JNBA Financial Advisors

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 30, 2025), JNBA Financial Advisors reported 645 stock positions worth $979.3 million. Its top holding was iShares Core S&P 500 ETF (IVV) at 16.1% of the portfolio, followed by Vaneck Morningstar Wide Moat (MOAT, 7.8%) and Ste STR SPDR PT DW Eu ETF (SPDW, 7.6%). Compared with Q3 2024, it opened 23 new positions, sold out of 28, added to 78 and reduced 155. The biggest buy was iShares Core S&P 500 ETF (IVV, shares +8%) and the biggest sale Ste STR SPDR PT DW Eu ETF (SPDW, shares −4%).

Most Recent 13F
Q2 2026
Location
BLOOMINGTON, MN
CIK
0001569118
Portfolio Value
$979.3M (Q4 2024)
SEC Filing
0001569118-25-000001 ↗ filed Jan 30, 2025

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $952.2M Q1 2024 Q2 2024: $947.8M Q2 2024 Q3 2024: $992.9M Q3 2024 Q4 2024: $979.3M $979.3M Q4 2024 Q1 2025: $964.6M Q1 2025 Q2 2025: $1.0B Q2 2025 Q3 2025: $1.1B Q3 2025 Q4 2025: $1.1B Q4 2025 Q1 2026: $1.2B Q1 2026 Q2 2026: $1.3B Q2 2026

Holdings 645 stocks · $979.3M

IVV iShares Core S&P 500 ETF 16.12% 268,175 $157.9M Add +7.7%
MOAT Vaneck Morningstar Wide Moat 7.77% 820,432 $76.1M Add +0.6%
SPDW Ste STR SPDR PT DW Eu ETF 7.59% 2,176,759 $74.3M Reduce -4.0%
IJH iShares Core S&P Midcap ETF 4.91% 771,486 $48.1M Add +2.1%
SPMD SS SPDR P S&P 400 Midcap ETF 4.26% 762,866 $41.7M Add +7.6%
SPEM State Street SP PTF Em ETF 4.08% 1,041,290 $40.0M Reduce -5.1%
VUG Vanguard Mrngstar GR ETF-Sui 3.52% 83,904 $34.4M Add +13.9%
VIG Vanguard Dividend Apprec ETF 2.42% 121,104 $23.7M Reduce -4.5%
SPSM SS SPDR P S&P 600 Small Cap 2.42% 527,866 $23.7M Add +4.4%
SCHD Schwab US DVD Equity ETF 2.36% 845,129 $23.1M Reduce -0.7%
AFL Aflac Inc. 2.29% 217,248 $22.5M Reduce -0.3%
SPYG SS SPDR P S&P 500 Growth ETF 2.26% 251,923 $22.1M Reduce -1.2%
VEA Vanguard Ftse Developed ETF 2.04% 418,571 $20.0M Add +11.0%
FNDF Schwab Fndmn Intl LRG Co. ETF 1.88% 553,912 $18.4M Reduce -7.7%
IJR iShares Core S&P Small-Cap E 1.37% 116,647 $13.4M Add +1.1%
VWO Vanguard Ftse Emerging Marke 1.32% 293,000 $12.9M Reduce -1.6%
APG Api Group Corp. 1.19% 322,850 $11.6M Reduce -3.0%
PRF Invesco Rafi US 1000 ETF 1.16% 281,848 $11.4M Reduce -1.5%
MSFT Microsoft Corp. 1.12% 25,973 $10.9M Add +0.1%
MDYG SS SPDR S&P 400 MC GR ETF 1.04% 117,025 $10.2M Reduce -1.6%
MDYV SS SPDR S&P 400 MC Val ETF 1.04% 126,724 $10.2M Reduce -5.7%
VIGI Vanguard Int Div App Indx FD 1.01% 123,555 $9.9M Reduce -2.3%
IVLU iShares MSCI International V 0.93% 336,102 $9.1M Reduce -9.8%
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.85% 30,768 $8.3M Add +0.0%
IAU iShares Gold Trust 0.84% 165,999 $8.2M Reduce -2.3%
SPYV SS SPDR P S&P 500 Value ETF 0.79% 150,387 $7.7M Reduce -2.9%
AAPL Apple Inc. 0.78% 30,695 $7.7M Reduce -4.7%
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.73% 27,168 $7.2M Reduce -0.9%
IJK iShares S&P Mid-Cap 400 Grow 0.70% 74,930 $6.8M Reduce -0.3%
VTEB Vanguard Tax-Exempt Bond ETF 0.63% 123,196 $6.2M Reduce -8.6%
GLDM SPDR Gold Minishares Trust 0.62% 117,044 $6.1M Reduce -6.9%
CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC 0.57% 65,853 $5.6M Reduce -1.5%
ESGD iShares Trust iShares ESG Aw 0.53% 68,448 $5.2M Add +3.1%
AVEM Avantis Emerging Markets Eq 0.53% 87,969 $5.2M Reduce -11.3%
BNDX Vanguard Total Intl Bond ETF 0.48% 95,646 $4.7M Add +17.0%
IJJ iShares S&P Mid-Cap 400 Valu 0.48% 37,327 $4.7M Reduce -0.6%
GGG Graco Inc. 0.47% 54,441 $4.6M No change
XVV iShares ESG Select Screened 0.44% 94,618 $4.3M Add +16.3%
VCSH Vanguard S/T Corp. Bond ETF 0.44% 54,631 $4.3M Add +2.6%
VOE Vngrd Mrngstr MD-Cap Val ETF 0.43% 26,198 $4.2M Reduce -2.1%
EFG iShares MSCI Eafe Growth ETF 0.38% 38,006 $3.7M Reduce -3.4%
DON Wisdomtree US Midcap Dividen 0.37% 71,227 $3.6M Reduce -2.8%
DFEM Dimensional Emrg MRKT Core 0.36% 134,309 $3.5M Reduce -15.6%
VEU Vanguard Ftse All-World Ex-U 0.34% 57,337 $3.3M Reduce -0.6%
XJH Ishare ESG SS S&P Midcap ETF 0.33% 78,323 $3.3M Add +10.5%
SLYG SS SPDR S&P 600 SC GR ETF 0.32% 34,806 $3.1M Reduce -1.8%
VTI VG Morningstar TS MKT ETF-US 0.30% 10,286 $3.0M Reduce -1.1%
VGT Vanguard Info Tech ETF 0.29% 4,596 $2.9M Reduce -1.8%
EAGG iShares ESG Aware US Aggrega 0.28% 58,249 $2.7M Add +51.0%
AMZN Amazon.com Inc. 0.27% 12,048 $2.6M Add +2.9%
AMAT Applied Materials Inc. 0.25% 14,854 $2.4M Reduce -0.9%
SPYM Ste STR SPDR PT S&P 500 ETF 0.24% 34,633 $2.4M Reduce -3.0%
UNH Unitedhealth Group Inc. 0.24% 4,632 $2.3M Reduce -1.1%
MDT Medtronic PLC 0.23% 28,564 $2.3M Reduce -0.1%
JPST JPMorgan Ultra-Short Income 0.22% 42,948 $2.2M Add +1.8%
JPM JPMorgan Chase & Co. 0.21% 8,629 $2.1M Add +1.0%
AVUV Avantis US Small Cap Value 0.20% 20,672 $2.0M Reduce -5.0%
JHMM John Hancock Multi Fact Mid 0.20% 32,966 $2.0M Reduce -1.8%
DES Wisdomtree US Smallcap Divid 0.20% 57,172 $2.0M Reduce -2.0%
SPY SS SPDR S&P 500 ETF Trust-US 0.20% 3,350 $2.0M Add +30.9%
GOOG Alphabet Inc. Class C 0.20% 10,296 $2.0M Reduce -0.1%
GOOGL Alphabet Inc. Class A 0.19% 10,020 $1.9M No change
VB Vanguard Most SM-Cap ETF-Usd 0.19% 7,855 $1.9M Reduce -1.3%
NVDA Nvidia Corp. 0.17% 12,492 $1.7M Add +5.0%
IDV iShares International Select 0.17% 61,209 $1.7M Reduce -1.9%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.17% 15,001 $1.7M Add +0.0%
SLYV SS SPDR S&P 600 SC Val ETF 0.17% 18,547 $1.6M Reduce -4.7%
ABBV Abbvie Inc. 0.16% 9,071 $1.6M Reduce -0.3%
QCOM Qualcomm Inc. 0.16% 10,115 $1.6M Add +0.0%
ABT Abbott Laboratories 0.15% 13,192 $1.5M Reduce -2.1%
MCD McDonald's Corp. 0.15% 5,102 $1.5M Reduce -3.8%
ESGE iShares Inc. iShares ESG Awar 0.15% 44,161 $1.5M Add +1.9%
JNJ Johnson & Johnson 0.15% 10,187 $1.5M Reduce -1.0%
PWV Invesco Large Cap Value ETF 0.15% 25,378 $1.4M Reduce -3.6%
INTC Intel Corp. 0.15% 71,409 $1.4M Reduce -3.7%
BBY Best Buy Co. Inc. 0.14% 16,000 $1.4M No change
SUSC iShares ESG Aware Usd Corpor 0.13% 55,534 $1.3M Add +44.6%
MUB iShares National Muni Bond E 0.13% 11,498 $1.2M No change
META Meta Platforms Inc. Class A 0.12% 2,004 $1.2M Reduce -1.3%
SCHW Schwab (charles) Corp. 0.12% 15,268 $1.1M Reduce -0.7%
VSGX Vanguard ESG Intl Stock ETF 0.12% 19,909 $1.1M Reduce -0.1%
IJT iShares S&P Small-Cap 600 GR 0.11% 8,133 $1.1M Reduce -3.9%
MOTI Vaneck Mstar Int Moat ETF 0.11% 35,377 $1.1M Reduce -11.3%
SUSB iShares ESG Aware 1-5 Year U 0.11% 42,645 $1.1M Reduce -3.0%
XJR Ishr ESG SS S&P Smal-Cap-Usd 0.11% 25,192 $1.0M Add +10.3%
ORCL Oracle Corp. 0.10% 6,167 $1.0M No change
XOM Exxon Mobil Corp. 0.10% 9,539 $1.0M Reduce -1.6%
CSCO Cisco Systems Inc. 0.10% 16,782 $993K Reduce -0.9%
VOT Vngrd Mrngstr MC GRW ETF-Usd 0.10% 3,844 $975K Reduce -11.6%
IEFA iShares Core MSCI Eafe ETF 0.10% 13,690 $962K Add +9.4%
IVW iShares S&P 500 Growth ETF 0.09% 9,136 $928K No change
SUSA iShares ESG Optimized MSCI U 0.09% 7,285 $886K Add +5.7%
JHSC John Hancock Multi Small Cap 0.09% 22,056 $877K Reduce -5.3%
DEM Wisdomtree Emerging Markets 0.09% 21,463 $869K Reduce -8.2%
JMST JPM Ultra-Short Muni Income filed as J P MORGAN EXCHANGE TRADED F 0.09% 16,935 $859K Reduce -0.8%
INFL Horizon Kinetics Infl Benef 0.09% 22,324 $850K Reduce -4.0%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.09% 19,009 $835K Reduce -1.0%
KO The Coca-Cola Co. 0.09% 13,367 $832K Reduce -0.9%
GIS General Mills Inc. 0.08% 12,556 $801K Reduce -1.0%
JHEM John Hancock Multi Em MRK Et 0.08% 30,164 $780K Reduce -2.4%

Show all 645 holdings

Other holdings (3): bonds, preferreds, convertibles and warrants · $261 (not counted above)
SecurityClassShares / PrincipalValueChange
PLMWF Plum Acquisition Corp. III-CW *W EXP 03/31/202 833$150No change
OXY.WS Occidental Petroleum-CW27 *W EXP 08/03/202 3$83No change
VAL.WS Valaris Ltd. -CW28 *W EXP 04/29/202 4$28No change

Total filed on the 13F, all lines: $979.3M.

Portfolio Sells Q3 2024 → Q4 2024

SPDW Ste STR SPDR PT DW Eu ETF Reduce -4.0% 7.59% −0.99
SPEM State Street SP PTF Em ETF Reduce -5.1% 4.08% −0.48
FNDF Schwab Fndmn Intl LRG Co. ETF Reduce -7.7% 1.88% −0.38
IVLU iShares MSCI International V Reduce -9.8% 0.93% −0.18
AFL Aflac Inc. Reduce -0.3% 2.29% −0.16
AVEM Avantis Emerging Markets Eq Reduce -11.3% 0.53% −0.12
VWO Vanguard Ftse Emerging Marke Reduce -1.6% 1.32% −0.12
VIGI Vanguard Int Div App Indx FD Reduce -2.3% 1.01% −0.11
VIG Vanguard Dividend Apprec ETF Reduce -4.5% 2.42% −0.11
DFEM Dimensional Emrg MRKT Core Reduce -15.6% 0.36% −0.09
VTEB Vanguard Tax-Exempt Bond ETF Reduce -8.6% 0.63% −0.06
AMAT Applied Materials Inc. Reduce -0.9% 0.25% −0.06
SCHD Schwab US DVD Equity ETF Reduce -0.7% 2.36% −0.06
EFG iShares MSCI Eafe Growth ETF Reduce -3.4% 0.38% −0.05
SPYV SS SPDR P S&P 500 Value ETF Reduce -2.9% 0.79% −0.04
GLDM SPDR Gold Minishares Trust Reduce -6.9% 0.62% −0.04
ICLN iShares Global Clean Energy Reduce -89.5% 0.00% −0.04
MDYV SS SPDR S&P 400 MC Val ETF Reduce -5.7% 1.04% −0.04
UNH Unitedhealth Group Inc. Reduce -1.1% 0.24% −0.04
MOTI Vaneck Mstar Int Moat ETF Reduce -11.3% 0.11% −0.03
VEU Vanguard Ftse All-World Ex-U Reduce -0.6% 0.34% −0.03
INTC Intel Corp. Reduce -3.7% 0.15% −0.03
MDT Medtronic PLC Reduce -0.1% 0.23% −0.03
BIL SS SPDR BB 1-3M T-Bill ETF Reduce -35.1% 0.04% −0.02
VOE Vngrd Mrngstr MD-Cap Val ETF Reduce -2.1% 0.43% −0.02
IDV iShares International Select Reduce -1.9% 0.17% −0.02
ITM Vaneck Intermediate Muni ETF Reduce -60.1% 0.01% −0.02
JNJ Johnson & Johnson Reduce -1.0% 0.15% −0.02
ABBV Abbvie Inc. Reduce -0.3% 0.16% −0.02
DEM Wisdomtree Emerging Markets Reduce -8.2% 0.09% −0.01
NVS Novartis AG-Sponsored ADR Reduce -0.3% 0.08% −0.01
MDYG SS SPDR S&P 400 MC GR ETF Reduce -1.6% 1.04% −0.01
KO The Coca-Cola Co. Reduce -0.9% 0.09% −0.01
GIS General Mills Inc. Reduce -1.0% 0.08% −0.01
MMM 3M Co. Reduce -10.8% 0.07% −0.01
MCD McDonald's Corp. Reduce -3.8% 0.15% −0.01
SLYG SS SPDR S&P 600 SC GR ETF Reduce -1.8% 0.32% −0.01
CVS CVS Health Corp. Reduce -3.8% 0.02% −0.01
IAU iShares Gold Trust Reduce -2.3% 0.84% −0.01
BSV Vanguard Short-Term Bond ETF Reduce -43.9% 0.01% −0.01
XOM Exxon Mobil Corp. Reduce -1.6% 0.10% −0.01
PRF Invesco Rafi US 1000 ETF Reduce -1.5% 1.16% −0.01
JHEM John Hancock Multi Em MRK Et Reduce -2.4% 0.08% −0.01
CI The Cigna Group Reduce -1.4% 0.03% −0.01
NVO Novo-Nordisk A/S-Spons ADR Reduce -9.2% 0.02% −0.01
HD Home Depot Inc. Reduce -10.4% 0.06% −0.01
MRK Merck & Co. Inc. Reduce -1.6% 0.06% −0.01
VSGX Vanguard ESG Intl Stock ETF Reduce -0.1% 0.12% −0.01
SHY iShares 1-3 Year Treasury Bo Reduce -42.6% 0.01% −0.01
PWV Invesco Large Cap Value ETF Reduce -3.6% 0.15% −0.01

Portfolio Buys Q3 2024 → Q4 2024

IVV iShares Core S&P 500 ETF Add +7.7% 16.12% +1.65
VUG Vanguard Mrngstar GR ETF-Sui Add +13.9% 3.52% +0.67
SPMD SS SPDR P S&P 400 Midcap ETF Add +7.6% 4.26% +0.35
IJH iShares Core S&P Midcap ETF Add +2.1% 4.91% +0.17
SPSM SS SPDR P S&P 600 Small Cap Add +4.4% 2.42% +0.10
EAGG iShares ESG Aware US Aggrega Add +51.0% 0.28% +0.09
XVV iShares ESG Select Screened Add +16.3% 0.44% +0.08
BNDX Vanguard Total Intl Bond ETF Add +17.0% 0.48% +0.07
SPY SS SPDR S&P 500 ETF Trust-US Add +30.9% 0.20% +0.05
AMZN Amazon.com Inc. Add +2.9% 0.27% +0.05
VEA Vanguard Ftse Developed ETF Add +11.0% 2.04% +0.04
SUSC iShares ESG Aware Usd Corpor Add +44.6% 0.13% +0.04
XJH Ishare ESG SS S&P Midcap ETF Add +10.5% 0.33% +0.03
SMOG Vaneck Low Carbon Energy ETF Add +125.8% 0.06% +0.03
VV Vngrd Mrgstr LRG-Cap ETF-Usd Add +0.0% 0.85% +0.03
JPM JPMorgan Chase & Co. Add +1.0% 0.21% +0.03
NVDA Nvidia Corp. Add +5.0% 0.17% +0.03
DIS The Walt Disney Co. Add +0.0% 0.17% +0.03
TSLA Tesla Inc. Add +2.5% 0.05% +0.02
CRM Salesforce Inc. Add +12.9% 0.06% +0.02
HON Honeywell International Inc. Add +24.6% 0.06% +0.02
IJR iShares Core S&P Small-Cap E Add +1.1% 1.37% +0.01
IWM iShares Russell 2000 ETF Add +19.6% 0.07% +0.01
IWR iShares Russell Mid-Cap ETF Add +18.1% 0.07% +0.01
XJR Ishr ESG SS S&P Smal-Cap-Usd Add +10.3% 0.11% +0.01
VCSH Vanguard S/T Corp. Bond ETF Add +2.6% 0.44% +0.01
ESGV Vanguard ESG US Stock ETF Add +6.6% 0.07% +0.01
SUSA iShares ESG Optimized MSCI U Add +5.7% 0.09% +0.01
VOO Vanguard S&P 500 ETF Add +7.4% 0.07% +0.01
BLK BlackRock Inc. Add +0.7% 0.07% +0.01
JPST JPMorgan Ultra-Short Income Add +1.8% 0.22% +0.01
WGHTQ WW International Inc. New 0.00% +0.00
VBK Van Morst SML-Cap Gro-Usd Inc. Add +80.7% 0.01% +0.00
IWS iShares Russell Mid-Cap Valu New 0.00% +0.00
EFV iShares MSCI Eafe Value ETF New 0.00% +0.00
USB US Bancorp Add +7.3% 0.04% +0.00
XSW SS SPDR S&P Soft & Serv ETF New 0.00% +0.00
FISV Fiserv Inc. Add +2.1% 0.02% +0.00
SCHH Schwab US REIT ETF New 0.00% +0.00
MA Mastercard Inc. Class A Add +0.3% 0.04% +0.00
BA The Boeing Co. Add +10.8% 0.01% +0.00
MINT PIMCO Enhanced Short Maturit Add +2.2% 0.05% +0.00
JUST Goldman Sachs Just US LRG New 0.00% +0.00
IBM Intl Business Machines Corp. Add +11.7% 0.01% +0.00
VXUS Vanguard Total Intl Stock Add +40.4% 0.00% +0.00
CVX Chevron Corp. Add +1.9% 0.06% +0.00
DSI iShares ESG MSCI KLD 400 ETF Add +0.5% 0.03% +0.00
MPC Marathon Petroleum Corp. Add +241.9% 0.00% +0.00
PLTR Palantir Technologies Inc. Class A New 0.00% +0.00
TBUX T Rowe Price Ultra Short-Ter New 0.00% +0.00

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 827$1.3BIVV, SPDW, SGOV, AVDE, IJH
Q1 2026 817$1.2BIVV, SPDW, SGOV, AVDE, IJH
Q4 2025 795$1.1BIVV, SPDW, IJH, SPMD, VUG
Q3 2025 650$1.1BIVV, SPDW, IJH, SPMD, VUG
Q2 2025 650$1.0BIVV, SPDW, BIL, IJH, SPMD
Q1 2025 646$964.6MIVV, SPDW, BIL, MOAT, IJH
Q4 2024 645$979.3MIVV, MOAT, SPDW, IJH, SPMD
Q3 2024 649$992.9MIVV, SPDW, MOAT, IJH, SPEM
Q2 2024 637$947.8MIVV, SPDW, MOAT, SPMD, IJH
Q1 2024 665$952.2MIVV, MOAT, SPDW, IJH, SCHD