JNBA Financial Advisors
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 24, 2025), JNBA Financial Advisors reported 650 stock positions worth $1.0 billion. Its top holding was iShares Core S&P 500 ETF (IVV) at 14.4% of the portfolio, followed by Ste STR SPDR PT DW Eu ETF (SPDW, 7.8%) and SS SPDR BB 1-3M T-Bill ETF (BIL, 7.1%). Compared with Q1 2025, it opened 49 new positions, sold out of 46, added to 91 and reduced 139. The biggest buy was iShares Core S&P 500 ETF (IVV, shares +9%) and the biggest sale Vaneck Morningstar Wide Moat (MOAT, shares −40%).
- Most Recent 13F
- Q2 2026
- Location
- BLOOMINGTON, MN
- CIK
- 0001569118
- Portfolio Value
- $1.0B (Q2 2025)
- SEC Filing
- 0001569118-25-000007 ↗ filed Jul 24, 2025
Holdings Value
Holdings 650 stocks · $1.0B
| IVV iShares Core S&P 500 ETF | 14.37% | 240,710 | $149.5M | Add +8.8% |
| SPDW Ste STR SPDR PT DW Eu ETF | 7.77% | 1,995,889 | $80.8M | Reduce -2.8% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 7.06% | 800,386 | $73.4M | Add +5.5% |
| IJH iShares Core S&P Midcap ETF | 4.70% | 787,509 | $48.8M | Reduce -0.9% |
| SPMD SS SPDR P S&P 400 Midcap ETF | 4.33% | 827,232 | $45.0M | Reduce -0.7% |
| SPEM State Street SP PTF Em ETF | 4.10% | 996,962 | $42.6M | Reduce -1.3% |
| VUG Vanguard Mrngstar GR ETF-Sui | 3.85% | 91,250 | $40.0M | Add +0.4% |
| MOAT Vaneck Morningstar Wide Moat | 3.53% | 391,605 | $36.7M | Reduce -39.7% |
| VEA Vanguard Ftse Developed ETF | 2.64% | 481,406 | $27.4M | Add +5.7% |
| SPYG SS SPDR P S&P 500 Growth ETF | 2.24% | 244,412 | $23.3M | Add +2.4% |
| AFL Aflac Inc. | 2.20% | 216,507 | $22.8M | Reduce -0.1% |
| VIG Vanguard Dividend Apprec ETF | 1.96% | 99,431 | $20.4M | Reduce -2.6% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 1.73% | 62,964 | $18.0M | Add +94.1% |
| FNDF Schwab Fndmn Intl LRG Co. ETF | 1.56% | 405,048 | $16.2M | Reduce -9.7% |
| APG Api Group Corp. | 1.54% | 314,601 | $16.1M | Reduce -1.0% |
| VWO Vanguard Ftse Emerging Marke | 1.50% | 316,007 | $15.6M | Add +3.8% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 1.40% | 51,935 | $14.5M | Add +69.4% |
| SPSM SS SPDR P S&P 600 Small Cap | 1.39% | 340,424 | $14.5M | Reduce -11.4% |
| SPHQ Invesco S&P 500 Quality ETF | 1.30% | 190,101 | $13.5M | New |
| MSFT Microsoft Corp. | 1.25% | 26,069 | $13.0M | Reduce -0.3% |
| IJR iShares Core S&P Small-Cap E | 1.11% | 105,757 | $11.6M | Reduce -7.9% |
| PRF Invesco Rafi US 1000 ETF | 0.97% | 237,809 | $10.1M | Reduce -4.0% |
| VIGI Vanguard Int Div App Indx FD | 0.91% | 105,356 | $9.5M | Reduce -7.3% |
| IAU iShares Gold Trust | 0.91% | 151,425 | $9.4M | Reduce -5.4% |
| SCHD Schwab US DVD Equity ETF | 0.89% | 347,478 | $9.2M | Reduce -56.8% |
| MDYG SS SPDR S&P 400 MC GR ETF | 0.86% | 103,453 | $9.0M | Reduce -7.4% |
| MDYV SS SPDR S&P 400 MC Val ETF | 0.83% | 108,014 | $8.6M | Reduce -8.3% |
| IVLU iShares MSCI International V | 0.77% | 244,293 | $8.0M | Reduce -10.2% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.71% | 31,217 | $7.4M | Add +251.5% |
| IJK iShares S&P Mid-Cap 400 Grow | 0.63% | 72,456 | $6.6M | Reduce -0.9% |
| AAPL Apple Inc. | 0.61% | 30,682 | $6.3M | Add +0.9% |
| CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC | 0.58% | 65,853 | $6.1M | No change |
| GLDM SPDR Gold Minishares Trust | 0.57% | 89,933 | $5.9M | Reduce -10.3% |
| ESGD iShares Trust iShares ESG Aw | 0.56% | 65,342 | $5.8M | Add +1.4% |
| SPYV SS SPDR P S&P 500 Value ETF | 0.52% | 102,445 | $5.4M | Reduce -5.4% |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.49% | 104,239 | $5.1M | Reduce -12.7% |
| AVEM Avantis Emerging Markets Eq | 0.45% | 68,721 | $4.7M | Reduce -6.4% |
| GGG Graco Inc. | 0.45% | 54,441 | $4.7M | No change |
| IJJ iShares S&P Mid-Cap 400 Valu | 0.43% | 35,960 | $4.4M | Reduce -1.3% |
| VCSH Vanguard S/T Corp. Bond ETF | 0.42% | 55,445 | $4.4M | Add +1.9% |
| VOE Vngrd Mrngstr MD-Cap Val ETF | 0.40% | 25,329 | $4.2M | Reduce -0.1% |
| XVV iShares ESG Select Screened | 0.38% | 82,601 | $3.9M | Reduce -5.7% |
| VEU Vanguard Ftse All-World Ex-U | 0.36% | 56,339 | $3.8M | Add +1.3% |
| VTI VG Morningstar TS MKT ETF-US | 0.34% | 11,515 | $3.5M | Add +11.3% |
| BNDX Vanguard Total Intl Bond ETF | 0.33% | 69,362 | $3.4M | Reduce -14.9% |
| XJH Ishare ESG SS S&P Midcap ETF | 0.32% | 81,126 | $3.4M | Reduce -6.1% |
| SGOV iShares 0-3 Month Treasury B | 0.31% | 32,447 | $3.3M | Add +987.0% |
| EFG iShares MSCI Eafe Growth ETF | 0.31% | 28,740 | $3.2M | Reduce -8.7% |
| EAGG iShares ESG Aware US Aggrega | 0.30% | 66,229 | $3.1M | Add +2.1% |
| DFEM Dimensional Emrg MRKT Core | 0.30% | 104,829 | $3.1M | Reduce -10.4% |
| VGT Vanguard Info Tech ETF | 0.29% | 4,614 | $3.1M | Add +0.8% |
| DON Wisdomtree US Midcap Dividen | 0.28% | 58,980 | $3.0M | Reduce -6.3% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 0.26% | 37,842 | $2.8M | Add +13.6% |
| AMAT Applied Materials Inc. | 0.26% | 14,589 | $2.7M | No change |
| MDT Medtronic PLC | 0.25% | 29,706 | $2.6M | Add +4.0% |
| JPM JPMorgan Chase & Co. | 0.24% | 8,585 | $2.5M | Reduce -0.5% |
| AMZN Amazon.com Inc. | 0.23% | 10,720 | $2.4M | Reduce -4.2% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.23% | 3,798 | $2.3M | Add +4.5% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.21% | 3 | $2.2M | No change |
| JHMM John Hancock Multi Fact Mid | 0.19% | 32,694 | $2.0M | Reduce -0.4% |
| GOOG Alphabet Inc. Class C | 0.18% | 10,606 | $1.9M | Add +2.9% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.18% | 14,868 | $1.8M | Reduce -3.8% |
| JPST JPMorgan Ultra-Short Income | 0.18% | 36,139 | $1.8M | Reduce -5.2% |
| NVDA Nvidia Corp. | 0.17% | 11,418 | $1.8M | Reduce -19.8% |
| IDV iShares International Select | 0.17% | 50,845 | $1.8M | Reduce -1.8% |
| ABT Abbott Laboratories | 0.17% | 12,858 | $1.7M | No change |
| DES Wisdomtree US Smallcap Divid | 0.17% | 54,414 | $1.7M | No change |
| ABBV Abbvie Inc. | 0.17% | 9,296 | $1.7M | No change |
| ESGE iShares Inc. iShares ESG Awar | 0.16% | 41,467 | $1.6M | Add +0.3% |
| GOOGL Alphabet Inc. Class A | 0.16% | 9,184 | $1.6M | Reduce -5.9% |
| QCOM Qualcomm Inc. | 0.15% | 10,115 | $1.6M | No change |
| INTC Intel Corp. | 0.15% | 70,762 | $1.6M | Reduce -0.9% |
| JNJ Johnson & Johnson | 0.15% | 10,140 | $1.5M | Reduce -1.4% |
| SLYG SS SPDR S&P 600 SC GR ETF | 0.14% | 16,394 | $1.5M | Reduce -26.6% |
| MCD McDonald's Corp. | 0.14% | 4,958 | $1.4M | Reduce -0.6% |
| UNH Unitedhealth Group Inc. | 0.14% | 4,525 | $1.4M | Reduce -2.0% |
| SCHW Schwab (charles) Corp. | 0.13% | 14,855 | $1.4M | Reduce -0.5% |
| ORCL Oracle Corp. | 0.13% | 6,167 | $1.3M | Reduce -1.6% |
| META Meta Platforms Inc. Class A | 0.13% | 1,779 | $1.3M | Reduce -0.8% |
| PWV Invesco Large Cap Value ETF | 0.12% | 20,777 | $1.3M | Reduce -2.3% |
| VSGX Vanguard ESG Intl Stock ETF | 0.12% | 18,335 | $1.2M | Reduce -16.1% |
| AVUV Avantis US Small Cap Value | 0.11% | 12,937 | $1.2M | Reduce -22.9% |
| CRM Salesforce Inc. | 0.11% | 4,302 | $1.2M | Reduce -0.6% |
| SUSC iShares ESG Aware Usd Corpor | 0.11% | 48,237 | $1.1M | Reduce -6.9% |
| IEFA iShares Core MSCI Eafe ETF | 0.11% | 13,099 | $1.1M | Reduce -1.9% |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | 0.11% | 3,842 | $1.1M | Reduce -0.1% |
| BBY Best Buy Co. Inc. | 0.10% | 16,000 | $1.1M | No change |
| CSCO Cisco Systems Inc. | 0.10% | 15,258 | $1.1M | Add +0.6% |
| XJR Ishr ESG SS S&P Smal-Cap-Usd | 0.10% | 26,250 | $1.0M | Add +20.3% |
| XOM Exxon Mobil Corp. | 0.10% | 9,449 | $1.0M | No change |
| IJT iShares S&P Small-Cap 600 GR | 0.10% | 7,539 | $1.0M | Reduce -1.6% |
| IVW iShares S&P 500 Growth ETF | 0.10% | 9,009 | $992K | Reduce -0.9% |
| SUSB iShares ESG Aware 1-5 Year U | 0.09% | 38,563 | $971K | Add +8.3% |
| JMST JPM Ultra-Short Muni Income filed as J P MORGAN EXCHANGE TRADED F | 0.09% | 18,907 | $963K | Add +11.6% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.09% | 18,896 | $894K | No change |
| DE Deere & Co. | 0.08% | 1,722 | $876K | No change |
| NVS Novartis AG-Sponsored ADR | 0.08% | 7,074 | $856K | No change |
| KO The Coca-Cola Co. | 0.08% | 11,912 | $843K | Reduce -5.9% |
| SUSA iShares ESG Optimized MSCI U | 0.08% | 6,516 | $826K | Add +3.1% |
| MUB iShares National Muni Bond E | 0.08% | 7,889 | $824K | Reduce -31.4% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $16 (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| VAL.WS Valaris Ltd. -CW28 | *W EXP 04/29/202 | 4 | $16 | No change |
Total filed on the 13F, all lines: $1.0B.
Portfolio Sells Q1 2025 → Q2 2025
| MOAT Vaneck Morningstar Wide Moat | Reduce -39.7% | 3.53% | −2.39 |
| SCHD Schwab US DVD Equity ETF | Reduce -56.8% | 0.89% | −1.45 |
| AFL Aflac Inc. | Reduce -0.1% | 2.20% | −0.30 |
| SPSM SS SPDR P S&P 600 Small Cap | Reduce -11.4% | 1.39% | −0.23 |
| IJR iShares Core S&P Small-Cap E | Reduce -7.9% | 1.11% | −0.13 |
| VTEB Vanguard Tax-Exempt Bond ETF | Reduce -12.7% | 0.49% | −0.12 |
| FNDF Schwab Fndmn Intl LRG Co. ETF | Reduce -9.7% | 1.56% | −0.12 |
| MDYV SS SPDR S&P 400 MC Val ETF | Reduce -8.3% | 0.83% | −0.12 |
| UNH Unitedhealth Group Inc. | Reduce -2.0% | 0.14% | −0.12 |
| IJH iShares Core S&P Midcap ETF | Reduce -0.9% | 4.70% | −0.11 |
| VIG Vanguard Dividend Apprec ETF | Reduce -2.6% | 1.96% | −0.10 |
| SPMD SS SPDR P S&P 400 Midcap ETF | Reduce -0.7% | 4.33% | −0.09 |
| BNDX Vanguard Total Intl Bond ETF | Reduce -14.9% | 0.33% | −0.08 |
| IVLU iShares MSCI International V | Reduce -10.2% | 0.77% | −0.08 |
| GLDM SPDR Gold Minishares Trust | Reduce -10.3% | 0.57% | −0.08 |
| PRF Invesco Rafi US 1000 ETF | Reduce -4.0% | 0.97% | −0.07 |
| IAU iShares Gold Trust | Reduce -5.4% | 0.91% | −0.07 |
| VIGI Vanguard Int Div App Indx FD | Reduce -7.3% | 0.91% | −0.06 |
| SPYV SS SPDR P S&P 500 Value ETF | Reduce -5.4% | 0.52% | −0.06 |
| MDYG SS SPDR S&P 400 MC GR ETF | Reduce -7.4% | 0.86% | −0.06 |
| SLYG SS SPDR S&P 600 SC GR ETF | Reduce -26.6% | 0.14% | −0.05 |
| MUB iShares National Muni Bond E | Reduce -31.4% | 0.08% | −0.05 |
| DON Wisdomtree US Midcap Dividen | Reduce -6.3% | 0.28% | −0.04 |
| AVUV Avantis US Small Cap Value | Reduce -22.9% | 0.11% | −0.04 |
| SLYV SS SPDR S&P 600 SC Val ETF | Reduce -30.0% | 0.07% | −0.04 |
| JNJ Johnson & Johnson | Reduce -1.4% | 0.15% | −0.03 |
| XJH Ishare ESG SS S&P Midcap ETF | Reduce -6.1% | 0.32% | −0.03 |
| SPEM State Street SP PTF Em ETF | Reduce -1.3% | 4.10% | −0.03 |
| MOTI Vaneck Mstar Int Moat ETF | Reduce -22.9% | 0.07% | −0.03 |
| IJJ iShares S&P Mid-Cap 400 Valu | Reduce -1.3% | 0.43% | −0.02 |
| JPST JPMorgan Ultra-Short Income | Reduce -5.2% | 0.18% | −0.02 |
| MCD McDonald's Corp. | Reduce -0.6% | 0.14% | −0.02 |
| DFEM Dimensional Emrg MRKT Core | Reduce -10.4% | 0.30% | −0.02 |
| VOE Vngrd Mrngstr MD-Cap Val ETF | Reduce -0.1% | 0.40% | −0.02 |
| CVX Chevron Corp. | Reduce -3.9% | 0.06% | −0.02 |
| VSGX Vanguard ESG Intl Stock ETF | Reduce -16.1% | 0.12% | −0.02 |
| EFG iShares MSCI Eafe Growth ETF | Reduce -8.7% | 0.31% | −0.02 |
| GIS General Mills Inc. | Reduce -1.6% | 0.06% | −0.02 |
| SUSC iShares ESG Aware Usd Corpor | Reduce -6.9% | 0.11% | −0.02 |
| INTC Intel Corp. | Reduce -0.9% | 0.15% | −0.02 |
| PSO Pearson PLC-Sponsored ADR | Reduce -22.1% | 0.03% | −0.01 |
| DEM Wisdomtree Emerging Markets | Reduce -16.1% | 0.07% | −0.01 |
| KO The Coca-Cola Co. | Reduce -5.9% | 0.08% | −0.01 |
| BMY Bristol-Myers Squibb Co. | Reduce -2.9% | 0.03% | −0.01 |
| ITM Vaneck Intermediate Muni ETF | Sold out | 0.00% | −0.01 |
| PG The Procter & Gamble Co. | Reduce -1.4% | 0.07% | −0.01 |
| XVV iShares ESG Select Screened | Reduce -5.7% | 0.38% | −0.01 |
| INFL Horizon Kinetics Infl Benef | Reduce -8.8% | 0.07% | −0.01 |
| MMM 3M Co. | Reduce -9.1% | 0.07% | −0.01 |
| MINT PIMCO Enhanced Short Maturit | Reduce -15.4% | 0.03% | −0.01 |
Portfolio Buys Q1 2025 → Q2 2025
| IVV iShares Core S&P 500 ETF | Add +8.8% | 14.37% | +1.49 |
| SPHQ Invesco S&P 500 Quality ETF | New | 1.30% | +1.30 |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | Add +94.1% | 1.73% | +0.86 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Add +69.4% | 1.40% | +0.58 |
| VB Vanguard Most SM-Cap ETF-Usd | Add +251.5% | 0.71% | +0.51 |
| VUG Vanguard Mrngstar GR ETF-Sui | Add +0.4% | 3.85% | +0.35 |
| SGOV iShares 0-3 Month Treasury B | Add +987.0% | 0.31% | +0.28 |
| SPYG SS SPDR P S&P 500 Growth ETF | Add +2.4% | 2.24% | +0.25 |
| VEA Vanguard Ftse Developed ETF | Add +5.7% | 2.64% | +0.24 |
| VWO Vanguard Ftse Emerging Marke | Add +3.8% | 1.50% | +0.07 |
| VTI VG Morningstar TS MKT ETF-US | Add +11.3% | 0.34% | +0.04 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Add +13.6% | 0.26% | +0.04 |
| VGT Vanguard Info Tech ETF | Add +0.8% | 0.29% | +0.04 |
| CEG Constellation Energy | Add +61.3% | 0.04% | +0.03 |
| FSLR First Solar Inc. | Add +10.1% | 0.06% | +0.02 |
| TSLA Tesla Inc. | Add +29.5% | 0.05% | +0.02 |
| ESGD iShares Trust iShares ESG Aw | Add +1.4% | 0.56% | +0.02 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +4.5% | 0.23% | +0.01 |
| XJR Ishr ESG SS S&P Smal-Cap-Usd | Add +20.3% | 0.10% | +0.01 |
| VEU Vanguard Ftse All-World Ex-U | Add +1.3% | 0.36% | +0.01 |
| GOOG Alphabet Inc. Class C | Add +2.9% | 0.18% | +0.01 |
| AEP American Electric Power | Add +235.9% | 0.02% | +0.01 |
| LRGF iShares US Equity Factor ETF | New | 0.01% | +0.01 |
| DFAX Dimensional World Ex US Core | Add +1944.1% | 0.01% | +0.01 |
| ED Consolidated Edison Inc. | New | 0.01% | +0.01 |
| SO The Southern Co. | Add +188.8% | 0.01% | +0.01 |
| ESGE iShares Inc. iShares ESG Awar | Add +0.3% | 0.16% | +0.01 |
| XLG Invesco S&P 500 Top 50 ETF | New | 0.01% | +0.01 |
| DFAC Dimensional US Core Equity 2 | Add +276.3% | 0.01% | +0.01 |
| DIA SS SPDR Dow Jones Indus Avg | New | 0.01% | +0.01 |
| ESGV Vanguard ESG US Stock ETF | Add +5.3% | 0.07% | +0.01 |
| ALMU Aeluma Inc. | New | 0.01% | +0.01 |
| CSCO Cisco Systems Inc. | Add +0.6% | 0.10% | +0.00 |
| HFXI Nylim Ftse Intr Eq CN ETF-Ui | New | 0.00% | +0.00 |
| SUSA iShares ESG Optimized MSCI U | Add +3.1% | 0.08% | +0.00 |
| XLK SS Technology Select Sector | Add +22.4% | 0.01% | +0.00 |
| DYNF Ishrs US E F R A ETF-Usd Inc. | New | 0.00% | +0.00 |
| JMST JPM Ultra-Short Muni Income | Add +11.6% | 0.09% | +0.00 |
| PLTR Palantir Technologies Inc. Class A | Add +200.0% | 0.00% | +0.00 |
| DFIV Dimensional International Va | New | 0.00% | +0.00 |
| AIQ Global X Art Intel & Tech | Add +37.8% | 0.01% | +0.00 |
| QGRW Wisdomtree US Quality Growth | New | 0.00% | +0.00 |
| RWL Invesco S&P 500 Revenue ETF | New | 0.00% | +0.00 |
| GLD SPDR Gold Shares | Add +10.8% | 0.03% | +0.00 |
| NOC Northrop Grumman Corp. | Add +82.9% | 0.01% | +0.00 |
| WTV Wisdomtree U.S. Value Fund | New | 0.00% | +0.00 |
| OHI Omega Healthcare Investors | New | 0.00% | +0.00 |
| ETN Eaton Corp. PLC | Add +221.4% | 0.00% | +0.00 |
| DAL Delta Air Lines Inc. | Add +40.1% | 0.01% | +0.00 |
| GEV GE Vernova Inc. | Add +3.8% | 0.01% | +0.00 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 827 | $1.3B | IVV, SPDW, SGOV, AVDE, IJH |
| Q1 2026 | 817 | $1.2B | IVV, SPDW, SGOV, AVDE, IJH |
| Q4 2025 | 795 | $1.1B | IVV, SPDW, IJH, SPMD, VUG |
| Q3 2025 | 650 | $1.1B | IVV, SPDW, IJH, SPMD, VUG |
| Q2 2025 | 650 | $1.0B | IVV, SPDW, BIL, IJH, SPMD |
| Q1 2025 | 646 | $964.6M | IVV, SPDW, BIL, MOAT, IJH |
| Q4 2024 | 645 | $979.3M | IVV, MOAT, SPDW, IJH, SPMD |
| Q3 2024 | 649 | $992.9M | IVV, SPDW, MOAT, IJH, SPEM |
| Q2 2024 | 637 | $947.8M | IVV, SPDW, MOAT, SPMD, IJH |
| Q1 2024 | 665 | $952.2M | IVV, MOAT, SPDW, IJH, SCHD |