JNBA Financial Advisors
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 28, 2025), JNBA Financial Advisors reported 650 stock positions worth $1.1 billion. Its top holding was iShares Core S&P 500 ETF (IVV) at 21.4% of the portfolio, followed by Ste STR SPDR PT DW Eu ETF (SPDW, 8.2%) and iShares Core S&P Midcap ETF (IJH, 4.6%). Compared with Q2 2025, it opened 33 new positions, sold out of 33, added to 79 and reduced 138. The biggest buy was iShares Core S&P 500 ETF (IVV, shares +46%) and the biggest sale SS SPDR BB 1-3M T-Bill ETF (BIL, shares −97%).
- Most Recent 13F
- Q2 2026
- Location
- BLOOMINGTON, MN
- CIK
- 0001569118
- Portfolio Value
- $1.1B (Q3 2025)
- SEC Filing
- 0001569118-25-000009 ↗ filed Oct 28, 2025
Holdings Value
Holdings 650 stocks · $1.1B
| IVV iShares Core S&P 500 ETF | 21.44% | 352,580 | $236.0M | Add +46.5% |
| SPDW Ste STR SPDR PT DW Eu ETF | 8.15% | 2,096,584 | $89.7M | Add +5.0% |
| IJH iShares Core S&P Midcap ETF | 4.64% | 783,300 | $51.1M | Reduce -0.5% |
| SPMD SS SPDR P S&P 400 Midcap ETF | 4.47% | 860,987 | $49.2M | Add +4.1% |
| VUG Vanguard Mrngstar GR ETF-Sui | 4.12% | 94,566 | $45.4M | Add +3.6% |
| MOAT Vaneck Morningstar Wide Moat | 3.45% | 382,790 | $37.9M | Reduce -2.3% |
| SPEM State Street SP PTF Em ETF | 3.38% | 793,680 | $37.2M | Reduce -20.4% |
| VEA Vanguard Ftse Developed ETF | 2.56% | 470,986 | $28.2M | Reduce -2.2% |
| SPYG SS SPDR P S&P 500 Growth ETF | 2.31% | 243,173 | $25.4M | Reduce -0.5% |
| AFL Aflac Inc. | 2.20% | 216,415 | $24.2M | Reduce -0.0% |
| VIG Vanguard Dividend Apprec ETF | 1.90% | 96,797 | $20.9M | Reduce -2.6% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 1.76% | 63,063 | $19.4M | Add +0.2% |
| FNDF Schwab Fndmn Intl LRG Co. ETF | 1.53% | 391,733 | $16.8M | Reduce -3.3% |
| MSFT Microsoft Corp. | 1.52% | 32,348 | $16.8M | Add +24.1% |
| VWO Vanguard Ftse Emerging Marke | 1.49% | 302,608 | $16.4M | Reduce -4.2% |
| APG Api Group Corp. | 1.47% | 471,900 | $16.2M | No change |
| SPHQ Invesco S&P 500 Quality ETF | 1.45% | 217,943 | $16.0M | Add +14.7% |
| SPSM SS SPDR P S&P 600 Small Cap | 1.41% | 335,572 | $15.5M | Reduce -1.4% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 1.36% | 50,775 | $14.9M | Reduce -2.2% |
| IJR iShares Core S&P Small-Cap E | 1.12% | 103,871 | $12.3M | Reduce -1.8% |
| PRF Invesco Rafi US 1000 ETF | 0.97% | 236,336 | $10.7M | Reduce -0.6% |
| IAU iShares Gold Trust | 0.97% | 146,781 | $10.7M | Reduce -3.1% |
| MDYG SS SPDR S&P 400 MC GR ETF | 0.84% | 101,536 | $9.3M | Reduce -1.9% |
| VIGI Vanguard Int Div App Indx FD | 0.83% | 101,831 | $9.1M | Reduce -3.4% |
| MDYV SS SPDR S&P 400 MC Val ETF | 0.78% | 103,469 | $8.6M | Reduce -4.2% |
| IVLU iShares MSCI International V | 0.76% | 235,769 | $8.4M | Reduce -3.5% |
| SCHD Schwab US DVD Equity ETF | 0.71% | 288,042 | $7.9M | Reduce -17.1% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.71% | 30,681 | $7.8M | Reduce -1.7% |
| AAPL Apple Inc. | 0.70% | 30,413 | $7.7M | Reduce -0.9% |
| IJK iShares S&P Mid-Cap 400 Grow | 0.61% | 69,983 | $6.7M | Reduce -3.4% |
| GLDM SPDR Gold Minishares Trust | 0.56% | 80,364 | $6.1M | Reduce -10.6% |
| ESGD iShares Trust iShares ESG Aw | 0.56% | 66,006 | $6.1M | Add +1.0% |
| CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC | 0.54% | 65,853 | $5.9M | No change |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.53% | 117,495 | $5.9M | Add +12.7% |
| SPYV SS SPDR P S&P 500 Value ETF | 0.49% | 98,089 | $5.4M | Reduce -4.3% |
| XVV iShares ESG Select Screened | 0.45% | 97,029 | $5.0M | Add +17.5% |
| AVEM Avantis Emerging Markets Eq | 0.43% | 62,637 | $4.7M | Reduce -8.8% |
| GGG Graco Inc. | 0.42% | 54,441 | $4.6M | No change |
| IJJ iShares S&P Mid-Cap 400 Valu | 0.41% | 35,131 | $4.6M | Reduce -2.3% |
| VOE Vngrd Mrngstr MD-Cap Val ETF | 0.40% | 25,040 | $4.4M | Reduce -1.1% |
| VCSH Vanguard S/T Corp. Bond ETF | 0.39% | 53,556 | $4.3M | Reduce -3.4% |
| VEU Vanguard Ftse All-World Ex-U | 0.36% | 56,019 | $4.0M | Reduce -0.6% |
| VTI VG Morningstar TS MKT ETF-US | 0.34% | 11,517 | $3.8M | Add +0.0% |
| XJH Ishare ESG SS S&P Midcap ETF | 0.33% | 81,784 | $3.6M | Add +0.8% |
| VGT Vanguard Info Tech ETF | 0.31% | 4,614 | $3.4M | No change |
| SPYM Ste STR SPDR PT S&P 500 ETF | 0.30% | 42,157 | $3.3M | Add +11.4% |
| EAGG iShares ESG Aware US Aggrega | 0.29% | 67,556 | $3.2M | Add +2.0% |
| EFG iShares MSCI Eafe Growth ETF | 0.29% | 28,404 | $3.2M | Reduce -1.2% |
| DFEM Dimensional Emrg MRKT Core | 0.28% | 96,940 | $3.1M | Reduce -7.5% |
| AMAT Applied Materials Inc. | 0.27% | 14,589 | $3.0M | No change |
| DON Wisdomtree US Midcap Dividen | 0.27% | 56,575 | $3.0M | Reduce -4.1% |
| MDT Medtronic PLC | 0.25% | 28,427 | $2.7M | Reduce -4.3% |
| JPM JPMorgan Chase & Co. | 0.24% | 8,451 | $2.7M | Reduce -1.6% |
| GOOG Alphabet Inc. Class C | 0.23% | 10,582 | $2.6M | Reduce -0.2% |
| AMZN Amazon.com Inc. | 0.23% | 11,529 | $2.5M | Add +7.5% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.23% | 3,736 | $2.5M | Reduce -1.6% |
| INTC Intel Corp. | 0.21% | 69,898 | $2.3M | Reduce -1.2% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.21% | 24,890 | $2.3M | Reduce -96.9% |
| GOOGL Alphabet Inc. Class A | 0.21% | 9,384 | $2.3M | Add +2.2% |
| NVDA Nvidia Corp. | 0.21% | 12,188 | $2.3M | Add +6.7% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.21% | 3 | $2.3M | No change |
| ABBV Abbvie Inc. | 0.20% | 9,373 | $2.2M | Add +0.8% |
| JHMM John Hancock Multi Fact Mid | 0.17% | 29,237 | $1.9M | Reduce -10.6% |
| JNJ Johnson & Johnson | 0.17% | 10,073 | $1.9M | Reduce -0.7% |
| CELC Celcuity Inc. | 0.17% | 37,753 | $1.9M | Reduce -0.9% |
| ORCL Oracle Corp. | 0.17% | 6,559 | $1.8M | Add +6.4% |
| DES Wisdomtree US Smallcap Divid | 0.17% | 54,125 | $1.8M | Reduce -0.5% |
| IDV iShares International Select | 0.17% | 49,716 | $1.8M | Reduce -2.2% |
| ABT Abbott Laboratories | 0.16% | 12,839 | $1.7M | Reduce -0.1% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.15% | 14,868 | $1.7M | No change |
| QCOM Qualcomm Inc. | 0.15% | 10,115 | $1.7M | No change |
| ESGE iShares Inc. iShares ESG Awar | 0.15% | 38,028 | $1.7M | Reduce -8.3% |
| UNH Unitedhealth Group Inc. | 0.14% | 4,603 | $1.6M | Add +1.7% |
| MCD McDonald's Corp. | 0.14% | 4,958 | $1.5M | No change |
| SLYG SS SPDR S&P 600 SC GR ETF | 0.13% | 15,637 | $1.5M | Reduce -4.6% |
| JPST JPMorgan Ultra-Short Income | 0.13% | 29,001 | $1.5M | Reduce -19.8% |
| META Meta Platforms Inc. Class A | 0.13% | 1,945 | $1.4M | Add +9.3% |
| SCHW Schwab (charles) Corp. | 0.13% | 14,805 | $1.4M | Reduce -0.3% |
| BNDX Vanguard Total Intl Bond ETF | 0.12% | 26,672 | $1.3M | Reduce -61.5% |
| VSGX Vanguard ESG Intl Stock ETF | 0.12% | 18,365 | $1.3M | Add +0.2% |
| PWV Invesco Large Cap Value ETF | 0.11% | 19,359 | $1.3M | Reduce -6.8% |
| BBY Best Buy Co. Inc. | 0.11% | 16,000 | $1.2M | No change |
| AVUV Avantis US Small Cap Value | 0.11% | 11,621 | $1.2M | Reduce -10.2% |
| SUSC iShares ESG Aware Usd Corpor | 0.10% | 48,764 | $1.1M | Add +1.1% |
| IEFA iShares Core MSCI Eafe ETF | 0.10% | 13,099 | $1.1M | No change |
| GDX Vaneck Gold Miners ETF | 0.10% | 14,898 | $1.1M | No change |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | 0.10% | 3,784 | $1.1M | Reduce -1.5% |
| XJR Ishr ESG SS S&P Smal-Cap-Usd | 0.10% | 25,774 | $1.1M | Reduce -1.8% |
| IVW iShares S&P 500 Growth ETF | 0.10% | 8,936 | $1.1M | Reduce -0.8% |
| XOM Exxon Mobil Corp. | 0.10% | 9,549 | $1.1M | Add +1.1% |
| IJT iShares S&P Small-Cap 600 GR | 0.10% | 7,414 | $1.0M | Reduce -1.7% |
| CSCO Cisco Systems Inc. | 0.09% | 15,018 | $1.0M | Reduce -1.6% |
| CRM Salesforce Inc. | 0.09% | 4,286 | $1.0M | Reduce -0.4% |
| JMST JPM Ultra-Short Muni Income filed as J P MORGAN EXCHANGE TRADED F | 0.09% | 18,907 | $965K | No change |
| SUSB iShares ESG Aware 1-5 Year U | 0.09% | 38,036 | $963K | Reduce -1.4% |
| TRV The Travelers Cos Inc. | 0.09% | 3,434 | $959K | Add +24.1% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.09% | 18,477 | $953K | Reduce -2.2% |
| FSLR First Solar Inc. | 0.08% | 4,151 | $915K | Add +7.0% |
| SUSA iShares ESG Optimized MSCI U | 0.08% | 6,708 | $910K | Add +3.0% |
| SMOG Vaneck Low Carbon Energy ETF | 0.08% | 6,941 | $882K | Add +7.2% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $12 (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| VAL.WS Valaris Ltd. -CW28 | *W EXP 04/29/202 | 4 | $12 | No change |
Total filed on the 13F, all lines: $1.1B.
Portfolio Sells Q2 2025 → Q3 2025
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -96.9% | 0.21% | −6.85 |
| SPEM State Street SP PTF Em ETF | Reduce -20.4% | 3.38% | −0.72 |
| SGOV iShares 0-3 Month Treasury B | Reduce -76.5% | 0.07% | −0.24 |
| BNDX Vanguard Total Intl Bond ETF | Reduce -61.5% | 0.12% | −0.21 |
| SCHD Schwab US DVD Equity ETF | Reduce -17.1% | 0.71% | −0.17 |
| MOAT Vaneck Morningstar Wide Moat | Reduce -2.3% | 3.45% | −0.09 |
| VIGI Vanguard Int Div App Indx FD | Reduce -3.4% | 0.83% | −0.08 |
| VEA Vanguard Ftse Developed ETF | Reduce -2.2% | 2.56% | −0.08 |
| VIG Vanguard Dividend Apprec ETF | Reduce -2.6% | 1.90% | −0.06 |
| IJH iShares Core S&P Midcap ETF | Reduce -0.5% | 4.64% | −0.05 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Reduce -2.2% | 1.36% | −0.04 |
| JPST JPMorgan Ultra-Short Income | Reduce -19.8% | 0.13% | −0.04 |
| MDYV SS SPDR S&P 400 MC Val ETF | Reduce -4.2% | 0.78% | −0.04 |
| VCSH Vanguard S/T Corp. Bond ETF | Reduce -3.4% | 0.39% | −0.04 |
| FNDF Schwab Fndmn Intl LRG Co. ETF | Reduce -3.3% | 1.53% | −0.03 |
| AVEM Avantis Emerging Markets Eq | Reduce -8.8% | 0.43% | −0.03 |
| IJK iShares S&P Mid-Cap 400 Grow | Reduce -3.4% | 0.61% | −0.02 |
| SPYV SS SPDR P S&P 500 Value ETF | Reduce -4.3% | 0.49% | −0.02 |
| CRM Salesforce Inc. | Reduce -0.4% | 0.09% | −0.02 |
| JHMM John Hancock Multi Fact Mid | Reduce -10.6% | 0.17% | −0.02 |
| MDYG SS SPDR S&P 400 MC GR ETF | Reduce -1.9% | 0.84% | −0.02 |
| DFEM Dimensional Emrg MRKT Core | Reduce -7.5% | 0.28% | −0.02 |
| EFG iShares MSCI Eafe Growth ETF | Reduce -1.2% | 0.29% | −0.02 |
| DON Wisdomtree US Midcap Dividen | Reduce -4.1% | 0.27% | −0.02 |
| GBTC Grayscale Bitcoin Trust ETF | Reduce -77.8% | 0.00% | −0.01 |
| VWO Vanguard Ftse Emerging Marke | Reduce -4.2% | 1.49% | −0.01 |
| IJJ iShares S&P Mid-Cap 400 Valu | Reduce -2.3% | 0.41% | −0.01 |
| IVLU iShares MSCI International V | Reduce -3.5% | 0.76% | −0.01 |
| ABT Abbott Laboratories | Reduce -0.1% | 0.16% | −0.01 |
| GIS General Mills Inc. | Reduce -8.2% | 0.05% | −0.01 |
| PWV Invesco Large Cap Value ETF | Reduce -6.8% | 0.11% | −0.01 |
| HON Honeywell International Inc. | Reduce -0.6% | 0.05% | −0.01 |
| CSCO Cisco Systems Inc. | Reduce -1.6% | 0.09% | −0.01 |
| GLDM SPDR Gold Minishares Trust | Reduce -10.6% | 0.56% | −0.01 |
| AVUV Avantis US Small Cap Value | Reduce -10.2% | 0.11% | −0.01 |
| DEM Wisdomtree Emerging Markets | Reduce -6.5% | 0.06% | −0.01 |
| CVS CVS Health Corp. | Reduce -22.9% | 0.03% | −0.01 |
| ESGE iShares Inc. iShares ESG Awar | Reduce -8.3% | 0.15% | −0.01 |
| SUSB iShares ESG Aware 1-5 Year U | Reduce -1.4% | 0.09% | −0.01 |
| SLYG SS SPDR S&P 600 SC GR ETF | Reduce -4.6% | 0.13% | −0.01 |
| FISV Fiserv Inc. | Reduce -2.1% | 0.01% | −0.01 |
| TGT Target Corp. | Reduce -2.9% | 0.03% | −0.01 |
| EMR Emerson Electric Co. | Reduce -4.1% | 0.04% | −0.01 |
| NKE Nike Inc. Class B | Reduce -3.5% | 0.04% | −0.00 |
| NVS Novartis AG-Sponsored ADR | Reduce -5.9% | 0.08% | −0.00 |
| JHEM John Hancock Multi Em MRK Et | Reduce -8.3% | 0.07% | −0.00 |
| BMY Bristol-Myers Squibb Co. | Reduce -10.2% | 0.02% | −0.00 |
| MMM 3M Co. | Reduce -3.3% | 0.06% | −0.00 |
| AOA iShares Core 80/20 Aggressiv | Reduce -7.9% | 0.05% | −0.00 |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | Reduce -1.5% | 0.10% | −0.00 |
Portfolio Buys Q2 2025 → Q3 2025
| IVV iShares Core S&P 500 ETF | Add +46.5% | 21.44% | +7.07 |
| SPDW Ste STR SPDR PT DW Eu ETF | Add +5.0% | 8.15% | +0.38 |
| MSFT Microsoft Corp. | Add +24.1% | 1.52% | +0.28 |
| VUG Vanguard Mrngstar GR ETF-Sui | Add +3.6% | 4.12% | +0.27 |
| SPHQ Invesco S&P 500 Quality ETF | Add +14.7% | 1.45% | +0.15 |
| SPMD SS SPDR P S&P 400 Midcap ETF | Add +4.1% | 4.47% | +0.15 |
| XVV iShares ESG Select Screened | Add +17.5% | 0.45% | +0.08 |
| GOOGL Alphabet Inc. Class A | Add +2.2% | 0.21% | +0.05 |
| VTEB Vanguard Tax-Exempt Bond ETF | Add +12.7% | 0.53% | +0.04 |
| ORCL Oracle Corp. | Add +6.4% | 0.17% | +0.04 |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | Add +0.2% | 1.76% | +0.04 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Add +11.4% | 0.30% | +0.04 |
| NVDA Nvidia Corp. | Add +6.7% | 0.21% | +0.03 |
| ABBV Abbvie Inc. | Add +0.8% | 0.20% | +0.03 |
| FSLR First Solar Inc. | Add +7.0% | 0.08% | +0.02 |
| TSLA Tesla Inc. | Add +7.6% | 0.07% | +0.02 |
| TRV The Travelers Cos Inc. | Add +24.1% | 0.09% | +0.02 |
| IBIT iShares Bitcoin Trust ETF | Add +1329.7% | 0.01% | +0.01 |
| SMOG Vaneck Low Carbon Energy ETF | Add +7.2% | 0.08% | +0.01 |
| CIEN Ciena Corp. | New | 0.01% | +0.01 |
| GFEB FT Vest US Equity Moderate B | New | 0.01% | +0.01 |
| ESGV Vanguard ESG US Stock ETF | Add +10.2% | 0.08% | +0.01 |
| UNH Unitedhealth Group Inc. | Add +1.7% | 0.14% | +0.01 |
| AVGO Broadcom Inc. | Add +206.2% | 0.01% | +0.01 |
| COOP Mr Cooper Group Inc. | New | 0.01% | +0.01 |
| CAH Cardinal Health Inc. | New | 0.01% | +0.01 |
| VTI VG Morningstar TS MKT ETF-US | Add +0.0% | 0.34% | +0.01 |
| JCI Johnson Controls Internation | Add +80.5% | 0.01% | +0.01 |
| SSNC Ss&c Technologies Holdings | New | 0.01% | +0.01 |
| SPGI S&P Global Inc. | New | 0.01% | +0.01 |
| ICE Intercontinental Exchange Inc. | New | 0.01% | +0.01 |
| MU Micron Technology Inc. | New | 0.00% | +0.00 |
| ETHA iShares Ethereum Trust ETF | New | 0.00% | +0.00 |
| AMZN Amazon.com Inc. | Add +7.5% | 0.23% | +0.00 |
| HAS Hasbro Inc. | New | 0.00% | +0.00 |
| APD Air Products & Chemicals Inc. | Add +250.8% | 0.01% | +0.00 |
| META Meta Platforms Inc. Class A | Add +9.3% | 0.13% | +0.00 |
| SUSA iShares ESG Optimized MSCI U | Add +3.0% | 0.08% | +0.00 |
| AMD Advanced Micro Devices | Add +420.4% | 0.00% | +0.00 |
| CVX Chevron Corp. | Add +2.7% | 0.06% | +0.00 |
| GRID First TRST Nasd Class Edg Sgiif | Add +1194.7% | 0.00% | +0.00 |
| WDC Western Digital Corp. | New | 0.00% | +0.00 |
| PAVE Global X US Infrastructure | New | 0.00% | +0.00 |
| AIQ Global X Art Intel & Tech | Add +18.5% | 0.01% | +0.00 |
| XJH Ishare ESG SS S&P Midcap ETF | Add +0.8% | 0.33% | +0.00 |
| DSI iShares ESG MSCI KLD 400 ETF | Add +3.1% | 0.03% | +0.00 |
| QGRW Wisdomtree US Quality Growth | Add +58.9% | 0.00% | +0.00 |
| BAI Ishrs AI in and Tech Act ETF | New | 0.00% | +0.00 |
| AOM iShares Core 40/60 Moderate | Add +31.1% | 0.01% | +0.00 |
| KLAR Klarna Group PLC | New | 0.00% | +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 |