JNBA Financial Advisors
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 26, 2026), JNBA Financial Advisors reported 795 stock positions worth $1.1 billion. Its top holding was iShares Core S&P 500 ETF (IVV) at 21.8% of the portfolio, followed by Ste STR SPDR PT DW Eu ETF (SPDW, 8.8%) and iShares Core S&P Midcap ETF (IJH, 4.7%). Compared with Q3 2025, it opened 157 new positions, sold out of 15, added to 186 and reduced 134. The biggest buy was Ste STR SPDR PT DW Eu ETF (SPDW, shares +8%) and the biggest sale Aflac (AFL, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- BLOOMINGTON, MN
- CIK
- 0001569118
- Portfolio Value
- $1.1B (Q4 2025)
- SEC Filing
- 0001569118-26-000001 ↗ filed Jan 26, 2026
Holdings Value
Holdings 795 stocks · $1.1B
| IVV iShares Core S&P 500 ETF | 21.80% | 364,404 | $249.6M | Add +3.4% |
| SPDW Ste STR SPDR PT DW Eu ETF | 8.76% | 2,257,447 | $100.3M | Add +7.7% |
| IJH iShares Core S&P Midcap ETF | 4.72% | 819,258 | $54.1M | Add +4.6% |
| SPMD SS SPDR P S&P 400 Midcap ETF | 4.48% | 885,173 | $51.3M | Add +2.8% |
| VUG Vanguard Mrngstar GR ETF-Sui | 4.01% | 94,079 | $45.9M | Reduce -0.5% |
| MOAT Vaneck Morningstar Wide Moat | 3.39% | 374,604 | $38.8M | Reduce -2.1% |
| SPEM State Street SP PTF Em ETF | 3.29% | 803,623 | $37.6M | Add +1.3% |
| VEA Vanguard Ftse Developed ETF | 2.58% | 472,679 | $29.5M | Add +0.4% |
| SPYG SS SPDR P S&P 500 Growth ETF | 2.24% | 240,445 | $25.7M | Reduce -1.1% |
| AFL Aflac Inc. | 2.07% | 214,894 | $23.7M | Reduce -0.7% |
| VIG Vanguard Dividend Apprec ETF | 1.85% | 96,219 | $21.1M | Reduce -0.6% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 1.72% | 62,597 | $19.7M | Reduce -0.7% |
| FNDF Schwab Fndmn Intl LRG Co. ETF | 1.53% | 386,322 | $17.5M | Reduce -1.4% |
| SPHQ Invesco S&P 500 Quality ETF | 1.46% | 222,779 | $16.7M | Add +2.2% |
| VWO Vanguard Ftse Emerging Marke | 1.42% | 302,683 | $16.3M | Add +0.0% |
| APG Api Group Corp. | 1.40% | 419,794 | $16.1M | Reduce -11.0% |
| MSFT Microsoft Corp. | 1.37% | 32,497 | $15.7M | Add +0.5% |
| SPSM SS SPDR P S&P 600 Small Cap | 1.36% | 331,663 | $15.5M | Reduce -1.2% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 1.28% | 50,375 | $14.6M | Reduce -0.8% |
| IJR iShares Core S&P Small-Cap E | 1.07% | 102,013 | $12.3M | Reduce -1.8% |
| IAU iShares Gold Trust | 1.01% | 142,714 | $11.6M | Reduce -2.8% |
| PRF Invesco Rafi US 1000 ETF | 0.95% | 232,544 | $10.9M | Reduce -1.6% |
| MDYG SS SPDR S&P 400 MC GR ETF | 0.80% | 98,866 | $9.1M | Reduce -2.6% |
| VIGI Vanguard Int Div App Indx FD | 0.79% | 98,980 | $9.1M | Reduce -2.8% |
| IVLU iShares MSCI International V | 0.74% | 221,946 | $8.4M | Reduce -5.9% |
| MDYV SS SPDR S&P 400 MC Val ETF | 0.73% | 98,958 | $8.4M | Reduce -4.4% |
| AAPL Apple Inc. | 0.71% | 30,000 | $8.2M | Reduce -1.4% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.69% | 30,821 | $8.0M | Add +0.5% |
| SCHD Schwab US DVD Equity ETF | 0.59% | 246,152 | $6.8M | Reduce -14.5% |
| ESGD iShares Trust iShares ESG Aw | 0.58% | 70,302 | $6.7M | Add +6.5% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 0.58% | 83,149 | $6.7M | Add +97.2% |
| IJK iShares S&P Mid-Cap 400 Grow | 0.58% | 68,709 | $6.7M | Reduce -1.8% |
| GLDM SPDR Gold Minishares Trust | 0.55% | 73,143 | $6.2M | Reduce -9.0% |
| XVV iShares ESG Select Screened | 0.46% | 100,962 | $5.3M | Add +4.0% |
| SPYV SS SPDR P S&P 500 Value ETF | 0.45% | 91,140 | $5.2M | Reduce -7.1% |
| CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC | 0.44% | 65,853 | $5.1M | No change |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.43% | 97,569 | $4.9M | Reduce -17.0% |
| IJJ iShares S&P Mid-Cap 400 Valu | 0.41% | 35,375 | $4.7M | Add +0.7% |
| AVEM Avantis Emerging Markets Eq | 0.40% | 59,182 | $4.6M | Reduce -5.5% |
| GGG Graco Inc. | 0.39% | 54,441 | $4.5M | No change |
| VOE Vngrd Mrngstr MD-Cap Val ETF | 0.38% | 24,632 | $4.4M | Reduce -1.6% |
| VEU Vanguard Ftse All-World Ex-U | 0.36% | 55,390 | $4.1M | Reduce -1.1% |
| XJH Ishare ESG SS S&P Midcap ETF | 0.35% | 91,019 | $4.1M | Add +11.3% |
| VCSH Vanguard S/T Corp. Bond ETF | 0.35% | 50,254 | $4.0M | Reduce -6.2% |
| VTI VG Morningstar TS MKT ETF-US | 0.33% | 11,287 | $3.8M | Reduce -2.0% |
| AMAT Applied Materials Inc. | 0.32% | 14,364 | $3.7M | Reduce -1.5% |
| CELC Celcuity Inc. | 0.32% | 36,753 | $3.7M | Reduce -2.6% |
| EAGG iShares ESG Aware US Aggrega | 0.31% | 73,620 | $3.5M | Add +9.0% |
| VGT Vanguard Info Tech ETF | 0.30% | 4,611 | $3.5M | Reduce -0.1% |
| GOOG Alphabet Inc. Class C | 0.28% | 10,233 | $3.2M | Reduce -3.3% |
| EFG iShares MSCI Eafe Growth ETF | 0.28% | 27,856 | $3.2M | Reduce -1.9% |
| DFEM Dimensional Emrg MRKT Core | 0.26% | 89,983 | $3.0M | Reduce -7.2% |
| GOOGL Alphabet Inc. Class A | 0.25% | 9,305 | $2.9M | Reduce -0.8% |
| DON Wisdomtree US Midcap Dividen | 0.24% | 54,244 | $2.8M | Reduce -4.1% |
| JPM JPMorgan Chase & Co. | 0.24% | 8,540 | $2.8M | Add +1.1% |
| AMZN Amazon.com Inc. | 0.24% | 11,807 | $2.7M | Add +2.4% |
| MDT Medtronic PLC | 0.24% | 28,268 | $2.7M | Reduce -0.6% |
| INTC Intel Corp. | 0.22% | 69,643 | $2.6M | Reduce -0.4% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.22% | 3,713 | $2.5M | Reduce -0.6% |
| NVDA Nvidia Corp. | 0.20% | 12,229 | $2.3M | Add +0.3% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.20% | 3 | $2.3M | No change |
| ABBV Abbvie Inc. | 0.18% | 9,201 | $2.1M | Reduce -1.8% |
| JNJ Johnson & Johnson | 0.18% | 9,991 | $2.1M | Reduce -0.8% |
| ESGE iShares Inc. iShares ESG Awar | 0.17% | 43,870 | $1.9M | Add +15.4% |
| IDV iShares International Select | 0.17% | 48,803 | $1.9M | Reduce -1.8% |
| JHMM John Hancock Multi Fact Mid | 0.17% | 29,128 | $1.9M | Reduce -0.4% |
| DES Wisdomtree US Smallcap Divid | 0.15% | 52,778 | $1.8M | Reduce -2.5% |
| QCOM Qualcomm Inc. | 0.15% | 10,126 | $1.7M | Add +0.1% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.15% | 14,754 | $1.7M | Reduce -0.8% |
| ABT Abbott Laboratories | 0.14% | 12,860 | $1.6M | Add +0.2% |
| UNH Unitedhealth Group Inc. | 0.13% | 4,603 | $1.5M | No change |
| MCD McDonald's Corp. | 0.13% | 4,941 | $1.5M | Reduce -0.3% |
| SCHW Schwab (charles) Corp. | 0.13% | 14,676 | $1.5M | Reduce -0.9% |
| SLYG SS SPDR S&P 600 SC GR ETF | 0.12% | 14,864 | $1.4M | Reduce -4.9% |
| META Meta Platforms Inc. Class A | 0.12% | 2,005 | $1.3M | Add +3.1% |
| VSGX Vanguard ESG Intl Stock ETF | 0.12% | 18,470 | $1.3M | Add +0.6% |
| BNDX Vanguard Total Intl Bond ETF | 0.11% | 27,117 | $1.3M | Add +1.7% |
| TRV The Travelers Cos Inc. | 0.11% | 4,516 | $1.3M | Add +31.5% |
| SUSC iShares ESG Aware Usd Corpor | 0.11% | 55,040 | $1.3M | Add +12.9% |
| ORCL Oracle Corp. | 0.11% | 6,590 | $1.3M | Add +0.5% |
| GDX Vaneck Gold Miners ETF | 0.11% | 14,898 | $1.3M | No change |
| JPST JPMorgan Ultra-Short Income | 0.11% | 24,818 | $1.3M | Reduce -14.4% |
| PWV Invesco Large Cap Value ETF | 0.11% | 18,718 | $1.2M | Reduce -3.3% |
| XJR Ishr ESG SS S&P Smal-Cap-Usd | 0.10% | 27,667 | $1.2M | Add +7.3% |
| AVUV Avantis US Small Cap Value | 0.10% | 11,535 | $1.2M | Reduce -0.7% |
| IEFA iShares Core MSCI Eafe ETF | 0.10% | 13,144 | $1.2M | Add +0.3% |
| CSCO Cisco Systems Inc. | 0.10% | 14,838 | $1.1M | Reduce -1.2% |
| XOM Exxon Mobil Corp. | 0.10% | 9,484 | $1.1M | Reduce -0.7% |
| FSLR First Solar Inc. | 0.10% | 4,356 | $1.1M | Add +4.9% |
| CRM Salesforce Inc. | 0.10% | 4,286 | $1.1M | No change |
| IVW iShares S&P 500 Growth ETF | 0.09% | 8,782 | $1.1M | Reduce -1.7% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.09% | 11,838 | $1.1M | Reduce -52.4% |
| BBY Best Buy Co. Inc. | 0.09% | 16,000 | $1.1M | No change |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | 0.09% | 3,771 | $1.1M | Reduce -0.3% |
| IJT iShares S&P Small-Cap 600 GR | 0.09% | 7,370 | $1.0M | Reduce -0.6% |
| QQQ Invesco QQQ Trust Series 1 | 0.09% | 1,662 | $1.0M | Add +29.9% |
| SUSB iShares ESG Aware 1-5 Year U | 0.09% | 40,358 | $1.0M | Add +6.1% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.09% | 18,269 | $1.0M | Reduce -1.1% |
| AIQ Global X Art Intel & Tech | 0.09% | 19,614 | $998K | Add +804.7% |
| QXO Qxo Inc. | 0.09% | 51,413 | $992K | New |
Other holdings (1): bonds, preferreds, convertibles and warrants · $8 (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| VAL.WS Valaris Ltd. -CW28 | *W EXP 04/29/202 | 4 | $8 | No change |
Total filed on the 13F, all lines: $1.1B.
Portfolio Sells Q3 2025 → Q4 2025
| AFL Aflac Inc. | Reduce -0.7% | 2.07% | −0.13 |
| SCHD Schwab US DVD Equity ETF | Reduce -14.5% | 0.59% | −0.12 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -52.4% | 0.09% | −0.11 |
| VUG Vanguard Mrngstar GR ETF-Sui | Reduce -0.5% | 4.01% | −0.11 |
| VTEB Vanguard Tax-Exempt Bond ETF | Reduce -17.0% | 0.43% | −0.11 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Reduce -0.8% | 1.28% | −0.08 |
| APG Api Group Corp. | Reduce -11.0% | 1.40% | −0.07 |
| SPYG SS SPDR P S&P 500 Growth ETF | Reduce -1.1% | 2.24% | −0.07 |
| MOAT Vaneck Morningstar Wide Moat | Reduce -2.1% | 3.39% | −0.06 |
| SGOV iShares 0-3 Month Treasury B | Reduce -83.3% | 0.01% | −0.06 |
| SPSM SS SPDR P S&P 600 Small Cap | Reduce -1.2% | 1.36% | −0.05 |
| MDYV SS SPDR S&P 400 MC Val ETF | Reduce -4.4% | 0.73% | −0.05 |
| VIG Vanguard Dividend Apprec ETF | Reduce -0.6% | 1.85% | −0.05 |
| IJR iShares Core S&P Small-Cap E | Reduce -1.8% | 1.07% | −0.05 |
| MDYG SS SPDR S&P 400 MC GR ETF | Reduce -2.6% | 0.80% | −0.05 |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | Reduce -0.7% | 1.72% | −0.04 |
| SPYV SS SPDR P S&P 500 Value ETF | Reduce -7.1% | 0.45% | −0.04 |
| VCSH Vanguard S/T Corp. Bond ETF | Reduce -6.2% | 0.35% | −0.04 |
| VIGI Vanguard Int Div App Indx FD | Reduce -2.8% | 0.79% | −0.04 |
| AVEM Avantis Emerging Markets Eq | Reduce -5.5% | 0.40% | −0.03 |
| IJK iShares S&P Mid-Cap 400 Grow | Reduce -1.8% | 0.58% | −0.03 |
| ALE Allete Inc. | Sold out | 0.00% | −0.03 |
| DON Wisdomtree US Midcap Dividen | Reduce -4.1% | 0.24% | −0.02 |
| JPST JPMorgan Ultra-Short Income | Reduce -14.4% | 0.11% | −0.02 |
| DFEM Dimensional Emrg MRKT Core | Reduce -7.2% | 0.26% | −0.02 |
| IVLU iShares MSCI International V | Reduce -5.9% | 0.74% | −0.02 |
| PRF Invesco Rafi US 1000 ETF | Reduce -1.6% | 0.95% | −0.02 |
| EFG iShares MSCI Eafe Growth ETF | Reduce -1.9% | 0.28% | −0.02 |
| VOE Vngrd Mrngstr MD-Cap Val ETF | Reduce -1.6% | 0.38% | −0.02 |
| ABBV Abbvie Inc. | Reduce -1.8% | 0.18% | −0.01 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -2.0% | 0.33% | −0.01 |
| GLDM SPDR Gold Minishares Trust | Reduce -9.0% | 0.55% | −0.01 |
| SLYG SS SPDR S&P 600 SC GR ETF | Reduce -4.9% | 0.12% | −0.01 |
| DES Wisdomtree US Smallcap Divid | Reduce -2.5% | 0.15% | −0.01 |
| GFEB FT Vest US Equity Moderate B | Sold out | 0.00% | −0.01 |
| VGT Vanguard Info Tech ETF | Reduce -0.1% | 0.30% | −0.01 |
| USB US Bancorp | Reduce -33.0% | 0.02% | −0.01 |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | Reduce -0.3% | 0.09% | −0.01 |
| MDT Medtronic PLC | Reduce -0.6% | 0.24% | −0.01 |
| BSX Boston Scientific Corp. | Reduce -7.4% | 0.06% | −0.01 |
| DIS The Walt Disney Co. | Reduce -0.8% | 0.15% | −0.01 |
| COOP Mr Cooper Group Inc. | Sold out | 0.00% | −0.01 |
| VEU Vanguard Ftse All-World Ex-U | Reduce -1.1% | 0.36% | −0.01 |
| PSL Invesco Dorsey Wright Consum | Reduce -23.1% | 0.01% | −0.01 |
| NKE Nike Inc. Class B | Reduce -4.8% | 0.03% | −0.01 |
| CEG Constellation Energy | Reduce -16.3% | 0.04% | −0.01 |
| PWV Invesco Large Cap Value ETF | Reduce -3.3% | 0.11% | −0.01 |
| SPGI S&P Global Inc. | Sold out | 0.00% | −0.01 |
| JHMM John Hancock Multi Fact Mid | Reduce -0.4% | 0.17% | −0.01 |
| KO The Coca-Cola Co. | Reduce -8.3% | 0.07% | −0.01 |
Portfolio Buys Q3 2025 → Q4 2025
| SPDW Ste STR SPDR PT DW Eu ETF | Add +7.7% | 8.76% | +0.61 |
| IVV iShares Core S&P 500 ETF | Add +3.4% | 21.80% | +0.36 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Add +97.2% | 0.58% | +0.28 |
| QXO Qxo Inc. | New | 0.09% | +0.09 |
| FLUT Flutter Entertainment PLC-Di | New | 0.08% | +0.08 |
| MRVL Marvell Technology Inc. | New | 0.08% | +0.08 |
| IJH iShares Core S&P Midcap ETF | Add +4.6% | 4.72% | +0.08 |
| AIQ Global X Art Intel & Tech | Add +804.7% | 0.09% | +0.08 |
| SSII SS Innovations International | New | 0.04% | +0.04 |
| XJH Ishare ESG SS S&P Midcap ETF | Add +11.3% | 0.35% | +0.03 |
| TRV The Travelers Cos Inc. | Add +31.5% | 0.11% | +0.03 |
| ESGD iShares Trust iShares ESG Aw | Add +6.5% | 0.58% | +0.03 |
| IBIT iShares Bitcoin Trust ETF | Add +243.3% | 0.04% | +0.02 |
| SLV iShares Silver Trust | Add +1.2% | 0.06% | +0.02 |
| QQQ Invesco QQQ Trust Series 1 | Add +29.9% | 0.09% | +0.02 |
| ESGE iShares Inc. iShares ESG Awar | Add +15.4% | 0.17% | +0.02 |
| FSLR First Solar Inc. | Add +4.9% | 0.10% | +0.02 |
| VEA Vanguard Ftse Developed ETF | Add +0.4% | 2.58% | +0.01 |
| IWB iShares Russell 1000 ETF | Add +163.9% | 0.02% | +0.01 |
| EAGG iShares ESG Aware US Aggrega | Add +9.0% | 0.31% | +0.01 |
| ESGU iShares ESG Aware MSCI USA | New | 0.01% | +0.01 |
| LLY Eli Lilly & Co. | Add +1.1% | 0.04% | +0.01 |
| LNT Alliant Energy Corp. | Add +740.9% | 0.01% | +0.01 |
| XVV iShares ESG Select Screened | Add +4.0% | 0.46% | +0.01 |
| MRK Merck & Co. Inc. | Add +0.8% | 0.05% | +0.01 |
| SPHQ Invesco S&P 500 Quality ETF | Add +2.2% | 1.46% | +0.01 |
| STE Steris PLC | New | 0.01% | +0.01 |
| AMZN Amazon.com Inc. | Add +2.4% | 0.24% | +0.01 |
| IUSG iShares Core S&P U.S. Growth | New | 0.01% | +0.01 |
| SUSC iShares ESG Aware Usd Corpor | Add +12.9% | 0.11% | +0.01 |
| SNPS Synopsys Inc. | Add +788.0% | 0.01% | +0.01 |
| MMM 3M Co. | Add +13.6% | 0.07% | +0.01 |
| RKT Rocket Cos Inc. Class A | New | 0.01% | +0.01 |
| CNP Centerpoint Energy Inc. | Add +217.9% | 0.01% | +0.01 |
| IWF iShares Russell 1000 Growth | Add +15.4% | 0.05% | +0.01 |
| DSI iShares ESG MSCI KLD 400 ETF | Add +17.9% | 0.04% | +0.01 |
| GRID First TRST Nasd Class Edg Sgiif | Add +150.0% | 0.01% | +0.00 |
| OHI Omega Healthcare Investors | Add +177.5% | 0.01% | +0.00 |
| DAL Delta Air Lines Inc. | Add +28.1% | 0.01% | +0.00 |
| DFSI Dimensional Int Sus COR1 ETF | New | 0.00% | +0.00 |
| BNY Bank of New York Mellon Corp. | Add +5.7% | 0.04% | +0.00 |
| BMY Bristol-Myers Squibb Co. | Add +0.6% | 0.03% | +0.00 |
| SPMD SS SPDR P S&P 400 Midcap ETF | Add +2.8% | 4.48% | +0.00 |
| XJR Ishr ESG SS S&P Smal-Cap-Usd | Add +7.3% | 0.10% | +0.00 |
| NEM Newmont Corp. | Add +1.1% | 0.02% | +0.00 |
| FSSL FS Specialty Lending Fund | New | 0.00% | +0.00 |
| VOO Vanguard S&P 500 ETF | Add +6.0% | 0.07% | +0.00 |
| F Ford Motor Co. | Add +188.4% | 0.00% | +0.00 |
| AMGN Amgen Inc. | Add +0.7% | 0.02% | +0.00 |
| CAT Caterpillar Inc. | Add +5.0% | 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 |