LFA - Lugano Financial Advisors SA

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 3, 2024), LFA - Lugano Financial Advisors SA reported 160 stock positions worth $137.4 million. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 17.1% of the portfolio, followed by iShares ESG Aware 1-5 Year U (SUSB, 3.9%) and SPDR Gold Shares (GLD, 3.9%). Compared with Q4 2023, it opened 16 new positions, sold out of 26, added to 40 and reduced 32. The biggest buy was iShares Ibonds Dec 2029 Term (IBDU, shares +95%) and the biggest sale Vanguard Intermediate-Term B (BIV, shares −73%).

Most Recent 13F
Q2 2026
Location
LUGANO, V8
CIK
0001737871
Portfolio Value
$137.4M (Q1 2024)
SEC Filing
0001737871-24-000002 ↗ filed May 3, 2024

Holdings Value

0$50.0M$100.0M$150.0M$200.0M Q1 2024: $137.4M $137.4M Q1 2024 Q2 2024: $131.3M Q2 2024 Q3 2024: $147.1M Q3 2024 Q4 2024: $153.0M Q4 2024 Q1 2025: $147.1M Q1 2025 Q2 2025: $168.8M Q2 2025 Q3 2025: $189.7M Q3 2025 Q4 2025: $193.7M Q4 2025 Q1 2026: $196.6M Q1 2026 Q2 2026: $166.2M Q2 2026

Holdings 160 stocks · $137.4M
SPY SS SPDR S&P 500 ETF Trust-US 17.09% 44,890 $23.5M Add +2.5%
SUSB iShares ESG Aware 1-5 Year U 3.94% 220,922 $5.4M Reduce -3.1%
GLD SPDR Gold Shares 3.88% 25,917 $5.3M Add +5.5%
PDBC Invesco Optimum Yield Divers 3.36% 332,278 $4.6M Reduce -0.6%
CIBR First Trust Nasdaq Cybersecu 3.20% 77,953 $4.4M Reduce -0.8%
IGIB iShares 5-10Y Inv Grade Corp. 3.02% 80,413 $4.1M Add +0.1%
VWOB Vanguard Emerg MKTS Gov BND 3.02% 64,961 $4.1M Reduce -0.3%
VCSH Vanguard S/T Corp. Bond ETF 3.01% 53,564 $4.1M Reduce -0.8%
QLTA iShares Aaa - A Rated Corpor 2.87% 83,126 $3.9M Add +0.2%
BLV Vanguard Long-Term Bond ETF 2.65% 50,261 $3.6M Reduce -3.4%
VGIT Vanguard Intermediate-Term T 2.56% 60,046 $3.5M Add +2.5%
QAI Nylim HDG MLT-STR TRC ETF-Ui 2.54% 112,790 $3.5M Add +4.5%
SUSA iShares ESG Optimized MSCI U 2.48% 31,255 $3.4M No change
FEZ State Street SPDR Euro Stoxx 2.35% 61,377 $3.2M Reduce -0.6%
IBDU iShares Ibonds Dec 2029 Term 2.24% 134,544 $3.1M Add +95.3%
FTLS First Trust Long/Short Eqty 2.23% 49,622 $3.1M Add +4.3%
SJNK SS SPDR BB St Hi Yield ETF 2.16% 117,827 $3.0M Add +2.2%
VWO Vanguard Ftse Emerging Marke 1.97% 64,850 $2.7M Reduce -0.4%
IBDT iShares Ibonds Dec 2028 ETF 1.86% 102,431 $2.6M Add +68.9%
SHY iShares 1-3 Year Treasury Bo 1.78% 29,874 $2.4M Reduce -0.6%
NUMG Nuveen ESG Mid-Cap Grow ETF 1.68% 51,921 $2.3M No change
MSFT Microsoft Corp. 1.67% 5,457 $2.3M Reduce -1.9%
QQQ Invesco QQQ Trust Series 1 1.59% 4,930 $2.2M Add +91.4%
AMZN Amazon.com Inc. 1.34% 10,183 $1.8M Reduce -1.9%
EFA iShares MSCI Eafe ETF 1.31% 22,482 $1.8M Reduce -3.2%
IEI iShares 3-7 Year Treasury Bo 1.25% 14,861 $1.7M No change
EMB iShares JP Morgan Usd Emergi 1.13% 17,300 $1.6M Reduce -1.9%
TSM Taiwan Semiconductor-SP ADR 1.11% 11,194 $1.5M Reduce -1.9%
IEF iShares 7-10 Year Treasury B 0.93% 13,529 $1.3M Reduce -6.4%
BIV Vanguard Intermediate-Term B 0.82% 14,901 $1.1M Reduce -73.0%
PSP Invesco Global Listed Privat 0.79% 16,485 $1.1M Reduce -11.7%
VCIT Vanguard Int-Term Corporate 0.78% 13,377 $1.1M Reduce -3.0%
CWB SS SPDR BB Conv Sec ETF 0.74% 13,981 $1.0M No change
EMNT PIMCO Enhcd St M-Active ESG 0.71% 9,900 $976K No change
ESGE iShares Inc. iShares ESG Awar 0.67% 28,392 $915K Reduce -5.7%
BNDX Vanguard Total Intl Bond ETF 0.63% 17,683 $870K Reduce -14.3%
EWL iShares MSCI Switzerland ETF 0.59% 17,044 $811K Add +17.8%
VGT Vanguard Info Tech ETF 0.52% 1,350 $708K New
VHT Vanguard Health Care ETF 0.50% 2,550 $690K New
AAPL Apple Inc. 0.49% 3,895 $668K Add +59.2%
VCLT Vanguard Long-Term Corp. Bond 0.48% 8,485 $664K Add +3.3%
RNRG Global X Renewable Ener Prod 0.46% 63,880 $629K No change
EWU iShares MSCI United Kingdom 0.37% 14,874 $509K Reduce -3.6%
PIO Invesco Global Water ETF 0.36% 11,497 $496K No change
CAT Caterpillar Inc. 0.33% 1,250 $458K Add +400.0%
EEM iShares MSCI Emerging Market 0.33% 11,073 $455K Add +2.3%
GOOG Alphabet Inc. Class C 0.33% 2,980 $454K No change
HEWJ Isha Curr Hedged MSCI Japan 0.33% 10,697 $450K Reduce -2.9%
XLI SS Industrial Select Sector 0.32% 3,500 $441K Reduce -3.6%
FPEI First Trust Institutional PR 0.32% 24,000 $437K No change
BND Vanguard Total Bond Market 0.23% 4,433 $322K No change
XLF SS Financial Select Sector 0.22% 7,300 $307K No change
XLP SS Consumer Staples Sel Sect 0.22% 4,000 $305K Add +490.8%
JPM JPMorgan Chase & Co. 0.22% 1,490 $298K No change
KKR KKR & Co. Inc. 0.21% 2,850 $287K Add +96.5%
BGRN iShares Usd Green Bond ETF 0.20% 5,959 $279K No change
BX Blackstone Inc. 0.19% 2,000 $263K No change
IVE iShares S&P 500 Value ETF 0.19% 1,400 $262K New
VRP Invesco Variable Rate Prefer 0.17% 10,077 $240K Reduce -13.3%
XLY SS Consumer Disc Select Sect 0.17% 1,300 $239K Add +1283.0%
GIS General Mills Inc. 0.17% 3,295 $231K Add +91.0%
ABT Abbott Laboratories 0.16% 1,928 $219K Add +26.2%
ABBV Abbvie Inc. 0.16% 1,200 $219K No change
EMXC iShares MSCI Emr MRK Ex Chna 0.15% 3,547 $204K No change
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.15% 800 $200K Add +100.0%
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.14% 500 $199K New
URTH iShares MSCI World ETF 0.14% 1,362 $197K Add +232.2%
URI United Rentals Inc. 0.14% 271 $195K No change
V Visa Inc. Class A 0.14% 691 $193K No change
VYM Vanguard High DVD Yield ETF 0.14% 1,555 $188K Add +16.9%
DE Deere & Co. 0.13% 434 $178K Add +486.5%
GBTC Grayscale Bitcoin Trust ETF 0.13% 2,750 $174K New
XLE SS Energy Select Sector 0.13% 1,830 $173K New
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 0.13% 2,212 $172K No change
HON Honeywell International Inc. 0.12% 832 $171K No change
BWZ State Street SPDR Bloomberg 0.12% 6,455 $170K No change
XLK SS Technology Select Sector 0.12% 813 $169K No change
ZTS Zoetis Inc. 0.12% 1,000 $169K No change
YUM Yum! Brands Inc. 0.12% 1,200 $166K No change
IBB iShares Biotechnology ETF 0.12% 1,200 $165K New
MDLZ Mondelez International Inc. Class A 0.12% 2,300 $161K No change
GHYG iShares Us&intl High Yield C 0.12% 3,601 $159K No change
FTSL First Trust Senior Loan ETF 0.11% 3,270 $151K New
EBND State Street SPDR Bloomberg 0.11% 7,185 $147K Add +117.7%
TSCO Tractor Supply Company 0.11% 553 $145K No change
MCD McDonald's Corp. 0.10% 500 $141K Reduce -12.3%
META Meta Platforms Inc. Class A 0.10% 285 $138K Add +216.7%
QCOM Qualcomm Inc. 0.10% 815 $138K Add +25.4%
IVV iShares Core S&P 500 ETF 0.10% 257 $135K No change
AZN Astrazeneca PLC-Spons ADR 0.09% 1,900 $129K Add +550.7%
BKLN Invesco Senior Loan ETF 0.09% 6,065 $128K No change
IYK iShares US Consumer Staples 0.09% 1,809 $122K No change
SPYD SS SPDR P S&P 500 Hi Div ETF 0.09% 2,998 $122K Reduce -9.6%
TSLA Tesla Inc. 0.09% 693 $122K Add +56.4%
DTE DTE Energy Company 0.09% 1,082 $121K No change
ED Consolidated Edison Inc. 0.09% 1,316 $120K No change
IEFA iShares Core MSCI Eafe ETF 0.09% 1,582 $117K Reduce -33.6%
PBW Invesco Wilderhill Clean Ene 0.08% 5,000 $115K No change
ADSK Autodesk Inc. 0.08% 425 $111K No change
LLY Eli Lilly & Co. 0.08% 139 $108K No change
TLH iShares 10-20 Year Treasury 0.08% 1,024 $108K Reduce -28.8%
DEO Diageo PLC-Sponsored ADR 0.08% 700 $104K No change
EA Electronic Arts Inc. 0.08% 780 $103K New
PFF iShares Preferred & Income S 0.07% 3,175 $102K Add +91.0%
YUMC Yum China Holdings Inc. 0.07% 2,500 $99K No change
VT Vanguard Tot World STK ETF 0.07% 900 $99K No change
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 0.07% 395 $99K New
SDG Ish MSCI Glob Sust Deve Goal 0.07% 1,250 $98K No change
KO The Coca-Cola Co. 0.07% 1,600 $98K No change
AEP American Electric Power 0.07% 1,125 $97K Add +772.1%
XOM Exxon Mobil Corp. 0.07% 813 $95K Add +1131.8%
GOOGL Alphabet Inc. Class A 0.07% 617 $93K Add +18.2%
C Citigroup Inc. 0.06% 1,400 $89K New
VTWO Vanguard Russell 2000 ETF 0.06% 1,000 $85K No change
PEP Pepsico Inc. 0.06% 460 $81K Add +193.0%
VZ Verizon Communications Inc. 0.05% 1,760 $74K Add +168.7%
EWG iShares MSCI Germany ETF 0.05% 2,223 $71K Reduce -25.9%
LEN Lennar Corp. Class A 0.05% 394 $68K New
IXN iShares Global Tech ETF 0.05% 900 $67K No change
XLC SS Comm Select Sector SPDR 0.05% 801 $65K No change
BKNG Booking Holdings Inc. 0.05% 18 $65K New
DD Dupont DE Nemours Inc. 0.04% 800 $61K New
CMCSA Comcast Corp. Class A 0.04% 1,400 $61K No change
DOW Dow Inc. 0.04% 1,000 $58K New
PFE Pfizer Inc. 0.04% 2,000 $56K No change
GDX Vaneck Gold Miners ETF 0.04% 1,742 $55K No change
CARR Carrier Global Corp. 0.04% 890 $52K No change
BBH Vaneck Biotech ETF 0.04% 310 $52K New
NVDA Nvidia Corp. 0.04% 56 $51K No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.04% 1,328 $50K Add +348.6%
IEMG iShares Core MSCI Emerging 0.04% 957 $49K No change
HEDJ Wisdomtree Europe Hedged Equ 0.04% 1,022 $49K No change
MAR Marriott International Class A 0.03% 182 $46K No change
TXN Texas Instruments Inc. 0.03% 250 $44K No change
DXJ Wisdomtree Japan Hedged Eq 0.03% 380 $41K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.03% 300 $37K No change
AVGO Broadcom Inc. 0.03% 26 $34K Add +52.9%
XLV SS Health Care Select Sector 0.02% 228 $34K Reduce -67.0%
MA Mastercard Inc. Class A 0.02% 64 $31K No change
BABA Alibaba Group Holding-SP ADR 0.02% 408 $30K No change
ACWX iShares MSCI Acwi Ex US ETF 0.02% 499 $27K No change
CVS CVS Health Corp. 0.02% 316 $25K Add +300.0%
CSCO Cisco Systems Inc. 0.02% 500 $25K No change
ECL Ecolab Inc. 0.01% 87 $20K No change
HUM Humana Inc. 0.01% 57 $20K Add +612.5%
PICK iShares MSCI Global Metals & 0.01% 460 $19K No change
CRM Salesforce Inc. 0.01% 62 $19K No change
TTE Totalenergies SE -Spon ADR 0.01% 249 $17K Reduce -17.0%
ADP Automatic Data Processing 0.01% 67 $17K No change
INDA iShares MSCI India ETF 0.01% 251 $13K No change
QS Quantumscape Corp. 0.01% 2,000 $13K No change
URA Global X Uranium ETF 0.01% 435 $13K No change
MRK Merck & Co. Inc. 0.01% 90 $12K No change
GLW Corning Inc. 0.01% 345 $11K No change
GILD Gilead Sciences Inc. 0.01% 150 $11K No change
CNYA iShares MSCI China A ETF 0.01% 387 $10K No change
XYZ Block Inc. 0.01% 115 $10K No change
WFC Wells Fargo & Co. 0.00% 81 $5K No change
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.00% 80 $4K Reduce -79.0%
BRK.B Berkshire Hathaway Inc. Class B 0.00% 10 $4K No change

Portfolio Sells Q4 2023 → Q1 2024
BIV Vanguard Intermediate-Term B Reduce -73.0% 0.82% −2.50
SUSB iShares ESG Aware 1-5 Year U Reduce -3.1% 3.94% −0.45
BLV Vanguard Long-Term Bond ETF Reduce -3.4% 2.65% −0.40
VCSH Vanguard S/T Corp. Bond ETF Reduce -0.8% 3.01% −0.27
VWOB Vanguard Emerg MKTS Gov BND Reduce -0.3% 3.02% −0.24
KRE SS SPDR S&P Regional Bank Sold out 0.00% −0.23
BNDX Vanguard Total Intl Bond ETF Reduce -14.3% 0.63% −0.17
IEF iShares 7-10 Year Treasury B Reduce -6.4% 0.93% −0.16
SHY iShares 1-3 Year Treasury Bo Reduce -0.6% 1.78% −0.16
PDBC Invesco Optimum Yield Divers Reduce -0.6% 3.36% −0.14
VWO Vanguard Ftse Emerging Marke Reduce -0.4% 1.97% −0.13
CIBR First Trust Nasdaq Cybersecu Reduce -0.8% 3.20% −0.12
PSP Invesco Global Listed Privat Reduce -11.7% 0.79% −0.12
EMB iShares JP Morgan Usd Emergi Reduce -1.9% 1.13% −0.11
NVR NVR Inc. Sold out 0.00% −0.10
NUE Nucor Corp. Sold out 0.00% −0.10
VCIT Vanguard Int-Term Corporate Reduce -3.0% 0.78% −0.10
ESGE iShares Inc. iShares ESG Awar Reduce -5.7% 0.67% −0.09
AEE Ameren Corporation Sold out 0.00% −0.08
K Kellanova Sold out 0.00% −0.08
EFA iShares MSCI Eafe ETF Reduce -3.2% 1.31% −0.07
XLV SS Health Care Select Sector Reduce -67.0% 0.02% −0.05
IEFA iShares Core MSCI Eafe ETF Reduce -33.6% 0.09% −0.05
MS Morgan Stanley Sold out 0.00% −0.05
TLH iShares 10-20 Year Treasury Reduce -28.8% 0.08% −0.04
EWJ iShares MSCI Japan ETF Sold out 0.00% −0.04
INTC Intel Corp. Sold out 0.00% −0.04
VRP Invesco Variable Rate Prefer Reduce -13.3% 0.17% −0.04
MCD McDonald's Corp. Reduce -12.3% 0.10% −0.03
EWU iShares MSCI United Kingdom Reduce -3.6% 0.37% −0.03
BLOK Amplify Blockchain Tech ETF Sold out 0.00% −0.03
UNH Unitedhealth Group Inc. Sold out 0.00% −0.03
SPGI S&P Global Inc. Sold out 0.00% −0.03
KWEB Kranesh Csi China Internet Sold out 0.00% −0.03
BLK BlackRock Finance Inc. Sold out 0.00% −0.02
MBB iShares MBS ETF Sold out 0.00% −0.02
CBON Vaneck China Bond ETF Sold out 0.00% −0.02
ICE Intercontinental Exchange Inc. Sold out 0.00% −0.02
EWG iShares MSCI Germany ETF Reduce -25.9% 0.05% −0.02
CME Cme Group Inc. Sold out 0.00% −0.02
VSS Vanguard Ftse All Wo X-US SC Sold out 0.00% −0.02
TMO Thermo Fisher Scientific Inc. Sold out 0.00% −0.02
CVX Chevron Corp. Sold out 0.00% −0.02
PM Philip Morris International Sold out 0.00% −0.01
GII State Street SPDR S&P Global Sold out 0.00% −0.01
SPYD SS SPDR P S&P 500 Hi Div ETF Reduce -9.6% 0.09% −0.01
SLB SLB Ltd. Reduce -79.0% 0.00% −0.01
HD Home Depot Inc. Sold out 0.00% −0.01
BDX Becton Dickinson and Co. Sold out 0.00% −0.01
KLG WK Kellogg Co. Sold out 0.00% −0.00

Portfolio Buys Q4 2023 → Q1 2024
IBDU iShares Ibonds Dec 2029 Term Add +95.3% 2.24% +0.99
QQQ Invesco QQQ Trust Series 1 Add +91.4% 1.59% +0.76
SPY SS SPDR S&P 500 ETF Trust-US Add +2.5% 17.09% +0.74
IBDT iShares Ibonds Dec 2028 ETF Add +68.9% 1.86% +0.66
VGT Vanguard Info Tech ETF New 0.52% +0.52
VHT Vanguard Health Care ETF New 0.50% +0.50
CAT Caterpillar Inc. Add +400.0% 0.33% +0.28
GLD SPDR Gold Shares Add +5.5% 3.88% +0.19
IVE iShares S&P 500 Value ETF New 0.19% +0.19
XLP SS Consumer Staples Sel Sect Add +490.8% 0.22% +0.18
XLY SS Consumer Disc Select Sect Add +1283.0% 0.17% +0.16
DIA SS SPDR Dow Jones Indus Avg New 0.14% +0.14
GBTC Grayscale Bitcoin Trust ETF New 0.13% +0.13
XLE SS Energy Select Sector New 0.13% +0.13
FTLS First Trust Long/Short Eqty Add +4.3% 2.23% +0.12
IBB iShares Biotechnology ETF New 0.12% +0.12
AAPL Apple Inc. Add +59.2% 0.49% +0.12
KKR KKR & Co. Inc. Add +96.5% 0.21% +0.11
FTSL First Trust Senior Loan ETF New 0.11% +0.11
DE Deere & Co. Add +486.5% 0.13% +0.11
URTH iShares MSCI World ETF Add +232.2% 0.14% +0.10
GIS General Mills Inc. Add +91.0% 0.17% +0.08
AZN Astrazeneca PLC-Spons ADR Add +550.7% 0.09% +0.08
META Meta Platforms Inc. Class A Add +216.7% 0.10% +0.08
EA Electronic Arts Inc. New 0.08% +0.08
VO Vngrd Mrngstr MD-Cap ETF-Usd Add +100.0% 0.15% +0.07
AJG Arthur J Gallagher & Co. New 0.07% +0.07
C Citigroup Inc. New 0.06% +0.06
XOM Exxon Mobil Corp. Add +1131.8% 0.07% +0.06
AEP American Electric Power Add +772.1% 0.07% +0.06
EBND State Street SPDR Bloomberg Add +117.7% 0.11% +0.05
LEN Lennar Corp. Class A New 0.05% +0.05
BKNG Booking Holdings Inc. New 0.05% +0.05
DD Dupont DE Nemours Inc. New 0.04% +0.04
DOW Dow Inc. New 0.04% +0.04
EWL iShares MSCI Switzerland ETF Add +17.8% 0.59% +0.04
PEP Pepsico Inc. Add +193.0% 0.06% +0.04
BBH Vaneck Biotech ETF New 0.04% +0.04
VZ Verizon Communications Inc. Add +168.7% 0.05% +0.03
PFF iShares Preferred & Income S Add +91.0% 0.07% +0.03
BAC Bank of America Corp. Add +348.6% 0.04% +0.03
ABT Abbott Laboratories Add +26.2% 0.16% +0.03
QCOM Qualcomm Inc. Add +25.4% 0.10% +0.03
VYM Vanguard High DVD Yield ETF Add +16.9% 0.14% +0.02
CVS CVS Health Corp. Add +300.0% 0.02% +0.01
HUM Humana Inc. Add +612.5% 0.01% +0.01
GOOGL Alphabet Inc. Class A Add +18.2% 0.07% +0.01
AVGO Broadcom Inc. Add +52.9% 0.03% +0.01
TSLA Tesla Inc. Add +56.4% 0.09% +0.00
EEM iShares MSCI Emerging Market Add +2.3% 0.33% −0.01

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 274$166.2MSPY, FNDE, GLD, IGIB, VCSH
Q1 2026 223$196.6MSPY, ESGD, GLD, FNDE, SUSB
Q4 2025 235$193.7MSPY, ESGD, GLD, SUSB, FNDE
Q3 2025 229$189.7MSPY, ESGD, SUSB, GLD, FNDE
Q2 2025 245$168.8MSPY, ESGD, SUSB, GLD, IGIB
Q1 2025 191$147.1MSPY, GLD, SDVY, SUSB, SUSA
Q4 2024 193$153.0MSPY, SDVY, GLD, SUSA, SUSB
Q3 2024 183$147.1MSPY, GLD, SUSB, SUSA, CIBR
Q2 2024 172$131.3MSPY, GLD, SUSA, SUSB, PDBC
Q1 2024 160$137.4MSPY, SUSB, GLD, PDBC, CIBR