LFA - Lugano Financial Advisors SA

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed July 30, 2024), LFA - Lugano Financial Advisors SA reported 172 stock positions worth $131.3 million. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 17.2% of the portfolio, followed by SPDR Gold Shares (GLD, 4.2%) and iShares ESG Optimized MSCI U (SUSA, 4.2%). Compared with Q1 2024, it opened 24 new positions, sold out of 12, added to 32 and reduced 30. The biggest buy was iShares ESG Optimized MSCI U (SUSA, shares +58%) and the biggest sale an exit from Vanguard Ftse Emerging Marke (VWO).

Most Recent 13F
Q2 2026
Location
LUGANO, V8
CIK
0001737871
Portfolio Value
$131.3M (Q2 2024)
SEC Filing
0001737871-24-000004 ↗ filed Jul 30, 2024

Holdings Value

0$50.0M$100.0M$150.0M$200.0M Q1 2024: $137.4M Q1 2024 Q2 2024: $131.3M $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 172 stocks · $131.3M
SPY SS SPDR S&P 500 ETF Trust-US 17.25% 41,607 $22.6M Reduce -7.3%
GLD SPDR Gold Shares 4.25% 25,923 $5.6M Add +0.0%
SUSA iShares ESG Optimized MSCI U 4.22% 49,246 $5.5M Add +57.6%
SUSB iShares ESG Aware 1-5 Year U 4.12% 220,922 $5.4M No change
PDBC Invesco Optimum Yield Divers 3.38% 315,732 $4.4M Reduce -5.0%
CIBR First Trust Nasdaq Cybersecu 3.28% 76,388 $4.3M Reduce -2.0%
VWOB Vanguard Emerg MKTS Gov BND 3.06% 63,869 $4.0M Reduce -1.7%
QLTA iShares Aaa - A Rated Corpor 3.01% 84,289 $3.9M Add +1.4%
IGIB iShares 5-10Y Inv Grade Corp. 2.99% 76,483 $3.9M Reduce -4.9%
VCSH Vanguard S/T Corp. Bond ETF 2.89% 49,031 $3.8M Reduce -8.5%
IBDU iShares Ibonds Dec 2029 Term 2.66% 154,098 $3.5M Add +14.5%
BLV Vanguard Long-Term Bond ETF 2.57% 47,922 $3.4M Reduce -4.7%
VGIT Vanguard Intermediate-Term T 2.56% 57,614 $3.4M Reduce -4.0%
FTLS First Trust Long/Short Eqty 2.48% 51,967 $3.3M Add +4.7%
IBDT iShares Ibonds Dec 2028 ETF 2.42% 128,046 $3.2M Add +25.0%
IEF iShares 7-10 Year Treasury B 2.28% 31,972 $3.0M Add +136.3%
SJNK SS SPDR BB St Hi Yield ETF 2.12% 111,445 $2.8M Reduce -5.4%
QAI Nylim HDG MLT-STR TRC ETF-Ui 2.12% 89,499 $2.8M Reduce -20.6%
MSFT Microsoft Corp. 1.85% 5,430 $2.4M Reduce -0.5%
QQQ Invesco QQQ Trust Series 1 1.80% 4,941 $2.4M Add +0.2%
SHY iShares 1-3 Year Treasury Bo 1.68% 26,940 $2.2M Reduce -9.8%
AMZN Amazon.com Inc. 1.60% 10,888 $2.1M Add +6.9%
FEZ State Street SPDR Euro Stoxx 1.54% 40,322 $2.0M Reduce -34.3%
NUMG Nuveen ESG Mid-Cap Grow ETF 1.48% 46,520 $1.9M Reduce -10.4%
EFA iShares MSCI Eafe ETF 1.34% 22,482 $1.8M No change
EMB iShares JP Morgan Usd Emergi 1.07% 15,833 $1.4M Reduce -8.5%
VCIT Vanguard Int-Term Corporate 0.97% 15,882 $1.3M Add +18.7%
BIV Vanguard Intermediate-Term B 0.84% 14,666 $1.1M Reduce -1.6%
CWB SS SPDR BB Conv Sec ETF 0.77% 13,981 $1.0M No change
EMNT PIMCO Enhcd St M-Active ESG 0.74% 9,900 $977K No change
AAPL Apple Inc. 0.68% 4,255 $896K Add +9.2%
VGT Vanguard Info Tech ETF 0.59% 1,350 $778K No change
PSP Invesco Global Listed Privat 0.59% 12,610 $770K Reduce -23.5%
VHT Vanguard Health Care ETF 0.52% 2,550 $678K No change
EWL iShares MSCI Switzerland ETF 0.48% 13,204 $637K Reduce -22.5%
RNRG Global X Renewable Ener Prod 0.48% 63,880 $636K No change
GOOG Alphabet Inc. Class C 0.42% 2,980 $547K No change
BNDX Vanguard Total Intl Bond ETF 0.38% 10,307 $502K Reduce -41.7%
VCLT Vanguard Long-Term Corp. Bond 0.37% 6,408 $486K Reduce -24.5%
PIO Invesco Global Water ETF 0.35% 11,497 $465K No change
FPEI First Trust Institutional PR 0.34% 24,000 $441K No change
XLI SS Industrial Select Sector 0.32% 3,500 $427K No change
CAT Caterpillar Inc. 0.32% 1,250 $416K No change
EWU iShares MSCI United Kingdom 0.32% 11,919 $416K Reduce -19.9%
BND Vanguard Total Bond Market 0.27% 4,868 $351K Add +9.8%
XLP SS Consumer Staples Sel Sect 0.23% 4,000 $306K No change
JPM JPMorgan Chase & Co. 0.23% 1,490 $301K No change
XLF SS Financial Select Sector 0.23% 7,300 $300K No change
KKR KKR & Co. Inc. 0.23% 2,850 $300K No change
HEWJ Isha Curr Hedged MSCI Japan 0.22% 6,630 $289K Reduce -38.0%
DBMF Imgp Dbi MFT STR ETF-Usd Inc. 0.22% 9,600 $289K New
GOOGL Alphabet Inc. Class A 0.22% 1,580 $288K Add +156.1%
BGRN iShares Usd Green Bond ETF 0.21% 5,959 $277K No change
URTH iShares MSCI World ETF 0.21% 1,868 $276K Add +37.1%
V Visa Inc. Class A 0.20% 991 $260K Add +43.4%
IVE iShares S&P 500 Value ETF 0.19% 1,400 $255K No change
BX Blackstone Inc. 0.19% 2,000 $248K No change
XLY SS Consumer Disc Select Sect 0.18% 1,300 $237K No change
ABT Abbott Laboratories 0.18% 2,227 $231K Add +15.5%
VRP Invesco Variable Rate Prefer 0.17% 9,514 $228K Reduce -5.6%
EMXC iShares MSCI Emr MRK Ex Chna 0.16% 3,547 $210K No change
ABBV Abbvie Inc. 0.16% 1,200 $206K No change
BWZ State Street SPDR Bloomberg 0.15% 7,802 $200K Add +20.9%
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.15% 500 $196K No change
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.15% 800 $194K No change
VYM Vanguard High DVD Yield ETF 0.14% 1,555 $184K No change
XLK SS Technology Select Sector 0.14% 813 $184K No change
KO The Coca-Cola Co. 0.14% 2,800 $178K Add +75.0%
HON Honeywell International Inc. 0.14% 832 $178K No change
ZTS Zoetis Inc. 0.13% 1,000 $173K No change
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 0.13% 2,212 $171K No change
XLE SS Energy Select Sector 0.13% 1,830 $167K No change
IBB iShares Biotechnology ETF 0.13% 1,200 $165K No change
QCOM Qualcomm Inc. 0.12% 815 $162K No change
DE Deere & Co. 0.12% 434 $162K No change
MDLZ Mondelez International Inc. Class A 0.11% 2,300 $151K No change
FTSL First Trust Senior Loan ETF 0.11% 3,270 $149K No change
AZN Astrazeneca PLC-Spons ADR 0.11% 1,900 $148K No change
META Meta Platforms Inc. Class A 0.11% 285 $144K No change
TSLA Tesla Inc. 0.11% 723 $143K Add +4.3%
EBND State Street SPDR Bloomberg 0.11% 7,185 $143K No change
IVV iShares Core S&P 500 ETF 0.11% 257 $141K No change
LLY Eli Lilly & Co. 0.11% 153 $139K Add +10.1%
GBTC Grayscale Bitcoin Trust ETF 0.10% 2,750 $131K No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.10% 3,278 $130K Add +146.8%
GDX Vaneck Gold Miners ETF 0.10% 3,826 $130K Add +119.6%
YUM Yum! Brands Inc. 0.10% 970 $128K Reduce -19.2%
BKLN Invesco Senior Loan ETF 0.10% 6,065 $128K No change
MCD McDonald's Corp. 0.10% 500 $127K No change
GHYG iShares Us&intl High Yield C 0.09% 2,845 $124K Reduce -21.0%
MA Mastercard Inc. Class A 0.09% 278 $123K Add +334.4%
PEP Pepsico Inc. 0.09% 734 $121K Add +59.6%
IYK iShares US Consumer Staples 0.09% 1,809 $119K No change
IEFA iShares Core MSCI Eafe ETF 0.09% 1,628 $118K Add +2.9%
ED Consolidated Edison Inc. 0.09% 1,316 $118K No change
PFE Pfizer Inc. 0.09% 4,000 $112K Add +100.0%
ITA iShares U.S. Aerospace & Def 0.08% 830 $110K New
EA Electronic Arts Inc. 0.08% 780 $109K No change
SPYD SS SPDR P S&P 500 Hi Div ETF 0.08% 2,690 $108K Reduce -10.3%
TLH iShares 10-20 Year Treasury 0.08% 1,024 $105K No change
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 0.08% 395 $102K No change
VT Vanguard Tot World STK ETF 0.08% 900 $101K No change
NVDA Nvidia Corp. 0.08% 820 $101K Add +46.4%
PBW Invesco Wilderhill Clean Ene 0.08% 5,000 $101K No change
PFF iShares Preferred & Income S 0.08% 3,175 $100K No change
AEP American Electric Power 0.08% 1,125 $99K No change
SDG Ish MSCI Glob Sust Deve Goal 0.07% 1,250 $94K No change
XOM Exxon Mobil Corp. 0.07% 813 $94K No change
EW Edwards Lifesciences Corp. 0.07% 1,000 $92K New
LEN Lennar Corp. Class A 0.07% 596 $89K Add +51.3%
C Citigroup Inc. 0.07% 1,400 $89K No change
DEO Diageo PLC-Sponsored ADR 0.07% 700 $88K No change
MRK Merck & Co. Inc. 0.06% 681 $84K Add +656.7%
VTWO Vanguard Russell 2000 ETF 0.06% 1,000 $82K No change
CVS CVS Health Corp. 0.06% 1,316 $78K Add +316.5%
IXN iShares Global Tech ETF 0.06% 900 $75K No change
VZ Verizon Communications Inc. 0.06% 1,760 $73K No change
ADSK Autodesk Inc. 0.05% 283 $70K Reduce -33.4%
XLC SS Comm Select Sector SPDR 0.05% 801 $69K No change
EWG iShares MSCI Germany ETF 0.05% 2,223 $68K No change
CL Colgate-Palmolive Co. 0.05% 700 $68K New
DD Dupont DE Nemours Inc. 0.05% 800 $64K No change
OIH Vaneck Oil Services ETF 0.05% 200 $63K New
HD Home Depot Inc. 0.05% 180 $62K New
MMM 3M Co. 0.05% 600 $61K New
UL Unilever PLC 0.05% 1,100 $60K New
RMD Resmed Inc. 0.05% 312 $60K New
BKNG Booking Holdings Inc. 0.05% 15 $59K Reduce -16.7%
MO Altria Group Inc. 0.05% 1,300 $59K New
PYPL PayPal Holdings Inc. 0.04% 1,000 $58K New
T AT&T Inc. 0.04% 3,000 $57K New
CARR Carrier Global Corp. 0.04% 890 $56K No change
CMCSA Comcast Corp. Class A 0.04% 1,400 $55K No change
KWEB Kranesh Csi China Internet 0.04% 2,000 $54K New
DOW Dow Inc. 0.04% 1,000 $53K No change
BBH Vaneck Biotech ETF 0.04% 310 $52K No change
CVX Chevron Corp. 0.04% 330 $52K New
HEDJ Wisdomtree Europe Hedged Equ 0.04% 1,022 $46K No change
MAR Marriott International Class A 0.03% 182 $44K No change
DXJ Wisdomtree Japan Hedged Eq 0.03% 380 $43K No change
WFC Wells Fargo & Co. 0.03% 646 $38K Add +697.5%
WBD Warner Bros Discovery Inc. 0.03% 5,000 $37K New
BA The Boeing Co. 0.03% 200 $36K New
EWJ iShares MSCI Japan ETF 0.03% 524 $36K New
IEMG iShares Core MSCI Emerging 0.03% 660 $35K Reduce -31.0%
XLV SS Health Care Select Sector 0.03% 228 $33K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.02% 300 $30K No change
JNJ Johnson & Johnson 0.02% 195 $29K New
TAN Invesco Solar ETF 0.02% 700 $28K New
ACWX iShares MSCI Acwi Ex US ETF 0.02% 499 $27K No change
CSCO Cisco Systems Inc. 0.02% 500 $24K No change
HUM Humana Inc. 0.02% 57 $21K No change
ECL Ecolab Inc. 0.02% 87 $21K No change
PICK iShares MSCI Global Metals & 0.01% 460 $19K No change
APH Amphenol Corp. Class A 0.01% 246 $17K New
ADP Automatic Data Processing 0.01% 67 $16K No change
CRM Salesforce Inc. 0.01% 62 $16K No change
NKE Nike Inc. Class B 0.01% 190 $14K New
INDA iShares MSCI India ETF 0.01% 251 $14K No change
GLW Corning Inc. 0.01% 345 $13K No change
TLT iShares 20+ Year Treasury BD 0.01% 145 $13K New
URA Global X Uranium ETF 0.01% 435 $13K No change
GILD Gilead Sciences Inc. 0.01% 150 $10K No change
QS Quantumscape Corp. 0.01% 2,000 $10K No change
CNYA iShares MSCI China A ETF 0.01% 387 $10K No change
SOLV Solventum Corp. 0.01% 150 $8K New
XYZ Block Inc. 0.01% 115 $7K No change
NFLX Netflix Inc. 0.00% 7 $5K New
AVGO Broadcom Inc. 0.00% 28 $4K Add +7.7%
BRK.B Berkshire Hathaway Inc. Class B 0.00% 10 $4K No change
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.00% 80 $4K No change
TTE Totalenergies SE -Spon ADR 0.00% 49 $3K Reduce -80.3%

Portfolio Sells Q1 2024 → Q2 2024
VWO Vanguard Ftse Emerging Marke Sold out 0.00% −1.97
IEI iShares 3-7 Year Treasury Bo Sold out 0.00% −1.25
TSM Taiwan Semiconductor-SP ADR Sold out 0.00% −1.11
FEZ State Street SPDR Euro Stoxx Reduce -34.3% 1.54% −0.81
ESGE iShares Inc. iShares ESG Awar Sold out 0.00% −0.67
QAI Nylim HDG MLT-STR TRC ETF-Ui Reduce -20.6% 2.12% −0.42
EEM iShares MSCI Emerging Market Sold out 0.00% −0.33
BNDX Vanguard Total Intl Bond ETF Reduce -41.7% 0.38% −0.25
PSP Invesco Global Listed Privat Reduce -23.5% 0.59% −0.20
NUMG Nuveen ESG Mid-Cap Grow ETF Reduce -10.4% 1.48% −0.20
GIS General Mills Inc. Sold out 0.00% −0.17
URI United Rentals Inc. Sold out 0.00% −0.14
VCSH Vanguard S/T Corp. Bond ETF Reduce -8.5% 2.89% −0.13
VCLT Vanguard Long-Term Corp. Bond Reduce -24.5% 0.37% −0.11
HEWJ Isha Curr Hedged MSCI Japan Reduce -38.0% 0.22% −0.11
EWL iShares MSCI Switzerland ETF Reduce -22.5% 0.48% −0.11
TSCO Tractor Supply Company Sold out 0.00% −0.11
SHY iShares 1-3 Year Treasury Bo Reduce -9.8% 1.68% −0.10
DTE DTE Energy Company Sold out 0.00% −0.09
BLV Vanguard Long-Term Bond ETF Reduce -4.7% 2.57% −0.08
YUMC Yum China Holdings Inc. Sold out 0.00% −0.07
EMB iShares JP Morgan Usd Emergi Reduce -8.5% 1.07% −0.06
EWU iShares MSCI United Kingdom Reduce -19.9% 0.32% −0.05
SJNK SS SPDR BB St Hi Yield ETF Reduce -5.4% 2.12% −0.04
IGIB iShares 5-10Y Inv Grade Corp. Reduce -4.9% 2.99% −0.03
TXN Texas Instruments Inc. Sold out 0.00% −0.03
ADSK Autodesk Inc. Reduce -33.4% 0.05% −0.03
YUM Yum! Brands Inc. Reduce -19.2% 0.10% −0.02
BABA Alibaba Group Holding-SP ADR Sold out 0.00% −0.02
GHYG iShares Us&intl High Yield C Reduce -21.0% 0.09% −0.02
TTE Totalenergies SE -Spon ADR Reduce -80.3% 0.00% −0.01
IEMG iShares Core MSCI Emerging Reduce -31.0% 0.03% −0.01
SPYD SS SPDR P S&P 500 Hi Div ETF Reduce -10.3% 0.08% −0.01
VGIT Vanguard Intermediate-Term T Reduce -4.0% 2.56% −0.00
BKNG Booking Holdings Inc. Reduce -16.7% 0.05% −0.00
VRP Invesco Variable Rate Prefer Reduce -5.6% 0.17% −0.00
BIV Vanguard Intermediate-Term B Reduce -1.6% 0.84% +0.02
PDBC Invesco Optimum Yield Divers Reduce -5.0% 3.38% +0.02
VWOB Vanguard Emerg MKTS Gov BND Reduce -1.7% 3.06% +0.04
CIBR First Trust Nasdaq Cybersecu Reduce -2.0% 3.28% +0.08
SPY SS SPDR S&P 500 ETF Trust-US Reduce -7.3% 17.25% +0.15
MSFT Microsoft Corp. Reduce -0.5% 1.85% +0.18

Portfolio Buys Q1 2024 → Q2 2024
SUSA iShares ESG Optimized MSCI U Add +57.6% 4.22% +1.73
IEF iShares 7-10 Year Treasury B Add +136.3% 2.28% +1.35
IBDT iShares Ibonds Dec 2028 ETF Add +25.0% 2.42% +0.56
IBDU iShares Ibonds Dec 2029 Term Add +14.5% 2.66% +0.43
GLD SPDR Gold Shares Add +0.0% 4.25% +0.36
AMZN Amazon.com Inc. Add +6.9% 1.60% +0.27
FTLS First Trust Long/Short Eqty Add +4.7% 2.48% +0.25
DBMF Imgp Dbi MFT STR ETF-Usd Inc. New 0.22% +0.22
QQQ Invesco QQQ Trust Series 1 Add +0.2% 1.80% +0.21
AAPL Apple Inc. Add +9.2% 0.68% +0.20
VCIT Vanguard Int-Term Corporate Add +18.7% 0.97% +0.18
GOOGL Alphabet Inc. Class A Add +156.1% 0.22% +0.15
QLTA iShares Aaa - A Rated Corpor Add +1.4% 3.01% +0.14
ITA iShares U.S. Aerospace & Def New 0.08% +0.08
MA Mastercard Inc. Class A Add +334.4% 0.09% +0.07
EW Edwards Lifesciences Corp. New 0.07% +0.07
URTH iShares MSCI World ETF Add +37.1% 0.21% +0.07
KO The Coca-Cola Co. Add +75.0% 0.14% +0.06
BAC Bank of America Corp. Add +146.8% 0.10% +0.06
GDX Vaneck Gold Miners ETF Add +119.6% 0.10% +0.06
V Visa Inc. Class A Add +43.4% 0.20% +0.06
MRK Merck & Co. Inc. Add +656.7% 0.06% +0.06
CL Colgate-Palmolive Co. New 0.05% +0.05
OIH Vaneck Oil Services ETF New 0.05% +0.05
HD Home Depot Inc. New 0.05% +0.05
MMM 3M Co. New 0.05% +0.05
UL Unilever PLC New 0.05% +0.05
RMD Resmed Inc. New 0.05% +0.05
MO Altria Group Inc. New 0.05% +0.05
PFE Pfizer Inc. Add +100.0% 0.09% +0.04
PYPL PayPal Holdings Inc. New 0.04% +0.04
T AT&T Inc. New 0.04% +0.04
KWEB Kranesh Csi China Internet New 0.04% +0.04
CVS CVS Health Corp. Add +316.5% 0.06% +0.04
NVDA Nvidia Corp. Add +46.4% 0.08% +0.04
CVX Chevron Corp. New 0.04% +0.04
PEP Pepsico Inc. Add +59.6% 0.09% +0.03
BND Vanguard Total Bond Market Add +9.8% 0.27% +0.03
BWZ State Street SPDR Bloomberg Add +20.9% 0.15% +0.03
WBD Warner Bros Discovery Inc. New 0.03% +0.03
BA The Boeing Co. New 0.03% +0.03
EWJ iShares MSCI Japan ETF New 0.03% +0.03
LLY Eli Lilly & Co. Add +10.1% 0.11% +0.03
WFC Wells Fargo & Co. Add +697.5% 0.03% +0.03
JNJ Johnson & Johnson New 0.02% +0.02
TAN Invesco Solar ETF New 0.02% +0.02
TSLA Tesla Inc. Add +4.3% 0.11% +0.02
LEN Lennar Corp. Class A Add +51.3% 0.07% +0.02
ABT Abbott Laboratories Add +15.5% 0.18% +0.02
APH Amphenol Corp. Class A New 0.01% +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