LFA - Lugano Financial Advisors SA
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 28, 2025), LFA - Lugano Financial Advisors SA reported 191 stock positions worth $147.1 million. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 16.2% of the portfolio, followed by SPDR Gold Shares (GLD, 5.3%) and First Trust Smid Cap Rising (SDVY, 4.4%). Compared with Q4 2024, it opened 15 new positions, sold out of 18, added to 29 and reduced 59. The biggest buy was SS SPDR S&P 500 ETF Trust-US (SPY, shares +7%) and the biggest sale PIMCO Enhcd St M-Active ESG (EMNT, shares −97%).
- Most Recent 13F
- Q2 2026
- Location
- LUGANO, V8
- CIK
- 0001737871
- Portfolio Value
- $147.1M (Q1 2025)
- SEC Filing
- 0001737871-25-000002 ↗ filed Apr 28, 2025
Holdings Value
Holdings 191 stocks · $147.1M
| SPY SS SPDR S&P 500 ETF Trust-US | 16.17% | 42,509 | $23.8M | Add +7.1% |
| GLD SPDR Gold Shares | 5.34% | 27,265 | $7.9M | Reduce -0.4% |
| SDVY First Trust Smid Cap Rising | 4.36% | 191,256 | $6.4M | Add +0.6% |
| SUSB iShares ESG Aware 1-5 Year U | 4.06% | 238,952 | $6.0M | Add +9.8% |
| SUSA iShares ESG Optimized MSCI U | 3.74% | 47,846 | $5.5M | No change |
| IGIB iShares 5-10Y Inv Grade Corp. | 3.17% | 88,818 | $4.7M | Add +7.3% |
| CIBR First Trust Nasdaq Cybersecu | 3.10% | 72,413 | $4.6M | Add +1.4% |
| VWOB Vanguard Emerg MKTS Gov BND | 3.10% | 70,955 | $4.6M | Add +3.3% |
| TLH iShares 10-20 Year Treasury | 2.94% | 41,667 | $4.3M | Add +0.2% |
| VGIT Vanguard Intermediate-Term T | 2.71% | 67,219 | $4.0M | Add +3.3% |
| VCSH Vanguard S/T Corp. Bond ETF | 2.66% | 49,563 | $3.9M | Reduce -1.1% |
| QLTA iShares Aaa - A Rated Corpor | 2.64% | 81,746 | $3.9M | Reduce -1.5% |
| FTLS First Trust Long/Short Eqty | 2.52% | 57,787 | $3.7M | Reduce -7.3% |
| IBDU iShares Ibonds Dec 2029 Term | 2.26% | 143,973 | $3.3M | Reduce -8.7% |
| SJNK SS SPDR BB St Hi Yield ETF | 1.97% | 114,910 | $2.9M | Reduce -1.2% |
| FEZ State Street SPDR Euro Stoxx | 1.92% | 51,809 | $2.8M | Reduce -1.3% |
| QAI Nylim HDG MLT-STR TRC ETF-Ui filed as NEW YORK LIFE INVESTMENTS ET | 1.91% | 89,744 | $2.8M | Reduce -13.5% |
| IEF iShares 7-10 Year Treasury B | 1.87% | 28,863 | $2.8M | Reduce -2.5% |
| SHV iShares 0-1 Year Treasury Bo | 1.69% | 22,442 | $2.5M | Reduce -30.5% |
| MSFT Microsoft Corp. | 1.57% | 6,161 | $2.3M | Add +3.1% |
| AMZN Amazon.com Inc. | 1.56% | 12,038 | $2.3M | Add +2.2% |
| IBDT iShares Ibonds Dec 2028 ETF | 1.51% | 88,071 | $2.2M | Add +4.6% |
| QQQ Invesco QQQ Trust Series 1 | 1.47% | 4,599 | $2.2M | Reduce -6.3% |
| SHY iShares 1-3 Year Treasury Bo | 1.39% | 24,771 | $2.0M | Reduce -1.5% |
| NUMG Nuveen ESG Mid-Cap Grow ETF | 1.36% | 46,520 | $2.0M | No change |
| VCIT Vanguard Int-Term Corporate | 1.21% | 21,809 | $1.8M | Add +42.2% |
| SUSC iShares ESG Aware Usd Corpor | 1.16% | 74,278 | $1.7M | No change |
| EFA iShares MSCI Eafe ETF | 1.09% | 19,578 | $1.6M | Reduce -9.0% |
| PDBC Invesco Optimum Yield Divers | 1.01% | 109,285 | $1.5M | Reduce -65.4% |
| IBDV iShares Ibonds Dec 2030 Corp. | 0.84% | 56,773 | $1.2M | Add +176.5% |
| CWB SS SPDR BB Conv Sec ETF | 0.73% | 13,981 | $1.1M | No change |
| EMB iShares JP Morgan Usd Emergi | 0.72% | 11,768 | $1.1M | Reduce -5.6% |
| EWL iShares MSCI Switzerland ETF | 0.68% | 19,246 | $997K | Add +9.3% |
| RNRG Global X Renewable Ener Prod | 0.67% | 119,626 | $982K | No change |
| AAPL Apple Inc. | 0.64% | 4,215 | $936K | Reduce -7.1% |
| PSP Invesco Global Listed Privat | 0.60% | 13,752 | $881K | Reduce -3.3% |
| VGT Vanguard Info Tech ETF | 0.50% | 1,350 | $732K | No change |
| VHT Vanguard Health Care ETF | 0.46% | 2,550 | $675K | No change |
| VCLT Vanguard Long-Term Corp. Bond | 0.39% | 7,574 | $575K | Add +17.6% |
| EWU iShares MSCI United Kingdom | 0.35% | 13,769 | $516K | Add +7.8% |
| GOOG Alphabet Inc. Class C | 0.32% | 2,980 | $466K | No change |
| PIO Invesco Global Water ETF | 0.31% | 11,497 | $461K | No change |
| XLI SS Industrial Select Sector | 0.31% | 3,500 | $459K | No change |
| FPEI First Trust Institutional PR | 0.31% | 24,000 | $449K | No change |
| BIV Vanguard Intermediate-Term B | 0.28% | 5,406 | $414K | Reduce -1.2% |
| CAT Caterpillar Inc. | 0.28% | 1,250 | $412K | No change |
| XLE SS Energy Select Sector | 0.26% | 4,018 | $375K | No change |
| XLF SS Financial Select Sector | 0.25% | 7,300 | $364K | No change |
| V Visa Inc. Class A | 0.24% | 990 | $347K | Add +10.0% |
| ABT Abbott Laboratories | 0.23% | 2,525 | $335K | Add +7.6% |
| KKR KKR & Co. Inc. | 0.22% | 2,850 | $329K | No change |
| XLP SS Consumer Staples Sel Sect | 0.22% | 4,000 | $327K | No change |
| RSP Invesco S&P 500 Equal Weight | 0.22% | 1,878 | $325K | Add +42.0% |
| JPM JPMorgan Chase & Co. | 0.22% | 1,300 | $319K | Reduce -12.8% |
| HEWJ Isha Curr Hedged MSCI Japan | 0.21% | 7,352 | $308K | Add +10.9% |
| DBMF Imgp Dbi MFT STR ETF-Usd Inc. | 0.20% | 11,620 | $294K | Add +21.0% |
| BGRN iShares Usd Green Bond ETF | 0.19% | 5,959 | $282K | No change |
| BX Blackstone Inc. | 0.19% | 2,000 | $280K | No change |
| IVE iShares S&P 500 Value ETF | 0.18% | 1,400 | $267K | No change |
| ABBV Abbvie Inc. | 0.18% | 1,240 | $260K | Add +3.3% |
| GOOGL Alphabet Inc. Class A | 0.18% | 1,669 | $258K | Reduce -13.3% |
| XLY SS Consumer Disc Select Sect | 0.17% | 1,300 | $257K | No change |
| KO The Coca-Cola Co. | 0.17% | 3,480 | $249K | Add +12.3% |
| GDX Vaneck Gold Miners ETF | 0.17% | 5,332 | $245K | Reduce -50.9% |
| ITA iShares U.S. Aerospace & Def | 0.15% | 1,437 | $220K | No change |
| DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE | 0.14% | 500 | $210K | No change |
| BWZ State Street SPDR Bloomberg | 0.14% | 7,987 | $210K | Add +9.9% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.14% | 800 | $207K | No change |
| VYM Vanguard High DVD Yield ETF | 0.14% | 1,555 | $201K | No change |
| EMXC iShares MSCI Emr MRK Ex Chna | 0.13% | 3,547 | $195K | No change |
| BND Vanguard Total Bond Market | 0.13% | 2,622 | $193K | Reduce -49.2% |
| BKNG Booking Holdings Inc. | 0.13% | 40 | $184K | Add +5.3% |
| HON Honeywell International Inc. | 0.12% | 832 | $176K | No change |
| ED Consolidated Edison Inc. | 0.12% | 1,580 | $175K | No change |
| GHYG iShares Us&intl High Yield C | 0.12% | 3,847 | $171K | Add +67.0% |
| XLK SS Technology Select Sector | 0.11% | 813 | $168K | No change |
| ZTS Zoetis Inc. | 0.11% | 1,000 | $165K | Reduce -4.8% |
| MA Mastercard Inc. Class A | 0.11% | 297 | $163K | Reduce -25.8% |
| EA Electronic Arts Inc. | 0.11% | 1,125 | $163K | Reduce -3.7% |
| RMD Resmed Inc. | 0.11% | 717 | $161K | Reduce -4.4% |
| MCD McDonald's Corp. | 0.11% | 500 | $156K | No change |
| MDLZ Mondelez International Inc. Class A | 0.11% | 2,300 | $156K | No change |
| IBB iShares Biotechnology ETF | 0.10% | 1,200 | $153K | No change |
| YUM Yum! Brands Inc. | 0.10% | 970 | $153K | No change |
| IXJ iShares Global Healthcare Et | 0.10% | 1,660 | $151K | No change |
| FTSL First Trust Senior Loan ETF | 0.10% | 3,270 | $149K | No change |
| BNDX Vanguard Total Intl Bond ETF | 0.10% | 3,053 | $149K | No change |
| IVV iShares Core S&P 500 ETF | 0.10% | 257 | $144K | No change |
| EBND State Street SPDR Bloomberg | 0.10% | 7,185 | $144K | No change |
| META Meta Platforms Inc. Class A | 0.10% | 245 | $141K | Reduce -30.8% |
| AZN Astrazeneca PLC-Spons ADR | 0.09% | 1,900 | $140K | No change |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.09% | 3,212 | $134K | Reduce -13.1% |
| SDG Ish MSCI Glob Sust Deve Goal | 0.09% | 1,810 | $131K | Add +44.8% |
| IAGG iShares Intl Aggregate Bond | 0.09% | 2,550 | $127K | No change |
| LLY Eli Lilly & Co. | 0.09% | 154 | $127K | Reduce -10.5% |
| MO Altria Group Inc. | 0.09% | 2,100 | $126K | No change |
| QCOM Qualcomm Inc. | 0.08% | 810 | $124K | Reduce -18.8% |
| IEFA iShares Core MSCI Eafe ETF | 0.08% | 1,628 | $123K | No change |
| GBTC Grayscale Bitcoin Trust ETF | 0.08% | 1,835 | $120K | No change |
| MMM 3M Co. | 0.08% | 800 | $117K | No change |
Portfolio Sells Q4 2024 → Q1 2025
| EMNT PIMCO Enhcd St M-Active ESG | Reduce -96.6% | 0.06% | −1.78 |
| PDBC Invesco Optimum Yield Divers | Reduce -65.4% | 1.01% | −1.67 |
| SHV iShares 0-1 Year Treasury Bo | Reduce -30.5% | 1.69% | −0.64 |
| QAI Nylim HDG MLT-STR TRC ETF-Ui | Reduce -13.5% | 1.91% | −0.22 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -6.3% | 1.47% | −0.17 |
| FTLS First Trust Long/Short Eqty | Reduce -7.3% | 2.52% | −0.16 |
| BND Vanguard Total Bond Market | Reduce -49.2% | 0.13% | −0.11 |
| AAPL Apple Inc. | Reduce -7.1% | 0.64% | −0.11 |
| IBDU iShares Ibonds Dec 2029 Term | Reduce -8.7% | 2.26% | −0.09 |
| GDX Vaneck Gold Miners ETF | Reduce -50.9% | 0.17% | −0.07 |
| VT Vanguard Tot World STK ETF | Sold out | 0.00% | −0.07 |
| TSLA Tesla Inc. | Reduce -22.1% | 0.07% | −0.07 |
| GOOGL Alphabet Inc. Class A | Reduce -13.3% | 0.18% | −0.06 |
| BKLN Invesco Senior Loan ETF | Reduce -62.7% | 0.03% | −0.05 |
| IXN iShares Global Tech ETF | Sold out | 0.00% | −0.05 |
| HD Home Depot Inc. | Sold out | 0.00% | −0.05 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Reduce -78.5% | 0.01% | −0.04 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -53.6% | 0.04% | −0.04 |
| AVGO Broadcom Inc. | Reduce -39.6% | 0.03% | −0.04 |
| CL Colgate-Palmolive Co. | Sold out | 0.00% | −0.04 |
| DD Dupont DE Nemours Inc. | Sold out | 0.00% | −0.04 |
| META Meta Platforms Inc. Class A | Reduce -30.8% | 0.10% | −0.04 |
| XOM Exxon Mobil Corp. | Reduce -56.5% | 0.04% | −0.04 |
| SPYD SS SPDR P S&P 500 Hi Div ETF | Reduce -62.8% | 0.02% | −0.03 |
| PFE Pfizer Inc. | Reduce -66.7% | 0.02% | −0.03 |
| CMCSA Comcast Corp. Class A | Sold out | 0.00% | −0.03 |
| NVDA Nvidia Corp. | Reduce -18.6% | 0.07% | −0.03 |
| DEO Diageo PLC-Sponsored ADR | Sold out | 0.00% | −0.03 |
| CVX Chevron Corp. | Reduce -68.8% | 0.02% | −0.03 |
| MA Mastercard Inc. Class A | Reduce -25.8% | 0.11% | −0.03 |
| DOW Dow Inc. | Sold out | 0.00% | −0.03 |
| URNM Sprott Uranium Miners ETF | Sold out | 0.00% | −0.02 |
| APH Amphenol Corp. Class A | Reduce -70.0% | 0.01% | −0.02 |
| AEP American Electric Power | Reduce -42.9% | 0.06% | −0.02 |
| PSP Invesco Global Listed Privat | Reduce -3.3% | 0.60% | −0.02 |
| WFC Wells Fargo & Co. | Reduce -55.6% | 0.02% | −0.02 |
| XLV SS Health Care Select Sector | Sold out | 0.00% | −0.02 |
| FTNT Fortinet Inc. | Reduce -55.8% | 0.02% | −0.02 |
| UNH Unitedhealth Group Inc. | Sold out | 0.00% | −0.02 |
| IWM iShares Russell 2000 ETF | Reduce -49.8% | 0.02% | −0.02 |
| AJG Arthur J Gallagher & Co. | Reduce -37.4% | 0.07% | −0.02 |
| PEP Pepsico Inc. | Reduce -34.4% | 0.04% | −0.02 |
| JPM JPMorgan Chase & Co. | Reduce -12.8% | 0.22% | −0.02 |
| LEN Lennar Corp. Class A | Reduce -34.1% | 0.02% | −0.02 |
| QCOM Qualcomm Inc. | Reduce -18.8% | 0.08% | −0.02 |
| BAC Bank of America Corp. | Reduce -13.1% | 0.09% | −0.02 |
| WBD Warner Bros Discovery Inc. | Sold out | 0.00% | −0.01 |
| VZ Verizon Communications Inc. | Reduce -30.8% | 0.06% | −0.01 |
| ADP Automatic Data Processing | Sold out | 0.00% | −0.01 |
| ADSK Autodesk Inc. | Reduce -8.4% | 0.07% | −0.01 |
Portfolio Buys Q4 2024 → Q1 2025
| SPY SS SPDR S&P 500 ETF Trust-US | Add +7.1% | 16.17% | +0.95 |
| IBDV iShares Ibonds Dec 2030 Corp. | Add +176.5% | 0.84% | +0.55 |
| SUSB iShares ESG Aware 1-5 Year U | Add +9.8% | 4.06% | +0.54 |
| VCIT Vanguard Int-Term Corporate | Add +42.2% | 1.21% | +0.41 |
| IGIB iShares 5-10Y Inv Grade Corp. | Add +7.3% | 3.17% | +0.38 |
| VWOB Vanguard Emerg MKTS Gov BND | Add +3.3% | 3.10% | +0.26 |
| VGIT Vanguard Intermediate-Term T | Add +3.3% | 2.71% | +0.25 |
| TLH iShares 10-20 Year Treasury | Add +0.2% | 2.94% | +0.23 |
| EWL iShares MSCI Switzerland ETF | Add +9.3% | 0.68% | +0.15 |
| IBDT iShares Ibonds Dec 2028 ETF | Add +4.6% | 1.51% | +0.14 |
| CIBR First Trust Nasdaq Cybersecu | Add +1.4% | 3.10% | +0.14 |
| VCLT Vanguard Long-Term Corp. Bond | Add +17.6% | 0.39% | +0.08 |
| RSP Invesco S&P 500 Equal Weight | Add +42.0% | 0.22% | +0.07 |
| EWU iShares MSCI United Kingdom | Add +7.8% | 0.35% | +0.07 |
| PGX Invesco Preferred ETF | Add +382.5% | 0.07% | +0.06 |
| ABT Abbott Laboratories | Add +7.6% | 0.23% | +0.05 |
| CI The Cigna Group | New | 0.05% | +0.05 |
| GHYG iShares Us&intl High Yield C | Add +67.0% | 0.12% | +0.05 |
| V Visa Inc. Class A | Add +10.0% | 0.24% | +0.05 |
| PM Philip Morris International | New | 0.05% | +0.05 |
| KO The Coca-Cola Co. | Add +12.3% | 0.17% | +0.04 |
| ABBV Abbvie Inc. | Add +3.3% | 0.18% | +0.04 |
| DBMF Imgp Dbi MFT STR ETF-Usd Inc. | Add +21.0% | 0.20% | +0.04 |
| SDG Ish MSCI Glob Sust Deve Goal | Add +44.8% | 0.09% | +0.03 |
| HEWJ Isha Curr Hedged MSCI Japan | Add +10.9% | 0.21% | +0.02 |
| BABA Alibaba Group Holding-SP ADR | New | 0.02% | +0.02 |
| BWZ State Street SPDR Bloomberg | Add +9.9% | 0.14% | +0.02 |
| X United States Steel Corp. | New | 0.02% | +0.02 |
| HBAN Huntington Bancshares Inc. | New | 0.02% | +0.02 |
| INTC Intel Corp. | New | 0.02% | +0.02 |
| ISRG Intuitive Surgical Inc. | New | 0.02% | +0.02 |
| CRM Salesforce Inc. | Add +177.4% | 0.03% | +0.02 |
| IBIT iShares Bitcoin Trust ETF | New | 0.01% | +0.01 |
| ADI Analog Devices Inc. | New | 0.01% | +0.01 |
| AMD Advanced Micro Devices | New | 0.01% | +0.01 |
| NVO Novo-Nordisk A/S-Spons ADR | New | 0.01% | +0.01 |
| MCK McKesson Corp. | New | 0.01% | +0.01 |
| VEEV Veeva Systems Inc. Class A | New | 0.01% | +0.01 |
| HSY The Hershey Co. | New | 0.01% | +0.01 |
| REGN Regeneron Pharmaceuticals | New | 0.01% | +0.01 |
| BKNG Booking Holdings Inc. | Add +5.3% | 0.13% | +0.00 |
| MSFT Microsoft Corp. | Add +3.1% | 1.57% | −0.07 |
| SDVY First Trust Smid Cap Rising | Add +0.6% | 4.36% | −0.10 |
| AMZN Amazon.com Inc. | Add +2.2% | 1.56% | −0.13 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 274 | $166.2M | SPY, FNDE, GLD, IGIB, VCSH |
| Q1 2026 | 223 | $196.6M | SPY, ESGD, GLD, FNDE, SUSB |
| Q4 2025 | 235 | $193.7M | SPY, ESGD, GLD, SUSB, FNDE |
| Q3 2025 | 229 | $189.7M | SPY, ESGD, SUSB, GLD, FNDE |
| Q2 2025 | 245 | $168.8M | SPY, ESGD, SUSB, GLD, IGIB |
| Q1 2025 | 191 | $147.1M | SPY, GLD, SDVY, SUSB, SUSA |
| Q4 2024 | 193 | $153.0M | SPY, SDVY, GLD, SUSA, SUSB |
| Q3 2024 | 183 | $147.1M | SPY, GLD, SUSB, SUSA, CIBR |
| Q2 2024 | 172 | $131.3M | SPY, GLD, SUSA, SUSB, PDBC |
| Q1 2024 | 160 | $137.4M | SPY, SUSB, GLD, PDBC, CIBR |