LFA - Lugano Financial Advisors SA
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 7, 2025), LFA - Lugano Financial Advisors SA reported 245 stock positions worth $168.8 million. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 14.6% of the portfolio, followed by iShares Trust iShares ESG Aw (ESGD, 12.1%) and iShares ESG Aware 1-5 Year U (SUSB, 6.8%). Compared with Q1 2025, it opened 72 new positions, sold out of 18, added to 54 and reduced 22. The biggest buy was a new position in iShares Trust iShares ESG Aw (ESGD) and the biggest sale iShares ESG Optimized MSCI U (SUSA, shares −97%).
- Most Recent 13F
- Q2 2026
- Location
- LUGANO, V8
- CIK
- 0001737871
- Portfolio Value
- $168.8M (Q2 2025)
- SEC Filing
- 0001737871-25-000004 ↗ filed Aug 7, 2025
Holdings Value
Holdings 245 stocks · $168.8M
| SPY SS SPDR S&P 500 ETF Trust-US | 14.57% | 39,806 | $24.6M | Reduce -6.4% |
| ESGD iShares Trust iShares ESG Aw | 12.14% | 229,552 | $20.5M | New |
| SUSB iShares ESG Aware 1-5 Year U | 6.77% | 457,113 | $11.4M | Add +91.3% |
| GLD SPDR Gold Shares | 5.20% | 28,797 | $8.8M | Add +5.6% |
| IGIB iShares 5-10Y Inv Grade Corp. | 2.76% | 88,195 | $4.7M | Reduce -0.7% |
| SDVY First Trust Smid Cap Rising | 2.65% | 126,939 | $4.5M | Reduce -33.6% |
| VWOB Vanguard Emerg MKTS Gov BND | 2.61% | 68,057 | $4.4M | Reduce -4.1% |
| FTLS First Trust Long/Short Eqty | 2.52% | 64,285 | $4.3M | Add +11.2% |
| TLH iShares 10-20 Year Treasury | 2.43% | 40,677 | $4.1M | Reduce -2.4% |
| IBND SS SPDR BB Intl Corp. BD ETF | 2.39% | 124,430 | $4.0M | New |
| VCSH Vanguard S/T Corp. Bond ETF | 2.24% | 48,006 | $3.8M | Reduce -3.1% |
| IBDU iShares Ibonds Dec 2029 Term | 2.14% | 156,301 | $3.6M | Add +8.6% |
| QAI Nylim HDG MLT-STR TRC ETF-Ui filed as NEW YORK LIFE INVESTMENTS ET | 1.98% | 103,139 | $3.3M | Add +14.9% |
| MSFT Microsoft Corp. | 1.91% | 6,471 | $3.2M | Add +5.0% |
| VGIT Vanguard Intermediate-Term T | 1.90% | 54,004 | $3.2M | Reduce -19.7% |
| FEZ State Street SPDR Euro Stoxx | 1.90% | 53,598 | $3.2M | Add +3.5% |
| SJNK SS SPDR BB St Hi Yield ETF | 1.70% | 113,950 | $2.9M | Reduce -0.8% |
| IEF iShares 7-10 Year Treasury B | 1.63% | 28,863 | $2.7M | No change |
| CIBR First Trust Nasdaq Cybersecu | 1.62% | 36,186 | $2.7M | Reduce -50.0% |
| SHV iShares 0-1 Year Treasury Bo | 1.62% | 24,893 | $2.7M | Add +10.9% |
| AMZN Amazon.com Inc. | 1.56% | 12,028 | $2.6M | Reduce -0.1% |
| IBDT iShares Ibonds Dec 2028 ETF | 1.37% | 91,368 | $2.3M | Add +3.7% |
| SHY iShares 1-3 Year Treasury Bo | 1.14% | 23,366 | $1.9M | Reduce -5.7% |
| QLTA iShares Aaa - A Rated Corpor | 1.11% | 39,595 | $1.9M | Reduce -51.6% |
| EFA iShares MSCI Eafe ETF | 1.02% | 19,219 | $1.7M | Reduce -1.8% |
| EWL iShares MSCI Switzerland ETF | 0.88% | 26,962 | $1.5M | Add +40.1% |
| PDBC Invesco Optimum Yield Divers | 0.83% | 107,096 | $1.4M | Reduce -2.0% |
| GDX Vaneck Gold Miners ETF | 0.81% | 26,352 | $1.4M | Add +394.2% |
| IBDV iShares Ibonds Dec 2030 Corp. | 0.80% | 61,573 | $1.3M | Add +8.4% |
| PSP Invesco Global Listed Privat | 0.72% | 17,575 | $1.2M | Add +27.8% |
| CWB SS SPDR BB Conv Sec ETF | 0.68% | 13,981 | $1.2M | No change |
| EMB iShares JP Morgan Usd Emergi | 0.64% | 11,734 | $1.1M | Reduce -0.3% |
| AAPL Apple Inc. | 0.58% | 4,762 | $977K | Add +13.0% |
| RNRG Global X Renewable Ener Prod | 0.55% | 94,512 | $925K | Reduce -21.0% |
| VGT Vanguard Info Tech ETF | 0.53% | 1,350 | $895K | No change |
| SCHF Schwab Intl Equity ETF | 0.41% | 31,104 | $687K | New |
| VHT Vanguard Health Care ETF | 0.38% | 2,550 | $633K | No change |
| GOOG Alphabet Inc. Class C | 0.36% | 3,447 | $611K | Add +15.7% |
| EWU iShares MSCI United Kingdom | 0.32% | 13,769 | $547K | No change |
| VCLT Vanguard Long-Term Corp. Bond | 0.32% | 7,266 | $546K | Reduce -4.1% |
| NVDA Nvidia Corp. | 0.31% | 3,346 | $529K | Add +231.3% |
| XLI SS Industrial Select Sector | 0.31% | 3,500 | $516K | No change |
| PIO Invesco Global Water ETF | 0.30% | 11,497 | $514K | No change |
| CAT Caterpillar Inc. | 0.29% | 1,250 | $483K | No change |
| JPM JPMorgan Chase & Co. | 0.27% | 1,584 | $457K | Add +21.9% |
| FPEI First Trust Institutional PR | 0.27% | 24,000 | $454K | No change |
| BIV Vanguard Intermediate-Term B | 0.25% | 5,406 | $415K | No change |
| GOOGL Alphabet Inc. Class A | 0.24% | 2,332 | $411K | Add +39.7% |
| V Visa Inc. Class A | 0.23% | 1,091 | $387K | Add +10.2% |
| XLF SS Financial Select Sector | 0.23% | 7,300 | $382K | No change |
| KKR KKR & Co. Inc. | 0.22% | 2,850 | $379K | No change |
| ABT Abbott Laboratories | 0.22% | 2,707 | $367K | Add +7.2% |
| META Meta Platforms Inc. Class A | 0.21% | 473 | $349K | Add +93.1% |
| RSP Invesco S&P 500 Equal Weight | 0.20% | 1,878 | $341K | No change |
| XLE SS Energy Select Sector | 0.20% | 4,018 | $341K | No change |
| XLP SS Consumer Staples Sel Sect | 0.19% | 4,000 | $324K | No change |
| HEWJ Isha Curr Hedged MSCI Japan | 0.18% | 6,868 | $305K | Reduce -6.6% |
| DBMF Imgp Dbi MFT STR ETF-Usd Inc. | 0.18% | 11,620 | $299K | No change |
| BX Blackstone Inc. | 0.18% | 2,000 | $297K | No change |
| XLY SS Consumer Disc Select Sect | 0.17% | 1,300 | $283K | No change |
| VWO Vanguard Ftse Emerging Marke | 0.16% | 5,621 | $278K | New |
| IVE iShares S&P 500 Value ETF | 0.16% | 1,400 | $274K | No change |
| BKNG Booking Holdings Inc. | 0.16% | 47 | $272K | Add +17.5% |
| ITA iShares U.S. Aerospace & Def | 0.16% | 1,437 | $271K | No change |
| KO The Coca-Cola Co. | 0.15% | 3,622 | $256K | Add +4.1% |
| EA Electronic Arts Inc. | 0.15% | 1,542 | $246K | Add +37.1% |
| ABBV Abbvie Inc. | 0.14% | 1,240 | $228K | No change |
| EMXC iShares MSCI Emr MRK Ex Chna | 0.13% | 3,547 | $224K | No change |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.13% | 800 | $224K | No change |
| BWZ State Street SPDR Bloomberg | 0.13% | 7,987 | $223K | No change |
| RMD Resmed Inc. | 0.13% | 854 | $220K | Add +19.1% |
| DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE | 0.13% | 500 | $220K | No change |
| HON Honeywell International Inc. | 0.13% | 932 | $217K | Add +12.0% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.12% | 4,426 | $209K | Add +37.8% |
| VYM Vanguard High DVD Yield ETF | 0.12% | 1,555 | $207K | No change |
| XLK SS Technology Select Sector | 0.12% | 813 | $206K | No change |
| MA Mastercard Inc. Class A | 0.12% | 364 | $204K | Add +22.6% |
| IWM iShares Russell 2000 ETF | 0.12% | 918 | $198K | Add +646.3% |
| BND Vanguard Total Bond Market | 0.11% | 2,622 | $192K | No change |
| GHYG iShares Us&intl High Yield C | 0.10% | 3,847 | $176K | No change |
| BSV Vanguard Short-Term Bond ETF | 0.10% | 2,246 | $176K | New |
| SUSA iShares ESG Optimized MSCI U | 0.10% | 1,343 | $170K | Reduce -97.2% |
| ZTS Zoetis Inc. | 0.09% | 1,027 | $160K | Add +2.7% |
| IVV iShares Core S&P 500 ETF | 0.09% | 257 | $160K | No change |
| GBTC Grayscale Bitcoin Trust ETF | 0.09% | 1,835 | $156K | No change |
| MDLZ Mondelez International Inc. Class A | 0.09% | 2,300 | $155K | No change |
| AVGO Broadcom Inc. | 0.09% | 556 | $153K | Add +82.3% |
| EBND State Street SPDR Bloomberg | 0.09% | 7,185 | $152K | No change |
| IBB iShares Biotechnology ETF | 0.09% | 1,200 | $152K | No change |
| TSLA Tesla Inc. | 0.09% | 476 | $151K | Add +18.7% |
| BNDX Vanguard Total Intl Bond ETF | 0.09% | 3,053 | $151K | No change |
| FTSL First Trust Senior Loan ETF | 0.09% | 3,270 | $149K | No change |
| VNQ Vanguard Real Estate ETF | 0.09% | 1,669 | $149K | New |
| MCD McDonald's Corp. | 0.09% | 500 | $146K | No change |
| YUM Yum! Brands Inc. | 0.09% | 970 | $144K | No change |
| SCHP Schwab U.S. Tips ETF | 0.08% | 5,398 | $143K | New |
| SDG Ish MSCI Glob Sust Deve Goal | 0.08% | 1,810 | $137K | No change |
| AEP American Electric Power | 0.08% | 1,322 | $137K | Add +77.0% |
| IEFA iShares Core MSCI Eafe ETF | 0.08% | 1,628 | $136K | No change |
| AZN Astrazeneca PLC-Spons ADR | 0.08% | 1,900 | $133K | No change |
Portfolio Sells Q1 2025 → Q2 2025
| SUSA iShares ESG Optimized MSCI U | Reduce -97.2% | 0.10% | −3.64 |
| SDVY First Trust Smid Cap Rising | Reduce -33.6% | 2.65% | −1.70 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -6.4% | 14.57% | −1.59 |
| QLTA iShares Aaa - A Rated Corpor | Reduce -51.6% | 1.11% | −1.53 |
| CIBR First Trust Nasdaq Cybersecu | Reduce -50.0% | 1.62% | −1.48 |
| QQQ Invesco QQQ Trust Series 1 | Sold out | 0.00% | −1.47 |
| NUMG Nuveen ESG Mid-Cap Grow ETF | Sold out | 0.00% | −1.36 |
| VCIT Vanguard Int-Term Corporate | Sold out | 0.00% | −1.21 |
| SUSC iShares ESG Aware Usd Corpor | Sold out | 0.00% | −1.16 |
| VGIT Vanguard Intermediate-Term T | Reduce -19.7% | 1.90% | −0.81 |
| TLH iShares 10-20 Year Treasury | Reduce -2.4% | 2.43% | −0.51 |
| VWOB Vanguard Emerg MKTS Gov BND | Reduce -4.1% | 2.61% | −0.49 |
| VCSH Vanguard S/T Corp. Bond ETF | Reduce -3.1% | 2.24% | −0.42 |
| IGIB iShares 5-10Y Inv Grade Corp. | Reduce -0.7% | 2.76% | −0.41 |
| SJNK SS SPDR BB St Hi Yield ETF | Reduce -0.8% | 1.70% | −0.27 |
| SHY iShares 1-3 Year Treasury Bo | Reduce -5.7% | 1.14% | −0.25 |
| BGRN iShares Usd Green Bond ETF | Sold out | 0.00% | −0.19 |
| PDBC Invesco Optimum Yield Divers | Reduce -2.0% | 0.83% | −0.19 |
| RNRG Global X Renewable Ener Prod | Reduce -21.0% | 0.55% | −0.12 |
| ED Consolidated Edison Inc. | Sold out | 0.00% | −0.12 |
| IXJ iShares Global Healthcare Et | Sold out | 0.00% | −0.10 |
| IAGG iShares Intl Aggregate Bond | Sold out | 0.00% | −0.09 |
| EMB iShares JP Morgan Usd Emergi | Reduce -0.3% | 0.64% | −0.09 |
| EFA iShares MSCI Eafe ETF | Reduce -1.8% | 1.02% | −0.07 |
| VCLT Vanguard Long-Term Corp. Bond | Reduce -4.1% | 0.32% | −0.07 |
| EMNT PIMCO Enhcd St M-Active ESG | Sold out | 0.00% | −0.06 |
| PBW Invesco Wilderhill Clean Ene | Sold out | 0.00% | −0.05 |
| ISHG iShares -3 Year Internationa | Sold out | 0.00% | −0.05 |
| PFF iShares Preferred & Income S | Reduce -75.8% | 0.01% | −0.04 |
| BKLN Invesco Senior Loan ETF | Sold out | 0.00% | −0.03 |
| HEWJ Isha Curr Hedged MSCI Japan | Reduce -6.6% | 0.18% | −0.03 |
| SPYD SS SPDR P S&P 500 Hi Div ETF | Sold out | 0.00% | −0.02 |
| X United States Steel Corp. | Sold out | 0.00% | −0.02 |
| HACK Amplify Cybersecurity ETF | Sold out | 0.00% | −0.02 |
| SHYG iShares 0-5 YR HY Corp. Bond | Reduce -25.7% | 0.03% | −0.01 |
| ROBO Robo Global Robotics and Aut | Sold out | 0.00% | −0.01 |
| NEE Nextera Energy Inc. | Sold out | 0.00% | −0.00 |
| REGN Regeneron Pharmaceuticals | Reduce -33.3% | 0.00% | −0.00 |
| MRP Millrose Properties | Sold out | 0.00% | −0.00 |
| AMZN Amazon.com Inc. | Reduce -0.1% | 1.56% | +0.01 |
Portfolio Buys Q1 2025 → Q2 2025
| ESGD iShares Trust iShares ESG Aw | New | 12.14% | +12.14 |
| SUSB iShares ESG Aware 1-5 Year U | Add +91.3% | 6.77% | +2.71 |
| IBND SS SPDR BB Intl Corp. BD ETF | New | 2.39% | +2.39 |
| GDX Vaneck Gold Miners ETF | Add +394.2% | 0.81% | +0.65 |
| SCHF Schwab Intl Equity ETF | New | 0.41% | +0.41 |
| MSFT Microsoft Corp. | Add +5.0% | 1.91% | +0.33 |
| NVDA Nvidia Corp. | Add +231.3% | 0.31% | +0.24 |
| EWL iShares MSCI Switzerland ETF | Add +40.1% | 0.88% | +0.20 |
| VWO Vanguard Ftse Emerging Marke | New | 0.16% | +0.16 |
| PSP Invesco Global Listed Privat | Add +27.8% | 0.72% | +0.12 |
| META Meta Platforms Inc. Class A | Add +93.1% | 0.21% | +0.11 |
| BSV Vanguard Short-Term Bond ETF | New | 0.10% | +0.10 |
| IWM iShares Russell 2000 ETF | Add +646.3% | 0.12% | +0.10 |
| VNQ Vanguard Real Estate ETF | New | 0.09% | +0.09 |
| SCHP Schwab U.S. Tips ETF | New | 0.08% | +0.08 |
| IAU iShares Gold Trust | New | 0.08% | +0.08 |
| GOOGL Alphabet Inc. Class A | Add +39.7% | 0.24% | +0.07 |
| QAI Nylim HDG MLT-STR TRC ETF-Ui | Add +14.9% | 1.98% | +0.06 |
| VEU Vanguard Ftse All-World Ex-U | New | 0.06% | +0.06 |
| USIG iShares Broad Usd Investment | New | 0.06% | +0.06 |
| AVGO Broadcom Inc. | Add +82.3% | 0.09% | +0.06 |
| JPM JPMorgan Chase & Co. | Add +21.9% | 0.27% | +0.05 |
| GOOG Alphabet Inc. Class C | Add +15.7% | 0.36% | +0.05 |
| ITOT iShares Core S&P Total U.S. | New | 0.04% | +0.04 |
| WMT Walmart Inc. | New | 0.04% | +0.04 |
| BKNG Booking Holdings Inc. | Add +17.5% | 0.16% | +0.04 |
| EA Electronic Arts Inc. | Add +37.1% | 0.15% | +0.04 |
| BAC Bank of America Corp. | Add +37.8% | 0.12% | +0.03 |
| GS Goldman Sachs Group Inc. | New | 0.03% | +0.03 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +990.0% | 0.03% | +0.03 |
| NFLX Netflix Inc. | Add +213.3% | 0.04% | +0.03 |
| AEP American Electric Power | Add +77.0% | 0.08% | +0.03 |
| CRM Salesforce Inc. | Add +91.9% | 0.05% | +0.02 |
| BKR Baker Hughes Co. | New | 0.02% | +0.02 |
| RMD Resmed Inc. | Add +19.1% | 0.13% | +0.02 |
| HD Home Depot Inc. | New | 0.02% | +0.02 |
| IBKR Interactive Brokers Gro Class A | New | 0.02% | +0.02 |
| TSLA Tesla Inc. | Add +18.7% | 0.09% | +0.02 |
| COST Costco Wholesale Corp. | New | 0.02% | +0.02 |
| RTX RTX Corp. | New | 0.02% | +0.02 |
| IXUS iShares Core Intl Stock ETF | New | 0.02% | +0.02 |
| FUTU Futu Holdings Ltd.-ADR | New | 0.02% | +0.02 |
| ISRG Intuitive Surgical Inc. | Add +90.0% | 0.04% | +0.02 |
| PLTR Palantir Technologies Inc. Class A | New | 0.02% | +0.02 |
| APP AppLovin Corp. Class A | New | 0.02% | +0.02 |
| PEP Pepsico Inc. | Add +85.1% | 0.05% | +0.02 |
| KMI Kinder Morgan Inc. | New | 0.02% | +0.02 |
| UNH Unitedhealth Group Inc. | New | 0.01% | +0.01 |
| ORCL Oracle Corp. | New | 0.01% | +0.01 |
| JNJ Johnson & Johnson | New | 0.01% | +0.01 |
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 |