Institutional Manager · CIK 0001723681

Affiance Financial, LLC

ST. LOUIS PARK, MN · File #028-18187

Latest AUM

$621.8M

Positions

105

Top-10 Concentration

76.7%

Filings

Portfolio Value Over Time

2024-03

2024-06

2024-09

2024-12

2025-03

2025-06

2025-09

2025-12

Biggest QoQ Changes

Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.

Action	Issuer	Ticker / CUSIP	Δ Shares	Flow ($)	Price Effect
NEW	PROFESIONALLY MANAGED PORTFO	74316P579	+656,658	+$43.0M	$0
ADD	ISHARES TR	464287226	+73,060	+$7.3M	-$305,173
ADD	VANGUARD INDEX FDS	922908769	+14,019	+$4.7M	+$1.4M
ADD	ISHARES TR	464287614	+5,856	+$2.8M	+$212,343
ADD	ISHARES TR	46432F842	+26,473	+$2.4M	+$614,866
REDUCE	CAPITAL GROUP CORE EQUITY ET	14020V108	-55,778	-$2.2M	+$100,289
ADD	VANGUARD INDEX FDS	922908744	+9,925	+$1.9M	+$356,388
ADD	PIMCO ETF TR	72201R775	+18,036	+$1.7M	-$14,460
REDUCE	INVESCO QQQ TR	IVZ	-2,387	-$1.5M	+$45,338
ADD	CAPITAL GRP FIXED INCM ETF T	14020Y102	+53,114	+$1.2M	-$15,395

Sector Allocation

Technology

3.3%$20.8M

Healthcare

1.2%$7.7M

Consumer Discretionary

0.8%$5.3M

Industrials

0.7%$4.5M

Communication Services

0.5%$3.4M

0.5%$3.2M

0.5%$3.0M

0.1%$770,246

0.1%$496,236

Filing History

Jan 21, 202613F HOLDINGS REPORTQ/E Dec 2025105 pos · $621.8M
Oct 14, 202513F HOLDINGS REPORTQ/E Sep 2025104 pos · $549.2M
Jul 10, 202513F HOLDINGS REPORTQ/E Jun 2025104 pos · $492.3M
Apr 9, 202513F HOLDINGS REPORTQ/E Mar 2025102 pos · $429.5M
Jan 21, 202513F HOLDINGS REPORTQ/E Dec 2024104 pos · $418.5M
Oct 11, 202413F HOLDINGS REPORTQ/E Sep 2024100 pos · $412.4M
Aug 1, 202413F HOLDINGS REPORTQ/E Jun 202497 pos · $383.2M
Apr 15, 202413F HOLDINGS REPORTQ/E Mar 202497 pos · $369.1M
Oct 11, 202313F HOLDINGS REPORTQ/E Dec 202392 pos · $196.9M

Top 20 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	VANGUARD INDEX FDS	922908363	197,900	$124.1M	20.82%
2	ISHARES TR	464287226	897,669	$89.7M	15.04%
3	VANGUARD INDEX FDS	922908769	207,374	$69.5M	11.66%
4	PROFESIONALLY MANAGED PORTFO	74316P579	656,658	$43.0M	7.22%
5	VANGUARD TAX-MANAGED FDS	921943858	540,982	$33.8M	5.67%
6	ISHARES TR	46432F842	312,451	$28.0M	4.69%
7	ISHARES TR	464287614	49,280	$23.3M	3.91%
8	VANGUARD INDEX FDS	922908744	89,155	$17.0M	2.86%
9	VANGUARD INDEX FDS	922908652	80,694	$16.9M	2.83%
10	APPLE INC	AAPL	43,879	$11.9M	2.00%
11	VANGUARD INTL EQUITY INDEX F	922042858	213,386	$11.5M	1.92%
12	ISHARES TR	464287507	168,475	$11.1M	1.87%
13	SPDR INDEX SHS FDS	78463X509	212,549	$9.9M	1.67%
14	PIMCO ETF TR	72201R775	71,780	$6.7M	1.12%
15	ISHARES TR	464287200	8,900	$6.1M	1.02%
16	CAPITAL GRP FIXED INCM ETF T	14020Y102	245,357	$5.6M	0.93%
17	MICROSOFT CORP	MSFT	11,108	$5.4M	0.90%
18	CAPITAL GROUP DIVIDEND VALUE	14020W106	119,710	$5.2M	0.88%
19	VANGUARD INTL EQUITY INDEX F	922042742	33,179	$4.7M	0.79%
20	ISHARES TR	464287804	37,278	$4.5M	0.75%