Institutional Manager · CIK 0001726609

AAF Wealth Management, LLC

WESTBOROUGH, MA · File #028-20666

Latest AUM

$237.2M

Positions

Top-10 Concentration

87.4%

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
REDUCE	APPLE INC	AAPL	-16,488	-$4.5M	+$318,302
REDUCE	ALPHABET INC	GOOG	-11,789	-$3.7M	+$897,452
ADD	INVESCO EXCH TRADED FD TR II	IVZ	+6,257	+$1.6M	+$571,868
ADD	ISHARES TR	46435G326	+14,473	+$1.2M	+$936,049
ADD	VANGUARD WHITEHALL FDS	921946794	+13,167	+$1.2M	+$1.2M
ADD	VANGUARD INDEX FDS	922908744	+5,396	+$1.0M	+$805,711
ADD	MICROSOFT CORP	MSFT	+1,616	+$781,538	-$33,744
REDUCE	ISHARES TR	464287200	-1,113	-$762,334	+$1.4M
NEW	INVESCO QQQ TR	IVZ	+1,238	+$760,430	$0
ADD	SPDR S&P 500 ETF TR	SPY	+940	+$640,990	+$24,458

Sector Allocation

Financials

12.3%$29.1M

Technology

3.6%$8.6M

Communication Services

0.7%$1.6M

Consumer Discretionary

0.5%$1.1M

Industrials

0.3%$602,576

Healthcare

0.2%$404,975

Filing History

Feb 6, 202613F HOLDINGS REPORTQ/E Dec 202556 pos · $237.2M
Nov 12, 202513F HOLDINGS REPORTQ/E Sep 202547 pos · $220.8M
Aug 5, 202513F HOLDINGS REPORTQ/E Jun 202566 pos · $219.5M
May 19, 202513F HOLDINGS REPORT (Amended)Q/E Mar 202559 pos · $141.2M
May 19, 202513F HOLDINGS REPORT (Amended)Q/E Mar 202566 pos · $153.3M
May 19, 202513F HOLDINGS REPORT (Amended)Q/E Mar 202554 pos · $125.5M
May 19, 202513F HOLDINGS REPORT (Amended)Q/E Mar 202563 pos · $162.4M
May 19, 202513F HOLDINGS REPORT (Amended)Q/E Mar 202545 pos · $198.5M
May 19, 202513F HOLDINGS REPORT (Amended)Q/E Mar 202544 pos · $155.7M
May 19, 202513F HOLDINGS REPORT (Amended)Q/E Mar 202528 pos · $110.4M
May 19, 202513F HOLDINGS REPORT (Amended)Q/E Mar 202524 pos · $117.7M
May 19, 202513F HOLDINGS REPORT (Amended)Q/E Mar 202525 pos · $129.6M
May 19, 202513F HOLDINGS REPORT (Amended)Q/E Mar 202551 pos · $132.7M
May 19, 202513F HOLDINGS REPORT (Amended)Q/E Mar 202551 pos · $198.3M
May 19, 202513F HOLDINGS REPORT (Amended)Q/E Mar 202531 pos · $131.6M
May 19, 202513F HOLDINGS REPORT (Amended)Q/E Mar 202543 pos · $177.8M
May 19, 202513F HOLDINGS REPORT (Amended)Q/E Mar 202550 pos · $171.0M
May 19, 202513F HOLDINGS REPORT (Amended)Q/E Mar 202546 pos · $193.0M
May 19, 202513F HOLDINGS REPORT (Amended)Q/E Mar 202531 pos · $138.2M
May 19, 202513F HOLDINGS REPORT (Amended)Q/E Mar 202547 pos · $152.1M

Top 20 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	ISHARES TR	464287200	85,528	$58.6M	24.82%
2	VANGUARD INDEX FDS	922908744	184,455	$35.2M	14.93%
3	ISHARES TR	46435G326	419,662	$34.6M	14.67%
4	INVESCO EXCH TRADED FD TR II	IVZ	104,860	$26.5M	11.24%
5	VANGUARD WHITEHALL FDS	921946794	240,698	$21.7M	9.18%
6	ISHARES TR	464287507	191,249	$12.6M	5.35%
7	APPLE INC	AAPL	19,210	$5.2M	2.21%
8	ISHARES TR	46432F842	56,339	$5.0M	2.14%
9	ALPHABET INC	GOOG	13,706	$4.3M	1.82%
10	VANGUARD INDEX FDS	922908629	8,963	$2.6M	1.10%
11	FIDELITY COVINGTON TRUST	316092113	54,408	$2.1M	0.88%
12	SPDR S&P 500 ETF TR	SPY	2,485	$1.7M	0.72%
13	ISHARES TR	464287614	3,553	$1.7M	0.71%
14	INVESCO EXCHANGE TRADED FD T	IVZ	75,681	$1.7M	0.71%
15	META PLATFORMS INC	META	2,492	$1.6M	0.70%
16	ISHARES TR	464287804	11,237	$1.4M	0.57%
17	ALPHABET INC	GOOG	4,117	$1.3M	0.55%
18	MICROSOFT CORP	MSFT	2,603	$1.3M	0.53%
19	VANGUARD INDEX FDS	922908736	2,255	$1.1M	0.47%
20	ISHARES TR	46429B697	10,564	$994,719	0.42%