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Livermore
Livermore
ZHEN

Affiance Financial, LLC

SEC CIK
0001723681
Latest filing
Jul 9, 2026

The latest 13F from Affiance Financial, LLC covers Q2 2026 (filed Jul 9, 2026): 110 long positions worth $694.8M. The top 10 holdings make up 72.3% of the portfolio, and the largest is Vanguard S&P 500 ETF at 19.2%. Livermore has 23 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
8
Est. +$3.35M
Added
38
Est. +$16.8M
Reduced
29
Est. −$4.77M
Sold out
3
Est. −$1.20M

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard S&P 500 ETF922908363
    19.2%$133.6M
  2. iShares Core U.S. Aggregate Bond ETF464287226
    14.1%$98.0M
  3. Vanguard Morningstar Total Stock Market ETF922908769
    12.6%$87.8M
  4. iShares Core MSCI Eafe ETF46432F842
    5.6%$39.1M
  5. Vanguard Ftse Developed Markets ETF921943858
    5.3%$37.1M

Biggest buys

New and added positions, by estimated amount bought

  1. Vanguard Morningstar Total Stock Market ETF922908769
    +$3.50MAdded
  2. PIMCO Active Bond Exchange-Traded Fund72201R775
    +$2.73MAdded
  3. iShares Russell 1000 Growth ETF464287614
    +$2.45MAddedConverted for a 4-for-1 split
  4. iShares Core MSCI Eafe ETF46432F842
    +$2.32MAdded
  5. iShares Core U.S. Aggregate Bond ETF464287226
    +$1.82MAdded

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. Vanguard Morningstar Total Stock Market ETF922908769
    +0.78 pp11.9% → 12.6%
  2. iShares Russell 1000 Growth ETF464287614
    +0.50 pp4.2% → 4.7%
  3. PIMCO Active Bond Exchange-Traded Fund72201R775
    +0.23 pp1.5% → 1.7%
  4. Vanguard Morningstar Small-Cap ETF922908751
    +0.14 pp0.0% → 0.1%
  5. MUMicron Technology Inc
    +0.12 pp0.0% → 0.1%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. AAPLApple Inc.
    −$1.08MReducedHistory
  2. NVDANVIDIA Corp
    −$1.05MReducedHistory
  3. HONHoneywell International Inc
    −$610.1KSold outHistory
  4. iShares Russell 1000 Value ETF464287598
    −$450.0KReduced
  5. XOMExxonMobil Holdings Corp
    −$383.5KSold outHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. Profesionally Managed Portfo74316P579
    −0.36 pp3.2% → 2.8%
  2. NVDANVIDIA Corp
    −0.14 pp0.4% → 0.3%History
  3. AAPLApple Inc.
    −0.14 pp1.6% → 1.5%History
  4. WMTWalmart Inc.
    −0.10 pp0.4% → 0.3%History
  5. HONHoneywell International Inc
    −0.10 pp0.1% → 0.0%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$694.8M
+$78.2M (+12.7%) vs. prior quarter
Positions
110
+5 vs. prior quarter
Top 10 concentration
72.3%
Top 10 as share of value
Turnover
0.9%
Q2 2026, one quarter
Average holding period
18.2 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $694.8M (Q2 2026)

Q1 2021: $224.3MQ2 2021: $235.9MQ3 2021: $229.9MQ4 2021: $239.6MQ1 2022: $205.7MQ2 2022: $185.5MQ3 2022: $177.5MQ4 2022: $246.7MQ1 2023: $189.0MQ2 2023: $205.2MQ3 2023: $196.9MQ4 2023: $343.5MQ1 2024: $369.1MQ2 2024: $383.2MQ3 2024: $412.0MQ4 2024: $418.1MQ1 2025: $429.3MQ2 2025: $492.2MQ3 2025: $549.2MQ4 2025: $621.3MQ1 2026: $616.6MQ2 2026: $694.8M
Q1 2021Q2 2026
13F filings of Affiance Financial, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 9, 2026110$694.8MVanguard S&P 500 ETFiShares Core U.S. Aggregate Bond ETFVanguard Morningstar Total Stock Market ETFvs. Q1 2026SEC
Q1 2026Apr 14, 2026105$616.6MVanguard S&P 500 ETFiShares Core U.S. Aggregate Bond ETFVanguard Morningstar Total Stock Market ETFvs. Q4 2025SEC
Q4 2025Jan 21, 2026104$621.3MVanguard S&P 500 ETFiShares Core U.S. Aggregate Bond ETFVanguard Morningstar Total Stock Market ETFvs. Q3 2025SEC
Q3 2025Oct 14, 2025104$549.2MVanguard S&P 500 ETFiShares Core U.S. Aggregate Bond ETFVanguard Morningstar Total Stock Market ETFvs. Q2 2025SEC
Q2 2025Jul 10, 2025103$492.2MVanguard S&P 500 ETFiShares Core U.S. Aggregate Bond ETFVanguard Morningstar Total Stock Market ETFvs. Q1 2025SEC
Q1 2025Apr 9, 2025101$429.3MVanguard S&P 500 ETFiShares Core U.S. Aggregate Bond ETFVanguard Morningstar Total Stock Market ETFvs. Q4 2024SEC
Q4 2024Jan 21, 2025102$418.1MVanguard S&P 500 ETFiShares Core U.S. Aggregate Bond ETFVanguard Morningstar Total Stock Market ETFvs. Q3 2024SEC
Q3 2024Oct 11, 202498$412.0MVanguard S&P 500 ETFiShares Core U.S. Aggregate Bond ETFVanguard Morningstar Total Stock Market ETFvs. Q2 2024SEC
Q2 2024Aug 1, 202496$383.2MVanguard S&P 500 ETFiShares Core U.S. Aggregate Bond ETFVanguard Morningstar Total Stock Market ETFvs. Q1 2024SEC
Q1 2024Apr 15, 202495$369.1MVanguard S&P 500 ETFiShares Core U.S. Aggregate Bond ETFVanguard Morningstar Total Stock Market ETFvs. Q4 2023SEC
Q4 2023Jan 10, 202495$343.5MVanguard S&P 500 ETFiShares Core U.S. Aggregate Bond ETFVanguard Morningstar Total Stock Market ETFvs. Q3 2023SEC
Q3 2023Oct 11, 202392$196.9MVanguard Morningstar Total Stock Market ETFiShares Core S&P Small Cap ETFVanguard Morningstar Value ETFvs. Q2 2023SEC
Q2 2023Jul 12, 202399$205.2MiShares Core S&P Small Cap ETFVanguard Morningstar Value ETFVanguard Morningstar Total Stock Market ETFvs. Q1 2023SEC
Q1 2023Apr 18, 202394$189.0MiShares Core S&P Small Cap ETFVanguard Morningstar Value ETFiShares Core S&P Mid-Cap ETFvs. Q4 2022SEC
Q4 2022Jan 20, 2023436$246.7MiShares Russell 1000 Value ETFJanus Detroit STR TrInvesco Exchange Traded FD Tvs. Q3 2022SEC
Q3 2022Oct 27, 2022136$177.5MiShares Russell 1000 Value ETFJanus Detroit STR TriShares Core S&P Small Cap ETFvs. Q2 2022SEC
Q2 2022Jul 14, 2022124$185.5MiShares Russell 1000 Value ETFJanus Detroit STR TriShares Core S&P Small Cap ETFvs. Q1 2022SEC
Q1 2022Apr 19, 2022Amended133$205.7MiShares Core S&P Mid-Cap ETFiShares Core S&P Small Cap ETFJanus Detroit STR Trvs. Q4 2021SEC
Q4 2021Feb 1, 2022146$239.6MVanguard Short-Term Bond ETFiShares Core S&P Mid-Cap ETFVanguard Morningstar Total Stock Market ETFvs. Q3 2021SEC
Q3 2021Oct 12, 2021155$229.9MVanguard Short-Term Bond ETFiShares Core S&P Mid-Cap ETFVanguard Morningstar Total Stock Market ETFvs. Q2 2021SEC
Q2 2021Jul 14, 2021159$235.9MVanguard Short-Term Bond ETFiShares Core S&P Mid-Cap ETFVanguard Morningstar Total Stock Market ETFvs. Q1 2021SEC
Q1 2021Apr 21, 2021153$224.3MVanguard Short-Term Bond ETFiShares Core S&P Mid-Cap ETFVanguard Morningstar Total Stock Market ETF–SEC