LFA - Lugano Financial Advisors SA Q4 2025 Filing

Filed January 29, 2026

Portfolio Value

$193.7B

Holdings

235

Report Date

Q4 2025

Filing Type

13F-HR

All Holdings (235 positions)

#StockSharesValue% PortfolioType
1
SPYSPDR S&P 500 ETF TR
38,944$26.6B13.71%
2
ESGDISHARES TR
229,552$21.8B11.27%
3
GQ9SPDR GOLD TR
31,384$12.4B6.42%
4
SUSBISHARES TR
457,113$11.5B5.96%
5
FNDESCHWAB STRATEGIC TR
213,157$7.7B3.97%
6
VWOBVANGUARD WHITEHALL FDS
76,896$5.2B2.68%
7
IGIBISHARES TR
91,298$4.9B2.54%
8
FTLSFIRST TR EXCH TRADED FD III
59,301$4.2B2.17%
9
SDVYFIRST TR EXCHANGE-TRADED FD
106,958$4.1B2.12%
10
IBNDSPDR SERIES TRUST
125,422$4.0B2.08%
11
VCSHVANGUARD SCOTTSDALE FDS
50,020$4.0B2.06%
12
IBDUISHARES TR
151,513$3.5B1.83%
13
SGOVISHARES TR
35,061$3.5B1.82%
14
TLHISHARES TR
33,915$3.4B1.78%
15
QAINEW YORK LIFE INVESTMENTS ET
99,176$3.3B1.72%
16
VGITVANGUARD SCOTTSDALE FDS
54,042$3.2B1.67%
17
SJNKSPDR SERIES TRUST
123,784$3.1B1.62%
18
MSFTMICROSOFT CORP
6,378$3.1B1.59%
19
NDQINVESCO QQQ TR
4,637$2.8B1.47%
20
IEFISHARES TR
28,863$2.8B1.43%
21
GDXVANECK ETF TRUST
32,318$2.8B1.43%
22
AMZNAMAZON COM INC
11,455$2.6B1.37%
23
CIBRFIRST TR EXCHANGE TRADED FD
36,927$2.6B1.36%
24
FEZSPDR INDEX SHS FDS
39,464$2.5B1.31%
25
IBDTISHARES TR
93,268$2.4B1.23%
26
SHYISHARES TR
24,548$2.0B1.05%
27
IBDVISHARES TR
87,762$1.9B1.00%
28
EFAISHARES TR
19,699$1.9B0.98%
29
QLTAISHARES TR
38,309$1.8B0.95%
30
EWLISHARES INC
29,095$1.7B0.90%
31
VSGXVANGUARD WORLD FD
23,684$1.7B0.88%
32
CWBSPDR SERIES TRUST
14,651$1.3B0.67%
33
EMBISHARES TR
12,937$1.2B0.64%
34
AAPLAPPLE INC
4,542$1.2B0.64%
35
GOOGALPHABET INC
3,447$1.1B0.56%
36
PSPINVESCO EXCHANGE TRADED FD T
15,906$1.1B0.55%
37
RNRGGLOBAL X FDS
31,504$1.0B0.54%
38
VGTVANGUARD WORLD FD
1,350$1.0B0.53%
39
GOOGLALPHABET INC
2,413$755.0M0.39%
40
SCHFSCHWAB STRATEGIC TR
31,104$747.0M0.39%
41
VHTVANGUARD WORLD FD
2,550$734.0M0.38%
42
CATCATERPILLAR INC
1,250$714.0M0.37%
43
EWUISHARES TR
15,869$697.0M0.36%
44
NVDANVIDIA CORPORATION
3,373$629.0M0.32%
45
PDBCINVESCO ACTVELY MNGD ETC FD
45,565$603.0M0.31%
46
XLISELECT SECTOR SPDR TR
3,500$542.0M0.28%
47
VCLTVANGUARD SCOTTSDALE FDS
7,004$531.0M0.27%
48
JPMJPMORGAN CHASE & CO.
1,624$520.0M0.27%
49
PIOINVESCO EXCH TRADED FD TR II
11,497$507.0M0.26%
50
FPEIFIRST TR EXCH TRADED FD III
24,000$463.0M0.24%
51
XLFSELECT SECTOR SPDR TR
7,300$399.0M0.21%
52
ESGEISHARES INC
8,774$387.0M0.20%
53
VVISA INC
1,091$382.0M0.20%
54
KKRKKR & CO INC
2,850$363.0M0.19%
55
HEWJISHARES TR
6,868$361.0M0.19%
56
RSPINVESCO EXCHANGE TRADED FD T
1,878$359.0M0.19%
57
ABTABBOTT LABS
2,707$337.0M0.17%
58
IAU*ISHARES GOLD TR
3,893$315.0M0.16%
59
XLYSELECT SECTOR SPDR TR
2,600$310.0M0.16%
60
XLFISELECT SECTOR SPDR TR
4,000$310.0M0.16%
61
BXBLACKSTONE INC
2,000$308.0M0.16%
62
METAMETA PLATFORMS INC
468$308.0M0.16%
63
ITA*ISHARES TR
1,437$308.0M0.16%
64
VWOVANGUARD INTL EQUITY INDEX F
5,621$302.0M0.16%
65
IVEISHARES TR
1,400$296.0M0.15%
66
BKNGBOOKING HOLDINGS INC
53$283.0M0.15%
67
ABBVABBVIE INC
1,240$281.0M0.15%
68
EMXCISHARES INC
3,547$257.0M0.13%
69
ICLNISHARES TR
15,619$256.0M0.13%
70
BACBANK AMERICA CORP
4,571$251.0M0.13%
71
RMERESMED INC
1,018$245.0M0.13%
72
KOCOCA COLA CO
3,492$244.0M0.13%
73
DONSPDR DOW JONES INDL AVERAGE
500$240.0M0.12%
74
MAMASTERCARD INCORPORATED
418$238.0M0.12%
75
XLKSELECT SECTOR SPDR TR
1,626$234.0M0.12%
76
VOVANGUARD INDEX FDS
800$232.0M0.12%
77
TSLATESLA INC
506$227.0M0.12%
78
VYMVANGUARD WHITEHALL FDS
1,555$223.0M0.12%
79
SDGISHARES TR
2,522$212.0M0.11%
80
IBBISHARES TR
1,200$202.0M0.10%
81
VEUVANGUARD INTL EQUITY INDEX F
2,680$197.0M0.10%
82
IWMISHARES TR
795$195.0M0.10%
83
BNDVANGUARD BD INDEX FDS
2,575$190.0M0.10%
84
SUSAISHARES TR
1,343$187.0M0.10%
85
AVGOBROADCOM INC
536$185.0M0.10%
86
BWZSPDR SERIES TRUST
6,457$176.0M0.09%
87
IVVISHARES TR
257$176.0M0.09%
88
AZNASTRAZENECA PLC
1,900$174.0M0.09%
89
BNDXVANGUARD CHARLOTTE FDS
3,513$169.0M0.09%
90
TRVCCITIGROUP INC
1,400$163.0M0.08%
91
AEPAMERICAN ELEC PWR CO INC
1,412$162.0M0.08%
92
BSVVANGUARD BD INDEX FDS
2,056$162.0M0.08%
93
GHYGISHARES INC
3,373$155.0M0.08%
94
EBNDSPDR SERIES TRUST
7,185$153.0M0.08%
95
MCDMCDONALDS CORP
500$152.0M0.08%
96
FTSLFIRST TR EXCHANGE-TRADED FD
3,270$149.0M0.08%
97
VNQVANGUARD INDEX FDS
1,669$147.0M0.08%
98
YUMYUM BRANDS INC
970$146.0M0.08%
99
AQLTISHARES TR
1,628$145.0M0.07%
100
SCHPSCHWAB STRATEGIC TR
5,398$142.0M0.07%
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