JNBA Financial Advisors — 13F Holdings & Portfolio
CIK 1569118 · latest 13F-HR filed 2026-07-23
JNBA Financial Advisors manages $1.32B in 13F-reported U.S. long-equity assets across 830 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are IVV (13.16%), SPDW (9.27%), SGOV (7.04%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 95 new positions and exited 84; 422 existing positions rose in reported value and 170 fell.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
Long-equity book
Distinct positions
Filed 2026-07-23
vs 2026-03-31
Portfolio charts
Latest quarter's book, what changed, and how the portfolio has evolved across filings.
Portfolio map
Q2 26Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.
Sector mix
% of 13F valueSectors from each company's SIC code; funds and ETFs grouped separately.
Biggest buys and sells
Q1 26 → Q2 26Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.
13F assets and positions
3 quartersTotal reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.
Top positions over time
reported valueThe eight largest current positions, valued at each quarter end.
Concentration
top 10 = 55.9%Cumulative share of the portfolio held in the largest N positions.
As of the firm’s regulatory filing dated Sep 22, 2026.
SUITE 450
BLOOMINGTON, MN 55437
| Name | Title / Status | Ownership | Type |
|---|---|---|---|
| BROWN, KIMBERLEE, MARIE Control | PRESIDENT/CHIEF COMPLIANCE OFFICER since Apr 2011 | Less than 5% | Individual |
| BROWN, RICHARD, STEPHEN Control | CHAIRMAN AND C.E.O. since Aug 1998 | Less than 5% | Individual |
| JNBA FINANCIAL HOLDINGS, LLC Control | MEMBER since Jan 2021 | 75% or more | Domestic Entity |
| BROWN, RICHARD, STEPHEN Control Indirect owner via JNBA FINANCIAL ADVISORS INC | SHAREHOLDER since Aug 1998 | 75% or more | Individual |
| JNBA FINANCIAL ADVISORS INC Control Indirect owner via JNBA FINANCIAL HOLDINGS, LLC | MEMBER since Jan 2021 | 75% or more | Domestic Entity |
Ownership & leadership changes · 3 filings with changes since Nov 21, 2011
From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.
- AddedBROWN, RICHARD, STEPHEN · SHAREHOLDER · 75% or more · indirect via JNBA FINANCIAL ADVISORS INC · control person
- AddedJNBA FINANCIAL ADVISORS INC · MEMBER · 75% or more · indirect via JNBA FINANCIAL HOLDINGS, LLC · control person
- AddedJNBA FINANCIAL HOLDINGS, LLC · MEMBER · 75% or more · control person
- ChangedBROWN, RICHARD, STEPHEN · ownership 75% or more → Less than 5%
- ChangedBROWN, KIMBERLEE, MARIE · title CHIEF COMPLIANCE OFFICER → PRESIDENT/CHIEF COMPLIANCE OFFICER
- ChangedBROWN, RICHARD, STEPHEN · title C.E.O. → CHAIRMAN AND C.E.O.
- No longer listedMERTENS, TROY, JOHN · CHIEF OPERATING OFFICER · Less than 5% · control person · listed since Nov 1999
- ListedBROWN, KIMBERLEE, MARIE · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
- ListedBROWN, RICHARD, STEPHEN · C.E.O. · 75% or more · control person
- ListedMERTENS, TROY, JOHN · CHIEF OPERATING OFFICER · Less than 5% · control person
Quarter-over-quarter changes
Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.
Top Adds (vs prior quarter)
- ISHARES TR$15.9M +10.1%
- API GROUP CORP$12.6M +74.1%
- AMERICAN CENTY ETF TR$8.6M +14.3%
- SPDR INDEX SHS FDS$8.0M +7.0%
- ISHARES TR$7.7M +9.1%
Top Trims
- SPDR SERIES TRUST-$7.0M -45.1%
- ISHARES TR-$2.6M -80.4%
- ISHARES GOLD TR-$1.8M -15.6%
- CF INDUSTRIES HOLD-$1.3M -16.6%
- WORLD GOLD TR-$1.2M -22.1%
New Positions
- LUMENTUM HLDGS INC$846.0K
- BLOOM ENERGY CORP$649.0K
- DIMENSIONAL ETF TRUST$332.1K
- HONEYWELL INTL INC$298.4K
- HONEYWELL AEROSPACE INC$293.8K
Exited Positions
- HONEYWELL INTL INC$577.5K
- THOMSON REUTERS CORP$54.2K
- VANGUARD WELLINGTON FD$32.2K
- CARNIVAL CORP$29.8K
- CHIPMOS TECHNOLOGIES INC$26.8K
JNBA Financial Advisors Holdings (2026-06-30)
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | ISHARES TR | IVV | 464287200 | $173.9M | 13.16% | 232,149 | SH |
| 2 | SPDR INDEX SHS FDS | SPDW | 78463X889 | $122.5M | 9.27% | 2,430,445 | SH |
| 3 | ISHARES TR | SGOV | 46436E718 | $93.0M | 7.04% | 924,007 | SH |
| 4 | AMERICAN CENTY ETF TR | AVDE | 025072703 | $68.7M | 5.20% | 769,910 | SH |
| 5 | ISHARES TR | IJH | 464287507 | $61.2M | 4.64% | 794,124 | SH |
| 6 | SPDR SERIES TRUST | SPMD | 78464A847 | $55.1M | 4.17% | 815,885 | SH |
| 7 | VANGUARD INDEX FDS | VUG | 922908736 | $50.1M | 3.79% | 581,566 | SH |
| 8 | SPDR INDEX SHS FDS | SPEM | 78463X509 | $41.3M | 3.12% | 796,899 | SH |
| 9 | VANGUARD TAX-MANAGED FDS | VEA | 921943858 | $38.1M | 2.89% | 535,325 | SH |
| 10 | VANECK ETF TRUST | MOAT | 92189F643 | $35.2M | 2.67% | 338,932 | SH |
| 11 | API GROUP CORP | APG | 00187Y100 | $29.6M | 2.24% | 699,242 | SH |
| 12 | SPDR SERIES TRUST | SPYG | 78464A409 | $26.7M | 2.02% | 224,178 | SH |
| 13 | VANGUARD INDEX FDS | VV | 922908637 | $25.8M | 1.95% | 75,027 | SH |
| 14 | AFLAC INC | AFL | 001055102 | $25.2M | 1.91% | 214,727 | SH |
| 15 | VANGUARD SPECIALIZED FUNDS | VIG | 921908844 | $21.4M | 1.62% | 90,466 | SH |
| 16 | SCHWAB STRATEGIC TR | FNDF | 808524755 | $20.0M | 1.51% | 378,322 | SH |
| 17 | VANGUARD INTL EQUITY INDEX F | VWO | 922042858 | $18.1M | 1.37% | 303,085 | SH |
| 18 | INVESCO EXCHANGE TRADED FD T | SPHQ | 46137V241 | $17.7M | 1.34% | 196,648 | SH |
| 19 | VANGUARD INDEX FDS | VO | 922908629 | $15.7M | 1.19% | 195,423 | SH |
| 20 | SPDR SERIES TRUST | SPYM | 78464A854 | $14.2M | 1.08% | 162,121 | SH |
| 21 | ISHARES TR | IJR | 464287804 | $13.5M | 1.03% | 91,345 | SH |
| 22 | MICROSOFT CORP | MSFT | 594918104 | $12.1M | 0.92% | 32,543 | SH |
| 23 | INVESCO EXCHANGE TRADED FD T | PRF | 46137V613 | $11.4M | 0.86% | 210,945 | SH |
| 24 | APPLIED MATLS INC | AMAT | 038222105 | $9.8M | 0.74% | 13,519 | SH |
| 25 | ISHARES GOLD TR | IAU | 464285204 | $9.7M | 0.74% | 128,823 | SH |
| 26 | INTEL CORP | INTC | 458140100 | $9.2M | 0.70% | 65,771 | SH |
| 27 | APPLE INC | AAPL | 037833100 | $9.0M | 0.68% | 31,180 | SH |
| 28 | SPDR SERIES TRUST | SPSM | 78468R853 | $8.6M | 0.65% | 148,319 | SH |
| 29 | SPDR SERIES TRUST | MDYG | 78464A821 | $8.4M | 0.64% | 75,077 | SH |
| 30 | SPDR SERIES TRUST | MDYV | 78464A839 | $8.2M | 0.62% | 85,995 | SH |
| 31 | VANGUARD WHITEHALL FDS | VIGI | 921946810 | $8.0M | 0.60% | 85,265 | SH |
| 32 | ISHARES TR | ESGD | 46435G516 | $7.7M | 0.58% | 74,525 | SH |
| 33 | ISHARES TR | IVLU | 46435G409 | $7.6M | 0.57% | 181,385 | SH |
| 34 | VANGUARD INDEX FDS | VB | 922908751 | $7.4M | 0.56% | 24,310 | SH |
| 35 | ISHARES TR | IJK | 464287606 | $7.2M | 0.55% | 61,696 | SH |
| 36 | CF INDUSTRIES HOLD | CF | 125269100 | $6.8M | 0.51% | 62,452 | SH |
| 37 | AMERICAN CENTY ETF TR | AVEM | 025072604 | $5.4M | 0.41% | 55,779 | SH |
| 38 | ISHARES TR | IJJ | 464287705 | $4.9M | 0.37% | 33,379 | SH |
| 39 | SCHWAB STRATEGIC TR | SCHD | 808524797 | $4.9M | 0.37% | 153,033 | SH |
| 40 | VANGUARD MUN BD FDS | VTEB | 922907746 | $4.7M | 0.35% | 92,273 | SH |
| 41 | VANGUARD INTL EQUITY INDEX F | VEU | 922042775 | $4.6M | 0.35% | 54,755 | SH |
| 42 | VANGUARD INDEX FDS | VOE | 922908512 | $4.4M | 0.34% | 22,428 | SH |
| 43 | VANGUARD WORLD FD | VGT | 92204A702 | $4.3M | 0.33% | 36,349 | SH |
| 44 | ISHARES TR | XJH | 46436E551 | $4.3M | 0.33% | 82,878 | SH |
| 45 | ISHARES TR | XVV | 46436E569 | $4.3M | 0.33% | 75,662 | SH |
| 46 | WORLD GOLD TR | GLDM | 98149E303 | $4.2M | 0.31% | 52,392 | SH |
| 47 | VANGUARD INDEX FDS | VTI | 922908769 | $4.1M | 0.31% | 11,025 | SH |
| 48 | GRACO INC | GGG | 384109104 | $4.1M | 0.31% | 53,891 | SH |
| 49 | VANGUARD SCOTTSDALE FDS | VCSH | 92206C409 | $3.9M | 0.29% | 48,901 | SH |
| 50 | SPDR SERIES TRUST | SPYV | 78464A508 | $3.8M | 0.29% | 62,238 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-06-30 | 2026-07-23 | $1.32B | 830 | 0001569118-26-000005 |
| 2026-03-31 | 2026-04-23 | $1.20B | 819 | 0001569118-26-000003 |
| 2025-12-31 | 2026-01-26 | $1.14B | 796 | 0001569118-26-000001 |
SUITE 450
BLOOMINGTON, MN 55437