L-
LFA - Lugano Financial Advisors SA: 13F Stock Holdings & Portfolio (Q2 2026)
LFA - Lugano Financial Advisors SACIK: 0001737871
Diversified strategyLong-term holder
Total reported value
$166.2M
Reporting period: 2026-06-30 · Number of holdings: 274
LFA - Lugano Financial Advisors SA disclosed 274 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $166.2M and a quarterly turnover rate of 0.0%.
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Personality snowflake
- Concentration
- 27.65
- Portfolio Stability
- 0
- Momentum
- 50
- Sector conviction
- 54.68
- Diversification
- 100
- Sizing Uniformity
- 57.57
LFA - Lugano Financial Advisors SA's disclosed holdings carry a Herfindahl concentration index of 0.069 — mathematically equivalent to about 14 equally-sized positions, well below its 274 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 4.24), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 11% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govSold out ESGD
Add SPY
+21.5% $9.9M
Sold out SUSB
Trim GLD
-28.3% -$5.4M
Trim IBND
-99.0% -$3.8M
Sold out IEF
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 200 holdings (of 274 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 22.60% | +8.52% | +21.47% | |
| 2 | FNDE | Schwab Fndmntl Em Mrk Eq ETF | ETF-Other | 7.84% | +1.33% | -1.83% | |
| 3 | GLD | Spdr Gold Shares | ETF-Commodities | 4.90% | -1.97% | -28.32% | |
| 4 | IGIB | Ishares 5-10y Inv Grade CORP | ETF-Corp Bonds | 3.44% | +0.80% | +10.21% | |
| 5 | VCSH | Vanguard S/t CORP Bond ETF | ETF-Corp Bonds | 3.08% | +0.78% | +15.17% | |
| 6 | VWOB | Vanguard Emerg Mkts Gov Bnd | ETF-Other | 2.85% | +0.34% | -5.33% | |
| 7 | VSGX | Vanguard Esg Intl Stock ETF | ETF-Other | 2.60% | +0.99% | +18.73% | |
| 8 | QAI | Nyli Hdg Multi-str Trk ETF | ETF-Other | 2.23% | +0.53% | +7.04% | |
| 9 | FTLS | First Trust Long/short Eqty | ETF-Other | 2.20% | +0.34% | -0.51% | |
| 10 | TLH | Ishares 10-20 Year Treasury | ETF-Gov Bonds | 2.05% | +0.32% | +1.58% | |
| 11 | SJNK | Ss Spdr Bb St Hi Yield ETF | ETF-Other | 2.02% | +0.10% | -11.57% | |
| 12 | IBDU | Ishares Ibonds Dec 2029 Term | ETF-Other | 2.01% | +0.23% | -4.70% | |
| 13 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 1.96% | +0.70% | +2.63% | |
| 14 | VGIT | Vanguard Intermediate-term T | ETF-Other | 1.95% | +0.28% | +1.03% | |
| 15 | CIBR | First Trust Nasdaq Cybersecu | ETF-Tech | 1.94% | +0.64% | -8.86% | |
| 16 | FEZ | State Street Spdr Euro Stoxx | ETF-Other | 1.68% | -0.59% | -43.52% | |
| 17 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 1.60% | +0.37% | -1.36% | |
| 18 | MSFT | Microsoft CORP | Stock-Tech | 1.45% | +0.23% | +1.71% | |
| 19 | IBDT | Ishares Ibonds Dec 2028 ETF | ETF-Other | 1.43% | +0.22% | — | |
| 20 | IBDV | Ishares Ibonds Dec 2030 CORP | ETF-Other | 1.27% | +0.23% | +2.65% | |
| 21 | SHY | Ishares 1-3 Year Treasury Bo | ETF-Gov Bonds | 1.25% | +0.20% | +0.27% | |
| 22 | EFA | Ishares Msci Eafe ETF | ETF-Other | 1.23% | +0.26% | — | |
| 23 | EWL | Ishares Msci Switzerland ETF | ETF-Other | 1.10% | +0.16% | -6.99% | |
| 24 | QLTA | Ishares Aaa - A Rated Corpor | ETF-Other | 0.98% | +0.06% | -9.27% | |
| 25 | CWB | Ss Spdr Bb Conv Sec ETF | ETF-Other | 0.95% | +0.27% | — | |
| 26 | GDX | Vaneck Gold Miners ETF | ETF-Commodities | 0.89% | -0.71% | -41.24% | |
| 27 | CAT | Caterpillar Inc | Stock-Industrials | 0.82% | +0.37% | +2.72% | |
| 28 | SGOV | Ishares 0-3 Month Treasury B | ETF-Gov Bonds | 0.80% | -0.07% | -23.00% | |
| 29 | VGT | Vanguard Info Tech ETF | ETF-Tech | 0.78% | +0.72% | +700.00% | |
| 30 | ESGE | Ishares Inc Ishares Esg Awar | ETF-Other | 0.75% | +0.22% | — | |
| 31 | AAPL | Apple Inc | Stock-Tech | 0.71% | +0.21% | +5.65% | |
| 32 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.60% | +0.22% | +7.97% | |
| 33 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 0.52% | +0.16% | -2.78% | |
| 34 | SCHF | Schwab Intl Equity ETF | ETF-Other | 0.52% | +0.13% | — | |
| 35 | PSP | Invesco Global Listed Privat | ETF-Other | 0.49% | +0.03% | -5.20% | |
| 36 | VHT | Vanguard Health Care ETF | ETF-Other | 0.46% | +0.11% | — | |
| 37 | EWU | Ishares Msci United Kingdom | ETF-Other | 0.45% | +0.08% | — | |
| 38 | NVDA | Nvidia CORP | Stock-Tech | 0.43% | +0.13% | +4.80% | |
| 39 | VCIT | Vanguard Int-term Corporate | ETF-Corp Bonds | 0.40% | +0.34% | +458.22% | |
| 40 | XLI | Ss Industrial Select Sector | ETF-Other | 0.39% | +0.10% | — | |
| 41 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.36% | +0.12% | +13.92% | |
| 42 | FPEI | First Trust Institutional Pr | ETF-Other | 0.33% | +0.06% | — | |
| 43 | PHYS | Sprott Physical Gold Trust | Stock-Other | 0.33% | +0.33% | NEW | |
| 44 | EMB | Ishares Jp Morgan Usd Emergi | ETF-Other | 0.29% | -0.38% | -62.90% | |
| 45 | VCLT | Vanguard Long-term CORP Bond | ETF-Corp Bonds | 0.27% | +0.02% | -9.28% | |
| 46 | HEWJ | Isha Curr Hedged Msci Japan | ETF-Other | 0.27% | +0.07% | — | |
| 47 | EMXC | Ishares Msci Emr Mrk Ex Chna | ETF-Other | 0.25% | +0.11% | +12.49% | |
| 48 | RSP | Invesco S&p 500 Equal Weight | ETF-Large Cap & Growth | 0.24% | +0.06% | — | |
| 49 | GARP | Ishares Msci USA Quality Gar | ETF-Other | 0.24% | +0.24% | NEW | |
| 50 | XLF | Ss Financial Select Sector | ETF-Other | 0.24% | +0.06% | — |
1–50 of 200
Portfolio Performance
Performance for Q3 2026
+1.8%
Performance Last 4 Quarters
+14.8%
- Stdev
- +8.2%
- Beta
- +0.59
- Alpha
- +2.1%
- Max Drawdown
- -5.1%
- Annualized Perf
- +14.4%
- Batting Avg vs S&P
- +38.9%
- Sortino
- +3.18
- Stutzer
- +0.48
- Treynor
- +0.24
- Sterling
- +1.08
- Calmar
- +2.82
- Information Ratio
- -0.99
- Tracking Error
- +6.2%
- Stdev Down
- +4.3%
- Winning Months %
- +75%
- Losing Months %
- +25%
- Best 12 Months
- +23.1%
- Worst 12 Months
- +7.9%
- Efficiency Ratio
- +0.62
- Sharpe
- +1.69
- Stdev Sectors
- +9.1%
- Skewness
- -0.49
- Kurtosis
- +0.3
- Upside Potential
- +4.66
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 274 | $166.2M | 0 | ||
| 2026 Q1 | 223 | $196.6M | 15 | ||
| 2025 Q4 | 235 | $193.7M | 7 | ||
| 2025 Q3 | 229 | $189.7M | 51 | ||
| 2025 Q2 | 245 | $168.8M | 0 | ||
| 2025 Q1 | 191 | $147.1M | 100 | ||
| 2024 Q4 | 193 | $153.0M | 0 | ||
| 2024 Q3 | 183 | $147.1M | 0 | ||
| 2024 Q2 | 172 | $131.3M | 0 | ||
| 2024 Q1 | 160 | $137.4M | 0 | ||
| 2023 Q4 | 170 | $127.3M | 0 | ||
| 2023 Q3 | 179 | $116.8M | 0 | ||
| 2023 Q2 | 169 | $150.3M | 0 | ||
| 2023 Q1 | 111 | $132.2M | 0 | ||
| 2022 Q4 | 117 | $134.9M | 0 | ||
| 2022 Q3 | 115 | $127.4M | 0 | ||
| 2022 Q2 | 132 | $143.1M | 0 | ||
| 2022 Q1 | 109 | $149.5M | 0 | ||
| 2021 Q4 | 119 | $173.2M | 0 | ||
| 2021 Q3 | 105 | $152.3M | 0 | ||
| 2021 Q2 | 98 | $158.9M | 100 | ||
| 2021 Q1 | 94 | $142.9M | 31 | ||
| 2020 Q4 | 103 | $129.0M | 29 | ||
| 2020 Q3 | 110 | $107.7M | 21 | ||
| 2020 Q2 | 112 | $94.7M | 58 | ||
| 2020 Q1 | 123 | $111.2M | 30 | ||
| 2019 Q4 | 135 | $136.9M | 35 | ||
| 2019 Q2 | 158 | $161.3M | 15 | ||
| 2019 Q1 | 137 | $166.9M | 100 | ||
| 2018 Q4 | 159 | $143.9M | 0 | ||
| 2018 Q3 | 159 | $143.9M | 64 | ||
| 2018 Q2 | 132 | $104.2M | — |
Holding changes this quarter
LFA - Lugano Financial Advisors SA's most significant position changes for 2026-06-30: Sold out: Ishares Trust Ishares Esg Aw (ESGD); Sold out: Ishares Esg Aware 1-5 Year U (SUSB); Sold out: Ishares 7-10 Year Treasury B (IEF); Sold out: Global X Renewable Ener Prod (RNRG); New buy: Sprott Physical Gold Trust (PHYS).
Showing top 200 changes by size (of 287 total)
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | SPY | Ss Spdr S&p 500 ETF Trust-us | +8.5% | +21.47% | Add |
| 2 | FNDE | Schwab Fndmntl Em Mrk Eq ETF | +1.3% | -1.83% | Trim |
| 3 | VSGX | Vanguard Esg Intl Stock ETF | +1% | +18.73% | Add |
| 4 | IGIB | Ishares 5-10y Inv Grade CORP | +0.8% | +10.21% | Add |
| 5 | VCSH | Vanguard S/t CORP Bond ETF | +0.8% | +15.17% | Add |
| 6 | VGT | Vanguard Info Tech ETF | +0.7% | +700.00% | Add |
| 7 | QQQ | Invesco Qqq Trust Series 1 | +0.7% | +2.63% | Add |
| 8 | CIBR | First Trust Nasdaq Cybersecu | +0.6% | -8.86% | Trim |
| 9 | QAI | Nyli Hdg Multi-str Trk ETF | +0.5% | +7.04% | Add |
| 10 | CAT | Caterpillar Inc | +0.4% | +2.72% | Add |
| 11 | AMZN | Amazon.com Inc | +0.4% | -1.36% | Trim |
| 12 | VCIT | Vanguard Int-term Corporate | +0.3% | +458.22% | Add |
| 13 | VWOB | Vanguard Emerg Mkts Gov Bnd | +0.3% | -5.33% | Trim |
| 14 | PHYS | Sprott Physical Gold Trust | +0.3% | NEW | New buy |
| 15 | VGIT | Vanguard Intermediate-term T | +0.3% | +1.03% | Add |
| 16 | CWB | Ss Spdr Bb Conv Sec ETF | +0.3% | — | Unchanged |
| 17 | EFA | Ishares Msci Eafe ETF | +0.3% | — | Unchanged |
| 18 | GARP | Ishares Msci USA Quality Gar | +0.2% | NEW | New buy |
| 19 | IBDU | Ishares Ibonds Dec 2029 Term | +0.2% | -4.70% | Trim |
| 20 | IBDV | Ishares Ibonds Dec 2030 CORP | +0.2% | +2.65% | Add |
| 21 | MSFT | Microsoft CORP | +0.2% | +1.71% | Add |
| 22 | MGC | Vanguard Mega Cap ETF | +0.2% | NEW | New buy |
| 23 | GOOG | Alphabet Inc-cl C | +0.2% | +7.97% | Add |
| 24 | ESGE | Ishares Inc Ishares Esg Awar | +0.2% | — | Unchanged |
| 25 | IBDT | Ishares Ibonds Dec 2028 ETF | +0.2% | — | Unchanged |
| 26 | AAPL | Apple Inc | +0.2% | +5.65% | Add |
| 27 | GOOGL | Alphabet Inc-cl A | +0.2% | -2.78% | Trim |
| 28 | EWL | Ishares Msci Switzerland ETF | +0.2% | -6.99% | Trim |
| 29 | VO | Vanguard Mid-cap ETF | +0.1% | +342.50% | Add |
| 30 | BKNG | Booking Holdings Inc | +0.1% | +935.16% | Add |
| 31 | NVDA | Nvidia CORP | +0.1% | +4.80% | Add |
| 32 | SCHF | Schwab Intl Equity ETF | +0.1% | — | Unchanged |
| 33 | JPM | Jpmorgan Chase & Co | +0.1% | +13.92% | Add |
| 34 | EWC | Ishares Msci Canada ETF | +0.1% | NEW | New buy |
| 35 | EMXC | Ishares Msci Emr Mrk Ex Chna | +0.1% | +12.49% | Add |
| 36 | VHT | Vanguard Health Care ETF | +0.1% | — | Unchanged |
| 37 | SJNK | Ss Spdr Bb St Hi Yield ETF | +0.1% | -11.57% | Trim |
| 38 | XLI | Ss Industrial Select Sector | +0.1% | — | Unchanged |
| 39 | IWM | Ishares Russell 2000 ETF | +0.1% | +31.07% | Add |
| 40 | INTC | Intel CORP | +0.1% | — | Unchanged |
| 41 | XLK | Ss Technology Select Sector | +0.1% | — | Unchanged |
| 42 | EWU | Ishares Msci United Kingdom | +0.1% | — | Unchanged |
| 43 | HEWJ | Isha Curr Hedged Msci Japan | +0.1% | — | Unchanged |
| 44 | QLTA | Ishares Aaa - A Rated Corpor | +0.1% | -9.27% | Trim |
| 45 | GDXJ | Vaneck Junior Gold Miners | +0.1% | NEW | New buy |
| 46 | XNTK | Ss Spdr Nyse Tech ETF | +0.1% | NEW | New buy |
| 47 | ACWI | Ishares Msci Acwi ETF | +0.1% | NEW | New buy |
| 48 | FEP | First Trust Europe | +0.1% | NEW | New buy |
| 49 | HEEM | Ishares Crncy Hedgd Msci Em | +0.1% | NEW | New buy |
| 50 | AIA | Ishares Asia 50 ETF | +0.1% | NEW | New buy |
1–50 of 200
Filing History
FAQ
What is LFA - Lugano Financial Advisors SA and what type of investor is it?
LFA - Lugano Financial Advisors SA is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $166.2M, spread across 274 disclosed positions.
What are LFA - Lugano Financial Advisors SA's largest equity positions?
Based on the latest 13F filing, LFA - Lugano Financial Advisors SA's top holdings by market value are:
1. Ss Spdr S&p 500 ETF Trust-us (SPY) — $37.5M (22.6%)
2. Schwab Fndmntl Em Mrk Eq ETF (FNDE) — $13.0M (7.8%)
3. Spdr Gold Shares (GLD) — $8.1M (4.9%)
4. Ishares 5-10y Inv Grade CORP (IGIB) — $5.7M (3.4%)
5. Vanguard S/t CORP Bond ETF (VCSH) — $5.1M (3.1%)
What changes did LFA - Lugano Financial Advisors SA make in its most recent portfolio filing?
In the latest reported quarter, LFA - Lugano Financial Advisors SA made 131 notable position adjustments: 56 new positions were initiated, 39 existing holdings were added to, 24 positions were partially reduced, and 12 were completely exited. The largest of these moves: Sold out: Ishares Trust Ishares Esg Aw (ESGD); Sold out: Ishares Esg Aware 1-5 Year U (SUSB); Sold out: Ishares 7-10 Year Treasury B (IEF); Sold out: Global X Renewable Ener Prod (RNRG); New buy: Sprott Physical Gold Trust (PHYS)
What sectors does LFA - Lugano Financial Advisors SA focus on?
LFA - Lugano Financial Advisors SA is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 30.9%
• Consumer Discretionary: 19.3%
• Financials: 13.5%
• Communication Services: 12.1%
• Industrials: 10.0%
• Health Care: 6.5%
Investment Profile
LFA - Lugano Financial Advisors SA returned an annualized 14.4% over the trailing 36 months — outperforming the S&P 500 by 2.1 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.59 (less volatile than the market) and a 39% quarterly batting average against the index.
Its portfolio is broadly diversified and long-term-holding, with 30.9% of the portfolio concentrated in Information Technology.
It has added to its SPY position over the past two quarters (+$11.0M, now $37.5M), while trimming SDVY over the same stretch (-$4.1M, still holding $27.6K).
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Developer Access
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