FAFN

First Affirmative Financial Network Portfolio holdings

AUM $163M

2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3

This Quarter Return

+6.55%

1 Year Return

+9.9%

3 Year Return

+34.83%

5 Year Return

–

10 Year Return

–

AUM

$82.6M

AUM Growth

+$82.6M (+5.1%)

Cap. Flow

+$658K

Cap. Flow % of AUM

0.8%

Top 10 Holdings % Top 10 Hldgs %

40.39%

Holding

164

New

Increased

Reduced

Closed

Top Buys

1	Travelers Companies TRV	$310K
2	Adobe ADBE	$270K
3	Eaton ETN	$262K
4	Constellation Brands STZ	$258K
5	Bank of America BAC	$242K

Top Sells

1	SPDR Portfolio Short Term Treasury ETF SPTS	$593K
2	Vanguard Intermediate-Term Treasury ETF VGIT	$437K
3	US Bancorp USB	$366K
4	MUI BlackRock Municipal Income Fund, Inc. MUI	$364K
5	STZ.B CONSTELLATION BRANDS, INC. CLASS B STZ.B	$233K

Sector Composition

1	Technology	11.97%
2	Healthcare	10.66%
3	Financials	8.17%
4	Consumer Discretionary	5.05%
5	Real Estate	4.62%

Communication Services

Advertising Agencies

Broadcasting

Electronic Gaming & Multimedia

Entertainment

Internet Content & Information

Publishing

Telecom Services

Consumer Discretionary

Apparel Manufacturing

Apparel Retail

Auto Manufacturers

Auto Parts

Auto & Truck Dealerships

Department Stores

Footwear & Accessories

Furnishings, Fixtures & Appliances

Gambling

Home Improvement Retail

Internet Retail

Leisure

Lodging

Luxury Goods

Packaging & Containers

Personal Services

Recreational Vehicles

Residential Construction

Resorts & Casinos

Restaurants

Specialty Retail

Textile Manufacturing

Travel Services

Consumer Staples

Beverages - Brewers

Beverages - Non-Alcoholic

Beverages - Wineries & Distilleries

Confectioners

Discount Stores

Education & Training Services

Farm Products

Food Distribution

Grocery Stores

Household & Personal Products

Packaged Foods

Tobacco

Energy

Oil & Gas Drilling

Oil & Gas Equipment & Services

Oil & Gas Exploration & Production

Oil & Gas Integrated

Oil & Gas Midstream

Oil & Gas Refining & Marketing

Thermal Coal

Uranium

Financials

Asset Management

Banks - Diversified

Banks - Regional

Capital Markets

Credit Services

Diversified Insurance

Financial Conglomerates

Financial Data & Stock Exchanges

Insurance Brokers

Life Insurance

Mortgage Finance

Property & Casualty Insurance

Reinsurance

Shell Companies

Specialty - Insurance

Healthcare

Biotechnology

Diagnostics & Research

Drug Manufacturers - General

Drug Manufacturers - Specialty & Generic

Healthcare Plans

Health Information Services

Medical Care Facilities

Medical Devices

Medical Distribution

Medical Instruments & Supplies

Pharmaceutical Retailers

Industrials

Aerospace & Defense

Airlines

Airports & Air Services

Building Products & Equipment

Business Equipment & Supplies

Conglomerates

Consulting Services

Electrical Equipment & Parts

Engineering & Construction

Farm & Heavy Construction Machinery

Industrial Distribution

Infrastructure Operations

Integrated Freight & Logistics

Marine Shipping

Metal Fabrication

Pollution & Treatment Controls

Railroads

Rental & Leasing Services

Security & Protection Services

Specialty Business Services

Specialty Industrial Machinery

Staffing & Employment Services

Tools & Accessories

Trucking

Waste Management

Materials

Agricultural Inputs

Aluminum

Building Materials

Chemicals

Coking Coal

Copper

Gold

Lumber & Wood Production

Other Industrial Metals & Mining

Other Precious Metals & Mining

Paper & Paper Products

Silver

Specialty Chemicals

Steel

Real Estate

Diversified REIT

Healthcare Facilities REIT

Hotel & Motel REIT

Industrial REIT

Mortgage REIT

Office REIT

Real Estate Development

Real Estate Diversified

Real Estate Services

Residential REIT

Retail REIT

Specialty REIT

Technology

Communication Equipment

Computer Hardware

Consumer Electronics

Electronic Components

Electronics & Computer Distribution

Information Technology Services

Scientific & Technical Instruments

Semiconductor Equipment & Materials

Semiconductors

Software - Application

Software - Infrastructure

Solar

Utilities

Diversified Utilities

Electric Utilities

Gas Utilities

Independent Power Producers

Renewable Electricity

Water Utilities

#	Name	Market Value	Portfolio Weight	Shares or Principal	Shares Change %	Capital Flow
126	126 Lamb Weston LW $7.88B	$219K	0.27%	+2,450	New	+$219K
127	127 Lam Research LRCX $123B	$218K	0.26%	+518	New	+$218K
128	128 Mid-America Apartment Communities MAA $16.7B	$217K	0.26%	1,384 -194	-12%	-$30.5K
129	129 Pfizer PFE $142B	$217K	0.26%	+4,235	New	+$217K
130	130 Nike NKE $110B	$215K	0.26%	+1,841	New	+$215K
131	131 Vanguard Mega Cap Growth ETF MGK $28.6B	$214K	0.26%	1,243	–	–
132	132 IBM IBM $225B	$213K	0.26%	+1,514	New	+$213K
133	133 Aflac AFL $56.5B	$213K	0.26%	+2,957	New	+$213K
134	HTLF 134 DELISTED Heartland Financial USA, Inc. HTLF	$211K	0.26%	4,536 -178	-4%	-$8.3K
135	135 Weyerhaeuser WY $18B	$210K	0.25%	6,781 -416	-6%	-$12.9K
136	136 Xylem XYL $34.2B	$207K	0.25%	+1,873	New	+$207K
137	137 Charles Schwab SCHW $174B	$202K	0.25%	2,432 -840	-26%	-$69.9K
138	138 iShares GNMA Bond ETF GNMA $369M	$202K	0.25%	4,653 -195	-4%	-$8.48K
139	139 Royal Bank of Canada RY $204B	$201K	0.24%	+2,141	New	+$201K
140	140 Bank of Hawaii BOH $2.66B	$201K	0.24%	2,587 -171	-6%	-$13.3K
141	141 Horizon Technology Finance HRZN $297M	$188K	0.23%	16,180 +310	+2%	+$3.6K
142	142 Amcor AMCR $19.4B	$120K	0.15%	+10,090	New	+$120K
143	143 Mitsubishi UFJ Financial MUFG $174B	$105K	0.13%	15,726 +1,558	+11%	+$10.4K
144	ORAN 144 DELISTED Orange ORAN	$102K	0.12%	+10,356	New	+$102K
145	145 Mizuho Financial MFG $81.4B	$53.9K	0.07%	18,993 +2,005	+12%	+$5.69K
146	146 Itaú Unibanco ITUB $75.6B	$50.8K	0.06%	10,784 -658	-6%	-$3.1K
147	147 CEMIG Preferred Shares CIG $5.66B	$48.7K	0.06%	23,966 +7,713	+47%	+$15.7K
148	148 Lloyds Banking Group LYG $63.6B	$45K	0.05%	20,433 +3,856	+23%	+$8.48K
149	149 Telefonica TEF $30.2B	$43K	0.05%	+12,035	New	+$43K
150	VAPO 150 DELISTED Vapotherm, Inc. Common Stock VAPO	$40.5K	0.05%	+14,996	New	+$40.5K