LFASL

Lugano Financial Advisors SA (LFA) Portfolio holdings

AUM $169M

2025 Q2 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 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2

This Quarter Return

+5.31%

1 Year Return

+11.35%

3 Year Return

+31.21%

5 Year Return

+40.89%

10 Year Return

–

AUM

$137M

AUM Growth

–

Cap. Flow

+$137M

Cap. Flow % of AUM

100%

Top 10 Holdings % Top 10 Hldgs %

62.97%

Holding

135

New

135

Increased

–

Reduced

–

Closed

–

Top Buys

1	SPDR S&P 500 ETF Trust SPY	$25.7M
2	Vanguard Intermediate-Term Corporate Bond ETF VCIT	$15.4M
3	iShares JPMorgan USD Emerging Markets Bond ETF EMB	$7.8M
4	iShares 3-7 Year Treasury Bond ETF IEI	$7.12M
5	IQ ARB Merger Arbitrage ETF MNA	$7.05M

Top Sells

No sells this quarter

Sector Composition

1	Technology	2.96%
2	Financials	2.82%
3	Healthcare	2.48%
4	Communication Services	1.91%
5	Consumer Discretionary	1.64%

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
101	101 Phillips 66 PSX $54B	$80K	0.06%	+717	New	+$80K
102	102 Morgan Stanley MS $240B	$72K	0.05%	+1,401	New	+$72K
103	103 Cognizant CTSH $35.3B	$70K	0.05%	+1,124	New	+$70K
104	104 Vanguard High Dividend Yield ETF VYM $64B	$63K	0.05%	+670	New	+$63K
105	105 iShares US Industrials ETF IYJ $1.73B	$62K	0.05%	+370	New	+$62K
106	106 iShares MSCI ACWI ex US ETF ACWX $6.63B	$56K	0.04%	+1,148	New	+$56K
107	107 iShares MSCI ACWI ETF ACWI $22B	$55K	0.04%	+700	New	+$55K
108	108 T Rowe Price TROW $23.6B	$54K	0.04%	+447	New	+$54K
109	109 Medtronic MDT $119B	$53K	0.04%	+470	New	+$53K
110	110 Vanguard ESG US Stock ETF ESGV $11.1B	$51K	0.04%	+900	New	+$51K
111	111 iShares Short Treasury Bond ETF SHV $20.8B	$50K	0.04%	+456	New	+$50K
112	112 Alphabet (Google) Class C GOOG $2.58T	$47K	0.03%	+35	New	+$47K
113	113 iShares Currency Hedged MSCI Eurozone ETF HEZU $726M	$43K	0.03%	+1,350	New	+$43K
114	114 Nike NKE $114B	$33K	0.02%	+325	New	+$33K
115	115 Coca-Cola KO $297B	$31K	0.02%	+552	New	+$31K
116	116 Exelon EXC $44.1B	$27K	0.02%	+587	New	+$27K
117	117 iShares US & Intl High Yield Corp Bond ETF GHYG $176M	$26K	0.02%	+527	New	+$26K
118	118 JPMorgan Chase JPM $829B	$26K	0.02%	+190	New	+$26K
119	119 BCE BCE $23.3B	$24K	0.02%	+520	New	+$24K
120	120 Costco COST $418B	$24K	0.02%	+80	New	+$24K
121	121 Canadian National Railway CNI $60.4B	$23K	0.02%	+250	New	+$23K
122	122 WisdomTree Japan Hedged Equity Fund DXJ $3.7B	$23K	0.02%	+423	New	+$23K
123	123 Global X Robotics & Artificial Intelligence ETF BOTZ $2.84B	$22K	0.02%	+1,000	New	+$22K
124	124 Rogers Communications RCI $19.4B	$21K	0.02%	+430	New	+$21K
125	JJC 125 DELISTED iPath Series B Bloomberg Copper Subindex Total ReturnSM ETN JJC	$20K	0.01%	+460	New	+$20K