# First Affirmative Financial Network

> Institutional holdings reported to the SEC as of Q1 2026 on Form 13F. CIK 1656282. Source: https://holderbook.com/funds/1656282-first-affirmative-financial-network/

- Reported value: $257.7M
- Positions: 325
- Weight of the ten largest: 28.4%
- Filed: 2026-05-11

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| SPDR SERIES TRUST | [SHE](https://holderbook.com/stocks/SHE/) | $14.0M | 109,662 | 5.4% | 2 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $9.5M | 54,415 | 3.7% | 18 |
| SPDR SERIES TRUST | [SPTS](https://holderbook.com/stocks/SPTS/) | $8.5M | 292,062 | 3.3% | 18 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $8.3M | 32,778 | 3.2% | 18 |
| VANGUARD SCOTTSDALE FDS | [VGIT](https://holderbook.com/stocks/VGIT/) | $6.5M | 109,307 | 2.5% | 18 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $6.1M | 16,435 | 2.4% | 18 |
| AMERICAN CENTY ETF TR | [TAXF](https://holderbook.com/stocks/TAXF/) | $5.9M | 117,918 | 2.3% | 18 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $5.0M | 17,343 | 1.9% | 18 |
| VANGUARD WELLINGTON FD | [VTES](https://holderbook.com/stocks/VTES/) | $4.7M | 46,945 | 1.8% | 2 |
| VANGUARD MUN BD FDS | [VTEB](https://holderbook.com/stocks/VTEB/) | $4.5M | 90,921 | 1.8% | 16 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $4.5M | 13,384 | 1.8% | 18 |
| ISHARES TR | [DSI](https://holderbook.com/stocks/DSI/) | $4.1M | 33,981 | 1.6% | 18 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $3.9M | 13,549 | 1.5% | 18 |
| TIDAL TRUST I | [JSTC](https://holderbook.com/stocks/JSTC/) | $3.6M | 182,844 | 1.4% | 3 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $2.9M | 37,241 | 1.1% | 18 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $2.8M | 13,459 | 1.1% | 18 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $2.8M | 5,538 | 1.1% | 16 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $2.6M | 8,520 | 1.0% | 11 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $2.4M | 7,836 | 0.9% | 18 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $2.4M | 6,911 | 0.9% | 18 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $2.3M | 15,911 | 0.9% | 18 |
| ASML HLDG NV | [ASML](https://holderbook.com/stocks/ASML/) | $2.1M | 1,562 | 0.8% | 18 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $2.0M | 20,865 | 0.8% | 11 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $1.9M | 6,358 | 0.7% | 18 |
| NOVARTIS AG | [NVS](https://holderbook.com/stocks/NVS/) | $1.9M | 12,575 | 0.7% | 18 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $1.8M | 7,524 | 0.7% | 18 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $1.7M | 1,848 | 0.7% | 17 |
| CHUNGHWA TELECOM CO LTD | [CHT](https://holderbook.com/stocks/CHT/) | $1.7M | 39,508 | 0.6% | 14 |
| PIMCO ETF TR | [EMNT](https://holderbook.com/stocks/EMNT/) | $1.6M | 16,263 | 0.6% | 18 |
| SAP SE | [SAP](https://holderbook.com/stocks/SAP/) | $1.6M | 9,383 | 0.6% | 18 |
| ASTRAZENECA PLC | [AZN](https://holderbook.com/stocks/AZN/) | $1.5M | 7,477 | 0.6% | 1 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $1.4M | 2,456 | 0.5% | 18 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $1.3M | 6,630 | 0.5% | 9 |
| PROSHARES TR | [TBX](https://holderbook.com/stocks/TBX/) | $1.3M | 47,019 | 0.5% | 18 |
| LAM RESEARCH CORP | [LRCX](https://holderbook.com/stocks/LRCX/) | $1.3M | 6,111 | 0.5% | 5 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $1.3M | 10,609 | 0.5% | 18 |
| EA SERIES TRUST | [CHGX](https://holderbook.com/stocks/CHGX/) | $1.2M | 45,517 | 0.5% | 3 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $1.2M | 5,527 | 0.5% | 18 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $1.2M | 15,436 | 0.5% | 9 |
| STRYKER CORPORATION | [SYK](https://holderbook.com/stocks/SYK/) | $1.2M | 3,514 | 0.4% | 18 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $1.2M | 1,155 | 0.4% | 14 |
| ANALOG DEVICES INC | [ADI](https://holderbook.com/stocks/ADI/) | $1.1M | 3,591 | 0.4% | 11 |
| UNILEVER PLC | [UL](https://holderbook.com/stocks/UL/) | $1.1M | 19,862 | 0.4% | 1 |
| WABTEC | [WAB](https://holderbook.com/stocks/WAB/) | $1.1M | 4,405 | 0.4% | 10 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $1.1M | 3,194 | 0.4% | 9 |
| DANAHER CORP DEL | [DHR](https://holderbook.com/stocks/DHR/) | $1.1M | 5,582 | 0.4% | 18 |
| EQUINIX INC | [EQIX](https://holderbook.com/stocks/EQIX/) | $1.0M | 1,067 | 0.4% | 18 |
| TAKEDA PHARMACEUTICAL CO LTD | [TAK](https://holderbook.com/stocks/TAK/) | $1.0M | 56,101 | 0.4% | 6 |
| TOYOTA MOTOR CORP | [TM](https://holderbook.com/stocks/TM/) | $1.0M | 4,949 | 0.4% | 18 |
| ASE TECHNOLOGY HLDG CO LTD | [ASX](https://holderbook.com/stocks/ASX/) | $1.0M | 46,554 | 0.4% | 12 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $986.7K | 2,654 | 0.4% | 18 |
| SALESFORCE INC | [CRM](https://holderbook.com/stocks/CRM/) | $964.9K | 5,169 | 0.4% | 10 |
| CME GROUP INC | [CME](https://holderbook.com/stocks/CME/) | $938.9K | 3,179 | 0.4% | 11 |
| LINDE PLC | [LIN](https://holderbook.com/stocks/LIN/) | $935.3K | 1,887 | 0.4% | 12 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $930.8K | 1,894 | 0.4% | 18 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $908.0K | 6,172 | 0.4% | 12 |
| REALTY INCOME CORP | [O](https://holderbook.com/stocks/O/) | $904.0K | 14,776 | 0.4% | 18 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $898.1K | 2,731 | 0.3% | 18 |
| INTUITIVE SURGICAL INC | [ISRG](https://holderbook.com/stocks/ISRG/) | $896.4K | 1,944 | 0.3% | 13 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $872.3K | 3,599 | 0.3% | 13 |
| AMERICAN WTR WKS CO INC NEW | [AWK](https://holderbook.com/stocks/AWK/) | $851.3K | 6,256 | 0.3% | 18 |
| ISHARES TR | [SUB](https://holderbook.com/stocks/SUB/) | $850.1K | 7,982 | 0.3% | 18 |
| AUTOMATIC DATA PROCESSING IN | [ADP](https://holderbook.com/stocks/ADP/) | $833.4K | 4,102 | 0.3% | 18 |
| CHUBB LIMITED | [CB](https://holderbook.com/stocks/CB/) | $812.0K | 2,491 | 0.3% | 18 |
| AMGEN INC | [AMGN](https://holderbook.com/stocks/AMGN/) | $810.0K | 2,302 | 0.3% | 10 |
| PALO ALTO NETWORKS INC | [PANW](https://holderbook.com/stocks/PANW/) | $807.8K | 5,039 | 0.3% | 18 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $793.0K | 5,107 | 0.3% | 10 |
| JOHNSON CONTROLS INTERNATION | [JCI](https://holderbook.com/stocks/JCI/) | $792.5K | 6,052 | 0.3% | 18 |
| TRANE TECHNOLOGIES PLC | [TT](https://holderbook.com/stocks/TT/) | $780.3K | 1,872 | 0.3% | 11 |
| AT&T INC | [T](https://holderbook.com/stocks/T/) | $773.7K | 26,687 | 0.3% | 8 |
| ARES CAPITAL CORP | [ARCC](https://holderbook.com/stocks/ARCC/) | $769.1K | 42,679 | 0.3% | 6 |
| TELUS CORPORATION | [TU](https://holderbook.com/stocks/TU/) | $762.3K | 59,412 | 0.3% | 11 |
| PRUDENTIAL PLC | [PUK](https://holderbook.com/stocks/PUK/) | $751.8K | 26,443 | 0.3% | 6 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $741.6K | 2,521 | 0.3% | 11 |
| TJX COS INC NEW | [TJX](https://holderbook.com/stocks/TJX/) | $741.2K | 4,641 | 0.3% | 14 |
| NEW YORK LIFE INVTS ACTIVE E | [CPLB](https://holderbook.com/stocks/CPLB/) | $731.2K | 34,853 | 0.3% | 3 |
| SPDR SERIES TRUST | [SHM](https://holderbook.com/stocks/SHM/) | $724.9K | 15,156 | 0.3% | 18 |
| KLA CORP | [KLAC](https://holderbook.com/stocks/KLAC/) | $716.5K | 487 | 0.3% | 7 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $716.3K | 5,764 | 0.3% | 6 |
| ING GROEP N.V. | [ING](https://holderbook.com/stocks/ING/) | $716.2K | 27,495 | 0.3% | 6 |
| ILLINOIS TOOL WKS INC | [ITW](https://holderbook.com/stocks/ITW/) | $716.2K | 2,751 | 0.3% | 18 |
| TE CONNECTIVITY PLC | [TEL](https://holderbook.com/stocks/TEL/) | $713.0K | 3,411 | 0.3% | 6 |
| CANADIAN PACIFIC KANSAS CITY | [CP](https://holderbook.com/stocks/CP/) | $690.1K | 8,774 | 0.3% | 11 |
| NOKIA CORP | [NOK](https://holderbook.com/stocks/NOK/) | $657.4K | 81,765 | 0.3% | 12 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $653.1K | 6,362 | 0.3% | 18 |
| INTUIT | [INTU](https://holderbook.com/stocks/INTU/) | $647.4K | 1,497 | 0.3% | 18 |
| WELLTOWER INC | [WELL](https://holderbook.com/stocks/WELL/) | $647.2K | 3,273 | 0.3% | 6 |
| COMCAST CORP NEW | [CMCSA](https://holderbook.com/stocks/CMCSA/) | $642.1K | 22,365 | 0.2% | 12 |
| GRUPO CIBEST SA | [CIB](https://holderbook.com/stocks/CIB/) | $641.4K | 8,810 | 0.2% | 3 |
| CANADIAN NATL RY CO | [CNI](https://holderbook.com/stocks/CNI/) | $635.7K | 6,186 | 0.2% | 18 |
| ECOLAB INC | [ECL](https://holderbook.com/stocks/ECL/) | $634.9K | 2,387 | 0.2% | 18 |
| T-MOBILE US INC | [TMUS](https://holderbook.com/stocks/TMUS/) | $626.9K | 2,985 | 0.2% | 8 |
| BANK NOVA SCOTIA B C | [BNS](https://holderbook.com/stocks/BNS/) | $626.5K | 9,039 | 0.2% | 12 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $623.2K | 12,414 | 0.2% | 18 |
| DEERE & CO | [DE](https://holderbook.com/stocks/DE/) | $618.8K | 1,099 | 0.2% | 7 |
| DELL TECHNOLOGIES INC | [DELL](https://holderbook.com/stocks/DELL/) | $613.7K | 3,739 | 0.2% | 3 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $606.7K | 6,295 | 0.2% | 18 |
| BOOKING HOLDINGS INC | [BKNG](https://holderbook.com/stocks/BKNG/) | $601.3K | 143 | 0.2% | 13 |
| LOWES COS INC | [LOW](https://holderbook.com/stocks/LOW/) | $599.7K | 2,538 | 0.2% | 18 |
| QUALCOMM INC | [QCOM](https://holderbook.com/stocks/QCOM/) | $596.4K | 4,631 | 0.2% | 12 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q4 2025 | +2.7% | +2.4% | +0.4% | 100% |
| Q3 2025 | +5.5% | +7.8% | -2.3% | 100% |
| Q2 2025 | +8.4% | +10.5% | -2.1% | 99% |
| Q1 2025 | -2.2% | -4.6% | +2.4% | 100% |
| Q4 2024 | -1.8% | +2.1% | -3.9% | 100% |
| Q3 2024 | +5.5% | +5.4% | +0.0% | 100% |
| Q2 2024 | +1.7% | +4.0% | -2.3% | 100% |
| Q1 2024 | +6.7% | +10.0% | -3.3% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q1 2026 | $257.7M | 325 |
| Q3 2025 | $212.5M | 296 |
| Q2 2025 | $194.5M | 279 |
| Q1 2025 | $163.2M | 269 |
| Q4 2024 | $173.3M | 269 |
| Q3 2024 | $182.7M | 284 |
| Q2 2024 | $144.1M | 261 |
| Q1 2024 | $135.7M | 254 |
| Q4 2023 | $125.2M | 242 |
| Q3 2023 | $102.2M | 214 |
| Q2 2023 | $100.1M | 199 |
| Q1 2023 | $86.4M | 163 |