JNBA FINANCIAL ADVISORS

Filed: 10/28/2025ACC: 0001569118-25-000009

📋 What this filing means

JNBA FINANCIAL ADVISORS filed this quarterly 13F‑HR report disclosing 651 equity positions with a total reported market value of $1.10B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

651

Positions

$1.10B

Total AUM (reported)

12.52M

Total Shares

Allocation by class

CORE S&P500 ETF$235.98M21.4%

COM$122.63M11.1%

PORTFOLIO DEVLPD$89.71M8.2%

CORE S&P MCP ETF$51.12M4.6%

PORTFOLIO S&P400$49.24M4.5%

GROWTH ETF$45.35M4.1%

MRNGSTR WDE MOAT$37.94M3.4%

Portfolio Concentration

Top 3$376.81M34.2%

4–10$247.49M22.5%

11–25$213.69M19.4%

Rest$262.62M23.9%

Top 3 weight

34.2%

Top 10 weight

56.7%

Voting Authority Distribution

Total shares with voting rights: 12.52M

Sole

Full voting authority

0.00

% of voting shares0.0%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

12.52M

% of voting shares100.0%

Investment Discretion (by position count)

Sole651

Shared0

Other0

Dominant voting typeNone · 100.0% of voting shares

Institutional Holdings651

Rows:

ISHARES TR

SOLE

CORE S&P500 ETF

Shares352.58K

TypeSH

Market value$235.98M

21.44%

Sole

0.00

Shared

0.00

None

352.58K

SPDR INDEX SHS FDS

SOLE

PORTFOLIO DEVLPD

Shares2.10M

TypeSH

Market value$89.71M

8.15%

Sole

0.00

Shared

0.00

None

2.10M

ISHARES TR

SOLE

CORE S&P MCP ETF

Shares783.30K

TypeSH

Market value$51.12M

4.64%

Sole

0.00

Shared

0.00

None

783.30K

SPDR SERIES TRUST

SOLE

PORTFOLIO S&P400

Shares860.99K

TypeSH

Market value$49.24M

4.47%

Sole

0.00

Shared

0.00

None

860.99K

VANGUARD INDEX FDS

SOLE

GROWTH ETF

Shares94.57K

TypeSH

Market value$45.35M

4.12%

Sole

0.00

Shared

0.00

None

94.57K

VANECK ETF TRUST

SOLE

MRNGSTR WDE MOAT

Shares382.79K

TypeSH

Market value$37.94M

3.45%

Sole

0.00

Shared

0.00

None

382.79K

SPDR INDEX SHS FDS

SOLE

PORTFOLIO EMG MK

Shares793.68K

TypeSH

Market value$37.15M

3.38%

Sole

0.00

Shared

0.00

None

793.68K

VANGUARD TAX-MANAGED FDS

SOLE

VAN FTSE DEV MKT

Shares470.99K

TypeSH

Market value$28.22M

2.56%

Sole

0.00

Shared

0.00

None

470.99K

SPDR SERIES TRUST

SOLE

PRTFLO S&P500 GW

Shares243.17K

TypeSH

Market value$25.41M

2.31%

Sole

0.00

Shared

0.00

None

243.17K

AFLAC INC

SOLE

COM

Shares216.41K

TypeSH

Market value$24.17M

2.20%

Sole

0.00

Shared

0.00

None

216.41K

VANGUARD SPECIALIZED FUNDS

SOLE

DIV APP ETF

Shares96.80K

TypeSH

Market value$20.89M

1.90%

Sole

0.00

Shared

0.00

None

96.80K

VANGUARD INDEX FDS

SOLE

LARGE CAP ETF

Shares63.06K

TypeSH

Market value$19.41M

1.76%

Sole

0.00

Shared

0.00

None

63.06K

SCHWAB STRATEGIC TR

SOLE

FUNDAMENTAL INTL

Shares391.73K

TypeSH

Market value$16.83M

1.53%

Sole

0.00

Shared

0.00

None

391.73K

MICROSOFT CORP

SOLE

COM

Shares32.35K

TypeSH

Market value$16.75M

1.52%

Sole

0.00

Shared

0.00

None

32.35K

VANGUARD INTL EQUITY INDEX F

SOLE

FTSE EMR MKT ETF

Shares302.61K

TypeSH

Market value$16.40M

1.49%

Sole

0.00

Shared

0.00

None

302.61K

API GROUP CORP

SOLE

COM STK

Shares471.90K

TypeSH

Market value$16.22M

1.47%

Sole

0.00

Shared

0.00

None

471.90K

INVESCO EXCHANGE TRADED FD T

SOLE

S&P500 QUALITY

Shares217.94K

TypeSH

Market value$15.97M

1.45%

Sole

0.00

Shared

0.00

None

217.94K

SPDR SERIES TRUST

SOLE

PORTFOLIO S&P600

Shares335.57K

TypeSH

Market value$15.54M

1.41%

Sole

0.00

Shared

0.00

None

335.57K

VANGUARD INDEX FDS

SOLE

MID CAP ETF

Shares50.77K

TypeSH

Market value$14.91M

1.36%

Sole

0.00

Shared

0.00

None

50.77K

ISHARES TR

SOLE

CORE S&P SCP ETF

Shares103.87K

TypeSH

Market value$12.34M

1.12%

Sole

0.00

Shared

0.00

None

103.87K

INVESCO EXCHANGE TRADED FD T

SOLE

RAFI US 1000 ETF

Shares236.34K

TypeSH

Market value$10.68M

0.97%

Sole

0.00

Shared

0.00

None

236.34K

ISHARES GOLD TR

SOLE

ISHARES NEW

Shares146.78K

TypeSH

Market value$10.68M

0.97%

Sole

0.00

Shared

0.00

None

146.78K

SPDR SERIES TRUST

SOLE

S&P 400 MDCP GRW

Shares101.54K

TypeSH

Market value$9.30M

0.84%

Sole

0.00

Shared

0.00

None

101.54K

VANGUARD WHITEHALL FDS

SOLE

INTL DVD ETF

Shares101.83K

TypeSH

Market value$9.12M

0.83%

Sole

0.00

Shared

0.00

None

101.83K

SPDR SERIES TRUST

SOLE

S&P 400 MDCP VAL

Shares103.47K

TypeSH

Market value$8.63M

0.78%

Sole

0.00

Shared

0.00

None

103.47K

Issuer	Class	Shares	Type	Value / Portfolio %	None
ISHARES TRSOLE	CORE S&P500 ETF	352.58K	SH	$235.98M 21.44%	352.58K
SPDR INDEX SHS FDSSOLE	PORTFOLIO DEVLPD	2.10M	SH	$89.71M 8.15%	2.10M
ISHARES TRSOLE	CORE S&P MCP ETF	783.30K	SH	$51.12M 4.64%	783.30K
SPDR SERIES TRUSTSOLE	PORTFOLIO S&P400	860.99K	SH	$49.24M 4.47%	860.99K
VANGUARD INDEX FDSSOLE	GROWTH ETF	94.57K	SH	$45.35M 4.12%	94.57K
VANECK ETF TRUSTSOLE	MRNGSTR WDE MOAT	382.79K	SH	$37.94M 3.45%	382.79K
SPDR INDEX SHS FDSSOLE	PORTFOLIO EMG MK	793.68K	SH	$37.15M 3.38%	793.68K
VANGUARD TAX-MANAGED FDSSOLE	VAN FTSE DEV MKT	470.99K	SH	$28.22M 2.56%	470.99K
SPDR SERIES TRUSTSOLE	PRTFLO S&P500 GW	243.17K	SH	$25.41M 2.31%	243.17K
AFLAC INCSOLE	COM	216.41K	SH	$24.17M 2.20%	216.41K
VANGUARD SPECIALIZED FUNDSSOLE	DIV APP ETF	96.80K	SH	$20.89M 1.90%	96.80K
VANGUARD INDEX FDSSOLE	LARGE CAP ETF	63.06K	SH	$19.41M 1.76%	63.06K
SCHWAB STRATEGIC TRSOLE	FUNDAMENTAL INTL	391.73K	SH	$16.83M 1.53%	391.73K
MICROSOFT CORPSOLE	COM	32.35K	SH	$16.75M 1.52%	32.35K
VANGUARD INTL EQUITY INDEX FSOLE	FTSE EMR MKT ETF	302.61K	SH	$16.40M 1.49%	302.61K
API GROUP CORPSOLE	COM STK	471.90K	SH	$16.22M 1.47%	471.90K
INVESCO EXCHANGE TRADED FD TSOLE	S&P500 QUALITY	217.94K	SH	$15.97M 1.45%	217.94K
SPDR SERIES TRUSTSOLE	PORTFOLIO S&P600	335.57K	SH	$15.54M 1.41%	335.57K
VANGUARD INDEX FDSSOLE	MID CAP ETF	50.77K	SH	$14.91M 1.36%	50.77K
ISHARES TRSOLE	CORE S&P SCP ETF	103.87K	SH	$12.34M 1.12%	103.87K
INVESCO EXCHANGE TRADED FD TSOLE	RAFI US 1000 ETF	236.34K	SH	$10.68M 0.97%	236.34K
ISHARES GOLD TRSOLE	ISHARES NEW	146.78K	SH	$10.68M 0.97%	146.78K
SPDR SERIES TRUSTSOLE	S&P 400 MDCP GRW	101.54K	SH	$9.30M 0.84%	101.54K
VANGUARD WHITEHALL FDSSOLE	INTL DVD ETF	101.83K	SH	$9.12M 0.83%	101.83K
SPDR SERIES TRUSTSOLE	S&P 400 MDCP VAL	103.47K	SH	$8.63M 0.78%	103.47K

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