Financial Perspectives, Inc

MINNEAPOLIS, MN · CIK 2003287 · 13F filing filed 2025-07-30

SEC-registered investment adviser since 2015 · corporation

Assets managed$1.2bn
Staff14 · 14 in investment roles
Main clients (by assets)High net worth individuals 90%, Individuals 10%
Websitefpwealth.com
Form ADV · 2026-03-25SEC adviser record

$330.8m reported value +13.2% vs Q1 2025

724positions

42.4%in top 10

13 new 186 added 50 reduced 13 sold out vs Q1 2025

Holdings, Q2 2025

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	MEDTRONIC PLC SHS MDT	MDT	218,918	$19.1m5.77%	5.77%	Reduced -4.1k	-4,061 -1.8%
2	VANGUARD WORLD FD INF TECH ETF VGT	VGT	28,602	$19.0m5.74%	5.74%	Added +995	+995 3.6%
3	VANGUARD WHITEHALL FDS HIGH DIV YLD VYM	VYM	140,178	$18.7m5.65%	5.65%	Added +4.5k	+4,545 3.4%
4	MICROSOFT CORP COM MSFT	MSFT	33,659	$16.7m5.06%	5.06%	Added +549	+549 1.7%
5	BOSTON SCIENTIFIC CORP COM BSX	BSX	134,150	$14.4m4.36%	4.36%	Reduced -3.0k	-3,042 -2.2%
6	APPLE INC COM AAPL	AAPL	65,042	$13.3m4.03%	4.03%	Added +1.3k	+1,335 2.1%
7	ISHARES TR S&P 500 GRWT ETF IVW	IVW	94,664	$10.4m3.15%	3.15%	Added +2.0k	+2,008 2.2%
8	VANGUARD WHITEHALL FDS INTL HIGH ETF VYMI	VYMI	120,120	$9.6m2.91%	2.91%	Added +11.7k	+11,710 10.8%
9	VANGUARD WHITEHALL FDS INTL DVD ETF VIGI	VIGI	104,910	$9.5m2.86%	2.86%	Added +2.0k	+1,993 1.9%
10	VANGUARD SPECIALIZED FUNDS DIV APP ETF VIG	VIG	46,121	$9.4m2.85%	2.85%	Added +3.1k	+3,105 7.2%
11	BROADCOM INC COM AVGO	AVGO	33,038	$9.1m2.75%	2.75%	Added +327	+327 1.0%
12	ISHARES TR CORE HIGH DV ETF HDV	HDV	71,852	$8.4m2.55%	2.55%	Added +1.2k	+1,180 1.7%
13	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	35,512	$8.0m2.43%	2.43%	Added +3.8k	+3,793 12.0%
14	NVIDIA CORPORATION COM NVDA	NVDA	45,777	$7.2m2.19%	2.19%	Reduced -181	-181 -0.4%
15	FIDELITY COVINGTON TRUST CONSMR STAPLES FSTA	FSTA	119,747	$6.1m1.85%	1.85%	Added +5.3k	+5,328 4.7%
16	FIDELITY COVINGTON TRUST MSCI INFO TECH I FTEC	FTEC	28,454	$5.6m1.70%	1.70%	Added +312	+312 1.1%
17	ALPHABET INC CAP STK CL C GOOG	GOOG	28,167	$5.0m1.51%	1.51%	Added +639	+639 2.3%
18	AMAZON COM INC COM AMZN	AMZN	22,559	$4.9m1.50%	1.50%	Added +1.8k	+1,774 8.5%
19	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	7,140	$4.4m1.33%	1.33%	Added +228	+228 3.3%
20	ISHARES TR CORE S&P500 ETF IVV	IVV	6,948	$4.3m1.30%	1.30%	Added +348	+348 5.3%
21	ISHARES TR CORE DIV GRWTH DGRO	DGRO	62,143	$4.0m1.20%	1.20%	Added +6.3k	+6,256 11.2%
22	MERCADOLIBRE INC COM MELI	MELI	1,323	$3.5m1.04%	1.04%	Reduced -106	-106 -7.4%
23	META PLATFORMS INC CL A META	META	4,479	$3.3m1.00%	1.00%	Added +267	+267 6.3%
24	VANGUARD WORLD FD CONSUM STP ETF VDC	VDC	12,895	$2.8m0.85%	0.85%	Added +1.3k	+1,263 10.9%
25	JPMORGAN CHASE & CO COM JPM	JPM	9,719	$2.8m0.85%	0.85%	Added +4	+4 0.0%
26	VANGUARD INDEX FDS S&P 500 ETF SHS VOO	VOO	4,665	$2.6m0.80%	0.80%	Reduced -1.3k	-1,321 -22.1%
27	TESLA INC COM TSLA	TSLA	8,238	$2.6m0.79%	0.79%	Reduced -419	-419 -4.8%
28	ABBVIE INC COM ABBV	ABBV	13,138	$2.4m0.74%	0.74%	Added +3	+3 0.0%
29	J P MORGAN EXCHANGE TRADED F ULTRA SHRT ETF JPST	JPST	47,794	$2.4m0.73%	0.73%	Reduced -5.4k	-5,358 -10.1%
30	SHOPIFY INC CL A SUB VTG SHS SHOP	SHOP	18,921	$2.2m0.66%	0.66%	Added +699	+699 3.8%
31	ISHARES TR U.S. TECH ETF IYW	IYW	12,461	$2.2m0.65%	0.65%	Added +394	+394 3.3%
32	SEA LTD SPONSORD ADS SE	SE	13,354	$2.1m0.65%	0.65%	Added +72	+72 0.5%
33	3M CO COM MMM	MMM	14,026	$2.1m0.65%	0.65%	Added +2	+2 0.0%
34	ISHARES TR INTL SEL DIV ETF IDV	IDV	59,077	$2.0m0.62%	0.62%	Added +348	+348 0.6%
35	CAPITAL GROUP GROWTH ETF SHS CREATION UNI CGGR	CGGR	48,964	$2.0m0.60%	0.60%	Added +656	+656 1.4%
36	CAPITAL GROUP GBL GROWTH EQT SHS CREATION UNI CGGO	CGGO	56,498	$1.8m0.55%	0.55%	Added +5.1k	+5,134 10.0%
37	INVESCO QQQ TR UNIT SER 1 QQQ	QQQ	3,165	$1.7m0.53%	0.53%	Added +328	+328 11.6%
38	ASML HOLDING N V N Y REGISTRY SHS ASML	ASML	1,928	$1.5m0.47%	0.47%	Added +211	+211 12.3%
39	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	3,146	$1.5m0.46%	0.46%	Added +348	+348 12.4%
40	SCHWAB STRATEGIC TR US DIVIDEND EQ SCHD	SCHD	54,257	$1.4m0.43%	0.43%	Added +26.1k	+26,072 92.5%
41	ISHARES TR RUS 1000 GRW ETF IWF	IWF	3,343	$1.4m0.43%	0.43%	Added +82	+82 2.5%
42	UNITEDHEALTH GROUP INC COM UNH	UNH	4,355	$1.4m0.41%	0.41%	Reduced -106	-106 -2.4%
43	FIDELITY COVINGTON TRUST MSCI ENERGY IDX FENY	FENY	57,116	$1.3m0.40%	0.40%	Added +2.3k	+2,310 4.2%
44	JOHNSON & JOHNSON COM JNJ	JNJ	7,865	$1.2m0.36%	0.36%	Reduced -120	-120 -1.5%
45	VANGUARD INDEX FDS VALUE ETF VTV	VTV	6,667	$1.2m0.36%	0.36%	Unchanged
46	ABBOTT LABS COM ABT	ABT	8,468	$1.2m0.35%	0.35%	Unchanged
47	COSTCO WHSL CORP NEW COM COST	COST	1,120	$1.1m0.34%	0.34%	Unchanged
48	ISHARES U S ETF TR U.S. TECH INDEPD IETC	IETC	10,708	$1.0m0.30%	0.30%	Added +463	+463 4.5%
49	AMGEN INC COM AMGN	AMGN	3,578	$998.9k0.30%	0.30%	Added +2	+2 0.1%
50	ORACLE CORP COM ORCL	ORCL	4,534	$991.4k0.30%	0.30%	Unchanged
51	VANGUARD TAX-MANAGED FDS VAN FTSE DEV MKT VEA	VEA	17,255	$983.7k0.30%	0.30%	Added +58	+58 0.3%
52	SCHWAB STRATEGIC TR FUNDAMENTAL INTL FNDF	FNDF	24,230	$969.7k0.29%	0.29%	Unchanged
53	GENERAL MLS INC COM GIS	GIS	18,262	$946.2k0.29%	0.29%	Unchanged
54	FIRST TR EXCHANGE TRADED FD NASD TECH DIV TDIV	TDIV	10,368	$934.9k0.28%	0.28%	Added +683	+683 7.0%
55	US BANCORP DEL COM NEW USB	USB	20,162	$912.3k0.28%	0.28%	Added +25	+25 0.1%
56	GILEAD SCIENCES INC COM GILD	GILD	8,054	$893.0k0.27%	0.27%	Unchanged
57	ISHARES TR RUSSELL 2000 ETF IWM	IWM	3,884	$838.0k0.25%	0.25%	Added +703	+703 22.1%
58	HDFC BANK LTD SPONSORED ADS HDB	HDB	10,769	$825.7k0.25%	0.25%	Added +136	+136 1.3%
59	VANGUARD WORLD FD HEALTH CAR ETF VHT	VHT	3,313	$822.8k0.25%	0.25%	Added +2	+2 0.1%
60	VANGUARD INDEX FDS REAL ESTATE ETF VNQ	VNQ	9,222	$821.3k0.25%	0.25%	Reduced -283	-283 -3.0%
61	VANGUARD WORLD FD ENERGY ETF VDE	VDE	6,661	$793.5k0.24%	0.24%	Reduced -310	-310 -4.5%
62	VANGUARD WORLD FD CONSUM DIS ETF VCR	VCR	2,158	$781.9k0.24%	0.24%	Added +223	+223 11.5%
63	NOVO-NORDISK A S ADR NVO	NVO	11,256	$776.9k0.23%	0.23%	Unchanged
64	VANGUARD INDEX FDS GROWTH ETF VUG	VUG	1,746	$765.4k0.23%	0.23%	Added +744	+744 74.2%
65	VANECK ETF TRUST SEMICONDUCTR ETF SMH	SMH	2,694	$751.3k0.23%	0.23%	Added +1	+1 0.0%
66	ALPHABET INC CAP STK CL A GOOGL	GOOGL	4,096	$721.9k0.22%	0.22%	Unchanged
67	VANGUARD INDEX FDS TOTAL STK MKT VTI	VTI	2,365	$718.7k0.22%	0.22%	Added +29	+29 1.2%
68	HONEYWELL INTL INC COM COM		2,974	$692.6k0.21%	0.21%	Unchanged
69	DISNEY WALT CO COM DIS	DIS	5,583	$692.4k0.21%	0.21%	Unchanged
70	RUBRIK INC. CL A RBRK	RBRK	7,505	$672.4k0.20%	0.20%	Reduced -3.7k	-3,700 -33.0%
71	ISHARES TR US INFRASTRUC IFRA	IFRA	13,635	$670.7k0.20%	0.20%	Unchanged
72	HOME DEPOT INC COM HD	HD	1,775	$650.8k0.20%	0.20%	Added +1	+1 0.1%
73	MASTERCARD INCORPORATED CL A MA	MA	1,148	$645.4k0.20%	0.20%	Added +11	+11 1.0%
74	CAPITAL GROUP DIVIDEND VALUE SHS CREATION UNI CGDV	CGDV	16,102	$635.9k0.19%	0.19%	Added +8.2k	+8,224 104.4%
75	VANGUARD INTL EQUITY INDEX F TT WRLD ST ETF VT	VT	4,757	$611.4k0.18%	0.18%	Added +1.7k	+1,671 54.1%
76	INTUITIVE SURGICAL INC COM NEW ISRG	ISRG	1,091	$592.9k0.18%	0.18%	Unchanged
77	BROOKFIELD CORP CL A LTD VT SH BN	BN	9,494	$587.2k0.18%	0.18%	Unchanged
78	COMCAST CORP NEW CL A CMCSA	CMCSA	16,324	$582.6k0.18%	0.18%	Added +993	+993 6.5%
79	ISHARES TR EAFE VALUE ETF EFV	EFV	9,166	$581.8k0.18%	0.18%	Added +523	+523 6.0%
80	AT&T INC COM T	T	19,844	$574.3k0.17%	0.17%	Reduced -329	-329 -1.6%
81	CARRIER GLOBAL CORPORATION COM CARR	CARR	7,773	$568.9k0.17%	0.17%	Added +1.5k	+1,511 24.1%
82	SERVICENOW INC COM NOW	NOW	545	$560.3k0.17%	0.17%	Unchanged
83	ISHARES TR CORE MSCI EAFE IEFA	IEFA	6,545	$546.3k0.17%	0.17%	Added +315	+315 5.1%
84	BROOKFIELD INFRASTRUCTURE CO COM SUB VTG A BIPC	BIPC	12,858	$534.9k0.16%	0.16%	Added +6	+6 0.1%
85	ISHARES TR CORE S&P SCP ETF IJR	IJR	4,832	$528.1k0.16%	0.16%	Added +24	+24 0.5%
86	NU HLDGS LTD ORD SHS CL A NU	NU	37,517	$514.7k0.16%	0.16%	Added +4.6k	+4,598 14.0%
87	CANADIAN NAT RES LTD COM CNQ	CNQ	16,284	$511.3k0.15%	0.15%	Added +40	+40 0.2%
88	ISHARES TR MRGSTR MD CP ETF IMCB	IMCB	6,138	$489.0k0.15%	0.15%	Added +243	+243 4.1%
89	VISA INC COM CL A V	V	1,353	$480.5k0.15%	0.15%	Unchanged
90	SEMPRA COM SRE	SRE	6,255	$473.9k0.14%	0.14%	Added +198	+198 3.3%
91	ALTRIA GROUP INC COM MO	MO	8,071	$473.2k0.14%	0.14%	Added +2	+2 0.0%
92	ISHARES INC CORE MSCI EMKT IEMG	IEMG	7,798	$468.1k0.14%	0.14%	Reduced -1.1k	-1,063 -12.0%
93	GE AEROSPACE COM NEW GE	GE	1,764	$454.1k0.14%	0.14%	Added +212	+212 13.7%
94	EXXON MOBIL CORP COM XOM	XOM	4,156	$448.0k0.14%	0.14%	Reduced -449	-449 -9.8%
95	PFIZER INC COM PFE	PFE	18,314	$443.9k0.13%	0.13%	Added +26	+26 0.1%
96	ISHARES TR INTL DIV GRWTH IGRO	IGRO	5,537	$436.8k0.13%	0.13%	Added +334	+334 6.4%
97	INVESCO EXCH TRADED FD TR II S&P GBL WATER CGW	CGW	6,944	$434.0k0.13%	0.13%	Reduced -313	-313 -4.3%
98	ISHARES TR EAFE GRWTH ETF EFG	EFG	3,872	$433.6k0.13%	0.13%	Added +302	+302 8.5%
99	ELI LILLY & CO COM LLY	LLY	552	$430.3k0.13%	0.13%	Added +135	+135 32.4%
100	WISDOMTREE TR EUROPE SMCP DV DFE	DFE	5,949	$417.1k0.13%	0.13%	Added +96	+96 1.6%

Sold out since Q1 2025

Security	Ticker	Shares held before	Value then
HUMANA INC HUM	HUM	676	$178.9k676 shares
EASTERLY GOVT PPTYS INC		1,140	$12.1k1.1k shares
MORGAN STANLEY EMERGING MKTS EDD	EDD	2,354	$11.1k2.4k shares
BRANDYWINEGBL GBL INCM OPP F BWG	BWG	1,147	$9.6k1.1k shares
ISHARES TR PFF	PFF	232	$7.1k232 shares
PIMCO MUN INCOME FD III XPMQX	XPMQX	990	$7.1k990 shares
ISHARES TR AOK	AOK	155	$5.8k155 shares
ISHARES TR TIP	TIP	36	$4.0k36 shares
SPDR SER TR SPSM	SPSM	90	$3.7k90 shares
VANGUARD INDEX FDS VBR	VBR	9	$1.7k9 shares
PROSHARES TR UPRO	UPRO	22	$1.6k22 shares
EQUITY COMWLTH EQC	EQC	695	$1.1k695 shares
AMPLIFY ETF TR MJ	MJ	51	$99551 shares