AAF Wealth Management, LLC

Registered adviser

CIK

1726609

Location

WESTBOROUGH, MA

Portfolio Value

Small $271,126,781

Diversification

Highly concentrated

Reports for

Madison Asset Management, LLC MORGAN STANLEY SCHAFER CULLEN CAPITAL MANAGEMENT INC 55I, LLC

Filing Date

Global Rank

#5,401 / 8,811 ▲ 1632

Top Industry

Asset Management 63.1%

Period ended 4 months ago

Filed Jul 17, 2026 · 3mo

23 quarters · since Dec 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Oct 1, 2026

Form ADV adviser

CRD 164646

Roster of Oct 1, 2026

Regulatory AUM

$727,644,200

Main clients

Individuals and high net worth (77% of AUM)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Apr 2026 to Oct 2026	$727,644,200	Individuals and high net worth (77%)
Apr 2025 to Mar 2026	$607,331,627	Individuals and high net worth (72%)
Apr 2024 to Mar 2025	$507,143,594	Individuals and high net worth (72%)
May 2023 to Mar 2024	$385,347,888	Individuals and high net worth (76%)
Mar 2023 to Apr 2023	$385,347,888	Individuals and high net worth (76%)
Apr 2022 to Feb 2023	$413,417,456	Individuals and high net worth (73%)

3 earlier changes not shown.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Concentrated

The top 10 positions are 94.5% of the book (60%+)

Turnover

Low turnover

25.5% over the last four quarters (under 30%)

Horizon

Long horizon

Value-weighted holding period 18.6 quarters (12+)

Closest benchmark: every 13F filer's combined book, active share 87.0%; sector active share 70.9% against the combined 13F book's sector weights.

Over time 23 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

57 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

45.2%

+14.8 pts

Top 5

88.1%

+7.2 pts

Top 10

94.5%

+4.2 pts

HHI

2,615

Highly concentrated+850

Portfolio Trend

23 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Unclassified	76.2%	$206,606,651	31
Financial Services	15.7%	$42,686,371	5
Technology	4.2%	$11,517,139	9
Communication Services	2.7%	$7,233,641	3
Consumer Cyclical	0.5%	$1,368,046	2
Healthcare	0.2%	$675,193	3
Industrials	0.2%	$599,845	2
Consumer Defensive	0.1%	$231,397	1
Energy	0.1%	$208,498	1

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

13 positions

Ticker	Company	Δ Shares	Shares	Value
VO	VANGUARD MID-CAP INDEX FUND	+11,346	20,165	$1,624,694
IWF	iShares Russell 1000 Growth ETF	+11,045	14,598	$1,812,633
VUG	VANGUARD GROWTH INDEX FUND	+10,140	12,320	$1,061,244
GLW	Corning Inc	+229	2,348	$599,749
NVDA	Nvidia Corp	+222	5,995	$1,199,539
JMTG	JPMorgan Mortgage-Backed Securities ETF	+98	13,120	$664,921
PG	PROCTER & GAMBLE Co	+89	1,578	$231,397
GOOGL	Alphabet Inc.	+79	4,876	$1,742,536
MSFT	Microsoft Corp	+48	3,776	$1,408,522
XOM	ExxonMobil Holdings Corp	+30	1,525	$208,498
TSM	Taiwan Semiconductor Manufacturing Co Ltd	+24	2,413	$1,152,376
IEMG	iShares Trust	+24	5,465	$452,720
TJX	Tjx Companies Inc	+1	1,540	$233,310
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
IJH	iShares Core S&P Mid-Cap ETF	−24,562	167,957	$12,951,164
QQQM	Invesco Ltd.	−8,667	97,959	$29,678,638
VTV	VANGUARD VALUE INDEX FUND	−8,613	175,562	$38,260,226
IVV	iShares Core S&P 500 ETF	−5,085	81,307	$60,889,999
ESGV	VANGUARD ESG U.S. STOCK ETF	−3,336	3,461	$457,682
PID	Victory Portfolios II	−3,069	64,662	$1,435,496
GOOG	Alphabet Inc.	−2,836	11,455	$4,047,394
IWR	iShares Russell Mid-Cap ETF	−1,751	4,276	$471,728
IDEV	iShares Core MSCI International Developed Markets ETF	−1,343	408,779	$36,385,418
IEFA	iShares Core MSCI EAFE ETF	−776	51,604	$4,983,914
IJR	iShares Core S&P Small-Cap ETF	−582	10,538	$1,562,890
SCHF	Schwab International Equity ETF	−520	26,250	$727,125
QQQ	Invesco Qqq Trust, Series 1	−266	972	$715,780
FELC	Fidelity Enhanced Large Cap Core ETF	−150	53,242	$2,231,372
VOO	VANGUARD 500 INDEX FUND	−139	711	$488,321
VYMI	VANGUARD INTERNATIONAL HIGH DIVIDEND YIELD INDEX FUND	−127	241,414	$23,706,854
AMZN	Amazon Com Inc	−114	4,761	$1,134,736
ESML	iShares ESG Aware MSCI USA Small-Cap ETF	−109	5,710	$319,360
RTX	RTX Corp	−83	1,781	$337,909
JNJ	Johnson & Johnson	−79	1,754	$445,463
SPY	Spdr S&P 500 ETF Trust	−66	2,397	$1,790,007
IWD	iShares Russell 1000 Value ETF	−57	3,076	$745,714
AAPL	Apple Inc.	−55	20,377	$5,896,288
IXUS	iShares Core MSCI Total International Stock ETF	−27	5,236	$499,723
AVGO	Broadcom Inc.	−26	1,436	$542,448
No positions match the current search.

New Positions

Positions the filer opened this quarter

7 positions

Ticker	Company	Shares	Value
IDMO	Invesco Ltd.	183,135	$11,041,209
GLDM	World Gold Trust	117,528	$9,334,073
BNY	Bank of New York Mellon Corp	1,967	$284,447
IBM	International Business Machines Corp	905	$254,495
INTC	Intel Corp	1,676	$234,019
MU	Micron Technology Inc	199	$229,703
UNH	Unitedhealth Group Inc	507	$210,724
No positions match the current search.

Sold Out

Positions the filer fully exited

4 positions

Ticker	Company	Shares	Value
GLD	Spdr Gold Trust	23,622	$10,164,310
CGGR	Capital Group Growth ETF	8,033	$322,846
JGRO	JPMorgan Active Growth ETF	2,505	$211,722
JPM	Jpmorgan Chase & Co	693	$203,852
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

57 tracked positions · $271,126,781 total · filing declares 65 positions · $271,127,841 · as of Jun 30, 2026

All sectors Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Technology

Showing 1–50 of 57 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
IVV	iShares Core S&P 500 ETF	Reduced	81,307	-5,085	$60,889,999	—	23	before history	22.46%
VTV	VANGUARD VALUE INDEX FUND	Reduced	175,562	-8,613	$38,260,226	+5.9%	23	before history	14.11%
IDEV	iShares Core MSCI International Developed Markets ETF	Reduced	408,779	-1,343	$36,385,418	—	18	unpriced	13.42%
QQQM	Invesco Ltd. Financial Services	Reduced	97,959	-8,667	$29,678,638	+17.1%	18	$155.28	10.95%
VYMI	VANGUARD INTERNATIONAL HIGH DIVIDEND YIELD INDEX FUND	Reduced	241,414	-127	$23,706,854	+4.1%	18	$70.49	8.74%
IJH	iShares Core S&P Mid-Cap ETF	Reduced	167,957	-24,562	$12,951,164	—	23	before history	4.78%
IDMO	Invesco Ltd. Financial Services	NEW	183,135	NEW	$11,041,209	NEW	1	$59.36	4.07%
GLDM	World Gold Trust	NEW	117,528	NEW	$9,334,073	NEW	1	$89.29	3.44%
AAPL	Apple Inc. Technology	Reduced	20,377	-55	$5,896,288	+13.7%	23	before history	2.17%
IEFA	iShares Core MSCI EAFE ETF	Reduced	51,604	-776	$4,983,914	—	23	before history	1.84%
GOOG	Alphabet Inc. Communication Services	Reduced	11,455	-2,836	$4,047,394	−1.3%	19	unpriced	1.49%
FELC	Fidelity Enhanced Large Cap Core ETF	Reduced	53,242	-150	$2,231,372	+15.2%	11	$26.01	0.82%
IWF	iShares Russell 1000 Growth ETF	Added	14,598	+11,045	$1,812,633	—	23	before history	0.67%
SPY	Spdr S&P 500 ETF Trust	Reduced	2,397	-66	$1,790,007	+11.8%	23	before history	0.66%
GOOGL	Alphabet Inc. Communication Services	Added	4,876	+79	$1,742,536	+26.3%	12	$179.20	0.64%
VO	VANGUARD MID-CAP INDEX FUND	Added	20,165	+11,346	$1,624,694	+156.6%	23	before history	0.60%
IJR	iShares Core S&P Small-Cap ETF	Reduced	10,538	-582	$1,562,890	—	23	before history	0.58%
META	Meta Platforms, Inc. Communication Services	Reduced	2,563	-22	$1,443,711	−2.4%	18	$346.78	0.53%
PID	Victory Portfolios II	Reduced	64,662	-3,069	$1,435,496	−4.7%	15	$16.47	0.53%
MSFT	Microsoft Corp Technology	Added	3,776	+48	$1,408,522	+2.1%	23	before history	0.52%
NVDA	Nvidia Corp Technology	Added	5,995	+222	$1,199,539	+19.1%	5	$156.47	0.44%
TSM	Taiwan Semiconductor Manufacturing Co Ltd Technology	Added	2,413	+24	$1,152,376	+42.7%	9	$160.93	0.43%
AMZN	Amazon Com Inc Consumer Cyclical	Reduced	4,761	-114	$1,134,736	+11.8%	18	$178.69	0.42%
VUG	VANGUARD GROWTH INDEX FUND	Added	12,320	+10,140	$1,061,244	+568.7%	23	before history	0.39%
BRK-B	Berkshire Hathaway Inc Financial Services	Reduced	1,865	-7	$933,227	+4.0%	17	$395.04	0.34%
IWM	iShares Russell 2000 ETF	Reduced	2,643	-1	$794,089	—	23	before history	0.29%
BRK-A	Berkshire Hathaway Inc Financial Services	Held	1	0	$748,850	+4.3%	17	$471,172.90	0.28%
IWD	iShares Russell 1000 Value ETF	Reduced	3,076	-57	$745,714	—	23	before history	0.28%
SCHF	Schwab International Equity ETF	Reduced	26,250	-520	$727,125	+9.7%	9	unpriced	0.27%
QQQ	Invesco Qqq Trust, Series 1	Reduced	972	-266	$715,780	+0.2%	3	$613.63	0.26%
IWB	iShares Russell 1000 ETF	Reduced	1,681	-3	$688,369	—	23	before history	0.25%
JMTG	JPMorgan Mortgage-Backed Securities ETF	Added	13,120	+98	$664,921	+0.1%	5	unpriced	0.25%
GLW	Corning Inc Technology	Added	2,348	+229	$599,749	+108.2%	2	$126.58	0.22%
AVGO	Broadcom Inc. Technology	Reduced	1,436	-26	$542,448	+19.9%	5	$278.38	0.20%
IXUS	iShares Core MSCI Total International Stock ETF	Reduced	5,236	-27	$499,723	—	23	before history	0.18%
VOO	VANGUARD 500 INDEX FUND	Reduced	711	-139	$488,321	−3.9%	9	unpriced	0.18%
IWR	iShares Russell Mid-Cap ETF	Reduced	4,276	-1,751	$471,728	—	23	before history	0.17%
ESGV	VANGUARD ESG U.S. STOCK ETF	Reduced	3,461	-3,336	$457,682	−40.0%	2	unpriced	0.17%
IEMG	iShares Trust	Added	5,465	+24	$452,720	—	3	unpriced	0.17%
VTI	VANGUARD TOTAL STOCK MARKET INDEX FUND	Held	1,207	0	$446,638	+15.3%	9	unpriced	0.16%
JNJ	Johnson & Johnson Healthcare	Reduced	1,754	-79	$445,463	−0.6%	23	before history	0.16%
RTX	RTX Corp Industrials	Reduced	1,781	-83	$337,909	−6.0%	8	$122.79	0.12%
ESML	iShares ESG Aware MSCI USA Small-Cap ETF	Reduced	5,710	-109	$319,360	—	2	unpriced	0.12%
VWO	VANGUARD EMERGING MARKETS STOCK INDEX FUND	Held	4,840	0	$288,899	+10.4%	9	$43.36	0.11%
BNY	Bank of New York Mellon Corp Financial Services	NEW	1,967	NEW	$284,447	NEW	1	$136.73	0.10%
VXUS	Vanguard Total International Stock ETF	Reduced	3,200	-3	$273,568	+10.8%	2	$79.39	0.10%
VV	VANGUARD LARGE-CAP INDEX FUND	Held	789	0	$271,344	+15.1%	10	unpriced	0.10%
VB	Vanguard Index Funds	Reduced	893	-18	$270,686	+13.4%	3	$256.19	0.10%
UNP	Union Pacific Corp Industrials	Held	963	0	$261,936	+12.1%	3	$228.26	0.10%
IBM	International Business Machines Corp Technology	NEW	905	NEW	$254,495	NEW	1	$251.95	0.09%

Showing the top 50 of 57 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.