FOCUS FINANCIAL NETWORK INC /ADV

CIK

925208

Location

Minneapolis, MN

Portfolio Value

Mid $1,047,724,469

Diversification

Diversified

Filing Date

Dec 31, 2023

Global Rank

#1,383 / 7,317

Top Industry

Consumer Electronics 14.2%

3Y Alpha vs SPY

-2.9%

Period ended 2 years ago

Filed Feb 12, 2024 · 2y

Clone Performance

Feb 2024–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+45.0%

SPY

+52.9%

Annualised alpha

-2.7%

Max drawdown

−18.7%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

298 positions · as of Dec 31, 2023

Top Position

12.2%

of portfolio value

Top 5

36.2%

of portfolio value

Top 10

48.4%

of portfolio value

HHI

368

Diversified

Sector Breakdown

As of Dec 31, 2023

Sector	% Portfolio	Value	Positions
Technology	25.5%	$266,671,374	44
Unclassified	14.0%	$147,202,353	11
Healthcare	12.1%	$127,094,607	32
Financial Services	12.0%	$125,573,134	60
Consumer Cyclical	10.8%	$113,427,777	37
Industrials	10.1%	$106,039,136	42
Consumer Defensive	5.6%	$59,184,524	24
Communication Services	3.9%	$41,068,923	11
Energy	2.8%	$28,936,803	17
Utilities	1.8%	$18,800,323	10
Basic Materials	1.3%	$13,725,515	10

Portfolio Positions

Compact Export CSV View 13F filing

298 positions · $1,047,724,469 total · as of Dec 31, 2023

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

Showing 1–50 of 298 positions by value · page 1 of 6

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
AAPL	Apple Inc. Technology	First	664,314	—	$127,900,374	—	12.21%
QQQ	Invesco Qqq Trust, Series 1	First	225,659	—	$92,411,873	—	8.82%
AMZN	Amazon Com Inc Consumer Cyclical	First	420,931	—	$63,956,256	—	6.10%
MSFT	Microsoft Corp Technology	First	140,964	—	$53,008,102	—	5.06%
UNH	Unitedhealth Group Inc Healthcare	First	78,830	—	$41,501,630	—	3.96%
SPY	Spdr S&P 500 ETF Trust	First	72,859	—	$34,630,611	—	3.31%
JPM	Jpmorgan Chase & Co Financial Services	First	150,980	—	$25,681,698	—	2.45%
GOOGL	Alphabet Inc. Communication Services	First	179,068	—	$25,014,008	—	2.39%
BRK-B	Berkshire Hathaway Inc Financial Services	First	64,372	—	$22,958,917	—	2.19%
SHOP	Shopify Inc. Technology	First	258,484	—	$20,135,903	—	1.92%
LLY	ELI LILLY & Co Healthcare	First	29,655	—	$17,286,492	—	1.65%
HON	Honeywell International Inc Industrials	First	73,641	—	$14,555,379	—	1.39%
JNJ	Johnson & Johnson Healthcare	First	90,428	—	$14,173,684	—	1.35%
V	Visa Inc. Financial Services	First	53,296	—	$13,875,613	—	1.32%
HD	Home Depot, Inc. Consumer Cyclical	First	36,978	—	$12,814,725	—	1.22%
COST	Costco Wholesale Corp /New Consumer Defensive	First	18,912	—	$12,483,432	—	1.19%
TGT	Target Corp Consumer Defensive	First	81,475	—	$11,603,669	—	1.11%
BA	Boeing Co Industrials	First	41,503	—	$10,818,171	—	1.03%
CVX	Chevron Corp Energy	First	69,572	—	$10,377,359	—	0.99%
MMM	3M Co Industrials	First	107,060	—	$9,785,787	—	0.93%
ABBV	AbbVie Inc. Healthcare	First	62,996	—	$9,762,490	—	0.93%
MDT	Medtronic plc Healthcare	First	114,208	—	$9,408,455	—	0.90%
TSLA	Tesla, Inc. Consumer Cyclical	First	37,582	—	$9,338,375	—	0.89%
XEL	Xcel Energy Inc Utilities	First	146,088	—	$9,044,308	—	0.86%
CAT	Caterpillar Inc Industrials	First	29,676	—	$8,774,302	—	0.84%
NVDA	Nvidia Corp Technology	First	167,355	—	$8,287,754	—	0.79%
ABT	Abbott Laboratories Healthcare	First	74,926	—	$8,247,104	—	0.79%
META	Meta Platforms, Inc. Communication Services	First	23,075	—	$8,167,627	—	0.78%
MCD	Mcdonalds Corp Consumer Cyclical	First	26,534	—	$7,867,596	—	0.75%
ECL	Ecolab Inc. Basic Materials	First	37,454	—	$7,429,000	—	0.71%
PEP	Pepsico Inc Consumer Defensive	First	42,673	—	$7,247,582	—	0.69%
GGG	Graco Inc Industrials	First	73,906	—	$6,412,084	—	0.61%
BAC	Bank Of America Corp /De/ Financial Services	First	188,176	—	$6,335,885	—	0.60%
XOM	Exxon Mobil Corp Energy	First	62,385	—	$6,237,252	—	0.60%
WFC	Wells Fargo & Company/Mn Financial Services	First	126,523	—	$6,227,462	—	0.59%
PG	PROCTER & GAMBLE Co Consumer Defensive	First	41,656	—	$6,104,270	—	0.58%
CSCO	Cisco Systems, Inc. Technology	First	120,556	—	$6,090,489	—	0.58%
SGOL	abrdn Gold ETF Trust	First	279,881	—	$5,524,850	—	0.53%
GLD	Spdr Gold Trust	First	28,440	—	$5,436,874	—	0.52%
USB	US Bancorp De Financial Services	First	124,290	—	$5,379,271	—	0.51%
LMT	Lockheed Martin Corp Industrials	First	11,725	—	$5,314,239	—	0.51%
GIS	General Mills Inc Consumer Defensive	First	77,930	—	$5,076,360	—	0.48%
WM	Waste Management Inc Industrials	First	27,877	—	$4,992,770	—	0.48%
MA	Mastercard Inc Financial Services	First	11,477	—	$4,895,055	—	0.47%
ACN	Accenture plc Technology	First	13,091	—	$4,593,762	—	0.44%
PNR	PENTAIR plc Industrials	First	61,016	—	$4,436,473	—	0.42%
DAL	Delta Air Lines, Inc. Industrials	First	108,634	—	$4,370,345	—	0.42%
UPS	United Parcel Service Inc Industrials	First	27,339	—	$4,298,510	—	0.41%
NMFC	New Mountain Finance Corp Financial Services	First	324,625	—	$4,129,230	—	0.39%
IBM	International Business Machines Corp Technology	First	23,706	—	$3,877,116	—	0.37%