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Formulate Financial LLC 13F Holdings & Position Changes (Q2 2026)
Formulate Financial LLCCIK: 0002093400
Sector-focusedLong-term holderQuality / disciplined sizing
Total reported value
$95.0M
Reporting period: 2026-06-30 · Number of holdings: 26
FORMULATE FINANCIAL LLC disclosed 26 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $95.0M and a quarterly turnover rate of 0.0%.
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Personality snowflake
- Concentration
- 43.2
- Portfolio Stability
- 0
- Momentum
- 50
- Sector conviction
- 91.53
- Diversification
- 52
- Sizing Uniformity
- 86.29
Formulate Financial LLC's disclosed holdings carry a Herfindahl concentration index of 0.108 — mathematically equivalent to about 9 equally-sized positions, well below its 26 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.37), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 11% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd QQQ
+2.8% $3.5M
Trim VIG
-1.0% $821.5K
Add IVW
+3.1% $1.5M
Trim ETN
-49.5% -$331.5K
Trim MSFT
-0.4% $8.2K
Sold out IBM
Holdings Map
New buyAddUnchangedTrim
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Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 18.45% | -0.22% | +0.88% | |
| 2 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 15.63% | +1.66% | +2.83% | |
| 3 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 11.66% | +0.10% | +3.01% | |
| 4 | IWB | Ishares Russell 1000 ETF | ETF-Other | 11.26% | -0.15% | +0.80% | |
| 5 | VIG | Vanguard Dividend Apprec ETF | ETF-Other | 10.50% | -0.81% | -0.96% | |
| 6 | IVW | Ishares S&p 500 Growth ETF | ETF-Large Cap & Growth | 7.88% | +0.51% | +3.06% | |
| 7 | ITOT | Ishares Core S&p Total U.s. | ETF-Other | 4.95% | +0.07% | +3.10% | |
| 8 | IWF | Ishares Russell 1000 Growth | ETF-Other | 3.42% | -0.03% | +298.49% | |
| 9 | VONE | Vanguard Russell 1000 | ETF-Other | 2.59% | -0.06% | — | |
| 10 | MSFT | Microsoft CORP | Stock-Tech | 2.40% | -0.41% | -0.41% | |
| 11 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 1.66% | -0.04% | — | |
| 12 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 1.45% | +0.07% | — | |
| 13 | VUG | Vanguard Growth ETF | ETF-Other | 1.43% | +0.01% | +500.00% | |
| 14 | NVDA | Nvidia CORP | Stock-Tech | 1.28% | -0.03% | — | |
| 15 | AAPL | Apple Inc | Stock-Tech | 1.13% | -0.04% | — | |
| 16 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.68% | -0.09% | — | |
| 17 | VTI | Vanguard Total Stock Mkt ETF | ETF-Other | 0.55% | +0.14% | +37.00% | |
| 18 | ETN | Eaton Corporation plc | Stock-Industrials | 0.53% | -0.50% | -49.48% | |
| 19 | PFF | Ishares Preferred & Income S | ETF-Other | 0.49% | -0.09% | -0.19% | |
| 20 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.39% | +0.13% | +69.13% | |
| 21 | ABBV | Abbvie Inc | Stock-Healthcare | 0.34% | -0.01% | — | |
| 22 | AVGO | Broadcom Inc | Stock-Tech | 0.31% | +0.01% | -1.03% | |
| 23 | HD | Home Depot Inc | Stock-Consumer Disc | 0.28% | -0.03% | — | |
| 24 | NEE | Nextera Energy Inc | Stock-Utilities | 0.28% | -0.06% | — | |
| 25 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 0.25% | -0.04% | — | |
| 26 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 0.22% | +0.22% | NEW |
Portfolio Performance
Performance for Q3 2026
+1.3%
Performance Last 4 Quarters
+13%
- Stdev
- +17%
- Beta
- +1.11
- Alpha
- -1.8%
- Max Drawdown
- -6.4%
- Annualized Perf
- +17.7%
- Batting Avg vs S&P
- +44.4%
- Sortino
- +2.86
- Stutzer
- +0.34
- Treynor
- +0.16
- Sterling
- —
- Calmar
- +2.79
- Information Ratio
- +0.1
- Tracking Error
- +2.3%
- Stdev Down
- +6.2%
- Winning Months %
- +44.4%
- Losing Months %
- +55.6%
- Best 12 Months
- —
- Worst 12 Months
- —
- Efficiency Ratio
- +0.43
- Sharpe
- +1.04
- Stdev Sectors
- +15.2%
- Skewness
- +0.94
- Kurtosis
- +0.2
- Upside Potential
- +4.71
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
Holding changes this quarter
Formulate Financial LLC's most significant position changes for 2026-06-30: Sold out: Intl Business Machines CORP (IBM); New buy: Alphabet Inc-cl A (GOOGL); Add: Invesco Qqq Trust Series 1 (QQQ) — shares +2.83%; Trim: Vanguard Dividend Apprec ETF (VIG) — shares -0.96%; Add: Ishares S&p 500 Growth ETF (IVW) — shares +3.06%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | QQQ | Invesco Qqq Trust Series 1 | +1.7% | +2.83% | Add |
| 2 | IVW | Ishares S&p 500 Growth ETF | +0.5% | +3.06% | Add |
| 3 | GOOGL | Alphabet Inc-cl A | +0.2% | NEW | New buy |
| 4 | VTI | Vanguard Total Stock Mkt ETF | +0.1% | +37.00% | Add |
| 5 | JNJ | Johnson & Johnson | +0.1% | +69.13% | Add |
| 6 | SPY | Ss Spdr S&p 500 ETF Trust-us | +0.1% | +3.01% | Add |
| 7 | ITOT | Ishares Core S&p Total U.s. | +0.1% | +3.10% | Add |
| 8 | GOOG | Alphabet Inc-cl C | +0.1% | — | Unchanged |
| 9 | VUG | Vanguard Growth ETF | 0% | +500.00% | Add |
| 10 | AVGO | Broadcom Inc | 0% | -1.03% | Trim |
| 11 | ABBV | Abbvie Inc | 0% | — | Unchanged |
| 12 | IWF | Ishares Russell 1000 Growth | 0% | +298.49% | Add |
| 13 | NVDA | Nvidia CORP | 0% | — | Unchanged |
| 14 | HD | Home Depot Inc | 0% | — | Unchanged |
| 15 | AMZN | Amazon.com Inc | 0% | — | Unchanged |
| 16 | AAPL | Apple Inc | 0% | — | Unchanged |
| 17 | PG | Procter & Gamble Co/the | 0% | — | Unchanged |
| 18 | VONE | Vanguard Russell 1000 | -0.1% | — | Unchanged |
| 19 | NEE | Nextera Energy Inc | -0.1% | — | Unchanged |
| 20 | BRK-B | Berkshire Hathaway Inc-cl B | -0.1% | — | Unchanged |
| 21 | PFF | Ishares Preferred & Income S | -0.1% | -0.19% | Trim |
| 22 | IWB | Ishares Russell 1000 ETF | -0.2% | +0.80% | Add |
| 23 | VOO | Vanguard S&p 500 ETF | -0.2% | +0.88% | Add |
| 24 | IBM | Intl Business Machines CORP | -0.3% | EXIT | Sold out |
| 25 | MSFT | Microsoft CORP | -0.4% | -0.41% | Trim |
| 26 | ETN | Eaton Corporation plc | -0.5% | -49.48% | Trim |
| 27 | VIG | Vanguard Dividend Apprec ETF | -0.8% | -0.96% | Trim |
Filing History
FAQ
What is Formulate Financial LLC and what type of investor is it?
Formulate Financial LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $95.0M, spread across 26 disclosed positions.
What are Formulate Financial LLC's largest equity positions?
Based on the latest 13F filing, Formulate Financial LLC's top holdings by market value are:
1. Vanguard S&p 500 ETF (VOO) — $17.5M (18.4%)
2. Invesco Qqq Trust Series 1 (QQQ) — $14.8M (15.6%)
3. Ss Spdr S&p 500 ETF Trust-us (SPY) — $11.1M (11.7%)
4. Ishares Russell 1000 ETF (IWB) — $10.7M (11.3%)
5. Vanguard Dividend Apprec ETF (VIG) — $10.0M (10.5%)
What changes did Formulate Financial LLC make in its most recent portfolio filing?
In the latest reported quarter, Formulate Financial LLC made 17 notable position adjustments: 1 new positions were initiated, 10 existing holdings were added to, 5 positions were partially reduced, and 1 were completely exited. The largest of these moves: Sold out: Intl Business Machines CORP (IBM); New buy: Alphabet Inc-cl A (GOOGL); Add: Invesco Qqq Trust Series 1 (QQQ) — shares +2.83%; Trim: Vanguard Dividend Apprec ETF (VIG) — shares -0.96%; Add: Ishares S&p 500 Growth ETF (IVW) — shares +3.06%
What sectors does Formulate Financial LLC focus on?
Formulate Financial LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 48.7%
• Consumer Discretionary: 18.4%
• Communication Services: 15.9%
• Health Care: 7.0%
• Industrials: 5.0%
• Utilities: 2.6%
Investment Profile
Formulate Financial LLC returned an annualized 17.7% over the trailing 9 months — underperforming the S&P 500 by 1.8 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.11 (more volatile than the market) and a 44% quarterly batting average against the index.
Its portfolio is moderately concentrated and long-term-holding, with 48.7% of the portfolio concentrated in Information Technology.
It has added to its ITOT position for two straight quarters, increasing it by $1.1M to reach $4.7M.
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Developer Access
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