CIK: 0002093400
Total reported value
$81.0M
Reporting period: 2026-03-31 · Number of holdings: 26
FORMULATE FINANCIAL LLC disclosed 26 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $81.0M and a quarterly turnover rate of 7.6%.
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Formulate Financial LLC's disclosed holdings carry a Herfindahl concentration index of 0.105 — 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 1.34), with a handful of outsized bets alongside many smaller positions.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 9.4 percentage-point tilt) — a pattern consistent with a momentum-following approach.
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.
Trim MSFT
-1.2% -$733.8K
Add ITOT
+16.0% $394.4K
Add VIG
+0.8% -$129.4K
Add SPY
+2.3% -$230.0K
Add IWB
+1.9% -$257.9K
Add VOO
+1.0% -$590.3K
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 18.67% | +0.26% | +1.01% | |
| 2 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 13.97% | -0.07% | +0.54% | |
| 3 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 11.56% | +0.32% | +2.35% | |
| 4 | IWB | Ishares Russell 1000 ETF | ETF-Other | 11.41% | +0.27% | +1.89% | |
| 5 | VIG | Vanguard Dividend Apprec ETF | ETF-Other | 11.31% | +0.42% | +0.77% | |
| 6 | IVW | Ishares S&p 500 Growth ETF | ETF-Large Cap & Growth | 7.37% | -0.02% | +3.26% | |
| 7 | ITOT | Ishares Core S&p Total U.s. | ETF-Other | 4.88% | +0.71% | +15.96% | |
| 8 | IWF | Ishares Russell 1000 Growth | ETF-Other | 3.45% | -0.23% | -1.00% | |
| 9 | MSFT | Microsoft CORP | Stock-Tech | 2.81% | -0.72% | -1.21% | |
| 10 | VONE | Vanguard Russell 1000 | ETF-Other | 2.65% | +0.02% | — | |
| 11 | AMZN | Amazon.com INC | Stock-Consumer Disc | 1.70% | -0.14% | -2.81% | |
| 12 | VUG | Vanguard Growth ETF | ETF-Other | 1.42% | +0.24% | +27.07% | |
| 13 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 1.38% | -0.05% | — | |
| 14 | NVDA | Nvidia CORP | Stock-Tech | 1.31% | -0.02% | -0.08% | |
| 15 | AAPL | Apple INC | Stock-Tech | 1.17% | -0.02% | — | |
| 16 | ETN | Eaton Corporation plc | Stock-Industrials | 1.03% | +0.14% | -2.51% | |
| 17 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.77% | +0.01% | — | |
| 18 | PFF | Ishares Preferred & Income S | ETF-Other | 0.58% | +0.02% | — | |
| 19 | VTI | Vanguard Total Stock Mkt ETF | ETF-Other | 0.41% | +0.41% | NEW | |
| 20 | ABBV | Abbvie INC | Stock-Healthcare | 0.35% | +0.01% | — | |
| 21 | NEE | Nextera Energy INC | Stock-Utilities | 0.34% | +0.06% | — | |
| 22 | IBM | Intl Business Machines CORP | Stock-Tech | 0.32% | -0.13% | -17.99% | |
| 23 | HD | Home Depot INC | Stock-Consumer Disc | 0.31% | — | -0.26% | |
| 24 | AVGO | Broadcom INC | Stock-Tech | 0.30% | -0.08% | -15.91% | |
| 25 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 0.29% | +0.02% | — | |
| 26 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.26% | +0.02% | -11.28% |
Performance for Q3 2026
+3.5%
Performance Last 4 Quarters
+10%
Based on 88% of reported portfolio value with available pricing
Formulate Financial LLC's most significant position changes for 2026-03-31: Sold out: Fidelity Msci Info Tech Indx (FTEC); New buy: Vanguard Total Stock Mkt ETF (VTI); Sold out: Crowdstrike Holdings INC - A (CRWD); Sold out: Wells Fargo & Co (WFC); Sold out: Blue Owl Capital CORP (OBDC).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | ITOT | Ishares Core S&p Total U.s. | +0.7% | +15.96% | Add |
| 2 | VIG | Vanguard Dividend Apprec ETF | +0.4% | +0.77% | Add |
| 3 | SPY | Ss Spdr S&p 500 ETF Trust-us | +0.3% | +2.35% | Add |
| 4 | IWB | Ishares Russell 1000 ETF | +0.3% | +1.89% | Add |
| 5 | VOO | Vanguard S&p 500 ETF | +0.3% | +1.01% | Add |
| 6 | VUG | Vanguard Growth ETF | +0.2% | +27.07% | Add |
| 7 | ETN | Eaton Corporation plc | +0.1% | -2.51% | Trim |
| 8 | NEE | Nextera Energy INC | +0.1% | — | Unchanged |
| 9 | VONE | Vanguard Russell 1000 | 0% | — | Unchanged |
| 10 | PFF | Ishares Preferred & Income S | 0% | — | Unchanged |
| 11 | JNJ | Johnson & Johnson | 0% | -11.28% | Trim |
| 12 | PG | Procter & Gamble Co/the | 0% | — | Unchanged |
| 13 | BRK-B | Berkshire Hathaway Inc-cl B | 0% | — | Unchanged |
| 14 | ABBV | Abbvie INC | 0% | — | Unchanged |
| 15 | HD | Home Depot INC | — | -0.26% | Trim |
| 16 | IVW | Ishares S&p 500 Growth ETF | 0% | +3.26% | Add |
| 17 | NVDA | Nvidia CORP | 0% | -0.08% | Trim |
| 18 | AAPL | Apple INC | 0% | — | Unchanged |
| 19 | GOOG | Alphabet Inc-cl C | -0.1% | — | Unchanged |
| 20 | QQQ | Invesco Qqq Trust Series 1 | -0.1% | +0.54% | Add |
| 21 | AVGO | Broadcom INC | -0.1% | -15.91% | Trim |
| 22 | IBM | Intl Business Machines CORP | -0.1% | -17.99% | Trim |
| 23 | AMZN | Amazon.com INC | -0.1% | -2.81% | Trim |
| 24 | IWF | Ishares Russell 1000 Growth | -0.2% | -1.00% | Trim |
| 25 | MSFT | Microsoft CORP | -0.7% | -1.21% | Trim |
| 26 | FTEC | Fidelity Msci Info Tech Indx | — | EXIT | Sold out |
| 27 | VTI | Vanguard Total Stock Mkt ETF | — | NEW | New buy |
| 28 | CRWD | Crowdstrike Holdings INC - A | — | EXIT | Sold out |
| 29 | WFC | Wells Fargo & Co | — | EXIT | Sold out |
| 30 | OBDC | Blue Owl Capital CORP | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-04-29 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-11 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-10-31 | 13F-HR | View on EDGAR |
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