CIK: 0001633716
Total reported value
$530.5M
Reporting period: 2026-03-31 · Number of holdings: 437
USA FINANCIAL FORMULAS disclosed 437 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $530.5M and a quarterly turnover rate of 155.5%.
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USA Financial Formulas's disclosed holdings carry a Herfindahl concentration index of 0.134 — mathematically equivalent to about 7 equally-sized positions, well below its 437 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 7.58), 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 12% 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.
Add IWM
+15520.1% $107.4M
Trim SPY
-100.0% -$64.5M
Trim EFA
-99.8% -$64.3M
Trim EEM
-95.0% -$62.0M
Trim QQQ
-93.7% -$61.4M
Trim IVW
-94.5% -$61.3M
Showing top 200 holdings (of 437 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | IJS | Ishares S&p Small-cap 600 Va | ETF-Other | 20.72% | +20.72% | NEW | |
| 2 | IWM | Ishares Russell 2000 ETF | ETF-Small Cap | 20.38% | +20.26% | +15520.06% | |
| 3 | IJK | Ishares S&p Mid-cap 400 Grow | ETF-Other | 19.76% | +19.76% | NEW | |
| 4 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 7.19% | -7.61% | -50.87% | |
| 5 | BIL | Ss Spdr Bb 1-3m T-bill ETF | ETF-Gov Bonds | 4.38% | +4.38% | NEW | |
| 6 | GSG | Ishares S&p Gsci Commodity I | ETF-Commodities | 3.51% | +3.44% | +3533.97% | |
| 7 | LQD | Ishr Ibx Usd Invgd Cb Etf-ui | ETF-Corp Bonds | 2.63% | -2.05% | -45.07% | |
| 8 | IEF | Ishares 7-10 Year Treasury B | ETF-Gov Bonds | 2.32% | +2.32% | NEW | |
| 9 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 0.72% | -11.15% | -93.73% | |
| 10 | SIXJ | Allian US Equ 6 Mon Bu10-usd | ETF-Other | 0.72% | — | -5.88% | |
| 11 | SIXO | Allian US Equ 6 Mon Bu10-usd | ETF-Other | 0.70% | — | -5.48% | |
| 12 | EEM | Ishares Msci Emerging Market | ETF-Emerging Markets | 0.64% | -11.26% | -94.98% | |
| 13 | IVW | Ishares S&p 500 Growth ETF | ETF-Large Cap & Growth | 0.62% | -11.14% | -94.46% | |
| 14 | JANU | Allianzim US Bf15 Uncap Jan | ETF-Other | 0.36% | — | -5.66% | |
| 15 | OCTU | Allianzim US Bf15 Uncap Oct | ETF-Other | 0.36% | — | -5.64% | |
| 16 | JULU | Allianzim US Bf15 Uncap Jul | ETF-Other | 0.36% | — | -5.62% | |
| 17 | ARLU | Allianzim US Bf15 Uncap Apr | ETF-Other | 0.35% | — | -5.71% | |
| 18 | AMAT | Applied Materials INC | Stock-Tech | 0.31% | +0.31% | +12489.47% | |
| 19 | WDC | Western Digital CORP | Stock-Tech | 0.29% | +0.16% | +31.71% | |
| 20 | CSCO | Cisco Systems INC | Stock-Tech | 0.28% | — | +37.46% | |
| 21 | LRCX | Lam Research CORP | Stock-Tech | 0.27% | — | -37.01% | |
| 22 | MU | Micron Technology INC | Stock-Tech | 0.26% | -0.13% | -45.00% | |
| 23 | GILD | Gilead Sciences INC | Stock-Healthcare | 0.26% | — | +8.39% | |
| 24 | ROST | Ross Stores INC | Stock-Consumer Disc | 0.25% | +0.25% | NEW | |
| 25 | STX | Seagate Technology Holdings plc | Stock-Tech | 0.25% | +0.25% | NEW | |
| 26 | BKR | Baker Hughes Co | Stock-Energy | 0.23% | — | +7.29% | |
| 27 | REGN | Regeneron Pharmaceuticals | Stock-Healthcare | 0.21% | +0.21% | NEW | |
| 28 | ADI | Analog Devices INC | Stock-Tech | 0.21% | — | +4.94% | |
| 29 | BNY | Bank Of New York Mellon CORP | Stock-Financials | 0.19% | — | +14.18% | |
| 30 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.19% | -0.15% | -42.67% | |
| 31 | AEP | American Electric Power | Stock-Utilities | 0.19% | -0.12% | -49.22% | |
| 32 | AMD | Advanced Micro Devices | Stock-Tech | 0.18% | — | -35.18% | |
| 33 | RTX | Rtx CORP | Stock-Industrials | 0.17% | — | -16.46% | |
| 34 | KEYS | Keysight Technologies In | Stock-Tech | 0.17% | — | -21.09% | |
| 35 | MRK | Merck & Co. INC. | Stock-Healthcare | 0.17% | +0.17% | NEW | |
| 36 | AAPL | Apple INC | Stock-Tech | 0.16% | +0.16% | +48957.14% | |
| 37 | AES | Aes CORP | Stock-Utilities | 0.16% | — | +319.79% | |
| 38 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.16% | — | -16.28% | |
| 39 | HAS | Hasbro INC | Stock-Consumer Disc | 0.15% | — | +125.47% | |
| 40 | CMI | Cummins INC | Stock-Industrials | 0.15% | — | +282.31% | |
| 41 | HAL | Halliburton Co | Stock-Energy | 0.15% | +0.15% | NEW | |
| 42 | GLD | Spdr Gold Shares | ETF-Commodities | 0.15% | +0.14% | +2214.10% | |
| 43 | RSP | Invesco S&p 500 Equal Weight | ETF-Large Cap & Growth | 0.15% | +0.15% | NEW | |
| 44 | XOM | Exxon Mobil CORP | Stock-Energy | 0.14% | +0.14% | +89560.00% | |
| 45 | NDSN | Nordson CORP | Stock-Industrials | 0.14% | — | +538.05% | |
| 46 | XEL | Xcel Energy INC | Stock-Utilities | 0.14% | -0.15% | -57.09% | |
| 47 | C | Citigroup INC | Stock-Financials | 0.13% | — | -9.40% | |
| 48 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.13% | — | -35.34% | |
| 49 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 0.13% | -0.16% | -51.74% | |
| 50 | CSX | Csx CORP | Stock-Industrials | 0.13% | — | -35.14% |
Performance for Q3 2026
+7.1%
Performance Last 4 Quarters
+28.6%
Based on 48% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 437 | $530.5M | 100 | |
| 2025-12-31 | 414 | $549.6M | 23 | |
| 2025-09-30 | 257 | $567.6M | 100 | |
| 2025-06-30 | 240 | $585.9M | 0 | |
| 2025-03-31 | 274 | $605.7M | 100 | |
| 2024-12-31 | 286 | $636.4M | 0 | |
| 2024-09-30 | 256 | $643.1M | 0 | |
| 2024-06-30 | 297 | $616.7M | 0 | |
| 2024-03-31 | 300 | $616.8M | 0 | |
| 2023-12-31 | 333 | $571.6M | 0 | |
| 2023-09-30 | 494 | $66.9M | 0 | |
| 2023-06-30 | 490 | $65.1M | — | |
| 2023-03-31 | 424 | $61.7M | — | |
| 2022-09-30 | 372 | $63.5M | 0 | |
| 2022-06-30 | 395 | $80.0M | 0 | |
| 2022-03-31 | 397 | $93.5M | 0 | |
| 2021-12-31 | 410 | $116.6M | 0 | |
| 2021-09-30 | 425 | $112.0M | 0 | |
| 2021-06-30 | 395 | $119.4M | 100 | |
| 2021-03-31 | 359 | $123.1M | 100 | |
| 2020-12-31 | 338 | $126.5M | 99 | |
| 2020-09-30 | 343 | $132.5M | 100 | |
| 2020-06-30 | 257 | $134.5M | 100 | |
| 2020-03-31 | 239 | $157.0M | 100 | |
| 2019-12-31 | 251 | $240.8M | 100 | |
| 2019-09-30 | 234 | $257.6M | 100 | |
| 2019-06-30 | 120 | $199.3M | 23 | |
| 2019-03-31 | 120 | $158.8M | 100 | |
| 2018-12-31 | 327 | $401.8M | 100 | |
| 2018-09-30 | 270 | $394.9M | 100 | |
| 2018-06-30 | 320 | $411.6M | 1 | |
| 2018-03-31 | 320 | $414.6M | 100 | |
| 2017-12-31 | 251 | $420.5M | 100 | |
| 2017-09-30 | 239 | $419.6M | 100 | |
| 2017-06-30 | 223 | $414.5M | 100 | |
| 2017-03-31 | 237 | $415.3M | 100 | |
| 2016-12-31 | 240 | $402.2M | 100 | |
| 2016-09-30 | 218 | $389.8M | 100 | |
| 2016-06-30 | 205 | $364.5M | 100 | |
| 2016-03-31 | 66 | $314.3M | 100 | |
| 2015-12-31 | 92 | $247.3M | 100 | |
| 2015-09-30 | 87 | $154.3M | 100 | |
| 2015-06-30 | 202 | $325.7M | 100 | |
| 2015-03-31 | 176 | $306.8M | 100 | |
| 2014-12-31 | 173 | $291.4M | — |
USA Financial Formulas's most significant position changes for 2026-03-31: New buy: Ishares S&p Small-cap 600 Va (IJS); New buy: Ishares S&p Mid-cap 400 Grow (IJK); New buy: Ss Spdr Bb 1-3m T-bill ETF (BIL); New buy: Ishares 7-10 Year Treasury B (IEF); Sold out: Ishares US Telecommunication (IYZ).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | IWM | Ishares Russell 2000 ETF | +20.3% | +15520.06% | Add |
| 2 | GSG | Ishares S&p Gsci Commodity I | +3.4% | +3533.97% | Add |
| 3 | AMAT | Applied Materials INC | +0.3% | +12489.47% | Add |
| 4 | AAPL | Apple INC | +0.2% | +48957.14% | Add |
| 5 | WDC | Western Digital CORP | +0.2% | +31.71% | Add |
| 6 | XOM | Exxon Mobil CORP | +0.1% | +89560.00% | Add |
| 7 | GLD | Spdr Gold Shares | +0.1% | +2214.10% | Add |
| 8 | AEP | American Electric Power | -0.1% | -49.22% | Trim |
| 9 | MU | Micron Technology INC | -0.1% | -45.00% | Trim |
| 10 | OUSA | Alps Oshares US Quality Divi | -0.1% | -99.98% | Trim |
| 11 | JPM | Jpmorgan Chase & Co | -0.1% | -99.87% | Trim |
| 12 | GE | General Electric | -0.1% | -99.87% | Trim |
| 13 | EW | Edwards Lifesciences CORP | -0.1% | -78.47% | Trim |
| 14 | MPC | Marathon Petroleum CORP | -0.1% | -99.92% | Trim |
| 15 | GOOG | Alphabet Inc-cl C | -0.2% | -42.67% | Trim |
| 16 | XEL | Xcel Energy INC | -0.2% | -57.09% | Trim |
| 17 | FE | Firstenergy CORP | -0.2% | -92.61% | Trim |
| 18 | GOOGL | Alphabet Inc-cl A | -0.2% | -51.74% | Trim |
| 19 | EXC | Exelon CORP | -0.2% | -99.24% | Trim |
| 20 | MNST | Monster Beverage CORP | -0.2% | -60.59% | Trim |
| 21 | AVGO | Broadcom INC | -0.3% | -99.98% | Trim |
| 22 | IDXX | Idexx Laboratories INC | -0.3% | -98.46% | Trim |
| 23 | HYG | Ishr Ibx Usd Hiyld Cb Etf-ui | -1.2% | -99.99% | Trim |
| 24 | LQD | Ishr Ibx Usd Invgd Cb Etf-ui | -2.1% | -45.07% | Trim |
| 25 | IVV | Ishares Core S&p 500 ETF | -7.6% | -50.87% | Trim |
| 26 | IVW | Ishares S&p 500 Growth ETF | -11.1% | -94.46% | Trim |
| 27 | QQQ | Invesco Qqq Trust Series 1 | -11.2% | -93.73% | Trim |
| 28 | EEM | Ishares Msci Emerging Market | -11.3% | -94.98% | Trim |
| 29 | EFA | Ishares Msci Eafe ETF | -11.7% | -99.80% | Trim |
| 30 | SPY | Ss Spdr S&p 500 ETF Trust-us | -11.7% | -99.99% | Trim |
| 31 | IJS | Ishares S&p Small-cap 600 Va | — | NEW | New buy |
| 32 | IJK | Ishares S&p Mid-cap 400 Grow | — | NEW | New buy |
| 33 | BIL | Ss Spdr Bb 1-3m T-bill ETF | — | NEW | New buy |
| 34 | IEF | Ishares 7-10 Year Treasury B | — | NEW | New buy |
| 35 | IYZ | Ishares US Telecommunication | — | EXIT | Sold out |
| 36 | IYW | Ishares Ustechnology ETF | — | EXIT | Sold out |
| 37 | IYH | Ishares U.s. Healthcare ETF | — | EXIT | Sold out |
| 38 | IDU | Ishares US Utilities ETF | — | EXIT | Sold out |
| 39 | ROST | Ross Stores INC | — | NEW | New buy |
| 40 | STX | Seagate Technology Holdings plc | — | NEW | New buy |
| 41 | REGN | Regeneron Pharmaceuticals | — | NEW | New buy |
| 42 | AZNN | Astrazeneca Plc-spons Adr | — | EXIT | Sold out |
| 43 | MRK | Merck & Co. INC. | — | NEW | New buy |
| 44 | HAL | Halliburton Co | — | NEW | New buy |
| 45 | GM | General Motors Co | — | EXIT | Sold out |
| 46 | RSP | Invesco S&p 500 Equal Weight | — | NEW | New buy |
| 47 | DDOG | Datadog INC - Class A | — | EXIT | Sold out |
| 48 | ULTA | Ulta Beauty INC | — | EXIT | Sold out |
| 49 | MCHP | Microchip Technology INC | — | NEW | New buy |
| 50 | PEP | Pepsico INC | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-04-14 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-01-14 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-10-10 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-07-18 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-04-15 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-01-14 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-10-08 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-07-12 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-04-30 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-07 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-27 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-11-27 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-11-27 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-10-24 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-15 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-08-16 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-10 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-08 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-07-29 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-06 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-01-29 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-10-09 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-11 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-04-13 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-07 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-14 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-12 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-14 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-14 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-10-31 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-03 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-04-03 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-13 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-02 | Amendment | View on EDGAR |
| 2017-09-30 | 2017-10-11 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-23 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-15 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-03-03 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-10 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-15 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-13 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-09 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-16 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-10 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-05 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-12 | 13F-HR | View on EDGAR |
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