Theory Financial LLC
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed July 31, 2026), Theory Financial LLC reported 99 stock positions worth $317.3 million. Its top holding was Schwab US Aggregate Bond ETF (SCHZ) at 7.2% of the portfolio, followed by SS Comm Select Sector SPDR (XLC, 6.7%) and Ste STR SPDR PT S&P 500 ETF (SPYM, 3.9%). Compared with Q1 2026, it opened 10 new positions, sold out of 5, added to 46 and reduced 31. The biggest buy was Ste STR SPDR PT S&P 500 ETF (SPYM, shares +67%) and the biggest sale an exit from SS Consumer Staples Sel Sect (XLP).
- Most Recent 13F
- Q2 2026
- Location
- FORT COLLINS, CO
- CIK
- 0001899158
- Portfolio Value
- $317.3M (Q2 2026)
- SEC Filing
- 0001899158-26-000003 ↗ filed Jul 31, 2026
Holdings Value
Holdings 99 stocks · $317.3M
| SCHZ Schwab US Aggregate Bond ETF | 7.20% | 988,119 | $22.9M | Add +4.4% |
| XLC SS Comm Select Sector SPDR | 6.65% | 197,004 | $21.1M | Add +6.0% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 3.86% | 139,379 | $12.2M | Add +67.0% |
| MBB iShares MBS ETF | 3.41% | 114,412 | $10.8M | Add +2.2% |
| HYLB Xtrackers Usd High Yield Cor | 2.96% | 257,512 | $9.4M | Add +4.6% |
| CTA Simplify Managed Futures St | 2.95% | 361,176 | $9.4M | Add +6.8% |
| IGIB iShares 5-10Y Inv Grade Corp. | 2.79% | 166,224 | $8.8M | Reduce -1.3% |
| EZM Wisdomtree US Midcap Fund | 2.61% | 109,393 | $8.3M | Add +22.1% |
| FCTE Smi 3FOURTEEN Full-CYCL TRND | 2.59% | 281,444 | $8.2M | Reduce -7.7% |
| SOXX iShares Semiconductor ETF | 2.48% | 12,271 | $7.9M | Reduce -7.9% |
| GRNY Fundstr Gran SH US LRG Cap | 2.47% | 283,636 | $7.8M | Reduce -11.2% |
| PICK iShares MSCI Global Metals & | 2.34% | 127,586 | $7.4M | Add +25.0% |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | 2.32% | 159,643 | $7.4M | Add +78.8% |
| PTF Invesco Dorsey Wright Tech | 2.12% | 49,392 | $6.7M | Reduce -2.4% |
| VXUS Vanguard Total Intl Stock | 2.11% | 78,191 | $6.7M | Add +11.8% |
| VGT Vanguard Info Tech ETF | 2.01% | 53,392 | $6.4M | Add +9.9% |
| SCHP Schwab U.S. Tips ETF | 1.97% | 235,393 | $6.2M | Add +18.3% |
| VFH Vanguard Financials ETF | 1.94% | 46,809 | $6.2M | Reduce -2.3% |
| XSMO Invesco S&P Smallcap Momentu | 1.88% | 63,567 | $6.0M | Add +2.5% |
| RZV Invesco S&P Smallcap 600 Pur | 1.87% | 39,779 | $5.9M | Add +5.3% |
| GLD SPDR Gold Shares | 1.86% | 16,041 | $5.9M | Add +6.9% |
| QQQM Invesco Nasdaq 100 ETF | 1.86% | 19,452 | $5.9M | Add +13.7% |
| DYNF Ishrs US E F R A ETF-Usd Inc. | 1.85% | 86,369 | $5.9M | Reduce -2.0% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 1.83% | 23,942 | $5.8M | Add +6.8% |
| XLK SS Technology Select Sector | 1.81% | 30,217 | $5.8M | Add +7.5% |
| IVW iShares S&P 500 Growth ETF | 1.79% | 41,296 | $5.7M | Reduce -3.1% |
| PDBC Invesco Optimum Yield Divers | 1.76% | 352,441 | $5.6M | Add +23.6% |
| XLV SS Health Care Select Sector | 1.53% | 30,610 | $4.9M | Reduce -31.6% |
| IVE iShares S&P 500 Value ETF | 1.51% | 21,138 | $4.8M | Reduce -17.8% |
| DRAM Roundhill Memory ETF | 1.19% | 51,118 | $3.8M | New |
| ACWX iShares MSCI Acwi Ex US ETF | 1.16% | 48,483 | $3.7M | Add +30.2% |
| EMB iShares JP Morgan Usd Emergi | 1.15% | 37,995 | $3.7M | New |
| GOVT iShares US Treasury Bond ETF | 1.14% | 159,136 | $3.6M | Add +9.9% |
| CORO Ish Intl CTRY Rot Act ETF | 1.04% | 90,283 | $3.3M | Reduce -0.3% |
| VTV Vanguard Mrngstr Val ETF-Aui | 1.00% | 14,542 | $3.2M | Add +3.1% |
| NLR Vaneck Urani & Nuclr ETF-Usd | 0.98% | 26,873 | $3.1M | Add +26.2% |
| BAI Ishrs AI in and Tech Act ETF | 0.86% | 51,700 | $2.7M | Reduce -24.5% |
| SPEM State Street SP PTF Em ETF | 0.83% | 50,696 | $2.6M | Add +8.1% |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.82% | 51,756 | $2.6M | Add +2.6% |
| XTEN Bondbloxx BBG 10Y US TSY ETF | 0.80% | 55,634 | $2.5M | Reduce -37.5% |
| MUB iShares National Muni Bond E | 0.78% | 23,102 | $2.5M | Add +0.6% |
| BLCR iShares LRG CP CR Act ETF-Ui | 0.73% | 46,213 | $2.3M | Add +4.8% |
| IALT Ishrs SYS Alt Act ETF | 0.71% | 80,322 | $2.3M | New |
| SPMO Invesco S&P 500 Momentum ETF | 0.68% | 13,395 | $2.2M | Reduce -26.6% |
| IVV iShares Core S&P 500 ETF | 0.68% | 2,869 | $2.1M | Add +3.5% |
| GGOV iShares Global GB Usd Ha ETF | 0.63% | 39,852 | $2.0M | New |
| LMUB iShares LT National Muni BD | 0.63% | 38,963 | $2.0M | Add +3.1% |
| THRO iShares U.S. Thematic Rotati | 0.59% | 43,363 | $1.9M | Reduce -31.4% |
| SHLD Global X Defense Tech ETF | 0.46% | 24,468 | $1.5M | Add +24.3% |
| AVEM Avantis Emerging Markets Eq | 0.45% | 14,911 | $1.4M | Reduce -44.8% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.42% | 1,806 | $1.3M | No change |
| IWF iShares Russell 1000 Growth | 0.41% | 10,524 | $1.3M | Add +2.5% |
| BTC Grayscale Bitcoin Mini ETF | 0.40% | 48,919 | $1.3M | Add +0.9% |
| EAGG iShares ESG Aware US Aggrega | 0.35% | 23,298 | $1.1M | Add +2.0% |
| LCTU iShares U.S. Carbon Transiti | 0.35% | 13,720 | $1.1M | Add +4.9% |
| OEF iShares S&P 100 ETF | 0.31% | 2,700 | $988K | Add +1.4% |
| SUSC iShares ESG Aware Usd Corpor | 0.30% | 41,371 | $958K | Reduce -12.7% |
| IEMG iShares Core MSCI Emerging | 0.28% | 10,908 | $904K | Add +0.1% |
| ESGU iShares ESG Aware MSCI USA | 0.28% | 5,505 | $901K | Add +10.5% |
| QUAL iShares MSCI USA Quality Fac | 0.26% | 3,735 | $820K | Reduce -75.3% |
| GOOGL Alphabet Inc. Class A | 0.23% | 2,020 | $722K | No change |
| DSI iShares ESG MSCI KLD 400 ETF | 0.22% | 4,823 | $687K | Reduce -6.7% |
| GLDM SPDR Gold Minishares Trust | 0.21% | 8,470 | $673K | Add +22.7% |
| BINC iShares Flex I A ETF-Usd Inc. | 0.20% | 11,984 | $627K | Reduce -66.8% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.19% | 1,208 | $604K | Reduce -1.2% |
| AAPL Apple Inc. | 0.18% | 1,948 | $564K | Reduce -1.5% |
| SCHV Schwab US Large-Cap Value | 0.17% | 15,618 | $544K | No change |
| SUSB iShares ESG Aware 1-5 Year U | 0.17% | 21,495 | $537K | New |
| EUSB Ishr ESG Advn Universal BD-$ | 0.17% | 12,220 | $531K | Add +3.3% |
| USXF iShares ESG Advance MSCI USA | 0.17% | 7,642 | $531K | Reduce -7.0% |
| AMZN Amazon.com Inc. | 0.17% | 2,218 | $529K | No change |
| ALNY Alnylam Pharmaceuticals Inc. | 0.16% | 1,719 | $517K | Reduce -37.4% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.15% | 5,613 | $484K | Add +0.2% |
| IEFA iShares Core MSCI Eafe ETF | 0.15% | 4,935 | $477K | Add +7.2% |
| EFG iShares MSCI Eafe Growth ETF | 0.14% | 3,541 | $441K | Reduce -0.9% |
| SPTS SS SPDR P St Term TSY ETF | 0.14% | 15,037 | $436K | Reduce -0.6% |
| LLY Eli Lilly & Co. | 0.13% | 354 | $425K | Add +8.6% |
| EFV iShares MSCI Eafe Value ETF | 0.13% | 5,473 | $419K | Reduce -82.7% |
| SYSB iShares Systematic Bond ETF | 0.13% | 4,527 | $402K | Add +7.9% |
| ESGE iShares Inc. iShares ESG Awar | 0.12% | 7,180 | $393K | Reduce -13.2% |
| IWS iShares Russell Mid-Cap Valu | 0.12% | 2,293 | $377K | No change |
| IYW iShares Ustechnology ETF | 0.10% | 1,316 | $332K | Reduce -0.9% |
| JNJ Johnson & Johnson | 0.10% | 1,304 | $331K | New |
| EVUS iShares ESG Aw MSCI US Value | 0.10% | 9,408 | $330K | Add +6.0% |
| IVLU iShares MSCI International V | 0.10% | 7,762 | $325K | Reduce -1.6% |
| JPM JPMorgan Chase & Co. | 0.10% | 939 | $307K | No change |
| AVGO Broadcom Inc. | 0.10% | 809 | $306K | No change |
| CVX Chevron Corp. | 0.10% | 1,828 | $303K | No change |
| NVDA Nvidia Corp. | 0.09% | 1,432 | $287K | Add +2.9% |
| VEA Vanguard Ftse Developed ETF | 0.09% | 3,937 | $281K | No change |
| DMXF iShares ESG Advanc MSCI Eafe | 0.09% | 3,305 | $280K | Add +10.2% |
| VOE Vngrd Mrngstr MD-Cap Val ETF | 0.09% | 1,406 | $278K | No change |
| QQQ Invesco QQQ Trust Series 1 | 0.08% | 356 | $262K | No change |
| STIP iShares 0-5 Year Tips Bond E | 0.08% | 2,452 | $250K | New |
| ABBV Abbvie Inc. | 0.07% | 944 | $238K | No change |
| MSFT Microsoft Corp. | 0.07% | 583 | $218K | Reduce -25.4% |
| IWP iShares Russell Mid-Cap Grow | 0.07% | 1,464 | $214K | New |
| FNDX Schwab Fndmntl US LRG Co. ETF | 0.07% | 6,657 | $207K | New |
| FATE Fate Therapeutics Inc. | 0.02% | 22,222 | $60K | New |
Portfolio Sells Q1 2026 → Q2 2026
| XLP SS Consumer Staples Sel Sect | Sold out | 0.00% | −2.53 |
| XLV SS Health Care Select Sector | Reduce -31.6% | 1.53% | −0.77 |
| QUAL iShares MSCI USA Quality Fac | Reduce -75.3% | 0.26% | −0.76 |
| IAGG iShares Intl Aggregate Bond | Sold out | 0.00% | −0.73 |
| EFV iShares MSCI Eafe Value ETF | Reduce -82.7% | 0.13% | −0.69 |
| XTEN Bondbloxx BBG 10Y US TSY ETF | Reduce -37.5% | 0.80% | −0.63 |
| BINC iShares Flex I A ETF-Usd Inc. | Reduce -66.8% | 0.20% | −0.46 |
| IVE iShares S&P 500 Value ETF | Reduce -17.8% | 1.51% | −0.39 |
| EPI Wisdomtree India Earnings | Sold out | 0.00% | −0.38 |
| IGIB iShares 5-10Y Inv Grade Corp. | Reduce -1.3% | 2.79% | −0.36 |
| AVEM Avantis Emerging Markets Eq | Reduce -44.8% | 0.45% | −0.31 |
| VGIT Vanguard Intermediate-Term T | Sold out | 0.00% | −0.22 |
| THRO iShares U.S. Thematic Rotati | Reduce -31.4% | 0.59% | −0.21 |
| GRNY Fundstr Gran SH US LRG Cap | Reduce -11.2% | 2.47% | −0.21 |
| XOM Exxon Mobil Corp. | Sold out | 0.00% | −0.19 |
| ALNY Alnylam Pharmaceuticals Inc. | Reduce -37.4% | 0.16% | −0.16 |
| VFH Vanguard Financials ETF | Reduce -2.3% | 1.94% | −0.09 |
| SUSC iShares ESG Aware Usd Corpor | Reduce -12.7% | 0.30% | −0.08 |
| FCTE Smi 3FOURTEEN Full-CYCL TRND | Reduce -7.7% | 2.59% | −0.05 |
| SPMO Invesco S&P 500 Momentum ETF | Reduce -26.6% | 0.68% | −0.04 |
| MSFT Microsoft Corp. | Reduce -25.4% | 0.07% | −0.03 |
| SPTS SS SPDR P St Term TSY ETF | Reduce -0.6% | 0.14% | −0.02 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -1.2% | 0.19% | −0.02 |
| ESGE iShares Inc. iShares ESG Awar | Reduce -13.2% | 0.12% | −0.01 |
| IVLU iShares MSCI International V | Reduce -1.6% | 0.10% | −0.01 |
| DSI iShares ESG MSCI KLD 400 ETF | Reduce -6.7% | 0.22% | −0.00 |
| EFG iShares MSCI Eafe Growth ETF | Reduce -0.9% | 0.14% | −0.00 |
| AAPL Apple Inc. | Reduce -1.5% | 0.18% | +0.00 |
| USXF iShares ESG Advance MSCI USA | Reduce -7.0% | 0.17% | +0.01 |
| CORO Ish Intl CTRY Rot Act ETF | Reduce -0.3% | 1.04% | +0.02 |
| IYW iShares Ustechnology ETF | Reduce -0.9% | 0.10% | +0.02 |
| DYNF Ishrs US E F R A ETF-Usd Inc. | Reduce -2.0% | 1.85% | +0.05 |
| BAI Ishrs AI in and Tech Act ETF | Reduce -24.5% | 0.86% | +0.07 |
| IVW iShares S&P 500 Growth ETF | Reduce -3.1% | 1.79% | +0.10 |
| PTF Invesco Dorsey Wright Tech | Reduce -2.4% | 2.12% | +0.59 |
| SOXX iShares Semiconductor ETF | Reduce -7.9% | 2.48% | +0.94 |
Portfolio Buys Q1 2026 → Q2 2026
| SPYM Ste STR SPDR PT S&P 500 ETF | Add +67.0% | 3.86% | +1.62 |
| DRAM Roundhill Memory ETF | New | 1.19% | +1.19 |
| EMB iShares JP Morgan Usd Emergi | New | 1.15% | +1.15 |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | Add +78.8% | 2.32% | +0.87 |
| IALT Ishrs SYS Alt Act ETF | New | 0.71% | +0.71 |
| GGOV iShares Global GB Usd Ha ETF | New | 0.63% | +0.63 |
| VGT Vanguard Info Tech ETF | Add +9.9% | 2.01% | +0.52 |
| XLK SS Technology Select Sector | Add +7.5% | 1.81% | +0.50 |
| EZM Wisdomtree US Midcap Fund | Add +22.1% | 2.61% | +0.50 |
| QQQM Invesco Nasdaq 100 ETF | Add +13.7% | 1.86% | +0.43 |
| PICK iShares MSCI Global Metals & | Add +25.0% | 2.34% | +0.31 |
| ACWX iShares MSCI Acwi Ex US ETF | Add +30.2% | 1.16% | +0.27 |
| XSMO Invesco S&P Smallcap Momentu | Add +2.5% | 1.88% | +0.22 |
| RZV Invesco S&P Smallcap 600 Pur | Add +5.3% | 1.87% | +0.22 |
| VXUS Vanguard Total Intl Stock | Add +11.8% | 2.11% | +0.21 |
| SUSB iShares ESG Aware 1-5 Year U | New | 0.17% | +0.17 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Add +6.8% | 1.83% | +0.12 |
| SCHP Schwab U.S. Tips ETF | Add +18.3% | 1.97% | +0.11 |
| JNJ Johnson & Johnson | New | 0.10% | +0.10 |
| BLCR iShares LRG CP CR Act ETF-Ui | Add +4.8% | 0.73% | +0.10 |
| STIP iShares 0-5 Year Tips Bond E | New | 0.08% | +0.08 |
| IWP iShares Russell Mid-Cap Grow | New | 0.07% | +0.07 |
| FNDX Schwab Fndmntl US LRG Co. ETF | New | 0.07% | +0.07 |
| SPEM State Street SP PTF Em ETF | Add +8.1% | 0.83% | +0.06 |
| IVV iShares Core S&P 500 ETF | Add +3.5% | 0.68% | +0.04 |
| ESGU iShares ESG Aware MSCI USA | Add +10.5% | 0.28% | +0.04 |
| PDBC Invesco Optimum Yield Divers | Add +23.6% | 1.76% | +0.03 |
| LLY Eli Lilly & Co. | Add +8.6% | 0.13% | +0.03 |
| IWF iShares Russell 1000 Growth | Add +2.5% | 0.41% | +0.03 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +3.1% | 1.00% | +0.03 |
| LCTU iShares U.S. Carbon Transiti | Add +4.9% | 0.35% | +0.02 |
| FATE Fate Therapeutics Inc. | New | 0.02% | +0.02 |
| IEMG iShares Core MSCI Emerging | Add +0.1% | 0.28% | +0.02 |
| OEF iShares S&P 100 ETF | Add +1.4% | 0.31% | +0.01 |
| VUG Vanguard Mrngstar GR ETF-Sui | Add +0.2% | 0.15% | +0.01 |
| DMXF iShares ESG Advanc MSCI Eafe | Add +10.2% | 0.09% | +0.01 |
| NVDA Nvidia Corp. | Add +2.9% | 0.09% | +0.01 |
| EVUS iShares ESG Aw MSCI US Value | Add +6.0% | 0.10% | +0.01 |
| IEFA iShares Core MSCI Eafe ETF | Add +7.2% | 0.15% | +0.00 |
| SYSB iShares Systematic Bond ETF | Add +7.9% | 0.13% | −0.00 |
| GLDM SPDR Gold Minishares Trust | Add +22.7% | 0.21% | −0.01 |
| NLR Vaneck Urani & Nuclr ETF-Usd | Add +26.2% | 0.98% | −0.01 |
| EUSB Ishr ESG Advn Universal BD-$ | Add +3.3% | 0.17% | −0.01 |
| GOVT iShares US Treasury Bond ETF | Add +9.9% | 1.14% | −0.02 |
| SHLD Global X Defense Tech ETF | Add +24.3% | 0.46% | −0.03 |
| EAGG iShares ESG Aware US Aggrega | Add +2.0% | 0.35% | −0.03 |
| LMUB iShares LT National Muni BD | Add +3.1% | 0.63% | −0.03 |
| VTEB Vanguard Tax-Exempt Bond ETF | Add +2.6% | 0.82% | −0.06 |
| MUB iShares National Muni Bond E | Add +0.6% | 0.78% | −0.07 |
| BTC Grayscale Bitcoin Mini ETF | Add +0.9% | 0.40% | −0.11 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 99 | $317.3M | SCHZ, XLC, SPYM, MBB, HYLB |
| Q1 2026 | 94 | $284.9M | SCHZ, XLC, MBB, CTA, IGIB |
| Q4 2025 | 101 | $296.9M | SCHZ, XLC, VFH, MBB, GRNY |
| Q3 2025 | 90 | $283.7M | SCHZ, XLC, VFH, MBB, IGIB |
| Q2 2025 | 84 | $263.6M | VFH, SCHZ, XLC, MBB, IGIB |
| Q1 2025 | 81 | $237.1M | SCHZ, VFH, XLV, XLC, MBB |
| Q4 2024 | 74 | $239.1M | SCHZ, VFH, XLC, XLY, QUAL |
| Q3 2024 | 66 | $226.9M | SCHZ, VFH, XLC, QUAL, MBB |
| Q2 2024 | 68 | $211.6M | SCHZ, XLC, VFH, MBB, SPYM |
| Q1 2024 | 73 | $196.4M | SCHZ, MBB, IGIB, SCHP, VGIT |