Theory Financial LLC
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 13, 2024), Theory Financial LLC reported 73 stock positions worth $196.4 million. Its top holding was Schwab US Aggregate Bond ETF (SCHZ) at 13.5% of the portfolio, followed by iShares MBS ETF (MBB, 4.4%) and iShares 5-10Y Inv Grade (IGIB, 3.8%). Compared with Q4 2023, it opened 16 new positions, sold out of 12, added to 21 and reduced 33. The biggest buy was a new position in SS Comm Select Sector SPDR (XLC) and the biggest sale an exit from Invesco Water Resources ETF (PHO).
- Most Recent 13F
- Q2 2026
- Location
- FORT COLLINS, CO
- CIK
- 0001899158
- Portfolio Value
- $196.4M (Q1 2024)
- SEC Filing
- 0001085146-24-002421 ↗ filed May 13, 2024
Holdings Value
Holdings 73 stocks · $196.4M
| SCHZ Schwab US Aggregate Bond ETF | 13.54% | 578,135 | $26.6M | Reduce -0.8% |
| MBB iShares MBS ETF | 4.36% | 92,580 | $8.6M | Add +2.5% |
| IGIB iShares 5-10Y Inv Grade Corp. | 3.84% | 146,172 | $7.5M | Reduce -5.3% |
| SCHP Schwab U.S. Tips ETF | 3.15% | 118,586 | $6.2M | Reduce -4.0% |
| VGIT Vanguard Intermediate-Term T | 3.04% | 101,963 | $6.0M | Reduce -5.9% |
| QUAL iShares MSCI USA Quality Fac | 2.96% | 35,355 | $5.8M | Add +2.5% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 2.57% | 81,976 | $5.0M | Add +13.6% |
| SPTS SS SPDR P St Term TSY ETF | 2.33% | 158,525 | $4.6M | Reduce -5.3% |
| AIRR First Trust Rba American Ind | 2.28% | 66,432 | $4.5M | Reduce -7.0% |
| SOXX iShares Semiconductor ETF | 2.20% | 19,101 | $4.3M | Reduce -14.8% |
| XLC SS Comm Select Sector SPDR | 2.17% | 52,275 | $4.3M | New |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 2.16% | 22,140 | $4.2M | Reduce -4.8% |
| VTV Vanguard Mrngstr Val ETF-Aui | 2.16% | 26,079 | $4.2M | Reduce -5.1% |
| XLE SS Energy Select Sector | 2.14% | 44,514 | $4.2M | Add +4.2% |
| VFH Vanguard Financials ETF | 2.13% | 40,833 | $4.2M | Reduce -9.1% |
| XLV SS Health Care Select Sector | 2.12% | 28,208 | $4.2M | New |
| EZM Wisdomtree US Midcap Fund | 2.12% | 68,220 | $4.2M | Reduce -5.0% |
| XOP SS SPDR S&P Og Exp & Prod | 2.09% | 26,531 | $4.1M | Add +7.6% |
| PTF Invesco Dorsey Wright Tech | 2.09% | 71,549 | $4.1M | Reduce -10.9% |
| RZV Invesco S&P Smallcap 600 Pur | 2.08% | 37,976 | $4.1M | Reduce -4.8% |
| QUS SS SPDR MSCI U Stratfact ETF | 2.08% | 28,014 | $4.1M | Reduce -6.1% |
| XSMO Invesco S&P Smallcap Momentu | 2.07% | 67,402 | $4.1M | Reduce -4.9% |
| VGT Vanguard Info Tech ETF | 2.05% | 7,671 | $4.0M | Reduce -10.8% |
| XSD SS SPDR S&P Semiconductor | 2.04% | 17,296 | $4.0M | Reduce -5.3% |
| DGRO iShares Core Dividend Growth | 2.04% | 68,866 | $4.0M | Reduce -4.9% |
| QQQM Invesco Nasdaq 100 ETF | 2.03% | 21,825 | $4.0M | Reduce -9.2% |
| VIG Vanguard Dividend Apprec ETF | 2.03% | 21,809 | $4.0M | Reduce -5.6% |
| HDV iShares Core High Dividend E | 2.00% | 35,674 | $3.9M | Reduce -2.8% |
| VXUS Vanguard Total Intl Stock | 1.99% | 64,865 | $3.9M | Reduce -3.0% |
| EPI Wisdomtree India Earnings | 1.97% | 89,041 | $3.9M | Reduce -8.4% |
| QQQE Dirx Nasdaq-100EQ Wi ETF-Usd | 1.95% | 42,957 | $3.8M | New |
| ARTY iShares Future AI & Tech ETF | 1.90% | 108,904 | $3.7M | Reduce -2.1% |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | 1.37% | 58,856 | $2.7M | Add +210.3% |
| MUB iShares National Muni Bond E | 1.09% | 19,835 | $2.1M | Add +27.8% |
| SCHV Schwab US Large-Cap Value | 0.94% | 24,296 | $1.8M | Reduce -38.6% |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.78% | 30,414 | $1.5M | Reduce -0.1% |
| DYNF Ishrs US E F R A ETF-Usd Inc. | 0.78% | 34,437 | $1.5M | New |
| IVW iShares S&P 500 Growth ETF | 0.68% | 15,766 | $1.3M | Add +194.9% |
| EFG iShares MSCI Eafe Growth ETF | 0.56% | 10,506 | $1.1M | Add +55.3% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.50% | 1,872 | $979K | Add +4.3% |
| EFV iShares MSCI Eafe Value ETF | 0.49% | 17,572 | $956K | Add +12.7% |
| IVE iShares S&P 500 Value ETF | 0.48% | 5,057 | $945K | New |
| IVV iShares Core S&P 500 ETF | 0.47% | 1,771 | $931K | Add +21.9% |
| IYW iShares Ustechnology ETF | 0.42% | 6,068 | $820K | Add +47.5% |
| IWF iShares Russell 1000 Growth | 0.40% | 2,326 | $784K | Add +0.3% |
| EMXC iShares MSCI Emr MRK Ex Chna | 0.35% | 12,008 | $691K | Add +130.5% |
| TLT iShares 20+ Year Treasury BD | 0.32% | 6,733 | $637K | Add +44.0% |
| IEFA iShares Core MSCI Eafe ETF | 0.29% | 7,670 | $569K | Add +137.4% |
| ESGU iShares ESG Aware MSCI USA | 0.28% | 4,846 | $557K | Reduce -13.8% |
| SUB iShares Short-Term National | 0.28% | 5,241 | $549K | Add +10.1% |
| OEF iShares S&P 100 ETF | 0.27% | 2,180 | $539K | Reduce -36.1% |
| BINC iShares Flex I A ETF-Usd Inc. | 0.27% | 9,948 | $522K | New |
| TLH iShares 10-20 Year Treasury | 0.25% | 4,625 | $486K | Add +18.3% |
| HEFA Isha Curr Hedged MSCI Eafe | 0.22% | 12,590 | $439K | New |
| AMZN Amazon.com Inc. | 0.21% | 2,335 | $421K | Reduce -11.6% |
| GWW WW Grainger Inc. filed as GRAINGER W W INC | 0.21% | 400 | $407K | No change |
| LCTU iShares U.S. Carbon Transiti | 0.20% | 6,789 | $390K | New |
| IWS iShares Russell Mid-Cap Valu | 0.18% | 2,809 | $352K | Add +51.2% |
| IEMG iShares Core MSCI Emerging | 0.18% | 6,666 | $344K | Reduce -14.8% |
| GOOGL Alphabet Inc. Class A | 0.15% | 1,989 | $300K | Reduce -2.6% |
| CVX Chevron Corp. | 0.15% | 1,903 | $300K | No change |
| IXC iShares Global Energy ETF | 0.15% | 6,934 | $298K | New |
| XLK SS Technology Select Sector | 0.15% | 1,423 | $296K | New |
| EMB iShares JP Morgan Usd Emergi | 0.14% | 3,111 | $279K | New |
| DSI iShares ESG MSCI KLD 400 ETF | 0.14% | 2,707 | $273K | New |
| USXF iShares ESG Advance MSCI USA | 0.13% | 5,618 | $254K | New |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 0.13% | 1,050 | $252K | Add +1.6% |
| SUSC iShares ESG Aware Usd Corpor | 0.13% | 10,883 | $250K | New |
| MSFT Microsoft Corp. | 0.13% | 585 | $246K | Reduce -63.3% |
| IVLU iShares MSCI International V | 0.12% | 8,597 | $243K | Reduce -0.7% |
| VOE Vngrd Mrngstr MD-Cap Val ETF | 0.11% | 1,406 | $219K | No change |
| IWP iShares Russell Mid-Cap Grow | 0.11% | 1,847 | $211K | New |
| QQQ Invesco QQQ Trust Series 1 | 0.11% | 474 | $210K | New |
Portfolio Sells Q4 2023 → Q1 2024
| PHO Invesco Water Resources ETF | Sold out | 0.00% | −2.19 |
| IAUM iShares Gold Trust Micro | Sold out | 0.00% | −2.11 |
| IGE iShares North American Natur | Sold out | 0.00% | −1.96 |
| SCHZ Schwab US Aggregate Bond ETF | Reduce -0.8% | 13.54% | −0.97 |
| SCHV Schwab US Large-Cap Value | Reduce -38.6% | 0.94% | −0.54 |
| IGIB iShares 5-10Y Inv Grade Corp. | Reduce -5.3% | 3.84% | −0.45 |
| VGIT Vanguard Intermediate-Term T | Reduce -5.9% | 3.04% | −0.40 |
| ABBV Abbvie Inc. | Sold out | 0.00% | −0.32 |
| SCHP Schwab U.S. Tips ETF | Reduce -4.0% | 3.15% | −0.30 |
| TFLO iShares Treasury Floating Ra | Sold out | 0.00% | −0.29 |
| SPTS SS SPDR P St Term TSY ETF | Reduce -5.3% | 2.33% | −0.26 |
| RZV Invesco S&P Smallcap 600 Pur | Reduce -4.8% | 2.08% | −0.21 |
| MSFT Microsoft Corp. | Reduce -63.3% | 0.13% | −0.19 |
| PEP Pepsico Inc. | Sold out | 0.00% | −0.19 |
| ABT Abbott Laboratories | Sold out | 0.00% | −0.19 |
| VGT Vanguard Info Tech ETF | Reduce -10.8% | 2.05% | −0.18 |
| XOM Exxon Mobil Corp. | Sold out | 0.00% | −0.17 |
| EPI Wisdomtree India Earnings | Reduce -8.4% | 1.97% | −0.15 |
| AAPL Apple Inc. | Sold out | 0.00% | −0.15 |
| XSD SS SPDR S&P Semiconductor | Reduce -5.3% | 2.04% | −0.15 |
| ARTY iShares Future AI & Tech ETF | Reduce -2.1% | 1.90% | −0.15 |
| QQQM Invesco Nasdaq 100 ETF | Reduce -9.2% | 2.03% | −0.13 |
| OEF iShares S&P 100 ETF | Reduce -36.1% | 0.27% | −0.13 |
| SCHI Schwab 5-10 Year Corporate B | Sold out | 0.00% | −0.13 |
| USMV iShares MSCI USA Min Vol Fac | Sold out | 0.00% | −0.12 |
| NEE Nextera Energy Inc. | Sold out | 0.00% | −0.12 |
| SOXX iShares Semiconductor ETF | Reduce -14.8% | 2.20% | −0.10 |
| VFH Vanguard Financials ETF | Reduce -9.1% | 2.13% | −0.08 |
| EZM Wisdomtree US Midcap Fund | Reduce -5.0% | 2.12% | −0.08 |
| VXUS Vanguard Total Intl Stock | Reduce -3.0% | 1.99% | −0.08 |
| PTF Invesco Dorsey Wright Tech | Reduce -10.9% | 2.09% | −0.08 |
| XSMO Invesco S&P Smallcap Momentu | Reduce -4.9% | 2.07% | −0.08 |
| VIG Vanguard Dividend Apprec ETF | Reduce -5.6% | 2.03% | −0.07 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Reduce -4.8% | 2.16% | −0.07 |
| DGRO iShares Core Dividend Growth | Reduce -4.9% | 2.04% | −0.05 |
| VTEB Vanguard Tax-Exempt Bond ETF | Reduce -0.1% | 0.78% | −0.05 |
| IEMG iShares Core MSCI Emerging | Reduce -14.8% | 0.18% | −0.04 |
| VTV Vanguard Mrngstr Val ETF-Aui | Reduce -5.1% | 2.16% | −0.03 |
| ESGU iShares ESG Aware MSCI USA | Reduce -13.8% | 0.28% | −0.03 |
| QUS SS SPDR MSCI U Stratfact ETF | Reduce -6.1% | 2.08% | −0.03 |
| AMZN Amazon.com Inc. | Reduce -11.6% | 0.21% | 0.00 |
| GOOGL Alphabet Inc. Class A | Reduce -2.6% | 0.15% | +0.00 |
| IVLU iShares MSCI International V | Reduce -0.7% | 0.12% | +0.00 |
| HDV iShares Core High Dividend E | Reduce -2.8% | 2.00% | +0.00 |
| AIRR First Trust Rba American Ind | Reduce -7.0% | 2.28% | +0.07 |
Portfolio Buys Q4 2023 → Q1 2024
| XLC SS Comm Select Sector SPDR | New | 2.17% | +2.17 |
| XLV SS Health Care Select Sector | New | 2.12% | +2.12 |
| QQQE Dirx Nasdaq-100EQ Wi ETF-Usd | New | 1.95% | +1.95 |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | Add +210.3% | 1.37% | +0.90 |
| DYNF Ishrs US E F R A ETF-Usd Inc. | New | 0.78% | +0.78 |
| IVE iShares S&P 500 Value ETF | New | 0.48% | +0.48 |
| IVW iShares S&P 500 Growth ETF | Add +194.9% | 0.68% | +0.46 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Add +13.6% | 2.57% | +0.41 |
| XOP SS SPDR S&P Og Exp & Prod | Add +7.6% | 2.09% | +0.29 |
| BINC iShares Flex I A ETF-Usd Inc. | New | 0.27% | +0.27 |
| QUAL iShares MSCI USA Quality Fac | Add +2.5% | 2.96% | +0.25 |
| XLE SS Energy Select Sector | Add +4.2% | 2.14% | +0.23 |
| HEFA Isha Curr Hedged MSCI Eafe | New | 0.22% | +0.22 |
| EFG iShares MSCI Eafe Growth ETF | Add +55.3% | 0.56% | +0.21 |
| LCTU iShares U.S. Carbon Transiti | New | 0.20% | +0.20 |
| EMXC iShares MSCI Emr MRK Ex Chna | Add +130.5% | 0.35% | +0.20 |
| MUB iShares National Muni Bond E | Add +27.8% | 1.09% | +0.19 |
| IEFA iShares Core MSCI Eafe ETF | Add +137.4% | 0.29% | +0.17 |
| IXC iShares Global Energy ETF | New | 0.15% | +0.15 |
| XLK SS Technology Select Sector | New | 0.15% | +0.15 |
| IYW iShares Ustechnology ETF | Add +47.5% | 0.42% | +0.15 |
| EMB iShares JP Morgan Usd Emergi | New | 0.14% | +0.14 |
| DSI iShares ESG MSCI KLD 400 ETF | New | 0.14% | +0.14 |
| USXF iShares ESG Advance MSCI USA | New | 0.13% | +0.13 |
| SUSC iShares ESG Aware Usd Corpor | New | 0.13% | +0.13 |
| IWP iShares Russell Mid-Cap Grow | New | 0.11% | +0.11 |
| QQQ Invesco QQQ Trust Series 1 | New | 0.11% | +0.11 |
| IVV iShares Core S&P 500 ETF | Add +21.9% | 0.47% | +0.10 |
| TLT iShares 20+ Year Treasury BD | Add +44.0% | 0.32% | +0.08 |
| IWS iShares Russell Mid-Cap Valu | Add +51.2% | 0.18% | +0.06 |
| EFV iShares MSCI Eafe Value ETF | Add +12.7% | 0.49% | +0.05 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +4.3% | 0.50% | +0.04 |
| IWF iShares Russell 1000 Growth | Add +0.3% | 0.40% | +0.02 |
| TLH iShares 10-20 Year Treasury | Add +18.3% | 0.25% | +0.02 |
| SUB iShares Short-Term National | Add +10.1% | 0.28% | +0.01 |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | Add +1.6% | 0.13% | +0.01 |
| MBB iShares MBS ETF | Add +2.5% | 4.36% | −0.18 |
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 |