Theory Financial LLC
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 7, 2024), Theory Financial LLC reported 66 stock positions worth $226.9 million. Its top holding was Schwab US Aggregate Bond ETF (SCHZ) at 12.7% of the portfolio, followed by Vanguard Financials ETF (VFH, 7.0%) and SS Comm Select Sector SPDR (XLC, 5.3%). Compared with Q2 2024, it opened 3 new positions, sold out of 5, added to 37 and reduced 21. The biggest buy was Vanguard Financials ETF (VFH, shares +37%) and the biggest sale an exit from SS Technology Select Sector (XLK).
- Most Recent 13F
- Q2 2026
- Location
- FORT COLLINS, CO
- CIK
- 0001899158
- Portfolio Value
- $226.9M (Q3 2024)
- SEC Filing
- 0001085146-24-005400 ↗ filed Nov 7, 2024
Holdings Value
Holdings 66 stocks · $226.9M
| SCHZ Schwab US Aggregate Bond ETF | 12.72% | 1,249,993 | $28.9M | Add +112.0% |
| VFH Vanguard Financials ETF | 7.04% | 141,151 | $16.0M | Add +36.6% |
| XLC SS Comm Select Sector SPDR | 5.31% | 130,915 | $12.0M | Add +2.3% |
| QUAL iShares MSCI USA Quality Fac | 4.31% | 55,434 | $9.8M | Add +23.9% |
| MBB iShares MBS ETF | 4.02% | 98,360 | $9.1M | Add +2.5% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 3.61% | 122,570 | $8.2M | Reduce -3.1% |
| IGIB iShares 5-10Y Inv Grade Corp. | 3.14% | 136,555 | $7.1M | Add +1.1% |
| XLP SS Consumer Staples Sel Sect | 2.98% | 84,329 | $6.8M | Add +50.8% |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | 2.87% | 142,168 | $6.5M | Add +34.8% |
| PTF Invesco Dorsey Wright Tech | 2.80% | 99,014 | $6.4M | Add +22.3% |
| VGT Vanguard Info Tech ETF | 2.71% | 10,563 | $6.2M | Add +19.1% |
| SCHP Schwab U.S. Tips ETF | 2.68% | 231,031 | $6.1M | Add +107.5% |
| QQQM Invesco Nasdaq 100 ETF | 2.67% | 30,408 | $6.1M | Add +32.2% |
| VGIT Vanguard Intermediate-Term T | 2.50% | 96,356 | $5.7M | Add +3.3% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 2.10% | 59,631 | $4.8M | Add +40.9% |
| SOXX iShares Semiconductor ETF | 2.01% | 20,924 | $4.6M | Add +8.7% |
| IVW iShares S&P 500 Growth ETF | 1.93% | 46,030 | $4.4M | Add +2.4% |
| SPTS SS SPDR P St Term TSY ETF | 1.92% | 149,641 | $4.4M | Add +2.4% |
| XLE SS Energy Select Sector | 1.85% | 47,388 | $4.2M | Add +14.2% |
| DYNF Ishrs US E F R A ETF-Usd Inc. | 1.80% | 82,334 | $4.1M | Add +12.3% |
| FCTE Smi 3FOURTEEN Full-CYCL TRND | 1.63% | 139,796 | $3.7M | New |
| VTV Vanguard Mrngstr Val ETF-Aui | 1.53% | 20,208 | $3.5M | Reduce -3.3% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 1.53% | 17,496 | $3.5M | Reduce -2.4% |
| AIRR First Trust Rba American Ind | 1.48% | 45,204 | $3.4M | Reduce -29.2% |
| QUS SS SPDR MSCI U Stratfact ETF | 1.46% | 21,321 | $3.3M | Reduce -4.4% |
| XSMO Invesco S&P Smallcap Momentu | 1.44% | 50,063 | $3.3M | Reduce -7.0% |
| EZM Wisdomtree US Midcap Fund | 1.44% | 53,102 | $3.3M | Reduce -2.2% |
| RZV Invesco S&P Smallcap 600 Pur | 1.41% | 30,237 | $3.2M | Reduce -2.5% |
| MUB iShares National Muni Bond E | 1.41% | 29,844 | $3.2M | Add +0.7% |
| EPI Wisdomtree India Earnings | 1.41% | 67,445 | $3.2M | Reduce -5.8% |
| EFV iShares MSCI Eafe Value ETF | 1.32% | 54,663 | $3.0M | Add +150.7% |
| EFG iShares MSCI Eafe Growth ETF | 1.26% | 28,420 | $2.9M | Add +0.7% |
| XLV SS Health Care Select Sector | 0.98% | 15,065 | $2.2M | Reduce -17.3% |
| IVE iShares S&P 500 Value ETF | 0.90% | 10,466 | $2.0M | Add +11.0% |
| EMXC iShares MSCI Emr MRK Ex Chna | 0.85% | 32,844 | $1.9M | Add +50.0% |
| IVV iShares Core S&P 500 ETF | 0.85% | 3,365 | $1.9M | Add +10.5% |
| VXUS Vanguard Total Intl Stock | 0.81% | 29,624 | $1.8M | Reduce -13.4% |
| BINC iShares Flex I A ETF-Usd Inc. | 0.77% | 33,006 | $1.7M | Add +66.6% |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.76% | 34,220 | $1.7M | Add +10.8% |
| IYW iShares Ustechnology ETF | 0.68% | 10,186 | $1.5M | Reduce -0.9% |
| TLT iShares 20+ Year Treasury BD | 0.49% | 11,970 | $1.1M | Reduce -13.3% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.45% | 1,788 | $1.0M | Reduce -6.1% |
| OEF iShares S&P 100 ETF | 0.41% | 3,366 | $926K | Add +26.4% |
| IWF iShares Russell 1000 Growth | 0.39% | 2,348 | $878K | Add +0.9% |
| IEMG iShares Core MSCI Emerging | 0.34% | 13,781 | $766K | Reduce -34.6% |
| TLH iShares 10-20 Year Treasury | 0.24% | 5,339 | $553K | Add +9.3% |
| ESGU iShares ESG Aware MSCI USA | 0.21% | 3,842 | $479K | Add +12.3% |
| EMB iShares JP Morgan Usd Emergi | 0.18% | 4,599 | $418K | Reduce -0.2% |
| AMZN Amazon.com Inc. | 0.18% | 2,242 | $418K | Reduce -1.5% |
| SCHV Schwab US Large-Cap Value | 0.18% | 15,618 | $414K | Add +19.8% |
| IFRA iShares US Infrastructure | 0.17% | 8,400 | $394K | Add +9.6% |
| LCTU iShares U.S. Carbon Transiti | 0.17% | 6,249 | $388K | Reduce -2.8% |
| GOOGL Alphabet Inc. Class A | 0.15% | 1,953 | $334K | Reduce -1.8% |
| IEFA iShares Core MSCI Eafe ETF | 0.14% | 4,456 | $329K | Add +2.3% |
| GIGB Goldman Sachs Inv GRD Corp. | 0.14% | 6,742 | $309K | Add +23.2% |
| USXF iShares ESG Advance MSCI USA | 0.13% | 6,204 | $305K | Add +11.9% |
| SUSC iShares ESG Aware Usd Corpor | 0.13% | 12,572 | $290K | Add +24.1% |
| CVX Chevron Corp. | 0.12% | 1,877 | $279K | No change |
| DSI iShares ESG MSCI KLD 400 ETF | 0.12% | 2,575 | $277K | Reduce -4.0% |
| SUB iShares Short-Term National | 0.12% | 2,628 | $277K | Reduce -41.2% |
| IWS iShares Russell Mid-Cap Valu | 0.12% | 2,093 | $273K | No change |
| VOE Vngrd Mrngstr MD-Cap Val ETF | 0.10% | 1,406 | $233K | No change |
| AAPL Apple Inc. | 0.10% | 1,031 | $233K | No change |
| MSFT Microsoft Corp. | 0.10% | 562 | $228K | No change |
| IVLU iShares MSCI International V | 0.10% | 8,064 | $228K | New |
| GOVT iShares US Treasury Bond ETF | 0.09% | 9,332 | $213K | New |
Portfolio Sells Q2 2024 → Q3 2024
| XLK SS Technology Select Sector | Sold out | 0.00% | −3.76 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Sold out | 0.00% | −1.76 |
| EWJ iShares MSCI Japan ETF | Sold out | 0.00% | −0.73 |
| AIRR First Trust Rba American Ind | Reduce -29.2% | 1.48% | −0.58 |
| XLV SS Health Care Select Sector | Reduce -17.3% | 0.98% | −0.28 |
| HEFA Isha Curr Hedged MSCI Eafe | Sold out | 0.00% | −0.27 |
| EPI Wisdomtree India Earnings | Reduce -5.8% | 1.41% | −0.23 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Reduce -3.1% | 3.61% | −0.21 |
| IEMG iShares Core MSCI Emerging | Reduce -34.6% | 0.34% | −0.20 |
| VXUS Vanguard Total Intl Stock | Reduce -13.4% | 0.81% | −0.17 |
| QQQ Invesco QQQ Trust Series 1 | Sold out | 0.00% | −0.12 |
| TLT iShares 20+ Year Treasury BD | Reduce -13.3% | 0.49% | −0.11 |
| SUB iShares Short-Term National | Reduce -41.2% | 0.12% | −0.10 |
| QUS SS SPDR MSCI U Stratfact ETF | Reduce -4.4% | 1.46% | −0.09 |
| XSMO Invesco S&P Smallcap Momentu | Reduce -7.0% | 1.44% | −0.09 |
| IYW iShares Ustechnology ETF | Reduce -0.9% | 0.68% | −0.05 |
| VTV Vanguard Mrngstr Val ETF-Aui | Reduce -3.3% | 1.53% | −0.05 |
| RZV Invesco S&P Smallcap 600 Pur | Reduce -2.5% | 1.41% | −0.04 |
| EZM Wisdomtree US Midcap Fund | Reduce -2.2% | 1.44% | −0.04 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -6.1% | 0.45% | −0.04 |
| GOOGL Alphabet Inc. Class A | Reduce -1.8% | 0.15% | −0.02 |
| AMZN Amazon.com Inc. | Reduce -1.5% | 0.18% | −0.02 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Reduce -2.4% | 1.53% | −0.01 |
| LCTU iShares U.S. Carbon Transiti | Reduce -2.8% | 0.17% | −0.01 |
| DSI iShares ESG MSCI KLD 400 ETF | Reduce -4.0% | 0.12% | −0.01 |
| EMB iShares JP Morgan Usd Emergi | Reduce -0.2% | 0.18% | −0.01 |
Portfolio Buys Q2 2024 → Q3 2024
| VFH Vanguard Financials ETF | Add +36.6% | 7.04% | +2.17 |
| FCTE Smi 3FOURTEEN Full-CYCL TRND | New | 1.63% | +1.63 |
| XLP SS Consumer Staples Sel Sect | Add +50.8% | 2.98% | +0.95 |
| EFV iShares MSCI Eafe Value ETF | Add +150.7% | 1.32% | +0.78 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Add +40.9% | 2.10% | +0.74 |
| QUAL iShares MSCI USA Quality Fac | Add +23.9% | 4.31% | +0.70 |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | Add +34.8% | 2.87% | +0.62 |
| QQQM Invesco Nasdaq 100 ETF | Add +32.2% | 2.67% | +0.53 |
| PTF Invesco Dorsey Wright Tech | Add +22.3% | 2.80% | +0.43 |
| VGT Vanguard Info Tech ETF | Add +19.1% | 2.71% | +0.29 |
| BINC iShares Flex I A ETF-Usd Inc. | Add +66.6% | 0.77% | +0.28 |
| EMXC iShares MSCI Emr MRK Ex Chna | Add +50.0% | 0.85% | +0.24 |
| DYNF Ishrs US E F R A ETF-Usd Inc. | Add +12.3% | 1.80% | +0.17 |
| XLC SS Comm Select Sector SPDR | Add +2.3% | 5.31% | +0.13 |
| IVLU iShares MSCI International V | New | 0.10% | +0.10 |
| GOVT iShares US Treasury Bond ETF | New | 0.09% | +0.09 |
| IVE iShares S&P 500 Value ETF | Add +11.0% | 0.90% | +0.09 |
| OEF iShares S&P 100 ETF | Add +26.4% | 0.41% | +0.08 |
| XLE SS Energy Select Sector | Add +14.2% | 1.85% | +0.06 |
| IVV iShares Core S&P 500 ETF | Add +10.5% | 0.85% | +0.06 |
| VTEB Vanguard Tax-Exempt Bond ETF | Add +10.8% | 0.76% | +0.03 |
| IFRA iShares US Infrastructure | Add +9.6% | 0.17% | +0.02 |
| GIGB Goldman Sachs Inv GRD Corp. | Add +23.2% | 0.14% | +0.02 |
| SUSC iShares ESG Aware Usd Corpor | Add +24.1% | 0.13% | +0.02 |
| ESGU iShares ESG Aware MSCI USA | Add +12.3% | 0.21% | +0.02 |
| SCHZ Schwab US Aggregate Bond ETF | Add +112.0% | 12.72% | +0.02 |
| USXF iShares ESG Advance MSCI USA | Add +11.9% | 0.13% | +0.01 |
| TLH iShares 10-20 Year Treasury | Add +9.3% | 0.24% | +0.01 |
| IEFA iShares Core MSCI Eafe ETF | Add +2.3% | 0.14% | −0.00 |
| IWF iShares Russell 1000 Growth | Add +0.9% | 0.39% | −0.01 |
| IVW iShares S&P 500 Growth ETF | Add +2.4% | 1.93% | −0.04 |
| SCHP Schwab U.S. Tips ETF | Add +107.5% | 2.68% | −0.06 |
| VGIT Vanguard Intermediate-Term T | Add +3.3% | 2.50% | −0.07 |
| SPTS SS SPDR P St Term TSY ETF | Add +2.4% | 1.92% | −0.07 |
| MUB iShares National Muni Bond E | Add +0.7% | 1.41% | −0.09 |
| EFG iShares MSCI Eafe Growth ETF | Add +0.7% | 1.26% | −0.10 |
| IGIB iShares 5-10Y Inv Grade Corp. | Add +1.1% | 3.14% | −0.13 |
| MBB iShares MBS ETF | Add +2.5% | 4.02% | −0.14 |
| SOXX iShares Semiconductor ETF | Add +8.7% | 2.01% | −0.23 |
| SCHV Schwab US Large-Cap Value | Add +19.8% | 0.18% | −0.27 |
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 |