Theory Financial LLC
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 4, 2025), Theory Financial LLC reported 74 stock positions worth $239.1 million. Its top holding was Schwab US Aggregate Bond ETF (SCHZ) at 12.6% of the portfolio, followed by Vanguard Financials ETF (VFH, 6.8%) and SS Comm Select Sector SPDR (XLC, 5.0%). Compared with Q3 2024, it opened 11 new positions, sold out of 3, added to 41 and reduced 20. The biggest buy was a new position in SS Consumer Disc Select Sect (XLY) 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
- $239.1M (Q4 2024)
- SEC Filing
- 0001085146-25-000715 ↗ filed Feb 4, 2025
Holdings Value
Holdings 74 stocks · $239.1M
| SCHZ Schwab US Aggregate Bond ETF | 12.60% | 1,326,998 | $30.1M | Reduce -46.9% |
| VFH Vanguard Financials ETF | 6.80% | 137,715 | $16.3M | Reduce -2.4% |
| XLC SS Comm Select Sector SPDR | 5.00% | 123,546 | $12.0M | Reduce -5.6% |
| XLY SS Consumer Disc Select Sect | 4.89% | 52,118 | $11.7M | New |
| QUAL iShares MSCI USA Quality Fac | 4.21% | 56,551 | $10.1M | Add +2.0% |
| MBB iShares MBS ETF | 3.96% | 103,203 | $9.5M | Add +4.9% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 3.68% | 127,571 | $8.8M | Add +4.1% |
| IGIB iShares 5-10Y Inv Grade Corp. | 3.04% | 140,961 | $7.3M | Add +3.2% |
| VGT Vanguard Info Tech ETF | 2.71% | 10,405 | $6.5M | Reduce -1.5% |
| PTF Invesco Dorsey Wright Tech | 2.68% | 88,353 | $6.4M | Reduce -10.8% |
| QQQM Invesco Nasdaq 100 ETF | 2.65% | 30,078 | $6.3M | Reduce -1.1% |
| SCHP Schwab U.S. Tips ETF | 2.62% | 242,218 | $6.3M | Reduce -47.6% |
| VGIT Vanguard Intermediate-Term T | 2.41% | 99,265 | $5.8M | Add +3.0% |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | 2.19% | 116,086 | $5.2M | Reduce -18.4% |
| IVW iShares S&P 500 Growth ETF | 1.98% | 46,595 | $4.7M | Add +1.2% |
| FCTE Smi 3FOURTEEN Full-CYCL TRND | 1.97% | 181,287 | $4.7M | Add +29.7% |
| SOXX iShares Semiconductor ETF | 1.95% | 21,673 | $4.7M | Add +3.6% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 1.93% | 60,927 | $4.6M | Add +2.2% |
| SPTS SS SPDR P St Term TSY ETF | 1.90% | 156,652 | $4.5M | Add +4.7% |
| DYNF Ishrs US E F R A ETF-Usd Inc. | 1.78% | 83,213 | $4.3M | Add +1.1% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 1.48% | 17,853 | $3.5M | Add +2.0% |
| EFG iShares MSCI Eafe Growth ETF | 1.44% | 35,458 | $3.4M | Add +24.8% |
| VTV Vanguard Mrngstr Val ETF-Aui | 1.43% | 20,235 | $3.4M | Add +0.1% |
| AIRR First Trust Rba American Ind | 1.40% | 43,338 | $3.3M | Reduce -4.1% |
| EFV iShares MSCI Eafe Value ETF | 1.39% | 63,347 | $3.3M | Add +15.9% |
| RZV Invesco S&P Smallcap 600 Pur | 1.39% | 29,792 | $3.3M | Reduce -1.5% |
| QUS SS SPDR MSCI U Stratfact ETF | 1.38% | 21,341 | $3.3M | Add +0.1% |
| EZM Wisdomtree US Midcap Fund | 1.37% | 52,434 | $3.3M | Reduce -1.3% |
| MUB iShares National Muni Bond E | 1.37% | 30,741 | $3.3M | Add +3.0% |
| XSMO Invesco S&P Smallcap Momentu | 1.36% | 49,181 | $3.3M | Reduce -1.8% |
| EPI Wisdomtree India Earnings | 1.33% | 70,508 | $3.2M | Add +4.5% |
| IVE iShares S&P 500 Value ETF | 0.90% | 11,260 | $2.1M | Add +7.6% |
| IVV iShares Core S&P 500 ETF | 0.82% | 3,344 | $2.0M | Reduce -0.6% |
| EMXC iShares MSCI Emr MRK Ex Chna | 0.82% | 35,202 | $2.0M | Add +7.2% |
| BINC iShares Flex I A ETF-Usd Inc. | 0.77% | 35,340 | $1.8M | Add +7.1% |
| VXUS Vanguard Total Intl Stock | 0.74% | 30,178 | $1.8M | Add +1.9% |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.71% | 33,710 | $1.7M | Reduce -1.5% |
| IYW iShares Ustechnology ETF | 0.68% | 10,209 | $1.6M | Add +0.2% |
| TLT iShares 20+ Year Treasury BD | 0.50% | 13,743 | $1.2M | Add +14.8% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.49% | 1,985 | $1.2M | Add +11.0% |
| SPMO Invesco S&P 500 Momentum ETF | 0.44% | 11,142 | $1.1M | New |
| IWF iShares Russell 1000 Growth | 0.43% | 2,567 | $1.0M | Add +9.3% |
| OEF iShares S&P 100 ETF | 0.41% | 3,365 | $972K | Reduce -0.0% |
| XLE SS Energy Select Sector | 0.39% | 10,908 | $934K | Reduce -77.0% |
| LCTU iShares U.S. Carbon Transiti | 0.36% | 13,595 | $871K | Add +117.5% |
| USXF iShares ESG Advance MSCI USA | 0.34% | 16,196 | $805K | Add +161.1% |
| IEMG iShares Core MSCI Emerging | 0.33% | 15,307 | $799K | Add +11.1% |
| SUSC iShares ESG Aware Usd Corpor | 0.31% | 32,771 | $745K | Add +160.7% |
| ESGU iShares ESG Aware MSCI USA | 0.27% | 5,051 | $651K | Add +31.5% |
| EUSB Ishr ESG Advn Universal BD-$ | 0.25% | 14,212 | $604K | New |
| DSI iShares ESG MSCI KLD 400 ETF | 0.25% | 5,460 | $602K | Add +112.0% |
| EAGG iShares ESG Aware US Aggrega | 0.24% | 12,502 | $581K | New |
| TLH iShares 10-20 Year Treasury | 0.23% | 5,472 | $545K | Add +2.5% |
| AAPL Apple Inc. | 0.21% | 2,031 | $509K | Add +97.0% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.21% | 1,108 | $502K | New |
| GLDM SPDR Gold Minishares Trust | 0.21% | 9,442 | $491K | New |
| AMZN Amazon.com Inc. | 0.20% | 2,197 | $482K | Reduce -2.0% |
| EMB iShares JP Morgan Usd Emergi | 0.18% | 4,756 | $423K | Add +3.4% |
| IFRA iShares US Infrastructure | 0.17% | 8,847 | $410K | Add +5.3% |
| SCHV Schwab US Large-Cap Value | 0.17% | 15,618 | $407K | Reduce -66.7% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.16% | 934 | $383K | New |
| GOOGL Alphabet Inc. Class A | 0.15% | 1,924 | $364K | Reduce -1.5% |
| DMXF iShares ESG Advanc MSCI Eafe | 0.15% | 5,538 | $358K | New |
| IEFA iShares Core MSCI Eafe ETF | 0.15% | 4,954 | $348K | Add +11.2% |
| XOM Exxon Mobil Corp. | 0.14% | 3,213 | $346K | New |
| CVX Chevron Corp. | 0.13% | 2,077 | $301K | Add +10.7% |
| IWS iShares Russell Mid-Cap Valu | 0.12% | 2,293 | $297K | Add +9.6% |
| SUB iShares Short-Term National | 0.12% | 2,653 | $280K | Add +0.9% |
| MSFT Microsoft Corp. | 0.10% | 562 | $237K | No change |
| VOE Vngrd Mrngstr MD-Cap Val ETF | 0.10% | 1,406 | $227K | No change |
| IVLU iShares MSCI International V | 0.10% | 8,388 | $227K | Add +4.0% |
| ESGE iShares Inc. iShares ESG Awar | 0.09% | 6,692 | $223K | New |
| JPM JPMorgan Chase & Co. | 0.09% | 925 | $222K | New |
| GOVT iShares US Treasury Bond ETF | 0.09% | 9,100 | $209K | Reduce -2.5% |
Portfolio Sells Q3 2024 → Q4 2024
| XLP SS Consumer Staples Sel Sect | Sold out | 0.00% | −2.98 |
| XLE SS Energy Select Sector | Reduce -77.0% | 0.39% | −1.46 |
| XLV SS Health Care Select Sector | Sold out | 0.00% | −0.98 |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | Reduce -18.4% | 2.19% | −0.68 |
| XLC SS Comm Select Sector SPDR | Reduce -5.6% | 5.00% | −0.31 |
| VFH Vanguard Financials ETF | Reduce -2.4% | 6.80% | −0.24 |
| GIGB Goldman Sachs Inv GRD Corp. | Sold out | 0.00% | −0.14 |
| SCHZ Schwab US Aggregate Bond ETF | Reduce -46.9% | 12.60% | −0.12 |
| PTF Invesco Dorsey Wright Tech | Reduce -10.8% | 2.68% | −0.12 |
| AIRR First Trust Rba American Ind | Reduce -4.1% | 1.40% | −0.09 |
| XSMO Invesco S&P Smallcap Momentu | Reduce -1.8% | 1.36% | −0.08 |
| EZM Wisdomtree US Midcap Fund | Reduce -1.3% | 1.37% | −0.07 |
| SCHP Schwab U.S. Tips ETF | Reduce -47.6% | 2.62% | −0.06 |
| VTEB Vanguard Tax-Exempt Bond ETF | Reduce -1.5% | 0.71% | −0.05 |
| IVV iShares Core S&P 500 ETF | Reduce -0.6% | 0.82% | −0.02 |
| RZV Invesco S&P Smallcap 600 Pur | Reduce -1.5% | 1.39% | −0.02 |
| QQQM Invesco Nasdaq 100 ETF | Reduce -1.1% | 2.65% | −0.02 |
| SCHV Schwab US Large-Cap Value | Reduce -66.7% | 0.17% | −0.01 |
| GOVT iShares US Treasury Bond ETF | Reduce -2.5% | 0.09% | −0.01 |
| VGT Vanguard Info Tech ETF | Reduce -1.5% | 2.71% | −0.01 |
| OEF iShares S&P 100 ETF | Reduce -0.0% | 0.41% | −0.00 |
| GOOGL Alphabet Inc. Class A | Reduce -1.5% | 0.15% | +0.01 |
| AMZN Amazon.com Inc. | Reduce -2.0% | 0.20% | +0.02 |
Portfolio Buys Q3 2024 → Q4 2024
| XLY SS Consumer Disc Select Sect | New | 4.89% | +4.89 |
| SPMO Invesco S&P 500 Momentum ETF | New | 0.44% | +0.44 |
| FCTE Smi 3FOURTEEN Full-CYCL TRND | Add +29.7% | 1.97% | +0.34 |
| EUSB Ishr ESG Advn Universal BD-$ | New | 0.25% | +0.25 |
| EAGG iShares ESG Aware US Aggrega | New | 0.24% | +0.24 |
| BRK.B Berkshire Hathaway Inc. Class B | New | 0.21% | +0.21 |
| GLDM SPDR Gold Minishares Trust | New | 0.21% | +0.21 |
| USXF iShares ESG Advance MSCI USA | Add +161.1% | 0.34% | +0.20 |
| LCTU iShares U.S. Carbon Transiti | Add +117.5% | 0.36% | +0.19 |
| SUSC iShares ESG Aware Usd Corpor | Add +160.7% | 0.31% | +0.18 |
| EFG iShares MSCI Eafe Growth ETF | Add +24.8% | 1.44% | +0.17 |
| VUG Vanguard Mrngstar GR ETF-Sui | New | 0.16% | +0.16 |
| DMXF iShares ESG Advanc MSCI Eafe | New | 0.15% | +0.15 |
| XOM Exxon Mobil Corp. | New | 0.14% | +0.14 |
| DSI iShares ESG MSCI KLD 400 ETF | Add +112.0% | 0.25% | +0.13 |
| AAPL Apple Inc. | Add +97.0% | 0.21% | +0.11 |
| ESGE iShares Inc. iShares ESG Awar | New | 0.09% | +0.09 |
| JPM JPMorgan Chase & Co. | New | 0.09% | +0.09 |
| EFV iShares MSCI Eafe Value ETF | Add +15.9% | 1.39% | +0.07 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Add +4.1% | 3.68% | +0.07 |
| ESGU iShares ESG Aware MSCI USA | Add +31.5% | 0.27% | +0.06 |
| IVW iShares S&P 500 Growth ETF | Add +1.2% | 1.98% | +0.05 |
| IWF iShares Russell 1000 Growth | Add +9.3% | 0.43% | +0.04 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +11.0% | 0.49% | +0.04 |
| TLT iShares 20+ Year Treasury BD | Add +14.8% | 0.50% | +0.01 |
| IYW iShares Ustechnology ETF | Add +0.2% | 0.68% | +0.00 |
| IWS iShares Russell Mid-Cap Valu | Add +9.6% | 0.12% | +0.00 |
| CVX Chevron Corp. | Add +10.7% | 0.13% | +0.00 |
| BINC iShares Flex I A ETF-Usd Inc. | Add +7.1% | 0.77% | +0.00 |
| IVE iShares S&P 500 Value ETF | Add +7.6% | 0.90% | +0.00 |
| IEFA iShares Core MSCI Eafe ETF | Add +11.2% | 0.15% | +0.00 |
| IFRA iShares US Infrastructure | Add +5.3% | 0.17% | −0.00 |
| IEMG iShares Core MSCI Emerging | Add +11.1% | 0.33% | −0.00 |
| SUB iShares Short-Term National | Add +0.9% | 0.12% | −0.01 |
| IVLU iShares MSCI International V | Add +4.0% | 0.10% | −0.01 |
| EMB iShares JP Morgan Usd Emergi | Add +3.4% | 0.18% | −0.01 |
| DYNF Ishrs US E F R A ETF-Usd Inc. | Add +1.1% | 1.78% | −0.01 |
| TLH iShares 10-20 Year Treasury | Add +2.5% | 0.23% | −0.02 |
| SPTS SS SPDR P St Term TSY ETF | Add +4.7% | 1.90% | −0.02 |
| EMXC iShares MSCI Emr MRK Ex Chna | Add +7.2% | 0.82% | −0.04 |
| MUB iShares National Muni Bond E | Add +3.0% | 1.37% | −0.04 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Add +2.0% | 1.48% | −0.05 |
| SOXX iShares Semiconductor ETF | Add +3.6% | 1.95% | −0.06 |
| VXUS Vanguard Total Intl Stock | Add +1.9% | 0.74% | −0.06 |
| MBB iShares MBS ETF | Add +4.9% | 3.96% | −0.07 |
| EPI Wisdomtree India Earnings | Add +4.5% | 1.33% | −0.07 |
| QUS SS SPDR MSCI U Stratfact ETF | Add +0.1% | 1.38% | −0.08 |
| VGIT Vanguard Intermediate-Term T | Add +3.0% | 2.41% | −0.09 |
| QUAL iShares MSCI USA Quality Fac | Add +2.0% | 4.21% | −0.10 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +0.1% | 1.43% | −0.10 |
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 |