Theory Financial LLC
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 5, 2026), Theory Financial LLC reported 94 stock positions worth $284.9 million. Its top holding was Schwab US Aggregate Bond ETF (SCHZ) at 7.7% of the portfolio, followed by SS Comm Select Sector SPDR (XLC, 7.2%) and iShares MBS ETF (MBB, 3.7%). Compared with Q4 2025, it opened 5 new positions, sold out of 12, added to 35 and reduced 37. The biggest buy was SS Consumer Staples Sel Sect (XLP, shares +1853%) and the biggest sale Vanguard Financials ETF (VFH, shares −67%).
- Most Recent 13F
- Q2 2026
- Location
- FORT COLLINS, CO
- CIK
- 0001899158
- Portfolio Value
- $284.9M (Q1 2026)
- SEC Filing
- 0001899158-26-000002 ↗ filed May 5, 2026
Holdings Value
Holdings 94 stocks · $284.9M
| SCHZ Schwab US Aggregate Bond ETF | 7.71% | 946,329 | $22.0M | Reduce -16.9% |
| XLC SS Comm Select Sector SPDR | 7.23% | 185,823 | $20.6M | Reduce -9.4% |
| MBB iShares MBS ETF | 3.73% | 111,949 | $10.6M | Add +1.2% |
| CTA Simplify Managed Futures St | 3.59% | 338,200 | $10.2M | Add +71.5% |
| IGIB iShares 5-10Y Inv Grade Corp. | 3.14% | 168,331 | $9.0M | Reduce -1.0% |
| HYLB Xtrackers Usd High Yield Cor | 3.13% | 246,269 | $8.9M | Add +6.9% |
| GRNY Fundstr Gran SH US LRG Cap | 2.68% | 319,543 | $7.6M | Reduce -12.4% |
| FCTE Smi 3FOURTEEN Full-CYCL TRND | 2.64% | 304,894 | $7.5M | Add +243.9% |
| XLP SS Consumer Staples Sel Sect | 2.53% | 87,992 | $7.2M | Add +1853.2% |
| XLV SS Health Care Select Sector | 2.30% | 44,762 | $6.6M | Add +64.4% |
| GLD SPDR Gold Shares | 2.27% | 15,010 | $6.5M | Add +35.1% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 2.24% | 83,451 | $6.4M | Add +25.2% |
| EZM Wisdomtree US Midcap Fund | 2.11% | 89,563 | $6.0M | Add +26.8% |
| VFH Vanguard Financials ETF | 2.03% | 47,928 | $5.8M | Reduce -66.6% |
| PICK iShares MSCI Global Metals & | 2.03% | 102,094 | $5.8M | Add +117.6% |
| IVE iShares S&P 500 Value ETF | 1.90% | 25,705 | $5.4M | Reduce -5.8% |
| VXUS Vanguard Total Intl Stock | 1.89% | 69,927 | $5.4M | Reduce -6.5% |
| SCHP Schwab U.S. Tips ETF | 1.86% | 199,063 | $5.3M | Reduce -12.6% |
| DYNF Ishrs US E F R A ETF-Usd Inc. | 1.80% | 88,140 | $5.1M | Reduce -16.9% |
| PDBC Invesco Optimum Yield Divers | 1.73% | 285,094 | $4.9M | Add +71.3% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 1.71% | 22,428 | $4.9M | Add +29.4% |
| IVW iShares S&P 500 Growth ETF | 1.69% | 42,611 | $4.8M | Add +0.9% |
| XSMO Invesco S&P Smallcap Momentu | 1.65% | 61,993 | $4.7M | Add +29.9% |
| RZV Invesco S&P Smallcap 600 Pur | 1.65% | 37,781 | $4.7M | Add +33.4% |
| SOXX iShares Semiconductor ETF | 1.54% | 13,323 | $4.4M | Reduce -22.0% |
| PTF Invesco Dorsey Wright Tech | 1.53% | 50,614 | $4.4M | Reduce -25.3% |
| VGT Vanguard Info Tech ETF | 1.49% | 6,071 | $4.2M | Reduce -15.0% |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | 1.45% | 89,293 | $4.1M | Add +5.5% |
| XTEN Bondbloxx BBG 10Y US TSY ETF | 1.43% | 89,028 | $4.1M | Add +4.0% |
| QQQM Invesco Nasdaq 100 ETF | 1.43% | 17,105 | $4.1M | Reduce -17.6% |
| XLK SS Technology Select Sector | 1.31% | 28,111 | $3.7M | Reduce -7.9% |
| GOVT iShares US Treasury Bond ETF | 1.16% | 144,851 | $3.3M | Add +700.9% |
| CORO Ish Intl CTRY Rot Act ETF | 1.02% | 90,570 | $2.9M | New |
| QUAL iShares MSCI USA Quality Fac | 1.02% | 15,138 | $2.9M | Reduce -49.4% |
| NLR Vaneck Urani & Nuclr ETF-Usd | 1.00% | 21,291 | $2.8M | Reduce -2.9% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.97% | 14,108 | $2.8M | Add +46.5% |
| ACWX iShares MSCI Acwi Ex US ETF | 0.90% | 37,246 | $2.6M | New |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.88% | 50,438 | $2.5M | No change |
| MUB iShares National Muni Bond E | 0.86% | 22,963 | $2.4M | Add +3.6% |
| EFV iShares MSCI Eafe Value ETF | 0.82% | 31,579 | $2.3M | Reduce -41.2% |
| THRO iShares U.S. Thematic Rotati | 0.80% | 63,221 | $2.3M | Add +0.8% |
| BAI Ishrs AI in and Tech Act ETF | 0.79% | 68,517 | $2.3M | Add +0.5% |
| SPEM State Street SP PTF Em ETF | 0.77% | 46,888 | $2.2M | Add +76.3% |
| AVEM Avantis Emerging Markets Eq | 0.76% | 27,027 | $2.2M | Add +25.4% |
| IAGG iShares Intl Aggregate Bond | 0.73% | 41,440 | $2.1M | Add +7.2% |
| SPMO Invesco S&P 500 Momentum ETF | 0.72% | 18,256 | $2.0M | Reduce -0.7% |
| LMUB iShares LT National Muni BD | 0.66% | 37,773 | $1.9M | New |
| BINC iShares Flex I A ETF-Usd Inc. | 0.66% | 36,132 | $1.9M | Reduce -24.2% |
| IVV iShares Core S&P 500 ETF | 0.64% | 2,773 | $1.8M | Add +2.5% |
| BLCR iShares LRG CP CR Act ETF-Ui | 0.64% | 44,105 | $1.8M | New |
| BTC Grayscale Bitcoin Mini ETF | 0.51% | 48,476 | $1.5M | Reduce -18.6% |
| SHLD Global X Defense Tech ETF | 0.49% | 19,686 | $1.4M | Add +71.5% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.41% | 1,806 | $1.2M | Reduce -0.8% |
| SUSC iShares ESG Aware Usd Corpor | 0.38% | 47,390 | $1.1M | Add +9.0% |
| IWF iShares Russell 1000 Growth | 0.38% | 2,567 | $1.1M | No change |
| EPI Wisdomtree India Earnings | 0.38% | 26,624 | $1.1M | Reduce -62.3% |
| EAGG iShares ESG Aware US Aggrega | 0.38% | 22,838 | $1.1M | Add +13.3% |
| LCTU iShares U.S. Carbon Transiti | 0.32% | 13,078 | $917K | Reduce -8.1% |
| ALNY Alnylam Pharmaceuticals Inc. | 0.32% | 2,744 | $908K | No change |
| OEF iShares S&P 100 ETF | 0.30% | 2,662 | $847K | Reduce -19.2% |
| IEMG iShares Core MSCI Emerging | 0.27% | 10,895 | $760K | Reduce -78.1% |
| ESGU iShares ESG Aware MSCI USA | 0.25% | 4,983 | $705K | Reduce -5.5% |
| GLDM SPDR Gold Minishares Trust | 0.22% | 6,904 | $640K | Reduce -65.2% |
| DSI iShares ESG MSCI KLD 400 ETF | 0.22% | 5,171 | $627K | Reduce -12.1% |
| VGIT Vanguard Intermediate-Term T | 0.22% | 10,512 | $626K | Reduce -66.4% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.21% | 1,223 | $586K | No change |
| GOOGL Alphabet Inc. Class A | 0.20% | 2,020 | $581K | No change |
| XOM Exxon Mobil Corp. | 0.19% | 3,183 | $540K | No change |
| EUSB Ishr ESG Advn Universal BD-$ | 0.18% | 11,834 | $515K | Add +3.1% |
| AAPL Apple Inc. | 0.18% | 1,978 | $502K | No change |
| SCHV Schwab US Large-Cap Value | 0.17% | 15,618 | $476K | No change |
| AMZN Amazon.com Inc. | 0.16% | 2,218 | $462K | No change |
| USXF iShares ESG Advance MSCI USA | 0.16% | 8,221 | $454K | Reduce -0.4% |
| SPTS SS SPDR P St Term TSY ETF | 0.15% | 15,125 | $441K | Reduce -64.9% |
| IEFA iShares Core MSCI Eafe ETF | 0.15% | 4,604 | $417K | No change |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.14% | 934 | $408K | No change |
| EFG iShares MSCI Eafe Growth ETF | 0.14% | 3,573 | $398K | Add +31.4% |
| CVX Chevron Corp. | 0.13% | 1,828 | $378K | Reduce -23.9% |
| ESGE iShares Inc. iShares ESG Awar | 0.13% | 8,271 | $376K | Reduce -6.3% |
| SYSB iShares Systematic Bond ETF | 0.13% | 4,197 | $374K | Add +10.0% |
| IWS iShares Russell Mid-Cap Valu | 0.12% | 2,293 | $334K | No change |
| IVLU iShares MSCI International V | 0.11% | 7,891 | $313K | Reduce -2.0% |
| LLY Eli Lilly & Co. | 0.11% | 326 | $300K | Add +32.0% |
| MSFT Microsoft Corp. | 0.10% | 781 | $289K | Add +9.7% |
| EVUS iShares ESG Aw MSCI US Value | 0.10% | 8,871 | $282K | Reduce -8.1% |
| JPM JPMorgan Chase & Co. | 0.10% | 939 | $276K | No change |
| VOE Vngrd Mrngstr MD-Cap Val ETF | 0.09% | 1,406 | $259K | No change |
| VEA Vanguard Ftse Developed ETF | 0.09% | 3,937 | $252K | No change |
| AVGO Broadcom Inc. | 0.09% | 809 | $250K | Reduce -5.3% |
| NVDA Nvidia Corp. | 0.09% | 1,392 | $243K | Add +6.0% |
| IYW iShares Ustechnology ETF | 0.08% | 1,328 | $241K | Reduce -27.9% |
| DMXF iShares ESG Advanc MSCI Eafe | 0.08% | 3,000 | $226K | New |
| QQQ Invesco QQQ Trust Series 1 | 0.07% | 356 | $205K | No change |
| ABBV Abbvie Inc. | 0.07% | 944 | $205K | No change |
Portfolio Sells Q4 2025 → Q1 2026
| VFH Vanguard Financials ETF | Reduce -66.6% | 2.03% | −4.30 |
| XLG Invesco S&P 500 Top 50 ETF | Sold out | 0.00% | −1.47 |
| SCHZ Schwab US Aggregate Bond ETF | Reduce -16.9% | 7.71% | −1.29 |
| QUAL iShares MSCI USA Quality Fac | Reduce -49.4% | 1.02% | −1.04 |
| IEMG iShares Core MSCI Emerging | Reduce -78.1% | 0.27% | −0.95 |
| XLC SS Comm Select Sector SPDR | Reduce -9.4% | 7.23% | −0.91 |
| EPI Wisdomtree India Earnings | Reduce -62.3% | 0.38% | −0.67 |
| EFV iShares MSCI Eafe Value ETF | Reduce -41.2% | 0.82% | −0.52 |
| GRNY Fundstr Gran SH US LRG Cap | Reduce -12.4% | 2.68% | −0.47 |
| GLDM SPDR Gold Minishares Trust | Reduce -65.2% | 0.22% | −0.44 |
| SOXX iShares Semiconductor ETF | Reduce -22.0% | 1.54% | −0.44 |
| VGIT Vanguard Intermediate-Term T | Reduce -66.4% | 0.22% | −0.41 |
| DYNF Ishrs US E F R A ETF-Usd Inc. | Reduce -16.9% | 1.80% | −0.39 |
| QQQM Invesco Nasdaq 100 ETF | Reduce -17.6% | 1.43% | −0.37 |
| PTF Invesco Dorsey Wright Tech | Reduce -25.3% | 1.53% | −0.36 |
| VGT Vanguard Info Tech ETF | Reduce -15.0% | 1.49% | −0.34 |
| EMB iShares JP Morgan Usd Emergi | Sold out | 0.00% | −0.30 |
| SPTS SS SPDR P St Term TSY ETF | Reduce -64.9% | 0.15% | −0.27 |
| BTC Grayscale Bitcoin Mini ETF | Reduce -18.6% | 0.51% | −0.27 |
| TLH iShares 10-20 Year Treasury | Sold out | 0.00% | −0.26 |
| HIMU iShares High Yild Muni A ETF | Sold out | 0.00% | −0.23 |
| BINC iShares Flex I A ETF-Usd Inc. | Reduce -24.2% | 0.66% | −0.19 |
| XLK SS Technology Select Sector | Reduce -7.9% | 1.31% | −0.19 |
| SCHP Schwab U.S. Tips ETF | Reduce -12.6% | 1.86% | −0.18 |
| IAU iShares Gold Trust | Sold out | 0.00% | −0.14 |
| TLT iShares 20+ Year Treasury BD | Sold out | 0.00% | −0.13 |
| VXUS Vanguard Total Intl Stock | Reduce -6.5% | 1.89% | −0.12 |
| QUS SS SPDR MSCI U Stratfact ETF | Sold out | 0.00% | −0.11 |
| NLR Vaneck Urani & Nuclr ETF-Usd | Reduce -2.9% | 1.00% | −0.10 |
| IVE iShares S&P 500 Value ETF | Reduce -5.8% | 1.90% | −0.09 |
| EXAS Exact Sciences Corp. | Sold out | 0.00% | −0.09 |
| OEF iShares S&P 100 ETF | Reduce -19.2% | 0.30% | −0.08 |
| META Meta Platforms Inc. Class A | Sold out | 0.00% | −0.07 |
| FGDL Franklin Resp Sourced Gold | Sold out | 0.00% | −0.07 |
| GOOG Alphabet Inc. Class C | Sold out | 0.00% | −0.07 |
| IWP iShares Russell Mid-Cap Grow | Sold out | 0.00% | −0.07 |
| DSI iShares ESG MSCI KLD 400 ETF | Reduce -12.1% | 0.22% | −0.04 |
| IYW iShares Ustechnology ETF | Reduce -27.9% | 0.08% | −0.04 |
| LCTU iShares U.S. Carbon Transiti | Reduce -8.1% | 0.32% | −0.04 |
| ESGU iShares ESG Aware MSCI USA | Reduce -5.5% | 0.25% | −0.02 |
| SPMO Invesco S&P 500 Momentum ETF | Reduce -0.7% | 0.72% | −0.02 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -0.8% | 0.41% | −0.01 |
| ESGE iShares Inc. iShares ESG Awar | Reduce -6.3% | 0.13% | −0.01 |
| EVUS iShares ESG Aw MSCI US Value | Reduce -8.1% | 0.10% | −0.01 |
| AVGO Broadcom Inc. | Reduce -5.3% | 0.09% | −0.01 |
| USXF iShares ESG Advance MSCI USA | Reduce -0.4% | 0.16% | −0.00 |
| CVX Chevron Corp. | Reduce -23.9% | 0.13% | −0.00 |
| IVLU iShares MSCI International V | Reduce -2.0% | 0.11% | +0.00 |
| IGIB iShares 5-10Y Inv Grade Corp. | Reduce -1.0% | 3.14% | +0.05 |
Portfolio Buys Q4 2025 → Q1 2026
| XLP SS Consumer Staples Sel Sect | Add +1853.2% | 2.53% | +2.41 |
| FCTE Smi 3FOURTEEN Full-CYCL TRND | Add +243.9% | 2.64% | +1.83 |
| CTA Simplify Managed Futures St | Add +71.5% | 3.59% | +1.69 |
| PICK iShares MSCI Global Metals & | Add +117.6% | 2.03% | +1.09 |
| GOVT iShares US Treasury Bond ETF | Add +700.9% | 1.16% | +1.02 |
| CORO Ish Intl CTRY Rot Act ETF | New | 1.02% | +1.02 |
| PDBC Invesco Optimum Yield Divers | Add +71.3% | 1.73% | +0.92 |
| ACWX iShares MSCI Acwi Ex US ETF | New | 0.90% | +0.90 |
| XLV SS Health Care Select Sector | Add +64.4% | 2.30% | +0.85 |
| LMUB iShares LT National Muni BD | New | 0.66% | +0.66 |
| BLCR iShares LRG CP CR Act ETF-Ui | New | 0.64% | +0.64 |
| GLD SPDR Gold Shares | Add +35.1% | 2.27% | +0.53 |
| EZM Wisdomtree US Midcap Fund | Add +26.8% | 2.11% | +0.45 |
| RZV Invesco S&P Smallcap 600 Pur | Add +33.4% | 1.65% | +0.42 |
| XSMO Invesco S&P Smallcap Momentu | Add +29.9% | 1.65% | +0.42 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Add +25.2% | 2.24% | +0.41 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Add +29.4% | 1.71% | +0.40 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +46.5% | 0.97% | +0.33 |
| SPEM State Street SP PTF Em ETF | Add +76.3% | 0.77% | +0.33 |
| HYLB Xtrackers Usd High Yield Cor | Add +6.9% | 3.13% | +0.25 |
| SHLD Global X Defense Tech ETF | Add +71.5% | 0.49% | +0.19 |
| MBB iShares MBS ETF | Add +1.2% | 3.73% | +0.16 |
| AVEM Avantis Emerging Markets Eq | Add +25.4% | 0.76% | +0.16 |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | Add +5.5% | 1.45% | +0.11 |
| XTEN Bondbloxx BBG 10Y US TSY ETF | Add +4.0% | 1.43% | +0.09 |
| DMXF iShares ESG Advanc MSCI Eafe | New | 0.08% | +0.08 |
| IAGG iShares Intl Aggregate Bond | Add +7.2% | 0.73% | +0.07 |
| EAGG iShares ESG Aware US Aggrega | Add +13.3% | 0.38% | +0.05 |
| MUB iShares National Muni Bond E | Add +3.6% | 0.86% | +0.05 |
| SUSC iShares ESG Aware Usd Corpor | Add +9.0% | 0.38% | +0.04 |
| EFG iShares MSCI Eafe Growth ETF | Add +31.4% | 0.14% | +0.03 |
| LLY Eli Lilly & Co. | Add +32.0% | 0.11% | +0.02 |
| SYSB iShares Systematic Bond ETF | Add +10.0% | 0.13% | +0.02 |
| EUSB Ishr ESG Advn Universal BD-$ | Add +3.1% | 0.18% | +0.01 |
| NVDA Nvidia Corp. | Add +6.0% | 0.09% | +0.00 |
| IVV iShares Core S&P 500 ETF | Add +2.5% | 0.64% | +0.00 |
| BAI Ishrs AI in and Tech Act ETF | Add +0.5% | 0.79% | −0.00 |
| MSFT Microsoft Corp. | Add +9.7% | 0.10% | −0.01 |
| THRO iShares U.S. Thematic Rotati | Add +0.8% | 0.80% | −0.02 |
| IVW iShares S&P 500 Growth ETF | Add +0.9% | 1.69% | −0.08 |
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 |