USA Financial Formulas
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed April 14, 2026), USA Financial Formulas reported 437 stock positions worth $530.5 million. Its top holding was iShares S&P Small-Cap 600 Va (IJS) at 20.7% of the portfolio, followed by iShares Russell 2000 ETF (IWM, 20.4%) and iShares S&P Mid-Cap 400 Grow (IJK, 19.8%). Compared with Q4 2025, it opened 114 new positions, sold out of 91, added to 72 and reduced 176. The biggest buy was a new position in iShares S&P Small-Cap 600 Va (IJS) and the biggest sale SS SPDR S&P 500 ETF Trust-US (SPY, shares −100%).
- Most Recent 13F
- Q1 2026
- Location
- ADA, MI
- CIK
- 0001633716
- Portfolio Value
- $530.5M (Q1 2026)
- SEC Filing
- 0001633716-26-000005 ↗ filed Apr 14, 2026
Holdings Value
Holdings 437 stocks · $530.5M
| IJS iShares S&P Small-Cap 600 Va | 20.72% | 927,820 | $109.9M | New |
| IWM iShares Russell 2000 ETF | 20.38% | 435,956 | $108.1M | Add +15520.1% |
| IJK iShares S&P Mid-Cap 400 Grow | 19.76% | 1,041,989 | $104.8M | New |
| IVV iShares Core S&P 500 ETF | 7.19% | 58,368 | $38.1M | Reduce -50.9% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 4.38% | 253,563 | $23.2M | New |
| GSG iShares S&P Gsci Commodity I | 3.51% | 577,692 | $18.6M | Add +3534.0% |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 2.63% | 128,238 | $14.0M | Reduce -45.1% |
| IEF iShares 7-10 Year Treasury B | 2.32% | 129,169 | $12.3M | New |
| QQQ Invesco QQQ Trust Series 1 | 0.72% | 6,655 | $3.8M | Reduce -93.7% |
| SIXJ Allian US Equ 6 Mon BU10-Usd | 0.72% | 113,956 | $3.8M | Reduce -5.9% |
| SIXO Allian US Equ 6 Mon BU10-Usd | 0.70% | 110,556 | $3.7M | Reduce -5.5% |
| EEM iShares MSCI Emerging Market | 0.64% | 59,962 | $3.4M | Reduce -95.0% |
| IVW iShares S&P 500 Growth ETF | 0.62% | 29,041 | $3.3M | Reduce -94.5% |
| JANU Allianzim US BF15 Uncap Jan | 0.36% | 69,589 | $1.9M | Reduce -5.7% |
| OCTU Allianzim US BF15 Uncap Oct | 0.36% | 68,733 | $1.9M | Reduce -5.6% |
| JULU Allianzim US BF15 Uncap Jul | 0.35% | 65,966 | $1.9M | Reduce -5.6% |
| ARLU Allianzim US BF15 Uncap Apr | 0.35% | 64,932 | $1.9M | Reduce -5.7% |
| AMAT Applied Materials Inc. | 0.31% | 4,784 | $1.6M | Add +12489.5% |
| WDC Western Digital Corp. | 0.29% | 5,628 | $1.5M | Add +31.7% |
| CSCO Cisco Systems Inc. | 0.28% | 19,229 | $1.5M | Add +37.5% |
| LRCX Lam Research Corp. | 0.27% | 6,639 | $1.4M | Reduce -37.0% |
| MU Micron Technology Inc. | 0.26% | 4,079 | $1.4M | Reduce -45.0% |
| GILD Gilead Sciences Inc. | 0.26% | 9,804 | $1.4M | Add +8.4% |
| ROST Ross Stores Inc. | 0.25% | 6,187 | $1.3M | New |
| STX Seagate Technology Holdings | 0.25% | 3,390 | $1.3M | New |
| BKR Baker Hughes Co. | 0.23% | 19,564 | $1.2M | Add +7.3% |
| REGN Regeneron Pharmaceuticals | 0.21% | 1,457 | $1.1M | New |
| ADI Analog Devices Inc. | 0.21% | 3,524 | $1.1M | Add +4.9% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.19% | 8,565 | $1.0M | Add +14.2% |
| GOOG Alphabet Inc. Class C | 0.19% | 3,455 | $991K | Reduce -42.7% |
| AEP American Electric Power | 0.19% | 7,510 | $984K | Reduce -49.2% |
| AMD Advanced Micro Devices | 0.18% | 4,627 | $941K | Reduce -35.2% |
| RTX RTX Corp. | 0.17% | 4,750 | $916K | Reduce -16.5% |
| KEYS Keysight Technologies Inc. | 0.17% | 3,233 | $913K | Reduce -21.1% |
| MRK Merck & Co. Inc. | 0.17% | 7,410 | $891K | New |
| AAPL Apple Inc. | 0.16% | 3,434 | $872K | Add +48957.1% |
| AES AES Corp. | 0.16% | 60,416 | $851K | Add +319.8% |
| JCI Johnson Controls Internation | 0.16% | 6,286 | $823K | Reduce -16.3% |
| HAS Hasbro Inc. | 0.15% | 8,597 | $805K | Add +125.5% |
| CMI Cummins Inc. | 0.15% | 1,491 | $802K | Add +282.3% |
| HAL Halliburton Co. | 0.15% | 20,508 | $800K | New |
| GLD SPDR Gold Shares | 0.15% | 1,805 | $777K | Add +2214.1% |
| RSP Invesco S&P 500 Equal Weight | 0.15% | 4,037 | $775K | New |
| XOM Exxon Mobil Corp. | 0.14% | 4,483 | $761K | Add +89560.0% |
| NDSN Nordson Corp. | 0.14% | 2,750 | $732K | Add +538.0% |
| XEL Xcel Energy Inc. | 0.14% | 9,197 | $731K | Reduce -57.1% |
| C Citigroup Inc. | 0.13% | 6,302 | $715K | Reduce -9.4% |
| JNJ Johnson & Johnson | 0.13% | 2,894 | $707K | Reduce -35.3% |
| GOOGL Alphabet Inc. Class A | 0.13% | 2,442 | $702K | Reduce -51.7% |
| CSX CSX Corp. | 0.13% | 17,106 | $702K | Reduce -35.1% |
| MNST Monster Beverage Corp. | 0.13% | 9,525 | $690K | Reduce -60.6% |
| CAT Caterpillar Inc. | 0.13% | 973 | $689K | Reduce -26.7% |
| MCHP Microchip Technology Inc. | 0.13% | 10,653 | $688K | New |
| PEP Pepsico Inc. | 0.13% | 4,354 | $676K | New |
| GD General Dynamics Corp. | 0.13% | 1,966 | $675K | Reduce -14.5% |
| AME Ametek Inc. | 0.13% | 3,140 | $673K | Add +153.4% |
| TER Teradyne Inc. | 0.13% | 2,268 | $672K | Reduce -15.1% |
| STLD Steel Dynamics Inc. | 0.13% | 3,710 | $668K | New |
| CHRW C.H. Robinson Worldwide Inc. | 0.12% | 3,966 | $659K | Reduce -6.5% |
| AMGN Amgen Inc. | 0.12% | 1,862 | $655K | New |
| JBHT Hunt (jb) Transprt SVCS Inc. | 0.12% | 3,046 | $645K | New |
| NEM Newmont Corp. | 0.12% | 5,956 | $645K | Reduce -22.4% |
| APH Amphenol Corp. Class A | 0.12% | 5,101 | $645K | Add +3.7% |
| PLD Prologis Inc. | 0.12% | 4,828 | $638K | New |
| STT State Street Corp. | 0.12% | 5,007 | $634K | New |
| FDX FedEx Corp. | 0.12% | 1,774 | $632K | New |
| GLW Corning Inc. | 0.12% | 4,630 | $630K | Reduce -39.6% |
| VTI VG Morningstar TS MKT ETF-US | 0.12% | 1,931 | $619K | Reduce -4.8% |
| DIA SS SPDR Dow Jones Indus Avg filed as STATE STR SPDR DOW JONES IND | 0.12% | 1,337 | $619K | Reduce -5.8% |
| IWV iShares Russell 3000 ETF | 0.12% | 1,659 | $615K | Reduce -5.7% |
| IWB iShares Russell 1000 ETF | 0.12% | 1,723 | $614K | Reduce -5.4% |
| OEF iShares S&P 100 ETF | 0.11% | 1,906 | $606K | Reduce -5.0% |
| VLO Valero Energy Corp. | 0.11% | 2,288 | $565K | Reduce -18.7% |
| PSX Phillips 66 | 0.11% | 3,103 | $565K | New |
| NUE Nucor Corp. | 0.10% | 3,285 | $555K | Add +292.0% |
| HII Huntington Ingalls Industrie | 0.10% | 1,428 | $542K | New |
| CVX Chevron Corp. | 0.10% | 2,598 | $538K | New |
| SLB SLB Ltd. filed as SLB LIMITED | 0.10% | 9,953 | $511K | New |
| INCY Incyte Corp. | 0.09% | 5,204 | $490K | Add +0.1% |
| IEFA iShares Core MSCI Eafe ETF | 0.09% | 5,367 | $486K | Add +146.0% |
| RL Ralph Lauren Corp. | 0.09% | 1,399 | $481K | Add +139800.0% |
| VTR Ventas Inc. | 0.09% | 5,846 | $478K | New |
| TPR Tapestry Inc. | 0.09% | 3,330 | $470K | Add +83150.0% |
| LHX L3HARRIS Technologies Inc. | 0.08% | 1,275 | $440K | Reduce -28.7% |
| CIEN Ciena Corp. | 0.08% | 1,104 | $429K | Reduce -40.7% |
| MLM Martin Marietta Materials | 0.08% | 718 | $423K | New |
| NOC Northrop Grumman Corp. | 0.08% | 594 | $405K | Add +59300.0% |
| EWJ iShares MSCI Japan ETF | 0.07% | 4,602 | $389K | Reduce -26.6% |
| VOO Vanguard S&P 500 ETF | 0.07% | 648 | $387K | Reduce -40.4% |
| IEMG iShares Core MSCI Emerging | 0.07% | 5,040 | $352K | Reduce -30.3% |
| IUSV iShares Core S&P U.S. Value | 0.07% | 3,371 | $345K | Reduce -40.6% |
| EWC iShares MSCI Canada ETF | 0.06% | 5,896 | $323K | Add +321.8% |
| LEA Lear Corp. | 0.06% | 2,456 | $297K | Reduce -13.3% |
| FCX Freeport-McMoran Inc. | 0.05% | 4,770 | $280K | New |
| MDT Medtronic PLC | 0.05% | 3,193 | $277K | Add +6.5% |
| XLE SS Energy Select Sector | 0.05% | 3,964 | $243K | Reduce -31.8% |
| EWQ iShares MSCI France ETF | 0.05% | 5,513 | $239K | Add +63.9% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.04% | 5,070 | $233K | Reduce -13.3% |
| FIVE Five Below | 0.04% | 1,004 | $229K | Reduce -20.1% |
| TIGO Millicom Intl Cellular S.A. | 0.04% | 3,051 | $229K | Reduce -22.9% |
Portfolio Sells Q4 2025 → Q1 2026
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -100.0% | 0.00% | −11.73 |
| EFA iShares MSCI Eafe ETF | Reduce -99.8% | 0.02% | −11.69 |
| EEM iShares MSCI Emerging Market | Reduce -95.0% | 0.64% | −11.26 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -93.7% | 0.72% | −11.15 |
| IVW iShares S&P 500 Growth ETF | Reduce -94.5% | 0.62% | −11.14 |
| IVV iShares Core S&P 500 ETF | Reduce -50.9% | 7.19% | −7.62 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Reduce -45.1% | 2.63% | −2.05 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Reduce -100.0% | 0.00% | −1.19 |
| IYZ iShares US Telecommunication | Sold out | 0.00% | −0.50 |
| IYW iShares Ustechnology ETF | Sold out | 0.00% | −0.48 |
| IYH iShares U.S. Healthcare ETF | Sold out | 0.00% | −0.46 |
| IDU iShares US Utilities ETF | Sold out | 0.00% | −0.46 |
| AVGO Broadcom Inc. | Reduce -100.0% | 0.00% | −0.26 |
| IDXX Idexx Laboratories Inc. | Reduce -98.5% | 0.00% | −0.25 |
| MNST Monster Beverage Corp. | Reduce -60.6% | 0.13% | −0.21 |
| AZN Astrazeneca PLC-Spons ADR | Sold out | 0.00% | −0.17 |
| EXC Exelon Corp. | Reduce -99.2% | 0.00% | −0.16 |
| GOOG Alphabet Inc. Class C | Reduce -42.7% | 0.19% | −0.16 |
| GOOGL Alphabet Inc. Class A | Reduce -51.7% | 0.13% | −0.16 |
| FE Firstenergy Corp. | Reduce -92.6% | 0.01% | −0.15 |
| XEL Xcel Energy Inc. | Reduce -57.1% | 0.14% | −0.15 |
| GM General Motors Co. | Sold out | 0.00% | −0.14 |
| MPC Marathon Petroleum Corp. | Reduce -99.9% | 0.00% | −0.14 |
| DDOG Datadog Inc. Class A | Sold out | 0.00% | −0.14 |
| OUSA Alps Oshares US Quality Divi | Reduce -100.0% | 0.00% | −0.13 |
| JPM JPMorgan Chase & Co. | Reduce -99.9% | 0.00% | −0.13 |
| GE General Electric | Reduce -99.9% | 0.00% | −0.13 |
| ULTA Ulta Beauty Inc. | Sold out | 0.00% | −0.13 |
| MU Micron Technology Inc. | Reduce -45.0% | 0.26% | −0.13 |
| AEP American Electric Power | Reduce -49.2% | 0.19% | −0.12 |
| EW Edwards Lifesciences Corp. | Reduce -78.5% | 0.03% | −0.12 |
| FSLR First Solar Inc. | Sold out | 0.00% | −0.12 |
| SRE Sempra | Sold out | 0.00% | −0.12 |
| HWM Howmet Aerospace Inc. | Reduce -99.9% | 0.00% | −0.12 |
| LDOS Leidos Holdings Inc. | Sold out | 0.00% | −0.12 |
| EVRG Evergy Inc. | Reduce -99.9% | 0.00% | −0.12 |
| BG Bunge Global SA | Sold out | 0.00% | −0.12 |
| WELL Welltower Inc. | Reduce -99.9% | 0.00% | −0.11 |
| PWR Quanta Services Inc. | Sold out | 0.00% | −0.11 |
| AMD Advanced Micro Devices | Reduce -35.2% | 0.18% | −0.10 |
| IVZ Invesco Ltd. | Sold out | 0.00% | −0.10 |
| SCHW Schwab (charles) Corp. | Reduce -99.8% | 0.00% | −0.10 |
| MS Morgan Stanley | Sold out | 0.00% | −0.10 |
| GS Goldman Sachs Group Inc. | Reduce -73.4% | 0.03% | −0.09 |
| ROK Rockwell Automation Inc. | Sold out | 0.00% | −0.09 |
| TEL Te Connectivity PLC | Reduce -99.8% | 0.00% | −0.09 |
| NEE Nextera Energy Inc. | Sold out | 0.00% | −0.09 |
| LVS Las Vegas Sands Corp. | Reduce -99.9% | 0.00% | −0.09 |
| VUG Vanguard Mrngstar GR ETF-Sui | Reduce -76.8% | 0.02% | −0.08 |
| HPE Hewlett Packard Enterprise | Sold out | 0.00% | −0.06 |
Portfolio Buys Q4 2025 → Q1 2026
| IJS iShares S&P Small-Cap 600 Va | New | 20.72% | +20.72 |
| IWM iShares Russell 2000 ETF | Add +15520.1% | 20.38% | +20.26 |
| IJK iShares S&P Mid-Cap 400 Grow | New | 19.76% | +19.76 |
| BIL SS SPDR BB 1-3M T-Bill ETF | New | 4.38% | +4.38 |
| GSG iShares S&P Gsci Commodity I | Add +3534.0% | 3.51% | +3.45 |
| IEF iShares 7-10 Year Treasury B | New | 2.32% | +2.32 |
| AMAT Applied Materials Inc. | Add +12489.5% | 0.31% | +0.31 |
| ROST Ross Stores Inc. | New | 0.25% | +0.25 |
| STX Seagate Technology Holdings | New | 0.25% | +0.25 |
| REGN Regeneron Pharmaceuticals | New | 0.21% | +0.21 |
| MRK Merck & Co. Inc. | New | 0.17% | +0.17 |
| AAPL Apple Inc. | Add +48957.1% | 0.16% | +0.16 |
| WDC Western Digital Corp. | Add +31.7% | 0.29% | +0.15 |
| HAL Halliburton Co. | New | 0.15% | +0.15 |
| RSP Invesco S&P 500 Equal Weight | New | 0.15% | +0.15 |
| XOM Exxon Mobil Corp. | Add +89560.0% | 0.14% | +0.14 |
| GLD SPDR Gold Shares | Add +2214.1% | 0.15% | +0.14 |
| MCHP Microchip Technology Inc. | New | 0.13% | +0.13 |
| PEP Pepsico Inc. | New | 0.13% | +0.13 |
| STLD Steel Dynamics Inc. | New | 0.13% | +0.13 |
| AMGN Amgen Inc. | New | 0.12% | +0.12 |
| AES AES Corp. | Add +319.8% | 0.16% | +0.12 |
| JBHT Hunt (jb) Transprt SVCS Inc. | New | 0.12% | +0.12 |
| PLD Prologis Inc. | New | 0.12% | +0.12 |
| STT State Street Corp. | New | 0.12% | +0.12 |
| FDX FedEx Corp. | New | 0.12% | +0.12 |
| NDSN Nordson Corp. | Add +538.0% | 0.14% | +0.12 |
| CMI Cummins Inc. | Add +282.3% | 0.15% | +0.12 |
| PSX Phillips 66 | New | 0.11% | +0.11 |
| HII Huntington Ingalls Industrie | New | 0.10% | +0.10 |
| CVX Chevron Corp. | New | 0.10% | +0.10 |
| SLB SLB Ltd. | New | 0.10% | +0.10 |
| HAS Hasbro Inc. | Add +125.5% | 0.15% | +0.09 |
| RL Ralph Lauren Corp. | Add +139800.0% | 0.09% | +0.09 |
| VTR Ventas Inc. | New | 0.09% | +0.09 |
| TPR Tapestry Inc. | Add +83150.0% | 0.09% | +0.09 |
| CSCO Cisco Systems Inc. | Add +37.5% | 0.28% | +0.09 |
| AME Ametek Inc. | Add +153.4% | 0.13% | +0.08 |
| NUE Nucor Corp. | Add +292.0% | 0.10% | +0.08 |
| MLM Martin Marietta Materials | New | 0.08% | +0.08 |
| NOC Northrop Grumman Corp. | Add +59300.0% | 0.08% | +0.08 |
| BKR Baker Hughes Co. | Add +7.3% | 0.23% | +0.07 |
| IEFA iShares Core MSCI Eafe ETF | Add +146.0% | 0.09% | +0.06 |
| GILD Gilead Sciences Inc. | Add +8.4% | 0.26% | +0.06 |
| FCX Freeport-McMoran Inc. | New | 0.05% | +0.05 |
| EWC iShares MSCI Canada ETF | Add +321.8% | 0.06% | +0.05 |
| ADI Analog Devices Inc. | Add +4.9% | 0.21% | +0.05 |
| XLP SS Consumer Staples Sel Sect | New | 0.04% | +0.04 |
| AKAM Akamai Technologies Inc. | New | 0.04% | +0.04 |
| AA Alcoa Corp. | New | 0.04% | +0.04 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q1 2026 | 437 | $530.5M | IJS, IWM, IJK, IVV, BIL |
| Q4 2025 | 414 | $549.6M | IVV, EEM, QQQ, IVW, SPY |
| Q3 2025 | 257 | $567.6M | IVV, EEM, IVW, QQQ, SPY |
| Q2 2025 | 240 | $585.9M | EEM, EFA, SPY, QQQ, IVW |
| Q1 2025 | 274 | $605.7M | SPY, IVW, DIA, IVV, LQD |
| Q4 2024 | 286 | $636.4M | IVW, SPY, DIA, IVE, IYR |
| Q3 2024 | 256 | $643.1M | EFA, SPY, IVW, QQQ, IJK |
| Q2 2024 | 297 | $616.7M | IVW, QQQ, SPY, IJK, MDY |
| Q1 2024 | 300 | $616.8M | IVW, QQQ, SPY, IVE, DIA |