USA Financial Formulas
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed April 30, 2024), USA Financial Formulas reported 300 stock positions worth $616.8 million. Its top holding was iShares S&P 500 Growth ETF (IVW) at 12.4% of the portfolio, followed by Invesco QQQ Trust Series 1 (QQQ, 12.1%) and SS SPDR S&P 500 ETF Trust-US (SPY, 11.9%). Compared with Q4 2023, it opened 101 new positions, sold out of 134, added to 71 and reduced 128. The biggest buy was SS SPDR Dow Jones Indus Avg (DIA, shares +5954%) and the biggest sale an exit from iShares S&P Mid-Cap 400 Grow (IJK).
- Most Recent 13F
- Q1 2026
- Location
- ADA, MI
- CIK
- 0001633716
- Portfolio Value
- $616.8M (Q1 2024)
- SEC Filing
- 0001633716-24-000004 ↗ filed Apr 30, 2024
Holdings Value
Holdings 300 stocks · $616.8M
| IVW iShares S&P 500 Growth ETF | 12.36% | 902,698 | $76.2M | Add +5.5% |
| QQQ Invesco QQQ Trust Series 1 | 12.06% | 167,476 | $74.4M | Add +4.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 11.93% | 140,710 | $73.6M | Add +3.7% |
| IVE iShares S&P 500 Value ETF | 11.68% | 385,722 | $72.1M | Add +2.3% |
| DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE | 11.59% | 179,692 | $71.5M | Add +5954.3% |
| IVV iShares Core S&P 500 ETF | 6.80% | 79,823 | $42.0M | Add +4.8% |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 5.48% | 310,375 | $33.8M | Add +5.4% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 3.40% | 228,580 | $21.0M | Add +3.3% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 1.68% | 133,507 | $10.4M | Reduce -4.2% |
| TMUS T-Mobile US Inc. | 0.44% | 16,675 | $2.7M | Add +17452.6% |
| PCAR Paccar Inc. | 0.39% | 19,583 | $2.4M | New |
| CTAS Cintas Corp. | 0.39% | 3,512 | $2.4M | Reduce -12.1% |
| CDW CDW Corp. | 0.36% | 8,699 | $2.2M | New |
| CDNS Cadence Design SYS Inc. | 0.35% | 6,876 | $2.1M | Reduce -22.9% |
| INTU Intuit Inc. | 0.34% | 3,212 | $2.1M | Reduce -28.9% |
| META Meta Platforms Inc. Class A | 0.33% | 4,218 | $2.0M | Reduce -42.6% |
| NVDA Nvidia Corp. | 0.33% | 2,250 | $2.0M | Reduce -65.7% |
| HIG Hartford Insurance Group Inc. | 0.32% | 18,939 | $2.0M | Add +986.6% |
| AMZN Amazon.com Inc. | 0.31% | 10,658 | $1.9M | Reduce -46.5% |
| COST Costco Wholesale Corp. | 0.31% | 2,593 | $1.9M | New |
| ROST Ross Stores Inc. | 0.30% | 12,688 | $1.9M | Add +44.0% |
| VRTX Vertex Pharmaceuticals Inc. | 0.28% | 4,161 | $1.7M | Reduce -35.4% |
| CB Chubb Ltd. | 0.28% | 6,637 | $1.7M | Add +275.4% |
| KLAC KLA Corp. | 0.27% | 2,351 | $1.6M | Reduce -41.2% |
| GOOG Alphabet Inc. Class C | 0.26% | 10,507 | $1.6M | Reduce -57.8% |
| NRG NRG Energy Inc. | 0.26% | 23,234 | $1.6M | Reduce -10.1% |
| AIZ Assurant Inc. | 0.25% | 8,328 | $1.6M | Add +18.8% |
| CBOE Cboe Global Markets Inc. | 0.24% | 8,183 | $1.5M | Reduce -12.6% |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 0.24% | 16,859 | $1.5M | New |
| RSG Republic Services Inc. | 0.24% | 7,627 | $1.5M | Add +139.1% |
| TT Trane Technologies PLC | 0.23% | 4,722 | $1.4M | Add +39250.0% |
| ALL Allstate Corp. | 0.23% | 8,078 | $1.4M | New |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.23% | 24,099 | $1.4M | New |
| TXT Textron Inc. | 0.22% | 14,369 | $1.4M | New |
| PSX Phillips 66 | 0.22% | 8,429 | $1.4M | Add +21.1% |
| GE General Electric | 0.22% | 7,828 | $1.4M | Reduce -22.8% |
| NWSA News Corp. Class A | 0.22% | 50,786 | $1.3M | Reduce -13.2% |
| LDOS Leidos Holdings Inc. | 0.21% | 9,888 | $1.3M | New |
| NOW ServiceNow Inc. | 0.21% | 1,672 | $1.3M | Reduce -19.3% |
| PTC PTC Inc. | 0.21% | 6,734 | $1.3M | Reduce -13.1% |
| MOH Molina Healthcare Inc. | 0.21% | 3,090 | $1.3M | New |
| GD General Dynamics Corp. | 0.20% | 4,469 | $1.3M | New |
| PKG Packaging Corp. of America | 0.20% | 6,628 | $1.3M | Add +26.8% |
| QCOM Qualcomm Inc. | 0.20% | 7,381 | $1.2M | Add +73710.0% |
| V Visa Inc. Class A | 0.20% | 4,434 | $1.2M | Reduce -16.4% |
| MSFT Microsoft Corp. | 0.20% | 2,885 | $1.2M | Reduce -65.7% |
| OEF iShares S&P 100 ETF | 0.20% | 4,903 | $1.2M | Reduce -4.3% |
| VTI VG Morningstar TS MKT ETF-US | 0.20% | 4,659 | $1.2M | Reduce -4.1% |
| AMAT Applied Materials Inc. | 0.20% | 5,860 | $1.2M | Add +3562.5% |
| IWB iShares Russell 1000 ETF | 0.20% | 4,193 | $1.2M | Reduce -3.9% |
| IWM iShares Russell 2000 ETF | 0.20% | 5,738 | $1.2M | Reduce -2.2% |
| IWV iShares Russell 3000 ETF | 0.20% | 4,009 | $1.2M | Reduce -4.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.19% | 2,785 | $1.2M | Reduce -30.6% |
| WDAY Workday Inc. Class A | 0.19% | 4,258 | $1.2M | Reduce -25.9% |
| IT Gartner Inc. | 0.18% | 2,394 | $1.1M | New |
| APH Amphenol Corp. Class A | 0.18% | 9,618 | $1.1M | Add +757.2% |
| ROP Roper Technologies Inc. | 0.18% | 1,965 | $1.1M | Reduce -26.3% |
| GOOGL Alphabet Inc. Class A | 0.18% | 7,231 | $1.1M | Reduce -60.3% |
| AMD Advanced Micro Devices | 0.17% | 5,914 | $1.1M | New |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.17% | 10,496 | $1.1M | Reduce -5.6% |
| LLY Eli Lilly & Co. | 0.17% | 1,345 | $1.0M | Add +13350.0% |
| CPRT Copart Inc. | 0.17% | 18,053 | $1.0M | Reduce -64.8% |
| CSGP Costar Group Inc. | 0.17% | 10,788 | $1.0M | Add +8530.4% |
| LRCX Lam Research Corp. | 0.17% | 1,070 | $1.0M | Reduce -66.5% |
| FISV Fiserv Inc. | 0.16% | 6,288 | $1.0M | Reduce -30.4% |
| PGR Progressive Corp. | 0.16% | 4,842 | $1.0M | New |
| ADBE Adobe Inc. | 0.16% | 1,984 | $1.0M | Reduce -54.2% |
| J Jacobs Solutions Inc. | 0.16% | 6,269 | $964K | New |
| GL Globe Life Inc. | 0.16% | 8,242 | $959K | New |
| RL Ralph Lauren Corp. | 0.15% | 5,088 | $955K | New |
| CSX CSX Corp. | 0.15% | 25,546 | $947K | New |
| ETN Eaton Corp. PLC | 0.15% | 3,026 | $946K | Reduce -20.2% |
| COR Cencora Inc. | 0.15% | 3,759 | $913K | New |
| AMGN Amgen Inc. | 0.15% | 3,180 | $904K | New |
| ADSK Autodesk Inc. | 0.15% | 3,471 | $904K | New |
| ANET Arista Networks Inc. | 0.15% | 3,107 | $901K | Reduce -40.9% |
| EA Electronic Arts Inc. | 0.15% | 6,770 | $898K | Reduce -55.6% |
| ISRG Intuitive Surgical Inc. | 0.14% | 2,240 | $894K | Add +5233.3% |
| NFLX Netflix Inc. | 0.14% | 1,450 | $881K | Reduce -66.3% |
| NXPI NXP Semiconductors NV | 0.14% | 3,550 | $880K | New |
| PDD PDD Holdings Inc. | 0.14% | 7,546 | $877K | Reduce -9.3% |
| PH Parker Hannifin Corp. | 0.14% | 1,570 | $873K | Add +11114.3% |
| PANW Palo Alto Networks Inc. | 0.14% | 3,023 | $859K | Reduce -60.7% |
| JBL Jabil Inc. | 0.14% | 6,401 | $857K | Add +11753.7% |
| SNPS Synopsys Inc. | 0.13% | 1,440 | $823K | Reduce -65.3% |
| REGN Regeneron Pharmaceuticals | 0.13% | 852 | $820K | New |
| IDXX Idexx Laboratories Inc. | 0.13% | 1,501 | $810K | Add +5673.1% |
| ECL Ecolab Inc. | 0.13% | 3,449 | $796K | Reduce -66.4% |
| ASML ASML Holding NV-NY Reg SHS | 0.13% | 810 | $786K | New |
| LULU Lululemon Athletica Inc. | 0.12% | 1,941 | $758K | Reduce -36.6% |
| CL Colgate-Palmolive Co. | 0.09% | 5,988 | $539K | Add +37.4% |
| WM Waste Management Inc. | 0.09% | 2,496 | $532K | Reduce -13.4% |
| XLE SS Energy Select Sector | 0.09% | 5,630 | $532K | Reduce -10.9% |
| XLB SS Materials Select Sector | 0.09% | 5,661 | $526K | Reduce -12.1% |
| XLI SS Industrial Select Sector | 0.08% | 4,106 | $517K | Reduce -16.7% |
| XLF SS Financial Select Sector | 0.08% | 12,055 | $508K | Reduce -18.9% |
| XLY SS Consumer Disc Select Sect | 0.08% | 2,686 | $494K | Reduce -13.8% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.08% | 12,966 | $492K | Add +16523.1% |
| XLK SS Technology Select Sector | 0.08% | 2,359 | $491K | Reduce -15.8% |
| XLV SS Health Care Select Sector | 0.08% | 3,320 | $490K | Reduce -16.6% |
Portfolio Sells Q4 2023 → Q1 2024
| IJK iShares S&P Mid-Cap 400 Grow | Sold out | 0.00% | −11.67 |
| GSG iShares S&P Gsci Commodity I | Reduce -96.0% | 0.03% | −0.61 |
| AVGO Broadcom Inc. | Sold out | 0.00% | −0.43 |
| VRSK Verisk Analytics Inc. | Sold out | 0.00% | −0.41 |
| MSFT Microsoft Corp. | Reduce -65.7% | 0.20% | −0.36 |
| GOOG Alphabet Inc. Class C | Reduce -57.8% | 0.26% | −0.35 |
| AKAM Akamai Technologies Inc. | Sold out | 0.00% | −0.30 |
| ADBE Adobe Inc. | Reduce -54.2% | 0.16% | −0.29 |
| LRCX Lam Research Corp. | Reduce -66.5% | 0.17% | −0.27 |
| CPRT Copart Inc. | Reduce -64.8% | 0.17% | −0.27 |
| GOOGL Alphabet Inc. Class A | Reduce -60.3% | 0.18% | −0.27 |
| PANW Palo Alto Networks Inc. | Reduce -60.7% | 0.14% | −0.26 |
| EQIX Equinix Inc. | Reduce -92.3% | 0.02% | −0.24 |
| SNPS Synopsys Inc. | Reduce -65.3% | 0.13% | −0.24 |
| NVDA Nvidia Corp. | Reduce -65.7% | 0.33% | −0.24 |
| PHM Pultegroup Inc. | Sold out | 0.00% | −0.24 |
| CRM Salesforce Inc. | Reduce -86.1% | 0.04% | −0.23 |
| GRMN Garmin Ltd. | Sold out | 0.00% | −0.23 |
| ECL Ecolab Inc. | Reduce -66.4% | 0.13% | −0.23 |
| NFLX Netflix Inc. | Reduce -66.3% | 0.14% | −0.22 |
| DLR Digital Realty Trust Inc. | Sold out | 0.00% | −0.22 |
| EA Electronic Arts Inc. | Reduce -55.6% | 0.15% | −0.22 |
| AMZN Amazon.com Inc. | Reduce -46.5% | 0.31% | −0.22 |
| CMCSA Comcast Corp. Class A | Sold out | 0.00% | −0.22 |
| NTAP Netapp Inc. | Sold out | 0.00% | −0.22 |
| BKR Baker Hughes Co. | Sold out | 0.00% | −0.21 |
| MRSH Marsh & McLennan Cos | Reduce -77.6% | 0.06% | −0.20 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Reduce -4.2% | 1.68% | −0.20 |
| BRO Brown & Brown Inc. | Sold out | 0.00% | −0.20 |
| ODFL Old Dominion Freight Line | Sold out | 0.00% | −0.20 |
| CME Cme Group Inc. | Sold out | 0.00% | −0.19 |
| CHTR Charter Communications Inc. Class A | Sold out | 0.00% | −0.19 |
| AJG Arthur J Gallagher & Co. | Sold out | 0.00% | −0.18 |
| VRTX Vertex Pharmaceuticals Inc. | Reduce -35.4% | 0.28% | −0.18 |
| IRM Iron Mountain Inc. | Sold out | 0.00% | −0.17 |
| WELL Welltower Inc. | Sold out | 0.00% | −0.16 |
| INTU Intuit Inc. | Reduce -28.9% | 0.34% | −0.16 |
| LULU Lululemon Athletica Inc. | Reduce -36.6% | 0.12% | −0.15 |
| LIN Linde PLC | Sold out | 0.00% | −0.15 |
| MA Mastercard Inc. Class A | Reduce -88.2% | 0.02% | −0.14 |
| KLAC KLA Corp. | Reduce -41.2% | 0.27% | −0.14 |
| META Meta Platforms Inc. Class A | Reduce -42.6% | 0.33% | −0.12 |
| WDAY Workday Inc. Class A | Reduce -25.9% | 0.19% | −0.09 |
| CDNS Cadence Design SYS Inc. | Reduce -22.9% | 0.35% | −0.08 |
| ROP Roper Technologies Inc. | Reduce -26.3% | 0.18% | −0.08 |
| PDD PDD Holdings Inc. | Reduce -9.3% | 0.14% | −0.07 |
| ANET Arista Networks Inc. | Reduce -40.9% | 0.15% | −0.07 |
| YUM Yum! Brands Inc. | Sold out | 0.00% | −0.07 |
| PEP Pepsico Inc. | Reduce -99.6% | 0.00% | −0.07 |
| MTG Mgic Investment Corp. | Sold out | 0.00% | −0.06 |
Portfolio Buys Q4 2023 → Q1 2024
| DIA SS SPDR Dow Jones Indus Avg | Add +5954.3% | 11.59% | +11.39 |
| IVW iShares S&P 500 Growth ETF | Add +5.5% | 12.36% | +1.12 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +3.7% | 11.93% | +0.65 |
| QQQ Invesco QQQ Trust Series 1 | Add +4.1% | 12.06% | +0.53 |
| IVV iShares Core S&P 500 ETF | Add +4.8% | 6.80% | +0.44 |
| TMUS T-Mobile US Inc. | Add +17452.6% | 0.44% | +0.44 |
| PCAR Paccar Inc. | New | 0.39% | +0.39 |
| CDW CDW Corp. | New | 0.36% | +0.36 |
| COST Costco Wholesale Corp. | New | 0.31% | +0.31 |
| HIG Hartford Insurance Group Inc. | Add +986.6% | 0.32% | +0.29 |
| WRB WR Berkley Corp. | New | 0.24% | +0.24 |
| TT Trane Technologies PLC | Add +39250.0% | 0.23% | +0.23 |
| ALL Allstate Corp. | New | 0.23% | +0.23 |
| BNY Bank of New York Mellon Corp. | New | 0.23% | +0.23 |
| TXT Textron Inc. | New | 0.22% | +0.22 |
| IVE iShares S&P 500 Value ETF | Add +2.3% | 11.68% | +0.22 |
| LDOS Leidos Holdings Inc. | New | 0.21% | +0.21 |
| CB Chubb Ltd. | Add +275.4% | 0.28% | +0.21 |
| MOH Molina Healthcare Inc. | New | 0.21% | +0.21 |
| GD General Dynamics Corp. | New | 0.20% | +0.20 |
| QCOM Qualcomm Inc. | Add +73710.0% | 0.20% | +0.20 |
| AMAT Applied Materials Inc. | Add +3562.5% | 0.20% | +0.19 |
| IT Gartner Inc. | New | 0.18% | +0.18 |
| AMD Advanced Micro Devices | New | 0.17% | +0.17 |
| LLY Eli Lilly & Co. | Add +13350.0% | 0.17% | +0.17 |
| CSGP Costar Group Inc. | Add +8530.4% | 0.17% | +0.17 |
| PGR Progressive Corp. | New | 0.16% | +0.16 |
| APH Amphenol Corp. Class A | Add +757.2% | 0.18% | +0.16 |
| J Jacobs Solutions Inc. | New | 0.16% | +0.16 |
| GL Globe Life Inc. | New | 0.16% | +0.16 |
| RL Ralph Lauren Corp. | New | 0.15% | +0.15 |
| CSX CSX Corp. | New | 0.15% | +0.15 |
| COR Cencora Inc. | New | 0.15% | +0.15 |
| AMGN Amgen Inc. | New | 0.15% | +0.15 |
| ADSK Autodesk Inc. | New | 0.15% | +0.15 |
| RSG Republic Services Inc. | Add +139.1% | 0.24% | +0.14 |
| NXPI NXP Semiconductors NV | New | 0.14% | +0.14 |
| ISRG Intuitive Surgical Inc. | Add +5233.3% | 0.14% | +0.14 |
| PH Parker Hannifin Corp. | Add +11114.3% | 0.14% | +0.14 |
| JBL Jabil Inc. | Add +11753.7% | 0.14% | +0.14 |
| REGN Regeneron Pharmaceuticals | New | 0.13% | +0.13 |
| IDXX Idexx Laboratories Inc. | Add +5673.1% | 0.13% | +0.13 |
| ASML ASML Holding NV-NY Reg SHS | New | 0.13% | +0.13 |
| ROST Ross Stores Inc. | Add +44.0% | 0.30% | +0.09 |
| BAC Bank of America Corp. | Add +16523.1% | 0.08% | +0.08 |
| XLP SS Consumer Staples Sel Sect | New | 0.08% | +0.08 |
| AXP American Express Co. | New | 0.07% | +0.07 |
| GM General Motors Co. | Add +13742.9% | 0.07% | +0.07 |
| DIS The Walt Disney Co. | New | 0.07% | +0.07 |
| ABT Abbott Laboratories | New | 0.07% | +0.07 |
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 |