USA Financial Formulas
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed October 8, 2024), USA Financial Formulas reported 256 stock positions worth $643.1 million. Its top holding was iShares MSCI Eafe ETF (EFA) at 12.7% of the portfolio, followed by SS SPDR S&P 500 ETF Trust-US (SPY, 12.6%) and iShares S&P 500 Growth ETF (IVW, 12.5%). Compared with Q2 2024, it opened 80 new positions, sold out of 121, added to 63 and reduced 113. The biggest buy was iShares MSCI Eafe ETF (EFA, shares +35177%) and the biggest sale State Street SPDR S&P Midcap (MDY, shares −100%).
- Most Recent 13F
- Q1 2026
- Location
- ADA, MI
- CIK
- 0001633716
- Portfolio Value
- $643.1M (Q3 2024)
- SEC Filing
- 0001633716-24-000009 ↗ filed Oct 8, 2024
Holdings Value
Holdings 256 stocks · $643.1M
| EFA iShares MSCI Eafe ETF | 12.72% | 977,879 | $81.8M | Add +35177.0% |
| SPY SS SPDR S&P 500 ETF Trust-US | 12.56% | 140,772 | $80.8M | Add +0.4% |
| IVW iShares S&P 500 Growth ETF | 12.48% | 838,089 | $80.2M | Reduce -4.2% |
| QQQ Invesco QQQ Trust Series 1 | 12.38% | 163,155 | $79.6M | Reduce -2.7% |
| IJK iShares S&P Mid-Cap 400 Grow | 12.05% | 843,148 | $77.5M | Add +4.4% |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 7.02% | 399,781 | $45.2M | Add +15.6% |
| IVV iShares Core S&P 500 ETF | 5.49% | 61,184 | $35.3M | Reduce -6.3% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 3.49% | 244,578 | $22.5M | Add +2.6% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 1.66% | 133,048 | $10.7M | Add +2.3% |
| TMUS T-Mobile US Inc. | 0.51% | 15,761 | $3.3M | Add +0.6% |
| NVDA Nvidia Corp. | 0.48% | 25,481 | $3.1M | Add +63602.5% |
| AVGO Broadcom Inc. | 0.45% | 16,927 | $2.9M | New |
| CTAS Cintas Corp. | 0.43% | 13,477 | $2.8M | Add +16.0% |
| ISRG Intuitive Surgical Inc. | 0.34% | 4,463 | $2.2M | Add +84.8% |
| COST Costco Wholesale Corp. | 0.32% | 2,315 | $2.1M | Reduce -2.6% |
| GOOG Alphabet Inc. Class C | 0.32% | 12,249 | $2.0M | Reduce -5.8% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.28% | 25,490 | $1.8M | Reduce -2.6% |
| AXP American Express Co. | 0.28% | 6,560 | $1.8M | Add +2.1% |
| PYPL PayPal Holdings Inc. | 0.27% | 22,563 | $1.8M | Add +98000.0% |
| ECL Ecolab Inc. | 0.27% | 6,696 | $1.7M | Add +117.0% |
| AAPL Apple Inc. | 0.26% | 7,260 | $1.7M | Add +24100.0% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.25% | 41,090 | $1.6M | Add +29.9% |
| TT Trane Technologies PLC | 0.25% | 4,065 | $1.6M | Reduce -10.3% |
| CL Colgate-Palmolive Co. | 0.24% | 15,126 | $1.6M | Reduce -9.5% |
| RSG Republic Services Inc. | 0.24% | 7,615 | $1.5M | Reduce -10.1% |
| HAS Hasbro Inc. | 0.24% | 20,984 | $1.5M | Add +36079.3% |
| TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC | 0.23% | 13,609 | $1.5M | Add +25.4% |
| ADI Analog Devices Inc. | 0.23% | 6,377 | $1.5M | Add +48.1% |
| GOOGL Alphabet Inc. Class A | 0.22% | 8,713 | $1.4M | Reduce -16.9% |
| APH Amphenol Corp. Class A | 0.22% | 21,805 | $1.4M | Add +15.8% |
| AEP American Electric Power | 0.22% | 13,805 | $1.4M | Add +1412.0% |
| FITB Fifth Third Bancorp | 0.22% | 32,883 | $1.4M | Add +14.3% |
| KDP Keurig Dr Pepper Inc. | 0.22% | 37,317 | $1.4M | Add +446.0% |
| BSX Boston Scientific Corp. | 0.22% | 16,654 | $1.4M | Reduce -5.6% |
| NFLX Netflix Inc. | 0.21% | 1,937 | $1.4M | Add +27.6% |
| HON Honeywell International Inc. | 0.21% | 6,640 | $1.4M | Add +34.4% |
| PANW Palo Alto Networks Inc. | 0.21% | 3,947 | $1.3M | New |
| EA Electronic Arts Inc. | 0.21% | 9,395 | $1.3M | New |
| KO The Coca-Cola Co. | 0.21% | 18,737 | $1.3M | New |
| VRSK Verisk Analytics Inc. | 0.21% | 4,986 | $1.3M | New |
| AMGN Amgen Inc. | 0.21% | 4,131 | $1.3M | New |
| PGR Progressive Corp. | 0.20% | 5,108 | $1.3M | Reduce -2.8% |
| AZN Astrazeneca PLC-Spons ADR | 0.20% | 16,554 | $1.3M | New |
| GM General Motors Co. | 0.20% | 28,756 | $1.3M | Add +232.8% |
| GE General Electric filed as GE AEROSPACE | 0.20% | 6,739 | $1.3M | Reduce -1.9% |
| GLW Corning Inc. | 0.20% | 27,812 | $1.3M | New |
| JPM JPMorgan Chase & Co. | 0.20% | 5,949 | $1.3M | Add +20.4% |
| RCL Royal Caribbean Cruises Ltd. | 0.19% | 6,865 | $1.2M | New |
| LDOS Leidos Holdings Inc. | 0.19% | 7,338 | $1.2M | Reduce -4.7% |
| WMT Walmart Inc. | 0.19% | 14,755 | $1.2M | Add +18.2% |
| MTB M & T Bank Corp. filed as M & T BK CORP | 0.18% | 6,584 | $1.2M | New |
| SYF Synchrony Financial | 0.18% | 23,448 | $1.2M | Reduce -0.2% |
| WELL Welltower Inc. | 0.18% | 8,927 | $1.1M | Reduce -18.4% |
| VMRK Vivmark Residential filed as EQUITY RESIDENTIAL | 0.18% | 15,273 | $1.1M | New |
| NI Nisource Inc. | 0.18% | 32,667 | $1.1M | New |
| TRGP Targa Resources Corp. | 0.18% | 7,634 | $1.1M | Add +9.1% |
| GDDY GoDaddy Inc. Class A | 0.18% | 7,189 | $1.1M | Add +217.5% |
| LHX L3HARRIS Technologies Inc. | 0.17% | 4,723 | $1.1M | Reduce -4.1% |
| ELV Elevance Health Inc. | 0.17% | 2,093 | $1.1M | Reduce -18.3% |
| OKE Oneok Inc. | 0.17% | 11,907 | $1.1M | Add +15.8% |
| GS Goldman Sachs Group Inc. | 0.17% | 2,178 | $1.1M | Reduce -6.3% |
| CPT Camden Property Trust | 0.16% | 8,532 | $1.1M | New |
| TYL Tyler Technologies Inc. | 0.16% | 1,799 | $1.1M | New |
| OEF iShares S&P 100 ETF | 0.16% | 3,676 | $1.0M | Reduce -14.2% |
| VTI VG Morningstar TS MKT ETF-US | 0.16% | 3,557 | $1.0M | Reduce -13.3% |
| IWB iShares Russell 1000 ETF | 0.16% | 3,203 | $1.0M | Reduce -13.2% |
| IWM iShares Russell 2000 ETF | 0.16% | 4,531 | $1.0M | Reduce -11.6% |
| IWV iShares Russell 3000 ETF | 0.16% | 3,062 | $1.0M | Reduce -13.2% |
| WAB Wabtec Corp. | 0.16% | 5,500 | $1000K | Reduce -25.8% |
| DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE | 0.15% | 2,345 | $992K | Reduce -11.3% |
| NRG NRG Energy Inc. | 0.15% | 10,388 | $946K | Reduce -29.9% |
| KKR KKR & Co. Inc. | 0.14% | 6,811 | $889K | New |
| HWM Howmet Aerospace Inc. | 0.13% | 8,489 | $851K | Reduce -36.9% |
| DOV Dover Corp. | 0.13% | 4,432 | $850K | New |
| KMI Kinder Morgan Inc. | 0.13% | 37,733 | $834K | New |
| TEL Te Connectivity PLC | 0.13% | 5,344 | $807K | New |
| GD General Dynamics Corp. | 0.13% | 2,669 | $807K | Reduce -28.5% |
| ICE Intercontinental Exchange Inc. | 0.13% | 5,020 | $806K | New |
| MSI Motorola Solutions Inc. | 0.12% | 1,773 | $797K | New |
| UHS Universal Health Services-B | 0.12% | 3,419 | $783K | Reduce -22.4% |
| PG The Procter & Gamble Co. | 0.12% | 4,405 | $763K | Add +87.8% |
| CB Chubb Ltd. | 0.11% | 2,430 | $701K | Reduce -63.5% |
| VZ Verizon Communications Inc. | 0.09% | 13,199 | $593K | Add +25.6% |
| BBY Best Buy Co. Inc. | 0.09% | 5,641 | $583K | Add +127.6% |
| OUSA Alps Oshares US Quality Divi | 0.09% | 10,227 | $552K | Add +1.2% |
| XLK SS Technology Select Sector | 0.08% | 2,213 | $500K | Add +9.2% |
| CRUS Cirrus Logic Inc. | 0.08% | 3,972 | $493K | Add +146.3% |
| VOX Vanguard Communication Servi | 0.08% | 3,363 | $489K | Add +4.3% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.07% | 5,970 | $482K | Reduce -5.0% |
| XLI SS Industrial Select Sector | 0.07% | 3,559 | $482K | Add +4.6% |
| XLB SS Materials Select Sector | 0.07% | 4,953 | $477K | Add +8.1% |
| VNQ Vanguard Real Estate ETF | 0.07% | 4,800 | $468K | Reduce -6.1% |
| WM Waste Management Inc. | 0.07% | 2,245 | $466K | Reduce -70.9% |
| XLP SS Consumer Staples Sel Sect | 0.07% | 5,490 | $456K | Reduce -2.3% |
| XLF SS Financial Select Sector | 0.07% | 10,047 | $455K | Reduce -1.5% |
| XLV SS Health Care Select Sector | 0.07% | 2,927 | $451K | Reduce -0.2% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.06% | 3,342 | $393K | Add +112.3% |
| LOW Lowe's Cos Inc. | 0.06% | 1,429 | $387K | Reduce -8.0% |
| MRSH Marsh & McLennan Cos | 0.06% | 1,724 | $385K | Reduce -7.3% |
| VNOM Viper Energy Inc. | 0.06% | 8,023 | $362K | New |
Portfolio Sells Q2 2024 → Q3 2024
| MDY State Street SPDR S&P Midcap | Reduce -100.0% | 0.00% | −11.44 |
| IVW iShares S&P 500 Growth ETF | Reduce -4.2% | 12.48% | −0.64 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -2.7% | 12.38% | −0.64 |
| GSG iShares S&P Gsci Commodity I | Reduce -96.3% | 0.02% | −0.53 |
| MU Micron Technology Inc. | Sold out | 0.00% | −0.40 |
| QCOM Qualcomm Inc. | Sold out | 0.00% | −0.36 |
| FANG Diamondback Energy Inc. | Sold out | 0.00% | −0.36 |
| KLAC KLA Corp. | Sold out | 0.00% | −0.35 |
| IVV iShares Core S&P 500 ETF | Reduce -6.3% | 5.49% | −0.31 |
| META Meta Platforms Inc. Class A | Sold out | 0.00% | −0.30 |
| CRWD CrowdStrike Holdings Inc. Class A | Sold out | 0.00% | −0.25 |
| INTU Intuit Inc. | Reduce -98.9% | 0.00% | −0.22 |
| HIG Hartford Insurance Group Inc. | Reduce -83.8% | 0.05% | −0.22 |
| AMAT Applied Materials Inc. | Sold out | 0.00% | −0.21 |
| LRCX Lam Research Corp. | Sold out | 0.00% | −0.20 |
| WM Waste Management Inc. | Reduce -70.9% | 0.07% | −0.19 |
| MSFT Microsoft Corp. | Reduce -86.6% | 0.03% | −0.18 |
| AMZN Amazon.com Inc. | Sold out | 0.00% | −0.18 |
| C Citigroup Inc. | Reduce -82.5% | 0.04% | −0.18 |
| WFC Wells Fargo & Co. | Sold out | 0.00% | −0.18 |
| ALL Allstate Corp. | Sold out | 0.00% | −0.17 |
| AIG American International Group | Sold out | 0.00% | −0.17 |
| WRK Westrock Co. | Sold out | 0.00% | −0.17 |
| LLY Eli Lilly & Co. | Sold out | 0.00% | −0.17 |
| CPRT Copart Inc. | Sold out | 0.00% | −0.17 |
| CB Chubb Ltd. | Reduce -63.5% | 0.11% | −0.17 |
| ETN Eaton Corp. PLC | Sold out | 0.00% | −0.17 |
| FISV Fiserv Inc. | Sold out | 0.00% | −0.16 |
| VRTX Vertex Pharmaceuticals Inc. | Sold out | 0.00% | −0.16 |
| DXCM Dexcom Inc. | Sold out | 0.00% | −0.16 |
| PCAR Paccar Inc. | Sold out | 0.00% | −0.16 |
| NXPI NXP Semiconductors NV | Sold out | 0.00% | −0.16 |
| AMD Advanced Micro Devices | Sold out | 0.00% | −0.16 |
| MCHP Microchip Technology Inc. | Sold out | 0.00% | −0.16 |
| ASML ASML Holding NV-NY Reg SHS | Sold out | 0.00% | −0.16 |
| REGN Regeneron Pharmaceuticals | Sold out | 0.00% | −0.16 |
| XYL Xylem Inc. | Sold out | 0.00% | −0.13 |
| ETR Entergy Corp. | Reduce -91.7% | 0.01% | −0.13 |
| COR Cencora Inc. | Sold out | 0.00% | −0.13 |
| GOOGL Alphabet Inc. Class A | Reduce -16.9% | 0.22% | −0.09 |
| XLY SS Consumer Disc Select Sect | Sold out | 0.00% | −0.07 |
| GOOG Alphabet Inc. Class C | Reduce -5.8% | 0.32% | −0.07 |
| XLE SS Energy Select Sector | Sold out | 0.00% | −0.07 |
| MRK Merck & Co. Inc. | Reduce -67.1% | 0.03% | −0.06 |
| CASY Casey's General Stores Inc. | Sold out | 0.00% | −0.06 |
| FCX Freeport-McMoran Inc. | Sold out | 0.00% | −0.06 |
| ELV Elevance Health Inc. | Reduce -18.3% | 0.17% | −0.06 |
| WWD Woodward Inc. | Sold out | 0.00% | −0.05 |
| BAH Booz Allen Hamilton Holdings | Sold out | 0.00% | −0.05 |
| SKX Skechers USA Inc. Class A | Sold out | 0.00% | −0.05 |
Portfolio Buys Q2 2024 → Q3 2024
| EFA iShares MSCI Eafe ETF | Add +35177.0% | 12.72% | +12.68 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Add +15.6% | 7.02% | +1.02 |
| IJK iShares S&P Mid-Cap 400 Grow | Add +4.4% | 12.05% | +0.51 |
| NVDA Nvidia Corp. | Add +63602.5% | 0.48% | +0.48 |
| AVGO Broadcom Inc. | New | 0.45% | +0.45 |
| PYPL PayPal Holdings Inc. | Add +98000.0% | 0.27% | +0.27 |
| AAPL Apple Inc. | Add +24100.0% | 0.26% | +0.26 |
| HAS Hasbro Inc. | Add +36079.3% | 0.24% | +0.24 |
| PANW Palo Alto Networks Inc. | New | 0.21% | +0.21 |
| EA Electronic Arts Inc. | New | 0.21% | +0.21 |
| KO The Coca-Cola Co. | New | 0.21% | +0.21 |
| VRSK Verisk Analytics Inc. | New | 0.21% | +0.21 |
| AEP American Electric Power | Add +1412.0% | 0.22% | +0.21 |
| AMGN Amgen Inc. | New | 0.21% | +0.21 |
| AZN Astrazeneca PLC-Spons ADR | New | 0.20% | +0.20 |
| GLW Corning Inc. | New | 0.20% | +0.20 |
| RCL Royal Caribbean Cruises Ltd. | New | 0.19% | +0.19 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +0.4% | 12.56% | +0.19 |
| MTB M & T Bank Corp. | New | 0.18% | +0.18 |
| KDP Keurig Dr Pepper Inc. | Add +446.0% | 0.22% | +0.18 |
| VMRK Vivmark Residential | New | 0.18% | +0.18 |
| NI Nisource Inc. | New | 0.18% | +0.18 |
| ISRG Intuitive Surgical Inc. | Add +84.8% | 0.34% | +0.17 |
| CPT Camden Property Trust | New | 0.16% | +0.16 |
| TYL Tyler Technologies Inc. | New | 0.16% | +0.16 |
| ECL Ecolab Inc. | Add +117.0% | 0.27% | +0.15 |
| KKR KKR & Co. Inc. | New | 0.14% | +0.14 |
| GM General Motors Co. | Add +232.8% | 0.20% | +0.14 |
| DOV Dover Corp. | New | 0.13% | +0.13 |
| KMI Kinder Morgan Inc. | New | 0.13% | +0.13 |
| TEL Te Connectivity PLC | New | 0.13% | +0.13 |
| ICE Intercontinental Exchange Inc. | New | 0.13% | +0.13 |
| GDDY GoDaddy Inc. Class A | Add +217.5% | 0.18% | +0.12 |
| MSI Motorola Solutions Inc. | New | 0.12% | +0.12 |
| CTAS Cintas Corp. | Add +16.0% | 0.43% | +0.10 |
| ADI Analog Devices Inc. | Add +48.1% | 0.23% | +0.07 |
| TTD Trade Desk Inc./the Class A | Add +25.4% | 0.23% | +0.06 |
| TMUS T-Mobile US Inc. | Add +0.6% | 0.51% | +0.06 |
| BBY Best Buy Co. Inc. | Add +127.6% | 0.09% | +0.06 |
| VNOM Viper Energy Inc. | New | 0.06% | +0.06 |
| PG The Procter & Gamble Co. | Add +87.8% | 0.12% | +0.06 |
| JEF Jefferies Financial Group Inc. | New | 0.05% | +0.05 |
| R Ryder System Inc. | New | 0.05% | +0.05 |
| THC Tenet Healthcare Corp. | New | 0.05% | +0.05 |
| HLI Houlihan Lokey Inc. | New | 0.05% | +0.05 |
| EHC Encompass Health Corp. | New | 0.05% | +0.05 |
| HEI Heico Corp. | New | 0.05% | +0.05 |
| BAC Bank of America Corp. | Add +29.9% | 0.25% | +0.05 |
| POST Post Holdings Inc. | New | 0.05% | +0.05 |
| CVNA Carvana Co. | New | 0.05% | +0.05 |
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 |