USA Financial Formulas
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 14, 2025), USA Financial Formulas reported 286 stock positions worth $636.4 million. Its top holding was iShares S&P 500 Growth ETF (IVW) at 13.2% of the portfolio, followed by SS SPDR S&P 500 ETF Trust-US (SPY, 12.7%) and SS SPDR Dow Jones Indus Avg (DIA, 12.7%). Compared with Q3 2024, it opened 114 new positions, sold out of 84, added to 45 and reduced 127. The biggest buy was SS SPDR Dow Jones Indus Avg (DIA, shares +7979%) and the biggest sale iShares MSCI Eafe ETF (EFA, shares −100%).
- Most Recent 13F
- Q1 2026
- Location
- ADA, MI
- CIK
- 0001633716
- Portfolio Value
- $636.4M (Q4 2024)
- SEC Filing
- 0001633716-25-000002 ↗ filed Jan 14, 2025
Holdings Value
Holdings 286 stocks · $636.4M
| IVW iShares S&P 500 Growth ETF | 13.20% | 827,204 | $84.0M | Reduce -1.3% |
| SPY SS SPDR S&P 500 ETF Trust-US | 12.71% | 138,043 | $80.9M | Reduce -1.9% |
| DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE | 12.67% | 189,444 | $80.6M | Add +7978.6% |
| IVE iShares S&P 500 Value ETF | 12.13% | 404,398 | $77.2M | New |
| IYR iShares US Real Estate ETF | 11.72% | 801,813 | $74.6M | New |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 6.67% | 397,597 | $42.5M | Reduce -0.6% |
| IVV iShares Core S&P 500 ETF | 5.76% | 62,304 | $36.7M | Add +1.8% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 3.63% | 252,502 | $23.1M | Add +3.2% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 1.54% | 124,266 | $9.8M | Reduce -6.6% |
| TMUS T-Mobile US Inc. | 0.44% | 12,691 | $2.8M | Reduce -19.5% |
| CTAS Cintas Corp. | 0.38% | 13,143 | $2.4M | Reduce -2.5% |
| XEL Xcel Energy Inc. | 0.37% | 35,063 | $2.4M | New |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.28% | 23,416 | $1.8M | Reduce -8.1% |
| AAPL Apple Inc. | 0.25% | 6,469 | $1.6M | Reduce -10.9% |
| PYPL PayPal Holdings Inc. | 0.25% | 18,486 | $1.6M | Reduce -18.1% |
| GILD Gilead Sciences Inc. | 0.24% | 16,664 | $1.5M | New |
| ILMN Illumina Inc. | 0.23% | 10,833 | $1.4M | New |
| FTNT Fortinet Inc. | 0.22% | 14,926 | $1.4M | New |
| CSCO Cisco Systems Inc. | 0.22% | 23,571 | $1.4M | New |
| AMZN Amazon.com Inc. | 0.21% | 6,207 | $1.4M | New |
| FOXA Fox Corp. Class A | 0.21% | 27,657 | $1.3M | Add +3196.4% |
| KMI Kinder Morgan Inc. | 0.21% | 48,271 | $1.3M | Add +27.9% |
| FITB Fifth Third Bancorp | 0.21% | 31,256 | $1.3M | Reduce -5.0% |
| BSX Boston Scientific Corp. | 0.20% | 14,536 | $1.3M | Reduce -12.7% |
| ADSK Autodesk Inc. | 0.20% | 4,380 | $1.3M | New |
| BKR Baker Hughes Co. | 0.20% | 31,288 | $1.3M | New |
| HON Honeywell International Inc. | 0.20% | 5,664 | $1.3M | Reduce -14.7% |
| TT Trane Technologies PLC | 0.20% | 3,459 | $1.3M | Reduce -14.9% |
| NFLX Netflix Inc. | 0.20% | 1,411 | $1.3M | Reduce -27.2% |
| WMT Walmart Inc. | 0.20% | 13,842 | $1.3M | Reduce -6.2% |
| WMB Williams Cos Inc. | 0.20% | 23,009 | $1.2M | New |
| META Meta Platforms Inc. Class A | 0.20% | 2,125 | $1.2M | New |
| ETR Entergy Corp. | 0.20% | 16,375 | $1.2M | Add +1105.8% |
| PODD Insulet Corp. | 0.19% | 4,725 | $1.2M | New |
| MSI Motorola Solutions Inc. | 0.19% | 2,661 | $1.2M | Add +50.1% |
| TXN Texas Instruments Inc. | 0.19% | 6,537 | $1.2M | New |
| ISRG Intuitive Surgical Inc. | 0.19% | 2,348 | $1.2M | Reduce -47.4% |
| VRSK Verisk Analytics Inc. | 0.19% | 4,415 | $1.2M | Reduce -11.4% |
| DDOG Datadog Inc. Class A | 0.19% | 8,504 | $1.2M | New |
| NI Nisource Inc. | 0.19% | 32,897 | $1.2M | Add +0.7% |
| SRE Sempra | 0.19% | 13,659 | $1.2M | New |
| MS Morgan Stanley | 0.19% | 9,504 | $1.2M | New |
| SYF Synchrony Financial | 0.19% | 18,365 | $1.2M | Reduce -21.7% |
| VTR Ventas Inc. | 0.19% | 20,076 | $1.2M | New |
| TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC | 0.18% | 9,983 | $1.2M | Reduce -26.6% |
| COST Costco Wholesale Corp. | 0.18% | 1,277 | $1.2M | Reduce -44.8% |
| EA Electronic Arts Inc. | 0.18% | 7,930 | $1.2M | Reduce -15.6% |
| OKE Oneok Inc. | 0.18% | 11,551 | $1.2M | Reduce -3.0% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.18% | 26,358 | $1.2M | Reduce -35.9% |
| ZBRA Zebra Technologies Corp. Class A | 0.18% | 2,998 | $1.2M | New |
| ATO Atmos Energy Corp. | 0.18% | 8,255 | $1.1M | New |
| RCL Royal Caribbean Cruises Ltd. | 0.18% | 4,967 | $1.1M | Reduce -27.6% |
| LNT Alliant Energy Corp. | 0.18% | 19,363 | $1.1M | New |
| TRGP Targa Resources Corp. | 0.18% | 6,406 | $1.1M | Reduce -16.1% |
| WELL Welltower Inc. | 0.18% | 9,029 | $1.1M | Add +1.1% |
| PEG Public Service Enterprise GP | 0.18% | 13,207 | $1.1M | New |
| KKR KKR & Co. Inc. | 0.17% | 7,477 | $1.1M | Add +9.8% |
| GS Goldman Sachs Group Inc. | 0.17% | 1,924 | $1.1M | Reduce -11.7% |
| MTB M & T Bank Corp. filed as M & T BK CORP | 0.17% | 5,819 | $1.1M | Reduce -11.6% |
| AVB Avalonbay Communities Inc. | 0.17% | 4,970 | $1.1M | New |
| TYL Tyler Technologies Inc. | 0.17% | 1,862 | $1.1M | Add +3.5% |
| LHX L3HARRIS Technologies Inc. | 0.17% | 5,013 | $1.1M | Add +6.1% |
| AXON Axon Enterprise Inc. | 0.16% | 1,738 | $1.0M | New |
| QQQ Invesco QQQ Trust Series 1 | 0.16% | 1,966 | $1.0M | Reduce -98.8% |
| OEF iShares S&P 100 ETF | 0.16% | 3,459 | $999K | Reduce -5.9% |
| IWB iShares Russell 1000 ETF | 0.15% | 3,038 | $979K | Reduce -5.2% |
| VTI VG Morningstar TS MKT ETF-US | 0.15% | 3,366 | $976K | Reduce -5.4% |
| IWV iShares Russell 3000 ETF | 0.15% | 2,905 | $971K | Reduce -5.1% |
| PGR Progressive Corp. | 0.15% | 3,971 | $951K | Reduce -22.3% |
| IWM iShares Russell 2000 ETF | 0.15% | 4,288 | $947K | Reduce -5.4% |
| UAL United Airlines Holdings Inc. | 0.14% | 9,506 | $923K | New |
| APD Air Products & Chemicals Inc. | 0.14% | 3,148 | $913K | New |
| WAB Wabtec Corp. | 0.14% | 4,782 | $907K | Reduce -13.1% |
| GDDY GoDaddy Inc. Class A | 0.14% | 4,387 | $866K | Reduce -39.0% |
| NDAQ Nasdaq Inc. | 0.13% | 11,078 | $856K | New |
| ECL Ecolab Inc. | 0.13% | 3,637 | $852K | Reduce -45.7% |
| HWM Howmet Aerospace Inc. | 0.13% | 7,544 | $825K | Reduce -11.1% |
| AEE Ameren Corporation | 0.13% | 9,234 | $823K | New |
| MMM 3M Co. | 0.13% | 6,320 | $816K | New |
| WFC Wells Fargo & Co. | 0.13% | 11,462 | $805K | New |
| DUK Duke Energy Corp. | 0.13% | 7,460 | $804K | New |
| FISV Fiserv Inc. | 0.13% | 3,909 | $803K | New |
| DOV Dover Corp. | 0.12% | 4,150 | $779K | Reduce -6.4% |
| PNC PNC Financial Services Group | 0.12% | 4,020 | $775K | Add +212.3% |
| PG The Procter & Gamble Co. | 0.12% | 4,623 | $775K | Add +5.0% |
| VST Vistra Corp. | 0.12% | 5,481 | $756K | New |
| HPE Hewlett Packard Enterprise | 0.10% | 28,883 | $617K | New |
| RTX RTX Corp. | 0.10% | 5,273 | $610K | Add +3925.2% |
| GM General Motors Co. | 0.09% | 11,121 | $592K | Reduce -61.3% |
| BBY Best Buy Co. Inc. | 0.09% | 6,861 | $589K | Add +21.6% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.09% | 5,210 | $580K | Add +2894.3% |
| VZ Verizon Communications Inc. | 0.09% | 14,302 | $572K | Add +8.4% |
| KEYS Keysight Technologies Inc. | 0.09% | 3,558 | $572K | New |
| OUSA Alps Oshares US Quality Divi | 0.09% | 10,241 | $544K | Add +0.1% |
| HAS Hasbro Inc. | 0.08% | 9,350 | $523K | Reduce -55.4% |
| CB Chubb Ltd. | 0.08% | 1,786 | $493K | Reduce -26.5% |
| XLY SS Consumer Disc Select Sect | 0.07% | 1,960 | $440K | New |
| ABT Abbott Laboratories | 0.07% | 3,855 | $436K | New |
| VOX Vanguard Communication Servi | 0.07% | 2,751 | $426K | Reduce -18.2% |
| XLK SS Technology Select Sector | 0.07% | 1,814 | $422K | Reduce -18.0% |
Portfolio Sells Q3 2024 → Q4 2024
| EFA iShares MSCI Eafe ETF | Reduce -99.8% | 0.02% | −12.69 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -98.8% | 0.16% | −12.22 |
| IJK iShares S&P Mid-Cap 400 Grow | Sold out | 0.00% | −12.05 |
| NVDA Nvidia Corp. | Sold out | 0.00% | −0.48 |
| AVGO Broadcom Inc. | Sold out | 0.00% | −0.45 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Reduce -0.6% | 6.67% | −0.35 |
| GOOG Alphabet Inc. Class C | Reduce -99.3% | 0.00% | −0.32 |
| AXP American Express Co. | Reduce -99.2% | 0.00% | −0.27 |
| ADI Analog Devices Inc. | Sold out | 0.00% | −0.23 |
| GOOGL Alphabet Inc. Class A | Sold out | 0.00% | −0.22 |
| AEP American Electric Power | Sold out | 0.00% | −0.22 |
| KDP Keurig Dr Pepper Inc. | Sold out | 0.00% | −0.22 |
| CL Colgate-Palmolive Co. | Reduce -84.6% | 0.03% | −0.21 |
| PANW Palo Alto Networks Inc. | Sold out | 0.00% | −0.21 |
| KO The Coca-Cola Co. | Sold out | 0.00% | −0.21 |
| AMGN Amgen Inc. | Sold out | 0.00% | −0.21 |
| APH Amphenol Corp. Class A | Reduce -93.9% | 0.01% | −0.21 |
| AZN Astrazeneca PLC-Spons ADR | Sold out | 0.00% | −0.20 |
| GE General Electric | Sold out | 0.00% | −0.20 |
| GLW Corning Inc. | Sold out | 0.00% | −0.20 |
| JPM JPMorgan Chase & Co. | Sold out | 0.00% | −0.20 |
| RSG Republic Services Inc. | Reduce -80.2% | 0.05% | −0.19 |
| LDOS Leidos Holdings Inc. | Sold out | 0.00% | −0.19 |
| VMRK Vivmark Residential | Sold out | 0.00% | −0.18 |
| ELV Elevance Health Inc. | Sold out | 0.00% | −0.17 |
| CPT Camden Property Trust | Sold out | 0.00% | −0.16 |
| HAS Hasbro Inc. | Reduce -55.4% | 0.08% | −0.15 |
| ISRG Intuitive Surgical Inc. | Reduce -47.4% | 0.19% | −0.15 |
| NRG NRG Energy Inc. | Sold out | 0.00% | −0.15 |
| COST Costco Wholesale Corp. | Reduce -44.8% | 0.18% | −0.14 |
| ECL Ecolab Inc. | Reduce -45.7% | 0.13% | −0.13 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Reduce -6.6% | 1.54% | −0.13 |
| TEL Te Connectivity PLC | Sold out | 0.00% | −0.13 |
| GD General Dynamics Corp. | Sold out | 0.00% | −0.13 |
| ICE Intercontinental Exchange Inc. | Sold out | 0.00% | −0.13 |
| UHS Universal Health Services-B | Sold out | 0.00% | −0.12 |
| GM General Motors Co. | Reduce -61.3% | 0.09% | −0.11 |
| CRUS Cirrus Logic Inc. | Sold out | 0.00% | −0.08 |
| BAC Bank of America Corp. | Reduce -35.9% | 0.18% | −0.07 |
| XLV SS Health Care Select Sector | Sold out | 0.00% | −0.07 |
| TMUS T-Mobile US Inc. | Reduce -19.5% | 0.44% | −0.07 |
| VNOM Viper Energy Inc. | Sold out | 0.00% | −0.06 |
| CTAS Cintas Corp. | Reduce -2.5% | 0.38% | −0.05 |
| V Visa Inc. Class A | Sold out | 0.00% | −0.05 |
| PGR Progressive Corp. | Reduce -22.3% | 0.15% | −0.05 |
| THC Tenet Healthcare Corp. | Sold out | 0.00% | −0.05 |
| HLI Houlihan Lokey Inc. | Sold out | 0.00% | −0.05 |
| HEI Heico Corp. | Sold out | 0.00% | −0.05 |
| CACI Caci International Inc. Class A | Sold out | 0.00% | −0.05 |
| POST Post Holdings Inc. | Sold out | 0.00% | −0.05 |
Portfolio Buys Q3 2024 → Q4 2024
| DIA SS SPDR Dow Jones Indus Avg | Add +7978.6% | 12.67% | +12.51 |
| IVE iShares S&P 500 Value ETF | New | 12.13% | +12.13 |
| IYR iShares US Real Estate ETF | New | 11.72% | +11.72 |
| XEL Xcel Energy Inc. | New | 0.37% | +0.37 |
| IVV iShares Core S&P 500 ETF | Add +1.8% | 5.76% | +0.28 |
| GILD Gilead Sciences Inc. | New | 0.24% | +0.24 |
| ILMN Illumina Inc. | New | 0.23% | +0.23 |
| FTNT Fortinet Inc. | New | 0.22% | +0.22 |
| CSCO Cisco Systems Inc. | New | 0.22% | +0.22 |
| AMZN Amazon.com Inc. | New | 0.21% | +0.21 |
| FOXA Fox Corp. Class A | Add +3196.4% | 0.21% | +0.21 |
| ADSK Autodesk Inc. | New | 0.20% | +0.20 |
| BKR Baker Hughes Co. | New | 0.20% | +0.20 |
| WMB Williams Cos Inc. | New | 0.20% | +0.20 |
| META Meta Platforms Inc. Class A | New | 0.20% | +0.20 |
| PODD Insulet Corp. | New | 0.19% | +0.19 |
| TXN Texas Instruments Inc. | New | 0.19% | +0.19 |
| DDOG Datadog Inc. Class A | New | 0.19% | +0.19 |
| SRE Sempra | New | 0.19% | +0.19 |
| MS Morgan Stanley | New | 0.19% | +0.19 |
| VTR Ventas Inc. | New | 0.19% | +0.19 |
| ZBRA Zebra Technologies Corp. Class A | New | 0.18% | +0.18 |
| ETR Entergy Corp. | Add +1105.8% | 0.20% | +0.18 |
| ATO Atmos Energy Corp. | New | 0.18% | +0.18 |
| LNT Alliant Energy Corp. | New | 0.18% | +0.18 |
| PEG Public Service Enterprise GP | New | 0.18% | +0.18 |
| AVB Avalonbay Communities Inc. | New | 0.17% | +0.17 |
| AXON Axon Enterprise Inc. | New | 0.16% | +0.16 |
| UAL United Airlines Holdings Inc. | New | 0.14% | +0.14 |
| APD Air Products & Chemicals Inc. | New | 0.14% | +0.14 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Add +3.2% | 3.63% | +0.14 |
| NDAQ Nasdaq Inc. | New | 0.13% | +0.13 |
| AEE Ameren Corporation | New | 0.13% | +0.13 |
| MMM 3M Co. | New | 0.13% | +0.13 |
| WFC Wells Fargo & Co. | New | 0.13% | +0.13 |
| DUK Duke Energy Corp. | New | 0.13% | +0.13 |
| FISV Fiserv Inc. | New | 0.13% | +0.13 |
| VST Vistra Corp. | New | 0.12% | +0.12 |
| HPE Hewlett Packard Enterprise | New | 0.10% | +0.10 |
| RTX RTX Corp. | Add +3925.2% | 0.10% | +0.09 |
| KEYS Keysight Technologies Inc. | New | 0.09% | +0.09 |
| DIS The Walt Disney Co. | Add +2894.3% | 0.09% | +0.09 |
| PNC PNC Financial Services Group | Add +212.3% | 0.12% | +0.08 |
| KMI Kinder Morgan Inc. | Add +27.9% | 0.21% | +0.08 |
| MSI Motorola Solutions Inc. | Add +50.1% | 0.19% | +0.07 |
| XLY SS Consumer Disc Select Sect | New | 0.07% | +0.07 |
| ABT Abbott Laboratories | New | 0.07% | +0.07 |
| IBKR Interactive Brokers Gro Class A | New | 0.06% | +0.06 |
| XLE SS Energy Select Sector | New | 0.06% | +0.06 |
| VIRT Virtu Financial Inc. Class A | Add +910.5% | 0.06% | +0.06 |
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 |