USA Financial Formulas
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 14, 2026), USA Financial Formulas reported 414 stock positions worth $549.6 million. Its top holding was iShares Core S&P 500 ETF (IVV) at 14.8% of the portfolio, followed by iShares MSCI Emerging Market (EEM, 11.9%) and Invesco QQQ Trust Series 1 (QQQ, 11.9%). Compared with Q3 2025, it opened 225 new positions, sold out of 69, added to 32 and reduced 157. The biggest buy was Ishr Ibx Usd Invgd CB ETF-Ui (LQD, shares +33%) and the biggest sale iShares S&P Gsci Commodity I (GSG, shares −96%).
- Most Recent 13F
- Q1 2026
- Location
- ADA, MI
- CIK
- 0001633716
- Portfolio Value
- $549.6M (Q4 2025)
- SEC Filing
- 0001633716-26-000003 ↗ filed Jan 14, 2026
Holdings Value
Holdings 414 stocks · $549.6M
| IVV iShares Core S&P 500 ETF | 14.80% | 118,799 | $81.4M | Add +0.1% |
| EEM iShares MSCI Emerging Market | 11.90% | 1,195,549 | $65.4M | Reduce -5.6% |
| QQQ Invesco QQQ Trust Series 1 | 11.87% | 106,196 | $65.2M | Reduce -2.3% |
| IVW iShares S&P 500 Growth ETF | 11.76% | 524,309 | $64.6M | Reduce -4.2% |
| SPY SS SPDR S&P 500 ETF Trust-US | 11.74% | 94,596 | $64.5M | Reduce -2.6% |
| EFA iShares MSCI Eafe ETF | 11.71% | 670,448 | $64.4M | Reduce -3.0% |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 4.68% | 233,460 | $25.7M | Add +33.2% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 1.19% | 81,181 | $6.5M | Reduce -9.0% |
| SIXJ Allian US Equ 6 Mon BU10-Usd | 0.76% | 121,073 | $4.2M | Reduce -16.1% |
| SIXO Allian US Equ 6 Mon BU10-Usd | 0.74% | 116,963 | $4.1M | Reduce -15.0% |
| IYZ iShares US Telecommunication | 0.50% | 80,884 | $2.7M | Reduce -12.4% |
| IYW iShares Ustechnology ETF | 0.48% | 13,126 | $2.6M | Reduce -13.7% |
| IYH iShares U.S. Healthcare ETF | 0.46% | 39,109 | $2.5M | New |
| IDU iShares US Utilities ETF | 0.46% | 23,319 | $2.5M | Reduce -9.7% |
| MU Micron Technology Inc. | 0.39% | 7,417 | $2.1M | New |
| ARLU Allianzim US BF15 Uncap Apr | 0.38% | 68,867 | $2.1M | Reduce -17.4% |
| JULU Allianzim US BF15 Uncap Jul | 0.38% | 69,897 | $2.1M | Reduce -17.1% |
| JANU Allianzim US BF15 Uncap Jan | 0.38% | 73,761 | $2.1M | Reduce -16.9% |
| OCTU Allianzim US BF15 Uncap Oct | 0.38% | 72,839 | $2.1M | Reduce -16.9% |
| GOOG Alphabet Inc. Class C | 0.34% | 6,026 | $1.9M | New |
| MNST Monster Beverage Corp. | 0.34% | 24,169 | $1.9M | Reduce -9.8% |
| LRCX Lam Research Corp. | 0.33% | 10,539 | $1.8M | New |
| AEP American Electric Power | 0.31% | 14,788 | $1.7M | Add +1481.6% |
| GOOGL Alphabet Inc. Class A | 0.29% | 5,060 | $1.6M | New |
| XEL Xcel Energy Inc. | 0.29% | 21,435 | $1.6M | Add +491.3% |
| AMD Advanced Micro Devices | 0.28% | 7,138 | $1.5M | New |
| AVGO Broadcom Inc. | 0.26% | 4,072 | $1.4M | New |
| IDXX Idexx Laboratories Inc. | 0.26% | 2,077 | $1.4M | Reduce -44.3% |
| GILD Gilead Sciences Inc. | 0.20% | 9,045 | $1.1M | Add +14975.0% |
| CSCO Cisco Systems Inc. | 0.20% | 13,989 | $1.1M | Reduce -63.4% |
| RTX RTX Corp. | 0.19% | 5,686 | $1.0M | Reduce -47.9% |
| CSX CSX Corp. | 0.17% | 26,373 | $956K | Add +382.8% |
| JNJ Johnson & Johnson | 0.17% | 4,476 | $926K | Reduce -5.6% |
| AZN Astrazeneca PLC-Spons ADR | 0.17% | 10,063 | $925K | New |
| ADI Analog Devices Inc. | 0.17% | 3,358 | $911K | New |
| FE Firstenergy Corp. | 0.16% | 20,246 | $906K | New |
| JCI Johnson Controls Internation | 0.16% | 7,508 | $899K | Reduce -32.4% |
| EXC Exelon Corp. | 0.16% | 20,184 | $880K | Add +13092.2% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.16% | 7,501 | $871K | Reduce -53.6% |
| EW Edwards Lifesciences Corp. | 0.16% | 10,014 | $854K | Reduce -35.2% |
| KEYS Keysight Technologies Inc. | 0.15% | 4,097 | $832K | New |
| BKR Baker Hughes Co. | 0.15% | 18,234 | $830K | New |
| C Citigroup Inc. | 0.15% | 6,956 | $812K | Reduce -44.9% |
| GM General Motors Co. | 0.14% | 9,747 | $793K | New |
| MPC Marathon Petroleum Corp. | 0.14% | 4,862 | $791K | New |
| GD General Dynamics Corp. | 0.14% | 2,299 | $774K | Add +385.0% |
| NEM Newmont Corp. | 0.14% | 7,677 | $767K | Reduce -27.8% |
| DDOG Datadog Inc. Class A | 0.14% | 5,627 | $765K | New |
| CAT Caterpillar Inc. | 0.14% | 1,328 | $761K | Add +243.2% |
| WDC Western Digital Corp. | 0.13% | 4,273 | $736K | Reduce -53.8% |
| OUSA Alps Oshares US Quality Divi | 0.13% | 12,493 | $721K | Add +3.2% |
| JPM JPMorgan Chase & Co. | 0.13% | 2,226 | $717K | Reduce -42.3% |
| GS Goldman Sachs Group Inc. | 0.13% | 794 | $698K | Reduce -37.6% |
| GE General Electric filed as GE AEROSPACE | 0.13% | 2,253 | $694K | New |
| ULTA Ulta Beauty Inc. | 0.13% | 1,144 | $692K | Reduce -16.3% |
| OEF iShares S&P 100 ETF | 0.13% | 2,007 | $688K | Reduce -7.6% |
| IWM iShares Russell 2000 ETF | 0.13% | 2,791 | $687K | Reduce -6.9% |
| VOO Vanguard S&P 500 ETF | 0.12% | 1,088 | $682K | New |
| CHRW C.H. Robinson Worldwide Inc. | 0.12% | 4,243 | $682K | Reduce -29.2% |
| DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE | 0.12% | 1,419 | $682K | Reduce -5.5% |
| IWV iShares Russell 3000 ETF | 0.12% | 1,759 | $680K | Reduce -6.3% |
| VTI VG Morningstar TS MKT ETF-US | 0.12% | 2,029 | $680K | Reduce -6.0% |
| IWB iShares Russell 1000 ETF | 0.12% | 1,821 | $680K | Reduce -6.1% |
| FSLR First Solar Inc. | 0.12% | 2,573 | $672K | New |
| GLW Corning Inc. | 0.12% | 7,669 | $671K | Reduce -37.6% |
| APH Amphenol Corp. Class A | 0.12% | 4,919 | $665K | Reduce -33.9% |
| SRE Sempra | 0.12% | 7,511 | $663K | New |
| HWM Howmet Aerospace Inc. | 0.12% | 3,163 | $648K | Reduce -30.3% |
| LDOS Leidos Holdings Inc. | 0.12% | 3,588 | $647K | New |
| EVRG Evergy Inc. | 0.12% | 8,900 | $645K | Reduce -20.1% |
| BG Bunge Global SA | 0.12% | 7,134 | $635K | New |
| WELL Welltower Inc. | 0.11% | 3,366 | $625K | New |
| PWR Quanta Services Inc. | 0.11% | 1,441 | $608K | New |
| IUSV iShares Core S&P U.S. Value | 0.11% | 5,672 | $582K | New |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.11% | 1,190 | $581K | New |
| IVZ Invesco Ltd. | 0.10% | 20,665 | $543K | New |
| SCHW Schwab (charles) Corp. | 0.10% | 5,290 | $529K | Reduce -13.2% |
| LHX L3HARRIS Technologies Inc. | 0.10% | 1,789 | $525K | Reduce -10.7% |
| MS Morgan Stanley | 0.10% | 2,956 | $525K | Reduce -22.1% |
| TER Teradyne Inc. | 0.09% | 2,670 | $517K | New |
| INCY Incyte Corp. | 0.09% | 5,201 | $514K | New |
| EWJ iShares MSCI Japan ETF | 0.09% | 6,267 | $506K | Add +275.3% |
| TEL Te Connectivity PLC | 0.09% | 2,144 | $488K | Reduce -22.3% |
| ROK Rockwell Automation Inc. | 0.09% | 1,253 | $488K | Reduce -21.4% |
| IEMG iShares Core MSCI Emerging | 0.09% | 7,232 | $486K | New |
| NEE Nextera Energy Inc. | 0.09% | 5,990 | $481K | New |
| LVS Las Vegas Sands Corp. | 0.09% | 7,331 | $477K | New |
| VLO Valero Energy Corp. | 0.08% | 2,815 | $458K | New |
| CIEN Ciena Corp. | 0.08% | 1,861 | $435K | Reduce -58.6% |
| RSG Republic Services Inc. | 0.08% | 1,978 | $419K | Reduce -19.6% |
| GSG iShares S&P Gsci Commodity I | 0.07% | 15,897 | $367K | Reduce -95.5% |
| HPE Hewlett Packard Enterprise | 0.06% | 14,460 | $347K | New |
| OUSM Alps Oshares US Small-Cap Qu | 0.06% | 7,815 | $342K | Add +3.1% |
| OEFA Alps O'shares Intl Dev QLTY | 0.06% | 10,120 | $338K | Add +0.1% |
| OGIG Alps Oshares Global Internet | 0.06% | 6,404 | $337K | Add +3.2% |
| MA Mastercard Inc. Class A | 0.06% | 581 | $332K | Reduce -27.8% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.06% | 6,026 | $331K | Reduce -32.0% |
| LEA Lear Corp. | 0.06% | 2,831 | $324K | New |
| HAS Hasbro Inc. | 0.06% | 3,813 | $313K | New |
| EWU iShares MSCI United Kingdom | 0.06% | 7,079 | $311K | New |
Portfolio Sells Q3 2025 → Q4 2025
| GSG iShares S&P Gsci Commodity I | Reduce -95.5% | 0.07% | −1.37 |
| IYF iShares US Financials ETF | Sold out | 0.00% | −0.51 |
| WBD Warner Bros Discovery Inc. | Reduce -99.5% | 0.00% | −0.49 |
| EA Electronic Arts Inc. | Sold out | 0.00% | −0.34 |
| INTU Intuit Inc. | Reduce -99.3% | 0.00% | −0.29 |
| CSGP Costar Group Inc. | Reduce -99.2% | 0.00% | −0.28 |
| CSCO Cisco Systems Inc. | Reduce -63.4% | 0.20% | −0.27 |
| ETR Entergy Corp. | Reduce -85.3% | 0.04% | −0.20 |
| NDAQ Nasdaq Inc. | Sold out | 0.00% | −0.17 |
| IDXX Idexx Laboratories Inc. | Reduce -44.3% | 0.26% | −0.16 |
| APTV Aptiv PLC | Reduce -99.9% | 0.00% | −0.16 |
| ESGE iShares Inc. iShares ESG Awar | Reduce -99.6% | 0.00% | −0.16 |
| ATO Atmos Energy Corp. | Reduce -99.9% | 0.00% | −0.15 |
| BNY Bank of New York Mellon Corp. | Reduce -53.6% | 0.16% | −0.15 |
| PPA Invesco Aerospace & Defense | Reduce -99.6% | 0.00% | −0.15 |
| VEU Vanguard Ftse All-World Ex-U | Reduce -86.2% | 0.03% | −0.15 |
| ALLE Allegion PLC | Reduce -99.9% | 0.00% | −0.15 |
| IEV iShares Europe ETF | Reduce -86.5% | 0.03% | −0.15 |
| VSS Vanguard Ftse All Wo X-US SC | Reduce -85.9% | 0.03% | −0.15 |
| VYMI Vanguard Int High DVD YLD Inc. | Reduce -99.6% | 0.00% | −0.15 |
| NI Nisource Inc. | Reduce -99.9% | 0.00% | −0.14 |
| STT State Street Corp. | Sold out | 0.00% | −0.14 |
| DLTR Dollar Tree Inc. | Sold out | 0.00% | −0.14 |
| LH Labcorp Holdings Inc. | Reduce -99.9% | 0.00% | −0.14 |
| DG Dollar General Corp. | Sold out | 0.00% | −0.14 |
| JBL Jabil Inc. | Reduce -99.9% | 0.00% | −0.13 |
| RTX RTX Corp. | Reduce -47.9% | 0.19% | −0.13 |
| GL Globe Life Inc. | Reduce -89.6% | 0.02% | −0.13 |
| RL Ralph Lauren Corp. | Reduce -100.0% | 0.00% | −0.13 |
| NOC Northrop Grumman Corp. | Reduce -99.9% | 0.00% | −0.13 |
| CNP Centerpoint Energy Inc. | Reduce -69.4% | 0.06% | −0.12 |
| RCL Royal Caribbean Cruises Ltd. | Sold out | 0.00% | −0.12 |
| MOS The Mosaic Co. | Sold out | 0.00% | −0.11 |
| DTE DTE Energy Company | Reduce -99.8% | 0.00% | −0.10 |
| BWA Borgwarner Inc. | Reduce -76.8% | 0.03% | −0.10 |
| CCL Carnival Corp. | Sold out | 0.00% | −0.10 |
| ROL Rollins Inc. | Reduce -75.2% | 0.03% | −0.10 |
| LYV Live Nation Entertainment Inc. | Sold out | 0.00% | −0.10 |
| CBRE CBRE Group Inc. Class A | Sold out | 0.00% | −0.10 |
| RMD Resmed Inc. | Reduce -99.8% | 0.00% | −0.10 |
| KR Kroger Co. | Sold out | 0.00% | −0.10 |
| SIXJ Allian US Equ 6 Mon BU10-Usd | Reduce -16.1% | 0.76% | −0.09 |
| PODD Insulet Corp. | Sold out | 0.00% | −0.09 |
| EBAY eBay Inc. | Reduce -96.8% | 0.00% | −0.09 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Reduce -9.0% | 1.19% | −0.09 |
| CVS CVS Health Corp. | Reduce -98.7% | 0.00% | −0.08 |
| JPM JPMorgan Chase & Co. | Reduce -42.3% | 0.13% | −0.08 |
| SIXO Allian US Equ 6 Mon BU10-Usd | Reduce -15.0% | 0.74% | −0.08 |
| LNG Cheniere Energy Inc. | Reduce -98.8% | 0.00% | −0.08 |
| COR Cencora Inc. | Reduce -77.5% | 0.03% | −0.08 |
Portfolio Buys Q3 2025 → Q4 2025
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Add +33.2% | 4.68% | +1.24 |
| IVV iShares Core S&P 500 ETF | Add +0.1% | 14.80% | +0.80 |
| IYH iShares U.S. Healthcare ETF | New | 0.46% | +0.46 |
| MU Micron Technology Inc. | New | 0.39% | +0.39 |
| GOOG Alphabet Inc. Class C | New | 0.34% | +0.34 |
| LRCX Lam Research Corp. | New | 0.33% | +0.33 |
| AEP American Electric Power | Add +1481.6% | 0.31% | +0.29 |
| GOOGL Alphabet Inc. Class A | New | 0.29% | +0.29 |
| AMD Advanced Micro Devices | New | 0.28% | +0.28 |
| AVGO Broadcom Inc. | New | 0.26% | +0.26 |
| XEL Xcel Energy Inc. | Add +491.3% | 0.29% | +0.24 |
| GILD Gilead Sciences Inc. | Add +14975.0% | 0.20% | +0.20 |
| AZN Astrazeneca PLC-Spons ADR | New | 0.17% | +0.17 |
| ADI Analog Devices Inc. | New | 0.17% | +0.17 |
| FE Firstenergy Corp. | New | 0.16% | +0.16 |
| EXC Exelon Corp. | Add +13092.2% | 0.16% | +0.16 |
| KEYS Keysight Technologies Inc. | New | 0.15% | +0.15 |
| BKR Baker Hughes Co. | New | 0.15% | +0.15 |
| GM General Motors Co. | New | 0.14% | +0.14 |
| MPC Marathon Petroleum Corp. | New | 0.14% | +0.14 |
| CSX CSX Corp. | Add +382.8% | 0.17% | +0.14 |
| DDOG Datadog Inc. Class A | New | 0.14% | +0.14 |
| GE General Electric | New | 0.13% | +0.13 |
| VOO Vanguard S&P 500 ETF | New | 0.12% | +0.12 |
| FSLR First Solar Inc. | New | 0.12% | +0.12 |
| SRE Sempra | New | 0.12% | +0.12 |
| LDOS Leidos Holdings Inc. | New | 0.12% | +0.12 |
| BG Bunge Global SA | New | 0.12% | +0.12 |
| WELL Welltower Inc. | New | 0.11% | +0.11 |
| GD General Dynamics Corp. | Add +385.0% | 0.14% | +0.11 |
| PWR Quanta Services Inc. | New | 0.11% | +0.11 |
| CAT Caterpillar Inc. | Add +243.2% | 0.14% | +0.11 |
| IUSV iShares Core S&P U.S. Value | New | 0.11% | +0.11 |
| VUG Vanguard Mrngstar GR ETF-Sui | New | 0.11% | +0.11 |
| IVZ Invesco Ltd. | New | 0.10% | +0.10 |
| TER Teradyne Inc. | New | 0.09% | +0.09 |
| INCY Incyte Corp. | New | 0.09% | +0.09 |
| IEMG iShares Core MSCI Emerging | New | 0.09% | +0.09 |
| NEE Nextera Energy Inc. | New | 0.09% | +0.09 |
| LVS Las Vegas Sands Corp. | New | 0.09% | +0.09 |
| VLO Valero Energy Corp. | New | 0.08% | +0.08 |
| EWJ iShares MSCI Japan ETF | Add +275.3% | 0.09% | +0.07 |
| HPE Hewlett Packard Enterprise | New | 0.06% | +0.06 |
| LEA Lear Corp. | New | 0.06% | +0.06 |
| HAS Hasbro Inc. | New | 0.06% | +0.06 |
| EWU iShares MSCI United Kingdom | New | 0.06% | +0.06 |
| MDT Medtronic PLC | New | 0.05% | +0.05 |
| XLV SS Health Care Select Sector | New | 0.05% | +0.05 |
| MCHI iShares MSCI China ETF | New | 0.05% | +0.05 |
| ILMN Illumina Inc. | 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 |