DOSSIER · 13F-HR · Q3 2026

USA FINANCIAL FORMULAS

$514M in tracked AUM across 394 positions as of Q3 2026.

UF
CIK 0001633716 · last filed Sep 30, 2026
Total AUM
$514M
as of Q3 2026
Holdings
394
—
positions
Whale Score
68
68
tracked
Activity
—
no data
changes this Q
AI Analysis · Q3 2026

Comprehensive Analysis of SEC 13F Filing: USA FINANCIAL FORMULAS

Report Period: Q4 2025 (Report Date: 2025-12-31) Total Portfolio Value: $549.63 Million

1. Portfolio Overview

USA FINANCIAL FORMULAS has undergone a substantial transformation in the reported quarter, expanding its total portfolio value by 316.6%, rising from approximately $131.93 million to $549.63 million. This dramatic increase is not solely attributable to asset appreciation; rather, it indicates a signif...

The portfolio currently holds 414 positions, suggesting a high degree of diversification. However, the concentration of capital is heavily skewed toward the top holdings, with the top 6 positions alone accounting for approximately 73% of the total portfolio value. The strategy appears to have shifted from a more heterogeneous approach to a "core-satellite" model, where the vast majority of assets are held in a few massive liquid ETF "cores," with the remaining capital distributed among hundreds of smaller individual stock and "buffer" ETF positions.

2. Key Holdings

The most striking feature of this filing is the dominance of broad-market ETFs in the top tier, all of which were new acquisitions during the quarter.

Analysis generated by 13F Insight from SEC Form 13F filing data · Q3 2026. Methodology

Quarter at a glance — Q3 2026

Position-change comparison pending.

No quarter-over-quarter changes available.

Top 10 holdings

By portfolio weight as of Q3 2026.

#HoldingValueSharesWeight
01
BIL
SPDR Series Trust - SPDR Bloomberg Barclays 1-3 Month T-Bill ETF
$300M3.3M58.4%
02
IVV
iShares Core S&P 500
$47M61K9.1%
03
GSG
BlackRock Institutional Trust Company N.A. - BTC iShares S&P GSCI Comm
$28M782K5.4%
04
LQD
iShares iBoxx USD Inv Grade Corp Bond ETF
$12M114K2.3%
05
IEF
iShares 7-10 Year Treasury Bond ETF
$9M105K1.8%
06
SIXJ
AIM ETF Products Trust - AllianzIM U.S. Large Cap 6 Month Buffer10 Jan/Jul ETF
$5M138K1.0%
07
SIXO
AIM ETF Products Trust - AllianzIM U.S. Large Cap 6 Month Buffer10 Apr/Oct ETF
$5M138K1.0%
08
QQQ
Invesco QQQ Trust ETF
$3M5K0.7%
09
IWM
iShares Russell 2000 ETF
$3M12K0.6%
10
EEM
iShares MSCI Emerging Markets ETF
$3M42K0.5%

Filing history

2026Q3Sep 30
$514M▼ 3.0%
394 positionsView →
2026Q1Mar 31
$531M▼ 3.5%
437 positionsView →
2025Q4Dec 31
$550M▼ 3.2%
414 positionsView →
2025Q3Sep 30
$568M▼ 3.1%
257 positionsLocked
2025Q2Jun 30
$586M▼ 3.3%
240 positionsLocked
2025Q1Mar 31
$606M▼ 4.8%
274 positionsLocked
2024Q4Dec 31
$636M▼ 1.0%
286 positionsLocked
2024Q3Sep 30
$643M▲ 4.3%
256 positionsLocked
2024Q2Jun 30
$617M▼ 0.0%
297 positionsLocked
2024Q1Mar 31
$617M▲ 7.9%
300 positionsLocked
2023Q4Dec 31
$572M▲ 754.4%
333 positionsLocked
2023Q3Sep 30
$67M▲ 2.8%
494 positionsLocked
Showing 12 of 42