THEORY FINANCIAL LLC
CIK 1899158 · View on SEC EDGAR ↗
- Portfolio value
- $317.3M
- Positions
- 99
- As of
- June 30, 2026
#5,031 of 9,443 by 13F value · top 53.3%
Portfolio value QoQ: +11.4% 13F does not disclose cash
- Top 10 holdings weight
- 37.50%
- Top 25 holdings weight
- 67.74%
- Positions above 1%
- 35
- Effective number of positions
- 38.9
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q2 2026: 9.83% Est. buys $43,137,876 · sells $29,597,215
Median holding: 6.0 quarters Tracked Q4 2024–Q2 2026 · 78.0% still held
- New positions
- 10
- Increased
- 46
- Decreased
- 31
- Closed
- 5
On this page
- Sector breakdown How the portfolio splits across market sectors.
- Portfolio Every stock this institution reports holding, from its latest 13F.
- High-conviction bets The holdings this manager is most concentrated in.
- Biggest new bets Brand-new positions opened in the latest quarter.
- Top moves The biggest position increases and decreases this quarter.
- Exited positions Positions the manager fully sold out of last quarter.
Sector breakdown
Healthcare
0.5%
Technology
0.4%
Communication Services
0.2%
Retail
0.2%
Financials
0.1%
Energy
0.1%
Other/Unmapped
98.5%
Full portfolio 99 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| SCHZ | $22,855,187 | 7.20% | 988,119 | $881,431 | Up ×1 | ||
| XLC XLC | $21,105,039 | 6.65% | 197,004 | $504,701 | Up ×1 | ||
| SPYM | $12,248,649 | 3.86% | 139,379 | $5,861,314 | Up ×4 | ||
| MBB iShares MBS ETF | $10,814,187 | 3.41% | 114,412 | $184,639 | Up ×2 | ||
| HYLB | $9,404,338 | 2.96% | 257,512 | $499,251 | Up ×5 | ||
| CTA | $9,368,905 | 2.95% | 361,176 | $-851,499 | Up ×2 | ||
| IGIB iShares 5-10 Year Investment Grade Corporate Bond ETF | $8,838,130 | 2.79% | 166,224 | $-120,446 | Down ×3 | ||
| EZM | $8,290,195 | 2.61% | 109,393 | $2,269,770 | Up ×2 | ||
| FCTE SMI 3Fourteen Full-Cycle Trend ETF | $8,220,501 | 2.59% | 281,444 | $705,992 | Down ×1 | ||
| SOXX SOXX | $7,862,766 | 2.48% | 12,271 | $3,484,029 | Down ×2 | ||
| GRNY | $7,842,535 | 2.47% | 283,636 | $215,044 | Down ×2 | ||
| PICK | $7,419,126 | 2.34% | 127,586 | $1,641,627 | Up ×2 | ||
| IUSB iShares Core Universal USD Bond ETF | $7,367,546 | 2.32% | 159,643 | $3,243,099 | Up ×3 | ||
| PTF Invesco Dorsey Wright Technology Momentum ETF | $6,732,624 | 2.12% | 49,392 | $2,363,369 | Down ×2 | ||
| VXUS Vanguard Total International Stock ETF | $6,684,549 | 2.11% | 78,191 | $1,292,478 | Up ×1 | ||
| VGT | $6,381,412 | 2.01% | 53,392 | $2,145,554 | Up ×1 | ||
| SCHP | $6,237,915 | 1.97% | 235,393 | $940,849 | Up ×1 | ||
| VFH | $6,160,064 | 1.94% | 46,809 | $369,882 | Down ×4 | ||
| XSMO | $5,951,778 | 1.88% | 63,567 | $1,239,070 | Up ×2 | ||
| RZV | $5,929,461 | 1.87% | 39,779 | $1,229,369 | Up ×2 | ||
| GLD | $5,909,184 | 1.86% | 16,041 | $-549,469 | Up ×4 | ||
| QQQM Invesco NASDAQ 100 ETF | $5,893,372 | 1.86% | 19,452 | $1,828,882 | Up ×1 | ||
| DYNF | $5,873,963 | 1.85% | 86,369 | $745,967 | Down ×2 | ||
| VBR | $5,817,667 | 1.83% | 23,942 | $945,184 | Up ×2 | ||
| XLK XLK | $5,756,943 | 1.81% | 30,217 | $2,020,991 | Up ×1 | ||
| IVW | $5,679,443 | 1.79% | 41,296 | $859,767 | Down ×1 | ||
| PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | $5,596,763 | 1.76% | 352,441 | $658,935 | Up ×2 | ||
| XLV XLV | $4,856,583 | 1.53% | 30,610 | $-1,705,974 | Down ×1 | ||
| IVE | $4,799,532 | 1.51% | 21,138 | $-628,182 | Down ×2 | ||
| Unknown issuer (CUSIP: 77926X320) | $3,775,064 | 1.19% | 51,118 | Up ×1 | |||
| ACWX iShares MSCI ACWI ex U.S. ETF | $3,690,041 | 1.16% | 48,483 | $1,139,807 | Up ×1 | ||
| EMB iShares J.P. Morgan USD Emerging Markets Bond ETF | $3,664,238 | 1.15% | 37,995 | ||||
| GOVT | $3,625,118 | 1.14% | 159,136 | $306,582 | Up ×6 | ||
| CORO iShares International Country Rotation Active ETF | $3,304,358 | 1.04% | 90,283 | $392,261 | Down ×1 | ||
| VTV | $3,169,138 | 1.00% | 14,542 | $401,148 | Up ×2 | ||
| NLR | $3,116,731 | 0.98% | 26,873 | $280,983 | Up ×1 | ||
| BAI | $2,725,607 | 0.86% | 51,700 | $467,982 | Down ×1 | ||
| SPEM | $2,625,039 | 0.83% | 50,696 | $425,523 | Up ×2 | ||
| VTEB | $2,617,818 | 0.82% | 51,756 | $101,466 | Up ×1 | ||
| XTEN | $2,535,784 | 0.80% | 55,634 | $-1,547,052 | Down ×1 | ||
| MUB | $2,486,237 | 0.78% | 23,102 | $48,715 | Up ×3 | ||
| BLCR iShares Large Cap Core Active ETF | $2,327,749 | 0.73% | 46,213 | $516,798 | Up ×1 | ||
| IALT iShares Systematic Alternatives Active ETF | $2,253,032 | 0.71% | 80,322 | Up ×1 | |||
| SPMO | $2,163,748 | 0.68% | 13,395 | $117,050 | Down ×2 | ||
| IVV | $2,148,565 | 0.68% | 2,869 | $337,214 | Up ×3 | ||
| GGOV | $2,004,157 | 0.63% | 39,852 | Up ×1 | |||
| LMUB | $1,995,685 | 0.63% | 38,963 | $109,679 | Up ×1 | ||
| THRO | $1,869,372 | 0.59% | 43,363 | $-420,502 | Down ×1 | ||
| SHLD | $1,460,984 | 0.46% | 24,468 | $66,428 | Up ×3 | ||
| AVEM | $1,438,762 | 0.45% | 14,911 | $-739,074 | Down ×1 | ||
| SPY SPY | $1,348,667 | 0.43% | 1,806 | $174,153 | |||
| IWF | $1,306,765 | 0.41% | 10,524 | $212,196 | Up ×1 | ||
| BTC | $1,269,448 | 0.40% | 48,919 | $-184,347 | Up ×1 | ||
| EAGG | $1,104,558 | 0.35% | 23,298 | $18,611 | Up ×3 | ||
| LCTU | $1,099,795 | 0.35% | 13,720 | $182,539 | Up ×1 | ||
| OEF | $987,849 | 0.31% | 2,700 | $141,147 | Up ×1 | ||
| SUSC iShares ESG Aware USD Corporate Bond ETF | $957,797 | 0.30% | 41,371 | $-138,699 | Down ×1 | ||
| IEMG | $903,619 | 0.28% | 10,908 | $143,693 | Up ×1 | ||
| ESGU iShares ESG Aware MSCI USA ETF | $901,003 | 0.28% | 5,505 | $196,307 | Up ×1 | ||
| QUAL | $819,571 | 0.26% | 3,735 | $-2,084,037 | Down ×4 | ||
| GOOGL Alphabet Inc. - Class A Common Stock | $721,887 | 0.23% | 2,020 | $141,016 | |||
| DSI | $686,747 | 0.22% | 4,823 | $60,074 | Down ×2 | ||
| GLDM | $672,687 | 0.21% | 8,470 | $32,755 | Up ×1 | ||
| BINC | $627,243 | 0.20% | 11,984 | $-1,249,099 | Down ×2 | ||
| BRKB | $604,471 | 0.19% | 1,208 | $18,409 | Down ×1 | ||
| AAPL Apple Inc. - Common Stock | $563,673 | 0.18% | 1,948 | $61,676 | Down ×1 | ||
| SCHV | $543,663 | 0.17% | 15,618 | $67,314 | |||
| SUSB iShares ESG Aware 1-5 Year USD Corporate Bond ETF | $537,160 | 0.17% | 21,495 | Up ×1 | |||
| EUSB | $530,959 | 0.17% | 12,220 | $16,180 | Up ×2 | ||
| USXF iShares ESG Advanced MSCI USA ETF | $530,737 | 0.17% | 7,642 | $76,938 | Down ×2 | ||
| AMZN Amazon.com, Inc. - Common Stock | $528,638 | 0.17% | 2,218 | $66,695 | |||
| ALNY Alnylam Pharmaceuticals, Inc. - Common Stock | $517,471 | 0.16% | 1,719 | $-390,436 | Down ×1 | ||
| VUG | $483,504 | 0.15% | 5,613 | $75,542 | Up ×1 | ||
| IEFA | $476,622 | 0.15% | 4,935 | $59,822 | Up ×1 | ||
| EFG | $440,571 | 0.14% | 3,541 | $42,646 | Down ×1 | ||
| SPTS | $436,223 | 0.14% | 15,037 | $-5,125 | Down ×3 | ||
| LLY Eli Lilly and Company Common Stock | $424,598 | 0.13% | 354 | $124,753 | Up ×2 | ||
| EFV | $418,958 | 0.13% | 5,473 | $-1,928,917 | Down ×4 | ||
| SYSB | $401,619 | 0.13% | 4,527 | $28,086 | Up ×2 | ||
| ESGE iShares ESG Aware MSCI EM ETF | $392,674 | 0.12% | 7,180 | $16,592 | Down ×2 | ||
| IWS | $377,428 | 0.12% | 2,293 | $43,246 | |||
| IYW | $331,935 | 0.10% | 1,316 | $91,009 | Down ×2 | ||
| JNJ Johnson & Johnson Common Stock | $331,177 | 0.10% | 1,304 | Up ×1 | |||
| EVUS | $330,315 | 0.10% | 9,408 | $47,937 | Up ×1 | ||
| IVLU | $324,607 | 0.10% | 7,762 | $11,492 | Down ×4 | ||
| JPM JP Morgan Chase & Co. Common Stock | $307,363 | 0.10% | 939 | $31,147 | |||
| AVGO Broadcom Inc. - Common Stock | $305,600 | 0.10% | 809 | $55,206 | |||
| CVX Chevron Corporation Common Stock | $303,009 | 0.10% | 1,828 | $-75,204 | |||
| NVDA NVIDIA Corporation - Common Stock | $286,529 | 0.09% | 1,432 | $43,764 | Up ×2 | ||
| VEA | $280,511 | 0.09% | 3,937 | $28,228 | |||
| DMXF iShares ESG Advanced MSCI EAFE ETF | $279,603 | 0.09% | 3,305 | $53,253 | Up ×1 | ||
| VOE | $277,826 | 0.09% | 1,406 | $18,728 | |||
| QQQ Invesco QQQ Trust, Series 1 | $262,158 | 0.08% | 356 | $56,682 | |||
| STIP | $250,496 | 0.08% | 2,452 | ||||
| ABBV AbbVie Inc. Common Stock | $237,548 | 0.07% | 944 | $32,237 | |||
| MSFT Microsoft Corporation - Common Stock | $217,523 | 0.07% | 583 | $-71,580 | Down ×1 | ||
| IWP | $214,344 | 0.07% | 1,464 | ||||
| FNDX | $207,033 | 0.07% | 6,657 | Up ×1 | |||
| FATE Fate Therapeutics, Inc. - Common Stock | $59,999 | 0.02% | 22,222 | Up ×1 | |||
| No matches | |||||||
Conviction holdings
Positions increased for 3+ consecutive quarters.
Share counts are as reported in 13F filings (not split-adjusted)
| Security | Value | % of portfolio | Streak |
|---|---|---|---|
| SPYM | $12,248,649 | 3.86% | up ×4 |
| HYLB | $9,404,338 | 2.96% | up ×5 |
| IUSB | $7,367,546 | 2.32% | up ×3 |
| GLD | $5,909,184 | 1.86% | up ×4 |
| GOVT | $3,625,118 | 1.14% | up ×6 |
| MUB | $2,486,237 | 0.78% | up ×3 |
| IVV | $2,148,565 | 0.68% | up ×3 |
| SHLD | $1,460,984 | 0.46% | up ×3 |
| EAGG | $1,104,558 | 0.35% | up ×3 |
Biggest new bets
New positions opened this quarter, largest first.
| Security | Value | Shares | % of portfolio |
|---|---|---|---|
| Unknown issuer (CUSIP: 77926X320) | $3,775,064 | 51,118 | 1.19% |
| EMB | $3,664,238 | 37,995 | 1.15% |
| IALT | $2,253,032 | 80,322 | 0.71% |
| GGOV | $2,004,157 | 39,852 | 0.63% |
| SUSB | $537,160 | 21,495 | 0.17% |
| JNJ | $331,177 | 1,304 | 0.10% |
| STIP | $250,496 | 2,452 | 0.08% |
| IWP | $214,344 | 1,464 | 0.07% |
| FNDX | $207,033 | 6,657 | 0.07% |
| FATE | $59,999 | 22,222 | 0.02% |
Top movers (QoQ)
| Security | Action | Shares Δ | Value Δ |
|---|---|---|---|
| SPYM | Bought more | +56K | +$5.9M |
| SOXX | Trimmed | -1K | +$3.5M |
| IUSB | Bought more | +70K | +$3.2M |
| PTF | Trimmed | -1K | +$2.4M |
| EZM | Bought more | +20K | +$2.3M |
| VGT | Bought more | +47K | +$2.1M |
| QUAL | Trimmed | -11K | -$2.1M |
| XLK | Bought more | +2K | +$2.0M |
| QQQM | Bought more | +2K | +$1.8M |
| XLV | Trimmed | -14K | -$1.7M |
1 position hidden (data completeness check)
Exited positions
Includes corporate events (mergers, delistings) — not all exits are sells
Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| XLV | June 30, 2025 | 106,100 | $15,491,661 | No longer tracked |
| XLY | March 31, 2025 | 52,118 | $11,692,673 | No longer tracked |
| XLP | June 30, 2026 | 87,992 | $7,213,584 | No longer tracked |
| XLU | March 31, 2025 | 60,927 | $4,611,565 | No longer tracked |
| XLG | March 31, 2026 | 73,847 | $4,357,689 | No longer tracked |
| AIRR | March 31, 2025 | 43,338 | $3,338,760 | |
| CTA | June 30, 2025 | 81,434 | $2,410,446 | No longer tracked |
| IAGG | June 30, 2026 | 41,440 | $2,073,648 | No longer tracked |
| EMXC | June 30, 2025 | 26,035 | $1,434,268 | |
| TLT | March 31, 2025 | 13,743 | $1,200,176 | |
| EPI | June 30, 2026 | 26,624 | $1,086,259 | No longer tracked |
| XLE | March 31, 2025 | 10,908 | $934,379 | No longer tracked |
| EMB | March 31, 2026 | 9,185 | $889,286 | |
| TLH | March 31, 2026 | 7,453 | $763,560 | No longer tracked |
| XLI | Sept. 30, 2025 | 4,800 | $729,648 | No longer tracked |
| HIMU | March 31, 2026 | 14,043 | $688,669 | No longer tracked |
| VGIT | June 30, 2026 | 10,512 | $625,990 | |
| STIP | Dec. 31, 2025 | 6,017 | $622,459 | No longer tracked |
| HEFA | June 30, 2025 | 14,932 | $541,882 | No longer tracked |
| XOM | June 30, 2026 | 3,183 | $540,028 | 22.5% |
| IFRA | March 31, 2025 | 8,847 | $409,528 | No longer tracked |
| IAU | March 31, 2026 | 4,234 | $402,992 | No longer tracked |
| GBTC | June 30, 2025 | 6,106 | $397,928 | No longer tracked |
| ILCV | June 30, 2025 | 4,831 | $393,485 | No longer tracked |
| TLT | March 31, 2026 | 4,374 | $386,443 | |
| HIMU | June 30, 2025 | 7,612 | $377,022 | No longer tracked |
| QUS | March 31, 2026 | 1,899 | $337,680 | No longer tracked |
| SUB | March 31, 2025 | 2,653 | $279,838 | No longer tracked |
| DMXF | Sept. 30, 2025 | 3,671 | $263,504 | 13.7% |
| EXAS | March 31, 2026 | 2,498 | $256,070 | No longer tracked |
| LLY | June 30, 2025 | 280 | $231,255 | 62.7% |
| ESGE | March 31, 2025 | 6,692 | $223,446 | |
| META | March 31, 2026 | 320 | $215,155 | -4.4% |
| FGDL | March 31, 2026 | 3,160 | $212,858 | No longer tracked |
| GOOG | March 31, 2026 | 627 | $209,161 | 18.6% |
| ABBV | June 30, 2025 | 983 | $205,958 | 42.9% |
| IWP | March 31, 2026 | 1,464 | $204,418 | No longer tracked |
| LCTD | Sept. 30, 2025 | 4,052 | $202,214 | No longer tracked |
| BITF | June 30, 2025 | 60,268 | $47,503 | No longer tracked |