THEORY FINANCIAL LLC

Registered adviser

CIK

1899158

Location

FORT COLLINS, CO

Portfolio Value

Small $295,954,950

Diversification

Diversified

Filing Date

Global Rank

#5,118 / 8,807 ▲ 558

Top Industry

Asset Management 59.8%

Period ended 4 months ago

Filed Jul 31, 2026 · 3mo

18 quarters · since Dec 2021

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Oct 1, 2026

Form ADV adviser

CRD 304084

Roster of Oct 1, 2026

Regulatory AUM

$319,240,651

Main clients

Individuals and high net worth (100% of AUM)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Apr 2026 to Oct 2026	$319,240,651	Individuals and high net worth (100%)
Mar 2025 to Mar 2026	$282,840,843	Individuals and high net worth (100%)
Mar 2024 to Feb 2025	$212,374,282	Individuals and high net worth (100%)
May 2023 to Feb 2024	$177,140,372	Individuals and high net worth (100%)
Apr 2023	$177,140,372	Individuals and high net worth (100%)
Apr 2022 to Mar 2023	$181,758,228	Individuals and high net worth (100%)

1 earlier changes not shown.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Concentrated

The top 10 positions are 77.0% of the book (60%+)

Turnover

Medium turnover

47.8% over the last four quarters (30% to under 100%)

Horizon

Medium horizon

Value-weighted holding period 11.2 quarters (4 to under 12)

Closest benchmark: every 13F filer's combined book, active share 92.8%; sector active share 86.1% against the combined 13F book's sector weights.

Over time 18 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

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Portfolio Concentration

98 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

25.7%

+9.9 pts

Top 5

59.3%

+9.9 pts

Top 10

77.0%

+9.0 pts

HHI

1,061

Diversified+340

Portfolio Trend

18 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Unclassified	95.4%	$282,488,322	81
Financial Services	3.0%	$8,969,033	4
Healthcare	0.5%	$1,570,791	5
Technology	0.5%	$1,373,270	4
Communication Services	0.2%	$721,887	1
Consumer Cyclical	0.2%	$528,638	1
Energy	0.1%	$303,009	1
Basic Materials	0.0%	$0	1

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
IUSB	iShares Core Universal USD Bond ETF	+70,350	159,643	$7,367,524
PDBC	Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF	+67,347	352,441	$5,596,763
SPYM	State Street(R) SPDR(R) Portfolio S&P 500(R) ETF	+55,928	139,379	$12,248,626
VGT	VANGUARD INFORMATION TECHNOLOGY INDEX FUND	+47,321	53,392	$6,381,411
SCHZ	Schwab U.S. Aggregate Bond ETF	+41,790	988,119	$22,855,192
SCHP	Schwab U.S. TIPS ETF	+36,330	235,393	$6,237,914
PICK	iShares MSCI Global Metals & Mining Producers ETF	+25,492	127,586	$7,419,125
CTA	EIDP, Inc.	+22,976	361,176	$0
EZM	WisdomTree U.S. MidCap Fund	+19,830	109,393	$8,289,801
GOVT	iShares U.S. Treasury Bond ETF	+14,285	159,136	$3,625,118
HYLB	Xtrackers USD High Yield Corporate Bond ETF	+11,243	257,512	$9,404,338
ACWX	iShares MSCI ACWI ex U.S. ETF	+11,237	48,483	$3,690,041
XLC	State Street(R) Communication Services Select Sector SPDR(R) ETF	+11,181	197,004	$21,105,038
VXUS	Vanguard Total International Stock ETF	+8,264	78,191	$6,684,548
IWF	iShares Russell 1000 Growth ETF	+7,957	10,524	$1,306,765
NLR	VanEck Uranium and Nuclear ETF	+5,582	26,873	$3,116,730
SHLD	Global X Defense Tech ETF	+4,782	24,468	$1,460,984
VUG	VANGUARD GROWTH INDEX FUND	+4,679	5,613	$483,503
SPEM	State Street(R) SPDR(R) Portfolio Emerging Markets ETF	+3,808	50,696	$2,625,038
MBB	iShares MBS ETF	+2,463	114,412	$10,814,222
QQQM	Invesco Ltd.	+2,347	19,452	$5,893,372
BLCR		+2,108	46,213	$2,327,748
XLK	State Street(R) Technology Select Sector SPDR(R) ETF	+2,106	30,217	$5,756,942
RZV	Victory Portfolios II	+1,998	39,779	$5,929,457
XSMO	Victory Portfolios II	+1,574	63,567	$5,951,778
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
—		−35,907	283,636	$7,842,535
XTEN	BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF	−33,394	55,634	$2,535,797
EFV	iShares MSCI EAFE Value ETF	−26,106	5,473	$418,958
BINC		−24,148	11,984	$627,242
FCTE	SMI 3Fourteen Full-Cycle Trend ETF	−23,450	281,444	$0
THRO		−19,858	43,363	$1,869,378
BAI	BlackRock ETF Trust	−16,817	51,700	$2,725,624
XLV	State Street(R) Health Care Select Sector SPDR(R) ETF	−14,152	30,610	$4,856,582
AVEM	Avantis Emerging Markets Equity ETF	−12,116	14,911	$1,438,762
QUAL	iShares MSCI USA Quality Factor ETF	−11,403	3,735	$819,571
SUSC	iShares ESG Aware USD Corporate Bond ETF	−6,019	41,371	$957,780
SPMO	Invesco Ltd.	−4,861	13,395	$2,163,828
IVE	iShares S&P 500 Value ETF	−4,567	21,138	$4,799,594
IGIB	iShares 5-10 Year Investment Grade Corporate Bond ETF	−2,107	166,224	$8,838,130
DYNF	iShares U.S. Equity Factor Rotation Active ETF	−1,771	86,369	$5,873,955
IVW	iShares S&P 500 Growth ETF	−1,315	41,296	$5,679,438
PTF	Victory Portfolios II	−1,222	49,392	$6,732,623
VFH	VANGUARD FINANCIALS INDEX FUND	−1,119	46,809	$6,160,064
ESGE	iShares Trust	−1,091	7,180	$392,674
SOXX	iShares Semiconductor ETF	−1,052	12,271	$7,862,765
ALNY	Alnylam Pharmaceuticals, Inc.	−1,025	1,719	$517,470
USXF	iShares ESG Advanced MSCI USA ETF	−579	7,642	$530,736
DSI	iShares ESG MSCI KLD 400 ETF	−348	4,823	$686,746
CORO		−287	90,283	$3,304,357
MSFT	Microsoft Corp	−198	583	$217,470
No positions match the current search.

New Positions

Positions the filer opened this quarter

9 positions

Ticker	Company	Shares	Value
EMB	iShares J.P. Morgan USD Emerging Markets Bond ETF	37,995	$3,664,237
IALT		80,322	$2,253,032
GGOV		39,852	$2,004,157
SUSB	iShares ESG Aware 1-5 Year USD Corporate Bond ETF	21,495	$537,160
JNJ	Johnson & Johnson	1,304	$331,176
STIP	iShares 0-5 Year TIPS Bond ETF	2,452	$250,496
—		1,464	$214,344
FNDX	Schwab Fundamental U.S. Large Company ETF	6,657	$207,032
FATE	Fate Therapeutics Inc	22,222	$59,999
No positions match the current search.

Sold Out

Positions the filer fully exited

5 positions

Ticker	Company	Shares	Value
—		87,992	$7,213,584
EPI	WisdomTree India Earnings Fund	26,624	$1,086,259
VGIT	VANGUARD INTERMEDIATE-TERM TREASURY INDEX FUND	10,512	$625,989
XOM	ExxonMobil Holdings Corp	3,183	$540,027
IAGG	iShares Core International Aggregate Bond ETF	41,440	$0
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

98 tracked positions · $295,954,950 total · filing declares 99 positions · $317,319,765 · as of Jun 30, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Energy Financial Services Healthcare Technology

Showing 1–50 of 98 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
SCHZ	Schwab U.S. Aggregate Bond ETF	Added	988,119	+41,790	$22,855,192	+4.0%	7.72%
XLC	State Street(R) Communication Services Select Sector SPDR(R) ETF	Added	197,004	+11,181	$21,105,038	+2.4%	7.13%
SPYM	State Street(R) SPDR(R) Portfolio S&P 500(R) ETF	Added	139,379	+55,928	$12,248,626	+91.8%	4.14%
MBB	iShares MBS ETF	Added	114,412	+2,463	$10,814,222	—	3.65%
HYLB	Xtrackers USD High Yield Corporate Bond ETF	Added	257,512	+11,243	$9,404,338	+5.6%	3.18%
IGIB	iShares 5-10 Year Investment Grade Corporate Bond ETF	Reduced	166,224	-2,107	$8,838,130	—	2.99%
EZM	WisdomTree U.S. MidCap Fund	Added	109,393	+19,830	$8,289,801	+37.7%	2.80%
SOXX	iShares Semiconductor ETF	Reduced	12,271	-1,052	$7,862,765	—	2.66%
		Reduced	283,636	-35,907	$7,842,535	+2.8%	2.65%
PICK	iShares MSCI Global Metals & Mining Producers ETF	Added	127,586	+25,492	$7,419,125	+28.4%	2.51%
IUSB	iShares Core Universal USD Bond ETF	Added	159,643	+70,350	$7,367,524	—	2.49%
PTF	Victory Portfolios II	Reduced	49,392	-1,222	$6,732,623	+54.1%	2.27%
VXUS	Vanguard Total International Stock ETF	Added	78,191	+8,264	$6,684,548	+24.0%	2.26%
VGT	VANGUARD INFORMATION TECHNOLOGY INDEX FUND	Added	53,392	+47,321	$6,381,411	+1105.2%	2.16%
SCHP	Schwab U.S. TIPS ETF	Added	235,393	+36,330	$6,237,914	+17.8%	2.11%
VFH	VANGUARD FINANCIALS INDEX FUND	Reduced	46,809	-1,119	$6,160,064	+6.4%	2.08%
XSMO	Victory Portfolios II	Added	63,567	+1,574	$5,951,778	+26.3%	2.01%
RZV	Victory Portfolios II	Added	39,779	+1,998	$5,929,457	+26.2%	2.00%
GLD	Spdr Gold Trust	Added	16,041	+1,031	$5,909,183	−8.5%	2.00%
QQQM	Invesco Ltd. Financial Services	Added	19,452	+2,347	$5,893,372	+45.0%	1.99%
DYNF	iShares U.S. Equity Factor Rotation Active ETF	Reduced	86,369	-1,771	$5,873,955	+14.5%	1.98%
VBR	VANGUARD SMALL-CAP VALUE INDEX FUND	Added	23,942	+1,514	$5,817,666	+19.4%	1.97%
XLK	State Street(R) Technology Select Sector SPDR(R) ETF	Added	30,217	+2,106	$5,756,942	+54.1%	1.95%
IVW	iShares S&P 500 Growth ETF	Reduced	41,296	-1,315	$5,679,438	—	1.92%
PDBC	Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF	Added	352,441	+67,347	$5,596,763	+13.3%	1.89%
XLV	State Street(R) Health Care Select Sector SPDR(R) ETF	Reduced	30,610	-14,152	$4,856,582	−26.0%	1.64%
IVE	iShares S&P 500 Value ETF	Reduced	21,138	-4,567	$4,799,594	—	1.62%
ACWX	iShares MSCI ACWI ex U.S. ETF	Added	48,483	+11,237	$3,690,041	—	1.25%
EMB	iShares J.P. Morgan USD Emerging Markets Bond ETF	NEW	37,995	NEW	$3,664,237	NEW	1.24%
GOVT	iShares U.S. Treasury Bond ETF	Added	159,136	+14,285	$3,625,118	—	1.22%
CORO		Reduced	90,283	-287	$3,304,357	+13.5%	1.12%
VTV	VANGUARD VALUE INDEX FUND	Added	14,542	+434	$3,169,138	+14.5%	1.07%
NLR	VanEck Uranium and Nuclear ETF	Added	26,873	+5,582	$3,116,730	+9.9%	1.05%
BAI	BlackRock ETF Trust	Reduced	51,700	-16,817	$2,725,624	+20.7%	0.92%
SPEM	State Street(R) SPDR(R) Portfolio Emerging Markets ETF	Added	50,696	+3,808	$2,625,038	+19.3%	0.89%
VTEB	VANGUARD TAX-EXEMPT BOND INDEX FUND	Added	51,756	+1,318	$2,617,818	+4.0%	0.88%
XTEN	BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF	Reduced	55,634	-33,394	$2,535,797	−37.9%	0.86%
MUB	iShares National Muni Bond ETF	Added	23,102	+139	$2,486,237	—	0.84%
BLCR		Added	46,213	+2,108	$2,327,748	+28.5%	0.79%
IALT		NEW	80,322	NEW	$2,253,032	NEW	0.76%
SPMO	Invesco Ltd. Financial Services	Reduced	13,395	-4,861	$2,163,828	+5.7%	0.73%
IVV	iShares Core S&P 500 ETF	Added	2,869	+96	$2,148,565	—	0.73%
GGOV		NEW	39,852	NEW	$2,004,157	NEW	0.68%
LMUB	iShares Long-Term National Muni Bond ETF	Added	38,963	+1,190	$1,995,684	—	0.67%
THRO		Reduced	43,363	-19,858	$1,869,378	−18.4%	0.63%
SHLD	Global X Defense Tech ETF	Added	24,468	+4,782	$1,460,984	+4.8%	0.49%
AVEM	Avantis Emerging Markets Equity ETF	Reduced	14,911	-12,116	$1,438,762	−33.9%	0.49%
SPY	Spdr S&P 500 ETF Trust	Held	1,806	0	$1,348,666	+14.8%	0.46%
IWF	iShares Russell 1000 Growth ETF	Added	10,524	+7,957	$1,306,765	—	0.44%
BTC	Grayscale Bitcoin Mini Trust ETF	Added	48,919	+443	$1,269,448	−12.7%	0.43%

Showing the top 50 of 98 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.