USA FINANCIAL FORMULAS

Filed: 1/14/2025ACC: 0001633716-25-000002

📋 What this filing means

USA FINANCIAL FORMULAS filed this quarterly 13F‑HR report disclosing 286 equity positions with a total reported market value of $636.43M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

286

Positions

$636.43M

Total AUM (reported)

4.51M

Total Shares

Allocation by class

COM$94.92M14.9%

S&P 500 GRWT ETF$83.99M13.2%

TR UNIT$80.90M12.7%

UT SER 1$80.61M12.7%

S&P 500 VAL ETF$77.19M12.1%

ETF$74.62M11.7%

IBOXX INV CP ETF$42.48M6.7%

Portfolio Concentration

Top 3$245.50M38.6%

4–10$266.63M41.9%

11–25$23.50M3.7%

Rest$100.81M15.8%

Top 3 weight

38.6%

Top 10 weight

80.5%

Voting Authority Distribution

Total shares with voting rights: 4.51M

Sole

Full voting authority

0.00

% of voting shares0.0%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

4.51M

% of voting shares100.0%

Investment Discretion (by position count)

Sole286

Shared0

Other0

Dominant voting typeNone · 100.0% of voting shares

Institutional Holdings286

Rows:

iShares S&P 500 Growth ETF

SOLE

S&P 500 GRWT ETF

Shares827.20K

TypeSH

Market value$83.99M

13.20%

Sole

0.00

Shared

0.00

None

827.20K

SPDR S&P 500

SOLE

TR UNIT

Shares138.04K

TypeSH

Market value$80.90M

12.71%

Sole

0.00

Shared

0.00

None

138.04K

SPDR Dow Jones Industrial Average ETF

SOLE

UT SER 1

Shares189.44K

TypeSH

Market value$80.61M

12.67%

Sole

0.00

Shared

0.00

None

189.44K

iShares S&P 500 Value ETF

SOLE

S&P 500 VAL ETF

Shares404.40K

TypeSH

Market value$77.19M

12.13%

Sole

0.00

Shared

0.00

None

404.40K

BlackRock Institutional Trust Company N.A. - BTC iShares U.S. Real Est

SOLE

ETF

Shares801.81K

TypeSH

Market value$74.62M

11.72%

Sole

0.00

Shared

0.00

None

801.81K

iShares iBoxx USD Inv Grade Corp Bond ETF

SOLE

IBOXX INV CP ETF

Shares397.60K

TypeSH

Market value$42.48M

6.67%

Sole

0.00

Shared

0.00

None

397.60K

iShares Core S&P 500

SOLE

CORE S&P500 ETF

Shares62.30K

TypeSH

Market value$36.68M

5.76%

Sole

0.00

Shared

0.00

None

62.30K

SPDR Series Trust - SPDR Bloomberg Barclays 1-3 Month T-Bill ETF

SOLE

BLOOMBERG 1-3 MO

Shares252.50K

TypeSH

Market value$23.09M

3.63%

Sole

0.00

Shared

0.00

None

252.50K

iShares iBoxx USD High Yield Corp Bond ETF

SOLE

IBOXX HI YD ETF

Shares124.27K

TypeSH

Market value$9.77M

1.54%

Sole

0.00

Shared

0.00

None

124.27K

T-Mobile US Inc

SOLE

COM

Shares12.69K

TypeSH

Market value$2.80M

0.44%

Sole

0.00

Shared

0.00

None

12.69K

Cintas Corporation

SOLE

COM

Shares13.14K

TypeSH

Market value$2.40M

0.38%

Sole

0.00

Shared

0.00

None

13.14K

Xcel Energy, Inc.

SOLE

COM

Shares35.06K

TypeSH

Market value$2.37M

0.37%

Sole

0.00

Shared

0.00

None

35.06K

Bank Of New York Mellon Corp

SOLE

COM

Shares23.42K

TypeSH

Market value$1.80M

0.28%

Sole

0.00

Shared

0.00

None

23.42K

Apple Inc

SOLE

COM

Shares6.47K

TypeSH

Market value$1.62M

0.25%

Sole

0.00

Shared

0.00

None

6.47K

PayPal Holdings Inc

SOLE

COM

Shares18.49K

TypeSH

Market value$1.58M

0.25%

Sole

0.00

Shared

0.00

None

18.49K

Gilead Sciences, Inc.

SOLE

COM

Shares16.66K

TypeSH

Market value$1.54M

0.24%

Sole

0.00

Shared

0.00

None

16.66K

Illumina Inc

SOLE

COM

Shares10.83K

TypeSH

Market value$1.45M

0.23%

Sole

0.00

Shared

0.00

None

10.83K

Fortinet Inc

SOLE

COM

Shares14.93K

TypeSH

Market value$1.41M

0.22%

Sole

0.00

Shared

0.00

None

14.93K

Cisco Systems, Inc.

SOLE

COM

Shares23.57K

TypeSH

Market value$1.40M

0.22%

Sole

0.00

Shared

0.00

None

23.57K

Amazon.com Inc.

SOLE

COM

Shares6.21K

TypeSH

Market value$1.36M

0.21%

Sole

0.00

Shared

0.00

None

6.21K

Fox Corporation - Ordinary Shares - Class A

SOLE

CL A COM

Shares27.66K

TypeSH

Market value$1.34M

0.21%

Sole

0.00

Shared

0.00

None

27.66K

Kinder Morgan Inc - Ordinary Shares - Class P

SOLE

COM

Shares48.27K

TypeSH

Market value$1.32M

0.21%

Sole

0.00

Shared

0.00

None

48.27K

Fifth Third Bancorp

SOLE

COM

Shares31.26K

TypeSH

Market value$1.32M

0.21%

Sole

0.00

Shared

0.00

None

31.26K

Boston Scientific Corp.

SOLE

COM

Shares14.54K

TypeSH

Market value$1.30M

0.20%

Sole

0.00

Shared

0.00

None

14.54K

Autodesk Inc.

SOLE

COM

Shares4.38K

TypeSH

Market value$1.29M

0.20%

Sole

0.00

Shared

0.00

None

4.38K

Issuer	Class	Shares	Type	Value / Portfolio %	None
iShares S&P 500 Growth ETFSOLE	S&P 500 GRWT ETF	827.20K	SH	$83.99M 13.20%	827.20K
SPDR S&P 500SOLE	TR UNIT	138.04K	SH	$80.90M 12.71%	138.04K
SPDR Dow Jones Industrial Average ETFSOLE	UT SER 1	189.44K	SH	$80.61M 12.67%	189.44K
iShares S&P 500 Value ETFSOLE	S&P 500 VAL ETF	404.40K	SH	$77.19M 12.13%	404.40K
BlackRock Institutional Trust Company N.A. - BTC iShares U.S. Real EstSOLE	ETF	801.81K	SH	$74.62M 11.72%	801.81K
iShares iBoxx USD Inv Grade Corp Bond ETFSOLE	IBOXX INV CP ETF	397.60K	SH	$42.48M 6.67%	397.60K
iShares Core S&P 500SOLE	CORE S&P500 ETF	62.30K	SH	$36.68M 5.76%	62.30K
SPDR Series Trust - SPDR Bloomberg Barclays 1-3 Month T-Bill ETFSOLE	BLOOMBERG 1-3 MO	252.50K	SH	$23.09M 3.63%	252.50K
iShares iBoxx USD High Yield Corp Bond ETFSOLE	IBOXX HI YD ETF	124.27K	SH	$9.77M 1.54%	124.27K
T-Mobile US IncSOLE	COM	12.69K	SH	$2.80M 0.44%	12.69K
Cintas CorporationSOLE	COM	13.14K	SH	$2.40M 0.38%	13.14K
Xcel Energy, Inc.SOLE	COM	35.06K	SH	$2.37M 0.37%	35.06K
Bank Of New York Mellon CorpSOLE	COM	23.42K	SH	$1.80M 0.28%	23.42K
Apple IncSOLE	COM	6.47K	SH	$1.62M 0.25%	6.47K
PayPal Holdings IncSOLE	COM	18.49K	SH	$1.58M 0.25%	18.49K
Gilead Sciences, Inc.SOLE	COM	16.66K	SH	$1.54M 0.24%	16.66K
Illumina IncSOLE	COM	10.83K	SH	$1.45M 0.23%	10.83K
Fortinet IncSOLE	COM	14.93K	SH	$1.41M 0.22%	14.93K
Cisco Systems, Inc.SOLE	COM	23.57K	SH	$1.40M 0.22%	23.57K
Amazon.com Inc.SOLE	COM	6.21K	SH	$1.36M 0.21%	6.21K
Fox Corporation - Ordinary Shares - Class ASOLE	CL A COM	27.66K	SH	$1.34M 0.21%	27.66K
Kinder Morgan Inc - Ordinary Shares - Class PSOLE	COM	48.27K	SH	$1.32M 0.21%	48.27K
Fifth Third BancorpSOLE	COM	31.26K	SH	$1.32M 0.21%	31.26K
Boston Scientific Corp.SOLE	COM	14.54K	SH	$1.30M 0.20%	14.54K
Autodesk Inc.SOLE	COM	4.38K	SH	$1.29M 0.20%	4.38K

Page 1 of 12

…