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THEORY FINANCIAL LLC — 13F Holdings & Portfolio

CIK 1899158 · latest 13F-HR filed 2026-07-31

Backtest portfolio

THEORY FINANCIAL LLC manages $317.3M in 13F-reported U.S. long-equity assets across 99 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are SCHZ (7.20%), XLC (6.65%), SPYM (3.86%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 10 new positions and exited 5; 60 existing positions rose in reported value and 15 fell.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

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AUM
$317.3M

Long-equity book

Holdings
99

Distinct positions

Period
2026-06-30

Filed 2026-07-31

Q/Q Activity
+10 / −5 / ↑60 / ↓15

vs 2026-03-31

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Portfolio map

Q2 26
SCHZ7.2% · +4%XLC6.7% · +6%SPYM3.9% · +67%MBB3.4% · +2%HYLB3.0% · +5%CTA3.0% · +7%IGIB2.8% · -1%EZM2.6% · +22%FCTE2.6% · -8%SOXX2.5% · -8%GRNY2.5% · -11%PICK2.3% · +25%IUSB2.3% · +79%PTF2.1% · -2%VXUS2.1% · +12%VGT2.0% · +780%SCHP2.0% · +18%VFH1.9% · -2%XSMO1.9% · +2%RZV1.9% · +5%GLD1.9% · +7%QQQM1.9% · +14%DYNF1.9% · -2%VBR1.8% · +7%XLK1.8% · +8%IVW1.8% · -3%PDBC1.8% · +24%XLV1.5% · -32%IVE1.5% · -18%DRAM1.2% · newACWX1.2% · +30%EMB1.2% · newGOVT1.1% · +10%CORO1.0% · -0%VTV1.0% · +3%NLR1.0% · +26%BAI0.9% · -24%SPEM0.8% · +8%VTEB0.8% · +3%XTEN0.8% · -38%MUB0.8% · +1%BLCR0.7% · +5%IALT0.7% · newSPMO0.7% · -27%IVV0.7% · +4%GGOV0.6% · newLMUB0.6% · +3%THRO0.6% · -31%SHLD0.5% · +24%AVEM0.5% · -45%SPY0.4% · 0%IWF0.4% · +310%BTC0.4% · +1%EAGG0.3% · +2%LCTU0.3% · +5%OEF0.3% · +1%SUSC0.3% · -13%IEMG0.3% · +0%ESGU0.3% · +10%QUAL0.3% · -75%

Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.

Sector mix

% of 13F value

Sectors from each company's SIC code; funds and ETFs grouped separately.

Biggest buys and sells

Q1 26 → Q2 26

Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.

13F assets and positions

3 quarters

Total reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.

Top positions over time

reported value

The eight largest current positions, valued at each quarter end.

Concentration

top 10 = 37.5%

Cumulative share of the portfolio held in the largest N positions.

Firm Profile & Key People

As of the firm’s regulatory filing dated Mar 4, 2026.

Assets Under Management
$319.2M
Discretionary
$315.4M
Employees
3
Accounts
676
Address
2580 HARMONY ROAD, SUITE 201
FORT COLLINS, CO 80528
Phone
(970) 305-4649
Website
Name Title / Status Ownership Type
NEDELE, CHARLES, LELAND ControlCHIEF OPERATING OFFICER
since Jan 2026
Less than 5%Individual
STOUT, RYAN, CHARLES ControlMANAGING MEMBER/CCO
since Apr 2019
75% or moreIndividual
Ownership & leadership changes · 1 filing with changes since Aug 23, 2021

From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.

Jan 8, 2026 filing
  • AddedNEDELE, CHARLES, LELAND · CHIEF OPERATING OFFICER · Less than 5% · control person
Aug 23, 2021 filing (earliest on record)
  • ListedSTOUT, RYAN, CHARLES · MANAGING MEMBER/CCO · 75% or more · control person

Quarter-over-quarter changes

Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.

Top Adds (vs prior quarter)

Show all 60 →

Top Trims

Show all 15 →

New Positions

Show all 10 →

Exited Positions

Show all 5 →

THEORY FINANCIAL LLC Holdings (2026-06-30)

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 SCHWAB STRATEGIC TR SCHZ 808524839 $22.9M 7.20% 988,119 SH
2 SELECT SECTOR SPDR TR XLC 81369Y852 $21.1M 6.65% 197,004 SH
3 SPDR SERIES TRUST SPYM 78464A854 $12.2M 3.86% 139,379 SH
4 ISHARES TR MBB 464288588 $10.8M 3.41% 114,412 SH
5 DBX ETF TR HYLB 233051432 $9.4M 2.96% 257,512 SH
6 SIMPLIFY EXCHANGE TRADED FUN CTA 82889N699 $9.4M 2.95% 361,176 SH
7 ISHARES TR IGIB 464288638 $8.8M 2.79% 166,224 SH
8 WISDOMTREE TR EZM 97717W570 $8.3M 2.61% 109,393 SH
9 ETF OPPORTUNITIES TRUST FCTE 26923N512 $8.2M 2.59% 281,444 SH
10 ISHARES TR SOXX 464287523 $7.9M 2.48% 12,271 SH
11 TIDAL TRUST I GRNY 886364231 $7.8M 2.47% 283,636 SH
12 ISHARES INC PICK 46434G848 $7.4M 2.34% 127,586 SH
13 ISHARES TR IUSB 46434V613 $7.4M 2.32% 159,643 SH
14 INVESCO EXCHANGE TRADED FD T PTF 46137V811 $6.7M 2.12% 49,392 SH
15 VANGUARD STAR FDS VXUS 921909768 $6.7M 2.11% 78,191 SH
16 VANGUARD WORLD FD VGT 92204A702 $6.4M 2.01% 53,392 SH
17 SCHWAB STRATEGIC TR SCHP 808524870 $6.2M 1.97% 235,393 SH
18 VANGUARD WORLD FD VFH 92204A405 $6.2M 1.94% 46,809 SH
19 INVESCO EXCHANGE TRADED FD T XSMO 46137V498 $6.0M 1.88% 63,567 SH
20 INVESCO EXCHANGE TRADED FD T RZV 46137V167 $5.9M 1.87% 39,779 SH
21 SPDR GOLD TR GLD 78463V107 $5.9M 1.86% 16,041 SH
22 INVESCO EXCH TRADED FD TR II QQQM 46138G649 $5.9M 1.86% 19,452 SH
23 BLACKROCK ETF TRUST DYNF 09290C103 $5.9M 1.85% 86,369 SH
24 VANGUARD INDEX FDS VBR 922908611 $5.8M 1.83% 23,942 SH
25 SELECT SECTOR SPDR TR XLK 81369Y803 $5.8M 1.81% 30,217 SH
26 ISHARES TR IVW 464287309 $5.7M 1.79% 41,296 SH
27 INVESCO ACTVELY MNGD ETC FD PDBC 46090F100 $5.6M 1.76% 352,441 SH
28 SELECT SECTOR SPDR TR XLV 81369Y209 $4.9M 1.53% 30,610 SH
29 ISHARES TR IVE 464287408 $4.8M 1.51% 21,138 SH
30 ROUNDHILL ETF TRUST DRAM 77926X320 $3.8M 1.19% 51,118 SH
31 ISHARES TR ACWX 464288240 $3.7M 1.16% 48,483 SH
32 ISHARES TR EMB 464288281 $3.7M 1.15% 37,995 SH
33 ISHARES TR GOVT 46429B267 $3.6M 1.14% 159,136 SH
34 BLACKROCK ETF TRUST CORO 09290C764 $3.3M 1.04% 90,283 SH
35 VANGUARD INDEX FDS VTV 922908744 $3.2M 1.00% 14,542 SH
36 VANECK ETF TRUST NLR 92189F601 $3.1M 0.98% 26,873 SH
37 BLACKROCK ETF TRUST BAI 09290C780 $2.7M 0.86% 51,700 SH
38 SPDR INDEX SHS FDS SPEM 78463X509 $2.6M 0.83% 50,696 SH
39 VANGUARD MUN BD FDS VTEB 922907746 $2.6M 0.82% 51,756 SH
40 BONDBLOXX ETF TRUST XTEN 09789C812 $2.5M 0.80% 55,634 SH
41 ISHARES TR MUB 464288414 $2.5M 0.78% 23,102 SH
42 BLACKROCK ETF TRUST BLCR 09290C855 $2.3M 0.73% 46,213 SH
43 BLACKROCK ETF TRUST IALT 09290C665 $2.3M 0.71% 80,322 SH
44 INVESCO EXCH TRADED FD TR II SPMO 46138E339 $2.2M 0.68% 13,395 SH
45 ISHARES TR IVV 464287200 $2.1M 0.68% 2,869 SH
46 BLACKROCK ETF TRUST II GGOV 092528835 $2.0M 0.63% 39,852 SH
47 ISHARES TR LMUB 46438G448 $2.0M 0.63% 38,963 SH
48 BLACKROCK ETF TRUST THRO 09290C806 $1.9M 0.59% 43,363 SH
49 GLOBAL X FDS SHLD 37960A529 $1.5M 0.46% 24,468 SH
50 AMERICAN CENTY ETF TR AVEM 025072604 $1.4M 0.45% 14,911 SH
Filing History
Period Filed AUM Holdings Accession
2026-06-30 2026-07-31 $317.3M 99 0001899158-26-000003
2026-03-31 2026-05-05 $284.9M 94 0001899158-26-000002
2025-12-31 2026-02-10 $296.9M 101 0001899158-26-000001
Filer Information
Address
2580 HARMONY ROAD
SUITE 201
FORT COLLINS, CO 80528
Phone
(970) 305-4649
Filing Manager
THEORY FINANCIAL LLC
FORT COLLINS, CO
Signatory
Ryan Charles Stout
Managing Member and Chief Compliance Officer