Q2 2026 13F · SEC CIK 1899158

Theory Financial LLC

Wealth managerFiled 2026-07-31 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $317.3M
Reported positions: 99
Top holdings a year, 3 yrs: +9.6%
Assets under management: $319.2M

Theory Financial LLC is a wealth manager that reported 99 positions worth $317.3M in its Q2 2026 13F, filed 2026-07-31. Its largest holdings were Schwab Strategic Tr (SCHZ, 7.2%), Select Sector Spdr Tr (XLC, 6.7%), Spdr Series Trust (SPLG, 3.9%). A portfolio copying its top holdings returned 9.6% a year over the last 3 years, against 20.4% for the S&P 500.

Theory Financial LLC holdings largest 50 of 99 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Theory Financial LLC 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
SCHZSchwab Strategic Tr	7.2%	7.7%	988,119	+4.4%	$22.9M
XLCSelect Sector Spdr Tr	6.7%	7.2%	197,004	+6.0%	$21.1M
SPLGSpdr Series Trust	3.9%	2.2%	139,379	+67.0%	$12.2M
MBBIshares Tr	3.4%	3.7%	114,412	+2.2%	$10.8M
HYLBDbx ETF Tr	3.0%	3.1%	257,512	+4.6%	$9.4M
CTASimplify Exchange Traded Fun	3.0%	3.6%	361,176	+6.8%	$9.4M
IGIBIshares Tr	2.8%	3.1%	166,224	-1.3%	$8.8M
EZMWisdomtree Tr	2.6%	2.1%	109,393	+22.1%	$8.3M
FCTEETF Opportunities Trust	2.6%	2.6%	281,444	-7.7%	$8.2M
SOXXIshares Tr	2.5%	1.5%	12,271	-7.9%	$7.9M
GRNYTidal Trust I	2.5%	2.7%	283,636	-11.2%	$7.8M
PICKIshares Inc	2.3%	2.0%	127,586	+25.0%	$7.4M
IUSBIshares Tr	2.3%	1.4%	159,643	+78.8%	$7.4M
PTFInvesco Exchange Traded Fd T	2.1%	1.5%	49,392	-2.4%	$6.7M
VXUSVanguard Star Fds	2.1%	1.9%	78,191	+11.8%	$6.7M
VGTVanguard World Fd	2.0%	1.5%	53,392	+779.5%	$6.4M
SCHPSchwab Strategic Tr	2.0%	1.9%	235,393	+18.3%	$6.2M
VFHVanguard World Fd	1.9%	2.0%	46,809	-2.3%	$6.2M
XSMOInvesco Exchange Traded Fd T	1.9%	1.7%	63,567	+2.5%	$6.0M
RZVInvesco Exchange Traded Fd T	1.9%	1.6%	39,779	+5.3%	$5.9M
GLDSpdr Gold Tr	1.9%	2.3%	16,041	+6.9%	$5.9M
QQQMInvesco Exch Traded Fd Tr II	1.9%	1.4%	19,452	+13.7%	$5.9M
DYNFBlackrock ETF Trust	1.9%	1.8%	86,369	-2.0%	$5.9M
VBRVanguard Index Fds	1.8%	1.7%	23,942	+6.8%	$5.8M
XLKSelect Sector Spdr Tr	1.8%	1.3%	30,217	+7.5%	$5.8M
IVWIshares Tr	1.8%	1.7%	41,296	-3.1%	$5.7M
PDBCInvesco Actvely Mngd Etc Fd	1.8%	1.7%	352,441	+23.6%	$5.6M
XLVSelect Sector Spdr Tr	1.5%	2.3%	30,610	-31.6%	$4.9M
IVEIshares Tr	1.5%	1.9%	21,138	-17.8%	$4.8M
DRAMRoundhill ETF Trust	1.2%	—	51,118	—	$3.8M
ACWXIshares Tr	1.2%	0.9%	48,483	+30.2%	$3.7M
EMBIshares Tr	1.2%	—	37,995	—	$3.7M
GOVTIshares Tr	1.1%	1.2%	159,136	+9.9%	$3.6M
COROBlackrock ETF Trust	1.0%	1.0%	90,283	-0.3%	$3.3M
VTVVanguard Index Fds	1.0%	1.0%	14,542	+3.1%	$3.2M
NLRVaneck ETF Trust	1.0%	1.0%	26,873	+26.2%	$3.1M
BAIBlackrock ETF Trust	0.9%	0.8%	51,700	-24.5%	$2.7M
SPEMSpdr Index Shs Fds	0.8%	0.8%	50,696	+8.1%	$2.6M
VTEBVanguard Mun Bd Fds	0.8%	0.9%	51,756	+2.6%	$2.6M
XTENBondbloxx ETF Trust	0.8%	1.4%	55,634	-37.5%	$2.5M
MUBIshares Tr	0.8%	0.9%	23,102	+0.6%	$2.5M
BLCRBlackrock ETF Trust	0.7%	0.6%	46,213	+4.8%	$2.3M
IALTBlackrock ETF Trust	0.7%	—	80,322	—	$2.3M
SPMOInvesco Exch Traded Fd Tr II	0.7%	0.7%	13,395	-26.6%	$2.2M
IVVIshares Tr	0.7%	0.6%	2,869	+3.5%	$2.1M
GGOVBlackrock ETF Trust II	0.6%	—	39,852	—	$2.0M
LMUBIshares Tr	0.6%	0.7%	38,963	+3.2%	$2.0M
BTHMBlackrock ETF Trust	0.6%	0.8%	43,363	-31.4%	$1.9M
SHLDGlobal X Defense Tech ETF	0.5%	—	24,468	—	$1.5M
AVEMAmerican Centy ETF Tr	0.5%	0.8%	14,911	-44.8%	$1.4M

What Theory Financial LLC bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Added to

VGT Vanguard World Fd+779.5% shares
IUSB Ishares Tr+78.8% shares
SPLG Spdr Series Trust+67.0% shares
ACWX Ishares Tr+30.2% shares
NLR Vaneck ETF Trust+26.2% shares
PICK Ishares Inc+25.0% shares
PDBC Invesco Actvely Mngd Etc Fd+23.6% shares
EZM Wisdomtree Tr+22.1% shares

Reduced

AVEM American Centy ETF Tr-44.8% shares
XTEN Bondbloxx ETF Trust-37.5% shares
XLV Select Sector Spdr Tr-31.6% shares
BTHM Blackrock ETF Trust-31.4% shares
SPMO Invesco Exch Traded Fd Tr II-26.6% shares
BAI Blackrock ETF Trust-24.5% shares
IVE Ishares Tr-17.8% shares
GRNY Tidal Trust I-11.2% shares

Left the top 50

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +9.4% /yr; S&P 500 +20.1%
3 years: +9.6% /yr; S&P 500 +20.4%
5 years: +4.3% /yr; S&P 500 +13.0%

A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$317.3M	99
Q1 2026	$284.9M	94
Q4 2025	$296.9M	101
Q3 2025	$283.7M	90
Q2 2025	$263.6M	84
Q1 2025	$237.1M	81
Q4 2024	$239.1M	74
Q3 2024	$226.9M	66
Q2 2024	$211.6M	68
Q1 2024	$196.4M	73
Q4 2023	$187.2M	69
Q3 2023	$170.5M	67

Questions about Theory Financial LLC's portfolio

What stocks does Theory Financial LLC own?

Theory Financial LLC's latest 13F, for Q2 2026 and filed Jul 31, 2026, lists 99 positions worth $317.3M. The largest are Schwab Strategic Tr (SCHZ) at 7.2%, Select Sector Spdr Tr (XLC) at 6.7%, Spdr Series Trust (SPLG) at 3.9%, Ishares Tr (MBB) at 3.4% and Dbx ETF Tr (HYLB) at 3.0%.

What did Theory Financial LLC buy last quarter?

In Q2 2026, Theory Financial LLC added Vanguard World Fd (VGT) (+779.5% shares), Ishares Tr (IUSB) (+78.8% shares) and Spdr Series Trust (SPLG) (+67.0% shares), compared with its Q1 2026 filing.

What did Theory Financial LLC sell last quarter?

In Q2 2026, Theory Financial LLC cut from its top 50 Select Sector Spdr Tr (XLP), cut from its top 50 Ishares Tr (QUAL), cut from its top 50 Ishares Tr (EFV), cut from its top 50 Ishares Tr (IAGG), cut from its top 50 Blackrock ETF Trust II (BINC), American Centy ETF Tr (AVEM) (-44.8% shares), Bondbloxx ETF Trust (XTEN) (-37.5% shares) and Select Sector Spdr Tr (XLV) (-31.6% shares), compared with its Q1 2026 filing.

How has Theory Financial LLC's portfolio performed?

A portfolio copying Theory Financial LLC's 20 largest 13F holdings each quarter, from the day each filing was public, returned +9.6% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +9.4% against +20.1%. Over 5 years: +4.3% a year against +13.0%.

When is Theory Financial LLC's next 13F filing due?

13F filings are due 45 days after each quarter ends. Theory Financial LLC's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.

How much money does Theory Financial LLC manage?

Theory Financial LLC reported $319.2M of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $317.3M.