SEC Filing Analysis: USA FINANCIAL FORMULAS (13F-HR)

Executive Summary

• Trading Significance: Medium
• Key Takeaway: USA FINANCIAL FORMULAS filed its quarterly Form 13F-HR, reporting $567.6 million in assets under management across 257 positions for the period ending September 30, 2025. The portfolio shows a significant allocation to large, diversified ETFs.
• Market Impact: This filing provides transparency into the holdings of a mid-sized institutional manager. While not large enough to move the entire market, tracking its positions can offer insights into sector sentiment and the strategies employed by similar asset managers. The heavy weighting in major index ETFs suggests a strategy that is partially passive and aims to track broad market performance.

Filer Information

Field	Value
Filer Name	USA FINANCIAL FORMULAS
CIK	0001633716
Type	Institutional Investment Manager

Filing Details

Field	Value
Form Type	13F-HR (Holdings Report)
Filing Date	2025-10-10
Period of Report	2025-09-30
Total Portfolio Value	$567,580,492
Total Holdings	257

Portfolio Highlights

The portfolio is heavily weighted towards broad-market and sector-specific ETFs, indicating a strategy focused on diversification and capturing market beta. The top five holdings account for a substantial portion of the total AUM.

Holding	Value (USD)	Type
iShares Core S&P 500 ETF (IVV)	$79,464,650	ETF
iShares MSCI Emerging Markets ETF (EEM)	$67,641,139	ETF
iShares S&P 500 Growth ETF (IVW)	$66,089,613	ETF
SPDR S&P 500 ETF Trust (SPY)	$64,726,049	ETF
Invesco QQQ Trust (QQQ)	$65,270,425	ETF

Market Impact Analysis

Stock Impact Prediction

• Direction: Neutral
• Reasoning: As a holdings report, a 13F filing reflects positions already held at the end of the quarter. It does not represent new, real-time trading activity. The market has likely already priced in the trades that led to these positions. The primary value is for historical analysis and trend-spotting.

Volume & Sentiment

• Expected Volume Impact: Low. This is a backward-looking report, so it is unlikely to trigger significant trading volume in the underlying securities.
• Sentiment Indicator: Bullish on broad markets. The substantial investment in major US and international index funds indicates a positive long-term outlook on global equity markets, rather than concentrated bets on individual companies.

Investment Insights

Positive Market Indicators

• Diversification: The portfolio is well-diversified across 257 holdings, reducing single-stock risk.
• Institutional Confidence: A reported AUM of over half a billion dollars reflects a stable institutional management strategy.
• Core ETF Strategy: The reliance on low-cost, broad-market ETFs is a common and proven strategy for long-term growth.

Risk Factors

• Lagging Data: The information is 40 days old (from Sept 30 to Oct 10), and the firm's positions may have changed significantly since the reporting date.
• Lack of Context: The filing does not disclose short positions, cash holdings, or other asset classes, providing an incomplete picture of the firm's overall strategy and risk exposure.

Key Takeaways

1. ETF-Centric Strategy: USA FINANCIAL FORMULAS heavily utilizes ETFs for its core investment strategy, particularly those tracking the S&P 500, Nasdaq 100, and emerging markets.
2. Moderate AUM: With $567.6M in reported assets, the firm is a mid-sized player in the institutional space.
3. Broad Market Exposure: The portfolio composition suggests a strategy aimed at capturing broad market returns rather than high-conviction, concentrated stock-picking.

Contextual Analysis

Filing Significance

Form 13F is a mandatory quarterly report for institutional investment managers with at least $100 million in assets under management. It discloses their long equity positions, providing transparency to the public and regulators. This filing from USA FINANCIAL FORMULAS fulfills that requirement for the third quarter of 2025.

Company Context

USA FINANCIAL FORMULAS is a financial services firm based in Ada, Michigan. Its 13F filings provide a periodic look into its investment management arm's equity portfolio.

Risk Assessment

Risk Level for Replication: Medium

Risk Factors

• Information Asymmetry: Retail investors acting on this data are trading on outdated information compared to the institution itself.
• Incomplete Picture: 13F filings do not show the full investment picture, omitting short positions, derivatives, and other non-equity assets.
• No Rationale Provided: The filing lists holdings but does not explain the investment thesis behind them.

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IMPORTANT DISCLAIMER: This analysis is for informational purposes only and is not intended as investment advice. The information presented is based on publicly available SEC filings and should not be construed as a recommendation to buy, sell, or hold any securities. Past performance does not guarantee future results. All investments carry risk, including the potential loss of principal. Please consult with a qualified financial advisor before making any investment decisions.

Analysis generated on 2025-10-10 | Data source: SEC EDGAR