THEORY FINANCIAL LLC

RIA/Wealth

THEORY FINANCIAL LLC is a RIA/Wealth based in Fort Collins, CO led by Ryan Charles Stout, managing $273.2M across 87 long positions as of Q3 2025 with 93% ETF concentration.

Managing PartnerRyan Charles Stout

Portfolio Value: $273.2M
Positions: 87
Top Holding: SCHZ at 10.48%
Last Reported: Q3 2025

Address2580 Harmony Road, Suite 201, Fort Collins, CO, 80528, United States

Top Holdings

Largest long holdings in THEORY FINANCIAL LLC's portfolio (48.4% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 SCHZ Schwab US Aggregate Bond SCHZ	ETF ETF	$28.6M	10.48%	+$1.3M Bought	— 1.2M shares	Q4 2022 Held for 2y 11m
2 Communication Services Select Sector SPDR Fund XLC	ETF ETF	$25.6M	9.37%	-$3.2M Sold	— 220.2K shares	Q1 2024 Held for 1y 8m
3 Vanguard Financials VFH	ETF ETF	$18.9M	6.91%	-$11.8M Sold	— 147.1K shares	Q4 2022 Held for 2y 11m
4 iShares MBS MBB	ETF ETF	$11.4M	4.17%	+$645.8K Bought	— 118.8K shares	Q2 2023 Held for 2y 5m
5 iShares 5-10 Year Investment Grade Corporate Bond ETF IGIB	ETF ETF	$9.8M	3.57%	+$700.4K Bought	— 179.2K shares	Q4 2022 Held for 2y 11m
6 iShares MSCI USA Quality Factor QUAL	ETF ETF	$8.8M	3.21%	-$81.6K Sold	— 44.9K shares	Q1 2023 Held for 2y 8m
7 Xtrackers USD High Yield Corporate Bond HYLB	ETF ETF	$8.2M	3.00%	+$501.9K Bought	— 222.1K shares	Q1 2025 Held for 8 months
8 Schwab U.S. TIPS SCHP	ETF ETF	$8.1M	2.96%	+$215.0K Bought	— 299.0K shares	Q4 2022 Held for 2y 11m
9 Vanguard Total International Stock VXUS	ETF ETF	$6.7M	2.46%	+$975.8K Bought	— 89.5K shares	Q1 2023 Held for 2y 8m
10 BlackRock U.S. Equity Factor Rotation DYNF	ETF ETF	$6.2M	2.26%	+$861.0K Bought	— 104.0K shares	Q1 2024 Held for 1y 8m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in THEORY FINANCIAL LLC's latest filing

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Market Value

$273.2M

Prior: $258.4M

Q/Q Change

+5.75%

+$14.9M

Net Flows % of MV

-0.479%

Turnover Ratio

10.32%

New Purchases

5 stocks

$5.1M

Added To

36 stocks

+$20.8M

Sold Out Of

3 stocks

$1.2M

Reduced Holdings

28 stocks

-$26.0M

Increased Positions

Position	Shares Δ	Change
1 VanEck Uranium and Nuclear NLR	New	0 → 19.5K +$2.9M
2 Avantis Emerging Markets Equity AVEM	New	0 → 11.7K +$897.5K
3 Global X Defense Tech SHLD	New	0 → 11.2K +$749.9K
4 Exact Sciences EXAS	New	0 → 5.0K +$314.1K
5 Alphabet Inc. GOOG	New	0 → 807.0 +$207.4K

Decreased Positions

Position	Shares Δ	Change
1 Industrial Select Sector SPDR Fund XLI	Sold	4.8K → 0 −$729.6K
2 iShares ESG Advanced MSCI EAFE DMXF	Sold	3.7K → 0 −$263.5K
3 BlackRock World ex U.S. Carbon Transition Readiness LCTD	Sold	4.1K → 0 −$202.2K
4 iShares MSCI EAFE Growth EFG	-85.56%	19.7K → 2.9K −$2.0M
5 iShares U.S. Technology IYW	-83.28%	10.6K → 1.8K −$1.8M