Managers / Q2 2021

FormulaFolio Investments, LLC

CIK 0001626982 · 89 IONIA AVE NW, SUITE 600, GRAND RAPIDS, MI, 49503 · 616-667-2150 EXT7004

Reported Value

$299M

Q2 2021

Positions

524

Filings on Record

2019–present window

Filed

Jul 28, 2021

original filing

Summary

Formulafolio Investments, LLC reported $299M in U.S.-listed holdings across 524 positions for Q2 2021.

Its largest position, Northern Lights Fund Trust IV Frmlafolios Tatl Etf, represents 10.3% of the portfolio.

Compared with Q1 2021, the fund opened 42 new positions and exited 20.

Portfolio Metrics

Turnover

+1.2%

vs prior filed quarter

Top-10 Concentration

+52.7%

share of reported value

Largest Position

+10.3%

Northern Lights Fund Trust IV Frmlafolios Tatl Etf

New / Exited

42 / 20

positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value

Portfolio Composition

By security type

ETP · 80.9% · $242M
Other · 16.0% · $48M
Common Stock · 2.8% · $8M
DOMESTIC MTN · 0.1% · $420,000
FIXED · 0.1% · $216,000
Other · 0.1% · $367,000

Quarter-over-Quarter Changes full breakdown →

vs Q1 2021 (amended baseline)

Issuer	Move	Share Δ	Shares now	Value Δ	Value now
AMLP ALPS ETF TRUST ALERIAN MLP ETF	NEW	+10.5K	10.5K	+$383,000	$383,000
DFUS DIMENSIONAL ETF TR US EQUITY ETF	NEW	+6.4K	6.4K	+$301,000	$301,000
FSK FS KKR CAPITAL CORP COM	NEW	+7.3K	7.3K	+$157,000	$157,000
CVX CHEVRON CORPORATION COM	NEW	+1.2K	1.2K	+$130,000	$130,000
CBSH COMMERCE BANCSHARES INC COM	NEW	+1.7K	1.7K	+$125,000	$125,000
DFAS DIMENSIONAL ETF TR US SMALL CAP ETF	NEW	+1.8K	1.8K	+$104,000	$104,000
PRU PRUDENTIAL FINANCIAL INC COM	NEW	+71	71	+$7,000	$7,000
EMR EMERSON ELECTRIC CO COM	NEW	+75	75	+$7,000	$7,000

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q2 2021

497 positions

Export to Excel

#	Issuer	Class	% Portfolio	Value ↓	Shares
1	NORTHERN LIGHTS FUND TRUST IV FRMLAFOLIOS TATL ETF	FRMLAFOLIOS TATL ETF	10.30%	$31M	1.27M
2	DBX ETF TRUST XTRACK USD HIGH ETF	XTRACK USD HIGH ETF	9.40%	$28M	698.6K
3	SCHM SCHWAB STRATEGIC TR US MID-CAP ETF history →	US MID-CAP ETF	6.41%	$19M	245.1K
4	SPYM SPDR SERIES TRUST PORTFOLIO S&P 500 ETF history →	PORTFOLIO S&P 500 ETF	5.51%	$17M	328.1K
5	BND VANGUARD TOTAL BND MRKT ETF history →	TOTAL BND MRKT ETF	5.00%	$15M	174.2K
6	SPYG SPDR SERIES TRUST PRTFLO S&P500 GW ETF history →	PRTFLO S&P500 GW ETF	3.79%	$11M	180.1K
7	IJR ISHARES TRUST CORE S&P SCP ETF history →	CORE S&P SCP ETF	3.55%	$11M	94.1K
8	IGIB ISHARES TRUST 5-10 YEAR INVESTMENT GRADE history →	5-10 YEAR INVESTMENT GRADE	3.09%	$9M	153.0K
9	VCSH VANGUARD SHRT TRM CORP BD ETF history →	SHRT TRM CORP BD ETF	2.92%	$9M	105.6K
10	SPDW SPDR INDEX SHARES FUNDS PORTFOLIO DEVLPD ETF history →	PORTFOLIO DEVLPD ETF	2.70%	$8M	219.6K
11	SPDR INDEX SHARES FUNDS PORTFOLIO EMG MK ETF	PORTFOLIO EMG MK ETF	2.29%	$7M	150.8K
12	SPDR SERIES TRUST PORTFOLI S&P 1500 COMP STK ETF	PORTFOLI S&P 1500 COMP STK ETF	2.22%	$7M	125.3K
13	NORTHERN LIGHTS FUND TRUST IV FRMLAFLIO TACT ETF	FRMLAFLIO TACT ETF	2.09%	$6M	207.0K
14	IXUS ISHARES TRUST CORE MSCI TOTAL ETF history →	CORE MSCI TOTAL ETF	2.05%	$6M	83.6K
15	NORTHERN LIGHTS FUND TRUST IV FORMULA FOLIOS ETF	FORMULA FOLIOS ETF	1.96%	$6M	164.9K
16	ABERDEEN STANDARD GOLD ETF TRU PHYSCL GOLD SHS ETF	PHYSCL GOLD SHS ETF	1.64%	$5M	289.6K
17	NORTHERN LIGHTS FUND TRUST IV FRMLAFLIO SMRT ETF	FRMLAFLIO SMRT ETF	1.61%	$5M	134.2K
18	FREL FIDELITY COVINGTON TRUST MSCI RL EST ETF history →	MSCI RL EST ETF	1.51%	$5M	148.6K
19	PFFD GLOBAL X FDS US PFD ETF history →	US PFD ETF	1.37%	$4M	156.3K
20	VBR VANGUARD SM CP VAL ETF history →	SM CP VAL ETF	1.26%	$4M	21.7K
21	SPTS SPDR SERIES TRUST PORTFOLIO SH TSR ETF history →	PORTFOLIO SH TSR ETF	1.25%	$4M	122.2K
22	FMAT FIDELITY COVINGTON TRUST MSCI MATLS INDEX ETF history →	MSCI MATLS INDEX ETF	1.19%	$4M	77.3K
23	FDIS FIDELITY COVINGTON TRUST MSCI CONSM DIS ETF history →	MSCI CONSM DIS ETF	1.16%	$3M	42.9K
24	FTEC FIDELITY COVINGTON TRUST MSCI INFO TECH I ETF history →	MSCI INFO TECH I ETF	1.16%	$3M	29.5K
25	FUTY FIDELITY COVINGTON TRUST MSCI UTILS INDEX ETF history →	MSCI UTILS INDEX ETF	1.13%	$3M	82.7K
26	VOE VANGUARD MCAP VL IDXVIP ETF history →	MCAP VL IDXVIP ETF	1.08%	$3M	23.0K
27	VBK VANGUARD SML CP GRW ETF	SML CP GRW ETF	0.99%	$3M	10.2K
28	MVV PROSHARES TRUST PSHS ULT MCAP400 ETF	PSHS ULT MCAP400 ETF	0.93%	$3M	43.2K
29	UWM PROSHARES TRUST PSHS ULTRUSS2000 ETF	PSHS ULTRUSS2000 ETF	0.92%	$3M	46.2K
30	FSTA FIDELITY COVINGTON TRUST CONSMR STAPLES ETF	CONSMR STAPLES ETF	0.89%	$3M	62.8K
31	SSO PROSHARES TRUST PSHS ULT S&P 500 ETF	PSHS ULT S&P 500 ETF	0.85%	$3M	21.3K
32	VOT VANGUARD MCAP GR IDXVIP ETF	MCAP GR IDXVIP ETF	0.84%	$3M	10.6K
33	QQQ INVESCO QQQ TRUST UNIT SER 1 ETF	UNIT SER 1 ETF	0.79%	$2M	6.6K
34	SPTL SPDR SERIES TRUST PORTFOLIO LN TSR ETF	PORTFOLIO LN TSR ETF	0.71%	$2M	51.2K
35	SPDR SERIES TRUST PRTFLO S&P500 VL ETF	PRTFLO S&P500 VL ETF	0.70%	$2M	53.3K
36	SPDR SERIES TRUST PORTFOLIO AGRGTE ETF	PORTFOLIO AGRGTE ETF	0.68%	$2M	67.8K
37	BWX SPDR SERIES TRUST BLOMBERG INTL TR ETF	BLOMBERG INTL TR ETF	0.64%	$2M	65.7K
38	SPTI SPDR SERIES TRUST PORTFLI INTRMDIT ETF	PORTFLI INTRMDIT ETF	0.63%	$2M	57.9K
39	IVV ISHARES TRUST CORE S&P500 ETF	CORE S&P500 ETF	0.60%	$2M	4.2K
40	SPDR SERIES TRUST PORTFOLIO S&P 600 SM CAP ETF	PORTFOLIO S&P 600 SM CAP ETF	0.57%	$2M	38.6K
41	PFIG INVESCO EXCHANGE TRADED FUND T FNDMNTL IG CRP ETF	FNDMNTL IG CRP ETF	0.54%	$2M	60.2K
42	SPMD SPDR SERIES TRUST PORTFOLIO S&P 400 MID CAP ETF	PORTFOLIO S&P 400 MID CAP ETF	0.53%	$2M	33.6K
43	SCHP SCHWAB STRATEGIC TR US TIPS ETF	US TIPS ETF	0.50%	$2M	24.1K
44	VEA VANGUARD FTSE DEV MKT ETF	FTSE DEV MKT ETF	0.40%	$1M	23.4K
45	RFDI FIRST TRUST EXCHANGE-TRADED FU RIVRFRNT DYN DEV ETF	RIVRFRNT DYN DEV ETF	0.40%	$1M	16.9K
46	IJH ISHARES TRUST CORE S&P MCP ETF	CORE S&P MCP ETF	0.35%	$1M	3.9K
47	SCHD SCHWAB STRATEGIC TR US DIVIDEND EQ ETF	US DIVIDEND EQ ETF	0.33%	$998,000	13.2K
48	VT VANGUARD TT WRLD ST ETF	TT WRLD ST ETF	0.32%	$956,000	9.2K
49	USRT ISHARES TRUST CRE U S REIT ETF	CRE U S REIT ETF	0.32%	$954,000	16.4K
50	VUG VANGUARD GROWTH ETF	GROWTH ETF	0.31%	$927,000	3.2K
51	AAPL APPLE INC COM	COM	0.30%	$898,000	6.6K
52	AGG ISHARES TRUST CORE US AGGBD ET ETF	CORE US AGGBD ET ETF	0.28%	$832,000	7.2K
53	BRK/B BERKSHIRE HATHAWAY INC COM CL B	COM CL B	0.27%	$814,000	2.9K
54	VTV VANGUARD VALUE ETF	VALUE ETF	0.25%	$735,000	5.3K
55	VWO VANGUARD FTSE EMR MKT ETF	FTSE EMR MKT ETF	0.17%	$518,000	9.5K
56	WORLD GOLD TRUST SPDR GLD MINIS ETF	SPDR GLD MINIS ETF	0.15%	$459,000	26.0K
57	MUB ISHARES TRUST NATIONAL MUN ETF	NATIONAL MUN ETF	0.15%	$458,000	3.9K
58	TIPX SPDR SERIES TRUST BLOMBERG 1 10 YR ETF	BLOMBERG 1 10 YR ETF	0.15%	$441,000	20.9K
59	BNDX VANGUARD INTL BD IDX ETF	INTL BD IDX ETF	0.14%	$410,000	7.2K
60	GOVT ISHARES TRUST US TREAS BD ETF	US TREAS BD ETF	0.13%	$397,000	14.9K
61	MSFT MICROSOFT CORP COM	COM	0.13%	$391,000	1.4K
62	WIP SPDR SERIES TRUST FTSE INT GVT ETF	FTSE INT GVT ETF	0.13%	$390,000	6.9K
63	AMLP ALPS ETF TRUST ALERIAN MLP ETF	ALERIAN MLP ETF	0.13%	$383,000	10.5K
64	BSV VANGUARD SHORT TRM BOND ETF	SHORT TRM BOND ETF	0.12%	$359,000	4.4K
65	AMZN AMAZON COM INC COM	COM	0.12%	$358,000	104
66	ACWI ISHARES TRUST MSCI ACWI ETF	MSCI ACWI ETF	0.12%	$354,000	3.5K
67	SPYD SPDR SERIES TRUST PRTFLO S&P500 HI ETF	PRTFLO S&P500 HI ETF	0.12%	$351,000	8.7K
68	VNQ VANGUARD REAL ESTATE ETF	REAL ESTATE ETF	0.12%	$351,000	3.4K
69	TSLA TESLA INC COM	COM	0.12%	$347,000	510
70	REM ISHARES TRUST MORTGE REL ETF	MORTGE REL ETF	0.12%	$346,000	9.3K
71	YYY AMPLIFY ETF TR HIGH INCOME ETF	HIGH INCOME ETF	0.11%	$342,000	19.4K
72	KBWD INVESCO EXCHANGE TRADED FUND T KBW HIG DV YLD ETF	KBW HIG DV YLD ETF	0.11%	$340,000	16.5K
73	IDV ISHARES TRUST INTL SEL DIV ETF	INTL SEL DIV ETF	0.11%	$335,000	10.3K
74	IEFA ISHARES TRUST CORE MSCI EAFE ETF	CORE MSCI EAFE ETF	0.10%	$301,000	4.0K
75	DFUS DIMENSIONAL ETF TR US EQUITY ETF	US EQUITY ETF	0.10%	$301,000	6.4K
76	DIS WALT DISNEY COMPANY (THE) COM	COM	0.10%	$288,000	1.6K
77	BARCLAYS BANK PLC NOTE CONV INDEX LNKD	NOTE CONV INDEX LNKD	0.08%	$245,000	208
78	AMAT APPLIED MATERIALS INC COM	COM	0.08%	$229,000	1.6K
79	JNJ JOHNSON & JOHNSON COM	COM	0.08%	$227,000	1.4K
80	VB VANGUARD SMALL CP ETF	SMALL CP ETF	0.08%	$227,000	1.0K
81	ISHARES TRUST IBOXX INV CP ETF	IBOXX INV CP ETF	0.08%	$225,000	1.7K
82	ITOT ISHARES TRUST CORE S&P TTL STK ETF	CORE S&P TTL STK ETF	0.07%	$219,000	2.2K
83	IEMG ISHARES INC CORE MSCI EMKT ETF	CORE MSCI EMKT ETF	0.07%	$216,000	3.2K
84	VMBS VANGUARD MORTG-BACK SEC ETF	MORTG-BACK SEC ETF	0.07%	$210,000	3.9K
85	SPY SPDR S&P500 ETF TRUST TR UNIT ETF	TR UNIT ETF	0.07%	$209,000	488
86	AMERICAN FINANCE TRUST INC COM USD0.01	COM USD0.01	0.07%	$206,000	24.3K
87	TLT ISHARES TRUST 20 YR TR BD ETF	20 YR TR BD ETF	0.06%	$193,000	1.3K
88	IYR ISHARES TRUST U.S. REAL ES ETF	U.S. REAL ES ETF	0.06%	$191,000	1.9K
89	BLV VANGUARD LONG TERM BOND ETF	LONG TERM BOND ETF	0.06%	$191,000	1.9K
90	BIV VANGUARD INTERMED TERM ETF	INTERMED TERM ETF	0.06%	$190,000	2.1K
91	ADP AUTOMATIC DATA PROCESSING INC COM	COM	0.06%	$185,000	930
92	FSK FS KKR CAPITAL CORP COM	COM	0.05%	$157,000	7.3K
93	ESGV VANGUARD ESG US STK ETF	ESG US STK ETF	0.05%	$154,000	1.9K
94	XLI SELECT SECTOR SPDR TRUST SBI INT-INDS ETF	SBI INT-INDS ETF	0.05%	$138,000	1.3K
95	GENERAL ELECTRIC CO NOTE	NOTE	0.05%	$138,000	127
96	CVX CHEVRON CORPORATION COM	COM	0.04%	$130,000	1.2K
97	TT TRANE TECHNOLOGIES PLC COM	COM	0.04%	$129,000	698
98	SHYG ISHARES TRUST 0-5YR HI YL CP ETF	0-5YR HI YL CP ETF	0.04%	$127,000	2.8K
99	CBSH COMMERCE BANCSHARES INC COM	COM	0.04%	$125,000	1.7K
100	TE CONNECTIVITY LTD COM	COM	0.04%	$115,000	850

Filing History

Quarter	Reported Value	Positions	Filed	Type	Links
Q2 2021	$299M	524	Jul 28, 2021	13F-HR	changes · EDGAR ↗
Q1 2021	$308M	502	May 28, 2021	13F-HR	changes · EDGAR ↗
Q3 2020	$2.6B	315	Oct 15, 2020	13F-HR	changes · EDGAR ↗
Q2 2020	$2.5B	288	Aug 18, 2020	13F-HR	changes · EDGAR ↗
Q1 2020	$1.9B	283	May 14, 2020	13F-HR	changes · EDGAR ↗
Q4 2019	$2.8B	362	Jan 15, 2020	13F-HR	changes · EDGAR ↗
Q3 2019	$2.6B	337	Oct 23, 2019	13F-HR	changes · EDGAR ↗
Q2 2019	$2.4B	316	Aug 12, 2019	13F-HR	changes · EDGAR ↗
Q1 2019	$2.3B	328	May 8, 2019	13F-HR	changes · EDGAR ↗
Q4 2018	$2.3B	315	Jan 3, 2019	13F-HR	changes · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.