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VOL. XII · NO. 117Established MMXIV · George Town, Grand CaymanAtlantic Edition · $4.50

The Cayman Journal

Finance · Business · Technology · Caribbean & Global Affairs
13F HOLDINGS REPORT

USA FINANCIAL FORMULAS

Quarter ended Q4 2024 · Filed January 14, 2025 · Accession 0001633716-25-000002

Total Value
$636.4M
Positions
286
Other Managers
0
Confidential Omitted
No
View on SEC.gov

Holdings (286)

#IssuerTicker / CUSIPSharesValue% of Filing
1iShares S&P 500 Growth ETF464287309827,204$84.0M13.20%
2SPDR S&P 500SPY138,043$80.9M12.71%
3SPDR Dow Jones Industrial Average ETF78467X109189,444$80.6M12.67%
4iShares S&P 500 Value ETF464287408404,398$77.2M12.13%
5BlackRock Institutional Trust Company N.A. - BTC iShares U.S. Real Est464287739801,813$74.6M11.72%
6iShares iBoxx USD Inv Grade Corp Bond ETF464287242397,597$42.5M6.67%
7iShares Core S&P 50046428720062,304$36.7M5.76%
8SPDR Series Trust - SPDR Bloomberg Barclays 1-3 Month T-Bill ETF78468R663252,502$23.1M3.63%
9iShares iBoxx USD High Yield Corp Bond ETF464288513124,266$9.8M1.54%
10T-Mobile US IncTMUSZ12,691$2.8M0.44%
11Cintas CorporationCTAS13,143$2.4M0.38%
12Xcel Energy, Inc.XELLL35,063$2.4M0.37%
13Bank Of New York Mellon Corp06405810023,416$1.8M0.28%
14Apple IncAAPL6,469$1.6M0.25%
15PayPal Holdings IncPYPL18,486$1.6M0.25%
16Gilead Sciences, Inc.GILD16,664$1.5M0.24%
17Illumina IncILMN10,833$1.4M0.23%
18Fortinet IncFTNT14,926$1.4M0.22%
19Cisco Systems, Inc.CSCO23,571$1.4M0.22%
20Amazon.com Inc.AMZN6,207$1.4M0.21%
21Fox Corporation - Ordinary Shares - Class AFOX27,657$1.3M0.21%
22Kinder Morgan Inc - Ordinary Shares - Class PEP-PC48,271$1.3M0.21%
23Fifth Third BancorpFITBM31,256$1.3M0.21%
24Boston Scientific Corp.BSX14,536$1.3M0.20%
25Autodesk Inc.ADSK4,380$1.3M0.20%
26Baker Hughes Co - Ordinary Shares - Class ABKR31,288$1.3M0.20%
27Honeywell International Inc4385161065,664$1.3M0.20%
28Trane Technologies plc - Ordinary Shares - Class ATT3,459$1.3M0.20%
29Netflix Inc.NFLX1,411$1.3M0.20%
30Walmart IncWMT13,842$1.3M0.20%
31Williams Cos Inc96945710023,009$1.2M0.20%
32Meta Platforms Inc - Ordinary Shares - Class AMETA2,125$1.2M0.20%
33Entergy Corp.ENO16,375$1.2M0.20%
34Insulet CorporationPODD4,725$1.2M0.19%
35Motorola Solutions IncMSI2,661$1.2M0.19%
36Texas Instruments Inc.8825081046,537$1.2M0.19%
37Intuitive Surgical IncISRG2,348$1.2M0.19%
38Verisk Analytics IncVRSK4,415$1.2M0.19%
39Datadog Inc - Ordinary Shares - Class ADDOG8,504$1.2M0.19%
40NiSource IncNI32,897$1.2M0.19%
41SempraSREA13,659$1.2M0.19%
42Morgan StanleyMS-PQ9,504$1.2M0.19%
43Synchrony FinancialSYF-PB18,365$1.2M0.19%
44Ventas IncVTR20,076$1.2M0.19%
45Trade Desk Inc - Ordinary Shares - Class A88339J1059,983$1.2M0.18%
46Costco Wholesale Corp22160K1051,277$1.2M0.18%
47Electronic Arts, Inc.EA7,930$1.2M0.18%
48Oneok Inc.OKE11,551$1.2M0.18%
49Bank Of America Corp.06050510426,358$1.2M0.18%
50Zebra Technologies Corp. - Ordinary Shares - Class AZBRA2,998$1.2M0.18%
51Atmos Energy Corp.ATO8,255$1.1M0.18%
52Royal Caribbean GroupV7780T1034,967$1.1M0.18%
53Alliant Energy Corp.LNT19,363$1.1M0.18%
54Targa Resources CorpTRGP6,406$1.1M0.18%
55Welltower Inc.WELL9,029$1.1M0.18%
56Public Service Enterprise Group Inc.74457310613,207$1.1M0.18%
57KKR & Co. IncKKRT7,477$1.1M0.17%
58Goldman Sachs Group, Inc.GSCE1,924$1.1M0.17%
59M & T Bank Corp55261F1045,819$1.1M0.17%
60Avalonbay Communities Inc.AWX4,970$1.1M0.17%
61Tyler Technologies, Inc.TYL1,862$1.1M0.17%
62L3Harris Technologies IncLHX5,013$1.1M0.17%
63Axon Enterprise IncAXON1,738$1.0M0.16%
64Invesco QQQ Trust ETFIVZ1,966$1.0M0.16%
65BlackRock Institutional Trust Company N.A. - BTC iShares S&P 100 ETF4642871013,459$999,1320.16%
66iShares Russell 1000 ETF4642876223,038$978,7220.15%
67Vanguard Total Stock Market ETF9229087693,366$975,5000.15%
68iShares Russell 3000 ETF4642876892,905$970,9960.15%
69Progressive Corp.7433151033,971$951,4910.15%
70iShares Russell 2000 ETF4642876554,288$947,4760.15%
71United Airlines Holdings IncUNTCW9,506$923,0330.15%
72Air Products & Chemicals Inc.AIIR3,148$913,0460.14%
73Westinghouse Air Brake Technologies Corp9297401084,782$906,6190.14%
74Godaddy Inc - Ordinary Shares - Class AGDDY4,387$865,8620.14%
75Nasdaq Inc - Ordinary Shares - 144ANDAQ11,078$856,4400.13%
76Ecolab, Inc.ECL3,637$852,2220.13%
77Howmet Aerospace IncHWM7,544$825,0870.13%
78Ameren Corp.AEE9,234$823,1190.13%
793M Co.MMM6,320$815,8490.13%
80Wells Fargo & Co.94974610111,462$805,0910.13%
81Duke Energy Corp.DUKB7,460$803,7400.13%
82Fiserv, Inc.FISV3,909$802,9870.13%
83Dover Corp.DOV4,150$778,5400.12%
84PNC Financial Services Group Inc6934751054,020$775,2570.12%
85Procter & Gamble Co.7427181094,623$775,0460.12%
86Vistra CorpVST5,481$755,6650.12%
87Hewlett Packard Enterprise CoHPE-PC28,883$616,6520.10%
88RTX CorpRTX5,273$610,1920.10%
89General Motors Company37045V10011,121$592,4160.09%
90Best Buy Co. Inc.BBY6,861$588,6740.09%
91Walt Disney Co (The)2546871065,210$580,1340.09%
92Verizon Communications IncVZ14,302$571,9370.09%
93Keysight Technologies IncKEYS3,558$571,5220.09%
94OSI ETF Trust - OwShares U.S. Quality Dividend ETF00162Q38710,241$544,0020.09%
95Hasbro, Inc.HAS9,350$522,7590.08%
96Chubb LimitedCB1,786$493,4720.08%
97Consumer Discretionary Select Sector SPDR81369Y4071,960$439,7260.07%
98Abbott LaboratoriesABLZF3,855$436,0390.07%
99Vanguard Communication Services ETF92204A8842,751$426,2950.07%
100Technology Select Sector SPDR81369Y8031,814$421,7910.07%
101W.W. Grainger Inc.384802104399$420,5660.07%
102Financial Select Sector SPDR81369Y6058,630$417,0880.07%
103Virtu Financial Inc - Ordinary Shares - Class A92825410111,085$395,5130.06%
104Industrial Select Sector SPDR81369Y7042,992$394,2260.06%
105Consumer Staples Select Sector SPDR81369Y3085,003$393,2860.06%
106Interactive Brokers Group Inc - Ordinary Shares - Class A45841N1072,201$388,8510.06%
107Utilities Select Sector SPDR81369Y8865,101$386,0950.06%
108Vanguard Real Estate Index Fund ETF9229085534,306$383,5780.06%
109Jefferies Financial Group Inc47233W1094,891$383,4540.06%
110Energy Select Sector SPDR81369Y5064,456$381,7010.06%
111Materials Select Sector SPDR81369Y1004,316$363,1480.06%
112Agree Realty Corp.0084921005,093$358,8020.06%
113Ryder System, Inc.R2,277$357,1710.06%
114Idacorp, Inc.IDA3,252$355,3790.06%
115Linde Plc.LIN824$344,9840.05%
116Equinix IncEQIX363$342,2690.05%
117Spotify Technology S.A.SPOT765$342,2460.05%
118Encompass Health CorpEHC3,642$336,3390.05%
119Goldman Sachs Real Estate Diversified Income FundNVGLF38,412$328,8040.05%
120Cion Ares Diversified Credit Fund17260G30112,940$327,9140.05%
121Lowe`s Cos., Inc.5486611071,324$326,7630.05%
122Hartford Financial Services Group Inc.HIG-PG2,962$324,0430.05%
123BOK Financial Corp.05561Q2012,997$319,0310.05%
124Pentair plcPNR3,161$318,1230.05%
125OSI ETF Trust - O`Shares Global Internet Giants ETF00162Q3616,746$310,2490.05%
126Texas Roadhouse IncTXRH1,711$308,7160.05%
127United Therapeutics CorpUTHR870$306,9710.05%
128Republic Services, Inc.7607591001,511$303,9830.05%
129Aflac Inc.AFL2,934$303,4930.05%
130Royal Gold, Inc.RGLD2,294$302,4640.05%
131Carvana Co. - Ordinary Shares - Class ACVNA1,486$302,1930.05%
132Cousins Properties Inc.2227955029,652$295,7370.05%
133Flowserve Corp.FLS5,128$294,9630.05%
134Curtiss-Wright Corp.CW798$283,1860.04%
135Caterpillar Inc.CAT771$279,6880.04%
136OSI ETF Trust - OShares U.S. Small-Cap Quality Dividend ETF00162Q3956,257$273,5560.04%
137Emcor Group, Inc.EME585$265,5320.04%
138C.H. Robinson Worldwide, Inc.CHRW2,541$262,5360.04%
139Guidewire Software IncGWRE1,522$256,5790.04%
140Salesforce IncCRM756$252,7530.04%
141Sherwin-Williams Co.SHW738$250,8680.04%
142Cardinal Health, Inc.CAH2,121$250,8510.04%
143NextEra Energy IncNEE-PW3,460$248,0470.04%
144Capital One Financial Corp.14040H1051,358$242,1590.04%
145Northrop Grumman Corp.NOC506$237,4610.04%
146Waste Management, Inc.94106L1091,174$236,9010.04%
147T. Rowe Price Group Inc.TROW2,093$236,6970.04%
148Truist Financial Corporation89832Q1095,442$236,0740.04%
149Huntington Bancshares, Inc.HBANP14,353$233,5230.04%
150Moody`s Corp.MCO491$232,4250.04%
151Lockheed Martin Corp.LMT473$229,8500.04%
152OSI ETF Trust - OShares Europe Quality Dividend ETF00162Q3798,292$228,3090.04%
153Target CorpTGT1,672$226,0210.04%
154Berkshire Hathaway Inc. - Ordinary Shares - Class BBRK-A498$225,7330.04%
155Medtronic PlcMDT2,807$224,2230.04%
156Dayforce Inc15677J1083,084$224,0220.04%
157Automatic Data Processing Inc.ADP765$223,9380.04%
158TJX Companies, Inc.8725401091,770$213,8340.03%
159Colgate-Palmolive Co.CL2,334$212,1840.03%
160Marsh & McLennan Cos., Inc.571748102993$210,9230.03%
161Unilever plc - ADRUNLYF3,700$209,7900.03%
162Emerson Electric Co.EMR1,682$208,4500.03%
163Amcor PlcAMCCF22,048$207,4720.03%
164Owens CorningOC1,207$205,5760.03%
165Mastercard Incorporated - Ordinary Shares - Class AMA384$202,2030.03%
166Verisign Inc.VRSN958$198,2680.03%
167Cincinnati Financial Corp.1720621011,358$195,1450.03%
168PepsiCo IncPEP1,282$194,9410.03%
169Becton Dickinson & Co.BDX847$192,1590.03%
170Assurant IncAIZN862$183,7960.03%
171Cboe Global Markets Inc.12503M108933$182,3080.03%
172S&P Global IncSPGI362$180,2870.03%
173Ameriprise Financial Inc03076C106336$178,8960.03%
174Hilton Worldwide Holdings IncHLT723$178,6970.03%
175Amdocs LtdDOX2,075$176,6660.03%
176Blackstone IncBX1,024$176,5580.03%
177Otis Worldwide CorpOTIS1,880$174,1070.03%
178O`Reilly Automotive, Inc.67103H107143$169,5690.03%
179PG&E Corp.PCG-PX8,287$167,2320.03%
180Johnson & JohnsonJNJ1,150$166,3130.03%
181D.R. Horton Inc.23331A1091,183$165,4070.03%
182iShares MSCI Japan ETF46434G8222,416$162,1140.03%
183Nucor Corp.NUE1,370$159,8930.03%
184Vanguard FTSE All-World Ex-US Small Capital Index9220427181,390$159,1270.03%
185Vanguard FTSE All-World ex-US ETF9220427752,762$158,5660.02%
186iShares MSCI EAFE ETF4642874652,096$158,4790.02%
187BlackRock Institutional Trust Company N.A. - BTC iShares Europe ETF4642878613,036$158,0540.02%
188Vanguard FTSE Emerging Markets ETF9220428583,573$157,3550.02%
189BlackRock Institutional Trust Company N.A. - BTC iShares MSCI Pacific4642866653,564$156,1390.02%
190iShares MSCI Hong Kong ETF4642868719,002$149,9730.02%
191Kimberly-Clark Corp.KMB1,129$147,9440.02%
192Chipotle Mexican GrillCMG2,442$147,2530.02%
193McCormick & Co., Inc. - Ordinary Shares (Non Voting)MKC-V1,906$145,3130.02%
194Sysco Corp.SYY1,843$140,9160.02%
195Interdigital IncIDCC676$130,9550.02%
196StoneX Group IncSNEX1,317$129,0260.02%
197ACI Worldwide IncACIW2,412$125,2070.02%
198Heartland Financial USA, Inc.42234Q1022,018$123,7140.02%
199Coastal Financial Corp19046P2091,441$122,3550.02%
200Arch Capital Group LtdG0450A1051,307$120,7010.02%
201Skywest Inc.SKYW1,180$118,1530.02%
202Avery Dennison Corp.AVY629$117,7050.02%
203Commvault Systems IncCVLT776$117,1060.02%
204Stride IncLRN945$98,2140.02%
205Ameris BancorpABCB1,568$98,1100.02%
206Acadia Realty Trust0042391093,886$93,8860.01%
207FTAI Aviation Ltd - Ordinary Shares - Class AFTAIN646$93,0500.01%
208Urban Edge Properties91704F1044,322$92,9230.01%
209Amphenol Corp. - Ordinary Shares - Class A0320951011,336$92,7850.01%
210Dime Community Bancshares Inc25432X1023,000$92,2050.01%
211COPT Defense PropertiesCDP2,917$90,2810.01%
212Cinemark Holdings IncCNK2,831$87,7040.01%
213Enerpac Tool Group Corp - Ordinary Shares - Class AEPAC2,034$83,5770.01%
214AECOMACM740$79,0470.01%
215Evergy IncEVRG1,190$73,2450.01%
216Turning Point Brands Inc90041L1051,218$73,2020.01%
217Portland General Electric Co7365088471,620$70,6640.01%
218Donaldson Co. Inc.DCI1,043$70,2460.01%
219PPG Industries, Inc.693506107582$69,5200.01%
220Home Depot, Inc.HD174$67,6840.01%
221Metropolitan Bank Holding Corp5917741041,131$66,0500.01%
222Waste Connections IncWCN382$65,5440.01%
223Ametek IncAME363$65,4340.01%
224Graco Inc.GGG736$62,0370.01%
225Golar LngGLNG1,453$61,4910.01%
226Frontdoor Inc.FTDR1,098$60,0280.01%
227Victory Capital Holdings Inc - Ordinary Shares - Class A92645B103904$59,1760.01%
228Lennar Corp. - Ordinary Shares - Class ALEN-B431$58,7750.01%
229Franklin Electric Co., Inc.FELE600$58,4700.01%
230ExlService Holdings IncEXLS1,317$58,4480.01%
231Otter Tail CorporationOTTR783$57,8170.01%
232Plexus Corp.PLXS359$56,1760.01%
233Pathward Financial IncCASH744$54,7440.01%
234UMB Financial Corp.902788108483$54,5110.01%
235Corcept Therapeutics IncCORT1,065$53,6650.01%
236Merit Medical Systems, Inc.589889104553$53,4860.01%
237Qifu Technology Inc. - ADRQFNHF997$38,2650.01%
238OneSpaWorld Holdings LimitedOSW1,831$36,4370.01%
239Innodata IncINOD903$35,6870.01%
240CarGurus Inc - Ordinary Shares - Class ACARG949$34,6760.01%
241Descartes Systems Group Inc249906108305$34,6480.01%
242MakeMyTrip LtdMMYT308$34,5820.01%
243Amalgamated Financial CorpAMAL1,007$33,7040.01%
244Alliance Resource Partners, LP - UnitARLP1,270$33,3880.01%
245NVR Inc.NVR4$32,7160.01%
246Exelixis IncEXEL968$32,2340.01%
247Banner Corp.BANR476$31,7830.00%
248Veritex Holdings Inc9234511081,168$31,7230.00%
249Construction Partners Inc - Ordinary Shares - Class AROAD349$30,8730.00%
250Radnet IncRDNT435$30,3800.00%
251Build A Bear Workshop IncBBW592$27,2560.00%
252Primoris Services Corp74164F103347$26,5110.00%
253Tecnoglass IncTGLS324$25,7000.00%
254Adtalem Global Education IncADT282$25,6200.00%
255Chromadex CorpNAGE4,798$25,4530.00%
256TTM Technologies IncTTMI1,021$25,2700.00%
257Enova International Inc.29357K103261$25,0250.00%
258Carpenter Technology Corp.CRS146$24,7780.00%
259Mueller Water Products Inc - Ordinary Shares - Series A6247581081,066$23,9850.00%
260Imax CorpIMAX925$23,6800.00%
261FB Financial Corp30257X104457$23,5400.00%
262Group 1 Automotive, Inc.GPI55$23,1810.00%
263CRA International Inc.12618T105120$22,4640.00%
264Independence Realty Trust Inc45378A1061,114$22,1020.00%
265Dorman Products Inc258278100170$22,0240.00%
266Itron Inc.ITRI200$21,7160.00%
267Lemaitre Vascular IncLMAT235$21,6530.00%
268Catalyst Pharmaceuticals IncCPRX1,037$21,6420.00%
269Cactus Inc - Ordinary Shares - Class AWHD369$21,5350.00%
270Sabra Healthcare REIT IncSBRA1,203$20,8360.00%
271CSW Industrials IncCSW57$20,1100.00%
272CareTrust REIT IncCTRE726$19,6380.00%
273National Health Investors, Inc.63633D104279$19,3350.00%
274Matson IncMATX143$19,2820.00%
275Ensign Group IncENSG142$18,8660.00%
276Lantheus Holdings IncLNTH206$18,4290.00%
277Pennant Group IncPNTG675$17,9010.00%
278Alphabet Inc - Ordinary Shares - Class CGOOG91$17,3300.00%
279American Express Co.AXP53$15,7300.00%
280Intuit IncINTU25$15,7130.00%
281Nike, Inc. - Ordinary Shares - Class BNKE205$15,5120.00%
282AeroVironment Inc.AVAV98$15,0810.00%
283Union Pacific Corp.UNP66$15,0510.00%
284Cigna Group (The)12552310047$12,9790.00%
285Innovative Industrial Properties IncINHD172$11,4620.00%
286BlackRock Institutional Trust Company N.A. - BTC iShares S&P GSCI CommISMCF113$2,4600.00%