Usa Financial Formulas Llc
SEC-registered
Wealth Manager · Small ($100M–$1B)
CRD 139987
· SEC file 801-67442
· Ada, MI
· WWW.PORTFORMULAS.COM
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ADV data as of Mar 27, 2026
- Regulatory AUM
- $534M
- Discretionary
- $534M
- Clients
- 7,489
- Avg AUM / client
- $71.4K
- Accounts
- 7,489
- Employees
- 38
AUM over time
$175M
$741M
Dec 2011
Dec 2025
Annual snapshots from Form ADV filings · as of Mar 27, 2026
Investments (13F portfolio — 437 positions, $530,500,302)
13F period Mar 31, 2026| # | Issuer | Class | Value | Shares | % of 13F | % of AUM |
|---|---|---|---|---|---|---|
| 1 | I Shares S&P Small Cap 600 Value Etf | SP SMCP600VL ETF | $109,900,279 | 927,820 | 20.7% | 20.6% |
| 2 | I Shares Russell 2000 Etf | RUSSELL 2000 ETF | $108,117,088 | 435,956 | 20.4% | 20.2% |
| 3 | I Shares S&P Mid Cap 400 Growth Etf | S&P MC 400GR ETF | $104,844,933 | 1,041,989 | 19.8% | 19.6% |
| 4 | I Shares Core S&P 500 | CORE S&P500 ETF | $38,126,561 | 58,368 | 7.19% | 7.13% |
| 5 | Spdr Series Trust Spdr Bloomberg Barclays 1 3 Month T Bill Etf | STATE STREET SPD | $23,236,513 | 253,563 | 4.38% | 4.35% |
| 6 | Black Rock Institutional Trust Company N.A. Btc I Shares S&P Gsci Comm | UNIT BEN INT | $18,630,567 | 577,692 | 3.51% | 3.49% |
| 7 | I Shares I Boxx Usd Inv Grade Corp Bond Etf | IBOXX INV CP ETF | $13,976,660 | 128,238 | 2.63% | 2.62% |
| 8 | I Shares 7 10 Year Treasury Bond Etf | 7-10 YR TRSY BD | $12,327,889 | 129,169 | 2.32% | 2.31% |
| 9 | Invesco Qqq Trust Etf | UNIT SER 1 | $3,841,133 | 6,655 | 0.72% | 0.72% |
| 10 | Aim Etf Products Trust Allianz Im U.S. Large Cap 6 Month Buffer10 Jan/Jul Etf | ALLIANZIM US EQU | $3,833,480 | 113,956 | 0.72% | 0.72% |
| 11 | Aim Etf Products Trust Allianz Im U.S. Large Cap 6 Month Buffer10 Apr/Oct Etf | ALLIANZIM US EQU | $3,734,582 | 110,556 | 0.7% | 0.7% |
| 12 | I Shares Msci Emerging Markets Etf | MSCI EMG MKT ETF | $3,405,242 | 59,962 | 0.64% | 0.64% |
| 13 | I Shares S&P 500 Growth Etf | S&P 500 GRWT ETF | $3,284,828 | 29,041 | 0.62% | 0.61% |
| 14 | Allianzim Us Buffered 15 Uncapped Jan | ALLIANZIM US EQU | $1,902,160 | 69,589 | 0.36% | 0.36% |
| 15 | Allianzim Us Buffer 15 Uncapped Oct Etf | ALLIANZIM US EQU | $1,897,416 | 68,733 | 0.36% | 0.36% |
| 16 | Aim Etf Products Trust Allianz Im U.S. Equity Buffer15 Uncapped Jul Etf | ALLIANZIM US EQU | $1,883,329 | 65,966 | 0.36% | 0.35% |
| 17 | Aim Etf Products Trust Allianz Im U.S. Equity Buffer15 Uncapped Apr Etf | ALLIANZIM US EQU | $1,863,022 | 64,932 | 0.35% | 0.35% |
| 18 | Applied Materials Inc. | COM | $1,635,123 | 4,784 | 0.31% | 0.31% |
| 19 | Western Digital Corp. | COM | $1,522,318 | 5,628 | 0.29% | 0.28% |
| 20 | Cisco Systems, Inc. | COM | $1,491,978 | 19,229 | 0.28% | 0.28% |
| 21 | Lam Research Corp. | COM NEW | $1,418,489 | 6,639 | 0.27% | 0.27% |
| 22 | Micron Technology Inc. | COM | $1,378,049 | 4,079 | 0.26% | 0.26% |
| 23 | Gilead Sciences, Inc. | COM | $1,366,383 | 9,804 | 0.26% | 0.26% |
| 24 | Ross Stores, Inc. | COM | $1,340,290 | 6,187 | 0.25% | 0.25% |
| 25 | Seagate Technology Holdings Plc | ORD SHS | $1,328,066 | 3,390 | 0.25% | 0.25% |
Top 25 of 437 positions from the manager's latest Form 13F · source filing (EDGAR) ↗. 13F covers long US-listed positions only. "% of AUM" is share of the firm's total regulatory AUM (Form ADV Item 5.F).
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Individuals (non-high net worth) | 7,489 | $534M | 100.0% |
Retirement plan clients
Plans that reported this firm as an investment service provider on Form 5500 Schedule C.
| Plan | Location | Plan year |
|---|---|---|
| Associated General Contractors Of Maine 401(k) Profit Sharing Plan And Trust Associated General Contractors Of Maine | 2024 |
People (7)
roster as of Jul 20, 2026| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Michael David Walters | Ceo/Manager | Jan 2006 (21y) | Less than 5% | |
| Brent David Enders | President/Manager | Feb 2006 (21y) | Less than 5% | |
| Bachert, William, Clayton | Chief Financial Officer / Manager | Apr 2007 (19y) | Less than 5% | |
| Mark Robert Mersman | Chief Marketing Officer | Jun 2014 (12y) | Less than 5% | |
| Matthew Howard Eilers | Chief Business Development Officer | Nov 2018 (8y) | Less than 5% | |
| Mcconnell, James, Carroll | Chief Operations Officer | Nov 2021 (5y) | Less than 5% | |
| Dawn M Thomason | Chief Compliance Officer | Aug 2022 (4y) | Less than 5% |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Usa Financial Llc | Direct Owner | Jan 2010 | A | 75% or more |
| Al Marketing Llc | Member | Aug 2021 | B | ≈ 56.25% – 100% via Usa Financial Llc |
| Amerilife Group Llc | Member | Aug 2021 | B | ≈ 42.19% – 100% via Al Marketing Llc |
| Amerilife Midco Llc | Member | Aug 2021 | B | ≈ 31.64% – 100% via Amerilife Group Llc |
| Amerilife Holdings Llc | Member | Aug 2021 | B | ≈ 23.73% – 100% via Amerilife Midco Llc |
| Accelerate Buyer Llc | Member | Aug 2021 | B | ≈ 17.8% – 100% via Amerilife Holdings Llc |
| Accelerate Intermediate Holdings 1 Llc | Member | Aug 2021 | B | ≈ 13.35% – 100% via Accelerate Buyer Llc |
| Accelerate Intermediate Holdings 2 Llc | Member | Aug 2021 | B | ≈ 10.01% – 100% via Accelerate Intermediate Holdings 1 Llc |
| Accelerate Topco Holdings Llc | Member | Aug 2021 | B | ≈ 7.51% – 100% via Accelerate Intermediate Holdings 2 Llc |
| Icg Holiday Partners I Lp | Limited Partner | Nov 2022 | B | 75% or more of Thl Al Blocked Buyer Feeder Lp (indirect) |
| Thl Amerilife Parallel Spv Lp | Member | Nov 2022 | B | ≈ 0.94% – 37.5% via Amerilife Blocker Holdings Llc |
| Genstar Capital Partners X Lp | Limited Partner | Aug 2022 | B | ≈ 0.23% – 18.75% via Gc Propel Aggregator Lp |
| Amerilife Blocker Holdings Llc | Member | Nov 2022 | B | ≈ 1.88% – 50% via Accelerate Topco Holdings Llc |
| Gc Propel Holdings Inc | Member | Aug 2022 | B | ≈ 1.88% – 50% via Accelerate Topco Holdings Llc |
| Gc Propel Aggregator Lp | Shareholder | Aug 2022 | B | ≈ 0.47% – 25% via Gc Propel Holdings Inc |
| Thl Amerilife Equity Advisors Llc | General Partner | Nov 2022 | B | GP / trustee / elected manager of Thl Amerilife Parallel Spv Lp (indirect) |
| Thl Al Blocked Buyer Feeder Lp | Limited Partner | Nov 2022 | B | GP / trustee / elected manager of Thl Amerilife Parallel Spv Lp (indirect) |
| Gc Propel Aggregator Gp Llc | General Partner | Aug 2022 | B | GP / trustee / elected manager of Gc Propel Aggregator Lp (indirect) |
| Genstar Capital X Lp | General Partner | Aug 2022 | B | GP / trustee / elected manager of Genstar Capital Partners X Lp (indirect) |
| Genstar X Gp Llc | General Partner | Aug 2022 | B | GP / trustee / elected manager of Genstar Capital X Lp (indirect) |
Undisclosed: 0% – 25% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- Al Marketing Llc: 75% – 100% of Usa Financial Llc × 75% – 100% direct ≈ 56.25% – 100% of the firm
- Amerilife Group Llc: 75% – 100% of Al Marketing Llc × 75% – 100% of Usa Financial Llc × 75% – 100% direct ≈ 42.19% – 100% of the firm
- Amerilife Midco Llc: 75% – 100% of Amerilife Group Llc × 75% – 100% of Al Marketing Llc × 75% – 100% of Usa Financial Llc × 75% – 100% direct ≈ 31.64% – 100% of the firm
- Amerilife Holdings Llc: 75% – 100% of Amerilife Midco Llc × 75% – 100% of Amerilife Group Llc × 75% – 100% of Al Marketing Llc × 75% – 100% of Usa Financial Llc × 75% – 100% direct ≈ 23.73% – 100% of the firm
- Accelerate Buyer Llc: 75% – 100% of Amerilife Holdings Llc × 75% – 100% of Amerilife Midco Llc × 75% – 100% of Amerilife Group Llc × 75% – 100% of Al Marketing Llc × 75% – 100% of Usa Financial Llc × 75% – 100% direct ≈ 17.8% – 100% of the firm
- Accelerate Intermediate Holdings 1 Llc: 75% – 100% of Accelerate Buyer Llc × 75% – 100% of Amerilife Holdings Llc × 75% – 100% of Amerilife Midco Llc × 75% – 100% of Amerilife Group Llc × 75% – 100% of Al Marketing Llc × 75% – 100% of Usa Financial Llc × 75% – 100% direct ≈ 13.35% – 100% of the firm
- Accelerate Intermediate Holdings 2 Llc: 75% – 100% of Accelerate Intermediate Holdings 1 Llc × 75% – 100% of Accelerate Buyer Llc × 75% – 100% of Amerilife Holdings Llc × 75% – 100% of Amerilife Midco Llc × 75% – 100% of Amerilife Group Llc × 75% – 100% of Al Marketing Llc × 75% – 100% of Usa Financial Llc × 75% – 100% direct ≈ 10.01% – 100% of the firm
- Accelerate Topco Holdings Llc: 75% – 100% of Accelerate Intermediate Holdings 2 Llc × 75% – 100% of Accelerate Intermediate Holdings 1 Llc × 75% – 100% of Accelerate Buyer Llc × 75% – 100% of Amerilife Holdings Llc × 75% – 100% of Amerilife Midco Llc × 75% – 100% of Amerilife Group Llc × 75% – 100% of Al Marketing Llc × 75% – 100% of Usa Financial Llc × 75% – 100% direct ≈ 7.51% – 100% of the firm
- Thl Amerilife Parallel Spv Lp: 50% – 75% of Amerilife Blocker Holdings Llc × 25% – 50% of Accelerate Topco Holdings Llc × 75% – 100% of Accelerate Intermediate Holdings 2 Llc × 75% – 100% of Accelerate Intermediate Holdings 1 Llc × 75% – 100% of Accelerate Buyer Llc × 75% – 100% of Amerilife Holdings Llc × 75% – 100% of Amerilife Midco Llc × 75% – 100% of Amerilife Group Llc × 75% – 100% of Al Marketing Llc × 75% – 100% of Usa Financial Llc × 75% – 100% direct ≈ 0.94% – 37.5% of the firm
- Genstar Capital Partners X Lp: 50% – 75% of Gc Propel Aggregator Lp × 25% – 50% of Gc Propel Holdings Inc × 25% – 50% of Accelerate Topco Holdings Llc × 75% – 100% of Accelerate Intermediate Holdings 2 Llc × 75% – 100% of Accelerate Intermediate Holdings 1 Llc × 75% – 100% of Accelerate Buyer Llc × 75% – 100% of Amerilife Holdings Llc × 75% – 100% of Amerilife Midco Llc × 75% – 100% of Amerilife Group Llc × 75% – 100% of Al Marketing Llc × 75% – 100% of Usa Financial Llc × 75% – 100% direct ≈ 0.23% – 18.75% of the firm
- Amerilife Blocker Holdings Llc: 25% – 50% of Accelerate Topco Holdings Llc × 75% – 100% of Accelerate Intermediate Holdings 2 Llc × 75% – 100% of Accelerate Intermediate Holdings 1 Llc × 75% – 100% of Accelerate Buyer Llc × 75% – 100% of Amerilife Holdings Llc × 75% – 100% of Amerilife Midco Llc × 75% – 100% of Amerilife Group Llc × 75% – 100% of Al Marketing Llc × 75% – 100% of Usa Financial Llc × 75% – 100% direct ≈ 1.88% – 50% of the firm
- Gc Propel Holdings Inc: 25% – 50% of Accelerate Topco Holdings Llc × 75% – 100% of Accelerate Intermediate Holdings 2 Llc × 75% – 100% of Accelerate Intermediate Holdings 1 Llc × 75% – 100% of Accelerate Buyer Llc × 75% – 100% of Amerilife Holdings Llc × 75% – 100% of Amerilife Midco Llc × 75% – 100% of Amerilife Group Llc × 75% – 100% of Al Marketing Llc × 75% – 100% of Usa Financial Llc × 75% – 100% direct ≈ 1.88% – 50% of the firm
- Gc Propel Aggregator Lp: 25% – 50% of Gc Propel Holdings Inc × 25% – 50% of Accelerate Topco Holdings Llc × 75% – 100% of Accelerate Intermediate Holdings 2 Llc × 75% – 100% of Accelerate Intermediate Holdings 1 Llc × 75% – 100% of Accelerate Buyer Llc × 75% – 100% of Amerilife Holdings Llc × 75% – 100% of Amerilife Midco Llc × 75% – 100% of Amerilife Group Llc × 75% – 100% of Al Marketing Llc × 75% – 100% of Usa Financial Llc × 75% – 100% direct ≈ 0.47% – 25% of the firm
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Retirement plans served (1)
| Plan | Sponsor | Participants | Plan assets | As of |
|---|---|---|---|---|
| Associated General Contractors Of Maine 401(k) Profit Sharing Plan And Trust | Associated General Contractors Of Maine | 191 | $15.2M | 01/01/2024 |
From Form 5500 service-provider disclosures.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 03/27/2026 | 1.25 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
Services
- • Portfolio management for individuals/small businesses
- • Portfolio management for businesses/institutional clients
Custody
Reported custodians
- TD Ameritrade $586M (110% of AUM) Mar 2026
- Axos Clearing $448M (82% of AUM) Mar 2023
- Trust Company Of America $424M (57% of AUM) Aug 2022
Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).
Firm reports it does not have custody of client funds or securities (Item 9.A).
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Mar 27, 2026.
View current Form ADV (SEC/IAPD) ↗