13F HOLDINGS REPORT

VICTORY FINANCIAL GROUP, LLC

Quarter ended Q3 2025 · Filed November 14, 2025 · Accession 0001754960-25-000796

Total Value

$727.3M

Positions

248

Other Managers

Confidential Omitted

View on SEC.gov

Holdings (248)

#	Issuer	Ticker / CUSIP	Shares	Value	% of Filing
1	ISHARES TR	464289438	441,664	$120.9M	16.62%
2	SCHWAB STRATEGIC TR	808524797	1,934,809	$52.8M	7.27%
3	ISHARES TR	464288307	412,461	$34.1M	4.69%
4	SELECT SECTOR SPDR TR	81369Y803	108,419	$30.6M	4.20%
5	FIRST TR EXCHANGE-TRADED FD	33734H106	559,077	$25.9M	3.56%
6	FIDELITY COVINGTON TRUST	316092840	457,386	$25.5M	3.51%
7	VANGUARD INDEX FDS	922908363	37,520	$23.0M	3.16%
8	ISHARES TR	46435G409	574,388	$20.4M	2.81%
9	MORGAN STANLEY ETF TRUST	MS-PQ	370,192	$19.1M	2.62%
10	NVIDIA CORPORATION	NVDA	85,363	$15.9M	2.19%
11	ISHARES TR	464287804	132,802	$15.8M	2.17%
12	APPLE INC	AAPL	56,558	$14.4M	1.98%
13	VANGUARD INDEX FDS	922908611	65,592	$13.7M	1.88%
14	PIMCO ETF TR	72201R585	486,801	$13.1M	1.80%
15	SPDR SERIES TRUST	78464A201	136,550	$12.9M	1.77%
16	FIDELITY MERRIMACK STR TR	316188309	275,827	$12.8M	1.76%
17	SPDR SERIES TRUST	78468R663	126,538	$11.7M	1.60%
18	VANECK ETF TRUST	92189F643	92,926	$9.2M	1.27%
19	MICROSOFT CORP	MSFT	14,601	$7.6M	1.04%
20	AMPLIFY ETF TR	032108409	144,161	$6.4M	0.88%
21	TESLA INC	TSLA	13,865	$6.1M	0.84%
22	SPDR INDEX SHS FDS	78463X509	115,511	$5.4M	0.74%
23	AMAZON COM INC	AMZN	22,647	$4.9M	0.67%
24	FEDERATED HERMES ETF TRUST	FHI	151,531	$4.9M	0.67%
25	VANGUARD SCOTTSDALE FDS	92206C706	78,335	$4.7M	0.65%
26	VANGUARD MALVERN FDS	922020748	59,929	$4.7M	0.65%
27	SELECT SECTOR SPDR TR	81369Y605	80,666	$4.3M	0.60%
28	VANGUARD SCOTTSDALE FDS	92206C813	55,952	$4.3M	0.60%
29	VANGUARD WHITEHALL FDS	921946406	30,660	$4.3M	0.59%
30	SELECT SECTOR SPDR TR	81369Y852	35,364	$4.2M	0.58%
31	SELECT SECTOR SPDR TR	81369Y704	26,774	$4.1M	0.57%
32	INVESCO EXCHANGE TRADED FD T	IVZ	38,252	$4.0M	0.55%
33	INVESCO QQQ TR	IVZ	6,666	$4.0M	0.55%
34	SPDR S&P MIDCAP 400 ETF TR	MDY	6,428	$3.8M	0.53%
35	META PLATFORMS INC	META	5,012	$3.7M	0.51%
36	VANGUARD INDEX FDS	922908769	11,205	$3.7M	0.51%
37	SIMPLIFY EXCHANGE TRADED FUN	82889N764	116,980	$3.7M	0.50%
38	SELECT SECTOR SPDR TR	81369Y209	26,144	$3.6M	0.50%
39	VANGUARD INTL EQUITY INDEX F	922042858	66,724	$3.6M	0.50%
40	BROADCOM INC	AVGO	10,947	$3.6M	0.50%
41	ALPHABET INC	GOOG	13,584	$3.3M	0.45%
42	FIRST TR EXCH TRADED FD III	33739P855	165,222	$3.2M	0.44%
43	ISHARES TR	464287887	21,951	$3.1M	0.43%
44	VANGUARD WELLINGTON FD	921935607	21,058	$3.0M	0.42%
45	VANGUARD INDEX FDS	922908538	10,176	$3.0M	0.41%
46	ARK ETF TR	00214Q401	16,616	$2.9M	0.40%
47	SPDR SERIES TRUST	78464A409	24,150	$2.7M	0.36%
48	BERKSHIRE HATHAWAY INC DEL	BRK-A	5,152	$2.6M	0.36%
49	CAPITAL GROUP DIVIDEND VALUE	14020W106	58,328	$2.5M	0.34%
50	SPDR SERIES TRUST	78468R523	24,085	$2.4M	0.33%
51	INVESCO EXCHANGE TRADED FD T	IVZ	46,129	$2.2M	0.30%
52	HOME DEPOT INC	HD	4,673	$1.9M	0.26%
53	ISHARES TR	46436E718	18,002	$1.8M	0.25%
54	TOUCHSTONE ETF TRUST	89157W202	66,925	$1.8M	0.24%
55	AMERICAN CENTY ETF TR	025072802	19,166	$1.7M	0.23%
56	SPDR S&P 500 ETF TR	SPY	2,560	$1.7M	0.23%
57	VANGUARD INDEX FDS	922908629	5,692	$1.7M	0.23%
58	GOLDMAN SACHS ETF TR	NVGLF	16,351	$1.6M	0.23%
59	PHILIP MORRIS INTL INC	718172109	10,015	$1.6M	0.22%
60	ELI LILLY & CO	LLY	2,031	$1.6M	0.21%
61	ISHARES TR	464288513	19,120	$1.5M	0.21%
62	VANGUARD TAX-MANAGED FDS	921943858	25,580	$1.5M	0.21%
63	SPDR GOLD TR	GLD	4,080	$1.5M	0.20%
64	TAIWAN SEMICONDUCTOR MFG LTD	874039100	5,127	$1.4M	0.20%
65	VANGUARD SCOTTSDALE FDS	92206C680	11,860	$1.4M	0.20%
66	TEXAS INSTRS INC	882508104	7,663	$1.4M	0.19%
67	SOFI TECHNOLOGIES INC	SOFI	53,486	$1.4M	0.19%
68	VISA INC	V	4,050	$1.4M	0.19%
69	VANGUARD INDEX FDS	922908744	7,209	$1.3M	0.18%
70	PGIM ROCK ETF TR	69420N718	45,315	$1.3M	0.18%
71	ALPHABET INC	GOOG	5,420	$1.3M	0.18%
72	LAZARD ACTIVE ETF TR	LAZ	46,422	$1.3M	0.18%
73	PALANTIR TECHNOLOGIES INC	PLTR	7,190	$1.3M	0.18%
74	ABBVIE INC	ABBV	5,565	$1.3M	0.18%
75	ISHARES TR	464287465	13,510	$1.3M	0.17%
76	BONDBLOXX ETF TRUST	09789C721	24,479	$1.2M	0.17%
77	LOCKHEED MARTIN CORP	LMT	2,446	$1.2M	0.17%
78	NETFLIX INC	NFLX	1,011	$1.2M	0.17%
79	ADVANCED MICRO DEVICES INC	AMD	7,081	$1.2M	0.17%
80	GOLDMAN SACHS GROUP INC	GSCE	1,502	$1.2M	0.16%
81	JPMORGAN CHASE & CO.	VYLD	3,768	$1.2M	0.16%
82	OCCIDENTAL PETE CORP	674599105	24,553	$1.2M	0.16%
83	UBER TECHNOLOGIES INC	UBER	11,130	$1.1M	0.16%
84	FIRST TR EXCHANGE TRADED FD	33738R506	16,715	$1.1M	0.15%
85	SCHWAB STRATEGIC TR	808524805	47,887	$1.1M	0.15%
86	COSTCO WHSL CORP NEW	22160K105	1,203	$1.1M	0.15%
87	LISTED FDS TR	53656G498	16,900	$1.1M	0.15%
88	ISHARES TR	46432F842	12,509	$1.1M	0.15%
89	VANGUARD INDEX FDS	922908512	6,100	$1.1M	0.15%
90	VANGUARD BD INDEX FDS	921937835	14,303	$1.1M	0.15%
91	ISHARES TR	464288448	28,469	$1.0M	0.14%
92	SCHWAB STRATEGIC TR	808524201	39,237	$1.0M	0.14%
93	COEUR MNG INC	192108504	52,619	$1.0M	0.14%
94	UNITEDHEALTH GROUP INC	UNH	2,914	$1.0M	0.14%
95	POWELL INDS INC	739128106	3,296	$1.0M	0.14%
96	ORACLE CORP	ORCL-PD	3,501	$986,776	0.14%
97	EXXON MOBIL CORP	XOM	8,566	$966,373	0.13%
98	ISHARES TR	464287614	2,050	$960,378	0.13%
99	ZACKS TRUST	98888G105	27,522	$925,290	0.13%
100	TAPESTRY INC	TPR	8,158	$923,649	0.13%
101	CHEVRON CORP NEW	CVX	5,808	$902,714	0.12%
102	ISHARES TR	464287432	9,280	$878,509	0.12%
103	CME GROUP INC	CME	3,022	$816,244	0.11%
104	DBX ETF TR	233051200	23,319	$810,122	0.11%
105	WALMART INC	WMT	7,828	$806,709	0.11%
106	JOHNSON & JOHNSON	JNJ	4,333	$802,879	0.11%
107	MGIC INVT CORP WIS	552848103	27,994	$794,190	0.11%
108	AB ACTIVE ETFS INC	00039J608	20,352	$772,450	0.11%
109	FLEXSHARES TR	FLEX	9,882	$770,452	0.11%
110	ZACKS TRUST	98888G808	25,694	$753,776	0.10%
111	ISHARES TR	464287200	1,122	$751,152	0.10%
112	ISHARES TR	464287671	4,535	$746,287	0.10%
113	CROWDSTRIKE HLDGS INC	CRWD	1,516	$743,416	0.10%
114	ISHARES TR	464289420	8,457	$743,222	0.10%
115	APPLOVIN CORP	APP	1,030	$740,096	0.10%
116	PALO ALTO NETWORKS INC	PANW	3,575	$730,209	0.10%
117	VANGUARD CHARLOTTE FDS	92203J407	14,378	$711,143	0.10%
118	VERIZON COMMUNICATIONS INC	VZ	15,738	$691,649	0.10%
119	ENTERPRISE PRODS PARTNERS L	293792107	21,324	$666,801	0.09%
120	CATERPILLAR INC	CAT	1,371	$654,402	0.09%
121	ISHARES TR	464288414	6,115	$651,186	0.09%
122	FLEXSHARES TR	FLEX	2,655	$643,280	0.09%
123	ISHARES TR	464287655	2,633	$637,007	0.09%
124	SELECT SECTOR SPDR TR	81369Y506	6,985	$624,046	0.09%
125	WELLS FARGO CO NEW	949746101	7,440	$623,595	0.09%
126	FLEXSHARES TR	FLEX	7,021	$623,009	0.09%
127	ROBINHOOD MKTS INC	770700102	4,321	$618,967	0.09%
128	AMERICAN ELEC PWR CO INC	025537101	5,457	$613,913	0.08%
129	CHIPOTLE MEXICAN GRILL INC	CMG	15,617	$611,756	0.08%
130	SCHWAB STRATEGIC TR	808524300	19,119	$610,089	0.08%
131	TENCENT MUSIC ENTMT GROUP	XHLD	25,048	$607,960	0.08%
132	NIOCORP DEVS LTD	654484609	86,910	$600,599	0.08%
133	AMGEN INC	AMGN	2,110	$594,878	0.08%
134	ISHARES TR	464287507	8,874	$579,108	0.08%
135	INVESCO EXCHANGE TRADED FD T	IVZ	5,217	$573,079	0.08%
136	ALIBABA GROUP HLDG LTD	BBAAY	3,169	$566,395	0.08%
137	AMERICAN EXPRESS CO	AXP	1,695	$563,343	0.08%
138	BOEING CO	BA-PA	2,588	$558,568	0.08%
139	MCDONALDS CORP	MCD	1,825	$553,688	0.08%
140	ZACKS TRUST	98888G204	14,746	$550,800	0.08%
141	HARTFORD FDS EXCHANGE TRADED	41653L305	15,972	$547,680	0.08%
142	SALESFORCE INC	CRM	2,287	$543,684	0.07%
143	SCHWAB STRATEGIC TR	808524755	12,566	$539,835	0.07%
144	TJX COS INC NEW	872540109	3,705	$535,665	0.07%
145	BANK AMERICA CORP	060505104	10,089	$521,237	0.07%
146	PGIM ETF TR	69344A206	14,072	$503,083	0.07%
147	SPDR SERIES TRUST	78468R622	5,131	$502,833	0.07%
148	PROCTER AND GAMBLE CO	742718109	3,244	$499,462	0.07%
149	VANECK ETF TRUST	92189F676	1,527	$498,352	0.07%
150	INTERNATIONAL BUSINESS MACHS	INTR	1,749	$492,354	0.07%
151	RTX CORPORATION	RTX	2,926	$489,608	0.07%
152	LAM RESEARCH CORP	LRCX	4,147	$488,333	0.07%
153	ISHARES TR	464287663	4,771	$476,887	0.07%
154	ACCENTURE PLC IRELAND	ACN	1,901	$472,486	0.06%
155	MARATHON PETE CORP	MARA	2,444	$471,057	0.06%
156	ISHARES TR	464287226	4,626	$463,763	0.06%
157	DRAFTKINGS INC NEW	DKNG	11,782	$449,997	0.06%
158	GE AEROSPACE	369604301	1,489	$447,941	0.06%
159	T-MOBILE US INC	TMUSZ	1,855	$442,614	0.06%
160	MICRON TECHNOLOGY INC	MU	2,638	$442,059	0.06%
161	DUPONT DE NEMOURS INC	DD	5,659	$440,816	0.06%
162	ISHARES TR	464287150	2,984	$434,684	0.06%
163	MASTERCARD INCORPORATED	MA	756	$430,020	0.06%
164	HUBBELL INC	HUBB	998	$429,449	0.06%
165	ISHARES TR	46432F339	2,103	$409,056	0.06%
166	VANGUARD WHITEHALL FDS	921946810	4,532	$405,931	0.06%
167	PGIM ETF TR	69344A834	7,679	$402,112	0.06%
168	KEURIG DR PEPPER INC	KDP	15,542	$396,323	0.05%
169	FIRST TR EXCHNG TRADED FD VI	33740U372	12,806	$392,695	0.05%
170	VANGUARD INDEX FDS	922908736	816	$391,256	0.05%
171	PACER FDS TR	69374H881	6,691	$384,532	0.05%
172	APPLIED DIGITAL CORP	APLD	14,265	$376,560	0.05%
173	VANGUARD MUN BD FDS	922907746	7,499	$375,698	0.05%
174	VANGUARD INDEX FDS	922908751	1,474	$374,772	0.05%
175	PDD HOLDINGS INC	PDD	2,815	$372,059	0.05%
176	FIRST TR EXCHANGE-TRADED FD	33741X102	9,729	$369,892	0.05%
177	NIO INC	NIOIF	48,352	$368,442	0.05%
178	KRANESHARES TRUST	500767306	8,765	$368,218	0.05%
179	WESTERN ALLIANCE BANCORP	WAL-PA	4,192	$363,530	0.05%
180	LAMAR ADVERTISING CO NEW	LAMR	2,949	$361,017	0.05%
181	DANAOS CORPORATION	DAC	4,012	$360,318	0.05%
182	MORGAN STANLEY	MS-PQ	2,251	$357,183	0.05%
183	ISHARES TR	464287499	3,639	$351,362	0.05%
184	GE VERNOVA INC	GEV	562	$345,581	0.05%
185	FERGUSON ENTERPRISES INC	FERG	1,523	$342,035	0.05%
186	COCA COLA CO	KO	4,931	$325,175	0.04%
187	STEEL DYNAMICS INC	STLD	2,277	$317,482	0.04%
188	XCEL ENERGY INC	XELLL	3,887	$313,830	0.04%
189	DIREXION SHS ETF TR	25459Y207	3,023	$307,155	0.04%
190	LINDE PLC	LIN	636	$302,086	0.04%
191	CIRCLE INTERNET GROUP INC	CRCL	1,768	$300,691	0.04%
192	TRUIST FINL CORP	89832Q109	6,482	$297,043	0.04%
193	MERCK & CO INC	MRK	3,540	$294,779	0.04%
194	SHIFT4 PMTS INC	82452J109	3,780	$292,572	0.04%
195	ISHARES TR	464287879	2,639	$291,808	0.04%
196	S&P GLOBAL INC	SPGI	586	$284,725	0.04%
197	PFIZER INC	PFE	11,040	$283,615	0.04%
198	ETF OPPORTUNITIES TRUST	26923N108	5,661	$279,121	0.04%
199	ADOBE INC	ADBE	781	$276,909	0.04%
200	NETAPP INC	NTAP	2,336	$276,723	0.04%
201	RENASANT CORP	RNST	7,332	$270,477	0.04%
202	WISDOMTREE TR	WT	6,074	$268,896	0.04%
203	AMERICAN CENTY ETF TR	025072877	2,674	$266,631	0.04%
204	PETROLEO BRASILEIRO SA PETRO	71654V408	21,051	$266,506	0.04%
205	ISHARES BITCOIN TRUST ETF	IBIT	4,085	$265,525	0.04%
206	EA SERIES TRUST	02072L615	5,265	$262,834	0.04%
207	AT&T INC	T-PC	9,215	$260,322	0.04%
208	ISHARES TR	46429B747	2,514	$260,101	0.04%
209	EMCOR GROUP INC	EME	396	$257,218	0.04%
210	PRIMORIS SVCS CORP	74164F103	1,872	$257,082	0.04%
211	ARISTA NETWORKS INC	ANET	1,756	$254,555	0.03%
212	SPDR SERIES TRUST	78464A672	8,795	$254,171	0.03%
213	GSK PLC	GLAXF	5,886	$254,040	0.03%
214	ILLINOIS TOOL WKS INC	452308109	967	$252,676	0.03%
215	MOLSON COORS BEVERAGE CO	TAP-A	5,581	$252,540	0.03%
216	NEXTERA ENERGY INC	NEE-PW	3,274	$245,836	0.03%
217	CADENCE DESIGN SYSTEM INC	CDNS	699	$245,179	0.03%
218	DISNEY WALT CO	254687106	2,140	$245,033	0.03%
219	ARES MANAGEMENT CORPORATION	ARES-PB	1,523	$243,512	0.03%
220	MOODYS CORP	MCO	506	$241,575	0.03%
221	FLEXSHARES TR	FLEX	3,818	$240,943	0.03%
222	ETFIS SER TR I	26923G822	11,067	$240,265	0.03%
223	INVESCO EXCHANGE TRADED FD T	IVZ	1,248	$236,688	0.03%
224	DUKE ENERGY CORP NEW	DUKB	1,866	$234,737	0.03%
225	INGERSOLL RAND INC	IR	2,818	$233,319	0.03%
226	EATON CORP PLC	ETN	623	$233,158	0.03%
227	SPDR SERIES TRUST	78464A805	2,880	$232,300	0.03%
228	ISHARES TR	464287622	613	$223,957	0.03%
229	THERMO FISHER SCIENTIFIC INC	TMO	459	$222,624	0.03%
230	STARBUCKS CORP	SBUX	2,624	$221,970	0.03%
231	CHENIERE ENERGY INC	LNG	937	$220,180	0.03%
232	AMERIPRISE FINL INC	03076C106	448	$220,080	0.03%
233	ROCKWELL AUTOMATION INC	ROK	630	$217,757	0.03%
234	BOSTON SCIENTIFIC CORP	BSX	2,216	$216,055	0.03%
235	HEALTHPEAK PROPERTIES INC	DOC	11,189	$214,844	0.03%
236	HONEYWELL INTL INC	438516106	1,008	$213,995	0.03%
237	SERVICENOW INC	NOW	232	$213,505	0.03%
238	ISHARES TR	464287689	562	$212,964	0.03%
239	VANGUARD WORLD FD	92204A306	1,629	$204,971	0.03%
240	COINBASE GLOBAL INC	COIN	603	$203,506	0.03%
241	FIRST TR EXCHNG TRADED FD VI	33740F771	4,359	$202,853	0.03%
242	ISHARES TR	464287234	3,791	$202,422	0.03%
243	LITHIUM AMERS CORP NEW	LTUM	29,554	$168,753	0.02%
244	GRAN TIERRA ENERGY INC	GTE	24,485	$106,510	0.01%
245	FASTLY INC	FSLY	12,112	$103,558	0.01%
246	TORTOISE CAPITAL SERIES TRUS	890930209	11,256	$102,092	0.01%
247	ATAI LIFE SCIENCES NV	N0731H103	11,849	$62,681	0.01%
248	GOPRO INC	GPRO	28,900	$61,268	0.01%