Institutional Manager · CIK 0001621225

Merit Financial Group, LLC

ALPHARETTA, GA · File #028-18446

Latest AUM

$12.61B

Positions

27,856

Top-10 Concentration

39.1%

Filings

Portfolio Value Over Time

2024-03

2024-06

2024-09

2024-12

2025-03

2025-06

2025-09

2025-12

Biggest QoQ Changes

Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.

Action	Issuer	Ticker / CUSIP	Δ Shares	Flow ($)	Price Effect
REDUCE	MICROSOFT CORP	MSFT	-334,730	-$161.9M	-$11.5M
ADD	NVIDIA CORPORATION	NVDA	+726,695	+$135.5M	+$1.9M
ADD	VANGUARD WORLD FD	921910840	+422,161	+$59.6M	+$2.8M
REDUCE	ISHARES TR	46432F339	-235,741	-$46.8M	+$2.9M
ADD	ISHARES INC	46434G103	+649,542	+$43.7M	+$2.5M
ADD	VANGUARD WORLD FD	921910816	+89,680	+$37.0M	+$5.6M
ADD	ISHARES TR	46432F396	+142,414	+$35.6M	-$986,284
ADD	ISHARES TR	464287671	+208,899	+$35.1M	+$4.8M
REDUCE	VANGUARD INDEX FDS	922908769	-93,642	-$31.4M	+$2.8M
ADD	ISHARES TR	46436E841	+1,146,792	+$25.8M	-$1,141

Sector Allocation

8.5%$1.06B

8.4%$1.05B

2.8%$355.0M

2.7%$333.0M

Consumer Discretionary

2.6%$329.4M

Consumer Staples

1.0%$129.1M

Communication Services

1.0%$122.6M

0.8%$106.5M

0.6%$76.6M

0.4%$50.2M

0.3%$37.4M

Filing History

Jan 26, 202613F HOLDINGS REPORTQ/E Dec 202527,856 pos · $12.61B
Nov 7, 202513F HOLDINGS REPORT (Amended)Q/E Sep 20256,380 pos · $10.89B
Oct 20, 202513F HOLDINGS REPORTQ/E Sep 20251,800 pos · $10.89B
Jul 22, 202513F HOLDINGS REPORTQ/E Jun 20251,708 pos · $8.97B
Apr 9, 202513F HOLDINGS REPORTQ/E Mar 20251,411 pos · $6.68B
Jan 15, 202513F HOLDINGS REPORTQ/E Dec 20241,152 pos · $5.57B
Oct 17, 202413F HOLDINGS REPORTQ/E Sep 2024831 pos · $4.47B
Aug 13, 202413F HOLDINGS REPORTQ/E Jun 2024914 pos · $4.54B
May 6, 202413F HOLDINGS REPORTQ/E Mar 2024888 pos · $4.14B
Nov 7, 202313F HOLDINGS REPORTQ/E Dec 2023740 pos · $3.06B

Top 20 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	VANGUARD INDEX FDS	922908736	810,794	$395.6M	6.40%
2	GMO ETF TRUST	90139K100	7,481,446	$287.7M	4.66%
3	ISHARES TR	464287671	1,621,137	$272.3M	4.41%
4	ISHARES TR	464287663	2,590,945	$265.7M	4.30%
5	VANGUARD WORLD FD	921910816	628,710	$259.5M	4.20%
6	APPLE INC	AAPL	752,194	$204.5M	3.31%
7	ISHARES TR	464287200	282,704	$193.6M	3.13%
8	VANGUARD INDEX FDS	922908744	963,817	$184.1M	2.98%
9	VANGUARD WORLD FD	921910840	1,254,151	$177.0M	2.86%
10	BLACKROCK ETF TRUST	BLK	2,907,938	$176.8M	2.86%
11	ISHARES INC	46434G103	2,576,533	$173.2M	2.80%
12	VANGUARD INDEX FDS	922908363	267,594	$167.8M	2.72%
13	SPDR SERIES TRUST	78464A672	5,755,742	$166.0M	2.69%
14	ISHARES TR	464288877	2,263,003	$161.6M	2.62%
15	MICROSOFT CORP	MSFT	302,430	$146.3M	2.37%
16	AMERICAN CENTY ETF TR	025072174	1,943,664	$142.9M	2.31%
17	NVIDIA CORPORATION	NVDA	736,695	$137.4M	2.22%
18	VICTORY PORTFOLIOS II	92647N535	2,598,595	$132.1M	2.14%
19	VICTORY PORTFOLIOS II	92647X863	5,819,285	$128.0M	2.07%
20	ISHARES TR	464288588	1,270,530	$121.0M	1.96%