Institutional Manager · CIK 0002011333
VICTORY FINANCIAL GROUP, LLC
AUSTIN, TX · File #028-23753
Latest AUM
$795.5M
Positions
317
Top-10 Concentration
60.3%
Filings
7
Portfolio Value Over Time
2024-03
2024-06
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 | INVESCO QQQ TR | IVZ | -6,637 | -$108.9M | +$105.4M |
| REDUCE | SPDR S&P 500 ETF TR | SPY | -2,547 | -$41.1M | +$39.6M |
| ADD | SELECT SECTOR SPDR TR | 81369Y803 | +92,842 | +$13.4M | -$15.0M |
| REDUCE | FIRST TR EXCHANGE-TRADED FD | 33734H106 | -228,100 | -$10.5M | -$103,849 |
| REDUCE | SCHWAB STRATEGIC TR | 808524797 | -235,655 | -$6.5M | +$229,160 |
| REDUCE | VANECK ETF TRUST | 92189F643 | -48,648 | -$5.0M | +$413,504 |
| ADD | NVIDIA CORPORATION | NVDA | +18,702 | +$3.5M | -$6,023 |
| REDUCE | INVESCO EXCHANGE TRADED FD T | IVZ | -32,481 | -$3.3M | -$97,159 |
| ADD | ISHARES TR | 464287804 | +21,930 | +$2.6M | +$162,459 |
| NEW | MFS ACTIVE EXCHANGE TRADED F | 55286W405 | +85,286 | +$2.6M | $0 |
Sector Allocation
Filing History
- 13F HOLDINGS REPORTQ/E Dec 2025317 pos · $795.5M
- 13F HOLDINGS REPORTQ/E Sep 2025248 pos · $727.3M
- 13F HOLDINGS REPORTQ/E Jun 2025230 pos · $630.1M
- 13F HOLDINGS REPORTQ/E Mar 2025185 pos · $521.1M
- 13F HOLDINGS REPORTQ/E Dec 2024138 pos · $380.5M
- 13F HOLDINGS REPORTQ/E Jun 202478 pos · $213.7M
- 13F HOLDINGS REPORTQ/E Mar 202460 pos · $168.9M
Top 20 Holdings — Dec 2025
| # | Issuer | Ticker | Shares | Value | % of Portfolio |
|---|---|---|---|---|---|
| 1 | ISHARES TR | 464289438 | 448,535 | $124.2M | 20.45% |
| 2 | SCHWAB STRATEGIC TR | 808524797 | 1,699,154 | $46.6M | 7.67% |
| 3 | ISHARES TR | 464288307 | 421,283 | $33.6M | 5.54% |
| 4 | SELECT SECTOR SPDR TR | 81369Y803 | 201,261 | $29.0M | 4.77% |
| 5 | FIDELITY COVINGTON TRUST | 316092840 | 486,346 | $27.6M | 4.54% |
| 6 | VANGUARD INDEX FDS | 922908363 | 41,594 | $26.1M | 4.29% |
| 7 | ISHARES TR | 46435G409 | 580,594 | $22.1M | 3.64% |
| 8 | NVIDIA CORPORATION | NVDA | 104,065 | $19.4M | 3.20% |
| 9 | MORGAN STANLEY ETF TRUST | MS-PQ | 365,463 | $18.8M | 3.10% |
| 10 | ISHARES TR | 464287804 | 154,732 | $18.6M | 3.06% |
| 11 | APPLE INC | AAPL | 57,128 | $15.5M | 2.56% |
| 12 | FIRST TR EXCHANGE-TRADED FD | 33734H106 | 330,977 | $15.3M | 2.51% |
| 13 | PIMCO ETF TR | 72201R585 | 558,979 | $14.9M | 2.46% |
| 14 | SPDR SERIES TRUST | 78464A201 | 149,750 | $14.1M | 2.32% |
| 15 | VANGUARD INDEX FDS | 922908611 | 62,582 | $13.3M | 2.18% |
| 16 | FIDELITY MERRIMACK STR TR | 316188309 | 275,468 | $12.7M | 2.09% |
| 17 | SPDR SERIES TRUST | 78468R663 | 133,825 | $12.2M | 2.01% |
| 18 | MICROSOFT CORP | MSFT | 19,439 | $9.4M | 1.55% |
| 19 | SPDR INDEX SHS FDS | 78463X509 | 143,193 | $6.7M | 1.10% |
| 20 | TESLA INC | TSLA | 13,813 | $6.2M | 1.02% |