Victory Financial Group, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Victory Financial Group, LLC reported 248 stock positions worth $727.3 million. Its top holding was iShares Russell Top 200 Grow (IWY) at 16.6% of the portfolio, followed by Schwab US DVD Equity ETF (SCHD, 7.3%) and iShares Morningstar Mid-Cap (IMCG, 4.7%). Compared with Q2 2025, it opened 47 new positions, sold out of 29, added to 107 and reduced 86. The biggest buy was a new position in iShares MSCI International V (IVLU) and the biggest sale Xtrackers MSCI Eafe Hedged E (DBEF, shares −94%).
- Most Recent 13F
- Q2 2026
- Location
- AUSTIN, TX
- CIK
- 0002011333
- Portfolio Value
- $727.3M (Q3 2025)
- SEC Filing
- 0001754960-25-000796 ↗ filed Nov 14, 2025
Holdings Value
Holdings 248 stocks · $727.3M
| IWY iShares Russell Top 200 Grow | 16.62% | 441,664 | $120.9M | Reduce -1.3% |
| SCHD Schwab US DVD Equity ETF | 7.27% | 1,934,809 | $52.8M | Add +6.5% |
| IMCG iShares Morningstar Mid-Cap | 4.69% | 412,461 | $34.1M | Add +6.5% |
| XLK SS Technology Select Sector | 4.20% | 108,419 | $30.6M | Add +1.5% |
| FVD First Trust Value Line DVD | 3.56% | 559,077 | $25.9M | Add +8.0% |
| FDVV Fidelity High Dividend ETF | 3.51% | 457,386 | $25.5M | Add +1.6% |
| VOO Vanguard S&P 500 ETF | 3.16% | 37,520 | $23.0M | Add +24.0% |
| IVLU iShares MSCI International V | 2.81% | 574,388 | $20.4M | New |
| EVTR Eaton Vance Total Return | 2.62% | 370,192 | $19.1M | Add +10.9% |
| NVDA Nvidia Corp. | 2.19% | 85,363 | $15.9M | Add +11.7% |
| IJR iShares Core S&P Small-Cap E | 2.17% | 132,802 | $15.8M | Reduce -1.0% |
| AAPL Apple Inc. | 1.98% | 56,558 | $14.4M | Add +16.7% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 1.88% | 65,592 | $13.7M | Add +7.0% |
| PYLD PIMCO Multisector Bond Actv | 1.80% | 486,801 | $13.1M | Add +14.6% |
| SLYG SS SPDR S&P 600 SC GR ETF | 1.77% | 136,550 | $12.9M | Add +19.9% |
| FBND Fidelity Total Bond ETF | 1.76% | 275,827 | $12.8M | Add +14.9% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 1.60% | 126,538 | $11.7M | Reduce -28.4% |
| MOAT Vaneck Morningstar Wide Moat | 1.27% | 92,926 | $9.2M | Reduce -2.0% |
| MSFT Microsoft Corp. | 1.04% | 14,601 | $7.6M | Add +11.1% |
| DIVO Amplify CWP Enhan Divid ETF | 0.88% | 144,161 | $6.4M | Add +4.2% |
| TSLA Tesla Inc. | 0.84% | 13,865 | $6.1M | Add +47.4% |
| SPEM State Street SP PTF Em ETF | 0.74% | 115,511 | $5.4M | Add +0.4% |
| AMZN Amazon.com Inc. | 0.67% | 22,647 | $4.9M | Add +23.1% |
| FLCC Fed Hermes Large Cap Core | 0.67% | 151,531 | $4.9M | Add +1.4% |
| VGIT Vanguard Intermediate-Term T | 0.65% | 78,335 | $4.7M | Add +12.4% |
| VCRB Vanguard Core Bond ETF | 0.65% | 59,929 | $4.7M | Add +2.2% |
| XLF SS Financial Select Sector | 0.60% | 80,666 | $4.3M | Add +4.6% |
| VCLT Vanguard Long-Term Corp. Bond | 0.60% | 55,952 | $4.3M | Reduce -3.5% |
| VYM Vanguard High DVD Yield ETF | 0.59% | 30,660 | $4.3M | Add +15.2% |
| XLC SS Comm Select Sector SPDR | 0.58% | 35,364 | $4.2M | Reduce -2.3% |
| XLI SS Industrial Select Sector | 0.57% | 26,774 | $4.1M | Add +2.6% |
| XMHQ Invesco S&P Midcap Qual ETF | 0.55% | 38,252 | $4.0M | Reduce -0.4% |
| QQQ Invesco QQQ Trust Series 1 | 0.55% | 6,666 | $4.0M | Add +46.0% |
| MDY State Street SPDR S&P Midcap | 0.53% | 6,428 | $3.8M | Reduce -19.1% |
| META Meta Platforms Inc. Class A | 0.51% | 5,012 | $3.7M | Add +26.3% |
| VTI VG Morningstar TS MKT ETF-US | 0.51% | 11,205 | $3.7M | Reduce -8.7% |
| HEQT Simplify Hedged Equity ETF | 0.50% | 116,980 | $3.7M | Add +1.5% |
| XLV SS Health Care Select Sector | 0.50% | 26,144 | $3.6M | Add +34.3% |
| VWO Vanguard Ftse Emerging Marke | 0.50% | 66,724 | $3.6M | Reduce -24.0% |
| AVGO Broadcom Inc. | 0.50% | 10,947 | $3.6M | Add +12.3% |
| GOOGL Alphabet Inc. Class A | 0.45% | 13,584 | $3.3M | Add +0.9% |
| FPEI First Trust Institutional PR | 0.44% | 165,222 | $3.2M | Add +12.0% |
| IJT iShares S&P Small-Cap 600 GR | 0.43% | 21,951 | $3.1M | Reduce -3.5% |
| VFMF Vanguard US Multifactor ETF | 0.42% | 21,058 | $3.0M | Add +1.2% |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | 0.41% | 10,176 | $3.0M | Reduce -2.2% |
| ARKW ARK Next Generation Technolo | 0.40% | 16,616 | $2.9M | New |
| SPYG SS SPDR P S&P 500 Growth ETF | 0.36% | 24,150 | $2.7M | Add +99.7% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.36% | 5,152 | $2.6M | Reduce -6.0% |
| CGDV Cap Group Dividend Value filed as CAPITAL GROUP DIVIDEND VALUE | 0.34% | 58,328 | $2.5M | Add +165.2% |
| BILS SS Spdrb B 3-12M T-Bill ETF | 0.33% | 24,085 | $2.4M | Reduce -4.8% |
| RPG Invesco S&P 500 Pure Growth | 0.30% | 46,129 | $2.2M | Reduce -1.6% |
| HD Home Depot Inc. | 0.26% | 4,673 | $1.9M | Add +46.9% |
| SGOV iShares 0-3 Month Treasury B | 0.25% | 18,002 | $1.8M | Reduce -4.6% |
| SIO Touchstone Strtg in ETF-Iusd | 0.24% | 66,925 | $1.8M | Add +12.3% |
| AVDV Avantis Intl S/C Value ETF | 0.23% | 19,166 | $1.7M | Add +283.2% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.23% | 2,560 | $1.7M | Add +93.3% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.23% | 5,692 | $1.7M | Reduce -7.4% |
| GBIL Goldman Sachs Access Treasur | 0.23% | 16,351 | $1.6M | Add +6.2% |
| PM Philip Morris International | 0.22% | 10,015 | $1.6M | Add +2.2% |
| LLY Eli Lilly & Co. | 0.21% | 2,031 | $1.6M | Add +60.0% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 0.21% | 19,120 | $1.5M | Reduce -55.1% |
| VEA Vanguard Ftse Developed ETF | 0.21% | 25,580 | $1.5M | Add +2.4% |
| GLD SPDR Gold Shares | 0.20% | 4,080 | $1.5M | Add +232.5% |
| TSM Taiwan Semiconductor-SP ADR | 0.20% | 5,127 | $1.4M | Add +9.0% |
| VONG Vanguard Russell 1000 Growth | 0.20% | 11,860 | $1.4M | Add +26.5% |
| TXN Texas Instruments Inc. | 0.19% | 7,663 | $1.4M | Reduce -6.1% |
| SOFI Sofi Technologies Inc. | 0.19% | 53,486 | $1.4M | New |
| V Visa Inc. Class A | 0.19% | 4,050 | $1.4M | Add +1.2% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.18% | 7,209 | $1.3M | Reduce -5.1% |
| BUFP Pgim Laddered S&P 500 Buffer | 0.18% | 45,315 | $1.3M | New |
| GOOG Alphabet Inc. Class C | 0.18% | 5,420 | $1.3M | Add +17.5% |
| IDEQ Lazard Intl Dynamic Eqy ETF | 0.18% | 46,422 | $1.3M | Add +181.9% |
| PLTR Palantir Technologies Inc. Class A | 0.18% | 7,190 | $1.3M | Add +59.7% |
| ABBV Abbvie Inc. | 0.18% | 5,565 | $1.3M | Add +3.7% |
| EFA iShares MSCI Eafe ETF | 0.17% | 13,510 | $1.3M | Reduce -4.3% |
| TAXX BBLX Irm Tax-Aware S Dur ETF | 0.17% | 24,479 | $1.2M | Add +18.4% |
| LMT Lockheed Martin Corp. | 0.17% | 2,446 | $1.2M | Add +297.7% |
| NFLX Netflix Inc. | 0.17% | 1,011 | $1.2M | Add +40.4% |
| AMD Advanced Micro Devices | 0.17% | 7,081 | $1.2M | Add +4.9% |
| GS Goldman Sachs Group Inc. | 0.16% | 1,502 | $1.2M | Add +74.5% |
| JPM JPMorgan Chase & Co. | 0.16% | 3,768 | $1.2M | Reduce -12.1% |
| OXY Occidental Petroleum Corp. | 0.16% | 24,553 | $1.2M | Reduce -1.2% |
| UBER Uber Technologies Inc. | 0.16% | 11,130 | $1.1M | Add +237.2% |
| RDVY First Trust Rising Dividend | 0.15% | 16,715 | $1.1M | Add +40.5% |
| SCHF Schwab Intl Equity ETF | 0.15% | 47,887 | $1.1M | New |
| COST Costco Wholesale Corp. | 0.15% | 1,203 | $1.1M | Add +157.6% |
| MAGS Roundhill Magnificent Seven | 0.15% | 16,900 | $1.1M | Reduce -17.0% |
| IEFA iShares Core MSCI Eafe ETF | 0.15% | 12,509 | $1.1M | Add +17.6% |
| VOE Vngrd Mrngstr MD-Cap Val ETF | 0.15% | 6,100 | $1.1M | Reduce -5.0% |
| BND Vanguard Total Bond Market | 0.15% | 14,303 | $1.1M | New |
| IDV iShares International Select | 0.14% | 28,469 | $1.0M | New |
| SCHX Schwab US Large-Cap ETF | 0.14% | 39,237 | $1.0M | Add +8.8% |
| CDE Coeur Mining Inc. | 0.14% | 52,619 | $1.0M | New |
| UNH Unitedhealth Group Inc. | 0.14% | 2,914 | $1.0M | Reduce -34.0% |
| POWL Powell Industries Inc. | 0.14% | 3,296 | $1.0M | No change |
| ORCL Oracle Corp. | 0.14% | 3,501 | $987K | Add +4.3% |
| XOM Exxon Mobil Corp. | 0.13% | 8,566 | $966K | Add +11.7% |
| IWF iShares Russell 1000 Growth | 0.13% | 2,050 | $960K | Reduce -2.0% |
| ZECP Zacks Earnings Consistent Po | 0.13% | 27,522 | $925K | New |
| TPR Tapestry Inc. | 0.13% | 8,158 | $924K | Add +3.0% |
Portfolio Sells Q2 2025 → Q3 2025
| DBEF Xtrackers MSCI Eafe Hedged E | Reduce -93.6% | 0.11% | −2.41 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -28.4% | 1.60% | −0.97 |
| IWY iShares Russell Top 200 Grow | Reduce -1.3% | 16.62% | −0.88 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Reduce -55.1% | 0.21% | −0.33 |
| GOCT FT Vest US Equity Moderate B | Sold out | 0.00% | −0.26 |
| VWO Vanguard Ftse Emerging Marke | Reduce -24.0% | 0.50% | −0.19 |
| MDY State Street SPDR S&P Midcap | Reduce -19.1% | 0.53% | −0.19 |
| IJR iShares Core S&P Small-Cap E | Reduce -1.0% | 2.17% | −0.16 |
| MOAT Vaneck Morningstar Wide Moat | Reduce -2.0% | 1.27% | −0.15 |
| JD Jd.com Inc.-ADR | Sold out | 0.00% | −0.14 |
| MPC Marathon Petroleum Corp. | Reduce -67.1% | 0.06% | −0.13 |
| BCI Abrdn Bloomberg All Commodit | Sold out | 0.00% | −0.13 |
| SCHH Schwab US REIT ETF | Sold out | 0.00% | −0.11 |
| VCLT Vanguard Long-Term Corp. Bond | Reduce -3.5% | 0.60% | −0.10 |
| MBB iShares MBS ETF | Sold out | 0.00% | −0.09 |
| VCIT Vanguard Int-Term Corporate | Sold out | 0.00% | −0.09 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -8.7% | 0.51% | −0.09 |
| UNH Unitedhealth Group Inc. | Reduce -34.0% | 0.14% | −0.08 |
| TXN Texas Instruments Inc. | Reduce -6.1% | 0.19% | −0.08 |
| SSB Southstate Bank Corp. | Sold out | 0.00% | −0.07 |
| BILS SS Spdrb B 3-12M T-Bill ETF | Reduce -4.8% | 0.33% | −0.07 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -6.0% | 0.36% | −0.07 |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | Reduce -2.2% | 0.41% | −0.06 |
| EMB iShares JP Morgan Usd Emergi | Sold out | 0.00% | −0.06 |
| BSY Bentley Systems Inc. Class B | Sold out | 0.00% | −0.05 |
| IJT iShares S&P Small-Cap 600 GR | Reduce -3.5% | 0.43% | −0.05 |
| SGOV iShares 0-3 Month Treasury B | Reduce -4.6% | 0.25% | −0.05 |
| XLC SS Comm Select Sector SPDR | Reduce -2.3% | 0.58% | −0.05 |
| XMHQ Invesco S&P Midcap Qual ETF | Reduce -0.4% | 0.55% | −0.05 |
| CSCO Cisco Systems Inc. | Sold out | 0.00% | −0.05 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Reduce -7.4% | 0.23% | −0.04 |
| ACN Accenture PLC Class A | Reduce -16.0% | 0.07% | −0.04 |
| IWM iShares Russell 2000 ETF | Reduce -29.7% | 0.09% | −0.04 |
| USMV iShares MSCI USA Min Vol Fac | Sold out | 0.00% | −0.04 |
| MSTR Strategy Inc. | Sold out | 0.00% | −0.04 |
| SPYV SS SPDR P S&P 500 Value ETF | Sold out | 0.00% | −0.04 |
| INTU Intuit Inc. | Sold out | 0.00% | −0.04 |
| WMT Walmart Inc. | Reduce -18.7% | 0.11% | −0.04 |
| RPG Invesco S&P 500 Pure Growth | Reduce -1.6% | 0.30% | −0.04 |
| QCOM Qualcomm Inc. | Sold out | 0.00% | −0.04 |
| VCSH Vanguard S/T Corp. Bond ETF | Sold out | 0.00% | −0.04 |
| ABT Abbott Laboratories | Sold out | 0.00% | −0.04 |
| USHY iShares Broad Usd High Yield | Sold out | 0.00% | −0.04 |
| VGSH Vanguard Short-Term Treasury | Sold out | 0.00% | −0.04 |
| IEMG iShares Core MSCI Emerging | Sold out | 0.00% | −0.04 |
| IWL iShares Russell Top 200 ETF | Sold out | 0.00% | −0.04 |
| TT Trane Technologies PLC | Sold out | 0.00% | −0.03 |
| JPM JPMorgan Chase & Co. | Reduce -12.1% | 0.16% | −0.03 |
| ARM Arm Holdings PLC-ADR | Sold out | 0.00% | −0.03 |
| SPOT Spotify Technology SA | Sold out | 0.00% | −0.03 |
Portfolio Buys Q2 2025 → Q3 2025
| IVLU iShares MSCI International V | New | 2.81% | +2.81 |
| VOO Vanguard S&P 500 ETF | Add +24.0% | 3.16% | +0.43 |
| AAPL Apple Inc. | Add +16.7% | 1.98% | +0.40 |
| ARKW ARK Next Generation Technolo | New | 0.40% | +0.40 |
| TSLA Tesla Inc. | Add +47.4% | 0.84% | +0.37 |
| NVDA Nvidia Corp. | Add +11.7% | 2.19% | +0.27 |
| CGDV Cap Group Dividend Value | Add +165.2% | 0.34% | +0.20 |
| SOFI Sofi Technologies Inc. | New | 0.19% | +0.19 |
| BUFP Pgim Laddered S&P 500 Buffer | New | 0.18% | +0.18 |
| SPYG SS SPDR P S&P 500 Growth ETF | Add +99.7% | 0.36% | +0.18 |
| AVDV Avantis Intl S/C Value ETF | Add +283.2% | 0.23% | +0.17 |
| SLYG SS SPDR S&P 600 SC GR ETF | Add +19.9% | 1.77% | +0.17 |
| SCHF Schwab Intl Equity ETF | New | 0.15% | +0.15 |
| QQQ Invesco QQQ Trust Series 1 | Add +46.0% | 0.55% | +0.15 |
| BND Vanguard Total Bond Market | New | 0.15% | +0.15 |
| IDV iShares International Select | New | 0.14% | +0.14 |
| GLD SPDR Gold Shares | Add +232.5% | 0.20% | +0.14 |
| CDE Coeur Mining Inc. | New | 0.14% | +0.14 |
| ZECP Zacks Earnings Consistent Po | New | 0.13% | +0.13 |
| LMT Lockheed Martin Corp. | Add +297.7% | 0.17% | +0.12 |
| IDEQ Lazard Intl Dynamic Eqy ETF | Add +181.9% | 0.18% | +0.11 |
| UBER Uber Technologies Inc. | Add +237.2% | 0.16% | +0.11 |
| QLC NT US Qual LC ETF | New | 0.11% | +0.11 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +93.3% | 0.23% | +0.10 |
| GROZ Zacks Focus Growth ETF | New | 0.10% | +0.10 |
| TILT NT Mstar US Ftilt ETF | New | 0.09% | +0.09 |
| TLTD NT Dev Exus Ftilt ETF | New | 0.09% | +0.09 |
| HOOD Robinhood Markets Inc. Class A | New | 0.09% | +0.09 |
| XLV SS Health Care Select Sector | Add +34.3% | 0.50% | +0.08 |
| CMG Chipotle Mexican Grill Inc. | New | 0.08% | +0.08 |
| TME Tencent Music Entertainm-ADR | New | 0.08% | +0.08 |
| PLTR Palantir Technologies Inc. Class A | Add +59.7% | 0.18% | +0.08 |
| NB Niocorp Developments Ltd. | New | 0.08% | +0.08 |
| COST Costco Wholesale Corp. | Add +157.6% | 0.15% | +0.08 |
| BABA Alibaba Group Holding-SP ADR | New | 0.08% | +0.08 |
| GOOGL Alphabet Inc. Class A | Add +0.9% | 0.45% | +0.08 |
| SMIZ Zacks Small/Mid Cap ETF | New | 0.08% | +0.08 |
| HD Home Depot Inc. | Add +46.9% | 0.26% | +0.08 |
| AVGO Broadcom Inc. | Add +12.3% | 0.50% | +0.07 |
| SMH Vaneck Semiconductor ETF | New | 0.07% | +0.07 |
| GS Goldman Sachs Group Inc. | Add +74.5% | 0.16% | +0.07 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +210.7% | 0.10% | +0.06 |
| DKNG Draftkings Inc. Class A | New | 0.06% | +0.06 |
| LLY Eli Lilly & Co. | Add +60.0% | 0.21% | +0.06 |
| PAAA Pgim Aaa Clo ETF | New | 0.06% | +0.06 |
| TLT iShares 20+ Year Treasury BD | Add +95.6% | 0.12% | +0.05 |
| PANW Palo Alto Networks Inc. | Add +150.0% | 0.10% | +0.05 |
| APLD Applied Digital Corp. | New | 0.05% | +0.05 |
| GOOG Alphabet Inc. Class C | Add +17.5% | 0.18% | +0.05 |
| PDD PDD Holdings Inc. | New | 0.05% | +0.05 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 397 | $951.8M | IWY, SCHD, IMCG, XLK, FDVV |
| Q1 2026 | 347 | $813.9M | IWY, SCHD, IMCG, FDVV, VOO |
| Q4 2025 | 315 | $794.8M | IWY, SCHD, IMCG, XLK, FDVV |
| Q3 2025 | 248 | $727.3M | IWY, SCHD, IMCG, XLK, FVD |
| Q2 2025 | 230 | $630.1M | IWY, SCHD, IMCG, XLK, FDVV |
| Q1 2025 | 185 | $521.1M | IWY, SCHD, IMCG, FVD, FDVV |
| Q4 2024 | 138 | $380.5M | IWY, SCHD, IMCG, FVD, VOO |
| Q2 2024 | 78 | $213.7M | IWY, SCHD, IMCG, FVD, VOO |
| Q1 2024 | 60 | $168.9M | SCHD, IWY, IMCG, FVD, XLK |