Victory Financial Group, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 15, 2026), Victory Financial Group, LLC reported 315 stock positions worth $794.8 million. Its top holding was iShares Russell Top 200 Grow (IWY) at 15.6% of the portfolio, followed by Schwab US DVD Equity ETF (SCHD, 5.9%) and iShares Morningstar Mid-Cap (IMCG, 4.2%). Compared with Q3 2025, it opened 75 new positions, sold out of 9, added to 165 and reduced 69. The biggest buy was a new position in MFS Active International (MFSI) and the biggest sale First Trust Value Line DVD (FVD, shares −41%).
- Most Recent 13F
- Q2 2026
- Location
- AUSTIN, TX
- CIK
- 0002011333
- Portfolio Value
- $794.8M (Q4 2025)
- SEC Filing
- 0001754960-26-000080 ↗ filed Jan 15, 2026
Holdings Value
Holdings 315 stocks · $794.8M
| IWY iShares Russell Top 200 Grow | 15.63% | 448,535 | $124.2M | Add +1.6% |
| SCHD Schwab US DVD Equity ETF | 5.86% | 1,699,154 | $46.6M | Reduce -12.2% |
| IMCG iShares Morningstar Mid-Cap | 4.23% | 421,283 | $33.6M | Add +2.1% |
| XLK SS Technology Select Sector | 3.65% | 201,261 | $29.0M | Reduce -7.2% |
| FDVV Fidelity High Dividend ETF | 3.47% | 486,346 | $27.6M | Add +6.3% |
| VOO Vanguard S&P 500 ETF | 3.28% | 41,594 | $26.1M | Add +10.9% |
| IVLU iShares MSCI International V | 2.78% | 580,594 | $22.1M | Add +1.1% |
| NVDA Nvidia Corp. | 2.44% | 104,065 | $19.4M | Add +21.9% |
| EVTR Eaton Vance Total Return | 2.37% | 365,463 | $18.8M | Reduce -1.3% |
| IJR iShares Core S&P Small-Cap E | 2.34% | 154,732 | $18.6M | Add +16.5% |
| AAPL Apple Inc. | 1.95% | 57,128 | $15.5M | Add +1.0% |
| FVD First Trust Value Line DVD | 1.92% | 330,977 | $15.3M | Reduce -40.8% |
| PYLD PIMCO Multisector Bond Actv | 1.88% | 558,979 | $14.9M | Add +14.8% |
| SLYG SS SPDR S&P 600 SC GR ETF | 1.77% | 149,750 | $14.1M | Add +9.7% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 1.67% | 62,582 | $13.3M | Reduce -4.6% |
| FBND Fidelity Total Bond ETF | 1.60% | 275,468 | $12.7M | Reduce -0.1% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 1.54% | 133,825 | $12.2M | Add +5.8% |
| MSFT Microsoft Corp. | 1.18% | 19,439 | $9.4M | Add +33.1% |
| SPEM State Street SP PTF Em ETF | 0.84% | 143,193 | $6.7M | Add +24.0% |
| TSLA Tesla Inc. | 0.78% | 13,813 | $6.2M | Reduce -0.4% |
| AMZN Amazon.com Inc. | 0.76% | 26,283 | $6.1M | Add +16.1% |
| VCLT Vanguard Long-Term Corp. Bond | 0.71% | 74,570 | $5.7M | Add +33.3% |
| AVGO Broadcom Inc. | 0.70% | 15,975 | $5.5M | Add +45.9% |
| GOOGL Alphabet Inc. Class A | 0.69% | 17,632 | $5.5M | Add +29.8% |
| VGIT Vanguard Intermediate-Term T | 0.63% | 83,458 | $5.0M | Add +6.5% |
| QQQ Invesco QQQ Trust Series 1 | 0.61% | 7,933 | $4.9M | Add +19.0% |
| VCRB Vanguard Core Bond ETF | 0.58% | 59,346 | $4.6M | Reduce -1.0% |
| META Meta Platforms Inc. Class A | 0.58% | 6,978 | $4.6M | Add +39.2% |
| CGDV Cap Group Dividend Value filed as CAPITAL GROUP DIVIDEND VALUE | 0.58% | 105,415 | $4.6M | Add +80.7% |
| MOAT Vaneck Morningstar Wide Moat | 0.58% | 44,278 | $4.6M | Reduce -52.4% |
| DIVO Amplify CWP Enhan Divid ETF | 0.57% | 102,012 | $4.5M | Reduce -29.2% |
| XLI SS Industrial Select Sector | 0.55% | 28,274 | $4.4M | Add +5.6% |
| XLV SS Health Care Select Sector | 0.55% | 28,280 | $4.4M | Add +8.2% |
| XLC SS Comm Select Sector SPDR | 0.55% | 37,165 | $4.4M | Add +5.1% |
| VYM Vanguard High DVD Yield ETF | 0.51% | 28,413 | $4.1M | Reduce -7.3% |
| AVDV Avantis Intl S/C Value ETF | 0.48% | 40,404 | $3.8M | Add +110.8% |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | 0.46% | 13,221 | $3.7M | Add +29.9% |
| VTI VG Morningstar TS MKT ETF-US | 0.45% | 10,665 | $3.6M | Reduce -4.8% |
| XLF SS Financial Select Sector | 0.44% | 64,498 | $3.5M | Reduce -20.0% |
| FLCC Fed Hermes Large Cap Core | 0.44% | 106,819 | $3.5M | Reduce -29.5% |
| HEQT Simplify Hedged Equity ETF | 0.44% | 108,149 | $3.5M | Reduce -7.5% |
| MDY State Street SPDR S&P Midcap | 0.42% | 5,586 | $3.4M | Reduce -13.1% |
| FPEI First Trust Institutional PR | 0.42% | 173,351 | $3.4M | Add +4.9% |
| SPYG SS SPDR P S&P 500 Growth ETF | 0.39% | 28,874 | $3.1M | Add +19.6% |
| LLY Eli Lilly & Co. | 0.38% | 2,816 | $3.0M | Add +38.6% |
| IJT iShares S&P Small-Cap 600 GR | 0.38% | 21,366 | $3.0M | Reduce -2.7% |
| ARKW ARK Next Generation Technolo | 0.35% | 18,988 | $2.8M | Add +14.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.34% | 5,385 | $2.7M | Add +4.5% |
| GOOG Alphabet Inc. Class C | 0.34% | 8,562 | $2.7M | Add +58.0% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.34% | 3,937 | $2.7M | Add +53.8% |
| MFSI MFS Active International | 0.33% | 85,286 | $2.6M | New |
| IXUS iShares Core Intl Stock ETF | 0.32% | 30,261 | $2.6M | New |
| VWO Vanguard Ftse Emerging Marke | 0.31% | 45,929 | $2.5M | Reduce -31.2% |
| VFMF Vanguard US Multifactor ETF | 0.30% | 15,623 | $2.4M | Reduce -25.8% |
| IEMG iShares Core MSCI Emerging | 0.29% | 34,807 | $2.3M | New |
| VEA Vanguard Ftse Developed ETF | 0.29% | 37,310 | $2.3M | Add +45.9% |
| WFC Wells Fargo & Co. | 0.28% | 24,262 | $2.3M | Add +226.1% |
| TSM Taiwan Semiconductor-SP ADR | 0.28% | 7,290 | $2.2M | Add +42.2% |
| PM Philip Morris International | 0.27% | 13,622 | $2.2M | Add +36.0% |
| QUAL iShares MSCI USA Quality Fac | 0.27% | 10,978 | $2.2M | Add +422.0% |
| BILS SS Spdrb B 3-12M T-Bill ETF | 0.27% | 21,972 | $2.2M | Reduce -8.8% |
| GLD SPDR Gold Shares | 0.27% | 5,442 | $2.2M | Add +33.4% |
| SIO Touchstone Strtg in ETF-Iusd | 0.27% | 82,453 | $2.1M | Add +23.2% |
| GS Goldman Sachs Group Inc. | 0.27% | 2,398 | $2.1M | Add +59.6% |
| HD Home Depot Inc. | 0.26% | 6,072 | $2.1M | Add +29.9% |
| PVAL Putnam Focused LRG Cap Value | 0.26% | 45,177 | $2.1M | New |
| BND Vanguard Total Bond Market | 0.25% | 27,124 | $2.0M | Add +89.6% |
| RPG Invesco S&P 500 Pure Growth | 0.25% | 42,556 | $2.0M | Reduce -7.8% |
| COST Costco Wholesale Corp. | 0.24% | 2,214 | $1.9M | Add +84.0% |
| VOE Vngrd Mrngstr MD-Cap Val ETF | 0.23% | 10,289 | $1.8M | Add +68.7% |
| PLTR Palantir Technologies Inc. Class A | 0.22% | 10,024 | $1.8M | Add +39.4% |
| ABBV Abbvie Inc. | 0.22% | 7,706 | $1.8M | Add +38.5% |
| WMT Walmart Inc. | 0.22% | 15,516 | $1.7M | Add +98.2% |
| SGOV iShares 0-3 Month Treasury B | 0.22% | 17,111 | $1.7M | Reduce -5.0% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.21% | 5,811 | $1.7M | Add +2.1% |
| VONG Vanguard Russell 1000 Growth | 0.21% | 13,788 | $1.7M | Add +16.3% |
| V Visa Inc. Class A | 0.21% | 4,771 | $1.7M | Add +17.8% |
| BUFP Pgim Laddered S&P 500 Buffer | 0.21% | 54,940 | $1.7M | Add +21.2% |
| JPM JPMorgan Chase & Co. | 0.19% | 4,634 | $1.5M | Add +23.0% |
| GBIL Goldman Sachs Access Treasur | 0.19% | 14,862 | $1.5M | Reduce -9.1% |
| TAXX BBLX Irm Tax-Aware S Dur ETF | 0.19% | 29,257 | $1.5M | Add +19.5% |
| TPR Tapestry Inc. | 0.19% | 11,572 | $1.5M | Add +41.9% |
| RDVY First Trust Rising Dividend | 0.18% | 20,475 | $1.4M | Add +22.5% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.18% | 7,427 | $1.4M | Add +3.0% |
| AIQ Global X Art Intel & Tech | 0.17% | 26,037 | $1.3M | New |
| AMD Advanced Micro Devices | 0.17% | 6,150 | $1.3M | Reduce -13.2% |
| UBER Uber Technologies Inc. | 0.17% | 16,102 | $1.3M | Add +44.7% |
| NFLX Netflix Inc. | 0.17% | 13,994 | $1.3M | Add +38.4% |
| SLV iShares Silver Trust | 0.16% | 20,340 | $1.3M | New |
| EFA iShares MSCI Eafe ETF | 0.16% | 13,447 | $1.3M | Reduce -0.5% |
| TXN Texas Instruments Inc. | 0.16% | 7,333 | $1.3M | Reduce -4.3% |
| IYW iShares Ustechnology ETF | 0.15% | 6,100 | $1.2M | New |
| MTG Mgic Investment Corp. | 0.15% | 41,640 | $1.2M | Add +48.8% |
| XOM Exxon Mobil Corp. | 0.15% | 9,815 | $1.2M | Add +14.6% |
| STIP iShares 0-5 Year Tips Bond E | 0.15% | 11,338 | $1.2M | Add +351.0% |
| DFAC Dimensional US Core Equity 2 | 0.14% | 28,814 | $1.1M | New |
| SCHF Schwab Intl Equity ETF | 0.14% | 47,265 | $1.1M | Reduce -1.3% |
| JNJ Johnson & Johnson | 0.14% | 5,434 | $1.1M | Add +25.4% |
| CME Cme Group Inc. | 0.14% | 4,104 | $1.1M | Add +35.8% |
| RSPU Invesco S&P 500 Equal Weight | 0.14% | 14,858 | $1.1M | New |
Options reported separately and not counted above: QQQ calls ($476K), SPY calls ($210K).
Portfolio Sells Q3 2025 → Q4 2025
| FVD First Trust Value Line DVD | Reduce -40.8% | 1.92% | −1.64 |
| SCHD Schwab US DVD Equity ETF | Reduce -12.2% | 5.86% | −1.40 |
| MOAT Vaneck Morningstar Wide Moat | Reduce -52.4% | 0.58% | −0.69 |
| XLK SS Technology Select Sector | Reduce -7.2% | 3.65% | −0.56 |
| XMHQ Invesco S&P Midcap Qual ETF | Reduce -84.9% | 0.07% | −0.48 |
| DIVO Amplify CWP Enhan Divid ETF | Reduce -29.2% | 0.57% | −0.31 |
| EVTR Eaton Vance Total Return | Reduce -1.3% | 2.37% | −0.25 |
| FLCC Fed Hermes Large Cap Core | Reduce -29.5% | 0.44% | −0.23 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Reduce -4.6% | 1.67% | −0.22 |
| VWO Vanguard Ftse Emerging Marke | Reduce -31.2% | 0.31% | −0.19 |
| FBND Fidelity Total Bond ETF | Reduce -0.1% | 1.60% | −0.16 |
| XLF SS Financial Select Sector | Reduce -20.0% | 0.44% | −0.15 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Reduce -60.1% | 0.08% | −0.13 |
| VFMF Vanguard US Multifactor ETF | Reduce -25.8% | 0.30% | −0.12 |
| MDY State Street SPDR S&P Midcap | Reduce -13.1% | 0.42% | −0.10 |
| SOFI Sofi Technologies Inc. | Reduce -41.9% | 0.10% | −0.09 |
| VYM Vanguard High DVD Yield ETF | Reduce -7.3% | 0.51% | −0.08 |
| LMT Lockheed Martin Corp. | Reduce -36.9% | 0.09% | −0.07 |
| HEQT Simplify Hedged Equity ETF | Reduce -7.5% | 0.44% | −0.07 |
| VCRB Vanguard Core Bond ETF | Reduce -1.0% | 0.58% | −0.06 |
| CDE Coeur Mining Inc. | Reduce -36.5% | 0.07% | −0.06 |
| TSLA Tesla Inc. | Reduce -0.4% | 0.78% | −0.06 |
| TME Tencent Music Entertainm-ADR | Reduce -51.5% | 0.03% | −0.06 |
| BILS SS Spdrb B 3-12M T-Bill ETF | Reduce -8.8% | 0.27% | −0.06 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -4.8% | 0.45% | −0.06 |
| PAAA Pgim Aaa Clo ETF | Sold out | 0.00% | −0.06 |
| RPG Invesco S&P 500 Pure Growth | Reduce -7.8% | 0.25% | −0.05 |
| KWEB Kranesh Csi China Internet | Sold out | 0.00% | −0.05 |
| TLT iShares 20+ Year Treasury BD | Reduce -28.6% | 0.07% | −0.05 |
| IJT iShares S&P Small-Cap 600 GR | Reduce -2.7% | 0.38% | −0.05 |
| IDEQ Lazard Intl Dynamic Eqy ETF | Reduce -24.4% | 0.13% | −0.05 |
| CMG Chipotle Mexican Grill Inc. | Reduce -46.4% | 0.04% | −0.05 |
| CRCL Circle Internet Group Inc. | Sold out | 0.00% | −0.04 |
| OXY Occidental Petroleum Corp. | Reduce -6.1% | 0.12% | −0.04 |
| FOUR SHIFT4 Payments Inc. Class A | Sold out | 0.00% | −0.04 |
| GBIL Goldman Sachs Access Treasur | Reduce -9.1% | 0.19% | −0.04 |
| VZ Verizon Communications Inc. | Reduce -27.9% | 0.06% | −0.04 |
| NIO Nio Inc. - ADR | Reduce -50.5% | 0.02% | −0.04 |
| TXN Texas Instruments Inc. | Reduce -4.3% | 0.16% | −0.03 |
| SGOV iShares 0-3 Month Treasury B | Reduce -5.0% | 0.22% | −0.03 |
| NB Niocorp Developments Ltd. | Reduce -13.6% | 0.05% | −0.03 |
| IR Ingersoll-Rand Inc. | Sold out | 0.00% | −0.03 |
| LNG Cheniere Energy Inc. | Sold out | 0.00% | −0.03 |
| HON Honeywell International Inc. | Sold out | 0.00% | −0.03 |
| ZECP Zacks Earnings Consistent Po | Reduce -18.1% | 0.10% | −0.03 |
| DKNG Draftkings Inc. Class A | Reduce -34.3% | 0.03% | −0.03 |
| COIN Coinbase Global Inc. Class A | Sold out | 0.00% | −0.03 |
| DFEB FT Vest U.S. Equity Deep Buf | Sold out | 0.00% | −0.03 |
| PDD PDD Holdings Inc. | Reduce -33.3% | 0.03% | −0.02 |
| IEFA iShares Core MSCI Eafe ETF | Reduce -10.3% | 0.13% | −0.02 |
Portfolio Buys Q3 2025 → Q4 2025
| MFSI MFS Active International | New | 0.33% | +0.33 |
| IXUS iShares Core Intl Stock ETF | New | 0.32% | +0.32 |
| IEMG iShares Core MSCI Emerging | New | 0.29% | +0.29 |
| PVAL Putnam Focused LRG Cap Value | New | 0.26% | +0.26 |
| NVDA Nvidia Corp. | Add +21.9% | 2.44% | +0.25 |
| AVDV Avantis Intl S/C Value ETF | Add +110.8% | 0.48% | +0.24 |
| CGDV Cap Group Dividend Value | Add +80.7% | 0.58% | +0.24 |
| GOOGL Alphabet Inc. Class A | Add +29.8% | 0.69% | +0.24 |
| QUAL iShares MSCI USA Quality Fac | Add +422.0% | 0.27% | +0.22 |
| AVGO Broadcom Inc. | Add +45.9% | 0.70% | +0.20 |
| WFC Wells Fargo & Co. | Add +226.1% | 0.28% | +0.20 |
| IJR iShares Core S&P Small-Cap E | Add +16.5% | 2.34% | +0.17 |
| LLY Eli Lilly & Co. | Add +38.6% | 0.38% | +0.17 |
| AIQ Global X Art Intel & Tech | New | 0.17% | +0.17 |
| SLV iShares Silver Trust | New | 0.16% | +0.16 |
| GOOG Alphabet Inc. Class C | Add +58.0% | 0.34% | +0.16 |
| IYW iShares Ustechnology ETF | New | 0.15% | +0.15 |
| DFAC Dimensional US Core Equity 2 | New | 0.14% | +0.14 |
| MSFT Microsoft Corp. | Add +33.1% | 1.18% | +0.14 |
| RSPU Invesco S&P 500 Equal Weight | New | 0.14% | +0.14 |
| ETHA iShares Ethereum Trust ETF | New | 0.13% | +0.13 |
| IWP iShares Russell Mid-Cap Grow | New | 0.12% | +0.12 |
| VOO Vanguard S&P 500 ETF | Add +10.9% | 3.28% | +0.12 |
| SCZ iShares MSCI Eafe Small-Cap | New | 0.12% | +0.12 |
| VCLT Vanguard Long-Term Corp. Bond | Add +33.3% | 0.71% | +0.11 |
| STIP iShares 0-5 Year Tips Bond E | Add +351.0% | 0.15% | +0.11 |
| WMT Walmart Inc. | Add +98.2% | 0.22% | +0.11 |
| BND Vanguard Total Bond Market | Add +89.6% | 0.25% | +0.11 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +53.8% | 0.34% | +0.10 |
| GS Goldman Sachs Group Inc. | Add +59.6% | 0.27% | +0.10 |
| SPEM State Street SP PTF Em ETF | Add +24.0% | 0.84% | +0.10 |
| TEM Tempus AI Inc. Class A | New | 0.09% | +0.09 |
| AMZN Amazon.com Inc. | Add +16.1% | 0.76% | +0.09 |
| COST Costco Wholesale Corp. | Add +84.0% | 0.24% | +0.09 |
| VOE Vngrd Mrngstr MD-Cap Val ETF | Add +68.7% | 0.23% | +0.08 |
| VEA Vanguard Ftse Developed ETF | Add +45.9% | 0.29% | +0.08 |
| TSM Taiwan Semiconductor-SP ADR | Add +42.2% | 0.28% | +0.08 |
| LI Li Auto Inc. - ADR | New | 0.08% | +0.08 |
| PYLD PIMCO Multisector Bond Actv | Add +14.8% | 1.88% | +0.08 |
| META Meta Platforms Inc. Class A | Add +39.2% | 0.58% | +0.07 |
| QUIZ Zacks QLTY Inter'l Fund | New | 0.07% | +0.07 |
| GLD SPDR Gold Shares | Add +33.4% | 0.27% | +0.07 |
| SNOW Snowflake Inc. | New | 0.07% | +0.07 |
| SMR Nuscale Power Corp. | New | 0.07% | +0.07 |
| AVUV Avantis US Small Cap Value | Add +210.0% | 0.11% | +0.07 |
| DFSD Dimensional Short Duration | New | 0.07% | +0.07 |
| QQQ Invesco QQQ Trust Series 1 | Add +19.0% | 0.61% | +0.06 |
| TPR Tapestry Inc. | Add +41.9% | 0.19% | +0.06 |
| IBIT iShares Bitcoin Trust ETF | Add +251.8% | 0.09% | +0.05 |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | Add +29.9% | 0.46% | +0.05 |
Options Activity Q3 2025 → Q4 2025
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
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 |