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Victory Portfolios II VictoryShares Short-Term Bond ETF
USTB

133 hedge funds and large institutions have $1.3B invested in Victory Portfolios II VictoryShares Short-Term Bond ETF in 2025 Q4 according to their latest regulatory filings, with 19 funds opening new positions, 74 increasing their positions, 29 reducing their positions, and 13 closing their positions.

New
Increased
Maintained
Reduced
Closed

155% more repeat investments, than reductions

Existing positions increased: 74 | Existing positions reduced: 29

46% more first-time investments, than exits

New positions opened: 19 | Existing positions closed: 13

7% more capital invested

Capital invested by funds: $1.21B → $1.3B (+$89.8M)

3% more funds holding

Funds holding: 129 → 133 (+4)

1.66% less ownership

Funds ownership: 76.92% → 75.25% (-1.7%)

9% less funds holding in top 10

Funds holding in top 10: 11 → 10 (-1)

Holders
133
Holders Change
+4
Holders Change %
+3.1%
% of All Funds
1.62%
Holding in Top 10
10
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-9.09%
% of All Funds
0.12%
New
19
Increased
74
Reduced
29
Closed
13
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
Morgan Stanley
Morgan Stanley
New York
+$24.7M
2
CPG
Cornerstone Planning Group
New Jersey
+$12.5M
3
BWP
BlueStem Wealth Partners
Minnesota
+$10.7M
4
EWS
Evergreen Wealth Solutions
Pennsylvania
+$8.74M
5
MFG
Merit Financial Group
Georgia
+$8.55M

Top Sellers

1
Wealth Enhancement Advisory Services
Wealth Enhancement Advisory Services
Minnesota
-$10.9M
2
RWA
Redhawk Wealth Advisors
Minnesota
-$7.05M
3
Citadel Advisors
Citadel Advisors
Florida
-$5.67M
4
Thrivent Financial for Lutherans
Thrivent Financial for Lutherans
Minnesota
-$4.04M
5
SAM
Synergy Asset Management
Washington
-$2.75M
Name Holding Trade Value Shares
Change 		Change in
Stake
Cambridge Investment Research Advisors
51
Cambridge Investment Research Advisors
Iowa
$3.45M +$221K +4,336 +7%
RW
52
REDW Wealth
New Mexico
$3.22M +$1.62M +31,800 +101%
LWM
53
Lakeridge Wealth Management
Ohio
$3.16M -$1.79M -35,154 -36%
SIC
54
Samalin Investment Counsel
New York
$3.13M +$259K +5,083 +9%
VA
55
Valmark Advisers
Ohio
$2.91M +$1.07K +21 +0%
Janney Montgomery Scott
56
Janney Montgomery Scott
Pennsylvania
$2.81M +$620K +12,178 +28%
SPIA
57
Steward Partners Investment Advisory
New York
$2.53M +$242K +4,755 +11%
PFGIA
58
Patriot Financial Group Insurance Agency
Massachusetts
$2.48M +$2.48M +48,700 New
MWM
59
Maridea Wealth Management
New York
$2.47M +$2.17M +42,710 +722%
EH
60
Equitable Holdings
New York
$2.4M +$134K +2,628 +6%
RWA
61
Rooted Wealth Advisors
Illinois
$2.4M +$2.4M +47,119 New
OC
62
Oppenheimer & Co
New York
$2.26M +$27.3K +537 +1%
TFM
63
Trademark Financial Management
Minnesota
$2.09M -$123K -2,423 -6%
ERWM
64
Elk River Wealth Management
Colorado
$2.03M +$140K +2,759 +7%
OWM
65
OneAscent Wealth Management
Alabama
$1.91M -$338K -6,644 -15%
Bank of New York Mellon
66
Bank of New York Mellon
New York
$1.89M +$162K +3,186 +9%
MWP
67
Madison Wealth Partners
Wisconsin
$1.81M -$148K -2,898 -8%
BCI
68
Brinker Capital Investments
Pennsylvania
$1.64M -$384K -7,546 -19%
Mariner
69
Mariner
Kansas
$1.63M -$260K -5,100 -14%
AI
70
Atria Investments
North Carolina
$1.6M -$309K -6,075 -16%
Wells Fargo
71
Wells Fargo
California
$1.41M +$1.41M +27,680 +39,543%
KAS
72
Kestra Advisory Services
Texas
$1.41M +$177K +3,472 +14%
PWM
73
Perigon Wealth Management
California
$1.35M +$328K +6,435 +32%
Rockefeller Capital Management
74
Rockefeller Capital Management
New York
$1.32M +$1.07M +20,986 +417%
SOS
75
Silver Oak Securities
Tennessee
$1.23M -$255 -5 -0%
1 2
3
4 5

USTB Hedge Fund Activity: Q4 2025 in Review

133 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in Victory Portfolios II VictoryShares Short-Term Bond ETF (USTB) for Q4 2025, worth a combined $1.3B — up 7.4% from $1.21B a quarter earlier.

Buyers outnumbered sellers: 19 funds opened new USTB positions and 13 closed out — a net gain of 6 holders — while 74 added to existing stakes and 29 trimmed.

The largest buyer was Morgan Stanley, adding an estimated $24.7M. The largest seller was Wealth Enhancement Advisory Services, cutting an estimated $10.9M.

  • 133 institutional investors held Victory Portfolios II VictoryShares Short-Term Bond ETF (USTB) as of Q4 2025, up from 129 in Q3 2025.
  • Funds reported $1.3B of Victory Portfolios II VictoryShares Short-Term Bond ETF stock for Q4 2025, up 7.4% quarter-over-quarter.
  • 19 funds opened new Victory Portfolios II VictoryShares Short-Term Bond ETF positions in Q4 2025 and 13 closed out, a net change of +6 holders.
  • The largest Victory Portfolios II VictoryShares Short-Term Bond ETF buyer in Q4 2025 was Morgan Stanley, an estimated $24.7M added.
  • The largest Victory Portfolios II VictoryShares Short-Term Bond ETF seller in Q4 2025 was Wealth Enhancement Advisory Services, an estimated $10.9M sold.

Based on aggregated 13F filings for Q4 2025.