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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
LFG
126
Larson Financial Group
Missouri
$9.63K – – –
AWM
127
AE Wealth Management
Kansas
$9.26K +$9.26K +182 New
CSC
128
Caldwell Sutter Capital
California
$8.44K – – –
CA
129
CoreCap Advisors
Michigan
$7.52K +$4.73K +93 +169%
HI
130
Harbour Investments
Wisconsin
$5.75K – – –
RF
131
Rossby Financial
Florida
$1.4K +$611 +12 +75%
VCM
132
Versant Capital Management
Arizona
$508 – – –
AssetMark Inc
133
AssetMark Inc
California
$254 – – –
Russell Investments Group
134
Russell Investments Group
United Kingdom
$62 – – –
Citadel Advisors
135
Citadel Advisors
Florida
– -$5.67M -111,246 Closed
SAM
136
Synergy Asset Management
Washington
– -$2.75M -54,055 Closed
CGH
137
Crossmark Global Holdings
Texas
– -$402K -7,889 Closed
GSWM
138
Greenup Street Wealth Management
Michigan
– -$387K -7,590 Closed
TNA
139
True North Advisors
Texas
– -$259K -5,074 Closed
WI
140
WBI Investments
New Jersey
– -$226K -4,434 Closed
CFB
141
Cullen/Frost Bankers
Texas
– -$143K -2,809 Closed
AAS
142
Ameritas Advisory Services
Nebraska
– -$79.5K -1,559 Closed
PS
143
Principal Securities
Iowa
– -$77.5K -1,520 Closed
JP Morgan Chase
144
JP Morgan Chase
New York
– -$31.9K -625 Closed
CWM
145
Crowley Wealth Management
Delaware
– -$14.3K -280 Closed
FMII
146
Farmers & Merchants Investments Inc
Nebraska
– -$4.28K -84 Closed
Citigroup
147
Citigroup
New York
– -$153 -3 Closed
2 3 4 5
6

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.