Victory Portfolios II VictoryShares Short-Term Bond ETF

USTB

Market cap $1.97B

The asset management landscape continues to evolve with Victory Capital Management affirming its fully financed, actionable proposal to acquire Janus Henderson Group, which rivals a previous bid from Trian Fund Management. If the proposal is accepted, this would result in a strategic merger, creating a powerhouse in both the ETF and mutual fund ecosystems.

BlueStem bought 209,508 shares of USTB in the fourth quarter. The firm held a position in USTB valued at $10.6 million at the end of the quarter.

Acquired 245,676 shares of USTB; estimated trade size $12.5 million based on quarterly average price. Quarter-end position value rose by $12.51 million, reflecting both trading and price changes.

Merit Financial increased its stake by 167,898 shares; estimated trade size ~$8.55 million based on quarterly average price. The quarter-end position value rose by $8.17 million, reflecting both trading and price changes.

Purchased 69,053 shares of USTB; estimated trade size was approximately $3.5 million based on quarterly average price. Quarter-end position value increased by $3.4 million, reflecting both trading activity and price movement.

Sold 138,413 shares of USTB; estimated transaction value $7.05 million based on quarterly average pricing. Quarter-end position value dropped $7.09 million, reflecting both share sales and price shifts.

Decreased holding by 245,575 shares as of September 30, 2025; estimated transaction value of $12.48 million Represents a 2.0% shift in 13F reportable assets under management (AUM) for the period ended Q3 2025 Post-trade stake: 420 shares, valued at $25,360 as of September 30, 2025 The position was previously 2.56% of the fund's AUM as of June 30, 2025, and is now nearly eliminated

Pennsylvania-based Amplius Wealth increased its USTB holding by 90,135 shares for an estimated $4.6 million in the third quarter. The transaction value represented about 0.4% of reportable assets at quarter-end.