Skip to main content

Merit Financial Group, LLC

SEC CIK
0001621225
Latest filing
Jul 20, 2026

Holdings in Q3 2025

Holdings as of Sep 30, 2025, filed Nov 7, 2025. Long positions only; changes compare share counts with Q2 2025.

Institution overview
Positions
1,782
+88 vs. Q2 2025
Portfolio value
$10.9B
+$1.91B (+21.4%) vs. Q2 2025
Filed
Nov 7, 2025
AmendedSEC
Holdings of Merit Financial Group, LLC in Q3 2025
SecurityClassSharesValue% of portfolioShare changeActionHistory
Vanguard Morningstar Growth ETF922908736ETF810,877$388.9M3.6%−6,576−0.8%Reduced–
Gmo ETF Trust90139K100US QUALITY ETF7,024,080$254.2M2.3%+200,508+2.9%Added–
iShares Core S&P US Value ETF464287663ETF2,343,492$234.2M2.2%+55,005+2.4%Added–
iShares Core S&P U.S. Growth ETF464287671ETF1,412,197$232.4M2.1%−127,378−8.3%Reduced–
Vanguard World FD921910816MEGA GRWTH IND538,959$216.9M2.0%+181,132+50.6%Added–
AAPLApple Inc.Stock781,670$199.0M1.8%+45,789+6.2%AddedHistory
Vanguard S&P 500 ETF922908363ETF294,519$180.4M1.7%−5,331−1.8%Reduced–
iShares Core S&P 500 ETF464287200ETF263,998$176.7M1.6%+10,043+4.0%Added–
MSFTMicrosoft CorpStock334,756$173.4M1.6%+31,283+10.3%AddedHistory
Vanguard Morningstar Value ETF922908744ETF892,908$166.5M1.5%+16,934+1.9%Added–
SPDR Series Trust78464A672ST INTER ETF5,380,575$155.5M1.4%+291,256+5.7%Added–
iShares Tr464288877EAFE VALUE ETF2,286,227$155.1M1.4%+575,507+33.6%Added–
BlackRock ETF Trust09290C103ISHARES US EQUIT2,492,196$147.5M1.4%+713,904+40.1%Added–
NVDANVIDIA CorpStock764,127$142.6M1.3%+61,375+8.7%AddedHistory
iShares MSCI USA Quality Factor ETF46432F339ETF697,503$135.7M1.2%+43,346+6.6%Added–
Vanguard Morningstar Total Stock Market ETF922908769ETF396,272$130.0M1.2%+25,304+6.8%Added–
iShares Core MSCI Emerging Markets ETF46434G103ETF1,926,789$127.0M1.2%+551,636+40.1%Added–
American Centy ETF Tr025072174AVANTIS ALL INT1,782,622$125.9M1.2%+70,308+4.1%Added–
Victory Portfolios II92647N535SHORT TRM BD ETF2,430,797$123.9M1.1%+2,389,445+5,778.3%Added–
Victory Portfolios II92647X863CORE PLUS BD ETF5,472,002$120.7M1.1%+5,472,002New–
Vanguard World FD921910840MEGA CAP VAL ETF831,915$114.6M1.1%+192,747+30.2%Added–
iShares Tr464288588MBS ETF1,184,090$112.7M1.0%+44,468+3.9%Added–
Invesco QQQ Trust Series I46090E103ETF184,939$111.0M1.0%+18,874+11.4%Added–
iShares Flexible Income Active ETF092528603ETF2,006,972$106.9M1.0%+658,649+48.8%Added–
SPDR Index Shs FDS78463X848ST STR ACWI ETF2,795,582$97.6M0.9%+2,519,140+911.3%Added–
Victory Portfolios II92647X830SHS FR CA FL ETF2,419,736$90.7M0.8%+85,914+3.7%Added–
AMZNAmazon Com IncStock409,544$89.9M0.8%+27,781+7.3%AddedHistory
Capital Group Core Equity Et14020V108SHS CREAT UNIT2,107,661$83.3M0.8%+1,985,435+1,624.4%Added–
Vanguard Total Bond Market ETF921937835ETF1,036,609$77.1M0.7%+125,736+13.8%Added–
Janus Detroit STR Tr47103U845HENDRSON AAA CL1,492,094$75.8M0.7%+639,795+75.1%Added–
Vanguard Morningstar Mid-Cap ETF922908629ETF254,121$74.6M0.7%+57,086+29.0%Added–
Capital Group Dividend Value14020W106SHS CREAT UNIT1,690,161$71.0M0.7%+1,391,257+465.5%Added–
UPSUnited Parcel Service IncStock838,845$70.1M0.6%−21,648−2.5%ReducedHistory
AVGOBroadcom Inc.Stock209,664$69.2M0.6%+3,835+1.9%AddedHistory
GOOGLAlphabet Inc.Stock283,964$69.0M0.6%+21,677+8.3%AddedHistory
Capital Group Growth ETF14020G101SHS CREAT UNIT1,510,100$66.3M0.6%+1,247,158+474.3%Added–
Vanguard Morningstar Small-Cap ETF922908751ETF258,587$65.8M0.6%+45,273+21.2%Added–
iShares Broad Usd Investment Grade Corporate Bond ETF464288620ETF1,235,503$64.5M0.6%+32,866+2.7%Added–
iShares U.S. Treasury Bond ETF46429B267ETF2,753,378$63.7M0.6%+1,007,786+57.7%Added–
METAMeta Platforms, Inc.Stock84,670$62.2M0.6%+6,263+8.0%AddedHistory
BRK.BBerkshire Hathaway IncStock119,564$60.1M0.6%+7,620+6.8%AddedHistory
Schwab U.S. Large-Cap Growth ETF808524300ETF1,834,030$58.5M0.5%−82,631−4.3%Reduced–
BlackRock ETF Trust09290C806ISHA US THEM ETF1,513,495$57.3M0.5%+457,903+43.4%Added–
BlackRock ETF Trust09290C780ISHA I IN TE ETF1,659,696$56.7M0.5%+1,001,129+152.0%Added–
iShares Core MSCI Eafe ETF46432F842ETF639,047$55.8M0.5%−57,610−8.3%Reduced–
Vanguard Ftse Developed Markets ETF921943858ETF929,372$55.7M0.5%+6,070+0.7%Added–
State Street SPDR Portfolio S&P 500 Growth ETF78464A409ETF494,220$51.7M0.5%−31,081−5.9%Reduced–
Capital Grp Fixed Incm ETF T14020Y508CORE BOND ETF1,935,910$51.5M0.5%+1,820,690+1,580.2%Added–
Capital Grp Fixed Incm ETF T14020Y102CORE PLUS INCM2,259,377$51.3M0.5%+2,067,719+1,078.9%Added–
SPYSPDR S&P 500 ETF TrustETF76,490$51.0M0.5%−3,547−4.4%ReducedHistory
JPMJPMorgan Chase & CoStock157,871$49.8M0.5%+6,408+4.2%AddedHistory
Capital Grp Fixed Incm ETF T14020Y409SHORT DURATION1,822,843$47.4M0.4%+1,802,416+8,823.7%Added–
Vanguard Mortgage-Backed Securities ETF92206C771ETF909,795$42.7M0.4%+284,118+45.4%Added–
IAUiShares Gold TrustETF578,361$42.1M0.4%+227,485+64.8%AddedHistory
iShares MSCI USA Momentum Factor ETF46432F396ETF160,608$41.2M0.4%+34,632+27.5%Added–
Vanguard High Dividend Yield Index ETF921946406ETF271,703$38.3M0.4%+11,821+4.5%Added–
Schwab Strategic Tr808524862SHT TM US TRES1,562,292$38.1M0.4%+469,323+42.9%Added–
GOOGAlphabet Inc.Stock155,017$37.8M0.3%+4,019+2.7%AddedHistory
Capital Group Equity ETF Tr14022A102US SM MI CA ETF1,316,034$37.4M0.3%+1,276,343+3,215.7%Added–
TSLATesla, Inc.Stock83,957$37.3M0.3%+6,848+8.9%AddedHistory
iShares Tr46435G672CORE INTL AGGR710,280$36.4M0.3%+246,664+53.2%Added–
State Street SPDR Bloomberg 1-3 Month T-Bill ETF78468R663ETF396,427$36.4M0.3%+331,413+509.8%Added–
XOMExxonMobil Holdings CorpCOM318,099$35.9M0.3%+45,124+16.5%AddedHistory
State Street SPDR Portfolio S&P 500 ETF78464A854ETF444,895$34.9M0.3%−8,701−1.9%Reduced–
JNJJohnson & JohnsonStock186,501$34.6M0.3%+6,784+3.8%AddedHistory
PGProcter & Gamble CoStock221,319$34.0M0.3%+85,642+63.1%AddedHistory
Vanguard Morningstar Small-Cap Value ETF922908611ETF160,742$33.5M0.3%−8,844−5.2%Reduced–
Capital Group International14021T102SHS1,082,709$33.4M0.3%+1,082,709New–
Global X FDS37960A529DEFENSE TECH ETF465,545$32.7M0.3%+386,214+486.8%Added–
First Tr Exch Traded FD III33739P855INSTL PFD SECS1,653,787$32.0M0.3%+97,331+6.3%Added–
WMTWalmart Inc.Stock308,438$31.8M0.3%+55,340+21.9%AddedHistory
HDHome Depot, Inc.Stock77,729$31.5M0.3%+3,277+4.4%AddedHistory
COSTCostco Wholesale CorpStock32,724$30.3M0.3%+516+1.6%AddedHistory
PLTRPalantir Technologies Inc.Stock160,562$29.3M0.3%+7,140+4.7%AddedHistory
iShares S&P 500 Growth ETF464287309ETF235,085$28.4M0.3%+4,680+2.0%Added–
VVisa Inc.Stock81,286$27.7M0.3%−1,553−1.9%ReducedHistory
Fidelity Covington Trust316092782VLU FACTOR ETF401,738$27.7M0.3%+401,738New–
Vanguard Morningstar Small-Cap Growth ETF922908595ETF91,973$27.4M0.3%−4,843−5.0%Reduced–
Capital Grp Fixed Incm ETF T14020Y888ULTRA SHORT ETF1,066,035$27.0M0.2%+1,066,035New–
Neos ETF Trust78433H675NASDAQ 100 HIGH492,567$26.7M0.2%+492,567New–
iShares S&P 100 ETF464287101ETF80,172$26.7M0.2%+9,797+13.9%Added–
LLYEli Lilly & CoStock34,469$26.3M0.2%+2,039+6.3%AddedHistory
iShares MSCI Acwi Ex U.S. ETF464288240ETF381,609$24.8M0.2%−2,229,940−85.4%Reduced–
Capital Group International14021M107SHS722,975$24.4M0.2%+722,975New–
PMPhilip Morris International Inc.Stock149,678$24.3M0.2%+7,921+5.6%AddedHistory
Schwab U.S. Large-Cap Value ETF808524409ETF814,992$23.7M0.2%−36,166−4.2%Reduced–
ORCLOracle CorpStock83,417$23.5M0.2%+9,544+12.9%AddedHistory
Vanguard S&P 500 Growth ETF921932505ETF53,369$23.2M0.2%−293−0.5%Reduced–
KBDCKayne Anderson BDC, Inc.COM SHS1,738,174$23.2M0.2%00.0%UnchangedHistory
iShares Russell Top 200 Growth ETF464289438ETF84,050$23.0M0.2%−1,199−1.4%Reduced–
Schwab US Dividend Equity ETF808524797ETF830,507$22.7M0.2%−138,037−14.3%Reduced–
Invesco Nasdaq 100 ETF46138G649ETF89,895$22.2M0.2%+9,306+11.5%Added–
GEGeneral Electric CoStock73,236$22.0M0.2%+2,742+3.9%AddedHistory
Dimensional U.S. Core Equity 2 ETF25434V708ETF569,250$22.0M0.2%+47,301+9.1%Added–
CVXChevron CorpStock139,451$21.7M0.2%+13,485+10.7%AddedHistory
BFCBank First CorpCOM177,398$21.5M0.2%−579−0.3%ReducedHistory
Neos ETF Trust78433H303NEOS S&P 500 HI409,522$21.4M0.2%+409,522New–
iShares Tr464288414NATIONAL MUN ETF193,622$20.6M0.2%−2,781−1.4%Reduced–
iShares Tr464287721U.S. TECH ETF105,137$20.6M0.2%−135,034−56.2%Reduced–
NFLXNetflix IncStock17,069$20.5M0.2%+862+5.3%AddedHistory

Options (9)

Puts and calls in the same filing. Amounts are the market value of the underlying shares, which is what 13F reports.

Option positions of Merit Financial Group, LLC in Q3 2025
SecurityClassPutsCalls
SPYSPDR S&P 500 ETF TrustETF$5.80M–
AVGOBroadcom Inc.Stock$1.16M–
UPSUnited Parcel Service IncStock$387.6K–
Direxion Shs ETF Tr25459W458DLY SCOND 3XBU–$271.5K
MARAMARA Holdings, Inc.COM–$162.9K
GMEGameStop Corp.Stock–$157.5K
SFMSprouts Farmers Market, Inc.COM$143.6K–
AAPLApple Inc.Stock$134.9K–
NVDANVIDIA CorpStock–$17.0K

Sold out since Q2 2025 (85)

Positions held at the end of Q2 2025 that are gone from this filing.

Positions of Merit Financial Group, LLC sold out since Q2 2025
SecurityClassShares in Q2 2025Value in Q2 2025% of portfolio in Q2 2025History
NMFCNew Mountain Finance CorpCOM143,499$1.51M<0.1%History
PWODPenns Woods Bancorp IncCOM42,317$1.28M<0.1%History
Innovator ETFs Trust45782C722INTRNL DEV JULY28,486$909.8K<0.1%–
GSBDGoldman Sachs BDC, Inc.SHS74,931$843.0K<0.1%History
EEFTEuronet Worldwide, Inc.COM7,920$802.9K<0.1%History
SKXSkechers USA IncCL A12,484$787.7K<0.1%History
ANSSAnsys IncCOM2,125$746.3K<0.1%History
iShares Tr46436E759ESG EAFE ETF9,609$715.3K<0.1%–
Trust for Professional Manag89834G752ACTIVEPASSIVE CR23,163$686.5K<0.1%–
BALLBALL CorpCOM11,526$646.5K<0.1%History
KEXKirby CorpCOM5,097$578.1K<0.1%History
HESHess CorpStock3,922$543.3K<0.1%History
BRKRBruker CorpCOM12,525$516.0K<0.1%History
WATWaters CorpCOM1,303$454.7K<0.1%History
CHXChampionX CorpCOM15,739$390.9K<0.1%History
iShares Tr46436E619ESG ADVAN ETF8,828$384.5K<0.1%–
VERVVerve Therapeutics, Inc.COM32,612$366.2K<0.1%History
Innov Prem Inc 30 Barr-July45783Y566ETP14,161$351.5K<0.1%–
COLDAmericold Realty TrustCOM20,982$348.9K<0.1%History
Innov Prem Inc 30 Barr - Jan45783Y376ETP13,090$322.6K<0.1%–
SPDR Series Trust78464A383ST STR BACKE ETF13,551$299.5K<0.1%–
Schwab Strategic Tr808524680LONG TERM US9,351$298.2K<0.1%–
TWTradeweb Markets Inc.Stock1,906$279.1K<0.1%History
CTBICommunity Trust Bancorp IncCOM5,090$269.4K<0.1%History
FRPTFreshpet, Inc.Stock3,960$269.1K<0.1%History
TDCTeradata CorpStock11,359$253.4K<0.1%History
ELSEquity Lifestyle Properties IncCOM4,095$252.5K<0.1%History
CRICarters IncCOM8,356$251.8K<0.1%History
Ea Series Trust02072L573STRIVE 2000 ETF8,191$248.6K<0.1%–
LUVSouthwest Airlines CoCOM7,663$248.6K<0.1%History
MNDYmonday.com Ltd.SHS750$235.9K<0.1%History
Direxion Shares ETF Trust25459Y207NASDAQ 100 EQ WT2,301$226.2K<0.1%–
CECelanese CorpStock4,061$224.7K<0.1%History
TMDXTransMedics Group, Inc.COM1,662$222.7K<0.1%History
SMRNuscale Power CorpCL A COM5,566$220.2K<0.1%History
Dimensional ETF Trust25434V872CORE FIXE IN ETF5,155$217.9K<0.1%–
Innovator ETFs Trust45783Y103US EQUITY ACCELE5,797$216.7K<0.1%–
PIMCO ETF Tr72201R88225YR+ ZERO U S3,200$214.6K<0.1%–
BPMCBlueprint Medicines CorpCOM1,662$213.0K<0.1%History
CFRCullen/Frost Bankers, Inc.COM1,655$212.7K<0.1%History
CPTCamden Property TrustREIT1,878$211.6K<0.1%History
VVVValvoline IncCOM5,563$210.7K<0.1%History
STRAStrategic Education, Inc.COM2,450$208.6K<0.1%History
State Street Real Estate Select Sector SPDR ETF81369Y860ETF5,025$208.1K<0.1%–
DVDoubleVerify Holdings, Inc.COM13,898$208.1K<0.1%History
WBAWalgreens Boots Alliance, Inc.COM17,950$206.1K<0.1%History
QDELQuidelOrtho CorpCOM7,091$204.4K<0.1%History
HEIHeico CorpCOM621$203.7K<0.1%History
JKHYJack Henry & Associates IncStock1,128$203.2K<0.1%History
BROSDutch Bros Inc.CL A2,953$201.9K<0.1%History
CUZCousins Properties IncCOM NEW6,683$200.7K<0.1%History
Etfis Ser Tr I26923G772INFRAC ACT MLP4,623$200.4K<0.1%–
CWKCushman & Wakefield Ltd.SHS17,662$195.5K<0.1%History
ACNTAscent Industries Co.COM12,404$156.4K<0.1%History
VSTSVestis CorpCOM SHS27,021$154.8K<0.1%History
PKSTPeakstone Realty TrustCommon Stock11,214$148.1K<0.1%History
AGNCAGNC Investment Corp.REIT14,804$136.1K<0.1%History
SNCYSun Country Airlines Holdings, LLCCOM11,337$133.2K<0.1%History
TROXTronox Holdings plcSHS25,841$131.0K<0.1%History
Invesco Exch Traded FD Tr II46138E511PFD ETF11,588$129.0K<0.1%–
COTYCoty Inc.COM CL A27,342$127.1K<0.1%History
QSQuantumScape CorpCOM CL A17,747$119.3K<0.1%History
SAGESage Therapeutics, Inc.COM12,876$117.4K<0.1%History
MHIPioneer Municipal High Income Fund, Inc.COM SHS11,648$106.7K<0.1%History
WUWestern Union COStock12,619$106.3K<0.1%History
ECCEagle Point Credit CoCOM13,608$104.2K<0.1%History
XFLTXAI Floating Rate & Alternative Income TrustCOM15,920$89.9K<0.1%History
OXLCOxford Lane Capital Corp.COM17,047$71.6K<0.1%History
PSECProspect Capital CorpCOM20,007$63.6K<0.1%History
UISUnisys CorpCOM NEW12,860$58.3K<0.1%History
UNITUniti Group Inc.COM10,483$45.3K<0.1%History
EVGOEVgo Inc.CL A COM10,678$39.0K<0.1%History
BLNDBlend Labs, Inc.CL A11,660$38.5K<0.1%History
CTKBCytek Biosciences, Inc.COM11,103$37.8K<0.1%History
PPTFranklin Premier Income TrustSH BEN INT10,282$37.7K<0.1%History
Graniteshares ETF Tr38747R7281X SHORT COIN10,000$24.1K<0.1%–
EAFGraftech International LtdCOM22,442$21.8K<0.1%History
BEATHeartBeam, Inc.COM15,274$19.1K<0.1%History
LESLLeslie's, Inc.COM43,646$18.3K<0.1%History
GPROGoPro, Inc.CL A23,658$17.9K<0.1%History
LXRXLexicon Pharmaceuticals, Inc.COM NEW16,699$15.8K<0.1%History
SESSES AI CorpCL A COM12,584$11.2K<0.1%History
SMRTSmartRent, Inc.COM CL A10,843$10.7K<0.1%History
MRSNMersana Therapeutics, Inc.COM31,588$9.35K<0.1%History
TLRYTilray Brands, Inc.COM CL 210,708$4.44K<0.1%History