MF
Merit Financial Group, LLC 13F Holdings & Position Changes (Q2 2026)
Merit Financial Group, LLCCIK: 0001621225
Diversified strategyMomentum follower
Total reported value
$16.4B
Reporting period: 2026-06-30 · Number of holdings: 10700
Merit Financial Group, LLC disclosed 10700 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $16.4B and a quarterly turnover rate of 27.9%.
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Personality snowflake
- Concentration
- 3.01
- Portfolio Stability
- 27.89
- Momentum
- 100
- Sector conviction
- 52.2
- Diversification
- 100
- Sizing Uniformity
- 59.46
Merit Financial Group, LLC's disclosed holdings carry a Herfindahl concentration index of 0.008 — mathematically equivalent to about 133 equally-sized positions, well below its 10700 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 4.05), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 31% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd SPY
+4.9% $239.2M
Trim EFV
-35.7% -$59.5M
Trim QUAL
-65.5% -$58.3M
Add MGK
+571.4% $120.9M
Add DYNF
+34.8% $112.4M
Add AAPL
+23.1% $109.3M
Holdings Map
New buyAddUnchangedTrim
Institutional Game-State Analysis
Core Intent
Merit Financial Group's top changes reveal a deliberate push into large-cap growth and broad market ETFs, actively adding to SPY, MGK, DYNF, AAPL, and others. With a perfect momentum-contrarian score of 100, the firm is doubling down on recent winners while maintaining an extremely diversified 2,318-position portfolio — a posture that suggests conviction in the continuity of the current growth leadership. Despite a slight weight decline in VUG, the action is marked as an 'add,' indicating active share accumulation.
Macro & Fundamentals
Adds concentrate in Information Technology (34.3% of portfolio) and cyclical sectors like Industrials (12.1%), alongside benchmark proxies — a configuration consistent with a bet on U.S. mega-cap resilience and ongoing factor momentum. However, with no material trims reported, the data alone cannot confirm a deliberate sector rotation; it may simply reflect a reluctance to exit perceived structural winners.
Blind Spots / Risks
The portfolio's extreme diversification (2,318 holdings, HHI 0.0075) masks a strong latent momentum bet (score 100), creating a crowding risk. If the market undergoes a sharp factor rotation — growth to value, or momentum to mean-reversion — the broad index exposure offers less protection than the dispersion of holdings suggests, potentially amplifying drawdowns.
Compiled by AI directly from this institution's public Form 13F data on SEC EDGAR; reflects historical positioning only and carries no investment recommendation. Source filing linked below. View the original 2026-06-30 Form 13F filing on SEC.gov
💡
Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Top 10 holdings by weight
Full holdings list this quarter
Showing top 200 holdings (of 10700 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | VUG | Vanguard Growth ETF | ETF-Other | 2.60% | -0.07% | +500.63% | |
| 2 | IUSG | Ishares Core S&p U.s. Growth | ETF-Other | 2.40% | +0.15% | +7.07% | |
| 3 | AAPL | Apple Inc | Stock-Tech | 2.20% | +0.34% | +23.14% | |
| 4 | QLTY | Gmo U.s. Quality ETF | ETF-Other | 2.15% | +0.01% | +5.91% | |
| 5 | IUSV | Ishares Core S&p U.s. Value | ETF-Other | 2.00% | -0.12% | +6.74% | |
| 6 | MGK | Vanguard Mega Cap Growth ETF | ETF-Other | 1.95% | +0.47% | +571.45% | |
| 7 | DYNF | Ishrs US E F R A Etf-usd Inc | ETF-Other | 1.88% | +0.43% | +34.84% | |
| 8 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 1.84% | +1.38% | +4.94% | |
| 9 | MGV | Vanguard Mega Cap Value ETF | ETF-Other | 1.65% | +0.21% | +23.61% | |
| 10 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 1.62% | +0.06% | +10.03% | |
| 11 | NVDA | Nvidia CORP | Stock-Tech | 1.60% | +0.12% | +14.33% | |
| 12 | VTV | Vanguard Value ETF | ETF-Other | 1.36% | -0.09% | +2.17% | |
| 13 | CORO | Ish Intl Ctry Rot Act ETF | ETF-Other | 1.28% | +0.09% | +15.28% | |
| 14 | MSFT | Microsoft CORP | Stock-Tech | 1.19% | — | +21.21% | |
| 15 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 1.14% | -0.08% | -0.91% | |
| 16 | SPTI | Ss Spdr P Int Term Tsy ETF | ETF-Other | 1.12% | -0.20% | +3.88% | |
| 17 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 1.11% | +0.11% | +4.97% | |
| 18 | AVNM | Avantis All Intl Mkts Eq ETF | ETF-Other | 1.08% | -0.07% | +6.38% | |
| 19 | CWI | State Street Spdr Msci Acwi | ETF-Other | 0.93% | -0.02% | +7.53% | |
| 20 | USTB | Victoryshares Short-term Bon | ETF-Other | 0.91% | -0.15% | +4.14% | |
| 21 | GOVT | Ishares US Treasury Bond ETF | ETF-Gov Bonds | 0.90% | — | +23.45% | |
| 22 | VFLO | Victoryshares Free Cash Flow | ETF-Other | 0.90% | +0.07% | +14.24% | |
| 23 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 0.89% | +0.11% | +22.12% | |
| 24 | UBND | Victoryshares Core Plus Bond | ETF-Other | 0.88% | -0.15% | +3.55% | |
| 25 | AVGO | Broadcom Inc | Stock-Tech | 0.85% | +0.19% | +7.15% | |
| 26 | BINC | Ishares Flex I A Etf-usd Inc | ETF-Other | 0.85% | -0.07% | +11.72% | |
| 27 | IEMG | Ishares Core Msci Emerging | ETF-Emerging Markets | 0.83% | -0.14% | -12.90% | |
| 28 | MBB | Ishares Mbs ETF | ETF-Other | 0.83% | -0.13% | +5.16% | |
| 29 | VO | Vanguard Mid-cap ETF | ETF-Other | 0.82% | +0.05% | +366.70% | |
| 30 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 0.74% | +0.02% | +0.49% | |
| 31 | BAI | Ishrs Ai In And Tech Act ETF | ETF-Tech | 0.72% | +0.10% | -10.65% | |
| 32 | EFV | Ishares Msci Eafe Value ETF | ETF-Other | 0.71% | -0.60% | -35.69% | |
| 33 | VTI | Vanguard Total Stock Mkt ETF | ETF-Other | 0.66% | — | +5.35% | |
| 34 | CGUS | Cap Group Core Equity | ETF-Other | 0.62% | -0.04% | -1.68% | |
| 35 | VB | Vanguard Small-cap ETF | ETF-Other | 0.61% | +0.01% | +6.14% | |
| 36 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.60% | +0.15% | +32.75% | |
| 37 | UPS | United Parcel Service-cl B | Stock-Industrials | 0.58% | -0.02% | +3.92% | |
| 38 | MTUM | Ishares Msci USA Momentum Fa | ETF-Other | 0.57% | -0.05% | -20.52% | |
| 39 | BND | Vanguard Total Bond Market | ETF-Other | 0.56% | -0.01% | +19.28% | |
| 40 | CGGR | Cap Group Growth Equity | ETF-Other | 0.56% | -0.01% | +1.06% | |
| 41 | CGDV | Cap Group Dividend Value | ETF-Other | 0.53% | -0.04% | -1.55% | |
| 42 | JAAA | Janus Henderson Aaa Clo ETF | ETF-Other | 0.52% | -0.10% | +2.34% | |
| 43 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.49% | +0.10% | +37.75% | |
| 44 | VMBS | Vanguard Mortgage-backed Sec | ETF-Other | 0.46% | -0.01% | +19.33% | |
| 45 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.44% | -0.01% | +12.00% | |
| 46 | SHLD | Global X Defense Tech ETF | ETF-Tech | 0.43% | -0.01% | +39.76% | |
| 47 | EFG | Ishares Msci Eafe Growth ETF | ETF-Other | 0.42% | +0.21% | +118.99% | |
| 48 | THRO | Ishares U.s. Thematic Rotati | ETF-Other | 0.41% | -0.15% | -24.42% | |
| 49 | VEA | Vanguard Ftse Developed ETF | ETF-Other | 0.41% | -0.03% | +0.07% | |
| 50 | SPYG | Ss Spdr P S&p 500 Growth ETF | ETF-Large Cap & Growth | 0.39% | — | +1.31% |
1–50 of 200
Portfolio Performance
Performance for Q3 2026
+2.4%
Performance Last 4 Quarters
+19%
- Stdev
- +12.3%
- Beta
- +0.62
- Alpha
- -0.3%
- Max Drawdown
- -9.9%
- Annualized Perf
- +12%
- Batting Avg vs S&P
- +41.7%
- Sortino
- +1.64
- Stutzer
- +0.28
- Treynor
- +0.19
- Sterling
- +0.72
- Calmar
- +1.21
- Information Ratio
- -0.75
- Tracking Error
- +10.5%
- Stdev Down
- +7.4%
- Winning Months %
- +66.7%
- Losing Months %
- +33.3%
- Best 12 Months
- +26%
- Worst 12 Months
- -3%
- Efficiency Ratio
- +0.39
- Sharpe
- +0.99
- Stdev Sectors
- +8.7%
- Skewness
- -0.4
- Kurtosis
- +0.33
- Upside Potential
- +3.18
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 10700 | $16.4B | 28 | ||
| 2026 Q1 | 7348 | $13.5B | 19 | ||
| 2025 Q4 | 6866 | $12.5B | 21 | ||
| 2025 Q3 | 6380 | $10.9B | 57 | ||
| 2025 Q2 | 1708 | $9.0B | 0 | ||
| 2025 Q1 | 1411 | $6.7B | 100 | ||
| 2024 Q4 | 1152 | $5.6B | 0 | ||
| 2024 Q3 | 831 | $4.5B | 0 | ||
| 2024 Q2 | 914 | $4.5B | 0 | ||
| 2024 Q1 | 863 | $4.2B | 0 | ||
| 2023 Q4 | 773 | $3.3B | 0 | ||
| 2023 Q3 | 740 | $3.1B | 0 | ||
| 2023 Q2 | 747 | $3.1B | 0 | ||
| 2023 Q1 | 638 | $2.8B | 0 | ||
| 2022 Q4 | 706 | $2.8B | 0 | ||
| 2022 Q3 | 602 | $2.3B | 0 | ||
| 2022 Q2 | 761 | $3.2B | 0 | ||
| 2022 Q1 | 385 | $1.7B | 0 | ||
| 2021 Q4 | 275 | $1.0B | 0 | ||
| 2021 Q3 | 264 | $955.4M | 0 | ||
| 2021 Q2 | 263 | $1.1B | 95 | ||
| 2021 Q1 | 234 | $955.9M | 44 | ||
| 2020 Q4 | 214 | $1.0B | 31 | ||
| 2020 Q3 | 228 | $1.1B | 19 | ||
| 2020 Q2 | 220 | $1.0B | 61 | ||
| 2020 Q1 | 223 | $894.9M | 40 | ||
| 2019 Q4 | 232 | $1.1B | 27 | ||
| 2019 Q3 | 138 | $914.6M | 40 | ||
| 2019 Q2 | 127 | $852.6M | 47 | ||
| 2019 Q1 | 129 | $819.8M | 47 | ||
| 2018 Q4 | 117 | $664.8M | 37 | ||
| 2018 Q3 | 120 | $624.5M | 14 | ||
| 2018 Q2 | 118 | $558.1M | 14 | ||
| 2018 Q1 | 113 | $508.9M | 13 | ||
| 2017 Q4 | 107 | $469.8M | 0 |
Holding changes this quarter
Merit Financial Group, LLC's most significant position changes for 2026-06-30: New buy: Ishrs Sys Alt Act ETF (IALT); New buy: Ishares Global Gb Usd Ha ETF (GGOV); Sold out: Honeywell International Inc (HON); New buy: Vaneck Natural Resources ETF (HAP); Sold out: Amplify Tlt US Tr 12% Op ETF (TLTP).
Showing top 200 changes by size (of 2428 total)
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | SPY | Ss Spdr S&p 500 ETF Trust-us | +1.4% | +4.94% | Add |
| 2 | MGK | Vanguard Mega Cap Growth ETF | +0.5% | +571.45% | Add |
| 3 | DYNF | Ishrs US E F R A Etf-usd Inc | +0.4% | +34.84% | Add |
| 4 | AAPL | Apple Inc | +0.3% | +23.14% | Add |
| 5 | IALT | Ishrs Sys Alt Act ETF | +0.3% | NEW | New buy |
| 6 | MU | Micron Technology Inc | +0.3% | +13.31% | Add |
| 7 | GGOV | Ishares Global Gb Usd Ha ETF | +0.3% | NEW | New buy |
| 8 | MGV | Vanguard Mega Cap Value ETF | +0.2% | +23.61% | Add |
| 9 | EFG | Ishares Msci Eafe Growth ETF | +0.2% | +118.99% | Add |
| 10 | AVGO | Broadcom Inc | +0.2% | +7.15% | Add |
| 11 | AMAT | Applied Materials Inc | +0.2% | +61.04% | Add |
| 12 | IUSG | Ishares Core S&p U.s. Growth | +0.2% | +7.07% | Add |
| 13 | GOOG | Alphabet Inc-cl C | +0.2% | +32.75% | Add |
| 14 | MINT | Pimco Enhanced Short Maturit | +0.2% | +476.73% | Add |
| 15 | AMD | Advanced Micro Devices | +0.1% | +3.85% | Add |
| 16 | NVDA | Nvidia CORP | +0.1% | +14.33% | Add |
| 17 | BUFR | Ft Vest Lad Buffervetf-usd I | +0.1% | +308.37% | Add |
| 18 | OILK | Pros K-1 Free Cr Oil Etf-usd | +0.1% | +1329.00% | Add |
| 19 | QQQ | Invesco Qqq Trust Series 1 | +0.1% | +4.97% | Add |
| 20 | AMZN | Amazon.com Inc | +0.1% | +22.12% | Add |
| 21 | BAI | Ishrs Ai In And Tech Act ETF | +0.1% | -10.65% | Trim |
| 22 | JPM | Jpmorgan Chase & Co | +0.1% | +37.75% | Add |
| 23 | CORO | Ish Intl Ctry Rot Act ETF | +0.1% | +15.28% | Add |
| 24 | INTC | Intel CORP | +0.1% | -12.01% | Trim |
| 25 | SHOP | Shopify Inc - Class A | +0.1% | +338.59% | Add |
| 26 | VLUE | Ishares Msci USA Value Facto | +0.1% | +597.33% | Add |
| 27 | CAT | Caterpillar Inc | +0.1% | +5.87% | Add |
| 28 | DELL | Dell Technologies -c | +0.1% | +144.88% | Add |
| 29 | LAMR | Lamar Advertising Co-a | +0.1% | +1243.10% | Add |
| 30 | IBTJ | Ishares Ibonds Dec 2029 Term | +0.1% | +3155.09% | Add |
| 31 | VFLO | Victoryshares Free Cash Flow | +0.1% | +14.24% | Add |
| 32 | IVV | Ishares Core S&p 500 ETF | +0.1% | +10.03% | Add |
| 33 | CSCO | Cisco Systems Inc | +0.1% | +15.13% | Add |
| 34 | SMH | Vaneck Semiconductor ETF | +0.1% | +7.76% | Add |
| 35 | KLAC | Kla CORP | +0.1% | +891.01% | Add |
| 36 | TLT | Ishares 20+ Year Treasury Bd | +0.1% | +100.27% | Add |
| 37 | VOD | Vodafone Group Plc-sp Adr | +0.1% | +7003.02% | Add |
| 38 | HAP | Vaneck Natural Resources ETF | +0.1% | NEW | New buy |
| 39 | FTI | TechnipFMC plc | +0.1% | +181.31% | Add |
| 40 | NVR | Nvr Inc | +0.1% | +3675.68% | Add |
| 41 | VO | Vanguard Mid-cap ETF | +0.1% | +366.70% | Add |
| 42 | GDX | Vaneck Gold Miners ETF | +0.1% | +1466.86% | Add |
| 43 | LLY | Eli Lilly & Co | 0% | +5.34% | Add |
| 44 | MUB | Ishares National Muni Bond E | 0% | +40.47% | Add |
| 45 | SCHA | Schwab US Small-cap ETF | 0% | +25.32% | Add |
| 46 | AVUV | Avantis US Small Cap Value | 0% | +44.12% | Add |
| 47 | WDC | Western Digital CORP | 0% | -5.25% | Trim |
| 48 | GLW | Corning Inc | 0% | +22.81% | Add |
| 49 | TXN | Texas Instruments Inc | 0% | +4.48% | Add |
| 50 | SCHF | Schwab Intl Equity ETF | 0% | +54.50% | Add |
1–50 of 200
Filing History
FAQ
What is Merit Financial Group, LLC and what type of investor is it?
Merit Financial Group, LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $16.4B, spread across 10700 disclosed positions.
What are Merit Financial Group, LLC's largest equity positions?
Based on the latest 13F filing, Merit Financial Group, LLC's top holdings by market value are:
1. Vanguard Growth ETF (VUG) — $426.4M (2.6%)
2. Ishares Core S&p U.s. Growth (IUSG) — $393.6M (2.4%)
3. Apple Inc (AAPL) — $359.7M (2.2%)
4. Gmo U.s. Quality ETF (QLTY) — $351.7M (2.1%)
5. Ishares Core S&p U.s. Value (IUSV) — $327.9M (2.0%)
What changes did Merit Financial Group, LLC make in its most recent portfolio filing?
In the latest reported quarter, Merit Financial Group, LLC made 200 notable position adjustments: 7 new positions were initiated, 140 existing holdings were added to, 51 positions were partially reduced, and 2 were completely exited. The largest of these moves: New buy: Ishrs Sys Alt Act ETF (IALT); New buy: Ishares Global Gb Usd Ha ETF (GGOV); Sold out: Honeywell International Inc (HON); New buy: Vaneck Natural Resources ETF (HAP); Sold out: Amplify Tlt US Tr 12% Op ETF (TLTP)
What sectors does Merit Financial Group, LLC focus on?
Merit Financial Group, LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 34.3%
• Industrials: 12.1%
• Financials: 11.0%
• Consumer Discretionary: 9.4%
• Health Care: 8.9%
• Communication Services: 7.5%
Investment Profile
Merit Financial Group, LLC returned an annualized 12.0% over the trailing 36 months — underperforming the S&P 500 by 0.3 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.62 (less volatile than the market) and a 42% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 34.3% of the portfolio concentrated in Information Technology.
Its turnover score has risen from 0 to 28 over the past 4 quarters — a shift toward more active trading.
It has added to its SPY position over the past two quarters (+$241.3M, now $300.6M), while trimming USIG over the same stretch (-$59.9M, still holding $8.5M).
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Developer Access
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REST API
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