SEC 13F Intelligence

Managers / Q1 2025 · view latest →

Merit Financial Group, LLC

CIK 0001621225 · 2400 LAKEVIEW PARKWAY, SUITE 550, ALPHARETTA, GA, 30009 · 678-867-7050

Reported Value
$6.7B
Q1 2025
Positions
1,411
Filings on Record
31
2019–present window
Filed
Apr 9, 2025
original filing

Summary

Merit Financial Group, LLC reported $6.7B in U.S.-listed holdings across 1,411 positions for Q1 2025.

Its largest position, Ishares Tr, represents 3.3% of the portfolio.

Compared with Q4 2024, the fund opened 303 new positions and exited 54.

Portfolio Metrics

Turnover
+8.8%
vs prior filed quarter
Top-10 Concentration
+22.6%
share of reported value
Largest Position
+3.3%
Ishares Tr
New / Exited
303 / 54
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $665MQ4 ’18Q1 ’19: $820MQ2 ’19: $853MQ3 ’19: $915MQ4 ’19: $1.1BQ4 ’19Q1 ’20: $895MQ2 ’20: $1.0BQ3 ’20: $1.1BQ4 ’20: $1.0BQ4 ’20Q1 ’21: $956MQ2 ’21: $1.1BQ3 ’21: $955MQ4 ’21: $1.0BQ4 ’21Q1 ’22: $1.7BQ2 ’22: $3.2BQ3 ’22: $2.3BQ4 ’22: $2.8BQ4 ’22Q1 ’23: $2.8BQ2 ’23: $3.1BQ3 ’23: $3.1BQ4 ’23: $3.3BQ4 ’23Q1 ’24: $4.2BQ2 ’24: $4.5BQ3 ’24: $4.5BQ4 ’24: $5.6BQ4 ’24Q1 ’25: $6.7BQ2 ’25: $9.0BQ3 ’25: $10.9BQ4 ’25: $12.5BQ4 ’25Q1 ’26: $13.5Bfilingsflow.com

Portfolio Composition

By security type
ETP: 67.5%Common Stock: 29.8%Other: 1.1%REIT: 0.6%Closed-End Fund: 0.5%Other: 0.5%
  • ETP · 67.5% · $4.5B
  • Common Stock · 29.8% · $2.0B
  • Other · 1.1% · $74M
  • REIT · 0.6% · $39M
  • Closed-End Fund · 0.5% · $33M
  • Other · 0.5% · $30M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2024 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
FIRST TR EXCH TRADED FD IIINEW+1.44M1.44M+$27M$27M
VANGUARD SCOTTSDALE FDSNEW+104.9K104.9K+$10M$10M
DIMENSIONAL ETF TRUSTNEW+188.1K188.1K+$6M$6M
ISHARES TRNEW+79.7K79.7K+$5M$5M
DFAIDIMENSIONAL ETF TRUSTNEW+161.8K161.8K+$5M$5M
BNY MELLON ETF TRUST IINEW+194.8K194.8K+$5M$5M
SPDR SER TRNEW+151.5K151.5K+$4M$4M
SCHWAB STRATEGIC TRNEW+136.7K136.7K+$3M$3M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2025

28 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1ISHARES TRCORE S&P US VLU · CORE S&P500 ETF · CORE S&P US GWT · MBS ETF · MSCI ACWI EX US · MSCI USA QLT FCT · CORE MSCI EAFE · EAFE VALUE ETF · USD INV GRDE ETF · EAFE GRWTH ETF · U.S. TECH ETF15.90%$1.1B10.88M
2VUGVANGUARD INDEX FDShistory →S&P 500 ETF SHS · GROWTH ETF · TOTAL STK MKT · MID CAP ETF · SMALL CP ETF · VALUE ETF8.46%$565M1.69M
3SPDR SER TRPORTFLI INTRMDIT · PORTFOLIO SH TSR · PRTFLO S&P500 GW · PORTFOLIO S&P600 · PORTFOLIO S&P5004.82%$322M9.36M
4VANGUARD WORLD FDMEGA GRWTH IND · MEGA CAP VAL ETF2.80%$187M948.6K
5AAPLAPPLE INChistory →COM2.23%$149M669.9K
62023 ETF SERIES TRUST IIGMO US QUALITY E2.23%$149M4.75M
7AMERICAN CENTY ETF TRINTL SMCP VLU · AVANTIS EMGMKT1.79%$120M1.84M
8UPSUNITED PARCEL SERVICE INChistory →CL B1.42%$95M863.0K
9MSFTMICROSOFT CORPhistory →COM1.41%$94M250.8K
10BLACKROCK ETF TRUSTISHARES US EQUIT1.30%$87M1.78M
11NDQINVESCO QQQ TRhistory →UNIT SER 11.12%$75M159.7K
12NVDANVIDIA CORPORATIONhistory →COM1.05%$70M649.8K
13ISHARES INCCORE MSCI EMKT · MSCI EMRG CHN1.04%$69M1.27M
14VANGUARD BD INDEX FDSTOTAL BND MRKT0.99%$66M897.4K
15BLACKROCK ETF TRUST IIISHARES FLEXIBLE0.92%$61M1.17M
16AMZNAMAZON COM INChistory →COM0.89%$59M310.8K
17BRK/BBERKSHIRE HATHAWAY INC DELhistory →CL B NEW0.72%$48M90.8K
18SPDR S&P 500 ETF TRTR UNIT0.65%$43M77.0K
19INVESCO EXCH TRADED FD TR IIS&P500 LOW VOL0.62%$41M553.5K
20VGSHVANGUARD SCOTTSDALE FDShistory →SHORT TERM TREAS0.60%$40M686.1K
21JANUS DETROIT STR TRHENDRSON AAA CL0.54%$36M712.7K
22METAMETA PLATFORMS INChistory →CL A0.53%$35M61.0K
23GOOGLALPHABET INChistory →CAP STK CL A0.48%$32M206.5K
24PIMCO ETF TRENHAN SHRT MA AC0.45%$30M297.2K
25VANGUARD WHITEHALL FDSHIGH DIV YLD0.43%$29M221.6K
26JPMJPMORGAN CHASE & CO.history →COM0.41%$27M111.4K
27EXMOCEXXON MOBIL CORPhistory →COM0.40%$27M227.3K
28FIRST TR EXCH TRADED FD IIIINSTL PFD SECS0.40%$27M1.44M

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$13.5B7,348Apr 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$12.5B6,866Jan 26, 202613F-HRchanges · EDGAR ↗
Q3 2025$10.9B6,380Nov 7, 2025RESTATEMENTchanges · EDGAR ↗
Q2 2025$9.0B1,708Jul 22, 202513F-HRchanges · EDGAR ↗
Q1 2025$6.7B1,411Apr 9, 202513F-HRchanges · EDGAR ↗
Q4 2024$5.6B1,152Jan 15, 202513F-HRchanges · EDGAR ↗
Q3 2024$4.5B831Oct 17, 202413F-HRchanges · EDGAR ↗
Q2 2024$4.5B914Aug 13, 202413F-HRchanges · EDGAR ↗
Q1 2024$4.2B863May 6, 202413F-HRchanges · EDGAR ↗
Q4 2023$3.3B773Feb 6, 202413F-HRchanges · EDGAR ↗
Q3 2023$3.1B740Nov 7, 202313F-HRchanges · EDGAR ↗
Q2 2023$3.1B747Aug 1, 202313F-HRchanges · EDGAR ↗
Q1 2023$2.8B638Apr 24, 202313F-HRchanges · EDGAR ↗
Q4 2022$2.8B706Jan 13, 202313F-HRchanges · EDGAR ↗
Q3 2022$2.3B602Oct 31, 202213F-HRchanges · EDGAR ↗
Q2 2022$3.2B761Aug 8, 202213F-HRchanges · EDGAR ↗
Q1 2022$1.7B385May 13, 202213F-HRchanges · EDGAR ↗
Q4 2021$1.0B275Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$955M264Oct 27, 202113F-HRchanges · EDGAR ↗
Q2 2021$1.1B263Aug 16, 202113F-HRchanges · EDGAR ↗
Q1 2021$956M234May 18, 202113F-HRchanges · EDGAR ↗
Q4 2020$1.0B214Feb 12, 202113F-HRchanges · EDGAR ↗
Q3 2020$1.1B228Nov 10, 202013F-HRchanges · EDGAR ↗
Q2 2020$1.0B220Aug 13, 202013F-HRchanges · EDGAR ↗
Q1 2020$895M223May 5, 202013F-HRchanges · EDGAR ↗
Q4 2019$1.1B232Jan 16, 202013F-HRchanges · EDGAR ↗
Q3 2019$915M138Nov 25, 201913F-HRchanges · EDGAR ↗
Q2 2019$853M127Aug 13, 201913F-HRchanges · EDGAR ↗
Q1 2019$820M129May 16, 201913F-HRchanges · EDGAR ↗
Q4 2018$665M117Feb 15, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.