To invest one million is commendable; to invest fifteen million suggests a certain romanticism in finance. Krilogy Financial LLC, ever the bard of portfolios, has increased its stake in [b]VictoryShares Free Cash Flow ETF[/b] (VFLO +0.94%) by 314,131 shares-a [$]14.8 million] sonnet in ticker tape, per the November 6, 2025, SEC filing.
Theatrics of Transaction
The firm’s latest amour, now totaling 1,558,848 shares valued at [$]58.78 million[/], constitutes 2.21% of the ETF’s reportable assets-a statistic as precise as a Savile Row measurement. One might call it a flirtation, though only a philistine would mistake flirtation for commitment.
Portfolio as Palimpsest
Krilogy’s [$]2.66 billion[/] U.S. equity AUM now bears the VFLO watermark, a watermark that whispers rather than shouts. Their top holdings, disclosed with the candor of a confessional, include the [$]106.21 million[/] “romance” with [b]Schwab U.S. Large-Cap Growth ETF[/b] (SCHG 0.49%) and a [$]70.74 million[/] dalliance with [b]Apple[/b] (AAPL 0.51%)-a fruit far more tempting in portfolio than in Eden.
- [b]Schwab U.S. Large-Cap Growth ETF[/b] (SCHG 0.49%): [$]106.21 million[/] (4.06% of AUM)
- [b]PIMCO Multisector Bond Active ETF[/b] (PYLD 0.06%): [$]87.55 million[/] (3.35% of AUM)
- [b]Dimension U.S. Core Equity Market ETF[/b] (DFAU 0.04%): [$]78.81 million[/] (3.02% of AUM)
- [b]Schwab U.S. Large-Cap Value ETF[/b] (SCHV +0.42%): [$]74.20 million[/] (2.84% of AUM)
- [b]Apple[/b] (AAPL 0.51%): [$]70.74 million[/] (2.71% of AUM)
VFLO shares, priced at [$]37.71[/] as of November 5, 2025, have risen 14% year-over-year-a performance lagging the [b]S&P 500[/b] by four percentage points, a deficit that would make a banker weep into his ledger. Yet they linger 2% below their 52-week high, like a prima donna refusing to bow.
Company as Curio
| Metric | Value |
|---|---|
| AUM | [$]4.8 billion[/] |
| Price (as of market close 2025-11-05) | [$]37.71[/] |
| Dividend yield | 1.50% |
| 1-year total return | 13.52% |
VictoryShares: A Profile in Contradictions
This ETF, a paradox in ticker form, courts U.S. large- and mid-cap equities with the allure of robust free cash flow-seeking to mimic a custom index as one might mimic a lover’s handwriting. Its portfolio, culled from the S-Network US Equity Large/Mid-Cap 1000 Index, contains 50 stocks selected not for virtue but for the seduction of liquidity.
- Targets firms where free cash flow sings louder than revenue.
- Embraces a rules-based methodology, lest human folly intervene.
The Fool’s Epistle
Krilogy’s acquisition of VFLO may dazzle the vulgar investor-a man who mistakes a symphony for a fanfare. Yet the firm added positions in 94 of its top 100 holdings this quarter; this is no Othello’s jealousy, but a merchant’s arithmetic. Still, as their seventh-largest holding, VFLO persists-a canary in the coal mine of cash flow.
The ETF’s strategy, hunting large-caps with high FCF yields, sounds a siren song. But two years of underperformance against the S&P suggest the alchemy of cash flow has yet to transmute this ETF into gold. Its 0.39% expense ratio, while not vulgar, pales beside [b]Vanguard S&P 500 ETF[/b]’s (VOO 0.08%) ascetic 0.03%. Yet VFLO’s 1.4% dividend yield and portfolio P/E of 16-compared to VOO’s 28-hint at a value-oriented libertinism.
If Krilogy intends to court VFLO via quarterly dollar-cost averaging, one might call it a marriage of convenience. For the individual investor, however, owning individual stocks-or a broader index, for those allergic to risk-remains the superior romance. After all, as I once wrote: “To have a stock rise is delightful; to have it rise perpetually is a fairy tale.” 🦋
Lexicon of the Financial Aesthete
[b]ETF (Exchange-Traded Fund):[/b] A sonnet of securities, traded like a haiku on stock exchanges.
[b]Assets Under Management (AUM):[/b] The weight of a fund’s purse, measured in gold or its absence.
[b]Dividend yield:[/b] The annual whisper of returns, divided by price’s current sigh.
[b]Total return:[/b] The crescendo of price change and reinvested dividends.
[b]Rules-based methodology:[/b] An algorithm’s waltz, devoid of human passion.
[b]Free cash flow:[/b] The lucre left after capital’s carnival.
[b]Custom index:[/b] A bespoke benchmark, tailored to idiosyncratic whims.
[b]Large-cap:[/b] Corporations of such girth they disdain mirrors.
[b]Mid-cap:[/b] Enterprises in their awkward adolescence.
[b]Reportable assets:[/b] Holdings disclosed to authorities, like secrets to a priest.
[b]Equity:[/b] A slice of ownership, often served with hubris.
[b]S-Network US Equity Large/Mid-Cap 1000 Index:[/b] A pantheon of 1,000 companies, tracked with religious fervor.
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2025-11-08 00:18