Cornerstone Planning Group Dumps 245K USTB Shares for $12.5 Million

On November 4, 2025, Cornerstone Planning Group LLC disclosed a major sale of VictoryShares USAA Core Short-Term Bond ETF (NASDAQ:USTB), offloading 245,575 shares for an estimated $12.48 million based on average third-quarter pricing.

What happened

According to a filing with the Securities and Exchange Commission dated November 4, 2025, Cornerstone Planning Group LLC cut its position in VictoryShares USAA Core Short-Term Bond ETF by 245,575 shares during the third quarter of 2025. The estimated value of this transaction, based on the average close during the quarter, is approximately $12.48 million. The remaining holding stands at 420 shares, worth $25,360 as of September 30, 2025.

What else to know

This reduction brings the USTB stake to 0.0041% of Cornerstone Planning Group’s 13F reportable AUM as of September 30, 2025.

Top holdings after the filing:

• QQQM: $66.78 million (10.7% of AUM) as of September 30, 2025
• FENI: $57.63 million (9.2% of AUM) as of September 30, 2025
• FNDC: $42.60 million (6.8% of AUM) as of September 30, 2025
• VYM: $41.22 million (6.6% of AUM) as of September 30, 2025
• SMLF: $32.75 (5.2% of AUM) as of September 30, 2025

As of November 3, 2025, shares of VictoryShares USAA Core Short-Term Bond ETF were priced at $50.93, lagging the S&P 500 by 14.26 percentage points over the past year.

The fund’s indicated dividend yield was 4.66% as of November 4, 2025. The price was 0.38% below its 52-week high as of November 3, 2025.

Company overview

Company snapshot

The investment strategy focuses on short-term debt securities with a dollar-weighted average portfolio maturity of three years or less, seeking to provide income.

The portfolio may allocate up to 20% to foreign debt securities, including emerging markets and non-U.S. dollar bonds.

Structured as an exchange-traded fund, it offers investors access to a diversified short-term bond portfolio with a competitive dividend yield.

VictoryShares USAA Core Short-Term Bond ETF (USTB) offers institutional and retail investors efficient exposure to a diversified portfolio of short-term fixed income securities. The fund focuses on bonds with maturities of three years or less. Its flexibility to invest in select foreign debt instruments offers additional diversification.

Foolish take

Cornerstone Planning Group sold off nearly all of its shares of VictoryShares USAA Core Short-Term Bond ETF (USTB) during Q3 2025. Although it seems like a dramatic move, the scant 1.34% lifetime gain could be a major factor in this decision.

Although USTB is a healthy dividend producer, the stock itself has been a disappointment to many investors. It’s meant to be a hedge using short-term bonds, but giving away 0.35% to expenses and only coming back with dividends in the 4-5% range may have been a real mood killer for many investors, who were less concerned with the ability to diversify into emerging markets and non-US bonds, and more concerned with growing their investments.

In short, it’s actually surprising that Cornerstone held the 420 shares it did in Q3, unless this was a case of a DRIP purchase that it will dispose of during Q4. Cornerstone is a group that can’t afford to sit around and wait for this bond play to pan out, and with USTB having existed since 2017 with this level of performance, it’s unlikely to see any huge momentum in the near-term.

The stock hit a price peak in 2021 and then bottomed-out a little over a year later, which could have been a good buying opportunity for someone. However, with it sitting below its 2021 highs now in 2025, over four years later, it’s not exactly an ETF that’s got a lot going for it besides the dividend.

Glossary

Stake: The ownership interest or investment held in a particular security or fund.

13F reportable assets under management (AUM): The total value of securities that an institutional investment manager must report quarterly to the SEC on Form 13F.

Dividend yield: Annual dividends paid by a fund or stock divided by its current price, expressed as a percentage.

Exchange-traded fund (ETF): An investment fund traded on stock exchanges, holding a basket of assets like stocks or bonds.

Short-term debt securities: Bonds or notes that mature in three years or less, typically with lower risk and returns.

Portfolio maturity: The average time until the bonds or debt instruments in a portfolio mature.

Emerging markets: Economies in the process of rapid growth and industrialization, often with higher risk and return potential.

Fixed income securities: Investments, such as bonds, that pay regular interest and return principal at maturity.

Total return: The investment's price change plus all dividends and distributions, assuming those payouts are reinvested.

Indicated dividend yield: The most recent dividend, annualized, divided by the current share price, indicating expected yield.

Assets under management (AUM): The total market value of investments managed by a fund or investment firm.

Dollar-weighted average: An average where each component is weighted by its dollar value, often used for portfolio calculations.

Kristi Waterworth has positions in Invesco NASDAQ 100 ETF. The Motley Fool has positions in and recommends Vanguard Whitehall Funds - Vanguard High Dividend Yield ETF. The Motley Fool has a disclosure policy.