# EDGAR Filing Document

**Accession Number:** 0001128122
**File Stem:** 0000929638-23-000607
**Filing Date:** 2023-2
**Character Count:** 9442
**Document Hash:** 4763b340179c448f2faa7188bc68c185
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000929638-23-000607.hdr.sgml**: 20230214

**ACCESSION NUMBER**: 0000929638-23-000607

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230214

**DATE AS OF CHANGE**: 20230214

**EFFECTIVENESS DATE**: 20230214

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VALLEY FINANCIAL MANAGEMENT, INC.
- **CENTRAL INDEX KEY:** 0001128122
- **IRS NUMBER:** 134132289
- **STATE OF INCORPORATION:** NY
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-22699
- **FILM NUMBER:** 23630051

**BUSINESS ADDRESS:**
- **STREET 1:** 350 MADISON AVE.
- **STREET 2:** 4TH FLOOR, COMPLIANCE DEPARTMENT
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** 1-212-626-1138

**MAIL ADDRESS:**
- **STREET 1:** 350 MADISON AVE.
- **STREET 2:** 4TH FLOOR, COMPLIANCE DEPARTMENT
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LEUMI INVESTMENT SERVICES INC.
- **DATE OF NAME CHANGE:** 20220517

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VALLEY FINANCIAL MANAGEMENT, INC.
- **DATE OF NAME CHANGE:** 20220502

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LEUMI INVESTMENT SERVICES INC.
- **DATE OF NAME CHANGE:** 20020301

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** VALLEY FINANCIAL MANAGEMENT INC.<br>**Address:** 350 MADISON AVE.<br>4TH FLOOR COMPLIANCE DEPARTMENT<br>NEW YORK, NY 10017

**Form 13F File Number:** 028-22699

**CRD Number (if applicable):** 000105387

**SEC File Number (if applicable):** 801-113685

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Christopher Wilson<br>**Title:** Chief Compliance Officer<br>**Phone:** 212-407-4362

**Signature, Place, and Date of Signing:**

/s/ Christopher Wilson  New York, NY  02-14-2023<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 1

**Form 13F Information Table Entry Total:** 42

**Form 13F Information Table Value Total:** $179705639

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

| No.   | Name                 | Form 13F File Number   |
|:---|:---|:---|
|  | Valley National Bank | 028-22712              |

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| Invesco Aerospace  Defense ETF | Exchange Traded Fund | 46137V100 |  | 17041102 | 217361 | SH |  | DFND | 1 | 0 | 0 | 0 |
| iShares Core US Aggregate Bond | Exchange Traded Fund | 464287226 |  | 14014275 | 144492 | SH |  | DFND | 1 | 0 | 0 | 0 |
| WisdomTree Europe Quality Div Gr ETF | Exchange Traded Fund | 97717X610 |  | 12280880 | 450235 | SH |  | DFND | 1 | 0 | 0 | 0 |
| Vanguard Russell 1000 Growth ETF | Exchange Traded Fund | 92206C680 |  | 11137768 | 202064 | SH |  | DFND | 1 | 0 | 0 | 0 |
| Amplify CWP Enhanced Dividend Income ETF | Exchange Traded Fund | 032108409 |  | 11330433 | 315963 | SH |  | DFND | 1 | 0 | 0 | 0 |
| Invesco S 500 Equal Weight ETF | Exchange Traded Fund | 46137V357 |  | 10321985 | 73076 | SH |  | DFND | 1 | 0 | 0 | 0 |
| Vanguard 500 ETF | Exchange Traded Fund | 922908363 |  | 10113322 | 28785 | SH |  | DFND | 1 | 0 | 0 | 0 |
| Core Alternative ETF | Exchange Traded Fund | 53656F847 |  | 9673333 | 306312 | SH |  | DFND | 1 | 0 | 0 | 0 |
| Select Sector Spdr Trust The Health Care Select Sector Spdr Fund | Exchange Traded Fund | 81369Y209 |  | 9208185 | 67782 | SH |  | DFND | 1 | 0 | 0 | 0 |
| WisdomTree Floating Rate Treasury ETF | Exchange Traded Fund | 97717Y527 |  | 6518360 | 129667 | SH |  | DFND | 1 | 0 | 0 | 0 |
| iShares Edge MSCI Min Vol USA | Exchange Traded Fund | 46429B697 |  | 6738466 | 93460 | SH |  | DFND | 1 | 0 | 0 | 0 |
| iShares US Financial Services ETF | Exchange Traded Fund | 464287770 |  | 6810062 | 43233 | SH |  | DFND | 1 | 0 | 0 | 0 |
| ProShares S 500 Dividend Aristocrats | Exchange Traded Fund | 74348A467 |  | 6247196 | 69421 | SH |  | DFND | 1 | 0 | 0 | 0 |
| SPDR MSCI USA StrategicFactors ETF | Exchange Traded Fund | 78468R812 |  | 6376028 | 57801 | SH |  | DFND | 1 | 0 | 0 | 0 |
| iShares Core MSCI Pacific ETF | Exchange Traded Fund | 46434V696 |  | 5950125 | 110865 | SH |  | DFND | 1 | 0 | 0 | 0 |
| SPDR S Oil  Gas Explor  Prodtn ETF | Exchange Traded Fund | 78468R556 |  | 5170370 | 38051 | SH |  | DFND | 1 | 0 | 0 | 0 |
| iShares Semiconductor ETF | Exchange Traded Fund | 464287523 |  | 2716680 | 7807 | SH |  | DFND | 1 | 0 | 0 | 0 |
| Schwab US Dividend Equity ETF | Exchange Traded Fund | 808524797 |  | 2538673 | 33607 | SH |  | DFND | 1 | 0 | 0 | 0 |
| Vanguard Intmdt-Term Trs ETF | Exchange Traded Fund | 92206C706 |  | 2366042 | 40459 | SH |  | DFND | 1 | 0 | 0 | 0 |
| ETFMG Prime Cyber Security ETF | Exchange Traded Fund | 26924G201 |  | 2210209 | 50175 | SH |  | DFND | 1 | 0 | 0 | 0 |
| iShares Expanded Tech-Software Sect ETF | Exchange Traded Fund | 464287515 |  | 2112298 | 8256 | SH |  | DFND | 1 | 0 | 0 | 0 |
| VanEck Biotech ETF | Exchange Traded Fund | 92189F726 |  | 2099143 | 13141 | SH |  | DFND | 1 | 0 | 0 | 0 |
| Global X SuperDividend US ETF | Exchange Traded Fund | 37950E291 |  | 1651930 | 87413 | SH |  | DFND | 1 | 0 | 0 | 0 |
| Robo Global Robotics ETF | Exchange Traded Fund | 301505707 |  | 1638970 | 35376 | SH |  | DFND | 1 | 0 | 0 | 0 |
| Vanguard Short-Term Bond ETF | Exchange Traded Fund | 921937827 |  | 1537594 | 20425 | SH |  | DFND | 1 | 0 | 0 | 0 |
| First Trust Cloud Computing ETF | Exchange Traded Fund | 33734X192 |  | 1527529 | 26515 | SH |  | DFND | 1 | 0 | 0 | 0 |
| Invesco Fundamental Hi Yld Corp Bd ETF | Exchange Traded Fund | 46138E719 |  | 1521591 | 88878 | SH |  | DFND | 1 | 0 | 0 | 0 |
| Technology Select Sector SPDR ETF | Exchange Traded Fund | 81369Y803 |  | 1336112 | 10737 | SH |  | DFND | 1 | 0 | 0 | 0 |
| iShares Fallen Angels USD Bond ETF | Exchange Traded Fund | 46435G474 |  | 1261632 | 51265 | SH |  | DFND | 1 | 0 | 0 | 0 |
| Fidelity Total Bond ETF | Exchange Traded Fund | 316188309 |  | 1213275 | 26859 | SH |  | DFND | 1 | 0 | 0 | 0 |
| iShares US Medical Devices | Exchange Traded Fund | 464288810 |  | 1136826 | 21625 | SH |  | DFND | 1 | 0 | 0 | 0 |
| SPDR S Kensho Smart Mobility ETF | Exchange Traded Fund | 78468R689 |  | 1116004 | 37882 | SH |  | DFND | 1 | 0 | 0 | 0 |
| iShares Preferred Securities ETF | Exchange Traded Fund | 464288687 |  | 889578 | 29138 | SH |  | DFND | 1 | 0 | 0 | 0 |
| Invesco Financial Preferred ETF | Exchange Traded Fund | 46137V621 |  | 789280 | 54811 | SH |  | DFND | 1 | 0 | 0 | 0 |
| Invesco QQQ Trust | Exchange Traded Fund | 46090E103 |  | 367200 | 1379 | SH |  | DFND | 1 | 0 | 0 | 0 |
| SPDR Portfolio Aggregate Bond ETF | Exchange Traded Fund | 78464A649 |  | 291935 | 11617 | SH |  | DFND | 1 | 0 | 0 | 0 |
| SPDR Gold Shares | Exchange Traded Fund | 78463V107 |  | 218157 | 1286 | SH |  | DFND | 1 | 0 | 0 | 0 |
| iShares Russell 1000 Growth | Exchange Traded Fund | 464287614 |  | 135828 | 634 | SH |  | DFND | 1 | 0 | 0 | 0 |
| Vanguard Intermediate-Term Corp Bd ETF | Exchange Traded Fund | 92206C870 |  | 37670 | 486 | SH |  | DFND | 1 | 0 | 0 | 0 |
| iShares Russell 2000 | Exchange Traded Fund | 464287655 |  | 25282 | 145 | SH |  | DFND | 1 | 0 | 0 | 0 |
| iShares Short Maturity Bond ETF | Exchange Traded Fund | 46431W507 |  | 17688 | 359 | SH |  | DFND | 1 | 0 | 0 | 0 |
| SPDR S Regional Banking ETF | Exchange Traded Fund | 78464A698 |  | 16623 | 283 | SH |  | DFND | 1 | 0 | 0 | 0 |

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