VICTORY CAPITAL MANAGEMENT INC

Long Only Manager

VICTORY CAPITAL MANAGEMENT INC is a Long Only Manager based in San Antonio, TX led by David Craig Brown, managing $169.09B across 2,376 long positions as of Q3 2025 with 32% Technology concentration.

CEODavid Craig Brown

Portfolio Value: $169.09B
Positions: 2,376
Top Holding: QCOM at 6.43%
Last Reported: Q3 2025

Address15935 La Cantera Pkwy, San Antonio, TX, 78256, United States

Top Holdings

Largest long holdings in VICTORY CAPITAL MANAGEMENT INC's portfolio (24.5% of total portfolio)

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Holding	Sector	Market Value	Weight	Ownership	Owned Since
1 Qualcomm QCOM	Semiconductors Technology	$10.9B	6.43%	0.36% 3.9M shares	Q3 2013 Held for 12y 2m
2 Nvidia NVDA	Semiconductors Technology	$6.2B	3.65%	0.14% 35.1M shares	Q2 2015 Held for 10y 5m
3 Microsoft MSFT	Software - Infrastructure Technology	$5.8B	3.43%	0.16% 11.6M shares	Q3 2013 Held for 12y 2m
4 Apple AAPL	Consumer Electronics Technology	$4.8B	2.84%	0.13% 19.5M shares	Q3 2013 Held for 12y 2m
5 Amazon AMZN	Specialty Retail Consumer Cyclical	$4.3B	2.53%	0.18% 19.3M shares	Q3 2013 Held for 12y 2m
6 Alphabet Inc. GOOGL	Internet Content & Information Communication Services	$2.6B	1.55%	0.09% 10.8M shares	Q3 2013 Held for 12y 2m
7 Broadcom Inc. AVGO	Semiconductors Technology	$2.0B	1.19%	0.13% 6.1M shares	Q4 2014 Held for 10y 11m
8 Alphabet Inc. GOOG	Internet Content & Information Communication Services	$1.8B	1.04%	0.06% 7.2M shares	Q2 2014 Held for 11y 5m
9 Eli Lilly LLY	Drug Manufacturers - General Healthcare	$1.6B	0.92%	0.26% 2.3M shares	Q2 2014 Held for 11y 5m
10 Meta Platforms, Inc. META	Internet Content & Information Communication Services	$1.5B	0.89%	0.08% 2.0M shares	Q3 2013 Held for 12y 2m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in VICTORY CAPITAL MANAGEMENT INC's latest filing

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Market Value

$169.09B

Prior: $153.27B

Q/Q Change

+10.32%

+$15.8B

Net Flows % of MV

-0.98%

Turnover Ratio

11.45%

New Purchases

37 stocks

$198.0M

Added To

914 stocks

+$18.3B

Sold Out Of

158 stocks

$507.4M

Reduced Holdings

1,339 stocks

-$19.7B

Increased Positions

Position	Shares Δ	Change
1 ABI Applied Biosystems ABI	New	0 → 2.2M +$54.1M
2 iShares MSCI Europe Financials EUFN	New	0 → 1.2M +$40.1M
3 Indivior INDV	New	0 → 806.2K +$19.4M
4 Sportradar Group AG SRAD	New	0 → 637.8K +$17.2M
5 MIAX Miami International Holdings, Inc. MIAX	New	0 → 302.2K +$12.2M

Decreased Positions

Position	Shares Δ	Change
1 Fiserv FI	Sold	535.8K → 0 −$92.4M
2 Juniper Networks JNPR	Sold	1.7M → 0 −$67.7M
3 iShares Expanded Tech-Software Sector IGV	Sold	553.3K → 0 −$60.6M
4 BW LPG BWLP	Sold	3.3M → 0 −$39.7M
5 Star Bulk Carriers SBLK	Sold	1.9M → 0 −$33.2M

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Analytics

Portfolio insights and performance metrics for VICTORY CAPITAL MANAGEMENT INC

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Sector Allocation

Technology

32.10%

Financial Services

12.20%

Consumer Cyclical

10.40%

Industrials

9.90%

Healthcare

7.90%

Communication Services

5.70%

Utilities

4.00%

Energy

3.70%

ETF

3.70%

Consumer Defensive

3.40%

Basic Materials

3.30%

Real Estate

2.30%

Market Cap Distribution

Mega Cap (> $200B)

30.72%

Large Cap ($10B - $200B)

50.92%

Mid Cap ($2B - $10B)

11.81%

Small Cap ($300M - $2B)

1.60%

Micro Cap ($50M - $300M)

0.02%

Nano Cap (< $50M)

0.44%

N/A (ETF or Unknown)

4.48%

Portfolio Concentration

Top 10 Holdings %

24.46%

Top 20 Holdings %

31.75%

Top 50 Holdings %

44.79%

Top 100 Holdings %

58.29%