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 $158.22B across 2,375 long positions as of Q3 2025 with NVDA as the largest holding (4% allocation).

CEODavid Craig Brown

Portfolio Value: $158.22B
Positions: 2,375
Top Holding: NVDA at 3.9%
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 (20.2% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Nvidia NVDA	Semiconductors Technology	$6.2B	3.90%	+$250.9M Bought	0.14% 35.1M shares	Q2 2015 Held for 10y 6m
2 Microsoft MSFT	Software - Infrastructure Technology	$5.8B	3.67%	+$230.7M Bought	0.16% 11.6M shares	Q3 2013 Held for 12y 3m
3 Apple AAPL	Consumer Electronics Technology	$4.8B	3.03%	+$117.6M Bought	0.13% 19.5M shares	Q3 2013 Held for 12y 3m
4 Amazon AMZN	Specialty Retail Consumer Cyclical	$4.3B	2.70%	-$68.1M Sold	0.18% 19.3M shares	Q3 2013 Held for 12y 3m
5 Alphabet Inc. GOOGL	Internet Content & Information Communication Services	$2.6B	1.66%	+$84.4M Bought	0.09% 10.8M shares	Q3 2013 Held for 12y 3m
6 Broadcom Inc. AVGO	Semiconductors Technology	$2.0B	1.27%	-$125.0M Sold	0.13% 6.1M shares	Q4 2014 Held for 11 years
7 Alphabet Inc. GOOG	Internet Content & Information Communication Services	$1.8B	1.11%	-$24.9M Sold	0.06% 7.2M shares	Q2 2014 Held for 11y 6m
8 Eli Lilly LLY	Drug Manufacturers - General Healthcare	$1.6B	0.98%	+$500.5M Bought	0.26% 2.3M shares	Q2 2014 Held for 11y 6m
9 Meta Platforms, Inc. META	Internet Content & Information Communication Services	$1.5B	0.95%	-$80.7M Sold	0.08% 2.0M shares	Q3 2013 Held for 12y 3m
10 Visa V	Financial - Credit Services Financial Services	$1.4B	0.91%	+$176.5M Bought	0.23% 4.4M shares	Q3 2013 Held for 12y 3m

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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

$158.22B

Prior: $153.27B

Q/Q Change

+3.23%

+$4.9B

Net Flows % of MV

-2.97%

Turnover Ratio

10.87%

New Purchases

37 stocks

$198.0M

Added To

914 stocks

+$15.3B

Sold Out Of

158 stocks

$507.4M

Reduced Holdings

1,338 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

27.40%

Financial Services

13.10%

Consumer Cyclical

11.10%

Industrials

10.50%

Healthcare

8.40%

Communication Services

6.10%

Utilities

4.30%

Energy

4.00%

ETF

3.90%

Consumer Defensive

3.60%

Basic Materials

3.50%

Real Estate

2.50%

Market Cap Distribution

Mega Cap (> $200B)

32.83%

Large Cap ($10B - $200B)

47.55%

Mid Cap ($2B - $10B)

12.62%

Small Cap ($300M - $2B)

1.71%

Micro Cap ($50M - $300M)

0.02%

Nano Cap (< $50M)

0.47%

N/A (ETF or Unknown)

4.79%

Portfolio Concentration

Top 10 Holdings %

20.18%

Top 20 Holdings %

27.71%

Top 50 Holdings %

41.36%

Top 100 Holdings %

55.65%