Institutional Manager · CIK 0001040188
VICTORY CAPITAL MANAGEMENT INC
San Antonio, TX · File #028-06354
Latest AUM
$177.20B
Positions
2,583
Top-10 Concentration
50.6%
Filings
9
Portfolio Value Over Time
2024-03
2024-06
2024-09
2024-12
2025-03
2025-06
2025-09
2025-12
Biggest QoQ Changes
Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.
| Action | Issuer | Ticker / CUSIP | Δ Shares | Flow ($) | Price Effect |
|---|---|---|---|---|---|
| ADD | AMAZON COM INC | AMZN | +5,171,543 | +$1.19B | +$174.2M |
| ADD | BANK AMERICA CORP | 060505104 | +15,316,152 | +$842.4M | +$57.2M |
| ADD | NRG ENERGY INC | NRG | +4,916,653 | +$782.9M | -$7.3M |
| ADD | APPLE INC | AAPL | +2,769,814 | +$753.0M | +$500.8M |
| ADD | NVIDIA CORPORATION | NVDA | +3,999,428 | +$745.9M | +$369.5M |
| ADD | VISA INC | V | +2,116,463 | +$742.3M | +$98.1M |
| REDUCE | ORACLE CORP | ORCL-PD | -3,636,051 | -$708.7M | -$383.5M |
| ADD | MICROSOFT CORP | MSFT | +1,399,040 | +$676.6M | -$171.4M |
| ADD | CONSTELLATION ENERGY CORP | CEG | +1,783,796 | +$630.2M | +$9.4M |
| ADD | NETFLIX INC | NFLX | +6,378,224 | +$598.0M | -$625.2M |
Sector Allocation
Filing History
- 13F COMBINATION REPORTQ/E Dec 20252,583 pos · $177.20B
- 13F COMBINATION REPORTQ/E Sep 20252,579 pos · $171.01B
- 13F COMBINATION REPORTQ/E Jun 20253,239 pos · $155.07B
- 13F COMBINATION REPORTQ/E Mar 20252,748 pos · $97.74B
- 13F COMBINATION REPORTQ/E Dec 20242,746 pos · $101.73B
- 13F COMBINATION REPORTQ/E Sep 20242,765 pos · $103.81B
- 13F COMBINATION REPORTQ/E Jun 20242,753 pos · $99.75B
- 13F COMBINATION REPORTQ/E Mar 20242,753 pos · $102.43B
- 13F COMBINATION REPORTQ/E Dec 20232,805 pos · $87.00B
Top 20 Holdings — Dec 2025
| # | Issuer | Ticker | Shares | Value | % of Portfolio |
|---|---|---|---|---|---|
| 1 | NVIDIA CORPORATION | NVDA | 39,067,050 | $7.29B | 9.18% |
| 2 | MICROSOFT CORP | MSFT | 13,047,023 | $6.31B | 7.95% |
| 3 | APPLE INC | AAPL | 22,254,786 | $6.05B | 7.62% |
| 4 | AMAZON COM INC | AMZN | 24,448,590 | $5.64B | 7.11% |
| 5 | ALPHABET INC | GOOG | 12,585,134 | $3.94B | 4.96% |
| 6 | ELI LILLY & CO | LLY | 2,683,391 | $2.88B | 3.63% |
| 7 | VISA INC | V | 6,508,089 | $2.28B | 2.88% |
| 8 | ALPHABET INC | GOOG | 6,521,467 | $2.05B | 2.58% |
| 9 | BROADCOM INC | AVGO | 5,651,908 | $1.96B | 2.47% |
| 10 | BANK AMERICA CORP | 060505104 | 31,923,927 | $1.76B | 2.21% |
| 11 | CISCO SYS INC | CSCO | 21,102,912 | $1.63B | 2.05% |
| 12 | TRUIST FINL CORP | 89832Q109 | 31,554,193 | $1.55B | 1.96% |
| 13 | MARTIN MARIETTA MATLS INC | 573284106 | 2,448,928 | $1.52B | 1.92% |
| 14 | VERTEX PHARMACEUTICALS INC | VRTX | 3,356,766 | $1.52B | 1.92% |
| 15 | UNITED PARCEL SERVICE INC | UPS | 13,818,314 | $1.37B | 1.73% |
| 16 | ADVANCED MICRO DEVICES INC | AMD | 6,351,656 | $1.36B | 1.71% |
| 17 | INTERNATIONAL BUSINESS MACHS | INTR | 4,582,818 | $1.36B | 1.71% |
| 18 | META PLATFORMS INC | META | 2,017,012 | $1.33B | 1.68% |
| 19 | LABCORP HOLDINGS INC | LH | 5,270,425 | $1.32B | 1.67% |
| 20 | SYNOPSYS INC | SNPS | 2,730,643 | $1.28B | 1.62% |