§ 13F · FUND PROFILE
VICTORY CAPITAL MANAGEMENT INC.
Multi-boutique active management
AUM · $155069.7T (13F)Positions · 3239Turnover · 98% · Q4Filed · Feb 13, 2026
CONCENTRATION
23%
Top 10 holdings
NEW BUYS
+131
+$448.2T deployed
EXITS
0
No exits
SECTOR SHIFT
SEMICONDUCTORS → OTHER
-5pp · +3pp
3YR HIT RATE
—
Top-5 overlap
§ 01 · TOP HOLDINGS
The book · Q4 2025
FILED FEB 13, 2026
| # | Ticker | Name | Shares | $ value | % port | Δ Q4 |
|---|---|---|---|---|---|---|
| 1 | NVDA | NVIDIA CORPORATION | 39.07M | $7286.0T | 4.1% | +11% |
| 2 | MSFT | MICROSOFT CORP | 13.05M | $6309.8T | 3.6% | +12% |
| 3 | AAPL | APPLE INC | 22.25M | $6050.2T | 3.4% | +14% |
| 4 | AMZN | AMAZON COM INC | 24.45M | $5643.2T | 3.2% | +27% |
| 5 | GOOGL | ALPHABET INC | 12.59M | $3939.1T | 2.2% | +16% |
| 6 | LLY | ELI LILLY & CO | 2.68M | $2883.8T | 1.6% | +16% |
| 7 | V | VISA INC | 6.51M | $2282.5T | 1.3% | +48% |
| 8 | GOOG | ALPHABET INC | 6.52M | $2046.5T | 1.2% | −9% |
| 9 | AVGO | BROADCOM INC | 5.65M | $1956.1T | 1.1% | −7% |
| 10 | BAC | BANK AMERICA CORP | 31.92M | $1755.8T | 1.0% | +92% |
§ 02 · SECTOR ALLOCATION
Where the money is
Other52.6% (+3pp)
Technology13.1% (±0)
Semiconductors9.3% (−5pp)
Retail8.1% (+1pp)
Financial Services5.9% (+1pp)
Media5.8% (+1pp)
§ 03 · THE VICTORY SIGNAL
AC read
VICTORY CAPITAL MANAGEMENT INC is a Quality / Compounder fund managing $155069729.0 trillion in assets. The fund runs a massive portfolio of 3,239 positions, broad diversification across holdings. Trading activity is aggressive at 98% quarterly turnover, with 131 new positions and 0 exits last quarter. Top sector allocations: Other (53%), Technology (13%), Semiconductors (9%).
Read the full dossier →§ 04 · FILING HISTORY
Q-by-Q deltas
1 FILINGS
Q4 2025
Busy quarter
+131 buys · −0 exits · 2409 changed
Q3 2025
Steady book
+0 buys · −0 exits · 0 changed
Q2 2025
Steady book
+0 buys · −0 exits · 0 changed
Q1 2025
Steady book
+0 buys · −0 exits · 0 changed