VICTORY CAPITAL MANAGEMENT INC

Location
San Antonio, TX
Portfolio Value
Mid $4,349,929,124
Diversification
Diversified
Filing Date
Global Rank
#64 / 8,519 ▼ 10
Top Industry
Semiconductors 8.9%
Period ended 56 days ago
Filed May 15, 2026 · 11d
46 quarters · since Sep 2013

Portfolio Concentration

2,253 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025
Top Position
4.7%
−0.0 pts
Top 5
17.0%
−1.9 pts
Top 10
23.2%
−2.5 pts
HHI
91
Jun 2023 → Mar 2026 · range 49 – 108
Diversified −17

Portfolio Trend

46 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026
Sector % Portfolio Value
Technology 30.5% $37,279,701,160
Financial Services 13.3% $16,232,411,192
Industrials 10.4% $12,658,975,560
Consumer Cyclical 10.2% $12,427,435,281
Healthcare 10.0% $12,232,127,437
Communication Services 7.0% $8,506,820,593
Energy 4.8% $5,832,737,760
Basic Materials 4.5% $5,522,034,346
Utilities 4.0% $4,865,051,111
Consumer Defensive 3.6% $4,349,929,124
Real Estate 1.7% $2,103,667,996
Unclassified 0.1% $76,126,878

Last Quarter's Activity

Export CSV
Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased
25 positions
Ticker Δ Shares Shares Value
CDE +7,246,616 8,506,495 $159,666,911
PR +6,511,940 11,111,228 $236,891,380
B +4,157,614 9,479,096 $386,652,325
CRH +4,025,422 4,248,353 $446,586,867
KEY +3,877,786 11,852,674 $237,646,113
NOW +3,760,494 7,628,519 $797,561,661
GAP +3,183,982 5,439,181 $131,628,180
MBLY +3,075,172 3,099,147 $21,291,139
ACN +2,993,544 4,135,179 $819,964,643
CNC +2,723,120 2,972,260 $97,311,792
PTEN +2,463,744 4,864,652 $52,684,181
DINO +2,427,808 4,222,772 $263,458,745
NFLX +2,349,894 9,293,865 $893,605,119
WMT +2,135,215 4,124,223 $512,558,434
ET +2,120,963 2,158,739 $41,663,662
SHOP +1,990,869 2,546,610 $302,078,878
FOXA +1,861,234 2,285,276 $133,460,118
GM +1,842,993 2,989,417 $222,711,566
MDT +1,660,621 3,279,405 $284,160,443
EYE +1,639,898 1,804,579 $46,738,596
ERAS +1,636,106 1,654,497 $26,769,761
CPRI +1,603,927 1,621,568 $28,572,028
F +1,472,092 8,814,185 $101,715,694
ZS +1,416,460 1,555,104 $218,165,540
ON +1,395,331 1,712,519 $106,039,176

Trimmed

Positions the filer reduced
25 positions
Ticker Δ Shares Shares Value
HBAN 23,125,065 13,201,924 $206,610,110
CTRA 21,145,220 174,300 $6,124,902
DVN 13,074,054 415,425 $20,904,186
BJ 12,803,563 126,725 $12,472,274
MCHP 12,781,520 306,800 $19,822,348
CSX 10,998,710 538,500 $22,105,425
LNT 7,788,368 368,100 $26,414,856
RF 7,572,121 15,264,042 $398,696,777
AMZN 7,491,172 16,957,418 $3,531,721,446
BKR 7,211,582 188,575 $11,512,503
CMS 6,825,263 274,800 $21,318,984
BAC 6,523,171 25,400,756 $1,238,286,855
KNX 6,521,955 312,800 $18,011,024
NVDA 6,281,037 32,786,013 $5,717,880,667
BWA 6,248,787 233,500 $12,669,710
FCX 6,185,918 11,180,678 $657,200,252
ELS 6,066,511 270,300 $16,872,126
CSCO 5,853,076 15,249,836 $1,183,234,775
FLG 5,765,624 450,642 $5,934,955
RRX 5,494,765 80,500 $15,074,430
HOLX 5,258,693 61,419 $4,642,662
LH 5,247,900 108,925 $29,062,279
TFC 5,027,944 26,936,449 $1,238,268,560
TRMB 4,538,954 178,775 $11,661,493
USFD 4,510,927 305,400 $28,160,934

New Positions

Positions the filer opened this quarter
25 positions
Ticker Shares Value
EME 751,050 $554,507,725
MTZ 1,592,523 $512,378,350
MSI 881,810 $382,679,085
CI 1,111,794 $296,571,049
LIN 568,404 $281,791,967
AMRZ 3,886,958 $217,747,386
ANET 1,308,491 $160,656,524
SSB 1,682,076 $155,625,671
UBSI 3,119,919 $129,227,044
LVS 2,238,796 $120,626,328
EVRG 1,435,064 $117,560,442
EXC 2,381,160 $116,724,463
DECK 1,163,446 $116,449,310
UMBF 979,052 $110,427,275
ALL 495,395 $102,715,199
NBIX 731,609 $96,382,169
FCPT 3,926,967 $92,872,769
MGRC 809,924 $89,318,418
FIX 64,058 $88,335,341
SNA 242,984 $88,256,648
FERG 338,710 $79,007,494
LAZ 1,793,435 $76,185,118
RL 218,810 $75,268,451
BRSL 5,834,130 $74,326,816
COHU 2,306,491 $70,624,754

Sold Out

Positions the filer fully exited
25 positions
Ticker Shares Value
BUD 986,538 $63,177,893
CIGI 284,150 $41,772,891
MLCO 2,231,388 $16,891,607
NOMD 1,298,116 $16,239,431
FUBO 511,794 $15,476,650
BZ 341,545 $6,960,687
EXAS 51,839 $5,264,768
JBGS 275,151 $4,680,318
NICE 30,630 $3,462,415
FOXF 179,342 $3,068,541
CVI 102,498 $2,607,549
PLAY 139,422 $2,260,030
OUST 97,346 $2,106,567
INOD 40,034 $2,039,732
BLMN 320,477 $1,977,343
MNDY 11,278 $1,664,181
CVE 75,501 $1,277,476
PRCT 33,540 $1,055,168
TNC 13,641 $1,005,341
ATRC 24,843 $982,789
ZNB 16,809 $974,922
PIPR 9,833 $835,092
SKYT 43,662 $792,901
KOF 8,351 $790,923
DSGX 7,921 $694,354

Portfolio Positions

Export CSV View 13F filing
102 positions · $4,349,929,124 total · Consumer Defensive only · as of Mar 31, 2026
Showing 1–50 of 102 positions by value · page 1 of 3
Ticker Company Shares Value (USD) % of Portfolio Action
WMT
Walmart Inc.
Consumer Defensive
4,124,223 $512,558,434 11.78% History
PEP
Pepsico Inc
Consumer Defensive
2,467,725 $383,213,015 8.81% History
COST
Costco Wholesale Corp /New
Consumer Defensive
380,396 $379,037,986 8.71% History
PG
PROCTER & GAMBLE Co
Consumer Defensive
1,603,882 $231,664,716 5.33% History
MO
Altria Group, Inc.
Consumer Defensive
3,399,862 $224,356,893 5.16% History
CL
Colgate Palmolive Co
Consumer Defensive
2,179,162 $185,729,977 4.27% History
PM
Philip Morris International Inc.
Consumer Defensive
999,564 $165,267,911 3.80% History
KO
Coca Cola Co
Consumer Defensive
2,044,959 $155,519,131 3.58% History
TGT
Target Corp
Consumer Defensive
1,111,324 $134,692,468 3.10% History
MDLZ
Mondelez International, Inc.
Consumer Defensive
1,875,934 $108,128,835 2.49% History
CHEF
Chefs' Warehouse, Inc.
Consumer Defensive
1,710,882 $101,711,934 2.34% History
FMX
Mexican Economic Development Inc
Consumer Defensive
793,765 $88,155,540 2.03% History
SYY
Sysco Corp
Consumer Defensive
1,225,504 $87,415,200 2.01% History
MNST
Monster Beverage Corp
Consumer Defensive
1,034,562 $74,964,362 1.72% History
KHC
Kraft Heinz Co
Consumer Defensive
3,266,212 $73,457,107 1.69% History
DOLE
Dole plc
Consumer Defensive
4,985,203 $71,238,550 1.64% History
KMB
Kimberly Clark Corp
Consumer Defensive
711,696 $68,657,313 1.58% History
ANDE
Andersons, Inc.
Consumer Defensive
829,635 $59,551,200 1.37% History
KR
Kroger Co
Consumer Defensive
808,780 $58,523,320 1.35% History
LRN
Stride, Inc.
Consumer Defensive
656,219 $57,858,829 1.33% History
HSY
Hershey Co
Consumer Defensive
275,116 $57,193,865 1.31% History
PSMT
Pricesmart Inc
Consumer Defensive
367,943 $55,375,421 1.27% History
KDP
Keurig Dr Pepper Inc.
Consumer Defensive
2,051,628 $54,019,365 1.24% History
SFM
Sprouts Farmers Market, Inc.
Consumer Defensive
653,001 $50,365,967 1.16% History
DG
Dollar General Corp
Consumer Defensive
385,989 $45,828,473 1.05% History
TAP
Molson Coors Beverage Co
Consumer Defensive
954,178 $41,086,904 0.94% History
CELH
Celsius Holdings, Inc.
Consumer Defensive
1,097,936 $38,954,769 0.90% History
DAR
Darling Ingredients Inc.
Consumer Defensive
607,521 $37,575,173 0.86% History
IPAR
Interparfums Inc
Consumer Defensive
411,478 $37,378,661 0.86% History
TSN
Tyson Foods, Inc.
Consumer Defensive
562,373 $36,031,238 0.83% History
PFGC
Performance Food Group Co
Consumer Defensive
387,829 $33,221,432 0.76% History
GHC
Graham Holdings Co
Consumer Defensive
28,046 $29,651,913 0.68% History
CLX
Clorox Co /De/
Consumer Defensive
276,913 $28,696,494 0.66% History
USFD
US Foods Holding Corp.
Consumer Defensive
305,400 $28,160,934 0.65% History
UNFI
United Natural Foods Inc
Consumer Defensive
607,787 $27,386,882 0.63% History
DLTR
Dollar Tree, Inc.
Consumer Defensive
240,610 $26,349,201 0.61% History
HRL
Hormel Foods Corp /De/
Consumer Defensive
1,109,182 $25,122,972 0.58% History
POST
Post Holdings, Inc.
Consumer Defensive
252,108 $24,923,396 0.57% History
COKE
Coca-Cola Consolidated, Inc.
Consumer Defensive
121,536 $23,303,312 0.54% History
STZ
Constellation Brands, Inc.
Consumer Defensive
152,606 $22,890,900 0.53% History
BG
Bunge Global SA
Consumer Defensive
177,195 $22,539,204 0.52% History
CALM
Cal-Maine Foods Inc
Consumer Defensive
268,173 $21,225,892 0.49% History
MKC
Mccormick & Co Inc
Consumer Defensive
398,528 $20,101,752 0.46% History
OLLI
Ollie's Bargain Outlet Holdings, Inc.
Consumer Defensive
216,726 $19,947,461 0.46% History
GIS
General Mills Inc
Consumer Defensive
533,648 $19,862,378 0.46% History
ADM
Archer-Daniels-Midland Co
Consumer Defensive
262,200 $19,059,318 0.44% History
KVUE
Kenvue Inc.
Consumer Defensive
1,087,990 $18,756,947 0.43% History
CCEP
COCA-COLA EUROPACIFIC PARTNERS plc
Consumer Defensive
202,801 $18,387,966 0.42% History
UVV
Universal Corp /Va/
Consumer Defensive
315,019 $16,601,501 0.38% History
INGR
Ingredion Inc
Consumer Defensive
145,983 $16,446,444 0.38% History
Page 1 of 3
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