Earnings summaries and quarterly performance for Victory Capital Holdings.
Executive leadership at Victory Capital Holdings.
David C. Brown
Detailed
Chief Executive Officer
CEO
MS
Mannik S. Dhillon
President, Investment Franchises and Solutions; Head of Product and Strategy
MD
Michael D. Policarpo
President, Chief Financial Officer and Chief Administrative Officer
NG
Nina Gupta
Chief Legal Officer and Head of Human Resource Administration
Board of directors at Victory Capital Holdings.
AH
Alan H. Rappaport
Detailed
Director
CB
Céline Boyer-Chammard
Detailed
Director
DC
Dominique Carrel-Billiard
Detailed
Director
KH
Karin Hirtler-Garvey
Detailed
Director
LD
Lawrence Davanzo
Detailed
Director
MJ
Mary Jackson
Detailed
Director
RM
Richard M. DeMartini
Detailed
Lead Independent Director
RV
Robert V. Delaney, Jr.
Detailed
Director
Research analysts who have asked questions during Victory Capital Holdings earnings calls.
MC
Michael Cho
JPMorgan Chase & Co.
6 questions for VCTR
Also covers: ENV, FHI, FRGE +4 more
Alexander Blostein
Goldman Sachs
5 questions for VCTR
Also covers: AB, AMG, AMP +31 more
KL
Kenneth Lee
RBC Capital Markets
5 questions for VCTR
Also covers: AAMI, AMP, APAM +17 more
Michael Cyprys
Morgan Stanley
4 questions for VCTR
Also covers: AAMI, AMP, AMTD +30 more
Ben Budish
Barclays PLC
3 questions for VCTR
Also covers: AB, APO, ARES +23 more
Etienne Ricard
BMO Capital Markets
3 questions for VCTR
Also covers: SII
Craig Siegenthaler
Bank of America
2 questions for VCTR
Also covers: AB, AMP, AMTD +26 more
AB
Adam Beatty
UBS
1 question for VCTR
Also covers: BRDG
Benjamin Budish
Barclays PLC
1 question for VCTR
Also covers: AB, APO, ARES +24 more
BR
Ben Rubin
UBS
1 question for VCTR
Also covers: BAM, CNS, EVR +5 more
BH
Brennan Hawken
UBS Group AG
1 question for VCTR
Also covers: AMP, AMTD, APO +30 more
MH
Matthew Howlett
B. Riley Securities
1 question for VCTR
Also covers: AOMR, BRSP, BUR +9 more
Randy Binner
B. Riley Securities
1 question for VCTR
Also covers: ARR, BRSP, BUR +13 more
Recent press releases and 8-K filings for VCTR.
Victory Capital Holdings Reports Record 2025 Performance and Outlines Growth Strategy
VCTR
M&A
Share Buyback
New Projects/Investments
- Victory Capital achieved record highs in gross sales, revenue, EPS, and AUM in 2025, with AUM ending the year at $317 billion.
- The company is 90% complete with the integration of the Amundi Pioneer acquisition, having realized $97 million of the planned $110 million in net expense synergies, with the remaining $13 million expected by calendar year 2026.
- Victory Capital's future growth strategy focuses on M&A, targeting asset managers with $50 billion to $200 billion in AUM, and aims for a public goal of $1 trillion in AUM primarily through inorganic growth.
- Capital allocation priorities are acquisitions, followed by aggressive stock buybacks due to perceived undervaluation, and maintaining its dividend, with leverage currently at its lowest as a public company at around 1x.
- The company is also expanding its international distribution channel, having launched five UCITS and started selling U.S.-listed ETFs internationally in 2026, with key target regions including Asia (ex-Japan and Japan), Europe, and the Middle East.
10 hours ago
Victory Capital Holdings discusses 2025 performance, M&A strategy, and $1 trillion AUM goal
VCTR
M&A
Guidance Update
Share Buyback
- Victory Capital achieved record highs in gross sales, revenue, EPS, and AUM in 2025, ending the year with $317 billion in AUM.
- The company is 90% complete with the Amundi Pioneer acquisition integration, having achieved $97 million of the planned $110 million in net expense synergies, with the remaining $13 million to be completed through calendar year 2026.
- Key growth drivers for the next 12-24 months include completing the Pioneer integration, expanding its international distribution platform (with new UCITS and U.S.-listed ETFs launched in 2026), and pursuing M&A, targeting platforms with $50 billion-$200 billion in AUM.
- Victory Capital aims to reach $1 trillion in AUM, primarily through M&A, supported by its lowest leverage as a public company (around 1x). The company also plans aggressive stock buybacks and continued dividend increases.
10 hours ago
Victory Capital Holdings Discusses 2025 Performance, Strategic Drivers, and AUM Growth Targets
VCTR
M&A
Share Buyback
New Projects/Investments
- Victory Capital achieved record highs in gross sales, revenue, EPS, and AUM in 2025, ending the year with $317 billion in AUM.
- The Amundi Pioneer acquisition integration is 90% complete, with $97 million of the planned $110 million net expense synergies realized, and the remaining $13 million expected to be completed through calendar year 2026.
- Strategic drivers for the next 12-24 months include completing the Pioneer integration, building out the distribution platform (especially internationally with new UCITS and U.S.-listed ETFs), and pursuing M&A, targeting asset managers with $50 billion-$200 billion in AUM.
- Victory Capital aims to reach $1 trillion in AUM, primarily through larger M&A, supplemented by low single-digit organic growth and market appreciation.
- Capital allocation priorities are acquisitions first, followed by aggressive share buybacks due to perceived undervaluation, and maintaining its dividend, with leverage currently at 1x.
10 hours ago
Victory Capital Reports Strong Q4 and Full-Year 2025 Results
VCTR
Earnings
Share Buyback
Dividends
- Victory Capital reported Q4 2025 revenue of $374.1MM, Adjusted EBITDA of $197.5MM, and Adjusted earnings per diluted share with tax benefit of $1.78.
- For the full year 2025, the company achieved record highs in Gross Sales, AUM, Revenue, EBITDA, Earnings Per Share, and Cash Flow from Operations, with full-year revenue up 46% from 2024.
- Total client assets reached $317Bn in Q4 2025, and ETF AUM increased 85% year-over-year to $19Bn.
- The company returned $93MM to shareholders in Q4 2025, contributing to a full-year capital return of $366MM, and declared a quarterly cash dividend of $0.49 per share.
6 days ago
Victory Capital Holdings, Inc. Reports Record Q4 and Full-Year 2025 Results
VCTR
Earnings
M&A
Dividends
- Victory Capital Holdings, Inc. reported record financial results for the quarter and year ended December 31, 2025, achieving record quarterly and annual levels of gross flows, revenue, and earnings.
- Assets Under Management (AUM) reached $313.8 billion at December 31, 2025, significantly increasing from $171.9 billion at December 31, 2024, following the substantially complete integration of Pioneer Investments which achieved $97 million in net expense synergies by year-end 2025.
- The company returned a record $366 million in capital to shareholders during 2025, including $93 million in Q4 2025 through share repurchases and dividends, and the Board authorized a regular quarterly cash dividend of $0.49 per share.
6 days ago
Victory Capital Holdings Reports Record Q4 and Full-Year 2025 Results
VCTR
Earnings
Dividends
Share Buyback
- Victory Capital Holdings reported record financial results for the fourth quarter and full year ended December 31, 2025.
- For Q4 2025, revenue was $374.1 million and GAAP net income per diluted share was $1.32.
- For the full year 2025, revenue increased to $1.3 billion and adjusted net income with tax benefit per diluted share was $6.38.
- Total client assets (AUM) reached $316.6 billion as of December 31, 2025.
- The company returned a record $366 million to shareholders during 2025, and the Board authorized a regular quarterly cash dividend of $0.49 per share.
6 days ago
Victory Capital Holdings Reports Record 2025 Financials and Nears Amundi/Pioneer Integration Completion
VCTR
Earnings
M&A
Share Buyback
- Victory Capital Holdings (VCTR) reported a landmark year in 2025, achieving $1.3 billion in annual revenue for the first time , and reaching record adjusted EBITDA of $197.5 million and record adjusted EPS of $1.78 in Q4 2025. The company's Adjusted EBITDA margin increased to 52.8% in Q4 2025.
- The company ended 2025 with $317 billion in total client assets and record-high AUM in Q4 2025. While long-term gross sales reached an all-time high of $17.1 billion in Q4 2025 , long-term net flows were -$2.1 billion due to one-time items. However, key growth areas such as Pioneer's strategies, the international channel, and VictoryShares ETFs experienced positive net flows.
- VCTR is nearing completion of the Amundi/Pioneer Investments integration, having realized 88% of the targeted $110 million in net expense synergies on a run-rate basis by year-end 2025, with full realization expected in 2026. The acquisition has significantly globalized the business, with 17% of AUM from clients outside the U.S., and the international channel has been net flow positive since the acquisition's closing.
- In Q4 2025, the company repurchased 814,000 shares for $51.6 million, with over $300 million remaining under its current $500 million authorization. With a net leverage ratio of 1.0x and substantial liquidity, VCTR is actively pursuing inorganic growth opportunities, maintaining a historical cadence of approximately one acquisition every 1.5 years.
7 days ago
Victory Capital Holdings Reports Record 2025 Financial Performance and Nears Completion of Pioneer Integration
VCTR
Earnings
M&A
Share Buyback
- Victory Capital Holdings reported record financial performance for 2025, with annual revenue exceeding $1 billion and Q4 2025 adjusted EBITDA reaching $197.5 million and adjusted diluted EPS of $1.78.
- The company achieved a record-high AUM of $317 billion by year-end 2025. While Q4 2025 saw long-term net outflows of -$2.1 billion due to one-time items, the international distribution channel and VictoryShares ETF platform experienced positive net flows.
- The integration of Amundi's Pioneer Investments is nearly complete, with 88% of the $110 million net expense synergy target realized on a run-rate basis, expected to be fully achieved in 2026.
- Victory Capital demonstrated strong capital allocation, ending Q4 2025 with a net leverage ratio of 1.0x and returning $366 million to shareholders in 2025, including $51.6 million in share repurchases during Q4 2025.
7 days ago
Victory Capital Holdings Reports Record Q4 and Full-Year 2025 Financial Results
VCTR
Earnings
M&A
Share Buyback
- Victory Capital Holdings achieved record financial performance in Q4 and full-year 2025, with annual revenue surpassing $1 billion for the first time, reaching $1.3 billion for the full year. Q4 2025 saw revenue of $374.1 million, record adjusted EBITDA of $197.5 million with a 52.8% margin, and record adjusted EPS of $1.78.
- The company ended 2025 with record-high AUM of $317 billion and achieved its highest-ever quarterly long-term gross sales of $17.1 billion. However, Q4 2025 experienced long-term net outflows of -$2.1 billion due to one-time client reallocations and a large platform redemption.
- Integration of Pioneer Investments is nearing completion, with $97 million of the targeted $110 million in net expense synergies achieved on a run-rate basis by year-end 2025, ahead of schedule for full realization in 2026. The acquisition has globalized the business, with 17% of AUM from outside the U.S..
- Victory Capital demonstrated strong capital allocation, repurchasing 814,000 shares for $51.6 million in Q4 2025 and returning $366 million to shareholders for the full year. The company maintains a strong balance sheet with a net leverage ratio of 1.0 times and $164 million in cash , positioning it for future inorganic growth.
7 days ago
Victory Capital Reports December 2025 Client Assets
VCTR
Earnings
Demand Weakening
- Victory Capital Holdings, Inc. reported Total Client Assets of $316.6 billion as of December 31, 2025.
- Total Assets Under Management (AUM) for the company stood at $313.8 billion as of December 31, 2025.
- For the fourth quarter of 2025, the company experienced long-term AUM net outflows of $2,089 million.
- Victory Capital is scheduled to report its fourth-quarter 2025 financial results on February 4, 2026, and will host a conference call to discuss these results on February 5, 2026.
Jan 13, 2026, 9:35 PM
Quarterly earnings call transcripts for Victory Capital Holdings.
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