---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-25-084416"
form_type: "8-K"
ticker: "VCTR"
cik: "0001570827"
company_name: "Victory Capital Holdings, Inc."
filed_at: "2025-06-10T23:59:59+00:00"
generated_at: "2026-05-19T15:36:36.740882+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Victory Capital reports May AUM of $289.4B; guides Q2 fee rate 46-47 bps

## Summary
- Total AUM $289.4B as of May 31, 2025, up from $279.3B in April; average AUM $285.5B.
- Issued 5.4M preferred shares to Amundi on May 23; estimated fully diluted shares ~85M for Q2.
- Post-Pioneer integration, consolidated fee rate guidance 46-47 bps; no EBITDA impact from net accounting.
- Pioneer Fund administration reimbursements and broker-dealer commissions now shown on net basis.

## SEC filing metadata
- accession: 0000950170-25-084416
- form_type: 8-K
- ticker: VCTR
- cik: 0001570827
- company_name: Victory Capital Holdings, Inc.
- filed_at: 2025-06-10T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1570827/000095017025084416/0000950170-25-084416-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1570827/000095017025084416/vctr-20250610.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-25-084416
- JSON: https://secwatch.observer/filing/0000950170-25-084416.json
- Plain text: https://secwatch.observer/filing/0000950170-25-084416.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.