Investment objective & strategy
As of Oct. 24, 2025 · prospectusObjective. The Victory Multi-Cap Fund (the Fund) seeks to provide long-term capital appreciation.
Strategy. The Adviser employs a quantitative investment process that identifies equity securities of companies across all market capitalizations. The Adviser uses a disciplined approach that combines value, momentum, quality, and growth factors to construct a diversified portfolio. The Advisers quantitative methodology looks at investment fundamentals to evaluate potential investments from a broad universe of securities. The quantitative analysis focuses on, among other things: ? Quality: Financial strength and earnings stability ? Value: Securities trading below intrinsic value based on fundamental metrics ? Momentum: Price trends indicating positive market recognition ? Growth: Companies with increasing earnings growth trends The Advisers quantitative approach is designed to diversify the Funds holdings and optimize risk-adjusted returns The Adviser attempts to manages portfolio risks by limiting … The Adviser employs a quantitative investment process that identifies equity securities of companies across all market capitalizations. The Adviser uses a disciplined approach that combines value, momentum, quality, and growth factors to construct a diversified portfolio. The Advisers quantitative methodology looks at investment fundamentals to evaluate potential investments from a broad universe of securities. The quantitative analysis focuses on, among other things: ? Quality: Financial strength and earnings stability ? Value: Securities trading below intrinsic value based on fundamental metrics ? Momentum: Price trends indicating positive market recognition ? Growth: Companies with increasing earnings growth trends The Advisers quantitative approach is designed to diversify the Funds holdings and optimize risk-adjusted returns The Adviser attempts to manages portfolio risks by limiting exposure to particular industry sectors and stocks of individual issuers. The Fund generally will sell portfolio holdings when quantitative factors signal that a stocks value is likely to deteriorate materially, when more attractive opportunities are identified, or to manage risks within identified parameters. Although the Fund will be invested primarily in domestic securities, up to 10% of the Funds assets may be invested in foreign securities, including depositary receipts such as American Depositary Receipts (ADRs) and Global Depositary Receipts (GDRs).
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| APPLE INC | — | $39.10M | 7.73% |
| NVIDIA CORP | — | $37.86M | 7.48% |
| ALPHABET INC CL A | — | $24.55M | 4.85% |
| MICROSOFT CORP | — | $24.19M | 4.78% |
| AMAZON.COM INC | — | $13.95M | 2.76% |
| BROADCOM INC | — | $13.68M | 2.70% |
| KLA CORP | — | $11.19M | 2.21% |
| LILLY ELI and CO | — | $11.13M | 2.20% |
| META PLATFORMS INC CL A | — | $10.76M | 2.13% |
| STATE STREET REAL ESTATE SELECT SECTOR SPDR ETF MUTUAL FUND | XLRE | $10.05M | 1.99% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Victory Diversified Stock Fund · SRVEX, VDSCX, GRINX, VDSIX, VDSYX, VDSRX | 67% | 0.78% |
| Large Cap Core Fund · NOLCX | 52% | 0.45% |
| Allspring Disciplined U.S. Core Fund · EVSAX, EVSTX, EVSYX, EVSIX, EVSRX | 49% | 0.42% |
Advisers
| Firm | Role |
|---|---|
| Victory Capital Management Inc. | Adviser |
Footnotes
- Expense ratio as of October 24, 2025, from the fund's prospectus.
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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