Investment objective & strategy
As of Aug. 27, 2025 · prospectusObjective. The Victory Small Cap Stock Fund (the Fund) seeks long-term growth of capital.
Strategy. The Fund normally invests at least 80% of its assets in equity securities of companies with small market capitalizations. This 80% policy may be changed upon at least 60 days prior written notice to shareholders. Although the Fund invests primarily in U.S. securities, it may invest up to 20% of its total assets in foreign securities, including securities issued in emerging markets. The Fund employs a multi-manager structure with the underlying managers implementing fundamentally driven security selection investment processes that focus on companies that may exhibit attractive levels of quality, value, and/or growth. The Fund defines small-cap stocks as those of companies that have a market capitalization equal to or lower than that of the largest market capitalization stock in … The Fund normally invests at least 80% of its assets in equity securities of companies with small market capitalizations. This 80% policy may be changed upon at least 60 days prior written notice to shareholders. Although the Fund invests primarily in U.S. securities, it may invest up to 20% of its total assets in foreign securities, including securities issued in emerging markets. The Fund employs a multi-manager structure with the underlying managers implementing fundamentally driven security selection investment processes that focus on companies that may exhibit attractive levels of quality, value, and/or growth. The Fund defines small-cap stocks as those of companies that have a market capitalization equal to or lower than that of the largest market capitalization stock in either the S&P SmallCap 600 Index or the Russell 2000 Index at the time of purchase. Market capitalization of the companies may change with market conditions and with the composition of each index.
Top holdings
As of Jan. 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| STERLING INFRASTRUCTURE INC | — | $7.53M | 0.88% |
| MONEYMKT | FGTXX | $7.25M | 0.85% |
| HSBC US GOVT MMKT-I | — | $7.25M | 0.85% |
| Invesco Government & Agency Portfolio, Institutional Class | — | $7.25M | 0.85% |
| MSILF-GOVT-INS | MVRXX | $7.25M | 0.85% |
| GATES INDUSTRIAL | — | $6.44M | 0.75% |
| BLACK HILLS CORP | — | $6.03M | 0.71% |
| CASELLA WASTE SYS INC CL A | — | $5.94M | 0.70% |
| MODINE MFG CO | — | $5.89M | 0.69% |
| TAYLOR MORRISON HOME CORP | — | $5.74M | 0.67% |
Portfolio moves
Oct 31, 2025 → Jan 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. |
|---|---|---|
| Columbia Research Enhanced Small Cap ETF · RESM | 33% | 0.32% |
| VANGUARD RUSSELL 2000 INDEX FUND · VRTIX, VTWO | 33% | 0.05% |
| Small Cap Index Trust · JAEWX, JESIX, JAJOX | 32% | 0.48% |
Advisers
| Firm | Role |
|---|---|
| Victory Capital Management Inc. | Adviser |
| Granahan Investment Management, Inc. | Sub-adviser |
Footnotes
- Expense ratio as of August 27, 2025, from the fund's prospectus.
- Net assets and holdings count as of January 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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