Victory Capital Holdings, Inc.
VCTR · Investment Advice · 62.5M shares · -2%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $123M (gross $139M, SBC $17M)
Grade
B76Victory Capital — high-margin multi-boutique asset manager.
Strengths
- Operating margin 36.6% (91st pct), net margin (75th), ROE 13.6%
- Disciplined cost model; diversified investment franchises
Risks
- Market-linked AUM and outflow risk; leverage (D/E 0.4)
- Integration (Amundi US) execution
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Strong balance sheetStrong balance sheet — $164M cash & investments
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
36.6%
Net margin
25.3%
Return on equity
13.6%
Return on assets
7.8%
ROIC
11.1%
Revenue growth (QoQ)
3.7%
Debt / equity
0.4×
Net debt / EBITDA
1.5×
Free cash flow
$381M
EBITDA
$551M
Tangible book value
-$1.3B
Cash & investments
$164M
Stock comp / revenue
1.6%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-29 | Crestview Partners II GP, L.P. | Other | 2.1M | — |
| 2026-05-29 | Crestview Partners II GP, L.P. | Other | 40K | — |
| 2026-04-10 | Davanzo Lawrence | Grant | 424 | $67.79 |
| 2026-04-10 | DEMARTINI RICHARD M | Grant | 534 | $67.79 |
| 2026-04-10 | Hirtler-Garvey Karin | Grant | 424 | $67.79 |
| 2026-04-10 | Crestview Partners II GP, L.P. | Grant | 424 | $67.79 |
| 2026-04-10 | Jackson Mary M. | Grant | 424 | $67.79 |
| 2026-04-10 | Rappaport Alan | Grant | 977 | $67.79 |
| 2026-03-18 | Amundi | Disposition | 100K | — |
| 2026-03-15 | Brown David Craig | Tax withheld | 50K | $66.67 |
| 2026-03-15 | Policarpo Michael Dennis | Tax withheld | 28K | $66.67 |
| 2026-03-15 | Policarpo Michael Dennis | Grant | 62K | $66.67 |
| 2026-03-15 | Sipp Thomas Michael | Grant | 40K | $66.67 |
| 2026-03-15 | Sipp Thomas Michael | Grant | 15K | $66.67 |
| 2026-03-15 | Brown David Craig | Grant | 102K | $66.67 |
| 2026-03-15 | Dhillon Mannik S. | Grant | 16K | $66.67 |
| 2026-03-15 | Gupta Nina | Grant | 27K | $66.67 |
| 2026-03-15 | Dhillon Mannik S. | Tax withheld | 7.7K | $66.67 |
| 2026-03-15 | Gupta Nina | Tax withheld | 17K | $66.67 |
| 2026-01-12 | Rappaport Alan | Grant | 961 | $68.93 |
| 2026-01-12 | DEMARTINI RICHARD M | Grant | 525 | $68.93 |
| 2026-01-12 | Jackson Mary M. | Grant | 417 | $68.93 |
| 2026-01-12 | Davanzo Lawrence | Grant | 417 | $68.93 |
| 2026-01-12 | Hirtler-Garvey Karin | Grant | 417 | $68.93 |
| 2026-01-12 | Crestview Partners II GP, L.P. | Grant | 417 | $68.93 |
| 2025-10-29 | Amundi | Disposition | 150K | — |
| 2025-10-10 | Crestview Partners II GP, L.P. | Grant | 435 | $65.98 |
| 2025-10-10 | Rappaport Alan | Grant | 1.0K | $65.98 |
| 2025-10-10 | DEMARTINI RICHARD M | Grant | 549 | $65.98 |
| 2025-10-10 | Jackson Mary M. | Grant | 435 | $65.98 |
| 2025-10-10 | Hirtler-Garvey Karin | Grant | 435 | $65.98 |
| 2025-10-10 | Davanzo Lawrence | Grant | 435 | $65.98 |
| 2025-10-10 | Crestview Partners II GP, L.P. | Grant | 435 | $65.98 |
| 2025-09-30 | Davanzo Lawrence | Gift | 21K | — |
| 2025-08-20 | Crestview Partners II GP, L.P. | Other | 22K | — |
| 2025-08-20 | Crestview Partners II GP, L.P. | Other | 3.5M | — |
| 2025-08-20 | Crestview Partners II GP, L.P. | Other | 39K | — |
| 2025-08-20 | Crestview Partners II GP, L.P. | Other | 2.4K | — |
| 2025-07-16 | Amundi | Disposition | 89K | — |
| 2025-07-10 | HURST ROBERT J/NY | Grant | 10 | $66.24 |
| 2025-07-10 | Rappaport Alan | Grant | 1.0K | $66.24 |
| 2025-07-10 | Hirtler-Garvey Karin | Grant | 434 | $66.24 |
| 2025-07-10 | Davanzo Lawrence | Grant | 434 | $66.24 |
| 2025-07-10 | Jackson Mary M. | Grant | 434 | $66.24 |
| 2025-07-10 | DEMARTINI RICHARD M | Grant | 547 | $66.24 |
| 2025-07-10 | Crestview Partners II GP, L.P. | Grant | 434 | $66.24 |
| 2025-06-15 | Sipp Thomas Michael | Grant | 49K | $61.60 |
| 2025-04-10 | Jackson Mary M. | Grant | 531 | $54.06 |
| 2025-04-10 | HURST ROBERT J/NY | Grant | 1.1K | $54.06 |
| 2025-04-10 | DEMARTINI RICHARD M | Grant | 670 | $54.06 |
| 2025-04-10 | Davanzo Lawrence | Grant | 531 | $54.06 |
| 2025-04-10 | Hirtler-Garvey Karin | Grant | 531 | $54.06 |
| 2025-04-10 | Rappaport Alan | Grant | 1.2K | $54.06 |
| 2025-04-10 | Crestview Partners II GP, L.P. | Grant | 531 | $54.06 |
| 2025-04-01 | Amundi | Other | 3.3M | — |
| 2025-03-15 | Dhillon Mannik S. | Grant | 19K | $57.97 |
| 2025-03-15 | Dhillon Mannik S. | Tax withheld | 5.2K | $57.97 |
| 2025-03-15 | Gupta Nina | Grant | 30K | $57.97 |
| 2025-03-15 | Gupta Nina | Tax withheld | 12K | $57.97 |
| 2025-03-15 | Policarpo Michael Dennis | Grant | 82K | $57.97 |
| 2025-03-15 | Policarpo Michael Dennis | Tax withheld | 19K | $57.97 |
| 2025-03-15 | Brown David Craig | Grant | 169K | $57.97 |
| 2025-03-15 | Brown David Craig | Tax withheld | 34K | $57.97 |
| 2025-01-10 | DEMARTINI RICHARD M | Grant | 468 | $61.36 |
| 2025-01-10 | HURST ROBERT J/NY | Grant | 753 | $61.36 |
| 2025-01-10 | Davanzo Lawrence | Grant | 407 | $61.36 |
| 2025-01-10 | Jackson Mary M. | Grant | 407 | $61.36 |
| 2025-01-10 | Rappaport Alan | Grant | 855 | $61.36 |
| 2025-01-10 | Hirtler-Garvey Karin | Grant | 407 | $61.36 |
| 2025-01-10 | Crestview Partners II GP, L.P. | Grant | 784 | $61.36 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-09 | 2026-06-09 | 0001193125-26-263039 ↗ |
| 8-K | 2026-05-21 | 2026-05-18 | 0001193125-26-234487 ↗ |
| 8-K | 2026-05-12 | 2026-05-06 | 0001193125-26-219291 ↗ |
| 8-K | 2026-05-12 | 2026-05-12 | 0001193125-26-219720 ↗ |
| 10-Q | 2026-05-07 | 2026-03-31 | 0001193125-26-210575 ↗ |
| 8-K | 2026-05-06 | 2026-05-06 | 0001193125-26-209164 ↗ |
| 8-K | 2026-04-13 | 2026-04-13 | 0001193125-26-153004 ↗ |
| 8-K | 2026-03-24 | 2026-03-24 | 0001104659-26-033934 ↗ |
| 8-K | 2026-03-23 | 2026-03-23 | 0001104659-26-032996 ↗ |
| 8-K | 2026-03-17 | 2026-03-17 | 0001104659-26-028975 ↗ |
| 8-K | 2026-03-16 | 2026-03-13 | 0001193125-26-108377 ↗ |
| 8-K | 2026-03-11 | 2026-03-11 | 0001193125-26-102403 ↗ |