Victory Capital Holdings, Inc.

Total Client Assets(unaudited; in millions) 1

As of:

By Asset Class

Jan. 31, 2026

Dec. 31, 2025

Solutions

$

94,075

$

91,228

Fixed Income

80,429

80,544

U.S. Mid Cap Equity

30,863

29,993

U.S. Small Cap Equity

11,416

11,179

U.S. Large Cap Equity

64,340

63,380

Global / Non-U.S. Equity

32,441

30,680

Alternative Investments

2,868

3,038

Total Long-Term Assets

$

316,432

$

310,042

Money Market / Short Term Assets

3,773

3,733

Total Assets Under Management2

$

320,205

$

313,775

By Vehicle

Mutual Funds3

$

175,017

$

172,203

Separate Accounts and Other Pooled Vehicles4

129,213

126,523

ETFs5

15,976

15,049

Total Assets Under Management2

$

320,205

$

313,775

Other Assets6

Institutional

$

2,976

$

2,846

Total Other Assets

$

2,976

$

2,846

Total Client Assets

Total Assets Under Management

$

320,205

$

313,775

Total Other Assets

2,976

2,846

Total Client Assets

$

323,181

$

316,621

By Region

U.S.

$

266,847

$

261,821

Non-U.S.

56,334

54,799

Total Client Assets

$

323,181

$

316,621

1Due to rounding, numbers presented in these tables may not add up precisely to the totals provided.

2Total AUM includes both discretionary assets under management and non-discretionary assets under advisement and excludes Other Assets.

3Includes institutional and retail share classes, money market and VIP funds.

4Includes wrap program accounts, CITs, UMAs, UCITS, private funds, and non-U.S. domiciled pooled vehicles.

5Represents only ETF assets held by third parties and excludes ETF assets held by other Victory Capital products.

6Includes low-fee (2 to 4 bps) institutional assets. These assets are included as part of Victory’s Regulatory Assets Under Management reported in Form ADV Part 1.