Generalist · San Antonio, TX
Victory Capital Management
Q4 2025 · compared with Q3 2025
Filed as Victory Capital Management INC
- Software
- $16.7B
- Weight of 13F
- 9.5%
- Names
- 183
- Net bought
- +$2.5B
Filed 13 February 2026 · SEC filing.
2,392 positions in the whole 13F.
Quarters on file
Each quarter on file, back to June 2016 when the filing exists. Net bought is the share change from the previous quarter at that quarter’s close. A split that leaves the dollar value in place counts as flat.
- Q2 2026183 names$15.4B+$1.2B
- Q1 2026182 names$13.5B+$618M
- Q4 2025183 names$16.7B+$2.5B
- Q3 2025182 names$17.5B+$1.2B
- Q2 2025177 names$16.9B+$6.5B
- Q1 2025174 names$7.1B+$303M
- Q4 2024170 names$7.5B+$386M
- Q3 2024165 names$6.9B−$10.4M
- Q2 2024164 names$6.9B+$497M
- Q1 2024161 names$6.3B+$209M
- Q4 2023163 names$5.7B+$153M
- Q3 2023160 names$4.7B−$78.6M
- Q2 2023157 names$5.0B−$76.2M
- Q1 2023159 names$4.5B−$469M
- Q4 2022153 names$4.5B−$178M
- Q3 2022156 names$4.4B+$345M
- Q2 2022148 names$4.8B+$33.4M
- Q1 2022147 names$5.6B−$190M
- Q4 2021153 names$6.9B−$495M
- Q3 2021150 names$7.1B+$83.1M
- Q2 2021140 names$7.0B+$1.6B
- Q1 2021133 names$6.6B+$272M
- Q4 2020121 names$6.8B−$126M
- Q3 2020114 names$6.0B−$119M
- Q2 2020108 names$5.6B−$232M
- Q1 2020127 names$4.3B−$299M
- Q4 2019127 names$5.4B−$248M
- Q3 2019120 names$4.8B+$2.4B
- Q2 201961 names$2.6B+$59.7M
- Q1 201963 names$2.3B−$21.8M
- Q4 201860 names$1.8B−$35.0M
- Q3 201856 names$2.1B+$30.2M
- Q2 201857 names$1.8B−$80.7M
- Q1 201856 names$1.7B−$59.9M
- Q4 201756 names$1.6B+$108M
- Q3 201753 names$1.5B−$36.1M
- Q2 201753 names$1.4B−$132M
- Q1 201752 names$1.4B−$96.6M
- Q4 201652 names$1.4B+$109M
- Q3 201650 names$1.3B+$488M
- Q2 201642 names$632M—
What moved the book
The five software lines with the largest share change this quarter.
Software held
- MicrosoftMSFT13,047,023 shares · 37.8% of their software · price −$448M$6.3B+$725M
- SynopsysSNPS2,730,643 shares · 7.7% of their software · price −$64.6M$1.3B−$46.2M
- Uber Technologies, Inc.UBER13,637,558 shares · 6.7% of their software · price −$222M$1.1B+$191M
- IntuitINTU1,139,587 shares · 4.5% of their software · price −$23.4M$755M+$58.2M
- AdobeADBE1,916,802 shares · 4.0% of their software · price −$5.3M$671M+$203M
- ServiceNowNOW3,868,025 shares · 3.5% of their software · price −$3.0B$593M+$2.6B
- SalesforceCRM2,157,044 shares · 3.4% of their software · price +$60.2M$571M−$25.8M
- TrimbleTRMB4,962,879 shares · 2.3% of their software · price −$16.4M$389M−$13.3M
- PalantirPLTR2,083,531 shares · 2.2% of their software · price −$9.7M$370MFlat
- Check PointCHKP1,684,756 shares · 1.9% of their software · price −$36.0M$313M+$48.5M
- AppLovinAPP393,617 shares · 1.6% of their software · price −$17.6M$265M−$20.0M
- OracleORCL1,186,382 shares · 1.4% of their software · price −$102M$231M−$1.0B
- AkamaiAKAM2,593,058 shares · 1.4% of their software · price +$29.8M$226M+$21.2M
- Palo Alto NetworksPANW1,145,405 shares · 1.3% of their software · price −$22.2M$211M−$269M
- NetApp, Inc.NTAP1,868,634 shares · 1.2% of their software · price −$21.2M$200M+$29.0M
- Automatic Data Processing, Inc.ADP662,682 shares · 1.0% of their software · price −$24.0M$170M−$9.5M
- ZoomZM1,831,806 shares · 0.9% of their software · price +$6.9M$158M+$7.5M
- AutodeskADSK491,835 shares · 0.9% of their software · price −$10.7M$146MFlat
- FortinetFTNT1,667,582 shares · 0.8% of their software · price −$7.8M$132MFlat
- GoDaddyGDDY1,036,428 shares · 0.8% of their software · price −$13.2M$129M+$41.2M
- F5, Inc.FFIV472,919 shares · 0.7% of their software · price −$32.1M$121M+$40.7M
- CadenceCDNS328,657 shares · 0.6% of their software · price −$12.7M$103M+$1.8M
- DocuSignDOCU1,466,877 shares · 0.6% of their software · price −$5.4M$100M+$31.0M
- CrowdStrikeCRWD208,628 shares · 0.6% of their software · price −$4.5M$97.8M+$3.7M
- DatadogDDOG709,933 shares · 0.6% of their software · price −$4.6M$96.5MFlat
- NCR Atleos CorporationNATL2,476,448 shares · 0.6% of their software · price −$3.0M$94.4M−$5.6M
- Gen DigitalGEN3,328,737 shares · 0.5% of their software · price −$4.0M$90.5M+$59.1M
- ShopifySHOP555,741 shares · 0.5% of their software · price +$6.9M$89.5M+$1.9M
- Lyft, Inc.LYFT4,583,293 shares · 0.5% of their software · price −$12.1M$88.8M+$22.1M
- NutanixNTNX1,601,351 shares · 0.5% of their software · price −$36.4M$82.8M+$102M
- SS&CSSNC897,546 shares · 0.5% of their software · price −$1.2M$78.5M−$18.6M
- CloudflareNET391,810 shares · 0.5% of their software · price −$6.8M$77.2M−$4.9M
- OktaOKTA859,538 shares · 0.4% of their software · price −$4.5M$74.3M+$20.0M
- SnowflakeSNOW271,370 shares · 0.4% of their software · price −$1.7M$59.5M−$26.7M
- VeriskVRSK251,311 shares · 0.3% of their software · price −$7.0M$56.2M+$1.9M
- Paychex, Inc.PAYX471,046 shares · 0.3% of their software · price −$6.9M$52.8M+$6.8M
- MongoDBMDB110,988 shares · 0.3% of their software · price +$12.1M$46.6M+$11.8M
- Amdocs LimitedDOX543,262 shares · 0.3% of their software · price −$837K$43.7M+$3.3M
- WorkdayWDAY197,805 shares · 0.3% of their software · price −$5.1M$42.5M+$2.3M
- DoximityDOCS943,031 shares · 0.2% of their software · price −$27.2M$41.8M−$11.3M
- Corpay, Inc.CPAY133,871 shares · 0.2% of their software · price +$1.7M$40.3M+$7.0M
- VeevaVEEV180,068 shares · 0.2% of their software · price −$13.4M$40.2M−$2.6M
- Roper Technologies, Inc.ROP86,371 shares · 0.2% of their software · price −$4.6M$38.4M+$1.0M
- DropboxDBX1,230,156 shares · 0.2% of their software · price −$3.0M$34.2M+$13.1M
- AtlassianTEAM201,339 shares · 0.2% of their software$32.6M+$8.2M
- ZscalerZS138,644 shares · 0.2% of their software · price −$10.4M$31.2M−$1.4M
- Strategy IncMSTR194,828 shares · 0.2% of their software · price −$33.2M$29.6M+$2.1M
- Euronet Worldwide, Inc.EEFT382,764 shares · 0.2% of their software · price −$4.5M$29.1M−$7.3M
- The Trade DeskTTD720,373 shares · 0.2% of their software · price −$8.0M$27.3M−$5.1M
- HubSpotHUBS66,006 shares · 0.2% of their software · price −$4.4M$26.5M−$7.3M
- BroadridgeBR116,734 shares · 0.2% of their software · price −$1.8M$26.1M+$1.4M
- Fair IsaacFICO14,995 shares · 0.2% of their software · price +$2.9M$25.4M−$2.3M
- ToastTOST697,936 shares · 0.1% of their software · price −$698K$24.8M−$2.9M
- CoStarCSGP334,993 shares · 0.1% of their software · price −$5.7M$22.5M+$627K
- Sportradar Group AGSRAD926,751 shares · 0.1% of their software · price −$2.9M$22.0M+$7.8M
- CommvaultCVLT168,916 shares · 0.1% of their software · price −$10.7M$21.2M+$9.6M
- VeriSign, Inc.VRSN79,998 shares · 0.1% of their software · price −$2.9M$19.4M+$2.6M
- ProcorePCOR242,065 shares · 0.1% of their software$17.6MFlat
- ACI WorldwideACIW365,969 shares · 0.1% of their software · price −$1.8M$17.5M−$10.0M
- SamsaraIOT461,728 shares · 0.1% of their software · price −$831K$16.4M+$978K
- Fiserv, Inc.FISV243,640 shares · 0.1% of their software · price −$15.0M$16.4M−$11.4M
- InterDigital, Inc.IDCC46,449 shares · 0.1% of their software · price −$1.2M$14.8M+$1.6M
- DynatraceDT327,431 shares · 0.1% of their software · price −$1.7M$14.2M+$3.0M
- PTCPTC76,672 shares · 0.1% of their software · price −$2.2M$13.4MFlat
- Manhattan AssociatesMANH76,138 shares · 0.1% of their software · price −$2.4M$13.2M+$7.8M
- Q2QTWO175,362 shares · 0.1% of their software$12.7M−$8.7M
- Block, Inc.XYZ182,163 shares · 0.1% of their software · price −$1.3M$11.9M+$675K
- NetScout Systems, Inc.NTCT426,880 shares · 0.1% of their software · price +$525K$11.6M+$754K
- Clear Secure, Inc.YOU310,641 shares · 0.1% of their software · price +$528K$10.9M−$3.6M
- Payoneer Global Inc.PAYO1,840,644 shares · 0.1% of their software · price −$791K$10.3M−$8.1M
- Tyler TechnologiesTYL17,868 shares · 0.0% of their software · price −$1.2M$8.1M−$5.2M
- WaystarWAY244,224 shares · 0.0% of their software · price −$1.3M$8.0M−$5.9M
- JFrogFROG123,336 shares · 0.0% of their software · price +$1.9M$7.7M−$8.0M
- KlaviyoKVYO228,968 shares · 0.0% of their software · price +$1.1M$7.4M−$5.7M
- RingCentralRNG255,996 shares · 0.0% of their software$7.4M+$958K
- TwilioTWLO50,883 shares · 0.0% of their software · price +$2.1M$7.2M−$54.2M
- ZoomInfoZI704,471 shares · 0.0% of their software$7.2M—
- GuidewireGWRE34,843 shares · 0.0% of their software · price −$1.0M$7.0M+$683K
- VaronisVRNS210,789 shares · 0.0% of their software · price −$5.2M$6.9M−$17.6M
- Life360, Inc.LIF106,485 shares · 0.0% of their software · price −$4.5M$6.8M−$6.4M
- ElasticESTC86,796 shares · 0.0% of their software · price −$786K$6.5MFlat
- Upbound Group, Inc.UPBD362,607 shares · 0.0% of their software · price −$2.2M$6.4M+$554K
- CoreWeave, Inc.CRWV88,500 shares · 0.0% of their software · price −$5.8M$6.3M+$1.9M
- PegasystemsPEGA103,833 shares · 0.0% of their software$6.2M−$3.8M
- BoxBOX197,903 shares · 0.0% of their software$5.9M−$9.3M
- PaycomPAYC35,959 shares · 0.0% of their software · price −$1.8M$5.7M−$3.1M
- PaylocityPCTY36,450 shares · 0.0% of their software$5.6M−$3.1M
- Clearwater AnalyticsCWAN217,100 shares · 0.0% of their software$5.2M—
- AppFolioAPPF22,448 shares · 0.0% of their software · price −$965K$5.2M−$502K
- FreshworksFRSH417,124 shares · 0.0% of their software$5.1M−$5.4M
- BrazeBRZE147,503 shares · 0.0% of their software · price +$863K$5.1M−$2.2M
- ServiceTitanTTAN44,017 shares · 0.0% of their software$4.7M−$7.9M
- DuolingoDUOL26,092 shares · 0.0% of their software · price −$3.8M$4.6M−$4.0M
- QualysQLYS31,554 shares · 0.0% of their software$4.2MFlat
- UnityU86,337 shares · 0.0% of their software$3.8M+$1.3M
- FactSetFDS12,014 shares · 0.0% of their software$3.5M−$1.6M
- NICENICE30,630 shares · 0.0% of their software · price −$972K$3.5M−$6.0M
- Bentley SystemsBSY87,859 shares · 0.0% of their software · price −$1.2M$3.4M−$2.5M
- Adeia Inc.ADEA189,073 shares · 0.0% of their software$3.3MFlat
- WixWIX29,886 shares · 0.0% of their software · price −$2.2M$3.1M+$2.1M
- Alight, Inc.ALIT1,582,256 shares · 0.0% of their software · price −$2.1M$3.1MFlat
- BILLBILL55,566 shares · 0.0% of their software$3.0MFlat
- DoubleVerifyDV264,531 shares · 0.0% of their software$3.0M+$1.4M
- CourseraCOUR400,123 shares · 0.0% of their software · price −$1.7M$2.9M+$756K
- A10 Networks, Inc.ATEN166,049 shares · 0.0% of their software$2.9M−$5.5M
- LiveRamp Holdings, Inc.RAMP98,123 shares · 0.0% of their software$2.9MFlat
- PagerDutyPD219,584 shares · 0.0% of their software · price −$749K$2.9M+$1.7M
- Dave Inc.DAVE12,077 shares · 0.0% of their software$2.7MFlat
- Five9FIVN123,827 shares · 0.0% of their software · price −$514K$2.5M+$2.8M
- TenableTENB104,385 shares · 0.0% of their software · price −$588K$2.5M+$968K
- MagniteMGNI151,084 shares · 0.0% of their software · price −$839K$2.5M+$2.3M
- AvePointAVPT174,703 shares · 0.0% of their software$2.4M−$8.2M
- GitLabGTLB61,274 shares · 0.0% of their software$2.3M−$5.4M
- ePlus inc.PLUS26,008 shares · 0.0% of their software$2.3M−$1.5M
- Bitdeer Technologies GroupBTDR203,387 shares · 0.0% of their software · price −$1.2M$2.3M−$7.0M
- PhreesiaPHR130,630 shares · 0.0% of their software · price −$862K$2.2M−$5.7M
- GigaCloud Technology Inc.GCT52,078 shares · 0.0% of their software · price +$567K$2.0MFlat
- UiPathPATH122,435 shares · 0.0% of their software$2.0M−$1.7M
- SprinklrCXM242,415 shares · 0.0% of their software$1.9MFlat
- Rapid7RPD120,620 shares · 0.0% of their software$1.8MFlat
- Shift4 Payments, Inc.FOUR26,736 shares · 0.0% of their software$1.7M−$1.6M
- monday.comMNDY11,278 shares · 0.0% of their software · price −$520K$1.7M+$755K
- Consensus Cloud Solutions, Inc.CCSI73,207 shares · 0.0% of their software · price −$553K$1.6MFlat
- OneSpan Inc.OSPN123,388 shares · 0.0% of their software$1.6MFlat
- Sprout SocialSPT116,800 shares · 0.0% of their software$1.3MNew · +$1.5M
- Rubrik, Inc.RBRK15,711 shares · 0.0% of their software$1.2M−$1.9M
- Alarm.com Holdings, Inc.ALRM23,153 shares · 0.0% of their software$1.2MFlat
- TeradataTDC38,783 shares · 0.0% of their software$1.2M−$2.2M
- i3 Verticals, Inc.IIIV44,905 shares · 0.0% of their software$1.1M−$1.9M
- BlackLineBL18,912 shares · 0.0% of their software$1.0MFlat
- PDF Solutions, Inc.PDFS36,300 shares · 0.0% of their software$1.0MFlat
- Ribbon Communications Inc.RBBN349,543 shares · 0.0% of their software$1.0MFlat
- Donnelley Financial Solutions, Inc.DFIN20,699 shares · 0.0% of their software$966KFlat
- EVERTEC, Inc.EVTC31,141 shares · 0.0% of their software$906K−$49.8M
- PagSeguro Digital Ltd.PAGS93,841 shares · 0.0% of their software$905KFlat
- SPS CommerceSPSC10,110 shares · 0.0% of their software$901KFlat
- DigitalOceanDOCN18,665 shares · 0.0% of their software$898KFlat
- Agilysys, Inc.AGYS7,470 shares · 0.0% of their software$888KFlat
- ProgressPRGS19,559 shares · 0.0% of their software$840K−$1.9M
- WEX Inc.WEX5,167 shares · 0.0% of their software$770KFlat
- MorningstarMORN3,538 shares · 0.0% of their software$769K−$1.2M
- MNTN, Inc.MNTN64,245 shares · 0.0% of their software$767KNew · +$1.2M
- Figma, Inc.FIG19,670 shares · 0.0% of their software$735KNew · +$1.0M
- Remitly Global, Inc.RELY51,586 shares · 0.0% of their software$712K+$530K
- DescartesDSGX7,921 shares · 0.0% of their software$694KFlat
- OpenTextOTEX20,610 shares · 0.0% of their software$671KFlat
- PubMaticPUBM69,600 shares · 0.0% of their software$617KFlat
- Mitek Systems, Inc.MITK54,329 shares · 0.0% of their software$573KFlat
- CCC Intelligent Solutions Holdings Inc.CCC69,413 shares · 0.0% of their software$552K−$701K
- SentinelOneS36,208 shares · 0.0% of their software$543KFlat
- Chime Financial, Inc.CHYM21,365 shares · 0.0% of their software$538KNew · Flat
- Bandwidth Inc.BAND33,450 shares · 0.0% of their software$517KFlat
- Ooma, Inc.OOMA42,716 shares · 0.0% of their software$501KNew · +$512K
- WorkivaWK5,741 shares · 0.0% of their software$495KFlat
- Core Scientific, Inc.CORZ33,843 shares · 0.0% of their software$493KFlat
- Calix, Inc.CALX8,977 shares · 0.0% of their software$475KFlat
- Zeta GlobalZETA22,731 shares · 0.0% of their software$463KFlat
- Commerce.com, Inc.CMRC110,179 shares · 0.0% of their software$454KFlat
- SoundHound AI, Inc.SOUN43,605 shares · 0.0% of their software$435KFlat
- Intapp, Inc.INTA8,493 shares · 0.0% of their software$389K−$1.8M
- BlackbaudBLKB5,518 shares · 0.0% of their software$349K−$1.5M
- nCinoNCNO12,632 shares · 0.0% of their software$324KFlat
- Diebold Nixdorf, IncorporatedDBD4,051 shares · 0.0% of their software$275KFlat
- Cellebrite DI Ltd.CLBT13,147 shares · 0.0% of their software$237KFlat
- C3.aiAI14,816 shares · 0.0% of their software$200KFlat
- FlywireFLYW13,002 shares · 0.0% of their software$184KFlat
- NextNav Inc.NN10,408 shares · 0.0% of their software$173KNew · Flat
- FastlyFSLY15,751 shares · 0.0% of their software$160KFlat
- CertaraCERT16,701 shares · 0.0% of their software$147KFlat
- AsanaASAN10,070 shares · 0.0% of their software$138KNew · Flat
- Kodiak AI, Inc.KDK10,537 shares · 0.0% of their software$115KNew · Flat
- YextYEXT11,427 shares · 0.0% of their software$92K−$693K
- N-ableNABL11,524 shares · 0.0% of their software$86KFlat
- PowerFleet, Inc.AIOT14,457 shares · 0.0% of their software$77KFlat
- Sabre CorporationSABR56,280 shares · 0.0% of their software$77KFlat
- Blend Labs, Inc.BLND22,028 shares · 0.0% of their software$67KFlat
- Digital TurbineAPPS11,268 shares · 0.0% of their software$56KFlat
- SmartRent, Inc.SMRT18,520 shares · 0.0% of their software$37KFlat
- 8x8EGHT15,319 shares · 0.0% of their software$30K—
- Rekor Systems, Inc.REKR14,051 shares · 0.0% of their software$19KFlat
- Datavault AI Inc.DVLT27,289 shares · 0.0% of their software$18KNew · Flat
- AI Financial CorporationAIFC12,317 shares · 0.0% of their software$14KFlat
- Rackspace Technology, Inc.RXT11,050 shares · 0.0% of their software$11KNew · Flat