Victory Capital Holdings, Inc. reported Total Assets Under Management (AUM) of $289.4 billion, Other Assets of $3.7 billion, and Total Client Assets of $293.1 billion as of May 31, 2025. For May, the average Total AUM was $285.5 billion, average Other Assets was $3.6 billion, and average Total Client Assets was $289.2 billion. The company recently issued 5.4 million shares of its preferred stock to Amundi S.A., increasing the fully diluted shares to approximately 88.3 million shares, with an estimated 85 million shares outstanding in the second quarter. This issuance is not expected to impact EBITDA or EBITDA margin. By asset class, Total Long-Term Assets increased to $285.7 billion from $275.6 billion in April 2025. Notable increases were seen in Solutions, which rose to $76,395 million from $72,635 million, and U.S. Large Cap Equity, which grew to $58,921 million from $55,363 million. Following the integration of Pioneer Investment, the company's consolidated fee rate realization is projected to be between 46 to 47 basis points, with certain administrative reimbursements and commissions now shown on a net basis in alignment with Victory Capital's accounting policies.