SCHEDULE 13G/A 0001505639 XXXXXXXX LIVE 9 Class A Common Stock, $0.01 par value per share 12/31/2025 0001570827 Victory Capital Holdings, Inc. 92645B103 15935 La Cantera Parkway San Antonio TX 78256 Rule 13d-1(d) Crestview Partners II GP, L.P. b DE 0.00 4095006.00 0.00 4095006.00 4095006.00 Y 6.3 PN The total in Rows (6), (8), and (9) represents the 4,095,006 shares of Class A common stock, par value $0.01 ("Class A Common Stock") of Victory Capital Holdings, Inc. (the "Issuer") that are directly beneficially owned by Crestview Partners II GP, L.P., Crestview Victory, L.P. ("Crestview Victory") and Crestview Advisors, L.L.C. ("Crestview Advisors") and deemed to be beneficially owned by the Reporting Person. Crestview Victory, L.P. b DE 0.00 4091983.00 0.00 4091983.00 4091983.00 Y 6.3 PN Crestview Advisors, L.L.C. b DE 0.00 3023.00 0.00 3023.00 3023.00 Y 0.0 PN Victory Capital Holdings, Inc. 15935 La Cantera Parkway, San Antonio, TX 78256 See Item 2(b). Crestview Partners II GP, L.P. c/o Crestview Partners 590 Madison Avenue, 42nd Floor New York, NY 10022 Crestview Victory, L.P. c/o Crestview Partners 590 Madison Avenue, 42nd Floor New York, NY 10022 Crestview Advisors, L.L.C. c/o Crestview Partners 590 Madison Avenue, 42nd Floor New York, NY 10022 See Row (4) of each Reporting Person's cover page. Y See Row (9) of each Reporting Person's cover page. Crestview Partners II GP, L.P. is the general partner of each of Crestview Partners II, L.P., Crestview Partners II (TE), L.P., Crestview Partners II (FF), L.P., Crestview Offshore Holdings II (Cayman), L.P., Crestview Offshore Holdings II (FF Cayman), L.P. and Crestview Offshore Holdings II (892 Cayman), L.P., each of which is a member of Crestview Victory GP, LLC and a limited partner of Crestview Victory, L.P. Crestview Victory GP, LLC is the general partner of Crestview Victory, L.P. Crestview Advisors, L.L.C. provides investment advisory and management services to certain of the foregoing entities. Each of Crestview Partners II GP, L.P., Crestview Partners II, L.P., Crestview Partners II (TE), L.P., Crestview Partners II (FF), L.P., Crestview Offshore Holdings II (Cayman), L.P., Crestview Offshore Holdings II (FF Cayman), L.P. and Crestview Offshore Holdings II (892 Cayman), L.P. may be deemed to have beneficial ownership of the 4,091,983 shares of Common Stock directly owned by Crestview Victory, L.P. Robert V. Delaney, Jr. and Richard M. DeMartini are members of the Issuer's board of directors. Mr. Delaney is a partner of Crestview, L.L.C. (which is the general partner of Crestview Partners II GP, L.P.) and Crestview Advisors, L.L.C. Mr. Hurst and Mr. DeMartini are Vice Chairman of Crestview, L.L.C. and Crestview Advisors, L.L.C. Robert J. Hurst is a former member of the Issuer's board of directors. Alex J. Binderow is a former member of the Issuer's board of directors and a former partner of Crestview, L.L.C. and Crestview Advisors, L.L.C. Messrs. Binderow, Delaney, Hurst and DeMartini were issued shares under the 2018 Stock Incentive Plan for service on the Issuer's board of directors. The shares were fully vested as of the date of issuance. Each of Messers. Binderow, Delaney, Hurst and DeMartini has assigned all rights, title and interest in 3,023 such shares of Common Stock to Crestview Advisors, L.L.C., which holds such shares directly. Each reporting person disclaims beneficial ownership of the reported securities except and to the extent of its pecuniary interest therein. See Row (11) of each Reporting Person's cover page. The percentage herein is based on 64,935,459 shares of Common Stock outstanding as of October 31 as reported in the Issuer's Form 10-Q filed November 7, 2025. See Row (5) of each Reporting Person's cover page. See Row (6) of each Reporting Person's cover page. See Row (7) of each Reporting Person's cover page. See Row (8) of each Reporting Person's cover page. Y Y Y Y Y Y Exhibit 99.1: Joint Filing Agreement Crestview Partners II GP, L.P. /s/ Poojitha Mantha 02/17/2026 Crestview Victory, L.P. /s/ Poojitha Mantha 02/17/2026 Crestview Advisors, L.L.C. /s/ Poojitha Mantha 02/17/2026