Victory Pioneer Fund
Actively managed U.S. stock fund
The Victory Pioneer Fund (the Fund) seeks reasonable income and capital growth.
The fund employs a value approach, seeking equity securities of U.S. issuers trading at reasonable prices or substantial discounts to intrinsic value, assessed through fundamental analysis of financial statements, assets, and earnings prospects; it may also hold up to 15% in non-U.S. securities, up to 15% in REITs, and below-investment-grade debt. The fund avoids companies deriving more than 10% of gross revenues from alcohol, tobacco, gambling, or gaming. Because the fund's returns depend on the adviser's security selection and the market's recognition of intrinsic value, performance will diverge from broad market returns.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
8.85% | $990.04M | 4.9M | $200.09 | |
GOOGLALPHABET INC. | 6.95% | $778.11M | 2.2M | $357.37 |
AMZNAMAZON.COM, INC. | 4.63% | $518.47M | 2.2M | $238.34 |
4.52% | $505.84M | 4.7M | $107.50 | |
4.43% | $495.21M | 3.4M | $146.06 | |
AAPLAPPLE INC. | 4.16% | $464.98M | 1.6M | $289.36 |
3.96% | $442.63M | 1.2M | $373.02 | |
3.69% | $413.01M | 716.2K | $576.70 | |
3.43% | $384.28M | 6.1M | $62.89 | |
3.33% | $372.28M | 310.4K | $1,199.43 |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
All 45 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Stocks | 96.69% |
| Other | 2.51% |
By sector
- Information Technology
- 32.8%
- Industrials
- 12.4%
- Communication Services
- 9.0%
- Health Care
- 7.9%
- 7 other sectors
- 37.9%
- Information Technology
- 32.8%
- Industrials
- 12.4%
- Communication Services
- 9.0%
- Health Care
- 7.9%
- Utilities
- 7.3%
- Materials
- 7.2%
- Financials
- 6.9%
- Consumer Discretionary
- 6.5%
- International
- 4.1%
- Energy
- 3.4%
- Consumer Staples
- 2.5%
How it has done
PIODX share class · total returns with dividends reinvested
Volatility over the last 12 months: 16.28%. Past returns are a record, not a forecast.
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
The 5 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.92% | +45.00% | — | — | — | |
| 0.64% | +45.29% | — | — | — | |
| 1.37% | +44.40% | — | — | — | |
| 0.64% | +45.41% | — | — | — | |
| 1.72% | +43.84% | — | — | — |
These classes hold the same portfolio, so the 1.57pp spread over 1 year is the cost difference between them — roughly 1.57pp a year — not a difference in what they own.
Fees & fund details
Victory Pioneer Fund is an actively managed U.S. equity fund. 21% of PIODX’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 98% of the fund’s equity).
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Expense ratio, by class
- 0.64% – 1.72%· PIODX 0.92%
- Portfolio turnover
- 88.00% a year · as of 2026 Q2
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
4 new
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