Victory Capital Management Boosts Fortinet Stake

Institutional investor increases holding in cybersecurity firm by 5.8% in Q3

Published on Mar. 4, 2026

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Victory Capital Management Inc. grew its stake in Fortinet, Inc. (NASDAQ:FTNT) by 5.8% during the third quarter, according to a recent SEC filing. The firm now owns 1,651,683 shares of the software maker's stock, worth approximately $138.9 million.

Why it matters

Fortinet is a leading cybersecurity company, providing network security appliances and software to enterprise, service provider, and government customers worldwide. Victory Capital's increased stake signals continued institutional investor confidence in Fortinet's business and growth prospects.

The details

According to the 13F filing, Victory Capital purchased an additional 90,284 shares of Fortinet during the third quarter, bringing its total position to 1,651,683 shares. This represents approximately 0.22% of Fortinet's outstanding shares. The investment firm cited Fortinet's strong market position and potential for future growth as reasons for the increased stake.

  • Victory Capital filed its 13F for the third quarter on 2026-03-04.

The players

Victory Capital Management Inc.

An investment management firm that oversees over $150 billion in assets for institutional and individual investors.

Fortinet, Inc.

A multinational cybersecurity company that develops and delivers integrated security solutions for enterprise, service provider and government customers worldwide.

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The takeaway

Victory Capital's increased stake in Fortinet reflects ongoing institutional confidence in the cybersecurity firm's market position and growth potential. As a leading provider of network security solutions, Fortinet continues to attract investment from major institutional players.