# EDGAR Filing Document

**Accession Number:** 0000802716
**File Stem:** 0001004726-26-001363
**Filing Date:** 2026-2
**Character Count:** 41156
**Document Hash:** 99839b90dbbc432cac18f4dcc0616d7a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001004726-26-001363.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0001004726-26-001363

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260227

**DATE AS OF CHANGE**: 20260227

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VICTORY PORTFOLIOS
- **CENTRAL INDEX KEY:** 0000802716

**ORGANIZATION NAME:**
- **EIN:** 316364605
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04852
- **FILM NUMBER:** 26695731

**BUSINESS ADDRESS:**
- **STREET 1:** 4900 TIEDEMAN ROAD
- **CITY:** BROOKLYN
- **STATE:** OH
- **ZIP:** 44144
- **BUSINESS PHONE:** 6144708000

**MAIL ADDRESS:**
- **STREET 1:** 4900 TIEDEMAN ROAD
- **CITY:** BROOKLYN
- **STATE:** OH
- **ZIP:** 44144

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SOCIETY FUNDS
- **DATE OF NAME CHANGE:** 19940906

## Series and Classes Contracts Data

### Victory RS Small Cap Growth Fund (Series ID: S000053581)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000168408 | Class A      | RSEGX           |
| C000168409 | Class C      | REGWX           |
| C000168411 | Class Y      | RSYEX           |
| C000193682 | Class R6     | RSEJX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Victory Portfolios

- **b. Investment Company Act file number:** 811-04852

- **c. CIK number of Registrant:** 0000802716

- **d. LEI of Registrant:** 549300V07N3HJP1EW330

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 15935 La Cantera Parkway Building Two

  - **City:** San Antonio

  - **State:** TX

  - **Foreign country:** US

  - **Zip / Postal Code:** 78256

  - **Telephone number:** 800-539-3863

**Item A.2. Information about the Series.**

- **a. Name of Series:** Victory RS Small Cap Growth Fund

- **b. EDGAR series identifier (if any):** S000053581

- **c. LEI of Series:** 549300S05EC1NNU8DB97

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $403440475.14

**Total Liabilities:** $23618330.21

**Net Assets:** $379822144.93

**Cash Not Reported:** $1534415.37

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000168409 | 3.93%                | 0.89%                | -2.51%               |
| Class ID C000193682 | 4.03%                | 0.98%                | -2.42%               |
| Class ID C000168411 | 4.01%                | 0.97%                | -2.43%               |
| Class ID C000168408 | 3.97%                | 0.97%                | -2.47%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $6752686.31              | $9717269.51                                |
| Month 2  | $6939021.14              | $-3189844.21                               |
| Month 3  | $-636495.65              | $-8689149.58                               |

### Schedule of Portfolio Investments

| Name                                           | Title                                  | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| IONQ Inc                                       | IONQ INC                               | CUSIP: 46222L108<br>LEI: 529900RB2VEFGLQS7G28 | Long             | EC               | CORP              | US        |    120810 | NS      | $5420744.70   | 1.43%             |  |  |  | No            |                  1 | On Loan: —       |
| Onespaworld Holdings Ltd                       | ONESPAWORLD HOLDINGS LTD               | CUSIP: P73684113<br>LEI: 5493007W8PZ8W6UC2X76 | Long             | EC               | CORP              | BS        |    209760 | NS      | $4350422.40   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| COMMVAULT SYSTEMS, INC.                        | COMMVAULT SYSTEMS INC                  | CUSIP: 204166102<br>LEI: 65T5VRP62VXG39YFML83 | Long             | EC               | CORP              | US        |     28840 | NS      | $3615382.40   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| BRIDGEBIO PHARMA, INC.                         | BRIDGEBIO PHARMA INC                   | CUSIP: 10806X102<br>LEI: 54930028YG89VTY2J114 | Long             | EC               | CORP              | US        |     87540 | NS      | $6695934.60   | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| LENDINGTREE, INC.                              | LENDINGTREE INC                        | CUSIP: 52603B107<br>LEI: 549300ISY5YHUJZTON08 | Long             | EC               | CORP              | US        |     60300 | NS      | $3201327.00   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| PALOMAR HOLDINGS, INC.                         | PALOMAR HOLDINGS INC                   | CUSIP: 69753M105<br>LEI: 549300DOI1MUW11BLX74 | Long             | EC               | CORP              | US        |     28300 | NS      | $3813708.00   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BOX, INC.                                      | BOX INC CLASS A                        | CUSIP: 10316T104<br>LEI: 549300KQUCPD8687YS68 | Long             | EC               | CORP              | US        |     87600 | NS      | $2620116.00   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Procept Biorobotics Corp                       | PROCEPT BIOROBOTICS CORP               | CUSIP: 74276L105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     33540 | NS      | $1055168.40   | 0.28%             |  |  |  | No            |                  1 | On Loan: —       |
| Hinge Health Inc                               | HINGE HEALTH INC A                     | CUSIP: 433313103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     78123 | NS      | $3628813.35   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Credo Technology Group Holding Ltd             | CREDO TECHNOLOGY GROUP HOLDING LTD     | CUSIP: G25457105<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     44100 | NS      | $6345549.00   | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| PIPER SANDLER COMPANIES                        | PIPER SANDLER COS                      | CUSIP: 724078100<br>LEI: QUQDBTUSOAKFEVMRMF78 | Long             | EC               | CORP              | US        |      5550 | NS      | $1885390.50   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| FABRINET                                       | FABRINET                               | CUSIP: G3323L100<br>LEI: 5493004TETZ6IYF7CV44 | Long             | EC               | CORP              | KY        |     20870 | NS      | $9501693.60   | 2.50%             |  |  |  | No            |                  1 | On Loan: No      |
| FTAI Aviation Ltd,                             | FTAI AVIATION LTD                      | CUSIP: G3730V105<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |      8970 | NS      | $1765744.50   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| SPX TECHNOLOGIES, INC.                         | SPX TECHNOLOGIES INC                   | CUSIP: 78473E103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     28630 | NS      | $5727717.80   | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| ZURN ELKAY WATER SOLUTIONS CORPORATION         | ZURN ELKAY WATER SOLUTIONS CORPORATION | CUSIP: 98983L108<br>LEI: 549300AM3633XDFU1Q85 | Long             | EC               | CORP              | US        |     38270 | NS      | $1779172.30   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Spyre Therapeutics Inc                         | SPYRE THERAPEUTICS INC                 | CUSIP: 00773J202<br>LEI: 52990017AIJPRH3HQH40 | Long             | EC               | CORP              | US        |     89228 | NS      | $2923109.28   | 0.77%             |  |  |  | No            |                  1 | On Loan: —       |
| GOLDMAN SACHS FINANCIAL SQUARE GOVERNMENT FUND | GLDMN SCHS FIN SQ GV-FST               | CUSIP: 38141W273<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   5784345 | NS      | $5784345.03   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| SEMTECH CORPORATION                            | SEMTECH CORP                           | CUSIP: 816850101<br>LEI: 549300J7WUY317SW6O61 | Long             | EC               | CORP              | US        |     79320 | NS      | $5845090.80   | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| AEROVIRONMENT, INC.                            | AEROVIRONMENT INC                      | CUSIP: 008073108<br>LEI: 529900PGHVI29YLZ6221 | Long             | EC               | CORP              | US        |      5910 | NS      | $1429569.90   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| ARGAN, INC.                                    | ARGAN INC                              | CUSIP: 04010E109<br>LEI: 529900E4KZWBV9KGBS83 | Long             | EC               | CORP              | US        |     14270 | NS      | $4471076.40   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| GUARDANT HEALTH, INC.                          | GUARDANT HEALTH INC                    | CUSIP: 40131M109<br>LEI: 254900M8C3E5VC8BR186 | Long             | EC               | CORP              | US        |     79810 | NS      | $8151793.40   | 2.15%             |  |  |  | No            |                  1 | On Loan: No      |
| ARCHROCK INC.                                  | ARCHROCK INC                           | CUSIP: 03957W106<br>LEI: 549300K3RIHMHDVFTL28 | Long             | EC               | CORP              | US        |    146550 | NS      | $3813231.00   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ACI WORLDWIDE, INC.                            | ACI WORLDWIDE INC                      | CUSIP: 004498101<br>LEI: 5493003BPVMZUJ6F5C02 | Long             | EC               | CORP              | US        |     96260 | NS      | $4602190.60   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| KORN FERRY                                     | KORN FERRY                             | CUSIP: 500643200<br>LEI: 549300FOD20OM0GT5G40 | Long             | EC               | CORP              | US        |     45910 | NS      | $3030978.20   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| WINTRUST FINANCIAL CORPORATION                 | WINTRUST FINANCIAL CORP                | CUSIP: 97650W108<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EC               | CORP              | US        |     45300 | NS      | $6333846.00   | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| UMB FINANCIAL CORPORATION                      | UMB FINANCIAL CORP                     | CUSIP: 902788108<br>LEI: 549300MGEH3N3CUCV828 | Long             | EC               | CORP              | US        |     35410 | NS      | $4073566.40   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| ITRON, INC.                                    | ITRON INC                              | CUSIP: 465741106<br>LEI: 24F6LSZD18II6ICG6S41 | Long             | EC               | CORP              | US        |     13480 | NS      | $1251752.80   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| BLOOM ENERGY CORPORATION                       | BLOOM ENERGY CORP                      | CUSIP: 093712107<br>LEI: 549300XB5J9BFW5JXV97 | Long             | EC               | CORP              | US        |     51060 | NS      | $4436603.40   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Krystal Biotech Inc                            | KRYSTAL BIOTECH INC                    | CUSIP: 501147102<br>LEI: 549300YONUY68210OE41 | Long             | EC               | CORP              | US        |     17820 | NS      | $4393342.80   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| VERICEL CORPORATION                            | VERICEL CORP                           | CUSIP: 92346J108<br>LEI: 54930076YM3PLTDR4B91 | Long             | EC               | CORP              | US        |     34550 | NS      | $1244145.50   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| JFROG LTD                                      | JFROG LTD                              | CUSIP: M6191J100<br>LEI: 2549002N8E00AY49G567 | Long             | EC               | CORP              | IL        |     57751 | NS      | $3607127.46   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| GLAUKOS CORPORATION                            | GLAUKOS CORP                           | CUSIP: 377322102<br>LEI: 5299004JA1LHE21M6T14 | Long             | EC               | CORP              | US        |     46910 | NS      | $5296608.10   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| LIFE360, INC.                                  | LIFE360 INC                            | CUSIP: 532206109<br>LEI: 254900VO9VDOQBQAHF07 | Long             | EC               | CORP              | US        |     40840 | NS      | $2619477.60   | 0.69%             |  |  |  | No            |                  1 | On Loan: —       |
| ATRICURE, INC.                                 | ATRICURE INC                           | CUSIP: 04963C209<br>LEI: 254900B2I6GPHK2EXM59 | Long             | EC               | CORP              | US        |     19330 | NS      | $764694.80    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| SERVICETITAN, INC.                             | SERVICETITAN INC                       | CUSIP: 81764X103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     38360 | NS      | $4085340.00   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Tecnoglass Inc.                                | TECNOGLASS INC                         | CUSIP: G87264100<br>LEI: 529900YRWTPOC2E6IO67 | Long             | EC               | CORP              | KY        |     39410 | NS      | $1983111.20   | 0.52%             |  |  |  | No            |                  1 | On Loan: —       |
| CLEARWATER ANALYTICS HOLDINGS, INC.            | CLEARWATER ANALYTICS HOLDINGS INC      | CUSIP: 185123106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    153470 | NS      | $3701696.40   | 0.97%             |  |  |  | No            |                  1 | On Loan: —       |
| HALOZYME THERAPEUTICS, INC.                    | HALOZYME THERAPEUTICS INC              | CUSIP: 40637H109<br>LEI: 529900242I3SV9AGM753 | Long             | EC               | CORP              | US        |     52420 | NS      | $3527866.00   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| KARMAN HOLDINGS INC.                           | KARMAN HOLDINGS INC                    | CUSIP: 485924104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     38470 | NS      | $2814849.90   | 0.74%             |  |  |  | No            |                  1 | On Loan: —       |
| Natural Grocers by Vitamin Cottage Inc         | NATURAL GROCERS BY VITAMIN COTTAGE INC | CUSIP: 63888U108<br>LEI: 529900P4OTXDGBUS3O87 | Long             | EC               | CORP              | US        |     78469 | NS      | $1965648.45   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEAYA Biosciences Inc                         | IDEAYA BIOSCIENCES INC                 | CUSIP: 45166A102<br>LEI: 549300ULW08F62IJML11 | Long             | EC               | CORP              | US        |     97840 | NS      | $3382328.80   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| BADGER METER, INC.                             | BADGER METER INC                       | CUSIP: 056525108<br>LEI: 5493002JENE20OGTUG20 | Long             | EC               | CORP              | US        |      8370 | NS      | $1459811.70   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| PRIMORIS SERVICES CORPORATION                  | PRIMORIS SERVICES CORP                 | CUSIP: 74164F103<br>LEI: 549300UF3OLBJ8D5K349 | Long             | EC               | CORP              | US        |     32230 | NS      | $4001032.20   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Apogee Therapeutics Inc                        | APOGEE THERAPEUTICS INC                | CUSIP: 03770N101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     51650 | NS      | $3898542.00   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| TWFG Inc                                       | TWFG INC                               | CUSIP: 87318A101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     80340 | NS      | $2311381.80   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| MIRION TECHNOLOGIES, INC.                      | MIRION TECHNOLOGIES INC                | CUSIP: 60471A101<br>LEI: 549300BNTOWVWFNVTJ65 | Long             | EC               | CORP              | US        |    226172 | NS      | $5296948.24   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| MODINE MANUFACTURING COMPANY                   | MODINE MANUFACTURING CO                | CUSIP: 607828100<br>LEI: Z35SZFYJR8GZZRSIUU09 | Long             | EC               | CORP              | US        |     24770 | NS      | $3307042.70   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| IMPINJ, INC.                                   | IMPINJ INC                             | CUSIP: 453204109<br>LEI: 549300M26VGKSMMWWN17 | Long             | EC               | CORP              | US        |     19540 | NS      | $3400155.40   | 0.90%             |  |  |  | No            |                  1 | On Loan: —       |
| Exzeo Group Inc                                | EXZEO GROUP INC                        | CUSIP: 30234F101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    121248 | NS      | $2940264.00   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Waystar Holding Corp                           | WAYSTAR HOLDING CORP                   | CUSIP: 946784105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    100041 | NS      | $3276342.75   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Revolution Medicines Inc                       | REVOLUTION MEDICINES INC               | CUSIP: 76155X100<br>LEI: 549300JU3X0LBCQ65892 | Long             | EC               | CORP              | US        |     59060 | NS      | $4704129.00   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| ASCENDIS PHARMA A/S                            | ASCENDIS PHARMA A S ADR                | CUSIP: 04351P101<br>LEI: 549300B66JN3W3J8GH73 | Long             |  | CORP              | DK        |     26170 | NS      | $5580490.80   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Bitdeer Technologies Group                     | BITDEER TECHNOLOGIES GROUP             | CUSIP: G11448100<br>LEI: 2549007M2KGWVJ9XFP20 | Long             | EC               | CORP              | KY        |    189500 | NS      | $2124295.00   | 0.56%             |  |  |  | No            |                  1 | On Loan: —       |
| MSILF Government Portfolio                     | MSILF GOVERNMENT-INST                  | CUSIP: 61747C707<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   5784345 | NS      | $5784345.01   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| WARBY PARKER INC                               | WARBY PARKER INC                       | CUSIP: 93403J106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    171260 | NS      | $3731755.40   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Kymera Therapeutics Inc                        | KYMERA THERAPEUTICS INC                | CUSIP: 501575104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     34580 | NS      | $2690669.80   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| HIMS & HERS HEALTH, INC.                       | HIMS HERS HEALTH INC                   | CUSIP: 433000106<br>LEI: 254900V041EIVTSB6D58 | Long             | EC               | CORP              | US        |     26730 | NS      | $867923.10    | 0.23%             |  |  |  | No            |                  1 | On Loan: —       |
| Arcellx Inc                                    | ARCELLX INC                            | CUSIP: 03940C100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     25130 | NS      | $1638476.00   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| GitLab Inc                                     | GITLAB INC                             | CUSIP: 37637K108<br>LEI: 9845004Y40FACG81ED49 | Long             | EC               | CORP              | US        |     26160 | NS      | $981784.80    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Crinetics Pharmaceuticals Inc                  | CRINETICS PHARMACEUTICALS INC          | CUSIP: 22663K107<br>LEI: 549300Q1CNFXK5P31D28 | Long             | EC               | CORP              | US        |     55950 | NS      | $2604472.50   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| AnaptysBio Inc                                 | ANAPTYSBIO INC                         | CUSIP: 032724106<br>LEI: 529900HH4WQT03IG1A12 | Long             | EC               | CORP              | US        |     32850 | NS      | $1592568.00   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| THE VITA COCO COMPANY, INC.                    | VITA COCO CO INC THE                   | CUSIP: 92846Q107<br>LEI: 54930020WXOAWHR85Y25 | Long             | EC               | CORP              | US        |     45610 | NS      | $2417786.10   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| RADNET, INC.                                   | RADNET INC                             | CUSIP: 750491102<br>LEI: 529900RECG94V2IZJ970 | Long             | EC               | CORP              | US        |     34730 | NS      | $2477985.50   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| HEALTHEQUITY, INC.                             | HEALTHEQUITY INC                       | CUSIP: 42226A107<br>LEI: 529900LRJU1RAFQHM467 | Long             | EC               | CORP              | US        |     32910 | NS      | $3014885.10   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Phreesia Inc                                   | PHREESIA INC                           | CUSIP: 71944F106<br>LEI: 5493000HHF8NU4QOCG53 | Long             | EC               | CORP              | US        |    130630 | NS      | $2210259.60   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCURY SYSTEMS, INC.                          | MERCURY SYSTEMS INC                    | CUSIP: 589378108<br>LEI: 549300P3B84SGK7HH679 | Long             | EC               | CORP              | US        |    118470 | NS      | $8649494.70   | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| PERMIAN RESOURCES CORPORATION                  | PERMIAN RESOURCES CORP COM             | CUSIP: 71424F105<br>LEI: 529900NXUJPOKU7OJ511 | Long             | EC               | CORP              | US        |    195940 | NS      | $2749038.20   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Braze Inc                                      | BRAZE INC                              | CUSIP: 10576N102<br>LEI: 9845007B9EDBFD37C277 | Long             | EC               | CORP              | US        |    100740 | NS      | $3454374.60   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLIED INDUSTRIAL TECHNOLOGIES, INC.          | APPLIED INDUSTRIAL TECHNOLOGIES INC    | CUSIP: 03820C105<br>LEI: 549300NU173IJRC6PO38 | Long             | EC               | CORP              | US        |     24330 | NS      | $6247214.10   | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| WINGSTOP INC.                                  | WINGSTOP INC                           | CUSIP: 974155103<br>LEI: 549300SSH3F8HPIM3Q47 | Long             | EC               | CORP              | US        |     11400 | NS      | $2718786.00   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| CHAMPION HOMES, INC                            | CHAMPION HOMES INC                     | CUSIP: 830830105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     28880 | NS      | $2440360.00   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| WATTS WATER TECHNOLOGIES, INC.                 | WATTS WATER TECHNOLOGIES INC A         | CUSIP: 942749102<br>LEI: 549300REJOO94ERQN318 | Long             | EC               | CORP              | US        |      7860 | NS      | $2169517.20   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| KRATOS DEFENSE & SECURITY SOLUTIONS, INC.      | KRATOS DEFENSE SECURITY SOLUTIONS INC  | CUSIP: 50077B207<br>LEI: 5493000EKBN0UY1F3F88 | Long             | EC               | CORP              | US        |     61780 | NS      | $4689719.80   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKDALE SENIOR LIVING INC.                   | BROOKDALE SENIOR LIVING INC            | CUSIP: 112463104<br>LEI: LH7MQB13NWY7CJ9VC445 | Long             | EC               | CORP              | US        |    129100 | NS      | $1392989.00   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Q2 HOLDINGS, INC.                              | Q2 HOLDINGS INC                        | CUSIP: 74736L109<br>LEI: 549300M9RKR9DZXWS696 | Long             | EC               | CORP              | US        |     63220 | NS      | $4561955.20   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Adaptive Biotechnologies Corp                  | ADAPTIVE BIOTECHNOLOGIES               | CUSIP: 00650F109<br>LEI: 549300ZTF7OT1FW66Q96 | Long             | EC               | CORP              | US        |    304610 | NS      | $4946866.40   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| SI-BONE Inc                                    | SI BONE INC                            | CUSIP: 825704109<br>LEI: 549300J8JGYVJJHV9C31 | Long             | EC               | CORP              | US        |    161340 | NS      | $3181624.80   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| GeneDx Holdings Corp                           | GENEDX HOLDINGS CORP                   | CUSIP: 81663L200<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16830 | NS      | $2188909.80   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| EURONET WORLDWIDE, INC.                        | EURONET WORLDWIDE INC                  | CUSIP: 298736109<br>LEI: YG3575C4DSHJPA5KET68 | Long             | EC               | CORP              | US        |     29520 | NS      | $2246767.20   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Viridian Therapeutics Inc                      | VIRIDIAN THERAPEUTICS INC              | CUSIP: 92790C104<br>LEI: 549300C775BNYF550E70 | Long             | EC               | CORP              | US        |    131410 | NS      | $4089479.20   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| NOVANTA INC.                                   | NOVANTA INC                            | CUSIP: 67000B104<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     37130 | NS      | $4418098.70   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| UNIVERSAL TECHNICAL INSTITUTE, INC.            | UNIVERSAL TECHNICAL INSTITUTE INC      | CUSIP: 913915104<br>LEI: 2549003YOJGAZ0PVFV48 | Long             | EC               | CORP              | US        |     24917 | NS      | $651081.21    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| FIVE BELOW, INC.                               | FIVE BELOW                             | CUSIP: 33829M101<br>LEI: 529900AAXP5Z6BGI7418 | Long             | EC               | CORP              | US        |     19920 | NS      | $3752131.20   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRSTCASH HOLDINGS, INC.                       | FIRSTCASH HOLDINGS INC                 | CUSIP: 33768G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     37750 | NS      | $6016595.00   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| TIDEWATER INC.                                 | TIDEWATER INC                          | CUSIP: 88642R109<br>LEI: 2549000JA5GRUPLMUH98 | Long             | EC               | CORP              | US        |     40260 | NS      | $2033532.60   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Klaviyo Inc                                    | KLAVIYO INC                            | CUSIP: 49845K101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    138340 | NS      | $4491899.80   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| NATIONAL STORAGE AFFILIATES TRUST              | NATIONAL STORAGE AFFILIATES TRUST      | CUSIP: 637870106<br>LEI: 529900FS06O8GOYNR108 | Long             | EC               | CORP              | US        |     46240 | NS      | $1304430.40   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Genius Sports Ltd                              | GENIUS SPORTS LTD                      | CUSIP: G3934V109<br>LEI: N/A                  | Long             | EC               | CORP              | GG        |    292420 | NS      | $3222468.40   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| AvePoint Inc                                   | AVEPOINT INC                           | CUSIP: 053604104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    116960 | NS      | $1624574.40   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| IRHYTHM TECHNOLOGIES, INC.                     | IRHYTHM TECHNOLOGIES INC               | CUSIP: 450056106<br>LEI: 549300FJI72RJGDQS384 | Long             | EC               | CORP              | US        |     19700 | NS      | $3495568.00   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| ESCO TECHNOLOGIES INC.                         | ESCO TECHNOLOGIES INC                  | CUSIP: 296315104<br>LEI: 5493007JJLP5MEWVDH10 | Long             | EC               | CORP              | US        |     33840 | NS      | $6611997.60   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| MACOM TECHNOLOGY SOLUTIONS HOLDINGS, INC.      | MACOM TECHNOLOGY SOLUTIONS HOL         | CUSIP: 55405Y100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     35833 | NS      | $6137476.24   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| WISDOMTREE, INC.                               | WISDOMTREE INC                         | CUSIP: 97717P104<br>LEI: 549300WIU8IS7UFO7871 | Long             | EC               | CORP              | US        |    328600 | NS      | $4005634.00   | 1.05%             |  |  |  | No            |                  1 | On Loan: —       |
| OLLIE'S BARGAIN OUTLET HOLDINGS, INC.          | OLLIE S BARGAIN OUTLET HOLDINGS INC    | CUSIP: 681116109<br>LEI: 529900YO5DSQCPEFDZ05 | Long             | EC               | CORP              | US        |     32810 | NS      | $3596304.10   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| THE GAP, INC.                                  | GAP INC                                | CUSIP: 364760108<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | EC               | CORP              | US        |     97230 | NS      | $2489088.00   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| BALCHEM CORPORATION                            | BALCHEM CORP                           | CUSIP: 057665200<br>LEI: 549300VR70OPMHUI3557 | Long             | EC               | CORP              | US        |     32980 | NS      | $5057812.80   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Payoneer Global Inc                            | PAYONEER GLOBAL INC                    | CUSIP: 70451X104<br>LEI: 984500491C64C70FF033 | Long             | EC               | CORP              | US        |    641600 | NS      | $3605792.00   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| MUELLER WATER PRODUCTS, INC.                   | MUELLER WATER PRODUCTS INC             | CUSIP: 624758108<br>LEI: 549300F7ZU4P1F8V8L60 | Long             | EC               | CORP              | US        |    214890 | NS      | $5118679.80   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Titan America SA                               | TITAN AMERICA SA                       | CUSIP: B9151N105<br>LEI: 9845007APCB6462D6C46 | Long             | EC               | CORP              | BE        |     68114 | NS      | $1122518.72   | 0.30%             |  |  |  | No            |                  1 | On Loan: —       |
| AVIENT CORPORATION                             | AVIENT CORP                            | CUSIP: 05368V106<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | EC               | CORP              | US        |     79600 | NS      | $2486704.00   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Disc Medicine Inc                              | DISC MEDICINE INC                      | CUSIP: 254604101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     39940 | NS      | $3171635.40   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| CASELLA WASTE SYSTEMS, INC.                    | CASELLA WASTE SYSTEMS INC              | CUSIP: 147448104<br>LEI: 8EU0XUFVJ48U37IIDH51 | Long             | EC               | CORP              | US        |     65140 | NS      | $6379811.60   | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC US GOVERNMENT MONEY MARKET FUND           | HSBC US GOVT MMKT-I                    | CUSIP: 40428X107<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   5784345 | NS      | $5784345.03   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Nextpower Inc                                  | NEXTPOWER INC CL A                     | CUSIP: 65290E101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     87060 | NS      | $7583796.60   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Dutch Bros Inc                                 | DUTCH BROS INC                         | CUSIP: 26701L100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     58130 | NS      | $3558718.60   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| INVESCO GOVERNMENT & AGENCY PORTFOLIO          | INVESCO GVT & AGNCY-INST               | CUSIP: 825252885<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   5784345 | NS      | $5784345.03   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Oric Pharmaceuticals Inc                       | ORIC PHARMACEUTICALS INC               | CUSIP: 68622P109<br>LEI: 54930033FJRNEYBW0L25 | Long             | EC               | CORP              | US        |    200540 | NS      | $1640417.20   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Kontoor Brands, Inc.                           | KONTOOR BRANDS INC                     | CUSIP: 50050N103<br>LEI: 549300M0CPXV65RFF271 | Long             | EC               | CORP              | US        |     33520 | NS      | $2047736.80   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| PLANET FITNESS, INC.                           | PLANET FITNESS INC                     | CUSIP: 72703H101<br>LEI: 549300LLE5HUPF6H8G33 | Long             | EC               | CORP              | US        |     36120 | NS      | $3917936.40   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Freshworks Inc                                 | FRESHWORKS INC                         | CUSIP: 358054104<br>LEI: 254900ULRGCUEIK0K191 | Long             | EC               | CORP              | US        |    215560 | NS      | $2640610.00   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| VARONIS SYSTEMS, INC.                          | VARONIS SYSTEMS INC                    | CUSIP: 922280102<br>LEI: 549300SHIVNRRH7STS26 | Long             | EC               | CORP              | US        |     92360 | NS      | $3029408.00   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-30

**Name of Applicant:** Victory Portfolios

**Signature:** Carol Trevino

**Name of Signer:** Carol Trevino

**Title:** Treasurer