# EDGAR Filing Document

**Accession Number:** 0000802716
**File Stem:** 0001004726-25-002231
**Filing Date:** 2025-11
**Character Count:** 21656
**Document Hash:** df7d0fc81e0351aee05e377d3ec757f3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001004726-25-002231.hdr.sgml**: 20251125

**ACCESSION NUMBER**: 0001004726-25-002231

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251125

**DATE AS OF CHANGE**: 20251125

**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:** 251520315

**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 Value Fund (Series ID: S000053562)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000168336 | Class A      | RSVAX           |
| C000168337 | Class C      | RVACX           |
| C000168339 | Class Y      | RSVYX           |

## 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 Value Fund

- **b. EDGAR series identifier (if any):** S000053562

- **c. LEI of Series:** 5493003VFQCJZ7D2E402

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

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

- **b. Date as of which information is reported:** 2025-09-30

**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:** $257561866.94

**Total Liabilities:** $301384.45

**Net Assets:** $257260482.49

**Cash Not Reported:** $9271432.33

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000168336 | -0.28%               | 1.95%                | 0.59%                |
| Class ID C000168339 | -0.23%               | 1.98%                | 0.60%                |
| Class ID C000168337 | -0.35%               | 1.88%                | 0.53%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1942206.54             | $1224463.58                                |
| Month 2  | $2732928.84              | $2181867.93                                |
| Month 3  | $1522652.18              | $-228937.27                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CBOE GLOBAL MARKETS, INC.              | CBOE GLOBAL MARKETS INC            | CUSIP: 12503M108<br>LEI: 529900RLNSGA90UPEH54 | Long             | EC               | CORP              | US        |     11210 | NS      | $2749252.50   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS HEALTH CORPORATION                 | CVS HEALTH CORP                    | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |     61520 | NS      | $4637992.80   | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| PPL CORPORATION                        | PPL CORP                           | CUSIP: 69351T106<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | EC               | CORP              | US        |    160450 | NS      | $5962322.00   | 2.32%             |  |  |  | No            |                  1 | On Loan: No      |
| MATTEL, INC.                           | MATTEL INC                         | CUSIP: 577081102<br>LEI: 549300VELLG24KHTJ564 | Long             | EC               | CORP              | US        |    368890 | NS      | $6208418.70   | 2.41%             |  |  |  | No            |                  1 | On Loan: No      |
| CUBESMART                              | CUBESMART                          | CUSIP: 229663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     62440 | NS      | $2538810.40   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIZENS FINANCIAL GROUP, INC.         | CITIZENS FINANCIAL GROUP INC       | CUSIP: 174610105<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EC               | CORP              | US        |    103670 | NS      | $5511097.20   | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| EXPAND ENERGY CORPORATION              | EXPAND ENERGY CORP                 | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |     34230 | NS      | $3636595.20   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Suncor Energy Inc.                     | SUNCOR ENERGY INC                  | CUSIP: 867224107<br>LEI: 549300W70ZOQDVLCHY06 | Long             | EC               | CORP              | CA        |     67920 | NS      | $2839735.20   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| MARKETAXESS HOLDINGS INC.              | MARKETAXESS HOLDINGS INC           | CUSIP: 57060D108<br>LEI: 5493002U1CA1XJOVID83 | Long             | EC               | CORP              | US        |     18710 | NS      | $3260217.50   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBE LIFE INC.                        | GLOBE LIFE INC                     | CUSIP: 37959E102<br>LEI: 5493001JFHKQOPP6XA71 | Long             | EC               | CORP              | US        |     80630 | NS      | $11527671.10  | 4.48%             |  |  |  | No            |                  1 | On Loan: No      |
| CACI INTERNATIONAL INC.                | CACI INTERNATIONAL INC CLASS A     | CUSIP: 127190304<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | EC               | CORP              | US        |     10510 | NS      | $5242177.80   | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| OPTION CARE HEALTH, INC.               | OPTION CARE HEALTH INC             | CUSIP: 68404L201<br>LEI: 549300DI3Q5ACSYJRI17 | Long             | EC               | CORP              | US        |    116200 | NS      | $3225712.00   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| NNN REIT, INC.                         | NNN REIT INC                       | CUSIP: 637417106<br>LEI: 5493008JKH5SOTI0JS97 | Long             | EC               | CORP              | US        |    149120 | NS      | $6348038.40   | 2.47%             |  |  |  | No            |                  1 | On Loan: No      |
| CENTERPOINT ENERGY, INC.               | CENTERPOINT ENERGY INC             | CUSIP: 15189T107<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | EC               | CORP              | US        |    156160 | NS      | $6059008.00   | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| L3HARRIS TECHNOLOGIES, INC.            | L3HARRIS TECHNOLOGIES INC          | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |     14890 | NS      | $4547554.90   | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| AMETEK, INC.                           | AMETEK INC                         | CUSIP: 031100100<br>LEI: 549300WZDEF9KKE40E98 | Long             | EC               | CORP              | US        |     27770 | NS      | $5220760.00   | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| CAMDEN PROPERTY TRUST                  | CAMDEN PROPERTY TRUST              | CUSIP: 133131102<br>LEI: 5493002MYX22OHYJBD89 | Long             | EC               | CORP              | US        |     23920 | NS      | $2554177.60   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| EURONET WORLDWIDE, INC.                | EURONET WORLDWIDE INC              | CUSIP: 298736109<br>LEI: YG3575C4DSHJPA5KET68 | Long             | EC               | CORP              | US        |     53950 | NS      | $4737349.50   | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Nomad Foods Limited                    | NOMAD FOODS LTD                    | CUSIP: G6564A105<br>LEI: 5493000ZZ1837DS2SI43 | Long             | EC               | CORP              | VG        |    333260 | NS      | $4382369.00   | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| FISERV, INC.                           | FISERV INC                         | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | EC               | CORP              | US        |      9930 | NS      | $1280274.90   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| UMB FINANCIAL CORPORATION              | UMB FINANCIAL CORP                 | CUSIP: 902788108<br>LEI: 549300MGEH3N3CUCV828 | Long             | EC               | CORP              | US        |     38760 | NS      | $4587246.00   | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| TOLL BROTHERS, INC.                    | TOLL BROTHERS INC                  | CUSIP: 889478103<br>LEI: 529900JB6IS9MSZGVR44 | Long             | EC               | CORP              | US        |     33900 | NS      | $4682946.00   | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| ZEBRA TECHNOLOGIES CORPORATION         | ZEBRA TECHNOLOGIES CORP            | CUSIP: 989207105<br>LEI: PO0I32GKZ3HZMMDPZZ08 | Long             | EC               | CORP              | US        |     10090 | NS      | $2998344.40   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| FIDELITY NATIONAL FINANCIAL, INC       | FIDELITY NATIONAL FINANCIAL        | CUSIP: 31620R303<br>LEI: 549300CAZYIH39SYQ287 | Long             | EC               | CORP              | US        |     63900 | NS      | $3865311.00   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Everest Group, Ltd.                    | EVEREST GROUP LTD                  | CUSIP: G3223R108<br>LEI: 549300N24XF2VV0B3570 | Long             | EC               | CORP              | BM        |     11300 | NS      | $3957599.00   | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| PVH CORP.                              | PVH CORP                           | CUSIP: 693656100<br>LEI: 123WALMHY1GZXG2YDL90 | Long             | EC               | CORP              | US        |     42790 | NS      | $3584518.30   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| US FOODS HOLDING CORP.                 | US FOODS HOLDING CORP              | CUSIP: 912008109<br>LEI: 549300UGOZSO64CFPR97 | Long             | EC               | CORP              | US        |     66590 | NS      | $5102125.80   | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| WESCO INTERNATIONAL, INC.              | WESCO INTERNATIONAL                | CUSIP: 95082P105<br>LEI: 529900TXOGREY3WNJ434 | Long             | EC               | CORP              | US        |     25130 | NS      | $5314995.00   | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| ENCOMPASS HEALTH CORPORATION           | ENCOMPASS HEALTH CORP              | CUSIP: 29261A100<br>LEI: 549300FVRPM9DRQZRG64 | Long             | EC               | CORP              | US        |     48140 | NS      | $6114742.80   | 2.38%             |  |  |  | No            |                  1 | On Loan: No      |
| BATH & BODY WORKS, INC.                | BATH BODY WORKS INC                | CUSIP: 070830104<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | EC               | CORP              | US        |    134630 | NS      | $3468068.80   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| BAKER HUGHES COMPANY                   | BAKER HUGHES CO                    | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     98690 | NS      | $4808176.80   | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| AXALTA COATING SYSTEMS LTD.            | AXALTA COATING SYSTEMS LTD         | CUSIP: G0750C108<br>LEI: 529900AGLPA40GV6H619 | Long             | EC               | CORP              | BM        |     60020 | NS      | $1717772.40   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUITY LIFESTYLE PROPERTIES, INC.      | EQUITY LIFESTYLE PROPERTIES INC    | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               | CORP              | US        |     73400 | NS      | $4455380.00   | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| AGCO CORPORATION                       | AGCO CORP                          | CUSIP: 001084102<br>LEI: LYOM0B2GCF1JWXK5ZG04 | Long             | EC               | CORP              | US        |     38680 | NS      | $4141467.60   | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| TFI International Inc.                 | TFI INTERNATIONAL INC              | CUSIP: 87241L109<br>LEI: 5493007R9W7KO7SJN678 | Long             | EC               | CORP              | CA        |     31060 | NS      | $2735143.60   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| KEURIG DR PEPPER INC.                  | KEURIG DR PEPPER INC               | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |     84885 | NS      | $2165416.35   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| UNUM GROUP                             | UNUM GROUP                         | CUSIP: 91529Y106<br>LEI: 549300E32YFDO6TZ8R31 | Long             | EC               | CORP              | US        |     45700 | NS      | $3554546.00   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| PROSPERITY BANCSHARES, INC.            | PROSPERITY BANCSHARES INC          | CUSIP: 743606105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     70600 | NS      | $4684310.00   | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| TEVA PHARMACEUTICAL INDUSTRIES LIMITED | TEVA PHARMACEUTICAL INDUSTRIES LTD | CUSIP: 881624209<br>LEI: 549300BAFGM4RC74ZJ94 | Long             |  | CORP              | IL        |    359830 | NS      | $7268566.00   | 2.83%             |  |  |  | No            |                  1 | On Loan: No      |
| NOBLE CORPORATION PLC                  | NOBLE CORP PLC                     | CUSIP: G65431127<br>LEI: 549300I3HBUNXO0OG954 | Long             | EC               | CORP              | GB        |     93030 | NS      | $2630888.40   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| LAM RESEARCH CORPORATION               | LAM RESEARCH CORP                  | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |     43770 | NS      | $5860803.00   | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| THE TIMKEN COMPANY                     | TIMKEN CO                          | CUSIP: 887389104<br>LEI: B0I35MLPFXZSE70ASS73 | Long             | EC               | CORP              | US        |     71200 | NS      | $5352816.00   | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| VALERO ENERGY CORPORATION              | VALERO ENERGY CORP                 | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |     27630 | NS      | $4704283.80   | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| NICE LTD                               | NICE SYSTEM LTD SPONSORED ADR      | CUSIP: 653656108<br>LEI: 254900YTY4EF5Z4W0A51 | Long             |  | CORP              | IL        |     39800 | NS      | $5762244.00   | 2.24%             |  |  |  | No            |                  1 | On Loan: No      |
| FAIRFAX FINANCIAL HOLDINGS LIMITED     | FAIRFAX FINANCIAL HOLDINGS LTD     | CUSIP: 303901102<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | EC               | CORP              | CA        |      2930 | NS      | $5126815.67   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| SEALED AIR CORPORATION                 | SEALED AIR CORP                    | CUSIP: 81211K100<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | EC               | CORP              | US        |    162140 | NS      | $5731649.00   | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| TRIMBLE INC.                           | TRIMBLE INC                        | CUSIP: 896239100<br>LEI: 549300E2MI7NSZFQWS19 | Long             | EC               | CORP              | US        |     45190 | NS      | $3689763.50   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| SS&C TECHNOLOGIES HOLDINGS, INC.       | SSNC TECHNOLOGIES HLDGS INC        | CUSIP: 78467J100<br>LEI: 529900POY8H7NPPNKK71 | Long             | EC               | CORP              | US        |     86260 | NS      | $7656437.60   | 2.98%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRSTENERGY CORP.                      | FIRSTENERGY CORP                   | CUSIP: 337932107<br>LEI: 549300SVYJS666PQJH88 | Long             | EC               | CORP              | US        |    150160 | NS      | $6880331.20   | 2.67%             |  |  |  | No            |                  1 | On Loan: No      |
| TAKE-TWO INTERACTIVE SOFTWARE, INC.    | TAKE TWO INTERACTIVE SOFTWARE      | CUSIP: 874054109<br>LEI: BOMSTHHJK882EWYX3334 | Long             | EC               | CORP              | US        |      5590 | NS      | $1444232.40   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| KEYCORP                                | KEYCORP                            | CUSIP: 493267108<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | EC               | CORP              | US        |    310760 | NS      | $5808104.40   | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| API GROUP CORPORATION                  | API GROUP CORP                     | CUSIP: 00187Y100<br>LEI: 213800NZT1VX6PZ7BT53 | Long             | EC               | CORP              | US        |    105325 | NS      | $3620020.25   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| CHECK POINT SOFTWARE TECHNOLOGIES LTD. | CHECK POINT SOFTWARE TECHNOLOGIES  | CUSIP: M22465104<br>LEI: 2549003ZVBH73EPNS513 | Long             | EC               | CORP              | IL        |     12410 | NS      | $2567753.10   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| LEIDOS HOLDINGS, INC.                  | LEIDOS HOLDINGS INC                | CUSIP: 525327102<br>LEI: 549300IUTGTP6EJP8124 | Long             | EC               | CORP              | US        |     26480 | NS      | $5003660.80   | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| LITTELFUSE, INC.                       | LITTELFUSE INC                     | CUSIP: 537008104<br>LEI: 549300MY7HLQFYTPCX75 | Long             | EC               | CORP              | US        |     17320 | NS      | $4486053.20   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-30

**Name of Applicant:** Victory Portfolios

**Signature:** Carol Trevino

**Name of Signer:** Carol Trevino

**Title:** Treasurer