# EDGAR Filing Document

**Accession Number:** 0000802716
**File Stem:** 0001193125-25-246838
**Filing Date:** 2025-10
**Character Count:** 2767
**Document Hash:** 2be524b7edcb9647c4e1b3aaf02df7ca
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-246838.hdr.sgml**: 20251022

**ACCESSION NUMBER**: 0001193125-25-246838

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20251022

**DATE AS OF CHANGE**: 20251022

**EFFECTIVENESS DATE**: 20251022

**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:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-08982
- **FILM NUMBER:** 251410429

**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 Tax-Exempt Fund (Series ID: S000053573)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000168378 | Class A      | GUTEX           |
| C000168379 | Class C      | RETCX           |
| C000168380 | Class Y      | RSTYX           |

**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Victory Portfolios**

**Victory Tax Exempt Fund**

**(the "Fund")**

**Supplement dated October 22, 2025**

**to the Prospectus and Summary Prospectus dated May 1, 2025**

On October 21, 2025, the Board of Trustees of Victory Portfolios (the "Trust"), upon the recommendation of Victory Capital Management Inc., the Trust's investment adviser, approved a Plan of Liquidation ("Plan") for the Fund. It is anticipated that the Fund will liquidate on or about December 22, 2025. On the liquidation date, the Fund will redeem all its outstanding shares at the net asset value of such shares.

In anticipation of the liquidation, at the start of business on November 3, 2025, the Fund will be closed to new investors and shareholder accounts. Through the end of business on December 15, 2025, the Fund will continue to accept additional investments (including through the reinvestment of dividends and capital gains) from existing shareholders. In order to provide for an orderly liquidation and satisfy redemptions in anticipation of the liquidation, the Fund may deviate from its investment objective and strategies as the liquidation date approaches. It is anticipated that the Fund's portfolio will be positioned into cash on or some time prior to the liquidation date.

**If you wish to obtain more information, please call the Victory Funds at 800-539-3863.**

**PLEASE RETAIN THIS SUPPLEMENT FOR YOUR FUTURE REFERENCE.**

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