# EDGAR Filing Document

**Accession Number:** 0000802716
**File Stem:** 0001004726-25-002236
**Filing Date:** 2025-11
**Character Count:** 35015
**Document Hash:** 296f7df015bb573e678fe258c2b6d9eb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001004726-25-002236.hdr.sgml**: 20251125

**ACCESSION NUMBER**: 0001004726-25-002236

**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:** 251520323

**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 Mid Cap Growth Fund (Series ID: S000053578)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000168396 | Class A      | RSMOX           |
| C000168397 | Class C      | RMOCX           |
| C000168399 | Class Y      | RMOYX           |
| C000172969 | Class R6     | RMORX           |
| C000219869 | Member Class | RMOMX           |

## 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 Mid Cap Growth Fund

- **b. EDGAR series identifier (if any):** S000053578

- **c. LEI of Series:** 54930021JIMQW21CEP55

**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:** $72988521.96

**Total Liabilities:** $1093222.31

**Net Assets:** $71895299.65

**Cash Not Reported:** $1830928.11

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000172969 | 3.10%                | 0.15%                | -0.45%               |
| Class ID C000168399 | 3.11%                | 0.15%                | -0.45%               |
| Class ID C000168396 | 3.06%                | 0.12%                | -0.45%               |
| Class ID C000219869 | 3.12%                | 0.12%                | -0.44%               |
| Class ID C000168397 | 3.03%                | 0.05%                | -0.54%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $667019.72               | $1421564.48                                |
| Month 2  | $811425.35               | $-686712.17                                |
| Month 3  | $369706.57               | $-655648.00                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CLEAN HARBORS, INC.                            | CLEAN HARBORS INC                   | CUSIP: 184496107<br>LEI: 5493000SJVZVZJKHJF48 | Long             | EC               | CORP              | US        |      3300 | NS      | $766326.00    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| MSILF Government Portfolio                     | MSILF GOVERNMENT-INST               | CUSIP: 61747C707<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    246876 | NS      | $246875.81    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERIPRISE FINANCIAL, INC.                     | AMERIPRISE FINANCIAL INC            | CUSIP: 03076C106<br>LEI: 6ZLKQF7QB6JAEKQS5388 | Long             | EC               | CORP              | US        |      2320 | NS      | $1139700.00   | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEXX LABORATORIES, INC.                       | IDEXX LABORATORIES INC              | CUSIP: 45168D104<br>LEI: OGMTXK0LUU1HKV2P0J84 | Long             | EC               | CORP              | US        |       560 | NS      | $357778.40    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| FLOWSERVE CORPORATION                          | FLOWSERVE CORP                      | CUSIP: 34354P105<br>LEI: 6Y0GK87T6V7NJKZJVM41 | Long             | EC               | CORP              | US        |      8780 | NS      | $466569.20    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| TRADEWEB MARKETS INC.                          | TRADEWEB MARKETS INC                | CUSIP: 892672106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3690 | NS      | $409516.20    | 0.57%             |  |  |  | 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        |    246876 | NS      | $246875.82    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| ALNYLAM PHARMACEUTICALS, INC.                  | ALNYLAM PHARMACEUTICALS INC         | CUSIP: 02043Q107<br>LEI: 529900S3ZI14OWRJII50 | Long             | EC               | CORP              | US        |      2770 | NS      | $1263120.00   | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| FLUTTER ENTERTAINMENT PUBLIC LIMITED COMPANY   | FLUTTER ENTERTAINMENT PLC DI        | CUSIP: G3643J108<br>LEI: 635400EG4YIJLJMZJ782 | Long             | EC               | CORP              | IE        |      3360 | NS      | $853440.00    | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| NOVANTA INC.                                   | NOVANTA INC                         | CUSIP: 67000B104<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |      3970 | NS      | $397595.50    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Coherent Corp.                                 | COHERENT CORP                       | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               | CORP              | US        |      7300 | NS      | $786356.00    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLOVIN CORPORATION                           | APPLOVIN CORP                       | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |      2030 | NS      | $1458636.20   | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| HEICO CORPORATION                              | HEICO CORPORATION CL A              | CUSIP: 422806208<br>LEI: 529900O1DTDLCJ7L0I14 | Long             | EC               | CORP              | US        |      3200 | NS      | $813088.00    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| PTC INC.                                       | PTC INC                             | CUSIP: 69370C100<br>LEI: 54930050SSMU8SKDJ030 | Long             | EC               | CORP              | US        |      5330 | NS      | $1082096.60   | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| TAKE-TWO INTERACTIVE SOFTWARE, INC.            | TAKE TWO INTERACTIVE SOFTWARE       | CUSIP: 874054109<br>LEI: BOMSTHHJK882EWYX3334 | Long             | EC               | CORP              | US        |      2930 | NS      | $756994.80    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| CURTISS-WRIGHT CORPORATION                     | CURTISS WRIGHT CORP                 | CUSIP: 231561101<br>LEI: TEL51ETZWP7D0ZM4X325 | Long             | EC               | CORP              | US        |       820 | NS      | $445210.80    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| BWX TECHNOLOGIES, INC.                         | BWX TECHNOLOGIES INC                | CUSIP: 05605H100<br>LEI: 549300NP85N265KWMS58 | Long             | EC               | CORP              | US        |      3340 | NS      | $615795.80    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| FIVE BELOW, INC.                               | FIVE BELOW                          | CUSIP: 33829M101<br>LEI: 529900AAXP5Z6BGI7418 | Long             | EC               | CORP              | US        |      5040 | NS      | $779688.00    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| COINBASE GLOBAL, INC.                          | COINBASE GLOBAL INC                 | CUSIP: 19260Q107<br>LEI: 5493004G3J2SC154DU06 | Long             | EC               | CORP              | US        |      1140 | NS      | $384738.60    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| MSCI INC.                                      | MSCI INC COMMON                     | CUSIP: 55354G100<br>LEI: 549300HTIN2PD78UB763 | Long             | EC               | CORP              | US        |      1300 | NS      | $737633.00    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| PLANET FITNESS, INC.                           | PLANET FITNESS INC                  | CUSIP: 72703H101<br>LEI: 549300LLE5HUPF6H8G33 | Long             | EC               | CORP              | US        |      8940 | NS      | $927972.00    | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| TOAST, INC.                                    | TOAST INC                           | CUSIP: 888787108<br>LEI: 549300TN1PZNLCD4I551 | Long             | EC               | CORP              | US        |     14240 | NS      | $519902.40    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| ROBLOX CORPORATION                             | ROBLOX CORP                         | CUSIP: 771049103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12330 | NS      | $1707951.60   | 2.38%             |  |  |  | No            |                  1 | On Loan: No      |
| ROCKWELL AUTOMATION, INC.                      | ROCKWELL AUTOMATION INC             | CUSIP: 773903109<br>LEI: VH3R4HHBHH12O0EXZJ88 | Long             | EC               | CORP              | US        |       420 | NS      | $146802.60    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| EURONET WORLDWIDE, INC.                        | EURONET WORLDWIDE INC               | CUSIP: 298736109<br>LEI: YG3575C4DSHJPA5KET68 | Long             | EC               | CORP              | US        |      4060 | NS      | $356508.60    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| DYNATRACE, INC.                                | DYNATRACE INC                       | CUSIP: 268150109<br>LEI: 6488T0Z33CE9L61EX904 | Long             | EC               | CORP              | US        |     12850 | NS      | $622582.50    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| VERTIV HOLDINGS CO                             | VERTIV HOLDINGS CO                  | CUSIP: 92537N108<br>LEI: 549300KTTIRAOGXCRV69 | Long             | EC               | CORP              | US        |     10130 | NS      | $1528211.80   | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| BURLINGTON STORES, INC.                        | BURLINGTON STORES INC               | CUSIP: 122017106<br>LEI: 5299003Z37DVGKKC1W09 | Long             | EC               | CORP              | US        |      5490 | NS      | $1397205.00   | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| HUBSPOT, INC.                                  | HUBSPOT INC                         | CUSIP: 443573100<br>LEI: 529900BLNVEW0MVKJB37 | Long             | EC               | CORP              | US        |      1880 | NS      | $879464.00    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| AFFIRM HOLDINGS, INC.                          | AFFIRM HOLDINGS INC                 | CUSIP: 00827B106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5230 | NS      | $382208.40    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| CHENIERE ENERGY, INC.                          | CHENIERE ENERGY INC                 | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |      4350 | NS      | $1022163.00   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| DIAMONDBACK ENERGY, INC.                       | DIAMONDBACK ENERGY INC              | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |      2060 | NS      | $294786.00    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| TRIMBLE INC.                                   | TRIMBLE INC                         | CUSIP: 896239100<br>LEI: 549300E2MI7NSZFQWS19 | Long             | EC               | CORP              | US        |      7970 | NS      | $650750.50    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRSTCASH HOLDINGS, INC.                       | FIRSTCASH HOLDINGS INC              | CUSIP: 33768G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6940 | NS      | $1099434.80   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| WISDOMTREE, INC.                               | WISDOMTREE INC                      | CUSIP: 97717P104<br>LEI: 549300WIU8IS7UFO7871 | Long             | EC               | CORP              | US        |     24930 | NS      | $346527.00    | 0.48%             |  |  |  | No            |                  1 | On Loan: —       |
| VISTRA CORP.                                   | VISTRA CORP                         | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |      7960 | NS      | $1559523.20   | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| HEALTHEQUITY, INC.                             | HEALTHEQUITY INC                    | CUSIP: 42226A107<br>LEI: 529900LRJU1RAFQHM467 | Long             | EC               | CORP              | US        |      6320 | NS      | $598946.40    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| WINGSTOP INC.                                  | WINGSTOP INC                        | CUSIP: 974155103<br>LEI: 549300SSH3F8HPIM3Q47 | Long             | EC               | CORP              | US        |      2220 | NS      | $558729.60    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| DATADOG, INC.                                  | DATADOG INC CLASS A                 | CUSIP: 23804L103<br>LEI: 549300F6JNO0KRPO1K63 | Long             | EC               | CORP              | US        |      7120 | NS      | $1013888.00   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| CYBERARK SOFTWARE LTD.                         | CYBERARK SOFTWARE LTD               | CUSIP: M2682V108<br>LEI: 529900YEXNDM894PWS93 | Long             | EC               | CORP              | IL        |      1650 | NS      | $797197.50    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Maplebear Inc                                  | MAPLEBEAR INC                       | CUSIP: 565394103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15020 | NS      | $552135.20    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| CHAMPION HOMES, INC                            | CHAMPION HOMES INC                  | CUSIP: 830830105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4400 | NS      | $336028.00    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| ASCENDIS PHARMA A/S                            | ASCENDIS PHARMA A S ADR             | CUSIP: 04351P101<br>LEI: 549300B66JN3W3J8GH73 | Long             |  | CORP              | DK        |      1910 | NS      | $379727.10    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| HUNTINGTON BANCSHARES INCORPORATED             | HUNTINGTON BANCSHARES INC OH        | CUSIP: 446150104<br>LEI: 549300XTVCVV9I7B5T19 | Long             | EC               | CORP              | US        |     36680 | NS      | $633463.60    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| CORE & MAIN, INC.                              | CORE MAIN INC                       | CUSIP: 21874C102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6780 | NS      | $364967.40    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| VERISK ANALYTICS, INC.                         | VERISK ANALYTICS INC                | CUSIP: 92345Y106<br>LEI: 549300I1YSWNIRKBWP67 | Long             | EC               | CORP              | US        |      2910 | NS      | $731894.10    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Waystar Holding Corp                           | WAYSTAR HOLDING CORP                | CUSIP: 946784105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17712 | NS      | $671639.04    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Dutch Bros Inc                                 | DUTCH BROS INC                      | CUSIP: 26701L100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12060 | NS      | $631220.40    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| FTAI Aviation Ltd,                             | FTAI AVIATION LTD                   | CUSIP: G3730V105<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |      6660 | NS      | $1111287.60   | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS FINANCIAL SQUARE GOVERNMENT FUND | GLDMN SCHS FIN SQ GV-FST            | CUSIP: 38141W273<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    246876 | NS      | $246875.81    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| MASIMO CORPORATION                             | MASIMO CORP                         | CUSIP: 574795100<br>LEI: 549300Q4A8JK0PIYCU29 | Long             | EC               | CORP              | US        |      2630 | NS      | $388056.50    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| CELSIUS HOLDINGS, INC.                         | CELSIUS HOLDINGS INC                | CUSIP: 15118V207<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17990 | NS      | $1034245.10   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| CLOUDFLARE, INC.                               | CLOUDFLARE INC CLASS A              | CUSIP: 18915M107<br>LEI: 5493007DY18BGNLDWU14 | Long             | EC               | CORP              | US        |      7880 | NS      | $1690969.20   | 2.35%             |  |  |  | No            |                  1 | On Loan: No      |
| INVESCO GOVERNMENT & AGENCY PORTFOLIO          | INVESCO GVT & AGNCY-INST            | CUSIP: 825252885<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    246876 | NS      | $246875.81    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| ZSCALER, INC.                                  | ZSCALER INC                         | CUSIP: 98980G102<br>LEI: 529900MZ0RTK1BWRNF46 | Long             | EC               | CORP              | US        |      1990 | NS      | $596323.40    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| MACOM TECHNOLOGY SOLUTIONS HOLDINGS, INC.      | MACOM TECHNOLOGY SOLUTIONS HOL      | CUSIP: 55405Y100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5460 | NS      | $679715.40    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| VEEVA SYSTEMS INC.                             | VEEVA SYSTEMS INC                   | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Long             | EC               | CORP              | US        |      3270 | NS      | $974165.70    | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| FAIR ISAAC CORPORATION                         | FAIR ISAAC CORP                     | CUSIP: 303250104<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | EC               | CORP              | US        |       340 | NS      | $508820.20    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| QUANTA SERVICES, INC.                          | QUANTA SERVICES INC                 | CUSIP: 74762E102<br>LEI: SHVRXXEACT60MMH07S24 | Long             | EC               | CORP              | US        |      1850 | NS      | $766677.00    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| ARGAN, INC.                                    | ARGAN INC                           | CUSIP: 04010E109<br>LEI: 529900E4KZWBV9KGBS83 | Long             | EC               | CORP              | US        |      2770 | NS      | $748038.50    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Duolingo Inc                                   | DUOLINGO INC                        | CUSIP: 26603R106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1270 | NS      | $408736.80    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| HILTON WORLDWIDE HOLDINGS INC.                 | HILTON WORLDWIDE HOLDINGS INC       | CUSIP: 43300A203<br>LEI: 549300HVGPK36ICB0B89 | Long             | EC               | CORP              | US        |      5460 | NS      | $1416542.40   | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| BUILDERS FIRSTSOURCE, INC.                     | BUILDERS FIRSTSOURCE INC            | CUSIP: 12008R107<br>LEI: 549300W0SKP6L3H7DP63 | Long             | EC               | CORP              | US        |      2730 | NS      | $331012.50    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| PERMIAN RESOURCES CORPORATION                  | PERMIAN RESOURCES CORP COM          | CUSIP: 71424F105<br>LEI: 529900NXUJPOKU7OJ511 | Long             | EC               | CORP              | US        |     35110 | NS      | $449408.00    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| REDDIT INC.                                    | REDDIT INC                          | CUSIP: 75734B100<br>LEI: 529900APN1YHPBHPI679 | Long             | EC               | CORP              | US        |      3190 | NS      | $733668.10    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| WOODWARD, INC.                                 | WOODWARD INC                        | CUSIP: 980745103<br>LEI: YPYKXXTR8TFDH54ZMB45 | Long             | EC               | CORP              | US        |      3950 | NS      | $998204.50    | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| SHIFT4 PAYMENTS, INC                           | SHIFT4 PAYMENTS INC CLASS A         | CUSIP: 82452J109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8440 | NS      | $653256.00    | 0.91%             |  |  |  | No            |                  1 | On Loan: —       |
| CARVANA CO.                                    | CARVANA CO                          | CUSIP: 146869102<br>LEI: 5493003WEAK2PJ5WS063 | Long             | EC               | CORP              | US        |      4080 | NS      | $1539139.20   | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| PINTEREST, INC.                                | PINTEREST INC                       | CUSIP: 72352L106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     36570 | NS      | $1176456.90   | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| STRATEGY INC                                   | STRATEGY INC                        | CUSIP: 594972408<br>LEI: 549300WQTWEJUEHXQX21 | Long             | EC               | CORP              | US        |      1180 | NS      | $380207.80    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| UNIVERSAL TECHNICAL INSTITUTE, INC.            | UNIVERSAL TECHNICAL INSTITUTE INC   | CUSIP: 913915104<br>LEI: 2549003YOJGAZ0PVFV48 | Long             | EC               | CORP              | US        |     11130 | NS      | $362281.50    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| THE TRADE DESK, INC.                           | THE TRADE DESK INC CLASS A          | CUSIP: 88339J105<br>LEI: 549300GXPD31VT3E0P46 | Long             | EC               | CORP              | US        |      4990 | NS      | $244559.90    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| MONOLITHIC POWER SYSTEMS, INC.                 | MONOLITHIC POWER SYSTEMS INC        | CUSIP: 609839105<br>LEI: 529900TB7O85LSZ1XU31 | Long             | EC               | CORP              | US        |      1830 | NS      | $1684771.20   | 2.34%             |  |  |  | No            |                  1 | On Loan: No      |
| COMFORT SYSTEMS USA, INC.                      | COMFORT SYSTEMS USA INC             | CUSIP: 199908104<br>LEI: 5299009DT1ZA5HTU6R38 | Long             | EC               | CORP              | US        |      1040 | NS      | $858187.20    | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| CHIPOTLE MEXICAN GRILL, INC.                   | CHIPOTLE MEXICAN GRILL INC          | CUSIP: 169656105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6380 | NS      | $250032.20    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| INSMED INCORPORATED                            | INSMED INC                          | CUSIP: 457669307<br>LEI: 529900Q55QAG41CCAC11 | Long             | EC               | CORP              | US        |      6140 | NS      | $884221.40    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| NATERA, INC.                                   | NATERA INC                          | CUSIP: 632307104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5590 | NS      | $899822.30    | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| CENCORA, INC.                                  | CENCORA INC                         | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |      3560 | NS      | $1112606.80   | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| RYAN SPECIALTY HOLDINGS, INC.                  | RYAN SPECIALTY HOLDINGS INC         | CUSIP: 78351F107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6960 | NS      | $392265.60    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| MUELLER WATER PRODUCTS, INC.                   | MUELLER WATER PRODUCTS INC          | CUSIP: 624758108<br>LEI: 549300F7ZU4P1F8V8L60 | Long             | EC               | CORP              | US        |     27850 | NS      | $710732.00    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| AXON ENTERPRISE, INC.                          | AXON ENTERPRISE INC                 | CUSIP: 05464C101<br>LEI: 549300QP2IEEGFE16681 | Long             | EC               | CORP              | US        |      1740 | NS      | $1248693.60   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| BJ'S WHOLESALE CLUB HOLDINGS, INC.             | BJ S WHOLESALE CLUB HOLDINGS INC    | CUSIP: 05550J101<br>LEI: 549300UCIWH1C93V0J03 | Long             | EC               | CORP              | US        |      5500 | NS      | $512875.00    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| HOWMET AEROSPACE INC.                          | HOWMET AEROSPACE INC                | CUSIP: 443201108<br>LEI: 549300HO5WFZUT5N2T22 | Long             | EC               | CORP              | US        |      9450 | NS      | $1854373.50   | 2.58%             |  |  |  | No            |                  1 | On Loan: No      |
| DEXCOM, INC.                                   | DEXCOM INC                          | CUSIP: 252131107<br>LEI: 549300YSK3QDSFR5EU59 | Long             | EC               | CORP              | US        |      9530 | NS      | $641273.70    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| PENUMBRA, INC.                                 | PENUMBRA INC                        | CUSIP: 70975L107<br>LEI: 549300RGE06P3ECANU72 | Long             | EC               | CORP              | US        |      2140 | NS      | $542104.80    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| ULTA BEAUTY, INC.                              | ULTA BEAUTY INC                     | CUSIP: 90384S303<br>LEI: 529900CIV6HN8M28YM82 | Long             | EC               | CORP              | US        |      1740 | NS      | $951345.00    | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| WINTRUST FINANCIAL CORPORATION                 | WINTRUST FINANCIAL CORP             | CUSIP: 97650W108<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EC               | CORP              | US        |      5020 | NS      | $664848.80    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES LTD.                   | ROYAL CARIBBEAN CRUISES LTD         | CUSIP: V7780T103<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | EC               | CORP              | LR        |      5910 | NS      | $1912357.80   | 2.66%             |  |  |  | No            |                  1 | On Loan: No      |
| OLLIE'S BARGAIN OUTLET HOLDINGS, INC.          | OLLIE S BARGAIN OUTLET HOLDINGS INC | CUSIP: 681116109<br>LEI: 529900YO5DSQCPEFDZ05 | Long             | EC               | CORP              | US        |      6540 | NS      | $839736.00    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| LPL FINANCIAL HOLDINGS INC.                    | LPL FINANCIAL HOLDINGS INC          | CUSIP: 50212V100<br>LEI: 549300XROQ4Y8G2L7682 | Long             | EC               | CORP              | US        |      2590 | NS      | $861667.10    | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| KINSALE CAPITAL GROUP, INC.                    | KINSALE CAPITAL GROUP INC           | CUSIP: 49714P108<br>LEI: 529900QTUQHNZ6HOA508 | Long             | EC               | CORP              | US        |       710 | NS      | $301934.60    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| CONSTELLATION ENERGY CORPORATION.              | CONSTELLATION ENERGY CORP           | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |      2010 | NS      | $661430.70    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| INSULET CORPORATION                            | INSULET CORP                        | CUSIP: 45784P101<br>LEI: 549300TZTYD2PYN92D43 | Long             | EC               | CORP              | US        |      2830 | NS      | $873705.90    | 1.22%             |  |  |  | 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