# EDGAR Filing Document

**Accession Number:** 0000802716
**File Stem:** 0001752724-23-041272
**Filing Date:** 2023-2
**Character Count:** 20239
**Document Hash:** 701be8d1bab32acaeaba99ca763b56ed
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-041272.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001752724-23-041272

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230227

**DATE AS OF CHANGE**: 20230227

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VICTORY PORTFOLIOS
- **CENTRAL INDEX KEY:** 0000802716
- **IRS NUMBER:** 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:** 23671070

**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 Large Cap Alpha Fund (Series ID: S000053560)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000168329 | Class A      | GPAFX           |
| C000168330 | Class C      | RCOCX           |
| C000168331 | Class R      | RCEKX           |
| C000168332 | Class Y      | RCEYX           |

## 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:** 4900 Tiedeman Road 4th Floor

  - **City:** Brooklyn

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 44144

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

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

- **a. Name of Series:** Victory RS Large Cap Alpha Fund

- **b. EDGAR series identifier (if any):** S000053560

- **c. LEI of Series:** 549300KHCTM3U5X5J271

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

- **a. Date of fiscal year-end:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**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:** $469215722.36

**Total Liabilities:** $410949.67

**Net Assets:** $468804772.69

**Cash Not Reported:** $13258046.56

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000168330 | 9.81%                | 4.15%                | -3.76%               |
| Class ID C000168331 | 9.87%                | 4.16%                | -3.72%               |
| Class ID C000168329 | 9.90%                | 4.22%                | -3.69%               |
| Class ID C000168332 | 9.93%                | 4.21%                | -3.67%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-2772606.91             | $45606611.53                               |
| Month 2  | $-1471453.76             | $21083224.49                               |
| Month 3  | $-1016742.92             | $-17931311.69                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| PPG INDUSTRIES, INC.                         | PPG INDUSTRIES INC                         | CUSIP: 693506107<br>LEI: 549300BKPEP01R3V6C59 | Long             | EC               | CORP              | US        |     64690 | NS      | $8134120.60   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBAL PAYMENTS INC.                         | GLOBAL PAYMENTS INC                        | CUSIP: 37940X102<br>LEI: 549300NOMHGVQBX6S778 | Long             | EC               | CORP              | US        |     25130 | NS      | $2495911.60   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| INVITATION HOMES INC.                        | INVITATION HOMES INC                       | CUSIP: 46187W107<br>LEI: 984500FE452E665C9F85 | Long             | EC               | CORP              | US        |    229660 | NS      | $6807122.40   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| LAMB WESTON HOLDINGS, INC.                   | LAMB WESTON HOLDING INC                    | CUSIP: 513272104<br>LEI: 5493005SMYID1D2OY946 | Long             | EC               | CORP              | US        |     60620 | NS      | $5417003.20   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Markel Corporation                           | MARKEL CORP                                | CUSIP: 570535104<br>LEI: 549300SCNO12JLWIK605 | Long             | EC               | CORP              | US        |     16310 | NS      | $21488261.90  | 4.58%             |  |  |  | No            |                  1 | On Loan: No      |
| THE PROGRESSIVE CORPORATION                  | PROGRESSIVE CORP                           | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |    133420 | NS      | $17305908.20  | 3.69%             |  |  |  | No            |                  1 | On Loan: No      |
| MARATHON OIL CORPORATION                     | MARATHON OIL CORP                          | CUSIP: 565849106<br>LEI: 1FRVQX2CRLGC1XLP5727 | Long             | EC               | CORP              | US        |    394330 | NS      | $10674513.10  | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| OVINTIV INC.                                 | OVINTIV INC                                | CUSIP: 69047Q102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    167430 | NS      | $8490375.30   | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| ABBVIE INC.                                  | ABBVIE INC                                 | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |     82650 | NS      | $13357066.50  | 2.85%             |  |  |  | No            |                  1 | On Loan: No      |
| ALEXANDRIA REAL ESTATE EQUITIES, INC.        | ALEXANDRIA REAL ESTATE EQUITIES INC        | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | EC               | CORP              | US        |     62510 | NS      | $9105831.70   | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| SENSATA TECHNOLOGIES HOLDING PLC             | SENSATA TECHNOLOGIES HOLDING               | CUSIP: G8060N102<br>LEI: 529900MS7KFYCY9MS037 | Long             | EC               | CORP              | GB        |    204940 | NS      | $8275477.20   | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| CONSTELLATION ENERGY CORPORATION.            | CONSTELLATION ENERGY CORP                  | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |     57463 | NS      | $4953885.23   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| FIDELITY NATIONAL INFORMATION SERVICES, INC. | FIDELITY NATIONAL INFORMATION SERVICES INC | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | EC               | CORP              | US        |    188780 | NS      | $12808723.00  | 2.73%             |  |  |  | No            |                  1 | On Loan: No      |
| MCKESSON CORPORATION                         | MCKESSON CORP                              | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |     14040 | NS      | $5266684.80   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| FLEETCOR TECHNOLOGIES, INC.                  | FLEETCOR TECHNOLOGIES INC                  | CUSIP: 339041105<br>LEI: 549300DG6RR0NQSFLN74 | Long             | EC               | CORP              | US        |     30080 | NS      | $5525094.40   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| EXELON CORPORATION                           | EXELON CORP                                | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |    199280 | NS      | $8614874.40   | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| RAYTHEON TECHNOLOGIES CORPORATION            | RAYTHEON TECHNOLOGIES                      | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |     59462 | NS      | $6000905.04   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| UNION PACIFIC CORPORATION                    | UNION PACIFIC CORP                         | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |     21560 | NS      | $4464429.20   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| ALPHABET INC.                                | ALPHABET INC CLASS A                       | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     92630 | NS      | $8172744.90   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| KEURIG DR PEPPER INC.                        | KEURIG DR PEPPER INC                       | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |    265360 | NS      | $9462737.60   | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| US FOODS HOLDING CORP.                       | US FOODS HOLDING CORP                      | CUSIP: 912008109<br>LEI: 549300UGOZSO64CFPR97 | Long             | EC               | CORP              | US        |    271130 | NS      | $9223842.60   | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| ENTERPRISE PRODUCTS PARTNERS L.P.            | ENTERPRISE PRODUCTS PARTNERS LP            | CUSIP: 293792107<br>LEI: K4CDIF4M54DJZ6TB4Q48 | Long             |  | CORP              | US        |    402790 | NS      | $9715294.80   | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| JOHNSON & JOHNSON                            | JOHNSON JOHNSON                            | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     47780 | NS      | $8440337.00   | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| PACCAR INC                                   | PACCAR INC                                 | CUSIP: 693718108<br>LEI: KDTEY8BWE486IKZ3CC07 | Long             | EC               | CORP              | US        |     38650 | NS      | $3825190.50   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| SEALED AIR CORPORATION                       | SEALED AIR CORP                            | CUSIP: 81211K100<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | EC               | CORP              | US        |    206982 | NS      | $10324262.16  | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCK & CO., INC.                            | MERCK CO INC                               | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |    132680 | NS      | $14720846.00  | 3.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Cboe Global Markets, Inc.                    | CBOE GLOBAL MARKETS INC                    | CUSIP: 12503M108<br>LEI: 529900RLNSGA90UPEH54 | Long             | EC               | CORP              | US        |    117500 | NS      | $14742725.00  | 3.14%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUITY LIFESTYLE PROPERTIES, INC.            | EQUITY LIFESTYLE PROPERTIES INC            | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               | CORP              | US        |     73120 | NS      | $4723552.00   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| STATE STREET CORPORATION                     | STATE STREET CORP                          | CUSIP: 857477103<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EC               | CORP              | US        |    103260 | NS      | $8009878.20   | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| HESS CORPORATION                             | HESS CORP                                  | CUSIP: 42809H107<br>LEI: UASVRYNXNK17ULIGK870 | Long             | EC               | CORP              | US        |     63370 | NS      | $8987133.40   | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Mondelez International, Inc.                 | MONDELEZ INTERNATIONAL INC                 | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |    175300 | NS      | $11683745.00  | 2.49%             |  |  |  | No            |                  1 | On Loan: No      |
| LKQ CORPORATION                              | LKQ CORPORATION                            | CUSIP: 501889208<br>LEI: DS830JTTZQN6GK0I2E41 | Long             | EC               | CORP              | US        |    157790 | NS      | $8427563.90   | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| DARDEN RESTAURANTS, INC.                     | DARDEN RESTAURANTS INC                     | CUSIP: 237194105<br>LEI: CY1NFSCCB5GUXC7WZC70 | Long             | EC               | CORP              | US        |     39420 | NS      | $5452968.60   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| CIGNA CORPORATION                            | CIGNA CORP                                 | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |     33690 | NS      | $11162844.60  | 2.38%             |  |  |  | No            |                  1 | On Loan: No      |
| FAIRFAX FINANCIAL HOLDINGS LIMITED           | FAIRFAX FINANCIAL HOLDINGS LTD             | CUSIP: 303901102<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | EC               | CORP              | CA        |     42320 | NS      | $25072833.80  | 5.35%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITEDHEALTH GROUP INCORPORATED              | UNITEDHEALTH GROUP INC                     | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |     23155 | NS      | $12276317.90  | 2.62%             |  |  |  | No            |                  1 | On Loan: No      |
| FEDEX CORPORATION                            | FEDEX CORP                                 | CUSIP: 31428X106<br>LEI: 549300E707U7WNPZN687 | Long             | EC               | CORP              | US        |     24360 | NS      | $4219152.00   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| VISTRA CORP.                                 | VISTRA CORP                                | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |    741030 | NS      | $17191896.00  | 3.67%             |  |  |  | No            |                  1 | On Loan: No      |
| L3HARRIS TECHNOLOGIES, INC.                  | L3HARRIS TECHNOLOGIES INC                  | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |     24040 | NS      | $5005368.40   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| HUMANA INC.                                  | HUMANA INC                                 | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |     23120 | NS      | $11841832.80  | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |
| JOHNSON CONTROLS INTERNATIONAL PLC           | JOHNSON CONTROLS INTERNATIONAL PLC         | CUSIP: G51502105<br>LEI: 549300XQ6S1GYKGBL205 | Long             | EC               | CORP              | IE        |    140860 | NS      | $9015040.00   | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| EATON CORPORATION PUBLIC LIMITED COMPANY     | EATON CORP PLC                             | CUSIP: G29183103<br>LEI: 549300VDIGTMXUNT7H71 | Long             | EC               | CORP              | IE        |     37260 | NS      | $5847957.00   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO.                         | JPMORGAN CHASE CO                          | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     52680 | NS      | $7064388.00   | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| BROWN & BROWN, INC.                          | BROWN BROWN INC                            | CUSIP: 115236101<br>LEI: 549300PC8KTJ71XKFY89 | Long             | EC               | CORP              | US        |    258240 | NS      | $14711932.80  | 3.14%             |  |  |  | No            |                  1 | On Loan: No      |
| MATTEL, INC.                                 | MATTEL INC                                 | CUSIP: 577081102<br>LEI: 549300VELLG24KHTJ564 | Long             | EC               | CORP              | US        |    248320 | NS      | $4430028.80   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| MEDTRONIC PUBLIC LIMITED COMPANY             | MEDTRONIC PLC                              | CUSIP: G5960L103<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |    151930 | NS      | $11807999.60  | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| LEIDOS HOLDINGS, INC.                        | LEIDOS HOLDINGS INC                        | CUSIP: 525327102<br>LEI: 549300IUTGTP6EJP8124 | Long             | EC               | CORP              | US        |     84170 | NS      | $8853842.30   | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERACTIVE BROKERS GROUP, INC.              | INTERACTIVE BROKERS GROUP INC              | CUSIP: 45841N107<br>LEI: 5493004DT6DCDUZNDM53 | Long             | EC               | CORP              | US        |    159690 | NS      | $11553571.50  | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-30

**Name of Applicant:** Victory Portfolios

**Signature:** Allan Shaer

**Name of Signer:** Allan Shaer

**Title:** Treasurer