# EDGAR Filing Document

**Accession Number:** 0000802716
**File Stem:** 0001004726-25-002233
**Filing Date:** 2025-11
**Character Count:** 27700
**Document Hash:** 6629f17da9930950387cb34a665ba4d0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001004726-25-002233.hdr.sgml**: 20251125

**ACCESSION NUMBER**: 0001004726-25-002233

**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:** 251520317

**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 Partners Fund (Series ID: S000053561)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000168333 | Class A      | RSPFX           |
| C000168334 | Class R      | RSPKX           |
| C000168335 | Class Y      | RSPYX           |
| C000219866 | Member Class | RSPMX           |
| C000244343 | Class R6     | RPPRX           |

## 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 Partners Fund

- **b. EDGAR series identifier (if any):** S000053561

- **c. LEI of Series:** 549300GYG26BSOTCMW34

**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:** $569272357.37

**Total Liabilities:** $3955661.13

**Net Assets:** $565316696.24

**Cash Not Reported:** $22471859.68

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000219866 | 0.55%                | 4.51%                | -1.53%               |
| Class ID C000244343 | 0.53%                | 4.57%                | -1.52%               |
| Class ID C000168335 | 0.53%                | 4.56%                | -1.51%               |
| Class ID C000168334 | 0.48%                | 4.47%                | -1.58%               |
| Class ID C000168333 | 0.51%                | 4.53%                | -1.54%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $3652948.84              | $-1791147.29                               |
| Month 2  | $2456773.55              | $21276591.69                               |
| Month 3  | $7022835.55              | $-16516951.31                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| COPT DEFENSE PROPERTIES                        | COPT DEFENSE PROPERTIES                 | CUSIP: 22002T108<br>LEI: YY1J47X6LF9TYY8JY420 | Long             | EC               | CORP              | US        |    189490 | NS      | $5506579.40   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| UMB FINANCIAL CORPORATION                      | UMB FINANCIAL CORP                      | CUSIP: 902788108<br>LEI: 549300MGEH3N3CUCV828 | Long             | EC               | CORP              | US        |    130734 | NS      | $15472368.90  | 2.74%             |  |  |  | No            |                  1 | On Loan: No      |
| INDEPENDENCE REALTY TRUST, INC                 | INDEPENDENCE REALTY TRUST INC           | CUSIP: 45378A106<br>LEI: 549300Z3L8NU44NQEB29 | Long             | EC               | CORP              | US        |    431690 | NS      | $7075399.10   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| EURONET WORLDWIDE, INC.                        | EURONET WORLDWIDE INC                   | CUSIP: 298736109<br>LEI: YG3575C4DSHJPA5KET68 | Long             | EC               | CORP              | US        |    112530 | NS      | $9881259.30   | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| ONTO INNOVATION INC.                           | ONTO INNOVATION INC                     | CUSIP: 683344105<br>LEI: 254900RXZVN73CHOO062 | Long             | EC               | CORP              | US        |     65590 | NS      | $8475539.80   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| KNIFE RIVER CORPORATION                        | KNIFE RIVER CORP                        | CUSIP: 498894104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     74430 | NS      | $5721434.10   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| ALAMO GROUP INC.                               | ALAMO GROUP INC                         | CUSIP: 011311107<br>LEI: 54930080C93RVZRSDV26 | Long             | EC               | CORP              | US        |     20530 | NS      | $3919177.00   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| INVESCO GOVERNMENT & AGENCY PORTFOLIO          | INVESCO GVT & AGNCY-INST                | CUSIP: 825252885<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    523626 | NS      | $523625.94    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| H2O AMERICA                                    | H20 AMERICA                             | CUSIP: 784305104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    171160 | NS      | $8335492.00   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| COEUR MINING, INC.                             | COEUR MINING INC                        | CUSIP: 192108504<br>LEI: 5493003AVK173D48DR70 | Long             | EC               | CORP              | US        |    391770 | NS      | $7349605.20   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW JERSEY RESOURCES CORPORATION               | NEW JERSEY RESOURCES CORP               | CUSIP: 646025106<br>LEI: 549300QKBSQBIX4DQ583 | Long             | EC               | CORP              | US        |    131780 | NS      | $6345207.00   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| PVH CORP.                                      | PVH CORP                                | CUSIP: 693656100<br>LEI: 123WALMHY1GZXG2YDL90 | Long             | EC               | CORP              | US        |     79150 | NS      | $6630395.50   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| MADISON SQUARE GARDEN SPORTS CORP.             | MADISON SQ GARDEN SPORTS                | CUSIP: 55825T103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27810 | NS      | $6312870.00   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| HAYWARD HOLDINGS, INC.                         | HAYWARD HOLDINGS INC                    | CUSIP: 421298100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    465990 | NS      | $7045768.80   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| GULFPORT ENERGY CORPORATION                    | GULFPORT ENERGY CORP                    | CUSIP: 402635502<br>LEI: 254900DJRGZBUZ3F5038 | Long             | EC               | CORP              | US        |     45000 | NS      | $8144100.00   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| V2X, INC.                                      | V2X INC                                 | CUSIP: 92242T101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    213210 | NS      | $12385368.90  | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBE LIFE INC.                                | GLOBE LIFE INC                          | CUSIP: 37959E102<br>LEI: 5493001JFHKQOPP6XA71 | Long             | EC               | CORP              | US        |    121980 | NS      | $17439480.60  | 3.08%             |  |  |  | No            |                  1 | On Loan: No      |
| BELDEN INC.                                    | BELDEN INC                              | CUSIP: 077454106<br>LEI: 68BKYO1JC791TTJHUE82 | Long             | EC               | CORP              | US        |     63480 | NS      | $7634739.60   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| THE PENNANT GROUP, INC.                        | PENNANT GROUP INC                       | CUSIP: 70805E109<br>LEI: 5493007H2OYR6BYLDA64 | Long             | EC               | CORP              | US        |    121330 | NS      | $3059942.60   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Nomad Foods Limited                            | NOMAD FOODS LTD                         | CUSIP: G6564A105<br>LEI: 5493000ZZ1837DS2SI43 | Long             | EC               | CORP              | VG        |    723350 | NS      | $9512052.50   | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| GATES INDUSTRIAL CORPORATION PLC               | GATES INDUSTRIAL CORP PLC               | CUSIP: G39108108<br>LEI: 549300S6K4FWUSB9KM27 | Long             | EC               | CORP              | GB        |    480580 | NS      | $11927995.60  | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| BATH & BODY WORKS, INC.                        | BATH BODY WORKS INC                     | CUSIP: 070830104<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | EC               | CORP              | US        |    260690 | NS      | $6715374.40   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| TIDEWATER INC.                                 | TIDEWATER INC                           | CUSIP: 88642R109<br>LEI: 2549000JA5GRUPLMUH98 | Long             | EC               | CORP              | US        |    100870 | NS      | $5379397.10   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| VALLEY NATIONAL BANCORP                        | VALLEY NATIONAL BANCORP                 | CUSIP: 919794107<br>LEI: 549300ET52S1UBIB9762 | Long             | EC               | CORP              | US        |    689620 | NS      | $7309972.00   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| RYERSON HOLDING CORPORATION                    | RYERSON HOLDING CORP                    | CUSIP: 783754104<br>LEI: 549300JMA41B3ZHOVE45 | Long             | EC               | CORP              | US        |    261770 | NS      | $5984062.20   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| HAMILTON INSURANCE GROUP, LTD.                 | HAMILTON INSURANCE GROUP LTD            | CUSIP: G42706104<br>LEI: 549300W92BN1FIEXG871 | Long             | EC               | CORP              | BM        |    271600 | NS      | $6735680.00   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| GROUP 1 AUTOMOTIVE, INC.                       | GROUP 1 AUTOMOTIVE INC                  | CUSIP: 398905109<br>LEI: 549300US8QAZJLWYAF63 | Long             | EC               | CORP              | US        |     10660 | NS      | $4663856.60   | 0.82%             |  |  |  | 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        |    523626 | NS      | $523625.94    | 0.09%             |  |  |  | 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        |    523626 | NS      | $523625.94    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ACI WORLDWIDE, INC.                            | ACI WORLDWIDE INC                       | CUSIP: 004498101<br>LEI: 5493003BPVMZUJ6F5C02 | Long             | EC               | CORP              | US        |    175470 | NS      | $9259551.90   | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| OLD NATIONAL BANCORP                           | OLD NATIONAL BANCORP                    | CUSIP: 680033107<br>LEI: 549300MMK90CL5KMVX16 | Long             | EC               | CORP              | US        |    651380 | NS      | $14297791.00  | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Matson Inc                                     | MATSON INC                              | CUSIP: 57686G105<br>LEI: 549300OI5H3Y0I9I4I12 | Long             | EC               | CORP              | US        |     61890 | NS      | $6101735.10   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| THE SIMPLY GOOD FOODS COMPANY                  | THE SIMPLY GOOD FOODS CO                | CUSIP: 82900L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    124440 | NS      | $3088600.80   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| MSILF Government Portfolio                     | MSILF GOVERNMENT-INST                   | CUSIP: 61747C707<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    523626 | NS      | $523625.93    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| GARRETT MOTION INC.                            | GARRETT MOTION INC                      | CUSIP: 366505105<br>LEI: 549300LS5WT7EMBNV724 | Long             | EC               | CORP              | US        |    943790 | NS      | $12854419.80  | 2.27%             |  |  |  | No            |                  1 | On Loan: No      |
| BLACK HILLS CORPORATION                        | BLACK HILLS CORP                        | CUSIP: 092113109<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | EC               | CORP              | US        |    200125 | NS      | $12325698.75  | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| THE TIMKEN COMPANY                             | TIMKEN CO                               | CUSIP: 887389104<br>LEI: B0I35MLPFXZSE70ASS73 | Long             | EC               | CORP              | US        |    129600 | NS      | $9743328.00   | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| FOUR CORNERS PROPERTY TRUST, INC.              | FOUR CORNERS PROPERTY TRUST INC         | CUSIP: 35086T109<br>LEI: 549300SVTPZPBDVNER42 | Long             | EC               | CORP              | US        |    352110 | NS      | $8591484.00   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTHSTATE BANK CORPORATION                    | SOUTHSTATE BANK CORP                    | CUSIP: 84472E102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     98210 | NS      | $9710022.70   | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| F.N.B. CORPORATION                             | FNB CORP                                | CUSIP: 302520101<br>LEI: PCYSKIGYNYFDTBLVZU83 | Long             | EC               | CORP              | US        |    916960 | NS      | $14772225.60  | 2.61%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST AMERICAN FINANCIAL CORPORATION           | FIRST AMERICAN FINANCIAL CORP           | CUSIP: 31847R102<br>LEI: 549300B6VEZK3N0A1P55 | Long             | EC               | CORP              | US        |    126160 | NS      | $8104518.40   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERIS BANCORP                                 | AMERIS BANCORP                          | CUSIP: 03076K108<br>LEI: PBJHNT51T5V6G5UQFV42 | Long             | EC               | CORP              | US        |    227800 | NS      | $16700018.00  | 2.95%             |  |  |  | No            |                  1 | On Loan: No      |
| SCORPIO TANKERS INC.                           | SCORPIO TANKERS INC                     | CUSIP: Y7542C130<br>LEI: 549300NVJUH16NXG8K87 | Long             | EC               | CORP              | MH        |    139180 | NS      | $7801039.00   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| QCR HOLDINGS, INC.                             | QCR HOLDINGS INC                        | CUSIP: 74727A104<br>LEI: 549300MWKWM7KWJVQO33 | Long             | EC               | CORP              | US        |     72120 | NS      | $5455156.80   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| TITAN MACHINERY INC.                           | TITAN MACHINERY INC                     | CUSIP: 88830R101<br>LEI: 549300835ZM8G0BT5C94 | Long             | EC               | CORP              | US        |    219830 | NS      | $3679954.20   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| CRANE NXT, CO.                                 | CRANE NXT CO                            | CUSIP: 224441105<br>LEI: 549300EXNPSXEWUD3N21 | Long             | EC               | CORP              | US        |    159290 | NS      | $10683580.30  | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLDOC INC SERIES B PREFERRED STOCK           | WELLDOC INC SERIES B PREFERRED STOCK    | CUSIP: 928CZC900<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   1587483 | NS      | $587368.71    | 0.10%             |  |  |  | No            |                  3 | On Loan: No      |
| WHITE MOUNTAINS INSURANCE GROUP, LTD.          | WHITE MOUNTAINS INSURANCE GROUP LIMITED | CUSIP: G9618E107<br>LEI: 549300N3FL068JERBG02 | Long             | EC               | CORP              | BM        |      4910 | NS      | $8207163.20   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Atmus Filtration Technologies Inc              | ATMUS FILTRATION TECHNOLOGIES INC       | CUSIP: 04956D107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    300470 | NS      | $13548192.30  | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |
| BEAZER HOMES USA, INC.                         | BEAZER HOMES USA INC                    | CUSIP: 07556Q881<br>LEI: 549300DUPYT2T0F60I45 | Long             | EC               | CORP              | US        |    214320 | NS      | $5261556.00   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| SEALED AIR CORPORATION                         | SEALED AIR CORP                         | CUSIP: 81211K100<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | EC               | CORP              | US        |    388360 | NS      | $13728526.00  | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of N.T. Butterfield & Son Limited     | BANK OF NT BUTTERFIELD SON LTD THE      | CUSIP: G0772R208<br>LEI: 549300V8RVM0EMTDPF28 | Long             | EC               | CORP              | BM        |    292080 | NS      | $12536073.60  | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED BANKSHARES, INC.                        | UNITED BANKSHARES INC                   | CUSIP: 909907107<br>LEI: 5299005O3BAMJ9Z92V62 | Long             | EC               | CORP              | US        |    182760 | NS      | $6800499.60   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| THE ENSIGN GROUP, INC.                         | ENSIGN GROUP INC THE                    | CUSIP: 29358P101<br>LEI: 5493003K4HEEA8Q0BC72 | Long             | EC               | CORP              | US        |     52740 | NS      | $9111889.80   | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| HELIOS TECHNOLOGIES, INC.                      | HELIOS TECHNOLOGIES INC                 | CUSIP: 42328H109<br>LEI: 5493000BCJSMIDRNTI78 | Long             | EC               | CORP              | US        |    200780 | NS      | $10466661.40  | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Mediaalpha Inc                                 | MEDIAALPHA INC                          | CUSIP: 58450V104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    482370 | NS      | $5489370.60   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| HOWARD HUGHES HOLDINGS INC.                    | HOWARD HUGHES HOLDINGS INC              | CUSIP: 44267T102<br>LEI: 254900TY494BHXIU6M60 | Long             | EC               | CORP              | US        |     85940 | NS      | $7061689.80   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| TAYLOR MORRISON HOME CORPORATION               | TAYLOR MORRISON HOME CORP               | CUSIP: 87724P106<br>LEI: 5299009UDLLGLKOOJE30 | Long             | EC               | CORP              | US        |     93120 | NS      | $6146851.20   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ENCOMPASS HEALTH CORPORATION                   | ENCOMPASS HEALTH CORP                   | CUSIP: 29261A100<br>LEI: 549300FVRPM9DRQZRG64 | Long             | EC               | CORP              | US        |     67670 | NS      | $8595443.40   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| PLAINS GP HOLDINGS, L.P                        | PLAINS GP HOLDINGS LP                   | CUSIP: 72651A207<br>LEI: 549300O56BSKRD8FAM12 | Long             |  | CORP              | US        |    430600 | NS      | $7854144.00   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| YETI HOLDINGS, INC.                            | YETI HOLDINGS INC                       | CUSIP: 98585X104<br>LEI: 549300DSQICIGNT5GO63 | Long             | EC               | CORP              | US        |    144330 | NS      | $4788869.40   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| GRANITE CONSTRUCTION INCORPORATED              | GRANITE CONSTRUCTION INC                | CUSIP: 387328107<br>LEI: 549300OM4BWMCIXVCZ39 | Long             | EC               | CORP              | US        |     73760 | NS      | $8087784.00   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| THE CHEESECAKE FACTORY INCORPORATED            | CHEESECAKE FACTORY INCORPORATED         | CUSIP: 163072101<br>LEI: 529900872XMLK10SY247 | Long             | EC               | CORP              | US        |     61920 | NS      | $3383308.80   | 0.60%             |  |  |  | No            |                  1 | On Loan: —       |
| THE ST. JOE COMPANY                            | ST JOE CO                               | CUSIP: 790148100<br>LEI: 529900XVHOT3BF8PWG49 | Long             | EC               | CORP              | US        |    238730 | NS      | $11812360.40  | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ICF INTERNATIONAL, INC.                        | ICF INTERNATIONAL INC                   | CUSIP: 44925C103<br>LEI: 5493003KYFDDC5B3WY64 | Long             | EC               | CORP              | US        |    111420 | NS      | $10339776.00  | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| PRIMERICA, INC.                                | PRIMERICA INC                           | CUSIP: 74164M108<br>LEI: 254900621R686KJR7022 | Long             | EC               | CORP              | US        |     22383 | NS      | $6213296.97   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| AMPHASTAR PHARMACEUTICALS INC                  | AMPHASTAR PHARMACEUTICALS INC           | CUSIP: 03209R103<br>LEI: 54930055TH0ZLSAQMJ38 | Long             | EC               | CORP              | US        |    114430 | NS      | $3049559.50   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| FLUOR CORPORATION.                             | FLUOR CORP                              | CUSIP: 343412102<br>LEI: CQ7WZ4NOFWT7FAE6Q943 | Long             | EC               | CORP              | US        |     71650 | NS      | $3014315.50   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Renasant Corporation                           | RENASANT CORP                           | CUSIP: 75970E107<br>LEI: 549300OVE6OZHW2UUH81 | Long             | EC               | CORP              | US        |    336930 | NS      | $12429347.70  | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| NORTHERN OIL AND GAS, INC.                     | NORTHERN OIL AND GAS INC                | CUSIP: 665531307<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | EC               | CORP              | US        |    288530 | NS      | $7155544.00   | 1.27%             |  |  |  | No            |                  1 | On Loan: —       |

### Signature

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

**Name of Applicant:** Victory Portfolios

**Signature:** Carol Trevino

**Name of Signer:** Carol Trevino

**Title:** Treasurer