# EDGAR Filing Document

**Accession Number:** 0000802716
**File Stem:** 0001004726-25-002165
**Filing Date:** 2025-11
**Character Count:** 33524
**Document Hash:** 584ae01fb43ae58e071b5fb5f18846dd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001004726-25-002165.hdr.sgml**: 20251125

**ACCESSION NUMBER**: 0001004726-25-002165

**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**: 20260630

**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:** 251520071

**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 Mid-Cap Core Growth Fund, formerly Victory Munder Mid-Cap Core Growth Fund (Series ID: S000046392)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000144972 | Class A      | MGOAX           |
| C000144973 | Class C      | MGOTX           |
| C000144975 | Class R6     | MGOSX           |
| C000144976 | Class Y      | MGOYX           |

## 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 Munder Mid-Cap Core Growth Fund

- **b. EDGAR series identifier (if any):** S000046392

- **c. LEI of Series:** 549300T8YEUSUURLI085

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

- **a. Date of fiscal year-end:** 2026-06-30

- **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:** $289427004.54

**Total Liabilities:** $313560.09

**Net Assets:** $289113444.45

**Cash Not Reported:** $1904645.81

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000144972 | 1.02%                | 1.79%                | 1.87%                |
| Class ID C000144975 | 1.18%                | 1.78%                | 1.88%                |
| Class ID C000144976 | 1.13%                | 1.79%                | 1.84%                |
| Class ID C000144973 | 1.05%                | 1.73%                | 1.70%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $2599604.56              | $702071.88                                 |
| Month 2  | $4735428.62              | $366005.01                                 |
| Month 3  | $2487365.34              | $2746438.46                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| SABRA HEALTH CARE REIT, INC.            | SABRA HEALTH CARE REIT INC         | CUSIP: 78573L106<br>LEI: 549300E3BC7GU7TAZ621 | Long             | EC               | CORP              | US        |     88100 | NS      | $1642184.00   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| CYBERARK SOFTWARE LTD.                  | CYBERARK SOFTWARE LTD              | CUSIP: M2682V108<br>LEI: 529900YEXNDM894PWS93 | Long             | EC               | CORP              | IL        |      7400 | NS      | $3575310.00   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| RAYMOND JAMES FINANCIAL, INC.           | RAYMOND JAMES FINANCIAL INC        | CUSIP: 754730109<br>LEI: RGUZHJ05YTITL6D76949 | Long             | EC               | CORP              | US        |     28700 | NS      | $4953620.00   | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| ARCHROCK INC.                           | ARCHROCK INC                       | CUSIP: 03957W106<br>LEI: 549300K3RIHMHDVFTL28 | Long             | EC               | CORP              | US        |     60500 | NS      | $1591755.00   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| HOWMET AEROSPACE INC.                   | HOWMET AEROSPACE INC               | CUSIP: 443201108<br>LEI: 549300HO5WFZUT5N2T22 | Long             | EC               | CORP              | US        |     25200 | NS      | $4944996.00   | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| VICI PROPERTIES INC.                    | VICI PROPERTIES INC                | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |    104400 | NS      | $3404484.00   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| GRIFFON CORPORATION                     | GRIFFON CORP                       | CUSIP: 398433102<br>LEI: 5493000C2SGNC7ZN3242 | Long             | EC               | CORP              | US        |     37900 | NS      | $2886085.00   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| GXO LOGISTICS, INC.                     | GXO LOGISTICS INC                  | CUSIP: 36262G101<br>LEI: 5493007CNWMXN78JRN66 | Long             | EC               | CORP              | US        |     54000 | NS      | $2856060.00   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| ROBLOX CORPORATION                      | ROBLOX CORP                        | CUSIP: 771049103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12200 | NS      | $1689944.00   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| BIOMARIN PHARMACEUTICAL INC.            | BIOMARIN PHARMACEUTICAL INC        | CUSIP: 09061G101<br>LEI: NSLL8ITTRR0J5HEMR848 | Long             | EC               | CORP              | US        |     29600 | NS      | $1603136.00   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Post Holdings, Inc.                     | POST HOLDINGS INC                  | CUSIP: 737446104<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | EC               | CORP              | US        |     15300 | NS      | $1644444.00   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| JABIL INC.                              | JABIL INC                          | CUSIP: 466313103<br>LEI: 5493000CGCQY2OQU7669 | Long             | EC               | CORP              | US        |     19700 | NS      | $4278249.00   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| DIAMONDBACK ENERGY, INC.                | DIAMONDBACK ENERGY INC             | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |     16200 | NS      | $2318220.00   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| HALOZYME THERAPEUTICS, INC.             | HALOZYME THERAPEUTICS INC          | CUSIP: 40637H109<br>LEI: 529900242I3SV9AGM753 | Long             | EC               | CORP              | US        |     68500 | NS      | $5023790.00   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| PPL CORPORATION                         | PPL CORP                           | CUSIP: 69351T106<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | EC               | CORP              | US        |     88200 | NS      | $3277512.00   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| COINBASE GLOBAL, INC.                   | COINBASE GLOBAL INC                | CUSIP: 19260Q107<br>LEI: 5493004G3J2SC154DU06 | Long             | EC               | CORP              | US        |      2200 | NS      | $742478.00    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| SUN COMMUNITIES, INC.                   | SUN COMMUNITIES INC                | CUSIP: 866674104<br>LEI: 549300H5GEOJYN41ZG57 | Long             | EC               | CORP              | US        |     25416 | NS      | $3278664.00   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERIPRISE FINANCIAL, INC.              | AMERIPRISE FINANCIAL INC           | CUSIP: 03076C106<br>LEI: 6ZLKQF7QB6JAEKQS5388 | Long             | EC               | CORP              | US        |      7500 | NS      | $3684375.00   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| BRIGHTSPRING HEALTH SERVICES, INC.      | BRIGHTSPRING HEALTH SERVICES INC   | CUSIP: 10950A106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    123300 | NS      | $3644748.00   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| GEN DIGITAL INC.                        | GEN DIGITAL INC                    | CUSIP: 668771108<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | EC               | CORP              | US        |    122100 | NS      | $3466419.00   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| ARCH CAPITAL GROUP LTD.                 | ARCH CAPITAL GROUP LIMITED         | CUSIP: G0450A105<br>LEI: 549300AYR4P8AFKDCE43 | Long             | EC               | CORP              | BM        |     27200 | NS      | $2467856.00   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| LIVE NATION ENTERTAINMENT, INC.         | LIVE NATION ENTERTAINMENT INC      | CUSIP: 538034109<br>LEI: 5493007B9BM9ZXJINO78 | Long             | EC               | CORP              | US        |     22644 | NS      | $3700029.60   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| VERISK ANALYTICS, INC.                  | VERISK ANALYTICS INC               | CUSIP: 92345Y106<br>LEI: 549300I1YSWNIRKBWP67 | Long             | EC               | CORP              | US        |     15400 | NS      | $3873254.00   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| COMFORT SYSTEMS USA, INC.               | COMFORT SYSTEMS USA INC            | CUSIP: 199908104<br>LEI: 5299009DT1ZA5HTU6R38 | Long             | EC               | CORP              | US        |      5600 | NS      | $4621008.00   | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| CHENIERE ENERGY, INC.                   | CHENIERE ENERGY INC                | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |     16600 | NS      | $3900668.00   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| DIGITAL REALTY TRUST, INC.              | DIGITAL REALTY TRUST INC           | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |     18100 | NS      | $3129128.00   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| CBRE GROUP, INC.                        | CBRE GROUP INC CL A                | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |     24900 | NS      | $3923244.00   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| VALERO ENERGY CORPORATION               | VALERO ENERGY CORP                 | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |     26100 | NS      | $4443786.00   | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| NORWEGIAN CRUISE LINE HOLDINGS LTD.     | NORWEGIAN CRUISE LINE HOLDINGS LTD | CUSIP: G66721104<br>LEI: N/A                  | Long             | EC               | CORP              | BM        |    161400 | NS      | $3975282.00   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| AMPHENOL CORPORATION                    | AMPHENOL CORP CLASS A              | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |     25940 | NS      | $3210075.00   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| MONOLITHIC POWER SYSTEMS, INC.          | MONOLITHIC POWER SYSTEMS INC       | CUSIP: 609839105<br>LEI: 529900TB7O85LSZ1XU31 | Long             | EC               | CORP              | US        |      4400 | NS      | $4050816.00   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| QUANTA SERVICES, INC.                   | QUANTA SERVICES INC                | CUSIP: 74762E102<br>LEI: SHVRXXEACT60MMH07S24 | Long             | EC               | CORP              | US        |     13800 | NS      | $5718996.00   | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| MSCI INC.                               | MSCI INC COMMON                    | CUSIP: 55354G100<br>LEI: 549300HTIN2PD78UB763 | Long             | EC               | CORP              | US        |      4700 | NS      | $2666827.00   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| EBAY INC.                               | EBAY INC                           | CUSIP: 278642103<br>LEI: OML71K8X303XQONU6T67 | Long             | EC               | CORP              | US        |     32200 | NS      | $2928590.00   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| RESMED INC.                             | RESMED INC                         | CUSIP: 761152107<br>LEI: 529900T3QE5253CCXF22 | Long             | EC               | CORP              | US        |     17200 | NS      | $4708156.00   | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| FEDERAL SIGNAL CORPORATION              | FEDERAL SIGNAL CORP                | CUSIP: 313855108<br>LEI: 549300RTXZRPTNP6G884 | Long             | EC               | CORP              | US        |     35100 | NS      | $4176549.00   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| ROYAL GOLD, INC.                        | ROYAL GOLD INC                     | CUSIP: 780287108<br>LEI: 5493001NGRU6SFL04184 | Long             | EC               | CORP              | US        |      8600 | NS      | $1724988.00   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| VISTRA CORP.                            | VISTRA CORP                        | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |      8200 | NS      | $1606544.00   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| THE ENSIGN GROUP, INC.                  | ENSIGN GROUP INC THE               | CUSIP: 29358P101<br>LEI: 5493003K4HEEA8Q0BC72 | Long             | EC               | CORP              | US        |     11800 | NS      | $2038686.00   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| W. R. BERKLEY CORPORATION               | WR BERKLEY CORP                    | CUSIP: 084423102<br>LEI: SQOAGCLKBDWNVYV1OV80 | Long             | EC               | CORP              | US        |     47100 | NS      | $3608802.00   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| SHARKNINJA, INC.                        | SHARKNINJA INC                     | CUSIP: G8068L108<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     14300 | NS      | $1475045.00   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| EXLSERVICE HOLDINGS, INC.               | EXLSERVICE HOLDINGS INC            | CUSIP: 302081104<br>LEI: 81E3DTNF6OSH489ZOV15 | Long             | EC               | CORP              | US        |     65200 | NS      | $2870756.00   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| TYLER TECHNOLOGIES, INC.                | TYLER TECHNOLOGIES INC             | CUSIP: 902252105<br>LEI: 25490040SMU4Z8LBCW70 | Long             | EC               | CORP              | US        |      7400 | NS      | $3871384.00   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| BGC GROUP, INC.                         | BGC GROUP INC                      | CUSIP: 088929104<br>LEI: 2549001IGRCG4F0RLD36 | Long             | EC               | CORP              | US        |    327100 | NS      | $3094366.00   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| RALPH LAUREN CORPORATION                | RALPH LAUREN CORP                  | CUSIP: 751212101<br>LEI: HO1QNWM0IXBZ0QSMMO20 | Long             | EC               | CORP              | US        |     13300 | NS      | $4170348.00   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| AUTODESK, INC.                          | AUTODESK INC                       | CUSIP: 052769106<br>LEI: FRKKVKAIQEF3FCSTPG55 | Long             | EC               | CORP              | US        |      9000 | NS      | $2859030.00   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| EXPEDIA GROUP, INC.                     | EXPEDIA GROUP INC                  | CUSIP: 30212P303<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23400 | NS      | $5001750.00   | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| THE HARTFORD INSURANCE GROUP, INC.      | HARTFORD INSURANCE GROUP INC       | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               | CORP              | US        |     19400 | NS      | $2587766.00   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| ZSCALER, INC.                           | ZSCALER INC                        | CUSIP: 98980G102<br>LEI: 529900MZ0RTK1BWRNF46 | Long             | EC               | CORP              | US        |      5500 | NS      | $1648130.00   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| MCKESSON CORPORATION                    | MCKESSON CORP                      | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |      4300 | NS      | $3321922.00   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| AVERY DENNISON CORPORATION              | AVERY DENNISON CORP                | CUSIP: 053611109<br>LEI: 549300PW7VPFCYKLIV37 | Long             | EC               | CORP              | US        |     15500 | NS      | $2513635.00   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| ASSURANT, INC.                          | ASSURANT INC                       | CUSIP: 04621X108<br>LEI: H3F39CAXWQRVWURFXL38 | Long             | EC               | CORP              | US        |      8000 | NS      | $1732800.00   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| INTAPP, INC.                            | INTAPP INC                         | CUSIP: 45827U109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     30500 | NS      | $1247450.00   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| LIFE TIME GROUP HOLDINGS, INC           | LIFE TIME GROUP HOLDINGS INC       | CUSIP: 53190C102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     90800 | NS      | $2506080.00   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| PERFORMANCE FOOD GROUP COMPANY          | PERFORMANCE FOOD GROUP CO          | CUSIP: 71377A103<br>LEI: 549300EUK8GR9IT1YK57 | Long             | EC               | CORP              | US        |     32400 | NS      | $3370896.00   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| SBA COMMUNICATIONS CORPORATION          | SBA COMMUNICATIONS CORP            | CUSIP: 78410G104<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | EC               | CORP              | US        |     14503 | NS      | $2804155.05   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| EVERCORE INC.                           | EVERCORE INC                       | CUSIP: 29977A105<br>LEI: 529900P6KLPT95DW3W58 | Long             | EC               | CORP              | US        |     11000 | NS      | $3710520.00   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| ROBINHOOD MARKETS, INC.                 | ROBINHOOD MARKETS INC              | CUSIP: 770700102<br>LEI: 213800FS5AO3YWIE6F63 | Long             | EC               | CORP              | US        |     17700 | NS      | $2534286.00   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| INGREDION INCORPORATED                  | INGREDION INC                      | CUSIP: 457187102<br>LEI: PKSTQ48QDN0XSVS7YK88 | Long             | EC               | CORP              | US        |     26700 | NS      | $3260337.00   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| ELECTRONIC ARTS INC.                    | ELECTRONIC ARTS INC                | CUSIP: 285512109<br>LEI: 549300O7A67PUEYKDL45 | Long             | EC               | CORP              | US        |      6500 | NS      | $1311050.00   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| TECHNIPFMC PLC                          | TECHNIPFMC PLC                     | CUSIP: G87110105<br>LEI: 549300D5I93QWCJTCK36 | Long             | EC               | CORP              | GB        |     45500 | NS      | $1794975.00   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| UNIVERSAL HEALTH SERVICES, INC.         | UNIVERSAL HEALTH SERVICES          | CUSIP: 913903100<br>LEI: 549300YGMGQDO0NMJD09 | Long             | EC               | CORP              | US        |     18400 | NS      | $3761696.00   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| ATMOS ENERGY CORPORATION                | ATMOS ENERGY CORPORATION           | CUSIP: 049560105<br>LEI: QVLWEGTD2S8GJMO8D383 | Long             | EC               | CORP              | US        |     20800 | NS      | $3551600.00   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| TENCENT MUSIC ENTERTAINMENT GROUP       | TENCENT MUSIC ENTERTAINMENT        | CUSIP: 88034P109<br>LEI: 213800XTZK2GOHQTYK41 | Long             |  | CORP              | KY        |     87400 | NS      | $2039916.00   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| ABERCROMBIE & FITCH CO.                 | ABERCROMBIE FITCH CO               | CUSIP: 002896207<br>LEI: 5493000J7LL72TOGT983 | Long             | EC               | CORP              | US        |     21500 | NS      | $1839325.00   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| BAKER HUGHES COMPANY                    | BAKER HUGHES CO                    | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     83900 | NS      | $4087608.00   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES LTD.            | ROYAL CARIBBEAN CRUISES LTD        | CUSIP: V7780T103<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | EC               | CORP              | LR        |     14300 | NS      | $4627194.00   | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| VERTIV HOLDINGS CO                      | VERTIV HOLDINGS CO                 | CUSIP: 92537N108<br>LEI: 549300KTTIRAOGXCRV69 | Long             | EC               | CORP              | US        |     31900 | NS      | $4812434.00   | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERACTIVE BROKERS GROUP, INC.         | INTERACTIVE BROKERS GROUP INC      | CUSIP: 45841N107<br>LEI: 5493004DT6DCDUZNDM53 | Long             | EC               | CORP              | US        |     45800 | NS      | $3151498.00   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| AFFILIATED MANAGERS GROUP, INC.         | AFFILIATED MANAGERS GROUP INC      | CUSIP: 008252108<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EC               | CORP              | US        |     18200 | NS      | $4339426.00   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| URBAN OUTFITTERS, INC.                  | URBAN OUTFITTERS INC               | CUSIP: 917047102<br>LEI: 549300N3DUFR5U6NRN38 | Long             | EC               | CORP              | US        |     29800 | NS      | $2128614.00   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| CHURCH & DWIGHT CO., INC.               | CHURCH DWIGHT CO INC               | CUSIP: 171340102<br>LEI: POOXSI30AWAQGYJZC921 | Long             | EC               | CORP              | US        |     32700 | NS      | $2865501.00   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| BROWN & BROWN, INC.                     | BROWN BROWN INC                    | CUSIP: 115236101<br>LEI: 549300PC8KTJ71XKFY89 | Long             | EC               | CORP              | US        |     28600 | NS      | $2682394.00   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| TOPBUILD CORP.                          | TOPBUILD CORP                      | CUSIP: 89055F103<br>LEI: 5493007YSKHOL4RWII46 | Long             | EC               | CORP              | US        |      7100 | NS      | $2775106.00   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| TRANE TECHNOLOGIES PLC                  | TRANE TECHNOLOGIES PLC             | CUSIP: G8994E103<br>LEI: 549300BURLR9SLYY2705 | Long             | EC               | CORP              | IE        |      8700 | NS      | $3671052.00   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| NISOURCE INC.                           | NISOURCE INC                       | CUSIP: 65473P105<br>LEI: 549300D8GOWWH0SJB189 | Long             | EC               | CORP              | US        |     68800 | NS      | $2979040.00   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon Corporation | BANK OF NEW YORK MELLON CORP       | CUSIP: 064058100<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | EC               | CORP              | US        |     54800 | NS      | $5971008.00   | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA HEALTHCARE, INC.                    | HCA HEALTHCARE INC                 | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |     12400 | NS      | $5284880.00   | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| ADDUS HOMECARE CORPORATION              | ADDUS HOMECARE CORP                | CUSIP: 006739106<br>LEI: 52990090ZT33AKPDBX62 | Long             | EC               | CORP              | US        |     11300 | NS      | $1333287.00   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR S&P MidCap 400 ETF Trust           | SPDR S P MIDCAP 400 ETF TRUST      | CUSIP: 78467Y107<br>LEI: 5493003TT35P3SIWJJ72 | Long             |  | RF                | US        |      7100 | NS      | $4231813.00   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| EMCOR GROUP, INC.                       | EMCOR GROUP INC                    | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               | CORP              | US        |      5700 | NS      | $3702378.00   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| CASEY'S GENERAL STORES, INC.            | CASEY S GENERAL STORES INC         | CUSIP: 147528103<br>LEI: 549300CAFWSI86V66Q65 | Long             | EC               | CORP              | US        |      5600 | NS      | $3165792.00   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBE LIFE INC.                         | GLOBE LIFE INC                     | CUSIP: 37959E102<br>LEI: 5493001JFHKQOPP6XA71 | Long             | EC               | CORP              | US        |     19700 | NS      | $2816509.00   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| ROSS STORES, INC.                       | ROSS STORES INC                    | CUSIP: 778296103<br>LEI: 549300ENZFLPGRDFZQ60 | Long             | EC               | CORP              | US        |     20100 | NS      | $3063039.00   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| COREBRIDGE FINANCIAL, INC.              | COREBRIDGE FINANCIAL INC           | CUSIP: 21871X109<br>LEI: 549300XY1661QCIA7J65 | Long             | EC               | CORP              | US        |    112200 | NS      | $3596010.00   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| ALKAMI TECHNOLOGY, INC.                 | ALKAMI TECHNOLOGY INC              | CUSIP: 01644J108<br>LEI: 254900FCNYU4HNEV9L47 | Long             | EC               | CORP              | US        |     55400 | NS      | $1376136.00   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| FABRINET                                | FABRINET                           | CUSIP: G3323L100<br>LEI: 5493004TETZ6IYF7CV44 | Long             | EC               | CORP              | KY        |      5200 | NS      | $1896024.00   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRSTCASH HOLDINGS, INC.                | FIRSTCASH HOLDINGS INC             | CUSIP: 33768G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20700 | NS      | $3279294.00   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| CLEAR SECURE, INC.                      | CLEAR SECURE INC                   | CUSIP: 18467V109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     84100 | NS      | $2807258.00   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| VENTAS, INC.                            | VENTAS INC                         | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               | CORP              | US        |     35100 | NS      | $2456649.00   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| CENCORA, INC.                           | CENCORA INC                        | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |     13900 | NS      | $4344167.00   | 1.50%             |  |  |  | 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