# EDGAR Filing Document

**Accession Number:** 0000802716
**File Stem:** 0001004726-26-001369
**Filing Date:** 2026-2
**Character Count:** 40233
**Document Hash:** 58fbfcf209e8ab84679327a0a94c9b09
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001004726-26-001369.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0001004726-26-001369

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260227

**DATE AS OF CHANGE**: 20260227

**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:** 26695739

**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 Global Fund (Series ID: S000053563)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000168340 | Class A      | RSGGX           |
| C000168341 | Class C      | RGGCX           |
| C000168342 | Class R      | RGGKX           |
| C000168343 | Class Y      | RGGYX           |
| C000213170 | Class R6     | RGGRX           |

## 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 Global Fund

- **b. EDGAR series identifier (if any):** S000053563

- **c. LEI of Series:** 549300I1FYJXRJXD4J54

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-12-31

**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:** $1745153380.87

**Total Liabilities:** $5672120.55

**Net Assets:** $1739481260.32

**Cash Not Reported:** $35849518.16

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000168343 | 2.08%                | 0.72%                | 0.93%                |
| Class ID C000213170 | 2.09%                | 0.73%                | 0.97%                |
| Class ID C000168340 | 2.07%                | 0.68%                | 0.91%                |
| Class ID C000168341 | 1.98%                | 0.64%                | 0.83%                |
| Class ID C000168342 | 2.04%                | 0.68%                | 0.89%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $4356386.39              | $30676417.20                               |
| Month 2  | $1131629.01              | $10101782.73                               |
| Month 3  | $1285293.54              | $13154422.32                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Pandora A/S                                     | PANDORA A S                             | CUSIP: N/A<br>LEI: 5299007OWYZ6I1E46843       | Long             | EC               | CORP              | DK        |     71061 | NS      | $7859152.43   | 0.45%             |  |  |  | No            | 2                  | On Loan: No      |
| EURO                                            | EURO                                    | CUSIP: N/A<br>LEI: N/A                        | N/A              |  |  | XX        |         1 | NS      | $1.12         | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| Mr Price Group Ltd                              | MR PRICE GROUP LTD                      | CUSIP: N/A<br>LEI: 378900D3417C35C5D733       | Long             | EC               | CORP              | ZA        |    634490 | NS      | $6715699.56   | 0.39%             |  |  |  | No            | 2                  | On Loan: No      |
| AUSTRALIAN DOLLAR                               | AUSTRALIAN DOLLAR                       | CUSIP: N/A<br>LEI: N/A                        | N/A              |  |  | AU        |     18506 | NS      | $12347.21     | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| NETFLIX, INC.                                   | NETFLIX INC                             | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |    186802 | NS      | $17514555.52  | 1.01%             |  |  |  | No            | 1                  | On Loan: No      |
| MSILF Government Portfolio                      | MSILF GOVERNMENT-INST                   | CUSIP: 61747C707<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   1049792 | NS      | $1049792.50   | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| Cathay Financial Holding Co., Ltd.              | CATHAY FINANCIAL HOLDING CO LTD         | CUSIP: N/A<br>LEI: 5299009XR1QLFAMQ3X77       | Long             | EC               | CORP              | TW        |   8105000 | NS      | $19552932.88  | 1.12%             |  |  |  | No            | 2                  | On Loan: No      |
| Nestle S.A.                                     | NESTLE SA                               | CUSIP: N/A<br>LEI: KY37LUS27QQX7BB93L28       | Long             | EC               | CORP              | CH        |    185224 | NS      | $18389814.76  | 1.06%             |  |  |  | No            | 2                  | On Loan: No      |
| HSBC HOLDINGS PLC                               | HSBC HOLDINGS PLC                       | CUSIP: N/A<br>LEI: MLU0ZO3ML4LN2LL2TL39       | Long             | EC               | CORP              | GB        |   1136755 | NS      | $17884693.89  | 1.03%             |  |  |  | No            | 2                  | On Loan: No      |
| Mizuho Financial Group, Inc.                    | MIZUHO FINANCIAL GROUP INC              | CUSIP: N/A<br>LEI: 353800CI5L6DDAN5XZ33       | Long             | EC               | CORP              | JP        |    458600 | NS      | $16738540.43  | 0.96%             |  |  |  | No            | 2                  | On Loan: No      |
| INDIAN RUPEE                                    | INDIA RUPEE                             | CUSIP: N/A<br>LEI: N/A                        | N/A              |  |  | IN        |     12130 | NS      | $134.97       | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| HOWDEN JOINERY GROUP PLC                        | HOWDEN JOINERY GROUP PLC                | CUSIP: N/A<br>LEI: 213800KC1LJOJTY3JP45       | Long             | EC               | CORP              | GB        |    765810 | NS      | $8569053.41   | 0.49%             |  |  |  | No            | 2                  | On Loan: No      |
| Tencent Holdings Limited                        | TENCENT HOLDINGS LTD                    | CUSIP: N/A<br>LEI: 254900N4SLUMW4XUYY11       | Long             | EC               | CORP              | KY        |    330200 | NS      | $25341365.43  | 1.46%             |  |  |  | No            | 2                  | On Loan: No      |
| iShares MSCI ACWI ETF                           | ISHARES MSCI ACWI ETF                   | CUSIP: 464288257<br>LEI: N/A                  | Long             |  | RF                | US        |     36187 | NS      | $5120098.63   | 0.29%             |  |  |  | No            | 1                  | On Loan: —       |
| AMGEN INC.                                      | AMGEN INC                               | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |     40698 | NS      | $13320862.38  | 0.77%             |  |  |  | No            | 1                  | On Loan: No      |
| IDEXX LABORATORIES, INC.                        | IDEXX LABORATORIES INC                  | CUSIP: 45168D104<br>LEI: OGMTXK0LUU1HKV2P0J84 | Long             | EC               | CORP              | US        |     23305 | NS      | $15766531.65  | 0.91%             |  |  |  | No            | 1                  | On Loan: No      |
| CSL LIMITED                                     | CSL LTD                                 | CUSIP: N/A<br>LEI: 529900ECSECK5ZDQTE14       | Long             | EC               | CORP              | AU        |     59727 | NS      | $6871928.87   | 0.40%             |  |  |  | No            | 2                  | On Loan: No      |
| META PLATFORMS, INC.                            | META PLATFORMS INC                      | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     54789 | NS      | $36165671.01  | 2.08%             |  |  |  | No            | 1                  | On Loan: No      |
| LENNOX INTERNATIONAL INC.                       | LENNOX INTERNATIONAL INC                | CUSIP: 526107107<br>LEI: S7DWAC87RDMPBF77GJ92 | Long             | EC               | CORP              | US        |     15736 | NS      | $7641086.88   | 0.44%             |  |  |  | No            | 1                  | On Loan: No      |
| ADOBE INC.                                      | ADOBE INC                               | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |     48749 | NS      | $17061662.51  | 0.98%             |  |  |  | No            | 1                  | On Loan: No      |
| Constellation Software Inc.                     | CONSTELLATION SOFTWARE INC CANADA       | CUSIP: 21037X100<br>LEI: 549300B6PYHMCTDWQV29 | Long             | EC               | CORP              | CA        |      3467 | NS      | $8340100.41   | 0.48%             |  |  |  | No            | 1                  | On Loan: No      |
| REXEL SA                                        | REXEL SA                                | CUSIP: N/A<br>LEI: 969500N6AVPA51648T62       | Long             | EC               | CORP              | FR        |    232384 | NS      | $9113835.12   | 0.52%             |  |  |  | No            | 2                  | On Loan: No      |
| BAWAG Group AG                                  | BAWAG GROUP AG                          | CUSIP: N/A<br>LEI: 529900S9YO2JHTIIDG38       | Long             | EC               | CORP              | AT        |    123935 | NS      | $18664773.53  | 1.07%             |  |  |  | Yes           | 2                  | On Loan: No      |
| HOYA CORPORATION                                | HOYA CORP                               | CUSIP: N/A<br>LEI: 353800X4VR3BHEUCJB42       | Long             | EC               | CORP              | JP        |     73300 | NS      | $11118800.09  | 0.64%             |  |  |  | No            | 2                  | On Loan: No      |
| ASML Holding N.V.                               | ASML HOLDING N V                        | CUSIP: N/A<br>LEI: 724500Y6DUVHQD6OXN27       | Long             | EC               | CORP              | NL        |     15803 | NS      | $17026630.37  | 0.98%             |  |  |  | No            | 2                  | On Loan: No      |
| NVIDIA CORPORATION                              | NVIDIA CORP                             | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |    489259 | NS      | $91246803.50  | 5.25%             |  |  |  | No            | 1                  | On Loan: No      |
| Kakaku.com Inc                                  | KAKAKU COM INC                          | CUSIP: N/A<br>LEI: 353800KA15Y0DCPWYY65       | Long             | EC               | CORP              | JP        |    555900 | NS      | $8195990.92   | 0.47%             |  |  |  | No            | 2                  | On Loan: No      |
| SIMON PROPERTY GROUP, INC.                      | SIMON PROPERTY GROUP INC                | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |    103125 | NS      | $19089468.75  | 1.10%             |  |  |  | No            | 1                  | On Loan: No      |
| SOUTH AFRICAN RAND                              | SOUTH AFRICAN RAND                      | CUSIP: N/A<br>LEI: N/A                        | N/A              |  |  | ZA        |       310 | NS      | $18.76        | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| Chubb Limited                                   | CHUBB LIMITED                           | CUSIP: H1467J104<br>LEI: E0JAN6VLUDI1HITHT809 | Long             | EC               | CORP              | CH        |     33129 | NS      | $10340223.48  | 0.59%             |  |  |  | No            | 1                  | On Loan: No      |
| BOOKING HOLDINGS INC.                           | BOOKING HOLDINGS INC                    | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |      3464 | NS      | $18550863.12  | 1.07%             |  |  |  | No            | 1                  | On Loan: No      |
| EIFFAGE SA                                      | EIFFAGE SA                              | CUSIP: N/A<br>LEI: 969500OQXKE5WDM9M994       | Long             | EC               | CORP              | FR        |     77631 | NS      | $11121988.40  | 0.64%             |  |  |  | No            | 2                  | On Loan: No      |
| RIO TINTO PLC                                   | RIO TINTO PLC                           | CUSIP: N/A<br>LEI: 213800YOEO5OQ72G2R82       | Long             | EC               | CORP              | GB        |    168481 | NS      | $13568883.46  | 0.78%             |  |  |  | No            | 2                  | On Loan: No      |
| DISCO CORPORATION                               | DISCO CORP                              | CUSIP: N/A<br>LEI: 529900X0YGDYM51H4Q86       | Long             | EC               | CORP              | JP        |     23300 | NS      | $7099531.70   | 0.41%             |  |  |  | No            | 2                  | On Loan: No      |
| Logitech international S.A.                     | LOGITECH INTERNATIONAL SA               | CUSIP: N/A<br>LEI: 549300SN6PRK6IJJC215       | Long             | EC               | CORP              | CH        |    108018 | NS      | $10968537.47  | 0.63%             |  |  |  | No            | 2                  | On Loan: No      |
| FISHER & PAYKEL HEALTHCARE CORPORATION LIMITED  | FISHER PAYKEL HEALTHCARE CORP LTD       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | NZ        |    357944 | NS      | $7773646.22   | 0.45%             |  |  |  | No            | 2                  | On Loan: No      |
| CONOCOPHILLIPS                                  | CONOCOPHILLIPS                          | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     72330 | NS      | $6770811.30   | 0.39%             |  |  |  | No            | 1                  | On Loan: No      |
| DELTA AIR LINES, INC.                           | DELTA AIR LINES INC                     | CUSIP: 247361702<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | EC               | CORP              | US        |    219247 | NS      | $15215741.80  | 0.87%             |  |  |  | No            | 1                  | On Loan: No      |
| PULTEGROUP, INC.                                | PULTEGROUP INC                          | CUSIP: 745867101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    100219 | NS      | $11751679.94  | 0.68%             |  |  |  | No            | 1                  | On Loan: No      |
| EATON CORPORATION PUBLIC LIMITED COMPANY        | EATON CORP PLC                          | CUSIP: G29183103<br>LEI: 549300VDIGTMXUNT7H71 | Long             | EC               | CORP              | IE        |     35965 | NS      | $11455212.15  | 0.66%             |  |  |  | No            | 1                  | On Loan: No      |
| MCDONALD'S CORPORATION                          | MCDONALD S CORP                         | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |     76218 | NS      | $23294507.34  | 1.34%             |  |  |  | No            | 1                  | On Loan: No      |
| BROADCOM INC.                                   | BROADCOM INC                            | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     68202 | NS      | $23604712.20  | 1.36%             |  |  |  | No            | 1                  | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co., Ltd.    | TAIWAN SEMICONDUCTOR MANUFACTU          | CUSIP: N/A<br>LEI: 549300KB6NK5SBD14S87       | Long             | EC               | CORP              | TW        |    847000 | NS      | $41640833.97  | 2.39%             |  |  |  | No            | 2                  | On Loan: No      |
| TESLA, INC.                                     | TESLA INC                               | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |     43139 | NS      | $19400471.08  | 1.12%             |  |  |  | No            | 1                  | On Loan: No      |
| APA CORPORATION                                 | APA CORP                                | CUSIP: 03743Q108<br>LEI: 549300VCIWLRHYVSHC79 | Long             | EC               | CORP              | US        |    465544 | NS      | $11387206.24  | 0.65%             |  |  |  | No            | 1                  | On Loan: No      |
| MICROSOFT CORPORATION                           | MICROSOFT CORP                          | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |    154210 | NS      | $74579040.20  | 4.29%             |  |  |  | No            | 1                  | On Loan: No      |
| MINES AGNICO EAGLE LIMITEE                      | AGINCO EAGLE MINES LTD                  | CUSIP: 008474108<br>LEI: 254900BFJ2DOHPMEXN45 | Long             | EC               | CORP              | CA        |    113790 | NS      | $19298863.60  | 1.11%             |  |  |  | No            | 1                  | On Loan: No      |
| ORACLE CORPORATION JAPAN                        | ORACLE CORP JAPAN                       | CUSIP: N/A<br>LEI: 529900MIMKY9RU60Z323       | Long             | EC               | CORP              | JP        |    100600 | NS      | $8456412.25   | 0.49%             |  |  |  | No            | 2                  | On Loan: No      |
| LITE-ON TECHNOLOGY CORPORATION                  | LITE ON TECHNOLOGY CORP                 | CUSIP: N/A<br>LEI: 2549005GU1PQ73SZBT32       | Long             | EC               | CORP              | TW        |   1902000 | NS      | $9895912.33   | 0.57%             |  |  |  | No            | 2                  | On Loan: No      |
| ATCO LTD.                                       | ATCO LTD                                | CUSIP: 046789400<br>LEI: 5299005SPZ1QYL51JD25 | Long             | EC               | CORP              | CA        |    183915 | NS      | $7555470.49   | 0.43%             |  |  |  | No            | 1                  | On Loan: No      |
| EDISON INTERNATIONAL                            | EDISON INTERNATIONAL                    | CUSIP: 281020107<br>LEI: 549300I7ROF15MAEVP56 | Long             | EC               | CORP              | US        |    195204 | NS      | $11716144.08  | 0.67%             |  |  |  | No            | 1                  | On Loan: No      |
| GEORGE WESTON LIMITEE.                          | GEORGE WESTON LIMITED                   | CUSIP: 961148509<br>LEI: 549300FAHC3L1QKNT280 | Long             | EC               | CORP              | CA        |    179300 | NS      | $12370968.38  | 0.71%             |  |  |  | No            | 1                  | On Loan: No      |
| JPMORGAN CHASE & CO.                            | JPMORGAN CHASE CO                       | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     95646 | NS      | $30819054.12  | 1.77%             |  |  |  | No            | 1                  | On Loan: No      |
| PT Telkom Indonesia (Persero) Tbk               | TELKOM INDONESIA PERSERO                | CUSIP: N/A<br>LEI: 529900M5SQZAOKV1PC81       | Long             | EC               | CORP              | ID        |  57805200 | NS      | $12098518.37  | 0.70%             |  |  |  | No            | 2                  | On Loan: No      |
| CISCO SYSTEMS, INC.                             | CISCO SYSTEMS INC                       | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |    306291 | NS      | $23593595.73  | 1.36%             |  |  |  | No            | 1                  | On Loan: No      |
| ENEL - SPA                                      | ENEL SPA                                | CUSIP: N/A<br>LEI: WOCMU6HCI0OJWNPRZS33       | Long             | EC               | CORP              | IT        |   1066365 | NS      | $11086427.56  | 0.64%             |  |  |  | No            | 2                  | On Loan: No      |
| UNUM GROUP                                      | UNUM GROUP                              | CUSIP: 91529Y106<br>LEI: 549300E32YFDO6TZ8R31 | Long             | EC               | CORP              | US        |    251905 | NS      | $19522637.50  | 1.12%             |  |  |  | No            | 1                  | On Loan: No      |
| Siemens Aktiengesellschaft                      | SIEMENS AG                              | CUSIP: N/A<br>LEI: W38RGI023J3WT1HWRP32       | Long             | EC               | CORP              | DE        |     46232 | NS      | $12947410.26  | 0.74%             |  |  |  | No            | 2                  | On Loan: No      |
| JOHNSON & JOHNSON                               | JOHNSON JOHNSON                         | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |    108464 | NS      | $22446624.80  | 1.29%             |  |  |  | No            | 1                  | On Loan: No      |
| BANK OF AMERICA CORPORATION                     | BANK OF AMERICA CORP                    | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |    341455 | NS      | $18780025.00  | 1.08%             |  |  |  | No            | 1                  | On Loan: No      |
| FORTINET, INC.                                  | FORTINET INC                            | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Long             | EC               | CORP              | US        |    219367 | NS      | $17419933.47  | 1.00%             |  |  |  | No            | 1                  | On Loan: No      |
| AMAZON.COM, INC.                                | AMAZON COM INC                          | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |    181971 | NS      | $42002546.22  | 2.41%             |  |  |  | No            | 1                  | On Loan: No      |
| SWISS FRANC                                     | SWISS FRANC                             | CUSIP: N/A<br>LEI: N/A                        | N/A              |  |  | CH        |      3323 | NS      | $4196.64      | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| PROLOGIS, INC.                                  | PROLOGIS INC                            | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |    111640 | NS      | $14251962.40  | 0.82%             |  |  |  | No            | 1                  | On Loan: No      |
| GREAT BRITISH POUND                             | GREAT BRITISH POUND                     | CUSIP: N/A<br>LEI: N/A                        | N/A              |  |  | GB        |    133700 | NS      | $180188.77    | 0.01%             |  |  |  | No            | N/A                | 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        |   1049792 | NS      | $1049792.50   | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED | INDUSTRIAL COMMERCIAL BANK OF CHINA LTD | CUSIP: N/A<br>LEI: 5493002ERZU2K9PZDL40       | Long             | EC               | CORP              | CN        |  18890000 | NS      | $15286290.17  | 0.88%             |  |  |  | No            | 2                  | On Loan: No      |
| THE PNC FINANCIAL SERVICES GROUP, INC.          | PNC FINANCIAL SERVICES GROUP INC        | CUSIP: 693475105<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EC               | CORP              | US        |     52469 | NS      | $10951854.37  | 0.63%             |  |  |  | No            | 1                  | On Loan: No      |
| CANADIAN DOLLAR                                 | CANADIAN DOLLAR                         | CUSIP: N/A<br>LEI: N/A                        | N/A              |  |  | CA        |     82069 | NS      | $59799.92     | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| Partners Group Holding AG                       | PARTNERS GROUP HOLDING AG               | CUSIP: N/A<br>LEI: 549300I3IVVWZWDHI788       | Long             | EC               | CORP              | CH        |      7516 | NS      | $9224314.64   | 0.53%             |  |  |  | No            | 2                  | On Loan: No      |
| JACKSON FINANCIAL INC.                          | JACKSON FINANCIAL INC                   | CUSIP: 46817M107<br>LEI: 213800WXW2KG1N4CO374 | Long             | EC               | CORP              | US        |     90188 | NS      | $9618550.20   | 0.55%             |  |  |  | No            | 1                  | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria, S.A.           | BANCO BILBAO VIZCAYA ARGENTARIA SA      | CUSIP: N/A<br>LEI: K8MS7FD7N5Z2WQ51AZ71       | Long             | EC               | CORP              | ES        |    873902 | NS      | $20497582.50  | 1.18%             |  |  |  | No            | 2                  | On Loan: No      |
| Roche Holding AG                                | ROCHE HOLDING AG                        | CUSIP: N/A<br>LEI: 549300U41AUUVOAAOB37       | Long             | EC               | CORP              | CH        |     55047 | NS      | $22738509.32  | 1.31%             |  |  |  | No            | 2                  | On Loan: No      |
| FUJI ELECTRIC CO., LTD.                         | FUJI ELECTRIC CO LTD                    | CUSIP: N/A<br>LEI: 5299000HVNGZZTYYM906       | Long             | EC               | CORP              | JP        |    153400 | NS      | $11634575.60  | 0.67%             |  |  |  | No            | 2                  | On Loan: No      |
| CONSTELLATION ENERGY CORPORATION.               | CONSTELLATION ENERGY CORP               | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |     32904 | NS      | $11623996.08  | 0.67%             |  |  |  | No            | 1                  | On Loan: No      |
| SYNCHRONY FINANCIAL                             | SYNCHRONY FINANCIAL                     | CUSIP: 87165B103<br>LEI: 549300RS7EWPM9MA6C78 | Long             | EC               | CORP              | US        |    137508 | NS      | $11472292.44  | 0.66%             |  |  |  | No            | 1                  | On Loan: No      |
| Doximity Inc                                    | DOXIMITY INC                            | CUSIP: 26622P107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    194349 | NS      | $8605773.72   | 0.49%             |  |  |  | No            | 1                  | On Loan: No      |
| COLGATE-PALMOLIVE COMPANY                       | COLGATE PALMOLIVE CO                    | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |    252997 | NS      | $19991822.94  | 1.15%             |  |  |  | No            | 1                  | On Loan: No      |
| APPLE INC.                                      | APPLE INC                               | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |    319532 | NS      | $86867969.52  | 4.99%             |  |  |  | No            | 1                  | On Loan: No      |
| GAZTRANSPORT ET TECHNIGAZ SA                    | GAZTRANSPORT ET TECHNIGAZ SA            | CUSIP: N/A<br>LEI: 969500BVOHVZUUFWDT54       | Long             | EC               | CORP              | FR        |     55547 | NS      | $10191279.92  | 0.59%             |  |  |  | No            | 2                  | On Loan: No      |
| HSBC US GOVERNMENT MONEY MARKET FUND            | HSBC US GOVT MMKT-I                     | CUSIP: 40428X107<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   1049792 | NS      | $1049792.50   | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| ELI LILLY AND COMPANY                           | ELI LILLY CO                            | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |     30190 | NS      | $32444589.20  | 1.87%             |  |  |  | No            | 1                  | On Loan: No      |
| Atlas Copco Aktiebolag                          | ATLAS COPCO AB                          | CUSIP: N/A<br>LEI: 213800T8PC8Q4FYJZR07       | Long             | EC               | CORP              | SE        |    575858 | NS      | $9208672.86   | 0.53%             |  |  |  | No            | 2                  | On Loan: No      |
| NEXT PLC                                        | NEXT PLC                                | CUSIP: N/A<br>LEI: 213800WQD8ECPZP9PH98       | Long             | EC               | CORP              | GB        |     70825 | NS      | $13036556.99  | 0.75%             |  |  |  | No            | 2                  | On Loan: No      |
| EXXON MOBIL CORPORATION                         | EXXON MOBIL CORP                        | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |    204991 | NS      | $24668616.94  | 1.42%             |  |  |  | No            | 1                  | On Loan: No      |
| ALCOA CORPORATION                               | ALCOA CORP                              | CUSIP: 013872106<br>LEI: 549300T12EZ1F6PWWU29 | Long             | EC               | CORP              | US        |    243453 | NS      | $12937092.42  | 0.74%             |  |  |  | No            | 1                  | On Loan: No      |
| MASTERCARD INCORPORATED.                        | MASTERCARD INC CLASS A                  | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |     55067 | NS      | $31436648.96  | 1.81%             |  |  |  | No            | 1                  | On Loan: No      |
| VERTIV HOLDINGS CO                              | VERTIV HOLDINGS CO                      | CUSIP: 92537N108<br>LEI: 549300KTTIRAOGXCRV69 | Long             | EC               | CORP              | US        |     63098 | NS      | $10222506.98  | 0.59%             |  |  |  | No            | 1                  | On Loan: No      |
| ALPHABET INC.                                   | ALPHABET INC CLASS C                    | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    225256 | NS      | $70685332.80  | 4.06%             |  |  |  | No            | 1                  | On Loan: No      |
| INVESCO GOVERNMENT & AGENCY PORTFOLIO           | INVESCO GVT & AGNCY-INST                | CUSIP: 825252885<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   1049792 | NS      | $1049792.50   | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| GILEAD SCIENCES, INC.                           | GILEAD SCIENCES INC                     | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |    130578 | NS      | $16027143.72  | 0.92%             |  |  |  | No            | 1                  | On Loan: No      |
| CATERPILLAR INC.                                | CATERPILLAR INC                         | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |     44408 | NS      | $25440010.96  | 1.46%             |  |  |  | No            | 1                  | On Loan: No      |
| CONSTELLATION SOFTWARE INC CANADA               | CONSTELLATION SOFTWARE INC CANADA       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | CA        |      3376 | NS      | $0.00         | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| Pepsico, Inc.                                   | PEPSICO INC                             | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |    125281 | NS      | $17980329.12  | 1.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Sanrio Company,Ltd.                             | SANRIO CO LTD                           | CUSIP: N/A<br>LEI: 3538002Q5JQLOMSPH125       | Long             | EC               | CORP              | JP        |    172100 | NS      | $5385734.47   | 0.31%             |  |  |  | No            | 2                  | On Loan: No      |
| ARISTOCRAT LEISURE LIMITED                      | ARISTOCRAT LEISURE LTD                  | CUSIP: N/A<br>LEI: 529900TE2HO3OZKYKC27       | Long             | EC               | CORP              | AU        |    299934 | NS      | $11609153.30  | 0.67%             |  |  |  | No            | 2                  | On Loan: No      |
| CURTISS-WRIGHT CORPORATION                      | CURTISS WRIGHT CORP                     | CUSIP: 231561101<br>LEI: TEL51ETZWP7D0ZM4X325 | Long             | EC               | CORP              | US        |     28702 | NS      | $15822551.54  | 0.91%             |  |  |  | No            | 1                  | On Loan: No      |
| KONGSBERG GRUPPEN ASA                           | KONGSBERG GRUPPEN ASA                   | CUSIP: N/A<br>LEI: 5967007LIEEXZXJ9HK73       | Long             | EC               | CORP              | NO        |    324587 | NS      | $8321836.37   | 0.48%             |  |  |  | No            | 2                  | On Loan: No      |
| FREEPORT-MCMORAN INC.                           | FREEPORT MCMORAN INC                    | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |    253654 | NS      | $12883086.66  | 0.74%             |  |  |  | No            | 1                  | On Loan: No      |
| TEXAS INSTRUMENTS INCORPORATED                  | TEXAS INSTRUMENTS INC                   | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |     68924 | NS      | $11957624.76  | 0.69%             |  |  |  | No            | 1                  | On Loan: No      |
| TOYO SUISAN KAISHA, LTD.                        | TOYO SUISAN KAISHA LTD                  | CUSIP: 892306101<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    118600 | NS      | $8137188.07   | 0.47%             |  |  |  | No            | 2                  | On Loan: No      |
| NATIONAL FUEL GAS COMPANY                       | NATIONAL FUEL GAS CO                    | CUSIP: 636180101<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | EC               | CORP              | US        |     69079 | NS      | $5530464.74   | 0.32%             |  |  |  | No            | 1                  | On Loan: No      |
| SINGAPORE EXCHANGE LIMITED                      | SINGAPORE EXCHANGE LTD                  | CUSIP: N/A<br>LEI: 549300IQ650PPXM76X03       | Long             | EC               | CORP              | SG        |   1341500 | NS      | $17663525.80  | 1.02%             |  |  |  | No            | 2                  | On Loan: No      |
| IMPERIAL BRANDS PLC                             | IMPERIAL BRANDS PLC                     | CUSIP: N/A<br>LEI: 549300DFVPOB67JL3A42       | Long             | EC               | CORP              | GB        |    329914 | NS      | $13850668.87  | 0.80%             |  |  |  | No            | 2                  | On Loan: No      |
| Carnival Corporation                            | CARNIVAL CORP                           | CUSIP: 143658300<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | EC               | CORP              | PA        |    284462 | NS      | $8687469.48   | 0.50%             |  |  |  | No            | 1                  | On Loan: No      |
| DEXCOM, INC.                                    | DEXCOM INC                              | CUSIP: 252131107<br>LEI: 549300YSK3QDSFR5EU59 | Long             | EC               | CORP              | US        |    118992 | NS      | $7897499.04   | 0.45%             |  |  |  | No            | 1                  | On Loan: No      |
| S&P GLOBAL INC.                                 | S P GLOBAL INC                          | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |     34452 | NS      | $18004270.68  | 1.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Aena, S.M.E., S.A.                              | AENA SME SA                             | CUSIP: E526LK101<br>LEI: 959800R7QMXKF0NFMT29 | Long             | EC               |  | ES        |    266960 | NS      | $7458469.76   | 0.43%             |  |  |  | Yes           | 2                  | On Loan: No      |

### Signature

**Date Signed:** 2026-01-30

**Name of Applicant:** Victory Portfolios

**Signature:** Carol Trevino

**Name of Signer:** Carol Trevino

**Title:** Treasurer