# EDGAR Filing Document

**Accession Number:** 0000802716
**File Stem:** 0001752724-25-210025
**Filing Date:** 2025-8
**Character Count:** 46757
**Document Hash:** 276232538b4b0ded190a6ea537439a02
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-210025.hdr.sgml**: 20250828

**ACCESSION NUMBER**: 0001752724-25-210025

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250828

**DATE AS OF CHANGE**: 20250828

**PERIOD START**: 20250630

**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:** 251268195

**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 Integrity Small-Cap Value Fund (Series ID: S000046393)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000144977 | Class A      | VSCVX           |
| C000144978 | Class C      | MCVSX           |
| C000144979 | Class R      | MRVSX           |
| C000144980 | Class R6     | MVSSX           |
| C000144981 | Class Y      | VSVIX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Victory Portfolios

- **b. Investment Company Act file number:** 811-04852

- **c. CIK number of Registrant:** 0000802716

- **d. LEI of Registrant:** 549300V07N3HJP1EW330

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 4900 Tiedeman Road 4th Floor

  - **City:** Brooklyn

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 44144

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

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

- **a. Name of Series:** Victory Integrity Small-Cap Value Fund

- **b. EDGAR series identifier (if any):** S000046393

- **c. LEI of Series:** 5493000LV00VJ8XBPX24

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

- **a. Date of fiscal year-end:** 2025-06-30

- **b. Date as of which information is reported:** 2025-06-30

**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:** $1024720400.73

**Total Liabilities:** $13179349.29

**Net Assets:** $1011541051.44

**Cash Not Reported:** $10534385.47

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000144980 | -5.89%               | 4.75%                | 3.16%                |
| Class ID C000144977 | -5.91%               | 4.73%                | 3.08%                |
| Class ID C000144981 | -5.88%               | 4.76%                | 3.13%                |
| Class ID C000144978 | -6.03%               | 4.68%                | 2.98%                |
| Class ID C000144979 | -5.92%               | 4.67%                | 3.07%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-7973631.89             | $-51313190.57                              |
| Month 2  | $-9341118.09             | $52090078.47                               |
| Month 3  | $-3246242.89             | $31680996.86                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| LADDER CAPITAL CORP                            | LADDER CAPITAL CORP                     | CUSIP: 505743104<br>LEI: 549300Q6LLV2QCV67C06 | Long             | EC               | CORP              | US        |    729700 | NS      | $7844275.00   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| SALLY BEAUTY HOLDINGS, INC.                    | SALLY BEAUTY HOLDINGS INC               | CUSIP: 79546E104<br>LEI: 529900VXW6E8ONDIQ271 | Long             | EC               | CORP              | US        |    861500 | NS      | $7977490.00   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| NORTHWEST BANCSHARES, INC.                     | NORTHWEST BANCSHARES INC                | CUSIP: 667340103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    877000 | NS      | $11208060.00  | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| ADVANCE AUTO PARTS, INC.                       | ADVANCE AUTO PARTS INC                  | CUSIP: 00751Y106<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | EC               | CORP              | US        |    131600 | NS      | $6118084.00   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| ICU MEDICAL, INC.                              | ICU MEDICAL INC                         | CUSIP: 44930G107<br>LEI: 5493003NRW7LS2QZRH60 | Long             | EC               | CORP              | US        |     53200 | NS      | $7030380.00   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| THE GREENBRIER COMPANIES, INC.                 | GREENBRIER COS INC THE                  | CUSIP: 393657101<br>LEI: 5493001GAGGFR30BP390 | Long             | EC               | CORP              | US        |    155500 | NS      | $7160775.00   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| NEWELL BRANDS INC.                             | NEWELL BRANDS INC                       | CUSIP: 651229106<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | EC               | CORP              | US        |   1135278 | NS      | $6130501.20   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTHSTATE CORPORATION                         | SOUTHSTATE CORP                         | CUSIP: 840441109<br>LEI: 549300JZUANXM0YQ4W53 | Long             | EC               | CORP              | US        |    132600 | NS      | $12203178.00  | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| STEWART INFORMATION SERVICES CORPORATION       | STEWART INFORMATION SERVICES            | CUSIP: 860372101<br>LEI: 529900TV1XI0PLKENU10 | Long             | EC               | CORP              | US        |    133500 | NS      | $8690850.00   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Signet Jewelers Limited                        | SIGNET JEWELERS LTD                     | CUSIP: G81276100<br>LEI: 549300N3XPGE91WV7M22 | Long             | EC               | CORP              | BM        |     73900 | NS      | $5878745.00   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| PATTERSON-UTI ENERGY, INC.                     | PATTERSON UTI ENERGY INC                | CUSIP: 703481101<br>LEI: 254900XGFBKIXD6G0697 | Long             | EC               | CORP              | US        |    862700 | NS      | $5115811.00   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| NORTHWESTERN ENERGY GROUP, INC.                | NORTHWESTERN CORP                       | CUSIP: 668074305<br>LEI: 254900N1WG46G1VMDM34 | Long             | EC               | CORP              | US        |    180400 | NS      | $9254520.00   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| BRUNSWICK CORPORATION                          | BRUNSWICK CORP                          | CUSIP: 117043109<br>LEI: YM4O38W15AX4YLLQKU27 | Long             | EC               | CORP              | US        |    105100 | NS      | $5805724.00   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF HAWAII CORPORATION                     | BANK OF HAWAII CORP                     | CUSIP: 062540109<br>LEI: 5493006Q8BQ8AD8M2U33 | Long             | EC               | CORP              | US        |    184150 | NS      | $12435649.50  | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| SKYWEST, INC.                                  | SKYWEST INC                             | CUSIP: 830879102<br>LEI: 529900UYS2KGS6Z42P09 | Long             | EC               | CORP              | US        |    100900 | NS      | $10389673.00  | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| LIVANOVA PLC                                   | LIVANOVA PLC                            | CUSIP: G5509L101<br>LEI: 2138001K2FX6SHK2B339 | Long             | EC               | CORP              | GB        |    189000 | NS      | $8508780.00   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERIS BANCORP                                 | AMERIS BANCORP                          | CUSIP: 03076K108<br>LEI: PBJHNT51T5V6G5UQFV42 | Long             | EC               | CORP              | US        |    202500 | NS      | $13101750.00  | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| MAXLINEAR, INC.                                | MAXLINEAR INC                           | CUSIP: 57776J100<br>LEI: 549300EMOI0SM2IY4F64 | Long             | EC               | CORP              | US        |    397000 | NS      | $5641370.00   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| ENVISTA HOLDINGS CORPORATION                   | ENVISTA HOLDINGS CORP                   | CUSIP: 29415F104<br>LEI: 549300BX623VURJZ5269 | Long             | EC               | CORP              | US        |    385845 | NS      | $7539411.30   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| GLACIER BANCORP, INC.                          | GLACIER BANCORP INC                     | CUSIP: 37637Q105<br>LEI: 549300SMJAUKZB5D7V74 | Long             | EC               | CORP              | US        |    313000 | NS      | $13484040.00  | 1.33%             |  |  |  | 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        |   3047863 | NS      | $3047863.25   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| CVB FINANCIAL CORP.                            | CVB FINANCIAL CORP                      | CUSIP: 126600105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    541600 | NS      | $10718264.00  | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| THE ANDERSONS, INC                             | THE ANDERSONS INC                       | CUSIP: 034164103<br>LEI: L38MWB8MVRFV7HVJPU11 | Long             | EC               | CORP              | US        |    148000 | NS      | $5439000.00   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| THE CHEFS' WAREHOUSE, INC.                     | CHEFS WAREHOUSE INC THE                 | CUSIP: 163086101<br>LEI: 549300JYEDC8C547E980 | Long             | EC               | CORP              | US        |    179898 | NS      | $11479291.38  | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| ESSENTIAL PROPERTIES REALTY TRUST, INC.        | ESSENTIAL PROPERTIES REALTY TRUST INC   | CUSIP: 29670E107<br>LEI: 2549009LXQLVYCGLZO50 | Long             | EC               | CORP              | US        |    302500 | NS      | $9652775.00   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| VALMONT INDUSTRIES, INC.                       | VALMONT INDUSTRIES INC                  | CUSIP: 920253101<br>LEI: 5493009ZGZJJ8F77JN08 | Long             | EC               | CORP              | US        |     20100 | NS      | $6564057.00   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| NBT BANCORP INC.                               | N B T BANCORP INC                       | CUSIP: 628778102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    248000 | NS      | $10304400.00  | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| VIRTUS INVESTMENT PARTNERS, INC.               | VIRTUS INVESTMENT PARTNERS INC          | CUSIP: 92828Q109<br>LEI: 549300HWF93HB8BDM648 | Long             | EC               | CORP              | US        |     43000 | NS      | $7800200.00   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| CORE NATURAL RESOURCES, INC.                   | CORE NATURAL RESOURCES INC              | CUSIP: 218937100<br>LEI: 549300YJCTPJBTK7IJ81 | Long             | EC               | CORP              | US        |    107100 | NS      | $7469154.00   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| TRI POINTE HOMES, INC.                         | TRI POINTE HOMES INC                    | CUSIP: 87265H109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    191200 | NS      | $6108840.00   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| HUB GROUP, INC.                                | HUB GROUP INC CL A                      | CUSIP: 443320106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    209600 | NS      | $7006928.00   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| SCIENCE APPLICATIONS INTERNATIONAL CORPORATION | SCIENCE APPLICATIONS INTERNATIONAL CORP | CUSIP: 808625107<br>LEI: 549300LZPNZIXQGZPZ48 | Long             | EC               | CORP              | US        |     68800 | NS      | $7747568.00   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| SCORPIO TANKERS INC.                           | SCORPIO TANKERS INC                     | CUSIP: Y7542C130<br>LEI: 549300NVJUH16NXG8K87 | Long             | EC               | CORP              | MH        |    186100 | NS      | $7282093.00   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| ESSENT GROUP LTD                               | ESSENT GROUP LTD                        | CUSIP: G3198U102<br>LEI: 254900QUO860OUT6ZF83 | Long             | EC               | CORP              | BM        |    216300 | NS      | $13135899.00  | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Edgewell Personal Care Company                 | EDGEWELL PERSONAL CARE CO               | CUSIP: 28035Q102<br>LEI: 549300CY8QZDL4Z3RU59 | Long             | EC               | CORP              | US        |    204762 | NS      | $4793478.42   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| CURBLINE PROPERTIES CORP.                      | CURBLINE PROPERTIES CORP                | CUSIP: 23128Q101<br>LEI: 529900PGR41LH0I81I15 | Long             | EC               | CORP              | US        |    428500 | NS      | $9782655.00   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| PRESTIGE CONSUMER HEALTHCARE INC.              | PRESTIGE CONSUMER HEALTHCARE INC        | CUSIP: 74112D101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    108600 | NS      | $8671710.00   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| DYNEX CAPITAL, INC.                            | DYNEX CAPITAL INC                       | CUSIP: 26817Q886<br>LEI: 5CIJ4S9HAEBWILA19B65 | Long             | EC               | CORP              | US        |    600000 | NS      | $7332000.00   | 0.72%             |  |  |  | No            |                  1 | On Loan: —       |
| DOUGLAS EMMETT, INC.                           | DOUGLAS EMMETT INC                      | CUSIP: 25960P109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    644000 | NS      | $9685760.00   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| THE TIMKEN COMPANY                             | TIMKEN CO                               | CUSIP: 887389104<br>LEI: B0I35MLPFXZSE70ASS73 | Long             | EC               | CORP              | US        |     87200 | NS      | $6326360.00   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| PORTLAND GENERAL ELECTRIC COMPANY              | PORTLAND GENERAL ELECTRIC CO            | CUSIP: 736508847<br>LEI: GJOUP9M7C39GLSK9R870 | Long             | EC               | CORP              | US        |    220000 | NS      | $8938600.00   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| MARRIOTT VACATIONS WORLDWIDE CORPORATION       | MARRIOTT VACATIONS WORLDWIDE CORP       | CUSIP: 57164Y107<br>LEI: 549300WA6BT5H4F7IO94 | Long             | EC               | CORP              | US        |    124306 | NS      | $8988566.86   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| HANCOCK WHITNEY CORPORATION                    | HANCOCK WHITNEY CORP                    | CUSIP: 410120109<br>LEI: 549300GRNBWY8HIICT41 | Long             | EC               | CORP              | US        |    224900 | NS      | $12909260.00  | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| KNOWLES CORPORATION                            | KNOWLES CORP                            | CUSIP: 49926D109<br>LEI: 5493003EO323TDZQU148 | Long             | EC               | CORP              | US        |    463000 | NS      | $8158060.00   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| BELDEN INC.                                    | BELDEN INC                              | CUSIP: 077454106<br>LEI: 68BKYO1JC791TTJHUE82 | Long             | EC               | CORP              | US        |     75900 | NS      | $8789220.00   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| COMMERCIAL METALS COMPANY                      | COMMERCIAL METALS COMPANY               | CUSIP: 201723103<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | EC               | CORP              | US        |    190000 | NS      | $9292900.00   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| GULFPORT ENERGY CORPORATION                    | GULFPORT ENERGY CORP                    | CUSIP: 402635502<br>LEI: 254900DJRGZBUZ3F5038 | Long             | EC               | CORP              | US        |     40500 | NS      | $8147385.00   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| BANNER CORPORATION                             | BANNER CORP                             | CUSIP: 06652V208<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    174000 | NS      | $11162100.00  | 1.10%             |  |  |  | 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        |   3047863 | NS      | $3047863.25   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| MURPHY OIL CORPORATION                         | MURPHY OIL CORP                         | CUSIP: 626717102<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | EC               | CORP              | US        |    364300 | NS      | $8196750.00   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| URANIUM ENERGY CORP.                           | URANIUM ENERGY CORP                     | CUSIP: 916896103<br>LEI: 549300VD69WD2USLIP04 | Long             | EC               | CORP              | US        |   1061700 | NS      | $7219560.00   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| SYNAPTICS INCORPORATED                         | SYNAPTICS INCORPORATED                  | CUSIP: 87157D109<br>LEI: 549300AJ3LI4FWNRQX29 | Long             | EC               | CORP              | US        |    154032 | NS      | $9984354.24   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKDALE SENIOR LIVING INC.                   | BROOKDALE SENIOR LIVING INC             | CUSIP: 112463104<br>LEI: LH7MQB13NWY7CJ9VC445 | Long             | EC               | CORP              | US        |    934000 | NS      | $6500640.00   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| THE BRINK'S COMPANY                            | BRINK S CO THE                          | CUSIP: 109696104<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | EC               | CORP              | US        |    114592 | NS      | $10231919.68  | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| FLAGSTAR FINANCIAL, INC.                       | FLAGSTAR FINANCIAL INC                  | CUSIP: 649445400<br>LEI: 529900HVXOTLY61GL030 | Long             | EC               | CORP              | US        |   1144200 | NS      | $12128520.00  | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| SANMINA CORPORATION                            | SANMINA CORP                            | CUSIP: 801056102<br>LEI: X5K24XLM8QYRXF00EB42 | Long             | EC               | CORP              | US        |     81640 | NS      | $7986841.20   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| THE BUCKLE, INC.                               | BUCKLE INC THE                          | CUSIP: 118440106<br>LEI: 5299007IU0461T3GDL34 | Long             | EC               | CORP              | US        |    147300 | NS      | $6680055.00   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| TALOS ENERGY INC.                              | TALOS ENERGY INC                        | CUSIP: 87484T108<br>LEI: 549300OKFHZ84SFJFT95 | Long             | EC               | CORP              | US        |    656000 | NS      | $5562880.00   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| PENN Entertainment, Inc.                       | PENN ENTERTAINMENT INC                  | CUSIP: 707569109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    309200 | NS      | $5525404.00   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust - iShares Russell 2000 Value ETF | ISHARES RUSSELL 2000 VALUE ETF          | CUSIP: 464287630<br>LEI: 549300WJAJCAZZLTQD63 | Long             |  | RF                | US        |     69000 | NS      | $10885440.00  | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| UFP INDUSTRIES, INC.                           | UFP INDUSTRIES INC                      | CUSIP: 90278Q108<br>LEI: 5493007KB485C9OV5572 | Long             | EC               | CORP              | US        |     90300 | NS      | $8972208.00   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| BOK FINANCIAL CORPORATION                      | BOK FINANCIAL CORP                      | CUSIP: 05561Q201<br>LEI: GRI2NT5QHYW751NMR949 | Long             | EC               | CORP              | US        |     77300 | NS      | $7546799.00   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| AVIENT CORPORATION                             | AVIENT CORP                             | CUSIP: 05368V106<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | EC               | CORP              | US        |    188800 | NS      | $6100128.00   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| BREAD FINANCIAL HOLDINGS, INC.                 | BREAD FINANCIAL HOLDINGS                | CUSIP: 018581108<br>LEI: 549300G8S4PO686J7H97 | Long             | EC               | CORP              | US        |    138000 | NS      | $7882560.00   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| CALIFORNIA RESOURCES CORPORATION               | CALIFORNIA RESOURCES CORP               | CUSIP: 13057Q305<br>LEI: 5493003Q8F0T4F4YMR48 | Long             | EC               | CORP              | US        |    204100 | NS      | $9321247.00   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| MSILF Government Portfolio                     | MSILF GOVERNMENT-INST                   | CUSIP: 61747C707<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   3047863 | NS      | $3047863.25   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| ATLAS ENERGY SOLUTIONS INC.                    | NEW ATLAS HOLDCO INC                    | CUSIP: 642045108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    434566 | NS      | $5810147.42   | 0.57%             |  |  |  | No            |                  1 | On Loan: —       |
| KORN FERRY                                     | KORN FERRY                              | CUSIP: 500643200<br>LEI: 549300FOD20OM0GT5G40 | Long             | EC               | CORP              | US        |    139500 | NS      | $10229535.00  | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Spire Inc.                                     | SPIRE INC                               | CUSIP: 84857L101<br>LEI: 549300NXSY15DRY2R511 | Long             | EC               | CORP              | US        |    136300 | NS      | $9948537.00   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| STEVEN MADDEN, LTD.                            | STEVEN MADDEN LTD                       | CUSIP: 556269108<br>LEI: 549300Z9GZ7GYJWSGF43 | Long             | EC               | CORP              | US        |    265000 | NS      | $6354700.00   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| MINERALS TECHNOLOGIES INC.                     | MINERALS TECHNOLOGIES INC               | CUSIP: 603158106<br>LEI: 549300D3I1QU67GP6403 | Long             | EC               | CORP              | US        |    109397 | NS      | $6024492.79   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| LXP INDUSTRIAL TRUST                           | LXP INDUSTRIAL TRUST                    | CUSIP: 529043101<br>LEI: 549300S4MH2ICXDBFV43 | Long             | EC               | CORP              | US        |   1061000 | NS      | $8763860.00   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXSTAR MEDIA GROUP, INC.                      | NEXSTAR MEDIA GROUP INC                 | CUSIP: 65336K103<br>LEI: 52990083ZRR5UT591988 | Long             | EC               | CORP              | US        |     43727 | NS      | $7562584.65   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| KULICKE AND SOFFA INDUSTRIES, INC.             | KULICKE SOFFA INDUSTRIES INC            | CUSIP: 501242101<br>LEI: 529900H6BEIRBF429744 | Long             | EC               | CORP              | US        |    169500 | NS      | $5864700.00   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| STAG INDUSTRIAL, INC.                          | STAG INDUSTRIAL INC                     | CUSIP: 85254J102<br>LEI: 549300QWYX2W6FASVQ07 | Long             | EC               | CORP              | US        |    190000 | NS      | $6893200.00   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| SEALED AIR CORPORATION                         | SEALED AIR CORP                         | CUSIP: 81211K100<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | EC               | CORP              | US        |    248300 | NS      | $7704749.00   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| BLUELINX HOLDINGS INC.                         | BLUELINX HOLDINGS INC                   | CUSIP: 09624H208<br>LEI: 549300YSX7GU28F5I540 | Long             | EC               | CORP              | US        |     71773 | NS      | $5338475.74   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| LIONSGATE STUDIOS CORP.                        | LIONSGATE STUDIOS CORP                  | CUSIP: 53626N102<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    750000 | NS      | $4357500.00   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| INVESCO GOVERNMENT & AGENCY PORTFOLIO          | INVESCO GVT & AGNCY-INST                | CUSIP: 825252885<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   3047863 | NS      | $3047863.25   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| RESIDEO TECHNOLOGIES, INC.                     | RESIDEO TECHNOLOGIES INC                | CUSIP: 76118Y104<br>LEI: 5493006TKFPYISY2DS54 | Long             | EC               | CORP              | US        |    225800 | NS      | $4981148.00   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| VERITEX HOLDINGS, INC.                         | VERITEX HOLDINGS INC                    | CUSIP: 923451108<br>LEI: 549300F3SMOML02SC814 | Long             | EC               | CORP              | US        |    413000 | NS      | $10779300.00  | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| VALLEY NATIONAL BANCORP                        | VALLEY NATIONAL BANCORP                 | CUSIP: 919794107<br>LEI: 549300ET52S1UBIB9762 | Long             | EC               | CORP              | US        |   1409000 | NS      | $12582370.00  | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| SILA REALTY TRUST, INC.                        | SILA REALTY TRUST INC                   | CUSIP: 146280508<br>LEI: 549300HXH142HWKKSW59 | Long             | EC               | CORP              | US        |    283500 | NS      | $6710445.00   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| EXTREME NETWORKS, INC.                         | EXTREME NETWORKS INC                    | CUSIP: 30226D106<br>LEI: 549300WRECW11X94UB57 | Long             | EC               | CORP              | US        |    503500 | NS      | $9037825.00   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| CUSHMAN & WAKEFIELD PLC                        | CUSHMAN WAKEFIELD PLC                   | CUSIP: G2717B108<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |    928000 | NS      | $10272960.00  | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| TEREX CORPORATION                              | TEREX CORPORATION                       | CUSIP: 880779103<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | EC               | CORP              | US        |    198500 | NS      | $9267965.00   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| G-III APPAREL GROUP, LTD.                      | G III APPAREL GROUP LTD                 | CUSIP: 36237H101<br>LEI: 529900O5KABM3R3SFM87 | Long             | EC               | CORP              | US        |    250700 | NS      | $5615680.00   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| SUPERNUS PHARMACEUTICALS, INC.                 | SUPERNUS PHARMACEUTICALS INC            | CUSIP: 868459108<br>LEI: 549300GRM36VBKISYJ58 | Long             | EC               | CORP              | US        |    234000 | NS      | $7375680.00   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Collegium Pharmaceutical, Inc.                 | COLLEGIUM PHARMACEUTICAL INC            | CUSIP: 19459J104<br>LEI: 54930049FXZMTLW8D496 | Long             | EC               | CORP              | US        |    158000 | NS      | $4672060.00   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| AGNC INVESTMENT CORP.                          | AGNC INVESTMENT CORP                    | CUSIP: 00123Q104<br>LEI: 5TRACI5HRMELWV32OF39 | Long             | EC               | CORP              | US        |    807000 | NS      | $7416330.00   | 0.73%             |  |  |  | No            |                  1 | On Loan: —       |
| SABRA HEALTH CARE REIT, INC.                   | SABRA HEALTH CARE REIT INC              | CUSIP: 78573L106<br>LEI: 549300E3BC7GU7TAZ621 | Long             | EC               | CORP              | US        |    460300 | NS      | $8487932.00   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| RYERSON HOLDING CORPORATION                    | RYERSON HOLDING CORP                    | CUSIP: 783754104<br>LEI: 549300JMA41B3ZHOVE45 | Long             | EC               | CORP              | US        |    243600 | NS      | $5254452.00   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| EASTERLY GOVERNMENT PROPERTIES, INC.           | EASTERLY GOVERNMENT PROPERTIES INC      | CUSIP: 27616P301<br>LEI: 549300ERMCEFC6S8HL77 | Long             | EC               | CORP              | US        |    288000 | NS      | $6393600.00   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| PROSPERITY BANCSHARES, INC.                    | PROSPERITY BANCSHARES INC               | CUSIP: 743606105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    125800 | NS      | $8836192.00   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| ARTISAN PARTNERS ASSET MANAGEMENT INC.         | ARTISAN PARTNERS ASSET MA A             | CUSIP: 04316A108<br>LEI: 549300T1FUI6JF63XU51 | Long             | EC               | CORP              | US        |    201200 | NS      | $8919196.00   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| PLEXUS CORP.                                   | PLEXUS CORP                             | CUSIP: 729132100<br>LEI: 549300W7HCBI5YT25I79 | Long             | EC               | CORP              | US        |     56200 | NS      | $7604422.00   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| CNO FINANCIAL GROUP, INC.                      | CNO FINANCIAL GROUP INC                 | CUSIP: 12621E103<br>LEI: 11XPYHB76MPM4Y4P2897 | Long             | EC               | CORP              | US        |    240438 | NS      | $9276098.04   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| STEELCASE INC.                                 | STEELCASE INC CL A                      | CUSIP: 858155203<br>LEI: GIE4CCPBJDI8SMV1OX95 | Long             | EC               | CORP              | US        |    579330 | NS      | $6042411.90   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| NATIONAL FUEL GAS COMPANY                      | NATIONAL FUEL GAS CO                    | CUSIP: 636180101<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | EC               | CORP              | US        |     75200 | NS      | $6370192.00   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| VEECO INSTRUMENTS INC.                         | VEECO INSTRUMENTS INC                   | CUSIP: 922417100<br>LEI: 5493004201F72ADDZW04 | Long             | EC               | CORP              | US        |    256980 | NS      | $5221833.60   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST MERCHANTS CORPORATION                    | FIRST MERCHANTS CORP                    | CUSIP: 320817109<br>LEI: TZTBT0OTGQ2FEK6XMX94 | Long             | EC               | CORP              | US        |    295900 | NS      | $11332970.00  | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| THE GOODYEAR TIRE & RUBBER COMPANY             | GOODYEAR TIRE RUBBER CO THE             | CUSIP: 382550101<br>LEI: 5493002BI0S2ZQUY3437 | Long             | EC               | CORP              | US        |    950686 | NS      | $9858613.82   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| THE MANITOWOC COMPANY, INC.                    | MANITOWOC CO INC                        | CUSIP: 563571405<br>LEI: 2RTSLGQ89VMY18RHX631 | Long             | EC               | CORP              | US        |    247000 | NS      | $2968940.00   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| CARETRUST REIT, INC.                           | CARETRUST REIT INC                      | CUSIP: 14174T107<br>LEI: 5493001NVXE2B9GPLU96 | Long             | EC               | CORP              | US        |    322122 | NS      | $9856933.20   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| TAYLOR MORRISON HOME CORPORATION               | TAYLOR MORRISON HOME CORP               | CUSIP: 87724P106<br>LEI: 5299009UDLLGLKOOJE30 | Long             | EC               | CORP              | US        |    202000 | NS      | $12406840.00  | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST BANCORP                                  | FIRST BANCORP                           | CUSIP: 318910106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    217500 | NS      | $9589575.00   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| VERIS RESIDENTIAL, INC.                        | Veris Residential Inc                   | CUSIP: 554489104<br>LEI: 254900KTVBRYJCQU2J23 | Long             | EC               | CORP              | US        |    496000 | NS      | $7385440.00   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| PERRIGO COMPANY PUBLIC LIMITED COMPANY         | PERRIGO CO PLC                          | CUSIP: G97822103<br>LEI: 549300IFOQS6R1QLY196 | Long             | EC               | CORP              | IE        |    209937 | NS      | $5609516.64   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| TITAN INTERNATIONAL, INC.                      | TITAN INTERNATIONAL INC                 | CUSIP: 88830M102<br>LEI: 254900CXRGBE7C4B5A06 | Long             | EC               | CORP              | US        |    588979 | NS      | $6048814.33   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| INGEVITY CORPORATION                           | INGEVITY CORP                           | CUSIP: 45688C107<br>LEI: 5493009UTFC4B5IMGF87 | Long             | EC               | CORP              | US        |    166525 | NS      | $7175562.25   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| RYDER SYSTEM, INC.                             | RYDER SYSTEM INC                        | CUSIP: 783549108<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | EC               | CORP              | US        |     58300 | NS      | $9269700.00   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| BROADSTONE NET LEASE, INC.                     | BROADSTONE NET LEASE INC                | CUSIP: 11135E203<br>LEI: 549300U8D7PT70B49V21 | Long             | EC               | CORP              | US        |    632000 | NS      | $10143600.00  | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| V2X, INC.                                      | V2X INC                                 | CUSIP: 92242T101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    129500 | NS      | $6287225.00   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| BRIGHTHOUSE FINANCIAL, INC.                    | BRIGHTHOUSE FINANCIAL INC               | CUSIP: 10922N103<br>LEI: 5493003T8SZSHOGGAW52 | Long             | EC               | CORP              | US        |    175000 | NS      | $9409750.00   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| KEMPER CORPORATION                             | KEMPER CORP                             | CUSIP: 488401100<br>LEI: 549300FNI1JKTRY2PV09 | Long             | EC               | CORP              | US        |     99381 | NS      | $6414049.74   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| SUMMIT HOTEL PROPERTIES, INC.                  | SUMMIT HOTEL PROPERTIES INC             | CUSIP: 866082100<br>LEI: 254900OBQWJK6X20LS71 | Long             | EC               | CORP              | US        |    984000 | NS      | $5008560.00   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| ARCBEST CORPORATION                            | ARCBEST CORP                            | CUSIP: 03937C105<br>LEI: 5493006S3KBNE8ZS3J23 | Long             | EC               | CORP              | US        |     83300 | NS      | $6414933.00   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| DIAMONDROCK HOSPITALITY COMPANY                | DIAMONDROCK HOSPITALITY CO              | CUSIP: 252784301<br>LEI: 529900KKD4BPVBUAQ734 | Long             | EC               | CORP              | US        |    834000 | NS      | $6388440.00   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| SURGERY PARTNERS, INC.                         | SURGERY PARTNERS INC                    | CUSIP: 86881A100<br>LEI: 549300LC82HG33S19I03 | Long             | EC               | CORP              | US        |    320299 | NS      | $7120246.77   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| VISTEON CORPORATION                            | VISTEON CORP                            | CUSIP: 92839U206<br>LEI: 549300MOVLYHRW4GGW78 | Long             | EC               | CORP              | US        |     89000 | NS      | $8303700.00   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| ONE GAS, INC.                                  | ONE GAS INC                             | CUSIP: 68235P108<br>LEI: 549300HXDWI0LATTX840 | Long             | EC               | CORP              | US        |    131700 | NS      | $9463962.00   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| VICTORIA'S SECRET & CO.                        | VICTORIA S SECRET CO                    | CUSIP: 926400102<br>LEI: 5493006T3O70U3UWVF17 | Long             | EC               | CORP              | US        |    380900 | NS      | $7054268.00   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| SENSATA TECHNOLOGIES HOLDING PLC               | SENSATA TECHNOLOGIES HOLDING            | CUSIP: G8060N102<br>LEI: 529900MS7KFYCY9MS037 | Long             | EC               | CORP              | GB        |    268000 | NS      | $8069480.00   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| FLUOR CORPORATION.                             | FLUOR CORP                              | CUSIP: 343412102<br>LEI: CQ7WZ4NOFWT7FAE6Q943 | Long             | EC               | CORP              | US        |    118600 | NS      | $6080622.00   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST INTERSTATE BANCSYSTEM, INC.              | FIRST INTERSTATE BANCSYS A              | CUSIP: 32055Y201<br>LEI: 549300WRWYTYX0RCNJ43 | Long             | EC               | CORP              | US        |    367900 | NS      | $10602878.00  | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| TTM TECHNOLOGIES, INC.                         | TTM TECHNOLOGIES                        | CUSIP: 87305R109<br>LEI: 549300SC4BDOIS008048 | Long             | EC               | CORP              | US        |    232900 | NS      | $9506978.00   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| INDEPENDENT BANK CORP.                         | INDEPENDENT BANK CORP                   | CUSIP: 453836108<br>LEI: 549300C5K3W8THR3GE10 | Long             | EC               | CORP              | US        |    160800 | NS      | $10111908.00  | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-30

**Name of Applicant:** Victory Portfolios

**Signature:** Carol Trevino

**Name of Signer:** Carol Trevino

**Title:** Treasurer