# EDGAR Filing Document

**Accession Number:** 0000802716
**File Stem:** 0001752724-23-041326
**Filing Date:** 2023-2
**Character Count:** 26088
**Document Hash:** 5f87084d82eb593d48c55ca1dec67be5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-041326.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001752724-23-041326

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230227

**DATE AS OF CHANGE**: 20230227

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VICTORY PORTFOLIOS
- **CENTRAL INDEX KEY:** 0000802716
- **IRS NUMBER:** 316364605
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04852
- **FILM NUMBER:** 23671180

**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 Tax-Exempt Fund (Series ID: S000053573)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000168378 | Class A      | GUTEX           |
| C000168379 | Class C      | RETCX           |
| C000168380 | Class Y      | RSTYX           |

## 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 Tax-Exempt Fund

- **b. EDGAR series identifier (if any):** S000053573

- **c. LEI of Series:** 549300YS0Y03XX1L0013

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

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

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

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $39756319.72

**Total Liabilities:** $3055877.60

**Net Assets:** $36700442.12

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** -60.55574955 | **1-Year:** -1085.05840749 | **5-Year:** -3303.95407210 | **10-Year:** -8328.92399829 | **30-Year:** -5090.58731420

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** -0.26688448 | **1-Year:** -6.26609055 | **5-Year:** -43.48085802 | **10-Year:** -137.27588136 | **30-Year:** -23.28633609

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000168380 | -1.85%               | 5.09%                | -0.25%               |
| Class ID C000168379 | -1.93%               | 5.02%                | -0.33%               |
| Class ID C000168378 | -1.86%               | 4.95%                | -0.26%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-268453.05              | $-643580.80                                |
| Month 2  | $-91263.80               | $2021598.39                                |
| Month 3  | $981.91                  | $-226795.34                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| PHOENIX ARIZ CIVIC IMPT CORP ARPT REV                     | CITY OF PHOENIX CIVIC IMPROVEMENT CORP            | CUSIP: 71883MPY4<br>LEI: N/A | Long             | DBT              | MUN               | US        |    540000 | PA      | $546908.76    | 1.49%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARDIN CNTY OHIO ECONOMIC DEV FACS REV                    | HARDIN CNTY OH ECON DEV FACILITIES REVENUE        | CUSIP: 412003AB1<br>LEI: N/A | Long             | DBT              | MUN               | US        |    350000 | PA      | $338151.80    | 0.92%             | 2030-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PRIVATE COLLEGES & UNIVS AUTH GA REV                      | PRIVATE COLLEGES UNIVERSITIES AUTHORITY           | CUSIP: 74265L2K3<br>LEI: N/A | Long             | DBT              | MUN               | US        |    500000 | PA      | $522105.00    | 1.42%             | 2051-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FLA PUB FACS REV                          | MIAMI DADE A REF                                  | CUSIP: 59333TEC0<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2090518.00   | 5.70%             | 2033-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACS AUTH REV                             | COLORADO ST HLTH FACS AUTH HOSP REVENUE           | CUSIP: 19648FRW6<br>LEI: N/A | Long             | DBT              | MUN               | US        |    750000 | PA      | $602832.00    | 1.64%             | 2050-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY CENT ARK                                       | UNIV OF CENTRAL ARKANSAS AR REVENUE               | CUSIP: 914115T34<br>LEI: N/A | Long             | DBT              | MUN               | US        |    265000 | PA      | $195908.67    | 0.53%             | 2049-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GAITHERSBURG MD ECONOMIC DEV REV                          | CITY OF GAITHERSBURG MD                           | CUSIP: 363128CY3<br>LEI: N/A | Long             | DBT              | MUN               | US        |    250000 | PA      | $242032.25    | 0.66%             | 2042-01-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| POMPANO BEACH FLA REV                                     | POMPANO BEACH FL REVENUE                          | CUSIP: 732203BE3<br>LEI: N/A | Long             | DBT              | MUN               | US        |    500000 | PA      | $379834.00    | 1.03%             | 2050-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                               | ILLINOIS ST                                       | CUSIP: 452152SU6<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2016976.00   | 5.50%             | 2027-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSN AUTH N Y DEDICATED TAX FD             | METROPOLITAN TRANSPORTATION AUTHORITY OF NY       | CUSIP: 59259N3N1<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1545000 | PA      | $1584485.57   | 4.32%             | 2056-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL TRAN AUTH SALES TAX RCPTS REV                 | CHICAGO TRANSIT AUTH                              | CUSIP: 16772PBG0<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1483538.50   | 4.04%             | 2044-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY MASS BLDG AUTH PROJ REV                        | UNIVERSITY OF MASSACHUSETTS BUILDING AUTHORITY    | CUSIP: 914440TH5<br>LEI: N/A | Long             | DBT              | MUN               | US        |    190000 | PA      | $197655.48    | 0.54%             | 2039-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA SCH DIST                                  | SCHOOL DISTRICT OF PHILADELPHIA THE               | CUSIP: 717883WG3<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1046392.00   | 2.85%             | 2044-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL                                               | CITY OF CHICAGO IL                                | CUSIP: 167486E39<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1021362.00   | 2.78%             | 2049-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UTAH INFRASTRUCTURE AGY TELECOMMUNICATION REV             | UTAH INFRASTRUCTURE AGY TELECOMUNICATION REVENUE  | CUSIP: 917467AJ1<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1016414.00   | 2.77%             | 2040-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| N Y CNTYS TOB TR II                                       | NY CNTYS TOB TR II                                | CUSIP: 62947VAP2<br>LEI: N/A | Long             | DBT              | MUN               | US        |    200000 | PA      | $200102.20    | 0.55%             | 2043-06-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| FRANKLIN CNTY OHIO HEALTH CARE FACS REV                   | FRANKLIN CNTY OH HLTH CARE FACS REVENUE           | CUSIP: 353180KV3<br>LEI: N/A | Long             | DBT              | MUN               | US        |    500000 | PA      | $482269.50    | 1.31%             | 2045-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SCHENECTADY CNTY N Y CAP RESOURCE CORP REV                | SCHENECTADY COUNTY CAPITAL RESOURCE CORP          | CUSIP: 806418BF5<br>LEI: N/A | Long             | DBT              | MUN               | US        |    200000 | PA      | $213850.40    | 0.58%             | 2052-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL WASTEWATER TRANSMISSION REV                   | CHICAGO WSTWTR TRANS                              | CUSIP: 167727WT9<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1033973.00   | 2.82%             | 2034-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HEALTH & EDL FACS AUTH EDL FACS REV           | MISSOURI ST HLTH EDUCTNL FACS AUTH EDUCTNL FACS   | CUSIP: 60636APU1<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1051487.55   | 2.87%             | 2042-12-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| IOWA FIN AUTH REV                                         | IOWA ST FIN AUTH REVENUE                          | CUSIP: 46246K6Y3<br>LEI: N/A | Long             | DBT              | MUN               | US        |    500000 | PA      | $327487.50    | 0.89%             | 2055-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA MED CARE COMMN HEALTH CARE FACS REV        | NORTH CAROLINA MEDICAL CARE COMMISSION            | CUSIP: 65821DXT3<br>LEI: N/A | Long             | DBT              | MUN               | US        |    350000 | PA      | $273870.10    | 0.75%             | 2050-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSN AUTH N Y REV                          | MET TRANSPRTN AUTH NY REVENUE                     | CUSIP: 59261AH83<br>LEI: N/A | Long             | DBT              | MUN               | US        |    500000 | PA      | $400740.00    | 1.09%             | 2049-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BUCKEYE OHIO TOB SETTLEMENT FING AUTH                     | BUCKEYE OH TOBACCO SETTLEMENT FING AUTH           | CUSIP: 118217CZ9<br>LEI: N/A | Long             | DBT              | MUN               | US        |    900000 | PA      | $777960.00    | 2.12%             | 2055-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOGAN ELM OHIO LOC SCH DIST                               | LOGAN ELM OH LOCAL SCH DIST                       | CUSIP: 540890CC2<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1357138.50   | 3.70%             | 2055-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN FIN AUTH LTD OBLIG REV                           | MICHIGAN FINANCE AUTHORITY                        | CUSIP: 594479HL4<br>LEI: N/A | Long             | DBT              | MUN               | US        |    500000 | PA      | $423902.00    | 1.16%             | 2051-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TSASC INC N Y                                             | TSASC INC NY REF SER A                            | CUSIP: 898526FF0<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2020888.00   | 5.51%             | 2041-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA DEV FIN CORP EDL FACS REV                         | FLORIDA DEVELOPMENT FINANCE CORP                  | CUSIP: 34061UFY9<br>LEI: N/A | Long             | DBT              | MUN               | US        |    500000 | PA      | $469510.00    | 1.28%             | 2055-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ST JOHNS CNTY FLA INDL DEV AUTH REV                       | SAINT JOHNS CNTY FL INDL DEV AUTH REVENUE         | CUSIP: 790417AR0<br>LEI: N/A | Long             | DBT              | MUN               | US        |    500000 | PA      | $429936.50    | 1.17%             | 2055-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY MASS BLDG AUTH PROJ REV                        | UNIV OF MASSACHUSETTS MA BLDGAUTH PROJ REVENUE    | CUSIP: 914440TB8<br>LEI: N/A | Long             | DBT              | MUN               | US        |    220000 | PA      | $228864.24    | 0.62%             | 2039-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HEALTH & EDL FACS AUTH REV                   | WISCONSIN HEALTH EDUCATIONAL FACILITIES AUTHORIT  | CUSIP: 97712JED1<br>LEI: N/A | Long             | DBT              | MUN               | US        |    500000 | PA      | $373027.00    | 1.02%             | 2047-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHARTER SCH FIN AUTH CHARTER SCH REV              | UTAH CHARTER SCHOOL FINANCE AUTHORITY             | CUSIP: 91754TS61<br>LEI: N/A | Long             | DBT              | MUN               | US        |    250000 | PA      | $250385.00    | 0.68%             | 2042-06-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| JORDANELLE SPL SVC DIST UTAH SPL ASSMT                    | JORDANELLE UT SPL SVC DIST SPL ASSMNT             | CUSIP: 480797AP4<br>LEI: N/A | Long             | DBT              | MUN               | US        |    368503 | PA      | $369260.64    | 1.01%             | 2030-08-01      | Fixed         | 12.00%                | Yes           |                  2 | On Loan: No      |
| OHIO ST HIGHER EDL FAC COMMN  REV                         | OHIO HIGHER EDUCATIONAL FACILITY COMMISSION       | CUSIP: 67756DJ80<br>LEI: N/A | Long             | DBT              | MUN               | US        |    250000 | PA      | $262626.75    | 0.72%             | 2047-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| HILLSBOROUGH CNTY FLA INDL DEV AUTH HOSP REV              | HILLSBOROUGH CNTY FL INDL DEVAUTH HOSP REVENUE    | CUSIP: 43233AFD3<br>LEI: N/A | Long             | DBT              | MUN               | US        |    500000 | PA      | $421546.00    | 1.15%             | 2050-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| INDIANA FIN AUTH EDL FACS REV                             | INDIANA FINANCE AUTHORITY                         | CUSIP: 45470ECT0<br>LEI: N/A | Long             | DBT              | MUN               | US        |    500000 | PA      | $528779.00    | 1.44%             | 2052-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CALIF CITY & CNTY ARPTS COMMN INTL ARPT REV | SAN FRANCISCO CITY COUNTY AIRPORT COMM SAN FRANC  | CUSIP: 79766DUG2<br>LEI: N/A | Long             | DBT              | MUN               | US        |    500000 | PA      | $424592.00    | 1.16%             | 2052-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSN TR FD AUTH                           | NEW JERSEY TRANSPORTATION TRUST FUND AUTHORITY    | CUSIP: 646136WK3<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $457613.00    | 1.25%             | 2038-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA MED CARE COMMN RETIREMENT FACS REV         | NORTH CAROLINA ST MED CARE COMMISSION RETMNT FACS | CUSIP: 65820YSD9<br>LEI: N/A | Long             | DBT              | MUN               | US        |    500000 | PA      | $377706.50    | 1.03%             | 2050-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GOLD HILL MESA MET DIST NO 2 COLO LTD TAX & SPL REV       | GOLD HILL MESA METROPOLITAN DISTRICT NO 2         | CUSIP: 38060PAN1<br>LEI: N/A | Long             | DBT              | MUN               | US        |    585000 | PA      | $616873.14    | 1.68%             | 2047-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL BRD ED DEDICATED CAP IMPT                     | CHICAGO IL BRD OF EDU DEDICATED CAPITAL IMPT      | CUSIP: 167510AA4<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2275000 | PA      | $2331028.70   | 6.35%             | 2046-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FLA SEAPORT REV                           | COUNTY OF MIAMI DADE SEAPORT DEPARTMENT           | CUSIP: 59335KDL8<br>LEI: N/A | Long             | DBT              | MUN               | US        |    500000 | PA      | $443545.50    | 1.21%             | 2050-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSN TR FD AUTH                           | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH           | CUSIP: 6461365P2<br>LEI: N/A | Long             | DBT              | MUN               | US        |    200000 | PA      | $159026.00    | 0.43%             | 2046-06-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MILITARY INSTALLATION DEV AUTH UTAH TAX ALLOCATION REV    | MILITARY INSTALLATION DEVELOPMENT AUTHORITY       | CUSIP: 599772AB6<br>LEI: N/A | Long             | DBT              | MUN               | US        |    250000 | PA      | $197211.25    | 0.54%             | 2041-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SALES TAX SECURITIZATION CORP ILL                         | SALES TAX SECURITIZATION CORP IL                  | CUSIP: 79467BCH6<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1529199.00   | 4.17%             | 2043-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTH N Y & N J                                       | PORT AUTH NY NJ 178                               | CUSIP: 73358WPZ1<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1013892.00   | 2.76%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL TR AGY FLA EDL FACS REV                           | CAPITAL TRUST AGENCY INC                          | CUSIP: 14054CDF3<br>LEI: N/A | Long             | DBT              | MUN               | US        |    400000 | PA      | $364641.20    | 0.99%             | 2055-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC DEV AUTH REV                          | NEW JERSEY ST ECON DEV BIOMEDICAL RESEARCH        | CUSIP: 64577BSH8<br>LEI: N/A | Long             | DBT              | MUN               | US        |    885000 | PA      | $934126.35    | 2.55%             | 2029-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WYANDOTTE CNTY KANS CITY KANS UNI GOVT SPL OBLIG REV      | WYANDOTTE COUNTY KANSAS CITY UNIFIED GOVERNMENT   | CUSIP: 98267VDL4<br>LEI: N/A | Long             | DBT              | MUN               | US        |    200000 | PA      | $190885.80    | 0.52%             | 2041-03-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| ARKANSAS DEV FIN AUTH HEALTH CARE REV                     | BAPTIST HEALTH OBLIG GRP                          | CUSIP: 04084RBH3<br>LEI: N/A | Long             | DBT              | MUN               | US        |    750000 | PA      | $546525.75    | 1.49%             | 2049-12-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVS NON ST SUPPORTED DEBT          | NEW YORK STATE DORMITORY AUTHORITY                | CUSIP: 64990G3K6<br>LEI: N/A | Long             | DBT              | MUN               | US        |    330000 | PA      | $278929.20    | 0.76%             | 2040-07-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| CHICAGO ILL WASTEWATER TRANSMISSION REV                   | CHICAGO IL WSTWTR TRANSMISSION REVENUE            | CUSIP: 167727YK6<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1011029.00   | 2.75%             | 2047-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY MASS BLDG AUTH PROJ REV                        | UNIVERSITY OF MASSACHUSETTS BUILDING AUTHORITY    | CUSIP: 914440TJ1<br>LEI: N/A | Long             | DBT              | MUN               | US        |    410000 | PA      | $427046.98    | 1.16%             | 2039-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA SCH DIST                                  | PHILADELPHIA PA SCHOOL DISTRICT                   | CUSIP: 717883VF6<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1255964.40   | 3.42%             | 2038-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GUAM PORT AUTH PORT REV                                   | GUAM PORT AUTH PORT                               | CUSIP: 400652AA1<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1010894.00   | 2.75%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TEX TAX INCREMENT REV                           | CITY OF ARLINGTON TX                              | CUSIP: 04184HAP7<br>LEI: N/A | Long             | DBT              | MUN               | US        |    500000 | PA      | $412276.00    | 1.12%             | 2050-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |

### Signature

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

**Name of Applicant:** Victory Portfolios

**Signature:** Allan Shaer

**Name of Signer:** Allan Shaer

**Title:** Treasurer