# EDGAR Filing Document

**Accession Number:** 0000802716
**File Stem:** 0001752724-25-210048
**Filing Date:** 2025-8
**Character Count:** 78239
**Document Hash:** 9ce026dc750cb3b06fe2d564ab96425c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-210048.hdr.sgml**: 20250828

**ACCESSION NUMBER**: 0001752724-25-210048

**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:** 251268219

**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 Trivalent International Fund - Core Equity (Series ID: S000046399)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000144995 | Class A      | MAICX           |
| C000144997 | Class I      | MICIX           |
| C000144998 | Class Y      | MICYX           |
| C000155527 | Class R6     | MAIRX           |

## 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 Trivalent International Fund - Core Equity

- **b. EDGAR series identifier (if any):** S000046399

- **c. LEI of Series:** 549300ZTXG8QP2J0Y703

**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:** $240174383.44

**Total Liabilities:** $1451678.57

**Net Assets:** $238722704.87

**Cash Not Reported:** $2422405.40

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000144998 | 3.10%                | 5.43%                | 4.27%                |
| Class ID C000144995 | 3.21%                | 5.30%                | 4.27%                |
| Class ID C000155527 | 3.17%                | 5.34%                | 4.32%                |
| Class ID C000144997 | 3.19%                | 5.38%                | 4.34%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $4003692.56              | $2149233.01                                |
| Month 2  | $4029071.45              | $6837100.32                                |
| Month 3  | $366314.34               | $9046582.64                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BRITISH LAND COMPANY PUBLIC LIMITED COMPANY(THE)                          | BRITISH LAND CO PLC                           | CUSIP: N/A<br>LEI: RV5B68J2GV3QGMRPW209       | Long             | EC               | CORP              | GB        |    132535 | NS      | $687752.78    | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Titan SA                                                                  | TITAN CEMENT INTERNATIONAL SA                 | CUSIP: N/A<br>LEI: 213800H2CDP9I374WH83       | Long             | EC               | CORP              | BE        |     24774 | NS      | $1121050.00   | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Advanced Info Service Public Company Limited                              | ADVANCED INFO SERVICE NVDR                    | CUSIP: N/A<br>LEI: 529900DU2YW1NO5RMU78       | Long             |  | CORP              | TH        |     74000 | NS      | $634314.41    | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED PLC                                                    | STANDARD CHARTERED PLC                        | CUSIP: N/A<br>LEI: U4LOSYZ7YG4W3S5F2G91       | Long             | EC               | CORP              | GB        |    148527 | NS      | $2457458.30   | 1.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Ferrari N.V.                                                              | FERRARI NV                                    | CUSIP: N/A<br>LEI: 549300RIVY5EX8RCON76       | Long             | EC               | CORP              | NL        |      2101 | NS      | $1029172.03   | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| Siemens Energy AG                                                         | SIEMENS ENERGY AG                             | CUSIP: N/A<br>LEI: 5299005CHJZ14D4FDJ62       | Long             | EC               | CORP              | DE        |     10821 | NS      | $1264607.79   | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| Element Fleet Management Corp.                                            | ELEMENT FINANCIAL CORP                        | CUSIP: 286181201<br>LEI: 5493000PGBS1C22ELQ16 | Long             | EC               | CORP              | CA        |     41942 | NS      | $1050706.24   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| SEMBCORP INDUSTRIES LTD                                                   | SEMBCORP INDUSTRIES LTD                       | CUSIP: N/A<br>LEI: 254900J0FF14U6TPQM96       | Long             | EC               | CORP              | SG        |    244500 | NS      | $1317454.34   | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Arca Continental, S.A.B. de C.V.                                          | ARCA CONTINENTAL SAB DE CV                    | CUSIP: N/A<br>LEI: 254900U2BSJCQHJCXN24       | Long             | EC               | CORP              | MX        |     70190 | NS      | $741986.66    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Santander, S.A.                                                     | BANCO SANTANDER SA                            | CUSIP: N/A<br>LEI: 5493006QMFDDMYWIAM13       | Long             | EC               | CORP              | ES        |    322057 | NS      | $2666575.43   | 1.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Koninklijke KPN N.V.                                                      | KONINKLIJKE KPN NV                            | CUSIP: N/A<br>LEI: 549300YO0JZHAL7FVP81       | Long             | EC               | CORP              | NL        |    204992 | NS      | $999863.00    | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| XIAOMI CORPORATION                                                        | XIAOMI CORP                                   | CUSIP: N/A<br>LEI: 2549001ACVFAZRNMKL32       | Long             | EC               | CORP              | KY        |    101000 | NS      | $777496.09    | 0.33%             |  |  |  | Yes           |                  2 | On Loan: No      |
| KOMATSU LTD.                                                              | KOMATSU LIMITED                               | CUSIP: N/A<br>LEI: 5493004LQ0B4T7QPQV17       | Long             | EC               | CORP              | JP        |     45600 | NS      | $1504662.14   | 0.63%             |  |  |  | No            |                  2 | On Loan: No      |
| EASYJET PLC                                                               | EASYJET PLC                                   | CUSIP: N/A<br>LEI: 2138001S47XKWIB7TH90       | Long             | EC               | CORP              | GB        |    104166 | NS      | $762180.29    | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| NICE LTD                                                                  | NICE LTD                                      | CUSIP: N/A<br>LEI: 254900YTY4EF5Z4W0A51       | Long             | EC               | CORP              | IL        |      4668 | NS      | $792039.36    | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| ASML Holding N.V.                                                         | ASML HOLDING N V                              | CUSIP: N/A<br>LEI: 724500Y6DUVHQD6OXN27       | Long             | EC               | CORP              | NL        |      2296 | NS      | $1839635.61   | 0.77%             |  |  |  | No            |                  2 | On Loan: No      |
| PRADA S.P.A.                                                              | PRADA S P A                                   | CUSIP: N/A<br>LEI: 8156000FE0A2DC5B7852       | Long             | EC               | CORP              | IT        |    204400 | NS      | $1269884.96   | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| ArcelorMittal SA                                                          | ARCELORMITTAL                                 | CUSIP: N/A<br>LEI: 2EULGUTUI56JI9SAL165       | Long             | EC               | CORP              | LU        |     24567 | NS      | $780008.81    | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| PERSISTENT SYSTEMS LIMITED                                                | PERSISTENT SYSTEMS LTD                        | CUSIP: N/A<br>LEI: 3358006QYD77Z66S1J89       | Long             | EC               | CORP              | IN        |     10161 | NS      | $716236.86    | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co., Ltd.                              | TAIWAN SEMICONDUCTOR MANUFACTU                | CUSIP: N/A<br>LEI: 549300KB6NK5SBD14S87       | Long             | EC               | CORP              | TW        |    198000 | NS      | $7241970.23   | 3.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Vista Energy, S.A.B. de C.V.                                              | VISTA OIL GAS SAB DE CV ADR                   | CUSIP: 92837L109<br>LEI: 549300UDOHP7958KNS89 | Long             |  | CORP              | MX        |     21115 | NS      | $1009508.15   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| MatsukiyoCocokara & Co.                                                   | MATSUKIYOCOCOKARA CO                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |     37800 | NS      | $777646.32    | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Galp Energia, SGPS, S.A.                                                  | GALP ENERGIA SGPS SA                          | CUSIP: N/A<br>LEI: 2138003319Y7NM75FG53       | Long             | EC               | CORP              | PT        |     55068 | NS      | $1007938.00   | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| IPSEN SA                                                                  | IPSEN SA                                      | CUSIP: N/A<br>LEI: 549300M6SGDPB4Z94P11       | Long             | EC               | CORP              | FR        |      6111 | NS      | $727836.56    | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| MARKS AND SPENCER GROUP P.L.C.                                            | MARKS SPENCER PLC                             | CUSIP: N/A<br>LEI: 213800EJP14A79ZG1X44       | Long             | EC               | CORP              | GB        |    160828 | NS      | $782611.31    | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| GOODMAN GROUP                                                             | GOODMAN GROUP                                 | CUSIP: N/A<br>LEI: N/A                        | Long             |  | CORP              | AU        |     35176 | NS      | $792846.84    | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| BANQUE DE MONTREAL                                                        | BANK OF MONTREAL                              | CUSIP: 063671101<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | EC               | RF                | CA        |      8562 | NS      | $948950.81    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co., Ltd.                                             | SAMSUNG ELECTRONICS CO LTD                    | CUSIP: N/A<br>LEI: 9884007ER46L6N7EI764       | Long             | EC               | CORP              | KR        |     19536 | NS      | $864105.33    | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| HIKMA PHARMACEUTICALS PUBLIC LIMITED COMPANY                              | HIKMA PHARMACEUTICALS PLC                     | CUSIP: N/A<br>LEI: 549300BNS685UXH4JI75       | Long             | EC               | CORP              | GB        |     34109 | NS      | $930632.31    | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| LES VETEMENTS DE SPORT GILDAN INC.                                        | GILDAN ACTIVEWEAR INC                         | CUSIP: 375916103<br>LEI: 549300SB3IBI34M00Z45 | Long             | EC               | CORP              | CA        |     12333 | NS      | $607773.43    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| FUYAO GLASS INDUSTRY GROUP CO., LTD.                                      | FUYAO GLASS INDUSTRY GROUP CO LTD             | CUSIP: N/A<br>LEI: 549300AS5CSLWETN0P64       | Long             | EC               | CORP              | CN        |     94400 | NS      | $674546.52    | 0.28%             |  |  |  | Yes           |                  2 | On Loan: No      |
| PICC Property and Casualty Company Limited                                | PICC PROPERTY CASUALTY CO LTD                 | CUSIP: N/A<br>LEI: 300300F1000311000017       | Long             | EC               | CORP              | CN        |    734000 | NS      | $1426335.56   | 0.60%             |  |  |  | No            |                  2 | On Loan: No      |
| Aktiebolaget Volvo                                                        | VOLVO AB                                      | CUSIP: 928856301<br>LEI: 549300HGV012CNC8JD22 | Long             | EC               | CORP              | SE        |     36348 | NS      | $1023167.49   | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| Muenchener Rueckversicherungs-Gesellschaft Aktiengesellschaft in Muenchen | MUENCHENER RUECKVERSICHERUNGS GESELLSCHAFT AG | CUSIP: N/A<br>LEI: 529900MUF4C20K50JS49       | Long             | EC               | CORP              | DE        |      2601 | NS      | $1688704.40   | 0.71%             |  |  |  | No            |                  2 | On Loan: No      |
| E.ON SE                                                                   | E ON SE                                       | CUSIP: N/A<br>LEI: Q9MAIUP40P25UFBFG033       | Long             | EC               | CORP              | DE        |     59223 | NS      | $1091082.45   | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| argenx SE                                                                 | ARGENX SE                                     | CUSIP: N/A<br>LEI: 7245009C5FZE6G9ODQ71       | Long             | EC               | CORP              | NL        |      1515 | NS      | $838571.15    | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Euronext N.V.                                                             | EURONEXT NV                                   | CUSIP: N/A<br>LEI: 724500QJ4QSZ3H9QU415       | Long             | EC               | CORP              | NL        |      9277 | NS      | $1589337.16   | 0.67%             |  |  |  | Yes           |                  2 | On Loan: No      |
| MediaTek Inc.                                                             | MEDIATEK INC                                  | CUSIP: N/A<br>LEI: 254900UEGBK1I4DM4E14       | Long             | EC               | CORP              | TW        |     19000 | NS      | $814263.88    | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Iberdrola, S.A.                                                           | IBERDROLA SA                                  | CUSIP: N/A<br>LEI: 5QK37QC7NWOJ8D7WVQ45       | Long             | EC               | CORP              | ES        |     67713 | NS      | $1302499.39   | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Cencosud S.A.                                                             | CENCOSUD SA                                   | CUSIP: N/A<br>LEI: 549300NLTGCFV7482429       | Long             | EC               | CORP              | CL        |    272167 | NS      | $926423.98    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| TOYO SUISAN KAISHA, LTD.                                                  | TOYO SUISAN KAISHA LTD                        | CUSIP: 892306101<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     13500 | NS      | $897398.94    | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| LUKOIL PJSC                                                               | LUKOIL PJSC                                   | CUSIP: 69343P105<br>LEI: N/A                  | Long             |  | CORP              | RU        |      8489 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SK hynix Inc.                                                             | SK HYNIX INC                                  | CUSIP: N/A<br>LEI: 988400XAIK6XISWQV045       | Long             | EC               | CORP              | KR        |      8150 | NS      | $1756565.07   | 0.74%             |  |  |  | No            |                  2 | On Loan: No      |
| Prosus N.V.                                                               | PROSUS NV                                     | CUSIP: N/A<br>LEI: 635400Z5LQ5F9OLVT688       | Long             | EC               | CORP              | NL        |     29382 | NS      | $1648311.07   | 0.69%             |  |  |  | No            |                  2 | On Loan: No      |
| NN Group N.V.                                                             | NN GROUP NV                                   | CUSIP: N/A<br>LEI: 724500OHYNDT9OY6Q215       | Long             | EC               | CORP              | NL        |     14460 | NS      | $962033.43    | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Hong Kong Exchanges and Clearing Limited                                  | HONG KONG EXCHANGES CLEARING LTD              | CUSIP: N/A<br>LEI: 213800YTVSXYQN17BW16       | Long             | EC               | CORP              | HK        |     17100 | NS      | $919779.01    | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| RECORDATI INDUSTRIA CHIMICA E FARMACEUTICA S.P.A.                         | RECORDATI SPA                                 | CUSIP: N/A<br>LEI: 815600FBF92FD3531704       | Long             | EC               | CORP              | IT        |     15398 | NS      | $967718.34    | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| Lundin Mining Corporation                                                 | LUNDIN MINING CORP                            | CUSIP: 550372106<br>LEI: 549300FQDIM6C8HTN269 | Long             | EC               | CORP              | CA        |     95949 | NS      | $1009099.35   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| ELITE MATERIAL CO., LTD.                                                  | ELITE MATERIAL CO LTD                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |     45000 | NS      | $1360972.78   | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| INVESTEC PLC                                                              | INVESTEC PLC                                  | CUSIP: N/A<br>LEI: 2138007Z3U5GWDN3MY22       | Long             | EC               | CORP              | GB        |     88338 | NS      | $661248.32    | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| HCL TECHNOLOGIES LIMITED                                                  | HCL TECHNOLOGIES LTD                          | CUSIP: N/A<br>LEI: 549300C1F8OLYSOQYB65       | Long             | EC               | CORP              | IN        |     27908 | NS      | $562713.19    | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| FAIRFAX FINANCIAL HOLDINGS LIMITED                                        | FAIRFAX FINANCIAL HOLDINGS LTD                | CUSIP: 303901102<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | EC               | CORP              | CA        |      1164 | NS      | $2101286.72   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Giant Biogene Holding Co Ltd                                              | GIANT BIOGENE HOLDING CO LTD                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KY        |     80000 | NS      | $590369.56    | 0.25%             |  |  |  | Yes           |                  2 | On Loan: No      |
| PUBLICIS GROUPE S.A.                                                      | PUBLICIS GROUPE                               | CUSIP: N/A<br>LEI: 2138004KW8BV57III342       | Long             | EC               | CORP              | FR        |     11807 | NS      | $1333369.68   | 0.56%             |  |  |  | No            |                  2 | On Loan: No      |
| DB INSURANCE CO.,LTD                                                      | DB INSURANCE CO LTD                           | CUSIP: N/A<br>LEI: 9884000ZF26VNJBWSJ91       | Long             | EC               | CORP              | KR        |     11609 | NS      | $1059585.88   | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Brookfield Corporation                                                    | BROOKFIELD CORP                               | CUSIP: 11271J107<br>LEI: C6J3FGIWG6MBDGTE8F80 | Long             | EC               | CORP              | CA        |     11937 | NS      | $738873.65    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Hitachi, Ltd.                                                             | HITACHI LTD                                   | CUSIP: N/A<br>LEI: 549300T6IPOCDWLKC615       | Long             | EC               | CORP              | JP        |     43300 | NS      | $1258616.61   | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| RENAULT SA                                                                | RENAULT SA                                    | CUSIP: N/A<br>LEI: 969500F7JLTX36OUI695       | Long             | EC               | CORP              | FR        |     16980 | NS      | $783442.74    | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| SUZUKI MOTOR CORPORATION                                                  | SUZUKI MOTOR CO                               | CUSIP: N/A<br>LEI: 353800D83H0V3ZV1SV24       | Long             | EC               | CORP              | JP        |     86100 | NS      | $1038149.29   | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| ENGIE SA                                                                  | ENGIE                                         | CUSIP: N/A<br>LEI: LAXUQCHT4FH58LRZDY46       | Long             | EC               | CORP              | FR        |     44672 | NS      | $1049783.44   | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| SAUDI AWWAL BANK                                                          | SAUDI AWWAL BANK                              | CUSIP: M8234F111<br>LEI: N/A                  | Long             | EC               | CORP              | SA        |     81646 | NS      | $733429.24    | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Sulzer AG                                                                 | SULZER AG                                     | CUSIP: N/A<br>LEI: 529900NZ6MAST5IJF669       | Long             | EC               | CORP              | CH        |      3797 | NS      | $686472.15    | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Suncor Energy Inc.                                                        | SUNCOR ENERGY INC                             | CUSIP: 867224107<br>LEI: 549300W70ZOQDVLCHY06 | Long             | EC               | CORP              | CA        |     20515 | NS      | $768559.16    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| SCREEN Holdings Co.,Ltd.                                                  | SCREEN HOLDINGS CO LTD                        | CUSIP: N/A<br>LEI: 353800ND89FTQ9XQ0R07       | Long             | EC               | CORP              | JP        |     13300 | NS      | $1081553.88   | 0.45%             |  |  |  | No            |                  2 | On Loan: No      |
| KPJ HEALTHCARE BERHAD                                                     | KPJ HEALTHCARE BERHAD                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | MY        |   1036000 | NS      | $654902.96    | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| AerCap Holdings N.V.                                                      | AERCAP HOLDINGS NV                            | CUSIP: N00985106<br>LEI: 549300SZYINBBLJQU475 | Long             | EC               | CORP              | NL        |      8326 | NS      | $974142.00    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| NATIONAL GRID PLC                                                         | NATIONAL GRID PLC                             | CUSIP: N/A<br>LEI: 8R95QZMKZLJX5Q2XR704       | Long             | EC               | CORP              | GB        |     56902 | NS      | $835093.78    | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| DRAX GROUP PLC                                                            | DRAX GROUP PLC                                | CUSIP: N/A<br>LEI: 549300YPSNTXR4ZHSR98       | Long             | EC               | CORP              | GB        |    115402 | NS      | $1099677.69   | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| CHARTER HALL GROUP                                                        | CHARTER HALL GROUP                            | CUSIP: N/A<br>LEI: N/A                        | Long             |  | CORP              | AU        |     64619 | NS      | $818670.59    | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| KUAISHOU TECHNOLOGY                                                       | KUAISHOU TECHNOLOGY                           | CUSIP: N/A<br>LEI: 300300FCDZBE6UP9ED24       | Long             | EC               | CORP              | KY        |     85700 | NS      | $695699.38    | 0.29%             |  |  |  | Yes           |                  2 | On Loan: No      |
| EIFFAGE SA                                                                | EIFFAGE SA                                    | CUSIP: N/A<br>LEI: 969500OQXKE5WDM9M994       | Long             | EC               | CORP              | FR        |      6076 | NS      | $853650.32    | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Holcim AG                                                                 | HOLCIM LTD                                    | CUSIP: N/A<br>LEI: 529900EHPFPYHV6IQO98       | Long             | EC               | CORP              | CH        |     20267 | NS      | $1505674.03   | 0.63%             |  |  |  | No            |                  2 | On Loan: No      |
| BOC HONG KONG (HOLDINGS) LIMITED                                          | BOC HONG KONG HOLDINGS LTD                    | CUSIP: N/A<br>LEI: 254900JB98W77JDJMW15       | Long             | EC               | CORP              | HK        |    262500 | NS      | $1142762.53   | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| COCA-COLA EUROPACIFIC PARTNERS PLC                                        | COCA COLA EUROPEAN PARTNERS PLC               | CUSIP: G25839104<br>LEI: 549300LTH67W4GWMRF57 | Long             | EC               | CORP              | GB        |      9916 | NS      | $919411.52    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| IBIDEN CO.,LTD.                                                           | IBIDEN CO LTD                                 | CUSIP: N/A<br>LEI: 52990051DBFIQEY37C91       | Long             | EC               | CORP              | JP        |     18300 | NS      | $803444.26    | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| QANTAS AIRWAYS LIMITED                                                    | QANTAS AIRWAYS LIMITED                        | CUSIP: N/A<br>LEI: YLXNW6TI6QSK1H8H0N82       | Long             | EC               | CORP              | AU        |    165562 | NS      | $1169355.77   | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| DUNDEE PRECIOUS METALS INC.                                               | DUNDEE PRECIOUS METALS INC                    | CUSIP: 265269209<br>LEI: 549300LATVTU0EIUMD45 | Long             | EC               | CORP              | CA        |    102727 | NS      | $1650754.08   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| CHINA CONSTRUCTION BANK CORPORATION                                       | CHINA CONSTRUCTION BANK CORP                  | CUSIP: N/A<br>LEI: 5493001KQW6DM7KEDR62       | Long             | EC               | CORP              | CN        |   1104000 | NS      | $1117224.36   | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| RELX PUBLIC LIMITED COMPANY                                               | RELX PLC                                      | CUSIP: N/A<br>LEI: 549300WSX3VBUFFJOO66       | Long             | EC               | CORP              | GB        |     15133 | NS      | $820024.72    | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| 3I GROUP PLC                                                              | 3I GROUP PLC                                  | CUSIP: N/A<br>LEI: 35GDVHRBMFE7NWATNM84       | Long             | EC               | CORP              | GB        |     38913 | NS      | $2201772.90   | 0.92%             |  |  |  | No            |                  2 | On Loan: No      |
| Emaar Development PJSC                                                    | EMAAR DEVELOPMENT PJSC                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AE        |    331994 | NS      | $1222398.80   | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| SAP SE                                                                    | SAP SE                                        | CUSIP: N/A<br>LEI: 529900D6BF99LW9R2E68       | Long             | EC               | CORP              | DE        |      7971 | NS      | $2437059.16   | 1.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Sumitomo Mitsui Financial Group, Inc.                                     | SUMITOMO MITSUI FINANCIAL GROUP INC           | CUSIP: N/A<br>LEI: 35380028MYWPB6AUO129       | Long             | EC               | CORP              | JP        |     93175 | NS      | $2346479.80   | 0.98%             |  |  |  | No            |                  2 | On Loan: No      |
| NORTHERN STAR RESOURCES LTD                                               | NORTHERN STAR RESOURCES LTD                   | CUSIP: N/A<br>LEI: 254900XFXCRYYZAX6M78       | Long             | EC               | CORP              | AU        |     95039 | NS      | $1173664.52   | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| NEC Corporation                                                           | NEC CORP                                      | CUSIP: N/A<br>LEI: 5493000QYMPFRTEY4K28       | Long             | EC               | CORP              | JP        |     88400 | NS      | $2579342.38   | 1.08%             |  |  |  | No            |                  2 | On Loan: No      |
| ASICS Corporation                                                         | ASICS CORP                                    | CUSIP: N/A<br>LEI: 3538002LJMRZ83SU0B85       | Long             | EC               | CORP              | JP        |     44900 | NS      | $1145085.64   | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| Sumitomo Electric Industries, Ltd.                                        | SUMITOMO ELECTRIC INDUSTRIES LTD              | CUSIP: N/A<br>LEI: 5493005SP87FL5TOS202       | Long             | EC               | CORP              | JP        |     51400 | NS      | $1102305.21   | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| ZYDUS LIFESCIENCES LIMITED                                                | CADILA HEALTHCARE LTD                         | CUSIP: N/A<br>LEI: 335800R9O14ORBXLPN13       | Long             | EC               | CORP              | IN        |     46523 | NS      | $537393.00    | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Siemens Aktiengesellschaft                                                | SIEMENS AG                                    | CUSIP: N/A<br>LEI: W38RGI023J3WT1HWRP32       | Long             | EC               | CORP              | DE        |     13594 | NS      | $3491288.11   | 1.46%             |  |  |  | No            |                  2 | On Loan: No      |
| SBERBANK OF RUSSIA PJSC                                                   | SBERBANK OF RUSSIA PJSC                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | RU        |    220230 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| BARCLAYS PLC                                                              | BARCLAYS PLC                                  | CUSIP: N/A<br>LEI: 213800LBQA1Y9L22JB70       | Long             | EC               | RF                | GB        |    285712 | NS      | $1319969.19   | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| OBAYASHI CORPORATION                                                      | OBAYASHI CORPORATION                          | CUSIP: N/A<br>LEI: 529900YT4O5S0LCXWD54       | Long             | EC               | CORP              | JP        |     56000 | NS      | $848590.23    | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Yokogawa Electric Corporation                                             | YOKOGAWA ELECTRIC CORP                        | CUSIP: N/A<br>LEI: 529900MV0U7C9WWF4L22       | Long             | EC               | CORP              | JP        |     41600 | NS      | $1111411.83   | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Zijin Mining Group Company Limited                                        | ZIJIN MINING GROUP CO LTD                     | CUSIP: N/A<br>LEI: 836800JRNL2393Z2I561       | Long             | EC               | CORP              | CN        |    372000 | NS      | $956744.06    | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| iShares Core MSCI EAFE ETF                                                | ISHARES CORE MSCI EAFE ETF                    | CUSIP: 46432F842<br>LEI: N/A                  | Long             |  | RF                | US        |     27882 | NS      | $2327589.36   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Mizuho Financial Group, Inc.                                              | MIZUHO FINANCIAL GROUP INC                    | CUSIP: N/A<br>LEI: 353800CI5L6DDAN5XZ33       | Long             | EC               | CORP              | JP        |     58510 | NS      | $1624402.41   | 0.68%             |  |  |  | No            |                  2 | On Loan: No      |
| RELIANCE INDUSTRIES LIMITED                                               | RELIANCE INDUSTRIES LTD                       | CUSIP: N/A<br>LEI: 5493003UOETFYRONLG31       | Long             | EC               | CORP              | IN        |     97529 | NS      | $1707170.56   | 0.72%             |  |  |  | No            |                  2 | On Loan: No      |
| Alibaba Group Holding Limited                                             | ALIBABA GROUP HOLDING LTD                     | CUSIP: N/A<br>LEI: 5493001NTNQJDH60PM02       | Long             | EC               | CORP              | KY        |    190800 | NS      | $2701039.33   | 1.13%             |  |  |  | No            |                  2 | On Loan: No      |
| DAIWA HOUSE INDUSTRY CO.,LTD.                                             | DAIWA HOUSE INDUSTRY CO LTD                   | CUSIP: N/A<br>LEI: 353800K9WXR9XRZJZI46       | Long             | EC               | CORP              | JP        |     24000 | NS      | $824792.59    | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| BYD COMPANY LIMITED                                                       | BYD CO LTD                                    | CUSIP: N/A<br>LEI: 5299005557VL7ULJ7A69       | Long             | EC               | CORP              | CN        |     73000 | NS      | $1136647.72   | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| SHELL PLC                                                                 | SHELL PLC                                     | CUSIP: N/A<br>LEI: 21380068P1DRHMJ8KU70       | Long             | EC               | CORP              | GB        |     33763 | NS      | $1177761.37   | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| HANWHA AEROSPACE CO., LTD.                                                | HANWHA AEROSPACE CO LTD                       | CUSIP: N/A<br>LEI: 9884001NSUA8FQKQWR25       | Long             | EC               | CORP              | KR        |      2816 | NS      | $1767508.68   | 0.74%             |  |  |  | No            |                  2 | On Loan: No      |
| AGRICULTURAL BANK OF CHINA LIMITED                                        | AGRICULTURAL BANK OF CHINA LTD                | CUSIP: N/A<br>LEI: 549300E7TSGLCOVSY746       | Long             | EC               | CORP              | CN        |   1355000 | NS      | $968337.34    | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| EQUINOR ASA                                                               | EQUINOR ASA                                   | CUSIP: N/A<br>LEI: OW6OFBNCKXC4US5C7523       | Long             | EC               | CORP              | NO        |     21296 | NS      | $538050.46    | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| TOSOH CORPORATION                                                         | TOSOH CORP                                    | CUSIP: N/A<br>LEI: 529900YSLFVJF2MDBX02       | Long             | EC               | CORP              | JP        |     53100 | NS      | $777129.88    | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Fresenius Medical Care AG                                                 | FRESENIUS MEDICAL CARE AG                     | CUSIP: N/A<br>LEI: 549300CP8NY40UP89Q40       | Long             | EC               | CORP              | DE        |     13426 | NS      | $771294.74    | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| SHOPIFY INC.                                                              | SHOPIFY INC                                   | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Long             | EC               | CORP              | CA        |      5589 | NS      | $644688.85    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Etihad Etisalat Company SJSC                                              | ETIHAD ETISALAT CO                            | CUSIP: N/A<br>LEI: 2549007BA9ABDE3HVK79       | Long             | EC               | CORP              | SA        |     39725 | NS      | $628308.62    | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Henkel AG & Co. KGaA                                                      | HENKEL AG CO KGAA                             | CUSIP: N/A<br>LEI: 549300VZCL1HTH4O4Y49       | Long             | EC               | CORP              | DE        |     13467 | NS      | $1058150.65   | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| BANKINTER, S.A.                                                           | BANKINTER SA                                  | CUSIP: N/A<br>LEI: VWMYAEQSTOPNV0SUGU82       | Long             | EC               | CORP              | ES        |     83320 | NS      | $1087560.35   | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Coca-Cola HBC AG                                                          | COCA COLA HBC AG                              | CUSIP: N/A<br>LEI: 549300EFP3TNG7JGVE49       | Long             | EC               | CORP              | CH        |     28883 | NS      | $1508649.35   | 0.63%             |  |  |  | No            |                  2 | On Loan: No      |
| MAHINDRA AND MAHINDRA LIMITED                                             | MAHINDRA MAHINDRA LTD                         | CUSIP: N/A<br>LEI: 3358003B573EV4KB4Z02       | Long             | EC               | CORP              | IN        |     19481 | NS      | $723122.40    | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Fujikura Ltd.                                                             | FUJIKURA LTD                                  | CUSIP: N/A<br>LEI: 353800PSDZ8VRCKVPL51       | Long             | EC               | CORP              | JP        |     20000 | NS      | $1052218.10   | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| REPLY S.P.A.                                                              | REPLY SPA                                     | CUSIP: N/A<br>LEI: 815600DAEFB0388F3521       | Long             | EC               | CORP              | IT        |      4937 | NS      | $853103.89    | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| PRIO S.A.                                                                 | PETRO RIO SA                                  | CUSIP: N/A<br>LEI: 549300IQAZIWK5RVZX23       | Long             | EC               | CORP              | BR        |     89300 | NS      | $696949.95    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG                                                               | NOVARTIS AG                                   | CUSIP: N/A<br>LEI: 5493007HIVTX6SY6XD66       | Long             | EC               | CORP              | CH        |     30922 | NS      | $3754878.92   | 1.57%             |  |  |  | No            |                  2 | On Loan: No      |
| SPIE SA                                                                   | SPIE SA                                       | CUSIP: N/A<br>LEI: 969500TJNS5GSFWJ8X85       | Long             | EC               | CORP              | FR        |     16901 | NS      | $950230.79    | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Softcat PLC                                                               | SOFTCAT PLC                                   | CUSIP: N/A<br>LEI: 213800N42YZLR9GLVC42       | Long             | EC               | CORP              | GB        |     31528 | NS      | $742879.97    | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CORPORATION                                                  | TOYOTA MOTOR CORP                             | CUSIP: N/A<br>LEI: 5493006W3QUS5LMH6R84       | Long             | EC               | CORP              | JP        |     41600 | NS      | $716550.81    | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Evonik Industries AG                                                      | EVONIK INDUSTRIES AG                          | CUSIP: N/A<br>LEI: 41GUOJQTALQHLF39XJ34       | Long             | EC               | CORP              | DE        |     55154 | NS      | $1139258.41   | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| ICICI BANK LIMITED                                                        | ICICI BANK LTD                                | CUSIP: N/A<br>LEI: R7RX8ER1V4666J8D1I38       | Long             | EC               | CORP              | IN        |    101724 | NS      | $1719209.70   | 0.72%             |  |  |  | No            |                  2 | On Loan: No      |
| BANK OF CHINA LIMITED                                                     | BANK OF CHINA LTD                             | CUSIP: N/A<br>LEI: 54930053HGCFWVHYZX42       | Long             | EC               | CORP              | CN        |   1891275 | NS      | $1101063.07   | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Ressources Teck Limitee                                                   | TECK RESOURCES LTD                            | CUSIP: 878742204<br>LEI: T8KI5SQ2JRWHL7XY0E11 | Long             | EC               | CORP              | CA        |     17835 | NS      | $721337.73    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| ANZ GROUP HOLDINGS LIMITED                                                | ANZ GROUP HOLDINGS LTD                        | CUSIP: N/A<br>LEI: 9845005D9C6BAA10BK72       | Long             | EC               | CORP              | AU        |     83927 | NS      | $1609079.49   | 0.67%             |  |  |  | No            |                  2 | On Loan: No      |
| QBE INSURANCE GROUP LIMITED                                               | QBE INSURANCE GROUP LTD                       | CUSIP: N/A<br>LEI: 549300D2FBW76FPUSG65       | Long             | EC               | CORP              | AU        |     61681 | NS      | $949614.43    | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Tencent Holdings Limited                                                  | TENCENT HOLDINGS LTD                          | CUSIP: N/A<br>LEI: 254900N4SLUMW4XUYY11       | Long             | EC               | CORP              | KY        |     50700 | NS      | $3266989.34   | 1.37%             |  |  |  | No            |                  2 | On Loan: No      |
| SEA LIMITED                                                               | SEA LTD ADR                                   | CUSIP: 81141R100<br>LEI: 529900OM6JLLW44YKI15 | Long             |  | CORP              | KY        |      8778 | NS      | $1403953.32   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Tokio Marine Holdings, Inc.                                               | TOKIO MARINE HOLDINGS INC                     | CUSIP: N/A<br>LEI: 5299009QN2NZ191KLS29       | Long             | EC               | CORP              | JP        |     29700 | NS      | $1258847.70   | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| TINGYI (CAYMAN ISLANDS) HOLDING CORP.                                     | TINGYI CAYMAN ISLANDS HOLDING CORP            | CUSIP: N/A<br>LEI: 5299009MPI9B60VN4P25       | Long             | EC               | CORP              | KY        |    352000 | NS      | $516759.58    | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| HINDALCO INDUSTRIES LIMITED                                               | HINDALCO INDUSTRIES LTD                       | CUSIP: N/A<br>LEI: 335800KXLE5NO5B4GF90       | Long             | EC               | CORP              | IN        |    124598 | NS      | $1008110.11   | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| AIRTAC INTERNATIONAL GROUP                                                | AIRTAC INTERNATIONAL GROUP                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KY        |     26000 | NS      | $774232.37    | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| KIA CORPORATION                                                           | KIA CORP                                      | CUSIP: N/A<br>LEI: 988400V8MJK9N7OI5X76       | Long             | EC               | CORP              | KR        |      9149 | NS      | $654796.40    | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Sandoz Group AG                                                           | SANDOZ GROUP AG                               | CUSIP: N/A<br>LEI: 5493000JWK6XWFEUD320       | Long             | EC               | CORP              | CH        |     16749 | NS      | $918306.86    | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| ANHEUSER-BUSCH INBEV SA                                                   | ANHEUSER BUSCH INBEV SA NV                    | CUSIP: N/A<br>LEI: 5493008H3828EMEXB082       | Long             | EC               | CORP              | BE        |     25443 | NS      | $1750265.81   | 0.73%             |  |  |  | No            |                  2 | On Loan: No      |
| DBS GROUP HOLDINGS LTD                                                    | DBS GROUP HOLDINGS LTD                        | CUSIP: N/A<br>LEI: 5493007FKT78NKPM5V55       | Long             | EC               | CORP              | SG        |     35780 | NS      | $1263405.45   | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| NATIONAL BANK OF GREECE S.A.                                              | NATIONAL BANK OF GREECE SA                    | CUSIP: N/A<br>LEI: 5UMCZOEYKCVFAW8ZLO05       | Long             | EC               | CORP              | GR        |     77449 | NS      | $987407.25    | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| Otsuka Holdings Co., Ltd.                                                 | OTSUKA HOLDINGS CO LTD                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |     22900 | NS      | $1135484.02   | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| DISCO CORPORATION                                                         | DISCO CORP                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |      3000 | NS      | $888822.62    | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| RIO TINTO LIMITED                                                         | RIO TINTO LIMITED                             | CUSIP: N/A<br>LEI: 529900X2VMAQT2PE0V24       | Long             | EC               | CORP              | AU        |     14643 | NS      | $1036342.55   | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| POWER FINANCE CORPORATION LIMITED                                         | POWER FINANCE CORP LTD                        | CUSIP: N/A<br>LEI: 3358003Q6D9LIJJZ1614       | Long             | EC               |  | IN        |    161437 | NS      | $805474.33    | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| WHITECAP RESOURCES INC.                                                   | WHITECAP RESOURCES INC                        | CUSIP: 96467A200<br>LEI: 894500UA4G4BTB67II45 | Long             | EC               | CORP              | CA        |    108765 | NS      | $730904.63    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP PARIBAS SA                                                            | BNP PARIBAS                                   | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | Long             | EC               | CORP              | FR        |     15456 | NS      | $1386253.16   | 0.58%             |  |  |  | No            |                  2 | On Loan: No      |
| Essity Aktiebolag (publ)                                                  | ESSITY AKTIEBOLAG B                           | CUSIP: N/A<br>LEI: 549300G8E6YUVJ1DA153       | Long             | EC               | CORP              | SE        |     37733 | NS      | $1045214.42   | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| QUANTA COMPUTER INC.                                                      | QUANTA COMPUTER INC                           | CUSIP: N/A<br>LEI: 529900DE8BIV3XOXIK04       | Long             | EC               | CORP              | TW        |     90000 | NS      | $846718.26    | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| EQUATORIAL S.A.                                                           | EQUATORIAL ENERGIA SA ORD                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        |     88300 | NS      | $584473.28    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Bradesco S.A.                                                       | BANCO BRADESCO SA                             | CUSIP: N/A<br>LEI: 549300CTUU1RFXHQJE44       | Long             | EC               | CORP              | BR        |    277000 | NS      | $858120.27    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| KLEPIERRE SA                                                              | KLEPIERRE SA                                  | CUSIP: N/A<br>LEI: 969500PB4U31KEFHZ621       | Long             | EC               | CORP              | FR        |     22187 | NS      | $877146.65    | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| CTBC Financial Holding Co., Ltd.                                          | CTBC FINANCIAL HOLDING CO LTD                 | CUSIP: N/A<br>LEI: 549300IWDYIFW6JXM387       | Long             | EC               | CORP              | TW        |    574000 | NS      | $859213.12    | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Asahi Group Holdings, Ltd.                                                | ASAHI BREWERIES LTD                           | CUSIP: N/A<br>LEI: 353800KAJ02XNHLCJW79       | Long             | EC               | CORP              | JP        |     62700 | NS      | $838206.77    | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| ORIX CORPORATION                                                          | ORIX CORP                                     | CUSIP: N/A<br>LEI: 35380016EMHNBOVYE123       | Long             | EC               | CORP              | JP        |     36100 | NS      | $814741.18    | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| POWER GRID CORPORATION OF INDIA LIMITED                                   | POWER GRID CORP OF INDIA LTD                  | CUSIP: N/A<br>LEI: 3358009SHWZ3DZEQ4Z56       | Long             | EC               |  | IN        |    293150 | NS      | $1024661.90   | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| WIWYNN CORP                                                               | WIWYNN CORP                                   | CUSIP: Y9673D101<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     11000 | NS      | $955347.39    | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| BIOMERIEUX SA                                                             | BIOMERIEUX                                    | CUSIP: N/A<br>LEI: 549300AK8Y0LBIQ4T071       | Long             | EC               | CORP              | FR        |      7590 | NS      | $1049690.32   | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| UNILEVER PLC                                                              | UNILEVER PLC                                  | CUSIP: N/A<br>LEI: 549300MKFYEKVRWML317       | Long             | EC               | CORP              | GB        |     24469 | NS      | $1492979.50   | 0.63%             |  |  |  | No            |                  2 | On Loan: No      |
| ROLLS-ROYCE HOLDINGS PLC                                                  | ROLLS ROYCE HOLDINGS PLC                      | CUSIP: N/A<br>LEI: 213800EC7997ZBLZJH69       | Long             | EC               | CORP              | GB        |    173636 | NS      | $2300719.34   | 0.96%             |  |  |  | No            |                  2 | On Loan: No      |
| KONAMI GROUP CORPORATION                                                  | KONAMI GROUP CORP                             | CUSIP: N/A<br>LEI: 353800FC4A5QCMIZFV94       | Long             | EC               | CORP              | JP        |     11500 | NS      | $1818358.59   | 0.76%             |  |  |  | No            |                  2 | On Loan: No      |
| NIPPON STEEL CORPORATION                                                  | NIPPON STEEL CORP                             | CUSIP: N/A<br>LEI: 35380065QWQ4U2V3PA33       | Long             | EC               | CORP              | JP        |     37400 | NS      | $707379.91    | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| BRAMBLES LIMITED                                                          | BRAMBLES LTD                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |     63970 | NS      | $987712.11    | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| KUNLUN ENERGY COMPANY LIMITED                                             | KUNLUN ENERGY CO LTD                          | CUSIP: N/A<br>LEI: 5299007GRIKP15GM4927       | Long             | EC               | CORP              | BM        |    636000 | NS      | $618206.01    | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| ASTRAZENECA PLC                                                           | ASTRAZENECA PLC                               | CUSIP: N/A<br>LEI: PY6ZZQWO2IZFZC3IOL08       | Long             | EC               | CORP              | GB        |     17554 | NS      | $2442532.44   | 1.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Amrize AG                                                                 | AMRIZE LTD                                    | CUSIP: N/A<br>LEI: 529900SLCCO6K43P8146       | Long             | EC               | CORP              | CH        |     20267 | NS      | $1011433.44   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| BANQUE ROYALE DU CANADA                                                   | ROYAL BANK OF CANADA                          | CUSIP: 780087102<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | EC               | CORP              | CA        |     10629 | NS      | $1400989.01   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Bora Pharmaceuticals Co., LTD.                                            | BORA PHARMACEUTICALS CO LTD                   | CUSIP: N/A<br>LEI: 254900MK7O5C2UX1SY03       | Long             | EC               | CORP              | TW        |     26000 | NS      | $740305.29    | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Technip Energies N.V.                                                     | TECHNIP ENERGIES NV                           | CUSIP: N/A<br>LEI: 724500FLODI49NSCIP70       | Long             | EC               | CORP              | NL        |     28457 | NS      | $1197106.24   | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| FDJ UNITED                                                                | FDJ UNITED                                    | CUSIP: N/A<br>LEI: 969500R4CLSQFTYYI535       | Long             | EC               | CORP              | FR        |     19558 | NS      | $767365.12    | 0.32%             |  |  |  | Yes           |                  2 | On Loan: No      |
| BANK OF IRELAND GROUP PUBLIC LIMITED COMPANY                              | BANK OF IRELAND GROUP PLC                     | CUSIP: N/A<br>LEI: 635400C8EK6DRI12LJ39       | Long             | EC               | CORP              | IE        |     65502 | NS      | $933292.95    | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| NIPPON LIFE INDIA ASSET MANAGEMENT LIMITED                                | NIPPON LIFE INDIA ASSET MANAGEMENT LTD        | CUSIP: N/A<br>LEI: 335800ZQXV958RZSRU89       | Long             | EC               | CORP              | IN        |     91823 | NS      | $857039.96    | 0.36%             |  |  |  | Yes           |                  2 | On Loan: No      |
| CELESTICA INC.                                                            | CELESTICA INC                                 | CUSIP: 15101Q207<br>LEI: 549300J3CG5T6RZWLN53 | Long             | EC               | CORP              | CA        |      6412 | NS      | $1001922.09   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Pandora A/S                                                               | PANDORA A S                                   | CUSIP: N/A<br>LEI: 5299007OWYZ6I1E46843       | Long             | EC               | CORP              | DK        |      7861 | NS      | $1385278.45   | 0.58%             |  |  |  | No            |                  2 | On Loan: No      |
| BIRKENSTOCK HOLDING PLC                                                   | BIRKENSTOCK HOLDING PLC                       | CUSIP: M2029K104<br>LEI: 529900CQ8LQKQ7LIT631 | Long             | EC               | CORP              | JE        |     16339 | NS      | $803552.02    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Swedbank AB                                                               | SWEDBANK AB A SHARES                          | CUSIP: N/A<br>LEI: M312WZV08Y7LYUC71685       | Long             | EC               | CORP              | SE        |     35627 | NS      | $944017.24    | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Weichai Power Co., Ltd.                                                   | WEICHAI POWER CO LTD                          | CUSIP: N/A<br>LEI: 529900OKTPKBG85F9502       | Long             | EC               | CORP              | CN        |    353000 | NS      | $718737.24    | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| ABB Ltd                                                                   | ABB LIMITED                                   | CUSIP: N/A<br>LEI: 5493000LKVGOO9PELI61       | Long             | EC               | CORP              | CH        |     20462 | NS      | $1226804.72   | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| JD.COM, INC.                                                              | JD COM INC                                    | CUSIP: N/A<br>LEI: 549300HVTWB0GJZ16V92       | Long             | EC               | CORP              | KY        |     67200 | NS      | $1097565.42   | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| iShares Core MSCI Emerging Markets ETF                                    | ISHARES CORE MSCI EMERGING                    | CUSIP: 46434G103<br>LEI: 5493007C24Z3ZDJ0VD06 | Long             |  | RF                | US        |     15779 | NS      | $947213.37    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| SANLAM LIMITED                                                            | SANLAM LTD                                    | CUSIP: N/A<br>LEI: 37890014418406D9FC23       | Long             | EC               | CORP              | ZA        |    122054 | NS      | $611708.73    | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Allianz SE                                                                | ALLIANZ SE                                    | CUSIP: N/A<br>LEI: 529900K9B0N5BT694847       | Long             | EC               | CORP              | DE        |      2644 | NS      | $1072887.03   | 0.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Zurich Insurance Group AG                                                 | ZURICH INSURANCE GROUP AG                     | CUSIP: N/A<br>LEI: 529900QVNRBND50TXP03       | Long             | EC               | CORP              | CH        |      2729 | NS      | $1910386.32   | 0.80%             |  |  |  | No            |                  2 | On Loan: No      |
| FINNING INTERNATIONAL INC.                                                | FINNING INTERNATIONAL INC                     | CUSIP: 318071404<br>LEI: 549300QLDCP11KB6XW55 | Long             | EC               | CORP              | CA        |     22343 | NS      | $955353.60    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| COMPAGNIE DE SAINT-GOBAIN SA                                              | COMPAGNIE DE SAINT GOBAIN                     | CUSIP: N/A<br>LEI: NFONVGN05Z0FMN5PEC35       | Long             | EC               | CORP              | FR        |     15853 | NS      | $1862097.90   | 0.78%             |  |  |  | No            |                  2 | On Loan: No      |
| Sony Group Corporation                                                    | SONY GROUP CORP                               | CUSIP: N/A<br>LEI: 529900R5WX9N2OI2N910       | Long             | EC               | CORP              | JP        |     85900 | NS      | $2233658.91   | 0.94%             |  |  |  | No            |                  2 | On Loan: No      |
| AXA SA                                                                    | AXA SA                                        | CUSIP: N/A<br>LEI: F5WCUMTUM4RKZ1MAIE39       | Long             | EC               | CORP              | FR        |     20217 | NS      | $992630.19    | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| HARBOUR ENERGY PLC                                                        | HARBOUR ENERGY PLC                            | CUSIP: N/A<br>LEI: 213800YPC42DYBKVPF97       | Long             | EC               | CORP              | GB        |    275794 | NS      | $739189.51    | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Roche Holding AG                                                          | ROCHE HOLDING AG                              | CUSIP: N/A<br>LEI: 549300U41AUUVOAAOB37       | Long             | EC               | CORP              | CH        |      3674 | NS      | $1199795.07   | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Hana Financial Group Inc.                                                 | HANA FINANCIAL GROUP INC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |     27015 | NS      | $1721183.57   | 0.72%             |  |  |  | No            |                  2 | On Loan: No      |
| SINGAPORE TECHNOLOGIES ENGINEERING LTD                                    | SINGAPORE TECHNOLOGIES ENGINEERING LTD        | CUSIP: N/A<br>LEI: 254900OEXGGWCR24DG90       | Long             | EC               | CORP              | SG        |    173200 | NS      | $1062258.07   | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Koninklijke Ahold Delhaize N.V.                                           | KONINKLIJKE AHOLD DELHAIZE NV                 | CUSIP: N/A<br>LEI: 724500C9GNBV20UYRX36       | Long             | EC               | CORP              | NL        |     29091 | NS      | $1214872.95   | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| OBEROI REALTY LIMITED                                                     | OBEROI REALTY LTD                             | CUSIP: N/A<br>LEI: 335800TCKG1XQXN51L44       | Long             | EC               | CORP              | IN        |     25986 | NS      | $577809.68    | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| ARISTOCRAT LEISURE LIMITED                                                | ARISTOCRAT LEISURE LTD                        | CUSIP: N/A<br>LEI: 529900TE2HO3OZKYKC27       | Long             | EC               | CORP              | AU        |     22523 | NS      | $964770.48    | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Repsol S.A.                                                               | REPSOL SA                                     | CUSIP: N/A<br>LEI: BSYCX13Y0NOTV14V9N85       | Long             | EC               | CORP              | ES        |     63061 | NS      | $922238.16    | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Headwater Exploration Inc.                                                | HEADWATER EXPLORATION INC                     | CUSIP: 422096107<br>LEI: 549300XIU4JQ0GKLRG88 | Long             | EC               | CORP              | CA        |    132597 | NS      | $655389.11    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| SAMSUNG E&A CO.,LTD                                                       | SAMSUNG E A CO LTD                            | CUSIP: N/A<br>LEI: 988400HDAY5KIVHGZ188       | Long             | EC               | CORP              | KR        |     32051 | NS      | $523386.69    | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Central Japan Railway Company                                             | CENTRAL JAPAN RAILWAY CO                      | CUSIP: N/A<br>LEI: 353800YAR3OVUITHTG64       | Long             | EC               | CORP              | JP        |     28000 | NS      | $625993.62    | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Shionogi & Co., Ltd.                                                      | SHIONOGI CO LTD                               | CUSIP: N/A<br>LEI: 35380049VXDTHZI3DY35       | Long             | EC               | CORP              | JP        |     66000 | NS      | $1188273.95   | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| ARKEMA SA                                                                 | ARKEMA SA                                     | CUSIP: N/A<br>LEI: 9695000EHMS84KKP2785       | Long             | EC               | CORP              | FR        |      9319 | NS      | $688060.73    | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| ITOCHU Corporation                                                        | ITOCHU CORPORATION                            | CUSIP: N/A<br>LEI: J48DJYXDTLHM30UMYI18       | Long             | EC               | CORP              | JP        |     35900 | NS      | $1880098.88   | 0.79%             |  |  |  | No            |                  2 | On Loan: No      |
| BANQUE CANADIENNE IMPERIALE DE COMMERCE                                   | CANADIAN IMPERIAL BANK OF COMM                | CUSIP: 136069101<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | EC               | CORP              | CA        |     19831 | NS      | $1407802.92   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| SCHNEIDER ELECTRIC SE                                                     | SCHNEIDER ELECTRIC SA                         | CUSIP: N/A<br>LEI: 969500A1YF1XUYYXS284       | Long             | EC               | CORP              | FR        |      9256 | NS      | $2484780.48   | 1.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Gentera, S.A.B. de C.V.                                                   | GENTERA SAB DE CV                             | CUSIP: N/A<br>LEI: 4469000001ECOWXFNE33       | Long             | EC               | CORP              | MX        |    471260 | NS      | $1006999.09   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Telekom AG                                                       | DEUTSCHE TELEKOM AG REG                       | CUSIP: N/A<br>LEI: 549300V9QSIG4WX4GJ96       | Long             | EC               | CORP              | DE        |     70928 | NS      | $2595889.80   | 1.09%             |  |  |  | No            |                  2 | On Loan: No      |
| VARUN BEVERAGES LIMITED                                                   | VARUN BEVERAGES LTD                           | CUSIP: N/A<br>LEI: 33580058NWEMWBDNMD48       | Long             | EC               | CORP              | IN        |     84406 | NS      | $450420.80    | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| PSP Swiss Property AG                                                     | PSP SWISS PROPERTY AG                         | CUSIP: N/A<br>LEI: 50670042Y437P8X44F56       | Long             | EC               | CORP              | CH        |      4578 | NS      | $845537.98    | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

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

**Name of Applicant:** Victory Portfolios

**Signature:** Carol Trevino

**Name of Signer:** Carol Trevino

**Title:** Treasurer