# EDGAR Filing Document

**Accession Number:** 0000802716
**File Stem:** 0001752724-23-041048
**Filing Date:** 2023-2
**Character Count:** 77574
**Document Hash:** a53312753f125cfbfea7a7064f45a22d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-041048.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001752724-23-041048

**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**: 20230630

**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:** 23670838

**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           |
| C000144996 | Class C      | MICCX           |
| 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:** 2023-06-30

- **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:** $193611787.39

**Total Liabilities:** $2160564.36

**Net Assets:** $191451223.03

**Cash Not Reported:** $1576178.06

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000144998 | 4.46%                | 12.81%               | -2.32%               |
| Class ID C000144995 | 4.63%                | 12.62%               | -2.42%               |
| Class ID C000144996 | 4.48%                | 12.69%               | 0.00%                |
| Class ID C000155527 | 4.56%                | 12.76%               | -2.41%               |
| Class ID C000144997 | 4.60%                | 12.87%               | -2.47%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1138790.45             | $8738628.29                                |
| Month 2  | $-2186846.69             | $24235644.96                               |
| Month 3  | $-452797.17              | $-4522828.75                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| REXEL SA                                       | REXEL SA                                    | CUSIP: N/A<br>LEI: 969500N6AVPA51648T62       | Long             | EC               | CORP              | FR        |     37088 | NS      | $733439.85    | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED PLC                         | STANDARD CHARTERED PLC                      | CUSIP: N/A<br>LEI: U4LOSYZ7YG4W3S5F2G91       | Long             | EC               | CORP              | GB        |    182555 | NS      | $1361300.34   | 0.71%             |  |  |  | No            |                  2 | On Loan: No      |
| CANON INC.                                     | CANON INC                                   | CUSIP: N/A<br>LEI: 529900JH1GSC035SSP77       | Long             | EC               | CORP              | JP        |     25400 | NS      | $549843.17    | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| THE SAGE GROUP PLC.                            | SAGE GROUP PLC                              | CUSIP: N/A<br>LEI: 2138005RN5XYLTF8G138       | Long             | EC               | CORP              | GB        |     68390 | NS      | $615700.73    | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| CK HUTCHISON HOLDINGS LIMITED                  | CK HUTCHISON HOLDINGS                       | CUSIP: N/A<br>LEI: 254900Z8HM1VEPOQ2G79       | Long             | EC               | CORP              | KY        |    117000 | NS      | $700970.07    | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Element Fleet Management Corp.                 | ELEMENT FINANCIAL CORP                      | CUSIP: 286181201<br>LEI: 5493000PGBS1C22ELQ16 | Long             | EC               | CORP              | CA        |     89793 | NS      | $1223726.44   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| SEMBCORP INDUSTRIES LTD                        | SEMBCORP INDUSTRIES LTD                     | CUSIP: N/A<br>LEI: 254900J0FF14U6TPQM96       | Long             | EC               | CORP              | SG        |    329800 | NS      | $832862.98    | 0.44%             |  |  |  | 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        |    114670 | NS      | $931387.31    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| PERNOD RICARD SA                               | PERNOD RICARD SA                            | CUSIP: N/A<br>LEI: 52990097YFPX9J0H5D87       | Long             | EC               | CORP              | FR        |      6810 | NS      | $1339490.15   | 0.70%             |  |  |  | No            |                  2 | On Loan: No      |
| BANCO SANTANDER, S.A.                          | BANCO SANTANDER SA                          | CUSIP: N/A<br>LEI: 5493006QMFDDMYWIAM13       | Long             | EC               | CORP              | ES        |    310235 | NS      | $927505.81    | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS Group AG                                   | UBS GROUP AG                                | CUSIP: N/A<br>LEI: 549300SZJ9VS8SGXAN81       | Long             | EC               | CORP              | CH        |     47463 | NS      | $882396.65    | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| China Railway Group Limited                    | CHINA RAILWAY GROUP LTD                     | CUSIP: N/A<br>LEI: 529900TFRLG8UDJ7QA89       | Long             | EC               | CORP              | CN        |   1591000 | NS      | $835457.85    | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| XIAOMI CORPORATION                             | XIAOMI CORP CLASS B                         | CUSIP: N/A<br>LEI: 2549001ACVFAZRNMKL32       | Long             | EC               | CORP              | KY        |    408600 | NS      | $567215.40    | 0.30%             |  |  |  | Yes           |                  2 | On Loan: No      |
| KOMATSU LTD.                                   | KOMATSU LIMITED                             | CUSIP: N/A<br>LEI: 5493004LQ0B4T7QPQV17       | Long             | EC               | CORP              | JP        |     47000 | NS      | $1016018.76   | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| RECKITT BENCKISER GROUP PLC                    | RECKITT BENCKISER GROUP PLC                 | CUSIP: N/A<br>LEI: 5493003JFSMOJG48V108       | Long             | EC               | CORP              | GB        |      9959 | NS      | $690174.92    | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| NICE LTD                                       | NICE LTD                                    | CUSIP: N/A<br>LEI: 254900YTY4EF5Z4W0A51       | Long             | EC               | CORP              | IL        |      3889 | NS      | $749224.14    | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| TESCO PLC                                      | TESCO PLC                                   | CUSIP: N/A<br>LEI: 2138002P5RNKC5W2JZ46       | Long             | EC               | CORP              | GB        |    345462 | NS      | $930776.98    | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| CK ASSET HOLDINGS LIMITED                      | CK ASSET HOLDINGS LIMITED                   | CUSIP: N/A<br>LEI: 5299006GJZSGP78B8S35       | Long             | EC               | CORP              | KY        |    121895 | NS      | $747646.40    | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC US GOVERNMENT MONEY MARKET FUND           | HSBC US GOVT MMKT-I                         | CUSIP: 40428X107<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    430556 | NS      | $430555.95    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| STELLA-JONES INC.                              | STELLA JONES INC                            | CUSIP: 85853F105<br>LEI: 5493007LOVNNLYJ6KZ35 | Long             | EC               | CORP              | CA        |     26930 | NS      | $965167.38    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsui Fudosan Co., Ltd.                       | MITSUI FUDOSAN CO LTD                       | CUSIP: N/A<br>LEI: 353800ND4ZKNZDYKMF33       | Long             | EC               | CORP              | JP        |     38700 | NS      | $707426.74    | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| BANCO DO BRASIL S.A.                           | BANCO DO BRASIL SA                          | CUSIP: N/A<br>LEI: QE0Q0253K88YAGNPE356       | Long             | EC               | CORP              | BR        |    146600 | NS      | $948516.55    | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| ArcelorMittal SA                               | ARCELORMITTAL                               | CUSIP: N/A<br>LEI: 2EULGUTUI56JI9SAL165       | Long             | EC               | CORP              | LU        |     29487 | NS      | $777819.51    | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| BRP Inc.                                       | BRP INC CA                                  | CUSIP: 05577W200<br>LEI: 529900EPQGESIRCPY551 | Long             | EC               | CORP              | CA        |     10928 | NS      | $833282.20    | 0.44%             |  |  |  | No            |                  1 | On Loan: —       |
| Mercedes-Benz Group AG                         | Mercedes Benz Group AG                      | CUSIP: N/A<br>LEI: 529900R27DL06UVNT076       | Long             | EC               | CORP              | DE        |     18139 | NS      | $1186029.60   | 0.62%             |  |  |  | No            |                  2 | On Loan: No      |
| Ooredoo Q.P.S.C.                               | OOREDOO QPSC                                | CUSIP: N/A<br>LEI: 549300D3EIDZJB62TR20       | Long             | EC               | CORP              | QA        |    226599 | NS      | $575503.67    | 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        |    190000 | NS      | $2759772.29   | 1.44%             |  |  |  | No            |                  2 | On Loan: No      |
| WILMAR INTERNATIONAL LIMITED                   | WILMAR INTERNATIONAL LTD                    | CUSIP: N/A<br>LEI: 549300H2EAI4YRLWBB20       | Long             | EC               | CORP              | SG        |    394600 | NS      | $1229602.92   | 0.64%             |  |  |  | No            |                  2 | On Loan: No      |
| RINNAI CORPORATION                             | RINNAI CORP                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |      8000 | NS      | $595418.07    | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| DELTA ELECTRONICS, INC.                        | DELTA ELECTRONICS INC                       | CUSIP: N/A<br>LEI: 529900UVZWNWGDLJSM52       | Long             | EC               | CORP              | TW        |     85000 | NS      | $788038.88    | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| Shin-Etsu Chemical Co., Ltd.                   | SHIN ETSU CHEMICAL                          | CUSIP: N/A<br>LEI: 353800PX8Q64N86H5W41       | Long             | EC               | CORP              | JP        |      6300 | NS      | $769424.20    | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| GOODMAN GROUP                                  | GOODMAN GROUP                               | CUSIP: N/A<br>LEI: N/A                        | Long             |  | CORP              | AU        |     48738 | NS      | $573048.29    | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Daimler Truck Holding AG                       | DAIMLER TRUCK HOLDING AG                    | CUSIP: N/A<br>LEI: 529900PW78JIYOUBSR24       | Long             | EC               | CORP              | DE        |     20591 | NS      | $632912.56    | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| E INK HOLDINGS INC.                            | E INK HOLDINGS INC                          | CUSIP: N/A<br>LEI: 529900UOR451FJJYL571       | Long             | EC               | CORP              | TW        |     90000 | NS      | $471358.07    | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| EDENRED SE                                     | EDENRED                                     | CUSIP: N/A<br>LEI: 9695006LOD5B2D7Y0N70       | Long             | EC               | CORP              | FR        |     12740 | NS      | $693280.58    | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| LEGAL & GENERAL GROUP PLC                      | LEGAL GENERAL GROUP PLC                     | CUSIP: N/A<br>LEI: 213800JH9QQWHLO99821       | Long             | EC               | CORP              | GB        |    201307 | NS      | $603417.13    | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| TATA CONSULTANCY SERVICES LIMITED              | TATA CONSULTANCY SERVICES LTD               | CUSIP: N/A<br>LEI: 335800ZJKU9GPQRE2U66       | Long             | EC               | CORP              | IN        |     13601 | NS      | $534920.47    | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung Electronics Co., Ltd.                  | SAMSUNG ELECTRONICS CO LTD                  | CUSIP: N/A<br>LEI: 9884007ER46L6N7EI764       | Long             | EC               | CORP              | KR        |     16689 | NS      | $732592.27    | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| STMicroelectronics N.V.                        | STMICROELECTRONICS N V                      | CUSIP: N/A<br>LEI: 213800Z8NOHIKRI42W10       | Long             | EC               | CORP              | NL        |     32984 | NS      | $1171954.08   | 0.61%             |  |  |  | No            |                  2 | On Loan: No      |
| Inmode Ltd                                     | INMODE LTD                                  | CUSIP: M5425M103<br>LEI: 984500DD95A35E9BD358 | Long             | EC               | CORP              | IL        |     18575 | NS      | $663127.50    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| PICC Property and Casualty Company Limited     | PICC PROPERTY CASUALTY CO LTD               | CUSIP: N/A<br>LEI: 300300F1000311000017       | Long             | EC               | CORP              | CN        |    648000 | NS      | $612716.64    | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Boliden AB                                     | BOLIDEN AB                                  | CUSIP: N/A<br>LEI: 21380059QU7IM1ONDJ56       | Long             | EC               | CORP              | SE        |     20232 | NS      | $760377.37    | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Aktiebolaget Volvo                             | VOLVO AB                                    | CUSIP: 928856301<br>LEI: 549300HGV012CNC8JD22 | Long             | EC               | CORP              | SE        |     44676 | NS      | $807454.23    | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| HON HAI PRECISION INDUSTRY CO., LTD.           | HON HAI PRECISION INDUSTRY CO LTD           | CUSIP: N/A<br>LEI: 30030004CM3GSZXX7O56       | Long             | EC               | CORP              | TW        |    159000 | NS      | $515414.60    | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| MTU Aero Engines AG                            | MTU AERO ENGINES AG                         | CUSIP: N/A<br>LEI: 529900807L67JY81RD65       | Long             | EC               | CORP              | DE        |      3095 | NS      | $665748.66    | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Bayer Aktiengesellschaft                       | BAYER AG                                    | CUSIP: N/A<br>LEI: 549300J4U55H3WP1XT59       | Long             | EC               | CORP              | DE        |     20812 | NS      | $1071042.81   | 0.56%             |  |  |  | No            |                  2 | On Loan: No      |
| A.P. MOELLER - MAERSK A/S                      | AP MOELLER MAERSK A S                       | CUSIP: N/A<br>LEI: 549300D2K6PKKKXVNN73       | Long             | EC               | CORP              | DK        |       348 | NS      | $779169.11    | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| VERBIO Vereinigte BioEnergie AG                | VERBIO VEREINIGTE BIOENERGIE AG             | CUSIP: N/A<br>LEI: 529900W51PINCFFALS96       | Long             | EC               | CORP              | DE        |     11094 | NS      | $719148.99    | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Iberdrola, S.A.                                | IBERDROLA SA                                | CUSIP: N/A<br>LEI: 5QK37QC7NWOJ8D7WVQ45       | Long             | EC               | CORP              | ES        |     83227 | NS      | $971411.85    | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| CENCOSUD S.A.                                  | CENCOSUD SA                                 | CUSIP: N/A<br>LEI: 549300NLTGCFV7482429       | Long             | EC               | CORP              | CL        |    384409 | NS      | $633163.14    | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| NK LUKOIL PAO                                  | LUKOIL PJSC                                 | CUSIP: 69343P105<br>LEI: 549300LCJ1UJXHYBWI24 | Long             |  | CORP              | RU        |      8489 | NS      | $902.30       | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| NN Group N.V.                                  | NN GROUP NV                                 | CUSIP: N/A<br>LEI: 724500OHYNDT9OY6Q215       | Long             | EC               | CORP              | NL        |     17768 | NS      | $726468.88    | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Ajinomoto Co., Inc.                            | AJINOMOTO CO INC                            | CUSIP: N/A<br>LEI: 353800UT0TLROREPIC92       | Long             | EC               | CORP              | JP        |     33300 | NS      | $1017914.36   | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| WH GROUP LIMITED                               | WH GROUP LTD                                | CUSIP: N/A<br>LEI: 254900A4AYEDRWYSE928       | Long             | EC               | CORP              | KY        |    824500 | NS      | $480907.70    | 0.25%             |  |  |  | Yes           |                  2 | On Loan: No      |
| SUN LIFE FINANCIAL INC                         | SUN LIFE FINANCIAL INC                      | CUSIP: 866796105<br>LEI: 549300V040JZX5S66Z78 | Long             | EC               | CORP              | CA        |     21035 | NS      | $976547.31    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| ENEL - SPA                                     | ENEL SPA                                    | CUSIP: N/A<br>LEI: WOCMU6HCI0OJWNPRZS33       | Long             | EC               | CORP              | IT        |    139799 | NS      | $751751.85    | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Infineon Technologies AG                       | INFINEON TECHNOLOGIES AG                    | CUSIP: N/A<br>LEI: TSI2PJM6EPETEQ4X1U25       | Long             | EC               | CORP              | DE        |     38665 | NS      | $1174936.05   | 0.61%             |  |  |  | No            |                  2 | On Loan: No      |
| FAIRFAX FINANCIAL HOLDINGS LIMITED             | FAIRFAX FINANCIAL HOLDINGS LTD              | CUSIP: 303901102<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | EC               | CORP              | CA        |      2101 | NS      | $1244754.82   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLICIS GROUPE SA                             | PUBLICIS GROUPE                             | CUSIP: N/A<br>LEI: 2138004KW8BV57III342       | Long             | EC               | CORP              | FR        |     18426 | NS      | $1176927.57   | 0.61%             |  |  |  | No            |                  2 | On Loan: No      |
| THE CANARA BANK LIMITED                        | CANARA BANK LTD                             | CUSIP: N/A<br>LEI: 335800E4RH82Z8XC3C30       | Long             | EC               | CORP              | IN        |    387198 | NS      | $1555967.21   | 0.81%             |  |  |  | No            |                  2 | On Loan: No      |
| VAR ENERGI ASA                                 | VAR ENERGI ASA                              | CUSIP: N/A<br>LEI: 549300LIVN3FFOJN2K47       | Long             | EC               | CORP              | NO        |    156049 | NS      | $539407.20    | 0.28%             |  |  |  | No            |                  2 | On Loan: —       |
| Nippon Shinyaku Co., Ltd.                      | NIPPON SHINYAKU CO LTD                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |     11300 | NS      | $641369.04    | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Cheil Worldwide Inc                            | CHEIL WORLDWIDE INC                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |     33988 | NS      | $620846.50    | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Fortum Oyj                                     | FORTUM OYJ                                  | CUSIP: N/A<br>LEI: 635400IUIZZIUJSAMF76       | Long             | EC               | CORP              | FI        |     51892 | NS      | $864089.97    | 0.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Hitachi, Ltd.                                  | HITACHI LTD                                 | CUSIP: N/A<br>LEI: 549300T6IPOCDWLKC615       | Long             | EC               | CORP              | JP        |     13200 | NS      | $664276.12    | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| BP P.L.C.                                      | BP PLC                                      | CUSIP: N/A<br>LEI: 213800LH1BZH3DI6G760       | Long             | EC               | CORP              | GB        |    292685 | NS      | $1688416.29   | 0.88%             |  |  |  | No            |                  2 | On Loan: No      |
| MOWI ASA                                       | MOWI ASA                                    | CUSIP: N/A<br>LEI: 549300W1OGQF5LZIH349       | Long             | EC               | CORP              | NO        |     38571 | NS      | $658080.77    | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| BAIDU, INC.                                    | BAIDU INC                                   | CUSIP: N/A<br>LEI: 254900AL64IANZYI1E02       | Long             | EC               | CORP              | KY        |     68850 | NS      | $981908.49    | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| Evolution AB (publ)                            | EVOLUTION AB                                | CUSIP: N/A<br>LEI: 549300SUH6ZR1RF6TA88       | Long             | EC               | CORP              | SE        |     10212 | NS      | $995242.61    | 0.52%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Suncor Energy Inc.                             | SUNCOR ENERGY INC                           | CUSIP: 867224107<br>LEI: 549300W70ZOQDVLCHY06 | Long             | EC               | CORP              | CA        |     19265 | NS      | $611192.02    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Lotus Pharmaceutical Co.,Ltd.                  | LOTUS PHARMACEUTICAL CO LTD                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |    157000 | NS      | $1252869.30   | 0.65%             |  |  |  | No            |                  2 | On Loan: No      |
| Signify N.V.                                   | SIGNIFY NV                                  | CUSIP: N/A<br>LEI: 549300072P3J1X8NZO35       | Long             | EC               | CORP              | NL        |     14226 | NS      | $478815.06    | 0.25%             |  |  |  | Yes           |                  2 | On Loan: No      |
| ASHTEAD GROUP PUBLIC LIMITED COMPANY           | ASHTEAD GROUP PLC                           | CUSIP: N/A<br>LEI: 2138007UTBN8X9K1A235       | Long             | EC               | CORP              | GB        |     11496 | NS      | $652889.02    | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| DRAX GROUP PLC                                 | DRAX GROUP PLC                              | CUSIP: N/A<br>LEI: 549300YPSNTXR4ZHSR98       | Long             | EC               | CORP              | GB        |     92977 | NS      | $788503.55    | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| LG INNOTEK CO.,LTD                             | LG INNOTEK CO LTD                           | CUSIP: N/A<br>LEI: 988400KTHH2LMUX7EB48       | Long             | EC               | CORP              | KR        |      5100 | NS      | $1028641.75   | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| Julius Baer Gruppe AG                          | JULIUS BAER GROUP LTD                       | CUSIP: N/A<br>LEI: 5299007MF0604ZGJER92       | Long             | EC               | CORP              | CH        |     17201 | NS      | $1001388.25   | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| MERCK Kommanditgesellschaft auf Aktien         | MERCK KGAA                                  | CUSIP: N/A<br>LEI: 529900OAREIS0MOPTW25       | Long             | EC               | CORP              | DE        |      7744 | NS      | $1493917.00   | 0.78%             |  |  |  | No            |                  2 | On Loan: No      |
| ING Groep N.V.                                 | ING GROEP NV                                | CUSIP: N/A<br>LEI: 549300NYKK9MWM7GGW15       | Long             | EC               | CORP              | NL        |     69479 | NS      | $846214.28    | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| PAREX RESOURCES INC.                           | PAREX RESOURCES INC                         | CUSIP: 69946Q104<br>LEI: 549300U7LWRGTY6XWK67 | Long             | EC               | CORP              | CA        |     32563 | NS      | $484668.67    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Andritz AG                                     | ANDRITZ AG                                  | CUSIP: N/A<br>LEI: 549300VZKC61IR5U8G96       | Long             | EC               | CORP              | AT        |     17446 | NS      | $998503.34    | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| CHARTER HALL GROUP                             | CHARTER HALL GROUP                          | CUSIP: N/A<br>LEI: N/A                        | Long             |  | CORP              | AU        |     79425 | NS      | $644140.99    | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| EIFFAGE SA                                     | EIFFAGE SA                                  | CUSIP: N/A<br>LEI: 969500OQXKE5WDM9M994       | Long             | EC               | CORP              | FR        |      7887 | NS      | $775687.32    | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| Holcim AG                                      | HOLCIM LTD                                  | CUSIP: N/A<br>LEI: 529900EHPFPYHV6IQO98       | Long             | EC               | CORP              | CH        |     17247 | NS      | $893002.90    | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| BOC HONG KONG (HOLDINGS) LIMITED               | BOC HONG KONG HOLDINGS LTD                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | HK        |    199500 | NS      | $677301.02    | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| ISUZU MOTORS LIMITED                           | ISUZU MOTORS LTD                            | CUSIP: N/A<br>LEI: 529900C0QSXVCC7AR494       | Long             | EC               | CORP              | JP        |     97800 | NS      | $1133956.49   | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| QANTAS AIRWAYS LIMITED                         | QANTAS AIRWAYS LIMITED                      | CUSIP: N/A<br>LEI: YLXNW6TI6QSK1H8H0N82       | Long             | EC               | CORP              | AU        |    190148 | NS      | $769492.46    | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| YARA INTERNATIONAL ASA                         | YARA INTERNATIONAL ASA                      | CUSIP: N/A<br>LEI: 213800WKOUWXWFJ5Z514       | Long             | EC               | CORP              | NO        |     18166 | NS      | $798790.61    | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Seven & i Holdings Co., Ltd.                   | SEVEN I HOLDINGS CO LTD                     | CUSIP: N/A<br>LEI: 52990037G8JRM3TWGY86       | Long             | EC               | CORP              | JP        |     19900 | NS      | $852971.82    | 0.45%             |  |  |  | No            |                  2 | On Loan: No      |
| CHINA CONSTRUCTION BANK CORPORATION            | CHINA CONSTRUCTION BANK CORP                | CUSIP: N/A<br>LEI: 5493001KQW6DM7KEDR62       | Long             | EC               | CORP              | CN        |   1304000 | NS      | $815555.00    | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| LEONARDO - SOCIETA PER AZIONI                  | LEONARDO SPA                                | CUSIP: N/A<br>LEI: 529900X4EEX1U9LN3U39       | Long             | EC               | CORP              | IT        |     75301 | NS      | $649360.86    | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| 3I GROUP PLC                                   | 3I GROUP PLC                                | CUSIP: N/A<br>LEI: 35GDVHRBMFE7NWATNM84       | Long             | EC               | CORP              | GB        |     94348 | NS      | $1521259.06   | 0.79%             |  |  |  | No            |                  2 | On Loan: No      |
| Emaar Development PJSC                         | EMAAR DEVELOPMENT PJSC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AE        |    636237 | NS      | $764178.58    | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| SAP SE                                         | SAP SE                                      | CUSIP: N/A<br>LEI: 529900D6BF99LW9R2E68       | Long             | EC               | CORP              | DE        |      5245 | NS      | $541420.33    | 0.28%             |  |  |  | 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        |     38125 | NS      | $1534095.47   | 0.80%             |  |  |  | No            |                  2 | On Loan: No      |
| MAGNIT PAO                                     | MAGNIT PJSC SPON GDR REGS                   | CUSIP: 55953Q202<br>LEI: 2534009KKPTVL99W2Y12 | Long             |  | CORP              | RU        |     36370 | NS      | $83.29        | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Brenntag SE                                    | BRENNTAG SE                                 | CUSIP: N/A<br>LEI: NNROIXVWJ7CPSR27SV97       | Long             | EC               | CORP              | DE        |     10769 | NS      | $686693.57    | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| CHAILEASE HOLDING COMPANY LIMITED              | CHAILEASE HOLDING CO LTD                    | CUSIP: N/A<br>LEI: 529900L76E6T0JCM3J27       | Long             | EC               | CORP              | KY        |     84895 | NS      | $598169.36    | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Tsingtao Brewery Company Limited               | TSINGTAO BREWERY CO LTD                     | CUSIP: N/A<br>LEI: 300300OJ7D0Q1ESE8L15       | Long             | EC               | CORP              | CN        |     62000 | NS      | $610555.50    | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| VARUN BEVERAGES LIMITED                        | VARUN BEVERAGES LTD                         | CUSIP: N/A<br>LEI: 33580058NWEMWBDNMD48       | Long             | EC               | CORP              | IN        |     45481 | NS      | $725864.66    | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| SBERBANK ROSSII PAO                            | SBERBANK OF RUSSIA PJSC                     | CUSIP: N/A<br>LEI: 549300WE6TAF5EEWQS81       | Long             | EC               | CORP              | RU        |    220230 | NS      | $645.93       | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| BARCLAYS PLC                                   | BARCLAYS PLC                                | CUSIP: N/A<br>LEI: 213800LBQA1Y9L22JB70       | Long             | EC               | RF                | GB        |    430452 | NS      | $818895.34    | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| TENARIS S.A.                                   | TENARIS SA                                  | CUSIP: N/A<br>LEI: 549300Y7C05BKC4HZB40       | Long             | EC               | CORP              | LU        |     56126 | NS      | $984181.15    | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| iShares Core MSCI EAFE ETF                     | ISHARES CORE MSCI EAFE ETF                  | CUSIP: 46432F842<br>LEI: N/A                  | Long             |  | RF                | US        |     27337 | NS      | $1685052.68   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| CORPORACION ACCIONA ENERGIAS RENOVABLES SA     | CORP ACCIONA ENERGIAS RENOVABLES SA         | CUSIP: N/A<br>LEI: 254900UPX0OEHTKB9Y44       | Long             | EC               | CORP              | ES        |     24864 | NS      | $960623.41    | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Mizuho Financial Group, Inc.                   | MIZUHO FINANCIAL GROUP INC                  | CUSIP: N/A<br>LEI: 353800CI5L6DDAN5XZ33       | Long             | EC               | CORP              | JP        |     72310 | NS      | $1018879.84   | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| RELIANCE INDUSTRIES LIMITED                    | RELIANCE INDUSTRIES LTD                     | CUSIP: N/A<br>LEI: 5493003UOETFYRONLG31       | Long             | EC               | CORP              | IN        |     36543 | NS      | $1121960.34   | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| ALIBABA GROUP HOLDING LIMITED                  | ALIBABA GROUP HOLDING LTD                   | CUSIP: N/A<br>LEI: 5493001NTNQJDH60PM02       | Long             | EC               | CORP              | KY        |    159896 | NS      | $1754626.12   | 0.92%             |  |  |  | No            |                  2 | On Loan: No      |
| Fujitsu Limited                                | FUJITSU LTD                                 | CUSIP: N/A<br>LEI: 3538000246DHJLRTUZ24       | Long             | EC               | CORP              | JP        |      7400 | NS      | $986700.94    | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| ARC RESOURCES LTD.                             | ARC RESOURCES LTD                           | CUSIP: 00208D408<br>LEI: FIR47I6FEYKYNJBYW622 | Long             | EC               | CORP              | CA        |     37512 | NS      | $505683.26    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| BYD COMPANY LIMITED                            | BYD CO LTD                                  | CUSIP: N/A<br>LEI: 5299005557VL7ULJ7A69       | Long             | EC               | CORP              | CN        |     29000 | NS      | $711526.93    | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| FUJI ELECTRIC CO., LTD.                        | FUJI ELECTRIC CO LTD                        | CUSIP: N/A<br>LEI: 5299000HVNGZZTYYM906       | Long             | EC               | CORP              | JP        |     20500 | NS      | $773773.17    | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| COSCO SHIPPING Holdings Co., Ltd.              | COSCO SHIPPING HOLDINGS CO LTD              | CUSIP: N/A<br>LEI: 3003009XI0QGYYA29S17       | Long             | EC               | CORP              | CN        |    450150 | NS      | $457622.44    | 0.24%             |  |  |  | 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        |   1600000 | NS      | $547386.19    | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| EQUINOR ASA                                    | EQUINOR ASA                                 | CUSIP: N/A<br>LEI: OW6OFBNCKXC4US5C7523       | Long             | EC               | CORP              | NO        |     18961 | NS      | $682313.27    | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| TOSOH CORPORATION                              | TOSOH CORP                                  | CUSIP: N/A<br>LEI: 529900YSLFVJF2MDBX02       | Long             | EC               | CORP              | JP        |     57400 | NS      | $682684.03    | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| ANGLO AMERICAN PLC                             | ANGLO AMERICAN PLC                          | CUSIP: N/A<br>LEI: 549300S9XF92D1X8ME43       | Long             | EC               | CORP              | GB        |     17794 | NS      | $696662.88    | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| BANKINTER, S.A.                                | BANKINTER SA                                | CUSIP: N/A<br>LEI: VWMYAEQSTOPNV0SUGU82       | Long             | EC               | CORP              | ES        |    102410 | NS      | $686001.80    | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Coca-Cola HBC AG                               | COCA COLA HBC AG                            | CUSIP: N/A<br>LEI: 549300EFP3TNG7JGVE49       | Long             | EC               | CORP              | CH        |     35497 | NS      | $838928.13    | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Nippon Yusen Kabushiki Kaisha                  | NIPPON YUSEN KK                             | CUSIP: N/A<br>LEI: 353800YPW4XM0ZN5I149       | Long             | EC               | CORP              | JP        |     43500 | NS      | $1025914.45   | 0.54%             |  |  |  | No            |                  2 | On Loan: —       |
| MAHINDRA AND MAHINDRA LIMITED                  | MAHINDRA MAHINDRA LTD                       | CUSIP: N/A<br>LEI: 3358003B573EV4KB4Z02       | Long             | EC               | CORP              | IN        |     37698 | NS      | $567567.83    | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| GLENCORE PLC                                   | GLENCORE PLC                                | CUSIP: N/A<br>LEI: 2138002658CPO9NBH955       | Long             | EC               | CORP              | JE        |    216377 | NS      | $1442635.04   | 0.75%             |  |  |  | No            |                  2 | On Loan: No      |
| PETRO RIO S.A.                                 | PETRO RIO SA                                | CUSIP: N/A<br>LEI: 549300IQAZIWK5RVZX23       | Long             | EC               | CORP              | BR        |    152200 | NS      | $1072172.63   | 0.56%             |  |  |  | No            |                  2 | On Loan: No      |
| Lenovo Group Limited                           | LENOVO GROUP LTD                            | CUSIP: N/A<br>LEI: 254900VUZRGD5U73RE46       | Long             | EC               | CORP              | HK        |    864000 | NS      | $703766.69    | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Ganfeng Lithium Group Co., Ltd.                | GANFENG LITHIUM CO LTD                      | CUSIP: N/A<br>LEI: 3003006BE6UOHWEOOR42       | Long             | EC               | CORP              | CN        |     66600 | NS      | $493755.30    | 0.26%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Novartis AG                                    | NOVARTIS AG                                 | CUSIP: N/A<br>LEI: 5493007HIVTX6SY6XD66       | Long             | EC               | CORP              | CH        |     27124 | NS      | $2455316.82   | 1.28%             |  |  |  | No            |                  2 | On Loan: No      |
| ABSA GROUP LIMITED                             | ABSA GROUP LTD                              | CUSIP: N/A<br>LEI: 2138006IPPRD4N6XLT30       | Long             | EC               | CORP              | ZA        |     60454 | NS      | $686918.99    | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| UPL LIMITED                                    | UPL LTD                                     | CUSIP: N/A<br>LEI: 335800RJSM1SLHO4UA95       | Long             | EC               | CORP              | IN        |    102771 | NS      | $887660.01    | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Nokia Oyj                                      | NOKIA OYJ                                   | CUSIP: N/A<br>LEI: 549300A0JPRWG1KI7U06       | Long             | EC               | CORP              | FI        |    173644 | NS      | $806583.00    | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| GERDAU S.A.                                    | GERDAU SA PREF                              | CUSIP: N/A<br>LEI: 254900YDV6SEQQPZVG24       | Long             | EC               | CORP              | BR        |    169700 | NS      | $932898.12    | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| ANHUI CONCH CEMENT COMPANY LIMITED             | ANHUI CONCH CEMENT CO LTD                   | CUSIP: N/A<br>LEI: 300300JVKW56SSAEQZ33       | Long             | EC               | CORP              | CN        |    246500 | NS      | $858971.48    | 0.45%             |  |  |  | No            |                  2 | On Loan: No      |
| ICICI BANK LIMITED                             | ICICI BANK LTD                              | CUSIP: N/A<br>LEI: R7RX8ER1V4666J8D1I38       | Long             | EC               | CORP              | IN        |     55961 | NS      | $601940.42    | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| BANK OF CHINA LIMITED                          | BANK OF CHINA LTD                           | CUSIP: N/A<br>LEI: 54930053HGCFWVHYZX42       | Long             | EC               | CORP              | CN        |   2233275 | NS      | $808334.64    | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Nestle S.A.                                    | NESTLE SA                                   | CUSIP: N/A<br>LEI: KY37LUS27QQX7BB93L28       | Long             | EC               | CORP              | CH        |     17821 | NS      | $2059050.34   | 1.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Ressources Teck Limitee                        | TECK RESOURCES LTD                          | CUSIP: 878742204<br>LEI: T8KI5SQ2JRWHL7XY0E11 | Long             | EC               | CORP              | CA        |     28123 | NS      | $1062973.78   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| NATIONAL AUSTRALIA BANK LIMITED                | NATIONAL AUSTRALIA BANK LTD                 | CUSIP: N/A<br>LEI: F8SB4JFBSYQFRQEH3Z21       | Long             | EC               | CORP              | AU        |     85361 | NS      | $1732749.39   | 0.91%             |  |  |  | No            |                  2 | On Loan: No      |
| RS GROUP PLC                                   | RS GROUP PLC                                | CUSIP: N/A<br>LEI: 549300KVXDURRKVW7R37       | Long             | EC               | CORP              | GB        |     57090 | NS      | $614566.14    | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| QBE INSURANCE GROUP LIMITED                    | QBE INSURANCE GROUP LTD                     | CUSIP: N/A<br>LEI: 549300D2FBW76FPUSG65       | Long             | EC               | CORP              | AU        |     75812 | NS      | $687590.04    | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| TENCENT HOLDINGS LIMITED                       | TENCENT HOLDINGS LTD                        | CUSIP: N/A<br>LEI: 254900N4SLUMW4XUYY11       | Long             | EC               | CORP              | KY        |     39100 | NS      | $1657949.81   | 0.87%             |  |  |  | No            |                  2 | On Loan: No      |
| SANTOS LIMITED                                 | SANTOS LTD                                  | CUSIP: N/A<br>LEI: 5299000RK70B5O2M7077       | Long             | EC               | CORP              | AU        |    147322 | NS      | $724396.62    | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Tokio Marine Holdings, Inc.                    | TOKIO MARINE HOLDINGS INC                   | CUSIP: N/A<br>LEI: 5299009QN2NZ191KLS29       | Long             | EC               | CORP              | JP        |     36600 | NS      | $781982.78    | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| NIPPON TELEGRAPH AND TELEPHONE CORPORATION     | NIPPON TELEGRAPH TELEPHONE CORPORATION      | CUSIP: N/A<br>LEI: 353800VHQU5VIXVUA841       | Long             | EC               | CORP              | JP        |     41800 | NS      | $1192255.46   | 0.62%             |  |  |  | No            |                  2 | On Loan: No      |
| TELEPERFORMANCE SE                             | TELEPERFORMANCE                             | CUSIP: N/A<br>LEI: 9695004GI61FHFFNRG61       | Long             | EC               | CORP              | FR        |      1861 | NS      | $444837.27    | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| KIA CORPORATION                                | KIA CORP                                    | CUSIP: N/A<br>LEI: 988400V8MJK9N7OI5X76       | Long             | EC               | CORP              | KR        |     13272 | NS      | $624503.75    | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| CSPC PHARMACEUTICAL GROUP LIMITED              | CSPC PHARMACEUTICAL GROUP LTD               | CUSIP: N/A<br>LEI: 529900M3XQCW234H8O91       | Long             | EC               | CORP              | HK        |    512000 | NS      | $533060.44    | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| BAE SYSTEMS PLC                                | BAE SYSTEMS PLC                             | CUSIP: N/A<br>LEI: 8SVCSVKSGDWMW2QHOH83       | Long             | EC               | CORP              | GB        |     67068 | NS      | $692558.04    | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Guangzhou Automobile Group Co., Ltd            | GUANGZHOU AUTOMOBILE GROUP CO LTD           | CUSIP: N/A<br>LEI: 5299005KY9BJO3ZE6A37       | Long             | EC               | CORP              | CN        |    870000 | NS      | $582682.01    | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| DBS GROUP HOLDINGS LTD                         | DBS GROUP HOLDINGS LTD                      | CUSIP: N/A<br>LEI: 5493007FKT78NKPM5V55       | Long             | EC               | CORP              | SG        |     39900 | NS      | $1010159.23   | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| Saudi Arabian Oil Company                      | SAUDI ARABIAN OIL CO                        | CUSIP: N/A<br>LEI: 5586006WD91QHB7J4X50       | Long             | EC               | CORP              | SA        |     55985 | NS      | $480699.49    | 0.25%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Alinma Bank SJSC                               | ALINMA BANK                                 | CUSIP: N/A<br>LEI: 558600HPAUTN6XSVBK93       | Long             | EC               | CORP              | SA        |    109658 | NS      | $949790.27    | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Heineken N.V.                                  | HEINEKEN NV                                 | CUSIP: N/A<br>LEI: 724500K5PTPSST86UQ23       | Long             | EC               | CORP              | NL        |      6828 | NS      | $643052.98    | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| SAFESTORE HOLDINGS PLC                         | SAFESTORE HOLDINGS PLC                      | CUSIP: N/A<br>LEI: 213800WGA3YSJC1YOH73       | Long             | EC               | CORP              | GB        |     62017 | NS      | $707054.26    | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Fubon Financial Holding Co., Ltd.              | FUBON FINANCIAL HOLDING CO LTD              | CUSIP: N/A<br>LEI: 549300G7Y2TS2XNIB476       | Long             | EC               | CORP              | TW        |    417730 | NS      | $764127.42    | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| MACQUARIE GROUP LIMITED                        | MACQUARIE GROUP LTD                         | CUSIP: N/A<br>LEI: ACMHD8HWFMFUIQQ8Y590       | Long             | EC               | CORP              | AU        |      6345 | NS      | $716117.37    | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| RIO TINTO LIMITED                              | RIO TINTO LIMITED                           | CUSIP: N/A<br>LEI: 529900X2VMAQT2PE0V24       | Long             | EC               | CORP              | AU        |      7999 | NS      | $631184.95    | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS FINANCIAL SQUARE GOVERNMENT FUND | GLDMN SCHS FIN SQ GV-FST                    | CUSIP: 38141W273<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    430556 | NS      | $430555.95    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| MINERAL RESOURCES LIMITED                      | MINERAL RESOURCES LTD                       | CUSIP: N/A<br>LEI: 5299007V1ACKFFX2P066       | Long             | EC               | CORP              | AU        |     15996 | NS      | $838906.70    | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| RHB BANK BERHAD                                | RHB CAPITAL BHD                             | CUSIP: N/A<br>LEI: 549300ZHRPSV7QIUJT80       | Long             | EC               | CORP              | MY        |    929500 | NS      | $1222634.42   | 0.64%             |  |  |  | No            |                  2 | On Loan: No      |
| Chularat Hospital PCL                          | CHULARAT HOSPITAL PCL NVDR                  | CUSIP: N/A<br>LEI: N/A                        | Long             |  | CORP              | TH        |   8368500 | NS      | $889253.75    | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| IREN S.P.A.                                    | IREN SPA                                    | CUSIP: N/A<br>LEI: 8156001EBD33FD474E60       | Long             | EC               | CORP              | IT        |    231813 | NS      | $364010.22    | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS SA                                 | BNP PARIBAS                                 | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | Long             | EC               | CORP              | FR        |     18990 | NS      | $1081120.87   | 0.56%             |  |  |  | No            |                  2 | On Loan: No      |
| NOVO NORDISK A/S                               | NOVO NORDISK A S                            | CUSIP: N/A<br>LEI: 549300DAQ1CVT6CXN342       | Long             | EC               | CORP              | DK        |     23256 | NS      | $3159072.42   | 1.65%             |  |  |  | No            |                  2 | On Loan: No      |
| LVMH MOET HENNESSY LOUIS VUITTON SE            | LVMH MOET HENNESSY LOUIS VUITTON SA         | CUSIP: N/A<br>LEI: IOG4E947OATN0KJYSD45       | Long             | EC               | CORP              | FR        |      4248 | NS      | $3090799.54   | 1.61%             |  |  |  | No            |                  2 | On Loan: No      |
| KLEPIERRE SA                                   | KLEPIERRE SA                                | CUSIP: N/A<br>LEI: 969500PB4U31KEFHZ621       | Long             | EC               | CORP              | FR        |     27268 | NS      | $629272.62    | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| INVESCO GOVERNMENT & AGENCY PORTFOLIO          | INVESCO GVT & AGNCY-INST                    | CUSIP: 825252885<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    430556 | NS      | $430555.95    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK LEUMI LE ISRAEL B.M.                      | BANK LEUMI LE ISRAEL BM                     | CUSIP: N/A<br>LEI: 7JDSZWRGUQY2DSTWCR57       | Long             | EC               | CORP              | IL        |     67497 | NS      | $562970.27    | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| BANQUE NATIONALE DU CANADA                     | NATIONAL BANK OF CANADA                     | CUSIP: 633067103<br>LEI: BSGEFEIOM18Y80CKCV46 | Long             | EC               | CORP              | CA        |     18207 | NS      | $1226935.01   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| SAMSUNG SDI CO., LTD.                          | SAMSUNG SDI CO LTD                          | CUSIP: N/A<br>LEI: 9884002AESDO4YW87G32       | Long             | EC               | CORP              | KR        |      1484 | NS      | $696856.20    | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| EUROFINS SCIENTIFIC SE                         | EUROFINS SCIENTIFIC                         | CUSIP: N/A<br>LEI: 529900JEHFM47DYY3S57       | Long             | EC               | CORP              | LU        |      9056 | NS      | $650111.73    | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Nintendo Co., Ltd.                             | NINTENDO CO LTD                             | CUSIP: N/A<br>LEI: 353800FEEXU6I9M0ZF27       | Long             | EC               | CORP              | JP        |     16000 | NS      | $672847.83    | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| ORIX CORPORATION                               | ORIX CORP                                   | CUSIP: N/A<br>LEI: 35380016EMHNBOVYE123       | Long             | EC               | CORP              | JP        |     44600 | NS      | $714005.58    | 0.37%             |  |  |  | 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        |    318853 | NS      | $822118.37    | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| TDK CORPORATION                                | TDK CORP                                    | CUSIP: N/A<br>LEI: 3538005O8WNU39U8NX03       | Long             | EC               | CORP              | JP        |     28300 | NS      | $920841.12    | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| Atlas Copco Aktiebolag                         | ATLAS COPCO AB                              | CUSIP: N/A<br>LEI: 213800T8PC8Q4FYJZR07       | Long             | EC               | CORP              | SE        |     58801 | NS      | $697081.80    | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Nutrien Ltd.                                   | NUTRIEN LTD                                 | CUSIP: 67077M108<br>LEI: 5493002QQ7GD21OWF963 | Long             | EC               | CORP              | CA        |     14048 | NS      | $1025738.51   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| MSILF Government Portfolio                     | MSILF GOVERNMENT-INST                       | CUSIP: 61747C707<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    430556 | NS      | $430555.95    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Hannover Rueck SE                              | HANNOVER RUECK SE                           | CUSIP: N/A<br>LEI: 529900KIN5BE45V5KB18       | Long             | EC               | CORP              | DE        |      5263 | NS      | $1038282.45   | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| KUNLUN ENERGY COMPANY LIMITED                  | KUNLUN ENERGY CO LTD                        | CUSIP: N/A<br>LEI: 5299007GRIKP15GM4927       | Long             | EC               | CORP              | BM        |    760000 | NS      | $540355.53    | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| ASTRAZENECA PLC                                | ASTRAZENECA PLC                             | CUSIP: N/A<br>LEI: PY6ZZQWO2IZFZC3IOL08       | Long             | EC               | CORP              | GB        |     19894 | NS      | $2691471.33   | 1.41%             |  |  |  | No            |                  2 | On Loan: No      |
| Qiagen N.V.                                    | QIAGEN NV                                   | CUSIP: N/A<br>LEI: 54930036WK3GMCN17Z57       | Long             | EC               | CORP              | NL        |     17537 | NS      | $881468.66    | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| ONO PHARMACEUTICAL CO., LTD.                   | ONO PHARMACEUTICAL CO LTD                   | CUSIP: N/A<br>LEI: 529900G26L4NG4GFJZ86       | Long             | EC               | CORP              | JP        |     40900 | NS      | $956125.41    | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| ESSILORLUXOTTICA SA                            | ESSILORLUXOTTICA SA                         | CUSIP: N/A<br>LEI: 549300M3VH1A3ER1TB49       | Long             | EC               | CORP              | FR        |      3707 | NS      | $670623.60    | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| LTIMindtree Ltd                                | LTIMINDTREE LTD                             | CUSIP: N/A<br>LEI: 335800DY1I1WFHVV6T22       | Long             | EC               | CORP              | IN        |      9873 | NS      | $520464.55    | 0.27%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Pandora A/S                                    | PANDORA A S                                 | CUSIP: N/A<br>LEI: 5299007OWYZ6I1E46843       | Long             | EC               | CORP              | DK        |      9654 | NS      | $682477.03    | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Bandai Namco Holdings Inc.                     | BANDAI NAMCO HOLDINGS INC                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |      8700 | NS      | $545394.17    | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| OLYMPUS CORPORATION                            | OLYMPUS OPTICAL CO LTD                      | CUSIP: N/A<br>LEI: 5299000Y52IFDI1I2A21       | Long             | EC               | CORP              | JP        |     36600 | NS      | $645634.17    | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Companhia Energetica de Minas Gerais - CEMIG   | CIA ENERGETICA DE MINAS GERAIS              | CUSIP: N/A<br>LEI: 254900W703PXLDSEM056       | Long             | EC               | CORP              | BR        |    323350 | NS      | $669035.81    | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| iShares Core MSCI Emerging Markets ETF         | ISHARES CORE MSCI EMERGING                  | CUSIP: 46434G103<br>LEI: N/A                  | Long             |  | RF                | US        |     27876 | NS      | $1301809.20   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| NIPPON EXPRESS HOLDINGS, INC.                  | NIPPON EXPRESS HOLDINGS CO LTD              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |     13600 | NS      | $776807.29    | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| LA BANQUE TORONTO-DOMINION                     | TORONTO DOMINION BANK                       | CUSIP: 891160509<br>LEI: PT3QB789TSUIDF371261 | Long             | EC               | CORP              | CA        |     21945 | NS      | $1421124.35   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| JD SPORTS FASHION PLC                          | JD SPORTS FASHION PLC                       | CUSIP: N/A<br>LEI: 213800HROV6Y9MUU8375       | Long             | EC               | CORP              | GB        |    704367 | NS      | $1070147.24   | 0.56%             |  |  |  | No            |                  2 | On Loan: No      |
| FINNING INTERNATIONAL INC.                     | FINNING INTERNATIONAL INC                   | CUSIP: 318071404<br>LEI: 549300QLDCP11KB6XW55 | Long             | EC               | CORP              | CA        |     27160 | NS      | $675288.52    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Yadea Group Holdings Ltd                       | YADEA GROUP HOLDINGS LTD                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KY        |    332000 | NS      | $552805.25    | 0.29%             |  |  |  | Yes           |                  2 | On Loan: No      |
| MITSUI & CO., LTD.                             | MITSUI CO LTD                               | CUSIP: N/A<br>LEI: 2NRSB4GOU9DD6CNW5R48       | Long             | EC               | CORP              | JP        |     42100 | NS      | $1226379.98   | 0.64%             |  |  |  | No            |                  2 | On Loan: No      |
| COMPAGNIE DE SAINT-GOBAIN SA                   | COMPAGNIE DE SAINT GOBAIN                   | CUSIP: N/A<br>LEI: NFONVGN05Z0FMN5PEC35       | Long             | EC               | CORP              | FR        |     19477 | NS      | $952695.22    | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| AXA SA                                         | AXA SA                                      | CUSIP: N/A<br>LEI: F5WCUMTUM4RKZ1MAIE39       | Long             | EC               | CORP              | FR        |     24844 | NS      | $691944.16    | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| HARBOUR ENERGY PLC                             | HARBOUR ENERGY PLC                          | CUSIP: N/A<br>LEI: 213800YPC42DYBKVPF97       | Long             | EC               | CORP              | GB        |    142991 | NS      | $527563.70    | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Roche Holding AG                               | ROCHE HOLDING AG                            | CUSIP: N/A<br>LEI: 549300U41AUUVOAAOB37       | Long             | EC               | CORP              | CH        |      2511 | NS      | $789263.90    | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| Hana Financial Group Inc.                      | HANA FINANCIAL GROUP INC                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |     21285 | NS      | $708827.70    | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Swiss Life Holding AG                          | SWISS LIFE HOLDING AG                       | CUSIP: N/A<br>LEI: 5493000KUC3Z24U77V93       | Long             | EC               | CORP              | CH        |      1317 | NS      | $679043.08    | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| WOODSIDE ENERGY GROUP LTD                      | WOODSIDE ENERGY GROUP LTD                   | CUSIP: N/A<br>LEI: 2549005ZC5RXAOO7FH41       | Long             | EC               | CORP              | AU        |     43719 | NS      | $1058559.60   | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Koninklijke Ahold Delhaize N.V.                | KONINKLIJKE AHOLD DELHAIZE NV               | CUSIP: N/A<br>LEI: 724500C9GNBV20UYRX36       | Long             | EC               | CORP              | NL        |     49154 | NS      | $1413038.84   | 0.74%             |  |  |  | No            |                  2 | On Loan: No      |
| WPP PLC                                        | WPP PLC                                     | CUSIP: N/A<br>LEI: 549300LSGBXPYHXGDT93       | Long             | EC               | CORP              | JE        |     46586 | NS      | $460171.25    | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| ARISTOCRAT LEISURE LIMITED                     | ARISTOCRAT LEISURE LTD                      | CUSIP: N/A<br>LEI: 529900TE2HO3OZKYKC27       | Long             | EC               | CORP              | AU        |     25881 | NS      | $533179.91    | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| EXXARO RESOURCES LIMITED                       | EXXARO RESOURCES LTD                        | CUSIP: N/A<br>LEI: 378900BC3D9BFF4E4A37       | Long             | EC               | CORP              | ZA        |     42429 | NS      | $544298.86    | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP INC. | NEW ORIENTAL EDUCATION TECHNOLOGY GROUP INC | CUSIP: N/A<br>LEI: 529900NHZVBZQZ8EKN29       | Long             | EC               | CORP              | KY        |    198000 | NS      | $698001.94    | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Headwater Exploration Inc                      | HEADWATER EXPLORATION INC                   | CUSIP: 422096107<br>LEI: 549300XIU4JQ0GKLRG88 | Long             | EC               | CORP              | CA        |    125512 | NS      | $548848.46    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| INFORMA PLC                                    | INFORMA PLC                                 | CUSIP: N/A<br>LEI: 5493006VM2LKUPSEDU20       | Long             | EC               | CORP              | GB        |     96746 | NS      | $721548.81    | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung Engineering Co., Ltd.                  | SAMSUNG ENGINEERING CO LTD                  | CUSIP: N/A<br>LEI: 988400HDAY5KIVHGZ188       | Long             | EC               | CORP              | KR        |     37663 | NS      | $666339.50    | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| CAPGEMINI SE                                   | CAPGEMINI SA                                | CUSIP: N/A<br>LEI: 96950077L0TN7BAROX36       | Long             | EC               | CORP              | FR        |      6567 | NS      | $1097689.29   | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| ARKEMA SA                                      | ARKEMA SA                                   | CUSIP: N/A<br>LEI: 9695000EHMS84KKP2785       | Long             | EC               | CORP              | FR        |      7407 | NS      | $666126.83    | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| ADVANTEST CORPORATION                          | ADVANTEST CORP                              | CUSIP: N/A<br>LEI: 353800EMK32PDKS9XR54       | Long             | EC               | CORP              | JP        |     11100 | NS      | $711047.73    | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| COMPAGNIE FINANCIERE RICHEMONT SA              | CIE FINANCIERE RICHEMONT SA                 | CUSIP: N/A<br>LEI: 549300YIPGJ6UX2QPS51       | Long             | EC               | CORP              | CH        |     13527 | NS      | $1754384.65   | 0.92%             |  |  |  | No            |                  2 | On Loan: No      |
| ITOCHU Corporation                             | ITOCHU CORPORATION                          | CUSIP: N/A<br>LEI: J48DJYXDTLHM30UMYI18       | Long             | EC               | CORP              | JP        |     49700 | NS      | $1559463.53   | 0.81%             |  |  |  | No            |                  2 | On Loan: No      |
| Stellantis N.V.                                | STELLANTIS NV                               | CUSIP: N/A<br>LEI: 549300LKT9PW7ZIBDF31       | Long             | EC               | CORP              | NL        |    126988 | NS      | $1804287.98   | 0.94%             |  |  |  | No            |                  2 | On Loan: No      |
| SUBARU CORPORATION                             | SUBARU CORP                                 | CUSIP: N/A<br>LEI: 549300N244BVAEE6HH86       | Long             | EC               | CORP              | JP        |     39600 | NS      | $599638.48    | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Telekom AG                            | DEUTSCHE TELEKOM AG REG                     | CUSIP: N/A<br>LEI: 549300V9QSIG4WX4GJ96       | Long             | EC               | CORP              | DE        |     89774 | NS      | $1785941.07   | 0.93%             |  |  |  | No            |                  2 | On Loan: No      |
| JYP Entertainment Corporation                  | JYP ENTERTAINMENT CORP                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |     18216 | NS      | $978663.31    | 0.51%             |  |  |  | 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