# EDGAR Filing Document

**Accession Number:** 0000802716
**File Stem:** 0001752724-23-041021
**Filing Date:** 2023-2
**Character Count:** 35167
**Document Hash:** fb3a3b6f1b023b3f28e890ded5436bb6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-041021.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001752724-23-041021

**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:** 23670806

**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 Munder Multi-Cap Fund (Series ID: S000046395)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000144984 | Class A      | MNNAX           |
| C000144985 | Class C      | MNNCX           |
| C000144987 | Class Y      | MNNYX           |

## 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 Munder Multi-Cap Fund

- **b. EDGAR series identifier (if any):** S000046395

- **c. LEI of Series:** 549300U0TGCDD030GT65

**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:** $373286325.29

**Total Liabilities:** $9199908.03

**Net Assets:** $364086417.26

**Cash Not Reported:** $8746923.45

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000144987 | 9.92%                | 3.46%                | -6.44%               |
| Class ID C000144984 | 9.90%                | 3.41%                | -6.45%               |
| Class ID C000144985 | 9.83%                | 3.33%                | -6.53%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-5943379.53             | $41904263.20                               |
| Month 2  | $6729573.00              | $6323929.52                                |
| Month 3  | $455949.18               | $-26208839.29                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| WESTERN ALLIANCE BANCORPORATION                | WESTERN ALLIANCE BANCORP          | CUSIP: 957638109<br>LEI: 5493003VJXZ5JXT9S762 | Long             | EC               | CORP              | US        |     55900 | NS      | $3329404.00   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| WALMART INC.                                   | WALMART INC                       | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |     25200 | NS      | $3573108.00   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| LPL FINANCIAL HOLDINGS INC.                    | LPL FINANCIAL HOLDINGS INC        | CUSIP: 50212V100<br>LEI: 549300XROQ4Y8G2L7682 | Long             | EC               | CORP              | US        |      8200 | NS      | $1772594.00   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| OLD DOMINION FREIGHT LINE, INC.                | OLD DOMINION FREIGHT LINE INC     | CUSIP: 679580100<br>LEI: 5299009TWK32WE417T96 | Long             | EC               | CORP              | US        |      8200 | NS      | $2326996.00   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| SKYLINE CHAMPION CORPORATION                   | SKYLINE CHAMPION CORP             | CUSIP: 830830105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     66400 | NS      | $3420264.00   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| THE BANCORP, INC.                              | BANCORP INC THE                   | CUSIP: 05969A105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    134200 | NS      | $3808596.00   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| JABIL INC.                                     | JABIL INC                         | CUSIP: 466313103<br>LEI: 5493000CGCQY2OQU7669 | Long             | EC               | CORP              | US        |     76400 | NS      | $5210480.00   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Customers Bancorp, Inc.                        | CUSTOMERS BANCORP INC             | CUSIP: 23204G100<br>LEI: 549300WLBCHYKZ53FN68 | Long             | EC               | CORP              | US        |     47700 | NS      | $1351818.00   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| ULTA BEAUTY, INC.                              | ULTA BEAUTY INC                   | CUSIP: 90384S303<br>LEI: 529900CIV6HN8M28YM82 | Long             | EC               | CORP              | US        |      4600 | NS      | $2157722.00   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORPORATION                    | BANK OF AMERICA CORP              | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |     65900 | NS      | $2182608.00   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERISOURCEBERGEN CORPORATION                  | AMERISOURCEBERGEN CORP            | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |     24200 | NS      | $4010182.00   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| GROUP 1 AUTOMOTIVE, INC.                       | GROUP 1 AUTOMOTIVE INC            | CUSIP: 398905109<br>LEI: 549300US8QAZJLWYAF63 | Long             | EC               | CORP              | US        |     20900 | NS      | $3769733.00   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Russell 3000 Index Fund                | ISHARES RUSSELL 3000 ETF          | CUSIP: 464287689<br>LEI: N/A                  | Long             |  | RF                | US        |     29300 | NS      | $6465924.00   | 1.78%             |  |  |  | No            |                  1 | On Loan: —       |
| NVIDIA CORPORATION                             | NVIDIA CORP                       | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     24400 | NS      | $3565816.00   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| BJ'S WHOLESALE CLUB HOLDINGS, INC.             | BJ S WHOLESALE CLUB HOLDINGS INC  | CUSIP: 05550J101<br>LEI: 549300UCIWH1C93V0J03 | Long             | EC               | CORP              | US        |     55300 | NS      | $3658648.00   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLE INC.                                     | APPLE INC                         | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |    110880 | NS      | $14406638.40  | 3.96%             |  |  |  | No            |                  1 | On Loan: No      |
| THE CHARLES SCHWAB CORPORATION                 | THE CHARLES SCHWAB CORP           | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |     71900 | NS      | $5986394.00   | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| MERITAGE HOMES CORPORATION                     | MERITAGE CORPORATION              | CUSIP: 59001A102<br>LEI: 52990044W9UMFJO2FB97 | Long             | EC               | CORP              | US        |     23500 | NS      | $2166700.00   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| RAYTHEON TECHNOLOGIES CORPORATION              | RAYTHEON TECHNOLOGIES             | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |     19800 | NS      | $1998216.00   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| MICROSOFT CORPORATION                          | MICROSOFT CORP                    | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     63160 | NS      | $15147031.20  | 4.16%             |  |  |  | No            |                  1 | On Loan: No      |
| BROADCOM INC.                                  | BROADCOM INC                      | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     13600 | NS      | $7604168.00   | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| INVESCO GOVERNMENT & AGENCY PORTFOLIO          | INVESCO GVT & AGNCY-INST          | CUSIP: 825252885<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    519206 | NS      | $519206.25    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| WESCO INTERNATIONAL, INC.                      | WESCO INTERNATIONAL               | CUSIP: 95082P105<br>LEI: 529900TXOGREY3WNJ434 | Long             | EC               | CORP              | US        |     17100 | NS      | $2140920.00   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| PFIZER INC.                                    | PFIZER INC                        | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |     94200 | NS      | $4826808.00   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| BOX, INC.                                      | BOX INC CLASS A                   | CUSIP: 10316T104<br>LEI: 549300KQUCPD8687YS68 | Long             | EC               | CORP              | US        |     44700 | NS      | $1391511.00   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| WORLD WRESTLING ENTERTAINMENT, INC.            | WORLD WRESTLING ENTERTAINMENT INC | CUSIP: 98156Q108<br>LEI: 549300WZVLSCS3L4L698 | Long             | EC               | CORP              | US        |     67400 | NS      | $4618248.00   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| TESLA, INC.                                    | TESLA INC                         | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |     12100 | NS      | $1490478.00   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO.                           | JPMORGAN CHASE CO                 | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     25600 | NS      | $3432960.00   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| ASBURY AUTOMOTIVE GROUP, INC.                  | ASBURY AUTOMOTIVE GROUP INC       | CUSIP: 043436104<br>LEI: 549300JH4DTA7U42GL91 | Long             | EC               | CORP              | US        |     21600 | NS      | $3871800.00   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| MSILF Government Portfolio                     | MSILF GOVERNMENT-INST             | CUSIP: 61747C707<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    519206 | NS      | $519206.25    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| CHIPOTLE MEXICAN GRILL, INC.                   | CHIPOTLE MEXICAN GRILL INC        | CUSIP: 169656105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2600 | NS      | $3607474.00   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| UFP INDUSTRIES, INC.                           | UFP INDUSTRIES INC                | CUSIP: 90278Q108<br>LEI: 5493007KB485C9OV5572 | Long             | EC               | CORP              | US        |     48900 | NS      | $3875325.00   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| ARISTA NETWORKS, INC.                          | ARISTA NETWORKS INC               | CUSIP: 040413106<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |     30100 | NS      | $3652635.00   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| MICROCHIP TECHNOLOGY INCORPORATED              | MICROCHIP TECHNOLOGY INC          | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |     76000 | NS      | $5339000.00   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| BRUNSWICK CORPORATION                          | BRUNSWICK CORP                    | CUSIP: 117043109<br>LEI: YM4O38W15AX4YLLQKU27 | Long             | EC               | CORP              | US        |     44500 | NS      | $3207560.00   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| MAGNOLIA OIL & GAS CORPORATION                 | MAGNOLIA OIL GAS CORP             | CUSIP: 559663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    158900 | NS      | $3726205.00   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| MATADOR RESOURCES COMPANY                      | MATADOR RESOURCES CO              | CUSIP: 576485205<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | EC               | CORP              | US        |     46100 | NS      | $2638764.00   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| GRAPHIC PACKAGING HOLDING COMPANY              | GRAPHIC PACKAGING HOLDING CO      | CUSIP: 388689101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    156800 | NS      | $3488800.00   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| THE WALT DISNEY COMPANY                        | WALT DISNEY CO THE                | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |     21900 | NS      | $1902672.00   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| BUILDERS FIRSTSOURCE, INC.                     | BUILDERS FIRSTSOURCE INC          | CUSIP: 12008R107<br>LEI: 549300W0SKP6L3H7DP63 | Long             | EC               | CORP              | US        |     37500 | NS      | $2433000.00   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| MCDONALD'S CORPORATION                         | MCDONALD S CORP                   | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |      7900 | NS      | $2081887.00   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| CHEVRON CORPORATION                            | CHEVRON CORP                      | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     37610 | NS      | $6750618.90   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| ELEVANCE HEALTH, INC.                          | ELEVANCE HEALTH INC               | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |     12300 | NS      | $6309531.00   | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLIED MATERIALS, INC.                        | APPLIED MATERIALS INC             | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |     17400 | NS      | $1694412.00   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| SIGNATURE BANK                                 | SIGNATURE BANK NEW YORK NY        | CUSIP: 82669G104<br>LEI: VLP5AP0XK2GM6GKD1007 | Long             | EC               | CORP              | US        |     17500 | NS      | $2016350.00   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| LOWE'S COMPANIES, INC.                         | LOWE S COS INC                    | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |     11000 | NS      | $2191640.00   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC US GOVERNMENT MONEY MARKET FUND           | HSBC US GOVT MMKT-I               | CUSIP: 40428X107<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    519206 | NS      | $519206.25    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| HUNTINGTON INGALLS INDUSTRIES, INC.            | HUNTINGTON INGALLS INDUSTRIES INC | CUSIP: 446413106<br>LEI: 5TZLZ6WJTBVJ0QWBG121 | Long             | EC               | CORP              | US        |      8769 | NS      | $2022832.92   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| STRYKER CORPORATION                            | STRYKER CORP                      | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |      7900 | NS      | $1931471.00   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG RESOURCES, INC.                            | EOG RESOURCES INC                 | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |     21600 | NS      | $2797632.00   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| PERFORMANCE FOOD GROUP COMPANY                 | PERFORMANCE FOOD GROUP CO         | CUSIP: 71377A103<br>LEI: 549300EUK8GR9IT1YK57 | Long             | EC               | CORP              | US        |     73600 | NS      | $4297504.00   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Chubb Limited                                  | CHUBB LIMITED                     | CUSIP: H1467J104<br>LEI: E0JAN6VLUDI1HITHT809 | Long             | EC               | CORP              | CH        |     30400 | NS      | $6706240.00   | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| GXO LOGISTICS, INC.                            | GXO LOGISTICS INC                 | CUSIP: 36262G101<br>LEI: 5493007CNWMXN78JRN66 | Long             | EC               | CORP              | US        |     95500 | NS      | $4076895.00   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Philip Morris International Inc.               | PHILIP MORRIS INTERNATIONAL INC   | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |     55200 | NS      | $5586792.00   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| VISA INC.                                      | VISA INC CLASS A                  | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |     19000 | NS      | $3947440.00   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Pepsico, Inc.                                  | PEPSICO INC                       | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |     29300 | NS      | $5293338.00   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| NMI HOLDINGS, INC.                             | NMI HOLDINGS INC                  | CUSIP: 629209305<br>LEI: 529900KNNGFXJX1C3Z08 | Long             | EC               | CORP              | US        |    203100 | NS      | $4244790.00   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| DARLING INGREDIENTS INC.                       | DARLING INGREDIENTS INC           | CUSIP: 237266101<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | EC               | CORP              | US        |     78100 | NS      | $4888279.00   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| AXOS FINANCIAL, INC.                           | AXOS FINANCIAL INC                | CUSIP: 05465C100<br>LEI: 529900D8M56422GK9O25 | Long             | EC               | CORP              | US        |     53000 | NS      | $2025660.00   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| DIAMONDBACK ENERGY, INC.                       | DIAMONDBACK ENERGY INC            | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |     25600 | NS      | $3501568.00   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| MARTEN TRANSPORT, LTD.                         | MARTEN TRANS LTD                  | CUSIP: 573075108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    128000 | NS      | $2531840.00   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| THE ENSIGN GROUP, INC.                         | ENSIGN GROUP INC THE              | CUSIP: 29358P101<br>LEI: 5493003K4HEEA8Q0BC72 | Long             | EC               | CORP              | US        |     41100 | NS      | $3888471.00   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY                                 | MORGAN STANLEY                    | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |     41700 | NS      | $3545334.00   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Schlumberger N.V.                              | SCHLUMBERGER LTD                  | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | CW        |     81700 | NS      | $4367682.00   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERIPRISE FINANCIAL, INC.                     | AMERIPRISE FINANCIAL INC          | CUSIP: 03076C106<br>LEI: 6ZLKQF7QB6JAEKQS5388 | Long             | EC               | CORP              | US        |     17500 | NS      | $5448975.00   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| SUMMIT MATERIALS, INC.                         | SUMMIT MATERIALS INC CLASS A      | CUSIP: 86614U100<br>LEI: 549300XNOLX5GIOSO108 | Long             | EC               | CORP              | US        |    108430 | NS      | $3078327.70   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| CHART INDUSTRIES, INC.                         | CHART INDUSTRIES INC              | CUSIP: 16115Q308<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | EC               | CORP              | US        |     23100 | NS      | $2661813.00   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| REGENERON PHARMACEUTICALS, INC.                | REGENERON PHARMACEUTICALS INC     | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |      3700 | NS      | $2669513.00   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| FABRINET                                       | FABRINET                          | CUSIP: G3323L100<br>LEI: 5493004TETZ6IYF7CV44 | Long             | EC               | CORP              | KY        |     42000 | NS      | $5385240.00   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERACTIVE BROKERS GROUP, INC.                | INTERACTIVE BROKERS GROUP INC     | CUSIP: 45841N107<br>LEI: 5493004DT6DCDUZNDM53 | Long             | EC               | CORP              | US        |     77600 | NS      | $5614360.00   | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN TOWER CORPORATION                     | AMERICAN TOWER CORP REIT          | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |     11100 | NS      | $2351646.00   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| VERRA MOBILITY CORPORATION                     | VERRA MOBILITY CORP               | CUSIP: 92511U102<br>LEI: 549300XX5EKGLR0M4152 | Long             | EC               | CORP              | US        |    232400 | NS      | $3214092.00   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBE LIFE INC.                                | GLOBE LIFE INC                    | CUSIP: 37959E102<br>LEI: 5493001JFHKQOPP6XA71 | Long             | EC               | CORP              | US        |     33400 | NS      | $4026370.00   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| ALPHABET INC.                                  | ALPHABET INC CLASS A              | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    112960 | NS      | $9966460.80   | 2.74%             |  |  |  | No            |                  1 | On Loan: No      |
| AGCO CORPORATION                               | AGCO CORP                         | CUSIP: 001084102<br>LEI: LYOM0B2GCF1JWXK5ZG04 | Long             | EC               | CORP              | US        |     29400 | NS      | $4077486.00   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| CADENCE DESIGN SYSTEMS, INC.                   | CADENCE DESIGN SYSTEMS INC        | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |     36700 | NS      | $5895488.00   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| MCKESSON CORPORATION                           | MCKESSON CORP                     | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |      5900 | NS      | $2213208.00   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| TEXAS ROADHOUSE, INC.                          | TEXAS ROADHOUSE INC               | CUSIP: 882681109<br>LEI: 5299002Y1CNRPDGXTQ75 | Long             | EC               | CORP              | US        |     23300 | NS      | $2119135.00   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM INCORPORATED                          | QUALCOMM INC                      | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |     16100 | NS      | $1770034.00   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| CIGNA CORPORATION                              | CIGNA CORP                        | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |     18800 | NS      | $6229192.00   | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITEDHEALTH GROUP INCORPORATED                | UNITEDHEALTH GROUP INC            | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |     14525 | NS      | $7700864.50   | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| AMAZON.COM, INC.                               | AMAZON COM INC                    | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     36200 | NS      | $3040800.00   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| SIMON PROPERTY GROUP, INC.                     | SIMON PROPERTY GROUP INC          | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |     27400 | NS      | $3218952.00   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| SERVISFIRST BANCSHARES, INC.                   | SERVISFIRST BANCSHARES INC        | CUSIP: 81768T108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     63200 | NS      | $4355112.00   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCK & CO., INC.                              | MERCK CO INC                      | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |     36100 | NS      | $4005295.00   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| HALLIBURTON COMPANY                            | HALLIBURTON CO                    | CUSIP: 406216101<br>LEI: ENYF8GB5SMQZ25S06U51 | Long             | EC               | CORP              | US        |    136200 | NS      | $5359470.00   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| THERMO FISHER SCIENTIFIC INC.                  | THERMO FISHER SCIENTIFIC INC      | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |      6400 | NS      | $3524416.00   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS FINANCIAL SQUARE GOVERNMENT FUND | GLDMN SCHS FIN SQ GV-FST          | CUSIP: 38141W273<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    519206 | NS      | $519206.25    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| CLEAN HARBORS, INC.                            | CLEAN HARBORS INC                 | CUSIP: 184496107<br>LEI: 5493000SJVZVZJKHJF48 | Long             | EC               | CORP              | US        |     44500 | NS      | $5078340.00   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Clearfield, Inc.                               | CLEARFIELD INC                    | CUSIP: 18482P103<br>LEI: 529900M4S2OQ1ADPR537 | Long             | EC               | CORP              | US        |     19200 | NS      | $1807488.00   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| ON SEMICONDUCTOR CORPORATION                   | ON SEMICONDUCTOR CORP             | CUSIP: 682189105<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | EC               | CORP              | US        |     52300 | NS      | $3261951.00   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| VALLEY NATIONAL BANCORP                        | VALLEY NATIONAL BANCORP           | CUSIP: 919794107<br>LEI: 549300ET52S1UBIB9762 | Long             | EC               | CORP              | US        |    179000 | NS      | $2024490.00   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| ADVANCED MICRO DEVICES, INC.                   | ADVANCED MICRO DEVICES INC        | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |     32000 | NS      | $2072640.00   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXSTAR MEDIA GROUP, INC.                      | NEXSTAR MEDIA GROUP INC           | CUSIP: 65336K103<br>LEI: 52990083ZRR5UT591988 | Long             | EC               | CORP              | US        |     27800 | NS      | $4865834.00   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| ICON PUBLIC LIMITED COMPANY                    | ICON PLC                          | CUSIP: G4705A100<br>LEI: 6354008SRQGEMC4XFI67 | Long             | EC               | CORP              | IE        |     24700 | NS      | $4797975.00   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

**Name of Applicant:** Victory Portfolios

**Signature:** Allan Shaer

**Name of Signer:** Allan Shaer

**Title:** Treasurer