# EDGAR Filing Document

**Accession Number:** 0000802716
**File Stem:** 0001004726-26-004268
**Filing Date:** 2026-5
**Character Count:** 32480
**Document Hash:** 0faa97ecc3f41f60340dd2fd01722ca0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001004726-26-004268.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0001004726-26-004268

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**PERIOD START**: 20261231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VICTORY PORTFOLIOS
- **CENTRAL INDEX KEY:** 0000802716

**ORGANIZATION NAME:**
- **EIN:** 316364605
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04852
- **FILM NUMBER:** 261032886

**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 RS International Fund (Series ID: S000053564)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000168344 | Class A      | GUBGX           |
| C000168345 | Class C      | RIGCX           |
| C000168346 | Class R      | RIGKX           |
| C000168347 | Class Y      | RSIGX           |
| C000213174 | Class R6     | RSIRX           |

## 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:** 15935 La Cantera Parkway Building Two

  - **City:** San Antonio

  - **State:** TX

  - **Foreign country:** US

  - **Zip / Postal Code:** 78256

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

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

- **a. Name of Series:** Victory RS International Fund

- **b. EDGAR series identifier (if any):** S000053564

- **c. LEI of Series:** 549300JEPV6NYZT1OP94

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

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**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:** $625552144.67

**Total Liabilities:** $6172074.86

**Net Assets:** $619380069.81

**Cash Not Reported:** $5108361.52

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000168346 | 5.54%                | 3.84%                | -8.15%               |
| Class ID C000168344 | 5.55%                | 3.90%                | -8.17%               |
| Class ID C000168345 | 5.47%                | 3.87%                | -8.20%               |
| Class ID C000168347 | 5.58%                | 3.91%                | -8.14%               |
| Class ID C000213174 | 5.56%                | 3.90%                | -8.14%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-715493.03              | $33686438.48                               |
| Month 2  | $-4005604.92             | $28847767.13                               |
| Month 3  | $652523.88               | $-59357543.23                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| HSBC US GOVERNMENT MONEY MARKET FUND           | HSBC US GOVT MMKT-I                 | CUSIP: 40428X107<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   1403824 | NS      | $1403824.00   | 0.23%             |  |  |  | No            | 1                  | On Loan: No      |
| FISHER & PAYKEL HEALTHCARE CORPORATION LIMITED | FISHER PAYKEL HEALTHCARE CORP LTD   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | NZ        |    205631 | NS      | $4456846.54   | 0.72%             |  |  |  | No            | 2                  | On Loan: No      |
| MISUMI Group Inc.                              | MISUMI GROUP INC                    | CUSIP: J43293109<br>LEI: 353800SJWGE5BEK2V032 | Long             | EC               | CORP              | JP        |    324900 | NS      | $5569889.01   | 0.90%             |  |  |  | No            | 2                  | On Loan: No      |
| NOVO NORDISK A/S                               | NOVO NORDISK                        | CUSIP: N/A<br>LEI: 549300DAQ1CVT6CXN342       | Long             | EC               | CORP              | DK        |     67277 | NS      | $2462308.54   | 0.40%             |  |  |  | No            | 2                  | On Loan: No      |
| HOWDEN JOINERY GROUP PLC                       | HOWDEN JOINERY GROUP PLC            | CUSIP: N/A<br>LEI: 213800KC1LJOJTY3JP45       | Long             | EC               | CORP              | GB        |    450957 | NS      | $4775709.06   | 0.77%             |  |  |  | No            | 2                  | On Loan: No      |
| Nestle S.A.                                    | NESTLE SA                           | CUSIP: N/A<br>LEI: KY37LUS27QQX7BB93L28       | Long             | EC               | CORP              | CH        |    138504 | NS      | $13589395.45  | 2.19%             |  |  |  | No            | 2                  | On Loan: No      |
| Mitsubishi Heavy Industries, Ltd.              | MITSUBISHI HEAVY INDUSTRIES LT      | CUSIP: N/A<br>LEI: 353800TJ98PCAZROVE69       | Long             | EC               | CORP              | JP        |    376100 | NS      | $10334946.61  | 1.67%             |  |  |  | No            | 2                  | On Loan: No      |
| Nordea Bank Abp                                | NORDEA BANK ABP                     | CUSIP: N/A<br>LEI: 529900ODI3047E2LIV03       | Long             | EC               | CORP              | FI        |    474602 | NS      | $8171153.44   | 1.32%             |  |  |  | No            | 2                  | On Loan: No      |
| ASICS Corporation                              | ASICS CORP                          | CUSIP: N/A<br>LEI: 3538002LJMRZ83SU0B85       | Long             | EC               | CORP              | JP        |    250300 | NS      | $6729975.30   | 1.09%             |  |  |  | No            | 2                  | On Loan: No      |
| Mizuho Financial Group, Inc.                   | MIZUHO FINANCIAL GROUP INC          | CUSIP: N/A<br>LEI: 353800CI5L6DDAN5XZ33       | Long             | EC               | CORP              | JP        |    325800 | NS      | $13190854.63  | 2.13%             |  |  |  | No            | 2                  | On Loan: No      |
| REXEL SA                                       | REXEL SA                            | CUSIP: N/A<br>LEI: 969500N6AVPA51648T62       | Long             | EC               | CORP              | FR        |    170369 | NS      | $6750137.72   | 1.09%             |  |  |  | No            | 2                  | On Loan: No      |
| ARKEMA SA                                      | ARKEMA SA                           | CUSIP: N/A<br>LEI: 9695000EHMS84KKP2785       | Long             | EC               | CORP              | FR        |     64314 | NS      | $4415068.68   | 0.71%             |  |  |  | No            | 2                  | On Loan: No      |
| SHELL PLC                                      | SHELL PLC                           | CUSIP: N/A<br>LEI: 21380068P1DRHMJ8KU70       | Long             | EC               | CORP              | GB        |    350253 | NS      | $16219519.30  | 2.62%             |  |  |  | No            | 2                  | On Loan: No      |
| SWEDISH KRONE                                  | SWEDISH KRONE                       | CUSIP: N/A<br>LEI: N/A                        | N/A              |  |  | SE        |        22 | NS      | $2.30         | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| Allianz SE                                     | ALLIANZ SE                          | CUSIP: N/A<br>LEI: 529900K9B0N5BT694847       | Long             | EC               | CORP              | DE        |     38456 | NS      | $16238499.55  | 2.62%             |  |  |  | No            | 2                  | On Loan: No      |
| BHP GROUP LIMITED                              | BHP GROUP LIMITED                   | CUSIP: N/A<br>LEI: WZE1WSENV6JSZFK0JC28       | Long             | EC               | CORP              | AU        |    405856 | NS      | $14681654.91  | 2.37%             |  |  |  | No            | 2                  | On Loan: No      |
| Shionogi & Co., Ltd.                           | SHIONOGI CO LTD                     | CUSIP: N/A<br>LEI: 35380049VXDTHZI3DY35       | Long             | EC               | CORP              | JP        |    345500 | NS      | $7643508.36   | 1.23%             |  |  |  | No            | 2                  | On Loan: No      |
| SINGAPORE EXCHANGE LIMITED                     | SINGAPORE EXCHANGE LTD              | CUSIP: N/A<br>LEI: 549300IQ650PPXM76X03       | Long             | EC               | CORP              | SG        |    465800 | NS      | $7107497.88   | 1.15%             |  |  |  | No            | 2                  | On Loan: No      |
| GSK PLC                                        | GSK PLC                             | CUSIP: N/A<br>LEI: 5493000HZTVUYLO1D793       | Long             | EC               | CORP              | GB        |    389785 | NS      | $10735180.74  | 1.73%             |  |  |  | No            | 2                  | On Loan: No      |
| DANISH KRONER                                  | DANISH KRONER                       | CUSIP: N/A<br>LEI: N/A                        | N/A              |  |  | DK        |    390442 | NS      | $60399.74     | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| MSILF Government Portfolio                     | MSILF GOVERNMENT-INST               | CUSIP: 61747C707<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   1403824 | NS      | $1403824.00   | 0.23%             |  |  |  | No            | 1                  | On Loan: No      |
| RWE Aktiengesellschaft                         | RWE AG                              | CUSIP: N/A<br>LEI: 529900GB7KCA94ACC940       | Long             | EC               | CORP              | DE        |    103770 | NS      | $6980585.07   | 1.13%             |  |  |  | No            | 2                  | On Loan: No      |
| Pandora A/S                                    | PANDORA A S                         | CUSIP: N/A<br>LEI: 5299007OWYZ6I1E46843       | Long             | EC               | CORP              | DK        |     24598 | NS      | $1758359.53   | 0.28%             |  |  |  | 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        |     14958 | NS      | $8175684.80   | 1.32%             |  |  |  | No            | 2                  | On Loan: No      |
| GREAT BRITISH POUND                            | GREAT BRITISH POUND                 | CUSIP: N/A<br>LEI: N/A                        | N/A              |  |  | GB        |    184490 | NS      | $244154.12    | 0.04%             |  |  |  | No            | N/A                | On Loan: No      |
| Heidelberg Materials AG                        | HEIDELBERG MATERIALS AG             | CUSIP: N/A<br>LEI: LZ2C6E0W5W7LQMX5ZI37       | Long             | EC               | CORP              | DE        |     21788 | NS      | $4597446.66   | 0.74%             |  |  |  | No            | 2                  | On Loan: No      |
| Sumitomo Realty & Development Co., Ltd.        | SUMITOMO REALTY DEVELOPMENT         | CUSIP: N/A<br>LEI: 353800SO2DCLOI3LNZ64       | Long             | EC               | CORP              | JP        |    299200 | NS      | $8490841.46   | 1.37%             |  |  |  | No            | 2                  | On Loan: No      |
| BANCO BPM SOCIETA PER AZIONI                   | BANCO BPM SPA                       | CUSIP: N/A<br>LEI: 815600E4E6DCD2D25E30       | Long             | EC               | CORP              | IT        |    500431 | NS      | $6960305.35   | 1.12%             |  |  |  | No            | 2                  | On Loan: No      |
| L'OREAL SA                                     | L OREAL SA                          | CUSIP: N/A<br>LEI: 529900JI1GG6F7RKVI53       | Long             | EC               | CORP              | FR        |     22812 | NS      | $9312674.87   | 1.50%             |  |  |  | No            | 2                  | On Loan: No      |
| Logitech international S.A.                    | LOGITECH INTERNATIONAL SA           | CUSIP: N/A<br>LEI: 549300SN6PRK6IJJC215       | Long             | EC               | CORP              | CH        |     45463 | NS      | $4222955.20   | 0.68%             |  |  |  | No            | 2                  | On Loan: No      |
| ARISTOCRAT LEISURE LIMITED                     | ARISTOCRAT LEISURE LTD              | CUSIP: N/A<br>LEI: 529900TE2HO3OZKYKC27       | Long             | EC               | CORP              | AU        |    175960 | NS      | $5591700.30   | 0.90%             |  |  |  | No            | 2                  | On Loan: No      |
| MACQUARIE GROUP LIMITED                        | MACQUARIE GROUP LTD                 | CUSIP: N/A<br>LEI: ACMHD8HWFMFUIQQ8Y590       | Long             | EC               | CORP              | AU        |     47074 | NS      | $6685705.87   | 1.08%             |  |  |  | No            | 2                  | On Loan: No      |
| ASML Holding N.V.                              | ASML HOLDING N V                    | CUSIP: N/A<br>LEI: 724500Y6DUVHQD6OXN27       | Long             | EC               | CORP              | NL        |     17810 | NS      | $23679779.35  | 3.82%             |  |  |  | No            | 2                  | On Loan: No      |
| RIO TINTO PLC                                  | RIO TINTO PLC                       | CUSIP: N/A<br>LEI: 213800YOEO5OQ72G2R82       | Long             | EC               | CORP              | GB        |    122941 | NS      | $11403952.48  | 1.84%             |  |  |  | No            | 2                  | On Loan: No      |
| Novartis AG                                    | NOVARTIS AG                         | CUSIP: N/A<br>LEI: 5493007HIVTX6SY6XD66       | Long             | EC               | CORP              | CH        |    123175 | NS      | $18911392.59  | 3.05%             |  |  |  | No            | 2                  | On Loan: No      |
| Coca-Cola HBC AG                               | COCA COLA HBC AG                    | CUSIP: N/A<br>LEI: 549300EFP3TNG7JGVE49       | Long             | EC               | CORP              | CH        |    129783 | NS      | $7309462.98   | 1.18%             |  |  |  | No            | 2                  | On Loan: No      |
| TOYOTA MOTOR CORPORATION                       | TOYOTA MOTOR CORP                   | CUSIP: N/A<br>LEI: 5493006W3QUS5LMH6R84       | Long             | EC               | CORP              | JP        |    757600 | NS      | $15749972.30  | 2.54%             |  |  |  | No            | 2                  | On Loan: No      |
| AIA Group Limited                              | AIA GROUP LTD                       | CUSIP: N/A<br>LEI: ZP5ILWVSYE4LJGMMVD57       | Long             | EC               | CORP              | HK        |   1117800 | NS      | $12420552.99  | 2.01%             |  |  |  | No            | 2                  | On Loan: No      |
| BP P.L.C.                                      | BP PLC                              | CUSIP: N/A<br>LEI: 213800LH1BZH3DI6G760       | Long             | EC               | CORP              | GB        |    703365 | NS      | $5504262.47   | 0.89%             |  |  |  | No            | 2                  | On Loan: No      |
| Kakaku.com Inc                                 | KAKAKU COM INC                      | CUSIP: N/A<br>LEI: 353800KA15Y0DCPWYY65       | Long             | EC               | CORP              | JP        |    146300 | NS      | $1926086.37   | 0.31%             |  |  |  | No            | 2                  | On Loan: No      |
| UBS Group AG                                   | UBS GROUP AG                        | CUSIP: N/A<br>LEI: 549300SZJ9VS8SGXAN81       | Long             | EC               | CORP              | CH        |    131453 | NS      | $5127081.21   | 0.83%             |  |  |  | No            | 2                  | On Loan: No      |
| Tokio Marine Holdings, Inc.                    | TOKIO MARINE HOLDINGS INC           | CUSIP: N/A<br>LEI: 5299009QN2NZ191KLS29       | Long             | EC               | CORP              | JP        |    226700 | NS      | $10642515.12  | 1.72%             |  |  |  | No            | 2                  | On Loan: No      |
| HOYA CORPORATION                               | HOYA CORP                           | CUSIP: N/A<br>LEI: 353800X4VR3BHEUCJB42       | Long             | EC               | CORP              | JP        |     61500 | NS      | $10662669.31  | 1.72%             |  |  |  | No            | 2                  | On Loan: No      |
| EURO                                           | EURO                                | CUSIP: N/A<br>LEI: N/A                        | N/A              |  |  | XX        |     47571 | NS      | $54977.05     | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| CAPGEMINI SE                                   | CAPGEMINI SA                        | CUSIP: N/A<br>LEI: 96950077L0TN7BAROX36       | Long             | EC               | CORP              | FR        |      9242 | NS      | $1090395.36   | 0.18%             |  |  |  | No            | 2                  | On Loan: No      |
| ORACLE CORPORATION JAPAN                       | ORACLE CORP JAPAN                   | CUSIP: N/A<br>LEI: 529900MIMKY9RU60Z323       | Long             | EC               | CORP              | JP        |     69700 | NS      | $3795059.18   | 0.61%             |  |  |  | No            | 2                  | On Loan: No      |
| GAZTRANSPORT ET TECHNIGAZ SA                   | GAZTRANSPORT ET TECHNIGAZ SA        | CUSIP: N/A<br>LEI: 969500BVOHVZUUFWDT54       | Long             | EC               | CORP              | FR        |     16999 | NS      | $3997519.82   | 0.65%             |  |  |  | No            | 2                  | On Loan: No      |
| AUSTRALIAN DOLLAR                              | AUSTRALIAN DOLLAR                   | CUSIP: N/A<br>LEI: N/A                        | N/A              |  |  | AU        |    106571 | NS      | $73512.42     | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| Open House Group Co.,LTD.                      | OPEN HOUSE GROUP CO LTD             | CUSIP: N/A<br>LEI: 529900WQOGPBIJEHW865       | Long             | EC               | CORP              | JP        |     63400 | NS      | $4063797.89   | 0.66%             |  |  |  | No            | 2                  | On Loan: No      |
| BAWAG Group AG                                 | BAWAG GROUP AG                      | CUSIP: N/A<br>LEI: 529900S9YO2JHTIIDG38       | Long             | EC               | CORP              | AT        |     49105 | NS      | $7464311.11   | 1.21%             |  |  |  | Yes           | 2                  | On Loan: No      |
| Partners Group Holding AG                      | PARTNERS GROUP HOLDING AG           | CUSIP: N/A<br>LEI: 549300I3IVVWZWDHI788       | Long             | EC               | CORP              | CH        |      2925 | NS      | $3153471.85   | 0.51%             |  |  |  | No            | 2                  | On Loan: No      |
| IMPERIAL BRANDS PLC                            | IMPERIAL BRANDS PLC                 | CUSIP: N/A<br>LEI: 549300DFVPOB67JL3A42       | Long             | EC               | CORP              | GB        |    215663 | NS      | $8743329.62   | 1.41%             |  |  |  | No            | 2                  | On Loan: No      |
| SWISS FRANC                                    | SWISS FRANC                         | CUSIP: N/A<br>LEI: N/A                        | N/A              |  |  | CH        |     10316 | NS      | $12904.22     | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| EIFFAGE SA                                     | EIFFAGE SA                          | CUSIP: N/A<br>LEI: 969500OQXKE5WDM9M994       | Long             | EC               | CORP              | FR        |     49849 | NS      | $7644196.62   | 1.23%             |  |  |  | No            | 2                  | On Loan: No      |
| DISCO CORPORATION                              | DISCO CORP                          | CUSIP: N/A<br>LEI: 529900X0YGDYM51H4Q86       | Long             | EC               | CORP              | JP        |     22800 | NS      | $9293774.37   | 1.50%             |  |  |  | No            | 2                  | On Loan: No      |
| ENEL - SPA                                     | ENEL SPA                            | CUSIP: N/A<br>LEI: WOCMU6HCI0OJWNPRZS33       | Long             | EC               | CORP              | IT        |    825701 | NS      | $9026038.16   | 1.46%             |  |  |  | No            | 2                  | On Loan: No      |
| ING Groep N.V.                                 | ING GROEP NV                        | CUSIP: N/A<br>LEI: 549300NYKK9MWM7GGW15       | Long             | EC               | CORP              | NL        |    500330 | NS      | $12985161.13  | 2.10%             |  |  |  | No            | 2                  | On Loan: No      |
| AUTOTRADER GROUP PLC                           | AUTOTRADER GROUP PLC                | CUSIP: N/A<br>LEI: 213800QLK9BZILB1DI86       | Long             | EC               | CORP              | GB        |    122013 | NS      | $763573.44    | 0.12%             |  |  |  | Yes           | 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        |   1403824 | NS      | $1403824.00   | 0.23%             |  |  |  | No            | 1                  | On Loan: No      |
| SCENTRE GROUP                                  | SCENTRE GROUP                       | CUSIP: N/A<br>LEI: N/A                        | Long             |  | RF                | AU        |   2502577 | NS      | $5772993.30   | 0.93%             |  |  |  | No            | 2                  | On Loan: No      |
| CK ASSET HOLDINGS LIMITED                      | CK ASSET HOLDINGS LIMITED           | CUSIP: N/A<br>LEI: 5299006GJZSGP78B8S35       | Long             | EC               | CORP              | KY        |   1154500 | NS      | $6605974.72   | 1.07%             |  |  |  | No            | 2                  | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria, S.A.          | BANCO BILBAO VIZCAYA ARGENTARIA SA  | CUSIP: N/A<br>LEI: K8MS7FD7N5Z2WQ51AZ71       | Long             | EC               | CORP              | ES        |    664861 | NS      | $14358778.92  | 2.32%             |  |  |  | No            | 2                  | On Loan: No      |
| Sanwa Holdings Corporation                     | SANWA HOLDINGS CORP                 | CUSIP: N/A<br>LEI: 5299003X6BCA4ROO5A70       | Long             | EC               | CORP              | JP        |    214500 | NS      | $4878671.17   | 0.79%             |  |  |  | No            | 2                  | On Loan: No      |
| TOYO SUISAN KAISHA, LTD.                       | TOYO SUISAN KAISHA LTD              | CUSIP: 892306101<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     52600 | NS      | $3699481.40   | 0.60%             |  |  |  | No            | 2                  | On Loan: —       |
| KONGSBERG GRUPPEN ASA                          | KONGSBERG GRUPPEN ASA               | CUSIP: N/A<br>LEI: 5967007LIEEXZXJ9HK73       | Long             | EC               | CORP              | NO        |    217022 | NS      | $9268749.87   | 1.50%             |  |  |  | No            | 2                  | On Loan: No      |
| SAP SE                                         | SAP SE                              | CUSIP: N/A<br>LEI: 529900D6BF99LW9R2E68       | Long             | EC               | CORP              | DE        |     37371 | NS      | $6370250.16   | 1.03%             |  |  |  | No            | 2                  | On Loan: No      |
| CARNIVAL PLC                                   | CARNIVAL PLC                        | CUSIP: N/A<br>LEI: 4DR1VPDQMHD3N3QW8W95       | Long             | EC               | CORP              | GB        |    133251 | NS      | $3398442.20   | 0.55%             |  |  |  | No            | 2                  | On Loan: No      |
| BARCLAYS PLC                                   | BARCLAYS PLC                        | CUSIP: N/A<br>LEI: 213800LBQA1Y9L22JB70       | Long             | EC               | RF                | GB        |   1765617 | NS      | $9238924.69   | 1.49%             |  |  |  | No            | 2                  | On Loan: No      |
| CENTRICA PLC                                   | CENTRICA PLC                        | CUSIP: N/A<br>LEI: E26EDV109X6EEPBKVH76       | Long             | EC               | CORP              | GB        |   2527308 | NS      | $7154823.46   | 1.16%             |  |  |  | No            | 2                  | On Loan: No      |
| Atlas Copco Aktiebolag                         | ATLAS COPCO AB                      | CUSIP: N/A<br>LEI: 213800T8PC8Q4FYJZR07       | Long             | EC               | CORP              | SE        |    567232 | NS      | $8871944.53   | 1.43%             |  |  |  | No            | 2                  | On Loan: No      |
| INVESCO GOVERNMENT & AGENCY PORTFOLIO          | INVESCO GVT & AGNCY-INST            | CUSIP: 825252885<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   1403824 | NS      | $1403824.00   | 0.23%             |  |  |  | No            | 1                  | On Loan: No      |
| Aena, S.M.E., S.A.                             | AENA SME SA                         | CUSIP: E526LK101<br>LEI: 959800R7QMXKF0NFMT29 | Long             | EC               |  | ES        |    259948 | NS      | $7689636.12   | 1.24%             |  |  |  | Yes           | 2                  | On Loan: No      |
| JAMES HARDIE INDUSTRIES PUBLIC LIMITED COMPANY | JAMES HARDIE INDUSTRIES PLC         | CUSIP: N/A<br>LEI: 635400NSGXKTVOO7JU45       | Long             |  | CORP              | IE        |    188965 | NS      | $3483886.95   | 0.56%             |  |  |  | No            | 2                  | On Loan: No      |
| VOLKSWAGEN AKTIENGESELLSCHAFT                  | VOLKSWAGEN AG                       | CUSIP: N/A<br>LEI: 529900NNUPAGGOMPXZ31       | Long             | EC               | CORP              | DE        |     51601 | NS      | $5277687.12   | 0.85%             |  |  |  | No            | 2                  | On Loan: No      |
| FUJI ELECTRIC CO., LTD.                        | FUJI ELECTRIC CO LTD                | CUSIP: N/A<br>LEI: 5299000HVNGZZTYYM906       | Long             | EC               | CORP              | JP        |    140300 | NS      | $9829232.97   | 1.59%             |  |  |  | No            | 2                  | On Loan: No      |
| Koninklijke KPN N.V.                           | KONINKLIJKE KPN NV                  | CUSIP: N/A<br>LEI: 549300YO0JZHAL7FVP81       | Long             | EC               | CORP              | NL        |   1237781 | NS      | $6898004.87   | 1.11%             |  |  |  | No            | 2                  | On Loan: No      |
| HSBC HOLDINGS PLC                              | HSBC HOLDINGS PLC                   | CUSIP: N/A<br>LEI: MLU0ZO3ML4LN2LL2TL39       | Long             | EC               | CORP              | GB        |    978044 | NS      | $16059567.43  | 2.59%             |  |  |  | No            | 2                  | On Loan: No      |
| CTS Eventim AG & Co. KGaA                      | CTS EVENTIM AG CO KGAA              | CUSIP: N/A<br>LEI: 529900FDHSN08UBJII80       | Long             | EC               | CORP              | DE        |     35507 | NS      | $2079391.11   | 0.34%             |  |  |  | No            | 2                  | On Loan: No      |
| Siemens Aktiengesellschaft                     | SIEMENS AG                          | CUSIP: N/A<br>LEI: W38RGI023J3WT1HWRP32       | Long             | EC               | CORP              | DE        |     59097 | NS      | $14396114.99  | 2.32%             |  |  |  | No            | 2                  | On Loan: No      |
| Roche Holding AG                               | ROCHE HOLDING AG                    | CUSIP: N/A<br>LEI: 549300U41AUUVOAAOB37       | Long             | EC               | CORP              | CH        |     43967 | NS      | $17551217.10  | 2.83%             |  |  |  | No            | 2                  | On Loan: No      |
| Fujitsu Limited                                | FUJITSU LTD                         | CUSIP: N/A<br>LEI: 3538000246DHJLRTUZ24       | Long             | EC               | CORP              | JP        |    321100 | NS      | $6567327.89   | 1.06%             |  |  |  | No            | 2                  | On Loan: No      |
| NEXT PLC                                       | NEXT PLC                            | CUSIP: N/A<br>LEI: 213800WQD8ECPZP9PH98       | Long             | EC               | CORP              | GB        |     28768 | NS      | $4859578.67   | 0.78%             |  |  |  | No            | 2                  | On Loan: No      |
| SAFRAN SA                                      | SAFRAN SA                           | CUSIP: N/A<br>LEI: 969500UIC89GT3UL7L24       | Long             | EC               | CORP              | FR        |     39880 | NS      | $13048158.19  | 2.11%             |  |  |  | No            | 2                  | On Loan: No      |
| Nippon Yusen Kabushiki Kaisha                  | NIPPON YUSEN KK                     | CUSIP: N/A<br>LEI: 353800YPW4XM0ZN5I149       | Long             | EC               | CORP              | JP        |    155400 | NS      | $5709119.94   | 0.92%             |  |  |  | No            | 2                  | On Loan: —       |
| CSL LIMITED                                    | CSL LTD                             | CUSIP: N/A<br>LEI: 529900ECSECK5ZDQTE14       | Long             | EC               | CORP              | AU        |     23187 | NS      | $2276900.30   | 0.37%             |  |  |  | No            | 2                  | On Loan: No      |
| Wolters Kluwer N.V.                            | WOLTERS KLUWER NV                   | CUSIP: N/A<br>LEI: 724500TEM53I0U077B74       | Long             | EC               | CORP              | NL        |     33895 | NS      | $2531217.26   | 0.41%             |  |  |  | No            | 2                  | On Loan: No      |

### Signature

**Date Signed:** 2026-04-30

**Name of Applicant:** Victory Portfolios

**Signature:** Carol D. Trevino

**Name of Signer:** Carol D. Trevino

**Title:** Treasurer