# EDGAR Filing Document

**Accession Number:** 0000802716
**File Stem:** 0001752724-25-210038
**Filing Date:** 2025-8
**Character Count:** 41846
**Document Hash:** fd773742f326ec2617b3b5b3f012c068
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-210038.hdr.sgml**: 20250828

**ACCESSION NUMBER**: 0001752724-25-210038

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250828

**DATE AS OF CHANGE**: 20250828

**PERIOD START**: 20250630

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04852
- **FILM NUMBER:** 251268208

**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 Integrity Small/Mid-Cap Value Fund (Series ID: S000046398)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000144993 | Class A      | MAISX           |
| C000144994 | Class Y      | MYISX           |
| C000155526 | Class R6     | MIRSX           |
| C000219864 | Member Class | MMMSX           |

## 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 Integrity Small/Mid-Cap Value Fund

- **b. EDGAR series identifier (if any):** S000046398

- **c. LEI of Series:** 549300BZ2CQ68TGCQK29

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

- **a. Date of fiscal year-end:** 2025-06-30

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $321136532.06

**Total Liabilities:** $3999511.96

**Net Assets:** $317137020.10

**Cash Not Reported:** $8481502.93

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000144994 | -4.09%               | 5.09%                | 3.86%                |
| Class ID C000155526 | -4.07%               | 5.07%                | 3.94%                |
| Class ID C000219864 | -4.05%               | 5.06%                | 3.87%                |
| Class ID C000144993 | -4.05%               | 5.01%                | 3.87%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-2868605.50             | $-10620559.19                              |
| Month 2  | $-2195364.19             | $16646741.93                               |
| Month 3  | $1306943.85              | $9939257.51                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BREAD FINANCIAL HOLDINGS, INC.                 | BREAD FINANCIAL HOLDINGS               | CUSIP: 018581108<br>LEI: 549300G8S4PO686J7H97 | Long             | EC               | CORP              | US        |     44000 | NS      | $2513280.00   | 0.79%             |  |  |  | No            |                  1 | On Loan: —       |
| SENSATA TECHNOLOGIES HOLDING PLC               | SENSATA TECHNOLOGIES HOLDING           | CUSIP: G8060N102<br>LEI: 529900MS7KFYCY9MS037 | Long             | EC               | CORP              | GB        |    108000 | NS      | $3251880.00   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ENVISTA HOLDINGS CORPORATION                   | ENVISTA HOLDINGS CORP                  | CUSIP: 29415F104<br>LEI: 549300BX623VURJZ5269 | Long             | EC               | CORP              | US        |    115617 | NS      | $2259156.18   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| SYNAPTICS INCORPORATED                         | SYNAPTICS INCORPORATED                 | CUSIP: 87157D109<br>LEI: 549300AJ3LI4FWNRQX29 | Long             | EC               | CORP              | US        |     44492 | NS      | $2883971.44   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| BELDEN INC.                                    | BELDEN INC                             | CUSIP: 077454106<br>LEI: 68BKYO1JC791TTJHUE82 | Long             | EC               | CORP              | US        |     23059 | NS      | $2670232.20   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST AMERICAN FINANCIAL CORPORATION           | FIRST AMERICAN FINANCIAL CORP          | CUSIP: 31847R102<br>LEI: 549300B6VEZK3N0A1P55 | Long             | EC               | CORP              | US        |     47740 | NS      | $2930758.60   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| THE BRINK'S COMPANY                            | BRINK S CO THE                         | CUSIP: 109696104<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | EC               | CORP              | US        |     34078 | NS      | $3042824.62   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Gaming and Leisure Properties, Inc.            | GAMING AND LEISURE PROPERTIE           | CUSIP: 36467J108<br>LEI: 5493006GWRDBCZYWTM57 | Long             | EC               | CORP              | US        |     87990 | NS      | $4107373.20   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| ARTISAN PARTNERS ASSET MANAGEMENT INC.         | ARTISAN PARTNERS ASSET MA A            | CUSIP: 04316A108<br>LEI: 549300T1FUI6JF63XU51 | Long             | EC               | CORP              | US        |     63275 | NS      | $2804980.75   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| VERITEX HOLDINGS, INC.                         | VERITEX HOLDINGS INC                   | CUSIP: 923451108<br>LEI: 549300F3SMOML02SC814 | Long             | EC               | CORP              | US        |    108200 | NS      | $2824020.00   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| HIGHWOODS PROPERTIES, INC.                     | HIGHWOODS PROPERTIES INC               | CUSIP: 431284108<br>LEI: ZIIGTYKL9T0X3HLTDX53 | Long             | EC               | CORP              | US        |     98500 | NS      | $3062365.00   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| WESCO INTERNATIONAL, INC.                      | WESCO INTERNATIONAL                    | CUSIP: 95082P105<br>LEI: 529900TXOGREY3WNJ434 | Long             | EC               | CORP              | US        |     17324 | NS      | $3208404.80   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| TOPBUILD CORP.                                 | TOPBUILD CORP                          | CUSIP: 89055F103<br>LEI: 5493007YSKHOL4RWII46 | Long             | EC               | CORP              | US        |     10137 | NS      | $3281752.38   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| BRUNSWICK CORPORATION                          | BRUNSWICK CORP                         | CUSIP: 117043109<br>LEI: YM4O38W15AX4YLLQKU27 | Long             | EC               | CORP              | US        |     34057 | NS      | $1881308.68   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Post Holdings, Inc.                            | POST HOLDINGS INC                      | CUSIP: 737446104<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | EC               | CORP              | US        |     21636 | NS      | $2358973.08   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Amdocs Limited                                 | AMDOCS LTD                             | CUSIP: G02602103<br>LEI: 549300HQV672RJ7RQV66 | Long             | EC               | CORP              | GG        |     42595 | NS      | $3886367.80   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| CACI INTERNATIONAL INC.                        | CACI INTERNATIONAL INC CLASS A         | CUSIP: 127190304<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | EC               | CORP              | US        |      5585 | NS      | $2662369.50   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| SALLY BEAUTY HOLDINGS, INC.                    | SALLY BEAUTY HOLDINGS INC              | CUSIP: 79546E104<br>LEI: 529900VXW6E8ONDIQ271 | Long             | EC               | CORP              | US        |    286277 | NS      | $2650925.02   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| THE GOODYEAR TIRE & RUBBER COMPANY             | GOODYEAR TIRE RUBBER CO THE            | CUSIP: 382550101<br>LEI: 5493002BI0S2ZQUY3437 | Long             | EC               | CORP              | US        |    280865 | NS      | $2912570.05   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST INTERSTATE BANCSYSTEM, INC.              | FIRST INTERSTATE BANCSYS A             | CUSIP: 32055Y201<br>LEI: 549300WRWYTYX0RCNJ43 | Long             | EC               | CORP              | US        |     95000 | NS      | $2737900.00   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| LINCOLN NATIONAL CORPORATION                   | LINCOLN NATIONAL CORP                  | CUSIP: 534187109<br>LEI: EFQMQROEDSNBRIP7LE47 | Long             | EC               | CORP              | US        |     68674 | NS      | $2376120.40   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| VALLEY NATIONAL BANCORP                        | VALLEY NATIONAL BANCORP                | CUSIP: 919794107<br>LEI: 549300ET52S1UBIB9762 | Long             | EC               | CORP              | US        |    349644 | NS      | $3122320.92   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| LIONSGATE STUDIOS CORP.                        | LIONSGATE STUDIOS CORP                 | CUSIP: 53626N102<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    222814 | NS      | $1294549.34   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST INDUSTRIAL REALTY TRUST, INC.            | FIRST INDUSTRIAL REALTY TRUST          | CUSIP: 32054K103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     75508 | NS      | $3634200.04   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| UGI CORPORATION                                | UGI CORP                               | CUSIP: 902681105<br>LEI: DX6GCWD4Q1JO9CRE5I40 | Long             | EC               | CORP              | US        |     98470 | NS      | $3586277.40   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| KIRBY CORPORATION                              | KIRBY CORP                             | CUSIP: 497266106<br>LEI: I7NO6FZO5GUCG585T325 | Long             | EC               | CORP              | US        |     26583 | NS      | $3014778.03   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| W.P. CAREY INC.                                | WP CAREY INC                           | CUSIP: 92936U109<br>LEI: 54930042CRNE713E3Q67 | Long             | EC               | CORP              | US        |     64000 | NS      | $3992320.00   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| MURPHY OIL CORPORATION                         | MURPHY OIL CORP                        | CUSIP: 626717102<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | EC               | CORP              | US        |     98080 | NS      | $2206800.00   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| COMMERCIAL METALS COMPANY                      | COMMERCIAL METALS COMPANY              | CUSIP: 201723103<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | EC               | CORP              | US        |     61429 | NS      | $3004492.39   | 0.95%             |  |  |  | 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        |     27720 | NS      | $2989047.60   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| CROWN HOLDINGS, INC.                           | CROWN HOLDINGS INC                     | CUSIP: 228368106<br>LEI: NYLWZIOY8PUNIT4JOE22 | Long             | EC               | CORP              | US        |     32664 | NS      | $3363738.72   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| KNIGHT-SWIFT TRANSPORTATION HOLDINGS INC.      | KNIGHT SWIFT TRANSPORTATION            | CUSIP: 499049104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     52150 | NS      | $2306594.50   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| ASSURANT, INC.                                 | ASSURANT INC                           | CUSIP: 04621X108<br>LEI: H3F39CAXWQRVWURFXL38 | Long             | EC               | CORP              | US        |     12459 | NS      | $2460527.91   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| CASEY'S GENERAL STORES, INC.                   | CASEY S GENERAL STORES INC             | CUSIP: 147528103<br>LEI: 549300CAFWSI86V66Q65 | Long             | EC               | CORP              | US        |      6761 | NS      | $3449935.47   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Evergy, Inc.                                   | EVERGY INC                             | CUSIP: 30034W106<br>LEI: 549300PGTHDQY6PSUI61 | Long             | EC               | CORP              | US        |     41400 | NS      | $2853702.00   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| VISTEON CORPORATION                            | VISTEON CORP                           | CUSIP: 92839U206<br>LEI: 549300MOVLYHRW4GGW78 | Long             | EC               | CORP              | US        |     25181 | NS      | $2349387.30   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| AVIENT CORPORATION                             | AVIENT CORP                            | CUSIP: 05368V106<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | EC               | CORP              | US        |     52797 | NS      | $1705871.07   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| LIBERTY MEDIA CORP - FORMULA ONE GROUP         | LIBERTY MEDIA CORP - FORMULA ONE GROUP | CUSIP: 531229755<br>LEI: 549300ZKUTPIBZLWLL89 | Long             | EC               | CORP              | US        |     28389 | NS      | $2966650.50   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST HORIZON CORPORATION                      | FIRST HORIZON CORP                     | CUSIP: 320517105<br>LEI: TF3RXI1ZB1TQ30H9JV10 | Long             | EC               | CORP              | US        |    165000 | NS      | $3498000.00   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| MKS INC.                                       | MKS INC                                | CUSIP: 55306N104<br>LEI: 549300KEQATBHAGVF505 | Long             | EC               | CORP              | US        |     32500 | NS      | $3229200.00   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXSTAR MEDIA GROUP, INC.                      | NEXSTAR MEDIA GROUP INC                | CUSIP: 65336K103<br>LEI: 52990083ZRR5UT591988 | Long             | EC               | CORP              | US        |     14956 | NS      | $2586640.20   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| BRIGHTHOUSE FINANCIAL, INC.                    | BRIGHTHOUSE FINANCIAL INC              | CUSIP: 10922N103<br>LEI: 5493003T8SZSHOGGAW52 | Long             | EC               | CORP              | US        |     52347 | NS      | $2814698.19   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| ANTERO RESOURCES CORPORATION                   | ANTERO RESOURCES CORP                  | CUSIP: 03674X106<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | EC               | CORP              | US        |     74550 | NS      | $3002874.00   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| THE MOSAIC COMPANY                             | THE MOSAIC CO                          | CUSIP: 61945C103<br>LEI: 2YD5STGSJNMUB7H76907 | Long             | EC               | CORP              | US        |     94467 | NS      | $3446156.16   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| AXALTA COATING SYSTEMS LTD.                    | AXALTA COATING SYSTEMS LTD             | CUSIP: G0750C108<br>LEI: 529900AGLPA40GV6H619 | Long             | EC               | CORP              | BM        |     85769 | NS      | $2546481.61   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| PERRIGO COMPANY PUBLIC LIMITED COMPANY         | PERRIGO CO PLC                         | CUSIP: G97822103<br>LEI: 549300IFOQS6R1QLY196 | Long             | EC               | CORP              | IE        |     81600 | NS      | $2180352.00   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| FEDERAL REALTY INVESTMENT TRUST                | FEDERAL REALTY INVESTMENT TRUST        | CUSIP: 313745101<br>LEI: 549300FHEI1SLVZ0RB48 | Long             | EC               | CORP              | US        |     37485 | NS      | $3560700.15   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| PENTAIR PUBLIC LIMITED COMPANY                 | PENTAIR PLC                            | CUSIP: G7S00T104<br>LEI: 549300EVR9D56WPSRP15 | Long             | EC               | CORP              | IE        |     34868 | NS      | $3579548.88   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| URANIUM ENERGY CORP.                           | URANIUM ENERGY CORP                    | CUSIP: 916896103<br>LEI: 549300VD69WD2USLIP04 | Long             | EC               | CORP              | US        |    236700 | NS      | $1609560.00   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| JACOBS SOLUTIONS INC.                          | JACOBS SOLUTIONS INC                   | CUSIP: 46982L108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18664 | NS      | $2453382.80   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| SEALED AIR CORPORATION                         | SEALED AIR CORP                        | CUSIP: 81211K100<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | EC               | CORP              | US        |     89887 | NS      | $2789193.61   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTHSTATE CORPORATION                         | SOUTHSTATE CORP                        | CUSIP: 840441109<br>LEI: 549300JZUANXM0YQ4W53 | Long             | EC               | CORP              | US        |     34813 | NS      | $3203840.39   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| INDEPENDENT BANK CORP.                         | INDEPENDENT BANK CORP                  | CUSIP: 453836108<br>LEI: 549300C5K3W8THR3GE10 | Long             | EC               | CORP              | US        |     42368 | NS      | $2664311.68   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| TENET HEALTHCARE CORPORATION                   | TENET HEALTHCARE CORP                  | CUSIP: 88033G407<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | EC               | CORP              | US        |     15521 | NS      | $2731696.00   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| BATH & BODY WORKS, INC.                        | BATH BODY WORKS INC                    | CUSIP: 070830104<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | EC               | CORP              | US        |     94354 | NS      | $2826845.84   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| DOLLAR TREE, INC.                              | DOLLAR TREE INC                        | CUSIP: 256746108<br>LEI: 549300PMSTQITB1WHR43 | Long             | EC               | CORP              | US        |     30400 | NS      | $3010816.00   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| QORVO, INC.                                    | QORVO INC                              | CUSIP: 74736K101<br>LEI: 254900YAUJV2EUEVBR11 | Long             | EC               | CORP              | US        |     41060 | NS      | $3486404.60   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| PINNACLE WEST CAPITAL CORPORATION              | PINNACLE WEST CAPITAL CORP             | CUSIP: 723484101<br>LEI: TWSEY0NEDUDCKS27AH81 | Long             | EC               | CORP              | US        |     28900 | NS      | $2585683.00   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| VALMONT INDUSTRIES, INC.                       | VALMONT INDUSTRIES INC                 | CUSIP: 920253101<br>LEI: 5493009ZGZJJ8F77JN08 | Long             | EC               | CORP              | US        |      8816 | NS      | $2879041.12   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| RYDER SYSTEM, INC.                             | RYDER SYSTEM INC                       | CUSIP: 783549108<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | EC               | CORP              | US        |     16080 | NS      | $2556720.00   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| C.H. ROBINSON WORLDWIDE, INC.                  | CH ROBINSON WORLDWIDE INC              | CUSIP: 12541W209<br>LEI: 529900WNWN5L0OVDHA79 | Long             | EC               | CORP              | US        |     28935 | NS      | $2776313.25   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| RELIANCE, INC.                                 | RELIANCE INC                           | CUSIP: 759509102<br>LEI: 549300E287ZOFT3C5Z56 | Long             | EC               | CORP              | US        |      8445 | NS      | $2650885.50   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| MARRIOTT VACATIONS WORLDWIDE CORPORATION       | MARRIOTT VACATIONS WORLDWIDE CORP      | CUSIP: 57164Y107<br>LEI: 549300WA6BT5H4F7IO94 | Long             | EC               | CORP              | US        |     38202 | NS      | $2762386.62   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| BUILDERS FIRSTSOURCE, INC.                     | BUILDERS FIRSTSOURCE INC               | CUSIP: 12008R107<br>LEI: 549300W0SKP6L3H7DP63 | Long             | EC               | CORP              | US        |     22132 | NS      | $2582583.08   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| UNUM GROUP                                     | UNUM GROUP                             | CUSIP: 91529Y106<br>LEI: 549300E32YFDO6TZ8R31 | Long             | EC               | CORP              | US        |     42100 | NS      | $3399996.00   | 1.07%             |  |  |  | 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        |    932735 | NS      | $932734.63    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| HOST HOTELS & RESORTS, INC.                    | HOST HOTELS RESORTS INC                | CUSIP: 44107P104<br>LEI: N6EL63S0K3PB1YFTDI24 | Long             | EC               | CORP              | US        |    142243 | NS      | $2184852.48   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| FLEX LTD.                                      | FLEX LTD                               | CUSIP: Y2573F102<br>LEI: 549300EAQH74YHD07T53 | Long             | EC               | CORP              | SG        |     73833 | NS      | $3685743.36   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBUS MEDICAL, INC.                           | GLOBUS MEDICAL INC                     | CUSIP: 379577208<br>LEI: 5299003M2P4CIK0RF205 | Long             | EC               | CORP              | US        |     36412 | NS      | $2149036.24   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| TD SYNNEX CORPORATION                          | TD SYNNEX CORP                         | CUSIP: 87162W100<br>LEI: 5493004HI6PFLF46NS53 | Long             | EC               | CORP              | US        |     22903 | NS      | $3107937.10   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| WESTERN ALLIANCE BANCORPORATION                | WESTERN ALLIANCE BANCORP               | CUSIP: 957638109<br>LEI: 5493003VJXZ5JXT9S762 | Long             | EC               | CORP              | US        |     40600 | NS      | $3165988.00   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ITT INC.                                       | ITT INC                                | CUSIP: 45073V108<br>LEI: 549300KDSERHTJOXUS80 | Long             | EC               | CORP              | US        |     20540 | NS      | $3221288.20   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| AGNC INVESTMENT CORP.                          | AGNC INVESTMENT CORP                   | CUSIP: 00123Q104<br>LEI: 5TRACI5HRMELWV32OF39 | Long             | EC               | CORP              | US        |    332239 | NS      | $3053276.41   | 0.96%             |  |  |  | No            |                  1 | On Loan: —       |
| GOLDMAN SACHS FINANCIAL SQUARE GOVERNMENT FUND | GLDMN SCHS FIN SQ GV-FST               | CUSIP: 38141W273<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    932735 | NS      | $932734.63    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| PROSPERITY BANCSHARES, INC.                    | PROSPERITY BANCSHARES INC              | CUSIP: 743606105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     47328 | NS      | $3324318.72   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| JAZZ PHARMACEUTICALS PUBLIC LIMITED COMPANY    | JAZZ PHARMACEUTICALS PLC               | CUSIP: G50871105<br>LEI: 635400GAUMJCLEZRRV50 | Long             | EC               | CORP              | IE        |     23471 | NS      | $2490742.52   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| CACTUS, INC.                                   | CACTUS INC                             | CUSIP: 127203107<br>LEI: 549300J3T8C9F8QFKV08 | Long             | EC               | CORP              | US        |     35680 | NS      | $1559929.60   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| KILROY REALTY CORPORATION                      | KILROY REALTY CORP                     | CUSIP: 49427F108<br>LEI: 549300CXXI18B214UN80 | Long             | EC               | CORP              | US        |     90934 | NS      | $3119945.54   | 0.98%             |  |  |  | No            |                  1 | On Loan: —       |
| TEREX CORPORATION                              | TEREX CORPORATION                      | CUSIP: 880779103<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | EC               | CORP              | US        |     59701 | NS      | $2787439.69   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| PRESTIGE CONSUMER HEALTHCARE INC.              | PRESTIGE CONSUMER HEALTHCARE INC       | CUSIP: 74112D101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     31497 | NS      | $2515035.45   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| VICTORIA'S SECRET & CO.                        | VICTORIA S SECRET CO                   | CUSIP: 926400102<br>LEI: 5493006T3O70U3UWVF17 | Long             | EC               | CORP              | US        |    111447 | NS      | $2063998.44   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| SKYWEST, INC.                                  | SKYWEST INC                            | CUSIP: 830879102<br>LEI: 529900UYS2KGS6Z42P09 | Long             | EC               | CORP              | US        |     28449 | NS      | $2929393.53   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| STEVEN MADDEN, LTD.                            | STEVEN MADDEN LTD                      | CUSIP: 556269108<br>LEI: 549300Z9GZ7GYJWSGF43 | Long             | EC               | CORP              | US        |     82100 | NS      | $1968758.00   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| CORE NATURAL RESOURCES, INC.                   | CORE NATURAL RESOURCES INC             | CUSIP: 218937100<br>LEI: 549300YJCTPJBTK7IJ81 | Long             | EC               | CORP              | US        |     24893 | NS      | $1736037.82   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| NORWEGIAN CRUISE LINE HOLDINGS LTD.            | NORWEGIAN CRUISE LINE HOLDINGS LTD     | CUSIP: G66721104<br>LEI: N/A                  | Long             | EC               | CORP              | BM        |    129136 | NS      | $2618878.08   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| ESSENT GROUP LTD                               | ESSENT GROUP LTD                       | CUSIP: G3198U102<br>LEI: 254900QUO860OUT6ZF83 | Long             | EC               | CORP              | BM        |     50200 | NS      | $3048646.00   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| INGEVITY CORPORATION                           | INGEVITY CORP                          | CUSIP: 45688C107<br>LEI: 5493009UTFC4B5IMGF87 | Long             | EC               | CORP              | US        |     52390 | NS      | $2257485.10   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| EMCOR GROUP, INC.                              | EMCOR GROUP INC                        | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               | CORP              | US        |      4656 | NS      | $2490447.84   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| ENCOMPASS HEALTH CORPORATION                   | ENCOMPASS HEALTH CORP                  | CUSIP: 29261A100<br>LEI: 549300FVRPM9DRQZRG64 | Long             | EC               | CORP              | US        |     22715 | NS      | $2785540.45   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| PERFORMANCE FOOD GROUP COMPANY                 | PERFORMANCE FOOD GROUP CO              | CUSIP: 71377A103<br>LEI: 549300EUK8GR9IT1YK57 | Long             | EC               | CORP              | US        |     41474 | NS      | $3627730.78   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| ADT INC.                                       | ADT INC                                | CUSIP: 00090Q103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    354750 | NS      | $3004732.50   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| MSILF Government Portfolio                     | MSILF GOVERNMENT-INST                  | CUSIP: 61747C707<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    932735 | NS      | $932734.61    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| INVESCO GOVERNMENT & AGENCY PORTFOLIO          | INVESCO GVT & AGNCY-INST               | CUSIP: 825252885<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    932735 | NS      | $932734.63    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| NEWELL BRANDS INC.                             | NEWELL BRANDS INC                      | CUSIP: 651229106<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | EC               | CORP              | US        |    367749 | NS      | $1985844.60   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED THERAPEUTICS CORPORATION                | UNITED THERAPEUTICS CORP               | CUSIP: 91307C102<br>LEI: 5299005C4HZL4UWROC14 | Long             | EC               | CORP              | US        |      9088 | NS      | $2611436.80   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| OSHKOSH CORPORATION                            | OSHKOSH CORP                           | CUSIP: 688239201<br>LEI: 549300FEKNPCFSA2B506 | Long             | EC               | CORP              | US        |     28967 | NS      | $3288913.18   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| CUSHMAN & WAKEFIELD PLC                        | CUSHMAN WAKEFIELD PLC                  | CUSIP: G2717B108<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |    287000 | NS      | $3177090.00   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| LIVANOVA PLC                                   | LIVANOVA PLC                           | CUSIP: G5509L101<br>LEI: 2138001K2FX6SHK2B339 | Long             | EC               | CORP              | GB        |     55055 | NS      | $2478576.10   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| ANNALY CAPITAL MANAGEMENT, INC.                | ANNALY CAPITAL MANAGEMENT INC          | CUSIP: 035710839<br>LEI: 2DTL0G3FPRYUT58TI025 | Long             | EC               | CORP              | US        |    170668 | NS      | $3211971.76   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| PERMIAN RESOURCES CORPORATION                  | PERMIAN RESOURCES CORP COM             | CUSIP: 71424F105<br>LEI: 529900NXUJPOKU7OJ511 | Long             | EC               | CORP              | US        |    154943 | NS      | $2110323.66   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| THE TIMKEN COMPANY                             | TIMKEN CO                              | CUSIP: 887389104<br>LEI: B0I35MLPFXZSE70ASS73 | Long             | EC               | CORP              | US        |     34868 | NS      | $2529673.40   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| OWENS CORNING                                  | OWENS CORNING INC                      | CUSIP: 690742101<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | EC               | CORP              | US        |     22375 | NS      | $3077010.00   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| TEXTRON INC.                                   | TEXTRON INC                            | CUSIP: 883203101<br>LEI: 3PPKBHUG1HD6BO7RNR87 | Long             | EC               | CORP              | US        |     50300 | NS      | $4038587.00   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| GLACIER BANCORP, INC.                          | GLACIER BANCORP INC                    | CUSIP: 37637Q105<br>LEI: 549300SMJAUKZB5D7V74 | Long             | EC               | CORP              | US        |     72500 | NS      | $3123300.00   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| JABIL INC.                                     | JABIL INC                              | CUSIP: 466313103<br>LEI: 5493000CGCQY2OQU7669 | Long             | EC               | CORP              | US        |     15914 | NS      | $3470843.40   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN FINANCIAL GROUP, INC.                 | AMERICAN FINANCIAL GROUP INC           | CUSIP: 025932104<br>LEI: 549300AFOM7IVKIU1G39 | Long             | EC               | CORP              | US        |     17642 | NS      | $2226596.82   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| CAESARS ENTERTAINMENT, INC.                    | CAESARS ENTERTAINMENT INC              | CUSIP: 12769G100<br>LEI: 549300FA4CTCW903Y781 | Long             | EC               | CORP              | US        |     84416 | NS      | $2396570.24   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| MOHAWK INDUSTRIES, INC.                        | MOHAWK INDUSTRIES INC                  | CUSIP: 608190104<br>LEI: 549300JI1115MG3Q6322 | Long             | EC               | CORP              | US        |     22892 | NS      | $2399997.28   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| SCORPIO TANKERS INC.                           | SCORPIO TANKERS INC                    | CUSIP: Y7542C130<br>LEI: 549300NVJUH16NXG8K87 | Long             | EC               | CORP              | MH        |     58144 | NS      | $2275174.72   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| KORN FERRY                                     | KORN FERRY                             | CUSIP: 500643200<br>LEI: 549300FOD20OM0GT5G40 | Long             | EC               | CORP              | US        |     40285 | NS      | $2954099.05   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| NATIONAL FUEL GAS COMPANY                      | NATIONAL FUEL GAS CO                   | CUSIP: 636180101<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | EC               | CORP              | US        |     31522 | NS      | $2670228.62   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| FLAGSTAR FINANCIAL, INC.                       | FLAGSTAR FINANCIAL INC                 | CUSIP: 649445400<br>LEI: 529900HVXOTLY61GL030 | Long             | EC               | CORP              | US        |    307000 | NS      | $3254200.00   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| CAMDEN PROPERTY TRUST                          | CAMDEN PROPERTY TRUST                  | CUSIP: 133131102<br>LEI: 5493002MYX22OHYJBD89 | Long             | EC               | CORP              | US        |     35544 | NS      | $4005453.36   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

**Name of Applicant:** Victory Portfolios

**Signature:** Carol Trevino

**Name of Signer:** Carol Trevino

**Title:** Treasurer