# EDGAR Filing Document

**Accession Number:** 0000802716
**File Stem:** 0001004726-26-004291
**Filing Date:** 2026-5
**Character Count:** 45335
**Document Hash:** 429f63237da794cf1d111ebb67324ece
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001004726-26-004291.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0001004726-26-004291

**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**: 20260630

**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:** 261032956

**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 Multi-Cap Fund, formerly 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:** 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 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:** 2026-06-30

- **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:** $506425129.38

**Total Liabilities:** $536698.97

**Net Assets:** $505888430.41

**Cash Not Reported:** $896196.55

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000144987 | 3.06%                | 0.16%                | -4.93%               |
| Class ID C000144984 | 3.04%                | 0.13%                | -4.94%               |
| Class ID C000144985 | 2.99%                | 0.06%                | -5.04%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $237377.43               | $15932878.65                               |
| Month 2  | $15169657.37             | $-14303620.69                              |
| Month 3  | $306398.74               | $-26914943.24                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| RALPH LAUREN CORPORATION                           | RALPH LAUREN CORP                             | CUSIP: 751212101<br>LEI: HO1QNWM0IXBZ0QSMMO20 | Long             | EC               | CORP              | US        |     11300 | NS      | $3887087.00   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| ULTA BEAUTY, INC.                                  | ULTA BEAUTY INC                               | CUSIP: 90384S303<br>LEI: 529900CIV6HN8M28YM82 | Long             | EC               | CORP              | US        |      4300 | NS      | $2247653.00   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| BRIGHTSPRING HEALTH SERVICES, INC.                 | BRIGHTSPRING HEALTH SERVICES INC              | CUSIP: 10950A106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    136400 | NS      | $5812004.00   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| FEDERAL SIGNAL CORPORATION                         | FEDERAL SIGNAL CORP                           | CUSIP: 313855108<br>LEI: 549300RTXZRPTNP6G884 | Long             | EC               | CORP              | US        |     34000 | NS      | $3676760.00   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| THE ENSIGN GROUP, INC.                             | ENSIGN GROUP INC THE                          | CUSIP: 29358P101<br>LEI: 5493003K4HEEA8Q0BC72 | Long             | EC               | CORP              | US        |     19100 | NS      | $3848650.00   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCK & CO., INC.                                  | MERCK CO INC                                  | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |     19400 | NS      | $2333626.00   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| MUELLER INDUSTRIES, INC.                           | MUELLER INDUSTRIES INC                        | CUSIP: 624756102<br>LEI: 5493005IZFE4VJLLYG84 | Long             | EC               | CORP              | US        |     26400 | NS      | $2925120.00   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTPOWER INC.                                     | NEXTPOWER INC CL A                            | CUSIP: 65290E101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     28700 | NS      | $3459785.00   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| ROYAL GOLD, INC.                                   | ROYAL GOLD INC                                | CUSIP: 780287108<br>LEI: 5493001NGRU6SFL04184 | Long             | EC               | CORP              | US        |     14200 | NS      | $3613758.00   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA CORPORATION                                 | NVIDIA CORP                                   | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |    217100 | NS      | $37862240.00  | 7.48%             |  |  |  | No            |                  1 | On Loan: No      |
| STERLING INFRASTRUCTURE, INC.                      | STERLING INFRASTRUCTURE                       | CUSIP: 859241101<br>LEI: 549300RZIK6K1215XU51 | Long             | EC               | CORP              | US        |      3300 | NS      | $1343991.00   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| AMPHENOL CORPORATION                               | AMPHENOL CORP CLASS A                         | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |     50300 | NS      | $6355405.00   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| CENCORA, INC.                                      | CENCORA INC                                   | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |     15900 | NS      | $4994826.00   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| EMCOR GROUP, INC.                                  | EMCOR GROUP INC                               | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               | CORP              | US        |      4800 | NS      | $3543888.00   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| DOLLAR GENERAL CORPORATION                         | DOLLAR GENERAL CORP                           | CUSIP: 256677105<br>LEI: OPX52SQVOZI8IVSWYU66 | Long             | EC               | CORP              | US        |     28400 | NS      | $3371932.00   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| NATIONAL FUEL GAS COMPANY                          | NATIONAL FUEL GAS CO                          | CUSIP: 636180101<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | EC               | CORP              | US        |     21600 | NS      | $2029536.00   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLIED MATERIALS, INC.                            | APPLIED MATERIALS INC                         | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |      1300 | NS      | $444327.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ARCHROCK INC.                                      | ARCHROCK INC                                  | CUSIP: 03957W106<br>LEI: 549300K3RIHMHDVFTL28 | Long             | EC               | CORP              | US        |     11500 | NS      | $400200.00    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| GENERAL MOTORS COMPANY                             | GENERAL MOTORS CO                             | CUSIP: 37045V100<br>LEI: 54930070NSV60J38I987 | Long             | EC               | CORP              | US        |     35900 | NS      | $2674550.00   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| MICROSOFT CORPORATION                              | MICROSOFT CORP                                | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     65360 | NS      | $24194311.20  | 4.78%             |  |  |  | No            |                  1 | On Loan: No      |
| SEAGATE TECHNOLOGY HOLDINGS PUBLIC LIMITED COMPANY | SEAGATE TECHNOLOGY HOLD                       | CUSIP: G7997R103<br>LEI: 635400RUXIFEZSRU8X70 | Long             | EC               | CORP              | IE        |      9900 | NS      | $3878424.00   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| MCKESSON CORPORATION                               | MCKESSON CORP                                 | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |      6900 | NS      | $5970984.00   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| PAYPAL HOLDINGS, INC.                              | PAYPAL HOLDINGS INC                           | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |     98700 | NS      | $4464201.00   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| CROWN HOLDINGS, INC.                               | CROWN HOLDINGS INC                            | CUSIP: 228368106<br>LEI: NYLWZIOY8PUNIT4JOE22 | Long             | EC               | CORP              | US        |     36400 | NS      | $3649100.00   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| AMAZON.COM, INC.                                   | AMAZON COM INC                                | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     67000 | NS      | $13954090.00  | 2.76%             |  |  |  | No            |                  1 | On Loan: No      |
| ROSS STORES, INC.                                  | ROSS STORES INC                               | CUSIP: 778296103<br>LEI: 549300ENZFLPGRDFZQ60 | Long             | EC               | CORP              | US        |      2500 | NS      | $541575.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| AFFILIATED MANAGERS GROUP, INC.                    | AFFILIATED MANAGERS GROUP INC                 | CUSIP: 008252108<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EC               | CORP              | US        |     14100 | NS      | $3901470.00   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| ALPHABET INC.                                      | ALPHABET INC CLASS A                          | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     85360 | NS      | $24546121.60  | 4.85%             |  |  |  | No            |                  1 | On Loan: No      |
| WEATHERFORD INTERNATIONAL PUBLIC LIMITED COMPANY   | WEATHERFORD INTERNATIONAL PLC                 | CUSIP: G48833118<br>LEI: 529900LPBDSCQDJKHQ39 | Long             | EC               | CORP              | IE        |      5800 | NS      | $548564.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| NEWMONT CORPORATION                                | NEWMONT CORP                                  | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |     36000 | NS      | $3897000.00   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| EXXON MOBIL CORPORATION                            | EXXON MOBIL CORP                              | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     41800 | NS      | $7091788.00   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| VICI PROPERTIES INC.                               | VICI PROPERTIES INC                           | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |     32900 | NS      | $898828.00    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| TAPESTRY, INC.                                     | TAPESTRY INC                                  | CUSIP: 876030107<br>LEI: 549300LJNVY5SW3VTN33 | Long             | EC               | CORP              | US        |     19600 | NS      | $2765756.00   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| RESMED INC.                                        | RESMED INC                                    | CUSIP: 761152107<br>LEI: 529900T3QE5253CCXF22 | Long             | EC               | CORP              | US        |      1300 | NS      | $291824.00    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| JOHNSON & JOHNSON                                  | JOHNSON JOHNSON                               | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |      4100 | NS      | $1002204.00   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Nu Holdings Ltd.                                   | NU HOLDINGS LTD CAYMAN ISLANDS                | CUSIP: G6683N103<br>LEI: 5493002DG1RHWK9W2X27 | Long             | EC               | CORP              | KY        |    155400 | NS      | $2233098.00   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| CATERPILLAR INC.                                   | CATERPILLAR INC                               | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |      5100 | NS      | $3613146.00   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| F5, INC.                                           | F5 Inc                                        | CUSIP: 315616102<br>LEI: 54930015FPK9KT966303 | Long             | EC               | CORP              | US        |      8000 | NS      | $2314640.00   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Altria Group, Inc.                                 | ALTRIA GROUP INC                              | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |     44400 | NS      | $2929956.00   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| THE GOLDMAN SACHS GROUP, INC.                      | GOLDMAN SACHS GROUP INC THE                   | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |      4500 | NS      | $3806955.00   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| UNIVERSAL HEALTH SERVICES, INC.                    | UNIVERSAL HEALTH SERVICES                     | CUSIP: 913903100<br>LEI: 549300YGMGQDO0NMJD09 | Long             | EC               | CORP              | US        |     11700 | NS      | $2093949.00   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| TRANE TECHNOLOGIES PLC                             | TRANE TECHNOLOGIES PLC                        | CUSIP: G8994E103<br>LEI: 549300BURLR9SLYY2705 | Long             | EC               | CORP              | IE        |      7500 | NS      | $3125550.00   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| CAPITAL ONE FINANCIAL CORPORATION                  | CAPITAL ONE FINANCIAL CORP                    | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EC               | CORP              | US        |      1400 | NS      | $255402.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED AIRLINES HOLDINGS, INC.                     | UNITED AIRLINES HOLDINGS INC                  | CUSIP: 910047109<br>LEI: 98450079DA0B78DD6764 | Long             | EC               | CORP              | US        |     30700 | NS      | $2826549.00   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| TALEN ENERGY CORP                                  | TALEN ENERGY CORP                             | CUSIP: 87422Q109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1200 | NS      | $383076.00    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| CUMMINS INC.                                       | CUMMINS INC                                   | CUSIP: 231021106<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | EC               | CORP              | US        |      2500 | NS      | $1345050.00   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Company Limited | TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD ADR | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             |  | CORP              | TW        |     10800 | NS      | $3649860.00   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBE LIFE INC.                                    | GLOBE LIFE INC                                | CUSIP: 37959E102<br>LEI: 5493001JFHKQOPP6XA71 | Long             | EC               | CORP              | US        |      5400 | NS      | $751518.00    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon Corporation            | BANK OF NEW YORK MELLON CORP                  | CUSIP: 064058100<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | EC               | CORP              | US        |     65800 | NS      | $7805854.00   | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG                                        | NOVARTIS AG                                   | CUSIP: 66987V109<br>LEI: 5493007HIVTX6SY6XD66 | Long             |  | CORP              | CH        |     25300 | NS      | $3864575.00   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| HALOZYME THERAPEUTICS, INC.                        | HALOZYME THERAPEUTICS INC                     | CUSIP: 40637H109<br>LEI: 529900242I3SV9AGM753 | Long             | EC               | CORP              | US        |     51100 | NS      | $3302593.00   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| CASEY'S GENERAL STORES, INC.                       | CASEY S GENERAL STORES INC                    | CUSIP: 147528103<br>LEI: 549300CAFWSI86V66Q65 | Long             | EC               | CORP              | US        |      6200 | NS      | $4512732.00   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| ELI LILLY AND COMPANY                              | ELI LILLY CO                                  | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |     12100 | NS      | $11129217.00  | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| MOTOROLA SOLUTIONS, INC.                           | MOTOROLA SOLUTIONS INC                        | CUSIP: 620076307<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | EC               | CORP              | US        |      4600 | NS      | $1996262.00   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| EXPEDIA GROUP, INC.                                | EXPEDIA GROUP INC                             | CUSIP: 30212P303<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19600 | NS      | $4525444.00   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| SANMINA CORPORATION                                | SANMINA CORP                                  | CUSIP: 801056102<br>LEI: X5K24XLM8QYRXF00EB42 | Long             | EC               | CORP              | US        |     14600 | NS      | $1892744.00   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| TD SYNNEX CORPORATION                              | TD SYNNEX CORP                                | CUSIP: 87162W100<br>LEI: 5493004HI6PFLF46NS53 | Long             | EC               | CORP              | US        |      4300 | NS      | $725453.00    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| COCA-COLA CONSOLIDATED, INC.                       | COCA COLA CONSOLIDATED INC                    | CUSIP: 191098102<br>LEI: 57VG5X0E00X0QJU7CQ58 | Long             | EC               | CORP              | US        |     19700 | NS      | $3777278.00   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| LAS VEGAS SANDS CORP.                              | LAS VEGAS SANDS CORP                          | CUSIP: 517834107<br>LEI: 549300DUOO1KXOHPM605 | Long             | EC               | CORP              | US        |     41900 | NS      | $2257572.00   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| EDISON INTERNATIONAL                               | EDISON INTERNATIONAL                          | CUSIP: 281020107<br>LEI: 549300I7ROF15MAEVP56 | Long             | EC               | CORP              | US        |     22100 | NS      | $1617278.00   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| EBAY INC.                                          | EBAY INC                                      | CUSIP: 278642103<br>LEI: OML71K8X303XQONU6T67 | Long             | EC               | CORP              | US        |     31300 | NS      | $2848926.00   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| ARISTA NETWORKS, INC.                              | ARISTA NETWORKS INC                           | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |     19200 | NS      | $2357376.00   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| ENERSYS                                            | ENERSYS                                       | CUSIP: 29275Y102<br>LEI: 7ZS3DE5PN30BYUJFWP05 | Long             | EC               | CORP              | US        |     10300 | NS      | $1789316.00   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| THE KROGER CO.                                     | KROGER CO THE                                 | CUSIP: 501044101<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | EC               | CORP              | US        |     15800 | NS      | $1143288.00   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| BAKER HUGHES COMPANY                               | BAKER HUGHES CO                               | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     74500 | NS      | $4548225.00   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| TECHNIPFMC PLC                                     | TECHNIPFMC PLC                                | CUSIP: G87110105<br>LEI: 549300D5I93QWCJTCK36 | Long             | EC               | CORP              | GB        |     65700 | NS      | $4541841.00   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| CRH PUBLIC LIMITED COMPANY                         | CRH PLC                                       | CUSIP: G25508105<br>LEI: 549300MIDJNNTH068E74 | Long             | EC               | CORP              | IE        |      5700 | NS      | $599184.00    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| BORGWARNER INC.                                    | BORGWARNER INC                                | CUSIP: 099724106<br>LEI: 549300DSFX2IE88NSX47 | Long             | EC               | CORP              | US        |     61400 | NS      | $3331564.00   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA HEALTHCARE, INC.                               | HCA HEALTHCARE INC                            | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |     15100 | NS      | $7145924.00   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| DOCUSIGN, INC.                                     | DOCUSIGN INC                                  | CUSIP: 256163106<br>LEI: 549300Q7PVDWRZ39JG09 | Long             | EC               | CORP              | US        |     56400 | NS      | $2673924.00   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| US FOODS HOLDING CORP.                             | US FOODS HOLDING CORP                         | CUSIP: 912008109<br>LEI: 549300UGOZSO64CFPR97 | Long             | EC               | CORP              | US        |       900 | NS      | $82989.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| ABBVIE INC.                                        | ABBVIE INC                                    | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |     11700 | NS      | $2544633.00   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| COEUR MINING, INC.                                 | COEUR MINING INC                              | CUSIP: 192108504<br>LEI: 5493003AVK173D48DR70 | Long             | EC               | CORP              | US        |    177500 | NS      | $3331675.00   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| HF SINCLAIR CORPORATION                            | HF SINCLAIR CORP                              | CUSIP: 403949100<br>LEI: 2549009G116AM01XHN24 | Long             | EC               | CORP              | US        |     63000 | NS      | $3930570.00   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| DYCOM INDUSTRIES, INC.                             | DYCOM INDUSTRIES INC                          | CUSIP: 267475101<br>LEI: 549300F56EKTHQI3WT60 | Long             | EC               | CORP              | US        |       500 | NS      | $169410.00    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| MEDPACE HOLDINGS, INC.                             | MEDPACE HOLDINGS INC                          | CUSIP: 58506Q109<br>LEI: 549300H8TYEUVTW14A54 | Long             | EC               | CORP              | US        |      4900 | NS      | $2352931.00   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG RESOURCES, INC.                                | EOG RESOURCES INC                             | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |     20000 | NS      | $2891400.00   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLE INC.                                         | APPLE INC                                     | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |    154080 | NS      | $39103963.20  | 7.73%             |  |  |  | No            |                  1 | On Loan: No      |
| META PLATFORMS, INC.                               | META PLATFORMS INC                            | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     18800 | NS      | $10756044.00  | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| MARATHON PETROLEUM CORPORATION                     | MARATHON PETROLEUM CORP                       | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |     12400 | NS      | $3027832.00   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| MONSTER BEVERAGE CORPORATION                       | MONSTER BEVERAGE CORP                         | CUSIP: 61174X109<br>LEI: 52990090AP0E7HCB6F33 | Long             | EC               | CORP              | US        |      1400 | NS      | $101444.00    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| WATTS WATER TECHNOLOGIES, INC.                     | WATTS WATER TECHNOLOGIES INC A                | CUSIP: 942749102<br>LEI: 549300REJOO94ERQN318 | Long             | EC               | CORP              | US        |      8400 | NS      | $2438436.00   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLEGION PUBLIC LIMITED COMPANY                    | ALLEGION PLC                                  | CUSIP: G0176J109<br>LEI: 984500560CAC2E6FB757 | Long             | EC               | CORP              | IE        |      6600 | NS      | $958914.00    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| BOOKING HOLDINGS INC.                              | BOOKING HOLDINGS INC                          | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |       200 | NS      | $842064.00    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO & COMPANY                              | WELLS FARGO CO                                | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |     56000 | NS      | $4458160.00   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| NETAPP, INC.                                       | NETAPP INC                                    | CUSIP: 64110D104<br>LEI: QTX3D84DZDD5JYOCYH15 | Long             | EC               | CORP              | US        |     10700 | NS      | $1095573.00   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| BROADCOM INC.                                      | BROADCOM INC                                  | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     44200 | NS      | $13680342.00  | 2.70%             |  |  |  | No            |                  1 | On Loan: No      |
| TENET HEALTHCARE CORPORATION                       | TENET HEALTHCARE CORP                         | CUSIP: 88033G407<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | EC               | CORP              | US        |      6400 | NS      | $1207744.00   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRSTCASH HOLDINGS, INC.                           | FIRSTCASH HOLDINGS INC                        | CUSIP: 33768G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23300 | NS      | $4380400.00   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| JABIL INC.                                         | JABIL INC                                     | CUSIP: 466313103<br>LEI: 5493000CGCQY2OQU7669 | Long             | EC               | CORP              | US        |     16000 | NS      | $4250080.00   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| LEIDOS HOLDINGS, INC.                              | LEIDOS HOLDINGS INC                           | CUSIP: 525327102<br>LEI: 549300IUTGTP6EJP8124 | Long             | EC               | CORP              | US        |      8500 | NS      | $1321920.00   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| CIRRUS LOGIC, INC.                                 | CIRRUS LOGIC INC                              | CUSIP: 172755100<br>LEI: 549300NKSJEM5ZZSSV18 | Long             | EC               | CORP              | US        |       500 | NS      | $72310.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERACTIVE BROKERS GROUP, INC.                    | INTERACTIVE BROKERS GROUP INC                 | CUSIP: 45841N107<br>LEI: 5493004DT6DCDUZNDM53 | Long             | EC               | CORP              | US        |     70400 | NS      | $4721728.00   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| SIMON PROPERTY GROUP, INC.                         | SIMON PROPERTY GROUP INC                      | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |     13000 | NS      | $2424890.00   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Pepsico, Inc.                                      | PEPSICO INC                                   | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |     16000 | NS      | $2484640.00   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERIPRISE FINANCIAL, INC.                         | AMERIPRISE FINANCIAL INC                      | CUSIP: 03076C106<br>LEI: 6ZLKQF7QB6JAEKQS5388 | Long             | EC               | CORP              | US        |      8300 | NS      | $3688520.00   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| MICRON TECHNOLOGY, INC.                            | MICRON TECHNOLOGY INC                         | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |      9800 | NS      | $3310832.00   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| ASSURANT, INC.                                     | ASSURANT INC                                  | CUSIP: 04621X108<br>LEI: H3F39CAXWQRVWURFXL38 | Long             | EC               | CORP              | US        |     12500 | NS      | $2722625.00   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Philip Morris International Inc.                   | PHILIP MORRIS INTERNATIONAL INC               | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |     13600 | NS      | $2248624.00   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED THERAPEUTICS CORPORATION                    | UNITED THERAPEUTICS CORP                      | CUSIP: 91307C102<br>LEI: 5299005C4HZL4UWROC14 | Long             | EC               | CORP              | US        |      3800 | NS      | $2253324.00   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Real Estate Select Sector SPDR Fund                | STATE STREET REAL ESTATE SEL                  | CUSIP: 81369Y860<br>LEI: 549300SPMSTD3BRHL041 | Long             |  | RF                | US        |    246200 | NS      | $10052346.00  | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| FABRINET                                           | FABRINET                                      | CUSIP: G3323L100<br>LEI: 5493004TETZ6IYF7CV44 | Long             | EC               | CORP              | KY        |      8700 | NS      | $4537224.00   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO.                               | JPMORGAN CHASE CO                             | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     29700 | NS      | $8736552.00   | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| INTUIT INC.                                        | INTUIT INC                                    | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |      1200 | NS      | $518856.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| RAMBUS INC.                                        | RAMBUS INC                                    | CUSIP: 750917106<br>LEI: 2549000211GDCQSLV833 | Long             | EC               | CORP              | US        |      9100 | NS      | $782873.00    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA CORPORATION                                    | KLA CORP                                      | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |      7600 | NS      | $11190316.00  | 2.21%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED RENTALS, INC.                               | UNITED RENTALS INC                            | CUSIP: 911363109<br>LEI: 5323X5O7RN0NKFCDRY08 | Long             | EC               | CORP              | US        |      1700 | NS      | $1238552.00   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| ACCENTURE PUBLIC LIMITED COMPANY                   | ACCENTURE PLC                                 | CUSIP: G1151C101<br>LEI: 5493000EWHDSR3MZWH98 | Long             | EC               | CORP              | IE        |      3900 | NS      | $773331.00    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| RAYMOND JAMES FINANCIAL, INC.                      | RAYMOND JAMES FINANCIAL INC                   | CUSIP: 754730109<br>LEI: RGUZHJ05YTITL6D76949 | Long             | EC               | CORP              | US        |     13900 | NS      | $2012581.00   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| RENAISSANCERE HOLDINGS LTD.                        | RENAISSANCERE HOLDINGS LTD                    | CUSIP: G7496G103<br>LEI: EK6GB9U3U58PDI411C94 | Long             | EC               | CORP              | BM        |      9500 | NS      | $2823685.00   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| DELTA AIR LINES, INC.                              | DELTA AIR LINES INC                           | CUSIP: 247361702<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | EC               | CORP              | US        |     48600 | NS      | $3230928.00   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| MILLICOM INTERNATIONAL CELLULAR S.A.               | MILLICOM INTERNATIONAL CELLULAR SA            | CUSIP: L6388F110<br>LEI: 549300CTHC1CP86P2G96 | Long             | EC               | CORP              | LU        |     42400 | NS      | $3177456.00   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| THE ALLSTATE CORPORATION                           | ALLSTATE CORP THE                             | CUSIP: 020002101<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EC               | CORP              | US        |     10000 | NS      | $2073400.00   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| CBRE GROUP, INC.                                   | CBRE GROUP INC CL A                           | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |     22200 | NS      | $3007212.00   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERNATIONAL BUSINESS MACHINES CORPORATION        | INTERNATIONAL BUSINESS MACHINES CORP          | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |      8100 | NS      | $1963359.00   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES LTD.                       | ROYAL CARIBBEAN CRUISES LTD                   | CUSIP: V7780T103<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | EC               | CORP              | LR        |     15700 | NS      | $4320326.00   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| APTIV PLC                                          | APTIV HOLDINGS LTD                            | CUSIP: G3265R107<br>LEI: N/A                  | Long             | EC               | CORP              | JE        |     47900 | NS      | $3326176.00   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| COMFORT SYSTEMS USA, INC.                          | COMFORT SYSTEMS USA INC                       | CUSIP: 199908104<br>LEI: 5299009DT1ZA5HTU6R38 | Long             | EC               | CORP              | US        |      3800 | NS      | $5240162.00   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| INCYTE CORPORATION                                 | INCYTE PHARMACEUTICALS INC                    | CUSIP: 45337C102<br>LEI: 549300Z4WN6JVZ3T4680 | Long             | EC               | CORP              | US        |     23700 | NS      | $2230644.00   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| PHILLIPS 66                                        | PHILLIPS 66                                   | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |     16700 | NS      | $3042406.00   | 0.60%             |  |  |  | No            |                  1 | 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