# EDGAR Filing Document

**Accession Number:** 0000802716
**File Stem:** 0001004726-26-001305
**Filing Date:** 2026-2
**Character Count:** 38778
**Document Hash:** f855cb1a601fb9f4be6cfda78c1de27e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001004726-26-001305.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0001004726-26-001305

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260227

**DATE AS OF CHANGE**: 20260227

**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:** 26694478

**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:** 2025-12-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $525170773.74

**Total Liabilities:** $2389112.13

**Net Assets:** $522781661.61

**Cash Not Reported:** $1243258.58

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000144987 | 2.24%                | 1.65%                | -0.46%               |
| Class ID C000144984 | 2.21%                | 1.64%                | -0.49%               |
| Class ID C000144985 | 2.14%                | 1.56%                | -0.58%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $5077181.76              | $7012952.04                                |
| Month 2  | $3581350.01              | $5190060.13                                |
| Month 3  | $619663.70               | $-3258894.88                               |

### 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        |     19300 | NS      | $6824673.00   | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| ULTA BEAUTY, INC.                                  | ULTA BEAUTY INC                               | CUSIP: 90384S303<br>LEI: 529900CIV6HN8M28YM82 | Long             | EC               | CORP              | US        |      2800 | NS      | $1694028.00   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| BRIGHTSPRING HEALTH SERVICES, INC.                 | BRIGHTSPRING HEALTH SERVICES INC              | CUSIP: 10950A106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    217800 | NS      | $8156610.00   | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| AUTODESK, INC.                                     | AUTODESK INC                                  | CUSIP: 052769106<br>LEI: FRKKVKAIQEF3FCSTPG55 | Long             | EC               | CORP              | US        |     14500 | NS      | $4292145.00   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| FEDERAL SIGNAL CORPORATION                         | FEDERAL SIGNAL CORP                           | CUSIP: 313855108<br>LEI: 549300RTXZRPTNP6G884 | Long             | EC               | CORP              | US        |     44200 | NS      | $4799678.00   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| THE ENSIGN GROUP, INC.                             | ENSIGN GROUP INC THE                          | CUSIP: 29358P101<br>LEI: 5493003K4HEEA8Q0BC72 | Long             | EC               | CORP              | US        |     20800 | NS      | $3623360.00   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| MUELLER INDUSTRIES, INC.                           | MUELLER INDUSTRIES INC                        | CUSIP: 624756102<br>LEI: 5493005IZFE4VJLLYG84 | Long             | EC               | CORP              | US        |     15900 | NS      | $1825320.00   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| THE PROGRESSIVE CORPORATION                        | PROGRESSIVE CORP                              | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |      5800 | NS      | $1320776.00   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Nextpower Inc                                      | NEXTPOWER INC CL A                            | CUSIP: 65290E101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     28700 | NS      | $2500057.00   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| ROYAL GOLD, INC.                                   | ROYAL GOLD INC                                | CUSIP: 780287108<br>LEI: 5493001NGRU6SFL04184 | Long             | EC               | CORP              | US        |     15000 | NS      | $3334350.00   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA CORPORATION                                 | NVIDIA CORP                                   | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |    220200 | NS      | $41067300.00  | 7.86%             |  |  |  | No            |                  1 | On Loan: No      |
| AMPHENOL CORPORATION                               | AMPHENOL CORP CLASS A                         | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |     50300 | NS      | $6797542.00   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| CENCORA, INC.                                      | CENCORA INC                                   | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |     15900 | NS      | $5370225.00   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| EMCOR GROUP, INC.                                  | EMCOR GROUP INC                               | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               | CORP              | US        |      4800 | NS      | $2936592.00   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| DOLLAR GENERAL CORPORATION                         | DOLLAR GENERAL CORP                           | CUSIP: 256677105<br>LEI: OPX52SQVOZI8IVSWYU66 | Long             | EC               | CORP              | US        |     28400 | NS      | $3770668.00   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| NATIONAL FUEL GAS COMPANY                          | NATIONAL FUEL GAS CO                          | CUSIP: 636180101<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | EC               | CORP              | US        |     21600 | NS      | $1729296.00   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLIED MATERIALS, INC.                            | APPLIED MATERIALS INC                         | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |      1300 | NS      | $334087.00    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| NETFLIX, INC.                                      | NETFLIX INC                                   | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |     33000 | NS      | $3094080.00   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| ARCHROCK INC.                                      | ARCHROCK INC                                  | CUSIP: 03957W106<br>LEI: 549300K3RIHMHDVFTL28 | Long             | EC               | CORP              | US        |     11500 | NS      | $299230.00    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| INVESCO GOVERNMENT & AGENCY PORTFOLIO              | INVESCO GVT & AGNCY-INST                      | CUSIP: 825252885<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    463840 | NS      | $463840.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| GENERAL MOTORS COMPANY                             | GENERAL MOTORS CO                             | CUSIP: 37045V100<br>LEI: 54930070NSV60J38I987 | Long             | EC               | CORP              | US        |     35900 | NS      | $2919388.00   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| MICROSOFT CORPORATION                              | MICROSOFT CORP                                | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     64160 | NS      | $31029059.20  | 5.94%             |  |  |  | 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      | $2726361.00   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| MCKESSON CORPORATION                               | MCKESSON CORP                                 | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |      6900 | NS      | $5660001.00   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| AMAZON.COM, INC.                                   | AMAZON COM INC                                | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     79600 | NS      | $18373272.00  | 3.51%             |  |  |  | No            |                  1 | On Loan: No      |
| AFFILIATED MANAGERS GROUP, INC.                    | AFFILIATED MANAGERS GROUP INC                 | CUSIP: 008252108<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EC               | CORP              | US        |     32400 | NS      | $9340272.00   | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| ALPHABET INC.                                      | ALPHABET INC CLASS A                          | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     93560 | NS      | $29284280.00  | 5.60%             |  |  |  | No            |                  1 | On Loan: No      |
| MSILF Government Portfolio                         | MSILF GOVERNMENT-INST                         | CUSIP: 61747C707<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    463840 | NS      | $463840.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| NEWMONT CORPORATION                                | NEWMONT CORP                                  | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |     36000 | NS      | $3594600.00   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| EXXON MOBIL CORPORATION                            | EXXON MOBIL CORP                              | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     41800 | NS      | $5030212.00   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| VICI PROPERTIES INC.                               | VICI PROPERTIES INC                           | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |     32900 | NS      | $925148.00    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| NewMarket Corporation                              | NEWMARKET CORP                                | CUSIP: 651587107<br>LEI: 54930082CG88ERDREQ47 | Long             | EC               | CORP              | US        |      2200 | NS      | $1511972.00   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| TAPESTRY, INC.                                     | TAPESTRY INC                                  | CUSIP: 876030107<br>LEI: 549300LJNVY5SW3VTN33 | Long             | EC               | CORP              | US        |      4600 | NS      | $587742.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| RESMED INC.                                        | RESMED INC                                    | CUSIP: 761152107<br>LEI: 529900T3QE5253CCXF22 | Long             | EC               | CORP              | US        |      1300 | NS      | $313131.00    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| CATERPILLAR INC.                                   | CATERPILLAR INC                               | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |      5300 | NS      | $3036211.00   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| F5, INC.                                           | F5 Inc                                        | CUSIP: 315616102<br>LEI: 54930015FPK9KT966303 | Long             | EC               | CORP              | US        |      8000 | NS      | $2042080.00   | 0.39%             |  |  |  | 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      | $3955500.00   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| UNIVERSAL HEALTH SERVICES, INC.                    | UNIVERSAL HEALTH SERVICES                     | CUSIP: 913903100<br>LEI: 549300YGMGQDO0NMJD09 | Long             | EC               | CORP              | US        |     17900 | NS      | $3902558.00   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| TRANE TECHNOLOGIES PLC                             | TRANE TECHNOLOGIES PLC                        | CUSIP: G8994E103<br>LEI: 549300BURLR9SLYY2705 | Long             | EC               | CORP              | IE        |     14800 | NS      | $5760160.00   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Credo Technology Group Holding Ltd                 | CREDO TECHNOLOGY GROUP HOLDING LTD            | CUSIP: G25457105<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     12000 | NS      | $1726680.00   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co., Ltd.       | TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD ADR | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             |  | CORP              | TW        |     21800 | NS      | $6624802.00   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBE LIFE INC.                                    | GLOBE LIFE INC                                | CUSIP: 37959E102<br>LEI: 5493001JFHKQOPP6XA71 | Long             | EC               | CORP              | US        |      5400 | NS      | $755244.00    | 0.14%             |  |  |  | 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        |     68900 | NS      | $7998601.00   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG                                        | NOVARTIS AG                                   | CUSIP: 66987V109<br>LEI: 5493007HIVTX6SY6XD66 | Long             |  | CORP              | CH        |     40900 | NS      | $5638883.00   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| NRG ENERGY, INC.                                   | NRG ENERGY INC                                | CUSIP: 629377508<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | EC               | CORP              | US        |     13400 | NS      | $2133816.00   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| HALOZYME THERAPEUTICS, INC.                        | HALOZYME THERAPEUTICS INC                     | CUSIP: 40637H109<br>LEI: 529900242I3SV9AGM753 | Long             | EC               | CORP              | US        |     96300 | NS      | $6480990.00   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| CASEY'S GENERAL STORES, INC.                       | CASEY S GENERAL STORES INC                    | CUSIP: 147528103<br>LEI: 549300CAFWSI86V66Q65 | Long             | EC               | CORP              | US        |      9600 | NS      | $5306016.00   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| ELI LILLY AND COMPANY                              | ELI LILLY CO                                  | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |     12100 | NS      | $13003628.00  | 2.49%             |  |  |  | No            |                  1 | On Loan: No      |
| MOTOROLA SOLUTIONS, INC.                           | MOTOROLA SOLUTIONS INC                        | CUSIP: 620076307<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | EC               | CORP              | US        |      4600 | NS      | $1763272.00   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| EXPEDIA GROUP, INC.                                | EXPEDIA GROUP INC                             | CUSIP: 30212P303<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     38700 | NS      | $10964097.00  | 2.10%             |  |  |  | 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        |    463840 | NS      | $463840.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| VISTRA CORP.                                       | VISTRA CORP                                   | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |      6300 | NS      | $1016379.00   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| VISA INC.                                          | VISA INC CLASS A                              | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |     15900 | NS      | $5576289.00   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| EBAY INC.                                          | EBAY INC                                      | CUSIP: 278642103<br>LEI: OML71K8X303XQONU6T67 | Long             | EC               | CORP              | US        |     31300 | NS      | $2726230.00   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| ARISTA NETWORKS, INC.                              | ARISTA NETWORKS INC                           | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |     20700 | NS      | $2712321.00   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| THE KROGER CO.                                     | KROGER CO THE                                 | CUSIP: 501044101<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | EC               | CORP              | US        |     15800 | NS      | $987184.00    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| BAKER HUGHES COMPANY                               | BAKER HUGHES CO                               | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     74500 | NS      | $3392730.00   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| TECHNIPFMC PLC                                     | TECHNIPFMC PLC                                | CUSIP: G87110105<br>LEI: 549300D5I93QWCJTCK36 | Long             | EC               | CORP              | GB        |     82400 | NS      | $3671744.00   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| CRH PUBLIC LIMITED COMPANY                         | CRH PLC                                       | CUSIP: G25508105<br>LEI: 549300MIDJNNTH068E74 | Long             | EC               | CORP              | IE        |      5700 | NS      | $711360.00    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA HEALTHCARE, INC.                               | HCA HEALTHCARE INC                            | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |     15900 | NS      | $7423074.00   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| COEUR MINING, INC.                                 | COEUR MINING INC                              | CUSIP: 192108504<br>LEI: 5493003AVK173D48DR70 | Long             | EC               | CORP              | US        |    177500 | NS      | $3164825.00   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| HF SINCLAIR CORPORATION                            | HF SINCLAIR CORP                              | CUSIP: 403949100<br>LEI: 2549009G116AM01XHN24 | Long             | EC               | CORP              | US        |     63000 | NS      | $2903040.00   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| EXLSERVICE HOLDINGS, INC.                          | EXLSERVICE HOLDINGS INC                       | CUSIP: 302081104<br>LEI: 81E3DTNF6OSH489ZOV15 | Long             | EC               | CORP              | US        |     50200 | NS      | $2130488.00   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| QUANTA SERVICES, INC.                              | QUANTA SERVICES INC                           | CUSIP: 74762E102<br>LEI: SHVRXXEACT60MMH07S24 | Long             | EC               | CORP              | US        |      1400 | NS      | $590884.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG RESOURCES, INC.                                | EOG RESOURCES INC                             | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |     20000 | NS      | $2100200.00   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLE INC.                                         | APPLE INC                                     | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |    154080 | NS      | $41888188.80  | 8.01%             |  |  |  | No            |                  1 | On Loan: No      |
| META PLATFORMS, INC.                               | META PLATFORMS INC                            | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     18800 | NS      | $12409692.00  | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| PALANTIR TECHNOLOGIES INC.                         | PALANTIR TECHNOLOGIES INC                     | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |     26900 | NS      | $4781475.00   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| MARATHON PETROLEUM CORPORATION                     | MARATHON PETROLEUM CORP                       | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |     12400 | NS      | $2016612.00   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| MONSTER BEVERAGE CORPORATION                       | MONSTER BEVERAGE CORP                         | CUSIP: 61174X109<br>LEI: 52990090AP0E7HCB6F33 | Long             | EC               | CORP              | US        |      1400 | NS      | $107338.00    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLEGION PUBLIC LIMITED COMPANY                    | ALLEGION PLC                                  | CUSIP: G0176J109<br>LEI: 984500560CAC2E6FB757 | Long             | EC               | CORP              | IE        |      6600 | NS      | $1050852.00   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO & COMPANY                              | WELLS FARGO CO                                | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |     76000 | NS      | $7083200.00   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| BROADCOM INC.                                      | BROADCOM INC                                  | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     44200 | NS      | $15297620.00  | 2.93%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRSTCASH HOLDINGS, INC.                           | FIRSTCASH HOLDINGS INC                        | CUSIP: 33768G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     36400 | NS      | $5801432.00   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| JABIL INC.                                         | JABIL INC                                     | CUSIP: 466313103<br>LEI: 5493000CGCQY2OQU7669 | Long             | EC               | CORP              | US        |     16000 | NS      | $3648320.00   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| CIRRUS LOGIC, INC.                                 | CIRRUS LOGIC INC                              | CUSIP: 172755100<br>LEI: 549300NKSJEM5ZZSSV18 | Long             | EC               | CORP              | US        |       500 | NS      | $59250.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERACTIVE BROKERS GROUP, INC.                    | INTERACTIVE BROKERS GROUP INC                 | CUSIP: 45841N107<br>LEI: 5493004DT6DCDUZNDM53 | Long             | EC               | CORP              | US        |     81900 | NS      | $5266989.00   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| PURE STORAGE, INC.                                 | PURE STORAGE INC                              | CUSIP: 74624M102<br>LEI: 549300NPDB0BZTK3WO90 | Long             | EC               | CORP              | US        |      1900 | NS      | $127319.00    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| SIMON PROPERTY GROUP, INC.                         | SIMON PROPERTY GROUP INC                      | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |     13000 | NS      | $2406430.00   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Pepsico, Inc.                                      | PEPSICO INC                                   | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |     25200 | NS      | $3616704.00   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERIPRISE FINANCIAL, INC.                         | AMERIPRISE FINANCIAL INC                      | CUSIP: 03076C106<br>LEI: 6ZLKQF7QB6JAEKQS5388 | Long             | EC               | CORP              | US        |      8300 | NS      | $4069822.00   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| ASSURANT, INC.                                     | ASSURANT INC                                  | CUSIP: 04621X108<br>LEI: H3F39CAXWQRVWURFXL38 | Long             | EC               | CORP              | US        |     18100 | NS      | $4359385.00   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Philip Morris International Inc.                   | PHILIP MORRIS INTERNATIONAL INC               | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |     13600 | NS      | $2181440.00   | 0.42%             |  |  |  | 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      | $9934170.00   | 1.90%             |  |  |  | No            |                  1 | On Loan: —       |
| FABRINET                                           | FABRINET                                      | CUSIP: G3323L100<br>LEI: 5493004TETZ6IYF7CV44 | Long             | EC               | CORP              | KY        |      9200 | NS      | $4188576.00   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO.                               | JPMORGAN CHASE CO                             | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     28800 | NS      | $9279936.00   | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| RAMBUS INC.                                        | RAMBUS INC                                    | CUSIP: 750917106<br>LEI: 2549000211GDCQSLV833 | Long             | EC               | CORP              | US        |      9100 | NS      | $836199.00    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA CORPORATION                                    | KLA CORP                                      | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |      8200 | NS      | $9963656.00   | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED RENTALS, INC.                               | UNITED RENTALS INC                            | CUSIP: 911363109<br>LEI: 5323X5O7RN0NKFCDRY08 | Long             | EC               | CORP              | US        |      1700 | NS      | $1375844.00   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| ASTRAZENECA PLC                                    | ASTRAZENECA PLC                               | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             |  | CORP              | GB        |     62100 | NS      | $5708853.00   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| RAYMOND JAMES FINANCIAL, INC.                      | RAYMOND JAMES FINANCIAL INC                   | CUSIP: 754730109<br>LEI: RGUZHJ05YTITL6D76949 | Long             | EC               | CORP              | US        |     29900 | NS      | $4801641.00   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| UBER TECHNOLOGIES, INC.                            | UBER TECHNOLOGIES INC                         | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |     27600 | NS      | $2255196.00   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| THE WALT DISNEY COMPANY                            | WALT DISNEY CO THE                            | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |     46200 | NS      | $5256174.00   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| MILLICOM INTERNATIONAL CELLULAR S.A.               | MILLICOM INTERNATIONAL CELLULAR SA            | CUSIP: L6388F110<br>LEI: 549300CTHC1CP86P2G96 | Long             | EC               | CORP              | LU        |     35700 | NS      | $1979208.00   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| GEN DIGITAL INC.                                   | GEN DIGITAL INC                               | CUSIP: 668771108<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | EC               | CORP              | US        |     23800 | NS      | $647122.00    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| CBRE GROUP, INC.                                   | CBRE GROUP INC CL A                           | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |     19400 | NS      | $3119326.00   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS FINANCIAL SQUARE GOVERNMENT FUND     | GLDMN SCHS FIN SQ GV-FST                      | CUSIP: 38141W273<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    463840 | NS      | $463840.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES LTD.                       | ROYAL CARIBBEAN CRUISES LTD                   | CUSIP: V7780T103<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | EC               | CORP              | LR        |     15000 | NS      | $4183800.00   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| APTIV PLC                                          | APTIV HOLDINGS LTD                            | CUSIP: G3265R107<br>LEI: N/A                  | Long             | EC               | CORP              | JE        |     10200 | NS      | $776118.00    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| COMFORT SYSTEMS USA, INC.                          | COMFORT SYSTEMS USA INC                       | CUSIP: 199908104<br>LEI: 5299009DT1ZA5HTU6R38 | Long             | EC               | CORP              | US        |      4000 | NS      | $3733160.00   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| PHILLIPS 66                                        | PHILLIPS 66                                   | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |     18200 | NS      | $2348528.00   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-30

**Name of Applicant:** Victory Portfolios

**Signature:** Carol Trevino

**Name of Signer:** Carol Trevino

**Title:** Treasurer