# EDGAR Filing Document

**Accession Number:** 0000908695
**File Stem:** 0001752724-23-011820
**Filing Date:** 2023-1
**Character Count:** 48525
**Document Hash:** 892ac69e6d2b82b4a8d6d1aef4ff318e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-011820.hdr.sgml**: 20230125

**ACCESSION NUMBER**: 0001752724-23-011820

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230125

**DATE AS OF CHANGE**: 20230125

**PERIOD START**: 20230531

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** USAA MUTUAL FUNDS TRUST
- **CENTRAL INDEX KEY:** 0000908695
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07852
- **FILM NUMBER:** 23550871

**BUSINESS ADDRESS:**
- **STREET 1:** 15935 LA CANTERA PARKWAY
- **STREET 2:** BUILDING TWO
- **CITY:** SAN ANTONIO
- **STATE:** TX
- **ZIP:** 78256
- **BUSINESS PHONE:** 210-697-3625

**MAIL ADDRESS:**
- **STREET 1:** 15935 LA CANTERA PARKWAY
- **STREET 2:** BUILDING TWO
- **CITY:** SAN ANTONIO
- **STATE:** TX
- **ZIP:** 78256

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** USAA STATE TAX FREE TRUST
- **DATE OF NAME CHANGE:** 19940325

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** USAA STATE TAX EXEMPT TRUST
- **DATE OF NAME CHANGE:** 19930707

## Series and Classes Contracts Data

### Cornerstone Moderately Conservative Fund (Series ID: S000037225)

| Class ID   | Class Name                               | Ticker Symbol   |
|:---|:---|:---|
| C000114651 | Cornerstone Moderately Conservative Fund | UCMCX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** USAA Mutual Funds Trust

- **b. Investment Company Act file number:** 811-07852

- **c. CIK number of Registrant:** 0000908695

- **d. LEI of Registrant:** 549300WIDR2J6W1Y9S11

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 15935 La Cantera Pkwy Building Two

  - **City:** San Antonio

  - **State:** TX

  - **Foreign country:** US

  - **Zip / Postal Code:** 78256

  - **Telephone number:** 800-235-8396

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

- **a. Name of Series:** Cornerstone Moderately Conservative Fund

- **b. EDGAR series identifier (if any):** S000037225

- **c. LEI of Series:** 5493009X92BBOGUXP851

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

- **a. Date of fiscal year-end:** 2023-05-31

- **b. Date as of which information is reported:** 2022-11-30

**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:** $194296253.31

**Total Liabilities:** $6716366.39

**Net Assets:** $187579886.92

**Cash Not Reported:** $2369961.22

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000114651 | -6.08%               | 2.40%                | 5.47%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-892055.27              | $-10693965.05                              |
| Month 2  | $-1624317.66             | $5320671.97                                |
| Month 3  | $-40533.94               | $9590997.65                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| NEWMONT CORPORATION                                      | NEWMONT CORP                                       | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |      2094 | NS      | $99402.18     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| ABBOTT LABORATORIES                                      | ABBOTT LABORATORIES                                | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |      4740 | NS      | $509929.20    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco FTSE RAFI Emerging Markets ETF                   | INVESCO FTSE RAFI EMERGING MARKETS ETF             | CUSIP: 46138E727<br>LEI: N/A                  | Long             |  | RF                | US        |     86305 | NS      | $1559531.35   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| MSILF Government Portfolio                               | MSILF GOVERNMENT-INST                              | CUSIP: 61747C707<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   1565018 | NS      | $1565017.56   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| ASX SPI 200 INDEX FUTURE DEC22                           | ASX SPI 200 INDEX FUTURE DEC22                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | AU        |       -13 | NC      | $-82128.48    | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| HANG SENG INDEX FUTURE DEC22                             | HANG SENG INDEX FUTURE DEC22                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | HK        |       -13 | NC      | $-80616.93    | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| ROBERT HALF INTERNATIONAL INC.                           | ROBERT HALF INTERNATIONAL INC                      | CUSIP: 770323103<br>LEI: 529900VPCUY9H3HLIC08 | Long             | EC               | CORP              | US        |      4847 | NS      | $381846.66    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| LAM RESEARCH CORPORATION                                 | LAM RESEARCH CORP                                  | CUSIP: 512807108<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |       405 | NS      | $191313.90    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| ABBVIE INC.                                              | ABBVIE INC                                         | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |      2320 | NS      | $373937.60    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Mortgage-Backed Secs Idx Fund                   | VANGUARD MORTGAGE BACKED SECURITIES ETF            | CUSIP: 92206C771<br>LEI: N/A                  | Long             |  | RF                | US        |     56777 | NS      | $2616851.93   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares iBoxx $ High Yield Corporate Bond Fund           | ISHARES IBOXX HIGH YIELD CORPORATE BOND ETF        | CUSIP: 464288513<br>LEI: N/A                  | Long             |  | RF                | US        |     91905 | NS      | $6953532.30   | 3.71%             |  |  |  | No            |                  1 | On Loan: —       |
| Xtrackers USD High Yld Corporate Bd ETF                  | XTRACKERS USD HIGH YIELD CORPORATE BOND ETF        | CUSIP: 233051432<br>LEI: N/A                  | Long             |  | RF                | US        |     69791 | NS      | $2416164.42   | 1.29%             |  |  |  | No            |                  1 | On Loan: —       |
| AMGEN INC.                                               | AMGEN INC                                          | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |      1220 | NS      | $349408.00    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares MSCI Intl Quality Factor ETF                     | ISHARES MSCI INTERNA                               | CUSIP: 46434V456<br>LEI: N/A                  | Long             |  | RF                | US        |     81444 | NS      | $2719415.16   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION               | COGNIZANT TECHNOLOGY SOLUTIONS CORP                | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |      3285 | NS      | $204359.85    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM INCORPORATED                                    | QUALCOMM INC                                       | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |      4064 | NS      | $514055.36    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| VISA INC.                                                | VISA INC CLASS A                                   | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      1582 | NS      | $343294.00    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| HP INC.                                                  | HP INC                                             | CUSIP: 40434L105<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | EC               | CORP              | US        |      6716 | NS      | $201748.64    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| SWISS MARKET INDEX FUTURE DEC22                          | SWISS MARKET INDEX FUTURE DEC22                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | CH        |       -14 | NC      | $-35944.59    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| iShares Core S&P 500 ETF                                 | ISHARES CORE S P 500 ETF                           | CUSIP: 464287200<br>LEI: N/A                  | Long             |  | RF                | US        |      3510 | NS      | $1436713.20   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO.                                     | JPMORGAN CHASE CO                                  | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      3771 | NS      | $521076.78    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| PAYCHEX, INC.                                            | PAYCHEX INC                                        | CUSIP: 704326107<br>LEI: 529900K900DW6SUBM174 | Long             | EC               | CORP              | US        |      3715 | NS      | $460771.45    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| EURO STOXX 50 FUTURE DEC22                               | EURO STOXX 50 FUTURE DEC22                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | N/A       |        47 | NC      | $193226.24    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Developed Markets Index Fund                    | VANGUARD FTSE DEVELOPED MARKET                     | CUSIP: 921943858<br>LEI: N/A                  | Long             |  | RF                | US        |    125318 | NS      | $5440054.38   | 2.90%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares MSCI Canada ETF                                  | ISHARES MSCI CANADA ETF                            | CUSIP: 464286509<br>LEI: N/A                  | Long             |  | RF                | US        |     27600 | NS      | $971244.00    | 0.52%             |  |  |  | No            |                  1 | On Loan: —       |
| Philip Morris International Inc.                         | PHILIP MORRIS INTERNATIONAL INC                    | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |      4446 | NS      | $443132.82    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| THE GOLDMAN SACHS GROUP, INC.                            | GOLDMAN SACHS GROUP INC                            | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |       713 | NS      | $275324.95    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| DIGITAL REALTY TRUST, INC.                               | DIGITAL REALTY TRUST INC                           | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |      1029 | NS      | $115721.34    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard 500 Index Fund                                  | VANGUARD S P 500 ETF                               | CUSIP: 922908363<br>LEI: N/A                  | Long             |  | RF                | US        |      1293 | NS      | $484215.57    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITEDHEALTH GROUP INCORPORATED                          | UNITEDHEALTH GROUP INC                             | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |       729 | NS      | $399317.04    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| SIGNATURE BANK                                           | SIGNATURE BANK NEW YORK NY                         | CUSIP: 82669G104<br>LEI: VLP5AP0XK2GM6GKD1007 | Long             | EC               | CORP              | US        |      1113 | NS      | $155263.50    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Altria Group, Inc.                                       | ALTRIA GROUP INC                                   | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |     13458 | NS      | $626873.64    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| MASTERCARD INCORPORATED.                                 | MASTERCARD INC CLASS A                             | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |       294 | NS      | $104781.60    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Small Cap Value ETF                             | VANGUARD SMALL CAP VALUE ETF                       | CUSIP: 922908611<br>LEI: N/A                  | Long             |  | RF                | US        |     11516 | NS      | $1952422.64   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| VictoryShares USAA Core Short-Term Bond ETF              | VICTORYSHARES USAA CORE SHORT                      | CUSIP: 92647N535<br>LEI: N/A                  | Long             |  | RF                | US        |     69125 | NS      | $3367189.35   | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| BROADCOM INC.                                            | BROADCOM INC                                       | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |      1313 | NS      | $723502.39    | 0.39%             |  |  |  | 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        |   1565018 | NS      | $1565017.56   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| 3M COMPANY                                               | 3M CO                                              | CUSIP: 88579Y101<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | EC               | CORP              | US        |      4026 | NS      | $507155.22    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Core MSCI Emerging Markets ETF                   | ISHARES CORE MSCI EMERGING                         | CUSIP: 46434G103<br>LEI: N/A                  | Long             |  | RF                | US        |     84595 | NS      | $4107933.20   | 2.19%             |  |  |  | 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        |   1565018 | NS      | $1565017.57   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| MICROSOFT CORPORATION                                    | MICROSOFT CORP                                     | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      8543 | NS      | $2179661.02   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| FTSE 100 INDEX FUTURE DEC22                              | FTSE 100 INDEX FUTURE DEC22                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | GB        |        34 | NC      | $102089.87    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| AUTOMATIC DATA PROCESSING, INC.                          | AUTOMATIC DATA PROCESSING INC                      | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |       907 | NS      | $239574.98    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| MOTOROLA SOLUTIONS, INC.                                 | MOTOROLA SOLUTIONS INC                             | CUSIP: 620076307<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | EC               | CORP              | US        |       597 | NS      | $162503.40    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Gold Shares                                         | SPDR GOLD SHARES ETF                               | CUSIP: 78463V107<br>LEI: N/A                  | Long             |  | RF                | US        |      6517 | NS      | $1074066.77   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| LENNAR CORPORATION                                       | LENNAR CORP CLASS A                                | CUSIP: 526057104<br>LEI: 529900G61XVRLX5TJX09 | Long             | EC               | CORP              | US        |      6836 | NS      | $600405.88    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| TERADYNE, INC.                                           | TERADYNE INC                                       | CUSIP: 880770102<br>LEI: C3X4YJ278QNZHRJULN75 | Long             | EC               | CORP              | US        |      2398 | NS      | $224093.10    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN TOWER CORPORATION                               | AMERICAN TOWER CORP REIT                           | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |       564 | NS      | $124785.00    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| SYNCHRONY FINANCIAL                                      | SYNCHRONY FINANCIAL                                | CUSIP: 87165B103<br>LEI: 549300RS7EWPM9MA6C78 | Long             | EC               | CORP              | US        |      9204 | NS      | $345886.32    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED PARCEL SERVICE, INC.                              | UNITED PARCEL SERVICE INC                          | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |      2732 | NS      | $518342.36    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| MASCO CORPORATION                                        | MASCO CORP                                         | CUSIP: 574599106<br>LEI: 5GCSNMQXHEYA1JO8QN11 | Long             | EC               | CORP              | US        |      7692 | NS      | $390599.76    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| First Trust TCW Securitized Plus ETF                     | FIRST TRUST TCW SECURITIZED PLUS ETF               | CUSIP: 33740U109<br>LEI: N/A                  | Long             |  | RF                | US        |    136569 | NS      | $2918479.53   | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERNATIONAL BUSINESS MACHINES CORPORATION              | INTERNATIONAL BUSINESS MACHINES CORP               | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |      2684 | NS      | $399647.60    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| PROLOGIS, INC.                                           | PROLOGIS INC                                       | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |      1532 | NS      | $180454.28    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| CARDINAL HEALTH, INC.                                    | CARDINAL HEALTH INC                                | CUSIP: 14149Y108<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | EC               | CORP              | US        |      3952 | NS      | $316831.84    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Core S&P Small-Cap ETF                           | ISHARES CORE S P SMALL CAP ETF                     | CUSIP: 464287804<br>LEI: N/A                  | Long             |  | RF                | US        |     39211 | NS      | $3993248.24   | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T INC.                                                | AT T INC                                           | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |     30371 | NS      | $585552.88    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| PINNACLE WEST CAPITAL CORPORATION                        | PINNACLE WEST CAPITAL CORP                         | CUSIP: 723484101<br>LEI: TWSEY0NEDUDCKS27AH81 | Long             | EC               | CORP              | US        |      2352 | NS      | $184208.64    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| VictoryShares USAA Core Intermediate-Term Bond ETF       | VICTORYSHARES USAA CORE INTERM                     | CUSIP: 92647N527<br>LEI: N/A                  | Long             |  | RF                | US        |   1217107 | NS      | $55794132.25  | 29.74%            |  |  |  | No            |                  1 | On Loan: No      |
| EBAY INC.                                                | EBAY INC                                           | CUSIP: 278642103<br>LEI: OML71K8X303XQONU6T67 | Long             | EC               | CORP              | US        |      5443 | NS      | $247329.92    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares 20 Year Treasury Bond ETF                        | ISHARES 20 YEAR TREASURY BO                        | CUSIP: 464287432<br>LEI: N/A                  | Long             |  | RF                | US        |      5248 | NS      | $539127.04    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| NETAPP, INC.                                             | NETAPP INC                                         | CUSIP: 64110D104<br>LEI: QTX3D84DZDD5JYOCYH15 | Long             | EC               | CORP              | US        |      1703 | NS      | $115139.83    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| WEST PHARMACEUTICAL SERVICES, INC.                       | WEST PHARMACEUTICAL SERVICES INC                   | CUSIP: 955306105<br>LEI: 5493007NKRGM1RJQ1P16 | Long             | EC               | CORP              | US        |      1707 | NS      | $400564.62    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| BRISTOL-MYERS SQUIBB COMPANY                             | BRISTOL MYERS SQUIBB CO                            | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |      2117 | NS      | $169952.76    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Russell 2000 ETF                                 | ISHARES RUSSELL 2000 ETF                           | CUSIP: 464287655<br>LEI: N/A                  | Long             |  | RF                | US        |     10828 | NS      | $2028842.36   | 1.08%             |  |  |  | No            |                  1 | On Loan: —       |
| APPLE INC.                                               | APPLE INC                                          | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     14457 | NS      | $2140069.71   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| THE HARTFORD FINANCIAL SERVICES GROUP, INC.              | HARTFORD FINANCIAL SERVICES GROUP INC              | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               | CORP              | US        |      5325 | NS      | $406670.25    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Barclays 7-10 Year Treasury Bond Fund            | ISHARES 7 10 YEAR TREASURY BOND ETF                | CUSIP: 464287440<br>LEI: N/A                  | Long             |  | RF                | US        |     34855 | NS      | $3402196.55   | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| VictoryShares ESG Core Plus Bond ETF                     | VICTORYSHARES ESG CORE PLUS BOND ETF               | CUSIP: 92647X863<br>LEI: N/A                  | Long             |  | RF                | US        |    686365 | NS      | $14652245.47  | 7.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Schwab Fundamental EM Large Company Index ETF            | SCHWAB FUNDAMENTAL EMERGING MARKETS LARGE COMPANY  | CUSIP: 808524730<br>LEI: N/A                  | Long             |  | RF                | US        |    170705 | NS      | $4501490.85   | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |
| NUCOR CORPORATION                                        | NUCOR CORP                                         | CUSIP: 670346105<br>LEI: 549300GGJCRSI2TIEJ46 | Long             | EC               | CORP              | US        |       562 | NS      | $84271.90     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco DB Commodity Index Tracking Fund                 | INVESCO DB COMMODITY INDEX TRACKING FUND           | CUSIP: 46138B103<br>LEI: N/A                  | Long             |  | RF                | US        |     22900 | NS      | $583721.00    | 0.31%             |  |  |  | No            |                  1 | On Loan: —       |
| VictoryShares Emerging Markets Value Momentum ETF        | VICTORYSHARES EMERGING MARKETS                     | CUSIP: 92647N543<br>LEI: N/A                  | Long             |  | RF                | US        |      9770 | NS      | $393828.70    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| OMNICOM GROUP INC.                                       | OMNICOM GROUP INC                                  | CUSIP: 681919106<br>LEI: HKUPACFHSSASQK8HLS17 | Long             | EC               | CORP              | US        |      3223 | NS      | $257066.48    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| ONEOK, INC.                                              | ONEOK INC                                          | CUSIP: 682680103<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | EC               | CORP              | US        |      1202 | NS      | $80437.84     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| GILEAD SCIENCES, INC.                                    | GILEAD SCIENCES INC                                | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |      7989 | NS      | $701673.87    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Short-Term Bond Index Fund                      | VANGUARD SHORT TERM BOND ETF                       | CUSIP: 921937827<br>LEI: N/A                  | Long             |  | RF                | US        |     55190 | NS      | $4166845.00   | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUINIX, INC.                                            | EQUINIX INC                                        | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |        80 | NS      | $55252.00     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| MEDTRONIC PUBLIC LIMITED COMPANY                         | MEDTRONIC PLC                                      | CUSIP: G5960L103<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |      2873 | NS      | $227081.92    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Evergy, Inc.                                             | EVERGY INC                                         | CUSIP: 30034W106<br>LEI: 549300PGTHDQY6PSUI61 | Long             | EC               | CORP              | US        |      5325 | NS      | $315293.25    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| TOKYO PRICE INDEX FUTURE DEC22                           | TOKYO PRICE INDEX FUTURE DEC22                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | JP        |       -11 | NC      | $-25867.53    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| AMERIPRISE FINANCIAL, INC.                               | AMERIPRISE FINANCIAL INC                           | CUSIP: 03076C106<br>LEI: 6ZLKQF7QB6JAEKQS5388 | Long             | EC               | CORP              | US        |      2065 | NS      | $685476.75    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| CISCO SYSTEMS, INC.                                      | CISCO SYSTEMS INC                                  | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |     11339 | NS      | $563775.08    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Schwab Fundamental Intl Large Company Index ETF          | SCHWAB FUNDAMENTAL INTERNATIONAL LARGE COMPANY IND | CUSIP: 808524755<br>LEI: N/A                  | Long             |  | RF                | US        |    237343 | NS      | $7167758.60   | 3.82%             |  |  |  | No            |                  1 | On Loan: No      |
| WisdomTree Emerging Markets SmallCap Dividend Fund       | WISDOMTREE EMERGING MARKETS SMALLCAP DIVIDEND FUND | CUSIP: 97717W281<br>LEI: N/A                  | Long             |  | RF                | US        |      5259 | NS      | $236181.69    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Spdr S&P Emerging Markets Small Cap Etf                  | SPDR S P EMERGING MARKETS SMALLCAP ETF             | CUSIP: 78463X756<br>LEI: N/A                  | Long             |  | RF                | US        |      7496 | NS      | $377798.40    | 0.20%             |  |  |  | No            |                  1 | On Loan: —       |
| REGIONS FINANCIAL CORPORATION                            | REGIONS FINANCIAL CORP                             | CUSIP: 7591EP100<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EC               | CORP              | US        |      5684 | NS      | $131925.64    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCK & CO., INC.                                        | MERCK CO INC                                       | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |      2844 | NS      | $313181.28    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Idx Fund                                        | VANGUARD TOTAL STOCK MARKET ETF                    | CUSIP: 922908769<br>LEI: N/A                  | Long             |  | RF                | US        |      7715 | NS      | $1574322.90   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard FTSE All World ex US Index Fund Investor Shares | VANGUARD FTSE ALL WORLD EX US ETF                  | CUSIP: 922042775<br>LEI: N/A                  | Long             |  | RF                | US        |     16008 | NS      | $830815.20    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Oil Fund LP                                | UNITED STATES OIL FUND LP                          | CUSIP: 91232N207<br>LEI: N/A                  | Long             |  | RF                | US        |      2124 | NS      | $149168.52    | 0.08%             |  |  |  | No            |                  1 | On Loan: —       |
| Invesco FTSE RAFI Developed Mkts ex-US ETF               | INVESCO FTSE RAFI DEVELOPED MARKETS EX US ETF      | CUSIP: 46138E743<br>LEI: N/A                  | Long             |  | RF                | US        |     35176 | NS      | $1488648.32   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| INTEL CORPORATION                                        | INTEL CORP                                         | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |     16703 | NS      | $502259.21    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| RUSSELL 2000 MINI INDEX FUTURE DEC22                     | RUSSELL 2000 MINI INDEX FUTURE DEC22               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -11 | NC      | $-47663.10    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Real Estate Index Fund                          | VANGUARD REAL ESTATE ETF                           | CUSIP: 922908553<br>LEI: N/A                  | Long             |  | RF                | US        |      7052 | NS      | $621140.16    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| COMCAST CORPORATION                                      | COMCAST CORP CLASS A                               | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |      7179 | NS      | $263038.56    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Core US Aggregate Bond ETF                       | ISHARES CORE U S AGGREGATE BOND ETF                | CUSIP: 464287226<br>LEI: N/A                  | Long             |  | RF                | US        |     30886 | NS      | $3035784.94   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| VERIZON COMMUNICATIONS INC.                              | VERIZON COMMUNICATIONS INC                         | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |     17765 | NS      | $692479.70    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| CROWN CASTLE INC.                                        | CROWN CASTLE INC                                   | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Long             | EC               | CORP              | US        |       991 | NS      | $140157.13    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Schwab Fundamental Intl Small Company Index ETF          | SCHWAB FUNDAMENTAL INTERNATIONAL SMALL COMPANY IND | CUSIP: 808524748<br>LEI: N/A                  | Long             |  | RF                | US        |     50100 | NS      | $1592679.00   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| THE MOSAIC COMPANY                                       | THE MOSAIC CO                                      | CUSIP: 61945C103<br>LEI: 2YD5STGSJNMUB7H76907 | Long             | EC               | CORP              | US        |      1801 | NS      | $92391.30     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares JPMorgan USD Emerging Markets Bond ETF           | ISHARES JP MORGAN ETF                              | CUSIP: 464288281<br>LEI: N/A                  | Long             |  | RF                | US        |     14224 | NS      | $1229380.32   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares MSCI Intl Momentum Factor ETF                    | ISHARES MSCI INTERNAL MOM                          | CUSIP: 46434V449<br>LEI: N/A                  | Long             |  | RF                | US        |     71831 | NS      | $2274887.77   | 1.21%             |  |  |  | No            |                  1 | On Loan: —       |
| WHIRLPOOL CORPORATION                                    | WHIRLPOOL CORP                                     | CUSIP: 963320106<br>LEI: WHENKOULSSK7WUM60H03 | Long             | EC               | CORP              | US        |      1649 | NS      | $241627.97    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| DISCOVER FINANCIAL SERVICES                              | DISCOVER FINANCIAL SERVICES                        | CUSIP: 254709108<br>LEI: Z1YLO2USPORE63VVUL20 | Long             | EC               | CORP              | US        |      3048 | NS      | $330281.28    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| THE SOUTHERN COMPANY                                     | SOUTHERN CO                                        | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |      3149 | NS      | $212998.36    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| BEST BUY CO., INC.                                       | BEST BUY CO INC                                    | CUSIP: 086516101<br>LEI: HL5XPTVRV0O8TUN5LL90 | Long             | EC               | CORP              | US        |      3488 | NS      | $297526.40    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| NP SPE II LLC                                            | NP SPE II LLC                                      | CUSIP: 62946AAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     54960 | PA      | $51683.70     | 0.03%             | 2047-10-21      | Fixed         | 3.37%                 | Yes           |                  2 | On Loan: No      |
| EOG RESOURCES, INC.                                      | EOG RESOURCES INC                                  | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |      2946 | NS      | $418125.78    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| ACCENTURE PUBLIC LIMITED COMPANY                         | ACCENTURE PLC                                      | CUSIP: G1151C101<br>LEI: N/A                  | Long             | EC               | CORP              | IE        |      2484 | NS      | $747510.12    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA CORPORATION                                          | KLA CORP                                           | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |      1576 | NS      | $619604.40    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| CF INDUSTRIES HOLDINGS, INC.                             | CF INDUSTRIES HOLDINGS INC                         | CUSIP: 125269100<br>LEI: 529900CG8YAQFZ2JMV97 | Long             | EC               | CORP              | US        |      1988 | NS      | $215081.72    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares 0-5 Year TIPS Bond ETF                           | ISHARES 0 5 YEAR TIPS BOND ETF                     | CUSIP: 46429B747<br>LEI: N/A                  | Long             |  | RF                | US        |     36290 | NS      | $3544807.20   | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| TARGET CORPORATION                                       | TARGET CORP                                        | CUSIP: 87612E106<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | EC               | CORP              | US        |      3204 | NS      | $535292.28    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| EXXON MOBIL CORPORATION                                  | EXXON MOBIL CORP                                   | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |      5393 | NS      | $600456.62    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| ELEVANCE HEALTH, INC.                                    | ELEVANCE HEALTH INC                                | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |       310 | NS      | $165205.20    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| CINTAS CORPORATION                                       | CINTAS CORP                                        | CUSIP: 172908105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       266 | NS      | $122833.48    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Garmin Ltd.                                              | GARMIN LTD                                         | CUSIP: H2906T109<br>LEI: 2549001E0HIPIJQ0W046 | Long             | EC               | CORP              | CH        |       689 | NS      | $64070.11     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| LOCKHEED MARTIN CORPORATION                              | LOCKHEED MARTIN CORP                               | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               | CORP              | US        |       871 | NS      | $422600.49    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| S P TORONTO STOCK EXCHANGE 60 INDEX FUTURE DEC22         | S P TORONTO STOCK EXCHANGE 60 INDEX FUTURE DEC22   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | CA        |        16 | NC      | $95729.71     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| THE INTERPUBLIC GROUP OF COMPANIES, INC.                 | INTERPUBLIC GROUP OF COS INC                       | CUSIP: 460690100<br>LEI: 5493008IUOJ5VWTRC333 | Long             | EC               | CORP              | US        |     17348 | NS      | $596077.28    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| INVESCO GOVERNMENT & AGENCY PORTFOLIO                    | INVESCO GVT & AGNCY-INST                           | CUSIP: 825252885<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   1565018 | NS      | $1565017.56   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                                 | UNITED STATES TREASURY NOTE                        | CUSIP: 912828R28<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3800000 | PA      | $3753687.50   | 2.00%             | 2023-04-30      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| APPLIED MATERIALS, INC.                                  | APPLIED MATERIALS INC                              | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |      2523 | NS      | $276520.80    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| PFIZER INC.                                              | PFIZER INC                                         | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |      4325 | NS      | $216812.25    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| LyondellBasell Industries N.V.                           | LYONDELLBASELL INDUSTRIES NV                       | CUSIP: N53745100<br>LEI: BN6WCCZ8OVP3ITUUVN49 | Long             | EC               | CORP              | NL        |      3867 | NS      | $328733.67    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan BetaBuilders Canada ETF                         | JPMORGAN BETABUILDERS CANADA ETF                   | CUSIP: 46641Q225<br>LEI: N/A                  | Long             |  | RF                | US        |      4851 | NS      | $296929.71    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2022-12-30

**Name of Applicant:** USAA Mutual Funds Trust

**Signature:** James K. De Vries

**Name of Signer:** James K. De Vries

**Title:** Treasurer