# EDGAR Filing Document

**Accession Number:** 0000908695
**File Stem:** 0001004726-26-005283
**Filing Date:** 2026-6
**Character Count:** 66268
**Document Hash:** 480e7e902ffb3a3eda44a235818d0f88
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001004726-26-005283.hdr.sgml**: 20260625

**ACCESSION NUMBER**: 0001004726-26-005283

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260430

**FILED AS OF DATE**: 20260625

**DATE AS OF CHANGE**: 20260625

**PERIOD START**: 20260430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VICTORY PORTFOLIOS III
- **CENTRAL INDEX KEY:** 0000908695

**ORGANIZATION NAME:**
- **EIN:** 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:** 261120252

**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 MUTUAL FUNDS TRUST
- **DATE OF NAME CHANGE:** 20060420

**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

### Victory Value Fund (Formerly USAA Value Fund) (Series ID: S000012920)

| Class ID   | Class Name                              | Ticker Symbol   |
|:---|:---|:---|
| C000034890 | Victory Value Fund Shares               | UVALX           |
| C000066845 | Victory Value Fund Institutional Shares | UIVAX           |

## 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 III

- **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:** Victory Value Fund

- **b. EDGAR series identifier (if any):** S000012920

- **c. LEI of Series:** 549300F9D3M2P19RXS81

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

- **a. Date of fiscal year-end:** 2026-04-30

- **b. Date as of which information is reported:** 2026-04-30

**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:** $1434536532.80

**Total Liabilities:** $1106236.97

**Net Assets:** $1433430295.83

**Cash Not Reported:** $19878507.34

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000034890 | 3.08%                | -5.26%               | 5.96%                |
| Class ID C000066845 | 3.08%                | -5.26%               | 5.95%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $31270638.07             | $11694672.51                               |
| Month 2  | $3165925.51              | $-80415411.77                              |
| Month 3  | $569159.65               | $79160948.58                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AT&T INC.                                    | AT T INC                                   | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |    178416 | NS      | $4662010.08   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| ABBVIE INC.                                  | ABBVIE INC                                 | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |     61463 | NS      | $12988361.16  | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| ADOBE INC.                                   | ADOBE INC                                  | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |     24700 | NS      | $6078670.00   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| AIRBNB, INC.                                 | AIRBNB INC CLASS A                         | CUSIP: 009066101<br>LEI: 549300HMUDNO0RY56D37 | Long             | EC               | CORP              | US        |     25402 | NS      | $3565424.72   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLISON TRANSMISSION HOLDINGS, INC.          | ALLISON TRANSMISSION HOLDING INC           | CUSIP: 01973R101<br>LEI: 529900RP7DJ882LI9T83 | Long             | EC               | CORP              | US        |     23624 | NS      | $3173884.40   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| THE ALLSTATE CORPORATION                     | ALLSTATE CORP THE                          | CUSIP: 020002101<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EC               | CORP              | US        |     30335 | NS      | $6590582.10   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| ALPHABET INC.                                | ALPHABET INC CLASS A                       | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    146616 | NS      | $56417836.80  | 3.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Altria Group, Inc.                           | ALTRIA GROUP INC                           | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |    167425 | NS      | $12163426.25  | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| AMAZON.COM, INC.                             | AMAZON COM INC                             | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     62900 | NS      | $16672274.00  | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN ELECTRIC POWER COMPANY, INC.        | AMERICAN ELECTRIC POWER CO INC             | CUSIP: 025537101<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EC               | CORP              | US        |     98300 | NS      | $13477913.00  | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN EXPRESS COMPANY                     | AMERICAN EXPRESS CO                        | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |     15119 | NS      | $4884192.95   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERIPRISE FINANCIAL, INC.                   | AMERIPRISE FINANCIAL INC                   | CUSIP: 03076C106<br>LEI: 6ZLKQF7QB6JAEKQS5388 | Long             | EC               | CORP              | US        |     12303 | NS      | $5841341.37   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| AMETEK, INC.                                 | AMETEK INC                                 | CUSIP: 031100100<br>LEI: 549300WZDEF9KKE40E98 | Long             | EC               | CORP              | US        |     67800 | NS      | $15966900.00  | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| AMPHENOL CORPORATION                         | AMPHENOL CORP CLASS A                      | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |     43200 | NS      | $6362064.00   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| ANALOG DEVICES, INC.                         | ANALOG DEVICES INC                         | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |     39800 | NS      | $16009948.00  | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| ELEVANCE HEALTH, INC.                        | ELEVANCE HEALTH INC                        | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |     14780 | NS      | $5563487.60   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLE INC.                                   | APPLE INC                                  | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     14387 | NS      | $3903912.45   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLIED MATERIALS, INC.                      | APPLIED MATERIALS INC                      | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |     29191 | NS      | $11515557.59  | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLOVIN CORPORATION                         | APPLOVIN CORP                              | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |      8717 | NS      | $3890832.95   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| ARCHER-DANIELS-MIDLAND COMPANY.              | ARCHER DANIELS MIDLAND CO                  | CUSIP: 039483102<br>LEI: 549300LO13MQ9HYSTR83 | Long             | EC               | CORP              | US        |     63470 | NS      | $4731053.80   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| ARISTA NETWORKS, INC.                        | ARISTA NETWORKS INC                        | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |     18361 | NS      | $3171128.31   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| AUTOMATIC DATA PROCESSING, INC.              | AUTOMATIC DATA PROCESSING INC              | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |     20448 | NS      | $4333749.12   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| AVERY DENNISON CORPORATION                   | AVERY DENNISON CORP                        | CUSIP: 053611109<br>LEI: 549300PW7VPFCYKLIV37 | Long             | EC               | CORP              | US        |     21579 | NS      | $3537445.47   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| W. R. BERKLEY CORPORATION                    | WR BERKLEY CORP                            | CUSIP: 084423102<br>LEI: SQOAGCLKBDWNVYV1OV80 | Long             | EC               | CORP              | US        |     33472 | NS      | $2236933.76   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| BERKSHIRE HATHAWAY INC.                      | BERKSHIRE HATHAWAY INC CLASS B             | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |     13787 | NS      | $6529523.20   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| BOOKING HOLDINGS INC.                        | BOOKING HOLDINGS INC                       | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |     41175 | NS      | $6932223.00   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| BRISTOL-MYERS SQUIBB COMPANY                 | BRISTOL MYERS SQUIBB CO                    | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |    160557 | NS      | $9728148.63   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| CBOE GLOBAL MARKETS, INC.                    | CBOE GLOBAL MARKETS INC                    | CUSIP: 12503M108<br>LEI: 529900RLNSGA90UPEH54 | Long             | EC               | CORP              | US        |     52500 | NS      | $15754725.00  | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| CF INDUSTRIES HOLDINGS, INC.                 | CF INDUSTRIES HOLDINGS INC                 | CUSIP: 125269100<br>LEI: 529900CG8YAQFZ2JMV97 | Long             | EC               | CORP              | US        |     31964 | NS      | $3969928.80   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| THE CIGNA GROUP                              | CIGNA GROUP THE                            | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |     79387 | NS      | $23068274.46  | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS HEALTH CORPORATION                       | CVS HEALTH CORP                            | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |    197988 | NS      | $16490420.52  | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| CACI INTERNATIONAL INC.                      | CACI INTERNATIONAL INC CLASS A             | CUSIP: 127190304<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | EC               | CORP              | US        |     18900 | NS      | $9819306.00   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| CARDINAL HEALTH, INC.                        | CARDINAL HEALTH INC                        | CUSIP: 14149Y108<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | EC               | CORP              | US        |     10882 | NS      | $2098920.16   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| CATERPILLAR INC.                             | CATERPILLAR INC                            | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |      9833 | NS      | $8752451.63   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| CENTENE CORPORATION                          | CENTENE CORP                               | CUSIP: 15135B101<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | EC               | CORP              | US        |     42070 | NS      | $2258738.30   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| CHEMED CORPORATION                           | CHEMED CORP                                | CUSIP: 16359R103<br>LEI: 54930020031IDJT2IM79 | Long             | EC               | CORP              | US        |      7584 | NS      | $3223048.32   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| CHIPOTLE MEXICAN GRILL, INC.                 | CHIPOTLE MEXICAN GRILL INC                 | CUSIP: 169656105<br>LEI: 529900REP5VGTPCP1J71 | Long             | EC               | CORP              | US        |     61437 | NS      | $2088243.63   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| CISCO SYSTEMS, INC.                          | CISCO SYSTEMS INC                          | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |     75702 | NS      | $6926733.00   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP INC.                               | CITIGROUP INC                              | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |    155400 | NS      | $19888092.00  | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| COCA-COLA CONSOLIDATED, INC.                 | COCA COLA CONSOLIDATED INC                 | CUSIP: 191098102<br>LEI: 57VG5X0E00X0QJU7CQ58 | Long             | EC               | CORP              | US        |     23810 | NS      | $4882716.70   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION   | COGNIZANT TECHNOLOGY SOLUTIONS CORP        | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |     37504 | NS      | $1983961.60   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| COLGATE-PALMOLIVE COMPANY                    | COLGATE PALMOLIVE CO                       | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |     70709 | NS      | $6035720.24   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| COMCAST CORPORATION                          | COMCAST CORP                               | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |    165263 | NS      | $4468711.52   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| CONSOLIDATED EDISON, INC.                    | CONSOLIDATED EDISON INC                    | CUSIP: 209115104<br>LEI: 54930033SBW53OO8T749 | Long             | EC               | CORP              | US        |     43250 | NS      | $4821942.50   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| CORPAY, INC.                                 | CORPAY INC                                 | CUSIP: 219948106<br>LEI: 549300DG6RR0NQSFLN74 | Long             | EC               | CORP              | US        |     51600 | NS      | $15813852.00  | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| DARDEN RESTAURANTS, INC.                     | DARDEN RESTAURANTS INC                     | CUSIP: 237194105<br>LEI: CY1NFSCCB5GUXC7WZC70 | Long             | EC               | CORP              | US        |     27000 | NS      | $5415120.00   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| DECKERS OUTDOOR CORPORATION                  | DECKERS OUTDOOR CORP                       | CUSIP: 243537107<br>LEI: 5493008LG4W3I6K8J118 | Long             | EC               | CORP              | US        |     48611 | NS      | $4968044.20   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| DELTA AIR LINES, INC.                        | DELTA AIR LINES INC                        | CUSIP: 247361702<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | EC               | CORP              | US        |     55697 | NS      | $3786839.03   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| DEVON ENERGY CORPORATION                     | DEVON ENERGY CORP                          | CUSIP: 25179M103<br>LEI: 54930042348RKR3ZPN35 | Long             | EC               | CORP              | US        |    144909 | NS      | $7443975.33   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| DEXCOM, INC.                                 | DEXCOM INC                                 | CUSIP: 252131107<br>LEI: 549300YSK3QDSFR5EU59 | Long             | EC               | CORP              | US        |     20172 | NS      | $1201242.60   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| THE WALT DISNEY COMPANY                      | WALT DISNEY CO THE                         | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |     47674 | NS      | $4946177.50   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| DOMINO'S PIZZA, INC.                         | DOMINO S PIZZA INC                         | CUSIP: 25754A201<br>LEI: 25490005ZWM1IF9UXU57 | Long             | EC               | CORP              | US        |      5855 | NS      | $1987304.10   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| DOVER CORPORATION                            | DOVER CORP                                 | CUSIP: 260003108<br>LEI: 549300FMC2ALGA7N9E80 | Long             | EC               | CORP              | US        |     52400 | NS      | $11863884.00  | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| DROPBOX, INC.                                | DROPBOX INC                                | CUSIP: 26210C104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    153880 | NS      | $3737745.20   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| DUKE ENERGY CORPORATION                      | DUKE ENERGY CORP                           | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |     61641 | NS      | $7985591.55   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG RESOURCES, INC.                          | EOG RESOURCES INC                          | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |     60502 | NS      | $8504766.14   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| EAST WEST BANCORP, INC.                      | EAST WEST BANCORP INC                      | CUSIP: 27579R104<br>LEI: 254900O4X656YXFOYB11 | Long             | EC               | CORP              | US        |     50822 | NS      | $6427458.34   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| EDISON INTERNATIONAL                         | EDISON INTERNATIONAL                       | CUSIP: 281020107<br>LEI: 549300I7ROF15MAEVP56 | Long             | EC               | CORP              | US        |     92148 | NS      | $6403364.52   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| EMCOR GROUP, INC.                            | EMCOR GROUP INC                            | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               | CORP              | US        |      6623 | NS      | $5905530.41   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| ENTERPRISE PRODUCTS PARTNERS L.P.            | ENTERPRISE PRODUCTS PARTNERS LP            | CUSIP: 293792107<br>LEI: K4CDIF4M54DJZ6TB4Q48 | Long             |  | CORP              | US        |    439124 | NS      | $16994098.80  | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUINIX, INC.                                | EQUINIX INC                                | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |      4439 | NS      | $4806682.37   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUITY LIFESTYLE PROPERTIES, INC.            | EQUITY LIFESTYLE PROPERTIES INC            | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               | CORP              | US        |    184300 | NS      | $11664347.00  | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUITY RESIDENTIAL                           | EQUITY RESIDENTIAL REIT                    | CUSIP: 29476L107<br>LEI: 5493008RACSH5EP3PI59 | Long             | EC               | CORP              | US        |     37111 | NS      | $2426317.18   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| EVERCORE INC.                                | EVERCORE INC                               | CUSIP: 29977A105<br>LEI: 529900P6KLPT95DW3W58 | Long             | EC               | CORP              | US        |     12531 | NS      | $4026084.99   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| EXELON CORPORATION                           | EXELON CORP                                | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |    347300 | NS      | $15972327.00  | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| EXELIXIS, INC.                               | EXELIXIS INC                               | CUSIP: 30161Q104<br>LEI: 254900PJQB59O2O95R37 | Long             | EC               | CORP              | US        |     87860 | NS      | $3906255.60   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| EXPEDIA GROUP, INC.                          | EXPEDIA GROUP INC                          | CUSIP: 30212P303<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     22123 | NS      | $5494689.51   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| EXPEDITORS INTERNATIONAL OF WASHINGTON, INC. | EXPEDITORS INTERNATIONAL OF WASHINGTON INC | CUSIP: 302130109<br>LEI: 984500B055A804AB6E40 | Long             | EC               | CORP              | US        |     32855 | NS      | $4858925.95   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| EXXON MOBIL CORPORATION                      | EXXON MOBIL CORP                           | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |    115000 | NS      | $17747950.00  | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| META PLATFORMS, INC.                         | META PLATFORMS INC                         | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      4550 | NS      | $2784190.50   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| FAIR ISAAC CORPORATION                       | FAIR ISAAC CORP                            | CUSIP: 303250104<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | EC               | CORP              | US        |      2633 | NS      | $2698825.00   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| FAIRFAX FINANCIAL HOLDINGS LIMITED           | FAIRFAX FINANCIAL HOLDINGS LTD             | CUSIP: 303901102<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | EC               | CORP              | CA        |      7200 | NS      | $12461216.32  | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| FEDEX CORPORATION                            | FEDEX CORP                                 | CUSIP: 31428X106<br>LEI: 549300E707U7WNPZN687 | Long             | EC               | CORP              | US        |     63420 | NS      | $25577920.20  | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| FERGUSON ENTERPRISES INC.                    | FERGUSON ENTERPRISES INC                   | CUSIP: 31488V107<br>LEI: 2138003JYQMRP3SLX189 | Long             | EC               | CORP              | US        |      7016 | NS      | $1878253.36   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| FIDELITY NATIONAL FINANCIAL, INC             | FIDELITY NATIONAL FINANCIAL                | CUSIP: 31620R303<br>LEI: 549300CAZYIH39SYQ287 | Long             | EC               | CORP              | US        |     74957 | NS      | $3920251.10   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| FISERV, INC.                                 | FISERV INC                                 | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | EC               | CORP              | US        |     63801 | NS      | $3997132.65   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| FORTINET, INC.                               | FORTINET INC                               | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Long             | EC               | CORP              | US        |     37373 | NS      | $3150917.63   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| GE HEALTHCARE TECHNOLOGIES INC.              | GE HEALTHCARE TECHNOLOGIES INC             | CUSIP: 36266G107<br>LEI: 549300OI9J7XOWZMUN85 | Long             | EC               | CORP              | US        |     82900 | NS      | $5043636.00   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| GENERAL MOTORS COMPANY                       | GENERAL MOTORS CO                          | CUSIP: 37045V100<br>LEI: 54930070NSV60J38I987 | Long             | EC               | CORP              | US        |     48013 | NS      | $3691719.57   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| GILEAD SCIENCES, INC.                        | GILEAD SCIENCES INC                        | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |     69691 | NS      | $9118370.44   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBAL PAYMENTS INC.                         | GLOBAL PAYMENTS INC                        | CUSIP: 37940X102<br>LEI: 549300NOMHGVQBX6S778 | Long             | EC               | CORP              | US        |     46215 | NS      | $3325631.40   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| THE GOLDMAN SACHS GROUP, INC.                | GOLDMAN SACHS GROUP INC THE                | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |      7244 | NS      | $6691789.88   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| HONEYWELL INTERNATIONAL INCORPORATION        | HONEYWELL INTERNATIONAL INC                | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |     70400 | NS      | $15088832.00  | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| HUMANA INC.                                  | HUMANA INC                                 | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |     12123 | NS      | $2866362.12   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| INGREDION INCORPORATED                       | INGREDION INC                              | CUSIP: 457187102<br>LEI: PKSTQ48QDN0XSVS7YK88 | Long             | EC               | CORP              | US        |     34641 | NS      | $3870785.34   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERACTIVE BROKERS GROUP, INC.              | INTERACTIVE BROKERS GROUP INC              | CUSIP: 45841N107<br>LEI: 5493004DT6DCDUZNDM53 | Long             | EC               | CORP              | US        |     47067 | NS      | $3741826.50   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERNATIONAL BUSINESS MACHINES CORPORATION  | INTERNATIONAL BUSINESS MACHINES CORP       | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |     20663 | NS      | $4772739.74   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| INTUIT INC.                                  | INTUIT INC                                 | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |      8075 | NS      | $3137137.50   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO.                         | JPMORGAN CHASE CO                          | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |    111999 | NS      | $35081446.77  | 2.45%             |  |  |  | No            |                  1 | On Loan: No      |
| JABIL INC.                                   | JABIL INC                                  | CUSIP: 466313103<br>LEI: 5493000CGCQY2OQU7669 | Long             | EC               | CORP              | US        |     21092 | NS      | $7118339.08   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| JOHNSON & JOHNSON                            | JOHNSON JOHNSON                            | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |    119380 | NS      | $27439493.00  | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| KEURIG DR PEPPER INC.                        | KEURIG DR PEPPER INC                       | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |    215892 | NS      | $6347224.80   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| KEYCORP                                      | KEYCORP                                    | CUSIP: 493267108<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | EC               | CORP              | US        |    956700 | NS      | $21152637.00  | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| LEIDOS HOLDINGS, INC.                        | LEIDOS HOLDINGS INC                        | CUSIP: 525327102<br>LEI: 549300IUTGTP6EJP8124 | Long             | EC               | CORP              | US        |     76221 | NS      | $11373697.62  | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| LENNAR CORPORATION                           | LENNAR CORP CLASS A                        | CUSIP: 526057104<br>LEI: 529900G61XVRLX5TJX09 | Long             | EC               | CORP              | US        |     37335 | NS      | $3371350.50   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| LINCOLN ELECTRIC HOLDINGS, INC.              | LINCOLN ELECTRIC HOLDINGS INC              | CUSIP: 533900106<br>LEI: BIMGBY40SIN95O01BN93 | Long             | EC               | CORP              | US        |     16942 | NS      | $4489630.00   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| LOCKHEED MARTIN CORPORATION                  | LOCKHEED MARTIN CORP                       | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               | CORP              | US        |     19244 | NS      | $9967814.68   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| LONDON STOCK EXCHANGE GROUP PLC              | LONDON STOCK EXCHANGE GROUP PLC            | CUSIP: 54211Y107<br>LEI: 213800QAUUUP6I445N30 | Long             |  | CORP              | GB        |    508300 | NS      | $16568038.50  | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| LOWE'S COMPANIES, INC.                       | LOWE S COS INC                             | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |     23851 | NS      | $5695380.29   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| MGIC INVESTMENT CORPORATION                  | MGIC INVESTMENT CORP                       | CUSIP: 552848103<br>LEI: 254900S8483WM4M98R28 | Long             | EC               | CORP              | US        |    117403 | NS      | $3108831.44   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| MANHATTAN ASSOCIATES, INC.                   | MANHATTAN ASSOCIATES INC                   | CUSIP: 562750109<br>LEI: 529900Q1GJP7KD52SW51 | Long             | EC               | CORP              | US        |     15291 | NS      | $2108475.99   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| MARATHON PETROLEUM CORPORATION               | MARATHON PETROLEUM CORP                    | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |     31243 | NS      | $7757324.47   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| MARKETAXESS HOLDINGS INC.                    | MARKETAXESS HOLDINGS INC                   | CUSIP: 57060D108<br>LEI: 5493002U1CA1XJOVID83 | Long             | EC               | CORP              | US        |     52600 | NS      | $8268194.00   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| MASCO CORPORATION                            | MASCO CORP                                 | CUSIP: 574599106<br>LEI: 5GCSNMQXHEYA1JO8QN11 | Long             | EC               | CORP              | US        |     78595 | NS      | $5644692.90   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| MATCH GROUP, INC.                            | MATCH GROUP INC                            | CUSIP: 57667L107<br>LEI: 15OMOPB0A8K0EFUVD031 | Long             | EC               | CORP              | US        |     78380 | NS      | $2932979.60   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| MATTEL, INC.                                 | MATTEL INC                                 | CUSIP: 577081102<br>LEI: 549300VELLG24KHTJ564 | Long             | EC               | CORP              | US        |    604200 | NS      | $9111336.00   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| MCKESSON CORPORATION                         | MCKESSON CORP                              | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |      4736 | NS      | $3860787.20   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| MEDPACE HOLDINGS, INC.                       | MEDPACE HOLDINGS INC                       | CUSIP: 58506Q109<br>LEI: 549300H8TYEUVTW14A54 | Long             | EC               | CORP              | US        |      6814 | NS      | $2852749.24   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCK & CO., INC.                            | MERCK CO INC                               | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |     93606 | NS      | $10219903.08  | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| METTLER-TOLEDO INTERNATIONAL INC.            | METTLER TOLEDO INTERNATIONAL               | CUSIP: 592688105<br>LEI: 5493000BD5GJNUDIUG10 | Long             | EC               | CORP              | US        |      1819 | NS      | $2322153.59   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| MICRON TECHNOLOGY, INC.                      | MICRON TECHNOLOGY INC                      | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |     19205 | NS      | $9932057.80   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Mondelez International, Inc.                 | MONDELEZ INTERNATIONAL INC                 | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |    158900 | NS      | $9762816.00   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY                               | MORGAN STANLEY                             | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |     17349 | NS      | $3306545.91   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| NRG ENERGY, INC.                             | NRG ENERGY INC                             | CUSIP: 629377508<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | EC               | CORP              | US        |     22523 | NS      | $3504128.34   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| NATIONAL FUEL GAS COMPANY                    | NATIONAL FUEL GAS CO                       | CUSIP: 636180101<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | EC               | CORP              | US        |     46838 | NS      | $3952190.44   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| NETAPP, INC.                                 | NETAPP INC                                 | CUSIP: 64110D104<br>LEI: QTX3D84DZDD5JYOCYH15 | Long             | EC               | CORP              | US        |     59969 | NS      | $6642766.13   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| NETFLIX, INC.                                | NETFLIX INC                                | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |     49748 | NS      | $4656910.28   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| NEWMONT CORPORATION                          | NEWMONT CORP                               | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |    121718 | NS      | $13521652.62  | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| GEN DIGITAL INC.                             | GEN DIGITAL INC                            | CUSIP: 668771108<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | EC               | CORP              | US        |    134240 | NS      | $2589489.60   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA CORPORATION                           | NVIDIA CORP                                | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     13117 | NS      | $2617759.69   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| OMNICOM GROUP INC.                           | OMNICOM GROUP INC                          | CUSIP: 681919106<br>LEI: HKUPACFHSSASQK8HLS17 | Long             | EC               | CORP              | US        |     63345 | NS      | $4859828.40   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| OTIS WORLDWIDE CORPORATION                   | OTIS WORLDWIDE CORP                        | CUSIP: 68902V107<br>LEI: 549300ZLBKR8VSU25153 | Long             | EC               | CORP              | US        |     64936 | NS      | $5057215.68   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| OWENS CORNING                                | OWENS CORNING INC                          | CUSIP: 690742101<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | EC               | CORP              | US        |     30685 | NS      | $3784687.90   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| THE PNC FINANCIAL SERVICES GROUP, INC.       | PNC FINANCIAL SERVICES GROUP INC           | CUSIP: 693475105<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EC               | CORP              | US        |     15640 | NS      | $3487720.00   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| PPG INDUSTRIES, INC.                         | PPG INDUSTRIES INC                         | CUSIP: 693506107<br>LEI: 549300BKPEP01R3V6C59 | Long             | EC               | CORP              | US        |    118200 | NS      | $12824700.00  | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| PACCAR INC                                   | PACCAR INC                                 | CUSIP: 693718108<br>LEI: KDTEY8BWE486IKZ3CC07 | Long             | EC               | CORP              | US        |     50647 | NS      | $6016863.60   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| PAYPAL HOLDINGS, INC.                        | PAYPAL HOLDINGS INC                        | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |    115642 | NS      | $5798289.88   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Pepsico, Inc.                                | PEPSICO INC                                | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |     24264 | NS      | $3845601.36   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| PFIZER INC.                                  | PFIZER INC                                 | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |    188451 | NS      | $5031641.70   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| PRINCIPAL FINANCIAL GROUP, INC.              | PRINCIPAL FINANCIAL GROUP INC              | CUSIP: 74251V102<br>LEI: CUMYEZJOAF02RYZ1JJ85 | Long             | EC               | CORP              | US        |     55815 | NS      | $5632291.65   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| THE PROCTER & GAMBLE COMPANY                 | PROCTER GAMBLE CO                          | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |    113343 | NS      | $16671621.87  | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| THE PROGRESSIVE CORPORATION                  | PROGRESSIVE CORP                           | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |     58089 | NS      | $11692153.92  | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| PROLOGIS, INC.                               | PROLOGIS INC                               | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |     26245 | NS      | $3727314.90   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLIC STORAGE.                              | PUBLIC STORAGE                             | CUSIP: 74460D109<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EC               | CORP              | US        |      7756 | NS      | $2345802.20   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| PULTEGROUP, INC.                             | PULTEGROUP INC                             | CUSIP: 745867101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     45375 | NS      | $5552085.00   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM INCORPORATED                        | QUALCOMM INC                               | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |     55105 | NS      | $9895755.90   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| RTX CORPORATION                              | RTX CORP                                   | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |     61767 | NS      | $10875315.69  | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| REGENERON PHARMACEUTICALS, INC.              | REGENERON PHARMACEUTICALS INC              | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |     18839 | NS      | $13320303.34  | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| REGIONS FINANCIAL CORPORATION                | REGIONS FINANCIAL CORP                     | CUSIP: 7591EP100<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EC               | CORP              | US        |    150569 | NS      | $4298744.95   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| RELIANCE, INC.                               | RELIANCE INC                               | CUSIP: 759509102<br>LEI: 549300E287ZOFT3C5Z56 | Long             | EC               | CORP              | US        |     11241 | NS      | $4074862.50   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| ROCKET COMPANIES, INC.                       | ROCKET COS INC                             | CUSIP: 77311W101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    528700 | NS      | $7729594.00   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| SEI INVESTMENTS COMPANY                      | SEI INVESTMENTS CO                         | CUSIP: 784117103<br>LEI: 5LJTIFADGZ6XH1RVOC11 | Long             | EC               | CORP              | US        |     49898 | NS      | $4524750.64   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| SS&C TECHNOLOGIES HOLDINGS, INC.             | SSNC TECHNOLOGIES HLDGS INC                | CUSIP: 78467J100<br>LEI: 529900POY8H7NPPNKK71 | Long             | EC               | CORP              | US        |    137500 | NS      | $9528750.00   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| SALESFORCE, INC.                             | SALESFORCE INC                             | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |     28609 | NS      | $5050346.77   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| SIMON PROPERTY GROUP, INC.                   | SIMON PROPERTY GROUP INC                   | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |     14198 | NS      | $2892274.58   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| A. O. SMITH CORPORATION                      | AO SMITH CORP                              | CUSIP: 831865209<br>LEI: 549300XG4US7UJNECY36 | Long             | EC               | CORP              | US        |     51547 | NS      | $3187666.48   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| STEEL DYNAMICS, INC.                         | STEEL DYNAMICS INC                         | CUSIP: 858119100<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | EC               | CORP              | US        |     32981 | NS      | $7541435.46   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| SYNCHRONY FINANCIAL                          | SYNCHRONY FINANCIAL                        | CUSIP: 87165B103<br>LEI: 549300RS7EWPM9MA6C78 | Long             | EC               | CORP              | US        |     88050 | NS      | $6709410.00   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| SYSCO CORPORATION                            | SYSCO CORP                                 | CUSIP: 871829107<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | EC               | CORP              | US        |     70125 | NS      | $5239038.75   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| T-MOBILE US, INC.                            | T MOBILE US INC                            | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |     19782 | NS      | $3867381.00   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| TALEN ENERGY CORP                            | TALEN ENERGY CORP                          | CUSIP: 87422Q109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10954 | NS      | $4079488.68   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| TENET HEALTHCARE CORPORATION                 | TENET HEALTHCARE CORP                      | CUSIP: 88033G407<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | EC               | CORP              | US        |     20657 | NS      | $3658767.84   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| TEVA PHARMACEUTICAL INDUSTRIES LIMITED       | TEVA PHARMACEUTICAL INDUSTRIES LTD         | CUSIP: 881624209<br>LEI: 549300BAFGM4RC74ZJ94 | Long             |  | CORP              | IL        |    687900 | NS      | $24124653.00  | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| TEXTRON INC.                                 | TEXTRON INC                                | CUSIP: 883203101<br>LEI: 3PPKBHUG1HD6BO7RNR87 | Long             | EC               | CORP              | US        |     30830 | NS      | $2958446.80   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| TOLL BROTHERS, INC.                          | TOLL BROTHERS INC                          | CUSIP: 889478103<br>LEI: 529900JB6IS9MSZGVR44 | Long             | EC               | CORP              | US        |     60700 | NS      | $8627898.00   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| U.S. BANCORP                                 | US BANCORP                                 | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |    321319 | NS      | $18205934.54  | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| ULTA BEAUTY, INC.                            | ULTA BEAUTY INC                            | CUSIP: 90384S303<br>LEI: 529900CIV6HN8M28YM82 | Long             | EC               | CORP              | US        |      8962 | NS      | $4816895.76   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| UNION PACIFIC CORPORATION                    | UNION PACIFIC CORP                         | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |     65000 | NS      | $17516200.00  | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED AIRLINES HOLDINGS, INC.               | UNITED AIRLINES HOLDINGS INC               | CUSIP: 910047109<br>LEI: 98450079DA0B78DD6764 | Long             | EC               | CORP              | US        |     33615 | NS      | $3025350.00   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED PARCEL SERVICE, INC.                  | UNITED PARCEL SERVICE INC                  | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |     29251 | NS      | $3182508.80   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| US FOODS HOLDING CORP.                       | US FOODS HOLDING CORP                      | CUSIP: 912008109<br>LEI: 549300UGOZSO64CFPR97 | Long             | EC               | CORP              | US        |    117000 | NS      | $10938330.00  | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITEDHEALTH GROUP INCORPORATED              | UNITEDHEALTH GROUP INC                     | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |     23581 | NS      | $8736288.88   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| UNUM GROUP                                   | UNUM GROUP                                 | CUSIP: 91529Y106<br>LEI: 549300E32YFDO6TZ8R31 | Long             | EC               | CORP              | US        |    125900 | NS      | $10119842.00  | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| VALERO ENERGY CORPORATION                    | VALERO ENERGY CORP                         | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |     80336 | NS      | $20291266.88  | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| VENTAS, INC.                                 | VENTAS INC                                 | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               | CORP              | US        |     30328 | NS      | $2664618.08   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| VERIZON COMMUNICATIONS INC.                  | VERIZON COMMUNICATIONS INC                 | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |    147982 | NS      | $7107575.46   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| VERISK ANALYTICS, INC.                       | VERISK ANALYTICS INC                       | CUSIP: 92345Y106<br>LEI: 549300I1YSWNIRKBWP67 | Long             | EC               | CORP              | US        |     20683 | NS      | $3815806.67   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| VOYA FINANCIAL, INC.                         | VOYA FINANCIAL INC                         | CUSIP: 929089100<br>LEI: 549300T065Z4KJ686G75 | Long             | EC               | CORP              | US        |     42785 | NS      | $3506658.60   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| WALMART INC.                                 | WALMART INC                                | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |     62742 | NS      | $8277552.06   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLTOWER INC.                               | WELLTOWER INC                              | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               | CORP              | US        |     24191 | NS      | $5257671.94   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| ZEBRA TECHNOLOGIES CORPORATION               | ZEBRA TECHNOLOGIES CORP                    | CUSIP: 989207105<br>LEI: PO0I32GKZ3HZMMDPZZ08 | Long             | EC               | CORP              | US        |     54000 | NS      | $12218040.00  | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| ZIONS BANCORPORATION, NATIONAL ASSOCIATION   | ZIONS BANCORPORATION                       | CUSIP: 989701107<br>LEI: 8WH0EE09O9V05QJZ3V89 | Long             | EC               | CORP              | US        |     65616 | NS      | $4161366.72   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| ZOOM COMMUNICATIONS, INC.                    | ZOOM COMMUNICATIONS INC                    | CUSIP: 98980L101<br>LEI: 549300T9GCHU0ODOM055 | Long             | EC               | CORP              | US        |     34870 | NS      | $3387620.50   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Amdocs Limited                               | AMDOCS LTD                                 | CUSIP: G02602103<br>LEI: 549300HQV672RJ7RQV66 | Long             | EC               | CORP              | GG        |     57226 | NS      | $3700805.42   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| ANGLOGOLD ASHANTI PLC                        | ANGLOGOLD ASHANTI PLC                      | CUSIP: G0378L100<br>LEI: 2138005YDSA7A82RNU96 | Long             | EC               | CORP              | GB        |     46279 | NS      | $4337730.67   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| ACCENTURE PUBLIC LIMITED COMPANY             | ACCENTURE PLC                              | CUSIP: G1151C101<br>LEI: 5493000EWHDSR3MZWH98 | Long             | EC               | CORP              | IE        |     41927 | NS      | $7492774.17   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| EATON CORPORATION PUBLIC LIMITED COMPANY     | EATON CORP PLC                             | CUSIP: G29183103<br>LEI: 549300VDIGTMXUNT7H71 | Long             | EC               | CORP              | IE        |     36200 | NS      | $15674962.00  | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Everest Group, Ltd.                          | EVEREST GROUP LTD                          | CUSIP: G3223R108<br>LEI: 549300N24XF2VV0B3570 | Long             | EC               | CORP              | BM        |     12014 | NS      | $4286114.64   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| APTIV PLC                                    | APTIV HOLDINGS LTD                         | CUSIP: G3265R107<br>LEI: N/A                  | Long             | EC               | CORP              | JE        |     51968 | NS      | $3131591.68   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| GENPACT LIMITED                              | GENPACT LTD                                | CUSIP: G3922B107<br>LEI: 529900OSEC6Q0L4L5B35 | Long             | EC               | CORP              | BM        |     72605 | NS      | $2523023.75   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| MEDTRONIC PUBLIC LIMITED COMPANY             | MEDTRONIC PLC                              | CUSIP: G5960L103<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |    145200 | NS      | $11756844.00  | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| ROYALTY PHARMA PLC                           | ROYALTY PHARMA PLC                         | CUSIP: G7709Q104<br>LEI: 549300FGFN7VOK8BZR03 | Long             | EC               | CORP              | GB        |     83927 | NS      | $4203903.43   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| TECHNIPFMC PLC                               | TECHNIPFMC PLC                             | CUSIP: G87110105<br>LEI: 549300D5I93QWCJTCK36 | Long             | EC               | CORP              | GB        |     75841 | NS      | $5731304.37   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| SPOTIFY TECHNOLOGY S.A.                      | SPOTIFY TECHNOLOGY SA                      | CUSIP: L8681T102<br>LEI: 549300B4X0JHWV0DTD60 | Long             | EC               | CORP              | LU        |      5119 | NS      | $2285889.45   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| CHECK POINT SOFTWARE TECHNOLOGIES LTD.       | CHECK POINT SOFTWARE TECHNOLOGIES          | CUSIP: M22465104<br>LEI: 2549003ZVBH73EPNS513 | Long             | EC               | CORP              | IL        |     48900 | NS      | $5499783.00   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-06-01

**Name of Applicant:** Victory Portfolios III

**Signature:** Carol D. Trevino

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

**Title:** Treasurer