# EDGAR Filing Document

**Accession Number:** 0000802716
**File Stem:** 0001004726-25-002232
**Filing Date:** 2025-11
**Character Count:** 20837
**Document Hash:** d1975a9edd4b97d66cfa5ff835c1316b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001004726-25-002232.hdr.sgml**: 20251125

**ACCESSION NUMBER**: 0001004726-25-002232

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251125

**DATE AS OF CHANGE**: 20251125

**PERIOD START**: 20251231

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04852
- **FILM NUMBER:** 251520316

**BUSINESS ADDRESS:**
- **STREET 1:** 4900 TIEDEMAN ROAD
- **CITY:** BROOKLYN
- **STATE:** OH
- **ZIP:** 44144
- **BUSINESS PHONE:** 6144708000

**MAIL ADDRESS:**
- **STREET 1:** 4900 TIEDEMAN ROAD
- **CITY:** BROOKLYN
- **STATE:** OH
- **ZIP:** 44144

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SOCIETY FUNDS
- **DATE OF NAME CHANGE:** 19940906

## Series and Classes Contracts Data

### Victory RS Large Cap Alpha Fund (Series ID: S000053560)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000168329 | Class A      | GPAFX           |
| C000168330 | Class C      | RCOCX           |
| C000168332 | Class Y      | RCEYX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Victory Portfolios

- **b. Investment Company Act file number:** 811-04852

- **c. CIK number of Registrant:** 0000802716

- **d. LEI of Registrant:** 549300V07N3HJP1EW330

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

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

  - **City:** San Antonio

  - **State:** TX

  - **Foreign country:** US

  - **Zip / Postal Code:** 78256

  - **Telephone number:** 800-539-3863

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

- **a. Name of Series:** Victory RS Large Cap Alpha Fund

- **b. EDGAR series identifier (if any):** S000053560

- **c. LEI of Series:** 549300KHCTM3U5X5J271

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**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:** $533140786.85

**Total Liabilities:** $400200.80

**Net Assets:** $532740586.05

**Cash Not Reported:** $20576777.15

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000168330 | -0.91%               | 3.00%                | 2.04%                |
| Class ID C000168329 | -0.84%               | 3.06%                | 2.12%                |
| Class ID C000168332 | -0.81%               | 3.08%                | 2.14%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $382134.33               | $-5102703.43                               |
| Month 2  | $4262041.36              | $11046934.23                               |
| Month 3  | $1631580.95              | $8761449.64                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| PPG INDUSTRIES, INC.                                  | PPG INDUSTRIES INC                 | CUSIP: 693506107<br>LEI: 549300BKPEP01R3V6C59 | Long             | EC               | CORP              | US        |     71780 | NS      | $7544795.80   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Everest Group, Ltd.                                   | EVEREST GROUP LTD                  | CUSIP: G3223R108<br>LEI: 549300N24XF2VV0B3570 | Long             | EC               | CORP              | BM        |     38470 | NS      | $13473348.10  | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |
| GE HEALTHCARE TECHNOLOGIES INC.                       | GE HEALTHCARE TECHNOLOGIES INC     | CUSIP: 36266G107<br>LEI: 549300OI9J7XOWZMUN85 | Long             | EC               | CORP              | US        |     70690 | NS      | $5308819.00   | 1.00%             |  |  |  | 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        |     63810 | NS      | $12821343.30  | 2.41%             |  |  |  | No            |                  1 | On Loan: No      |
| ZEBRA TECHNOLOGIES CORPORATION                        | ZEBRA TECHNOLOGIES CORP            | CUSIP: 989207105<br>LEI: PO0I32GKZ3HZMMDPZZ08 | Long             | EC               | CORP              | US        |     29060 | NS      | $8635469.60   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| CACI INTERNATIONAL INC.                               | CACI INTERNATIONAL INC CLASS A     | CUSIP: 127190304<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | EC               | CORP              | US        |     26340 | NS      | $13137865.20  | 2.47%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN ELECTRIC POWER COMPANY, INC.                 | AMERICAN ELECTRIC POWER CO INC     | CUSIP: 025537101<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EC               | CORP              | US        |     82450 | NS      | $9275625.00   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| ANALOG DEVICES, INC.                                  | ANALOG DEVICES INC                 | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |     33990 | NS      | $8351343.00   | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| ABBVIE INC.                                           | ABBVIE INC                         | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |     38980 | NS      | $9025429.20   | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| CHECK POINT SOFTWARE TECHNOLOGIES LTD.                | CHECK POINT SOFTWARE TECHNOLOGIES  | CUSIP: M22465104<br>LEI: 2549003ZVBH73EPNS513 | Long             | EC               | CORP              | IL        |     25710 | NS      | $5319656.10   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| HONEYWELL INTERNATIONAL INCORPORATION                 | HONEYWELL INTERNATIONAL INC        | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |     50290 | NS      | $10586045.00  | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| KEYCORP                                               | KEYCORP                            | CUSIP: 493267108<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | EC               | CORP              | US        |   1073300 | NS      | $20059977.00  | 3.77%             |  |  |  | No            |                  1 | On Loan: No      |
| TEVA PHARMACEUTICAL INDUSTRIES LIMITED                | TEVA PHARMACEUTICAL INDUSTRIES LTD | CUSIP: 881624209<br>LEI: 549300BAFGM4RC74ZJ94 | Long             |  | CORP              | IL        |    720490 | NS      | $14553898.00  | 2.73%             |  |  |  | No            |                  1 | On Loan: No      |
| MCKESSON CORPORATION                                  | MCKESSON CORP                      | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |     10280 | NS      | $7941711.20   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| EXELON CORPORATION                                    | EXELON CORP                        | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |    287780 | NS      | $12952977.80  | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| EXXON MOBIL CORPORATION                               | EXXON MOBIL CORP                   | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |    119660 | NS      | $13491665.00  | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP INC.                                        | CITIGROUP INC                      | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |    206480 | NS      | $20957720.00  | 3.93%             |  |  |  | No            |                  1 | On Loan: No      |
| TOLL BROTHERS, INC.                                   | TOLL BROTHERS INC                  | CUSIP: 889478103<br>LEI: 529900JB6IS9MSZGVR44 | Long             | EC               | CORP              | US        |     71520 | NS      | $9879772.80   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| RTX CORPORATION                                       | RTX CORP                           | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |     51582 | NS      | $8631216.06   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS HEALTH CORPORATION                                | CVS HEALTH CORP                    | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |    120870 | NS      | $9112389.30   | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| ALPHABET INC.                                         | ALPHABET INC CLASS A               | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     69890 | NS      | $16990259.00  | 3.19%             |  |  |  | No            |                  1 | On Loan: No      |
| KEURIG DR PEPPER INC.                                 | KEURIG DR PEPPER INC               | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |    172890 | NS      | $4410423.90   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| US FOODS HOLDING CORP.                                | US FOODS HOLDING CORP              | CUSIP: 912008109<br>LEI: 549300UGOZSO64CFPR97 | Long             | EC               | CORP              | US        |    124980 | NS      | $9575967.60   | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| UNUM GROUP                                            | UNUM GROUP                         | CUSIP: 91529Y106<br>LEI: 549300E32YFDO6TZ8R31 | Long             | EC               | CORP              | US        |    196060 | NS      | $15249546.80  | 2.86%             |  |  |  | No            |                  1 | On Loan: No      |
| SS&C TECHNOLOGIES HOLDINGS, INC.                      | SSNC TECHNOLOGIES HLDGS INC        | CUSIP: 78467J100<br>LEI: 529900POY8H7NPPNKK71 | Long             | EC               | CORP              | US        |    175480 | NS      | $15575604.80  | 2.92%             |  |  |  | No            |                  1 | On Loan: No      |
| ENTERPRISE PRODUCTS PARTNERS L.P.                     | ENTERPRISE PRODUCTS PARTNERS LP    | CUSIP: 293792107<br>LEI: K4CDIF4M54DJZ6TB4Q48 | Long             |  | CORP              | US        |    372150 | NS      | $11637130.50  | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| JOHNSON & JOHNSON                                     | JOHNSON JOHNSON                    | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     51380 | NS      | $9526879.60   | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| SEALED AIR CORPORATION                                | SEALED AIR CORP                    | CUSIP: 81211K100<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | EC               | CORP              | US        |    223842 | NS      | $7912814.70   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCK & CO., INC.                                     | MERCK CO INC                       | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |     63920 | NS      | $5364805.60   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CBOE GLOBAL MARKETS, INC.                             | CBOE GLOBAL MARKETS INC            | CUSIP: 12503M108<br>LEI: 529900RLNSGA90UPEH54 | Long             | EC               | CORP              | US        |     44280 | NS      | $10859670.00  | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUITY LIFESTYLE PROPERTIES, INC.                     | EQUITY LIFESTYLE PROPERTIES INC    | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               | CORP              | US        |    148730 | NS      | $9027911.00   | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| GENERAL DYNAMICS CORPORATION                          | GENERAL DYNAMICS CORP              | CUSIP: 369550108<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | EC               | CORP              | US        |     21830 | NS      | $7444030.00   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Mondelez International, Inc.                          | MONDELEZ INTERNATIONAL INC         | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |    135590 | NS      | $8470307.30   | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLIED MATERIALS, INC.                               | APPLIED MATERIALS INC              | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |     37310 | NS      | $7638849.40   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| THE CIGNA GROUP                                       | CIGNA GROUP THE                    | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |     52820 | NS      | $15225365.00  | 2.86%             |  |  |  | No            |                  1 | On Loan: No      |
| FAIRFAX FINANCIAL HOLDINGS LIMITED                    | FAIRFAX FINANCIAL HOLDINGS LTD     | CUSIP: 303901102<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | EC               | CORP              | CA        |      9800 | NS      | $17147711.10  | 3.22%             |  |  |  | No            |                  1 | On Loan: No      |
| FEDEX CORPORATION                                     | FEDEX CORP                         | CUSIP: 31428X106<br>LEI: 549300E707U7WNPZN687 | Long             | EC               | CORP              | US        |     36500 | NS      | $8607065.00   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| JOHNSON CONTROLS INTERNATIONAL PUBLIC LIMITED COMPANY | JOHNSON CONTROLS INTERNATIONAL PLC | CUSIP: G51502105<br>LEI: 549300XQ6S1GYKGBL205 | Long             | EC               | CORP              | IE        |     67930 | NS      | $7468903.50   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| VALERO ENERGY CORPORATION                             | VALERO ENERGY CORP                 | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |     49380 | NS      | $8407438.80   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| U.S. BANCORP                                          | US BANCORP                         | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |    105840 | NS      | $5115247.20   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| EATON CORPORATION PUBLIC LIMITED COMPANY              | EATON CORP PLC                     | CUSIP: G29183103<br>LEI: 549300VDIGTMXUNT7H71 | Long             | EC               | CORP              | IE        |     30930 | NS      | $11575552.50  | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO.                                  | JPMORGAN CHASE CO                  | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     46310 | NS      | $14607563.30  | 2.74%             |  |  |  | No            |                  1 | On Loan: No      |
| MATTEL, INC.                                          | MATTEL INC                         | CUSIP: 577081102<br>LEI: 549300VELLG24KHTJ564 | Long             | EC               | CORP              | US        |    501180 | NS      | $8434859.40   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| TAKE-TWO INTERACTIVE SOFTWARE, INC.                   | TAKE TWO INTERACTIVE SOFTWARE      | CUSIP: 874054109<br>LEI: BOMSTHHJK882EWYX3334 | Long             | EC               | CORP              | US        |     25030 | NS      | $6466750.80   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| CORPAY, INC.                                          | CORPAY INC                         | CUSIP: 219948106<br>LEI: 549300DG6RR0NQSFLN74 | Long             | EC               | CORP              | US        |     23640 | NS      | $6809738.40   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| MEDTRONIC PUBLIC LIMITED COMPANY                      | MEDTRONIC PLC                      | CUSIP: G5960L103<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |    123940 | NS      | $11804045.60  | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| SALESFORCE, INC.                                      | SALESFORCE INC                     | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |     34400 | NS      | $8152800.00   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| AMPHENOL CORPORATION                                  | AMPHENOL CORP CLASS A              | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |     36940 | NS      | $4571325.00   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| THE PROCTER & GAMBLE COMPANY                          | PROCTER GAMBLE CO                  | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |     50020 | NS      | $7685573.00   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| LEIDOS HOLDINGS, INC.                                 | LEIDOS HOLDINGS INC                | CUSIP: 525327102<br>LEI: 549300IUTGTP6EJP8124 | Long             | EC               | CORP              | US        |     48430 | NS      | $9151332.80   | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-30

**Name of Applicant:** Victory Portfolios

**Signature:** Carol Trevino

**Name of Signer:** Carol Trevino

**Title:** Treasurer