# EDGAR Filing Document

**Accession Number:** 0000802716
**File Stem:** 0001752724-23-041037
**Filing Date:** 2023-2
**Character Count:** 18665
**Document Hash:** ff4288fec89221084641bb24a67ea48e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-041037.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001752724-23-041037

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230227

**DATE AS OF CHANGE**: 20230227

**PERIOD START**: 20230630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VICTORY PORTFOLIOS
- **CENTRAL INDEX KEY:** 0000802716
- **IRS NUMBER:** 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:** 23670825

**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 INCORE Investment Grade Convertible Fund (Series ID: S000000786)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000002332 | Class A      | SBFCX           |
| C000052112 | Class I      | VICIX           |
| C000219861 | Member Class | SBFMX           |

## 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:** 4900 Tiedeman Road 4th Floor

  - **City:** Brooklyn

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 44144

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

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

- **a. Name of Series:** Victory INCORE Investment Grade Convertible Fund

- **b. EDGAR series identifier (if any):** S000000786

- **c. LEI of Series:** 549300ZE7EDX9F7SCK90

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

- **a. Date of fiscal year-end:** 2023-06-30

- **b. Date as of which information is reported:** 2022-12-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $470893134.00

**Total Liabilities:** $61877281.43

**Net Assets:** $409015852.57

**Cash Not Reported:** $6611449.19

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** -378.59544266 | **1-Year:** -6956.98353504 | **5-Year:** -5801.12275756 | **10-Year:** -3587.81078245 | **30-Year:** -11157.12317283

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** -71.93398116 | **1-Year:** -4553.95954578 | **5-Year:** -6953.67609621 | **10-Year:** -10148.67387478 | **30-Year:** -23131.10795712

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000002332 | 4.68%                | 2.26%                | -3.41%               |
| Class ID C000219861 | 4.68%                | 2.35%                | -3.45%               |
| Class ID C000052112 | 4.74%                | 2.33%                | -3.46%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-4578392.51             | $24412452.29                               |
| Month 2  | $-2936971.85             | $11427695.02                               |
| Month 3  | $-7302985.46             | $-7937677.01                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| NEXTERA ENERGY, INC.                                      | NEXTERA ENERGY INC PFD             | CUSIP: 65339F770<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    274805 | NS      | $13932613.50  | 3.41%             |  |  |  | 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        |  15367768 | NS      | $15367768.38  | 3.76%             |  |  |  | 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        |  15367768 | NS      | $15367768.38  | 3.76%             |  |  |  | No            |                  1 | On Loan: No      |
| WESTERN DIGITAL CORPORATION                               | WESTERN DIGITAL CORP               | CUSIP: 958102AP0<br>LEI: 549300QQXOOYEF89IC56 | Long             | DBT              | CORP              | US        |  20491000 | PA      | $19556405.49  | 4.78%             | 2024-02-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE FINANCIAL COMPANY LLC                      | JPMORGAN CHASE FINANCIAL           | CUSIP: 48129KAE0<br>LEI: 549300NJFDJOFYVV6789 | Long             | DBT              | CORP              | US        |  11505000 | PA      | $11694142.20  | 2.86%             | 2023-05-01      | Fixed         | 0.25%                 | Yes           |                  2 | On Loan: No      |
| PIONEER NATURAL RESOURCES COMPANY                         | PIONEER NATURAL RESOURCE           | CUSIP: 723787AP2<br>LEI: FY8JBF7CCL2VE4F1B628 | Long             | DBT              | CORP              | US        |  10641000 | PA      | $24836732.46  | 6.07%             | 2025-05-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                         | BARCLAYS BANK PLC                  | CUSIP: 06739GCF4<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | DBT              | RF                | GB        |   4330000 | PA      | $4504325.80   | 1.10%             | 2025-02-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MGIC INVESTMENT CORPORATION                               | MGIC INVESTMENT CORP               | CUSIP: 552848AB9<br>LEI: 254900S8483WM4M98R28 | Long             | DBT              | CORP              | US        |   4717000 | PA      | $6224553.20   | 1.52%             | 2063-04-01      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| EQT CORPORATION                                           | EQT CORP                           | CUSIP: 26884LAK5<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |   5065000 | PA      | $11786204.35  | 2.88%             | 2026-05-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| NEW MOUNTAIN FINANCE CORPORATION                          | NEW MOUNTAIN FINANCE COR           | CUSIP: 647551AD2<br>LEI: 549300L1MPTT1H7SES77 | Long             | DBT              | CORP              | US        |   2520000 | PA      | $2520957.60   | 0.62%             | 2025-10-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| KITE REALTY GROUP, L.P.                                   | KITE REALTY GROUP LP               | CUSIP: 49803XAB9<br>LEI: 549300X6R2GYI8Y3OD81 | Long             | DBT              | CORP              | US        |   9280000 | PA      | $8575555.20   | 2.10%             | 2027-04-01      | Fixed         | 0.75%                 | Yes           |                  2 | On Loan: No      |
| MSILF Government Portfolio                                | MSILF GOVERNMENT-INST              | CUSIP: 61747C707<br>LEI: N/A                  | Long             | STIV             | RF                | US        |  15367768 | NS      | $15367768.36  | 3.76%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTHWEST AIRLINES CO.                                    | SOUTHWEST AIRLINES CO              | CUSIP: 844741BG2<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | DBT              | CORP              | US        |  18255000 | PA      | $22014617.25  | 5.38%             | 2025-05-01      | Fixed         | 1.25%                 | No            |                  2 | On Loan: —       |
| WELLS FARGO & COMPANY                                     | WELLS FARGO CO                     | CUSIP: 949746804<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |     16194 | NS      | $19189890.00  | 4.69%             |  |  |  | No            |                  1 | On Loan: No      |
| VISHAY INTERTECHNOLOGY, INC.                              | VISHAY INTERTECHNOLOGY             | CUSIP: 928298AP3<br>LEI: 5493009O8F3QQJTCQR75 | Long             | DBT              | CORP              | US        |   8030000 | PA      | $7783479.00   | 1.90%             | 2025-06-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORPORATION.                                 | ARES CAPITAL CORP                  | CUSIP: 04010LAW3<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |  17903000 | PA      | $18940120.79  | 4.63%             | 2024-03-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| STANLEY BLACK & DECKER, INC.                              | STANLEY BLACK DECKER INC           | CUSIP: 854502101<br>LEI: 549300DJ09SMTO561131 | Long             | EC               | CORP              | US        |     30628 | NS      | $2300775.36   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| BARCLAYS BANK PLC                                         | BARCLAYS BANK PLC                  | CUSIP: 06738G8A1<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | DBT              | RF                | GB        |   9005000 | PA      | $11650669.00  | 2.85%             | 2025-02-04      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| KKR & CO. INC.                                            | KKR CO INC PFD                     | CUSIP: 48251W401<br>LEI: 54930013V5I303TF9571 | Long             | EP               | CORP              | US        |    333160 | NS      | $19073410.00  | 4.66%             |  |  |  | No            |                  1 | On Loan: No      |
| BRISTOL-MYERS SQUIBB COMPANY                              | BRISTOL MYERS SQUIBB CO            | CUSIP: 110122AN8<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |   2651000 | PA      | $5232411.25   | 1.28%             | 2023-09-15      | Floating      | 4.27%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORPORATION                               | BANK OF AMERICA CORP               | CUSIP: 060505682<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |     16050 | NS      | $18618000.00  | 4.55%             |  |  |  | No            |                  1 | On Loan: No      |
| BLOCK, INC.                                               | BLOCK INC                          | CUSIP: 852234AF0<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |   2050000 | PA      | $1950780.00   | 0.48%             | 2025-03-01      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| AMERICAN ELECTRIC POWER COMPANY, INC.                     | AMERICAN ELECTRIC POWER PFD        | CUSIP: 02557T307<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EP               | CORP              | US        |    274400 | NS      | $14153552.00  | 3.46%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTERA ENERGY, INC.                                      | NEXTERA ENERGY INC PFD             | CUSIP: 65339F739<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    162475 | NS      | $8203362.75   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| FORD MOTOR COMPANY                                        | FORD MOTOR COMPANY                 | CUSIP: 345370CZ1<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |   9785000 | PA      | $9259545.50   | 2.26%             | 2026-03-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE MORTGAGE TRUST, INC.                           | BLACKSTONE MORTGAGE TR             | CUSIP: 09257WAE0<br>LEI: 549300OLDJ20R2Y2UW20 | Long             | DBT              | CORP              | US        |   6105000 | PA      | $5260312.20   | 1.29%             | 2027-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| EXPEDIA GROUP, INC.                                       | EXPEDIA GROUP INC                  | CUSIP: 30212PBE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  18195000 | PA      | $15805632.60  | 3.86%             | 2026-02-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BLOCK, INC.                                               | SQUARE INC                         | CUSIP: 852234AK9<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |   7625000 | PA      | $5773650.00   | 1.41%             | 2027-11-01      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| PARSONS CORPORATION                                       | PARSONS CORP                       | CUSIP: 70202LAB8<br>LEI: 549300ZXH0VRBSEPX752 | Long             | DBT              | CORP              | US        |   6300000 | PA      | $7168833.00   | 1.75%             | 2025-08-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| BOOKING HOLDINGS INC.                                     | BOOKING HOLDINGS INC               | CUSIP: 09857LAN8<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | DBT              | CORP              | US        |  17485000 | PA      | $23434970.65  | 5.73%             | 2025-05-01      | Fixed         | 0.75%                 | No            |                  2 | On Loan: —       |
| NEW YORK COMMUNITY CAPITAL TRUST V                        | NEW YORK COMMUNITY CAPITAL TRUST V | CUSIP: 64944P307<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     53619 | NS      | $2325992.22   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| HANNON ARMSTRONG SUSTAINABLE INFRASTRUCTURE CAPITAL, INC. | HANNON ARMSTRONG SUSTAIN           | CUSIP: 41068XAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2435000 | PA      | $2321455.95   | 0.57%             | 2023-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NISOURCE INC.                                             | NISOURCE INC                       | CUSIP: 65473P121<br>LEI: 549300D8GOWWH0SJB189 | Long             | EP               | CORP              | US        |    156520 | NS      | $16162255.20  | 3.95%             |  |  |  | No            |                  1 | On Loan: No      |
| ILLUMINA, INC.                                            | ILLUMINA INC                       | CUSIP: 452327AK5<br>LEI: SQ95QG8SR5Q56LSNF682 | Long             | DBT              | CORP              | US        |  13573000 | PA      | $13135406.48  | 3.21%             | 2023-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: —       |
| ELEVANCE HEALTH, INC.                                     | ANTHEM INC                         | CUSIP: 94973VBG1<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |   3215000 | PA      | $23519461.10  | 5.75%             | 2042-10-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| AKAMAI TECHNOLOGIES, INC.                                 | AKAMAI TECHNOLOGIES INC            | CUSIP: 00971TAJ0<br>LEI: OC1LZNN2LF5WTJ5RIL89 | Long             | DBT              | CORP              | US        |   5399000 | PA      | $5700642.13   | 1.39%             | 2025-05-01      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| EURONET WORLDWIDE, INC.                                   | EURONET WORLDWIDE INC              | CUSIP: 298736AL3<br>LEI: YG3575C4DSHJPA5KET68 | Long             | DBT              | CORP              | US        |  19937000 | PA      | $18903465.92  | 4.62%             | 2049-03-15      | Fixed         | 0.75%                 | No            |                  2 | On Loan: —       |
| INVESCO GOVERNMENT & AGENCY PORTFOLIO                     | INVESCO GVT & AGNCY-INST           | CUSIP: 825252885<br>LEI: N/A                  | Long             | STIV             | RF                | US        |  15367768 | NS      | $15367768.38  | 3.76%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-30

**Name of Applicant:** Victory Portfolios

**Signature:** Allan Shaer

**Name of Signer:** Allan Shaer

**Title:** Treasurer