# EDGAR Filing Document

**Accession Number:** 0000802716
**File Stem:** 0001752724-23-041014
**Filing Date:** 2023-2
**Character Count:** 46220
**Document Hash:** 72986f5074349053d97d3335c6c839f1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-041014.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001752724-23-041014

**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:** 23670799

**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 Integrity Discovery Fund (Series ID: S000046401)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000145004 | Class A      | MMEAX           |
| C000145005 | Class C      | MMECX           |
| C000145006 | Class R      | MMERX           |
| C000145007 | Class Y      | MMEYX           |
| C000219865 | Member Class | MMMMX           |

## 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 Integrity Discovery Fund

- **b. EDGAR series identifier (if any):** S000046401

- **c. LEI of Series:** 549300EIYA36GFL6E746

**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:** $64718019.96

**Total Liabilities:** $470393.70

**Net Assets:** $64247626.26

**Cash Not Reported:** $1901505.88

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000145004 | 12.03%               | 3.12%                | -5.69%               |
| Class ID C000219865 | 12.01%               | 3.14%                | -5.68%               |
| Class ID C000145006 | 12.00%               | 3.09%                | -5.74%               |
| Class ID C000145005 | 11.93%               | 3.06%                | -5.78%               |
| Class ID C000145007 | 12.05%               | 3.14%                | -5.67%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $79871.11                | $7284147.07                                |
| Month 2  | $760120.81               | $1239384.05                                |
| Month 3  | $-465359.17              | $-3502852.08                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| GREEN BRICK PARTNERS, INC.                     | GREEN BRICK PARTNERS INC            | CUSIP: 392709101<br>LEI: 549300R7SCIV7FQI6T56 | Long             | EC               | CORP              | US        |     17500 | NS      | $424025.00    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| PDF SOLUTIONS, INC.                            | PDF SOLUTIONS INC                   | CUSIP: 693282105<br>LEI: 549300GMSP6MROFBI160 | Long             | EC               | CORP              | US        |     24400 | NS      | $695888.00    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| QCR HOLDINGS, INC.                             | QCR HOLDINGS INC                    | CUSIP: 74727A104<br>LEI: 549300MWKWM7KWJVQO33 | Long             | EC               | CORP              | US        |     13300 | NS      | $660212.00    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| LINDBLAD EXPEDITIONS HOLDINGS, INC.            | LINDBLAD EXPEDITIONS HOLDINGS INC   | CUSIP: 535219109<br>LEI: 549300GSPW24GZE6R597 | Long             | EC               | CORP              | US        |     44700 | NS      | $344190.00    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST FOUNDATION INC.                          | FIRST FOUNDATION INC                | CUSIP: 32026V104<br>LEI: 254900TQZQ6LBCK77E82 | Long             | EC               | CORP              | US        |     36500 | NS      | $523045.00    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| COMTECH TELECOMMUNICATIONS CORP.               | COMTECH TELECOMMUNICATIONS CORP     | CUSIP: 205826209<br>LEI: 529900FTEZ8MGM0Y8F73 | Long             | EC               | CORP              | US        |     60157 | NS      | $730305.98    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| HERITAGE-CRYSTAL CLEAN, INC.                   | HERITAGE CRYSTAL CLEAN INC          | CUSIP: 42726M106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20200 | NS      | $656096.00    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| PEOPLES BANCORP INC.                           | PEOPLES BANCORP INC                 | CUSIP: 709789101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     22900 | NS      | $646925.00    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| KIMBALL ELECTRONICS, INC.                      | KIMBALL ELECTRONICS INC             | CUSIP: 49428J109<br>LEI: 549300COBYN2GZCBIU87 | Long             | EC               | CORP              | US        |     31500 | NS      | $711585.00    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| RADNET, INC.                                   | RADNET INC                          | CUSIP: 750491102<br>LEI: 529900RECG94V2IZJ970 | Long             | EC               | CORP              | US        |     36100 | NS      | $679763.00    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| PARK AEROSPACE CORP.                           | PARK AEROSPACE CORP                 | CUSIP: 70014A104<br>LEI: 5299004AG0G7IB636095 | Long             | EC               | CORP              | US        |     40800 | NS      | $547128.00    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERFACE, INC.                                | INTERFACE INC                       | CUSIP: 458665304<br>LEI: 549300VXZWQOIDFPU355 | Long             | EC               | CORP              | US        |     44800 | NS      | $442176.00    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| ADVANSIX INC.                                  | ADVANSIX INC                        | CUSIP: 00773T101<br>LEI: 5493009TPRODMCAZLF67 | Long             | EC               | CORP              | US        |     17650 | NS      | $671053.00    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| THE CHILDREN'S PLACE, INC.                     | CHILDREN S PLACE INC THE            | CUSIP: 168905107<br>LEI: 549300BGVK2OO5O7TC19 | Long             | EC               | CORP              | US        |      6700 | NS      | $244014.00    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| HARBORONE BANCORP, INC.                        | HARBORONE BANCORP INC               | CUSIP: 41165Y100<br>LEI: 549300CNOEY2QUB7F917 | Long             | EC               | CORP              | US        |     45500 | NS      | $632450.00    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| TIDEWATER INC.                                 | TIDEWATER INC                       | CUSIP: 88642R109<br>LEI: 2549000JA5GRUPLMUH98 | Long             | EC               | CORP              | US        |     15300 | NS      | $563805.00    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| THE FIRST BANCSHARES, INC.                     | FIRST BANCSHARES INC THE            | CUSIP: 318916103<br>LEI: 5493006DL5RXJODMAF36 | Long             | EC               | CORP              | US        |     23700 | NS      | $758637.00    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| BUSINESS FIRST BANCSHARES, INC.                | BUSINESS FIRST BANCSHARES INC       | CUSIP: 12326C105<br>LEI: 549300ILTC50KHDX4A08 | Long             | EC               | CORP              | US        |     28000 | NS      | $619920.00    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| GENESCO INC.                                   | GENESCO INC                         | CUSIP: 371532102<br>LEI: 549300VY2Q511P1K5P56 | Long             | EC               | CORP              | US        |     12400 | NS      | $570648.00    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Collegium Pharmaceutical, Inc.                 | COLLEGIUM PHARMACEUTICAL INC        | CUSIP: 19459J104<br>LEI: 54930049FXZMTLW8D496 | Long             | EC               | CORP              | US        |     31380 | NS      | $728016.00    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| PREMIER FINANCIAL CORP.                        | PREMIER FINANCIAL CORP              | CUSIP: 74052F108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     28150 | NS      | $759205.50    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| URSTADT BIDDLE PROPERTIES INC.                 | URSTADT BIDDLE PROPERTIES CLASS A   | CUSIP: 917286205<br>LEI: 549300XXD0YL0AER3Z82 | Long             | EC               | CORP              | US        |     27500 | NS      | $521125.00    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST INTERNET BANCORP                         | FIRST INTERNET BANCORP              | CUSIP: 320557101<br>LEI: 549300T25MP2M92XU194 | Long             | EC               | CORP              | US        |     19700 | NS      | $478316.00    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| HOMESTREET, INC.                               | HOMESTREET INC                      | CUSIP: 43785V102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18200 | NS      | $501956.00    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCANTILE BANK CORPORATION                    | MERCANTILE BANK CORPORATION         | CUSIP: 587376104<br>LEI: P16VZZCKTJ5IONL6XE37 | Long             | EC               | CORP              | US        |     17700 | NS      | $592596.00    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| IMPINJ, INC.                                   | IMPINJ INC                          | CUSIP: 453204109<br>LEI: 549300M26VGKSMMWWN17 | Long             | EC               | CORP              | US        |      2855 | NS      | $311708.90    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| CENTRAL PACIFIC FINANCIAL CORP.                | CENTRAL PACIFIC FINANCIAL CORP      | CUSIP: 154760409<br>LEI: 549300W3YEAOZ4KGG849 | Long             | EC               | CORP              | US        |     16900 | NS      | $342732.00    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| INFINERA CORPORATION                           | INFINERA CORP                       | CUSIP: 45667G103<br>LEI: 549300ZOF66WPV3H0H17 | Long             | EC               | CORP              | US        |     79330 | NS      | $534684.20    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| HERITAGE COMMERCE CORP                         | HERTIAGE COMMERCE CORP              | CUSIP: 426927109<br>LEI: 549300CLIS851ELSR406 | Long             | EC               | CORP              | US        |     43200 | NS      | $561600.00    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| CLEARWATER PAPER CORPORATION                   | CLEARWATER PAPER CORP               | CUSIP: 18538R103<br>LEI: 549300HCVV19GXN4P292 | Long             | EC               | CORP              | US        |     15500 | NS      | $586055.00    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| TITAN MACHINERY INC.                           | TITAN MACHINERY INC                 | CUSIP: 88830R101<br>LEI: 549300835ZM8G0BT5C94 | Long             | EC               | CORP              | US        |     16500 | NS      | $655545.00    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| HAWAIIAN HOLDINGS, INC.                        | HAWAIIAN HOLDINGS INC               | CUSIP: 419879101<br>LEI: 529900TQUS2JVPSSPP86 | Long             | EC               | CORP              | US        |     30250 | NS      | $310365.00    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| PARK-OHIO HOLDINGS CORP.                       | PARK OHIO HOLDINGS CORP             | CUSIP: 700666100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20100 | NS      | $245823.00    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| PLYMOUTH INDUSTRIAL REIT, INC.                 | PLYMOUTH INDUSTRIAL REIT INC        | CUSIP: 729640102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     33500 | NS      | $642530.00    | 1.00%             |  |  |  | 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        |     79362 | NS      | $79362.50     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBAL MEDICAL REIT INC.                       | GLOBAL MEDICAL REIT INC             | CUSIP: 37954A204<br>LEI: 549300HFRIPQDYU3GU60 | Long             | EC               | CORP              | US        |     63500 | NS      | $601980.00    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Univest Financial Corporation                  | UNIVEST FINANCIAL CORP              | CUSIP: 915271100<br>LEI: 4WII2HCR8UEWNU03U507 | Long             | EC               | CORP              | US        |     25500 | NS      | $666315.00    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| FINANCIAL INSTITUTIONS, INC.                   | FINANCIAL INSTITUTIONS INC          | CUSIP: 317585404<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23100 | NS      | $562716.00    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| CIRCOR INTERNATIONAL, INC.                     | CIRCOR INTERNATIONAL INC            | CUSIP: 17273K109<br>LEI: 5493007701O01N3FQM69 | Long             | EC               | CORP              | US        |     25300 | NS      | $606188.00    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| ZIMVIE INC.                                    | ZIMVIE INC W I                      | CUSIP: 98888T107<br>LEI: 549300GFKURT1J6XR665 | Long             | EC               | CORP              | US        |     31000 | NS      | $289540.00    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| MALIBU BOATS, INC.                             | MALIBU BOATS INC                    | CUSIP: 56117J100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6000 | NS      | $319800.00    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| HOMETRUST BANCSHARES, INC.                     | HOMETRUST BANCSHARES INC            | CUSIP: 437872104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20600 | NS      | $497902.00    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| COMMUNITY HEALTH SYSTEMS, INC.                 | COMMUNITY HEALTH SYSTEMS INC        | CUSIP: 203668108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    118000 | NS      | $509760.00    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| SmartFinancial, Inc.                           | SMARTFINANCIAL INC                  | CUSIP: 83190L208<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11100 | NS      | $305250.00    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| EZCORP, INC.                                   | EZCORP INC                          | CUSIP: 302301106<br>LEI: 5493003K6PG3ZQ7TUQ63 | Long             | EC               | CORP              | US        |     82000 | NS      | $668300.00    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| HARMONIC INC.                                  | HARMONIC INC                        | CUSIP: 413160102<br>LEI: 549300LRGRD8XC9BTL66 | Long             | EC               | CORP              | US        |     52000 | NS      | $681200.00    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| NN, INC.                                       | NN INC                              | CUSIP: 629337106<br>LEI: 549300SU3TUM6VH84645 | Long             | EC               | CORP              | US        |     84000 | NS      | $126000.00    | 0.20%             |  |  |  | No            |                  1 | On Loan: —       |
| SHOE CARNIVAL, INC.                            | SHOE CARNIVAL INC                   | CUSIP: 824889109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19100 | NS      | $456681.00    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| POTBELLY CORPORATION                           | POTBELLY CORP                       | CUSIP: 73754Y100<br>LEI: 54930027NUULUR2P5W11 | Long             | EC               | CORP              | US        |     65500 | NS      | $364835.00    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| TALOS ENERGY INC.                              | TALOS ENERGY INC                    | CUSIP: 87484T108<br>LEI: 549300OKFHZ84SFJFT95 | Long             | EC               | CORP              | US        |     31900 | NS      | $602272.00    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Solaris Oilfield Infrastructure Inc            | SOLARIS OILFIELD INFRAST A          | CUSIP: 83418M103<br>LEI: 529900MTK3C8Y8TIIC10 | Long             | EC               | CORP              | US        |     44500 | NS      | $441885.00    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| THE MARCUS CORPORATION                         | MARCUS CORP                         | CUSIP: 566330106<br>LEI: 549300NL0OKPNEMP6B79 | Long             | EC               | CORP              | US        |     42400 | NS      | $610136.00    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| BJ'S RESTAURANTS, INC.                         | BJ S RESTAURANTS INC                | CUSIP: 09180C106<br>LEI: 5299000EOW66I1OJNQ23 | Long             | EC               | CORP              | US        |     16700 | NS      | $440546.00    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| HAYNES INTERNATIONAL, INC.                     | HAYNES INTERNATIONAL INC            | CUSIP: 420877201<br>LEI: 549300I9MS5UZLRFDO40 | Long             | EC               | CORP              | US        |      8370 | NS      | $382425.30    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| DUCOMMUN INCORPORATED                          | DUCOMMON INC                        | CUSIP: 264147109<br>LEI: 549300Z71HMWF90S2214 | Long             | EC               | CORP              | US        |     13100 | NS      | $654476.00    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| GREAT LAKES DREDGE & DOCK CORPORATION          | GREAT LAKES DREDGE DOCK CORPORATION | CUSIP: 390607109<br>LEI: 549300H65E3MZ1CX0P05 | Long             | EC               | CORP              | US        |     61900 | NS      | $368305.00    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Koppers Holdings Inc.                          | KOPPERS HOLDINGS INC                | CUSIP: 50060P106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21200 | NS      | $597840.00    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| ZUMIEZ INC.                                    | ZUMIEZ INC                          | CUSIP: 989817101<br>LEI: 549300J0PDF58P6HZD25 | Long             | EC               | CORP              | US        |     16600 | NS      | $360884.00    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| ICHOR HOLDINGS, LTD.                           | ICHOR HOLDINGS LTD                  | CUSIP: G4740B105<br>LEI: 529900PS8R2JVLJ2H892 | Long             | EC               | CORP              | KY        |     21430 | NS      | $574752.60    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| ORIGIN BANCORP, INC.                           | ORIGIN BANCORP INC                  | CUSIP: 68621T102<br>LEI: 54930055DO2Z4KO3NB45 | Long             | EC               | CORP              | US        |     18000 | NS      | $660600.00    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| DIAMOND HILL INVESTMENT GROUP, INC.            | DIAMOND HILL INVESTMENT GROUP       | CUSIP: 25264R207<br>LEI: 549300AQ6779A0B7VZ57 | Long             | EC               | CORP              | US        |      2700 | NS      | $499554.00    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| COLUMBUS MCKINNON CORPORATION                  | COLUMBUS MCKINNON CORPORATION       | CUSIP: 199333105<br>LEI: 549300W3HQB0HO1F3G69 | Long             | EC               | CORP              | US        |     20700 | NS      | $672129.00    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN SOFTWARE, INC.                        | AMERICAN SOFTWARE INC               | CUSIP: 029683109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     34772 | NS      | $510452.96    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| OneWater Marine Inc                            | ONEWATER MARINE INC CL A            | CUSIP: 68280L101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10500 | NS      | $300300.00    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKDALE SENIOR LIVING INC.                   | BROOKDALE SENIOR LIVING INC         | CUSIP: 112463104<br>LEI: LH7MQB13NWY7CJ9VC445 | Long             | EC               | CORP              | US        |    111800 | NS      | $305214.00    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| DXP ENTERPRISES, INC.                          | DXP ENTERPRISE INC                  | CUSIP: 233377407<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19900 | NS      | $548245.00    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| CROSS COUNTRY HEALTHCARE, INC.                 | CROSS COUNTRY HEALTHCARE INC        | CUSIP: 227483104<br>LEI: 54930037L0NBIPZ5S663 | Long             | EC               | CORP              | US        |     13952 | NS      | $370704.64    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| KELLY SERVICES, INC.                           | KELLY SERVICES INC A                | CUSIP: 488152208<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     35600 | NS      | $601640.00    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| THE E.W. SCRIPPS COMPANY                       | E W SCRIPPS CO                      | CUSIP: 811054402<br>LEI: 549300U1OW41QPKYW028 | Long             | EC               | CORP              | US        |     25107 | NS      | $331161.33    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| CONNECTONE BANCORP, INC.                       | CONNECTONE BANCORP INC              | CUSIP: 20786W107<br>LEI: 549300E2M5ZYAZKUK134 | Long             | EC               | CORP              | US        |     28100 | NS      | $680301.00    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| DYNEX CAPITAL, INC.                            | DYNEX CAPITAL INC                   | CUSIP: 26817Q886<br>LEI: 5CIJ4S9HAEBWILA19B65 | Long             | EC               | CORP              | US        |     47000 | NS      | $597840.00    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTHERN MISSOURI BANCORP, INC.                | SOUTHERN MISSOURI BANCORP INC       | CUSIP: 843380106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11850 | NS      | $543085.50    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| LANTRONIX, INC.                                | LANTRONIX INC                       | CUSIP: 516548203<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     94451 | NS      | $408028.32    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| ARES COMMERCIAL REAL ESTATE CORPORATION        | ARES COMMERCIAL REAL ESTATE CORP    | CUSIP: 04013V108<br>LEI: 549300ZNO5IWXS443S81 | Long             | EC               | CORP              | US        |     48700 | NS      | $501123.00    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Netstreit Corp                                 | NETSTREIT CORP                      | CUSIP: 64119V303<br>LEI: 254900CJL0EDMEQ25Q84 | Long             | EC               | CORP              | US        |     34800 | NS      | $637884.00    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| ANGIODYNAMICS, INC.                            | ANGIODYNAMICS INC                   | CUSIP: 03475V101<br>LEI: 549300W3VKC5ZKMO8C28 | Long             | EC               | CORP              | US        |     47000 | NS      | $647190.00    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CHUY'S HOLDINGS, INC.                          | CHUY S HOLDINGS INC                 | CUSIP: 171604101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18950 | NS      | $536285.00    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| COVENANT LOGISTICS GROUP, INC.                 | COVENANT LOGISTICS GRP INC          | CUSIP: 22284P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19600 | NS      | $677572.00    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| VSE CORPORATION                                | VSE CORP                            | CUSIP: 918284100<br>LEI: 549300QWJYQDH4U5XI15 | Long             | EC               | CORP              | US        |     12300 | NS      | $576624.00    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| PROPETRO HOLDING CORP.                         | PROPETRO HOLDING CORP               | CUSIP: 74347M108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     36700 | NS      | $380579.00    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| SUNCOKE ENERGY, INC.                           | SUNCOKE ENERGY INC                  | CUSIP: 86722A103<br>LEI: 1KF1J2NXQE2PI0QOB943 | Long             | EC               | CORP              | US        |     78000 | NS      | $673140.00    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| BLUELINX HOLDINGS INC.                         | BLUELINX HOLDINGS INC               | CUSIP: 09624H208<br>LEI: 549300YSX7GU28F5I540 | Long             | EC               | CORP              | US        |      4800 | NS      | $341328.00    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Primis Financial Corp.                         | PRIMIS FINANCIAL CORP               | CUSIP: 74167B109<br>LEI: 549300JNX3M2EENG1F11 | Long             | EC               | CORP              | US        |     41500 | NS      | $491775.00    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| SCHNITZER STEEL INDUSTRIES, INC.               | SCHNITZER STEEL INDUSTRIES INC      | CUSIP: 806882106<br>LEI: 549300F62TK8VRDSM285 | Long             | EC               | CORP              | US        |     20600 | NS      | $631390.00    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| UNIVERSAL ELECTRONICS INC.                     | UNIVERSAL ELECTRONICS INC           | CUSIP: 913483103<br>LEI: 549300ZW9EULAR7T6F89 | Long             | EC               | CORP              | US        |     18000 | NS      | $374580.00    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Washington Trust Bancorp, Inc.                 | WASHINGTON TRUST BANCORP INC        | CUSIP: 940610108<br>LEI: J66MZFCNJPP3PERHZW54 | Long             | EC               | CORP              | US        |     11700 | NS      | $552006.00    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICO'S FAS, INC.                              | CHICO S FAS INC                     | CUSIP: 168615102<br>LEI: 5299003ESGN5T1MFXY13 | Long             | EC               | CORP              | US        |     97000 | NS      | $477240.00    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| FUNKO, INC.                                    | FUNKO INC                           | CUSIP: 361008105<br>LEI: 529900NG9F0KL5P6NK67 | Long             | EC               | CORP              | US        |     17801 | NS      | $194208.91    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| CRA INTERNATIONAL, INC.                        | CRA INTERNATIONAL INC               | CUSIP: 12618T105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3950 | NS      | $483598.50    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| DIAMOND OFFSHORE DRILLING, INC.                | DIAMOND OFFSHORE DRILLING INC       | CUSIP: 25271C201<br>LEI: F14FQJ2EEHW5VPYUHL14 | Long             | EC               | CORP              | US        |     38800 | NS      | $403520.00    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERNATIONAL SEAWAYS, INC.                    | INTERNATIONAL SEAWAYS INC           | CUSIP: Y41053102<br>LEI: 549300YUFDGFRNGBWF46 | Long             | EC               | CORP              | MH        |     11000 | NS      | $407220.00    | 0.63%             |  |  |  | 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        |     79362 | NS      | $79362.50     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| NOODLES & COMPANY                              | NOODLES CO                          | CUSIP: 65540B105<br>LEI: 5299003PCPK4UINV4362 | Long             | EC               | CORP              | US        |     75000 | NS      | $411750.00    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| COWEN INC.                                     | COWEN INC                           | CUSIP: 223622606<br>LEI: 5493008QI0EFC5WBED75 | Long             | EC               | CORP              | US        |     18300 | NS      | $706746.00    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| VEECO INSTRUMENTS INC.                         | VEECO INSTRUMENTS INC               | CUSIP: 922417100<br>LEI: 5493004201F72ADDZW04 | Long             | EC               | CORP              | US        |     21550 | NS      | $400399.00    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| MATRIX SERVICE COMPANY                         | MATRIX SERVICE CO                   | CUSIP: 576853105<br>LEI: 529900VYBKSX6HD2YW58 | Long             | EC               | CORP              | US        |     38000 | NS      | $236360.00    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| EMERALD HOLDING, INC.                          | EMERALD HOLDING INC                 | CUSIP: 29103W104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     87000 | NS      | $307980.00    | 0.48%             |  |  |  | No            |                  1 | On Loan: —       |
| CITY OFFICE REIT, INC.                         | CITY OFFICE REIT INC                | CUSIP: 178587101<br>LEI: 5493003J7157VP25NL57 | Long             | EC               | CORP              | US        |     52000 | NS      | $435760.00    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| MSILF Government Portfolio                     | MSILF GOVERNMENT-INST               | CUSIP: 61747C707<br>LEI: N/A                  | Long             | STIV             | RF                | US        |     79362 | NS      | $79362.50     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| HEALTHSTREAM, INC.                             | HEALTHSTREAM INC                    | CUSIP: 42222N103<br>LEI: 529900OJ88H8635JNH64 | Long             | EC               | CORP              | US        |     25000 | NS      | $621000.00    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| WILLDAN GROUP, INC.                            | WILLDAN GROUP INC                   | CUSIP: 96924N100<br>LEI: 529900YQO0LF5VAEKN05 | Long             | EC               | CORP              | US        |     19859 | NS      | $354483.15    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| EXPRESS, INC.                                  | EXPRESS INC                         | CUSIP: 30219E103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    147000 | NS      | $149940.00    | 0.23%             |  |  |  | No            |                  1 | On Loan: —       |
| CIVISTA BANCSHARES, INC.                       | CIVISTA BANCSHARES INC              | CUSIP: 178867107<br>LEI: 5493001LX61Z2UVYSC48 | Long             | EC               | CORP              | US        |     24000 | NS      | $528240.00    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| BENCHMARK ELECTRONICS, INC.                    | BENCHMARK ELECTRONICS INC           | CUSIP: 08160H101<br>LEI: 549300W18RHYZOZKOP53 | Long             | EC               | CORP              | US        |     16200 | NS      | $432378.00    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST MID BANCSHARES, INC.                     | FIRST MID BANCSHARES INC            | CUSIP: 320866106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21970 | NS      | $704797.60    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| I3 VERTICALS, INC.                             | I3 VERTICALS INC                    | CUSIP: 46571Y107<br>LEI: 549300944CYWVP06CJ97 | Long             | EC               | CORP              | US        |     16450 | NS      | $400393.00    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| DIME COMMUNITY BANCSHARES, INC.                | DIME COMMUNITY BANCSHARES           | CUSIP: 25432X102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20950 | NS      | $666838.50    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HOLDINGS, INC.           | CLEAR CHANNEL OUTDOOR HOLDINGS INC  | CUSIP: 18453H106<br>LEI: 254900XBEE6V1ENYS150 | Long             | EC               | CORP              | US        |    428000 | NS      | $449400.00    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| KIMBALL INTERNATIONAL, INC.                    | KIMBALL INTERNATIONAL INC           | CUSIP: 494274103<br>LEI: 549300RYF7HKL9SKYG25 | Long             | EC               | CORP              | US        |     61345 | NS      | $398742.50    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| BERRY CORPORATION (BRY)                        | BERRY CORP                          | CUSIP: 08579X101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     72100 | NS      | $576800.00    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| WESTERN ASSET MORTGAGE CAPITAL CORPORATION     | WESTERN ASSET MORTGAGE CAPITAL CORP | CUSIP: 95790D204<br>LEI: 549300JOQRROR5SZYY83 | Long             | EC               | CORP              | US        |     14400 | NS      | $131184.00    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXPOINT RESIDENTIAL TRUST, INC.               | NEXPOINT RESIDENTIAL TRUST INC      | CUSIP: 65341D102<br>LEI: 549300U2J6XVYBF87166 | Long             | EC               | CORP              | US        |      8497 | NS      | $369789.44    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| DIGI INTERNATIONAL INC.                        | DIGI INTERNATIONAL INCORPORATED     | CUSIP: 253798102<br>LEI: 529900KG656HGROI4N27 | Long             | EC               | CORP              | US        |     16876 | NS      | $616817.80    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| INSPIRED ENTERTAINMENT, INC.                   | INSPIRED ENTERTAINMENT INC          | CUSIP: 45782N108<br>LEI: 549300ZUGYK6NBIU6D69 | Long             | EC               | CORP              | US        |     37000 | NS      | $468790.00    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| INVESCO GOVERNMENT & AGENCY PORTFOLIO          | INVESCO GVT & AGNCY-INST            | CUSIP: 825252885<br>LEI: N/A                  | Long             | STIV             | RF                | US        |     79362 | NS      | $79362.50     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| SP PLUS CORPORATION                            | SP PLUS CORP                        | CUSIP: 78469C103<br>LEI: 0IDE18EMH1CUKQCUYE69 | Long             | EC               | CORP              | US        |     13400 | NS      | $465248.00    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| VISHAY PRECISION GROUP, INC.                   | VISHAY PRECISION GROUP INC          | CUSIP: 92835K103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15600 | NS      | $602940.00    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| MODINE MANUFACTURING COMPANY                   | MODINE MANUFACTURING CO             | CUSIP: 607828100<br>LEI: Z35SZFYJR8GZZRSIUU09 | Long             | EC               | CORP              | US        |     41445 | NS      | $823097.70    | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| ARTIVION, INC.                                 | ARTIVION INC                        | CUSIP: 228903100<br>LEI: 549300YTKV8DMSMG6K81 | Long             | EC               | CORP              | US        |     37500 | NS      | $454500.00    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| MOTORCAR PARTS OF AMERICA, INC.                | MOTORCAR PARTS OF AMERICA INC       | CUSIP: 620071100<br>LEI: 549300AG4610OSV3H429 | Long             | EC               | CORP              | US        |     37200 | NS      | $441192.00    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| INDEPENDENT BANK CORPORATION                   | INDEPENDENT BANK CORPORATION        | CUSIP: 453838609<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     25000 | NS      | $598000.00    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| BRIDGEWATER BANCSHARES, INC.                   | BRIDGEWATER BANCSHARES INC          | CUSIP: 108621103<br>LEI: 5493001FLSBTVILKXZ71 | Long             | EC               | CORP              | US        |     34000 | NS      | $603160.00    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| HCI GROUP, INC.                                | HCI GROUP INC                       | CUSIP: 40416E103<br>LEI: 549300CZF7EZJH0MPH74 | Long             | EC               | CORP              | US        |     11500 | NS      | $455285.00    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| HERITAGE INSURANCE HOLDINGS, INC.              | HERITAGE INSURANCE HOLDINGS INC     | CUSIP: 42727J102<br>LEI: 9845008CCYDD87F66B45 | Long             | EC               | CORP              | US        |     63000 | NS      | $113400.00    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| EAGLE BULK SHIPPING INC.                       | EAGLE BULK SHIPPING INC             | CUSIP: Y2187A150<br>LEI: 549300EC4INNZBWR8W37 | Long             | EC               | CORP              | MH        |     12170 | NS      | $607769.80    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| SCANSOURCE, INC.                               | SCANSOURCE INC                      | CUSIP: 806037107<br>LEI: 7FHBAN017QDY4K2KP156 | Long             | EC               | CORP              | US        |     20000 | NS      | $584400.00    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| GERMAN AMERICAN BANCORP, INC.                  | GERMAN AMERICAN BANCORP             | CUSIP: 373865104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17200 | NS      | $641560.00    | 1.00%             |  |  |  | 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