# EDGAR Filing Document

**Accession Number:** 0000908695
**File Stem:** 0001004726-26-000015
**Filing Date:** 2026-1
**Character Count:** 54706
**Document Hash:** 0bc64a8ec6d54846749b3567d63213d4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001004726-26-000015.hdr.sgml**: 20260107

**ACCESSION NUMBER**: 0001004726-26-000015

**CONFORMED SUBMISSION TYPE**: N-MFP3

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260107

**DATE AS OF CHANGE**: 20260107

**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:** N-MFP3
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07852
- **FILM NUMBER:** 26516469

**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 Money Market Fund (Formerly USAA Money Market Fund) (Series ID: S000012906)

| Class ID   | Class Name                | Ticker Symbol   |
|:---|:---|:---|
| C000034875 | Victory Money Market Fund | USAXX           |

# Form N-MFP3: Monthly Schedule of Portfolio Holdings

## N-MFP: Filer Information
**Submission Type:** N-MFP3
**CIK:** 0000908695

### General Information

**Report for (YYYY-MM-DD):** 2025-12-31

**Registrant Full Name:** Victory Portfolios III

**CIK Number of Registrant:** 0000908695

**LEI of Registrant:** 549300WIDR2J6W1Y9S11

**Name of Series:** Victory Money Market Fund

**LEI of Series:** 549300R7P96U7JAZST52

**EDGAR Series Identifier:** S000012906

**Total number of share classes in the series:** 1

**Is this the fund's final filing on Form N-MFP?:** No

**Has the fund acquired or merged with another fund?:** No

## Part A: Series-Level Information about the Fund

### Service Providers
| Role                          | Details                                                  | File/CIK Number   |
|:---|:---|:---|
| Investment Adviser            | Victory Capital Management, Inc.                         | 801-46878         |
| Independent Public Accountant | Cohen and Company, Ltd<br>City: Cleveland<br>State: OH   |  |
| Administrator                 | Victory Capital Management, Inc.                         |  |
| Transfer Agent                | Victory Capital Transfer Agency, Inc.<br>CIK: 0000737074 | 084-01197         |

### Fund Characteristics & Assets

- **Securities Act File Number:** 033-65572

- **Is this a Feeder Fund?:** No

- **Is this a Master Fund?:** No

- **Is this series for insurance company separate accounts?:** No

- **Money Market Fund Category:** Prime

- **Is this a Retail Money Market Fund?:** Yes

- **WAM:** 16 days

- **WAL:** 55 days

- **Total Value of Portfolio Securities:** $2071024414.38

- **Amortized Cost of Portfolio Securities:** $2070566690.57

- **Cash:** $4151282.60

- **Total Other Assets:** $1463507.87

- **Total Liabilities:** $7206855.31

- **Net Assets of Series:** $2068974625.73

- **Number of Shares Outstanding (Series):** 2069576011.7200

- **Does the fund seek to maintain a stable price per share?:** Yes

- **Stable Price Per Share:** $1.00

- **Is cash management vehicle an affiliated fund?:** No

- **Does the fund apply liquidity fees?:** No

### Daily & Weekly Liquid Assets
| Date       | Daily Liquid Assets ($)   | Weekly Liquid Assets ($)   | Daily Liquid Assets (%)   | Weekly Liquid Assets (%)   |
|:---|:---|:---|:---|:---|
| 2025-12-01 | $917455710.67             | $1341300931.79             | 43.9200%                  | 64.2100%                   |
| 2025-12-02 | $934282932.69             | $1358136533.81             | 44.8000%                  | 65.1200%                   |
| 2025-12-03 | $908709923.49             | $1327528249.05             | 43.5800%                  | 63.6700%                   |
| 2025-12-04 | $886854130.27             | $1316659466.38             | 41.7600%                  | 62.0000%                   |
| 2025-12-05 | $997364668.39             | $1337194643.39             | 46.1100%                  | 61.8200%                   |
| 2025-12-08 | $934796214.37             | $1209727739.36             | 44.4100%                  | 57.4700%                   |
| 2025-12-09 | $867517748.76             | $1197413090.42             | 40.8700%                  | 56.4100%                   |
| 2025-12-10 | $837602011.33             | $1157465377.99             | 39.8300%                  | 55.0500%                   |
| 2025-12-11 | $836255762.46             | $1156090134.69             | 40.1800%                  | 55.5400%                   |
| 2025-12-12 | $814914353.59             | $1178704685.81             | 39.2900%                  | 56.8300%                   |
| 2025-12-15 | $796144513.72             | $1185020357.59             | 38.2700%                  | 56.9600%                   |
| 2025-12-16 | $814339703.48             | $1168244676.24             | 39.1700%                  | 56.2000%                   |
| 2025-12-17 | $924588739.35             | $1186518731.56             | 44.5100%                  | 57.1200%                   |
| 2025-12-18 | $1012021105.77            | $1151964814.11             | 48.7100%                  | 55.4500%                   |
| 2025-12-19 | $929171314.67             | $1151523188.93             | 44.7300%                  | 55.4300%                   |
| 2025-12-22 | $853308742.77             | $1190609296.29             | 41.0900%                  | 57.3300%                   |
| 2025-12-23 | $722530727.92             | $1144785649.90             | 34.8100%                  | 55.1500%                   |
| 2025-12-24 | $711063266.59             | $1144359532.70             | 34.2600%                  | 55.1300%                   |
| 2025-12-26 | $969646385.77             | $1344384185.77             | 46.7100%                  | 64.7600%                   |
| 2025-12-29 | $1129718951.13            | $1344582671.96             | 54.4100%                  | 64.7500%                   |
| 2025-12-30 | $1065715457.75            | $1365570879.96             | 51.3000%                  | 65.7300%                   |
| 2025-12-31 | $1144142882.60            | $1364039771.50             | 55.1100%                  | 65.7000%                   |

### 7-Day Gross Yield
| Date       | 7-Day Gross Yield   |
|:---|:---|
| 2025-12-01 | 4.1900%             |
| 2025-12-02 | 4.1900%             |
| 2025-12-03 | 4.1900%             |
| 2025-12-04 | 4.1900%             |
| 2025-12-05 | 4.2000%             |
| 2025-12-08 | 4.1900%             |
| 2025-12-09 | 4.1800%             |
| 2025-12-10 | 4.1800%             |
| 2025-12-11 | 4.1600%             |
| 2025-12-12 | 4.1300%             |
| 2025-12-15 | 4.0800%             |
| 2025-12-16 | 4.0600%             |
| 2025-12-17 | 4.0400%             |
| 2025-12-18 | 4.0300%             |
| 2025-12-19 | 4.0200%             |
| 2025-12-22 | 3.9900%             |
| 2025-12-23 | 3.9900%             |
| 2025-12-24 | 3.9800%             |
| 2025-12-26 | 3.9700%             |
| 2025-12-29 | 3.9800%             |
| 2025-12-30 | 3.9700%             |
| 2025-12-31 | 3.9700%             |

### Daily Net Asset Value per Share (Series)
| Date       | Net Asset Value per Share   |
|:---|:---|
| 2025-12-01 | 0.9997                      |
|  |  |
| 2025-12-02 | 0.9997                      |
|  |  |
| 2025-12-03 | 0.9997                      |
|  |  |
| 2025-12-04 | 0.9997                      |
|  |  |
| 2025-12-05 | 0.9997                      |
|  |  |
| 2025-12-08 | 0.9997                      |
|  |  |
| 2025-12-09 | 0.9997                      |
|  |  |
| 2025-12-10 | 0.9997                      |
|  |  |
| 2025-12-11 | 0.9998                      |
|  |  |
| 2025-12-12 | 0.9998                      |
|  |  |
| 2025-12-15 | 0.9998                      |
|  |  |
| 2025-12-16 | 0.9998                      |
|  |  |
| 2025-12-17 | 0.9998                      |
|  |  |
| 2025-12-18 | 0.9998                      |
|  |  |
| 2025-12-19 | 0.9998                      |
|  |  |
| 2025-12-22 | 0.9998                      |
|  |  |
| 2025-12-23 | 0.9998                      |
|  |  |
| 2025-12-24 | 0.9998                      |
|  |  |
| 2025-12-26 | 0.9998                      |
|  |  |
| 2025-12-29 | 0.9998                      |
|  |  |
| 2025-12-30 | 0.9998                      |
|  |  |
| 2025-12-31 | 0.9999                      |
|  |  |

## Part B: Class-Level Information about the Fund

### Class: Victory Money Market Fund

- **Minimum Initial Investment:** $1000.00

- **Net Assets of Class:** $2068974625.73

- **Number of Shares Outstanding:** 2069576011.7200

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2025-12-01 | 0.9997          |
|  |  |
| 2025-12-02 | 0.9997          |
|  |  |
| 2025-12-03 | 0.9997          |
|  |  |
| 2025-12-04 | 0.9997          |
|  |  |
| 2025-12-05 | 0.9997          |
|  |  |
| 2025-12-08 | 0.9997          |
|  |  |
| 2025-12-09 | 0.9997          |
|  |  |
| 2025-12-10 | 0.9997          |
|  |  |
| 2025-12-11 | 0.9998          |
|  |  |
| 2025-12-12 | 0.9998          |
|  |  |
| 2025-12-15 | 0.9998          |
|  |  |
| 2025-12-16 | 0.9998          |
|  |  |
| 2025-12-17 | 0.9998          |
|  |  |
| 2025-12-18 | 0.9998          |
|  |  |
| 2025-12-19 | 0.9998          |
|  |  |
| 2025-12-22 | 0.9998          |
|  |  |
| 2025-12-23 | 0.9998          |
|  |  |
| 2025-12-24 | 0.9998          |
|  |  |
| 2025-12-26 | 0.9998          |
|  |  |
| 2025-12-29 | 0.9998          |
|  |  |
| 2025-12-30 | 0.9998          |
|  |  |
| 2025-12-31 | 0.9999          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2025-12-01 | $7296724.58               | $3905594.65             |
| 2025-12-02 | $2449858.45               | $4946184.59             |
| 2025-12-03 | $1917578.99               | $2702795.53             |
| 2025-12-04 | $1033720.93               | $2727901.58             |
| 2025-12-05 | $2528804.56               | $2216264.30             |
| 2025-12-08 | $3262391.89               | $2642447.63             |
| 2025-12-09 | $1547945.45               | $4070869.46             |
| 2025-12-10 | $1670756.59               | $2386129.69             |
| 2025-12-11 | $1066694.30               | $2594296.24             |
| 2025-12-12 | $1526666.81               | $9128110.41             |
| 2025-12-15 | $8179031.22               | $2326473.77             |
| 2025-12-16 | $3260158.41               | $5185471.90             |
| 2025-12-17 | $1488385.69               | $3325573.43             |
| 2025-12-18 | $1807249.25               | $1648225.77             |
| 2025-12-19 | $2426520.76               | $2989596.46             |
| 2025-12-22 | $1191103.19               | $2521287.90             |
| 2025-12-23 | $2787031.53               | $3808014.88             |
| 2025-12-24 | $1485943.55               | $2015639.41             |
| 2025-12-26 | $1296726.31               | $1289790.60             |
| 2025-12-29 | $1469181.20               | $1714240.61             |
| 2025-12-30 | $3743111.55               | $2816905.10             |
| 2025-12-31 | $2559660.66               | $4196887.94             |

**Total Gross Subscriptions (Month):** $55995245.87

**Total Gross Redemptions (Month):** $71158701.85

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2025-12-01 | 3.5700%           |
| 2025-12-02 | 3.5700%           |
| 2025-12-03 | 3.5700%           |
| 2025-12-04 | 3.5700%           |
| 2025-12-05 | 3.5800%           |
| 2025-12-08 | 3.5700%           |
| 2025-12-09 | 3.5600%           |
| 2025-12-10 | 3.5600%           |
| 2025-12-11 | 3.5400%           |
| 2025-12-12 | 3.5100%           |
| 2025-12-15 | 3.4600%           |
| 2025-12-16 | 3.4400%           |
| 2025-12-17 | 3.4200%           |
| 2025-12-18 | 3.4100%           |
| 2025-12-19 | 3.4000%           |
| 2025-12-22 | 3.3700%           |
| 2025-12-23 | 3.3700%           |
| 2025-12-24 | 3.3600%           |
| 2025-12-26 | 3.3500%           |
| 2025-12-29 | 3.3600%           |
| 2025-12-30 | 3.3500%           |
| 2025-12-31 | 3.3500%           |

## Part C: Schedule of Portfolio Securities

### Security 1: AMERICAN HONDA FINANCE

- **C.1 - Title:** AMERICAN HONDA FINANCE
- **C.6 - Investment Category:** Non-Financial Company Commercial Paper
- **Identifiers:** C.3 - CUSIP: 02665KA98, C.4 - ISIN: US02665KA981, C.3 - LEI: B6Q2VFHD1797Q7NZ3E43, C.5 - Other ID: N/A
- **C.18 - Value (incl. sponsor support):** $19980916.00
- **C.18.a - Value (excl. sponsor support):** $19980916.00
- **C.19 - Percentage of Net Assets:** 0.9700%
- **C.17 - Yield as of Reporting Date:** 4.2200%
- **C.11 - Maturity Date (WAM):** 2026-01-09
- **C.12 - Maturity Date (WAL):** 2026-01-09
- **C.13 - Final Legal Maturity Date:** 2026-01-09
- **C.10 - Ratings:** Fitch: A-2; Moody's: A3; Standard and Poor's: A-
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 2: BANK OF AMERICA CORP

- **C.1 - Title:** BANK OF AMERICA NA
- **C.6 - Investment Category:** Certificate of Deposit
- **Identifiers:** C.3 - CUSIP: 06053RCQ4, C.4 - ISIN: US06053RCQ48, C.3 - LEI: B4TYDEB6GKMZO031MB27, C.5 - Other ID: N/A
- **C.18 - Value (incl. sponsor support):** $20000728.00
- **C.18.a - Value (excl. sponsor support):** $20000728.00
- **C.19 - Percentage of Net Assets:** 0.9700%
- **C.17 - Yield as of Reporting Date:** 4.2900%
- **C.11 - Maturity Date (WAM):** 2026-01-04
- **C.12 - Maturity Date (WAL):** 2026-11-04
- **C.13 - Final Legal Maturity Date:** 2026-11-04
- **C.10 - Ratings:** Fitch: NR; Moody's: NR; Standard and Poor's: NR
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 3: BANK OF AMERICA CORP

- **C.1 - Title:** BANK OF AMERICA NA
- **C.6 - Investment Category:** Certificate of Deposit
- **Identifiers:** C.3 - CUSIP: 06053RBG7, C.4 - ISIN: US06053RBG74, C.3 - LEI: B4TYDEB6GKMZO031MB27, C.5 - Other ID: N/A
- **C.18 - Value (incl. sponsor support):** $20003608.00
- **C.18.a - Value (excl. sponsor support):** $20003608.00
- **C.19 - Percentage of Net Assets:** 0.9700%
- **C.17 - Yield as of Reporting Date:** 4.0300%
- **C.11 - Maturity Date (WAM):** 2026-01-01
- **C.12 - Maturity Date (WAL):** 2026-03-02
- **C.13 - Final Legal Maturity Date:** 2026-03-02
- **C.10 - Ratings:** Fitch: AA+; Moody's: Aa2; Standard and Poor's: A+
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 4: BANK OF AMERICA CORP

- **C.1 - Title:** BANK OF AMERICA NA
- **C.6 - Investment Category:** Certificate of Deposit
- **Identifiers:** C.3 - CUSIP: 06053RCL5, C.4 - ISIN: US06053RCL50, C.3 - LEI: B4TYDEB6GKMZO031MB27, C.5 - Other ID: N/A
- **C.18 - Value (incl. sponsor support):** $20000580.00
- **C.18.a - Value (excl. sponsor support):** $20000580.00
- **C.19 - Percentage of Net Assets:** 0.9700%
- **C.17 - Yield as of Reporting Date:** 4.4100%
- **C.11 - Maturity Date (WAM):** 2026-01-10
- **C.12 - Maturity Date (WAL):** 2026-08-10
- **C.13 - Final Legal Maturity Date:** 2026-08-10
- **C.10 - Ratings:** Fitch: NR; Moody's: NR; Standard and Poor's: NR
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 5: BANK OF AMERICA CORP

- **C.1 - Title:** BANK OF AMERICA NA
- **C.6 - Investment Category:** Certificate of Deposit
- **Identifiers:** C.3 - CUSIP: 06053RCP6, C.4 - ISIN: US06053RCP64, C.3 - LEI: B4TYDEB6GKMZO031MB27, C.5 - Other ID: N/A
- **C.18 - Value (incl. sponsor support):** $20000758.00
- **C.18.a - Value (excl. sponsor support):** $20000758.00
- **C.19 - Percentage of Net Assets:** 0.9700%
- **C.17 - Yield as of Reporting Date:** 4.3100%
- **C.11 - Maturity Date (WAM):** 2026-01-04
- **C.12 - Maturity Date (WAL):** 2026-12-04
- **C.13 - Final Legal Maturity Date:** 2026-12-04
- **C.10 - Ratings:** Fitch: NR; Moody's: NR; Standard and Poor's: NR
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 6: BANK OF NOVA SCOTIA/HOUSTON

- **C.1 - Title:** BANK OF NOVA SCOTIA HOUS
- **C.6 - Investment Category:** Certificate of Deposit
- **Identifiers:** C.3 - CUSIP: 06418NLH3, C.4 - ISIN: US06418NLH34, C.3 - LEI: N/A, C.5 - Other ID: N/A
- **C.18 - Value (incl. sponsor support):** $20032780.02
- **C.18.a - Value (excl. sponsor support):** $20032780.02
- **C.19 - Percentage of Net Assets:** 0.9700%
- **C.17 - Yield as of Reporting Date:** 4.0500%
- **C.11 - Maturity Date (WAM):** 2026-01-01
- **C.12 - Maturity Date (WAL):** 2026-11-10
- **C.13 - Final Legal Maturity Date:** 2026-11-10
- **C.10 - Ratings:** Fitch: NR; Moody's: NR; Standard and Poor's: NR
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 7: BARTON CAPITAL CORP

- **C.1 - Title:** BARTON CAPITAL CORP
- **C.6 - Investment Category:** Asset Backed Commercial Paper
- **Identifiers:** C.3 - CUSIP: 06945MAV8, C.4 - ISIN: US06945MAV81, C.3 - LEI: 549300KOFKIMD0C37W24, C.5 - Other ID: N/A
- **C.18 - Value (incl. sponsor support):** $13957713.00
- **C.18.a - Value (excl. sponsor support):** $13957713.00
- **C.19 - Percentage of Net Assets:** 0.6700%
- **C.17 - Yield as of Reporting Date:** 4.0700%
- **C.11 - Maturity Date (WAM):** 2026-01-29
- **C.12 - Maturity Date (WAL):** 2026-01-29
- **C.13 - Final Legal Maturity Date:** 2026-01-29
- **C.10 - Ratings:** Fitch: NR; Moody's: NR; Standard and Poor's: NR
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 8: BARTON CAPITAL CORP

- **C.1 - Title:** BARTON CAPITAL CORP
- **C.6 - Investment Category:** Asset Backed Commercial Paper
- **Identifiers:** C.3 - CUSIP: 06945MCG9, C.4 - ISIN: US06945MCG96, C.3 - LEI: 549300KOFKIMD0C37W24, C.5 - Other ID: N/A
- **C.18 - Value (incl. sponsor support):** $14881563.00
- **C.18.a - Value (excl. sponsor support):** $14881563.00
- **C.19 - Percentage of Net Assets:** 0.7200%
- **C.17 - Yield as of Reporting Date:** 3.9100%
- **C.11 - Maturity Date (WAM):** 2026-03-16
- **C.12 - Maturity Date (WAL):** 2026-03-16
- **C.13 - Final Legal Maturity Date:** 2026-03-16
- **C.10 - Ratings:** Fitch: NR; Moody's: NR; Standard and Poor's: NR
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 9: BARTON CAPITAL CORP

- **C.1 - Title:** BARTON CAPITAL CORP
- **C.6 - Investment Category:** Asset Backed Commercial Paper
- **Identifiers:** C.3 - CUSIP: 06945MB62, C.4 - ISIN: US06945MB623, C.3 - LEI: 549300KOFKIMD0C37W24, C.5 - Other ID: N/A
- **C.18 - Value (incl. sponsor support):** $19922868.00
- **C.18.a - Value (excl. sponsor support):** $19922868.00
- **C.19 - Percentage of Net Assets:** 0.9600%
- **C.17 - Yield as of Reporting Date:** 4.0800%
- **C.11 - Maturity Date (WAM):** 2026-02-06
- **C.12 - Maturity Date (WAL):** 2026-02-06
- **C.13 - Final Legal Maturity Date:** 2026-02-06
- **C.10 - Ratings:** Fitch: NR; Moody's: NR; Standard and Poor's: NR
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 10: CANCARA ASSET SECURITIZATION LLC

- **C.1 - Title:** CANCARA ASSET SECURITIZATION LLC
- **C.6 - Investment Category:** Asset Backed Commercial Paper
- **Identifiers:** C.3 - CUSIP: 13738KB22, C.4 - ISIN: US13738KB221, C.3 - LEI: N/A, C.5 - Other ID: N/A
- **C.18 - Value (incl. sponsor support):** $19931232.00
- **C.18.a - Value (excl. sponsor support):** $19931232.00
- **C.19 - Percentage of Net Assets:** 0.9600%
- **C.17 - Yield as of Reporting Date:** 4.0100%
- **C.11 - Maturity Date (WAM):** 2026-02-02
- **C.12 - Maturity Date (WAL):** 2026-02-02
- **C.13 - Final Legal Maturity Date:** 2026-02-02
- **C.10 - Ratings:** Fitch: NR; Moody's: NR; Standard and Poor's: NR
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 11: DEUTSCHE BANK A.G.

- **C.1 - Title:** DEUTSCHE BANK NY
- **C.6 - Investment Category:** Certificate of Deposit
- **Identifiers:** C.3 - CUSIP: 25152XYQ7, C.4 - ISIN: US25152XYQ77, C.3 - LEI: N/A, C.5 - Other ID: N/A
- **C.18 - Value (incl. sponsor support):** $20034590.79
- **C.18.a - Value (excl. sponsor support):** $20034590.79
- **C.19 - Percentage of Net Assets:** 0.9700%
- **C.17 - Yield as of Reporting Date:** 4.0600%
- **C.11 - Maturity Date (WAM):** 2026-01-01
- **C.12 - Maturity Date (WAL):** 2026-10-08
- **C.13 - Final Legal Maturity Date:** 2026-10-08
- **C.10 - Ratings:** Fitch: NR; Moody's: NR; Standard and Poor's: NR
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 12: FIXED INCOME CLEARING CORPORATION ("FICC") - STATE STREET BANK & TRUST CO.

- **C.1 - Title:** FIXED INCOME CLEARING CO
- **C.6 - Investment Category:** U.S. Treasury Repurchase Agreement, if collateralized only by U.S. Treasuries (including Strips) and cash
- **Identifiers:** C.3 - CUSIP: N/A, C.4 - ISIN: N/A, C.3 - LEI: 549300H47WTHXPU08X20, C.5 - Other ID: FIC126102
- **C.18 - Value (incl. sponsor support):** $1060000000.00
- **C.18.a - Value (excl. sponsor support):** $1060000000.00
- **C.19 - Percentage of Net Assets:** 51.2300%
- **C.17 - Yield as of Reporting Date:** 3.7900%
- **C.11 - Maturity Date (WAM):** 2026-01-02
- **C.12 - Maturity Date (WAL):** 2026-01-02
- **C.13 - Final Legal Maturity Date:** 2026-01-02
- **C.10 - Ratings:** Fitch: NR; Moody's: NR; Standard and Poor's: NR
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

**C.8 - Repurchase Agreement Details:**

- **Is Open?:** No

- **Is Cleared?:** Yes

- **Name of CCP:** FIXED INCOME CLEARING CORPORATION ("FICC") - STATE STREET BANK & TRUST CO.

- **Is Tri-party?:** No

**Collateral:**
| Issuer Name   | Maturity Date   | Coupon   | Yield   | Principal Amount   | Collateral Value   | Category                           |
|:---|:---|:---|:---|:---|:---|:---|
| USTR          | 2054-05-15      | 4.6250%  | N/A     | $200000000.00      | $195167610.00      | U.S. Treasuries (including strips) |
| USTR          | 2050-08-15      | 1.3750%  | N/A     | $304000000.00      | $152356254.56      | U.S. Treasuries (including strips) |
| USTR          | 2045-05-15      | 5.0000%  | N/A     | $173256200.00      | $179987832.29      | U.S. Treasuries (including strips) |
| USTR          | 2051-05-15      | 2.3750%  | N/A     | $22000000.00       | $14038114.20       | U.S. Treasuries (including strips) |
| USTR          | 2046-11-15      | 2.8750%  | N/A     | $49000000.00       | $36601708.85       | U.S. Treasuries (including strips) |
| USTR          | 2052-05-15      | 2.8750%  | N/A     | $100000000.00      | $70763772.00       | U.S. Treasuries (including strips) |
| USTR          | 2050-02-15      | 2.0000%  | N/A     | $118000000.00      | $70606409.20       | U.S. Treasuries (including strips) |
| USTR          | 2047-05-15      | 3.0000%  | N/A     | $250000000.00      | $189947185.00      | U.S. Treasuries (including strips) |
| USTR          | 2054-02-15      | 4.2500%  | N/A     | $109000000.00      | $101003830.85      | U.S. Treasuries (including strips) |
| USTR          | 2048-05-15      | 3.1250%  | N/A     | $92000000.00       | $70727365.32       | U.S. Treasuries (including strips) |

### Security 13: GENERAL MOTORS FINANCIAL CO.

- **C.1 - Title:** GENERAL MOTORS
- **C.6 - Investment Category:** Non-Financial Company Commercial Paper
- **Identifiers:** C.3 - CUSIP: 37046UA27, C.4 - ISIN: US037046UA27, C.3 - LEI: 5493008B6JBRUJ90QL97, C.5 - Other ID: N/A
- **C.18 - Value (incl. sponsor support):** $79983176.00
- **C.18.a - Value (excl. sponsor support):** $79983176.00
- **C.19 - Percentage of Net Assets:** 3.8700%
- **C.17 - Yield as of Reporting Date:** 3.7800%
- **C.11 - Maturity Date (WAM):** 2026-01-02
- **C.12 - Maturity Date (WAL):** 2026-01-02
- **C.13 - Final Legal Maturity Date:** 2026-01-02
- **C.10 - Ratings:** Fitch: A-2; Moody's: Baa2; Standard and Poor's: BBB
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 14: GOLDMAN SACHS BANK USA

- **C.1 - Title:** GOLDMAN SACHS BANK USA
- **C.6 - Investment Category:** Certificate of Deposit
- **Identifiers:** C.3 - CUSIP: 40054PKE4, C.4 - ISIN: US40054PKE42, C.3 - LEI: KD3XUN7C6T14HNAYLU02, C.5 - Other ID: N/A
- **C.18 - Value (incl. sponsor support):** $20024785.65
- **C.18.a - Value (excl. sponsor support):** $20024785.65
- **C.19 - Percentage of Net Assets:** 0.9700%
- **C.17 - Yield as of Reporting Date:** 3.9900%
- **C.11 - Maturity Date (WAM):** 2026-01-01
- **C.12 - Maturity Date (WAL):** 2026-07-06
- **C.13 - Final Legal Maturity Date:** 2026-07-06
- **C.10 - Ratings:** Fitch: NR; Moody's: NR; Standard and Poor's: NR
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 15: GOLDMAN SACHS BANK USA

- **C.1 - Title:** GOLDMAN SACHS BANK USA
- **C.6 - Investment Category:** Certificate of Deposit
- **Identifiers:** C.3 - CUSIP: 40054PKL8, C.4 - ISIN: US40054PKL84, C.3 - LEI: KD3XUN7C6T14HNAYLU02, C.5 - Other ID: N/A
- **C.18 - Value (incl. sponsor support):** $20028405.34
- **C.18.a - Value (excl. sponsor support):** $20028405.34
- **C.19 - Percentage of Net Assets:** 0.9700%
- **C.17 - Yield as of Reporting Date:** 4.0100%
- **C.11 - Maturity Date (WAM):** 2026-01-01
- **C.12 - Maturity Date (WAL):** 2026-08-07
- **C.13 - Final Legal Maturity Date:** 2026-08-07
- **C.10 - Ratings:** Fitch: NR; Moody's: NR; Standard and Poor's: NR
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 16: GOLDMAN SACHS BANK USA

- **C.1 - Title:** GOLDMAN SACHS BANK USA
- **C.6 - Investment Category:** Certificate of Deposit
- **Identifiers:** C.3 - CUSIP: 40054PKS3, C.4 - ISIN: US40054PKS38, C.3 - LEI: KD3XUN7C6T14HNAYLU02, C.5 - Other ID: N/A
- **C.18 - Value (incl. sponsor support):** $20031208.99
- **C.18.a - Value (excl. sponsor support):** $20031208.99
- **C.19 - Percentage of Net Assets:** 0.9700%
- **C.17 - Yield as of Reporting Date:** 4.0200%
- **C.11 - Maturity Date (WAM):** 2026-01-01
- **C.12 - Maturity Date (WAL):** 2026-10-09
- **C.13 - Final Legal Maturity Date:** 2026-10-09
- **C.10 - Ratings:** Fitch: NR; Moody's: NR; Standard and Poor's: NR
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 17: GOLDMAN SACHS BANK

- **C.1 - Title:** GOLDMAN SACHS BANK
- **C.6 - Investment Category:** Certificate of Deposit
- **Identifiers:** C.3 - CUSIP: 40054PKD6, C.4 - ISIN: US40054PKD68, C.3 - LEI: KD3XUN7C6T14HNAYLU02, C.5 - Other ID: N/A
- **C.18 - Value (incl. sponsor support):** $20028242.17
- **C.18.a - Value (excl. sponsor support):** $20028242.17
- **C.19 - Percentage of Net Assets:** 0.9700%
- **C.17 - Yield as of Reporting Date:** 4.0100%
- **C.11 - Maturity Date (WAM):** 2026-01-01
- **C.12 - Maturity Date (WAL):** 2026-08-05
- **C.13 - Final Legal Maturity Date:** 2026-08-05
- **C.10 - Ratings:** Fitch: NR; Moody's: NR; Standard and Poor's: NR
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 18: GOTHAM FUNDING CORP

- **C.1 - Title:** GOTHAM FUNDING CORP
- **C.6 - Investment Category:** Asset Backed Commercial Paper
- **Identifiers:** C.3 - CUSIP: 38346MC51, C.4 - ISIN: US38346MC517, C.3 - LEI: N/A, C.5 - Other ID: N/A
- **C.18 - Value (incl. sponsor support):** $19866216.00
- **C.18.a - Value (excl. sponsor support):** $19866216.00
- **C.19 - Percentage of Net Assets:** 0.9600%
- **C.17 - Yield as of Reporting Date:** 3.9600%
- **C.11 - Maturity Date (WAM):** 2026-03-05
- **C.12 - Maturity Date (WAL):** 2026-03-05
- **C.13 - Final Legal Maturity Date:** 2026-03-05
- **C.10 - Ratings:** Fitch: NR; Moody's: NR; Standard and Poor's: NR
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 19: HANNOVER FUNDING CO LLC

- **C.1 - Title:** HANNOVER FUNDING CO LLC
- **C.6 - Investment Category:** Asset Backed Commercial Paper
- **Identifiers:** C.3 - CUSIP: 41068LBS4, C.4 - ISIN: US41068LBS43, C.3 - LEI: 549300Q4LWLYRV25UY62, C.5 - Other ID: N/A
- **C.18 - Value (incl. sponsor support):** $19875582.00
- **C.18.a - Value (excl. sponsor support):** $19875582.00
- **C.19 - Percentage of Net Assets:** 0.9600%
- **C.17 - Yield as of Reporting Date:** 4.3200%
- **C.11 - Maturity Date (WAM):** 2026-02-26
- **C.12 - Maturity Date (WAL):** 2026-02-26
- **C.13 - Final Legal Maturity Date:** 2026-02-26
- **C.10 - Ratings:** Fitch: NR; Moody's: NR; Standard and Poor's: NR
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 20: HANNOVER FUNDING CO LLC

- **C.1 - Title:** HANNOVER FUNDING CO LLC
- **C.6 - Investment Category:** Asset Backed Commercial Paper
- **Identifiers:** C.3 - CUSIP: 41068LB21, C.4 - ISIN: US41068LB219, C.3 - LEI: 549300Q4LWLYRV25UY62, C.5 - Other ID: N/A
- **C.18 - Value (incl. sponsor support):** $19928116.00
- **C.18.a - Value (excl. sponsor support):** $19928116.00
- **C.19 - Percentage of Net Assets:** 0.9600%
- **C.17 - Yield as of Reporting Date:** 4.3800%
- **C.11 - Maturity Date (WAM):** 2026-02-02
- **C.12 - Maturity Date (WAL):** 2026-02-02
- **C.13 - Final Legal Maturity Date:** 2026-02-02
- **C.10 - Ratings:** Fitch: NR; Moody's: NR; Standard and Poor's: NR
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 21: HANNOVER FUNDING CO LLC

- **C.1 - Title:** HANNOVER FUNDING CO LLC
- **C.6 - Investment Category:** Asset Backed Commercial Paper
- **Identifiers:** C.3 - CUSIP: 41068LCR5, C.4 - ISIN: US41068LCR50, C.3 - LEI: 549300Q4LWLYRV25UY62, C.5 - Other ID: N/A
- **C.18 - Value (incl. sponsor support):** $19816226.00
- **C.18.a - Value (excl. sponsor support):** $19816226.00
- **C.19 - Percentage of Net Assets:** 0.9600%
- **C.17 - Yield as of Reporting Date:** 4.2500%
- **C.11 - Maturity Date (WAM):** 2026-03-25
- **C.12 - Maturity Date (WAL):** 2026-03-25
- **C.13 - Final Legal Maturity Date:** 2026-03-25
- **C.10 - Ratings:** Fitch: NR; Moody's: NR; Standard and Poor's: NR
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 22: HANNOVER FUNDING CO

- **C.1 - Title:** HANNOVER FUNDING CO
- **C.6 - Investment Category:** Asset Backed Commercial Paper
- **Identifiers:** C.3 - CUSIP: 41068LDV5, C.4 - ISIN: US41068LDV53, C.3 - LEI: 549300Q4LWLYRV25UY62, C.5 - Other ID: N/A
- **C.18 - Value (incl. sponsor support):** $19739522.00
- **C.18.a - Value (excl. sponsor support):** $19739522.00
- **C.19 - Percentage of Net Assets:** 0.9500%
- **C.17 - Yield as of Reporting Date:** 4.1100%
- **C.11 - Maturity Date (WAM):** 2026-04-29
- **C.12 - Maturity Date (WAL):** 2026-04-29
- **C.13 - Final Legal Maturity Date:** 2026-04-29
- **C.10 - Ratings:** Fitch: NR; Moody's: NR; Standard and Poor's: NR
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 23: INTERCONTINENTAL EXCHANGE INC.

- **C.1 - Title:** INTERCONTINENTAL EXCHANGE INC
- **C.6 - Investment Category:** Financial Company Commercial Paper
- **Identifiers:** C.3 - CUSIP: 45856XA56, C.4 - ISIN: US045856XA56, C.3 - LEI: 5493000F4ZO33MV32P92, C.5 - Other ID: N/A
- **C.18 - Value (incl. sponsor support):** $59968200.00
- **C.18.a - Value (excl. sponsor support):** $59968200.00
- **C.19 - Percentage of Net Assets:** 2.9000%
- **C.17 - Yield as of Reporting Date:** 4.0800%
- **C.11 - Maturity Date (WAM):** 2026-01-05
- **C.12 - Maturity Date (WAL):** 2026-01-05
- **C.13 - Final Legal Maturity Date:** 2026-01-05
- **C.10 - Ratings:** Fitch: A-2; Moody's: A3; Standard and Poor's: A-
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 24: LMA AMERICAS LLC

- **C.1 - Title:** LMA AMERICAS LLC
- **C.6 - Investment Category:** Asset Backed Commercial Paper
- **Identifiers:** C.3 - CUSIP: 53944RBH0, C.4 - ISIN: US53944RBH03, C.3 - LEI: 969500DWS97CYSHCPT49, C.5 - Other ID: N/A
- **C.18 - Value (incl. sponsor support):** $19899414.00
- **C.18.a - Value (excl. sponsor support):** $19899414.00
- **C.19 - Percentage of Net Assets:** 0.9600%
- **C.17 - Yield as of Reporting Date:** 4.3800%
- **C.11 - Maturity Date (WAM):** 2026-02-17
- **C.12 - Maturity Date (WAL):** 2026-02-17
- **C.13 - Final Legal Maturity Date:** 2026-02-17
- **C.10 - Ratings:** Fitch: NR; Moody's: NR; Standard and Poor's: NR
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 25: LMA AMERICAS LLC

- **C.1 - Title:** LMA AMERICAS LLC
- **C.6 - Investment Category:** Asset Backed Commercial Paper
- **Identifiers:** C.3 - CUSIP: 53944RB23, C.4 - ISIN: US53944RB239, C.3 - LEI: 969500DWS97CYSHCPT49, C.5 - Other ID: N/A
- **C.18 - Value (incl. sponsor support):** $19930866.00
- **C.18.a - Value (excl. sponsor support):** $19930866.00
- **C.19 - Percentage of Net Assets:** 0.9600%
- **C.17 - Yield as of Reporting Date:** 4.4200%
- **C.11 - Maturity Date (WAM):** 2026-02-02
- **C.12 - Maturity Date (WAL):** 2026-02-02
- **C.13 - Final Legal Maturity Date:** 2026-02-02
- **C.10 - Ratings:** Fitch: NR; Moody's: NR; Standard and Poor's: NR
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 26: LMA AMERICAS LLC

- **C.1 - Title:** LMA AMERICAS LLC
- **C.6 - Investment Category:** Asset Backed Commercial Paper
- **Identifiers:** C.3 - CUSIP: 53944REJ3, C.4 - ISIN: US53944REJ32, C.3 - LEI: 969500DWS97CYSHCPT49, C.5 - Other ID: N/A
- **C.18 - Value (incl. sponsor support):** $19711886.00
- **C.18.a - Value (excl. sponsor support):** $19711886.00
- **C.19 - Percentage of Net Assets:** 0.9500%
- **C.17 - Yield as of Reporting Date:** 3.9600%
- **C.11 - Maturity Date (WAM):** 2026-05-18
- **C.12 - Maturity Date (WAL):** 2026-05-18
- **C.13 - Final Legal Maturity Date:** 2026-05-18
- **C.10 - Ratings:** Fitch: NR; Moody's: NR; Standard and Poor's: NR
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 27: LMA AMERICAS LLC

- **C.1 - Title:** LMA AMERICAS LLC
- **C.6 - Investment Category:** Asset Backed Commercial Paper
- **Identifiers:** C.3 - CUSIP: 53944RC97, C.4 - ISIN: US53944RC971, C.3 - LEI: 969500DWS97CYSHCPT49, C.5 - Other ID: N/A
- **C.18 - Value (incl. sponsor support):** $19857854.00
- **C.18.a - Value (excl. sponsor support):** $19857854.00
- **C.19 - Percentage of Net Assets:** 0.9600%
- **C.17 - Yield as of Reporting Date:** 3.9800%
- **C.11 - Maturity Date (WAM):** 2026-03-09
- **C.12 - Maturity Date (WAL):** 2026-03-09
- **C.13 - Final Legal Maturity Date:** 2026-03-09
- **C.10 - Ratings:** Fitch: NR; Moody's: NR; Standard and Poor's: NR
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 28: MITSUBISHI UFJ TR BK

- **C.1 - Title:** MITSUBISHI UFJ TR BK
- **C.6 - Investment Category:** Certificate of Deposit
- **Identifiers:** C.3 - CUSIP: 60683FBQ6, C.4 - ISIN: US60683FBQ63, C.3 - LEI: N/A, C.5 - Other ID: N/A
- **C.18 - Value (incl. sponsor support):** $20032928.29
- **C.18.a - Value (excl. sponsor support):** $20032928.29
- **C.19 - Percentage of Net Assets:** 0.9700%
- **C.17 - Yield as of Reporting Date:** 4.0600%
- **C.11 - Maturity Date (WAM):** 2026-01-01
- **C.12 - Maturity Date (WAL):** 2026-09-10
- **C.13 - Final Legal Maturity Date:** 2026-09-10
- **C.10 - Ratings:** Fitch: NR; Moody's: NR; Standard and Poor's: NR
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 29: MIZUHO BANK LTD NY

- **C.1 - Title:** MIZUHO BANK LTD NY
- **C.6 - Investment Category:** Certificate of Deposit
- **Identifiers:** C.3 - CUSIP: 60710T6N6, C.4 - ISIN: US60710T6N66, C.3 - LEI: N/A, C.5 - Other ID: N/A
- **C.18 - Value (incl. sponsor support):** $25041497.95
- **C.18.a - Value (excl. sponsor support):** $25041497.95
- **C.19 - Percentage of Net Assets:** 1.2100%
- **C.17 - Yield as of Reporting Date:** 4.1000%
- **C.11 - Maturity Date (WAM):** 2026-01-01
- **C.12 - Maturity Date (WAL):** 2026-10-22
- **C.13 - Final Legal Maturity Date:** 2026-10-22
- **C.10 - Ratings:** Fitch: NR; Moody's: NR; Standard and Poor's: NR
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 30: OVINTIV INC

- **C.1 - Title:** OVINTIV INC
- **C.6 - Investment Category:** Non-Financial Company Commercial Paper
- **Identifiers:** C.3 - CUSIP: 69047KA54, C.4 - ISIN: US069047KA54, C.3 - LEI: 2549003MEX7YMKLGI239, C.5 - Other ID: N/A
- **C.18 - Value (incl. sponsor support):** $59965764.00
- **C.18.a - Value (excl. sponsor support):** $59965764.00
- **C.19 - Percentage of Net Assets:** 2.9000%
- **C.17 - Yield as of Reporting Date:** 4.2400%
- **C.11 - Maturity Date (WAM):** 2026-01-05
- **C.12 - Maturity Date (WAL):** 2026-01-05
- **C.13 - Final Legal Maturity Date:** 2026-01-05
- **C.10 - Ratings:** Fitch: NR; Moody's: NR; Standard and Poor's: NR
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 31: POTOMAC ELECTRIC POWER CO.

- **C.1 - Title:** POTOMAC ELECTRIC POWER
- **C.6 - Investment Category:** Non-Financial Company Commercial Paper
- **Identifiers:** C.3 - CUSIP: 73768BA53, C.4 - ISIN: US73768BA531, C.3 - LEI: 549300BXF2DWUNN57U06, C.5 - Other ID: N/A
- **C.18 - Value (incl. sponsor support):** $79957680.00
- **C.18.a - Value (excl. sponsor support):** $79957680.00
- **C.19 - Percentage of Net Assets:** 3.8600%
- **C.17 - Yield as of Reporting Date:** 3.8900%
- **C.11 - Maturity Date (WAM):** 2026-01-05
- **C.12 - Maturity Date (WAL):** 2026-01-05
- **C.13 - Final Legal Maturity Date:** 2026-01-05
- **C.10 - Ratings:** Fitch: A-2; Moody's: A2; Standard and Poor's: A-
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 32: REPUBLIC SERVICES  INC.

- **C.1 - Title:** REPUBLIC SERVICES INC
- **C.6 - Investment Category:** Non-Financial Company Commercial Paper
- **Identifiers:** C.3 - CUSIP: 76076GA78, C.4 - ISIN: US76076GA782, C.3 - LEI: NKNQHM6BLECKVOQP7O46, C.5 - Other ID: N/A
- **C.18 - Value (incl. sponsor support):** $19985144.00
- **C.18.a - Value (excl. sponsor support):** $19985144.00
- **C.19 - Percentage of Net Assets:** 0.9700%
- **C.17 - Yield as of Reporting Date:** 4.0100%
- **C.11 - Maturity Date (WAM):** 2026-01-07
- **C.12 - Maturity Date (WAL):** 2026-01-07
- **C.13 - Final Legal Maturity Date:** 2026-01-07
- **C.10 - Ratings:** Fitch: A-2; Moody's: A3; Standard and Poor's: A-
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

### Security 33: RIDGEFIELD FUNDING CO LLC

- **C.1 - Title:** RIDGEFIELD FUNDING CO LLC
- **C.6 - Investment Category:** Asset Backed Commercial Paper
- **Identifiers:** C.3 - CUSIP: 76582KEB3, C.4 - ISIN: US76582KEB35, C.3 - LEI: N/A, C.5 - Other ID: N/A
- **C.18 - Value (incl. sponsor support):** $19728176.00
- **C.18.a - Value (excl. sponsor support):** $19728176.00
- **C.19 - Percentage of Net Assets:** 0.9500%
- **C.17 - Yield as of Reporting Date:** 3.9700%
- **C.11 - Maturity Date (WAM):** 2026-05-11
- **C.12 - Maturity Date (WAL):** 2026-05-11
- **C.13 - Final Legal Maturity Date:** 2026-05-11
- **C.10 - Ratings:** Fitch: NR; Moody's: NR; Standard and Poor's: NR
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 34: RIDGEFIELD FUNDING CO LLC

- **C.1 - Title:** RIDGEFIELD FUNDING CO LLC
- **C.6 - Investment Category:** Asset Backed Commercial Paper
- **Identifiers:** C.3 - CUSIP: 76582KF48, C.4 - ISIN: US76582KF483, C.3 - LEI: N/A, C.5 - Other ID: N/A
- **C.18 - Value (incl. sponsor support):** $19678160.00
- **C.18.a - Value (excl. sponsor support):** $19678160.00
- **C.19 - Percentage of Net Assets:** 0.9500%
- **C.17 - Yield as of Reporting Date:** 3.9800%
- **C.11 - Maturity Date (WAM):** 2026-06-04
- **C.12 - Maturity Date (WAL):** 2026-06-04
- **C.13 - Final Legal Maturity Date:** 2026-06-04
- **C.10 - Ratings:** Fitch: NR; Moody's: NR; Standard and Poor's: NR
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 35: RIDGEFIELD FUNDING CO LLC

- **C.1 - Title:** RIDGEFIELD FUNDING CO LLC
- **C.6 - Investment Category:** Asset Backed Commercial Paper
- **Identifiers:** C.3 - CUSIP: 76582KET4, C.4 - ISIN: US76582KET43, C.3 - LEI: N/A, C.5 - Other ID: N/A
- **C.18 - Value (incl. sponsor support):** $19694976.00
- **C.18.a - Value (excl. sponsor support):** $19694976.00
- **C.19 - Percentage of Net Assets:** 0.9500%
- **C.17 - Yield as of Reporting Date:** 3.9200%
- **C.11 - Maturity Date (WAM):** 2026-05-27
- **C.12 - Maturity Date (WAL):** 2026-05-27
- **C.13 - Final Legal Maturity Date:** 2026-05-27
- **C.10 - Ratings:** Fitch: NR; Moody's: NR; Standard and Poor's: NR
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 36: RIDGEFIELD FUNDING CO LLC

- **C.1 - Title:** RIDGEFIELD FUNDING CO LLC
- **C.6 - Investment Category:** Asset Backed Commercial Paper
- **Identifiers:** C.3 - CUSIP: 76582KF97, C.4 - ISIN: US76582KF970, C.3 - LEI: N/A, C.5 - Other ID: N/A
- **C.18 - Value (incl. sponsor support):** $19667556.00
- **C.18.a - Value (excl. sponsor support):** $19667556.00
- **C.19 - Percentage of Net Assets:** 0.9500%
- **C.17 - Yield as of Reporting Date:** 3.9800%
- **C.11 - Maturity Date (WAM):** 2026-06-09
- **C.12 - Maturity Date (WAL):** 2026-06-09
- **C.13 - Final Legal Maturity Date:** 2026-06-09
- **C.10 - Ratings:** Fitch: NR; Moody's: NR; Standard and Poor's: NR
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 37: ROYAL BANK OF CANADA NY

- **C.1 - Title:** ROYAL BANK OF CANADA NY
- **C.6 - Investment Category:** Certificate of Deposit
- **Identifiers:** C.3 - CUSIP: 78015JQQ3, C.4 - ISIN: US78015JQQ30, C.3 - LEI: N/A, C.5 - Other ID: N/A
- **C.18 - Value (incl. sponsor support):** $20027994.84
- **C.18.a - Value (excl. sponsor support):** $20027994.84
- **C.19 - Percentage of Net Assets:** 0.9700%
- **C.17 - Yield as of Reporting Date:** 4.0200%
- **C.11 - Maturity Date (WAM):** 2026-01-01
- **C.12 - Maturity Date (WAL):** 2026-10-09
- **C.13 - Final Legal Maturity Date:** 2026-10-09
- **C.10 - Ratings:** Fitch: NR; Moody's: NR; Standard and Poor's: NR
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 38: SHEFFIELD RECEIVABLES

- **C.1 - Title:** SHEFFIELD RECEIVABLES
- **C.6 - Investment Category:** Asset Backed Commercial Paper
- **Identifiers:** C.3 - CUSIP: 82124MC65, C.4 - ISIN: US82124MC653, C.3 - LEI: N/A, C.5 - Other ID: N/A
- **C.18 - Value (incl. sponsor support):** $19864162.00
- **C.18.a - Value (excl. sponsor support):** $19864162.00
- **C.19 - Percentage of Net Assets:** 0.9600%
- **C.17 - Yield as of Reporting Date:** 3.9900%
- **C.11 - Maturity Date (WAM):** 2026-03-06
- **C.12 - Maturity Date (WAL):** 2026-03-06
- **C.13 - Final Legal Maturity Date:** 2026-03-06
- **C.10 - Ratings:** Fitch: NR; Moody's: NR; Standard and Poor's: NR
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 39: SHEFFIELD RECEIVABLES

- **C.1 - Title:** SHEFFIELD RECEIVABLES
- **C.6 - Investment Category:** Asset Backed Commercial Paper
- **Identifiers:** C.3 - CUSIP: 82124MC99, C.4 - ISIN: US82124MC992, C.3 - LEI: N/A, C.5 - Other ID: N/A
- **C.18 - Value (incl. sponsor support):** $19857854.00
- **C.18.a - Value (excl. sponsor support):** $19857854.00
- **C.19 - Percentage of Net Assets:** 0.9600%
- **C.17 - Yield as of Reporting Date:** 3.9900%
- **C.11 - Maturity Date (WAM):** 2026-03-09
- **C.12 - Maturity Date (WAL):** 2026-03-09
- **C.13 - Final Legal Maturity Date:** 2026-03-09
- **C.10 - Ratings:** Fitch: NR; Moody's: NR; Standard and Poor's: NR
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 40: SUMITOMO MITSUI FINANCIAL

- **C.1 - Title:** SUMITOMO MITSUI BANK NY
- **C.6 - Investment Category:** Certificate of Deposit
- **Identifiers:** C.3 - CUSIP: 86565GSW1, C.4 - ISIN: US86565GSW14, C.3 - LEI: 549300MS3WYYVQ4HXM15, C.5 - Other ID: N/A
- **C.18 - Value (incl. sponsor support):** $20021774.85
- **C.18.a - Value (excl. sponsor support):** $20021774.85
- **C.19 - Percentage of Net Assets:** 0.9700%
- **C.17 - Yield as of Reporting Date:** 3.9900%
- **C.11 - Maturity Date (WAM):** 2026-01-01
- **C.12 - Maturity Date (WAL):** 2026-06-10
- **C.13 - Final Legal Maturity Date:** 2026-06-10
- **C.10 - Ratings:** Fitch: NR; Moody's: NR; Standard and Poor's: NR
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 41: SUMITOMO MITSUI FINANCIAL

- **C.1 - Title:** SUMITOMO MITSUI BAN NY
- **C.6 - Investment Category:** Certificate of Deposit
- **Identifiers:** C.3 - CUSIP: 86565GSV3, C.4 - ISIN: US86565GSV31, C.3 - LEI: 549300MS3WYYVQ4HXM15, C.5 - Other ID: N/A
- **C.18 - Value (incl. sponsor support):** $20033851.32
- **C.18.a - Value (excl. sponsor support):** $20033851.32
- **C.19 - Percentage of Net Assets:** 0.9700%
- **C.17 - Yield as of Reporting Date:** 4.0600%
- **C.11 - Maturity Date (WAM):** 2026-01-01
- **C.12 - Maturity Date (WAL):** 2026-09-04
- **C.13 - Final Legal Maturity Date:** 2026-09-04
- **C.10 - Ratings:** Fitch: NR; Moody's: NR; Standard and Poor's: NR
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

### Security 42: TORONTO DOMINION BANK NY

- **C.1 - Title:** TORONTO DOMINION BANK NY
- **C.6 - Investment Category:** Certificate of Deposit
- **Identifiers:** C.3 - CUSIP: 89115D2M7, C.4 - ISIN: US89115D2M72, C.3 - LEI: N/A, C.5 - Other ID: N/A
- **C.18 - Value (incl. sponsor support):** $20029858.17
- **C.18.a - Value (excl. sponsor support):** $20029858.17
- **C.19 - Percentage of Net Assets:** 0.9700%
- **C.17 - Yield as of Reporting Date:** 4.0900%
- **C.11 - Maturity Date (WAM):** 2026-01-01
- **C.12 - Maturity Date (WAL):** 2026-10-08
- **C.13 - Final Legal Maturity Date:** 2026-10-08
- **C.10 - Ratings:** Fitch: NR; Moody's: NR; Standard and Poor's: NR
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? No, C.21 Is a Weekly Liquid Asset? No, C.23 Categorized at Level 3? No

## N-MFP: Signatures

**Registrant:** Victory Portfolios III

**Date:** 2026-01-07

**By:** Carol Trevino

**Name of Signing Officer:** Carol Trevino

**Title of Signing Officer:** Treasurer