# EDGAR Filing Document

**Accession Number:** 0000908695
**File Stem:** 0001104659-25-069843
**Filing Date:** 2025-7
**Character Count:** 21205
**Document Hash:** 37cb7f4e9ef782c2b06bfaeac6bea5de
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-069843.hdr.sgml**: 20250723

**ACCESSION NUMBER**: 0001104659-25-069843

**CONFORMED SUBMISSION TYPE**: 24F-2NT

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250723

**DATE AS OF CHANGE**: 20250723

**EFFECTIVENESS DATE**: 20250723

**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:** 24F-2NT
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-65572
- **FILM NUMBER:** 251141930

**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 Aggressive Growth Fund (Formerly USAA Aggressive Growth Fund) (Series ID: S000012894)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                          | Ticker Symbol | Class ID   |
| Victory Aggressive Growth Fund Shares               | USAUX         | C000034863 |
| Victory Aggressive Growth Fund Institutional Shares | UIAGX         | C000066835 |

---

### Victory Growth Fund (Formerly USAA Growth Fund) (Series ID: S000012895)

---

|  |  |  |
|:---|:---|:---|
| Class Name                               | Ticker Symbol | Class ID   |
| Victory Growth Fund Shares               | USAAX         | C000034864 |
| Victory Growth Fund Institutional Shares | UIGRX         | C000066836 |

---

### Victory Growth & Income Fund (Formerly USAA Growth & Income Fund) (Series ID: S000012896)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                        | Ticker Symbol | Class ID   |
| Victory Growth & Income Fund Shares               | USGRX         | C000034865 |
| Victory Growth & Income Fund Institutional Shares | UIGIX         | C000159207 |

---

### Victory High Income Fund (Formerly USAA High Income Fund) (Series ID: S000012898)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                    | Ticker Symbol | Class ID   |
| Victory High Income Fund Shares               | USHYX         | C000034867 |
| Victory High Income Fund Institutional Shares | UIHIX         | C000066837 |
| Victory High Income Fund Class R6             | URHIX         | C000175747 |

---

### Victory Income Fund (Formerly USAA Income Fund) (Series ID: S000012899)

---

|  |  |  |
|:---|:---|:---|
| Class Name                               | Ticker Symbol | Class ID   |
| Victory Income Fund Shares               | USAIX         | C000034868 |
| Victory Income Fund Institutional Shares | UIINX         | C000066838 |
| Victory Income Fund Class R6             | URIFX         | C000175748 |
| Victory Income Fund Class A              | UINCX         | C000220609 |

---

### Victory Income Stock Fund (Formerly USAA Income Stock Fund) (Series ID: S000012900)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                     | Ticker Symbol | Class ID   |
| Victory Income Stock Fund Shares               | USISX         | C000034869 |
| Victory Income Stock Fund Institutional Shares | UIISX         | C000066839 |

---

### Victory Core Plus Intermediate Bond Fund (Formerly USAA Intermediate-Term Bond Fund) (Series ID: S000012902)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                                    | Ticker Symbol | Class ID   |
| Victory Core Plus Intermediate Bond Fund Shares               | USIBX         | C000034871 |
| Victory Core Plus Intermediate Bond Fund Institutional Shares | UIITX         | C000066840 |
| Victory Core Plus Intermediate Bond Fund Class R6             | URIBX         | C000175750 |
| Victory Core Plus Intermediate Bond Fund Class A              | UITBX         | C000220613 |
| Victory Core Plus Intermediate Bond Fund Class C              | UITCX         | C000220614 |

---

### Victory Money Market Fund (Formerly USAA Money Market Fund) (Series ID: S000012906)

---

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

---

### Victory Nasdaq-100 Index Fund (Formerly USAA Nasdaq-100 Index Fund) (Series ID: S000012907)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                         | Ticker Symbol | Class ID   |
| Victory Nasdaq-100 Index Fund Shares               | USNQX         | C000034876 |
| Victory Nasdaq-100 Index Fund Class R6             | URNQX         | C000179381 |
| Victory Nasdaq-100 Index Fund Class A              | UANQX         | C000220618 |
| Victory Nasdaq-100 Index Fund Institutional Shares | UINQX         | C000220619 |
| Victory Nasdaq-100 Index Fund Class C              | UCNQX         | C000220620 |

---

### Victory Science & Technology Fund (Formerly USAA Science & Technology Fund) (Series ID: S000012911)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                | Ticker Symbol | Class ID   |
| Victory Science & Technology Fund Shares  | USSCX         | C000034880 |
| Victory Science & Technology Fund Class A | USTCX         | C000220624 |

---

### Victory Short-Term Bond Fund (Formerly USAA Short-Term Bond Fund) (Series ID: S000012913)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                        | Ticker Symbol | Class ID   |
| Victory Short-Term Bond Fund Shares               | USSBX         | C000034882 |
| Victory Short-Term Bond Fund Institutional Shares | UISBX         | C000066843 |
| Victory Short-Term Bond Fund Class R6             | URSBX         | C000175751 |
| Victory Short-Term Bond Fund Class A              | UASBX         | C000220627 |

---

### Victory Small Cap Stock Fund (Formerly USAA Small Cap Stock Fund) (Series ID: S000012914)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                        | Ticker Symbol | Class ID   |
| Victory Small Cap Stock Fund Shares               | USCAX         | C000034883 |
| Victory Small Cap Stock Fund Institutional Shares | UISCX         | C000066844 |

---

### Victory 500 Index Fund (Formerly USAA 500 Index Fund) (Series ID: S000012915)

---

|  |  |  |
|:---|:---|:---|
| Class Name                           | Ticker Symbol | Class ID   |
| Victory 500 Index Fund Member Shares | USSPX         | C000034884 |
| Victory 500 Index Fund Reward Shares | USPRX         | C000034885 |

---

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

---

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

---

### Victory Capital Growth Fund (Formerly USAA Capital Growth Fund) (Series ID: S000012925)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                       | Ticker Symbol | Class ID   |
| Victory Capital Growth Fund Shares               | USCGX         | C000034895 |
| Victory Capital Growth Fund Institutional Shares | UICGX         | C000159209 |

---

### Victory Extended Market Index Fund (Formerly USAA Extended Market Index Fund) (Series ID: S000012941)

---

|  |  |  |
|:---|:---|:---|
| Class Name                         | Ticker Symbol | Class ID   |
| Victory Extended Market Index Fund | USMIX         | C000034943 |

---

### Victory Global Managed Volatility Fund (Formerly USAA Global Managed Volatility Fund) (Series ID: S000022882)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                                  | Ticker Symbol | Class ID   |
| Victory Global Managed Volatility Fund Institutional Shares | UGOFX         | C000066372 |
| Victory Global Managed Volatility Fund Shares               | UGMVX         | C000129296 |

---

### Victory Target Retirement Income Fund (Formerly USAA Target Retirement Income Fund) (Series ID: S000022883)

---

|  |  |  |
|:---|:---|:---|
| Class Name                            | Ticker Symbol | Class ID   |
| Victory Target Retirement Income Fund | URINX         | C000066373 |

---

### Victory Target Retirement 2030 Fund (Formerly USAA Target Retirement 2030 Fund) (Series ID: S000022885)

---

|  |  |  |
|:---|:---|:---|
| Class Name                          | Ticker Symbol | Class ID   |
| Victory Target Retirement 2030 Fund | URTRX         | C000066375 |

---

### Victory Target Retirement 2040 Fund (Formerly USAA Target Retirement 2040 Fund) (Series ID: S000022886)

---

|  |  |  |
|:---|:---|:---|
| Class Name                          | Ticker Symbol | Class ID   |
| Victory Target Retirement 2040 Fund | URFRX         | C000066376 |

---

### Victory Target Retirement 2050 Fund (Formerly USAA Target Retirement 2050 Fund) (Series ID: S000022887)

---

|  |  |  |
|:---|:---|:---|
| Class Name                          | Ticker Symbol | Class ID   |
| Victory Target Retirement 2050 Fund | URFFX         | C000066377 |

---

### Victory Ultra Short-Term Bond Fund (Formerly USAA Ultra Short-Term Bond Fund) (Series ID: S000030169)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                              | Ticker Symbol | Class ID   |
| Victory Ultra Short-Term Bond Fund Shares               | UUSTX         | C000092834 |
| Victory Ultra Short-Term Bond Fund Institutional Shares | UUSIX         | C000130753 |
| Victory Ultra Short-Term Bond Fund Class R6             | URUSX         | C000179382 |
| Victory Ultra Short-Term Bond Fund Class A              | USBAX         | C000220636 |

---

### Victory Target Retirement 2060 Fund (Formerly USAA Target Retirement 2060 Fund) (Series ID: S000041439)

---

|  |  |  |
|:---|:---|:---|
| Class Name                          | Ticker Symbol | Class ID   |
| Victory Target Retirement 2060 Fund | URSIX         | C000128656 |

---

## Series and Classes Contracts Data

### Victory Aggressive Growth Fund (Formerly USAA Aggressive Growth Fund) (Series ID: S000012894)

| Class ID   | Class Name                                          | Ticker Symbol   |
|:---|:---|:---|
| C000034863 | Victory Aggressive Growth Fund Shares               | USAUX           |
| C000066835 | Victory Aggressive Growth Fund Institutional Shares | UIAGX           |

### Victory Growth Fund (Formerly USAA Growth Fund) (Series ID: S000012895)

| Class ID   | Class Name                               | Ticker Symbol   |
|:---|:---|:---|
| C000034864 | Victory Growth Fund Shares               | USAAX           |
| C000066836 | Victory Growth Fund Institutional Shares | UIGRX           |

### Victory Growth & Income Fund (Formerly USAA Growth & Income Fund) (Series ID: S000012896)

| Class ID   | Class Name                                        | Ticker Symbol   |
|:---|:---|:---|
| C000034865 | Victory Growth & Income Fund Shares               | USGRX           |
| C000159207 | Victory Growth & Income Fund Institutional Shares | UIGIX           |

### Victory High Income Fund (Formerly USAA High Income Fund) (Series ID: S000012898)

| Class ID   | Class Name                                    | Ticker Symbol   |
|:---|:---|:---|
| C000034867 | Victory High Income Fund Shares               | USHYX           |
| C000066837 | Victory High Income Fund Institutional Shares | UIHIX           |
| C000175747 | Victory High Income Fund Class R6             | URHIX           |

### Victory Income Fund (Formerly USAA Income Fund) (Series ID: S000012899)

| Class ID   | Class Name                               | Ticker Symbol   |
|:---|:---|:---|
| C000034868 | Victory Income Fund Shares               | USAIX           |
| C000066838 | Victory Income Fund Institutional Shares | UIINX           |
| C000175748 | Victory Income Fund Class R6             | URIFX           |
| C000220609 | Victory Income Fund Class A              | UINCX           |

### Victory Income Stock Fund (Formerly USAA Income Stock Fund) (Series ID: S000012900)

| Class ID   | Class Name                                     | Ticker Symbol   |
|:---|:---|:---|
| C000034869 | Victory Income Stock Fund Shares               | USISX           |
| C000066839 | Victory Income Stock Fund Institutional Shares | UIISX           |

### Victory Core Plus Intermediate Bond Fund (Formerly USAA Intermediate-Term Bond Fund) (Series ID: S000012902)

| Class ID   | Class Name                                                    | Ticker Symbol   |
|:---|:---|:---|
| C000034871 | Victory Core Plus Intermediate Bond Fund Shares               | USIBX           |
| C000066840 | Victory Core Plus Intermediate Bond Fund Institutional Shares | UIITX           |
| C000175750 | Victory Core Plus Intermediate Bond Fund Class R6             | URIBX           |
| C000220613 | Victory Core Plus Intermediate Bond Fund Class A              | UITBX           |
| C000220614 | Victory Core Plus Intermediate Bond Fund Class C              | UITCX           |

### Victory Money Market Fund (Formerly USAA Money Market Fund) (Series ID: S000012906)

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

### Victory Nasdaq-100 Index Fund (Formerly USAA Nasdaq-100 Index Fund) (Series ID: S000012907)

| Class ID   | Class Name                                         | Ticker Symbol   |
|:---|:---|:---|
| C000034876 | Victory Nasdaq-100 Index Fund Shares               | USNQX           |
| C000179381 | Victory Nasdaq-100 Index Fund Class R6             | URNQX           |
| C000220618 | Victory Nasdaq-100 Index Fund Class A              | UANQX           |
| C000220619 | Victory Nasdaq-100 Index Fund Institutional Shares | UINQX           |
| C000220620 | Victory Nasdaq-100 Index Fund Class C              | UCNQX           |

### Victory Science & Technology Fund (Formerly USAA Science & Technology Fund) (Series ID: S000012911)

| Class ID   | Class Name                                | Ticker Symbol   |
|:---|:---|:---|
| C000034880 | Victory Science & Technology Fund Shares  | USSCX           |
| C000220624 | Victory Science & Technology Fund Class A | USTCX           |

### Victory Short-Term Bond Fund (Formerly USAA Short-Term Bond Fund) (Series ID: S000012913)

| Class ID   | Class Name                                        | Ticker Symbol   |
|:---|:---|:---|
| C000034882 | Victory Short-Term Bond Fund Shares               | USSBX           |
| C000066843 | Victory Short-Term Bond Fund Institutional Shares | UISBX           |
| C000175751 | Victory Short-Term Bond Fund Class R6             | URSBX           |
| C000220627 | Victory Short-Term Bond Fund Class A              | UASBX           |

### Victory Small Cap Stock Fund (Formerly USAA Small Cap Stock Fund) (Series ID: S000012914)

| Class ID   | Class Name                                        | Ticker Symbol   |
|:---|:---|:---|
| C000034883 | Victory Small Cap Stock Fund Shares               | USCAX           |
| C000066844 | Victory Small Cap Stock Fund Institutional Shares | UISCX           |

### Victory 500 Index Fund (Formerly USAA 500 Index Fund) (Series ID: S000012915)

| Class ID   | Class Name                           | Ticker Symbol   |
|:---|:---|:---|
| C000034884 | Victory 500 Index Fund Member Shares | USSPX           |
| C000034885 | Victory 500 Index Fund Reward Shares | USPRX           |

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

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

### Victory Capital Growth Fund (Formerly USAA Capital Growth Fund) (Series ID: S000012925)

| Class ID   | Class Name                                       | Ticker Symbol   |
|:---|:---|:---|
| C000034895 | Victory Capital Growth Fund Shares               | USCGX           |
| C000159209 | Victory Capital Growth Fund Institutional Shares | UICGX           |

### Victory Extended Market Index Fund (Formerly USAA Extended Market Index Fund) (Series ID: S000012941)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000034943 | Victory Extended Market Index Fund | USMIX           |

### Victory Global Managed Volatility Fund (Formerly USAA Global Managed Volatility Fund) (Series ID: S000022882)

| Class ID   | Class Name                                                  | Ticker Symbol   |
|:---|:---|:---|
| C000066372 | Victory Global Managed Volatility Fund Institutional Shares | UGOFX           |
| C000129296 | Victory Global Managed Volatility Fund Shares               | UGMVX           |

### Victory Target Retirement Income Fund (Formerly USAA Target Retirement Income Fund) (Series ID: S000022883)

| Class ID   | Class Name                            | Ticker Symbol   |
|:---|:---|:---|
| C000066373 | Victory Target Retirement Income Fund | URINX           |

### Victory Target Retirement 2030 Fund (Formerly USAA Target Retirement 2030 Fund) (Series ID: S000022885)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000066375 | Victory Target Retirement 2030 Fund | URTRX           |

### Victory Target Retirement 2040 Fund (Formerly USAA Target Retirement 2040 Fund) (Series ID: S000022886)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000066376 | Victory Target Retirement 2040 Fund | URFRX           |

### Victory Target Retirement 2050 Fund (Formerly USAA Target Retirement 2050 Fund) (Series ID: S000022887)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000066377 | Victory Target Retirement 2050 Fund | URFFX           |

### Victory Ultra Short-Term Bond Fund (Formerly USAA Ultra Short-Term Bond Fund) (Series ID: S000030169)

| Class ID   | Class Name                                              | Ticker Symbol   |
|:---|:---|:---|
| C000092834 | Victory Ultra Short-Term Bond Fund Shares               | UUSTX           |
| C000130753 | Victory Ultra Short-Term Bond Fund Institutional Shares | UUSIX           |
| C000179382 | Victory Ultra Short-Term Bond Fund Class R6             | URUSX           |
| C000220636 | Victory Ultra Short-Term Bond Fund Class A              | USBAX           |

### Victory Target Retirement 2060 Fund (Formerly USAA Target Retirement 2060 Fund) (Series ID: S000041439)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000128656 | Victory Target Retirement 2060 Fund | URSIX           |

## FORM 24F-2NT: Annual Notice of Securities Sold Pursuant to Rule 24f-2

### 24F-2NT: Filer Information

**Filer CIK:** 0000908695

**Is this a LIVE or TEST Filing?:** LIVE

**Filer Investment Company Type:** N-1A

### 24F-2NT: Annual Filing Information

**1. Name and address of issuer:**

- **Name of Issuer:** VICTORY PORTFOLIOS III

- **Address:** 15935 LA CANTERA PKWY BUILDING TWO, SAN ANTONIO, TX 78256

**2. The Name and EDGAR Identifier of each series or class of securities for which this Form is filed:**

- [ ] Check box if the Form is being filed for all series and classes of the issuer.

**3. Investment Company Act File Number:** 811-07852

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

**4(a). Last day of fiscal year for which this Form is filed:** 04/30/2025

**4(b). Check box if this Form is being filed late:** [ ]

**4(c). Check box if this is the last time the issuer will be filing this Form:** [ ]

**5. Calculation of registration fee:**

- **(i) Aggregate sale price of securities sold during the fiscal year:** $9843529674.00

- **(ii) Aggregate price of securities redeemed or repurchased during the fiscal year:** $10342480934.00

- **(iii) Aggregate price of securities redeemed or repurchased during any prior fiscal year:** $7532386572.00

- **(iv) Total available redemption credits [add Items 5(ii) and 5(iii)]:** $17874867506.00

- **(v) Net sales:** $0.00

- **(vi) Redemption credits available for use in future years:** $-8031337832.00

- **(vii) Multiplier for determining registration fee:** 0.000153100

- **(viii) Registration fee due:** $0.00

**Explanatory Notes (if any):**
N/A

**Signatures**

**Name and Title:** Carol D. Trevino, Treasurer and Principal Financial Officer

**Date:** 07/23/2025

**Signature:** /s/ Carol D. Trevino