# EDGAR Filing Document

**Accession Number:** 0000802716
**File Stem:** 0001683863-25-007174
**Filing Date:** 2025-8
**Character Count:** 4586
**Document Hash:** 7024fec7c1cb632752da42f5e74aba7b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001683863-25-007174.hdr.sgml**: 20250829

**ACCESSION NUMBER**: 0001683863-25-007174

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20250829

**DATE AS OF CHANGE**: 20250829

**EFFECTIVENESS DATE**: 20250829

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-08982
- **FILM NUMBER:** 251280640

**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 Diversified Stock Fund (Series ID: S000000787)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000002333 | Class A      | SRVEX           |
| C000002336 | Class C      | VDSCX           |
| C000002337 | Class R      | GRINX           |
| C000052113 | Class I      | VDSIX           |
| C000111270 | Class Y      | VDSYX           |
| C000138365 | Class R6     | VDSRX           |

**Victory Portfolios**

**Victory Diversified Stock Fund**

**(the "Fund")**

**Supplement dated August 29, 2025, to the Fund's**

**Summary Prospectus and Prospectus dated November 1, 2024**

Effective immediately, Michael Gura will assume sole responsibility for managing the Fund until November 1, 2025.

The Fund's investment objective, principal investment strategy, and principal risks will remain unchanged, and no action is required on your part.

Effective November 1, 2025, the following changes are made to the Summary Prospectus and Prospectus:

The information under the heading "Management of the Fund" on page 6 of the Summary Prospectus and Prospectus is deleted in its entirety and replaced with the following:

**Investment Adviser**

Victory Capital Management Inc. (the "Adviser") serves as the Fund's investment adviser. The portfolio managers, who are jointly and primarily responsible for the day-to-day management of the Fund, are members of the Adviser's Victory Solutions platform.

**Portfolio Management**

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Title** | **Tenure with the Fund** |
|  | Senior Portfolio Manager and |  |
|  | Head of Portfolio Management, |  |
|  Lance Humphrey, CFA | VictoryShares and Solutions | Since November 2025 |
|  | Portfolio Manager, VictoryShares |  |
|  Elie J. Masri | and Solutions | Since November 2025 |

---

The information in the third paragraph under the heading "Organization and Management of the Fund – The Investment Adviser" on page 13 of the Prospectus is deleted in its entirety and replaced with the following:

The Adviser is a diversified global asset manager comprised of multiple investment teams, referred to as investment franchises, each of which employs an independent approach to investing. The Adviser's Victory Solutions platform is responsible for the day-to-day investment management of the Fund.

The information under the heading "Organization and Management of the Fund – Portfolio Management" on page

13 of the Prospectus is deleted in its entirety and replaced with the following:

**Lance Humphrey,** CFA, Senior Portfolio Manager and Head of Portfolio Management, VictoryShares and Solutions, has co-managed the Fund since November 2025. Mr. Humphrey has 17 years of investment management experience, 12 of which were with USAA Asset Management Company ("AMCO"), which Victory Capital acquired in 2019. He holds the Chartered Financial Analyst ("CFA") designation and is a member of the CFA Society of San Antonio.

**Elie Masri**, Portfolio Manager, VictoryShares and Solutions, has co-managed the Fund since November 2025. Mr. Masri joined Victory Capital in 2008 from Deutsche Asset Management and has over 20 years of investment experience. Education: B.B.A. in finance from Baruch College and an M.S. in quantitative methods and modeling from the Zicklin School of Business at Baruch College.

\* \* \* \*

If you wish to obtain more information, please call the Victory Funds at 800-539-3863.

**PLEASE RETAIN THIS SUPPLEMENT FOR YOUR FUTURE REFERENCE.**