# EDGAR Filing Document

**Accession Number:** 0000802716
**File Stem:** 0001004726-25-002225
**Filing Date:** 2025-11
**Character Count:** 29702
**Document Hash:** b3d9d5c93f6330fb31ce89d62eadf51a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001004726-25-002225.hdr.sgml**: 20251125

**ACCESSION NUMBER**: 0001004726-25-002225

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251125

**DATE AS OF CHANGE**: 20251125

**PERIOD START**: 20251231

**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:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04852
- **FILM NUMBER:** 251520307

**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 RS Science and Technology Fund (Series ID: S000053582)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000168412 | Class A      | RSIFX           |
| C000168413 | Class C      | RINCX           |
| C000168415 | Class Y      | RIFYX           |

## 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:** 15935 La Cantera Parkway Building Two

  - **City:** San Antonio

  - **State:** TX

  - **Foreign country:** US

  - **Zip / Postal Code:** 78256

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

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

- **a. Name of Series:** Victory RS Science & Technology Fund

- **b. EDGAR series identifier (if any):** S000053582

- **c. LEI of Series:** 549300YNZR8S7NDWVW17

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**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:** $219968508.67

**Total Liabilities:** $2083723.82

**Net Assets:** $217884784.85

**Cash Not Reported:** $405082.19

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000168412 | 2.87%                | 1.69%                | 5.88%                |
| Class ID C000168415 | 2.86%                | 1.74%                | 5.88%                |
| Class ID C000168413 | 2.82%                | 1.63%                | 5.81%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1648660.56              | $4330394.68                                |
| Month 2  | $1716305.31              | $1957774.74                                |
| Month 3  | $5508326.99              | $6901304.18                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Samsara Inc                                    | SAMSARA INC                        | CUSIP: 79589L106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15690 | NS      | $584452.50    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| AEHR TEST SYSTEMS                              | AEHR TEST SYSTEMS                  | CUSIP: 00760J108<br>LEI: 529900A4GWWZFRU2RE97 | Long             | EC               | CORP              | US        |     69540 | NS      | $2093849.40   | 0.96%             |  |  |  | No            |                  1 | On Loan: —       |
| CAMP4 Therapeutics Corp                        | CAMP4 THERAPEUTICS CORP            | CUSIP: 13463J101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     59270 | NS      | $177810.00    | 0.08%             |  |  |  | No            |                  1 | On Loan: —       |
| AMAZON.COM, INC.                               | AMAZON COM INC                     | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     39970 | NS      | $8776212.90   | 4.03%             |  |  |  | No            |                  1 | On Loan: No      |
| BRIDGEBIO PHARMA, INC.                         | BRIDGEBIO PHARMA INC               | CUSIP: 10806X102<br>LEI: 54930028YG89VTY2J114 | Long             | EC               | CORP              | US        |     24910 | NS      | $1293825.40   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| GUARDANT HEALTH, INC.                          | GUARDANT HEALTH INC                | CUSIP: 40131M109<br>LEI: 254900M8C3E5VC8BR186 | Long             | EC               | CORP              | US        |     57770 | NS      | $3609469.60   | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLOVIN CORPORATION                           | APPLOVIN CORP                      | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |     21400 | NS      | $15376756.00  | 7.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Viridian Therapeutics Inc                      | VIRIDIAN THERAPEUTICS INC          | CUSIP: 92790C104<br>LEI: 549300C775BNYF550E70 | Long             | EC               | CORP              | US        |     64560 | NS      | $1393204.80   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| INSMED INCORPORATED                            | INSMED INC                         | CUSIP: 457669307<br>LEI: 529900Q55QAG41CCAC11 | Long             | EC               | CORP              | US        |     21970 | NS      | $3163899.70   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Disc Medicine Inc                              | DISC MEDICINE INC                  | CUSIP: 254604101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23840 | NS      | $1575347.20   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| NOVANTA INC.                                   | NOVANTA INC                        | CUSIP: 67000B104<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     10980 | NS      | $1099647.00   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| JFROG LTD                                      | JFROG LTD                          | CUSIP: M6191J100<br>LEI: 2549002N8E00AY49G567 | Long             | EC               | CORP              | IL        |     49860 | NS      | $2359873.80   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| VARONIS SYSTEMS, INC.                          | VARONIS SYSTEMS INC                | CUSIP: 922280102<br>LEI: 549300SHIVNRRH7STS26 | Long             | EC               | CORP              | US        |    110290 | NS      | $6338366.30   | 2.91%             |  |  |  | No            |                  1 | On Loan: No      |
| WIX.COM LTD                                    | WIX COM LTD                        | CUSIP: M98068105<br>LEI: 5493008P6N29Q1AG9464 | Long             | EC               | CORP              | IL        |      7230 | NS      | $1284264.90   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| SNOWFLAKE INC.                                 | SNOWFLAKE INC                      | CUSIP: 833445109<br>LEI: 254900CJNSY1K7T53Z16 | Long             | EC               | CORP              | US        |     19340 | NS      | $4362137.00   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BROADCOM INC.                                  | BROADCOM INC                       | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |      7290 | NS      | $2405043.90   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| ARISTA NETWORKS, INC.                          | ARISTA NETWORKS INC                | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |     19750 | NS      | $2877772.50   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| IMPINJ, INC.                                   | IMPINJ INC                         | CUSIP: 453204109<br>LEI: 549300M26VGKSMMWWN17 | Long             | EC               | CORP              | US        |      7690 | NS      | $1389967.50   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Crinetics Pharmaceuticals Inc                  | CRINETICS PHARMACEUTICALS INC      | CUSIP: 22663K107<br>LEI: 549300Q1CNFXK5P31D28 | Long             | EC               | CORP              | US        |     37120 | NS      | $1546048.00   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Ultragenyx Pharmaceutical Inc                  | ULTRAGENYX PHARMACEUTICAL INC      | CUSIP: 90400D108<br>LEI: 529900EV44GVDN1DCX77 | Long             | EC               | CORP              | US        |     26900 | NS      | $809152.00    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| THE TRADE DESK, INC.                           | THE TRADE DESK INC CLASS A         | CUSIP: 88339J105<br>LEI: 549300GXPD31VT3E0P46 | Long             | EC               | CORP              | US        |     15010 | NS      | $735640.10    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA CORPORATION                             | NVIDIA CORP                        | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |    118420 | NS      | $22094803.60  | 10.14%            |  |  |  | No            |                  1 | On Loan: No      |
| Twist Bioscience Corp                          | TWIST BIOSCIENCE CORP              | CUSIP: 90184D100<br>LEI: 549300T23BL59LCOH584 | Long             | EC               | CORP              | US        |     21720 | NS      | $611200.80    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| MoonLake Immunotherapeutics                    | MOONLAKE IMMUNOTHERAPEUTICS        | CUSIP: 61559X104<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     18790 | NS      | $134724.30    | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| META PLATFORMS, INC.                           | META PLATFORMS INC                 | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     24000 | NS      | $17625120.00  | 8.09%             |  |  |  | No            |                  1 | On Loan: No      |
| DYNATRACE, INC.                                | DYNATRACE INC                      | CUSIP: 268150109<br>LEI: 6488T0Z33CE9L61EX904 | Long             | EC               | CORP              | US        |     32600 | NS      | $1579470.00   | 0.72%             |  |  |  | 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        |    453346 | NS      | $453346.03    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| MARVELL TECHNOLOGY, INC.                       | MARVELL TECHNOLOGY INC             | CUSIP: 573874104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     42340 | NS      | $3559523.80   | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| CONFLUENT, INC.                                | CONFLUENT INC                      | CUSIP: 20717M103<br>LEI: 254900MRZ83YWUV7SN74 | Long             | EC               | CORP              | US        |     82330 | NS      | $1630134.00   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| ELI LILLY AND COMPANY                          | ELI LILLY CO                       | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |      2910 | NS      | $2220330.00   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| FAIR ISAAC CORPORATION                         | FAIR ISAAC CORP                    | CUSIP: 303250104<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | EC               | CORP              | US        |      1280 | NS      | $1915558.40   | 0.88%             |  |  |  | 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        |    453346 | NS      | $453346.03    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| TRIMBLE INC.                                   | TRIMBLE INC                        | CUSIP: 896239100<br>LEI: 549300E2MI7NSZFQWS19 | Long             | EC               | CORP              | US        |     29570 | NS      | $2414390.50   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Zymeworks Inc                                  | ZYMEWORKS INC                      | CUSIP: 98985Y108<br>LEI: 894500AHOYAGYLYZJL67 | Long             | EC               | CORP              | US        |     21570 | NS      | $368415.60    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| MICROSOFT CORPORATION                          | MICROSOFT CORP                     | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     34450 | NS      | $17843377.50  | 8.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Protagonist Therapeutics Inc                   | PROTAGONIST THERAPEUTICS INC       | CUSIP: 74366E102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20140 | NS      | $1337900.20   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| SYNOPSYS, INC.                                 | SYNOPSYS INC                       | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | EC               | CORP              | US        |      2390 | NS      | $1179202.10   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Unity Software Inc                             | UNITY SOFTWARE INC                 | CUSIP: 91332U101<br>LEI: 549300D1ESJMGNQNG432 | Long             | EC               | CORP              | US        |     24460 | NS      | $979378.40    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| MAXLINEAR, INC.                                | MAXLINEAR INC                      | CUSIP: 57776J100<br>LEI: 549300EMOI0SM2IY4F64 | Long             | EC               | CORP              | US        |    138110 | NS      | $2220808.80   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Credo Technology Group Holding Ltd             | CREDO TECHNOLOGY GROUP HOLDING LTD | CUSIP: G25457105<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     26810 | NS      | $3903804.10   | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Coherent Corp.                                 | COHERENT CORP                      | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               | CORP              | US        |     29660 | NS      | $3194975.20   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Oric Pharmaceuticals Inc                       | ORIC PHARMACEUTICALS INC           | CUSIP: 68622P109<br>LEI: 54930033FJRNEYBW0L25 | Long             | EC               | CORP              | US        |     93090 | NS      | $1117080.00   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| monday.com Ltd                                 | MONDAY COM LTD                     | CUSIP: M7S64H106<br>LEI: 984500MDAFVD86E3B328 | Long             | EC               | CORP              | IL        |      4180 | NS      | $809624.20    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| COINBASE GLOBAL, INC.                          | COINBASE GLOBAL INC                | CUSIP: 19260Q107<br>LEI: 5493004G3J2SC154DU06 | Long             | EC               | CORP              | US        |      3170 | NS      | $1069843.30   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Revolution Medicines Inc                       | REVOLUTION MEDICINES INC           | CUSIP: 76155X100<br>LEI: 549300JU3X0LBCQ65892 | Long             | EC               | CORP              | US        |     39500 | NS      | $1844650.00   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| TAKE-TWO INTERACTIVE SOFTWARE, INC.            | TAKE TWO INTERACTIVE SOFTWARE      | CUSIP: 874054109<br>LEI: BOMSTHHJK882EWYX3334 | Long             | EC               | CORP              | US        |      9940 | NS      | $2568098.40   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| MONOLITHIC POWER SYSTEMS, INC.                 | MONOLITHIC POWER SYSTEMS INC       | CUSIP: 609839105<br>LEI: 529900TB7O85LSZ1XU31 | Long             | EC               | CORP              | US        |      5910 | NS      | $5440982.40   | 2.50%             |  |  |  | No            |                  1 | On Loan: No      |
| AnaptysBio Inc                                 | ANAPTYSBIO INC                     | CUSIP: 032724106<br>LEI: 529900HH4WQT03IG1A12 | Long             | EC               | CORP              | US        |     57850 | NS      | $1771367.00   | 0.81%             |  |  |  | No            |                  1 | On Loan: —       |
| Avidity Biosciences Inc                        | AVIDITY BIOSCIENCES INC            | CUSIP: 05370A108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9920 | NS      | $432214.40    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| CYBERARK SOFTWARE LTD.                         | CYBERARK SOFTWARE LTD              | CUSIP: M2682V108<br>LEI: 529900YEXNDM894PWS93 | Long             | EC               | CORP              | IL        |      6240 | NS      | $3014856.00   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| NATERA, INC.                                   | NATERA INC                         | CUSIP: 632307104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13770 | NS      | $2216556.90   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| MSILF Government Portfolio                     | MSILF GOVERNMENT-INST              | CUSIP: 61747C707<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    453346 | NS      | $453346.01    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Kymera Therapeutics Inc                        | KYMERA THERAPEUTICS INC            | CUSIP: 501575104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6880 | NS      | $389408.00    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Maplebear Inc                                  | MAPLEBEAR INC                      | CUSIP: 565394103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     34260 | NS      | $1259397.60   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| LAM RESEARCH CORPORATION                       | LAM RESEARCH CORP                  | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |     17010 | NS      | $2277639.00   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Apogee Therapeutics Inc                        | APOGEE THERAPEUTICS INC            | CUSIP: 03770N101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19580 | NS      | $777913.40    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| SERVICENOW, INC.                               | SERVICENOW INC                     | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |      6970 | NS      | $6414351.60   | 2.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Absci Corp                                     | ABSCI CORP                         | CUSIP: 00091E109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     94560 | NS      | $287462.40    | 0.13%             |  |  |  | No            |                  1 | On Loan: —       |
| GitLab Inc                                     | GITLAB INC                         | CUSIP: 37637K108<br>LEI: 9845004Y40FACG81ED49 | Long             | EC               | CORP              | US        |     18900 | NS      | $852012.00    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| REDDIT INC.                                    | REDDIT INC                         | CUSIP: 75734B100<br>LEI: 529900APN1YHPBHPI679 | Long             | EC               | CORP              | US        |     13740 | NS      | $3160062.60   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| ATHENEX INC                                    | ATHENEX INC                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |   1346518 | NS      | $0.01         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Arcellx Inc                                    | ARCELLX INC                        | CUSIP: 03940C100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13470 | NS      | $1105887.00   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Merus NV                                       | MERUS NV                           | CUSIP: N5749R100<br>LEI: 549300W8GPUWU8QNU293 | Long             | EC               | CORP              | NL        |     10250 | NS      | $965037.50    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| VISA INC.                                      | VISA INC CLASS A                   | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      9410 | NS      | $3212385.80   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| FABRINET                                       | FABRINET                           | CUSIP: G3323L100<br>LEI: 5493004TETZ6IYF7CV44 | Long             | EC               | CORP              | KY        |      6040 | NS      | $2202304.80   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| STRATEGY INC                                   | STRATEGY INC                       | CUSIP: 594972408<br>LEI: 549300WQTWEJUEHXQX21 | Long             | EC               | CORP              | US        |      3480 | NS      | $1121290.80   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| NETFLIX, INC.                                  | NETFLIX INC                        | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |      6490 | NS      | $7780990.80   | 3.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Spyre Therapeutics Inc                         | SPYRE THERAPEUTICS INC             | CUSIP: 00773J202<br>LEI: 52990017AIJPRH3HQH40 | Long             | EC               | CORP              | US        |     19928 | NS      | $333993.28    | 0.15%             |  |  |  | No            |                  1 | On Loan: —       |
| Olema Pharmaceuticals Inc                      | OLEMA PHARMACEUTICALS INC          | CUSIP: 68062P106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     66230 | NS      | $648391.70    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| MACOM TECHNOLOGY SOLUTIONS HOLDINGS, INC.      | MACOM TECHNOLOGY SOLUTIONS HOL     | CUSIP: 55405Y100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     36720 | NS      | $4571272.80   | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| SEMTECH CORPORATION                            | SEMTECH CORP                       | CUSIP: 816850101<br>LEI: 549300J7WUY317SW6O61 | Long             | EC               | CORP              | US        |     58610 | NS      | $4187684.50   | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| VEEVA SYSTEMS INC.                             | VEEVA SYSTEMS INC                  | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Long             | EC               | CORP              | US        |      4230 | NS      | $1260159.30   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| VERTEX PHARMACEUTICALS INCORPORATED            | VERTEX PHARAMACEUTICALS INC        | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |      4250 | NS      | $1664470.00   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEAYA Biosciences Inc                         | IDEAYA BIOSCIENCES INC             | CUSIP: 45166A102<br>LEI: 549300ULW08F62IJML11 | Long             | EC               | CORP              | US        |     30340 | NS      | $825551.40    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| SILICON MOTION TECHNOLOGY CORPORATION          | SILICON MOTION TECHNOLOGY CORP     | CUSIP: 82706C108<br>LEI: 5299005RBVBZQJTYFC89 | Long             |  | CORP              | KY        |     19350 | NS      | $1834573.50   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Dyne Therapeutics Inc                          | DYNE THERAPEUTICS INC              | CUSIP: 26818M108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     26850 | NS      | $339652.50    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Klaviyo Inc                                    | KLAVIYO INC                        | CUSIP: 49845K101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     67810 | NS      | $1877658.90   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| INVESCO GOVERNMENT & AGENCY PORTFOLIO          | INVESCO GVT & AGNCY-INST           | CUSIP: 825252885<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    453346 | NS      | $453346.03    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-30

**Name of Applicant:** Victory Portfolios

**Signature:** Carol Trevino

**Name of Signer:** Carol Trevino

**Title:** Treasurer