# EDGAR Filing Document

**Accession Number:** 0001068663
**File Stem:** 0001752724-23-041271
**Filing Date:** 2023-2
**Character Count:** 19864
**Document Hash:** d5e91269a39a10a2745b4780078d8726
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-041271.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001752724-23-041271

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230227

**DATE AS OF CHANGE**: 20230227

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VICTORY VARIABLE INSURANCE FUNDS
- **CENTRAL INDEX KEY:** 0001068663
- **IRS NUMBER:** 311620154
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08979
- **FILM NUMBER:** 23671066

**BUSINESS ADDRESS:**
- **STREET 1:** 4900 TIEDEMAN ROAD
- **CITY:** BROOKLYN
- **STATE:** OH
- **ZIP:** 44144
- **BUSINESS PHONE:** 8005393863

**MAIL ADDRESS:**
- **STREET 1:** 4900 TIEDEMAN ROAD
- **CITY:** BROOKLYN
- **STATE:** OH
- **ZIP:** 44144

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VICTORY VARIABLE FUNDS
- **DATE OF NAME CHANGE:** 19980819

## Series and Classes Contracts Data

### Victory RS Large Cap Alpha VIP Series (Series ID: S000053584)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000168420 | Class I      |  |

## 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 Variable Insurance Funds

- **b. Investment Company Act file number:** 811-08979

- **c. CIK number of Registrant:** 0001068663

- **d. LEI of Registrant:** 549300PUY11D0HHITF56

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 4900 Tiedeman Road 4th Floor

  - **City:** Brooklyn

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 44144

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

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

- **a. Name of Series:** Victory RS Large Cap Alpha VIP Series

- **b. EDGAR series identifier (if any):** S000053584

- **c. LEI of Series:** 5493008RHXNK4Q8EOF80

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

- **a. Date of fiscal year-end:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $777927325.47

**Total Liabilities:** $781210.41

**Net Assets:** $777146115.06

**Cash Not Reported:** $22879854.58

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000168420 | 10.00%               | 4.19%                | -3.68%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1795098.12             | $74460723.91                               |
| Month 2  | $-714387.38              | $32589936.16                               |
| Month 3  | $-4411313.85             | $-27088522.18                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| GLOBAL PAYMENTS INC.                         | GLOBAL PAYMENTS INC                        | CUSIP: 37940X102<br>LEI: 549300NOMHGVQBX6S778 | Long             | EC               | CORP              | US        |     39220 | NS      | $3895330.40   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| MARATHON OIL CORPORATION                     | MARATHON OIL CORP                          | CUSIP: 565849106<br>LEI: 1FRVQX2CRLGC1XLP5727 | Long             | EC               | CORP              | US        |    676730 | NS      | $18319081.10  | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| LEIDOS HOLDINGS, INC.                        | LEIDOS HOLDINGS INC                        | CUSIP: 525327102<br>LEI: 549300IUTGTP6EJP8124 | Long             | EC               | CORP              | US        |    139330 | NS      | $14656122.70  | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| OVINTIV INC.                                 | OVINTIV INC                                | CUSIP: 69047Q102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    282400 | NS      | $14320504.00  | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| INVITATION HOMES INC.                        | INVITATION HOMES INC                       | CUSIP: 46187W107<br>LEI: 984500FE452E665C9F85 | Long             | EC               | CORP              | US        |    369390 | NS      | $10948719.60  | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| THE PROGRESSIVE CORPORATION                  | PROGRESSIVE CORP                           | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |    222610 | NS      | $28874743.10  | 3.72%             |  |  |  | No            |                  1 | On Loan: No      |
| PPG INDUSTRIES, INC.                         | PPG INDUSTRIES INC                         | CUSIP: 693506107<br>LEI: 549300BKPEP01R3V6C59 | Long             | EC               | CORP              | US        |    107260 | NS      | $13486872.40  | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| FLEETCOR TECHNOLOGIES, INC.                  | FLEETCOR TECHNOLOGIES INC                  | CUSIP: 339041105<br>LEI: 549300DG6RR0NQSFLN74 | Long             | EC               | CORP              | US        |     47510 | NS      | $8726636.80   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| HESS CORPORATION                             | HESS CORP                                  | CUSIP: 42809H107<br>LEI: UASVRYNXNK17ULIGK870 | Long             | EC               | CORP              | US        |    101790 | NS      | $14435857.80  | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| BROWN & BROWN, INC.                          | BROWN BROWN INC                            | CUSIP: 115236101<br>LEI: 549300PC8KTJ71XKFY89 | Long             | EC               | CORP              | US        |    434640 | NS      | $24761440.80  | 3.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Cboe Global Markets, Inc.                    | CBOE GLOBAL MARKETS INC                    | CUSIP: 12503M108<br>LEI: 529900RLNSGA90UPEH54 | Long             | EC               | CORP              | US        |    195560 | NS      | $24536913.20  | 3.16%             |  |  |  | No            |                  1 | On Loan: No      |
| CIGNA CORPORATION                            | CIGNA CORP                                 | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |     56130 | NS      | $18598114.20  | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| CONSTELLATION ENERGY CORPORATION.            | CONSTELLATION ENERGY CORP                  | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |     91249 | NS      | $7866576.29   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| HUMANA INC.                                  | HUMANA INC                                 | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |     37930 | NS      | $19427366.70  | 2.50%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUITY LIFESTYLE PROPERTIES, INC.            | EQUITY LIFESTYLE PROPERTIES INC            | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               | CORP              | US        |    114200 | NS      | $7377320.00   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| L3HARRIS TECHNOLOGIES, INC.                  | L3HARRIS TECHNOLOGIES INC                  | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |     40500 | NS      | $8432505.00   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| SENSATA TECHNOLOGIES HOLDING PLC             | SENSATA TECHNOLOGIES HOLDING               | CUSIP: G8060N102<br>LEI: 529900MS7KFYCY9MS037 | Long             | EC               | CORP              | GB        |    348660 | NS      | $14078890.80  | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| ENTERPRISE PRODUCTS PARTNERS L.P.            | ENTERPRISE PRODUCTS PARTNERS LP            | CUSIP: 293792107<br>LEI: K4CDIF4M54DJZ6TB4Q48 | Long             |  | CORP              | US        |    674220 | NS      | $16262186.40  | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ALPHABET INC.                                | ALPHABET INC CLASS A                       | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    153480 | NS      | $13541540.40  | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| LAMB WESTON HOLDINGS, INC.                   | LAMB WESTON HOLDING INC                    | CUSIP: 513272104<br>LEI: 5493005SMYID1D2OY946 | Long             | EC               | CORP              | US        |    101560 | NS      | $9075401.60   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| MEDTRONIC PUBLIC LIMITED COMPANY             | MEDTRONIC PLC                              | CUSIP: G5960L103<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |    250340 | NS      | $19456424.80  | 2.50%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO.                         | JPMORGAN CHASE CO                          | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     88390 | NS      | $11853099.00  | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| MCKESSON CORPORATION                         | MCKESSON CORP                              | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |     23730 | NS      | $8901597.60   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| US FOODS HOLDING CORP.                       | US FOODS HOLDING CORP                      | CUSIP: 912008109<br>LEI: 549300UGOZSO64CFPR97 | Long             | EC               | CORP              | US        |    457130 | NS      | $15551562.60  | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ABBVIE INC.                                  | ABBVIE INC                                 | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |    138650 | NS      | $22407226.50  | 2.88%             |  |  |  | No            |                  1 | On Loan: No      |
| EATON CORPORATION PUBLIC LIMITED COMPANY     | EATON CORP PLC                             | CUSIP: G29183103<br>LEI: 549300VDIGTMXUNT7H71 | Long             | EC               | CORP              | IE        |     62960 | NS      | $9881572.00   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Mondelez International, Inc.                 | MONDELEZ INTERNATIONAL INC                 | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |    289670 | NS      | $19306505.50  | 2.48%             |  |  |  | No            |                  1 | On Loan: No      |
| MATTEL, INC.                                 | MATTEL INC                                 | CUSIP: 577081102<br>LEI: 549300VELLG24KHTJ564 | Long             | EC               | CORP              | US        |    411870 | NS      | $7347760.80   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERACTIVE BROKERS GROUP, INC.              | INTERACTIVE BROKERS GROUP INC              | CUSIP: 45841N107<br>LEI: 5493004DT6DCDUZNDM53 | Long             | EC               | CORP              | US        |    270400 | NS      | $19563440.00  | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| DARDEN RESTAURANTS, INC.                     | DARDEN RESTAURANTS INC                     | CUSIP: 237194105<br>LEI: CY1NFSCCB5GUXC7WZC70 | Long             | EC               | CORP              | US        |     66040 | NS      | $9135313.20   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| KEURIG DR PEPPER INC.                        | KEURIG DR PEPPER INC                       | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |    438510 | NS      | $15637266.60  | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| PACCAR INC                                   | PACCAR INC                                 | CUSIP: 693718108<br>LEI: KDTEY8BWE486IKZ3CC07 | Long             | EC               | CORP              | US        |     68130 | NS      | $6742826.10   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITEDHEALTH GROUP INCORPORATED              | UNITEDHEALTH GROUP INC                     | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |     38135 | NS      | $20218414.30  | 2.60%             |  |  |  | No            |                  1 | On Loan: No      |
| ALEXANDRIA REAL ESTATE EQUITIES, INC.        | ALEXANDRIA REAL ESTATE EQUITIES INC        | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | EC               | CORP              | US        |    103380 | NS      | $15059364.60  | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| STATE STREET CORPORATION                     | STATE STREET CORP                          | CUSIP: 857477103<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EC               | CORP              | US        |    163890 | NS      | $12712947.30  | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| JOHNSON CONTROLS INTERNATIONAL PLC           | JOHNSON CONTROLS INTERNATIONAL PLC         | CUSIP: G51502105<br>LEI: 549300XQ6S1GYKGBL205 | Long             | EC               | CORP              | IE        |    237460 | NS      | $15197440.00  | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| SEALED AIR CORPORATION                       | SEALED AIR CORP                            | CUSIP: 81211K100<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | EC               | CORP              | US        |    357470 | NS      | $17830603.60  | 2.29%             |  |  |  | No            |                  1 | On Loan: No      |
| JOHNSON & JOHNSON                            | JOHNSON JOHNSON                            | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     80550 | NS      | $14229157.50  | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| FAIRFAX FINANCIAL HOLDINGS LIMITED           | FAIRFAX FINANCIAL HOLDINGS LTD             | CUSIP: 303901102<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | EC               | CORP              | CA        |     68840 | NS      | $40784827.01  | 5.25%             |  |  |  | No            |                  1 | On Loan: No      |
| LKQ CORPORATION                              | LKQ CORPORATION                            | CUSIP: 501889208<br>LEI: DS830JTTZQN6GK0I2E41 | Long             | EC               | CORP              | US        |    260690 | NS      | $13923452.90  | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| FIDELITY NATIONAL INFORMATION SERVICES, INC. | FIDELITY NATIONAL INFORMATION SERVICES INC | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | EC               | CORP              | US        |    298870 | NS      | $20278329.50  | 2.61%             |  |  |  | No            |                  1 | On Loan: No      |
| FEDEX CORPORATION                            | FEDEX CORP                                 | CUSIP: 31428X106<br>LEI: 549300E707U7WNPZN687 | Long             | EC               | CORP              | US        |     40960 | NS      | $7094272.00   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Markel Corporation                           | MARKEL CORP                                | CUSIP: 570535104<br>LEI: 549300SCNO12JLWIK605 | Long             | EC               | CORP              | US        |     26810 | NS      | $35321906.90  | 4.55%             |  |  |  | No            |                  1 | On Loan: No      |
| VISTRA CORP.                                 | VISTRA CORP                                | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |   1208609 | NS      | $28039728.80  | 3.61%             |  |  |  | No            |                  1 | On Loan: No      |
| UNION PACIFIC CORPORATION                    | UNION PACIFIC CORP                         | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |     35270 | NS      | $7303358.90   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCK & CO., INC.                            | MERCK CO INC                               | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |    226530 | NS      | $25133503.50  | 3.23%             |  |  |  | No            |                  1 | On Loan: No      |
| EXELON CORPORATION                           | EXELON CORP                                | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |    320600 | NS      | $13859538.00  | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| RAYTHEON TECHNOLOGIES CORPORATION            | RAYTHEON TECHNOLOGIES                      | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |     91251 | NS      | $9209050.92   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-30

**Name of Applicant:** Victory Variable Insurance Funds

**Signature:** Allan Shaer

**Name of Signer:** Allan Shaer

**Title:** Treasurer