# EDGAR Filing Document

**Accession Number:** 0000908695
**File Stem:** 0001683863-25-007228
**Filing Date:** 2025-9
**Character Count:** 3004
**Document Hash:** ea9188af78644f9a43ea57bf3080b041
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001683863-25-007228.hdr.sgml**: 20250902

**ACCESSION NUMBER**: 0001683863-25-007228

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20250902

**DATE AS OF CHANGE**: 20250902

**EFFECTIVENESS DATE**: 20250902

**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:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-65572
- **FILM NUMBER:** 251284793

**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 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 Portfolios III**

**Victory Core Plus Intermediate Bond Fund**

**(the "Fund")**

**Supplement dated September 2, 2025**

**to the Summary Prospectus and Prospectus dated September 1, 2025**

**Important Notice Regarding Change in Investment Policy**

**Effective November 1, 2025, the first sentence under Principal Investment Strategy on page 2 of the Summary Prospectus and Prospectus and the first sentence of the third paragraph under Additional Fund Information on page 9 of the Prospectus are revised as follows:**

Under normal circumstances, the Fund invests at least 80% of its assets in a broad range of debt securities and in derivatives and other instruments that have similar economic characteristics. The effective duration of the Fund is generally between three and 10 years.

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

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