# EDGAR Filing Document

**Accession Number:** 0000802716
**File Stem:** 0001752724-23-041020
**Filing Date:** 2023-2
**Character Count:** 33116
**Document Hash:** 26c922d9034bd925b50a7a79b501cd1b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-041020.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001752724-23-041020

**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**: 20230630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VICTORY PORTFOLIOS
- **CENTRAL INDEX KEY:** 0000802716
- **IRS NUMBER:** 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:** 23670805

**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 Special Value Fund (Series ID: S000000801)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000002358 | Class A      | SSVSX           |
| C000002359 | Class C      | VSVCX           |
| C000002360 | Class R      | VSVGX           |
| C000052117 | Class I      | VSPIX           |
| C000111276 | Class Y      | VSVYX           |

## 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:** 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 Special Value Fund

- **b. EDGAR series identifier (if any):** S000000801

- **c. LEI of Series:** 549300D22DIYZ0J0P974

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

- **a. Date of fiscal year-end:** 2023-06-30

- **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:** $38991237.04

**Total Liabilities:** $766369.96

**Net Assets:** $38224867.08

**Cash Not Reported:** $1213835.59

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000052117 | 9.80%                | 3.44%                | -6.41%               |
| Class ID C000002360 | 9.73%                | 3.42%                | -6.49%               |
| Class ID C000111276 | 9.74%                | 3.47%                | -6.43%               |
| Class ID C000002358 | 9.75%                | 3.44%                | -6.43%               |
| Class ID C000002359 | 9.67%                | 3.36%                | -6.50%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-512349.58              | $4148706.12                                |
| Month 2  | $660706.85               | $699831.93                                 |
| Month 3  | $-30444.34               | $-2650919.44                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ULTA BEAUTY, INC.                   | ULTA BEAUTY INC                   | CUSIP: 90384S303<br>LEI: 529900CIV6HN8M28YM82 | Long             | EC               | CORP              | US        |       488 | NS      | $228906.16    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| VERRA MOBILITY CORPORATION          | VERRA MOBILITY CORP               | CUSIP: 92511U102<br>LEI: 549300XX5EKGLR0M4152 | Long             | EC               | CORP              | US        |     23701 | NS      | $327784.83    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Chubb Limited                       | CHUBB LIMITED                     | CUSIP: H1467J104<br>LEI: E0JAN6VLUDI1HITHT809 | Long             | EC               | CORP              | CH        |      2935 | NS      | $647461.00    | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| GXO LOGISTICS, INC.                 | GXO LOGISTICS INC                 | CUSIP: 36262G101<br>LEI: 5493007CNWMXN78JRN66 | Long             | EC               | CORP              | US        |      9947 | NS      | $424637.43    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITEDHEALTH GROUP INCORPORATED     | UNITEDHEALTH GROUP INC            | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |      1504 | NS      | $797390.72    | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| BRUNSWICK CORPORATION               | BRUNSWICK CORP                    | CUSIP: 117043109<br>LEI: YM4O38W15AX4YLLQKU27 | Long             | EC               | CORP              | US        |      4625 | NS      | $333370.00    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA CORPORATION                  | NVIDIA CORP                       | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |      2496 | NS      | $364765.44    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Pepsico, Inc.                       | PEPSICO INC                       | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |      3048 | NS      | $550651.68    | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| RAYTHEON TECHNOLOGIES CORPORATION   | RAYTHEON TECHNOLOGIES             | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |      2004 | NS      | $202243.68    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| CHART INDUSTRIES, INC.              | CHART INDUSTRIES INC              | CUSIP: 16115Q308<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | EC               | CORP              | US        |      2393 | NS      | $275745.39    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| ELEVANCE HEALTH, INC.               | ELEVANCE HEALTH INC               | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |      1274 | NS      | $653523.78    | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| SUMMIT MATERIALS, INC.              | SUMMIT MATERIALS INC CLASS A      | CUSIP: 86614U100<br>LEI: 549300XNOLX5GIOSO108 | Long             | EC               | CORP              | US        |     10398 | NS      | $295199.22    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Clearfield, Inc.                    | CLEARFIELD INC                    | CUSIP: 18482P103<br>LEI: 529900M4S2OQ1ADPR537 | Long             | EC               | CORP              | US        |      1952 | NS      | $183761.28    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| BROADCOM INC.                       | BROADCOM INC                      | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |      1378 | NS      | $770481.14    | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| CHIPOTLE MEXICAN GRILL, INC.        | CHIPOTLE MEXICAN GRILL INC        | CUSIP: 169656105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       273 | NS      | $378784.77    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| FABRINET                            | FABRINET                          | CUSIP: G3323L100<br>LEI: 5493004TETZ6IYF7CV44 | Long             | EC               | CORP              | KY        |      4365 | NS      | $559680.30    | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| ASBURY AUTOMOTIVE GROUP, INC.       | ASBURY AUTOMOTIVE GROUP INC       | CUSIP: 043436104<br>LEI: 549300JH4DTA7U42GL91 | Long             | EC               | CORP              | US        |      2208 | NS      | $395784.00    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| STRYKER CORPORATION                 | STRYKER CORP                      | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |       799 | NS      | $195347.51    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR S&P 500 ETF Trust              | SPDR S P 500 ETF TRUST            | CUSIP: 78462F103<br>LEI: N/A                  | Long             |  | RF                | US        |      2775 | NS      | $1061243.25   | 2.78%             |  |  |  | No            |                  1 | On Loan: No      |
| WALMART INC.                        | WALMART INC                       | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |      2636 | NS      | $373758.44    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| TESLA, INC.                         | TESLA INC                         | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |      1267 | NS      | $156069.06    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| BJ'S WHOLESALE CLUB HOLDINGS, INC.  | BJ S WHOLESALE CLUB HOLDINGS INC  | CUSIP: 05550J101<br>LEI: 549300UCIWH1C93V0J03 | Long             | EC               | CORP              | US        |      5641 | NS      | $373208.56    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| SIMON PROPERTY GROUP, INC.          | SIMON PROPERTY GROUP INC          | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |      2762 | NS      | $324479.76    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| THE ENSIGN GROUP, INC.              | ENSIGN GROUP INC THE              | CUSIP: 29358P101<br>LEI: 5493003K4HEEA8Q0BC72 | Long             | EC               | CORP              | US        |      4281 | NS      | $405025.41    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| THE CHARLES SCHWAB CORPORATION      | THE CHARLES SCHWAB CORP           | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |      7498 | NS      | $624283.48    | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Philip Morris International Inc.    | PHILIP MORRIS INTERNATIONAL INC   | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |      5735 | NS      | $580439.35    | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXSTAR MEDIA GROUP, INC.           | NEXSTAR MEDIA GROUP INC           | CUSIP: 65336K103<br>LEI: 52990083ZRR5UT591988 | Long             | EC               | CORP              | US        |      2827 | NS      | $494809.81    | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| MARTEN TRANSPORT, LTD.              | MARTEN TRANS LTD                  | CUSIP: 573075108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13069 | NS      | $258504.82    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| OLD DOMINION FREIGHT LINE, INC.     | OLD DOMINION FREIGHT LINE INC     | CUSIP: 679580100<br>LEI: 5299009TWK32WE417T96 | Long             | EC               | CORP              | US        |       847 | NS      | $240361.66    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| WORLD WRESTLING ENTERTAINMENT, INC. | WORLD WRESTLING ENTERTAINMENT INC | CUSIP: 98156Q108<br>LEI: 549300WZVLSCS3L4L698 | Long             | EC               | CORP              | US        |      7006 | NS      | $480051.12    | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| BUILDERS FIRSTSOURCE, INC.          | BUILDERS FIRSTSOURCE INC          | CUSIP: 12008R107<br>LEI: 549300W0SKP6L3H7DP63 | Long             | EC               | CORP              | US        |      3887 | NS      | $252188.56    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| GROUP 1 AUTOMOTIVE, INC.            | GROUP 1 AUTOMOTIVE INC            | CUSIP: 398905109<br>LEI: 549300US8QAZJLWYAF63 | Long             | EC               | CORP              | US        |      1995 | NS      | $359838.15    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO.                | JPMORGAN CHASE CO                 | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      2621 | NS      | $351476.10    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| VALLEY NATIONAL BANCORP             | VALLEY NATIONAL BANCORP           | CUSIP: 919794107<br>LEI: 549300ET52S1UBIB9762 | Long             | EC               | CORP              | US        |     18616 | NS      | $210546.96    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| MICROSOFT CORPORATION               | MICROSOFT CORP                    | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      6570 | NS      | $1575617.40   | 4.12%             |  |  |  | No            |                  1 | On Loan: No      |
| PFIZER INC.                         | PFIZER INC                        | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |      9643 | NS      | $494107.32    | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCK & CO., INC.                   | MERCK CO INC                      | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |      3752 | NS      | $416284.40    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| CIGNA CORPORATION                   | CIGNA CORP                        | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |      1922 | NS      | $636835.48    | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Schlumberger N.V.                   | SCHLUMBERGER LTD                  | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | CW        |      8501 | NS      | $454463.46    | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| BOX, INC.                           | BOX INC CLASS A                   | CUSIP: 10316T104<br>LEI: 549300KQUCPD8687YS68 | Long             | EC               | CORP              | US        |      4691 | NS      | $146030.83    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| MCKESSON CORPORATION                | MCKESSON CORP                     | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |       626 | NS      | $234825.12    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| PERFORMANCE FOOD GROUP COMPANY      | PERFORMANCE FOOD GROUP CO         | CUSIP: 71377A103<br>LEI: 549300EUK8GR9IT1YK57 | Long             | EC               | CORP              | US        |      7687 | NS      | $448843.93    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| MATADOR RESOURCES COMPANY           | MATADOR RESOURCES CO              | CUSIP: 576485205<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | EC               | CORP              | US        |      4813 | NS      | $275496.12    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| HUNTINGTON INGALLS INDUSTRIES, INC. | HUNTINGTON INGALLS INDUSTRIES INC | CUSIP: 446413106<br>LEI: 5TZLZ6WJTBVJ0QWBG121 | Long             | EC               | CORP              | US        |       865 | NS      | $199538.20    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| CADENCE DESIGN SYSTEMS, INC.        | CADENCE DESIGN SYSTEMS INC        | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |      3705 | NS      | $595171.20    | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERACTIVE BROKERS GROUP, INC.     | INTERACTIVE BROKERS GROUP INC     | CUSIP: 45841N107<br>LEI: 5493004DT6DCDUZNDM53 | Long             | EC               | CORP              | US        |      8090 | NS      | $585311.50    | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| SKYLINE CHAMPION CORPORATION        | SKYLINE CHAMPION CORP             | CUSIP: 830830105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6786 | NS      | $349546.86    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLIED MATERIALS, INC.             | APPLIED MATERIALS INC             | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |      1830 | NS      | $178205.40    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| SIGNATURE BANK                      | SIGNATURE BANK NEW YORK NY        | CUSIP: 82669G104<br>LEI: VLP5AP0XK2GM6GKD1007 | Long             | EC               | CORP              | US        |      1823 | NS      | $210046.06    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| HALLIBURTON COMPANY                 | HALLIBURTON CO                    | CUSIP: 406216101<br>LEI: ENYF8GB5SMQZ25S06U51 | Long             | EC               | CORP              | US        |     14158 | NS      | $557117.30    | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| ADVANCED MICRO DEVICES, INC.        | ADVANCED MICRO DEVICES INC        | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |      3315 | NS      | $214712.55    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| WESCO INTERNATIONAL, INC.           | WESCO INTERNATIONAL               | CUSIP: 95082P105<br>LEI: 529900TXOGREY3WNJ434 | Long             | EC               | CORP              | US        |      1714 | NS      | $214592.80    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG RESOURCES, INC.                 | EOG RESOURCES INC                 | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |      2252 | NS      | $291679.04    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| CLEAN HARBORS, INC.                 | CLEAN HARBORS INC                 | CUSIP: 184496107<br>LEI: 5493000SJVZVZJKHJF48 | Long             | EC               | CORP              | US        |      4641 | NS      | $529630.92    | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| JABIL INC.                          | JABIL INC                         | CUSIP: 466313103<br>LEI: 5493000CGCQY2OQU7669 | Long             | EC               | CORP              | US        |      7959 | NS      | $542803.80    | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| SERVISFIRST BANCSHARES, INC.        | SERVISFIRST BANCSHARES INC        | CUSIP: 81768T108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6378 | NS      | $439507.98    | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| DIAMONDBACK ENERGY, INC.            | DIAMONDBACK ENERGY INC            | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |      2677 | NS      | $366160.06    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| NMI HOLDINGS, INC.                  | NMI HOLDINGS INC                  | CUSIP: 629209305<br>LEI: 529900KNNGFXJX1C3Z08 | Long             | EC               | CORP              | US        |     20777 | NS      | $434239.30    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERISOURCEBERGEN CORPORATION       | AMERISOURCEBERGEN CORP            | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |      2461 | NS      | $407812.31    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| VISA INC.                           | VISA INC CLASS A                  | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      1973 | NS      | $409910.48    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| REGENERON PHARMACEUTICALS, INC.     | REGENERON PHARMACEUTICALS INC     | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |       375 | NS      | $270558.75    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| ICON PUBLIC LIMITED COMPANY         | ICON PLC                          | CUSIP: G4705A100<br>LEI: 6354008SRQGEMC4XFI67 | Long             | EC               | CORP              | IE        |      2571 | NS      | $499416.75    | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| AXOS FINANCIAL, INC.                | AXOS FINANCIAL INC                | CUSIP: 05465C100<br>LEI: 529900D8M56422GK9O25 | Long             | EC               | CORP              | US        |      5409 | NS      | $206731.98    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN TOWER CORPORATION          | AMERICAN TOWER CORP REIT          | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |      1088 | NS      | $230503.68    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| AGCO CORPORATION                    | AGCO CORP                         | CUSIP: 001084102<br>LEI: LYOM0B2GCF1JWXK5ZG04 | Long             | EC               | CORP              | US        |      3075 | NS      | $426471.75    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| MCDONALD'S CORPORATION              | MCDONALD S CORP                   | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |       814 | NS      | $214513.42    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| MICROCHIP TECHNOLOGY INCORPORATED   | MICROCHIP TECHNOLOGY INC          | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |      7734 | NS      | $543313.50    | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| ON SEMICONDUCTOR CORPORATION        | ON SEMICONDUCTOR CORP             | CUSIP: 682189105<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | EC               | CORP              | US        |      5415 | NS      | $337733.55    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| THE BANCORP, INC.                   | BANCORP INC THE                   | CUSIP: 05969A105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13954 | NS      | $396014.52    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| DARLING INGREDIENTS INC.            | DARLING INGREDIENTS INC           | CUSIP: 237266101<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | EC               | CORP              | US        |      7971 | NS      | $498904.89    | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM INCORPORATED               | QUALCOMM INC                      | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |      1691 | NS      | $185908.54    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| ARISTA NETWORKS, INC.               | ARISTA NETWORKS INC               | CUSIP: 040413106<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |      3161 | NS      | $383587.35    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| AMAZON.COM, INC.                    | AMAZON COM INC                    | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |      3758 | NS      | $315672.00    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORPORATION         | BANK OF AMERICA CORP              | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |      6747 | NS      | $223460.64    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBE LIFE INC.                     | GLOBE LIFE INC                    | CUSIP: 37959E102<br>LEI: 5493001JFHKQOPP6XA71 | Long             | EC               | CORP              | US        |      3483 | NS      | $419875.65    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLE INC.                          | APPLE INC                         | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     11623 | NS      | $1510176.39   | 3.95%             |  |  |  | No            |                  1 | On Loan: No      |
| GRAPHIC PACKAGING HOLDING COMPANY   | GRAPHIC PACKAGING HOLDING CO      | CUSIP: 388689101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16303 | NS      | $362741.75    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY                      | MORGAN STANLEY                    | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |      4265 | NS      | $362610.30    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| MERITAGE HOMES CORPORATION          | MERITAGE CORPORATION              | CUSIP: 59001A102<br>LEI: 52990044W9UMFJO2FB97 | Long             | EC               | CORP              | US        |      2356 | NS      | $217223.20    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Customers Bancorp, Inc.             | CUSTOMERS BANCORP INC             | CUSIP: 23204G100<br>LEI: 549300WLBCHYKZ53FN68 | Long             | EC               | CORP              | US        |      4815 | NS      | $136457.10    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| TEXAS ROADHOUSE, INC.               | TEXAS ROADHOUSE INC               | CUSIP: 882681109<br>LEI: 5299002Y1CNRPDGXTQ75 | Long             | EC               | CORP              | US        |      2421 | NS      | $220189.95    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| UFP INDUSTRIES, INC.                | UFP INDUSTRIES INC                | CUSIP: 90278Q108<br>LEI: 5493007KB485C9OV5572 | Long             | EC               | CORP              | US        |      4927 | NS      | $390464.75    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| LOWE'S COMPANIES, INC.              | LOWE S COS INC                    | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |      1127 | NS      | $224543.48    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| WESTERN ALLIANCE BANCORPORATION     | WESTERN ALLIANCE BANCORP          | CUSIP: 957638109<br>LEI: 5493003VJXZ5JXT9S762 | Long             | EC               | CORP              | US        |      5435 | NS      | $323708.60    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| ALPHABET INC.                       | ALPHABET INC CLASS C              | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     11694 | NS      | $1037608.62   | 2.71%             |  |  |  | No            |                  1 | On Loan: No      |
| THE WALT DISNEY COMPANY             | WALT DISNEY CO THE                | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |      2283 | NS      | $198347.04    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| MAGNOLIA OIL & GAS CORPORATION      | MAGNOLIA OIL GAS CORP             | CUSIP: 559663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16492 | NS      | $386737.40    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CHEVRON CORPORATION                 | CHEVRON CORP                      | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3923 | NS      | $704139.27    | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| THERMO FISHER SCIENTIFIC INC.       | THERMO FISHER SCIENTIFIC INC      | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |       660 | NS      | $363455.40    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERIPRISE FINANCIAL, INC.          | AMERIPRISE FINANCIAL INC          | CUSIP: 03076C106<br>LEI: 6ZLKQF7QB6JAEKQS5388 | Long             | EC               | CORP              | US        |      1826 | NS      | $568561.62    | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| LPL FINANCIAL HOLDINGS INC.         | LPL FINANCIAL HOLDINGS INC        | CUSIP: 50212V100<br>LEI: 549300XROQ4Y8G2L7682 | Long             | EC               | CORP              | US        |       856 | NS      | $185041.52    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

**Name of Applicant:** Victory Portfolios

**Signature:** Allan Shaer

**Name of Signer:** Allan Shaer

**Title:** Treasurer