# EDGAR Filing Document

**Accession Number:** 0000802716
**File Stem:** 0001752724-25-210067
**Filing Date:** 2025-8
**Character Count:** 29396
**Document Hash:** c6db0db1da93f12e83a913d275d4c358
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-210067.hdr.sgml**: 20250828

**ACCESSION NUMBER**: 0001752724-25-210067

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250828

**DATE AS OF CHANGE**: 20250828

**PERIOD START**: 20250630

**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:** 251268238

**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           |

## 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 Diversified Stock Fund

- **b. EDGAR series identifier (if any):** S000000787

- **c. LEI of Series:** 549300CFL88LDPQO6O73

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

- **a. Date of fiscal year-end:** 2025-06-30

- **b. Date as of which information is reported:** 2025-06-30

**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:** $346942098.73

**Total Liabilities:** $7002901.00

**Net Assets:** $339939197.73

**Cash Not Reported:** $6633527.36

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000052113 | 0.29%                | 6.61%                | 6.52%                |
| Class ID C000138365 | 0.34%                | 6.59%                | 6.50%                |
| Class ID C000002333 | 0.29%                | 6.58%                | 6.49%                |
| Class ID C000002337 | 0.20%                | 6.61%                | 6.43%                |
| Class ID C000002336 | 0.17%                | 6.57%                | 6.38%                |
| Class ID C000111270 | 0.29%                | 6.64%                | 6.46%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $574110.53               | $-179052.55                                |
| Month 2  | $58831.79                | $20007730.77                               |
| Month 3  | $4583347.95              | $16152802.46                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| JABIL INC.                                   | JABIL INC                                     | CUSIP: 466313103<br>LEI: 5493000CGCQY2OQU7669 | Long             | EC               | CORP              | US        |     27846 | NS      | $6073212.60   | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| THE GOLDMAN SACHS GROUP, INC.                | GOLDMAN SACHS GROUP INC THE                   | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |      3117 | NS      | $2206056.75   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA HEALTHCARE, INC.                         | HCA HEALTHCARE INC                            | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |     10747 | NS      | $4117175.70   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| THE BANCORP, INC.                            | BANCORP INC THE                               | CUSIP: 05969A105<br>LEI: 894500FP2ICT1B019Y71 | Long             | EC               | CORP              | US        |     25826 | NS      | $1471307.22   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| CHARTER COMMUNICATIONS, INC.                 | CHARTER COMMUNICATIONS INC                    | CUSIP: 16119P108<br>LEI: 0J0XRGZE3PBRFEZ7MV65 | Long             | EC               | CORP              | US        |      7963 | NS      | $3255354.03   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| W. R. BERKLEY CORPORATION                    | WR BERKLEY CORP                               | CUSIP: 084423102<br>LEI: SQOAGCLKBDWNVYV1OV80 | Long             | EC               | CORP              | US        |     63267 | NS      | $4648226.49   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| THE ENSIGN GROUP, INC.                       | ENSIGN GROUP INC THE                          | CUSIP: 29358P101<br>LEI: 5493003K4HEEA8Q0BC72 | Long             | EC               | CORP              | US        |     21841 | NS      | $3369192.66   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| BGC GROUP, INC.                              | BGC GROUP INC                                 | CUSIP: 088929104<br>LEI: 2549001IGRCG4F0RLD36 | Long             | EC               | CORP              | US        |    430423 | NS      | $4403227.29   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| JD.COM, INC.                                 | JD COM INC                                    | CUSIP: 47215P106<br>LEI: 549300HVTWB0GJZ16V92 | Long             |  | CORP              | KY        |     65257 | NS      | $2129988.48   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG                                  | NOVARTIS AG                                   | CUSIP: 66987V109<br>LEI: 5493007HIVTX6SY6XD66 | Long             |  | CORP              | CH        |     28773 | NS      | $3481820.73   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| AMAZON.COM, INC.                             | AMAZON COM INC                                | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     56028 | NS      | $12291982.92  | 3.62%             |  |  |  | No            |                  1 | On Loan: No      |
| PERFORMANCE FOOD GROUP COMPANY               | PERFORMANCE FOOD GROUP CO                     | CUSIP: 71377A103<br>LEI: 549300EUK8GR9IT1YK57 | Long             | EC               | CORP              | US        |     22321 | NS      | $1952417.87   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLE INC.                                   | APPLE INC                                     | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     96854 | NS      | $19871535.18  | 5.85%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG RESOURCES, INC.                          | EOG RESOURCES INC                             | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |     14192 | NS      | $1697505.12   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| TENCENT MUSIC ENTERTAINMENT GROUP            | TENCENT MUSIC ENTERTAINMENT                   | CUSIP: 88034P109<br>LEI: 213800XTZK2GOHQTYK41 | Long             |  | CORP              | KY        |    106051 | NS      | $2066933.99   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| AMPHENOL CORPORATION                         | AMPHENOL CORP CLASS A                         | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |     49528 | NS      | $4890890.00   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| ADOBE INC.                                   | ADOBE INC                                     | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |      3756 | NS      | $1453121.28   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| BAKER HUGHES COMPANY                         | BAKER HUGHES CO                               | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     50762 | NS      | $1946215.08   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA CORPORATION                              | KLA CORP                                      | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |      5771 | NS      | $5169315.54   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| VICI PROPERTIES INC.                         | VICI PROPERTIES INC                           | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |     44463 | NS      | $1449493.80   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO.                         | JPMORGAN CHASE CO                             | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     18768 | NS      | $5441030.88   | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| RALPH LAUREN CORPORATION                     | RALPH LAUREN CORP                             | CUSIP: 751212101<br>LEI: HO1QNWM0IXBZ0QSMMO20 | Long             | EC               | CORP              | US        |     12521 | NS      | $3434259.88   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| VERTEX PHARMACEUTICALS INCORPORATED          | VERTEX PHARAMACEUTICALS INC                   | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |      8043 | NS      | $3580743.60   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| FABRINET                                     | FABRINET                                      | CUSIP: G3323L100<br>LEI: 5493004TETZ6IYF7CV44 | Long             | EC               | CORP              | KY        |     15357 | NS      | $4525400.76   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| GEN DIGITAL INC.                             | GEN DIGITAL INC                               | CUSIP: 668771108<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | EC               | CORP              | US        |     65935 | NS      | $1938489.00   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co., Ltd. | TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD ADR | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             |  | CORP              | TW        |     15481 | NS      | $3506291.69   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| RAYMOND JAMES FINANCIAL, INC.                | RAYMOND JAMES FINANCIAL INC                   | CUSIP: 754730109<br>LEI: RGUZHJ05YTITL6D76949 | Long             | EC               | CORP              | US        |     20620 | NS      | $3162489.40   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| EBAY INC.                                    | EBAY INC                                      | CUSIP: 278642103<br>LEI: OML71K8X303XQONU6T67 | Long             | EC               | CORP              | US        |     61355 | NS      | $4568493.30   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| META PLATFORMS, INC.                         | META PLATFORMS INC                            | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     15268 | NS      | $11269158.12  | 3.32%             |  |  |  | No            |                  1 | On Loan: No      |
| CORPAY, INC.                                 | CORPAY INC                                    | CUSIP: 219948106<br>LEI: 549300DG6RR0NQSFLN74 | Long             | EC               | CORP              | US        |      7402 | NS      | $2456131.64   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| BROADCOM INC.                                | BROADCOM INC                                  | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     38608 | NS      | $10642295.20  | 3.13%             |  |  |  | No            |                  1 | On Loan: No      |
| EXLSERVICE HOLDINGS, INC.                    | EXLSERVICE HOLDINGS INC                       | CUSIP: 302081104<br>LEI: 81E3DTNF6OSH489ZOV15 | Long             | EC               | CORP              | US        |     41373 | NS      | $1811723.67   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| EMCOR GROUP, INC.                            | EMCOR GROUP INC                               | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               | CORP              | US        |      6885 | NS      | $3682717.65   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERIPRISE FINANCIAL, INC.                   | AMERIPRISE FINANCIAL INC                      | CUSIP: 03076C106<br>LEI: 6ZLKQF7QB6JAEKQS5388 | Long             | EC               | CORP              | US        |      5744 | NS      | $3065745.12   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| LINDE PUBLIC LIMITED COMPANY                 | NEW LINDE PLC                                 | CUSIP: G54950103<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | IE        |      3544 | NS      | $1662773.92   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| COMFORT SYSTEMS USA, INC.                    | COMFORT SYSTEMS USA INC                       | CUSIP: 199908104<br>LEI: 5299009DT1ZA5HTU6R38 | Long             | EC               | CORP              | US        |      6776 | NS      | $3633358.96   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| AUTODESK, INC.                               | AUTODESK INC                                  | CUSIP: 052769106<br>LEI: FRKKVKAIQEF3FCSTPG55 | Long             | EC               | CORP              | US        |     11033 | NS      | $3415485.81   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| CENCORA, INC.                                | CENCORA INC                                   | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |     14532 | NS      | $4357420.20   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| URBAN OUTFITTERS, INC.                       | URBAN OUTFITTERS INC                          | CUSIP: 917047102<br>LEI: 549300N3DUFR5U6NRN38 | Long             | EC               | CORP              | US        |     35058 | NS      | $2543107.32   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| CBRE GROUP, INC.                             | CBRE GROUP INC CL A                           | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |     13216 | NS      | $1851825.92   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| EXPEDIA GROUP, INC.                          | EXPEDIA GROUP INC                             | CUSIP: 30212P303<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17596 | NS      | $2968093.28   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| INGREDION INCORPORATED                       | INGREDION INC                                 | CUSIP: 457187102<br>LEI: PKSTQ48QDN0XSVS7YK88 | Long             | EC               | CORP              | US        |     30271 | NS      | $4105353.02   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES LTD.                 | ROYAL CARIBBEAN CRUISES LTD                   | CUSIP: V7780T103<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | EC               | CORP              | LR        |     17674 | NS      | $5534436.36   | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| FEDERAL SIGNAL CORPORATION                   | FEDERAL SIGNAL CORP                           | CUSIP: 313855108<br>LEI: 549300RTXZRPTNP6G884 | Long             | EC               | CORP              | US        |     44052 | NS      | $4688013.84   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA CORPORATION                           | NVIDIA CORP                                   | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |    144998 | NS      | $22908234.02  | 6.74%             |  |  |  | No            |                  1 | On Loan: No      |
| ORACLE CORPORATION                           | ORACLE CORP                                   | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |      9650 | NS      | $2109779.50   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| ARCHROCK INC.                                | ARCHROCK INC                                  | CUSIP: 03957W106<br>LEI: 549300K3RIHMHDVFTL28 | Long             | EC               | CORP              | US        |     69706 | NS      | $1730799.98   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| THE WALT DISNEY COMPANY                      | WALT DISNEY CO THE                            | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |     38033 | NS      | $4716472.33   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| ASTRAZENECA PLC                              | ASTRAZENECA PLC                               | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             |  | CORP              | GB        |     45465 | NS      | $3177094.20   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| MCKESSON CORPORATION                         | MCKESSON CORP                                 | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |      6280 | NS      | $4601858.40   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| TRANE TECHNOLOGIES PLC                       | TRANE TECHNOLOGIES PLC                        | CUSIP: G8994E103<br>LEI: 549300BURLR9SLYY2705 | Long             | EC               | CORP              | IE        |     10319 | NS      | $4513633.79   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| CASEY'S GENERAL STORES, INC.                 | CASEY S GENERAL STORES INC                    | CUSIP: 147528103<br>LEI: 549300CAFWSI86V66Q65 | Long             | EC               | CORP              | US        |      6720 | NS      | $3429014.40   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| NETFLIX, INC.                                | NETFLIX INC                                   | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |      1917 | NS      | $2567112.21   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| ONEOK, INC.                                  | ONEOK INC                                     | CUSIP: 682680103<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | EC               | CORP              | US        |     18133 | NS      | $1480196.79   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| HALOZYME THERAPEUTICS, INC.                  | HALOZYME THERAPEUTICS INC                     | CUSIP: 40637H109<br>LEI: 529900242I3SV9AGM753 | Long             | EC               | CORP              | US        |     66831 | NS      | $3476548.62   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERACTIVE BROKERS GROUP, INC.              | INTERACTIVE BROKERS GROUP INC                 | CUSIP: 45841N107<br>LEI: 5493004DT6DCDUZNDM53 | Long             | EC               | CORP              | US        |    105160 | NS      | $5826915.60   | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| QUANTA SERVICES, INC.                        | QUANTA SERVICES INC                           | CUSIP: 74762E102<br>LEI: SHVRXXEACT60MMH07S24 | Long             | EC               | CORP              | US        |     12413 | NS      | $4693107.04   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| KIRBY CORPORATION                            | KIRBY CORP                                    | CUSIP: 497266106<br>LEI: I7NO6FZO5GUCG585T325 | Long             | EC               | CORP              | US        |     33301 | NS      | $3776666.41   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| VISA INC.                                    | VISA INC CLASS A                              | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |     21121 | NS      | $7499011.05   | 2.21%             |  |  |  | No            |                  1 | On Loan: No      |
| NORWEGIAN CRUISE LINE HOLDINGS LTD.          | NORWEGIAN CRUISE LINE HOLDINGS LTD            | CUSIP: G66721104<br>LEI: N/A                  | Long             | EC               | CORP              | BM        |    100511 | NS      | $2038363.08   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| DIAMONDBACK ENERGY, INC.                     | DIAMONDBACK ENERGY INC                        | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |     11803 | NS      | $1621732.20   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRSTCASH HOLDINGS, INC.                     | FIRSTCASH HOLDINGS INC                        | CUSIP: 33768G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14970 | NS      | $2023045.80   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| UNIVERSAL HEALTH SERVICES, INC.              | UNIVERSAL HEALTH SERVICES                     | CUSIP: 913903100<br>LEI: 549300YGMGQDO0NMJD09 | Long             | EC               | CORP              | US        |     22660 | NS      | $4104859.00   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| ELI LILLY AND COMPANY                        | ELI LILLY CO                                  | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |      8492 | NS      | $6619768.76   | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| TEXAS ROADHOUSE, INC.                        | TEXAS ROADHOUSE INC                           | CUSIP: 882681109<br>LEI: 5299002Y1CNRPDGXTQ75 | Long             | EC               | CORP              | US        |     16165 | NS      | $3029482.65   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| TESLA, INC.                                  | TESLA INC                                     | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |      8436 | NS      | $2679779.76   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| AVERY DENNISON CORPORATION                   | AVERY DENNISON CORP                           | CUSIP: 053611109<br>LEI: 549300PW7VPFCYKLIV37 | Long             | EC               | CORP              | US        |      9911 | NS      | $1739083.17   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| RESMED INC.                                  | RESMED INC                                    | CUSIP: 761152107<br>LEI: 529900T3QE5253CCXF22 | Long             | EC               | CORP              | US        |      7873 | NS      | $2031234.00   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| AFFILIATED MANAGERS GROUP, INC.              | AFFILIATED MANAGERS GROUP INC                 | CUSIP: 008252108<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EC               | CORP              | US        |     15550 | NS      | $3059773.50   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| ROYAL GOLD, INC.                             | ROYAL GOLD INC                                | CUSIP: 780287108<br>LEI: 5493001NGRU6SFL04184 | Long             | EC               | CORP              | US        |     17682 | NS      | $3144566.88   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| ALPHABET INC.                                | ALPHABET INC CLASS C                          | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     72253 | NS      | $12816959.67  | 3.77%             |  |  |  | No            |                  1 | On Loan: No      |
| MICROSOFT CORPORATION                        | MICROSOFT CORP                                | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     45497 | NS      | $22630662.77  | 6.66%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR S&P 500 ETF Trust                       | SPDR S P 500 ETF TRUST                        | CUSIP: 78462F103<br>LEI: 549300NZAMSJ8FXPQQ63 | Long             |  | RF                | US        |      6546 | NS      | $4044446.10   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| COREBRIDGE FINANCIAL, INC.                   | COREBRIDGE FINANCIAL INC                      | CUSIP: 21871X109<br>LEI: 549300XY1661QCIA7J65 | Long             | EC               | CORP              | US        |    104152 | NS      | $3697396.00   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-30

**Name of Applicant:** Victory Portfolios

**Signature:** Carol Trevino

**Name of Signer:** Carol Trevino

**Title:** Treasurer