# EDGAR Filing Document

**Accession Number:** 0000802716
**File Stem:** 0001752724-25-210037
**Filing Date:** 2025-8
**Character Count:** 31167
**Document Hash:** cfabfd019eb9f41241c5ea5533027c04
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-210037.hdr.sgml**: 20250828

**ACCESSION NUMBER**: 0001752724-25-210037

**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**: 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:** 251268206

**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 International Fund (Series ID: S000053564)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000168344 | Class A      | GUBGX           |
| C000168345 | Class C      | RIGCX           |
| C000168346 | Class R      | RIGKX           |
| C000168347 | Class Y      | RSIGX           |
| C000213174 | Class R6     | RSIRX           |

## 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 RS International Fund

- **b. EDGAR series identifier (if any):** S000053564

- **c. LEI of Series:** 549300JEPV6NYZT1OP94

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

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

- **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:** $507672015.21

**Total Liabilities:** $471164.67

**Net Assets:** $507200850.54

**Cash Not Reported:** $16405978.63

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000168346 | 4.38%                | 3.93%                | 2.90%                |
| Class ID C000168344 | 4.43%                | 3.94%                | 2.86%                |
| Class ID C000168345 | 4.44%                | 3.81%                | 2.82%                |
| Class ID C000168347 | 4.50%                | 3.93%                | 2.90%                |
| Class ID C000213174 | 4.47%                | 3.98%                | 2.89%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $177634.53               | $17802353.66                               |
| Month 2  | $960376.00               | $13876525.44                               |
| Month 3  | $3157972.52              | $11269842.68                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| HSBC US GOVERNMENT MONEY MARKET FUND           | HSBC US GOVT MMKT-I                 | CUSIP: 40428X107<br>LEI: N/A            | Long             | STIV             | RF                | US        |      7437 | NS      | $7436.80      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| CTS Eventim AG & Co. KGaA                      | CTS EVENTIM AG CO KGAA              | CUSIP: N/A<br>LEI: 529900FDHSN08UBJII80 | Long             | EC               | CORP              | DE        |     35960 | NS      | $4471081.47   | 0.88%             |  |  |  | No            |                  2 | On Loan: No      |
| Fujitsu Limited                                | FUJITSU LTD                         | CUSIP: N/A<br>LEI: 3538000246DHJLRTUZ24 | Long             | EC               | CORP              | JP        |    264000 | NS      | $6405140.95   | 1.26%             |  |  |  | No            |                  2 | On Loan: No      |
| ARKEMA SA                                      | ARKEMA SA                           | CUSIP: N/A<br>LEI: 9695000EHMS84KKP2785 | Long             | EC               | CORP              | FR        |     55696 | NS      | $4112268.54   | 0.81%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsubishi Heavy Industries, Ltd.              | MITSUBISHI HEAVY INDUSTRIES LT      | CUSIP: N/A<br>LEI: 353800TJ98PCAZROVE69 | Long             | EC               | CORP              | JP        |    388700 | NS      | $9727989.07   | 1.92%             |  |  |  | No            |                  2 | On Loan: No      |
| AENA SME SA                                    | AENA SME SA                         | CUSIP: E526LK101<br>LEI: N/A            | Long             | EC               | CORP              | ES        |    223814 | NS      | $5973680.91   | 1.18%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Novartis AG                                    | NOVARTIS AG                         | CUSIP: N/A<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               | CORP              | CH        |    109645 | NS      | $13314264.87  | 2.63%             |  |  |  | No            |                  2 | On Loan: No      |
| BANCO BPM SOCIETA PER AZIONI                   | BANCO BPM SPA                       | CUSIP: N/A<br>LEI: 815600E4E6DCD2D25E30 | Long             | EC               | CORP              | IT        |    439863 | NS      | $5133661.36   | 1.01%             |  |  |  | No            |                  2 | On Loan: No      |
| UNILEVER PLC                                   | UNILEVER PLC                        | CUSIP: N/A<br>LEI: 549300MKFYEKVRWML317 | Long             | EC               | CORP              | GB        |    109209 | NS      | $6663402.61   | 1.31%             |  |  |  | No            |                  2 | On Loan: No      |
| ASM International N.V.                         | ASM INTERNATIONAL NV                | CUSIP: N/A<br>LEI: 7245001I22ND6ZFHX623 | Long             | EC               | CORP              | NL        |      8372 | NS      | $5369768.96   | 1.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Koninklijke KPN N.V.                           | KONINKLIJKE KPN NV                  | CUSIP: N/A<br>LEI: 549300YO0JZHAL7FVP81 | Long             | EC               | CORP              | NL        |   1181716 | NS      | $5763903.47   | 1.14%             |  |  |  | No            |                  2 | On Loan: No      |
| ING Groep N.V.                                 | ING GROEP NV                        | CUSIP: N/A<br>LEI: 549300NYKK9MWM7GGW15 | Long             | EC               | CORP              | NL        |    455288 | NS      | $9977592.21   | 1.97%             |  |  |  | No            |                  2 | On Loan: No      |
| CSL LIMITED                                    | CSL LTD                             | CUSIP: N/A<br>LEI: 529900ECSECK5ZDQTE14 | Long             | EC               | CORP              | AU        |     23694 | NS      | $3741855.59   | 0.74%             |  |  |  | No            |                  2 | On Loan: No      |
| RIO TINTO PLC                                  | RIO TINTO PLC                       | CUSIP: N/A<br>LEI: 213800YOEO5OQ72G2R82 | Long             | EC               | CORP              | GB        |    104697 | NS      | $6092687.30   | 1.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Nippon Yusen Kabushiki Kaisha                  | NIPPON YUSEN KK                     | CUSIP: N/A<br>LEI: 353800YPW4XM0ZN5I149 | Long             | EC               | CORP              | JP        |    104300 | NS      | $3752576.80   | 0.74%             |  |  |  | No            |                  2 | On Loan: No      |
| KONGSBERG GRUPPEN ASA                          | KONGSBERG GRUPPEN ASA               | CUSIP: N/A<br>LEI: 5967007LIEEXZXJ9HK73 | Long             | EC               | CORP              | NO        |    194911 | NS      | $7562398.71   | 1.49%             |  |  |  | No            |                  2 | On Loan: No      |
| IMPERIAL BRANDS PLC                            | IMPERIAL BRANDS PLC                 | CUSIP: N/A<br>LEI: 549300DFVPOB67JL3A42 | Long             | EC               | CORP              | GB        |    211843 | NS      | $8368427.46   | 1.65%             |  |  |  | No            |                  2 | On Loan: No      |
| Shionogi & Co., Ltd.                           | SHIONOGI CO LTD                     | CUSIP: N/A<br>LEI: 35380049VXDTHZI3DY35 | Long             | EC               | CORP              | JP        |    296600 | NS      | $5340031.10   | 1.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Mizuho Financial Group, Inc.                   | MIZUHO FINANCIAL GROUP INC          | CUSIP: N/A<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | EC               | CORP              | JP        |    282300 | NS      | $7837443.18   | 1.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Logitech international S.A.                    | LOGITECH INTERNATIONAL SA           | CUSIP: N/A<br>LEI: 549300SN6PRK6IJJC215 | Long             | EC               | CORP              | CH        |     39256 | NS      | $3561480.04   | 0.70%             |  |  |  | No            |                  2 | On Loan: No      |
| Sanwa Holdings Corporation                     | SANWA HOLDINGS CORP                 | CUSIP: N/A<br>LEI: 5299003X6BCA4ROO5A70 | Long             | EC               | CORP              | JP        |    208700 | NS      | $6922388.72   | 1.36%             |  |  |  | No            |                  2 | On Loan: No      |
| MISUMI GROUP INC                               | MISUMI GROUP INC                    | CUSIP: J43293109<br>LEI: N/A            | Long             | EC               | CORP              | JP        |    153900 | NS      | $2056083.59   | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| Nordea Bank Abp                                | NORDEA BANK ABP                     | CUSIP: N/A<br>LEI: 529900ODI3047E2LIV03 | Long             | EC               | CORP              | FI        |    408263 | NS      | $6056916.40   | 1.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Allianz SE                                     | ALLIANZ SE                          | CUSIP: N/A<br>LEI: 529900K9B0N5BT694847 | Long             | EC               | CORP              | DE        |     33325 | NS      | $13522677.86  | 2.67%             |  |  |  | No            |                  2 | On Loan: No      |
| GREGGS PLC                                     | GREGGS PLC                          | CUSIP: N/A<br>LEI: 213800I71QMUFJ64IW20 | Long             | EC               | CORP              | GB        |    128520 | NS      | $3388338.82   | 0.67%             |  |  |  | No            |                  2 | On Loan: No      |
| RWE Aktiengesellschaft                         | RWE AG                              | CUSIP: N/A<br>LEI: 529900GB7KCA94ACC940 | Long             | EC               | CORP              | DE        |    111300 | NS      | $4650436.38   | 0.92%             |  |  |  | No            |                  2 | On Loan: No      |
| GAZTRANSPORT ET TECHNIGAZ SA                   | GAZTRANSPORT ET TECHNIGAZ SA        | CUSIP: N/A<br>LEI: 969500BVOHVZUUFWDT54 | Long             | EC               | CORP              | FR        |     14677 | NS      | $2903081.86   | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| Melexis NV                                     | MELEXIS NV                          | CUSIP: N/A<br>LEI: 549300QRPSGOJRPUFO80 | Long             | EC               | CORP              | BE        |     33826 | NS      | $2882962.39   | 0.57%             |  |  |  | No            |                  2 | On Loan: —       |
| Roche Holding AG                               | ROCHE HOLDING AG                    | CUSIP: N/A<br>LEI: 549300U41AUUVOAAOB37 | Long             | EC               | CORP              | CH        |     39610 | NS      | $12935188.59  | 2.55%             |  |  |  | No            |                  2 | On Loan: No      |
| SAFRAN SA                                      | SAFRAN SA                           | CUSIP: N/A<br>LEI: 969500UIC89GT3UL7L24 | Long             | EC               | CORP              | FR        |     31500 | NS      | $10271609.41  | 2.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Sumitomo Realty & Development Co., Ltd.        | SUMITOMO REALTY DEVELOPMENT         | CUSIP: N/A<br>LEI: 353800SO2DCLOI3LNZ64 | Long             | EC               | CORP              | JP        |    119200 | NS      | $4603904.28   | 0.91%             |  |  |  | No            |                  2 | On Loan: No      |
| AIA Group Limited                              | AIA GROUP LTD                       | CUSIP: N/A<br>LEI: ZP5ILWVSYE4LJGMMVD57 | Long             | EC               | CORP              | HK        |    971600 | NS      | $8801459.78   | 1.74%             |  |  |  | No            |                  2 | On Loan: No      |
| MSILF Government Portfolio                     | MSILF GOVERNMENT-INST               | CUSIP: 61747C707<br>LEI: N/A            | Long             | STIV             | RF                | US        |      7437 | NS      | $7436.80      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| VOLKSWAGEN AKTIENGESELLSCHAFT                  | VOLKSWAGEN AG                       | CUSIP: N/A<br>LEI: 529900NNUPAGGOMPXZ31 | Long             | EC               | CORP              | DE        |     40655 | NS      | $4297236.28   | 0.85%             |  |  |  | No            |                  2 | On Loan: No      |
| ORACLE CORPORATION JAPAN                       | ORACLE CORP JAPAN                   | CUSIP: N/A<br>LEI: 529900MIMKY9RU60Z323 | Long             | EC               | CORP              | JP        |     45400 | NS      | $5411814.41   | 1.07%             |  |  |  | No            |                  2 | On Loan: No      |
| AUTO TRADER GROUP PLC                          | AUTO TRADER GROUP PLC               | CUSIP: N/A<br>LEI: 213800QLK9BZILB1DI86 | Long             | EC               | CORP              | GB        |    396932 | NS      | $4495148.45   | 0.89%             |  |  |  | Yes           |                  2 | On Loan: No      |
| DISCO CORPORATION                              | DISCO CORP                          | CUSIP: N/A<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     20800 | NS      | $6162503.51   | 1.22%             |  |  |  | No            |                  2 | On Loan: No      |
| SHELL PLC                                      | SHELL PLC                           | CUSIP: N/A<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |    286570 | NS      | $9996477.62   | 1.97%             |  |  |  | No            |                  2 | On Loan: No      |
| FUJI ELECTRIC CO., LTD.                        | FUJI ELECTRIC CO LTD                | CUSIP: N/A<br>LEI: 5299000HVNGZZTYYM906 | Long             | EC               | CORP              | JP        |     99900 | NS      | $4601063.09   | 0.91%             |  |  |  | No            |                  2 | On Loan: No      |
| ASML Holding N.V.                              | ASML HOLDING N V                    | CUSIP: N/A<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |      5359 | NS      | $4293818.50   | 0.85%             |  |  |  | No            |                  2 | On Loan: No      |
| Nestle S.A.                                    | NESTLE SA                           | CUSIP: N/A<br>LEI: KY37LUS27QQX7BB93L28 | Long             | EC               | CORP              | CH        |    108897 | NS      | $10832008.61  | 2.14%             |  |  |  | No            |                  2 | On Loan: No      |
| SCENTRE GROUP                                  | SCENTRE GROUP                       | CUSIP: N/A<br>LEI: N/A                  | Long             |  | RF                | AU        |   2171891 | NS      | $5099978.78   | 1.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Wolters Kluwer N.V.                            | WOLTERS KLUWER NV                   | CUSIP: N/A<br>LEI: 724500TEM53I0U077B74 | Long             | EC               | CORP              | NL        |     40070 | NS      | $6700381.69   | 1.32%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                              | HSBC HOLDINGS PLC                   | CUSIP: N/A<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | EC               | CORP              | GB        |    973492 | NS      | $11773402.66  | 2.32%             |  |  |  | No            |                  2 | On Loan: No      |
| SAP SE                                         | SAP SE                              | CUSIP: N/A<br>LEI: 529900D6BF99LW9R2E68 | Long             | EC               | CORP              | DE        |     44134 | NS      | $13493560.29  | 2.66%             |  |  |  | No            |                  2 | On Loan: No      |
| Coca-Cola HBC AG                               | COCA COLA HBC AG                    | CUSIP: N/A<br>LEI: 549300EFP3TNG7JGVE49 | Long             | EC               | CORP              | CH        |    130086 | NS      | $6794798.33   | 1.34%             |  |  |  | No            |                  2 | On Loan: No      |
| NOVO NORDISK A/S                               | NOVO NORDISK                        | CUSIP: N/A<br>LEI: 549300DAQ1CVT6CXN342 | Long             | EC               | CORP              | DK        |    125842 | NS      | $8721404.72   | 1.72%             |  |  |  | No            |                  2 | On Loan: No      |
| BP P.L.C.                                      | BP PLC                              | CUSIP: N/A<br>LEI: 213800LH1BZH3DI6G760 | Long             | EC               | CORP              | GB        |    514499 | NS      | $2562919.96   | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| FDJ UNITED                                     | FDJ UNITED                          | CUSIP: N/A<br>LEI: 969500R4CLSQFTYYI535 | Long             | EC               | CORP              | FR        |    104892 | NS      | $4115475.08   | 0.81%             |  |  |  | Yes           |                  2 | On Loan: No      |
| CAPGEMINI SE                                   | CAPGEMINI SA                        | CUSIP: N/A<br>LEI: 96950077L0TN7BAROX36 | Long             | EC               | CORP              | FR        |     15398 | NS      | $2636363.33   | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| Essity Aktiebolag (publ)                       | ESSITY AKTIEBOLAG B                 | CUSIP: N/A<br>LEI: 549300G8E6YUVJ1DA153 | Long             | EC               | CORP              | SE        |     39837 | NS      | $1103495.79   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| SOLVAY SA                                      | SOLVAY SA                           | CUSIP: N/A<br>LEI: 549300MMVL80RTBP3O28 | Long             | EC               | CORP              | BE        |     86553 | NS      | $2997543.19   | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| L'OREAL SA                                     | L OREAL SA                          | CUSIP: N/A<br>LEI: 529900JI1GG6F7RKVI53 | Long             | EC               | CORP              | FR        |     15073 | NS      | $6455754.64   | 1.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Pandora A/S                                    | PANDORA A S                         | CUSIP: N/A<br>LEI: 5299007OWYZ6I1E46843 | Long             | EC               | CORP              | DK        |     24293 | NS      | $4280952.72   | 0.84%             |  |  |  | No            |                  2 | On Loan: No      |
| TOYO SUISAN KAISHA, LTD.                       | TOYO SUISAN KAISHA LTD              | CUSIP: 892306101<br>LEI: N/A            | Long             | EC               | CORP              | JP        |     44700 | NS      | $2971387.59   | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| Partners Group Holding AG                      | PARTNERS GROUP HOLDING AG           | CUSIP: N/A<br>LEI: 549300I3IVVWZWDHI788 | Long             | EC               | CORP              | CH        |      2534 | NS      | $3316762.05   | 0.65%             |  |  |  | No            |                  2 | On Loan: No      |
| SINGAPORE EXCHANGE LIMITED                     | SINGAPORE EXCHANGE LTD              | CUSIP: N/A<br>LEI: 549300IQ650PPXM76X03 | Long             | EC               | CORP              | SG        |    401000 | NS      | $4696505.34   | 0.93%             |  |  |  | No            |                  2 | On Loan: No      |
| Siemens Aktiengesellschaft                     | SIEMENS AG                          | CUSIP: N/A<br>LEI: W38RGI023J3WT1HWRP32 | Long             | EC               | CORP              | DE        |     43147 | NS      | $11081257.06  | 2.18%             |  |  |  | No            |                  2 | On Loan: No      |
| ZOZO, Inc.                                     | ZOZO INC                            | CUSIP: N/A<br>LEI: 549300GC7XPQMZA0OW13 | Long             | EC               | CORP              | JP        |    363100 | NS      | $3923594.05   | 0.77%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS Group AG                                   | UBS GROUP AG                        | CUSIP: N/A<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | EC               | CORP              | CH        |    154300 | NS      | $5241065.31   | 1.03%             |  |  |  | No            |                  2 | On Loan: No      |
| REXEL SA                                       | REXEL SA                            | CUSIP: N/A<br>LEI: 969500N6AVPA51648T62 | Long             | EC               | CORP              | FR        |    176898 | NS      | $5455314.83   | 1.08%             |  |  |  | No            |                  2 | On Loan: No      |
| CAPCOM CO., LTD.                               | CAPCOM CO LTD                       | CUSIP: N/A<br>LEI: 529900JJWQKXS3TC8744 | Long             | EC               | CORP              | JP        |    182700 | NS      | $6240125.48   | 1.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria, S.A.          | BANCO BILBAO VIZCAYA ARGENTARIA SA  | CUSIP: N/A<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | EC               | CORP              | ES        |    732042 | NS      | $11270750.69  | 2.22%             |  |  |  | No            |                  2 | On Loan: No      |
| NEXT PLC                                       | NEXT PLC                            | CUSIP: N/A<br>LEI: 213800WQD8ECPZP9PH98 | Long             | EC               | CORP              | GB        |     28151 | NS      | $4807145.85   | 0.95%             |  |  |  | No            |                  2 | 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        |      7437 | NS      | $7436.80      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BARCLAYS PLC                                   | BARCLAYS PLC                        | CUSIP: N/A<br>LEI: 213800LBQA1Y9L22JB70 | Long             | EC               | RF                | GB        |   2491963 | NS      | $11512692.39  | 2.27%             |  |  |  | No            |                  2 | On Loan: No      |
| JAMES HARDIE INDUSTRIES PUBLIC LIMITED COMPANY | JAMES HARDIE INDUSTRIES PLC         | CUSIP: N/A<br>LEI: 635400NSGXKTVOO7JU45 | Long             |  | CORP              | IE        |    114968 | NS      | $3086561.13   | 0.61%             |  |  |  | No            |                  2 | On Loan: No      |
| HOYA CORPORATION                               | HOYA CORP                           | CUSIP: N/A<br>LEI: 353800X4VR3BHEUCJB42 | Long             | EC               | CORP              | JP        |     52300 | NS      | $6211904.13   | 1.22%             |  |  |  | No            |                  2 | On Loan: No      |
| BHP GROUP LIMITED                              | BHP GROUP LIMITED                   | CUSIP: N/A<br>LEI: WZE1WSENV6JSZFK0JC28 | Long             | EC               | CORP              | AU        |    373274 | NS      | $8978006.69   | 1.77%             |  |  |  | No            |                  2 | On Loan: No      |
| BAWAG Group AG                                 | BAWAG GROUP AG                      | CUSIP: N/A<br>LEI: 529900S9YO2JHTIIDG38 | Long             | EC               | CORP              | AT        |     42087 | NS      | $5381459.24   | 1.06%             |  |  |  | Yes           |                  2 | On Loan: No      |
| LVMH MOET HENNESSY LOUIS VUITTON SE            | LVMH MOET HENNESSY LOUIS VUITTON SA | CUSIP: N/A<br>LEI: IOG4E947OATN0KJYSD45 | Long             | EC               | CORP              | FR        |      8418 | NS      | $4405253.32   | 0.87%             |  |  |  | No            |                  2 | On Loan: No      |
| INVESCO GOVERNMENT & AGENCY PORTFOLIO          | INVESCO GVT & AGNCY-INST            | CUSIP: 825252885<br>LEI: N/A            | Long             | STIV             | RF                | US        |      7437 | NS      | $7436.80      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| MACQUARIE GROUP LIMITED.                       | MACQUARIE GROUP LTD                 | CUSIP: N/A<br>LEI: ACMHD8HWFMFUIQQ8Y590 | Long             | EC               | CORP              | AU        |     36481 | NS      | $5485683.77   | 1.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Tokio Marine Holdings, Inc.                    | TOKIO MARINE HOLDINGS INC           | CUSIP: N/A<br>LEI: 5299009QN2NZ191KLS29 | Long             | EC               | CORP              | JP        |    194400 | NS      | $8239730.40   | 1.62%             |  |  |  | No            |                  2 | On Loan: No      |
| FISHER & PAYKEL HEALTHCARE CORPORATION LIMITED | FISHER PAYKEL HEALTHCARE CORP LTD   | CUSIP: N/A<br>LEI: N/A                  | Long             | EC               | CORP              | NZ        |    152914 | NS      | $3357330.62   | 0.66%             |  |  |  | No            |                  2 | On Loan: No      |
| Kakaku.com Inc                                 | KAKAKU COM INC                      | CUSIP: N/A<br>LEI: 353800KA15Y0DCPWYY65 | Long             | EC               | CORP              | JP        |    260700 | NS      | $4834959.40   | 0.95%             |  |  |  | No            |                  2 | On Loan: No      |
| ENEL - SPA                                     | ENEL SPA                            | CUSIP: N/A<br>LEI: WOCMU6HCI0OJWNPRZS33 | Long             | EC               | CORP              | IT        |    662290 | NS      | $6284802.24   | 1.24%             |  |  |  | No            |                  2 | On Loan: No      |
| CENTRICA PLC                                   | CENTRICA PLC                        | CUSIP: N/A<br>LEI: E26EDV109X6EEPBKVH76 | Long             | EC               | CORP              | GB        |   2196934 | NS      | $4873614.52   | 0.96%             |  |  |  | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CORPORATION                       | TOYOTA MOTOR CORP                   | CUSIP: N/A<br>LEI: 5493006W3QUS5LMH6R84 | Long             | EC               | CORP              | JP        |    520600 | NS      | $8967220.03   | 1.77%             |  |  |  | No            |                  2 | On Loan: No      |
| CK ASSET HOLDINGS LIMITED                      | CK ASSET HOLDINGS LIMITED           | CUSIP: N/A<br>LEI: 5299006GJZSGP78B8S35 | Long             | EC               | CORP              | KY        |   1204500 | NS      | $5322641.57   | 1.05%             |  |  |  | No            |                  2 | On Loan: No      |
| iShares MSCI EAFE ETF                          | ISHARES MSCI EAFE ETF               | CUSIP: 464287465<br>LEI: N/A            | Long             |  | RF                | US        |      2721 | NS      | $243230.19    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| ARISTOCRAT LEISURE LIMITED                     | ARISTOCRAT LEISURE LTD              | CUSIP: N/A<br>LEI: 529900TE2HO3OZKYKC27 | Long             | EC               | CORP              | AU        |    150668 | NS      | $6453848.87   | 1.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Atlas Copco Aktiebolag                         | ATLAS COPCO AB                      | CUSIP: N/A<br>LEI: 213800T8PC8Q4FYJZR07 | Long             | EC               | CORP              | SE        |    486311 | NS      | $6924314.75   | 1.37%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

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

**Name of Applicant:** Victory Portfolios

**Signature:** Carol Trevino

**Name of Signer:** Carol Trevino

**Title:** Treasurer