# EDGAR Filing Document

**Accession Number:** 0000908695
**File Stem:** 0001104659-26-065115
**Filing Date:** 2026-5
**Character Count:** 20490
**Document Hash:** fdc4776d5f406d35d8883eea011dc134
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-065115.hdr.sgml**: 20260521

**ACCESSION NUMBER**: 0001104659-26-065115

**CONFORMED SUBMISSION TYPE**: 24F-2NT

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260228

**FILED AS OF DATE**: 20260521

**DATE AS OF CHANGE**: 20260521

**EFFECTIVENESS DATE**: 20260521

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VICTORY PORTFOLIOS III
- **CENTRAL INDEX KEY:** 0000908695

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** 24F-2NT
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-65572
- **FILM NUMBER:** 261008150

**BUSINESS ADDRESS:**
- **STREET 1:** 15935 LA CANTERA PARKWAY
- **STREET 2:** BUILDING TWO
- **CITY:** SAN ANTONIO
- **STATE:** TX
- **ZIP:** 78256
- **BUSINESS PHONE:** 210-697-3625

**MAIL ADDRESS:**
- **STREET 1:** 15935 LA CANTERA PARKWAY
- **STREET 2:** BUILDING TWO
- **CITY:** SAN ANTONIO
- **STATE:** TX
- **ZIP:** 78256

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** USAA MUTUAL FUNDS TRUST
- **DATE OF NAME CHANGE:** 20060420

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** USAA STATE TAX FREE TRUST
- **DATE OF NAME CHANGE:** 19940325

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** USAA STATE TAX EXEMPT TRUST
- **DATE OF NAME CHANGE:** 19930707

## Series and Classes Contracts Data

### Victory Growth and Tax Strategy Fund (Formerly USAA Growth and Tax Strategy Fund) (Series ID: S000012897)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                                | Ticker Symbol | Class ID   |
| Victory Growth and Tax Strategy Fund Shares               | USBLX         | C000034866 |
| Victory Growth and Tax Strategy Fund Class C              | UGTCX         | C000220605 |
| Victory Growth and Tax Strategy Fund Institutional Shares | UGTIX         | C000220606 |
| Victory Growth and Tax Strategy Fund Class A              | UGTAX         | C000220607 |

---

### Victory Tax Exempt Intermediate-Term Fund (Formerly USAA Tax Exempt Intermediate-Term Fund) (Series ID: S000012901)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                                     | Ticker Symbol | Class ID   |
| Victory Tax Exempt Intermediate-Term Fund Shares               | USATX         | C000034870 |
| Victory Tax Exempt Intermediate-Term Fund Class A              | UTEIX         | C000220611 |
| Victory Tax Exempt Intermediate-Term Fund Institutional Shares | UITIX         | C000220612 |

---

### Victory International Fund (Formerly USAA International Fund) (Series ID: S000012903)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                      | Ticker Symbol | Class ID   |
| Victory International Fund Shares               | USIFX         | C000034872 |
| Victory International Fund Institutional Shares | UIIFX         | C000066841 |
| Victory International Fund Class R6             | URITX         | C000204424 |

---

### Victory Tax Exempt Long-Term Fund (Formerly USAA Tax Exempt Long-Term Fund) (Series ID: S000012904)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                             | Ticker Symbol | Class ID   |
| Victory Tax Exempt Long-Term Fund Shares               | USTEX         | C000034873 |
| Victory Tax Exempt Long-Term Fund Class A              | UTELX         | C000220616 |
| Victory Tax Exempt Long-Term Fund Institutional Shares | ULTIX         | C000220617 |

---

### Victory Cornerstone Moderate Fund (Formerly USAA Cornerstone Moderate Fund) (Series ID: S000012905)

---

|  |  |  |
|:---|:---|:---|
| Class Name                        | Ticker Symbol | Class ID   |
| Victory Cornerstone Moderate Fund | USBSX         | C000034874 |

---

### Victory New York Bond Fund (Formerly USAA New York Bond Fund) (Series ID: S000012908)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                      | Ticker Symbol | Class ID   |
| Victory New York Bond Fund Shares               | USNYX         | C000034877 |
| Victory New York Bond Fund Institutional Shares | UNYIX         | C000220622 |

---

### Victory Precious Metals and Minerals Fund (Formerly USAA Precious Metals and Minerals Fund) (Series ID: S000012910)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                                     | Ticker Symbol | Class ID   |
| Victory Precious Metals and Minerals Fund Shares               | USAGX         | C000034879 |
| Victory Precious Metals and Minerals Fund Institutional Shares | UIPMX         | C000066842 |
| Victory Precious Metals and Minerals Fund Class A              | UPMMX         | C000220623 |

---

### Victory Tax Exempt Short-Term Fund (Formerly USAA Tax Exempt Short-Term Fund) (Series ID: S000012912)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                              | Ticker Symbol | Class ID   |
| Victory Tax Exempt Short-Term Fund Shares               | USSTX         | C000034881 |
| Victory Tax Exempt Short-Term Fund Class A              | UTESX         | C000220625 |
| Victory Tax Exempt Short-Term Fund Institutional Shares | USTIX         | C000220626 |

---

### Victory California Bond Fund (Formerly USAA California Bond Fund) (Series ID: S000012916)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                        | Ticker Symbol | Class ID   |
| Victory California Bond Fund Shares               | USCBX         | C000034886 |
| Victory California Bond Fund Class A              | UXABX         | C000220628 |
| Victory California Bond Fund Institutional Shares | UCBIX         | C000220629 |

---

### Victory Tax Exempt Money Market Fund (Formerly USAA Tax Exempt Money Market Fund) (Series ID: S000012917)

---

|  |  |  |
|:---|:---|:---|
| Class Name                           | Ticker Symbol | Class ID   |
| Victory Tax Exempt Money Market Fund | USEXX         | C000034887 |

---

### Victory Treasury Money Market Trust (Formerly USAA Treasury Money Market Trust) (Series ID: S000012919)

---

|  |  |  |
|:---|:---|:---|
| Class Name                          | Ticker Symbol | Class ID   |
| Victory Treasury Money Market Trust | UATXX         | C000034889 |

---

### Victory Virginia Bond Fund (Formerly USAA Virginia Bond Fund) (Series ID: S000012921)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                      | Ticker Symbol | Class ID   |
| Victory Virginia Bond Fund Shares               | USVAX         | C000034891 |
| Victory Virginia Bond Fund Class A              | UVABX         | C000220631 |
| Victory Virginia Bond Fund Institutional Shares | UVAIX         | C000220632 |

---

### Victory Sustainable World Fund (Formerly USAA Sustainable World Fund) (Series ID: S000012923)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                          | Ticker Symbol | Class ID   |
| Victory Sustainable World Fund Shares               | USAWX         | C000034893 |
| Victory Sustainable World Fund Institutional Shares | UIWGX         | C000159208 |
| Victory Sustainable World Fund Class A              | USWGX         | C000220633 |

---

### Victory Cornerstone Moderately Aggressive Fund (Formerly USAA Cornerstone Moderately Aggressive Fund) (Series ID: S000012926)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                     | Ticker Symbol | Class ID   |
| Victory Cornerstone Moderately Aggressive Fund | USCRX         | C000034896 |

---

### Victory Emerging Markets Fund (Formerly USAA Emerging Markets Fund) (Series ID: S000012927)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                         | Ticker Symbol | Class ID   |
| Victory Emerging Markets Fund Shares               | USEMX         | C000034897 |
| Victory Emerging Markets Fund Institutional Shares | UIEMX         | C000066846 |

---

### Victory Government Securities Fund (Formerly USAA Government Securities Fund) (Series ID: S000012929)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                              | Ticker Symbol | Class ID   |
| Victory Government Securities Fund Shares               | USGNX         | C000034899 |
| Victory Government Securities Fund Institutional Shares | UIGSX         | C000159210 |
| Victory Government Securities Fund Class R6             | URGSX         | C000175754 |

---

### Victory Cornerstone Conservative Fund (Formerly USAA Cornerstone Conservative Fund) (Series ID: S000037224)

---

|  |  |  |
|:---|:---|:---|
| Class Name                            | Ticker Symbol | Class ID   |
| Victory Cornerstone Conservative Fund | USCCX         | C000114650 |

---

### Victory Cornerstone Moderately Conservative Fund (Formerly USAA Cornerstone Moderately Conservative Fund) (Series ID: S000037225)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                       | Ticker Symbol | Class ID   |
| Victory Cornerstone Moderately Conservative Fund | UCMCX         | C000114651 |

---

### Victory Cornerstone Aggressive Fund (Formerly USAA Cornerstone Aggressive Fund) (Series ID: S000037226)

---

|  |  |  |
|:---|:---|:---|
| Class Name                          | Ticker Symbol | Class ID   |
| Victory Cornerstone Aggressive Fund | UCAGX         | C000114652 |

---

### Victory Cornerstone Equity Fund (Formerly USAA Cornerstone Equity Fund) (Series ID: S000037227)

---

|  |  |  |
|:---|:---|:---|
| Class Name                      | Ticker Symbol | Class ID   |
| Victory Cornerstone Equity Fund | UCEQX         | C000114653 |

---

### Victory Target Managed Allocation Fund (Formerly USAA Target Managed Allocation Fund) (Series ID: S000050251)

---

|  |  |  |
|:---|:---|:---|
| Class Name                             | Ticker Symbol | Class ID   |
| Victory Target Managed Allocation Fund | UTMAX         | C000158651 |

---

### Victory Global Equity Income Fund (Formerly USAA Global Equity Income Fund) (Series ID: S000050252)

---

|  |  |  |
|:---|:---|:---|
| Class Name                               | Ticker Symbol | Class ID   |
| Victory Global Equity Income Fund Shares | UGIEX         | C000158652 |

---

## Series and Classes Contracts Data

### Victory Growth and Tax Strategy Fund (Formerly USAA Growth and Tax Strategy Fund) (Series ID: S000012897)

| Class ID   | Class Name                                                | Ticker Symbol   |
|:---|:---|:---|
| C000034866 | Victory Growth and Tax Strategy Fund Shares               | USBLX           |
| C000220605 | Victory Growth and Tax Strategy Fund Class C              | UGTCX           |
| C000220606 | Victory Growth and Tax Strategy Fund Institutional Shares | UGTIX           |
| C000220607 | Victory Growth and Tax Strategy Fund Class A              | UGTAX           |

### Victory Tax Exempt Intermediate-Term Fund (Formerly USAA Tax Exempt Intermediate-Term Fund) (Series ID: S000012901)

| Class ID   | Class Name                                                     | Ticker Symbol   |
|:---|:---|:---|
| C000034870 | Victory Tax Exempt Intermediate-Term Fund Shares               | USATX           |
| C000220611 | Victory Tax Exempt Intermediate-Term Fund Class A              | UTEIX           |
| C000220612 | Victory Tax Exempt Intermediate-Term Fund Institutional Shares | UITIX           |

### Victory International Fund (Formerly USAA International Fund) (Series ID: S000012903)

| Class ID   | Class Name                                      | Ticker Symbol   |
|:---|:---|:---|
| C000034872 | Victory International Fund Shares               | USIFX           |
| C000066841 | Victory International Fund Institutional Shares | UIIFX           |
| C000204424 | Victory International Fund Class R6             | URITX           |

### Victory Tax Exempt Long-Term Fund (Formerly USAA Tax Exempt Long-Term Fund) (Series ID: S000012904)

| Class ID   | Class Name                                             | Ticker Symbol   |
|:---|:---|:---|
| C000034873 | Victory Tax Exempt Long-Term Fund Shares               | USTEX           |
| C000220616 | Victory Tax Exempt Long-Term Fund Class A              | UTELX           |
| C000220617 | Victory Tax Exempt Long-Term Fund Institutional Shares | ULTIX           |

### Victory Cornerstone Moderate Fund (Formerly USAA Cornerstone Moderate Fund) (Series ID: S000012905)

| Class ID   | Class Name                        | Ticker Symbol   |
|:---|:---|:---|
| C000034874 | Victory Cornerstone Moderate Fund | USBSX           |

### Victory New York Bond Fund (Formerly USAA New York Bond Fund) (Series ID: S000012908)

| Class ID   | Class Name                                      | Ticker Symbol   |
|:---|:---|:---|
| C000034877 | Victory New York Bond Fund Shares               | USNYX           |
| C000220622 | Victory New York Bond Fund Institutional Shares | UNYIX           |

### Victory Precious Metals and Minerals Fund (Formerly USAA Precious Metals and Minerals Fund) (Series ID: S000012910)

| Class ID   | Class Name                                                     | Ticker Symbol   |
|:---|:---|:---|
| C000034879 | Victory Precious Metals and Minerals Fund Shares               | USAGX           |
| C000066842 | Victory Precious Metals and Minerals Fund Institutional Shares | UIPMX           |
| C000220623 | Victory Precious Metals and Minerals Fund Class A              | UPMMX           |

### Victory Tax Exempt Short-Term Fund (Formerly USAA Tax Exempt Short-Term Fund) (Series ID: S000012912)

| Class ID   | Class Name                                              | Ticker Symbol   |
|:---|:---|:---|
| C000034881 | Victory Tax Exempt Short-Term Fund Shares               | USSTX           |
| C000220625 | Victory Tax Exempt Short-Term Fund Class A              | UTESX           |
| C000220626 | Victory Tax Exempt Short-Term Fund Institutional Shares | USTIX           |

### Victory California Bond Fund (Formerly USAA California Bond Fund) (Series ID: S000012916)

| Class ID   | Class Name                                        | Ticker Symbol   |
|:---|:---|:---|
| C000034886 | Victory California Bond Fund Shares               | USCBX           |
| C000220628 | Victory California Bond Fund Class A              | UXABX           |
| C000220629 | Victory California Bond Fund Institutional Shares | UCBIX           |

### Victory Tax Exempt Money Market Fund (Formerly USAA Tax Exempt Money Market Fund) (Series ID: S000012917)

| Class ID   | Class Name                           | Ticker Symbol   |
|:---|:---|:---|
| C000034887 | Victory Tax Exempt Money Market Fund | USEXX           |

### Victory Treasury Money Market Trust (Formerly USAA Treasury Money Market Trust) (Series ID: S000012919)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000034889 | Victory Treasury Money Market Trust | UATXX           |

### Victory Virginia Bond Fund (Formerly USAA Virginia Bond Fund) (Series ID: S000012921)

| Class ID   | Class Name                                      | Ticker Symbol   |
|:---|:---|:---|
| C000034891 | Victory Virginia Bond Fund Shares               | USVAX           |
| C000220631 | Victory Virginia Bond Fund Class A              | UVABX           |
| C000220632 | Victory Virginia Bond Fund Institutional Shares | UVAIX           |

### Victory Sustainable World Fund (Formerly USAA Sustainable World Fund) (Series ID: S000012923)

| Class ID   | Class Name                                          | Ticker Symbol   |
|:---|:---|:---|
| C000034893 | Victory Sustainable World Fund Shares               | USAWX           |
| C000159208 | Victory Sustainable World Fund Institutional Shares | UIWGX           |
| C000220633 | Victory Sustainable World Fund Class A              | USWGX           |

### Victory Cornerstone Moderately Aggressive Fund (Formerly USAA Cornerstone Moderately Aggressive Fund) (Series ID: S000012926)

| Class ID   | Class Name                                     | Ticker Symbol   |
|:---|:---|:---|
| C000034896 | Victory Cornerstone Moderately Aggressive Fund | USCRX           |

### Victory Emerging Markets Fund (Formerly USAA Emerging Markets Fund) (Series ID: S000012927)

| Class ID   | Class Name                                         | Ticker Symbol   |
|:---|:---|:---|
| C000034897 | Victory Emerging Markets Fund Shares               | USEMX           |
| C000066846 | Victory Emerging Markets Fund Institutional Shares | UIEMX           |

### Victory Government Securities Fund (Formerly USAA Government Securities Fund) (Series ID: S000012929)

| Class ID   | Class Name                                              | Ticker Symbol   |
|:---|:---|:---|
| C000034899 | Victory Government Securities Fund Shares               | USGNX           |
| C000159210 | Victory Government Securities Fund Institutional Shares | UIGSX           |
| C000175754 | Victory Government Securities Fund Class R6             | URGSX           |

### Victory Cornerstone Conservative Fund (Formerly USAA Cornerstone Conservative Fund) (Series ID: S000037224)

| Class ID   | Class Name                            | Ticker Symbol   |
|:---|:---|:---|
| C000114650 | Victory Cornerstone Conservative Fund | USCCX           |

### Victory Cornerstone Moderately Conservative Fund (Formerly USAA Cornerstone Moderately Conservative Fund) (Series ID: S000037225)

| Class ID   | Class Name                                       | Ticker Symbol   |
|:---|:---|:---|
| C000114651 | Victory Cornerstone Moderately Conservative Fund | UCMCX           |

### Victory Cornerstone Aggressive Fund (Formerly USAA Cornerstone Aggressive Fund) (Series ID: S000037226)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000114652 | Victory Cornerstone Aggressive Fund | UCAGX           |

### Victory Cornerstone Equity Fund (Formerly USAA Cornerstone Equity Fund) (Series ID: S000037227)

| Class ID   | Class Name                      | Ticker Symbol   |
|:---|:---|:---|
| C000114653 | Victory Cornerstone Equity Fund | UCEQX           |

### Victory Target Managed Allocation Fund (Formerly USAA Target Managed Allocation Fund) (Series ID: S000050251)

| Class ID   | Class Name                             | Ticker Symbol   |
|:---|:---|:---|
| C000158651 | Victory Target Managed Allocation Fund | UTMAX           |

### Victory Global Equity Income Fund (Formerly USAA Global Equity Income Fund) (Series ID: S000050252)

| Class ID   | Class Name                               | Ticker Symbol   |
|:---|:---|:---|
| C000158652 | Victory Global Equity Income Fund Shares | UGIEX           |

## FORM 24F-2NT: Annual Notice of Securities Sold Pursuant to Rule 24f-2

### 24F-2NT: Filer Information

**Filer CIK:** 0000908695

**Is this a LIVE or TEST Filing?:** LIVE

**Filer Investment Company Type:** N-1A

### 24F-2NT: Annual Filing Information

**1. Name and address of issuer:**

- **Name of Issuer:** VICTORY PORTFOLIOS III

- **Address:** 15935 LA CANTERA PKWY BUILDING TWO, SAN ANTONIO, TX 78256

**2. The Name and EDGAR Identifier of each series or class of securities for which this Form is filed:**

- [ ] Check box if the Form is being filed for all series and classes of the issuer.

**3. Investment Company Act File Number:** 811-07852

   **Securities Act File Number:** 033-65572

**4(a). Last day of fiscal year for which this Form is filed:** 02/28/2026

**4(b). Check box if this Form is being filed late:** [ ]

**4(c). Check box if this is the last time the issuer will be filing this Form:** [ ]

**5. Calculation of registration fee:**

- **(i) Aggregate sale price of securities sold during the fiscal year:** $4206840176.00

- **(ii) Aggregate price of securities redeemed or repurchased during the fiscal year:** $4916274585.00

- **(iii) Aggregate price of securities redeemed or repurchased during any prior fiscal year:** $11458473381.00

- **(iv) Total available redemption credits [add Items 5(ii) and 5(iii)]:** $16374747966.00

- **(v) Net sales:** $0.00

- **(vi) Redemption credits available for use in future years:** $-12167907790.00

- **(vii) Multiplier for determining registration fee:** 0.000138100

- **(viii) Registration fee due:** $0.00

**Signatures**

**Name and Title:** Carol D. Trevino, Treasurer and Principal Financial Officer

**Date:** 05/21/2026

**Signature:** /s/ Carol D. Trevino