# EDGAR Filing Document

**Accession Number:** 0000802716
**File Stem:** 0001004726-26-001360
**Filing Date:** 2026-2
**Character Count:** 24078
**Document Hash:** c67e7fac2c454efdd209c58704135ccc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001004726-26-001360.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0001004726-26-001360

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260227

**DATE AS OF CHANGE**: 20260227

**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:** 26695728

**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 Value Fund (Series ID: S000053562)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000168336 | Class A      | RSVAX           |
| C000168337 | Class C      | RVACX           |
| C000168339 | Class Y      | RSVYX           |

## 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:** 15935 La Cantera Parkway Building Two

  - **City:** San Antonio

  - **State:** TX

  - **Foreign country:** US

  - **Zip / Postal Code:** 78256

  - **Telephone number:** 800-539-3863

**Item A.2. Information about the Series.**

- **a. Name of Series:** Victory RS Value Fund

- **b. EDGAR series identifier (if any):** S000053562

- **c. LEI of Series:** 5493003VFQCJZ7D2E402

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

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

- **b. Date as of which information is reported:** 2025-12-31

**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:** $252730549.13

**Total Liabilities:** $3293681.61

**Net Assets:** $249436867.52

**Cash Not Reported:** $7094807.94

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000168336 | -2.49%               | 4.15%                | -0.12%               |
| Class ID C000168339 | -2.49%               | 4.20%                | -0.09%               |
| Class ID C000168337 | -2.56%               | 4.07%                | -0.18%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $893840.32               | $-7362408.15                               |
| Month 2  | $83166.77                | $10025574.14                               |
| Month 3  | $4345950.26              | $-4882061.26                               |

### 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        |    748617 | NS      | $748617.38    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| TEVA PHARMACEUTICAL INDUSTRIES LIMITED         | TEVA PHARMACEUTICAL INDUSTRIES LTD | CUSIP: 881624209<br>LEI: 549300BAFGM4RC74ZJ94 | Long             |  | CORP              | IL        |    240340 | NS      | $7501011.40   | 3.01%             |  |  |  | No            |                  1 | On Loan: No      |
| COMMVAULT SYSTEMS, INC.                        | COMMVAULT SYSTEMS INC              | CUSIP: 204166102<br>LEI: 65T5VRP62VXG39YFML83 | Long             | EC               | CORP              | US        |     30560 | NS      | $3831001.60   | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| NNN REIT, INC.                                 | NNN REIT INC                       | CUSIP: 637417106<br>LEI: 5493008JKH5SOTI0JS97 | Long             | EC               | CORP              | US        |    149120 | NS      | $5909625.60   | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| SS&C TECHNOLOGIES HOLDINGS, INC.               | SSNC TECHNOLOGIES HLDGS INC        | CUSIP: 78467J100<br>LEI: 529900POY8H7NPPNKK71 | Long             | EC               | CORP              | US        |     80260 | NS      | $7016329.20   | 2.81%             |  |  |  | No            |                  1 | On Loan: No      |
| CBOE GLOBAL MARKETS, INC.                      | CBOE GLOBAL MARKETS INC            | CUSIP: 12503M108<br>LEI: 529900RLNSGA90UPEH54 | Long             | EC               | CORP              | US        |     11210 | NS      | $2813710.00   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| INVESCO GOVERNMENT & AGENCY PORTFOLIO          | INVESCO GVT & AGNCY-INST           | CUSIP: 825252885<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   1346724 | NS      | $1346724.08   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| CENTERPOINT ENERGY, INC.                       | CENTERPOINT ENERGY INC             | CUSIP: 15189T107<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | EC               | CORP              | US        |    156160 | NS      | $5987174.40   | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |
| CUBESMART                                      | CUBESMART                          | CUSIP: 229663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     62440 | NS      | $2250962.00   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| ENCOMPASS HEALTH CORPORATION                   | ENCOMPASS HEALTH CORP              | CUSIP: 29261A100<br>LEI: 549300FVRPM9DRQZRG64 | Long             | EC               | CORP              | US        |     44640 | NS      | $4738089.60   | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| ZEBRA TECHNOLOGIES CORPORATION                 | ZEBRA TECHNOLOGIES CORP            | CUSIP: 989207105<br>LEI: PO0I32GKZ3HZMMDPZZ08 | Long             | EC               | CORP              | US        |     10090 | NS      | $2450053.80   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| MARKETAXESS HOLDINGS INC.                      | MARKETAXESS HOLDINGS INC           | CUSIP: 57060D108<br>LEI: 5493002U1CA1XJOVID83 | Long             | EC               | CORP              | US        |     50080 | NS      | $9077000.00   | 3.64%             |  |  |  | No            |                  1 | On Loan: No      |
| CAMDEN PROPERTY TRUST                          | CAMDEN PROPERTY TRUST              | CUSIP: 133131102<br>LEI: 5493002MYX22OHYJBD89 | Long             | EC               | CORP              | US        |     19010 | NS      | $2092620.80   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| KEURIG DR PEPPER INC.                          | KEURIG DR PEPPER INC               | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |     84885 | NS      | $2377628.85   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| F&G ANNUITIES & LIFE, INC.                     | F G ANNUITIES LIFE INC WI          | CUSIP: 30190A104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4057 | NS      | $125146.11    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| API GROUP CORPORATION                          | API GROUP CORP                     | CUSIP: 00187Y100<br>LEI: 213800NZT1VX6PZ7BT53 | Long             | EC               | CORP              | US        |     96435 | NS      | $3689603.10   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| LITTELFUSE, INC.                               | LITTELFUSE INC                     | CUSIP: 537008104<br>LEI: 549300MY7HLQFYTPCX75 | Long             | EC               | CORP              | US        |     17320 | NS      | $4380574.40   | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| BAKER HUGHES COMPANY                           | BAKER HUGHES CO                    | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     98690 | NS      | $4494342.60   | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Everest Group, Ltd.                            | EVEREST GROUP LTD                  | CUSIP: G3223R108<br>LEI: 549300N24XF2VV0B3570 | Long             | EC               | CORP              | BM        |     11300 | NS      | $3834655.00   | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| FAIRFAX FINANCIAL HOLDINGS LIMITED             | FAIRFAX FINANCIAL HOLDINGS LTD     | CUSIP: 303901102<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | EC               | CORP              | CA        |      2280 | NS      | $4345838.82   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| MAXIMUS, INC.                                  | MAXIMUS INC                        | CUSIP: 577933104<br>LEI: 549300DQCDS8HJ7QF202 | Long             | EC               | CORP              | US        |     45240 | NS      | $3905116.80   | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| CHECK POINT SOFTWARE TECHNOLOGIES LTD.         | CHECK POINT SOFTWARE TECHNOLOGIES  | CUSIP: M22465104<br>LEI: 2549003ZVBH73EPNS513 | Long             | EC               | CORP              | IL        |     26880 | NS      | $4987852.80   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| UMB FINANCIAL CORPORATION                      | UMB FINANCIAL CORP                 | CUSIP: 902788108<br>LEI: 549300MGEH3N3CUCV828 | Long             | EC               | CORP              | US        |     32220 | NS      | $3706588.80   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| L3HARRIS TECHNOLOGIES, INC.                    | L3HARRIS TECHNOLOGIES INC          | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |     11500 | NS      | $3376055.00   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| TRIMBLE INC.                                   | TRIMBLE INC                        | CUSIP: 896239100<br>LEI: 549300E2MI7NSZFQWS19 | Long             | EC               | CORP              | US        |     45190 | NS      | $3540636.50   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| EXPAND ENERGY CORPORATION                      | EXPAND ENERGY CORP                 | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |     34230 | NS      | $3777622.80   | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| CACI INTERNATIONAL INC.                        | CACI INTERNATIONAL INC CLASS A     | CUSIP: 127190304<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | EC               | CORP              | US        |     10110 | NS      | $5386709.10   | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| TFI International Inc.                         | TFI INTERNATIONAL INC              | CUSIP: 87241L109<br>LEI: 5493007R9W7KO7SJN678 | Long             | EC               | CORP              | CA        |     38710 | NS      | $4000678.50   | 1.60%             |  |  |  | No            |                  1 | On Loan: —       |
| NICE LTD                                       | NICE SYSTEM LTD SPONSORED ADR      | CUSIP: 653656108<br>LEI: 254900YTY4EF5Z4W0A51 | Long             |  | CORP              | IL        |     23100 | NS      | $2611224.00   | 1.05%             |  |  |  | No            |                  1 | On Loan: —       |
| UNUM GROUP                                     | UNUM GROUP                         | CUSIP: 91529Y106<br>LEI: 549300E32YFDO6TZ8R31 | Long             | EC               | CORP              | US        |     33430 | NS      | $2590825.00   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUITY LIFESTYLE PROPERTIES, INC.              | EQUITY LIFESTYLE PROPERTIES INC    | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               | CORP              | US        |     68330 | NS      | $4141481.30   | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| WESCO INTERNATIONAL, INC.                      | WESCO INTERNATIONAL                | CUSIP: 95082P105<br>LEI: 529900TXOGREY3WNJ434 | Long             | EC               | CORP              | US        |     21110 | NS      | $5164350.40   | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| OPTION CARE HEALTH, INC.                       | OPTION CARE HEALTH INC             | CUSIP: 68404L201<br>LEI: 549300DI3Q5ACSYJRI17 | Long             | EC               | CORP              | US        |    116200 | NS      | $3702132.00   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRSTENERGY CORP.                              | FIRSTENERGY CORP                   | CUSIP: 337932107<br>LEI: 549300SVYJS666PQJH88 | Long             | EC               | CORP              | US        |    153430 | NS      | $6869061.10   | 2.75%             |  |  |  | No            |                  1 | On Loan: No      |
| THE TIMKEN COMPANY                             | TIMKEN CO                          | CUSIP: 887389104<br>LEI: B0I35MLPFXZSE70ASS73 | Long             | EC               | CORP              | US        |     67320 | NS      | $5663631.60   | 2.27%             |  |  |  | No            |                  1 | On Loan: No      |
| KNIFE RIVER CORPORATION                        | KNIFE RIVER CORP                   | CUSIP: 498894104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     33480 | NS      | $2355318.00   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| PVH CORP.                                      | PVH CORP                           | CUSIP: 693656100<br>LEI: 123WALMHY1GZXG2YDL90 | Long             | EC               | CORP              | US        |     42790 | NS      | $2867785.80   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| BATH & BODY WORKS, INC.                        | BATH BODY WORKS INC                | CUSIP: 070830104<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | EC               | CORP              | US        |    223230 | NS      | $4482458.40   | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| PPL CORPORATION                                | PPL CORP                           | CUSIP: 69351T106<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | EC               | CORP              | US        |    160450 | NS      | $5618959.00   | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| LAM RESEARCH CORPORATION                       | LAM RESEARCH CORP                  | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |     19490 | NS      | $3336298.20   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| NOBLE CORPORATION PLC                          | NOBLE CORP PLC                     | CUSIP: G65431127<br>LEI: 549300I3HBUNXO0OG954 | Long             | EC               | CORP              | GB        |     93030 | NS      | $2627167.20   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Suncor Energy Inc.                             | SUNCOR ENERGY INC                  | CUSIP: 867224107<br>LEI: 549300W70ZOQDVLCHY06 | Long             | EC               | CORP              | CA        |     60730 | NS      | $2693982.80   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| LEIDOS HOLDINGS, INC.                          | LEIDOS HOLDINGS INC                | CUSIP: 525327102<br>LEI: 549300IUTGTP6EJP8124 | Long             | EC               | CORP              | US        |     23670 | NS      | $4270068.00   | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Nomad Foods Limited                            | NOMAD FOODS LTD                    | CUSIP: G6564A105<br>LEI: 5493000ZZ1837DS2SI43 | Long             | EC               | CORP              | VG        |    268530 | NS      | $3359310.30   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIZENS FINANCIAL GROUP, INC.                 | CITIZENS FINANCIAL GROUP INC       | CUSIP: 174610105<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EC               | CORP              | US        |     89880 | NS      | $5249890.80   | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| VALERO ENERGY CORPORATION                      | VALERO ENERGY CORP                 | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |     25670 | NS      | $4178819.30   | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| TAKE-TWO INTERACTIVE SOFTWARE, INC.            | TAKE TWO INTERACTIVE SOFTWARE      | CUSIP: 874054109<br>LEI: BOMSTHHJK882EWYX3334 | Long             | EC               | CORP              | US        |      5590 | NS      | $1431207.70   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| AXALTA COATING SYSTEMS LTD.                    | AXALTA COATING SYSTEMS LTD         | CUSIP: G0750C108<br>LEI: 529900AGLPA40GV6H619 | Long             | EC               | CORP              | BM        |     84370 | NS      | $2725994.70   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| AMETEK, INC.                                   | AMETEK INC                         | CUSIP: 031100100<br>LEI: 549300WZDEF9KKE40E98 | Long             | EC               | CORP              | US        |     28920 | NS      | $5937565.20   | 2.38%             |  |  |  | No            |                  1 | On Loan: No      |
| US FOODS HOLDING CORP.                         | US FOODS HOLDING CORP              | CUSIP: 912008109<br>LEI: 549300UGOZSO64CFPR97 | Long             | EC               | CORP              | US        |     66590 | NS      | $5015558.80   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| FIDELITY NATIONAL FINANCIAL, INC               | FIDELITY NATIONAL FINANCIAL        | CUSIP: 31620R303<br>LEI: 549300CAZYIH39SYQ287 | Long             | EC               | CORP              | US        |     62130 | NS      | $3391676.70   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| EURONET WORLDWIDE, INC.                        | EURONET WORLDWIDE INC              | CUSIP: 298736109<br>LEI: YG3575C4DSHJPA5KET68 | Long             | EC               | CORP              | US        |     53950 | NS      | $4106134.50   | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| TOLL BROTHERS, INC.                            | TOLL BROTHERS INC                  | CUSIP: 889478103<br>LEI: 529900JB6IS9MSZGVR44 | Long             | EC               | CORP              | US        |     22100 | NS      | $2988362.00   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBE LIFE INC.                                | GLOBE LIFE INC                     | CUSIP: 37959E102<br>LEI: 5493001JFHKQOPP6XA71 | Long             | EC               | CORP              | US        |     66200 | NS      | $9258732.00   | 3.71%             |  |  |  | No            |                  1 | On Loan: No      |
| MATTEL, INC.                                   | MATTEL INC                         | CUSIP: 577081102<br>LEI: 549300VELLG24KHTJ564 | Long             | EC               | CORP              | US        |    368890 | NS      | $7318777.60   | 2.93%             |  |  |  | No            |                  1 | On Loan: No      |
| PROSPERITY BANCSHARES, INC.                    | PROSPERITY BANCSHARES INC          | CUSIP: 743606105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     66170 | NS      | $4573008.70   | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS HEALTH CORPORATION                         | CVS HEALTH CORP                    | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |     61520 | NS      | $4882227.20   | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| AGCO CORPORATION                               | AGCO CORP                          | CUSIP: 001084102<br>LEI: LYOM0B2GCF1JWXK5ZG04 | Long             | EC               | CORP              | US        |     38680 | NS      | $4035097.60   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| KEYCORP                                        | KEYCORP                            | CUSIP: 493267108<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | EC               | CORP              | US        |    260980 | NS      | $5386627.20   | 2.16%             |  |  |  | No            |                  1 | 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        |    748617 | NS      | $748617.38    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| MSILF Government Portfolio                     | MSILF GOVERNMENT-INST              | CUSIP: 61747C707<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    150511 | NS      | $150510.66    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-30

**Name of Applicant:** Victory Portfolios

**Signature:** Carol Trevino

**Name of Signer:** Carol Trevino

**Title:** Treasurer