# EDGAR Filing Document

**Accession Number:** 0000908695
**File Stem:** 0001752724-23-011819
**Filing Date:** 2023-1
**Character Count:** 11865
**Document Hash:** 802462497e462fc38b64c5066e2cb8b4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-011819.hdr.sgml**: 20230125

**ACCESSION NUMBER**: 0001752724-23-011819

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230125

**DATE AS OF CHANGE**: 20230125

**PERIOD START**: 20230531

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** USAA MUTUAL FUNDS TRUST
- **CENTRAL INDEX KEY:** 0000908695
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07852
- **FILM NUMBER:** 23550868

**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 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

### Cornerstone Conservative Fund (Series ID: S000037224)

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

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** USAA Mutual Funds Trust

- **b. Investment Company Act file number:** 811-07852

- **c. CIK number of Registrant:** 0000908695

- **d. LEI of Registrant:** 549300WIDR2J6W1Y9S11

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 15935 La Cantera Pkwy Building Two

  - **City:** San Antonio

  - **State:** TX

  - **Foreign country:** US

  - **Zip / Postal Code:** 78256

  - **Telephone number:** 800-235-8396

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

- **a. Name of Series:** Cornerstone Conservative Fund

- **b. EDGAR series identifier (if any):** S000037224

- **c. LEI of Series:** 549300MH9XW7M0ZWBN87

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

- **a. Date of fiscal year-end:** 2023-05-31

- **b. Date as of which information is reported:** 2022-11-30

**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:** $210660603.94

**Total Liabilities:** $45198.55

**Net Assets:** $210615405.39

**Cash Not Reported:** $534859.88

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000114650 | -4.34%               | 1.02%                | 3.73%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $-9798726.09                               |
| Month 2  | $-689718.93              | $2342079.62                                |
| Month 3  | $48029.82                | $7059376.05                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| USAA Mutual Funds Trust: Target Managed Allocation Fund                              | USAA TARGET MANAGED ALLOCATION FUND    | CUSIP: 903287829<br>LEI: N/A                  | Long             |  | RF                | US        |    581717 | NS      | $5380879.20   | 2.55%             |  |  |  | No            |                  1 | On Loan: No      |
| VictoryShares USAA Core Intermediate-Term Bond ETF                                   | VICTORYSHARES USAA CORE INTERM         | CUSIP: 92647N527<br>LEI: N/A                  | Long             |  | RF                | US        |    334133 | NS      | $15317191.33  | 7.27%             |  |  |  | No            |                  1 | On Loan: No      |
| USAA Mutual Funds Trust: Emerging Markets Fund; Institutional Class Shares           | USAA EMERGING MARKETS FUND             | CUSIP: 903288629<br>LEI: N/A                  | Long             |  | RF                | US        |    120040 | NS      | $2183520.51   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| USAA Mutual Funds Trust: International Fund; Institutional Class Shares              | USAA INTERNATIONAL FUND                | CUSIP: 903288637<br>LEI: N/A                  | Long             |  | RF                | US        |    314618 | NS      | $7412403.61   | 3.52%             |  |  |  | No            |                  1 | On Loan: No      |
| USAA Mutual Funds Trust: High Income Fund; Institutional Class Shares                | USAA HIGH INCOME FUND                  | CUSIP: 903288579<br>LEI: N/A                  | Long             |  | RF                | US        |   1706265 | NS      | $11380790.68  | 5.40%             |  |  |  | No            |                  1 | On Loan: No      |
| USAA Mutual Funds Trust: Short-Term Bond Fund; Institutional Class Shares            | USAA SHORT TERM BOND FUND              | CUSIP: 903288587<br>LEI: N/A                  | Long             |  | RF                | US        |    749043 | NS      | $6524166.62   | 3.10%             |  |  |  | No            |                  1 | On Loan: No      |
| VictoryShares Emerging Markets Value Momentum ETF                                    | VICTORYSHARES EMERGING MARKETS         | CUSIP: 92647N543<br>LEI: N/A                  | Long             |  | RF                | US        |     67940 | NS      | $2738661.40   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| VictoryShares US Value Momentum ETF                                                  | VICTORYSHARES US VALUE MOMENTU         | CUSIP: 92647N576<br>LEI: N/A                  | Long             |  | RF                | US        |     81189 | NS      | $5388513.93   | 2.56%             |  |  |  | No            |                  1 | On Loan: No      |
| USAA Mutual Funds Trust: Intermediate-Term Bond Fund; Institutional Class Shares     | USAA INTERMEDIATE TERM BOND FUND       | CUSIP: 903288595<br>LEI: N/A                  | Long             |  | RF                | US        |   4445227 | NS      | $40184851.72  | 19.08%            |  |  |  | No            |                  1 | On Loan: No      |
| USAA Mutual Funds Trust: Precious Metals & Minerals Fund; Institutional Class Shares | USAA PRECIOUS METALS AND MINERALS FUND | CUSIP: 903288561<br>LEI: N/A                  | Long             |  | RF                | US        |     61676 | NS      | $1020127.66   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| USAA Mutual Funds Trust: Income Stock Fund; Institutional Class Shares               | USAA INCOME STOCK FUND                 | CUSIP: 903288660<br>LEI: N/A                  | Long             |  | RF                | US        |     91271 | NS      | $1789818.43   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| USAA Mutual Funds Trust: Value Fund; Institutional Class Shares                      | USAA VALUE FUND                        | CUSIP: 903288652<br>LEI: N/A                  | Long             |  | RF                | US        |    101192 | NS      | $1844736.18   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| VictoryShares USAA Core Short-Term Bond ETF                                          | VICTORYSHARES USAA CORE SHORT          | CUSIP: 92647N535<br>LEI: N/A                  | Long             |  | RF                | US        |    669201 | NS      | $32597851.43  | 15.48%            |  |  |  | No            |                  1 | On Loan: No      |
| USAA Mutual Funds Trust: Government Securities Fund; Institutional Class Shares      | USAA GOVERNMENT SECURITIES FUND        | CUSIP: 903287787<br>LEI: N/A                  | Long             |  | RF                | US        |   3595096 | NS      | $31744698.30  | 15.07%            |  |  |  | No            |                  1 | On Loan: No      |
| VictoryShares Small Mid Cap Value Momentum ETF                                       | VICTORYSHARES US SMALL MID CAP         | CUSIP: 92647N568<br>LEI: N/A                  | Long             |  | RF                | US        |     18550 | NS      | $1243406.50   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Victory Portfolios II: Victory Market Neutral Income Fund; Class I Shares            | VICTORY MARKET NEUTRAL INCOME FUND     | CUSIP: 92647P654<br>LEI: 549300K0CUZCEEMBX789 | Long             |  | RF                | US        |    498538 | NS      | $4491831.89   | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| USAA Mutual Funds Trust: Small Cap Stock Fund; Institutional Class Shares            | USAA SMALL CAP STOCK FUND              | CUSIP: 903288645<br>LEI: N/A                  | Long             |  | RF                | US        |    101426 | NS      | $1322593.74   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| USAA Mutual Funds Trust: Growth Fund; Institutional Class Shares                     | USAA GROWTH FUND                       | CUSIP: 903288678<br>LEI: N/A                  | Long             |  | RF                | US        |     59004 | NS      | $1556533.70   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| USAA Mutual Funds Trust: 500 Index Fund; Reward Shares                               | USAA S P 500 INDEX RWRD                | CUSIP: 903288769<br>LEI: N/A                  | Long             |  | RF                | US        |    191905 | NS      | $10144091.43  | 4.82%             |  |  |  | No            |                  1 | On Loan: No      |
| USAA Mutual Funds Trust: Income Fund; Institutional Class Shares                     | USAA INCOME FUND                       | CUSIP: 903288611<br>LEI: N/A                  | Long             |  | RF                | US        |   1729631 | NS      | $19371865.30  | 9.20%             |  |  |  | No            |                  1 | On Loan: No      |
| VictoryShares International Value Momentum ETF                                       | VICTORYSHARES INTERNATIONAL VA         | CUSIP: 92647N550<br>LEI: N/A                  | Long             |  | RF                | US        |    113561 | NS      | $4744056.20   | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| USAA Mutual Funds Trust: Nasdaq-100 Index Fund; Class R6 Shares                      | USAA NASDAQ 100 INDEX FUND             | CUSIP: 90291A700<br>LEI: N/A                  | Long             |  | RF                | US        |     47363 | NS      | $1515156.45   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2022-12-30

**Name of Applicant:** USAA Mutual Funds Trust

**Signature:** James K. De Vries

**Name of Signer:** James K. De Vries

**Title:** Treasurer