# EDGAR Filing Document

**Accession Number:** 0000802716
**File Stem:** 0001004726-25-002181
**Filing Date:** 2025-11
**Character Count:** 42857
**Document Hash:** 263e9ce951fe15d6d40018d69d2846ad
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001004726-25-002181.hdr.sgml**: 20251125

**ACCESSION NUMBER**: 0001004726-25-002181

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251125

**DATE AS OF CHANGE**: 20251125

**PERIOD START**: 20260630

**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:** 251520120

**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 Integrity Small/Mid-Cap Value Fund (Series ID: S000046398)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000144993 | Class A      | MAISX           |
| C000144994 | Class Y      | MYISX           |
| C000155526 | Class R6     | MIRSX           |
| C000219864 | Member Class | MMMSX           |

## 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 Integrity Small/Mid-Cap Value Fund

- **b. EDGAR series identifier (if any):** S000046398

- **c. LEI of Series:** 549300BZ2CQ68TGCQK29

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

- **a. Date of fiscal year-end:** 2026-06-30

- **b. Date as of which information is reported:** 2025-09-30

**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:** $324961942.07

**Total Liabilities:** $6860543.75

**Net Assets:** $318101398.32

**Cash Not Reported:** $3825299.05

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000144994 | 2.10%                | 6.67%                | 0.00%                |
| Class ID C000155526 | 2.04%                | 6.69%                | 0.00%                |
| Class ID C000219864 | 2.05%                | 6.69%                | 0.00%                |
| Class ID C000144993 | 2.08%                | 6.63%                | 0.00%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1960910.83              | $4484099.72                                |
| Month 2  | $1426266.19              | $19567899.66                               |
| Month 3  | $1978074.59              | $-2269509.05                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BREAD FINANCIAL HOLDINGS, INC.                 | BREAD FINANCIAL HOLDINGS               | CUSIP: 018581108<br>LEI: 549300G8S4PO686J7H97 | Long             | EC               | CORP              | US        |     40744 | NS      | $2272292.88   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| SENSATA TECHNOLOGIES HOLDING PLC               | SENSATA TECHNOLOGIES HOLDING           | CUSIP: G8060N102<br>LEI: 529900MS7KFYCY9MS037 | Long             | EC               | CORP              | GB        |    100117 | NS      | $3058574.35   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| ENVISTA HOLDINGS CORPORATION                   | ENVISTA HOLDINGS CORP                  | CUSIP: 29415F104<br>LEI: 549300BX623VURJZ5269 | Long             | EC               | CORP              | US        |    106919 | NS      | $2177940.03   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| SYNAPTICS INCORPORATED                         | SYNAPTICS INCORPORATED                 | CUSIP: 87157D109<br>LEI: 549300AJ3LI4FWNRQX29 | Long             | EC               | CORP              | US        |     41866 | NS      | $2861122.44   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| BELDEN INC.                                    | BELDEN INC                             | CUSIP: 077454106<br>LEI: 68BKYO1JC791TTJHUE82 | Long             | EC               | CORP              | US        |     21633 | NS      | $2601800.91   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST AMERICAN FINANCIAL CORPORATION           | FIRST AMERICAN FINANCIAL CORP          | CUSIP: 31847R102<br>LEI: 549300B6VEZK3N0A1P55 | Long             | EC               | CORP              | US        |     44312 | NS      | $2846602.88   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| THE BRINK'S COMPANY                            | BRINK S CO THE                         | CUSIP: 109696104<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | EC               | CORP              | US        |     28437 | NS      | $3323147.82   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Gaming and Leisure Properties, Inc.            | GAMING AND LEISURE PROPERTIE           | CUSIP: 36467J108<br>LEI: 5493006GWRDBCZYWTM57 | Long             | EC               | CORP              | US        |     80546 | NS      | $3754249.06   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| ARTISAN PARTNERS ASSET MANAGEMENT INC.         | ARTISAN PARTNERS ASSET MA A            | CUSIP: 04316A108<br>LEI: 549300T1FUI6JF63XU51 | Long             | EC               | CORP              | US        |     59006 | NS      | $2560860.40   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| VIRTUS INVESTMENT PARTNERS, INC.               | VIRTUS INVESTMENT PARTNERS INC         | CUSIP: 92828Q109<br>LEI: 549300HWF93HB8BDM648 | Long             | EC               | CORP              | US        |     13030 | NS      | $2476090.90   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| VERITEX HOLDINGS, INC.                         | VERITEX HOLDINGS INC                   | CUSIP: 923451108<br>LEI: 549300F3SMOML02SC814 | Long             | EC               | CORP              | US        |     88900 | NS      | $2980817.00   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| HIGHWOODS PROPERTIES, INC.                     | HIGHWOODS PROPERTIES INC               | CUSIP: 431284108<br>LEI: ZIIGTYKL9T0X3HLTDX53 | Long             | EC               | CORP              | US        |     90017 | NS      | $2864340.94   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| WESCO INTERNATIONAL, INC.                      | WESCO INTERNATIONAL                    | CUSIP: 95082P105<br>LEI: 529900TXOGREY3WNJ434 | Long             | EC               | CORP              | US        |     17375 | NS      | $3674812.50   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| TOPBUILD CORP.                                 | TOPBUILD CORP                          | CUSIP: 89055F103<br>LEI: 5493007YSKHOL4RWII46 | Long             | EC               | CORP              | US        |      6422 | NS      | $2510102.92   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| BRUNSWICK CORPORATION                          | BRUNSWICK CORP                         | CUSIP: 117043109<br>LEI: YM4O38W15AX4YLLQKU27 | Long             | EC               | CORP              | US        |     31410 | NS      | $1986368.40   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Post Holdings, Inc.                            | POST HOLDINGS INC                      | CUSIP: 737446104<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | EC               | CORP              | US        |     19783 | NS      | $2126276.84   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Amdocs Limited                                 | AMDOCS LTD                             | CUSIP: G02602103<br>LEI: 549300HQV672RJ7RQV66 | Long             | EC               | CORP              | GG        |     39079 | NS      | $3206431.95   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CACI INTERNATIONAL INC.                        | CACI INTERNATIONAL INC CLASS A         | CUSIP: 127190304<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | EC               | CORP              | US        |      5283 | NS      | $2635054.74   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| SALLY BEAUTY HOLDINGS, INC.                    | SALLY BEAUTY HOLDINGS INC              | CUSIP: 79546E104<br>LEI: 529900VXW6E8ONDIQ271 | Long             | EC               | CORP              | US        |    201000 | NS      | $3272280.00   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| THE GOODYEAR TIRE & RUBBER COMPANY             | GOODYEAR TIRE RUBBER CO THE            | CUSIP: 382550101<br>LEI: 5493002BI0S2ZQUY3437 | Long             | EC               | CORP              | US        |    264123 | NS      | $1975640.04   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST INTERSTATE BANCSYSTEM, INC.              | FIRST INTERSTATE BANCSYS A             | CUSIP: 32055Y201<br>LEI: 549300WRWYTYX0RCNJ43 | Long             | EC               | CORP              | US        |     87910 | NS      | $2801691.70   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| LINCOLN NATIONAL CORPORATION                   | LINCOLN NATIONAL CORP                  | CUSIP: 534187109<br>LEI: EFQMQROEDSNBRIP7LE47 | Long             | EC               | CORP              | US        |     62879 | NS      | $2535910.07   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| VALLEY NATIONAL BANCORP                        | VALLEY NATIONAL BANCORP                | CUSIP: 919794107<br>LEI: 549300ET52S1UBIB9762 | Long             | EC               | CORP              | US        |    321822 | NS      | $3411313.20   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| LIONSGATE STUDIOS CORP.                        | LIONSGATE STUDIOS CORP                 | CUSIP: 53626N102<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    188817 | NS      | $1302837.30   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST INDUSTRIAL REALTY TRUST, INC.            | FIRST INDUSTRIAL REALTY TRUST          | CUSIP: 32054K103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     70761 | NS      | $3642068.67   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| UGI CORPORATION                                | UGI CORP                               | CUSIP: 902681105<br>LEI: DX6GCWD4Q1JO9CRE5I40 | Long             | EC               | CORP              | US        |     92354 | NS      | $3071694.04   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| KIRBY CORPORATION                              | KIRBY CORP                             | CUSIP: 497266106<br>LEI: I7NO6FZO5GUCG585T325 | Long             | EC               | CORP              | US        |     27715 | NS      | $2312816.75   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| W.P. CAREY INC.                                | WP CAREY INC                           | CUSIP: 92936U109<br>LEI: 54930042CRNE713E3Q67 | Long             | EC               | CORP              | US        |     57770 | NS      | $3903518.90   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| MURPHY OIL CORPORATION                         | MURPHY OIL CORP                        | CUSIP: 626717102<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | EC               | CORP              | US        |     91232 | NS      | $2591901.12   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| COMMERCIAL METALS COMPANY                      | COMMERCIAL METALS COMPANY              | CUSIP: 201723103<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | EC               | CORP              | US        |     56339 | NS      | $3227097.92   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| BJ'S WHOLESALE CLUB HOLDINGS, INC.             | BJ S WHOLESALE CLUB HOLDINGS INC       | CUSIP: 05550J101<br>LEI: 549300UCIWH1C93V0J03 | Long             | EC               | CORP              | US        |     25311 | NS      | $2360250.75   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| CROWN HOLDINGS, INC.                           | CROWN HOLDINGS INC                     | CUSIP: 228368106<br>LEI: NYLWZIOY8PUNIT4JOE22 | Long             | EC               | CORP              | US        |     30093 | NS      | $2906682.87   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| KNIGHT-SWIFT TRANSPORTATION HOLDINGS INC.      | KNIGHT SWIFT TRANSPORTATION            | CUSIP: 499049104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     57370 | NS      | $2266688.70   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| ASSURANT, INC.                                 | ASSURANT INC                           | CUSIP: 04621X108<br>LEI: H3F39CAXWQRVWURFXL38 | Long             | EC               | CORP              | US        |     11381 | NS      | $2465124.60   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| CASEY'S GENERAL STORES, INC.                   | CASEY S GENERAL STORES INC             | CUSIP: 147528103<br>LEI: 549300CAFWSI86V66Q65 | Long             | EC               | CORP              | US        |      6225 | NS      | $3519117.00   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Evergy, Inc.                                   | EVERGY INC                             | CUSIP: 30034W106<br>LEI: 549300PGTHDQY6PSUI61 | Long             | EC               | CORP              | US        |     39012 | NS      | $2965692.24   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| VISTEON CORPORATION                            | VISTEON CORP                           | CUSIP: 92839U206<br>LEI: 549300MOVLYHRW4GGW78 | Long             | EC               | CORP              | US        |     23596 | NS      | $2828216.56   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| AVIENT CORPORATION                             | AVIENT CORP                            | CUSIP: 05368V106<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | EC               | CORP              | US        |     59473 | NS      | $1959635.35   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| LIBERTY MEDIA CORP - FORMULA ONE GROUP         | LIBERTY MEDIA CORP - FORMULA ONE GROUP | CUSIP: 531229755<br>LEI: 549300ZKUTPIBZLWLL89 | Long             | EC               | CORP              | US        |     25957 | NS      | $2711208.65   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST HORIZON CORPORATION                      | FIRST HORIZON CORP                     | CUSIP: 320517105<br>LEI: TF3RXI1ZB1TQ30H9JV10 | Long             | EC               | CORP              | US        |    153202 | NS      | $3463897.22   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| MKS INC.                                       | MKS INC                                | CUSIP: 55306N104<br>LEI: 549300KEQATBHAGVF505 | Long             | EC               | CORP              | US        |     28000 | NS      | $3465560.00   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXSTAR MEDIA GROUP, INC.                      | NEXSTAR MEDIA GROUP INC                | CUSIP: 65336K103<br>LEI: 52990083ZRR5UT591988 | Long             | EC               | CORP              | US        |     14058 | NS      | $2779828.92   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| BRIGHTHOUSE FINANCIAL, INC.                    | BRIGHTHOUSE FINANCIAL INC              | CUSIP: 10922N103<br>LEI: 5493003T8SZSHOGGAW52 | Long             | EC               | CORP              | US        |     45000 | NS      | $2388600.00   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| ANTERO RESOURCES CORPORATION                   | ANTERO RESOURCES CORP                  | CUSIP: 03674X106<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | EC               | CORP              | US        |     69861 | NS      | $2344535.16   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| THE MOSAIC COMPANY                             | THE MOSAIC CO                          | CUSIP: 61945C103<br>LEI: 2YD5STGSJNMUB7H76907 | Long             | EC               | CORP              | US        |     87648 | NS      | $3039632.64   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| AXALTA COATING SYSTEMS LTD.                    | AXALTA COATING SYSTEMS LTD             | CUSIP: G0750C108<br>LEI: 529900AGLPA40GV6H619 | Long             | EC               | CORP              | BM        |     78881 | NS      | $2257574.22   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| PERRIGO COMPANY PUBLIC LIMITED COMPANY         | PERRIGO CO PLC                         | CUSIP: G97822103<br>LEI: 549300IFOQS6R1QLY196 | Long             | EC               | CORP              | IE        |     76309 | NS      | $1699401.43   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| FEDERAL REALTY INVESTMENT TRUST                | FEDERAL REALTY INVESTMENT TRUST        | CUSIP: 313745101<br>LEI: 549300FHEI1SLVZ0RB48 | Long             | EC               | CORP              | US        |     36219 | NS      | $3669346.89   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| PENTAIR PUBLIC LIMITED COMPANY                 | PENTAIR PLC                            | CUSIP: G7S00T104<br>LEI: 549300EVR9D56WPSRP15 | Long             | EC               | CORP              | IE        |     22900 | NS      | $2536404.00   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| F5, INC.                                       | F5 Inc                                 | CUSIP: 315616102<br>LEI: 54930015FPK9KT966303 | Long             | EC               | CORP              | US        |     11591 | NS      | $3746095.29   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| JACOBS SOLUTIONS INC.                          | JACOBS SOLUTIONS INC                   | CUSIP: 46982L108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17259 | NS      | $2586433.74   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| SEALED AIR CORPORATION                         | SEALED AIR CORP                        | CUSIP: 81211K100<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | EC               | CORP              | US        |     82127 | NS      | $2903189.45   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| INDEPENDENT BANK CORP.                         | INDEPENDENT BANK CORP                  | CUSIP: 453836108<br>LEI: 549300C5K3W8THR3GE10 | Long             | EC               | CORP              | US        |     38604 | NS      | $2670238.68   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| TENET HEALTHCARE CORPORATION                   | TENET HEALTHCARE CORP                  | CUSIP: 88033G407<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | EC               | CORP              | US        |     14194 | NS      | $2881949.76   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| BATH & BODY WORKS, INC.                        | BATH BODY WORKS INC                    | CUSIP: 070830104<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | EC               | CORP              | US        |     87571 | NS      | $2255828.96   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| DOLLAR TREE, INC.                              | DOLLAR TREE INC                        | CUSIP: 256746108<br>LEI: 549300PMSTQITB1WHR43 | Long             | EC               | CORP              | US        |     24460 | NS      | $2308290.20   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| QORVO, INC.                                    | QORVO INC                              | CUSIP: 74736K101<br>LEI: 254900YAUJV2EUEVBR11 | Long             | EC               | CORP              | US        |     38375 | NS      | $3495195.00   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| PINNACLE WEST CAPITAL CORPORATION              | PINNACLE WEST CAPITAL CORP             | CUSIP: 723484101<br>LEI: TWSEY0NEDUDCKS27AH81 | Long             | EC               | CORP              | US        |     27198 | NS      | $2438572.68   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| VALMONT INDUSTRIES, INC.                       | VALMONT INDUSTRIES INC                 | CUSIP: 920253101<br>LEI: 5493009ZGZJJ8F77JN08 | Long             | EC               | CORP              | US        |     10575 | NS      | $4100244.75   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| RYDER SYSTEM, INC.                             | RYDER SYSTEM INC                       | CUSIP: 783549108<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | EC               | CORP              | US        |     15102 | NS      | $2848841.28   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| C.H. ROBINSON WORLDWIDE, INC.                  | CH ROBINSON WORLDWIDE INC              | CUSIP: 12541W209<br>LEI: 529900WNWN5L0OVDHA79 | Long             | EC               | CORP              | US        |     26942 | NS      | $3567120.80   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| RELIANCE, INC.                                 | RELIANCE INC                           | CUSIP: 759509102<br>LEI: 549300E287ZOFT3C5Z56 | Long             | EC               | CORP              | US        |      7755 | NS      | $2177836.65   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| MARRIOTT VACATIONS WORLDWIDE CORPORATION       | MARRIOTT VACATIONS WORLDWIDE CORP      | CUSIP: 57164Y107<br>LEI: 549300WA6BT5H4F7IO94 | Long             | EC               | CORP              | US        |     35147 | NS      | $2339384.32   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| BUILDERS FIRSTSOURCE, INC.                     | BUILDERS FIRSTSOURCE INC               | CUSIP: 12008R107<br>LEI: 549300W0SKP6L3H7DP63 | Long             | EC               | CORP              | US        |     15951 | NS      | $1934058.75   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| UNUM GROUP                                     | UNUM GROUP                             | CUSIP: 91529Y106<br>LEI: 549300E32YFDO6TZ8R31 | Long             | EC               | CORP              | US        |     38537 | NS      | $2997407.86   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC US GOVERNMENT MONEY MARKET FUND           | HSBC US GOVT MMKT-I                    | CUSIP: 40428X107<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   1644048 | NS      | $1644048.03   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| FLEX LTD.                                      | FLEX LTD                               | CUSIP: Y2573F102<br>LEI: 549300EAQH74YHD07T53 | Long             | EC               | CORP              | SG        |     63431 | NS      | $3677095.07   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBUS MEDICAL, INC.                           | GLOBUS MEDICAL INC                     | CUSIP: 379577208<br>LEI: 5299003M2P4CIK0RF205 | Long             | EC               | CORP              | US        |     50402 | NS      | $2886522.54   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| TD SYNNEX CORPORATION                          | TD SYNNEX CORP                         | CUSIP: 87162W100<br>LEI: 5493004HI6PFLF46NS53 | Long             | EC               | CORP              | US        |     15735 | NS      | $2576606.25   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| WESTERN ALLIANCE BANCORPORATION                | WESTERN ALLIANCE BANCORP               | CUSIP: 957638109<br>LEI: 5493003VJXZ5JXT9S762 | Long             | EC               | CORP              | US        |     37620 | NS      | $3262406.40   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ITT INC.                                       | ITT INC                                | CUSIP: 45073V108<br>LEI: 549300KDSERHTJOXUS80 | Long             | EC               | CORP              | US        |     18966 | NS      | $3390362.16   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| AGNC INVESTMENT CORP.                          | AGNC INVESTMENT CORP                   | CUSIP: 00123Q104<br>LEI: 5TRACI5HRMELWV32OF39 | Long             | EC               | CORP              | US        |    306803 | NS      | $3003601.37   | 0.94%             |  |  |  | No            |                  1 | On Loan: —       |
| GOLDMAN SACHS FINANCIAL SQUARE GOVERNMENT FUND | GLDMN SCHS FIN SQ GV-FST               | CUSIP: 38141W273<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   1644048 | NS      | $1644048.03   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| PROSPERITY BANCSHARES, INC.                    | PROSPERITY BANCSHARES INC              | CUSIP: 743606105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     43421 | NS      | $2880983.35   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTHSTATE BANK CORPORATION                    | SOUTHSTATE BANK CORP                   | CUSIP: 84472E102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     31980 | NS      | $3161862.60   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| JAZZ PHARMACEUTICALS PUBLIC LIMITED COMPANY    | JAZZ PHARMACEUTICALS PLC               | CUSIP: G50871105<br>LEI: 635400GAUMJCLEZRRV50 | Long             | EC               | CORP              | IE        |     21684 | NS      | $2857951.20   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| CACTUS, INC.                                   | CACTUS INC                             | CUSIP: 127203107<br>LEI: 549300J3T8C9F8QFKV08 | Long             | EC               | CORP              | US        |     33457 | NS      | $1320547.79   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| KILROY REALTY CORPORATION                      | KILROY REALTY CORP                     | CUSIP: 49427F108<br>LEI: 549300CXXI18B214UN80 | Long             | EC               | CORP              | US        |     83731 | NS      | $3537634.75   | 1.11%             |  |  |  | No            |                  1 | On Loan: —       |
| TEREX CORPORATION                              | TEREX CORPORATION                      | CUSIP: 880779103<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | EC               | CORP              | US        |     55142 | NS      | $2828784.60   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| VICTORIA'S SECRET & CO.                        | VICTORIA S SECRET CO                   | CUSIP: 926400102<br>LEI: 5493006T3O70U3UWVF17 | Long             | EC               | CORP              | US        |    103336 | NS      | $2804539.04   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| SKYWEST, INC.                                  | SKYWEST INC                            | CUSIP: 830879102<br>LEI: 529900UYS2KGS6Z42P09 | Long             | EC               | CORP              | US        |     25805 | NS      | $2596499.10   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| STEVEN MADDEN, LTD.                            | STEVEN MADDEN LTD                      | CUSIP: 556269108<br>LEI: 549300Z9GZ7GYJWSGF43 | Long             | EC               | CORP              | US        |     77225 | NS      | $2585493.00   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| CORE NATURAL RESOURCES, INC.                   | CORE NATURAL RESOURCES INC             | CUSIP: 218937100<br>LEI: 549300YJCTPJBTK7IJ81 | Long             | EC               | CORP              | US        |     22644 | NS      | $1890321.12   | 0.59%             |  |  |  | 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        |    118625 | NS      | $2921733.75   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| TAYLOR MORRISON HOME CORPORATION               | TAYLOR MORRISON HOME CORP              | CUSIP: 87724P106<br>LEI: 5299009UDLLGLKOOJE30 | Long             | EC               | CORP              | US        |     47285 | NS      | $3121282.85   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| ESSENT GROUP LTD                               | ESSENT GROUP LTD                       | CUSIP: G3198U102<br>LEI: 254900QUO860OUT6ZF83 | Long             | EC               | CORP              | BM        |     46444 | NS      | $2951980.64   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| INGEVITY CORPORATION                           | INGEVITY CORP                          | CUSIP: 45688C107<br>LEI: 5493009UTFC4B5IMGF87 | Long             | EC               | CORP              | US        |     48091 | NS      | $2654142.29   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| EMCOR GROUP, INC.                              | EMCOR GROUP INC                        | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               | CORP              | US        |      2378 | NS      | $1544606.12   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Everest Group, Ltd.                            | EVEREST GROUP LTD                      | CUSIP: G3223R108<br>LEI: 549300N24XF2VV0B3570 | Long             | EC               | CORP              | BM        |      9105 | NS      | $3188844.15   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ENCOMPASS HEALTH CORPORATION                   | ENCOMPASS HEALTH CORP                  | CUSIP: 29261A100<br>LEI: 549300FVRPM9DRQZRG64 | Long             | EC               | CORP              | US        |     20724 | NS      | $2632362.48   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| PERFORMANCE FOOD GROUP COMPANY                 | PERFORMANCE FOOD GROUP CO              | CUSIP: 71377A103<br>LEI: 549300EUK8GR9IT1YK57 | Long             | EC               | CORP              | US        |     32362 | NS      | $3366942.48   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| ADT INC.                                       | ADT INC                                | CUSIP: 00090Q103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    328801 | NS      | $2863856.71   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| MSILF Government Portfolio                     | MSILF GOVERNMENT-INST                  | CUSIP: 61747C707<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   1644048 | NS      | $1644048.01   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| INVESCO GOVERNMENT & AGENCY PORTFOLIO          | INVESCO GVT & AGNCY-INST               | CUSIP: 825252885<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   1644048 | NS      | $1644048.03   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| NEWELL BRANDS INC.                             | NEWELL BRANDS INC                      | CUSIP: 651229106<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | EC               | CORP              | US        |    336890 | NS      | $1765303.60   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED THERAPEUTICS CORPORATION                | UNITED THERAPEUTICS CORP               | CUSIP: 91307C102<br>LEI: 5299005C4HZL4UWROC14 | Long             | EC               | CORP              | US        |      7033 | NS      | $2948303.93   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| JEFFERIES FINANCIAL GROUP INC.                 | JEFFERIES FINANCIAL GROUP INC          | CUSIP: 47233W109<br>LEI: 549300HOF34RGOJ5YL07 | Long             | EC               | CORP              | US        |     54300 | NS      | $3552306.00   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| OSHKOSH CORPORATION                            | OSHKOSH CORP                           | CUSIP: 688239201<br>LEI: 549300FEKNPCFSA2B506 | Long             | EC               | CORP              | US        |     25083 | NS      | $3253265.10   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| CUSHMAN & WAKEFIELD PLC                        | CUSHMAN WAKEFIELD PLC                  | CUSIP: G2717B108<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |    263000 | NS      | $4186960.00   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| LIVANOVA PLC                                   | LIVANOVA PLC                           | CUSIP: G5509L101<br>LEI: 2138001K2FX6SHK2B339 | Long             | EC               | CORP              | GB        |     50436 | NS      | $2641837.68   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| ANNALY CAPITAL MANAGEMENT, INC.                | ANNALY CAPITAL MANAGEMENT INC          | CUSIP: 035710839<br>LEI: 2DTL0G3FPRYUT58TI025 | Long             | EC               | CORP              | US        |    156693 | NS      | $3166765.53   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| PERMIAN RESOURCES CORPORATION                  | PERMIAN RESOURCES CORP COM             | CUSIP: 71424F105<br>LEI: 529900NXUJPOKU7OJ511 | Long             | EC               | CORP              | US        |    137158 | NS      | $1755622.40   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| THE TIMKEN COMPANY                             | TIMKEN CO                              | CUSIP: 887389104<br>LEI: B0I35MLPFXZSE70ASS73 | Long             | EC               | CORP              | US        |     36303 | NS      | $2729259.54   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| OWENS CORNING                                  | OWENS CORNING INC                      | CUSIP: 690742101<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | EC               | CORP              | US        |     20683 | NS      | $2925817.18   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| TEXTRON INC.                                   | TEXTRON INC                            | CUSIP: 883203101<br>LEI: 3PPKBHUG1HD6BO7RNR87 | Long             | EC               | CORP              | US        |     50250 | NS      | $4245622.50   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| GLACIER BANCORP, INC.                          | GLACIER BANCORP INC                    | CUSIP: 37637Q105<br>LEI: 549300SMJAUKZB5D7V74 | Long             | EC               | CORP              | US        |     66812 | NS      | $3251740.04   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| JABIL INC.                                     | JABIL INC                              | CUSIP: 466313103<br>LEI: 5493000CGCQY2OQU7669 | Long             | EC               | CORP              | US        |      9937 | NS      | $2158018.29   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| TALEN ENERGY CORP                              | TALEN ENERGY CORP                      | CUSIP: 87422Q109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5530 | NS      | $2352351.40   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| CAESARS ENTERTAINMENT, INC.                    | CAESARS ENTERTAINMENT INC              | CUSIP: 12769G100<br>LEI: 549300FA4CTCW903Y781 | Long             | EC               | CORP              | US        |     77259 | NS      | $2087924.48   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| DHT HOLDINGS, INC.                             | DHT HOLDINGS INC                       | CUSIP: Y2065G121<br>LEI: 549300SMD6IVZYT74K40 | Long             | EC               | CORP              | MH        |    135500 | NS      | $1619225.00   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| MOHAWK INDUSTRIES, INC.                        | MOHAWK INDUSTRIES INC                  | CUSIP: 608190104<br>LEI: 549300JI1115MG3Q6322 | Long             | EC               | CORP              | US        |     19791 | NS      | $2551455.72   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| SCORPIO TANKERS INC.                           | SCORPIO TANKERS INC                    | CUSIP: Y7542C130<br>LEI: 549300NVJUH16NXG8K87 | Long             | EC               | CORP              | MH        |     54148 | NS      | $3034995.40   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| KORN FERRY                                     | KORN FERRY                             | CUSIP: 500643200<br>LEI: 549300FOD20OM0GT5G40 | Long             | EC               | CORP              | US        |     36608 | NS      | $2561827.84   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| NATIONAL FUEL GAS COMPANY                      | NATIONAL FUEL GAS CO                   | CUSIP: 636180101<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | EC               | CORP              | US        |     29550 | NS      | $2729533.50   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| FLAGSTAR FINANCIAL, INC.                       | FLAGSTAR FINANCIAL INC                 | CUSIP: 649445400<br>LEI: 529900HVXOTLY61GL030 | Long             | EC               | CORP              | US        |    303750 | NS      | $3508312.50   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| CAMDEN PROPERTY TRUST                          | CAMDEN PROPERTY TRUST                  | CUSIP: 133131102<br>LEI: 5493002MYX22OHYJBD89 | Long             | EC               | CORP              | US        |     32692 | NS      | $3490851.76   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-30

**Name of Applicant:** Victory Portfolios

**Signature:** Carol Trevino

**Name of Signer:** Carol Trevino

**Title:** Treasurer