# EDGAR Filing Document

**Accession Number:** 0000802716
**File Stem:** 0001004726-25-002224
**Filing Date:** 2025-11
**Character Count:** 31666
**Document Hash:** ecd166fb84c128bf99039745dd311c59
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001004726-25-002224.hdr.sgml**: 20251125

**ACCESSION NUMBER**: 0001004726-25-002224

**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**: 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:** 251520305

**BUSINESS ADDRESS:**
- **STREET 1:** 4900 TIEDEMAN ROAD
- **CITY:** BROOKLYN
- **STATE:** OH
- **ZIP:** 44144
- **BUSINESS PHONE:** 6144708000

**MAIL ADDRESS:**
- **STREET 1:** 4900 TIEDEMAN ROAD
- **CITY:** BROOKLYN
- **STATE:** OH
- **ZIP:** 44144

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SOCIETY FUNDS
- **DATE OF NAME CHANGE:** 19940906

## Series and Classes Contracts Data

### Victory RS International Fund (Series ID: S000053564)

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

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Victory Portfolios

- **b. Investment Company Act file number:** 811-04852

- **c. CIK number of Registrant:** 0000802716

- **d. LEI of Registrant:** 549300V07N3HJP1EW330

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

  - **Street Address 1:** 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 International Fund

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

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

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

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

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

**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:** $530761601.02

**Total Liabilities:** $2912102.52

**Net Assets:** $527849498.50

**Cash Not Reported:** $8032347.91

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000168346 | -3.31%               | 4.25%                | 1.76%                |
| Class ID C000168344 | -3.23%               | 4.27%                | 1.74%                |
| Class ID C000168345 | -3.32%               | 4.30%                | 1.65%                |
| Class ID C000168347 | -3.22%               | 4.28%                | 1.82%                |
| Class ID C000213174 | -3.23%               | 4.35%                | 1.74%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1902613.25              | $-18531073.54                              |
| Month 2  | $-940079.21              | $21748326.01                               |
| Month 3  | $2192785.52              | $5957753.41                                |

### 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        |    607846 | NS      | $607846.42    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| CTS Eventim AG & Co. KGaA                      | CTS EVENTIM AG CO KGAA              | CUSIP: N/A<br>LEI: 529900FDHSN08UBJII80       | Long             | EC               | CORP              | DE        |     37511 | NS      | $3682157.49   | 0.70%             |  |  |  | No            |                  2 | On Loan: —       |
| Fujitsu Limited                                | FUJITSU LTD                         | CUSIP: N/A<br>LEI: 3538000246DHJLRTUZ24       | Long             | EC               | CORP              | JP        |    272700 | NS      | $6397733.01   | 1.21%             |  |  |  | No            |                  2 | On Loan: No      |
| ARKEMA SA                                      | ARKEMA SA                           | CUSIP: N/A<br>LEI: 9695000EHMS84KKP2785       | Long             | EC               | CORP              | FR        |     57292 | NS      | $3632314.52   | 0.69%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsubishi Heavy Industries, Ltd.              | MITSUBISHI HEAVY INDUSTRIES LT      | CUSIP: N/A<br>LEI: 353800TJ98PCAZROVE69       | Long             | EC               | CORP              | JP        |    359400 | NS      | $9406125.89   | 1.78%             |  |  |  | No            |                  2 | On Loan: No      |
| Aena, S.M.E., S.A.                             | AENA SME SA                         | CUSIP: E526LK101<br>LEI: 959800R7QMXKF0NFMT29 | Long             | EC               |  | ES        |    248015 | NS      | $6779699.41   | 1.28%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Novartis AG                                    | NOVARTIS AG                         | CUSIP: N/A<br>LEI: 5493007HIVTX6SY6XD66       | Long             | EC               | CORP              | CH        |    113650 | NS      | $14615681.09  | 2.77%             |  |  |  | No            |                  2 | On Loan: No      |
| BANCO BPM SOCIETA PER AZIONI                   | BANCO BPM SPA                       | CUSIP: N/A<br>LEI: 815600E4E6DCD2D25E30       | Long             | EC               | CORP              | IT        |    450788 | NS      | $6764795.20   | 1.28%             |  |  |  | No            |                  2 | On Loan: No      |
| UNILEVER PLC                                   | UNILEVER PLC                        | CUSIP: N/A<br>LEI: 549300MKFYEKVRWML317       | Long             | EC               | CORP              | GB        |     79816 | NS      | $4717113.36   | 0.89%             |  |  |  | No            |                  2 | On Loan: No      |
| ASM International N.V.                         | ASM INTERNATIONAL NV                | CUSIP: N/A<br>LEI: 7245001I22ND6ZFHX623       | Long             | EC               | CORP              | NL        |      8631 | NS      | $5205125.80   | 0.99%             |  |  |  | No            |                  2 | On Loan: No      |
| Koninklijke KPN N.V.                           | KONINKLIJKE KPN NV                  | CUSIP: N/A<br>LEI: 549300YO0JZHAL7FVP81       | Long             | EC               | CORP              | NL        |   1102688 | NS      | $5291724.02   | 1.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ING Groep N.V.                                 | ING GROEP NV                        | CUSIP: N/A<br>LEI: 549300NYKK9MWM7GGW15       | Long             | EC               | CORP              | NL        |    445721 | NS      | $11683433.37  | 2.21%             |  |  |  | No            |                  2 | On Loan: No      |
| CSL LIMITED                                    | CSL LTD                             | CUSIP: N/A<br>LEI: 529900ECSECK5ZDQTE14       | Long             | EC               | CORP              | AU        |     20655 | NS      | $2716257.76   | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| RIO TINTO PLC                                  | RIO TINTO PLC                       | CUSIP: N/A<br>LEI: 213800YOEO5OQ72G2R82       | Long             | EC               | CORP              | GB        |    115222 | NS      | $7592283.65   | 1.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Nippon Yusen Kabushiki Kaisha                  | NIPPON YUSEN KK                     | CUSIP: N/A<br>LEI: 353800YPW4XM0ZN5I149       | Long             | EC               | CORP              | JP        |    122800 | NS      | $4190991.62   | 0.79%             |  |  |  | No            |                  2 | On Loan: No      |
| KONGSBERG GRUPPEN ASA                          | KONGSBERG GRUPPEN ASA               | CUSIP: N/A<br>LEI: 5967007LIEEXZXJ9HK73       | Long             | EC               | CORP              | NO        |    155200 | NS      | $4962287.57   | 0.94%             |  |  |  | No            |                  2 | On Loan: No      |
| IMPERIAL BRANDS PLC                            | IMPERIAL BRANDS PLC                 | CUSIP: N/A<br>LEI: 549300DFVPOB67JL3A42       | Long             | EC               | CORP              | GB        |    219056 | NS      | $9304428.30   | 1.76%             |  |  |  | No            |                  2 | On Loan: No      |
| Shionogi & Co., Ltd.                           | SHIONOGI CO LTD                     | CUSIP: N/A<br>LEI: 35380049VXDTHZI3DY35       | Long             | EC               | CORP              | JP        |    307600 | NS      | $5420416.21   | 1.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Mizuho Financial Group, Inc.                   | MIZUHO FINANCIAL GROUP INC          | CUSIP: N/A<br>LEI: 353800CI5L6DDAN5XZ33       | Long             | EC               | CORP              | JP        |    293500 | NS      | $9867253.30   | 1.87%             |  |  |  | No            |                  2 | On Loan: No      |
| Logitech international S.A.                    | LOGITECH INTERNATIONAL SA           | CUSIP: N/A<br>LEI: 549300SN6PRK6IJJC215       | Long             | EC               | CORP              | CH        |     40499 | NS      | $4455665.02   | 0.84%             |  |  |  | No            |                  2 | On Loan: No      |
| Sanwa Holdings Corporation                     | SANWA HOLDINGS CORP                 | CUSIP: N/A<br>LEI: 5299003X6BCA4ROO5A70       | Long             | EC               | CORP              | JP        |    215600 | NS      | $6164301.84   | 1.17%             |  |  |  | No            |                  2 | On Loan: No      |
| MISUMI Group Inc.                              | MISUMI GROUP INC                    | CUSIP: J43293109<br>LEI: 353800SJWGE5BEK2V032 | Long             | EC               | CORP              | JP        |    160500 | NS      | $2500022.39   | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Nordea Bank Abp                                | NORDEA BANK ABP                     | CUSIP: N/A<br>LEI: 529900ODI3047E2LIV03       | Long             | EC               | CORP              | FI        |    422801 | NS      | $6960021.37   | 1.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Allianz SE                                     | ALLIANZ SE                          | CUSIP: N/A<br>LEI: 529900K9B0N5BT694847       | Long             | EC               | CORP              | DE        |     34259 | NS      | $14411855.25  | 2.73%             |  |  |  | No            |                  2 | On Loan: No      |
| RWE Aktiengesellschaft                         | RWE AG                              | CUSIP: N/A<br>LEI: 529900GB7KCA94ACC940       | Long             | EC               | CORP              | DE        |    100741 | NS      | $4480260.84   | 0.85%             |  |  |  | No            |                  2 | On Loan: No      |
| GAZTRANSPORT ET TECHNIGAZ SA                   | GAZTRANSPORT ET TECHNIGAZ SA        | CUSIP: N/A<br>LEI: 969500BVOHVZUUFWDT54       | Long             | EC               | CORP              | FR        |     15143 | NS      | $2811709.93   | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| Melexis NV                                     | MELEXIS NV                          | CUSIP: N/A<br>LEI: 549300QRPSGOJRPUFO80       | Long             | EC               | CORP              | BE        |     29109 | NS      | $2320149.99   | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Roche Holding AG                               | ROCHE HOLDING AG                    | CUSIP: N/A<br>LEI: 549300U41AUUVOAAOB37       | Long             | EC               | CORP              | CH        |     40433 | NS      | $13466058.00  | 2.55%             |  |  |  | No            |                  2 | On Loan: No      |
| SAFRAN SA                                      | SAFRAN SA                           | CUSIP: N/A<br>LEI: 969500UIC89GT3UL7L24       | Long             | EC               | CORP              | FR        |     32462 | NS      | $11518298.49  | 2.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Sumitomo Realty & Development Co., Ltd.        | SUMITOMO REALTY DEVELOPMENT         | CUSIP: N/A<br>LEI: 353800SO2DCLOI3LNZ64       | Long             | EC               | CORP              | JP        |    133100 | NS      | $5871554.77   | 1.11%             |  |  |  | No            |                  2 | On Loan: No      |
| AIA Group Limited                              | AIA GROUP LTD                       | CUSIP: N/A<br>LEI: ZP5ILWVSYE4LJGMMVD57       | Long             | EC               | CORP              | HK        |    995400 | NS      | $9540183.04   | 1.81%             |  |  |  | No            |                  2 | On Loan: No      |
| MSILF Government Portfolio                     | MSILF GOVERNMENT-INST               | CUSIP: 61747C707<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    607846 | NS      | $607846.42    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| VOLKSWAGEN AKTIENGESELLSCHAFT                  | VOLKSWAGEN AG                       | CUSIP: N/A<br>LEI: 529900NNUPAGGOMPXZ31       | Long             | EC               | CORP              | DE        |     50906 | NS      | $5516985.53   | 1.05%             |  |  |  | No            |                  2 | On Loan: No      |
| ORACLE CORPORATION JAPAN                       | ORACLE CORP JAPAN                   | CUSIP: N/A<br>LEI: 529900MIMKY9RU60Z323       | Long             | EC               | CORP              | JP        |     47000 | NS      | $4799332.45   | 0.91%             |  |  |  | No            |                  2 | On Loan: No      |
| AUTO TRADER GROUP PLC                          | AUTO TRADER GROUP PLC               | CUSIP: N/A<br>LEI: 213800QLK9BZILB1DI86       | Long             | EC               | CORP              | GB        |    410273 | NS      | $4357799.48   | 0.83%             |  |  |  | Yes           |                  2 | On Loan: No      |
| EIFFAGE SA                                     | EIFFAGE SA                          | CUSIP: N/A<br>LEI: 969500OQXKE5WDM9M994       | Long             | EC               | CORP              | FR        |     40400 | NS      | $5175307.57   | 0.98%             |  |  |  | No            |                  2 | On Loan: No      |
| DISCO CORPORATION                              | DISCO CORP                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |     21600 | NS      | $6773158.17   | 1.28%             |  |  |  | No            |                  2 | On Loan: No      |
| SHELL PLC                                      | SHELL PLC                           | CUSIP: N/A<br>LEI: 21380068P1DRHMJ8KU70       | Long             | EC               | CORP              | GB        |    295822 | NS      | $10541830.18  | 2.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FUJI ELECTRIC CO., LTD.                        | FUJI ELECTRIC CO LTD                | CUSIP: N/A<br>LEI: 5299000HVNGZZTYYM906       | Long             | EC               | CORP              | JP        |    124100 | NS      | $8319729.62   | 1.58%             |  |  |  | No            |                  2 | On Loan: No      |
| ASML Holding N.V.                              | ASML HOLDING N V                    | CUSIP: N/A<br>LEI: 724500Y6DUVHQD6OXN27       | Long             | EC               | CORP              | NL        |      5368 | NS      | $5234139.80   | 0.99%             |  |  |  | No            |                  2 | On Loan: No      |
| Nestle S.A.                                    | NESTLE SA                           | CUSIP: N/A<br>LEI: KY37LUS27QQX7BB93L28       | Long             | EC               | CORP              | CH        |    116876 | NS      | $10735357.81  | 2.03%             |  |  |  | No            |                  2 | On Loan: No      |
| SCENTRE GROUP                                  | SCENTRE GROUP                       | CUSIP: N/A<br>LEI: N/A                        | Long             |  | RF                | AU        |   2229447 | NS      | $6011823.44   | 1.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Wolters Kluwer N.V.                            | WOLTERS KLUWER NV                   | CUSIP: N/A<br>LEI: 724500TEM53I0U077B74       | Long             | EC               | CORP              | NL        |     38073 | NS      | $5196301.66   | 0.98%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                              | HSBC HOLDINGS PLC                   | CUSIP: N/A<br>LEI: MLU0ZO3ML4LN2LL2TL39       | Long             | EC               | CORP              | GB        |   1078826 | NS      | $15223342.90  | 2.88%             |  |  |  | No            |                  2 | On Loan: No      |
| SAP SE                                         | SAP SE                              | CUSIP: N/A<br>LEI: 529900D6BF99LW9R2E68       | Long             | EC               | CORP              | DE        |     45350 | NS      | $12141710.05  | 2.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Coca-Cola HBC AG                               | COCA COLA HBC AG                    | CUSIP: N/A<br>LEI: 549300EFP3TNG7JGVE49       | Long             | EC               | CORP              | CH        |    132934 | NS      | $6270709.15   | 1.19%             |  |  |  | No            |                  2 | On Loan: No      |
| NOVO NORDISK A/S                               | NOVO NORDISK                        | CUSIP: N/A<br>LEI: 549300DAQ1CVT6CXN342       | Long             | EC               | CORP              | DK        |    129246 | NS      | $7197702.60   | 1.36%             |  |  |  | No            |                  2 | On Loan: No      |
| BP P.L.C.                                      | BP PLC                              | CUSIP: N/A<br>LEI: 213800LH1BZH3DI6G760       | Long             | EC               | CORP              | GB        |    524926 | NS      | $3013495.56   | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| FDJ UNITED                                     | FDJ UNITED                          | CUSIP: N/A<br>LEI: 969500R4CLSQFTYYI535       | Long             | EC               | CORP              | FR        |     12901 | NS      | $432543.42    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| CAPGEMINI SE                                   | CAPGEMINI SA                        | CUSIP: N/A<br>LEI: 96950077L0TN7BAROX36       | Long             | EC               | CORP              | FR        |     13117 | NS      | $1913231.67   | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Essity Aktiebolag (publ)                       | ESSITY AKTIEBOLAG B                 | CUSIP: N/A<br>LEI: 549300G8E6YUVJ1DA153       | Long             | EC               | CORP              | SE        |     20565 | NS      | $537813.82    | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| SOLVAY SA                                      | SOLVAY SA                           | CUSIP: N/A<br>LEI: 549300MMVL80RTBP3O28       | Long             | EC               | CORP              | BE        |     72749 | NS      | $2316193.81   | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| L'OREAL SA                                     | L OREAL SA                          | CUSIP: N/A<br>LEI: 529900JI1GG6F7RKVI53       | Long             | EC               | CORP              | FR        |     20319 | NS      | $8827226.05   | 1.67%             |  |  |  | No            |                  2 | On Loan: No      |
| Pandora A/S                                    | PANDORA A S                         | CUSIP: N/A<br>LEI: 5299007OWYZ6I1E46843       | Long             | EC               | CORP              | DK        |     32831 | NS      | $4293209.70   | 0.81%             |  |  |  | No            |                  2 | On Loan: No      |
| TOYO SUISAN KAISHA, LTD.                       | TOYO SUISAN KAISHA LTD              | CUSIP: 892306101<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     39100 | NS      | $2793572.44   | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| Partners Group Holding AG                      | PARTNERS GROUP HOLDING AG           | CUSIP: N/A<br>LEI: 549300I3IVVWZWDHI788       | Long             | EC               | CORP              | CH        |      2614 | NS      | $3420829.93   | 0.65%             |  |  |  | No            |                  2 | On Loan: No      |
| SINGAPORE EXCHANGE LIMITED                     | SINGAPORE EXCHANGE LTD              | CUSIP: N/A<br>LEI: 549300IQ650PPXM76X03       | Long             | EC               | CORP              | SG        |    414800 | NS      | $5326393.76   | 1.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Siemens Aktiengesellschaft                     | SIEMENS AG                          | CUSIP: N/A<br>LEI: W38RGI023J3WT1HWRP32       | Long             | EC               | CORP              | DE        |     50345 | NS      | $13590318.94  | 2.57%             |  |  |  | No            |                  2 | On Loan: No      |
| ZOZO, Inc.                                     | ZOZO INC                            | CUSIP: N/A<br>LEI: 549300GC7XPQMZA0OW13       | Long             | EC               | CORP              | JP        |    217300 | NS      | $1996895.51   | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS Group AG                                   | UBS GROUP AG                        | CUSIP: N/A<br>LEI: 549300SZJ9VS8SGXAN81       | Long             | EC               | CORP              | CH        |    196058 | NS      | $8062157.87   | 1.53%             |  |  |  | No            |                  2 | On Loan: No      |
| REXEL SA                                       | REXEL SA                            | CUSIP: N/A<br>LEI: 969500N6AVPA51648T62       | Long             | EC               | CORP              | FR        |    201121 | NS      | $6620712.90   | 1.25%             |  |  |  | No            |                  2 | On Loan: No      |
| CAPCOM CO., LTD.                               | CAPCOM CO LTD                       | CUSIP: N/A<br>LEI: 529900JJWQKXS3TC8744       | Long             | EC               | CORP              | JP        |    118200 | NS      | $3209572.07   | 0.61%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria, S.A.          | BANCO BILBAO VIZCAYA ARGENTARIA SA  | CUSIP: N/A<br>LEI: K8MS7FD7N5Z2WQ51AZ71       | Long             | EC               | CORP              | ES        |    615050 | NS      | $11850292.16  | 2.25%             |  |  |  | No            |                  2 | On Loan: No      |
| NEXT PLC                                       | NEXT PLC                            | CUSIP: N/A<br>LEI: 213800WQD8ECPZP9PH98       | Long             | EC               | CORP              | GB        |     32551 | NS      | $5425571.35   | 1.03%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS FINANCIAL SQUARE GOVERNMENT FUND | GLDMN SCHS FIN SQ GV-FST            | CUSIP: 38141W273<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    607846 | NS      | $607846.42    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| BARCLAYS PLC                                   | BARCLAYS PLC                        | CUSIP: N/A<br>LEI: 213800LBQA1Y9L22JB70       | Long             | EC               | RF                | GB        |   2340933 | NS      | $12043066.82  | 2.28%             |  |  |  | No            |                  2 | On Loan: No      |
| JAMES HARDIE INDUSTRIES PUBLIC LIMITED COMPANY | JAMES HARDIE INDUSTRIES PLC         | CUSIP: N/A<br>LEI: 635400NSGXKTVOO7JU45       | Long             |  | CORP              | IE        |    168338 | NS      | $3123294.70   | 0.59%             |  |  |  | No            |                  2 | On Loan: —       |
| HOYA CORPORATION                               | HOYA CORP                           | CUSIP: N/A<br>LEI: 353800X4VR3BHEUCJB42       | Long             | EC               | CORP              | JP        |     54000 | NS      | $7467350.89   | 1.41%             |  |  |  | No            |                  2 | On Loan: No      |
| BHP GROUP LIMITED                              | BHP GROUP LIMITED                   | CUSIP: N/A<br>LEI: WZE1WSENV6JSZFK0JC28       | Long             | EC               | CORP              | AU        |    382368 | NS      | $10678268.46  | 2.02%             |  |  |  | No            |                  2 | On Loan: No      |
| BAWAG Group AG                                 | BAWAG GROUP AG                      | CUSIP: N/A<br>LEI: 529900S9YO2JHTIIDG38       | Long             | EC               | CORP              | AT        |     43744 | NS      | $5766174.22   | 1.09%             |  |  |  | Yes           |                  2 | On Loan: No      |
| LVMH MOET HENNESSY LOUIS VUITTON SE            | LVMH MOET HENNESSY LOUIS VUITTON SA | CUSIP: N/A<br>LEI: IOG4E947OATN0KJYSD45       | Long             | EC               | CORP              | FR        |     11163 | NS      | $6868631.78   | 1.30%             |  |  |  | No            |                  2 | On Loan: No      |
| INVESCO GOVERNMENT & AGENCY PORTFOLIO          | INVESCO GVT & AGNCY-INST            | CUSIP: 825252885<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    607846 | NS      | $607846.42    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| MACQUARIE GROUP LIMITED.                       | MACQUARIE GROUP LTD                 | CUSIP: N/A<br>LEI: ACMHD8HWFMFUIQQ8Y590       | Long             | EC               | CORP              | AU        |     40797 | NS      | $5919876.76   | 1.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Tokio Marine Holdings, Inc.                    | TOKIO MARINE HOLDINGS INC           | CUSIP: N/A<br>LEI: 5299009QN2NZ191KLS29       | Long             | EC               | CORP              | JP        |    201700 | NS      | $8537442.61   | 1.62%             |  |  |  | No            |                  2 | On Loan: No      |
| FISHER & PAYKEL HEALTHCARE CORPORATION LIMITED | FISHER PAYKEL HEALTHCARE CORP LTD   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | NZ        |    158973 | NS      | $3412865.44   | 0.65%             |  |  |  | No            |                  2 | On Loan: No      |
| Kakaku.com Inc                                 | KAKAKU COM INC                      | CUSIP: N/A<br>LEI: 353800KA15Y0DCPWYY65       | Long             | EC               | CORP              | JP        |    270300 | NS      | $4642835.06   | 0.88%             |  |  |  | No            |                  2 | On Loan: No      |
| ENEL - SPA                                     | ENEL SPA                            | CUSIP: N/A<br>LEI: WOCMU6HCI0OJWNPRZS33       | Long             | EC               | CORP              | IT        |    682066 | NS      | $6462806.61   | 1.22%             |  |  |  | No            |                  2 | On Loan: No      |
| CENTRICA PLC                                   | CENTRICA PLC                        | CUSIP: N/A<br>LEI: E26EDV109X6EEPBKVH76       | Long             | EC               | CORP              | GB        |   2295406 | NS      | $5153773.39   | 0.98%             |  |  |  | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CORPORATION                       | TOYOTA MOTOR CORP                   | CUSIP: N/A<br>LEI: 5493006W3QUS5LMH6R84       | Long             | EC               | CORP              | JP        |    637900 | NS      | $12253043.96  | 2.32%             |  |  |  | No            |                  2 | On Loan: No      |
| CK ASSET HOLDINGS LIMITED                      | CK ASSET HOLDINGS LIMITED           | CUSIP: N/A<br>LEI: 5299006GJZSGP78B8S35       | Long             | EC               | CORP              | KY        |   1134500 | NS      | $5494674.31   | 1.04%             |  |  |  | No            |                  2 | On Loan: No      |
| iShares MSCI EAFE ETF                          | ISHARES MSCI EAFE ETF               | CUSIP: 464287465<br>LEI: N/A                  | Long             |  | RF                | US        |      2721 | NS      | $254059.77    | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| ARISTOCRAT LEISURE LIMITED                     | ARISTOCRAT LEISURE LTD              | CUSIP: N/A<br>LEI: 529900TE2HO3OZKYKC27       | Long             | EC               | CORP              | AU        |    156752 | NS      | $7254377.18   | 1.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Atlas Copco Aktiebolag                         | ATLAS COPCO AB                      | CUSIP: N/A<br>LEI: 213800T8PC8Q4FYJZR07       | Long             | EC               | CORP              | SE        |    500038 | NS      | $7527978.84   | 1.43%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

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

**Name of Applicant:** Victory Portfolios

**Signature:** Carol Trevino

**Name of Signer:** Carol Trevino

**Title:** Treasurer