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      <regCik>0000802716</regCik>
      <regLei>549300V07N3HJP1EW330</regLei>
      <regStreet1>4900 Tiedeman Road 4th Floor</regStreet1>
      <regCity>Brooklyn</regCity>
      <regStateConditional regCountry="US" regState="US-OH"/>
      <regZipOrPostalCode>44144</regZipOrPostalCode>
      <regPhone>800-539-3863</regPhone>
      <seriesName>Victory Integrity Mid-Cap Value Fund</seriesName>
      <seriesId>S000046397</seriesId>
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      <repPdEnd>2020-06-30</repPdEnd>
      <repPdDate>2019-12-31</repPdDate>
      <isFinalFiling>N</isFinalFiling>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AMERICAN FINANCIAL GROUP, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>HEALTHPEAK PROPERTIES, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SYNNEX CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>WEYERHAEUSER COMPANY</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>NUANCE COMMUNICATIONS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>PIONEER NATURAL RESOURCES COMPANY</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FIRSTENERGY CORP.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>AMERICOLD REALTY TRUST</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>ZIONS BANCORPORATION, NATIONAL ASSOCIATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>D.R. HORTON, INC.</name>
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        <name>WESTERN DIGITAL CORPORATION</name>
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        <name>ENCOMPASS HEALTH CORPORATION</name>
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        <name>HOST HOTELS &amp; RESORTS, INC.</name>
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        <name>CRANE CO.</name>
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        <name>WPX ENERGY, INC.</name>
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        <name>MARTIN MARIETTA MATERIALS, INC.</name>
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        <name>NOBLE ENERGY, INC.</name>
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        <name>QUANTA SERVICES, INC.</name>
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        <name>LEIDOS HOLDINGS, INC.</name>
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        <name>FIDELITY NATIONAL FINANCIAL, INC.</name>
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        <name>HOLLYFRONTIER CORPORATION</name>
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        <name>RALPH LAUREN CORPORATION</name>
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        <name>FLEX LTD.</name>
        <lei>549300EAQH74YHD07T53</lei>
        <title>FLEX LTD</title>
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        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>HESS CORPORATION</name>
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        <title>HESS CORP.</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>PPL CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>REPUBLIC SERVICES, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>STANLEY BLACK &amp; DECKER, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TEXTRON INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PERRIGO COMPANY PUBLIC LIMITED COMPANY</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>UNITED AIRLINES HOLDINGS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PINNACLE WEST CAPITAL CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>NEWELL BRANDS INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>M&amp;T BANK CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>CARPENTER TECHNOLOGY CORPORATION</name>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>ALLEGHENY TECHNOLOGIES INCORPORATED</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>KOHL'S CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>COLFAX CORPORATION</name>
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        <fairValLevel>1</fairValLevel>
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        <name>QORVO, INC.</name>
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        <name>WYNDHAM DESTINATIONS, INC.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>DUKE REALTY CORPORATION</name>
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        <name>VOYA FINANCIAL, INC.</name>
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        <name>BEACON ROOFING SUPPLY, INC.</name>
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        <name>NCR CORPORATION</name>
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        <name>THE KROGER CO.</name>
        <lei>6CPEOKI6OYJ13Q6O7870</lei>
        <title>THE KROGER CO</title>
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        <name>ITT INC.</name>
        <lei>549300KDSERHTJOXUS80</lei>
        <title>ITT INC</title>
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        <name>CURTISS-WRIGHT CORPORATION</name>
        <lei>TEL51ETZWP7D0ZM4X325</lei>
        <title>CURTISS-WRIGHT CORP.</title>
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        <invCountry>US</invCountry>

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        <name>ALLIANT ENERGY CORPORATION</name>
        <lei>5493009ML300G373MZ12</lei>
        <title>ALLIANT ENERGY CORP.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>LPL FINANCIAL HOLDINGS INC.</name>
        <lei>549300XROQ4Y8G2L7682</lei>
        <title>LPL FINANCIAL HOLDINGS INC</title>
        <cusip>50212V100</cusip>
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        <name>LUMENTUM HOLDINGS INC.</name>
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        <name>CAMDEN PROPERTY TRUST</name>
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        <name>RAYMOND JAMES FINANCIAL, INC.</name>
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        <name>Evergy, Inc.</name>
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        <name>iShares Russell Mid-Cap Value ETF</name>
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        <name>ASSURANT, INC.</name>
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        <name>FREEPORT-MCMORAN INC.</name>
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        <name>CONCHO RESOURCES INC.</name>
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        <name>ROYAL CARIBBEAN CRUISES LTD.</name>
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        <name>MICROCHIP TECHNOLOGY INCORPORATED</name>
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        <name>KNIGHT-SWIFT TRANSPORTATION HOLDINGS INC.</name>
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        <name>CELANESE CORPORATION</name>
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      <invstOrSec>
        <name>ARAMARK</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>DTE ENERGY COMPANY</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>OLD DOMINION FREIGHT LINE, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CINEMARK HOLDINGS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>HOLOGIC, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AGCO CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>WESTERN ALLIANCE BANCORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>EVEREST RE GROUP, LTD.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>ZIMMER BIOMET HOLDINGS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>NORTHERN TRUST CORPORATION</name>
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        <fairValLevel>1</fairValLevel>
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        <name>KANSAS CITY SOUTHERN</name>
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        <fairValLevel>1</fairValLevel>
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        <name>UGI CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>ADVANCE AUTO PARTS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>MKS INSTRUMENTS, INC.</name>
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        <name>VIACOMCBS INC.</name>
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        <name>HILL-ROM HOLDINGS, INC.</name>
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        <name>OSHKOSH CORPORATION</name>
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        <name>EDISON INTERNATIONAL</name>
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        <name>DIAMONDBACK ENERGY, INC.</name>
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        <name>JPMORGAN PRIME MONEY MARKET FUND</name>
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        <name>MORGAN STANLEY INSTITUTIONAL LIQUIDITY FUNDS - PRIME PORTFOL</name>
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        <name>GOLDMAN SACHS FINANCIAL SQUARE PRIME OBLIGATIONS FUND</name>
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        <title>Goldman Sachs Financial Sq Prime Obligations- FPOXX Victory 1.62% 2/28/2018 - Extendable</title>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="1076336.06999999" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BLACKROCK LIQUIDITY FUNDS TEMPFUND PORTFOLIO</name>
        <lei>N/A</lei>
        <title>Blackrock Liquidity Funds Temp Fund Portfolio - TMPXX 1.58% 3/22/2018 - Extendable</title>
        <cusip>09248U619</cusip>
        <identifiers>
          <ticker value="TMPXX"/>
        </identifiers>
        <balance>323401.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>323401.03999999</valUSD>
        <pctVal>0.123830754262</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="323401.03999999" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FIDELITY PRIME MONEY MARKET PORTFOLIO</name>
        <lei>N/A</lei>
        <title>Fidelity Prime Money Market Portfolio - FIPXX 1.22% 10/27/2017 - Extendable</title>
        <cusip>31607A208</cusip>
        <identifiers>
          <ticker value="FIPXX"/>
        </identifiers>
        <balance>54016.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>54015.84000000</valUSD>
        <pctVal>0.020682747987</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="54015.84" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FIDELITY GOVERNMENT PORTFOLIO</name>
        <lei>N/A</lei>
        <title>FIDELITY GOVERNMENT PORTFOLIO FRGXX 1.85% 8/24/2018 - Extendable</title>
        <cusip>1849969A6</cusip>
        <identifiers>
          <ticker value="FRGXX"/>
        </identifiers>
        <balance>1781708.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1781708.37000000</valUSD>
        <pctVal>0.682218867735</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="1781708.37" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly total returns reported under item B.5.a do not include any sales or redemption charges, as applicable." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2020-01-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Victory Portfolios</ncom:nameOfApplicant>
      <ncom:signature>Allan Shaer</ncom:signature>
      <ncom:signerName>Allan Shaer</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
