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      <invstOrSec>
        <name>TREX COMPANY, INC.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>WATTS WATER TECHNOLOGIES, INC.</name>
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        <name>HEALTH CATALYST, INC.</name>
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        <name>EVERBRIDGE, INC.</name>
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        <name>Fate Therapeutics Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>FIVE9, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>BLUEBIRD BIO, INC.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>HOSTESS BRANDS, INC.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>AMYRIS INC - PREFERRED</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Q2 HOLDINGS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>LATTICE SEMICONDUCTOR CORPORATION</name>
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        <title>LATTICE SEMICONDUCTOR</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Avidity Biosciences Inc</name>
        <lei>N/A</lei>
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        <name>LIVERAMP HOLDINGS, INC.</name>
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        <name>PRA GROUP, INC.</name>
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        <name>EverQuote Inc</name>
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        <name>CORNERSTONE ONDEMAND, INC.</name>
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        <name>INVITAE CORPORATION</name>
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        <name>FRONTDOOR, INC.</name>
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        <name>AMYRIS INC</name>
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        <name>Inspire Medical Systems Inc</name>
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        <name>BANDWIDTH INC.</name>
        <lei>549300QC70JB7MUGXM66</lei>
        <title>BANDWIDTH INC</title>
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        <name>CABOT MICROELECTRONICS CORPORATION</name>
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        <fairValLevel>1</fairValLevel>
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        <name>AXON ENTERPRISE, INC.</name>
        <lei>549300QP2IEEGFE16681</lei>
        <title>AXON ENTERPRISE INC</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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      <invstOrSec>
        <name>Freshpet Inc</name>
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      <invstOrSec>
        <name>VARONIS SYSTEMS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>ADVANCED DRAINAGE SYSTEMS, INC.</name>
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      <invstOrSec>
        <name>PLANET FITNESS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Mirati Therapeutics Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CytomX Therapeutics Inc</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SITEONE LANDSCAPE SUPPLY, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>SKYLINE CHAMPION CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>BELLRING BRANDS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>iRhythm Technologies Inc</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>EVOQUA WATER TECHNOLOGIES CORP.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Replimune Group Inc</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>BJ'S WHOLESALE CLUB HOLDINGS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>OLLIE'S BARGAIN OUTLET HOLDINGS, INC.</name>
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        <name>Oric Pharmaceuticals Inc</name>
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        <name>NEVRO CORP.</name>
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        <name>Equillium Inc</name>
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        <name>ESSENT GROUP LTD</name>
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        <name>GOSSAMER BIO, INC.</name>
        <lei>549300ZOC0N2W6PSFR58</lei>
        <title>GOSSAMER BIO INC</title>
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        <name>HANGER, INC.</name>
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        <title>HANGER INC</title>
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        <name>GW PHARMACEUTICALS PLC</name>
        <lei>213800ISBN5CNUZMHZ39</lei>
        <title>GW PHARMACEUTICALS PLC</title>
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        <name>ESCO TECHNOLOGIES INC.</name>
        <lei>5493007JJLP5MEWVDH10</lei>
        <title>ESCO TECHNOLOGIES, INC.</title>
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        <name>Ascendis Pharma A/S</name>
        <lei>549300B66JN3W3J8GH73</lei>
        <title>ASCENDIS PHARMA A/S - ADR</title>
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        <invCountry>DK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <name>MERCURY SYSTEMS, INC.</name>
        <lei>549300P3B84SGK7HH679</lei>
        <title>MERCURY SYSTEMS INC</title>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="64025.39999999"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Constellation Pharmaceuticals Inc</name>
        <lei>N/A</lei>
        <title>CONSTELLATION PHARMACEUTICALS INC</title>
        <cusip>210373106</cusip>
        <identifiers>
          <isin value="US2103731061"/>
        </identifiers>
        <balance>429460.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12905273.00000000</valUSD>
        <pctVal>0.573217564907</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="97342.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SAGE THERAPEUTICS, INC.</name>
        <lei>5493000JX4BJS9W6CN35</lei>
        <title>SAGE THERAPEUTICS INC</title>
        <cusip>78667J108</cusip>
        <identifiers>
          <isin value="US78667J1088"/>
        </identifiers>
        <balance>233450.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9706851.00000000</valUSD>
        <pctVal>0.431152250180</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="4305108.59000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AVAYA HOLDINGS CORP.</name>
        <lei>549300NZS2OZN6Q63A60</lei>
        <title>AVAYA HOLDINGS CORP</title>
        <cusip>05351X101</cusip>
        <identifiers>
          <isin value="US05351X1019"/>
        </identifiers>
        <balance>2316430.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>28631074.80000000</valUSD>
        <pctVal>1.271715443566</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="5241476.39999999"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ITRON, INC.</name>
        <lei>24F6LSZD18II6ICG6S41</lei>
        <title>ITRON INC</title>
        <cusip>465741106</cusip>
        <identifiers>
          <isin value="US4657411066"/>
        </identifiers>
        <balance>296400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19636500.00000000</valUSD>
        <pctVal>0.872200589116</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="627814.79999999"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ENVESTNET, INC.</name>
        <lei>549300HLWZ5OKIDM8737</lei>
        <title>ENVESTNET INC</title>
        <cusip>29404K106</cusip>
        <identifiers>
          <isin value="US29404K1060"/>
        </identifiers>
        <balance>385246.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>28330990.84000000</valUSD>
        <pctVal>1.258386520046</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MASIMO CORPORATION</name>
        <lei>549300Q4A8JK0PIYCU29</lei>
        <title>MASIMO CORP</title>
        <cusip>574795100</cusip>
        <identifiers>
          <isin value="US5747951003"/>
        </identifiers>
        <balance>94910.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>21638530.90000000</valUSD>
        <pctVal>0.961125424519</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="96900.93000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LHC GROUP, INC.</name>
        <lei>5299009NPLWAMRQYZX73</lei>
        <title>LHC GROUP INC</title>
        <cusip>50187A107</cusip>
        <identifiers>
          <isin value="US50187A1079"/>
        </identifiers>
        <balance>303970.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>52988050.40000000</valUSD>
        <pctVal>2.353586880299</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="1790776.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WESTERN ALLIANCE BANCORPORATION</name>
        <lei>5493003VJXZ5JXT9S762</lei>
        <title>WESTERN ALLIANCE BANCORP</title>
        <cusip>957638109</cusip>
        <identifiers>
          <isin value="US9576381092"/>
        </identifiers>
        <balance>295530.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11191721.10000000</valUSD>
        <pctVal>0.497106191869</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Generation Bio Co</name>
        <lei>N/A</lei>
        <title>GENERATION BIO CO</title>
        <cusip>37148K100</cusip>
        <identifiers>
          <isin value="US37148K1007"/>
        </identifiers>
        <balance>440720.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9255120.00000000</valUSD>
        <pctVal>0.411087572446</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FTI CONSULTING, INC.</name>
        <lei>549300K17GM8EQD0FQ48</lei>
        <title>FTI CONSULTING INC</title>
        <cusip>302941109</cusip>
        <identifiers>
          <isin value="US3029411093"/>
        </identifiers>
        <balance>294100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>33689155.00000000</valUSD>
        <pctVal>1.496381780756</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>REPAY HOLDINGS CORPORATION</name>
        <lei>N/A</lei>
        <title>REPAY HOLDINGS CORP</title>
        <cusip>76029L100</cusip>
        <identifiers>
          <isin value="US76029L1008"/>
        </identifiers>
        <balance>574070.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14139344.10000000</valUSD>
        <pctVal>0.628031688627</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="927370.38000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SILICON LABORATORIES INC.</name>
        <lei>4PRDF8Q9TDHRVZKZSZ47</lei>
        <title>SILICON LABORATORIES INC</title>
        <cusip>826919102</cusip>
        <identifiers>
          <isin value="US8269191024"/>
        </identifiers>
        <balance>254180.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>25486628.60000000</valUSD>
        <pctVal>1.132047588903</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="754104.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Arcus Biosciences Inc</name>
        <lei>N/A</lei>
        <title>ARCUS BIOSCIENCES INC</title>
        <cusip>03969F109</cusip>
        <identifiers>
          <isin value="US03969F1093"/>
        </identifiers>
        <balance>500500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12382370.00000000</valUSD>
        <pctVal>0.549991618091</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WIX.COM LTD</name>
        <lei>5493008P6N29Q1AG9464</lei>
        <title>WIX.COM LTD</title>
        <cusip>M98068105</cusip>
        <identifiers>
          <isin value="IL0011301780"/>
        </identifiers>
        <balance>325570.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>83417545.40000000</valUSD>
        <pctVal>3.705183318844</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CARDLYTICS, INC.</name>
        <lei>549300JETJBH94EIPC66</lei>
        <title>CARDLYTICS INC</title>
        <cusip>14161W105</cusip>
        <identifiers>
          <isin value="US14161W1053"/>
        </identifiers>
        <balance>178620.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12499827.60000000</valUSD>
        <pctVal>0.555208769208</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="4310251.19999999"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MACOM TECHNOLOGY SOLUTIONS HOLDINGS, INC.</name>
        <lei>N/A</lei>
        <title>MACOM TECHNOLOGY SOLUTIONS HOL</title>
        <cusip>55405Y100</cusip>
        <identifiers>
          <isin value="US55405Y1001"/>
        </identifiers>
        <balance>869040.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>29851524.00000000</valUSD>
        <pctVal>1.325924519074</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AMICUS THERAPEUTICS, INC.</name>
        <lei>549300MRD1SMUTNBPQ53</lei>
        <title>AMICUS THERAPEUTICS, INC.</title>
        <cusip>03152W109</cusip>
        <identifiers>
          <isin value="US03152W1099"/>
        </identifiers>
        <balance>2012805.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>30353099.40000000</valUSD>
        <pctVal>1.348203151181</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY INSTITUTIONAL LIQUIDITY FUNDS - PRIME PORTFOL</name>
        <lei>N/A</lei>
        <title>Morgan Stanley Institutional Liquidity Fund - MPFXX 2.0073% 6/18/2018 - Extendable</title>
        <cusip>61747C715</cusip>
        <identifiers>
          <ticker value="MPFXX"/>
        </identifiers>
        <balance>81565612.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>81565612.38999999</valUSD>
        <pctVal>3.622925428572</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="81565612.38999999" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS FINANCIAL SQUARE PRIME OBLIGATIONS FUND</name>
        <lei>N/A</lei>
        <title>Goldman Sachs Financial Sq Prime Obligations- FPOXX Victory 1.62% 2/28/2018 - Extendable</title>
        <cusip>38141W364</cusip>
        <identifiers>
          <ticker value="FPOXX"/>
        </identifiers>
        <balance>31702416.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>31702416.39999999</valUSD>
        <pctVal>1.408136188245</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="31702416.39999999" 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 1.51% 2/11/2020 - Extendable</title>
        <cusip>1849969A6</cusip>
        <identifiers>
          <ticker value="FRGXX"/>
        </identifiers>
        <balance>137977906.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>137977905.51000000</valUSD>
        <pctVal>6.128607973458</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="137977905.51000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JPMORGAN PRIME MONEY MARKET FUND</name>
        <lei>N/A</lei>
        <title>JPMorgan Prime Money Market Fund - CJPXX 1.67% 1/31/2020 - Extendable</title>
        <cusip>4812A0367</cusip>
        <identifiers>
          <ticker value="CJPXX"/>
        </identifiers>
        <balance>18141030.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18141030.49000000</valUSD>
        <pctVal>0.805775850103</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="18141030.49000000" 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 1.67% 1/30/2020 - Extendable</title>
        <cusip>09248U619</cusip>
        <identifiers>
          <ticker value="TMPXX"/>
        </identifiers>
        <balance>4558890.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4558889.72999999</valUSD>
        <pctVal>0.202493637268</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="4558889.72999999" 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>2020-07-30</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>
