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        <name>NETFLIX, INC.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BURLINGTON STORES, 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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        <fairValLevel>1</fairValLevel>
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        <name>THE TRADE DESK, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>AMAZON.COM, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>CLEAN HARBORS, INC.</name>
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        <name>SNOWFLAKE INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>ALPHABET INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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

        <fairValLevel>1</fairValLevel>
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        <name>ELI LILLY AND COMPANY</name>
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        <name>META PLATFORMS, INC.</name>
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        <name>TRADEWEB MARKETS INC.</name>
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        <name>APPLOVIN CORPORATION</name>
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        <name>NVIDIA CORPORATION</name>
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        <name>ARISTA NETWORKS, INC.</name>
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        <name>HEICO CORPORATION</name>
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        <name>TESLA, INC.</name>
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        <name>DEXCOM, INC.</name>
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        <name>RH</name>
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        <title>RH</title>
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        <name>FISERV, INC.</name>
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        <name>VERTEX PHARMACEUTICALS INCORPORATED</name>
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        <name>APPLE INC.</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
        <title>APPLE INC</title>
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        <invCountry>US</invCountry>

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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <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>2025-04-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Victory Portfolios</ncom:nameOfApplicant>
      <ncom:signature>Carol Trevino</ncom:signature>
      <ncom:signerName>Carol Trevino</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
