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        <name>MATADOR RESOURCES COMPANY</name>
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        <name>HEALTHEQUITY, INC.</name>
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        <name>THE VITA COCO COMPANY, INC.</name>
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        <name>WINTRUST FINANCIAL CORPORATION</name>
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        <fairValLevel>1</fairValLevel>
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        <name>GOLDMAN SACHS FINANCIAL SQUARE GOVERNMENT FUND</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>APPFOLIO, INC.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>PRIMORIS SERVICES CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Krystal Biotech Inc</name>
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        <isRestrictedSec>N</isRestrictedSec>

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

        <fairValLevel>1</fairValLevel>
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        <name>FTAI Aviation Ltd,</name>
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        <name>CURTISS-WRIGHT CORPORATION</name>
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        <name>BUILDERS FIRSTSOURCE, INC.</name>
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        <name>PAYLOCITY HOLDING CORPORATION</name>
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        <name>Waystar Holding Corp</name>
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        <name>CLEAN HARBORS, INC.</name>
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        <name>AAON, INC.</name>
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        <name>LIFE360, INC.</name>
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        <name>INSMED INCORPORATED</name>
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        <name>WOODWARD, INC.</name>
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        <name>ASCENDIS PHARMA A/S</name>
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        <name>INVESCO GOVERNMENT &amp; AGENCY PORTFOLIO</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Ultragenyx Pharmaceutical Inc</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Duolingo Inc</name>
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        <name>Nextracker Inc</name>
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        <name>Hinge Health Inc</name>
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        <name>CHECK POINT SOFTWARE TECHNOLOGIES LTD.</name>
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        <name>HSBC US GOVERNMENT MONEY MARKET FUND</name>
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        <name>PENUMBRA, INC.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>CHART INDUSTRIES, INC.</name>
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        <name>Procore Technologies Inc</name>
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        <name>DYNATRACE, INC.</name>
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        <name>PTC INC.</name>
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        <name>FIRSTCASH HOLDINGS, INC.</name>
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        <name>CORE &amp; MAIN, INC.</name>
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        <name>NATERA, INC.</name>
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        <name>AVIENT CORPORATION</name>
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        <name>MSILF Government Portfolio</name>
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        <name>Q2 HOLDINGS, INC.</name>
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        <name>WINGSTOP INC.</name>
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        <name>BJ'S WHOLESALE CLUB HOLDINGS, INC.</name>
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        <name>GLAUKOS CORPORATION</name>
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        <name>BALCHEM CORPORATION</name>
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        <name>KINSALE CAPITAL GROUP, INC.</name>
        <lei>529900QTUQHNZ6HOA508</lei>
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        <curCd>USD</curCd>
        <valUSD>551646.00000000</valUSD>
        <pctVal>0.658063512206</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>OLLIE'S BARGAIN OUTLET HOLDINGS, INC.</name>
        <lei>529900YO5DSQCPEFDZ05</lei>
        <title>OLLIE S BARGAIN OUTLET HOLDINGS INC</title>
        <cusip>681116109</cusip>
        <identifiers>
          <isin value="US6811161099"/>
          <other otherDesc="Internal" value="681116109"/>
        </identifiers>
        <balance>7620.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1004163.60000000</valUSD>
        <pctVal>1.197875857788</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>EURONET WORLDWIDE, INC.</name>
        <lei>YG3575C4DSHJPA5KET68</lei>
        <title>EURONET WORLDWIDE INC</title>
        <cusip>298736109</cusip>
        <identifiers>
          <isin value="US2987361092"/>
          <other otherDesc="Internal" value="298736109"/>
        </identifiers>
        <balance>15240.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1545031.20000000</valUSD>
        <pctVal>1.843081718964</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>FABRINET</name>
        <lei>5493004TETZ6IYF7CV44</lei>
        <title>FABRINET</title>
        <cusip>G3323L100</cusip>
        <identifiers>
          <isin value="KYG3323L1005"/>
          <other otherDesc="Internal" value="G3323L100"/>
        </identifiers>
        <balance>7580.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2233674.40000000</valUSD>
        <pctVal>2.664570432466</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <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>2025-07-30</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>
</edgarSubmission>
