NPORT-P false 0000908695 XXXXXXXX S000012920 C000034890 C000066845 Victory Portfolios III 811-07852 0000908695 549300WIDR2J6W1Y9S11 15935 La Cantera Pkwy Building Two San Antonio 78256 800-235-8396 Victory Value Fund S000012920 549300F9D3M2P19RXS81 2026-04-30 2026-01-31 N 1416028265.65 4278806.00 1411749459.65 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 17309330.53000000 N THE GOLDMAN SACHS GROUP, INC. 784F5XWPLTWKTBV3E584 38141G104 7244.00000000 NS USD 6776110.04000000 0.479979644665 Long EC CORP US N 1 N N N EXXON MOBIL CORPORATION J3WHBG0MTS7O8ZVMDC91 30231G102 140200.00000000 NS USD 19824280.00000000 1.404234998249 Long EC CORP US N 1 N N N EQUITY LIFESTYLE PROPERTIES, INC. 529900PEQG66LENB6798 29472R108 174400.00000000 NS USD 11016848.00000000 0.780368494189 Long EC CORP US N 1 N N N PFIZER INC. 765LHXWGK1KXCLTFYQ30 717081103 207776.00000000 NS USD 5493597.44000000 0.389134021086 Long EC CORP US N 1 N N N QUALCOMM INCORPORATED H1J8DDZKZP6H7RWC0H53 747525103 40888.00000000 NS USD 6198211.92000000 0.439044752426 Long EC CORP US N 1 N N N UNITED AIRLINES HOLDINGS, INC. 98450079DA0B78DD6764 910047109 33615.00000000 NS USD 3439486.80000000 0.243632946093 Long EC CORP US N 1 N N N COMFORT SYSTEMS USA, INC. 5299009DT1ZA5HTU6R38 199908104 2666.00000000 NS USD 3044838.60000000 0.215678396700 Long EC CORP US N 1 N N N SYNCHRONY FINANCIAL 549300RS7EWPM9MA6C78 87165B103 98033.00000000 NS USD 7120136.79000000 0.504348469293 Long EC CORP US N 1 N N N INGREDION INCORPORATED PKSTQ48QDN0XSVS7YK88 457187102 54058.00000000 NS USD 6384249.80000000 0.452222577905 Long EC CORP US N 1 N N N LOWE'S COMPANIES, INC. WAFCR4OKGSC504WU3E95 548661107 23851.00000000 NS USD 6369648.06000000 0.451188276819 Long EC CORP US N 1 N N N RELIANCE, INC. 549300E287ZOFT3C5Z56 759509102 11241.00000000 NS USD 3703909.50000000 0.262363089617 Long EC CORP US N 1 N N N NRG ENERGY, INC. 5E2UPK5SW04M13XY7I38 629377508 18250.00000000 NS USD 2785497.50000000 0.197308203729 Long EC CORP US N 1 N N N FAIR ISAAC CORPORATION RI6HET5SJUEY30V1PS26 303250104 1987.00000000 NS USD 2907318.79000000 0.205937304960 Long EC CORP US N 1 N N N GOLDMAN SACHS FINANCIAL SQUARE GOVERNMENT FUND N/A 38141W273 789057.69000000 NS USD 789057.69000000 0.055892189977 Long STIV RF US N 1 N N UNION PACIFIC CORPORATION 549300LMMRSZZCZ8CL11 907818108 52100.00000000 NS USD 12248710.00000000 0.867626328189 Long EC CORP US N 1 N N N US FOODS HOLDING CORP. 549300UGOZSO64CFPR97 912008109 173000.00000000 NS USD 14466260.00000000 1.024704482875 Long EC CORP US N 1 N N N NETAPP, INC. QTX3D84DZDD5JYOCYH15 64110D104 64250.00000000 NS USD 6190487.50000000 0.438497600100 Long EC CORP US N 1 N N N ALPHABET INC. 5493006MHB84DD0ZWV18 02079K305 147805.00000000 NS USD 49958090.00000000 3.538736257946 Long EC CORP US N 1 N N N KEURIG DR PEPPER INC. DYTQ8KRTKO7Y2BVU5K74 49271V100 202592.00000000 NS USD 5559124.48000000 0.393775569878 Long EC CORP US N 1 N N N W. R. BERKLEY CORPORATION SQOAGCLKBDWNVYV1OV80 084423102 33472.00000000 NS USD 2295509.76000000 0.162600363988 Long EC CORP US N 1 N N MARATHON PETROLEUM CORPORATION 3BNYRYQHD39K4LCKQF12 56585A102 31243.00000000 NS USD 5504704.17000000 0.389920756290 Long EC CORP US N 1 N N N MERCK & CO., INC. 4YV9Y5M8S0BRK1RP0397 58933Y105 93606.00000000 NS USD 10321933.62000000 0.731144860686 Long EC CORP US N 1 N N N OWENS CORNING JO5M6676RDJIZ2U8X907 690742101 42656.00000000 NS USD 5111895.04000000 0.362096475763 Long EC CORP US N 1 N N N COCA-COLA CONSOLIDATED, INC. 57VG5X0E00X0QJU7CQ58 191098102 37747.00000000 NS USD 5739808.82000000 0.406574182179 Long EC CORP US N 1 N N N EXELON CORPORATION 3SOUA6IRML7435B56G12 30161N101 339200.00000000 NS USD 15189376.00000000 1.075925752701 Long EC CORP US N 1 N N N COMCAST CORPORATION 51M0QTTNCGUN7KFCFZ59 20030N101 165263.00000000 NS USD 4916574.25000000 0.348261103724 Long EC CORP US N 1 N N N META PLATFORMS, INC. BQ4BKCS1HXDV9HN80Z93 30303M102 4550.00000000 NS USD 3260075.00000000 0.230924473015 Long EC CORP US N 1 N N N CVS HEALTH CORPORATION 549300EJG376EN5NQE29 126650100 193688.00000000 NS USD 14433629.76000000 1.022393149247 Long EC CORP US N 1 N N N VALERO ENERGY CORPORATION 549300XTO5VR8SKV1V74 91913Y100 111355.00000000 NS USD 20203137.65000000 1.431071038271 Long EC CORP US N 1 N N N DECKERS OUTDOOR CORPORATION 5493008LG4W3I6K8J118 243537107 58302.00000000 NS USD 6957760.68000000 0.492846703955 Long EC CORP US N 1 N N N CACI INTERNATIONAL INC. SYRPI2D1O9WRTS2WX210 127190304 18900.00000000 NS USD 11728962.00000000 0.830810447266 Long EC CORP US N 1 N N N ULTA BEAUTY, INC. 529900CIV6HN8M28YM82 90384S303 8962.00000000 NS USD 5801640.32000000 0.410953960728 Long EC CORP US N 1 N N N CF INDUSTRIES HOLDINGS, INC. 529900CG8YAQFZ2JMV97 125269100 68647.00000000 NS USD 6399959.81000000 0.453335382298 Long EC CORP US N 1 N N N FEDEX CORPORATION 549300E707U7WNPZN687 31428X106 61820.00000000 NS USD 19921495.00000000 1.411121135115 Long EC CORP US N 1 N N N GE HEALTHCARE TECHNOLOGIES INC. 549300OI9J7XOWZMUN85 36266G107 82900.00000000 NS USD 6546613.00000000 0.463723428774 Long EC CORP US N 1 N N N CARLISLE COMPANIES INCORPORATED XR64VGX1ZPX6G7ZN7Z11 142339100 9635.00000000 NS USD 3284475.15000000 0.232652835639 Long EC CORP US N 1 N N N AUTOMATIC DATA PROCESSING, INC. HGBOLILQXWER4SAL2I23 053015103 20448.00000000 NS USD 5046975.36000000 0.357497948768 Long EC CORP US N 1 N N N LEAR CORPORATION 549300UPNBTXA1SYTQ33 521865204 23182.00000000 NS USD 2714380.38000000 0.192270686660 Long EC CORP US N 1 N N N AT&T INC. 549300Z40J86GGSTL398 00206R102 178416.00000000 NS USD 4676283.36000000 0.331240315201 Long EC CORP US N 1 N N N ALLISON TRANSMISSION HOLDINGS, INC. 529900RP7DJ882LI9T83 01973R101 23624.00000000 NS USD 2567928.80000000 0.181896921046 Long EC CORP US N 1 N N N AMERICAN ELECTRIC POWER COMPANY, INC. 1B4S6S7G0TW5EE83BO58 025537101 98300.00000000 NS USD 11773882.50000000 0.833992350379 Long EC CORP US N 1 N N N THE PROGRESSIVE CORPORATION 529900TACNVLY9DCR586 743315103 41746.00000000 NS USD 8683168.00000000 0.615064375668 Long EC CORP US N 1 N N N GODADDY INC. 549300J8H1TB0I2CB447 380237107 19395.00000000 NS USD 1949585.40000000 0.138097123868 Long EC CORP US N 1 N N N AVERY DENNISON CORPORATION 549300PW7VPFCYKLIV37 053611109 30225.00000000 NS USD 5607039.75000000 0.397169604824 Long EC CORP US N 1 N N N DEVON ENERGY CORPORATION 54930042348RKR3ZPN35 25179M103 184247.00000000 NS USD 7408571.87000000 0.524779508103 Long EC CORP US N 1 N N N BORGWARNER INC. 549300DSFX2IE88NSX47 099724106 132787.00000000 NS USD 6295431.67000000 0.445931225754 Long EC CORP US N 1 N N N EVERCORE INC. 529900P6KLPT95DW3W58 29977A105 18333.00000000 NS USD 6476498.91000000 0.458756960431 Long EC CORP US N 1 N N N EOG RESOURCES, INC. XWTZDRYZPBUHIQBKDB46 26875P101 70794.00000000 NS USD 7938131.22000000 0.562290367156 Long EC CORP US N 1 N N N EXELIXIS, INC. 254900PJQB59O2O95R37 30161Q104 99122.00000000 NS USD 4099685.92000000 0.290397555456 Long EC CORP US N 1 N N N U.S. BANCORP N1GZ7BBF3NP8GI976H15 902973304 450119.00000000 NS USD 25256177.09000000 1.788998530678 Long EC CORP US N 1 N N N ENTERPRISE PRODUCTS PARTNERS L.P. K4CDIF4M54DJZ6TB4Q48 293792107 439124.00000000 NS USD 14574525.56000000 1.032373376194 Long CORP US N 1 N N N DELTA AIR LINES, INC. Q2CCMS6R0AS67HJMBN42 247361702 55697.00000000 NS USD 3669875.33000000 0.259952309874 Long EC CORP US N 1 N N N PACCAR INC KDTEY8BWE486IKZ3CC07 693718108 50647.00000000 NS USD 6225022.77000000 0.440943874810 Long EC CORP US N 1 N N N RTX CORPORATION I07WOS4YJ0N7YRFE7309 75513E101 61767.00000000 NS USD 12410843.31000000 0.879110895008 Long EC CORP US N 1 N N N METTLER-TOLEDO INTERNATIONAL INC. 5493000BD5GJNUDIUG10 592688105 1819.00000000 NS USD 2497923.56000000 0.176938162995 Long EC CORP US N 1 N N N PUBLIC STORAGE. 254900GLQZAD4N7N5Q19 74460D109 7756.00000000 NS USD 2142129.64000000 0.151735821491 Long EC CORP US N 1 N N N EXPEDITORS INTERNATIONAL OF WASHINGTON, INC 984500B055A804AB6E40 302130109 32855.00000000 NS USD 5274541.70000000 0.373617405265 Long EC CORP US N 1 N N N MEDPACE HOLDINGS, INC. 549300H8TYEUVTW14A54 58506Q109 6814.00000000 NS USD 3969018.72000000 0.281141862167 Long EC CORP US N 1 N N N REGIONS FINANCIAL CORPORATION CW05CS5KW59QTC0DG824 7591EP100 150569.00000000 NS USD 4291216.50000000 0.303964451388 Long EC CORP US N 1 N N N DARDEN RESTAURANTS, INC. CY1NFSCCB5GUXC7WZC70 237194105 27000.00000000 NS USD 5382450.00000000 0.381260992395 Long EC CORP US N 1 N N N EATON CORPORATION PUBLIC LIMITED COMPANY 549300VDIGTMXUNT7H71 G29183103 36200.00000000 NS USD 12721404.00000000 0.901109181451 Long EC CORP IE N 1 N N N TOLL BROTHERS, INC. 529900JB6IS9MSZGVR44 889478103 90256.00000000 NS USD 13041089.44000000 0.923753811333 Long EC CORP US N 1 N N N ANALOG DEVICES, INC. GYVOE5EZ4GDAVTU4CQ61 032654105 39800.00000000 NS USD 12373024.00000000 0.876431998285 Long EC CORP US N 1 N N N HUMANA INC. 529900YLDW34GJAO4J06 444859102 12123.00000000 NS USD 2366409.60000000 0.167622490224 Long EC CORP US N 1 N N N TEXTRON INC. 3PPKBHUG1HD6BO7RNR87 883203101 30830.00000000 NS USD 2714889.80000000 0.192306770967 Long EC CORP US N 1 N N N CARDINAL HEALTH, INC. CCU46N3GJMF4OK4N7U60 14149Y108 10882.00000000 NS USD 2338324.16000000 0.165633083407 Long EC CORP US N 1 N N N Amdocs Limited 549300HQV672RJ7RQV66 G02602103 59796.00000000 NS USD 4899684.24000000 0.347064715095 Long EC CORP GG N 1 N N N Mondelez International, Inc. 549300DV9GIB88LZ5P30 609207105 158900.00000000 NS USD 9290883.00000000 0.658111319716 Long EC CORP US N 1 N N N PRINCIPAL FINANCIAL GROUP, INC. CUMYEZJOAF02RYZ1JJ85 74251V102 55815.00000000 NS USD 5286796.80000000 0.374485484223 Long EC CORP US N 1 N N N PAYPAL HOLDINGS, INC. 5493005X2GO78EFZ3E94 70450Y103 73703.00000000 NS USD 3883411.07000000 0.275077921472 Long EC CORP US N 1 N N N KEYCORP RKPI3RZGV1V1FJTH5T61 493267108 1270900.00000000 NS USD 27349768.00000000 1.937296154997 Long EC CORP US N 1 N N N GLOBAL PAYMENTS INC. 549300NOMHGVQBX6S778 37940X102 46215.00000000 NS USD 3315464.10000000 0.234847909969 Long EC CORP US N 1 N N N Pepsico, Inc. FJSUNZKFNQ5YPJ5OT455 713448108 24264.00000000 NS USD 3727678.32000000 0.264046732550 Long EC CORP US N 1 N N N PULTEGROUP, INC. N/A 745867101 49776.00000000 NS USD 6226479.84000000 0.441047085050 Long EC CORP US N 1 N N N OMNICOM GROUP INC. HKUPACFHSSASQK8HLS17 681919106 63345.00000000 NS USD 4880098.80000000 0.345677398113 Long EC CORP US N 1 N N N AMERICAN EXPRESS COMPANY R4PP93JZOLY261QX3811 025816109 15119.00000000 NS USD 5324458.23000000 0.377153197658 Long EC CORP US N 1 N N N TALEN ENERGY CORP N/A 87422Q109 6465.00000000 NS USD 2252147.40000000 0.159528830317 Long EC CORP US N 1 N N N GILEAD SCIENCES, INC. 549300WTZWR07K8MNV44 375558103 79999.00000000 NS USD 11355858.05000000 0.804381965395 Long EC CORP US N 1 N N N HONEYWELL INTERNATIONAL INCORPORATION ISRPG12PN4EIEOEMW547 438516106 69300.00000000 NS USD 15767136.00000000 1.116850861335 Long EC CORP US N 1 N N N HSBC US GOVERNMENT MONEY MARKET FUND N/A 40428X107 789057.69000000 NS USD 789057.69000000 0.055892189977 Long STIV RF US N 1 N N JABIL INC. 5493000CGCQY2OQU7669 466313103 21092.00000000 NS USD 5002811.48000000 0.354369640151 Long EC CORP US N 1 N N N TAKE-TWO INTERACTIVE SOFTWARE, INC. BOMSTHHJK882EWYX3334 874054109 29300.00000000 NS USD 6454790.00000000 0.457219229366 Long EC CORP US N 1 N N N LENNOX INTERNATIONAL INC. S7DWAC87RDMPBF77GJ92 526107107 6682.00000000 NS USD 3308124.56000000 0.234328020272 Long EC CORP US N 1 N N N CISCO SYSTEMS, INC. 549300LKFJ962MZ46593 17275R102 75702.00000000 NS USD 5928980.64000000 0.419973997473 Long EC CORP US N 1 N N N SALESFORCE, INC. RCGZFPDMRW58VJ54VR07 79466L302 73070.00000000 NS USD 15512030.30000000 1.098780679104 Long EC CORP US N 1 N N N ACCENTURE PUBLIC LIMITED COMPANY 5493000EWHDSR3MZWH98 G1151C101 36689.00000000 NS USD 9672687.96000000 0.685156129785 Long EC CORP IE N 1 N N N FISERV, INC. GI7UBEJLXYLGR2C7GV83 337738108 63801.00000000 NS USD 4066037.73000000 0.288014116258 Long EC CORP US N 1 N N N APTIV PLC N/A G3265R107 51968.00000000 NS USD 3936576.00000000 0.278843811349 Long EC CORP JE N 1 N N N VOYA FINANCIAL, INC. 549300T065Z4KJ686G75 929089100 42785.00000000 NS USD 3279898.10000000 0.232328624429 Long EC CORP US N 1 N N N AMETEK, INC. 549300WZDEF9KKE40E98 031100100 65400.00000000 NS USD 14648292.00000000 1.037598555456 Long EC CORP US N 1 N N N ELEVANCE HEALTH, INC. 8MYN82XMYQH89CTMTH67 036752103 14780.00000000 NS USD 5110037.20000000 0.361964877342 Long EC CORP US N 1 N N N PROLOGIS, INC. 529900DFH19P073LZ636 74340W103 26245.00000000 NS USD 3426547.20000000 0.242716381194 Long EC CORP US N 1 N N N GENERAL MOTORS COMPANY 54930070NSV60J38I987 37045V100 48013.00000000 NS USD 4033092.00000000 0.285680435181 Long EC CORP US N 1 N N N FIDELITY NATIONAL FINANCIAL, INC 549300CAZYIH39SYQ287 31620R303 130607.00000000 NS USD 7103714.73000000 0.503185227480 Long EC CORP US N 1 N N N ZEBRA TECHNOLOGIES CORPORATION PO0I32GKZ3HZMMDPZZ08 989207105 54000.00000000 NS USD 12688920.00000000 0.898808206602 Long EC CORP US N 1 N N N LEIDOS HOLDINGS, INC. 549300IUTGTP6EJP8124 525327102 76221.00000000 NS USD 14350889.88000000 1.016532344454 Long EC CORP US N 1 N N N AIRBNB, INC. 549300HMUDNO0RY56D37 009066101 21564.00000000 NS USD 2789734.68000000 0.197608340554 Long EC CORP US N 1 N N N LAM RESEARCH CORPORATION 549300I4GMO6D34U1T02 512807306 20169.00000000 NS USD 4708654.74000000 0.333533312714 Long EC CORP US N 1 N N N OTIS WORLDWIDE CORPORATION 549300ZLBKR8VSU25153 68902V107 64936.00000000 NS USD 5546833.12000000 0.392904922476 Long EC CORP US N 1 N N N CBOE GLOBAL MARKETS, INC. 529900RLNSGA90UPEH54 12503M108 52500.00000000 NS USD 13915650.00000000 0.985702520010 Long EC CORP US N 1 N N N EMCOR GROUP, INC. 529900X0SQJB2J7YDU43 29084Q100 6623.00000000 NS USD 4773394.79000000 0.338119115780 Long EC CORP US N 1 N N N Versant Media Group, Inc. 254900D2Q5F5F229PU30 925283103 6610.00000000 NS USD 215353.80000000 0.015254392238 Long EC CORP US N 1 N N N DOVER CORPORATION 549300FMC2ALGA7N9E80 260003108 49200.00000000 NS USD 9913308.00000000 0.702200233351 Long EC CORP US N 1 N N N TECHNIPFMC PLC 549300D5I93QWCJTCK36 G87110105 75841.00000000 NS USD 4225860.52000000 0.299335019476 Long EC CORP GB N 1 N N N T-MOBILE US, INC. 549300QHIJYOHPACPG31 872590104 19782.00000000 NS USD 3901208.22000000 0.276338566544 Long EC CORP US N 1 N N N H & R BLOCK, INC. 549300CE3KUCWLZBG404 093671105 73074.00000000 NS USD 2882769.30000000 0.204198363972 Long EC CORP US N 1 N N N ROCKET COMPANIES, INC. N/A 77311W101 318500.00000000 NS USD 5710705.00000000 0.404512639333 Long EC CORP US N 1 N N N MATTEL, INC. 549300VELLG24KHTJ564 577081102 587500.00000000 NS USD 12272875.00000000 0.869338034175 Long EC CORP US N 1 N N N UNITEDHEALTH GROUP INCORPORATED 549300GHBMY8T5GXDE41 91324P102 23581.00000000 NS USD 6766096.33000000 0.479270332547 Long EC CORP US N 1 N N N COLGATE-PALMOLIVE COMPANY YMEGZFW4SBUSS5BQXF88 194162103 87953.00000000 NS USD 7941276.37000000 0.562513151021 Long EC CORP US N 1 N N N INVITATION HOMES INC. 984500FE452E665C9F85 46187W107 75059.00000000 NS USD 2006327.07000000 0.142116368898 Long EC CORP US N 1 N N N THE PNC FINANCIAL SERVICES GROUP, INC. CFGNEKW0P8842LEUIA51 693475105 15640.00000000 NS USD 3492412.00000000 0.247381854912 Long EC CORP US N 1 N N N THE PROCTER & GAMBLE COMPANY 2572IBTT8CCZW6AU4141 742718109 96643.00000000 NS USD 14667508.11000000 1.038959711281 Long EC CORP US N 1 N N N SS&C TECHNOLOGIES HOLDINGS, INC. 529900POY8H7NPPNKK71 78467J100 207000.00000000 NS USD 16951230.00000000 1.200725092128 Long EC CORP US N 1 N N N CHECK POINT SOFTWARE TECHNOLOGIES LTD. 2549003ZVBH73EPNS513 M22465104 74700.00000000 NS USD 13409397.00000000 0.949842545243 Long EC CORP IL N 1 N N JPMORGAN CHASE & CO. 8I5DZWZKVSZI1NUHU748 46625H100 110629.00000000 NS USD 33840304.81000000 2.397047477417 Long EC CORP US N 1 N N N A. O. SMITH CORPORATION 549300XG4US7UJNECY36 831865209 81970.00000000 NS USD 6023975.30000000 0.426702858557 Long EC CORP US N 1 N N N EDISON INTERNATIONAL 549300I7ROF15MAEVP56 281020107 125154.00000000 NS USD 7794591.12000000 0.552122833603 Long EC CORP US N 1 N N N THE MOSAIC COMPANY 2YD5STGSJNMUB7H76907 61945C103 140968.00000000 NS USD 3876620.00000000 0.274596882152 Long EC CORP US N 1 N N N AMAZON.COM, INC. ZXTILKJKG63JELOEG630 023135106 57100.00000000 NS USD 13664030.00000000 0.967879244195 Long EC CORP US N 1 N N N MEDTRONIC PUBLIC LIMITED COMPANY 549300GX3ZBSQWUXY261 G5960L103 145200.00000000 NS USD 14949792.00000000 1.058955036094 Long EC CORP IE N 1 N N N GEN DIGITAL INC. YF6ZV0M6AU4FY94MK914 668771108 134240.00000000 NS USD 3220417.60000000 0.228115376845 Long EC CORP US N 1 N N N ROYALTY PHARMA PLC 549300FGFN7VOK8BZR03 G7709Q104 83927.00000000 NS USD 3498077.36000000 0.247783155579 Long EC CORP GB N 1 N N N ZOOM COMMUNICATIONS, INC. 549300T9GCHU0ODOM055 98980L101 34870.00000000 NS USD 3211527.00000000 0.227485619211 Long EC CORP US N 1 N N N CITIGROUP INC. 6SHGI4ZSSLCXXQSBB395 172967424 242200.00000000 NS USD 28024962.00000000 1.985122913165 Long EC CORP US N 1 N N N CATERPILLAR INC. WRJR7GS4GTRECRRTVX92 149123101 13061.00000000 NS USD 8585778.96000000 0.608165910835 Long EC CORP US N 1 N N N EAST WEST BANCORP, INC. 254900O4X656YXFOYB11 27579R104 71315.00000000 NS USD 8161288.60000000 0.578097518948 Long EC CORP US N 1 N N N LENNAR CORPORATION 529900G61XVRLX5TJX09 526057104 37335.00000000 NS USD 4082582.25000000 0.289186032414 Long EC CORP US N 1 N N N RLI CORP. 529900AMTJE5ECN9PS55 749607107 28189.00000000 NS USD 1647083.27000000 0.116669658255 Long EC CORP US N 1 N N N JOHNSON & JOHNSON 549300G0CFPGEF6X2043 478160104 120278.00000000 NS USD 27333175.50000000 1.936120840221 Long EC CORP US N 1 N N N EQUITY RESIDENTIAL 5493008RACSH5EP3PI59 29476L107 37111.00000000 NS USD 2312757.52000000 0.163822093516 Long EC CORP US N 1 N N N ARCHER-DANIELS-MIDLAND COMPANY. 549300LO13MQ9HYSTR83 039483102 63470.00000000 NS USD 4272165.70000000 0.302615005148 Long EC CORP US N 1 N N N EQUINIX, INC. 549300EVUN2BTLJ3GT74 29444U700 4439.00000000 NS USD 3644108.27000000 0.258127123413 Long EC CORP US N 1 N N N AMERIPRISE FINANCIAL, INC. 6ZLKQF7QB6JAEKQS5388 03076C106 15117.00000000 NS USD 7969531.23000000 0.564514558551 Long EC CORP US N 1 N N N GENPACT LIMITED 529900OSEC6Q0L4L5B35 G3922B107 72605.00000000 NS USD 3201880.50000000 0.226802318082 Long EC CORP BM N 1 N N N LINCOLN ELECTRIC HOLDINGS, INC. BIMGBY40SIN95O01BN93 533900106 16942.00000000 NS USD 4495559.70000000 0.318438917703 Long EC CORP US N 1 N N N APPLIED MATERIALS, INC. 41BNNE1AFPNAZELZ6K07 038222105 43917.00000000 NS USD 14155327.44000000 1.002679855355 Long EC CORP US N 1 N N N UNUM GROUP 549300E32YFDO6TZ8R31 91529Y106 125900.00000000 NS USD 9564623.00000000 0.677501445785 Long EC CORP US N 1 N N N Altria Group, Inc. XSGZFLO9YTNO9VCQV219 02209S103 167425.00000000 NS USD 10378675.75000000 0.735164138300 Long EC CORP US N 1 N N N COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION 5493006IEVQEFQO40L83 192446102 37504.00000000 NS USD 3077578.24000000 0.217997479578 Long EC CORP US N 1 N N N PPG INDUSTRIES, INC. 549300BKPEP01R3V6C59 693506107 96400.00000000 NS USD 11146732.00000000 0.789568710213 Long EC CORP US N 1 N N N MATCH GROUP, INC. 15OMOPB0A8K0EFUVD031 57667L107 78380.00000000 NS USD 2441537.00000000 0.172944071861 Long EC CORP US N 1 N N N CHEMED CORPORATION 54930020031IDJT2IM79 16359R103 9369.00000000 NS USD 4001874.66000000 0.283469183051 Long EC CORP US N 1 N N N ETSY, INC. 54930089Q7XT501AEA40 29786A106 70004.00000000 NS USD 3707411.84000000 0.262611174713 Long EC CORP US N 1 N N N MASCO CORPORATION 5GCSNMQXHEYA1JO8QN11 574599106 78595.00000000 NS USD 5194343.55000000 0.367936641625 Long EC CORP US N 1 N N N WELLTOWER INC. 254900F33BIAR82QTA19 95040Q104 24191.00000000 NS USD 4556616.76000000 0.322763839493 Long EC CORP US N 1 N N N ABBVIE INC. FR5LCKFTG8054YNNRU85 00287Y109 61463.00000000 NS USD 13706863.63000000 0.970913325753 Long EC CORP US N 1 N N N INVESCO GOVERNMENT & AGENCY PORTFOLIO N/A 825252885 789057.69000000 NS USD 789057.69000000 0.055892189977 Long STIV RF US N 1 N N ON SEMICONDUCTOR CORPORATION ZV20P4CNJVT8V1ZGJ064 682189105 77238.00000000 NS USD 4625783.82000000 0.327663225821 Long EC CORP US N 1 N N N MSILF Government Portfolio N/A 61747C707 789057.68000000 NS USD 789057.68000000 0.055892189269 Long STIV RF US N 1 N N Everest Group, Ltd. 549300N24XF2VV0B3570 G3223R108 21913.00000000 NS USD 7259338.64000000 0.514208706819 Long EC CORP BM N 1 N N N APPLE INC. HWUPKR0MPOU8FGXBT394 037833100 14387.00000000 NS USD 3733138.76000000 0.264433517893 Long EC CORP US N 1 N N N SIMON PROPERTY GROUP, INC. 529900GQL5X8H7AO3T64 828806109 14198.00000000 NS USD 2716219.38000000 0.192400950567 Long EC CORP US N 1 N N N TEVA PHARMACEUTICAL INDUSTRIES LIMITED 549300BAFGM4RC74ZJ94 881624209 687900.00000000 NS USD 23443632.00000000 1.660608533600 Long CORP IL N 1 N N N REGENERON PHARMACEUTICALS, INC. 549300RCBFWIRX3HYQ56 75886F107 19131.00000000 NS USD 14184679.95000000 1.004759013934 Long EC CORP US N 1 N N N BRISTOL-MYERS SQUIBB COMPANY HLYYNH7UQUORYSJQCN42 110122108 160557.00000000 NS USD 8838662.85000000 0.626078713158 Long EC CORP US N 1 N N N TENET HEALTHCARE CORPORATION 0W9AIBT6U6ADJ2I8HK17 88033G407 20657.00000000 NS USD 3909956.96000000 0.276958275653 Long EC CORP US N 1 N N N AMPHENOL CORPORATION 549300D3L3G0R4U4VT04 032095101 43200.00000000 NS USD 6224256.00000000 0.440889561349 Long EC CORP US N 1 N N N THE ALLSTATE CORPORATION OBT0W1ED8G0NWVOLOJ77 020002101 30335.00000000 NS USD 6036361.65000000 0.427580234491 Long EC CORP US N 1 N N N DOMINO'S PIZZA, INC. 25490005ZWM1IF9UXU57 25754A201 8848.00000000 NS USD 3630599.84000000 0.257170265954 Long EC CORP US N 1 N N N DROPBOX, INC. N/A 26210C104 153880.00000000 NS USD 3920862.40000000 0.277730752662 Long EC CORP US N 1 N N N SYSCO CORPORATION 5RGWIFLMGH3YS7KWI652 871829107 81562.00000000 NS USD 6838973.70000000 0.484432535337 Long EC CORP US N 1 N N N MCKESSON CORPORATION 549300WZWOM80UCFSF54 58155Q103 4736.00000000 NS USD 3936610.56000000 0.278846259376 Long EC CORP US N 1 N N N THE CIGNA GROUP 549300VIWYMSIGT1U456 125523100 79387.00000000 NS USD 21760770.57000000 1.541404561641 Long EC CORP US N 1 N N N ZIONS BANCORPORATION, NATIONAL ASSOCIATION 8WH0EE09O9V05QJZ3V89 989701107 84742.00000000 NS USD 5076893.22000000 0.359617153404 Long EC CORP US N 1 N N N VENTAS, INC. ORQTRC074CWLT3DKHT41 92276F100 30328.00000000 NS USD 2355575.76000000 0.166855084937 Long EC CORP US N 1 N N N FAIRFAX FINANCIAL HOLDINGS LIMITED GLS7OQD0WOEDI8YAP031 303901102 7200.00000000 NS 11883463.83000000 0.841754445080 Long EC CORP CA N 1 N N N EXPEDIA GROUP, INC. N/A 30212P303 22123.00000000 NS USD 5859055.32000000 0.415020900482 Long EC CORP US N 1 N N N MGIC INVESTMENT CORPORATION 254900S8483WM4M98R28 552848103 117403.00000000 NS USD 3160488.76000000 0.223870371502 Long EC CORP US N 1 N N N NVR, Inc. 529900RWXR4JI3JYTV70 62944T105 713.00000000 NS USD 5444275.49000000 0.385640345231 Long EC CORP US N 1 N N N CORPAY, INC. 549300DG6RR0NQSFLN74 219948106 51600.00000000 NS USD 16234908.00000000 1.149985069165 Long EC CORP US N 1 N N N NATIONAL FUEL GAS COMPANY 8JB38FFW1Y3C1HM8E841 636180101 92285.00000000 NS USD 7728868.75000000 0.547467448786 Long EC CORP US N 1 N N N VERIZON COMMUNICATIONS INC. 2S72QS2UO2OESLG6Y829 92343V104 147982.00000000 NS USD 6588158.64000000 0.466666276722 Long EC CORP US N 1 N N N PG&E CORPORATION 8YQ2GSDWYZXO2EDN3511 69331C108 114815.00000000 NS USD 1770447.30000000 0.125408038083 Long EC CORP US N 1 N N N STEEL DYNAMICS, INC. 549300HGGKEL4FYTTQ83 858119100 37931.00000000 NS USD 6811269.67000000 0.482470145353 Long EC CORP US N 1 N N N ADOBE INC. FU4LY2G4933NH2E1CP29 00724F101 24700.00000000 NS USD 7243275.00000000 0.513070853364 Long EC CORP US N 1 N N N VERISK ANALYTICS, INC. 549300I1YSWNIRKBWP67 92345Y106 13986.00000000 NS USD 3041395.56000000 0.215434512066 Long EC CORP US N 1 N N N LOCKHEED MARTIN CORPORATION DPRBOZP0K5RM2YE8UU08 539830109 19244.00000000 NS USD 12204929.68000000 0.864525188699 Long EC CORP US N 1 N N N UNITED PARCEL SERVICE, INC. D01LMJZU09ULLNCY6Z23 911312106 29251.00000000 NS USD 3107041.22000000 0.220084463200 Long EC CORP US N 1 N N N SEI INVESTMENTS COMPANY 5LJTIFADGZ6XH1RVOC11 784117103 69444.00000000 NS USD 6100655.40000000 0.432134424298 Long EC CORP US N 1 N N N MANHATTAN ASSOCIATES, INC. 529900Q1GJP7KD52SW51 562750109 15291.00000000 NS USD 2309093.91000000 0.163562585005 Long EC CORP US N 1 N N N FERGUSON ENTERPRISES INC. 2138003JYQMRP3SLX189 31488V107 17398.00000000 NS USD 4392299.08000000 0.311124544796 Long EC CORP US N 1 N N N 2026-03-02 Victory Portfolios III Carol Trevino Carol Trevino Treasurer XXXX