VICTORY MARKET NEUTRAL INCOME FUND

NPORT-P false 0000908695 XXXXXXXX S000022884 C000066374 USAA Mutual Funds Trust 811-07852 0000908695 549300WIDR2J6W1Y9S11 15935 La Cantera Pkwy Building Two San Antonio 78256 800-235-8396 Target Retirement 2020 Fund S000022884 549300WKSSK0RMCDEH41 2019-12-31 2019-12-31 N 584140201.62 2801409.75 581338791.87 0 0 0 0 0 0 0 0 0 0 0 0 0 625113.8 USD N Victory Portfolios II: Victory Market Neutral Income Fund; Class I Shares 549300K0CUZCEEMBX789 VICTORY MARKET NEUTRAL INCOME FUND 92647P654 1955333.15000000 NS USD 18810304.90000000 3.235687203926 Long RF US N 1 N N N VictoryShares Emerging Market Vol Wtd Idx ETF N/A VICTORYSHARES ETF 92647N857 102075.00000000 NS USD 2710050.42000000 0.466174020708 Long RF US N 1 N N Victory Portfolios II: VictoryShares USAA MSCI Emerging Markets Value Momentum ETF N/A VICTORYSHARES USAA MSCI EMERGI 92647N543 131534.00000000 NS USD 5903245.92000000 1.015457079857 Long RF US N 1 N N N VictoryShares US SmCp High Div Vol Wtd Idx ETF N/A VICTORYSHARES US SMALL CAP HIGH DIV VOLATILITY WTD 92647N873 29385.00000000 NS USD 1381976.55000000 0.237723091823 Long RF US N 1 N N N VictoryShares Dividend Accelerator ETF N/A VICTORYSHARES DIVIDEND ACCELERATOR ETF 92647N667 253038.00000000 NS USD 9043578.12000000 1.555646766820 Long RF US N 1 N N N Victory Portfolios: Victory Integrity Mid-Cap Value Fund; Class R6 Shares N/A VICTORY INTEGRITY M/C VAL-R6 92647K598 462352.78000000 NS USD 8951149.82000000 1.539747552577 Long RF US N 1 N N N USAA Mutual Funds Trust: 500 Index Fund; Reward Shares N/A USAA S&P 500 INDEX-RWRD 903288769 0.01000000 NS USD 0.44000000 0.000000075687 Long RF US N 1 N N N VictoryShares US Multi-Factor Minimum Vol ETF 5493004HRSYZ4WW5CD82 VICTORYSHARES US MULTI-FACTOR MIN VOL WTD ETF 92647N691 260745.00000000 NS USD 8625444.60000000 1.483720804568 Long RF US N 1 N N N USAA Mutual Funds Trust: Government Securities Fund; Institutional Class Shares N/A USAA GOVERNMENT SECURITIES FUND 903287787 16427325.52300000 NS USD 162466249.42000000 27.94691351963 Long RF US N 1 N N N USAA Mutual Funds Trust: Global Managed Volatility Fund; Institutional Class Shares N/A USAA GLOBAL MANAGED VOLATILITY FUND 903288710 5655420.96420000 NS USD 62831726.91000000 10.80810841951 Long RF US N 1 N N N Victory Portfolios II: VictoryShares USAA MSCI USA Value Momentum ETF N/A VICTORYSHARES USAA MSCI USA VA 92647N576 240414.00000000 NS USD 12963122.88000000 2.229874053011 Long RF US N 1 N N N USAA Mutual Funds Trust: Precious Metals & Minerals Fund; Institutional Class Shares N/A USAA PRECIOUS METALS AND MINERALS FUND 903288561 110440.43000000 NS USD 1878591.71000000 0.323149209423 Long RF US N 1 N N N VICTORY RS INTERNATIONAL R6 N/A VICTORY RS INTERNATIONAL R6 92647Q264 696770.04000000 NS USD 7455439.43000000 1.282460337115 Long RF US N 1 N N N USAA Mutual Funds Trust: Target Managed Allocation Fund N/A USAA TARGET MANAGED ALLOCATION FUND 903287829 2953651.54800000 NS USD 32224338.39000000 5.543125427144 Long RF US N 1 N N N Victory Portfolios II: VictoryShares USAA Core Intermediate-Term Bond ETF N/A VICTORYSHARES USAA CORE INTERM 92647N527 31835.00000000 NS USD 1653509.90000000 0.284431371710 Long RF US N 1 N N N VictoryShares International Volatility Wtd Idx ETF 549300PQPRGG1DP3EJ39 VICTORYSHARES INTERNATIONAL VOLATILITY WTD ETF 92647N840 80640.00000000 NS USD 3208980.10000000 0.551998274479 Long RF US N 1 N N N USAA Mutual Funds Trust: Income Stock Fund; Institutional Class Shares N/A USAA INCOME STOCK FUND 903288660 370325.06000000 NS USD 6595489.32000000 1.134534528271 Long RF US N 1 N N N USAA Mutual Funds Trust: Income Fund; Institutional Class Shares N/A USAA INCOME FUND 903288611 8008198.19100000 NS USD 107229773.78000000 18.44531541325 Long RF US N 1 N N N USAA Mutual Funds Trust: Short-Term Bond Fund; Institutional Class Shares N/A USAA SHORT-TERM BOND FUND 903288587 8383415.68400000 NS USD 77378926.76000000 13.31047021842 Long RF US N 1 N N N VictoryShares Internatl High Div Vol Wtd Idx ETF N/A VICTORYSHARES INTL HIGH DIV VOLATILITY WTD ETF 92647N881 85388.00000000 NS USD 2899870.41000000 0.498826235330 Long RF US N 1 N N N USAA Mutual Funds Trust: Small Cap Stock Fund; Institutional Class Shares N/A USAA SMALL CAP STOCK FUND 903288645 274675.24000000 NS USD 4551368.73000000 0.782911581619 Long RF US N 1 N N N VictoryShares US 500 Volatility Wtd Index ETF N/A VICTORYSHARES US 500 VOLITILITY 92647N766 597.00000000 NS USD 33682.74000000 0.005793994908 Long RF US N 1 N N N USAA Mutual Funds Trust: Growth Fund; Institutional Class Shares N/A USAA GROWTH FUND 903288678 362385.30900000 NS USD 9418394.18000000 1.620121401103 Long RF US N 1 N N N Victory Portfolios II: VictoryShares USAA MSCI International Value Momentum ETF N/A VICTORYSHARES USAA MSCI INTERN 92647N550 192678.00000000 NS USD 8883900.89000000 1.528179611311 Long RF US N 1 N N N USAA Mutual Funds Trust: High Income Fund; Institutional Class Shares N/A USAA HIGH INCOME FUND 903288579 1826381.03000000 NS USD 14501465.38000000 2.494494704774 Long RF US N 1 N N N Victory Portfolios II: VictoryShares USAA MSCI USA Small Cap Value Momentum ETF N/A VICTORYSHARES USAA MSCI USA SM 92647N568 53393.00000000 NS USD 2892832.74000000 0.497615638325 Long RF US N 1 N N N Victory Portfolios: Victory Trivalent International Fund-Core Equity; Class R6 Shares N/A VICTORY TRIVALENT INTL FUND-C/E-R6 92646A120 766527.92000000 NS USD 5679971.89000000 0.977050210554 Long RF US N 1 N N N FIDELITY GOVERNMENT MONEY MARKET FUND N/A Fidelity Government Class I Fund - FIGXX 1.81% 8/24/2018 - Extendable 316175108 2728458.00000000 NS USD 2728458.00000000 0.469340432490 Long STIV RF US N 1 N N 2020-01-30 USAA Mutual Funds Trust James K. De Vries James K. De Vries Treasurer