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      <invstOrSec>
        <name>WELLTOWER INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>PULTEGROUP, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>CUMMINS INC.</name>
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        <name>HP INC.</name>
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        <name>NORTHERN TRUST CORPORATION</name>
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        <name>iShares Trust - iShares Core S&amp;P 500 ETF</name>
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        <name>JPMORGAN CHASE &amp; CO.</name>
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        <name>PAYCHEX, INC.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Vanguard Tax Managed Fund FTSE Developed Markets ETF</name>
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        <name>Philip Morris International Inc.</name>
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        <name>Vanguard 500 Index Fund</name>
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        <name>Altria Group, Inc.</name>
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        <name>MASTERCARD INCORPORATED.</name>
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        <name>Vanguard Small Cap Value ETF</name>
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        <name>HANG SENG INDEX FUTURE DEC24</name>
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        <name>SPDR Gold Shares</name>
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        <name>VictoryShares Short-Term Bond ETF</name>
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        <name>United States of America</name>
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        <name>BROADCOM INC.</name>
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        <name>T. ROWE PRICE GROUP, INC.</name>
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        <name>GOLDMAN SACHS FINANCIAL SQUARE GOVERNMENT FUND</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>iShares Core MSCI Emerging Markets ETF</name>
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        <title>ISHARES CORE MSCI EMERGING</title>
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        <name>ASX SPI 200 INDEX FUTURE DEC24</name>
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        <name>JABIL INC.</name>
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        <name>VictoryShares WestEnd Economic Cycle Bond ETF</name>
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        <name>VictoryShares Core Intermediate Bond ETF</name>
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        <name>iShares 1-3 Year Treasury Bond ETF</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MARATHON PETROLEUM CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>iShares Trust - iShares 20+ Year Treasury Bond ETF</name>
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        <title>ISHARES 20 YEAR TREASURY BO</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NETAPP, INC</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>VanEck Gold Miners ETF</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

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          <isCashCollateral>N</isCashCollateral>
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        <name>BRISTOL-MYERS SQUIBB CO</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>iShares Russell 2000 ETF</name>
        <lei>549300O80OAR5VTWR172</lei>
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          <isin value="US4642876555"/>
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        <isRestrictedSec>N</isRestrictedSec>

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          <isCashCollateral>N</isCashCollateral>
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        <name>FEDEX CORPORATION</name>
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      <invstOrSec>
        <name>APPLE INC.</name>
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        <name>NRG ENERGY, INC.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>DARDEN RESTAURANTS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>iShares 7-10 Year Treasury Bond ETF</name>
        <lei>N/A</lei>
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        <cusip>464287440</cusip>
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          <isin value="US4642874402"/>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>VictoryShares Core Plus Int Bd ETF</name>
        <lei>N/A</lei>
        <title>VICTORYSHARES CORE PLUS INTERMEDIATE BOND ETF</title>
        <cusip>92647X863</cusip>
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          <isin value="US92647X8636"/>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Schwab Fundamental EM Equity ETF</name>
        <lei>N/A</lei>
        <title>SCHWAB FUNDAMENTAL EMERGING MARKETS EQUITY ETF</title>
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        <name>AMERICAN EXPRESS COMPANY</name>
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        <name>NUCOR CORPORATION</name>
        <lei>549300GGJCRSI2TIEJ46</lei>
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        <name>STEEL DYNAMICS, INC.</name>
        <lei>549300HGGKEL4FYTTQ83</lei>
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        <name>Invesco DB Commodity Index Tracking Fund</name>
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        <name>VictoryShares Emerging Markets Value Momentum ETF</name>
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        <name>ONEOK, INC.</name>
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        <name>GILEAD SCIENCES, INC.</name>
        <lei>549300WTZWR07K8MNV44</lei>
        <title>GILEAD SCIENCES INC</title>
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        <name>NIKE, INC.</name>
        <lei>787RXPR0UX0O0XUXPZ81</lei>
        <title>NIKE INC CLASS B</title>
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        <name>EQUINIX, INC.</name>
        <lei>549300EVUN2BTLJ3GT74</lei>
        <title>EQUINIX INC</title>
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        <name>Evergy, Inc.</name>
        <lei>549300PGTHDQY6PSUI61</lei>
        <title>EVERGY INC</title>
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        <fairValLevel>1</fairValLevel>
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        <name>CATERPILLAR INC.</name>
        <lei>WRJR7GS4GTRECRRTVX92</lei>
        <title>CATERPILLAR INC</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>AMERIPRISE FINANCIAL, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>MICROCHIP TECHNOLOGY INCORPORATED</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>CISCO SYSTEMS, INC.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Schwab Fundamental Intl Equity ETF</name>
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          <isin value="US8085247554"/>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>WisdomTree Emerging Markets SmallCap Dividend Fund</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Spdr S&amp;P Emerging Markets Small Cap Etf</name>
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          <isin value="US78463X7562"/>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>S P TORONTO STOCK EXCHANGE 60 INDEX FUTURE DEC24</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>MERCK &amp; CO., INC.</name>
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        <name>Vanguard Total Stock Market Index Fund</name>
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        <name>Vanguard FTSE All World ex US Index Fund Investor Shares</name>
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        <name>Invesco FTSE RAFI Developed Mkts ex-US ETF</name>
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        <name>VALERO ENERGY CORPORATION</name>
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        <name>Vanguard Real Estate Index Fund</name>
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        <name>COMCAST CORPORATION</name>
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        <name>iShares Core US Aggregate Bond ETF</name>
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        <name>VERIZON COMMUNICATIONS INC.</name>
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        <name>CROWN CASTLE INC.</name>
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        <name>Schwab Fundamental Intl Small Equity ETF</name>
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        <name>iShares JPMorgan USD Emerging Markets Bond ETF</name>
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        <name>iShares MSCI Intl Momentum Factor ETF</name>
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        <name>CVS HEALTH CORPORATION</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS HEALTH CORP</title>
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        <name>KIMBERLY-CLARK CORPORATION</name>
        <lei>MP3J6QPYPGN75NVW2S34</lei>
        <title>KIMBERLY CLARK CORP</title>
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        <name>TE CONNECTIVITY PUBLIC LIMITED COMPANY</name>
        <lei>6367003TB6K484NFHE54</lei>
        <title>TE CONNECTIVITY PLC</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>iShares 0-5 Year TIPS Bond ETF</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <fairValLevel>1</fairValLevel>
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        <name>INVESCO GOVERNMENT &amp; AGENCY PORTFOLIO</name>
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        <name>APPLIED MATERIALS, INC.</name>
        <lei>41BNNE1AFPNAZELZ6K07</lei>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>PFIZER INC.</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>TOKYO PRICE INDEX FUTURE DEC24</name>
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          <isin value="N/A"/>
          <ticker value="TPXZ24"/>
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        <balance>11.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="149.60000000"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>OSAKA EXCHANGE,INC</counterpartyName>
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            <descRefInstrmnt>
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            <expDate>2024-12-13</expDate>
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      </invstOrSec>
      <invstOrSec>
        <name>LyondellBasell Industries N.V.</name>
        <lei>BN6WCCZ8OVP3ITUUVN49</lei>
        <title>LYONDELLBASELL INDUSTRIES NV</title>
        <cusip>N53745100</cusip>
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        <curCd>USD</curCd>
        <valUSD>186014.88000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2024-12-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Victory Portfolios III</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>
