MSILF GOVERNMENT-INST

NPORT-P false 0000908695 XXXXXXXX S000037227 C000114653 Victory Portfolios III 811-07852 0000908695 549300WIDR2J6W1Y9S11 15935 La Cantera Pkwy Building Two San Antonio 78256 800-235-8396 Victory Cornerstone Equity Fund S000037227 549300XGC2RDFOHG8M84 2025-02-28 2024-11-30 N 256859135.30 1784409.53 255074725.77 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 646337.80000000 N MSILF Government Portfolio N/A MSILF GOVERNMENT-INST 61747C707 434043.75000000 NS USD 434043.75000000 0.170163370239 Long STIV RF US N 1 N N USAA Mutual Funds Trust: International Fund; Institutional Class Shares N/A VICTORY INTERNATIONAL FUND 903288637 1418889.67900000 NS USD 39728911.01000000 15.57540085167 Long RF US N 1 N N N USAA Mutual Funds Trust: Small Cap Stock Fund; Institutional Class Shares N/A VICTORY SMALL CAP STOCK FUND 903288645 0.00300000 NS USD 0.05000000 0.000000019602 Long RF US N 1 N N N USAA Mutual Funds Trust: Emerging Markets Fund; Institutional Class Shares N/A VICTORY EMERGING MARKETS FUND 903288629 593339.92000000 NS USD 12341470.34000000 4.838374442134 Long RF US N 1 N N N VictoryShares Small Cap Free Cash Flow ETF N/A VICTORYSHARES SMALL CAP FREE CASH FLOW ETF 92647X822 161062.00000000 NS USD 4553222.74000000 1.785054448752 Long RF US N 1 N N N GOLDMAN SACHS FINANCIAL SQUARE GOVERNMENT FUND N/A GLDMN SCHS FIN SQ GV-FST 38141W273 434043.75000000 NS USD 434043.75000000 0.170163370239 Long STIV RF US N 1 N N USAA Mutual Funds Trust: Target Managed Allocation Fund N/A VICTORY TARGET MANAGED ALLOCATION FUND 903287829 1061626.70200000 NS USD 11762823.86000000 4.611520731617 Long RF US N 1 N N N INVESCO GOVERNMENT & AGENCY PORTFOLIO N/A INVESCO GVT & AGNCY-INST 825252885 434043.75000000 NS USD 434043.75000000 0.170163370239 Long STIV RF US N 1 N N USAA Mutual Funds Trust: Income Stock Fund; Institutional Class Shares N/A VICTORY INCOME STOCK FUND 903288660 538826.03700000 NS USD 11854172.81000000 4.647333354653 Long RF US N 1 N N N HSBC US GOVERNMENT MONEY MARKET FUND N/A HSBC US GOVT MMKT-I 40428X107 434043.75000000 NS USD 434043.75000000 0.170163370239 Long STIV RF US N 1 N N USAA Mutual Funds Trust: Precious Metals & Minerals Fund; Institutional Class Shares N/A VICTORY PRECIOUS METALS AND MINERALS FUND 903288561 45941.63900000 NS USD 969828.00000000 0.380213287330 Long RF US N 1 N N N VictoryShares International Value Momentum ETF N/A VICTORYSHARES INTERNATIONAL VA 92647N550 487611.00000000 NS USD 23293177.47000000 9.131903366624 Long RF US N 1 N N N VictoryShares Free Cash Flow ETF N/A VICTORYSHARES FREE CASH FLOW ETF 92647X830 422092.00000000 NS USD 15452788.12000000 6.058141618442 Long RF US N 1 N N USAA Mutual Funds Trust: 500 Index Fund; Reward Shares N/A VICTORY 500 INDEX FUND 903288769 697945.01100000 NS USD 53902293.20000000 21.13196163880 Long RF US N 1 N N N USAA Mutual Funds Trust: Nasdaq-100 Index Fund; Class R6 Shares N/A VICTORY NASDAQ 100 INDEX FUND 90291A700 378484.01700000 NS USD 19915828.97000000 7.807840980669 Long RF US N 1 N N N VictoryShares WestEnd US Sector ETF N/A VICTORYSHARES WESTEND US SECTOR ETF 92647P126 537787.00000000 NS USD 22199470.91000000 8.703124483613 Long RF US N 1 N N VictoryShares US Small Mid Cap Value Momentum ETF N/A VICTORYSHARES US SMALL MID CAP 92647N568 104594.00000000 NS USD 9605076.21000000 3.765593075129 Long RF US N 1 N N N VictoryShares US Value Momentum ETF N/A VICTORYSHARES US VALUE MOMENTU 92647N576 169156.00000000 NS USD 14754598.27000000 5.784421888707 Long RF US N 1 N N VictoryShares Emerging Markets Value Momentum ETF N/A VICTORYSHARES EMERGING MARKETS 92647N543 299573.00000000 NS USD 14131068.11000000 5.539971891508 Long RF US N 1 N N N 2024-12-30 Victory Portfolios III Carol Trevino Carol Trevino Treasurer XXXX