VICTORYSHARES FREE CASH FLOW ETF

NPORT-P false 0000908695 XXXXXXXX S000022887 C000066377 Victory Portfolios III 811-07852 0000908695 549300WIDR2J6W1Y9S11 15935 La Cantera Pkwy Building Two San Antonio 78256 800-235-8396 Victory Target Retirement 2050 Fund S000022887 5493004XIFVCVGSBGK17 2025-04-30 2025-04-30 N 989000997.60 218709.54 988782288.06 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 4717888.96000000 N VictoryShares Free Cash Flow ETF N/A VICTORYSHARES FREE CASH FLOW ETF 92647X830 991090.00000000 NS USD 32626682.80000000 3.299683175354 Long RF US N 1 N N N GOLDMAN SACHS FINANCIAL SQUARE GOVERNMENT FUND N/A GLDMN SCHS FIN SQ GV-FST 38141W273 42645.00000000 NS USD 42645.00000000 0.004312880652 Long STIV RF US N 1 N N USAA Mutual Funds Trust: Global Managed Volatility Fund; Institutional Class Shares N/A VICTORY GLOBAL MANAGED VOLATILITY FUND 903288710 11191378.78000000 NS USD 125007700.97000000 12.64259104147 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 1888878.03400000 NS USD 22477648.60000000 2.273265699783 Long RF US N 1 N N N Victory Portfolios: Victory Sophus Emerging Markets Fund; Class R6 Shares N/A VICTORY SOPHUS EMERGING MARKETS FUND 92647Q371 590147.98500000 NS USD 12103935.17000000 1.224125403150 Long RF US N 1 N N N Victory Portfolios: Victory RS International Fund; Class R6 Shares N/A VICTORY RS INTERNATIONAL R6 92647Q264 6170840.71800000 NS USD 82257306.77000000 8.319051399210 Long RF US N 1 N N N VictoryShares Free Cash Flow Growth ETF N/A VICTORYSHARES FREE CASH FLOW GROWTH ETF 92647X764 1014836.00000000 NS USD 23280337.84000000 2.354445272849 Long RF US N 1 N N N USAA Mutual Funds Trust: Target Managed Allocation Fund N/A VICTORY TARGET MANAGED ALLOCATION FUND 903287829 11812736.32900000 NS USD 122970585.18000000 12.43656835937 Long RF US N 1 N N N VictoryShares WestEnd US Sector ETF N/A VICTORYSHARES WESTEND US SECTOR ETF 92647P126 1272654.00000000 NS USD 49315342.50000000 4.987482390765 Long RF US N 1 N N N MSILF Government Portfolio N/A MSILF GOVERNMENT-INST 61747C707 42645.00000000 NS USD 42645.00000000 0.004312880652 Long STIV RF US N 1 N N USAA Mutual Funds Trust: Intermediate-Term Bond Fund; Institutional Class Shares N/A VICTORY CORE PLUS INTERMEDIATE BOND FUND 903288595 4051248.26000000 NS USD 37271483.99000000 3.769432810444 Long RF US N 1 N N N VictoryShares Corporate Bond ETF N/A VICTORYSHARES CORPORATE BOND ETF 92647X855 608750.00000000 NS USD 12884498.13000000 1.303067246004 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 288087.00000000 NS USD 13885793.40000000 1.404332740146 Long RF US N 1 N N VictoryShares International Value Momentum ETF N/A VICTORYSHARES INTERNATIONAL VA 92647N550 997283.00000000 NS USD 53419763.08000000 5.402580904317 Long RF US N 1 N N N INVESCO GOVERNMENT & AGENCY PORTFOLIO N/A INVESCO GVT & AGNCY-INST 825252885 42645.00000000 NS USD 42645.00000000 0.004312880652 Long STIV RF US N 1 N N USAA Mutual Funds Trust: 500 Index Fund; Reward Shares N/A VICTORY 500 INDEX FUND 903288769 977660.66900000 NS USD 67947416.50000000 6.871827835156 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 5988923.40800000 NS USD 52702525.99000000 5.330043491515 Long RF US N 1 N N N USAA Mutual Funds Trust: Precious Metals & Minerals Fund; Institutional Class Shares N/A VICTORY PRECIOUS METALS AND MINERALS FUND 903288561 163608.55000000 NS USD 4682476.70000000 0.473559928868 Long RF US N 1 N N N USAA Mutual Funds Trust: Short-Term Bond Fund; Institutional Class Shares N/A VICTORY SHORT TERM BOND FUND 903288587 103032.28200000 NS USD 940684.73000000 0.095135677626 Long RF US N 1 N N N Victory Portfolios II: Victory Market Neutral Income Fund; Class I Shares 549300K0CUZCEEMBX789 VICTORY MARKET NEUTRAL INCOME FUND 92647P654 847768.07100000 NS USD 7426448.30000000 0.751070118233 Long RF US N 1 N N N VictoryShares Emerging Markets Value Momentum ETF N/A VICTORYSHARES EMERGING MARKETS 92647N543 746226.00000000 NS USD 35296489.80000000 3.569692765153 Long RF US N 1 N N N USAA Mutual Funds Trust: Government Securities Fund; Institutional Class Shares N/A VICTORY GOVERNMENT SECURITIES FUND 903287787 4566112.00700000 NS USD 40729719.10000000 4.119179681091 Long RF US N 1 N N N VictoryShares US Value Momentum ETF N/A VICTORYSHARES US VALUE MOMENTU 92647N576 436053.00000000 NS USD 34012134.00000000 3.439800086501 Long RF US N 1 N N USAA Mutual Funds Trust: Income Stock Fund; Institutional Class Shares N/A VICTORY INCOME STOCK FUND 903288660 1201709.80600000 NS USD 20717477.06000000 2.095251635286 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 792985.36300000 NS USD 38229824.35000000 3.866354081342 Long RF US N 1 N N N USAA Mutual Funds Trust: High Income Fund; Institutional Class Shares N/A VICTORY HIGH INCOME FUND 903288579 1327510.71800000 NS USD 9000522.67000000 0.910263338925 Long RF US N 1 N N N HSBC US GOVERNMENT MONEY MARKET FUND N/A HSBC US GOVT MMKT-I 40428X107 42645.00000000 NS USD 42645.00000000 0.004312880652 Long STIV RF US N 1 N N VictoryShares International Volatility Wtd ETF 549300PQPRGG1DP3EJ39 VICTORYSHARES INTERNATIONAL VOLATILITY WTD ETF 92647N840 442741.00000000 NS USD 21003633.04000000 2.124191876576 Long RF US N 1 N N Victory Portfolios: Victory Integrity Mid-Cap Value Fund; Class R6 Shares N/A VICTORY INTEGRITY M C VAL R6 92647K598 894363.71400000 NS USD 19219876.21000000 1.943792525623 Long RF US N 1 N N N USAA Mutual Funds Trust: Growth Fund; Institutional Class Shares N/A VICTORY GROWTH FUND 903288678 323279.68100000 NS USD 11369746.38000000 1.149873588685 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 501847.00000000 NS USD 11497314.77000000 1.162775153725 Long RF US N 1 N N N VictoryShares US Small Mid Cap Value Momentum ETF N/A VICTORYSHARES US SMALL MID CAP 92647N568 281624.00000000 NS USD 21518889.84000000 2.176302114211 Long RF US N 1 N N 2025-05-30 Victory Portfolios III Carol Trevino Carol Trevino Treasurer