VICTORY FUND HOLDINGS As of June 30, 2021 VICTORY RS MID CAP GROWTH FUND MATURITY TRADED MARKET TRADED MARKET SECURITY DESCRIPTION DATE VALUE (BASE) VALUE (BASE) % ADVANCED DRAINAGE SYSTEMS INC 3,267,457.10 0.71% ALIGN TECHNOLOGY INC 6,788,210.00 1.48% AMERISOURCEBERGEN CORP. 4,443,356.90 0.97% APELLIS PHARMACEUTICALS INC 3,165,688.00 0.69% ARISTA NETWORKS INC 3,079,635.00 0.67% AVANTOR INC 4,718,923.90 1.03% AXON ENTERPRISE INC 6,244,576.00 1.37% BILL.COM HOLDINGS INC 4,132,540.80 0.90% BOSTON BEER COMPANY INC-CLASS A 3,521,760.00 0.77% BUILDERS FIRSTSOURCE INC 3,443,941.80 0.75% BURLINGTON STORES INC 5,383,672.80 1.18% CAESARS ENTERTAINMENT INC 4,181,125.00 0.91% CARMAX INC. 2,479,680.00 0.54% CARRIER GLOBAL CORP 5,655,096.00 1.24% CENTENE CORP. 3,567,079.23 0.78% CHARLES RIVER LABORATORIES INTERNATIONAL, INC. 8,030,963.20 1.76% CHART INDUSTRIES INC 3,985,756.80 0.87% CHEWY INC-CLASS A 5,215,106.46 1.14% CHIPOTLE MEXICAN GRILL, INC. 9,922,176.00 2.17% COSTAR GROUP INC 6,517,934.00 1.43% CROWDSTRIKE HOLDINGS INC-A 6,242,540.40 1.36% DARDEN RESTAURANTS, INC. 2,988,415.30 0.65% DEXCOM, INC. 5,435,710.00 1.19% DOCUSIGN INC 8,635,917.30 1.89% DOLBY LABORATORIES INC 4,895,824.90 1.07% DROPBOX INC 3,032,818.60 0.66% ENPHASE ENERGY INC 4,557,696.60 1.00% ENTEGRIS INC 7,171,610.40 1.57% FAIR ISAAC CORP. 4,891,076.40 1.07% FARFETCH LTD 4,425,636.80 0.97% FATE THERAPEUTICS INC 3,009,877.20 0.66% FRESHPET INC 6,870,393.60 1.50% GARTNER INC 3,560,340.00 0.78% GENERAC HOLDINGS INC 6,169,129.00 1.35% GODADDY INC - CLASS A 5,702,836.80 1.25% IAC/INTERACTIVECORP 6,046,547.40 1.32% IDEX CORP 2,924,464.50 0.64% INSULET CORP 5,169,023.30 1.13% KLA CORP 4,876,118.40 1.07% KEYSIGHT TECHNOLOGIES INC 5,143,397.10 1.12% LPL FINANCIAL HOLDINGS INC 6,168,586.00 1.35% Page 1 of 3 VICTORY FUND HOLDINGS As of June 30, 2021 VICTORY RS MID CAP GROWTH FUND MATURITY TRADED MARKET TRADED MARKET SECURITY DESCRIPTION DATE VALUE (BASE) VALUE (BASE) % LATTICE SEMICONDUCTOR 4,446,085.20 0.97% LIGHTSPEED POS INC-SUB VOTE 4,772,458.80 1.04% LULULEMON ATHLETICA INC 4,795,705.80 1.05% MSCI INC. COMMON 9,089,014.00 1.99% MARRIOTT VACATIONS WORLDWIDE CORP. 2,802,087.00 0.61% MARVELL TECHNOLOGY INC 6,810,610.80 1.49% MATCH GROUP INC 7,374,607.50 1.61% MERITAGE CORPORATION 2,618,246.40 0.57% MICROCHIP TECHNOLOGY, INC. 6,392,400.60 1.40% MIDDLEBY CORP. 7,472,703.80 1.63% MONOLITHIC POWER SYSTEMS INC 5,717,519.50 1.25% NORDSTROM, INC. 2,586,596.10 0.57% O'REILLY AUTOMOTIVE, INC. 6,817,168.40 1.49% PALO ALTO NETWORKS INC 8,485,913.50 1.86% POOL CORPORATION 9,631,860.00 2.11% RESMED INC 6,064,392.00 1.33% RINGCENTRAL INC CLASS A 15,374,587.80 3.36% RITCHIE BROS. AUCTIONEERS INC 3,997,843.20 0.87% ROKU INC 10,227,497.50 2.24% SCOTTS COMPANY CLASS A 3,247,286.40 0.71% SQUARE INC - A 2,125,936.00 0.46% SYNOPSYS, INC. 10,766,841.60 2.35% TAKE-TWO INTERACTIVE SOFTWARE 4,299,815.80 0.94% TREX INC 3,322,847.10 0.73% TRIMBLE INC. 5,586,534.10 1.22% TWILIO INC 10,165,386.40 2.22% TWITTER INC 7,447,306.30 1.63% VEEVA SYSTEMS INC 6,582,811.50 1.44% VIMEO INC 2,329,656.00 0.51% WEST PHARMACEUTICAL SERVICES, INC. 14,202,405.00 3.11% WESTERN ALLIANCE BANCORP 6,419,649.00 1.40% WEX INC 3,335,080.00 0.73% ZENDESK INC 7,469,595.00 1.63% HORIZON THERAPEUTICS PLC 5,019,104.00 1.10% JAZZ PHARMACEUTICALS PLC 6,125,027.20 1.34% NOVOCURE LTD 6,213,178.20 1.36% PENTAIR PLC 3,273,265.00 0.72% WIX.COM LTD 18,261,514.80 3.99% 100.00% Page 2 of 3 VICTORY FUND HOLDINGS As of June 30, 2021 VICTORY RS MID CAP GROWTH FUND MATURITY TRADED MARKET TRADED MARKET SECURITY DESCRIPTION DATE VALUE (BASE) VALUE (BASE) % Portfolio holdings are subject to change, are unaudited, and do not represent any type of recommendation. The Funds are distributed by Victory Capital Services, Inc. Shares of the Fund may be subject to sales charges and other fees. Carefully consider a fund's investment objectives, risks, charges and expenses before investing. To obtain a prospectus or summary prospectus containing this and other important information, visit www.vcm.com/prospectus. Read it carefully before investing. Page 3 of 3.