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Victory Cornerstone Moderately Conservative Fund

Filed by Victory Portfolios III. What this fund reported holding in its latest quarterly NPORT-P. Positions are ordered by share of the fund rather than by size, because that is what separates a conviction from a rounding error.

Positions
96
matched to a ticker
Fund size
$214.8M
the filing's own figure
Matched value
$112.9M
of the positions below
As of
2026-08-31
S000037225

What it holds

Largest share of the fund first.

Company% of fundValue
IUSBiShares Core Total USD Bond Market ETF5.85%$12.4M
AGGiShares Core U.S. Aggregate Bond ETF4.77%$10.1M
BNDVanguard Total Bond Market ETF3.18%$6.8M
IWDiShares Russell 1000 Value ETF2.09%$4.4M
FNDFSchwab Fundamental International Equity ETF1.94%$4.1M
VTIVanguard Total Stock Market ETF1.91%$4M
IJRiShares Core S&P Small-Cap ETF1.86%$3.9M
NVDANVIDIA Corp1.61%$3.4M
IVViShares Core S&P 500 ETF1.55%$3.3M
VGKVanguard FTSEEuropean ETF1.25%$2.6M
IQLTiShares MSCI Intl Quality Factor ETF1.23%$2.6M
PXFInvesco RAFI Developed Markets ex-U.S. ETF1.13%$2.4M
VEUVanguard FTSE All World Ex US ETF1.12%$2.4M
VEAVanguard FTSE Developed Markets ETF0.98%$2.1M
VBRVanguard Small-Cap Value ETF0.97%$2.1M
AAPLApple Inc0.88%$1.9M
MSFTMicrosoft Corp0.83%$1.8M
FNDCSchwab Fundamental International Small Equity ETF0.79%$1.7M
EWCiShares MSCI Canada Index Fund0.79%$1.7M
BBCAJPMorgan BetaBuilders Canada ETF0.78%$1.7M
IEMGiShares Core MSCI Emerging Markets ETF0.78%$1.7M
JPMJPMorgan Chase & Co0.72%$1.5M
VNQVanguard Real Estate ETF0.71%$1.5M
EWJiShares MSCI Japan Index Fund0.66%$1.4M
FNDESchwab Fundamental Emerging Markets Equity ETF0.62%$1.3M
CRMSalesforce Inc0.60%$1.3M
AVGOBroadcom Inc0.60%$1.3M
GSGoldman Sachs Group Inc0.53%$1.1M
PFEPfizer Inc0.53%$1.1M
PGRProgressive Corp0.52%$1.1M
GLDSPDR Gold Shares0.51%$1.1M
AMATApplied Materials Inc0.46%$973.6K
PXHInvesco FTSE RAFI Emerging Markets ETF0.43%$906.6K
VCSHVanguard Short-Term Corporate Bond ETF0.39%$822.3K
CATCaterpillar Inc0.39%$822.2K
EUFNiShares MSCI Europe Financials ETF0.39%$821.8K
ABBVAbbVie Inc0.38%$806.4K
METAMeta Platforms Inc0.35%$753.8K
DBC0.34%$716.8K
MRKMerck & Co Inc0.32%$677.6K
KLACKLA Corp0.31%$658.8K
MOAltria Group Inc0.30%$644.5K
MPCMarathon Petroleum Corp0.26%$547.3K
QCOMQualcomm Inc0.26%$543.3K
FGTXXFinancial Square Government Fund FST Shares0.25%$533.3K
IBKRInteractive Brokers Group Inc0.25%$528K
NEMNewmont Corporation0.24%$512.7K
BMYBristol-Myers Squibb Co0.23%$496.9K
PYPLPayPal Holdings Inc0.23%$485.8K
CSCOCisco Systems Inc0.22%$468.4K
VZVerizon Communications Inc0.22%$467.9K
TAT&T Inc0.21%$451.5K
BKNGBooking Holdings Inc0.21%$442.6K
CAHCardinal Health Inc0.20%$416.5K
DALDelta Air Lines Inc0.19%$409K
AMPAmeriprise Financial Inc0.19%$407.1K
GILDGilead Sciences, Inc0.18%$381.4K
LRCXLam Research Corp0.18%$377.2K
CVSCVS Health Corp0.16%$348.3K
CMCSAComcast Corp0.16%$346.5K
ESEversource Energy0.16%$342.8K
UPSUnited Parcel Service Inc0.16%$339.4K
PEPPepsiCo Inc0.15%$325.9K
HDHome Depot Inc0.15%$321.3K
AXPAmerican Express Co0.14%$289.9K
NTAPNetApp Inc0.13%$280.3K
DELLDell Technologies Inc0.13%$271.8K
KMBKimberly-Clark Corp0.12%$262.8K
TGTTarget Corp0.12%$254.8K
PMPhilip Morris International Inc0.11%$238.8K
BXBlackstone Inc0.11%$229.9K
EXPEExpedia Group Inc0.10%$217.9K
CTSHCognizant Technology Solutions Corp0.10%$215.6K
LMTLockheed Martin Corp0.10%$213.3K
SYYSysco Corp0.10%$210.9K
FEFirstEnergy Corp0.10%$205.3K
DRIDarden Restaurants Inc0.09%$188.5K
USO0.09%$186.6K
LVSLas Vegas Sands Corp0.08%$169.8K
NRGNRG Energy Inc0.08%$166.1K
OTISOtis Worldwide Corp0.08%$164K
EOGEOG Resources Inc0.07%$158K
CLXClorox Co0.07%$153.5K
EQIXEquinix Inc0.06%$127.7K
MASMasco Corp0.05%$116.1K
ADPAutomatic Data Processing Inc0.05%$113K
TPRTapestry Inc0.05%$112.2K
CICigna Group0.04%$87K
CMICummins Inc0.03%$73.4K
HPQHP Inc0.03%$61K
CCICrown Castle Inc0.03%$60.3K
AOSA O Smith Corp0.03%$54K
PLDPrologis Inc0.02%$39.2K
WELLWelltower Inc0.01%$30.9K
PAYXPaychex Inc0.01%$20.1K
NKENike Inc0.01%$18K

Source: NPORT-P filings, via EDGAR. Positions arrive by CUSIP, and only a CUSIP verified against a ticker is kept — so this is what we could match, not everything the fund holds, and the matched value is therefore below the fund's own size. A balance is shares where the filing says `NS` and a principal amount where it says `PA`, which is why it is not labelled shares in both cases.

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