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        <name>Vanguard International Equity Index Funds - Vanguard Emerging Markets Stock Inde</name>
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        <name>VictoryShares Emerging Markets Value Momentum ETF</name>
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        <name>COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION</name>
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        <name>Schwab Fundamental EM Equity ETF</name>
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        <name>THE GOLDMAN SACHS GROUP, INC.</name>
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        <name>ARCHER-DANIELS-MIDLAND COMPANY.</name>
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        <name>iShares MSCI Intl Quality Factor ETF</name>
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        <name>SALESFORCE, INC.</name>
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        <name>iShares Core S&amp;P 500 ETF</name>
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        <name>Invesco DB Commodity Index Tracking Fund</name>
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        <name>VictoryShares Core Plus Bd ETF</name>
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        <name>PROLOGIS, INC.</name>
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        <name>iShares, Inc - iShares MSCI Japan ETF</name>
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        <name>iShares Core Universal USD Bond Market ETF</name>
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        <name>iShares Core MSCI Emerging Markets ETF</name>
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        <name>Invesco RAFI Developed Mkts ex-US ETF</name>
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        <name>STEEL DYNAMICS, INC.</name>
        <lei>549300HGGKEL4FYTTQ83</lei>
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        <name>TAPESTRY, INC.</name>
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        <name>THE PROGRESSIVE CORPORATION</name>
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        <name>VictoryShares Free Cash Flow Growth ETF</name>
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        <name>GILEAD SCIENCES, INC.</name>
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        <name>ABBVIE INC.</name>
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        <name>NXP Semiconductors N.V.</name>
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        <name>TARGET CORPORATION</name>
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        <name>iShares MSCI Intl Momentum Factor ETF</name>
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        <name>State Street SPDR S&amp;P Emerging Mkts Small Cap ETF</name>
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        <name>CROWN CASTLE INC.</name>
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        <name>Vanguard Total Stock Market Index Fund</name>
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        <name>NIKE, INC.</name>
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        <name>AMERICAN EXPRESS COMPANY</name>
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        <name>ALPHABET INC.</name>
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        <name>UNITED PARCEL SERVICE, INC.</name>
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        <name>ONEOK, INC.</name>
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        <name>EOG RESOURCES, INC.</name>
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        <name>Vanguard European Stock Index Fund</name>
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        <name>Vanguard Total Bond Market Index Fund</name>
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        <name>VictoryShares Short-Term Bond ETF</name>
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        <name>Everest Group, Ltd.</name>
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        <name>Vanguard FTSE All World ex US Index Fund Investor Shares</name>
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        <name>APPLE INC.</name>
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        <name>SPDR Gold Shares</name>
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        <name>INVESCO GOVERNMENT &amp; AGENCY PORTFOLIO</name>
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        <name>VictoryShares Core Intermediate Bond ETF</name>
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        <name>WELLTOWER INC.</name>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BROADCOM INC.</name>
        <lei>549300WV6GIDOZJTV909</lei>
        <title>BROADCOM INC</title>
        <cusip>11135F101</cusip>
        <identifiers>
          <isin value="US11135F1012"/>
          <other otherDesc="Internal" value="11135F101"/>
        </identifiers>
        <balance>2125.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>679043.75000000</valUSD>
        <pctVal>0.347307231588</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-03-30</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>
</edgarSubmission>