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        <name>State Street SPDR S&amp;P Emerging Mkts Small Cap ETF</name>
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        <name>THE NEW YORK TIMES COMPANY</name>
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        <name>JPMorgan BetaBuilders Canada ETF</name>
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        <name>ADOBE INC.</name>
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        <name>iShares MSCI Canada ETF</name>
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        <name>GE VERNOVA INC.</name>
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        <name>VictoryShares Emerging Markets Value Momentum ETF</name>
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        <name>APPLE INC.</name>
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        <name>iShares Core S&amp;P Small-Cap ETF</name>
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        <name>NETAPP, INC.</name>
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        <name>THE PROGRESSIVE CORPORATION</name>
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        <name>COMFORT SYSTEMS USA, INC.</name>
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        <name>JPMORGAN CHASE &amp; CO.</name>
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        <name>AMERICAN EXPRESS COMPANY</name>
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        <name>INVESCO GOVERNMENT &amp; AGENCY PORTFOLIO</name>
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        <name>CF INDUSTRIES HOLDINGS, INC.</name>
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        <name>iShares Core Universal USD Bond Market ETF</name>
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        <name>iShares Trust - iShares 20+ Year Treasury Bond ETF</name>
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        <title>ISHARES 20 YEAR TREASURY BO</title>
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        <name>AXIS CAPITAL HOLDINGS LIMITED</name>
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        <name>iShares Core S&amp;P 500 ETF</name>
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        <name>VictoryShares International Free Cash Flow Gr ETF</name>
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        <name>BOOKING HOLDINGS INC.</name>
        <lei>FXM8FAOHMYDIPD38UZ17</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>EDISON INTERNATIONAL</name>
        <lei>549300I7ROF15MAEVP56</lei>
        <title>EDISON INTERNATIONAL</title>
        <cusip>281020107</cusip>
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          <isin value="US2810201077"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AMPHENOL CORPORATION</name>
        <lei>549300D3L3G0R4U4VT04</lei>
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          <isin value="US0320951017"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ABBVIE INC.</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>ABBVIE INC</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CRH PUBLIC LIMITED COMPANY</name>
        <lei>549300MIDJNNTH068E74</lei>
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          <isin value="IE0001827041"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UNITED AIRLINES HOLDINGS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GENERAL MOTORS COMPANY</name>
        <lei>54930070NSV60J38I987</lei>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>DROPBOX, INC.</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WELLS FARGO &amp; COMPANY</name>
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        <title>WELLS FARGO CO</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LEIDOS HOLDINGS, INC.</name>
        <lei>549300IUTGTP6EJP8124</lei>
        <title>LEIDOS HOLDINGS INC</title>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ZOOM COMMUNICATIONS, INC.</name>
        <lei>549300T9GCHU0ODOM055</lei>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>MCKESSON CORPORATION</name>
        <lei>549300WZWOM80UCFSF54</lei>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>JOHNSON &amp; JOHNSON</name>
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        <title>JOHNSON JOHNSON</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>The Travelers Companies, Inc.</name>
        <lei>549300Y650407RU8B149</lei>
        <title>TRAVELERS COMPANIES INC</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Vanguard 500 Index Fund</name>
        <lei>N/A</lei>
        <title>VANGUARD S P 500 ETF</title>
        <cusip>922908363</cusip>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>FERGUSON ENTERPRISES INC.</name>
        <lei>2138003JYQMRP3SLX189</lei>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <name>SPDR Gold Shares</name>
        <lei>N/A</lei>
        <title>SPDR GOLD SHARES ETF</title>
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        <name>EBAY INC.</name>
        <lei>OML71K8X303XQONU6T67</lei>
        <title>EBAY INC</title>
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        <name>FIDELITY NATIONAL FINANCIAL, INC</name>
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        <title>FIDELITY NATIONAL FINANCIAL</title>
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        <name>MICROSOFT CORPORATION</name>
        <lei>INR2EJN1ERAN0W5ZP974</lei>
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        <name>US FOODS HOLDING CORP.</name>
        <lei>549300UGOZSO64CFPR97</lei>
        <title>US FOODS HOLDING CORP</title>
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        <name>MILLICOM INTERNATIONAL CELLULAR S.A.</name>
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        <title>MILLICOM INTERNATIONAL CELLULAR SA</title>
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        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <name>GEN DIGITAL INC.</name>
        <lei>YF6ZV0M6AU4FY94MK914</lei>
        <title>GEN DIGITAL INC</title>
        <cusip>668771108</cusip>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <name>VictoryShares Short-Term Bond ETF</name>
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        <name>Invesco RAFI Emerging Markets ETF</name>
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        <name>VictoryShares Core Plus Bd ETF</name>
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        <name>COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION</name>
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        <name>NUCOR CORPORATION</name>
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        <name>Popular, Inc.</name>
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        <name>VictoryShares Core Intermediate Bond ETF</name>
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        <name>iShares 7-10 Year Treasury Bond ETF</name>
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        <name>W. R. BERKLEY CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Vanguard Short-Term Corporate Bond Idx Fd</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <isRestrictedSec>N</isRestrictedSec>

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        <name>iShares 0-5 Year TIPS Bond ETF</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>RELIANCE, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>HSBC US GOVERNMENT MONEY MARKET FUND</name>
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        <name>CVS HEALTH CORPORATION</name>
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        <name>VERISIGN, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>HALLIBURTON COMPANY</name>
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        <name>iShares, Inc - iShares MSCI Japan ETF</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>BRISTOL-MYERS SQUIBB COMPANY</name>
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        <name>Vanguard Mortgage-Backed Secs Idx Fund</name>
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        <name>ALPHABET INC.</name>
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        <name>THE CIGNA GROUP</name>
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        <name>ALLISON TRANSMISSION HOLDINGS, INC.</name>
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        <name>PULTEGROUP, INC.</name>
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        <name>INGREDION INCORPORATED</name>
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        <name>Vanguard European Stock Index Fund</name>
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        <name>SYSCO CORPORATION</name>
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        <name>GODADDY INC.</name>
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        <name>NVIDIA CORPORATION</name>
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        <title>NVIDIA CORP</title>
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        <name>THE CHARLES SCHWAB CORPORATION</name>
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        <title>THE CHARLES SCHWAB CORP</title>
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        <name>Vanguard Total Bond Market Index Fund</name>
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        <name>DELTA AIR LINES, INC.</name>
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        <name>THE KROGER CO.</name>
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        <name>LOWE'S COMPANIES, INC.</name>
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        <name>THE TJX COMPANIES, INC.</name>
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        <name>Vanguard FTSE All World ex US Index Fund Investor Shares</name>
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        <name>TECHNIPFMC PLC</name>
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        <name>Invesco RAFI Developed Mkts ex-US ETF</name>
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        <name>Philip Morris International Inc.</name>
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        <name>Schwab Fundamental EM Equity ETF</name>
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        <name>PALANTIR TECHNOLOGIES INC.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>LULULEMON ATHLETICA INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>GILEAD SCIENCES, INC.</name>
        <lei>549300WTZWR07K8MNV44</lei>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>TALEN ENERGY CORP</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>KLA CORPORATION</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AMAZON.COM, INC.</name>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>DOLLAR GENERAL CORPORATION</name>
        <lei>OPX52SQVOZI8IVSWYU66</lei>
        <title>DOLLAR GENERAL CORP</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </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>