# Portfolio overlap — CSF vs MAADX

Comparing **VictoryShares US Discovery Enhanced Volatility Wtd ETF** (2025-03-31) and **Dynamic Value Portfolio** (2025-06-30).

- Shared positions: 40
- VictoryShares US Discovery Enhanced Volatility Wtd ETF covered by Dynamic Value Portfolio: 0.08478734419051499906809490934
- Dynamic Value Portfolio covered by VictoryShares US Discovery Enhanced Volatility Wtd ETF: 0.08478734419051499906809490934

## VictoryShares US Discovery Enhanced Volatility Wtd ETF — top positions

| Security | Weight | Shared |
|----------|--------|--------|
| IDACORP INC | 0.004191 |  |
| PORTLAND GENERAL ELECTRIC CO | 0.004075 |  |
| FEDERATED HERMES INC | 0.004069 |  |
| NEW JERSEY RESOURCES CORP | 0.003927 |  |
| FLOWERS FOODS INC | 0.003900 |  |
| TXNM ENERGY INC | 0.003845 |  |
| BLACK HILLS CORP | 0.003844 |  |
| MADISON SQUARE GARDEN SPORTS CORP | 0.003769 |  |
| NORTHWEST NATURAL HOLDING CO | 0.003707 |  |
| NORTHWESTERN ENERGY GROUP INC | 0.003662 |  |
| CHESAPEAKE UTILITIES CORP | 0.003628 |  |
| AVISTA CORP | 0.003624 |  |
| ONE GAS INC | 0.003575 |  |
| AMER STATES WATE | 0.003527 |  |
| MERIT MEDICAL SYSTEMS INC | 0.003507 |  |
| SONOCO PRODUCTS CO | 0.003476 | ✓ |
| CALIF WATER SRVC | 0.003448 |  |
| FIRST AMERICAN FINANCIAL CORP | 0.003393 |  |
| SPIRE INC | 0.003392 |  |
| AXIS CAPITAL | 0.003390 |  |
| WHITE MOUNTAINS | 0.003327 |  |
| SILGAN HOLDINGS INC | 0.003250 |  |
| FIRSTCASH HOLDINGS INC | 0.003230 |  |
| HANOVER INSURANCE GROUP INC | 0.003228 |  |
| SENSIENT TECHNOLOGIES CORP | 0.003110 |  |
| REYNOLDS CONSUMER PRODUCTS INC | 0.003096 | ✓ |
| BRADY CORPORATION CL A | 0.003087 |  |
| WD-40 CO | 0.003076 |  |
| CASELLA WASTE SYS INC CL A | 0.003075 |  |
| MGE ENERGY INC | 0.003049 |  |
| SOUTHWEST GAS HOLDINGS INC | 0.003035 |  |
| HSBC US GOVT MMKT-I | 0.003026 |  |
| MSILF-GOVT-INS | 0.003026 | ✓ |
| MONEYMKT | 0.003026 |  |
| Invesco Government & Agency Portfolio, Institutional Class | 0.003026 |  |
| MAXIMUS INC | 0.003015 |  |
| CCC INTELLIGENT SOLUTIONS HOLD CL A | 0.003002 |  |
| WESTERN UNION CO | 0.002939 | ✓ |
| SJW GROUP | 0.002938 |  |
| NEWMARKET CORP | 0.002918 |  |
| NMI HOLDINGS INC A | 0.002915 |  |
| EXLSERVICE HOLDINGS INC | 0.002906 |  |
| ASSURED GUARANTY | 0.002903 |  |
| KEMPER CORP | 0.002900 |  |
| BALCHEM CORP | 0.002900 |  |
| UL SOLUTIONS INC CL A | 0.002887 |  |
| GENWORTH FINANCIAL INC A | 0.002880 |  |
| YELP INC | 0.002854 |  |
| TOOTSIE ROLL INDUSTRIES INC | 0.002848 |  |
| J & J SNACK FOOD | 0.002841 |  |

## Dynamic Value Portfolio — top positions

| Security | Weight | Shared |
|----------|--------|--------|
| MSILF-GOVT-INS | 0.024085 | ✓ |
| VERIZON COMMUNICATIONS INC | 0.019628 |  |
| ZIONS BANCORP NA | 0.011077 |  |
| WESTERN ALLIANCE BANCORP | 0.011035 |  |
| FIRST CITIZENS BANCSHARES INC CL A | 0.010925 |  |
| BOK FINL CORP | 0.010857 |  |
| FNB CORP PA | 0.010834 | ✓ |
| BANK OZK | 0.010780 | ✓ |
| COLUMBIA BANKING SYSTEMS INC | 0.010775 | ✓ |
| SPECTRUM BRANDS HOLDINGS INC | 0.008564 | ✓ |
| REYNOLDS CONSUMER PRODUCTS INC | 0.008457 | ✓ |
| TARGET CORP | 0.008427 |  |
| KROGER CO | 0.008156 |  |
| ALBERTSONS COS INC CL A | 0.008017 |  |
| NORTHERN TRUST CORP | 0.007863 |  |
| WEATHERFORD INTERNATIONAL PLC | 0.007759 |  |
| COREBRIDGE FINANCIAL INC | 0.007575 |  |
| SYNCHRONY FINANCIAL | 0.007517 |  |
| INVESCO LTD | 0.007412 |  |
| AFFIL MANAGERS | 0.007388 | ✓ |
| STATE STREET CORP | 0.007379 |  |
| JANUS HENDERSON GROUP PLC | 0.007370 |  |
| CHORD ENERGY CORP | 0.007364 |  |
| VOYA FINANCIAL INC | 0.007356 |  |
| ONEMAIN HOLDINGS INC | 0.007355 | ✓ |
| MATADOR RESOURCES COMPANY | 0.007354 |  |
| DEVON ENERGY CORP | 0.007343 |  |
| ALLY FINANCIAL INC | 0.007316 |  |
| FRANKLIN RESOURCES INC | 0.007305 |  |
| GLOBAL PAYMENTS INC | 0.007265 |  |
| OVINTIV INC | 0.007256 |  |
| T ROWE PRICE GRP | 0.007223 |  |
| NOV INC | 0.007179 |  |
| MGIC INVT CORP | 0.007178 |  |
| APA CORP | 0.007149 |  |
| RITHM CAPITAL CORP | 0.006975 |  |
| WESTERN UNION CO | 0.006866 | ✓ |
| CIVITAS RESOURCES INC | 0.006745 |  |
| REGENERON PHARMACEUTICALS INC | 0.005988 |  |
| ACADIA HEALTHCARE CO INC | 0.005985 | ✓ |
| THE CIGNA GROUP | 0.005970 |  |
| UNIVERSAL HLTH-B | 0.005940 |  |
| ELEVANCE HEALTH INC | 0.005915 |  |
| PFIZER INC | 0.005898 |  |
| SENSATA TECHNOLOGIES HOLDING PLC | 0.005892 |  |
| VIATRIS INC | 0.005880 |  |
| QUIDELORTHO CORP | 0.005879 |  |
| PERRIGO CO PLC | 0.005860 |  |
| MDU RESOURCES GROUP INC | 0.005847 | ✓ |
| UNITEDHEALTH GRP | 0.005819 |  |


## Sources

- N-PORT (fund A) — accession `0001752724-25-128252` (as of 2025-03-31)
  <https://www.sec.gov/Archives/edgar/data/1547580/000175272425128252/0001752724-25-128252-index.htm>
- N-PORT (fund B) — accession `0001752724-25-199135` (as of 2025-06-30)
  <https://www.sec.gov/Archives/edgar/data/741375/000175272425199135/0001752724-25-199135-index.htm>

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