Investment objective & strategy
As of June 26, 2025 · prospectusObjective. The Victory Government Securities Fund (the Fund) provides investors a high level of current income consistent with preservation of principal.
Strategy. The Fund normally invests at least 80% of its assets in government securities, U.S. Treasury bills, notes, and bonds; Treasury Inflation Protected Securities (TIPS); mortgage-backed securities (MBS) backed by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Mortgage Corporation (Freddie Mac); U.S. government agency collateralized mortgage obligations; securities issued by U.S. government agencies and instrumentalities; and repurchase agreements collateralized by such investments. This 80% policy may be changed upon at least 60 days prior written notice to shareholders. The securities issued by U.S. government agencies and instrumentalities are supported by the credit of the issuing agency, instrumentality, or corporation (which are neither issued nor guaranteed by the U.S. Treasury), … The Fund normally invests at least 80% of its assets in government securities, U.S. Treasury bills, notes, and bonds; Treasury Inflation Protected Securities (TIPS); mortgage-backed securities (MBS) backed by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Mortgage Corporation (Freddie Mac); U.S. government agency collateralized mortgage obligations; securities issued by U.S. government agencies and instrumentalities; and repurchase agreements collateralized by such investments. This 80% policy may be changed upon at least 60 days prior written notice to shareholders. The securities issued by U.S. government agencies and instrumentalities are supported by the credit of the issuing agency, instrumentality, or corporation (which are neither issued nor guaranteed by the U.S. Treasury), including but not limited to, Fannie Mae, Freddie Mac, the Federal Agricultural Mortgage Corporation (Farmer Mac), Federal Farm Credit Bank, Federal Home Loan Bank, Private Export Funding Corp (Pefco), and the Small Business Administration. The effective duration of the Fund is generally within two years of the Bloomberg U.S. Aggregate Government Intermediate & MSB Index.
Top holdings
As of Feb. 28, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| FNMA 30YR 4.5% 06/01/2052#MA4684 | — | $18.05M | 1.49% |
| US TREASURY N/B | — | $17.58M | 1.46% |
| US TREASURY N/B | — | $16.93M | 1.40% |
| US TREASURY N/B | — | $15.96M | 1.32% |
| US TREASURY N/B | — | $15.75M | 1.30% |
| US TREASURY N/B | — | $14.79M | 1.22% |
| US TREASURY N/B | — | $14.35M | 1.19% |
| US TREASURY N/B | — | $14.21M | 1.18% |
| US TREASURY N/B | — | $14.16M | 1.17% |
| US TREASURY N/B | — | $13.68M | 1.13% |
Portfolio moves
Nov 30, 2025 → Feb 28, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| VictoryShares Core Intermediate Bond ETF · UITB | 19% | 0.38% |
| Fidelity SAI U.S. Treasury Bond Index Fund · FUTBX | 19% | 0.03% |
| Victory Core Plus Intermediate Bond Fund · USIBX, UIITX, URIBX, UITBX, UITCX | 17% | 0.41% |
Advisers
| Firm | Role |
|---|---|
| Victory Capital Management Inc. | Adviser |
Footnotes
- Net assets and holdings count as of February 28, 2026, from the fund's N-PORT filing.
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