# Victory Target Retirement 2040 Fund

Victory Target Retirement 2040 Fund is a registered fund series of Victory Portfolios III (series S000022886). Net assets $1.9B as of 2026-04-30.

## Profile

- Series ID: S000022886
- Registrant: Victory Portfolios III
- LEI: 5493004WQDF2J9IG0X82
- Net assets: $1.9B
- Total assets: $1.9B
- As of: 2026-04-30
- Type: Fund of funds

## Advisers

- [Victory Capital Management Inc. (Advisor)](https://search.stillhousedata.com/firm/106189)

## Top holdings (33 reported)

_Showing 15 of 33 holdings by value._

| Holding | Ticker | Value | % of fund |
| --- | --- | --- | --- |
| [USAA Mutual Funds Trust: 500 Index Fund; Reward Shares](https://search.stillhousedata.com/security/903288769) | — | $143.2M | 771.01% |
| [USAA Mutual Funds Trust: Global Managed Volatility Fund; Institutional Class Shares](https://search.stillhousedata.com/security/903288710) | — | $139.6M | 751.40% |
| [Victory Portfolios: Victory RS International Fund; Class R6 Shares](https://search.stillhousedata.com/security/92647Q264) | — | $134.0M | 721.32% |
| [USAA Mutual Funds Trust: Government Securities Fund; Institutional Class Shares](https://search.stillhousedata.com/security/903287787) | — | $116.9M | 629.24% |
| [Victory Portfolios: Victory Trivalent International Fund-Core Equity; Class R6 Shares](https://search.stillhousedata.com/security/92646A120) | — | $98.8M | 532.01% |
| [VictoryShares WestEnd US Sector ETF](https://search.stillhousedata.com/security/92647P126) | — | $95.7M | 515.02% |
| [VictoryShares International Value Momentum ETF](https://search.stillhousedata.com/security/92647N550) | — | $89.7M | 483.04% |
| [USAA Mutual Funds Trust: Nasdaq-100 Index Fund; Class R6 Shares](https://search.stillhousedata.com/security/90291A700) | — | $87.8M | 472.40% |
| [USAA Mutual Funds Trust: Intermediate-Term Bond Fund; Institutional Class Shares](https://search.stillhousedata.com/security/903288595) | — | $82.4M | 443.67% |
| [USAA Mutual Funds Trust: Target Managed Allocation Fund](https://search.stillhousedata.com/security/903287829) | — | $80.8M | 434.75% |
| [VictoryShares US Value Momentum ETF](https://search.stillhousedata.com/security/92647N576) | — | $77.1M | 415.16% |
| [VictoryShares Free Cash Flow ETF](https://search.stillhousedata.com/security/92647X830) | — | $76.4M | 411.14% |
| [VictoryShares Short-Term Bond ETF](https://search.stillhousedata.com/security/92647N535) | — | $64.8M | 348.84% |
| [USAA Mutual Funds Trust: High Income Fund; Institutional Class Shares](https://search.stillhousedata.com/security/903288579) | — | $61.2M | 329.24% |
| [VictoryShares Free Cash Flow Growth ETF](https://search.stillhousedata.com/security/92647X764) | — | $55.0M | 295.96% |

## Net asset history

| Report date | Net assets |
| --- | --- |
| 2026-04-30 | $1.9B |
| 2026-01-31 | $1.8B |
| 2025-10-31 | $1.7B |
| 2025-07-31 | $1.7B |
| 2025-04-30 | $1.6B |
| 2025-01-31 | $1.6B |
| 2024-10-31 | $1.6B |
| 2024-07-31 | $1.6B |

## More

- [Registrant: Victory Portfolios III](https://search.stillhousedata.com/registrant/908695)
- [This page as markdown (for LLM agents)](https://search.stillhousedata.com/fund/S000022886.md)
- [Search all SEC filings, advisers and people on Adviser Search](https://search.stillhousedata.com/)

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Source: public SEC filing data via Adviser Search (https://search.stillhousedata.com).
Agents: this data is also queryable via MCP tools and read-only SQL — see https://search.stillhousedata.com/llms.txt.