<?xml version="1.0" encoding="UTF-8"?>
<edgarSubmission xmlns="http://www.sec.gov/edgar/npx" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>N-PX</submissionType>
    <filerInfo>
      <registrantType>RMIC</registrantType>
      <liveTestFlag>LIVE</liveTestFlag>
      <filer>
        <issuerCredentials>
          <cik>0000908695</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
      </filer>
      <flags>
        <overrideInternetFlag>false</overrideInternetFlag>
        <confirmingCopyFlag>false</confirmingCopyFlag>
      </flags>
      <investmentCompanyType>N-1A</investmentCompanyType>
      <periodOfReport>06/30/2026</periodOfReport>
    </filerInfo>
    <seriesClass>
      <reportSeriesClass>
        <rptIncludeAllSeriesFlag>true</rptIncludeAllSeriesFlag>
      </reportSeriesClass>
    </seriesClass>
  </headerData>
  <formData>
    <coverPage>
      <yearOrQuarter>YEAR</yearOrQuarter>
      <reportCalendarYear>2026</reportCalendarYear>
      <reportingPerson>
        <name>Victory Portfolios III</name>
        <phoneNumber>800-235-8396</phoneNumber>
        <address>
          <com:street1>15935 La Cantera Parkway</com:street1>
          <com:city>San Antonio</com:city>
          <com:stateOrCountry>TX</com:stateOrCountry>
          <com:zipCode>78256</com:zipCode>
        </address>
      </reportingPerson>
      <reportInfo>
        <reportType>FUND VOTING REPORT</reportType>
      </reportInfo>
      <fileNumber>811-07852</fileNumber>
      <explanatoryInformation>
        <explanatoryChoice>N</explanatoryChoice>
      </explanatoryInformation>
    </coverPage>
    <summaryPage>
      <otherIncludedManagersCount>0</otherIncludedManagersCount>
    </summaryPage>
    <seriesPage>
      <seriesCount>45</seriesCount>
      <seriesDetails>
        <seriesReports>
          <idOfSeries>S000012894</idOfSeries>
          <nameOfSeries>Victory Aggressive Growth Fund</nameOfSeries>
          <leiOfSeries>549300U9NIRZ9WDFHV64</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000012895</idOfSeries>
          <nameOfSeries>Victory Growth Fund</nameOfSeries>
          <leiOfSeries>5493002BRBIU3NVKKE62</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000012896</idOfSeries>
          <nameOfSeries>Victory Growth &amp; Income Fund</nameOfSeries>
          <leiOfSeries>549300HO2ZYTLNVEOP20</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000012897</idOfSeries>
          <nameOfSeries>Victory Growth and Tax Strategy Fund</nameOfSeries>
          <leiOfSeries>54930086DOE05D3CVR93</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000012898</idOfSeries>
          <nameOfSeries>Victory High Income Fund</nameOfSeries>
          <leiOfSeries>549300YX3N277LJWQZ46</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000012899</idOfSeries>
          <nameOfSeries>Victory Income Fund</nameOfSeries>
          <leiOfSeries>549300L6H18DOSG0F641</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000012900</idOfSeries>
          <nameOfSeries>Victory Income Stock Fund</nameOfSeries>
          <leiOfSeries>549300Z0UHMDLT5QWV75</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000012901</idOfSeries>
          <nameOfSeries>Victory Tax Exempt Intermediate-Term Fund</nameOfSeries>
          <leiOfSeries>549300XP2M6Q4ED9JY76</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000012902</idOfSeries>
          <nameOfSeries>Victory Core Plus Intermediate Bond Fund</nameOfSeries>
          <leiOfSeries>5493002WB6DHNEK4HM51</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000012903</idOfSeries>
          <nameOfSeries>Victory International Fund</nameOfSeries>
          <leiOfSeries>549300U2K802QJ0KDM43</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000012904</idOfSeries>
          <nameOfSeries>Victory Tax Exempt Long-Term Fund</nameOfSeries>
          <leiOfSeries>549300N6GW3Z51RFKK71</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000012905</idOfSeries>
          <nameOfSeries>Victory Cornerstone Moderate Fund</nameOfSeries>
          <leiOfSeries>5493006AZSKLPR635S35</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000012906</idOfSeries>
          <nameOfSeries>Victory Money Market Fund</nameOfSeries>
          <leiOfSeries>549300R7P96U7JAZST52</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000012907</idOfSeries>
          <nameOfSeries>Victory Nasdaq-100 Index Fund</nameOfSeries>
          <leiOfSeries>549300T6Q4B91544NR06</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000012908</idOfSeries>
          <nameOfSeries>Victory New York Bond Fund</nameOfSeries>
          <leiOfSeries>5493008TGGLSTT7X4R47</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000012910</idOfSeries>
          <nameOfSeries>Victory Precious Metals and Minerals Fund</nameOfSeries>
          <leiOfSeries>54930094RTT4KG3I2H50</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000012911</idOfSeries>
          <nameOfSeries>Victory Science &amp; Technology Fund</nameOfSeries>
          <leiOfSeries>PB3SKW3PAFSC82EVGX20</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000012912</idOfSeries>
          <nameOfSeries>Victory Tax Exempt Short-Term Fund</nameOfSeries>
          <leiOfSeries>549300HBQJXW0J04OC16</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000012913</idOfSeries>
          <nameOfSeries>Victory Short-Term Bond Fund</nameOfSeries>
          <leiOfSeries>549300H1VO6VGGS3TZ32</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000012914</idOfSeries>
          <nameOfSeries>Victory Small Cap Stock Fund</nameOfSeries>
          <leiOfSeries>5493008FP53Q6LZ7P324</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000012915</idOfSeries>
          <nameOfSeries>Victory 500 Index Fund</nameOfSeries>
          <leiOfSeries>5493002LH8V3HI6I7P64</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000012916</idOfSeries>
          <nameOfSeries>Victory California Bond Fund</nameOfSeries>
          <leiOfSeries>549300TYXVR824ZBF173</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000012917</idOfSeries>
          <nameOfSeries>Victory Tax Exempt Money Market Fund</nameOfSeries>
          <leiOfSeries>549300426M7YDEXNCW66</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000012919</idOfSeries>
          <nameOfSeries>Victory Treasury Money Market Trust</nameOfSeries>
          <leiOfSeries>5493005W3JFWGTXFOA85</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000012920</idOfSeries>
          <nameOfSeries>Victory Value Fund</nameOfSeries>
          <leiOfSeries>549300F9D3M2P19RXS81</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000012921</idOfSeries>
          <nameOfSeries>Victory Virginia Bond Fund</nameOfSeries>
          <leiOfSeries>549300MWAIAYNHEQ6O29</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000012923</idOfSeries>
          <nameOfSeries>Victory Sustainable World Fund</nameOfSeries>
          <leiOfSeries>549300H8YU0U70O8CG61</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000012925</idOfSeries>
          <nameOfSeries>Victory Capital Growth Fund</nameOfSeries>
          <leiOfSeries>549300TY2LQD284D9T35</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000012926</idOfSeries>
          <nameOfSeries>Victory Cornerstone Moderately Aggressive Fund</nameOfSeries>
          <leiOfSeries>549300RN6ZYPTMPMQJ29</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000012927</idOfSeries>
          <nameOfSeries>Victory Emerging Markets Fund</nameOfSeries>
          <leiOfSeries>549300QVU13OKCKSH254</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000012929</idOfSeries>
          <nameOfSeries>Victory Government Securities Fund</nameOfSeries>
          <leiOfSeries>549300M4WZNU0BPCZE64</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000012941</idOfSeries>
          <nameOfSeries>Victory Extended Market Index Fund</nameOfSeries>
          <leiOfSeries>549300GQKW5HQZTCH131</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000022882</idOfSeries>
          <nameOfSeries>Victory Global Managed Volatility Fund</nameOfSeries>
          <leiOfSeries>5493006MTEN1HWRZHP13</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000022883</idOfSeries>
          <nameOfSeries>Victory Target Retirement Income Fund</nameOfSeries>
          <leiOfSeries>549300TI4WOBPIG65291</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000022885</idOfSeries>
          <nameOfSeries>Victory Target Retirement 2030 Fund</nameOfSeries>
          <leiOfSeries>549300TCAV7S8MSBVB53</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000022886</idOfSeries>
          <nameOfSeries>Victory Target Retirement 2040 Fund</nameOfSeries>
          <leiOfSeries>5493004WQDF2J9IG0X82</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000022887</idOfSeries>
          <nameOfSeries>Victory Target Retirement 2050 Fund</nameOfSeries>
          <leiOfSeries>5493004XIFVCVGSBGK17</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000030169</idOfSeries>
          <nameOfSeries>Victory Ultra Short-Term Bond Fund</nameOfSeries>
          <leiOfSeries>549300P1NJ5UMBQKCB83</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000037224</idOfSeries>
          <nameOfSeries>Victory Cornerstone Conservative Fund</nameOfSeries>
          <leiOfSeries>549300MH9XW7M0ZWBN87</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000037225</idOfSeries>
          <nameOfSeries>Victory Cornerstone Moderately Conservative Fund</nameOfSeries>
          <leiOfSeries>549300PX92BOQGUXP851</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000037226</idOfSeries>
          <nameOfSeries>Victory Cornerstone Aggressive Fund</nameOfSeries>
          <leiOfSeries>549300FK2YSKT5LX2R29</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000037227</idOfSeries>
          <nameOfSeries>Victory Cornerstone Equity Fund</nameOfSeries>
          <leiOfSeries>549300XGC2RDFOHG8M84</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000041439</idOfSeries>
          <nameOfSeries>Victory Target Retirement 2060 Fund</nameOfSeries>
          <leiOfSeries>549300SIHTC00VCH1R53</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000050251</idOfSeries>
          <nameOfSeries>Victory Target Managed Allocation Fund</nameOfSeries>
          <leiOfSeries>5493001Y7T79H1D82Q64</leiOfSeries>
        </seriesReports>
        <seriesReports>
          <idOfSeries>S000050252</idOfSeries>
          <nameOfSeries>Victory Global Equity Income Fund</nameOfSeries>
          <leiOfSeries>549300G0456X1I3EOT54</leiOfSeries>
        </seriesReports>
      </seriesDetails>
    </seriesPage>
    <signaturePage>
      <reportingPerson>Victory Portfolios III</reportingPerson>
      <txSignature>Thomas Dusenberry</txSignature>
      <txPrintedSignature>Thomas Dusenberry</txPrintedSignature>
      <txTitle>President</txTitle>
      <txAsOfDate>08/17/2026</txAsOfDate>
    </signaturePage>
  </formData>
</edgarSubmission>
