# EDGAR Filing Document

**Accession Number:** 0001547580
**File Stem:** 0001004726-26-001289
**Filing Date:** 2026-2
**Character Count:** 38887
**Document Hash:** f4fa84bbcf65b0dd901a50002c5a729e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001004726-26-001289.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0001004726-26-001289

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260227

**DATE AS OF CHANGE**: 20260227

**PERIOD START**: 20260630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Victory Portfolios II
- **CENTRAL INDEX KEY:** 0001547580

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22696
- **FILM NUMBER:** 26694458

**BUSINESS ADDRESS:**
- **STREET 1:** 4900 TIEDEMAN ROAD, 4TH FLOOR
- **CITY:** BROOKLYN
- **STATE:** OH
- **ZIP:** 44144
- **BUSINESS PHONE:** 216-898-2411

**MAIL ADDRESS:**
- **STREET 1:** 4900 TIEDEMAN ROAD, 4TH FLOOR
- **CITY:** BROOKLYN
- **STATE:** OH
- **ZIP:** 44144

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Compass EMP Funds Trust
- **DATE OF NAME CHANGE:** 20120417

## Series and Classes Contracts Data

### VictoryShares US Small Cap High Div Volatility Wtd ETF (Series ID: S000049908)

| Class ID   | Class Name                                             | Ticker Symbol   |
|:---|:---|:---|
| C000157589 | VictoryShares US Small Cap High Div Volatility Wtd ETF | CSB             |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Victory Portfolios II

- **b. Investment Company Act file number:** 811-22696

- **c. CIK number of Registrant:** 0001547580

- **d. LEI of Registrant:** 5493002SUQLUY3T5P040

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 15935 La Cantera Parkway Building Two

  - **City:** San Antonio

  - **State:** TX

  - **Foreign country:** US

  - **Zip / Postal Code:** 78256

  - **Telephone number:** 800-539-3863

**Item A.2. Information about the Series.**

- **a. Name of Series:** VictoryShares US Small Cap High Div Volatility Wtd ETF

- **b. EDGAR series identifier (if any):** S000049908

- **c. LEI of Series:** 549300GMUN0Q3JBDN646

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-06-30

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $255242504.48

**Total Liabilities:** $11936675.33

**Net Assets:** $243305829.15

**Cash Not Reported:** $1211197.61

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000157589 | -3.21%               | 3.83%                | -0.12%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $550450.66               | $-9298637.16                               |
| Month 2  | $1329652.24              | $7103735.52                                |
| Month 3  | $311485.13               | $-1667629.98                               |

### Schedule of Portfolio Investments

| Name                                           | Title                                     | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CIVITAS RESOURCES, INC.                        | CIVITAS RESOURCES INC                     | CUSIP: 17888H103<br>LEI: IIVIHPH28S64K95M2381 | Long             | EC               | CORP              | US        |     33306 | NS      | $902259.54    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| H2O AMERICA                                    | H20 AMERICA                               | CUSIP: 784305104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     61628 | NS      | $3019155.72   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| STRATEGIC EDUCATION, INC.                      | STRATEGIC EDUCATION INC                   | CUSIP: 86272C103<br>LEI: 2549002UYIM8Q5EC8H36 | Long             | EC               | CORP              | US        |     31250 | NS      | $2506250.00   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| GREIF, INC.                                    | GREIF INC CL A                            | CUSIP: 397624107<br>LEI: 54930070FVGKR0Z1FI24 | Long             | EC               | CORP              | US        |     37276 | NS      | $2523585.20   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| VALLEY NATIONAL BANCORP                        | VALLEY NATIONAL BANCORP                   | CUSIP: 919794107<br>LEI: 549300ET52S1UBIB9762 | Long             | EC               | CORP              | US        |    235507 | NS      | $2750721.76   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| THE SCOTTS MIRACLE-GRO COMPANY                 | SCOTTS COMPANY CLASS A                    | CUSIP: 810186106<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | EC               | CORP              | US        |     32462 | NS      | $1894157.70   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST FINANCIAL BANCORP.                       | FIRST FINANCIAL BANCORP                   | CUSIP: 320209109<br>LEI: 549300D3F5B3EZMY7P77 | Long             | EC               | CORP              | US        |    109807 | NS      | $2747371.14   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| AVNET, INC.                                    | AVNET INC                                 | CUSIP: 053807103<br>LEI: XJI53DCPL7QABOWK4Z75 | Long             | EC               | CORP              | US        |     46962 | NS      | $2257932.96   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST INTERSTATE BANCSYSTEM, INC.              | FIRST INTERSTATE BANCSYS A                | CUSIP: 32055Y201<br>LEI: 549300WRWYTYX0RCNJ43 | Long             | EC               | CORP              | US        |     73146 | NS      | $2530851.60   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| RUSSELL 2000 MINI INDEX FUTURE MAR26           | RUSSELL 2000 MINI INDEX FUTURE MAR26      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        10 | NC      | $-26764.50    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| HSBC US GOVERNMENT MONEY MARKET FUND           | HSBC US GOVT MMKT-I                       | CUSIP: 40428X107<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   2958424 | NS      | $2958424.38   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERPARFUMS INC                               | INTERPARFUMS INC                          | CUSIP: 458334109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21800 | NS      | $1849294.00   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| LEAR CORPORATION                               | LEAR CORP                                 | CUSIP: 521865204<br>LEI: 549300UPNBTXA1SYTQ33 | Long             | EC               | CORP              | US        |     20845 | NS      | $2388837.00   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| LAZARD, INC.                                   | LAZARD INC                                | CUSIP: 52110M109<br>LEI: 254900RIBCDJSUFG1A11 | Long             | EC               | CORP              | US        |     30516 | NS      | $1481856.96   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| CHORD ENERGY CORPORATION                       | CHORD ENERGY CORP                         | CUSIP: 674215207<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | EC               | CORP              | US        |     17390 | NS      | $1612053.00   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTHWEST GAS HOLDINGS, INC.                   | SOUTHWEST GAS HOLDINGS INC                | CUSIP: 844895102<br>LEI: 254900LKF9EV0CUKNE09 | Long             | EC               | CORP              | US        |     42201 | NS      | $3376924.02   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| MSILF Government Portfolio                     | MSILF GOVERNMENT-INST                     | CUSIP: 61747C707<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   2958424 | NS      | $2958424.36   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| ASSOCIATED BANC-CORP                           | ASSOCIATED BANC CORP                      | CUSIP: 045487105<br>LEI: 549300N3CIN473IW5094 | Long             | EC               | CORP              | US        |     93393 | NS      | $2405803.68   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| ATKORE INC                                     | ATKORE INC                                | CUSIP: 047649108<br>LEI: 52990002TI38AM4RPV48 | Long             | EC               | CORP              | US        |     25165 | NS      | $1591686.25   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Kontoor Brands, Inc.                           | KONTOOR BRANDS INC                        | CUSIP: 50050N103<br>LEI: 549300M0CPXV65RFF271 | Long             | EC               | CORP              | US        |     22329 | NS      | $1364078.61   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| COLUMBIA BANKING SYSTEM, INC.                  | COLUMBIA BANKING SYSTEM INC               | CUSIP: 197236102<br>LEI: 254900CTRJTQZ3BJ2V17 | Long             | EC               | CORP              | US        |     84375 | NS      | $2358281.25   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| MSC INDUSTRIAL DIRECT CO., INC.                | MSC INDUSTRIAL DIRECT CO INC              | CUSIP: 553530106<br>LEI: 0XVKH0LN6YGOWO2EGO17 | Long             | EC               | CORP              | US        |     32446 | NS      | $2728708.60   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| HARLEY-DAVIDSON, INC.                          | HARLEY DAVIDSON INC                       | CUSIP: 412822108<br>LEI: ZDNAWZWXIKMWI51R2A08 | Long             | EC               | CORP              | US        |     61954 | NS      | $1269437.46   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| FMC CORPORATION                                | FMC CORP                                  | CUSIP: 302491303<br>LEI: CKDHZ2X64EEBQCSP7013 | Long             | EC               | CORP              | US        |     37622 | NS      | $521817.14    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| MOELIS & COMPANY                               | MOELIS CO CLASS A                         | CUSIP: 60786M105<br>LEI: 549300891QNU7VTQUR83 | Long             | EC               | CORP              | US        |     28938 | NS      | $1989198.12   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| NORTHERN OIL AND GAS, INC.                     | NORTHERN OIL AND GAS INC                  | CUSIP: 665531307<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | EC               | CORP              | US        |     58064 | NS      | $1246634.08   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF HAWAII CORPORATION                     | BANK OF HAWAII CORP                       | CUSIP: 062540109<br>LEI: 5493006Q8BQ8AD8M2U33 | Long             | EC               | CORP              | US        |     45176 | NS      | $3088683.12   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| VIPER ENERGY, INC.                             | VIPER ENERGY INC                          | CUSIP: 64361Q101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     55668 | NS      | $2150454.84   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| MDU RESOURCES GROUP, INC.                      | MDU RESOURCES GROUP INC                   | CUSIP: 552690109<br>LEI: 549300MA0UV6AI6SNV27 | Long             | EC               | CORP              | US        |    208824 | NS      | $4076244.48   | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| COLUMBIA SPORTSWEAR COMPANY                    | COLUMBIA SPORTSWEAR COMPANY               | CUSIP: 198516106<br>LEI: 549300OTMCIEUXAH5Z60 | Long             | EC               | CORP              | US        |     35786 | NS      | $1971450.74   | 0.81%             |  |  |  | No            |                  1 | On Loan: —       |
| Energizer Holdings, Inc.                       | ENERGIZER HOLDINGS INC                    | CUSIP: 29272W109<br>LEI: 5493000D6NN0V57UME20 | Long             | EC               | CORP              | US        |     66133 | NS      | $1315385.37   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| FULTON FINANCIAL CORPORATION                   | FULTON FINANCIAL CORP                     | CUSIP: 360271100<br>LEI: 5493005QLZ6O1BNC0C11 | Long             | EC               | CORP              | US        |    135565 | NS      | $2620471.45   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| ORGANON & CO.                                  | ORGANON CO                                | CUSIP: 68622V106<br>LEI: 549300AMCKY57OK2CO56 | Long             | EC               | CORP              | US        |    149944 | NS      | $1075098.48   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS FINANCIAL SQUARE GOVERNMENT FUND | GLDMN SCHS FIN SQ GV-FST                  | CUSIP: 38141W273<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   2958424 | NS      | $2958424.38   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| THE WESTERN UNION COMPANY                      | WESTERN UNION CO                          | CUSIP: 959802109<br>LEI: 28ID94QU1140NC23S047 | Long             | EC               | CORP              | US        |    307934 | NS      | $2866865.54   | 1.18%             |  |  |  | No            |                  1 | On Loan: —       |
| UNITED BANKSHARES, INC.                        | UNITED BANKSHARES INC                     | CUSIP: 909907107<br>LEI: 5299005O3BAMJ9Z92V62 | Long             | EC               | CORP              | US        |     82399 | NS      | $3164121.60   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| ARTISAN PARTNERS ASSET MANAGEMENT INC.         | ARTISAN PARTNERS ASSET MA A               | CUSIP: 04316A108<br>LEI: 549300T1FUI6JF63XU51 | Long             | EC               | CORP              | US        |     54666 | NS      | $2227092.84   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| AVISTA CORPORATION                             | AVISTA CORP                               | CUSIP: 05379B107<br>LEI: Q0IK63NITJD6RJ47SW96 | Long             | EC               | CORP              | US        |    113531 | NS      | $4375484.74   | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| VAIL RESORTS, INC.                             | VAIL RESORTS INC                          | CUSIP: 91879Q109<br>LEI: 529900PSZHRNU9HKH870 | Long             | EC               | CORP              | US        |     14736 | NS      | $1956940.80   | 0.80%             |  |  |  | No            |                  1 | On Loan: —       |
| Spire Inc.                                     | SPIRE INC                                 | CUSIP: 84857L101<br>LEI: 549300NXSY15DRY2R511 | Long             | EC               | CORP              | US        |     52539 | NS      | $4344975.30   | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| THE BUCKLE, INC.                               | BUCKLE INC THE                            | CUSIP: 118440106<br>LEI: 5299007IU0461T3GDL34 | Long             | EC               | CORP              | US        |     44857 | NS      | $2396260.94   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| MACY'S, INC.                                   | MACY S INC                                | CUSIP: 55616P104<br>LEI: 529900NZQ81TIOW3CW52 | Long             | EC               | CORP              | US        |    126720 | NS      | $2794176.00   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| CALIFORNIA RESOURCES CORPORATION               | CALIFORNIA RESOURCES CORP                 | CUSIP: 13057Q305<br>LEI: 5493003Q8F0T4F4YMR48 | Long             | EC               | CORP              | US        |     38203 | NS      | $1708056.13   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| IDACORP, INC.                                  | IDACORP INC                               | CUSIP: 451107106<br>LEI: N134NUJDWN8UEFA8B673 | Long             | EC               | CORP              | US        |     35803 | NS      | $4531227.68   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| KODIAK GAS SERVICES, INC.                      | KODIAK GAS SERVICES INC                   | CUSIP: 50012A108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     49054 | NS      | $1834619.60   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| JOHN WILEY & SONS, INC.                        | WILEY JOHN SONS CLASS A                   | CUSIP: 968223206<br>LEI: 5493003XM719UN7E8P64 | Long             | EC               | CORP              | US        |     59222 | NS      | $1813969.86   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| IRIDIUM COMMUNICATIONS INC.                    | IRIDIUM COMMUNICATIONS INC                | CUSIP: 46269C102<br>LEI: 549300U620NVQ4J1CT96 | Long             | EC               | CORP              | US        |     70099 | NS      | $1218320.62   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| ONE GAS, INC.                                  | ONE GAS INC                               | CUSIP: 68235P108<br>LEI: 549300HXDWI0LATTX840 | Long             | EC               | CORP              | US        |     52320 | NS      | $4041720.00   | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| NATIONAL FUEL GAS COMPANY                      | NATIONAL FUEL GAS CO                      | CUSIP: 636180101<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | EC               | CORP              | US        |     46821 | NS      | $3748489.26   | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| TRINITY INDUSTRIES, INC.                       | TRINITY INDUSTRIES INC                    | CUSIP: 896522109<br>LEI: R1JB4KXN77XFCXOQKV49 | Long             | EC               | CORP              | US        |     82287 | NS      | $2175668.28   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| INSPERITY, INC.                                | INSPERITY INC                             | CUSIP: 45778Q107<br>LEI: 5299000Q0KW7HY5DB751 | Long             | EC               | CORP              | US        |     28890 | NS      | $1118620.80   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| CONCENTRIX CORPORATION                         | CONCENTRIX CORP                           | CUSIP: 20602D101<br>LEI: 5493000EAJN1KMPVA737 | Long             | EC               | CORP              | US        |     23180 | NS      | $963824.40    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| PORTLAND GENERAL ELECTRIC COMPANY              | PORTLAND GENERAL ELECTRIC CO              | CUSIP: 736508847<br>LEI: GJOUP9M7C39GLSK9R870 | Long             | EC               | CORP              | US        |     94283 | NS      | $4524641.17   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| SEALED AIR CORPORATION                         | SEALED AIR CORP                           | CUSIP: 81211K100<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | EC               | CORP              | US        |     72094 | NS      | $2986854.42   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| STEVEN MADDEN, LTD.                            | STEVEN MADDEN LTD                         | CUSIP: 556269108<br>LEI: 549300Z9GZ7GYJWSGF43 | Long             | EC               | CORP              | US        |     50650 | NS      | $2109066.00   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| SIMMONS FIRST NATIONAL CORPORATION             | SIMMONS FIRST NATL CORP CL A              | CUSIP: 828730200<br>LEI: 549300IVR5AJKUVOGN05 | Long             | EC               | CORP              | US        |    146208 | NS      | $2756020.80   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| ROBERT HALF INC.                               | ROBERT HALF INC                           | CUSIP: 770323103<br>LEI: 529900VPCUY9H3HLIC08 | Long             | EC               | CORP              | US        |     61541 | NS      | $1671453.56   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| BLACK HILLS CORPORATION                        | BLACK HILLS CORP                          | CUSIP: 092113109<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | EC               | CORP              | US        |     71970 | NS      | $4996157.40   | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST HAWAIIAN, INC.                           | FIRST HAWAIIAN INC                        | CUSIP: 32051X108<br>LEI: 5493002DJSH46F5OLV06 | Long             | EC               | CORP              | US        |    116545 | NS      | $2948588.50   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| SYLVAMO CORPORATION                            | SYLVAMO CORP                              | CUSIP: 871332102<br>LEI: 5493001AOYU1ZOWOC971 | Long             | EC               | CORP              | US        |     41196 | NS      | $1983587.40   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| KINETIK HOLDINGS INC.                          | KINETIK HOLDINGS INC                      | CUSIP: 02215L209<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     50162 | NS      | $1808340.10   | 0.74%             |  |  |  | No            |                  1 | On Loan: —       |
| LEVI STRAUSS & CO.                             | LEVI STRAUSS CO                           | CUSIP: 52736R102<br>LEI: MB0UERO0RDFKU8258G77 | Long             | EC               | CORP              | US        |     83111 | NS      | $1723722.14   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| HA SUSTAINABLE INFRASTRUCTURE CAPITAL, INC.    | HA SUSTAINABLE INFRASTRUCTURE CAPITAL INC | CUSIP: 41068X100<br>LEI: 254900ZZRL7MWL1X8E92 | Long             | EC               | CORP              | US        |     81679 | NS      | $2567170.97   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| LIBERTY ENERGY INC.                            | LIBERTY ENERGY INC                        | CUSIP: 53115L104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    118808 | NS      | $2193195.68   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| PROVIDENT FINANCIAL SERVICES, INC.             | PROVIDENT FINANCIAL SVCS                  | CUSIP: 74386T105<br>LEI: 529900JOSO3SXEDVE477 | Long             | EC               | CORP              | US        |    130912 | NS      | $2585512.00   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| SM ENERGY COMPANY                              | SM ENERGY CO                              | CUSIP: 78454L100<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | EC               | CORP              | US        |     49334 | NS      | $922545.80    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| LINCOLN NATIONAL CORPORATION                   | LINCOLN NATIONAL CORP                     | CUSIP: 534187109<br>LEI: EFQMQROEDSNBRIP7LE47 | Long             | EC               | CORP              | US        |     45621 | NS      | $2031503.13   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| MURPHY OIL CORPORATION                         | MURPHY OIL CORP                           | CUSIP: 626717102<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | EC               | CORP              | US        |     63622 | NS      | $1988187.50   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| CAL-MAINE FOODS, INC.                          | CAL MAINE FOODS INC                       | CUSIP: 128030202<br>LEI: 549300NHE5WMIEIEMF53 | Long             | EC               | CORP              | US        |     16147 | NS      | $1284816.79   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| ONEMAIN HOLDINGS, INC.                         | ONEMAIN HOLDINGS INC                      | CUSIP: 68268W103<br>LEI: 549300E3VEW8SMS5XW09 | Long             | EC               | CORP              | US        |     35241 | NS      | $2380529.55   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| THE WENDY'S COMPANY                            | WENDY S CO THE                            | CUSIP: 95058W100<br>LEI: 529900M0JIUCMWVKHG76 | Long             | EC               | CORP              | US        |    242199 | NS      | $2017517.67   | 0.83%             |  |  |  | No            |                  1 | On Loan: —       |
| ATLANTIC UNION BANKSHARES CORPORATION          | ATLANTIC UNION BANKSHARES                 | CUSIP: 04911A107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     64698 | NS      | $2283839.40   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| CVB FINANCIAL CORP.                            | CVB FINANCIAL CORP                        | CUSIP: 126600105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    142578 | NS      | $2651950.80   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| FLOWERS FOODS, INC.                            | FLOWERS FOODS INC                         | CUSIP: 343498101<br>LEI: 7YNCQQNDK8FBM9BBTK25 | Long             | EC               | CORP              | US        |    222505 | NS      | $2420854.40   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| KORN FERRY                                     | KORN FERRY                                | CUSIP: 500643200<br>LEI: 549300FOD20OM0GT5G40 | Long             | EC               | CORP              | US        |     41081 | NS      | $2712167.62   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| HNI CORPORATION                                | HNI CORP                                  | CUSIP: 404251100<br>LEI: 549300SKRADLC4O5HV93 | Long             | EC               | CORP              | US        |     59469 | NS      | $2500076.76   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN EAGLE OUTFITTERS, INC.                | AMERICAN EAGLE OUTFITTERS                 | CUSIP: 02553E106<br>LEI: 5299001Z9HXK01DHW793 | Long             | EC               | CORP              | US        |    101418 | NS      | $2674392.66   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN STATES WATER COMPANY                  | AMERICAN STATES WATER CO                  | CUSIP: 029899101<br>LEI: 529900L26LIS2V8PWM23 | Long             | EC               | CORP              | US        |     51450 | NS      | $3729096.00   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| WARNER MUSIC GROUP CORP.                       | WARNER MUSIC GROUP CORP                   | CUSIP: 934550203<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     89472 | NS      | $2744106.24   | 1.13%             |  |  |  | No            |                  1 | On Loan: —       |
| NEW JERSEY RESOURCES CORPORATION               | NEW JERSEY RESOURCES CORP                 | CUSIP: 646025106<br>LEI: 549300QKBSQBIX4DQ583 | Long             | EC               | CORP              | US        |     97166 | NS      | $4481295.92   | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| CLEARWAY ENERGY, INC.                          | CLEARWAY ENERGY INC                       | CUSIP: 18539C204<br>LEI: 549300LHAZ9HA9G3XC48 | Long             | EC               | CORP              | US        |    100388 | NS      | $3338904.88   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| PITNEY BOWES INC.                              | PITNEY BOWES INC                          | CUSIP: 724479100<br>LEI: 549300N2O26NW4ST6W55 | Long             | EC               | CORP              | US        |    150991 | NS      | $1595974.87   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST MERCHANTS CORPORATION                    | FIRST MERCHANTS CORP                      | CUSIP: 320817109<br>LEI: TZTBT0OTGQ2FEK6XMX94 | Long             | EC               | CORP              | US        |     68211 | NS      | $2556548.28   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| LCI INDUSTRIES                                 | LCI INDUSTRIES                            | CUSIP: 50189K103<br>LEI: 549300E1B98YNJ1WIQ04 | Long             | EC               | CORP              | US        |     21406 | NS      | $2597404.04   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| MAGNOLIA OIL & GAS CORPORATION                 | MAGNOLIA OIL GAS CORP                     | CUSIP: 559663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     85659 | NS      | $1875075.51   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| BRUNSWICK CORPORATION                          | BRUNSWICK CORP                            | CUSIP: 117043109<br>LEI: YM4O38W15AX4YLLQKU27 | Long             | EC               | CORP              | US        |     27901 | NS      | $2071370.24   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXSTAR MEDIA GROUP, INC.                      | NEXSTAR MEDIA GROUP INC                   | CUSIP: 65336K103<br>LEI: 52990083ZRR5UT591988 | Long             | EC               | CORP              | US        |     11694 | NS      | $2374466.70   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| CABOT CORPORATION                              | CABOT CORP                                | CUSIP: 127055101<br>LEI: K05C0SER542GQ6VLRO68 | Long             | EC               | CORP              | US        |     32460 | NS      | $2151448.80   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| WaFd, Inc                                      | WAFD INC                                  | CUSIP: 938824109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     84724 | NS      | $2713709.72   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| WESBANCO, INC.                                 | WESBANCO INC                              | CUSIP: 950810101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     85730 | NS      | $2849665.20   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Otter Tail Corporation                         | OTTER TAIL CORP                           | CUSIP: 689648103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     38155 | NS      | $3083305.55   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| REYNOLDS CONSUMER PRODUCTS INC.                | REYNOLDS CONSUMER PRODUCTS INC            | CUSIP: 76171L106<br>LEI: 894500ZQLNYY77S80A06 | Long             | EC               | CORP              | US        |    149056 | NS      | $3416363.52   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST BUSEY CORPORATION                        | FIRST BUSEY CORP                          | CUSIP: 319383204<br>LEI: 549300X4ZNLYSX7GUY60 | Long             | EC               | CORP              | US        |    114908 | NS      | $2733661.32   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| ARCHROCK INC.                                  | ARCHROCK INC                              | CUSIP: 03957W106<br>LEI: 549300K3RIHMHDVFTL28 | Long             | EC               | CORP              | US        |     78714 | NS      | $2048138.28   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| UGI CORPORATION                                | UGI CORP                                  | CUSIP: 902681105<br>LEI: DX6GCWD4Q1JO9CRE5I40 | Long             | EC               | CORP              | US        |    114635 | NS      | $4290788.05   | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| GCM GROSVENOR INC.                             | GCM GROSVENOR INC                         | CUSIP: 36831E108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    297742 | NS      | $3370439.44   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| NOV INC.                                       | NOV INC                                   | CUSIP: 62955J103<br>LEI: 549300EHF3IW1AR6U008 | Long             | EC               | CORP              | US        |    136366 | NS      | $2131400.58   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| AVIENT CORPORATION                             | AVIENT CORP                               | CUSIP: 05368V106<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | EC               | CORP              | US        |     52641 | NS      | $1644504.84   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| INVESCO GOVERNMENT & AGENCY PORTFOLIO          | INVESCO GVT & AGNCY-INST                  | CUSIP: 825252885<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   2958424 | NS      | $2958424.38   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| MARRIOTT VACATIONS WORLDWIDE CORPORATION       | MARRIOTT VACATIONS WORLDWIDE CORP         | CUSIP: 57164Y107<br>LEI: 549300WA6BT5H4F7IO94 | Long             | EC               | CORP              | US        |     21835 | NS      | $1259661.15   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| CALIFORNIA WATER SERVICE GROUP                 | CALIFORNIA WATER SERVICE GRP              | CUSIP: 130788102<br>LEI: 529900QABDOBU6UVRQ36 | Long             | EC               | CORP              | US        |     77649 | NS      | $3364531.17   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| TRAVEL + LEISURE CO.                           | TRAVEL LEISURE CO                         | CUSIP: 894164102<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | EC               | CORP              | US        |     35144 | NS      | $2478706.32   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| ADT INC.                                       | ADT INC                                   | CUSIP: 00090Q103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    348303 | NS      | $2810805.21   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| J & J SNACK FOODS CORP.                        | J J SNACK FOODS CORP                      | CUSIP: 466032109<br>LEI: 894500IGP1Y2ZQFQMJ83 | Long             | EC               | CORP              | US        |     24070 | NS      | $2175205.90   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-30

**Name of Applicant:** Victory Portfolios II

**Signature:** Carol Trevino

**Name of Signer:** Carol Trevino

**Title:** Treasurer