# EDGAR Filing Document

**Accession Number:** 0001547580
**File Stem:** 0001752724-25-210063
**Filing Date:** 2025-8
**Character Count:** 73174
**Document Hash:** f9e8b754fae9b8461d43036c5a6a4b08
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-210063.hdr.sgml**: 20250828

**ACCESSION NUMBER**: 0001752724-25-210063

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250828

**DATE AS OF CHANGE**: 20250828

**PERIOD START**: 20250630

**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:** 251268236

**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 Small Cap Free Cash Flow ETF (Series ID: S000080690)

| Class ID   | Class Name                                 | Ticker Symbol   |
|:---|:---|:---|
| C000243212 | VictoryShares Small Cap Free Cash Flow ETF | SFLO            |

## 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:** 4900 Tiedeman Road 4th Floor

  - **City:** Brooklyn

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 44144

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

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

- **a. Name of Series:** VictoryShares Small Cap Free Cash Flow ETF

- **b. EDGAR series identifier (if any):** S000080690

- **c. LEI of Series:** 254900PHKM6UI5AF4K73

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

- **a. Date of fiscal year-end:** 2025-06-30

- **b. Date as of which information is reported:** 2025-06-30

**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:** $289614885.41

**Total Liabilities:** $7700401.18

**Net Assets:** $281914484.23

**Cash Not Reported:** $477840.30

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000243212 | -6.27%               | 8.77%                | 5.33%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $853368.92               | $-13822228.77                              |
| Month 2  | $1327033.43              | $18459402.46                               |
| Month 3  | $2093590.77              | $11275889.94                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| RILEY EXPLORATION PERMIAN, INC.                  | RILEY EXPLORATION PERMIAN INC             | CUSIP: 76665T102<br>LEI: 5493008CUBI02XP43Q95 | Long             | EC               | CORP              | US        |     14483 | NS      | $379889.09    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| ALAMO GROUP INC.                                 | ALAMO GROUP INC                           | CUSIP: 011311107<br>LEI: 54930080C93RVZRSDV26 | Long             | EC               | CORP              | US        |      6517 | NS      | $1423182.46   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| INTEGRAL AD SCIENCE HOLDING CORP.                | INTEGRAL AD SCIENCE HOLDING CORP          | CUSIP: 45828L108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     93584 | NS      | $777683.04    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| LIVERAMP HOLDINGS, INC.                          | LIVERAMP HOLDINGS INC                     | CUSIP: 53815P108<br>LEI: 254900GXS75LG1X7RF88 | Long             | EC               | CORP              | US        |     44207 | NS      | $1460599.28   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| MIMEDX GROUP, INC.                               | MIMEDX GROUP INC                          | CUSIP: 602496101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     44428 | NS      | $271455.08    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| DROPBOX, INC.                                    | DROPBOX INC                               | CUSIP: 26210C104<br>LEI: 549300JCDF7UAR6TJR51 | Long             | EC               | CORP              | US        |     92033 | NS      | $2632143.80   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Tactile Systems Technology Inc                   | TACTILE SYSTEMS TECHNOLOGY INC            | CUSIP: 87357P100<br>LEI: 54930069VDTITHOTKJ98 | Long             | EC               | CORP              | US        |     35838 | NS      | $363397.32    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| DOLBY LABORATORIES, INC.                         | DOLBY LABORATORIES INC                    | CUSIP: 25659T107<br>LEI: 549300X04FB2QPCJ5J24 | Long             | EC               | CORP              | US        |     20508 | NS      | $1522924.08   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| NewMarket Corporation                            | NEWMARKET CORP                            | CUSIP: 651587107<br>LEI: 54930082CG88ERDREQ47 | Long             | EC               | CORP              | US        |      2978 | NS      | $2057381.08   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| CACTUS, INC.                                     | CACTUS INC                                | CUSIP: 127203107<br>LEI: 549300J3T8C9F8QFKV08 | Long             | EC               | CORP              | US        |     38782 | NS      | $1695549.04   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| ETSY, INC.                                       | ETSY INC                                  | CUSIP: 29786A106<br>LEI: 54930089Q7XT501AEA40 | Long             | EC               | CORP              | US        |     37401 | NS      | $1876034.16   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| SPOK HOLDINGS, INC.                              | SPOK HOLDINGS INC                         | CUSIP: 84863T106<br>LEI: 549300HXXANIVN2ICC89 | Long             | EC               | CORP              | US        |      6604 | NS      | $116758.72    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| HARMONY BIOSCIENCES HOLDINGS, INC.               | HARMONY BIOSCIENCES HOLDINGS INC          | CUSIP: 413197104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     78770 | NS      | $2489132.00   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| OSCAR HEALTH, INC.                               | OSCAR HEALTH INC                          | CUSIP: 687793109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    215670 | NS      | $4623964.80   | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| HELIX ENERGY SOLUTIONS GROUP, INC.               | HELIX ENERGY SOLUTIONS GROUP INC          | CUSIP: 42330P107<br>LEI: 416AP2JOUTCWEGSOZW41 | Long             | EC               | CORP              | US        |    268515 | NS      | $1675533.60   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBMATIC, INC.                                   | PUBMATIC INC                              | CUSIP: 74467Q103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     42014 | NS      | $522654.16    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| WORLD KINECT CORPORATION                         | WORLD KINECT CORP                         | CUSIP: 981475106<br>LEI: D3W7PCXCBRQLL17DZ313 | Long             | EC               | CORP              | US        |     90154 | NS      | $2555865.90   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| THE GAP, INC.                                    | GAP INC                                   | CUSIP: 364760108<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | EC               | CORP              | US        |    107856 | NS      | $2352339.36   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| LIQUIDITY SERVICES, INC.                         | LIQUIDITY SERVICES INC                    | CUSIP: 53635B107<br>LEI: 5299002AZ4ULSAXN0G81 | Long             | EC               | CORP              | US        |     44329 | NS      | $1045721.11   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| ACADIA PHARMACEUTICALS INC.                      | ACADIA PHARMACEUTICALS INC                | CUSIP: 004225108<br>LEI: 529900O3044NO0PEA039 | Long             | EC               | CORP              | US        |     65792 | NS      | $1419133.44   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| ARRAY TECHNOLOGIES, INC.                         | ARRAY TECHNOLOGIES INC                    | CUSIP: 04271T100<br>LEI: 549300JM5FECYJQ85V37 | Long             | EC               | CORP              | US        |    143096 | NS      | $844266.40    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| MATTEL, INC.                                     | MATTEL INC                                | CUSIP: 577081102<br>LEI: 549300VELLG24KHTJ564 | Long             | EC               | CORP              | US        |     88683 | NS      | $1748828.76   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| MSILF Government Portfolio                       | MSILF GOVERNMENT-INST                     | CUSIP: 61747C707<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   1883309 | NS      | $1883309.23   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| TOLL BROTHERS, INC.                              | TOLL BROTHERS INC                         | CUSIP: 889478103<br>LEI: 529900JB6IS9MSZGVR44 | Long             | EC               | CORP              | US        |     29410 | NS      | $3356563.30   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Mediaalpha Inc                                   | MEDIAALPHA INC                            | CUSIP: 58450V104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     48564 | NS      | $531775.80    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Collegium Pharmaceutical, Inc.                   | COLLEGIUM PHARMACEUTICAL INC              | CUSIP: 19459J104<br>LEI: 54930049FXZMTLW8D496 | Long             | EC               | CORP              | US        |     78790 | NS      | $2329820.30   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| COLUMBUS MCKINNON CORPORATION                    | COLUMBUS MCKINNON CORPORATION             | CUSIP: 199333105<br>LEI: 549300W3HQB0HO1F3G69 | Long             | EC               | CORP              | US        |     32453 | NS      | $495557.31    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Expensify Inc                                    | EXPENSIFY INC                             | CUSIP: 30219Q106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     68428 | NS      | $177228.52    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| THE HACKETT GROUP, INC.                          | HACKETT GROUP INC THE                     | CUSIP: 404609109<br>LEI: 5K016KLIRB6156644289 | Long             | EC               | CORP              | US        |     10668 | NS      | $271180.56    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| RING ENERGY INC.                                 | RING ENERGY INC                           | CUSIP: 76680V108<br>LEI: 549300HMY6TJ265I8S64 | Long             | EC               | CORP              | US        |    179356 | NS      | $142408.66    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| MISTRAS GROUP, INC.                              | MISTRAS GROUP INC                         | CUSIP: 60649T107<br>LEI: 5493000CMNXVLND3FU73 | Long             | EC               | CORP              | US        |     12128 | NS      | $97145.28     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| YELP INC.                                        | YELP INC                                  | CUSIP: 985817105<br>LEI: 5299007OU2DOSXPQBO35 | Long             | EC               | CORP              | US        |     73340 | NS      | $2513361.80   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| PVH CORP.                                        | PVH CORP                                  | CUSIP: 693656100<br>LEI: 123WALMHY1GZXG2YDL90 | Long             | EC               | CORP              | US        |     37292 | NS      | $2558231.20   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| RAPID7, INC.                                     | RAPID7 INC                                | CUSIP: 753422104<br>LEI: 549300GNVG5D60KEYN14 | Long             | EC               | CORP              | US        |     48373 | NS      | $1118867.49   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| WEATHERFORD INTERNATIONAL PUBLIC LIMITED COMPANY | WEATHERFORD INTERNATIONAL PLC             | CUSIP: G48833118<br>LEI: 529900LPBDSCQDJKHQ39 | Long             | EC               | CORP              | IE        |     56059 | NS      | $2820328.29   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| MANNKIND CORPORATION                             | MANNKIND CORP                             | CUSIP: 56400P706<br>LEI: 213800GFBCNY1ZFST722 | Long             | EC               | CORP              | US        |    341710 | NS      | $1277995.40   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| SUPERNUS PHARMACEUTICALS, INC.                   | SUPERNUS PHARMACEUTICALS INC              | CUSIP: 868459108<br>LEI: 549300GRM36VBKISYJ58 | Long             | EC               | CORP              | US        |     41884 | NS      | $1320183.68   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| DAKTRONICS, INC                                  | DAKTRONICS INC                            | CUSIP: 234264109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18017 | NS      | $272417.04    | 0.10%             |  |  |  | No            |                  1 | On Loan: —       |
| MILLER INDUSTRIES, INC.                          | MILLER INDUSTRIES INC TN                  | CUSIP: 600551204<br>LEI: 549300F1O74SPUJ7UU94 | Long             | EC               | CORP              | US        |      6131 | NS      | $272584.26    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| RANGER ENERGY SERVICES, INC.                     | RANGER ENERGY SERVICES INC                | CUSIP: 75282U104<br>LEI: 549300J7RIVGVAN0RE23 | Long             | EC               | CORP              | US        |     18849 | NS      | $225057.06    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| CROCS, INC.                                      | CROCS INC                                 | CUSIP: 227046109<br>LEI: 549300B0J6YCXD63OG72 | Long             | EC               | CORP              | US        |     30061 | NS      | $3044578.08   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| BERRY CORPORATION (BRY)                          | BERRY CORP                                | CUSIP: 08579X101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    136297 | NS      | $377542.69    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Symbotic Inc                                     | SYMBOTIC INC                              | CUSIP: 87151X101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    109284 | NS      | $4245683.40   | 1.51%             |  |  |  | No            |                  1 | On Loan: —       |
| Definitive Healthcare Corp                       | DEFINITIVE HEALTHCARE CORP                | CUSIP: 24477E103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     46441 | NS      | $181119.90    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| HYSTER-YALE, INC.                                | HYSTER YALE INC                           | CUSIP: 449172105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8531 | NS      | $339363.18    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| HALOZYME THERAPEUTICS, INC.                      | HALOZYME THERAPEUTICS INC                 | CUSIP: 40637H109<br>LEI: 529900242I3SV9AGM753 | Long             | EC               | CORP              | US        |     41267 | NS      | $2146709.34   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| VITAL ENERGY, INC.                               | VITAL ENERGY INC                          | CUSIP: 516806205<br>LEI: 549300X0PTWU2QSLSL14 | Long             | EC               | CORP              | US        |     69168 | NS      | $1112913.12   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| BILL HOLDINGS, INC.                              | BILL HOLDINGS INC                         | CUSIP: 090043100<br>LEI: 549300IBF9VZZIGOZW63 | Long             | EC               | CORP              | US        |     38812 | NS      | $1795443.12   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| JAKKS PACIFIC, INC.                              | JAKKS PACIFIC INC                         | CUSIP: 47012E403<br>LEI: 549300UEF3348JRXQ295 | Long             | EC               | CORP              | US        |     15142 | NS      | $314650.76    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Electromed Inc                                   | ELECTROMED INC                            | CUSIP: 285409108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3505 | NS      | $77074.95     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERESCO, INC.                                   | AMERESCO INC                              | CUSIP: 02361E108<br>LEI: 529900NZXZGBCBXYY327 | Long             | EC               | CORP              | US        |     73958 | NS      | $1123422.02   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| UPBOUND GROUP, INC.                              | UPBOUND GROUP INC                         | CUSIP: 76009N100<br>LEI: 529900QUHE15UQNCCJ63 | Long             | EC               | CORP              | US        |     53436 | NS      | $1341243.60   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| PTC THERAPEUTICS, INC.                           | PTC THERAPEUTICS INC                      | CUSIP: 69366J200<br>LEI: 549300UJLWOIWFDGB318 | Long             | EC               | CORP              | US        |     50947 | NS      | $2488251.48   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| MATCH GROUP, INC.                                | MATCH GROUP INC                           | CUSIP: 57667L107<br>LEI: 15OMOPB0A8K0EFUVD031 | Long             | EC               | CORP              | US        |     84289 | NS      | $2603687.21   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| TURTLE BEACH CORPORATION                         | TURTLE BEACH CORP                         | CUSIP: 900450206<br>LEI: 549300SZRV8U8PXSYI20 | Long             | EC               | CORP              | US        |     19269 | NS      | $266490.27    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLISON TRANSMISSION HOLDINGS, INC.              | ALLISON TRANSMISSION HOLDING INC          | CUSIP: 01973R101<br>LEI: 529900RP7DJ882LI9T83 | Long             | EC               | CORP              | US        |     19108 | NS      | $1815068.92   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| APA CORPORATION                                  | APA CORP                                  | CUSIP: 03743Q108<br>LEI: 549300VCIWLRHYVSHC79 | Long             | EC               | CORP              | US        |    140423 | NS      | $2568336.67   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| SITIO ROYALTIES CORP.                            | SITIO ROYALTIES CORP A                    | CUSIP: 82983N108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     99616 | NS      | $1830942.08   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| CAL-MAINE FOODS, INC.                            | CAL MAINE FOODS INC                       | CUSIP: 128030202<br>LEI: 549300NHE5WMIEIEMF53 | Long             | EC               | CORP              | US        |     41245 | NS      | $4109239.35   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| TAYLOR MORRISON HOME CORPORATION                 | TAYLOR MORRISON HOME CORP                 | CUSIP: 87724P106<br>LEI: 5299009UDLLGLKOOJE30 | Long             | EC               | CORP              | US        |     48389 | NS      | $2972052.38   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| DENNY'S CORPORATION                              | DENNY S CORP                              | CUSIP: 24869P104<br>LEI: 54930037V56XOULXM917 | Long             | EC               | CORP              | US        |     74528 | NS      | $305564.80    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| VERINT SYSTEMS INC.                              | VERINT SYSTEMS INC                        | CUSIP: 92343X100<br>LEI: 549300KEQJS5FRVUCO94 | Long             | EC               | CORP              | US        |     69018 | NS      | $1357584.06   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| 8X8, INC.                                        | 8X8 INC                                   | CUSIP: 282914100<br>LEI: 254900XWSOC5U1BRW939 | Long             | EC               | CORP              | US        |     80505 | NS      | $157789.80    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| FUNKO, INC.                                      | FUNKO INC                                 | CUSIP: 361008105<br>LEI: 529900NG9F0KL5P6NK67 | Long             | EC               | CORP              | US        |    120893 | NS      | $575450.68    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| CHAMPIONX CORPORATION                            | CHAMPIONX CORP                            | CUSIP: 15872M104<br>LEI: 549300EP2909K6DYYP38 | Long             | EC               | CORP              | US        |     85417 | NS      | $2121758.28   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| STRATEGIC EDUCATION, INC.                        | STRATEGIC EDUCATION INC                   | CUSIP: 86272C103<br>LEI: 2549002UYIM8Q5EC8H36 | Long             | EC               | CORP              | US        |     13460 | NS      | $1145849.80   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| TIDEWATER INC.                                   | TIDEWATER INC                             | CUSIP: 88642R109<br>LEI: 2549000JA5GRUPLMUH98 | Long             | EC               | CORP              | US        |     55259 | NS      | $2549097.67   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| ZIFF DAVIS, INC.                                 | ZIFF DAVIS INC                            | CUSIP: 48123V102<br>LEI: 5493008OJYGLHD7MXA18 | Long             | EC               | CORP              | US        |     98024 | NS      | $2967186.48   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| TENNANT COMPANY                                  | TENNANT CO                                | CUSIP: 880345103<br>LEI: JYAIRLT8DVP6DP8UT336 | Long             | EC               | CORP              | US        |     19305 | NS      | $1495751.40   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| PREFORMED LINE PRODUCTS COMPANY                  | PREFORMED LINE PRODUCTS CO                | CUSIP: 740444104<br>LEI: 549300EYH53XDJID2098 | Long             | EC               | CORP              | US        |      1104 | NS      | $176430.24    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| PAGERDUTY, INC.                                  | PAGERDUTY INC                             | CUSIP: 69553P100<br>LEI: 549300U1SB749EDAGH21 | Long             | EC               | CORP              | US        |     87628 | NS      | $1338955.84   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| FORUM ENERGY TECHNOLOGIES, INC.                  | FORUM ENERGY TECHNOLOGIES                 | CUSIP: 34984V209<br>LEI: 549300SF93HLCR1REE27 | Long             | EC               | CORP              | US        |     12297 | NS      | $239422.59    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| V2X, INC.                                        | V2X INC                                   | CUSIP: 92242T101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23874 | NS      | $1159082.70   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| RCI HOSPITALITY HOLDINGS, INC.                   | RCI HOSPITALITY HOLDINGS INC              | CUSIP: 74934Q108<br>LEI: 529900COXP1MLE1UKG69 | Long             | EC               | CORP              | US        |      3815 | NS      | $145427.80    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| CLEAR SECURE, INC.                               | CLEAR SECURE INC                          | CUSIP: 18467V109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    123056 | NS      | $3416034.56   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| MATADOR RESOURCES COMPANY                        | MATADOR RESOURCES CO                      | CUSIP: 576485205<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | EC               | CORP              | US        |     48078 | NS      | $2294282.16   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Karat Packaging Inc                              | KARAT PACKAGING INC                       | CUSIP: 48563L101<br>LEI: 549300JYUKCQP3P8D632 | Long             | EC               | CORP              | US        |      3797 | NS      | $106923.52    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| TOPBUILD CORP.                                   | TOPBUILD CORP                             | CUSIP: 89055F103<br>LEI: 5493007YSKHOL4RWII46 | Long             | EC               | CORP              | US        |      6267 | NS      | $2028878.58   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| EverQuote Inc                                    | EVERQUOTE INC                             | CUSIP: 30041R108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     44503 | NS      | $1076082.54   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| HEARTLAND EXPRESS, INC.                          | HEARTLAND EXPRESS INC                     | CUSIP: 422347104<br>LEI: 5299005V45FZIQGLOG39 | Long             | EC               | CORP              | US        |     84803 | NS      | $732697.92    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Proficient Auto Logistics Inc                    | PROFICIENT AUTO LOGISTICS INC             | CUSIP: 74317M104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     25481 | NS      | $184992.06    | 0.07%             |  |  |  | No            |                  1 | On Loan: —       |
| Kontoor Brands, Inc.                             | KONTOOR BRANDS INC                        | CUSIP: 50050N103<br>LEI: 549300M0CPXV65RFF271 | Long             | EC               | CORP              | US        |     26696 | NS      | $1761135.12   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| LEAR CORPORATION                                 | LEAR CORP                                 | CUSIP: 521865204<br>LEI: 549300UPNBTXA1SYTQ33 | Long             | EC               | CORP              | US        |     18597 | NS      | $1766343.06   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| CHORD ENERGY CORPORATION                         | CHORD ENERGY CORP                         | CUSIP: 674215207<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | EC               | CORP              | US        |     39429 | NS      | $3818698.65   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERNATIONAL SEAWAYS, INC.                      | INTERNATIONAL SEAWAYS INC                 | CUSIP: Y41053102<br>LEI: 549300YUFDGFRNGBWF46 | Long             | EC               | CORP              | MH        |     77883 | NS      | $2841171.84   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CRESCENT ENERGY COMPANY                          | CRESCENT ENERGY INC                       | CUSIP: 44952J104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    258732 | NS      | $2225095.20   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| European Wax Center Inc                          | EUROPEAN WAX CENTER INC                   | CUSIP: 29882P106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     30676 | NS      | $172705.88    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| KORN FERRY                                       | KORN FERRY                                | CUSIP: 500643200<br>LEI: 549300FOD20OM0GT5G40 | Long             | EC               | CORP              | US        |     21186 | NS      | $1553569.38   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| PC CONNECTION, INC.                              | PC CONNECTION INC                         | CUSIP: 69318J100<br>LEI: 5299005WPRNIXDV2KM73 | Long             | EC               | CORP              | US        |     12119 | NS      | $797187.82    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| National Energy Services Reunited Corp.          | NATIONAL ENERGY SERVICES REUNITED CORP    | CUSIP: G6375R107<br>LEI: N/A                  | Long             | EC               | CORP              | VG        |     65001 | NS      | $391306.02    | 0.14%             |  |  |  | No            |                  1 | On Loan: —       |
| BK TECHNOLOGIES CORPORATION                      | BK TECHNOLOGIES CORP                      | CUSIP: 05587G203<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1861 | NS      | $87708.93     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| LANTHEUS HOLDINGS, INC.                          | LANTHEUS HOLDINGS INC                     | CUSIP: 516544103<br>LEI: 5299005HUB5IOJGO7S39 | Long             | EC               | CORP              | US        |     20453 | NS      | $1674282.58   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Yext Inc                                         | YEXT INC                                  | CUSIP: 98585N106<br>LEI: 5299008ZQSBBVH7K0589 | Long             | EC               | CORP              | US        |     48405 | NS      | $411442.50    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| EPLUS INC.                                       | EPLUS INC                                 | CUSIP: 294268107<br>LEI: 529900FFY8AAFJ21NE91 | Long             | EC               | CORP              | US        |     19830 | NS      | $1429743.00   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| ONTO INNOVATION INC.                             | ONTO INNOVATION INC                       | CUSIP: 683344105<br>LEI: 254900RXZVN73CHOO062 | Long             | EC               | CORP              | US        |     13130 | NS      | $1325210.90   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| INNOVEX INTERNATIONAL, INC.                      | INNOVEX INTERNATIONAL INC                 | CUSIP: 457651107<br>LEI: 5299007REICYIJNMW197 | Long             | EC               | CORP              | US        |     52111 | NS      | $813973.82    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| GIBRALTAR INDUSTRIES, INC.                       | GIBRALTAR INDUSTRIES INC                  | CUSIP: 374689107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20903 | NS      | $1233277.00   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| GETTY IMAGES HOLDINGS, INC.                      | GETTY IMAGES HOLDINGS INC                 | CUSIP: 374275105<br>LEI: 984500DDFF103E90DC29 | Long             | EC               | CORP              | US        |    163687 | NS      | $271720.42    | 0.10%             |  |  |  | No            |                  1 | On Loan: —       |
| JANUS INTERNATIONAL GROUP, INC.                  | JANUS INTERNATIONAL GROUP INC             | CUSIP: 47103N106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    108901 | NS      | $886454.14    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| IMMERSION CORPORATION                            | IMMERSION CORPORATION                     | CUSIP: 452521107<br>LEI: 529900AKNC1UAMQ2YB35 | Long             | EC               | CORP              | US        |     43165 | NS      | $340140.20    | 0.12%             |  |  |  | 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        |   1883309 | NS      | $1883309.24   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| NORTHERN OIL AND GAS, INC.                       | NORTHERN OIL AND GAS INC                  | CUSIP: 665531307<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | EC               | CORP              | US        |     52552 | NS      | $1489849.20   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| ZOOMINFO TECHNOLOGIES INC.                       | ZOOMINFO TECHNOLOGIES INC A               | CUSIP: 98980F104<br>LEI: 2549008GSAHW4UWFEM58 | Long             | EC               | CORP              | US        |    187069 | NS      | $1893138.28   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| QuinStreet Inc                                   | QUINSTREET INC                            | CUSIP: 74874Q100<br>LEI: 549300TP8MFBFPOS4Y78 | Long             | EC               | CORP              | US        |     48415 | NS      | $779481.50    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| DMC GLOBAL INC.                                  | DMC GLOBAL INC                            | CUSIP: 23291C103<br>LEI: 549300CBDXD1Z5MRNG02 | Long             | EC               | CORP              | US        |     10746 | NS      | $86612.76     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| TRIPADVISOR, INC.                                | TRIPADVISOR INC                           | CUSIP: 896945201<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    127221 | NS      | $1660234.05   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| GIGACLOUD TECHNOLOGY INC                         | GIGACLOUD TECHNOLOGY INC                  | CUSIP: G38644103<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     92061 | NS      | $1820966.58   | 0.65%             |  |  |  | No            |                  1 | On Loan: —       |
| HARMONIC INC.                                    | HARMONIC INC                              | CUSIP: 413160102<br>LEI: 549300LRGRD8XC9BTL66 | Long             | EC               | CORP              | US        |     83292 | NS      | $788775.24    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| AMPHASTAR PHARMACEUTICALS INC                    | AMPHASTAR PHARMACEUTICALS INC             | CUSIP: 03209R103<br>LEI: 54930055TH0ZLSAQMJ38 | Long             | EC               | CORP              | US        |     47571 | NS      | $1092230.16   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| RINGCENTRAL, INC.                                | RINGCENTRAL INC CLASS A                   | CUSIP: 76680R206<br>LEI: 549300C8EH0H1614VE84 | Long             | EC               | CORP              | US        |    117748 | NS      | $3338155.80   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| FREIGHTCAR AMERICA, INC.                         | FREIGHTCAR AMERI INC                      | CUSIP: 357023100<br>LEI: 254900UEML23YM2EQB31 | Long             | EC               | CORP              | US        |     17261 | NS      | $148789.82    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| SHUTTERSTOCK, INC.                               | SHUTTERSTOCK INC                          | CUSIP: 825690100<br>LEI: 529900G2TDIS56V0LO22 | Long             | EC               | CORP              | US        |     49798 | NS      | $944170.08    | 0.33%             |  |  |  | No            |                  1 | On Loan: —       |
| OppFi Inc                                        | OPPFI INC                                 | CUSIP: 68386H103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    150621 | NS      | $2107187.79   | 0.75%             |  |  |  | No            |                  1 | On Loan: —       |
| Onespaworld Holdings Ltd                         | ONESPAWORLD HOLDINGS LTD                  | CUSIP: P73684113<br>LEI: 5493007W8PZ8W6UC2X76 | Long             | EC               | CORP              | BS        |     54572 | NS      | $1112723.08   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| SYLVAMO CORPORATION                              | SYLVAMO CORP                              | CUSIP: 871332102<br>LEI: 5493001AOYU1ZOWOC971 | Long             | EC               | CORP              | US        |     23047 | NS      | $1154654.70   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Amdocs Limited                                   | AMDOCS LTD                                | CUSIP: G02602103<br>LEI: 549300HQV672RJ7RQV66 | Long             | EC               | CORP              | GG        |     19731 | NS      | $1800256.44   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| MOLSON COORS BEVERAGE COMPANY                    | MOLSON COORS BEVERAGE CO                  | CUSIP: 60871R209<br>LEI: 54930073LBBH6ZCBE225 | Long             | EC               | CORP              | US        |     51413 | NS      | $2472451.17   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Nutex Health Inc                                 | NUTEX HEALTH INC                          | CUSIP: 67079U306<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6801 | NS      | $846656.49    | 0.30%             |  |  |  | No            |                  1 | On Loan: —       |
| SCHOLASTIC CORPORATION                           | SCHOLASTIC CORP                           | CUSIP: 807066105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     22922 | NS      | $480903.56    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| BLUE BIRD CORPORATION                            | BLUE BIRD CORP                            | CUSIP: 095306106<br>LEI: 5493004ZXJUUWQ65ER59 | Long             | EC               | CORP              | US        |     25890 | NS      | $1117412.40   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| VISTEON CORPORATION                              | VISTEON CORP                              | CUSIP: 92839U206<br>LEI: 549300MOVLYHRW4GGW78 | Long             | EC               | CORP              | US        |     19351 | NS      | $1805448.30   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| CENTURY ALUMINUM COMPANY                         | CENTURY ALUMINUM CO                       | CUSIP: 156431108<br>LEI: 549300U5ODNGEYWKSW73 | Long             | EC               | CORP              | US        |     75322 | NS      | $1357302.44   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| GULFPORT ENERGY CORPORATION                      | GULFPORT ENERGY CORP                      | CUSIP: 402635502<br>LEI: 254900DJRGZBUZ3F5038 | Long             | EC               | CORP              | US        |     14062 | NS      | $2828852.54   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| GENTEX CORPORATION                               | GENTEX CORP                               | CUSIP: 371901109<br>LEI: 549300S3UD8XV1MN0287 | Long             | EC               | CORP              | US        |     77027 | NS      | $1693823.73   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| ACCEL ENTERTAINMENT, INC.                        | ACCEL ENTERTAINMENT INC                   | CUSIP: 00436Q106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     22703 | NS      | $267214.31    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ALKERMES PUBLIC LIMITED COMPANY                  | ALKERMES PLC                              | CUSIP: G01767105<br>LEI: N/A                  | Long             | EC               | CORP              | IE        |     51033 | NS      | $1460054.13   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| QUAKER CHEMICAL CORPORATION                      | QUAKER HOUGHTON                           | CUSIP: 747316107<br>LEI: 549300PJQ1R3WCWCPS54 | Long             | EC               | CORP              | US        |      9520 | NS      | $1065668.80   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| FRESH DEL MONTE PRODUCE INC.                     | FRESH DEL MONTE PRODUCE INC               | CUSIP: G36738105<br>LEI: 529900I72V9F0FEZR228 | Long             | EC               | CORP              | KY        |     33575 | NS      | $1088501.50   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| BIOVENTUS INC.                                   | BIOVENTUS INC                             | CUSIP: 09075A108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     39803 | NS      | $263495.86    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| REX AMERICAN RESOURCES CORPORATION               | REX AMERICAN RESOURCES CORP               | CUSIP: 761624105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15231 | NS      | $741902.01    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| CALIFORNIA RESOURCES CORPORATION                 | CALIFORNIA RESOURCES CORP                 | CUSIP: 13057Q305<br>LEI: 5493003Q8F0T4F4YMR48 | Long             | EC               | CORP              | US        |     58070 | NS      | $2652056.90   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| SM ENERGY COMPANY                                | SM ENERGY CO                              | CUSIP: 78454L100<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | EC               | CORP              | US        |     90670 | NS      | $2240455.70   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| NOV INC.                                         | NOV INC                                   | CUSIP: 62955J103<br>LEI: 549300EHF3IW1AR6U008 | Long             | EC               | CORP              | US        |    234138 | NS      | $2910335.34   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| I3 VERTICALS, INC.                               | I3 VERTICALS INC                          | CUSIP: 46571Y107<br>LEI: 549300944CYWVP06CJ97 | Long             | EC               | CORP              | US        |     23090 | NS      | $634513.20    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| BIOMARIN PHARMACEUTICAL INC.                     | BIOMARIN PHARMACEUTICAL INC               | CUSIP: 09061G101<br>LEI: NSLL8ITTRR0J5HEMR848 | Long             | EC               | CORP              | US        |     33776 | NS      | $1856666.72   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| GOODRX HOLDINGS, INC.                            | GOODRX HOLDINGS INC                       | CUSIP: 38246G108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    131221 | NS      | $653480.58    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| FIGS, INC.                                       | FIGS INC                                  | CUSIP: 30260D103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     93759 | NS      | $528800.76    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| IRIDIUM COMMUNICATIONS INC.                      | IRIDIUM COMMUNICATIONS INC                | CUSIP: 46269C102<br>LEI: 549300U620NVQ4J1CT96 | Long             | EC               | CORP              | US        |     47981 | NS      | $1447586.77   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| BORGWARNER INC.                                  | BORGWARNER INC                            | CUSIP: 099724106<br>LEI: 549300DSFX2IE88NSX47 | Long             | EC               | CORP              | US        |     65899 | NS      | $2206298.52   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| PACIRA BIOSCIENCES, INC.                         | PACIRA BIOSCIENCES INC                    | CUSIP: 695127100<br>LEI: 549300P56LERYBDHCF69 | Long             | EC               | CORP              | US        |     89832 | NS      | $2146984.80   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| J.JILL, INC.                                     | J JILL INC                                | CUSIP: 46620W201<br>LEI: 529900I19PJIF8MIDL12 | Long             | EC               | CORP              | US        |     12886 | NS      | $188651.04    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| JAZZ PHARMACEUTICALS PUBLIC LIMITED COMPANY      | JAZZ PHARMACEUTICALS PLC                  | CUSIP: G50871105<br>LEI: 635400GAUMJCLEZRRV50 | Long             | EC               | CORP              | IE        |     45298 | NS      | $4807023.76   | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| KB HOME                                          | KB HOME                                   | CUSIP: 48666K109<br>LEI: 549300LGUCWQURMWLG09 | Long             | EC               | CORP              | US        |     36003 | NS      | $1907078.91   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| CIVITAS RESOURCES, INC.                          | CIVITAS RESOURCES INC                     | CUSIP: 17888H103<br>LEI: IIVIHPH28S64K95M2381 | Long             | EC               | CORP              | US        |    117198 | NS      | $3225288.96   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| KELLY SERVICES, INC.                             | KELLY SERVICES INC A                      | CUSIP: 488152208<br>LEI: 25490035B2ZPL6RM1974 | Long             | EC               | CORP              | US        |     24491 | NS      | $286789.61    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Pangaea Logistics Solutions Ltd                  | PANGAEA LOGISTICS SOLUTIONS LTD           | CUSIP: G6891L105<br>LEI: N/A                  | Long             | EC               | CORP              | BM        |     20669 | NS      | $97144.30     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Nextracker Inc                                   | NEXTRACKER INC                            | CUSIP: 65290E101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     29150 | NS      | $1584885.50   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| GARRETT MOTION INC.                              | GARRETT MOTION INC                        | CUSIP: 366505105<br>LEI: 549300LS5WT7EMBNV724 | Long             | EC               | CORP              | US        |    221481 | NS      | $2327765.31   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| CIRRUS LOGIC, INC.                               | CIRRUS LOGIC INC                          | CUSIP: 172755100<br>LEI: 549300NKSJEM5ZZSSV18 | Long             | EC               | CORP              | US        |     16604 | NS      | $1731050.02   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| DIGI INTERNATIONAL INC.                          | DIGI INTERNATIONAL INCORPORATED           | CUSIP: 253798102<br>LEI: 529900KG656HGROI4N27 | Long             | EC               | CORP              | US        |     11112 | NS      | $387364.32    | 0.14%             |  |  |  | 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        |   1883309 | NS      | $1883309.24   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| HNI CORPORATION                                  | HNI CORP                                  | CUSIP: 404251100<br>LEI: 549300SKRADLC4O5HV93 | Long             | EC               | CORP              | US        |     24185 | NS      | $1189418.30   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Progyny Inc                                      | PROGYNY INC                               | CUSIP: 74340E103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     73580 | NS      | $1618760.00   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| UPWORK INC.                                      | UPWORK INC                                | CUSIP: 91688F104<br>LEI: 5493004QJ6WWBXVE2S70 | Long             | EC               | CORP              | US        |    108795 | NS      | $1462204.80   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| HEIDRICK & STRUGGLES INTERNATIONAL, INC.         | HEIDRICK STRUGGLES INTERNATIONAL INC      | CUSIP: 422819102<br>LEI: 5493006284N2J367VB57 | Long             | EC               | CORP              | US        |     17653 | NS      | $807801.28    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| MCGRATH RENTCORP                                 | MCGRATH RENTCORP                          | CUSIP: 580589109<br>LEI: 254900EUH6IPWFQ83445 | Long             | EC               | CORP              | US        |     10716 | NS      | $1242627.36   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| CONCENTRIX CORPORATION                           | CONCENTRIX CORP                           | CUSIP: 20602D101<br>LEI: 5493000EAJN1KMPVA737 | Long             | EC               | CORP              | US        |     32819 | NS      | $1734648.25   | 0.62%             |  |  |  | No            |                  1 | On Loan: —       |
| LYFT, INC.                                       | LYFT INC                                  | CUSIP: 55087P104<br>LEI: 549300H7I5VN334XVZ52 | Long             | EC               | CORP              | US        |    245671 | NS      | $3871774.96   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| TELEFLEX INCORPORATED                            | TELEFLEX INC                              | CUSIP: 879369106<br>LEI: UUL85LWXB4NGSWWXIQ25 | Long             | EC               | CORP              | US        |     16183 | NS      | $1915419.88   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| STEVEN MADDEN, LTD.                              | STEVEN MADDEN LTD                         | CUSIP: 556269108<br>LEI: 549300Z9GZ7GYJWSGF43 | Long             | EC               | CORP              | US        |     46393 | NS      | $1112504.14   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| PERMIAN RESOURCES CORPORATION                    | PERMIAN RESOURCES CORP COM                | CUSIP: 71424F105<br>LEI: 529900NXUJPOKU7OJ511 | Long             | EC               | CORP              | US        |    230887 | NS      | $3144680.94   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| ONESPAN INC.                                     | ONESPAN INC                               | CUSIP: 68287N100<br>LEI: 984500E502E6DC354D26 | Long             | EC               | CORP              | US        |     26158 | NS      | $436577.02    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| INVESCO GOVERNMENT & AGENCY PORTFOLIO            | INVESCO GVT & AGNCY-INST                  | CUSIP: 825252885<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   1883309 | NS      | $1883309.24   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| LEGALZOOM.COM, INC.                              | LEGALZOOM COM INC                         | CUSIP: 52466B103<br>LEI: 5493000L8EBF74Y9JZ48 | Long             | EC               | CORP              | US        |    171805 | NS      | $1530782.55   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| FLUOR CORPORATION.                               | FLUOR CORP                                | CUSIP: 343412102<br>LEI: CQ7WZ4NOFWT7FAE6Q943 | Long             | EC               | CORP              | US        |     38670 | NS      | $1982610.90   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Penguin Solutions, Inc.                          | PENGUIN SOLUTIONS INC                     | CUSIP: G8232Y101<br>LEI: 529900RDGHQY8XKXPN14 | Long             | EC               | CORP              | KY        |     62982 | NS      | $1247673.42   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Maplebear Inc                                    | MAPLEBEAR INC                             | CUSIP: 565394103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     53165 | NS      | $2405184.60   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| MAXIMUS, INC.                                    | MAXIMUS INC                               | CUSIP: 577933104<br>LEI: 549300DQCDS8HJ7QF202 | Long             | EC               | CORP              | US        |     24289 | NS      | $1705087.80   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| GRIFFON CORPORATION                              | GRIFFON CORP                              | CUSIP: 398433102<br>LEI: 5493000C2SGNC7ZN3242 | Long             | EC               | CORP              | US        |     20243 | NS      | $1464985.91   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| MAGNOLIA OIL & GAS CORPORATION                   | MAGNOLIA OIL GAS CORP                     | CUSIP: 559663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     94076 | NS      | $2114828.48   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| PHINIA INC.                                      | PHINIA INC                                | CUSIP: 71880K101<br>LEI: 254900HG6MORZE1FFM18 | Long             | EC               | CORP              | US        |     32661 | NS      | $1453087.89   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Dorian LPG Ltd.                                  | DORIAN LPG LTD                            | CUSIP: Y2106R110<br>LEI: 549300WP1W2WGMC7F395 | Long             | EC               | CORP              | MH        |     95117 | NS      | $2318952.46   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| BENCHMARK ELECTRONICS, INC.                      | BENCHMARK ELECTRONICS INC                 | CUSIP: 08160H101<br>LEI: 549300W18RHYZOZKOP53 | Long             | EC               | CORP              | US        |     20225 | NS      | $785336.75    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| BANDWIDTH INC.                                   | BANDWIDTH INC                             | CUSIP: 05988J103<br>LEI: 549300QC70JB7MUGXM66 | Long             | EC               | CORP              | US        |     18466 | NS      | $293609.40    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| RUSSELL 2000 MINI INDEX FUTURE SEP25             | RUSSELL 2000 MINI INDEX FUTURE SEP25      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         4 | NC      | $12018.00     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ENPHASE ENERGY, INC.                             | ENPHASE ENERGY INC                        | CUSIP: 29355A107<br>LEI: 5493008U7KIGMI59Z314 | Long             | EC               | CORP              | US        |     36053 | NS      | $1429501.45   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| SIGA TECHNOLOGIES, INC.                          | SIGA TECHNOLOGIES INC                     | CUSIP: 826917106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     55112 | NS      | $359330.24    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Udemy Inc                                        | UDEMY INC                                 | CUSIP: 902685106<br>LEI: 2549000T304QU9SAM180 | Long             | EC               | CORP              | US        |     85833 | NS      | $603405.99    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| DNOW INC.                                        | DNOW INC                                  | CUSIP: 67011P100<br>LEI: 549300AVH5SOCFVVDW91 | Long             | EC               | CORP              | US        |    159773 | NS      | $2369433.59   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| AMEDISYS, INC.                                   | AMEDISYS INC                              | CUSIP: 023436108<br>LEI: 5299001RBS9GK9STN379 | Long             | EC               | CORP              | US        |     12831 | NS      | $1262442.09   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| PERIMETER SOLUTIONS, INC.                        | PERIMETER SOLUTIONS INC                   | CUSIP: 71385M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     82793 | NS      | $1152478.56   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| MAYVILLE ENGINEERING COMPANY, INC                | MAYVILLE ENGINEERING CO INC               | CUSIP: 578605107<br>LEI: 9845008D43E42A7FC362 | Long             | EC               | CORP              | US        |     13327 | NS      | $212698.92    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| EVERI HOLDINGS INC.                              | EVERI HOLDINGS INC                        | CUSIP: 30034T103<br>LEI: 5299006DK5S7BG10K532 | Long             | EC               | CORP              | US        |    145616 | NS      | $2073571.84   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| MRC GLOBAL INC.                                  | MRC GLOBAL INC                            | CUSIP: 55345K103<br>LEI: 529900TSBPOLCLI2L582 | Long             | EC               | CORP              | US        |     61004 | NS      | $836364.84    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| MITEK SYSTEMS, INC.                              | MITEK SYSTEMS INC                         | CUSIP: 606710200<br>LEI: 549300ABZAQ3R25XG118 | Long             | EC               | CORP              | US        |     20378 | NS      | $201742.20    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Coursera Inc                                     | COURSERA INC                              | CUSIP: 22266M104<br>LEI: 984500573CA1QB7DAC30 | Long             | EC               | CORP              | US        |    148415 | NS      | $1300115.40   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| GENIE ENERGY LTD.                                | GENIE ENERGY LTD                          | CUSIP: 372284208<br>LEI: 52990057E36X8869GX58 | Long             | EC               | CORP              | US        |      7685 | NS      | $206572.80    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| VIMEO, INC.                                      | VIMEO INC                                 | CUSIP: 92719V100<br>LEI: 25490061AWYWC90UIJ68 | Long             | EC               | CORP              | US        |    117288 | NS      | $473843.52    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| CORE NATURAL RESOURCES, INC.                     | CORE NATURAL RESOURCES INC                | CUSIP: 218937100<br>LEI: 549300YJCTPJBTK7IJ81 | Long             | EC               | CORP              | US        |     53633 | NS      | $3740365.42   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| HELMERICH & PAYNE, INC.                          | HELMERICH PAYNE INC                       | CUSIP: 423452101<br>LEI: 254900NAOGHJ88RZ4C73 | Long             | EC               | CORP              | US        |     77500 | NS      | $1174900.00   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| TD SYNNEX CORPORATION                            | TD SYNNEX CORP                            | CUSIP: 87162W100<br>LEI: 5493004HI6PFLF46NS53 | Long             | EC               | CORP              | US        |     19801 | NS      | $2686995.70   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| OIL STATES INTERNATIONAL, INC.                   | OIL STATES INTERNATIONAL INC              | CUSIP: 678026105<br>LEI: 5493004TF4KQJGMYL777 | Long             | EC               | CORP              | US        |     82129 | NS      | $440211.44    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| FRANKLIN COVEY CO.                               | FRANKLIN COVEY CO                         | CUSIP: 353469109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7239 | NS      | $165193.98    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Kiniksa Pharmaceuticals International PLC        | KINIKSA PHARMACEUTICALS INTERNATIONAL PLC | CUSIP: G52694109<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |     54137 | NS      | $1497970.79   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| SMITH DOUGLAS HOMES CORP.                        | SMITH DOUGLAS HOMES CORP                  | CUSIP: 83207R107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5532 | NS      | $107431.44    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Country Airlines Holdings Inc                | SUN COUNTRY AIRLINES HOLDINGS INC         | CUSIP: 866683105<br>LEI: 549300MOHOJN9GH0NJ48 | Long             | EC               | CORP              | US        |    108188 | NS      | $1271209.00   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| MONARCH CASINO & RESORT, INC.                    | MONARCH CASINO RESORT INC                 | CUSIP: 609027107<br>LEI: 549300AK5FF7KY11V997 | Long             | EC               | CORP              | US        |     10437 | NS      | $902174.28    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Expro Group Holdings N.V.                        | EXPRO GROUP HOLDINGS NV                   | CUSIP: N3144W105<br>LEI: 724500LJYA8QIT73H017 | Long             | EC               | CORP              | NL        |    118395 | NS      | $1017013.05   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| ABERCROMBIE & FITCH CO.                          | ABERCROMBIE FITCH CO                      | CUSIP: 002896207<br>LEI: 5493000J7LL72TOGT983 | Long             | EC               | CORP              | US        |     34810 | NS      | $2884008.50   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| CATALYST PHARMACEUTICALS, INC.                   | CATALYST PHARMACEUTICALS INC              | CUSIP: 14888U101<br>LEI: 5299004O0R5XXLA5H544 | Long             | EC               | CORP              | US        |     79513 | NS      | $1725432.10   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| ASBURY AUTOMOTIVE GROUP, INC.                    | ASBURY AUTOMOTIVE GROUP INC               | CUSIP: 043436104<br>LEI: 549300JH4DTA7U42GL91 | Long             | EC               | CORP              | US        |      9958 | NS      | $2375381.32   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN PUBLIC EDUCATION, INC.                  | AMERICAN PUBLIC EDUCATION INC             | CUSIP: 02913V103<br>LEI: 254900GZNX6TJQGM4S17 | Long             | EC               | CORP              | US        |      9127 | NS      | $278008.42    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| IBOTTA, INC.                                     | IBOTTA INC                                | CUSIP: 451051106<br>LEI: 54930026OZD4IQ7YR615 | Long             | EC               | CORP              | US        |     23015 | NS      | $842349.00    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| CARS.COM INC.                                    | CARS COM INC                              | CUSIP: 14575E105<br>LEI: 5493002G6J07LNGX4M98 | Long             | EC               | CORP              | US        |    142866 | NS      | $1692962.10   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| STEELCASE INC.                                   | STEELCASE INC CL A                        | CUSIP: 858155203<br>LEI: GIE4CCPBJDI8SMV1OX95 | Long             | EC               | CORP              | US        |    100384 | NS      | $1047005.12   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-30

**Name of Applicant:** Victory Portfolios II

**Signature:** Carol Trevino

**Name of Signer:** Carol Trevino

**Title:** Treasurer