# EDGAR Filing Document

**Accession Number:** 0001547580
**File Stem:** 0001004726-26-001282
**Filing Date:** 2026-2
**Character Count:** 40116
**Document Hash:** 30ae7ca56bb0dc78995aad30ba45152a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001004726-26-001282.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0001004726-26-001282

**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:** 26694445

**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 International Free Cash Flow ETF (Series ID: S000093318)

| Class ID   | Class Name                                     | Ticker Symbol   |
|:---|:---|:---|
| C000261505 | VictoryShares International Free Cash Flow ETF | IFLO            |

## 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 International Free Cash Flow ETF

- **b. EDGAR series identifier (if any):** S000093318

- **c. LEI of Series:** 25490037MHD4381Z8M37

**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:** $108615649.80

**Total Liabilities:** $637290.06

**Net Assets:** $107978359.74

**Cash Not Reported:** $719652.82

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000261505 | -0.77%               | 2.75%                | 1.88%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1348.56                | $-714355.01                                |
| Month 2  | $-5228.23                | $2687711.35                                |
| Month 3  | $1914990.20              | $-35609.47                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| MSILF Government Portfolio                        | MSILF GOVERNMENT-INST                        | CUSIP: 61747C707<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    134250 | NS      | $134250.00    | 0.12%             |  |  |  | No            | 1                  | On Loan: No      |
| BRIDGESTONE CORPORATION                           | BRIDGESTONE CORP                             | CUSIP: N/A<br>LEI: 549300DHPOF90OYYD780       | Long             | EC               | CORP              | JP        |     43600 | NS      | $978230.11    | 0.91%             |  |  |  | No            | 1                  | On Loan: No      |
| Wolters Kluwer N.V.                               | WOLTERS KLUWER NV                            | CUSIP: N/A<br>LEI: 724500TEM53I0U077B74       | Long             | EC               | CORP              | NL        |      9724 | NS      | $1009433.91   | 0.93%             |  |  |  | No            | 1                  | On Loan: No      |
| SCREEN Holdings Co.,Ltd.                          | SCREEN HOLDINGS CO LTD                       | CUSIP: N/A<br>LEI: 353800ND89FTQ9XQ0R07       | Long             | EC               | CORP              | JP        |      5900 | NS      | $574102.92    | 0.53%             |  |  |  | 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        |    134250 | NS      | $134250.00    | 0.12%             |  |  |  | No            | 1                  | On Loan: No      |
| Shin-Etsu Chemical Co., Ltd.                      | SHIN ETSU CHEMICAL                           | CUSIP: N/A<br>LEI: 353800PX8Q64N86H5W41       | Long             | EC               | CORP              | JP        |     42700 | NS      | $1328547.44   | 1.23%             |  |  |  | No            | 1                  | On Loan: No      |
| D'IETEREN GROUP SA                                | D IETEREN GROUP                              | CUSIP: N/A<br>LEI: 549300DV5KJ23OKVTW34       | Long             | EC               | CORP              | BE        |      2291 | NS      | $414323.20    | 0.38%             |  |  |  | No            | 1                  | On Loan: No      |
| TOYO SUISAN KAISHA, LTD.                          | TOYO SUISAN KAISHA LTD                       | CUSIP: 892306101<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      4400 | NS      | $302004.85    | 0.28%             |  |  |  | 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        |    134250 | NS      | $134250.00    | 0.12%             |  |  |  | No            | 1                  | On Loan: No      |
| Beiersdorf Aktiengesellschaft                     | BEIERSDORF AG                                | CUSIP: N/A<br>LEI: L47NHHI0Z9X22DV46U41       | Long             | EC               | CORP              | DE        |      6427 | NS      | $707506.97    | 0.66%             |  |  |  | No            | 1                  | On Loan: No      |
| Pan American Silver Corp.                         | PAN AMERICAN SILVER CORP                     | CUSIP: 697900108<br>LEI: 549300MKTF5851TYIB83 | Long             | EC               | CORP              | CA        |     26291 | NS      | $1362136.71   | 1.26%             |  |  |  | No            | 1                  | On Loan: No      |
| NIPPON SANSO HOLDINGS CORPORATION                 | NIPPON SANSO HOLDINGS CORP                   | CUSIP: N/A<br>LEI: 353800F1K6653B4VPY57       | Long             | EC               | CORP              | JP        |     31000 | NS      | $923943.30    | 0.86%             |  |  |  | No            | 1                  | On Loan: No      |
| Heidelberg Materials AG                           | HEIDELBERG MATERIALS AG                      | CUSIP: N/A<br>LEI: LZ2C6E0W5W7LQMX5ZI37       | Long             | EC               | CORP              | DE        |      4317 | NS      | $1131260.06   | 1.05%             |  |  |  | No            | 1                  | On Loan: No      |
| AISIN CORPORATION                                 | AISIN SEIKI CO LTD                           | CUSIP: N/A<br>LEI: 3538004IOK08PDY6I723       | Long             | EC               | CORP              | JP        |     51400 | NS      | $960263.06    | 0.89%             |  |  |  | No            | 1                  | On Loan: No      |
| OBAYASHI CORPORATION                              | OBAYASHI CORPORATION                         | CUSIP: N/A<br>LEI: 529900YT4O5S0LCXWD54       | Long             | EC               | CORP              | JP        |     46000 | NS      | $960120.04    | 0.89%             |  |  |  | No            | 1                  | On Loan: No      |
| INPEX CORPORATION                                 | INPEX CORP                                   | CUSIP: N/A<br>LEI: 353800VHYYADPR6MXQ47       | Long             | EC               | CORP              | JP        |     43900 | NS      | $876486.40    | 0.81%             |  |  |  | No            | 1                  | On Loan: No      |
| ARC RESOURCES LTD                                 | ARC RESOURCES LTD                            | CUSIP: 00208D408<br>LEI: 5493000OCGNQZEVTDT08 | Long             | EC               | CORP              | CA        |     47765 | NS      | $896202.82    | 0.83%             |  |  |  | No            | 1                  | On Loan: No      |
| DASSAULT AVIATION SA                              | DASSAULT AVIATION SA                         | CUSIP: N/A<br>LEI: 969500CVFTUT88V8QN95       | Long             | EC               | CORP              | FR        |      1458 | NS      | $469101.16    | 0.43%             |  |  |  | No            | 1                  | On Loan: No      |
| TENARIS S.A.                                      | TENARIS SA                                   | CUSIP: N/A<br>LEI: 549300Y7C05BKC4HZB40       | Long             | EC               | CORP              | LU        |     56757 | NS      | $1101138.76   | 1.02%             |  |  |  | No            | 1                  | On Loan: No      |
| EQUINOR ASA                                       | EQUINOR ASA                                  | CUSIP: N/A<br>LEI: OW6OFBNCKXC4US5C7523       | Long             | EC               | CORP              | NO        |    144866 | NS      | $3407799.78   | 3.16%             |  |  |  | No            | 1                  | On Loan: No      |
| SUBARU CORPORATION                                | SUBARU CORP                                  | CUSIP: N/A<br>LEI: 549300N244BVAEE6HH86       | Long             | EC               | CORP              | JP        |     47600 | NS      | $1031809.48   | 0.96%             |  |  |  | No            | 1                  | On Loan: No      |
| TFI International Inc.                            | TFI INTERNATIONAL INC                        | CUSIP: 87241L109<br>LEI: 5493007R9W7KO7SJN678 | Long             | EC               | CORP              | CA        |      7344 | NS      | $759002.40    | 0.70%             |  |  |  | No            | 1                  | On Loan: No      |
| Renesas Electronics Corporation                   | RENESAS ELECTRONICS CORP                     | CUSIP: N/A<br>LEI: 5299000EPC47VJQOFB81       | Long             | EC               | CORP              | JP        |     68900 | NS      | $941425.11    | 0.87%             |  |  |  | No            | 1                  | On Loan: No      |
| SUZUKI MOTOR CORPORATION                          | SUZUKI MOTOR CO                              | CUSIP: N/A<br>LEI: 353800D83H0V3ZV1SV24       | Long             | EC               | CORP              | JP        |     62500 | NS      | $931593.99    | 0.86%             |  |  |  | No            | 1                  | On Loan: No      |
| RECORDATI INDUSTRIA CHIMICA E FARMACEUTICA S.P.A. | RECORDATI SPA                                | CUSIP: N/A<br>LEI: 815600FBF92FD3531704       | Long             | EC               | CORP              | IT        |      8347 | NS      | $476108.27    | 0.44%             |  |  |  | No            | 1                  | On Loan: No      |
| Repsol S.A.                                       | REPSOL SA                                    | CUSIP: N/A<br>LEI: BSYCX13Y0NOTV14V9N85       | Long             | EC               | CORP              | ES        |     50140 | NS      | $938294.81    | 0.87%             |  |  |  | No            | 1                  | On Loan: No      |
| CANON INC.                                        | CANON INC                                    | CUSIP: N/A<br>LEI: 529900JH1GSC035SSP77       | Long             | EC               | CORP              | JP        |     43800 | NS      | $1295654.45   | 1.20%             |  |  |  | No            | 1                  | On Loan: No      |
| CANADIAN DOLLAR                                   | CANADIAN DOLLAR                              | CUSIP: N/A<br>LEI: N/A                        | N/A              |  |  | CA        |      2251 | NS      | $1639.85      | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| NIDEC CORPORATION                                 | NIDEC CORP                                   | CUSIP: N/A<br>LEI: 353800IF171MZTNL6Y31       | Long             | EC               | CORP              | JP        |     60800 | NS      | $827643.98    | 0.77%             |  |  |  | No            | 1                  | On Loan: No      |
| MINES AGNICO EAGLE LIMITEE                        | AGNICO EAGLE MINES LTD                       | CUSIP: 008474108<br>LEI: 254900BFJ2DOHPMEXN45 | Long             | EC               | CORP              | CA        |      8694 | NS      | $1473893.82   | 1.36%             |  |  |  | No            | 1                  | On Loan: No      |
| OTSUKA CORPORATION                                | OTSUKA CORPORATION                           | CUSIP: N/A<br>LEI: 529900RG9DJ58J3UIE72       | Long             | EC               | CORP              | JP        |     19700 | NS      | $406527.90    | 0.38%             |  |  |  | No            | 1                  | On Loan: No      |
| CCL INDUSTRIES INC.                               | CCL INDUSTRIES INC                           | CUSIP: 124900309<br>LEI: 549300TD3EMSRRC0YH75 | Long             | EC               | CORP              | CA        |      9435 | NS      | $596046.71    | 0.55%             |  |  |  | No            | 1                  | On Loan: No      |
| CGI INC.                                          | CGI INC                                      | CUSIP: 12532H104<br>LEI: 549300WSRCZY73ZG3090 | Long             | EC               | CORP              | CA        |     13360 | NS      | $1234174.29   | 1.14%             |  |  |  | No            | 1                  | On Loan: No      |
| Astellas Pharma Inc.                              | ASTELLAS PHARMA INC                          | CUSIP: N/A<br>LEI: 529900IB708DY2HBBB35       | Long             | EC               | CORP              | JP        |    118600 | NS      | $1584917.64   | 1.47%             |  |  |  | No            | 1                  | On Loan: No      |
| DSM-Firmenich AG                                  | DSM FIRMENICH AG                             | CUSIP: N/A<br>LEI: 506700G44V67MPM4BI12       | Long             | EC               | CORP              | CH        |     10764 | NS      | $869731.30    | 0.81%             |  |  |  | No            | 1                  | On Loan: No      |
| INVESCO GOVERNMENT & AGENCY PORTFOLIO             | INVESCO GVT & AGNCY-INST                     | CUSIP: 825252885<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    134250 | NS      | $134250.00    | 0.12%             |  |  |  | No            | 1                  | On Loan: No      |
| SPIE SA                                           | SPIE SA                                      | CUSIP: N/A<br>LEI: 969500TJNS5GSFWJ8X85       | Long             | EC               | CORP              | FR        |     10520 | NS      | $608955.69    | 0.56%             |  |  |  | No            | 1                  | On Loan: No      |
| Buzzi SpA                                         | BUZZI UNICEM SPA                             | CUSIP: N/A<br>LEI: 5299003DX5YLKSVJ6K59       | Long             | EC               | CORP              | IT        |      7619 | NS      | $465561.29    | 0.43%             |  |  |  | No            | 1                  | On Loan: No      |
| INFORMA PLC                                       | INFORMA PLC                                  | CUSIP: N/A<br>LEI: 5493006VM2LKUPSEDU20       | Long             | EC               | CORP              | GB        |     76828 | NS      | $915309.33    | 0.85%             |  |  |  | No            | 1                  | On Loan: No      |
| SANTOS LIMITED                                    | SANTOS LTD                                   | CUSIP: N/A<br>LEI: 5299000RK70B5O2M7077       | Long             | EC               | CORP              | AU        |    204275 | NS      | $840923.91    | 0.78%             |  |  |  | No            | 1                  | On Loan: No      |
| Japan Airlines Co., Ltd.                          | JAPAN AIRLINES CO LTD                        | CUSIP: N/A<br>LEI: 3538002MH5L1QZZ93477       | Long             | EC               | CORP              | JP        |     39400 | NS      | $730794.28    | 0.68%             |  |  |  | No            | 1                  | On Loan: No      |
| WIX.COM LTD                                       | WIX COM LTD                                  | CUSIP: M98068105<br>LEI: 5493008P6N29Q1AG9464 | Long             | EC               | CORP              | IL        |      8742 | NS      | $908206.38    | 0.84%             |  |  |  | No            | 1                  | On Loan: No      |
| Suncor Energy Inc.                                | SUNCOR ENERGY INC                            | CUSIP: 867224107<br>LEI: 549300W70ZOQDVLCHY06 | Long             | EC               | CORP              | CA        |     43269 | NS      | $1920684.55   | 1.78%             |  |  |  | No            | 1                  | On Loan: No      |
| Pandora A/S                                       | PANDORA A S                                  | CUSIP: N/A<br>LEI: 5299007OWYZ6I1E46843       | Long             | EC               | CORP              | DK        |      7167 | NS      | $798012.46    | 0.74%             |  |  |  | No            | 1                  | On Loan: No      |
| Norsk Hydro ASA                                   | NORSK HYDRO ASA                              | CUSIP: N/A<br>LEI: 549300N1SDN71ZZ8BO45       | Long             | EC               | CORP              | NO        |     81973 | NS      | $636263.25    | 0.59%             |  |  |  | No            | 1                  | On Loan: No      |
| KOMATSU LTD.                                      | KOMATSU LIMITED                              | CUSIP: N/A<br>LEI: 5493004LQ0B4T7QPQV17       | Long             | EC               | CORP              | JP        |     34100 | NS      | $1088622.14   | 1.01%             |  |  |  | No            | 1                  | On Loan: No      |
| EIFFAGE SA                                        | EIFFAGE SA                                   | CUSIP: N/A<br>LEI: 969500OQXKE5WDM9M994       | Long             | EC               | CORP              | FR        |      9523 | NS      | $1369716.68   | 1.27%             |  |  |  | No            | 1                  | On Loan: No      |
| JDE Peet's N.V.                                   | JDE PEET S NV                                | CUSIP: N/A<br>LEI: 724500EHG519SE5ZRT89       | Long             | EC               | CORP              | NL        |     15475 | NS      | $579364.62    | 0.54%             |  |  |  | No            | 1                  | On Loan: No      |
| LES VETEMENTS DE SPORT GILDAN INC.                | GILDAN ACTIVEWEAR INC                        | CUSIP: 375916103<br>LEI: 549300SB3IBI34M00Z45 | Long             | EC               | CORP              | CA        |     11747 | NS      | $733717.62    | 0.68%             |  |  |  | No            | 1                  | On Loan: No      |
| RIGHTMOVE PLC                                     | RIGHTMOVE PLC                                | CUSIP: N/A<br>LEI: 2138001JXGCFKBXYB828       | Long             | EC               | CORP              | GB        |     47504 | NS      | $332656.04    | 0.31%             |  |  |  | No            | 1                  | On Loan: No      |
| WHITECAP RESOURCES INC.                           | WHITECAP RESOURCES INC                       | CUSIP: 96467A200<br>LEI: 894500UA4G4BTB67II45 | Long             | EC               | CORP              | CA        |     94162 | NS      | $789028.71    | 0.73%             |  |  |  | No            | 1                  | On Loan: —       |
| GENMAB A/S                                        | GENMAB A S                                   | CUSIP: N/A<br>LEI: 529900MTJPDPE4MHJ122       | Long             | EC               | CORP              | DK        |      4258 | NS      | $1358137.84   | 1.26%             |  |  |  | No            | 1                  | On Loan: No      |
| MINI MSCI EAFE INDEX FUTURE MAR26                 | MINI MSCI EAFE INDEX FUTURE MAR26            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         5 | NC      | $789.60       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| AUTO TRADER GROUP PLC                             | AUTO TRADER GROUP PLC                        | CUSIP: N/A<br>LEI: 213800QLK9BZILB1DI86       | Long             | EC               | CORP              | GB        |     61616 | NS      | $486949.08    | 0.45%             |  |  |  | Yes           | 1                  | On Loan: No      |
| BUREAU VERITAS SA                                 | BUREAU VERITAS SA                            | CUSIP: N/A<br>LEI: 969500TPU5T3HA5D1F11       | Long             | EC               | CORP              | FR        |     22337 | NS      | $713427.49    | 0.66%             |  |  |  | No            | 1                  | On Loan: No      |
| Takeda Pharmaceutical Company Limited             | TAKEDA PHARMACEUTICAL CO LTD                 | CUSIP: N/A<br>LEI: 549300ZLMVP4X0OGR454       | Long             | EC               | CORP              | JP        |     79600 | NS      | $2457323.46   | 2.28%             |  |  |  | No            | 1                  | On Loan: No      |
| Galaxy Entertainment Group Limited                | GALAXY ENTERTAINMENT GROUP LTD               | CUSIP: N/A<br>LEI: 549300ZSEBV3HR826S10       | Long             | EC               | CORP              | HK        |    150262 | NS      | $739870.20    | 0.69%             |  |  |  | No            | 1                  | On Loan: No      |
| Securitas AB                                      | SECURITAS AB                                 | CUSIP: N/A<br>LEI: 635400TTYKE8EIWDS617       | Long             | EC               | CORP              | SE        |     34786 | NS      | $556340.16    | 0.52%             |  |  |  | No            | 1                  | On Loan: No      |
| INTERTEK GROUP PLC                                | INTERTEK GROUP PLC                           | CUSIP: N/A<br>LEI: 2138003GAT25WW1RN369       | Long             | EC               | CORP              | GB        |      8480 | NS      | $528685.71    | 0.49%             |  |  |  | No            | 1                  | On Loan: No      |
| Open Text Corporation                             | OPEN TEXT CORP                               | CUSIP: 683715106<br>LEI: 549300HP7ONDQODZJV16 | Long             | EC               | CORP              | CA        |     20610 | NS      | $671473.80    | 0.62%             |  |  |  | No            | 1                  | On Loan: No      |
| TAISEI CORPORATION                                | TAISEI CORP                                  | CUSIP: N/A<br>LEI: 529900TF7XJKIOWMLQ79       | Long             | EC               | CORP              | JP        |      7800 | NS      | $738813.69    | 0.68%             |  |  |  | No            | 1                  | On Loan: No      |
| NICE LTD                                          | NICE LTD                                     | CUSIP: N/A<br>LEI: 254900YTY4EF5Z4W0A51       | Long             | EC               | CORP              | IL        |      8423 | NS      | $945925.31    | 0.88%             |  |  |  | No            | 1                  | On Loan: No      |
| ASHTEAD GROUP PUBLIC LIMITED COMPANY              | ASHTEAD GROUP PLC                            | CUSIP: N/A<br>LEI: 2138007UTBN8X9K1A235       | Long             | EC               | CORP              | GB        |     18757 | NS      | $1285688.71   | 1.19%             |  |  |  | No            | 1                  | On Loan: No      |
| Bandai Namco Holdings Inc.                        | BANDAI NAMCO HOLDINGS INC                    | CUSIP: N/A<br>LEI: 3538008EFEM34VRJDQ95       | Long             | EC               | CORP              | JP        |     28800 | NS      | $767166.39    | 0.71%             |  |  |  | No            | 1                  | On Loan: No      |
| Constellation Software Inc.                       | CONSTELLATION SOFTWARE INC CANADA            | CUSIP: 21037X100<br>LEI: 549300B6PYHMCTDWQV29 | Long             | EC               | CORP              | CA        |       519 | NS      | $1248489.22   | 1.16%             |  |  |  | No            | 1                  | On Loan: No      |
| ORKLA ASA                                         | ORKLA ASA                                    | CUSIP: N/A<br>LEI: 549300PZS8G8RG6RVZ52       | Long             | EC               | CORP              | NO        |     47909 | NS      | $534969.33    | 0.50%             |  |  |  | No            | 1                  | On Loan: No      |
| CTS Eventim AG & Co. KGaA                         | CTS EVENTIM AG CO KGAA                       | CUSIP: N/A<br>LEI: 529900FDHSN08UBJII80       | Long             | EC               | CORP              | DE        |      3919 | NS      | $361510.12    | 0.33%             |  |  |  | No            | 1                  | On Loan: No      |
| Cenovus Energy Inc.                               | CENOVUS ENERGY INC                           | CUSIP: 15135U109<br>LEI: 549300F4XPHJ7NOSP309 | Long             | EC               | CORP              | CA        |     75501 | NS      | $1277476.92   | 1.18%             |  |  |  | No            | 1                  | On Loan: No      |
| BRAMBLES LIMITED                                  | BRAMBLES LTD                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |     65924 | NS      | $1009884.60   | 0.94%             |  |  |  | No            | 1                  | On Loan: No      |
| Suntory Beverage & Food Limited                   | SUNTORY BEVERAGE FOOD LTD                    | CUSIP: N/A<br>LEI: 549300FONLMVK7YYYH41       | Long             | EC               | CORP              | JP        |     13700 | NS      | $413484.23    | 0.38%             |  |  |  | No            | 1                  | On Loan: No      |
| SITC International Holdings Co Ltd                | SITC INTERNATIONAL HOLDINGS CO LTD           | CUSIP: N/A<br>LEI: 529900JUV4MOM9CE3V12       | Long             | EC               | CORP              | KY        |    220250 | NS      | $788456.79    | 0.73%             |  |  |  | No            | 1                  | On Loan: No      |
| International Consolidated Airlines Group, S.A.   | INTERNATIONAL CONSOLIDATED AIRLINES GROUP SA | CUSIP: N/A<br>LEI: 959800TZHQRUSH1ESL13       | Long             | EC               | CORP              | ES        |    350483 | NS      | $1955891.10   | 1.81%             |  |  |  | No            | 1                  | On Loan: No      |
| PUBLICIS GROUPE S.A.                              | PUBLICIS GROUPE                              | CUSIP: N/A<br>LEI: 2138004KW8BV57III342       | Long             | EC               | CORP              | FR        |     17523 | NS      | $1824802.01   | 1.69%             |  |  |  | No            | 1                  | On Loan: No      |
| DENSO CORPORATION                                 | DENSO CORP                                   | CUSIP: N/A<br>LEI: 549300RYPA10CQM3QK38       | Long             | EC               | CORP              | JP        |    218500 | NS      | $3010618.06   | 2.79%             |  |  |  | No            | 1                  | On Loan: No      |
| DASSAULT SYSTEMES SE                              | DASSAULT SYSTEMES SE                         | CUSIP: N/A<br>LEI: 96950065LBWY0APQIM86       | Long             | EC               | CORP              | FR        |     35353 | NS      | $990394.15    | 0.92%             |  |  |  | No            | 1                  | On Loan: No      |
| CAPGEMINI SE                                      | CAPGEMINI SA                                 | CUSIP: N/A<br>LEI: 96950077L0TN7BAROX36       | Long             | EC               | CORP              | FR        |      8584 | NS      | $1434886.43   | 1.33%             |  |  |  | No            | 1                  | On Loan: No      |
| SAPUTO INC.                                       | SAPUTO INC                                   | CUSIP: 802912105<br>LEI: 549300HH4U1DPY0TBT90 | Long             | EC               | CORP              | CA        |     16650 | NS      | $501174.22    | 0.46%             |  |  |  | No            | 1                  | On Loan: No      |
| Kawasaki Kisen Kaisha, Ltd.                       | KAWASAKI KISEN KAISHA LTD                    | CUSIP: N/A<br>LEI: 353800FL04R73DS5P870       | Long             | EC               | CORP              | JP        |     60500 | NS      | $842488.19    | 0.78%             |  |  |  | No            | 1                  | On Loan: No      |
| Andritz AG                                        | ANDRITZ AG                                   | CUSIP: N/A<br>LEI: 549300VZKC61IR5U8G96       | Long             | EC               | CORP              | AT        |      9472 | NS      | $742965.25    | 0.69%             |  |  |  | No            | 1                  | On Loan: No      |
| SHELL PLC                                         | SHELL PLC                                    | CUSIP: N/A<br>LEI: 21380068P1DRHMJ8KU70       | Long             | EC               | CORP              | GB        |    117579 | NS      | $4348816.12   | 4.03%             |  |  |  | No            | 1                  | On Loan: No      |
| CHECK POINT SOFTWARE TECHNOLOGIES LTD.            | CHECK POINT SOFTWARE TECHNOLOGIES            | CUSIP: M22465104<br>LEI: 2549003ZVBH73EPNS513 | Long             | EC               | CORP              | IL        |      5192 | NS      | $963427.52    | 0.89%             |  |  |  | No            | 1                  | On Loan: No      |
| COMPUTERSHARE LIMITED                             | COMPUTERSHARE LTD                            | CUSIP: N/A<br>LEI: 21380085HOKTMGLV9G93       | Long             | EC               | CORP              | AU        |     32855 | NS      | $748378.50    | 0.69%             |  |  |  | No            | 1                  | On Loan: No      |
| Galp Energia, SGPS, S.A.                          | GALP ENERGIA SGPS SA                         | CUSIP: N/A<br>LEI: 2138003319Y7NM75FG53       | Long             | EC               | CORP              | PT        |     60109 | NS      | $1033378.38   | 0.96%             |  |  |  | No            | 1                  | On Loan: No      |
| BP P.L.C.                                         | BP PLC                                       | CUSIP: N/A<br>LEI: 213800LH1BZH3DI6G760       | Long             | EC               | CORP              | GB        |    437643 | NS      | $2552720.89   | 2.36%             |  |  |  | No            | 1                  | On Loan: No      |
| AUTOLIV, INC.                                     | AUTOLIV INC                                  | CUSIP: 052800109<br>LEI: A23RUXWKASG834LTMK28 | Long             | EC               | CORP              | US        |      6409 | NS      | $760748.30    | 0.70%             |  |  |  | No            | 1                  | On Loan: No      |
| Trend Micro Incorporated                          | TREND MICRO INC JAPAN                        | CUSIP: N/A<br>LEI: 3538005O5UJ5RNAGVE16       | Long             | EC               | CORP              | JP        |      6600 | NS      | $273995.66    | 0.25%             |  |  |  | No            | 1                  | On Loan: No      |
| Shionogi & Co., Ltd.                              | SHIONOGI CO LTD                              | CUSIP: N/A<br>LEI: 35380049VXDTHZI3DY35       | Long             | EC               | CORP              | JP        |     53900 | NS      | $977716.13    | 0.91%             |  |  |  | No            | 1                  | On Loan: No      |
| SOCIETE MINIERE BARRICK                           | BARRICK MINING CORP                          | CUSIP: 06849F108<br>LEI: 0O4KBQCJZX82UKGCBV73 | Long             | EC               | CORP              | CA        |     31795 | NS      | $1384672.25   | 1.28%             |  |  |  | No            | 1                  | On Loan: No      |
| Wartsila Oyj Abp                                  | WARTSILA OYJ ABP                             | CUSIP: N/A<br>LEI: 743700G7A9J1PHM3X223       | Long             | EC               | CORP              | FI        |     21185 | NS      | $756793.85    | 0.70%             |  |  |  | No            | 1                  | On Loan: No      |
| TECHNIPFMC PLC                                    | TECHNIPFMC PLC                               | CUSIP: G87110105<br>LEI: 549300D5I93QWCJTCK36 | Long             | EC               | CORP              | GB        |     25677 | NS      | $1144167.12   | 1.06%             |  |  |  | No            | 1                  | On Loan: No      |
| KINROSS GOLD CORPORATION                          | KINROSS GOLD CORP                            | CUSIP: 496902404<br>LEI: 254900O9KHF2A1ZXPT47 | Long             | EC               | CORP              | CA        |     71005 | NS      | $1999500.80   | 1.85%             |  |  |  | No            | 1                  | On Loan: No      |
| GEA Group Aktiengesellschaft                      | MG TECHNOLOGIES AG                           | CUSIP: N/A<br>LEI: 549300PHUU0ZZWO8EO07       | Long             | EC               | CORP              | DE        |      8841 | NS      | $600488.61    | 0.56%             |  |  |  | No            | 1                  | On Loan: No      |
| CANADIAN NATURAL RESOURCES LIMITED                | CANADIAN NATURAL RESOURCES LTD               | CUSIP: 136385101<br>LEI: 549300T15RIMIKZC5Q38 | Long             | EC               | CORP              | CA        |     60650 | NS      | $2054516.54   | 1.90%             |  |  |  | No            | 1                  | On Loan: No      |
| VINCI SA                                          | VINCI SA                                     | CUSIP: N/A<br>LEI: 213800WFQ334R8UXUG83       | Long             | EC               | CORP              | FR        |     12330 | NS      | $1739405.28   | 1.61%             |  |  |  | No            | 1                  | On Loan: No      |
| Chocoladefabriken Lindt & Spruengli AG            | CHOCOLADEFABRIKEN LINDT SPRUENGLI AG         | CUSIP: N/A<br>LEI: 529900JYJNNOKKAGK736       | Long             | EC               | CORP              | CH        |       160 | NS      | $2341709.81   | 2.17%             |  |  |  | No            | 1                  | On Loan: No      |
| Niterra Co., Ltd.                                 | NITERRA CO LTD                               | CUSIP: N/A<br>LEI: 549300RG3XQGTFM4HH31       | Long             | EC               | CORP              | JP        |      8900 | NS      | $391584.09    | 0.36%             |  |  |  | No            | 1                  | On Loan: No      |
| IPSEN SA                                          | IPSEN SA                                     | CUSIP: N/A<br>LEI: 549300M6SGDPB4Z94P11       | Long             | EC               | CORP              | FR        |      4817 | NS      | $673595.46    | 0.62%             |  |  |  | No            | 1                  | On Loan: No      |
| Yokogawa Electric Corporation                     | YOKOGAWA ELECTRIC CORP                       | CUSIP: N/A<br>LEI: 529900MV0U7C9WWF4L22       | Long             | EC               | CORP              | JP        |     11400 | NS      | $365102.80    | 0.34%             |  |  |  | No            | 1                  | On Loan: No      |
| MatsukiyoCocokara & Co.                           | MATSUKIYOCOCOKARA CO                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |     20000 | NS      | $346315.92    | 0.32%             |  |  |  | No            | 1                  | On Loan: No      |
| TECHTRONIC INDUSTRIES COMPANY LIMITED             | TECHTRONIC INDUSTRIES CO                     | CUSIP: N/A<br>LEI: 549300HZW2SBE758OK89       | Long             | EC               | CORP              | HK        |     68863 | NS      | $795474.94    | 0.74%             |  |  |  | No            | 1                  | On Loan: No      |
| BOUYGUES SA                                       | BOUYGUES                                     | CUSIP: N/A<br>LEI: 969500MOCLNQFNZN0D63       | Long             | EC               | CORP              | FR        |     17114 | NS      | $891909.31    | 0.83%             |  |  |  | No            | 1                  | On Loan: No      |
| Aena, S.M.E., S.A.                                | AENA SME SA                                  | CUSIP: E526LK101<br>LEI: 959800R7QMXKF0NFMT29 | Long             | EC               |  | ES        |     41323 | NS      | $1156669.13   | 1.07%             |  |  |  | Yes           | 1                  | On Loan: No      |
| ENDEAVOUR MINING PLC                              | ENDEAVOUR MINING PLC                         | CUSIP: N/A<br>LEI: 529900NI5MXQ91GHXR07       | Long             | EC               | CORP              | GB        |     34560 | NS      | $1803454.45   | 1.67%             |  |  |  | No            | 1                  | On Loan: No      |
| COMPAGNIE PETROLIERE IMPERIALE LTEE               | IMPERIAL OIL LTD                             | CUSIP: 453038408<br>LEI: 549300JZNB745JT5WY51 | Long             | EC               | CORP              | CA        |     15932 | NS      | $1376578.67   | 1.27%             |  |  |  | No            | 1                  | On Loan: No      |
| SANOFI SA                                         | SANOFI                                       | CUSIP: N/A<br>LEI: 549300E9PC51EN656011       | Long             | EC               | CORP              | FR        |     27309 | NS      | $2654555.85   | 2.46%             |  |  |  | No            | 1                  | On Loan: No      |
| Evolution AB (publ)                               | EVOLUTION AB                                 | CUSIP: N/A<br>LEI: 549300SUH6ZR1RF6TA88       | Long             | EC               | CORP              | SE        |     20273 | NS      | $1387231.00   | 1.28%             |  |  |  | Yes           | 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