# EDGAR Filing Document

**Accession Number:** 0001547580
**File Stem:** 0001752724-23-040991
**Filing Date:** 2023-2
**Character Count:** 40256
**Document Hash:** 6592172d38639cf17808cda65d321121
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-040991.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001752724-23-040991

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230227

**DATE AS OF CHANGE**: 20230227

**PERIOD START**: 20230630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Victory Portfolios II
- **CENTRAL INDEX KEY:** 0001547580
- **IRS NUMBER:** 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:** 23670775

**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 High Div Volatility Wtd ETF (Series ID: S000049909)

| Class ID   | Class Name                                              | Ticker Symbol   |
|:---|:---|:---|
| C000157590 | VictoryShares International High Div Volatility Wtd ETF | CID             |

## 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 International High Div Volatility Wtd ETF

- **b. EDGAR series identifier (if any):** S000049909

- **c. LEI of Series:** 5493001P5SPTEKIULJ27

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

- **a. Date of fiscal year-end:** 2023-06-30

- **b. Date as of which information is reported:** 2022-12-31

**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:** $16481513.50

**Total Liabilities:** $376165.26

**Net Assets:** $16105348.24

**Cash Not Reported:** $53947.32

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000157590 | 6.46%                | 11.35%               | 0.11%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-898.24                 | $860324.94                                 |
| Month 2  | $818.35                  | $1594680.19                                |
| Month 3  | $2018.59                 | $-40694.86                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Holcim AG                                          | HOLCIM LTD                                   | CUSIP: N/A<br>LEI: 529900EHPFPYHV6IQO98       | Long             | EC               | CORP              | CH        |      3347 | NS      | $173360.41    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| BRITISH AMERICAN TOBACCO P.L.C.                    | BRITISH AMERICAN TOBACCO PLC                 | CUSIP: N/A<br>LEI: 213800FKA5MF17RJKT63       | Long             | EC               | CORP              | GB        |      4325 | NS      | $171543.60    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| ASSICURAZIONI GENERALI SOCIETA PER AZIONI          | ASSICURAZIONI GENERALI SPA                   | CUSIP: N/A<br>LEI: 549300X5UKJVE386ZB61       | Long             | EC               | CORP              | IT        |     10330 | NS      | $183698.25    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Red Electrica Corporacion, S.A.                    | RED ELECTRICA CORP SA                        | CUSIP: N/A<br>LEI: 5493009HMD0C90GUV498       | Long             | EC               | CORP              | ES        |      9301 | NS      | $161865.59    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| S-Oil Corporation                                  | S OIL CORP                                   | CUSIP: N/A<br>LEI: 988400QTUXYDN8W3MZ32       | Long             | EC               | CORP              | KR        |      1404 | NS      | $92608.04     | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| MINI MSCI EAFE INDEX FUTURE MAR23                  | MINI MSCI EAFE INDEX FUTURE MAR23            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         1 | NC      | $-44.08       | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| UNICREDIT, SOCIETA PER AZIONI                      | UNICREDIT SPA                                | CUSIP: N/A<br>LEI: 549300TRUWO2CD2G5692       | Long             | EC               | CORP              | IT        |      7786 | NS      | $110600.00    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| OMV Aktiengesellschaft                             | OMV AG                                       | CUSIP: N/A<br>LEI: 549300V62YJ9HTLRI486       | Long             | EC               | CORP              | AT        |      2312 | NS      | $119024.75    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Takeda Pharmaceutical Company Limited              | TAKEDA PHARMACEUTICAL CO LTD                 | CUSIP: N/A<br>LEI: 549300ZLMVP4X0OGR454       | Long             | EC               | CORP              | JP        |      8000 | NS      | $250632.53    | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Enbridge Inc.                                      | ENBRIDGE INC                                 | CUSIP: 29250N105<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | EC               | CORP              | CA        |      5797 | NS      | $226604.55    | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| KEPPEL CORPORATION LIMITED                         | KEPPEL CORP LIMITED                          | CUSIP: N/A<br>LEI: 254900SQ7IPDOY6IDW33       | Long             | EC               | CORP              | SG        |     43300 | NS      | $234753.19    | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Swedbank AB                                        | SWEDBANK AB A SHARES                         | CUSIP: N/A<br>LEI: M312WZV08Y7LYUC71685       | Long             | EC               | CORP              | SE        |      9860 | NS      | $167625.01    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| WPP PLC                                            | WPP PLC                                      | CUSIP: N/A<br>LEI: 549300LSGBXPYHXGDT93       | Long             | EC               | CORP              | JE        |     12758 | NS      | $126478.98    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| KB Financial Group Inc.                            | KB FINANCIAL GROUP INC                       | CUSIP: N/A<br>LEI: 529900TKE4MXG3Q6GW86       | Long             | EC               | CORP              | KR        |      3698 | NS      | $141848.31    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Marubeni Corporation                               | MARUBENI CORP                                | CUSIP: N/A<br>LEI: 4P4N3ORD02UGQT1T1W12       | Long             | EC               | CORP              | JP        |     12400 | NS      | $143164.15    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercedes-Benz Group AG                             | Mercedes Benz Group AG                       | CUSIP: N/A<br>LEI: 529900R27DL06UVNT076       | Long             | EC               | CORP              | DE        |      1847 | NS      | $121377.90    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| IMPERIAL BRANDS PLC                                | IMPERIAL BRANDS PLC                          | CUSIP: N/A<br>LEI: 549300DFVPOB67JL3A42       | Long             | EC               | CORP              | GB        |      7586 | NS      | $189892.98    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Allianz SE                                         | ALLIANZ SE                                   | CUSIP: N/A<br>LEI: 529900K9B0N5BT694847       | Long             | EC               | CORP              | DE        |       897 | NS      | $192875.35    | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| MSILF Government Portfolio                         | MSILF GOVERNMENT-INST                        | CUSIP: 61747C707<br>LEI: N/A                  | Long             | STIV             | RF                | US        |     73638 | NS      | $73638.03     | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| YARA INTERNATIONAL ASA                             | YARA INTERNATIONAL ASA                       | CUSIP: N/A<br>LEI: 213800WKOUWXWFJ5Z514       | Long             | EC               | CORP              | NO        |      2666 | NS      | $117325.14    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| VODAFONE GROUP PUBLIC LIMITED COMPANY              | VODAFONE GROUP PLC                           | CUSIP: N/A<br>LEI: 213800TB53ELEUKM7Q61       | Long             | EC               | CORP              | GB        |    125813 | NS      | $128103.16    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| HENDERSON LAND DEVELOPMENT COMPANY LIMITED         | HENDERSON LAND DEVELOPMENT CO LTD            | CUSIP: N/A<br>LEI: 529900SYQB7IVR9QGN76       | Long             | EC               | CORP              | HK        |     54123 | NS      | $188962.43    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria, S.A.              | BANCO BILBAO VIZCAYA ARGENTARIA SA           | CUSIP: N/A<br>LEI: K8MS7FD7N5Z2WQ51AZ71       | Long             | EC               | CORP              | ES        |     23846 | NS      | $143792.66    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| TELENOR ASA                                        | TELENOR ASA                                  | CUSIP: N/A<br>LEI: 549300IM1QSBY4SLPM26       | Long             | EC               | CORP              | NO        |     18609 | NS      | $174210.94    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| PEMBINA PIPELINE CORPORATION                       | PEMBINA PIPELINE CORP                        | CUSIP: 706327103<br>LEI: 5493002W3L9YICM6FU21 | Long             | EC               | CORP              | CA        |      5314 | NS      | $180404.37    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| ABN AMRO Bank N.V.                                 | ABN AMRO GROUP NV                            | CUSIP: N/A<br>LEI: BFXS5XCH7N0Y05NIXW11       | Long             | EC               | CORP              | NL        |     10092 | NS      | $139608.59    | 0.87%             |  |  |  | Yes           |                  1 | On Loan: No      |
| BOUYGUES SA                                        | BOUYGUES                                     | CUSIP: N/A<br>LEI: 969500MOCLNQFNZN0D63       | Long             | EC               | CORP              | FR        |      7051 | NS      | $211608.49    | 1.31%             |  |  |  | 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        |     86957 | NS      | $86956.91     | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| AKER BP ASA                                        | AKER BP ASA                                  | CUSIP: N/A<br>LEI: 549300NFTY73920OYK69       | Long             | EC               | CORP              | NO        |      2421 | NS      | $75243.35     | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| POSCO Holdings Inc.                                | POSCO HOLDINGS INC                           | CUSIP: N/A<br>LEI: 988400E5HRVX81AYLM04       | Long             | EC               | CORP              | KR        |       725 | NS      | $158543.58    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| WOODSIDE ENERGY GROUP LTD                          | WOODSIDE ENERGY GROUP LTD                    | CUSIP: N/A<br>LEI: 2549005ZC5RXAOO7FH41       | Long             | EC               | CORP              | AU        |      4637 | NS      | $111862.72    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| SUMITOMO CORPORATION                               | SUMITOMO CORP                                | CUSIP: N/A<br>LEI: V82KK8NH1P0JS71FJC05       | Long             | EC               | CORP              | JP        |     11000 | NS      | $184087.79    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| NATIONAL GRID PLC                                  | NATIONAL GRID PLC                            | CUSIP: N/A<br>LEI: 8R95QZMKZLJX5Q2XR704       | Long             | EC               | CORP              | GB        |     14871 | NS      | $179277.38    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| NEWCREST MINING LIMITED                            | NEWCREST MINING LTD                          | CUSIP: N/A<br>LEI: 5299006MN50OZJUJI655       | Long             | EC               | CORP              | AU        |      9825 | NS      | $138037.41    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| INTESA SANPAOLO SPA                                | INTESA SANPAOLO SPA                          | CUSIP: N/A<br>LEI: 2W8N8UU78PMDQKZENC08       | Long             | EC               | CORP              | IT        |     57299 | NS      | $127437.41    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| GREAT-WEST LIFECO INC.                             | GREAT WEST LIFECO INC                        | CUSIP: 39138C106<br>LEI: 549300X81X4VZEESFU46 | Long             | EC               | CORP              | CA        |      9825 | NS      | $227155.05    | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| A.P. MOELLER - MAERSK A/S                          | AP MOELLER MAERSK A S                        | CUSIP: N/A<br>LEI: 549300D2K6PKKKXVNN73       | Long             | EC               | CORP              | DK        |        37 | NS      | $83209.51     | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| ENGIE SA                                           | ENGIE                                        | CUSIP: N/A<br>LEI: LAXUQCHT4FH58LRZDY46       | Long             | EC               | CORP              | FR        |     10143 | NS      | $145340.44    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Koninklijke Philips N.V.                           | KONINKLIJKE PHILIPS NV                       | CUSIP: N/A<br>LEI: H1FJE8H61JGM1JSGM897       | Long             | EC               | CORP              | NL        |      5985 | NS      | $89705.82     | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| SOCIETE GENERALE SA                                | SOCIETE GENERALE                             | CUSIP: N/A<br>LEI: O2RNE8IBXP4R0TD8PU41       | Long             | EC               | CORP              | FR        |      3892 | NS      | $97808.20     | 0.61%             |  |  |  | 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        |    100276 | NS      | $100275.80    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Randstad N.V.                                      | RANDSTAD NV                                  | CUSIP: N/A<br>LEI: 7245009EAAUUQJ0U4T57       | Long             | EC               | CORP              | NL        |      2769 | NS      | $168809.66    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| BT GROUP PLC                                       | BT GROUP PLC                                 | CUSIP: N/A<br>LEI: 213800LRO7NS5CYQMN21       | Long             | EC               | CORP              | GB        |     75062 | NS      | $101659.50    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| WESTPAC BANKING CORPORATION                        | WESTPAC BANKING CORP                         | CUSIP: N/A<br>LEI: EN5TNI6CI43VEPAMHL14       | Long             | EC               | CORP              | AU        |     12615 | NS      | $200506.61    | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| AMUNDI SA                                          | AMUNDI SA                                    | CUSIP: N/A<br>LEI: 96950010FL2T1TJKR531       | Long             | EC               | CORP              | FR        |      2380 | NS      | $135007.28    | 0.84%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Skandinaviska Enskilda Banken AB                   | SKANDINAVISK ENSKILDA BANKEN AB              | CUSIP: N/A<br>LEI: F3JS33DEI6XQ4ZBPTN86       | Long             | EC               | CORP              | SE        |     12580 | NS      | $144688.52    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| BASF SE                                            | BASF SE                                      | CUSIP: N/A<br>LEI: 529900PM64WH8AF1E917       | Long             | EC               | CORP              | DE        |      2593 | NS      | $128745.26    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Swisscom AG                                        | SWISSCOM AG                                  | CUSIP: N/A<br>LEI: 5493005SL9HHOXS3B739       | Long             | EC               | CORP              | CH        |       505 | NS      | $276755.73    | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| COMPAGNIE GENERALE DES ETABLISSEMENTS MICHELIN SCA | CIE GENERALE DES ETABLISSEMENTS MICHELIN SCA | CUSIP: N/A<br>LEI: 549300SOSI58J6VIW052       | Long             | EC               | CORP              | FR        |      5095 | NS      | $141700.47    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| AXA SA                                             | AXA SA                                       | CUSIP: N/A<br>LEI: F5WCUMTUM4RKZ1MAIE39       | Long             | EC               | CORP              | FR        |      5839 | NS      | $162829.81    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Kuehne + Nagel International AG                    | KUEHNE NAGEL INTL                            | CUSIP: N/A<br>LEI: 529900Q0YED3805QXQ66       | Long             | EC               | CORP              | CH        |       504 | NS      | $117331.03    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| SHINHAN FINANCIAL GROUP CO.,LTD                    | SHINHAN FINANCIAL GROUP CO LTD               | CUSIP: N/A<br>LEI: 988400EB8A6G49E5KO54       | Long             | EC               | CORP              | KR        |      6281 | NS      | $174858.59    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| POWER CORPORATION DU CANADA                        | POWER CORP OF CANADA                         | CUSIP: 739239101<br>LEI: 549300BE2CB8T87IJV50 | Long             | EC               | CORP              | CA        |      8631 | NS      | $203056.10    | 1.26%             |  |  |  | No            |                  1 | On Loan: —       |
| Koninklijke KPN N.V.                               | KONINKLIJKE KPN NV                           | CUSIP: N/A<br>LEI: 549300YO0JZHAL7FVP81       | Long             | EC               | CORP              | NL        |     76762 | NS      | $237437.05    | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| RIO TINTO PLC                                      | RIO TINTO PLC                                | CUSIP: N/A<br>LEI: 213800YOEO5OQ72G2R82       | Long             | EC               | CORP              | GB        |      2181 | NS      | $152844.51    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| JAPAN TOBACCO INC.                                 | JAPAN TOBACCO INC                            | CUSIP: N/A<br>LEI: 353800Z0ENYBQO0XRJ31       | Long             | EC               | CORP              | JP        |     13100 | NS      | $265653.86    | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| KBC GROEP NV                                       | KBC GROUP NV                                 | CUSIP: N/A<br>LEI: 213800X3Q9LSAKRUWY91       | Long             | EC               | CORP              | BE        |      2206 | NS      | $141853.41    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| INVESCO GOVERNMENT & AGENCY PORTFOLIO              | INVESCO GVT & AGNCY-INST                     | CUSIP: 825252885<br>LEI: N/A                  | Long             | STIV             | RF                | US        |     86957 | NS      | $86956.91     | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP PARIBAS SA                                     | BNP PARIBAS                                  | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | Long             | EC               | CORP              | FR        |      2291 | NS      | $130571.70    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| ICL GROUP LTD                                      | ISRAEL CHEMICALS LTD                         | CUSIP: N/A<br>LEI: 529900FQVQD88SHIGM04       | Long             | EC               | CORP              | IL        |      9518 | NS      | $69010.31     | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| RIO TINTO LIMITED                                  | RIO TINTO LIMITED                            | CUSIP: N/A<br>LEI: 529900X2VMAQT2PE0V24       | Long             | EC               | CORP              | AU        |      1945 | NS      | $154121.93    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Bayerische Motoren Werke Aktiengesellschaft        | BAYERISCHE MOTOREN WERKE BMW AG              | CUSIP: N/A<br>LEI: YEH5ZCD6E441RHVHD759       | Long             | EC               | CORP              | DE        |      1551 | NS      | $138413.37    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Endesa, Sociedad Anonima                           | ENDESA SA                                    | CUSIP: N/A<br>LEI: 549300LHK07F2CHV4X31       | Long             | EC               | CORP              | ES        |      9157 | NS      | $172835.54    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Post AG                                   | DEUTSCHE POST AG                             | CUSIP: N/A<br>LEI: 8ER8GIG7CSMVD8VUFE78       | Long             | EC               | CORP              | DE        |      3188 | NS      | $120037.93    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Erste Group Bank AG                                | ERSTE GROUP BANK AG                          | CUSIP: N/A<br>LEI: PQOH26KWDF7CG10L6792       | Long             | EC               | CORP              | AT        |      3551 | NS      | $113638.69    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Swiss Re AG                                        | SWISS RE AG                                  | CUSIP: N/A<br>LEI: 529900PS9YW3YY29F326       | Long             | EC               | CORP              | CH        |      1985 | NS      | $185701.86    | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| NIPPON STEEL CORPORATION                           | NIPPON STEEL CORP                            | CUSIP: N/A<br>LEI: 35380065QWQ4U2V3PA33       | Long             | EC               | CORP              | JP        |      7600 | NS      | $132748.06    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Vonovia SE                                         | VONOVIA SE                                   | CUSIP: N/A<br>LEI: 5299005A2ZEP6AP7KM81       | Long             | EC               | CORP              | DE        |      4230 | NS      | $99692.40     | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| EMERA INCORPORATED                                 | EMERA INC                                    | CUSIP: 290876101<br>LEI: NQZVQT2P5IUF2PGA1Q48 | Long             | EC               | CORP              | CA        |      6275 | NS      | $239866.49    | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| NN Group N.V.                                      | NN GROUP NV                                  | CUSIP: N/A<br>LEI: 724500OHYNDT9OY6Q215       | Long             | EC               | CORP              | NL        |      2876 | NS      | $117463.14    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| ORANGE SA                                          | ORANGE SA                                    | CUSIP: N/A<br>LEI: 969500MCOONR8990S771       | Long             | EC               | CORP              | FR        |     26758 | NS      | $265798.66    | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| MANULIFE FINANCIAL CORP                            | MANULIFE FINANCIAL CORP                      | CUSIP: 56501R106<br>LEI: 5493007GBX87QOZACS27 | Long             | EC               | CORP              | CA        |      9396 | NS      | $167612.20    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| HeidelbergCement AG                                | HEIDELBERGCEMENT AG                          | CUSIP: N/A<br>LEI: LZ2C6E0W5W7LQMX5ZI37       | Long             | EC               | CORP              | DE        |      2616 | NS      | $149178.53    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Galp Energia, SGPS, S.A.                           | GALP ENERGIA SGPS SA                         | CUSIP: N/A<br>LEI: 2138003319Y7NM75FG53       | Long             | EC               | CORP              | PT        |      9643 | NS      | $130146.23    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| E.ON SE                                            | E ON SE                                      | CUSIP: N/A<br>LEI: Q9MAIUP40P25UFBFG033       | Long             | EC               | CORP              | DE        |     16020 | NS      | $160042.26    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| SoftBank Corp.                                     | SOFTBANK CORP                                | CUSIP: N/A<br>LEI: 353800M1YCTS9JRBJ535       | Long             | EC               | CORP              | JP        |     23000 | NS      | $260813.90    | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| THE HONG KONG AND CHINA GAS COMPANY LIMITED        | HONG KONG CHINA GAS CO LTD                   | CUSIP: N/A<br>LEI: 254900P7BETXGC7YU827       | Long             | EC               | CORP              | HK        |    169000 | NS      | $160663.68    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Nordea Bank Abp                                    | NORDEA BANK ABP                              | CUSIP: N/A<br>LEI: 529900ODI3047E2LIV03       | Long             | EC               | CORP              | FI        |     15084 | NS      | $161526.99    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Nippon Yusen Kabushiki Kaisha                      | NIPPON YUSEN KK                              | CUSIP: N/A<br>LEI: 353800YPW4XM0ZN5I149       | Long             | EC               | CORP              | JP        |      3300 | NS      | $78212.16     | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| TotalEnergies SE                                   | TOTALENERGIES SE                             | CUSIP: N/A<br>LEI: 529900S21EQ1BO4ESM68       | Long             | EC               | CORP              | FR        |      2391 | NS      | $150090.07    | 0.93%             |  |  |  | No            |                  1 | On Loan: —       |
| KONE Oyj                                           | KONE OYJ                                     | CUSIP: N/A<br>LEI: 2138001CNF45JP5XZK38       | Long             | EC               | CORP              | FI        |      3360 | NS      | $173696.38    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Telia Company AB                                   | TELIA CO AB                                  | CUSIP: N/A<br>LEI: 213800FSR9RNDUOTXO25       | Long             | EC               | CORP              | SE        |     60010 | NS      | $153404.09    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| BHP GROUP LIMITED                                  | BHP GROUP LIMITED                            | CUSIP: N/A<br>LEI: WZE1WSENV6JSZFK0JC28       | Long             | EC               | CORP              | AU        |      4483 | NS      | $139243.12    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Svenska Handelsbanken AB                           | SVENSKA HANDELSBANKEN AB                     | CUSIP: N/A<br>LEI: NHBDILHZTYCNBV5UYZ31       | Long             | EC               | CORP              | SE        |     18675 | NS      | $188198.65    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| TESCO PLC                                          | TESCO PLC                                    | CUSIP: N/A<br>LEI: 2138002P5RNKC5W2JZ46       | Long             | EC               | CORP              | GB        |     69822 | NS      | $189209.90    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| SSE PLC                                            | SSE PLC                                      | CUSIP: N/A<br>LEI: 549300KI75VYLLMSK856       | Long             | EC               | CORP              | GB        |      7632 | NS      | $157927.62    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| TELUS Corporation                                  | TELUS CORP                                   | CUSIP: 87971M103<br>LEI: L2TEUTQ8OSHMJWVLCE40 | Long             | EC               | CORP              | CA        |     11149 | NS      | $215189.37    | 1.34%             |  |  |  | No            |                  1 | On Loan: —       |
| POSTE ITALIANE - SOCIETA PER AZIONI                | POSTE ITALIANE SPA                           | CUSIP: N/A<br>LEI: 815600354DEDBD0BA991       | Long             | EC               |  | IT        |     15168 | NS      | $148153.92    | 0.92%             |  |  |  | Yes           |                  1 | On Loan: No      |
| ANGLO AMERICAN PLC                                 | ANGLO AMERICAN PLC                           | CUSIP: N/A<br>LEI: 549300S9XF92D1X8ME43       | Long             | EC               | CORP              | GB        |      2917 | NS      | $114111.14    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| VEOLIA ENVIRONNEMENT SA                            | VEOLIA ENVIRONNEMENT                         | CUSIP: N/A<br>LEI: 969500LENY69X51OOT31       | Long             | EC               | CORP              | FR        |      4609 | NS      | $118391.99    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| UNILEVER PLC                                       | UNILEVER PLC                                 | CUSIP: N/A<br>LEI: 549300MKFYEKVRWML317       | Long             | EC               | CORP              | GB        |      3210 | NS      | $162257.60    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| ENEOS Holdings, Inc.                               | ENEOS HOLDINGS INC                           | CUSIP: N/A<br>LEI: 3538001KQ5SAOZSQTT44       | Long             | EC               | CORP              | JP        |     42800 | NS      | $146124.07    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| TC Energy Corporation                              | TC ENERGY CORP                               | CUSIP: 87807B107<br>LEI: 549300UGKOFV2IWJJG27 | Long             | EC               | CORP              | CA        |      4082 | NS      | $162761.38    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| BCE Inc.                                           | BCE INC                                      | CUSIP: 05534B760<br>LEI: 5493001I9203PRB5KR45 | Long             | EC               | CORP              | CA        |      5737 | NS      | $252100.85    | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| GSK PLC                                            | GSK PLC                                      | CUSIP: N/A<br>LEI: 5493000HZTVUYLO1D793       | Long             | EC               | CORP              | GB        |     10043 | NS      | $174508.87    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| SWIRE PACIFIC LIMITED                              | SWIRE PACIFIC LTD CL A                       | CUSIP: N/A<br>LEI: 549300KZOZHII0DGF611       | Long             | EC               | CORP              | HK        |     19000 | NS      | $167238.95    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| EVRAZ PLC                                          | EVRAZ PLC                                    | CUSIP: N/A<br>LEI: 5493005B7DAN39RXLK23       | Long             | EC               | CORP              | GB        |     23292 | NS      | $11401.91     | 0.07%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ANZ GROUP HOLDINGS LIMITED                         | ANZ GROUP HOLDINGS LTD                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |     12315 | NS      | $198336.99    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| ALGONQUIN POWER & UTILITIES CORP.                  | ALGONQUIN POWER UTILITIES                    | CUSIP: 015857105<br>LEI: 549300K5VIUTJXQL7X75 | Long             | EC               | CORP              | CA        |     18975 | NS      | $123622.03    | 0.77%             |  |  |  | No            |                  1 | On Loan: —       |
| CREDIT AGRICOLE SA                                 | CREDIT AGRICOLE SA                           | CUSIP: N/A<br>LEI: 969500TJ5KRTCJQWXH05       | Long             | EC               | CORP              | FR        |     12161 | NS      | $127959.15    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| ENI S.P.A.                                         | ENI SPA                                      | CUSIP: N/A<br>LEI: BUCRF72VH5RBN7X3VL35       | Long             | EC               | CORP              | IT        |     10839 | NS      | $154130.22    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Telefonica S.A.                                    | TELEFONICA S A                               | CUSIP: 879382109<br>LEI: 549300EEJH4FEPDBBR25 | Long             | EC               | CORP              | ES        |     43455 | NS      | $157435.55    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| ENEL - SPA                                         | ENEL SPA                                     | CUSIP: N/A<br>LEI: WOCMU6HCI0OJWNPRZS33       | Long             | EC               | CORP              | IT        |     29851 | NS      | $160705.68    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Evonik Industries AG                               | EVONIK INDUSTRIES AG                         | CUSIP: N/A<br>LEI: 41GUOJQTALQHLF39XJ34       | Long             | EC               | CORP              | DE        |      6791 | NS      | $130358.54    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| CK HUTCHISON HOLDINGS LIMITED                      | CK HUTCHISON HOLDINGS                        | CUSIP: N/A<br>LEI: 254900Z8HM1VEPOQ2G79       | Long             | EC               | CORP              | KY        |     30527 | NS      | $183240.22    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| SNAM S.P.A.                                        | SNAM SPA                                     | CUSIP: N/A<br>LEI: 8156002278562044AF79       | Long             | EC               | CORP              | IT        |     41886 | NS      | $202947.51    | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-30

**Name of Applicant:** Victory Portfolios II

**Signature:** Allan Shaer

**Name of Signer:** Allan Shaer

**Title:** Treasurer