# EDGAR Filing Document

**Accession Number:** 0002042317
**File Stem:** 0001752724-25-209139
**Filing Date:** 2025-8
**Character Count:** 24213
**Document Hash:** f06c16f2a71c2baee1ea08d20907338b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-209139.hdr.sgml**: 20250827

**ACCESSION NUMBER**: 0001752724-25-209139

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250827

**DATE AS OF CHANGE**: 20250827

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Victory Variable Insurance Funds II
- **CENTRAL INDEX KEY:** 0002042317

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-24018
- **FILM NUMBER:** 251264039

**BUSINESS ADDRESS:**
- **STREET 1:** 15935 LA CANTERA PARKWAY
- **CITY:** SAN ANTONIO
- **STATE:** TX
- **ZIP:** 78256
- **BUSINESS PHONE:** (210) 697-3624

**MAIL ADDRESS:**
- **STREET 1:** 15935 LA CANTERA PARKWAY
- **CITY:** SAN ANTONIO
- **STATE:** TX
- **ZIP:** 78256

## Series and Classes Contracts Data

### Victory Pioneer Mid Cap Value VCT Portfolio (Series ID: S000089716)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000256349 | Class I      |  |
| C000256350 | Class II     |  |

## 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 Variable insurance Funds II

- **b. Investment Company Act file number:** 811-24018

- **c. CIK number of Registrant:** 0002042317

- **d. LEI of Registrant:** 2549008Q8LHE6TN5VU40

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

  - **Street Address 1:** 15935 LA CANTERA PARKWAY

  - **City:** SAN ANTONIO

  - **State:** TX

  - **Foreign country:** US

  - **Zip / Postal Code:** 78256

  - **Telephone number:** 210-697-3624

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

- **a. Name of Series:** Victory Pioneer Mid Cap Value VCT Portfolio

- **b. EDGAR series identifier (if any):** S000089716

- **c. LEI of Series:** 549300ECR7V7XG98BF58

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

- **a. Date of fiscal year-end:** 2025-12-31

- **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:** $100656262.64

**Total Liabilities:** $102640.57

**Net Assets:** $100553622.07

**Cash Not Reported:** $14279.14

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000256350 | -5.98%               | 4.08%                | 3.81%                |
| Class ID C000256349 | -5.97%               | 4.02%                | 3.85%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1504672.19             | $-4635339.66                               |
| Month 2  | $0.00                    | $3611071.54                                |
| Month 3  | $614410.41               | $2907375.66                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| State Street Corp                  | State Street Corp                   | CUSIP: 857477103<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EC               | CORP              | US        |     39112 | NS      | $4159170.08   | 4.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Fox Corp                           | Fox Corp                            | CUSIP: 35137L105<br>LEI: 549300DDU6FDRBIELS05 | Long             | EC               | CORP              | US        |     39287 | NS      | $2201643.48   | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelon Corp                        | Exelon Corp                         | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |     32913 | NS      | $1429082.46   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Digital Corp               | Western Digital Corp                | CUSIP: 958102105<br>LEI: 549300QQXOOYEF89IC56 | Long             | EC               | CORP              | US        |     21101 | NS      | $1350252.99   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Rockwell Automation Inc            | Rockwell Automation Inc             | CUSIP: 773903109<br>LEI: VH3R4HHBHH12O0EXZJ88 | Long             | EC               | CORP              | US        |      7060 | NS      | $2345120.20   | 2.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Humana Inc                         | Humana Inc                          | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |      2041 | NS      | $498983.68    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| First Industrial Realty Trust      | First Industrial Realty Trust Inc   | CUSIP: 32054K103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17653 | NS      | $849638.89    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Zoom Communications Inc            | Zoom Communications Inc             | CUSIP: 98980L101<br>LEI: 549300T9GCHU0ODOM055 | Long             | EC               | CORP              | US        |      9924 | NS      | $773873.52    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| HP Inc                             | HP Inc                              | CUSIP: 40434L105<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | EC               | CORP              | US        |     47253 | NS      | $1155808.38   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| JB Hunt Transport Services Inc     | JB Hunt Transport Services Inc      | CUSIP: 445658107<br>LEI: 549300XCD1MPI1C5GK90 | Long             | EC               | CORP              | US        |      9649 | NS      | $1385596.40   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| DR Horton Inc                      | DR Horton Inc                       | CUSIP: 23331A109<br>LEI: 529900ZIUEYVSB8QDD25 | Long             | EC               | CORP              | US        |      8789 | NS      | $1133077.88   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Trust Corp                | Northern Trust Corp                 | CUSIP: 665859104<br>LEI: 549300GLF98S992BC502 | Long             | EC               | CORP              | US        |     21909 | NS      | $2777842.11   | 2.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Lear Corp                          | Lear Corp                           | CUSIP: 521865204<br>LEI: 549300UPNBTXA1SYTQ33 | Long             | EC               | CORP              | US        |      6723 | NS      | $638550.54    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Motorola Solutions Inc             | Motorola Solutions Inc              | CUSIP: 620076307<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | EC               | CORP              | US        |      3981 | NS      | $1673851.26   | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Gaming and Leisure Properties      | Gaming and Leisure Properties Inc   | CUSIP: 36467J108<br>LEI: 5493006GWRDBCZYWTM57 | Long             | EC               | CORP              | US        |     27790 | NS      | $1297237.20   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| M&T Bank Corp                      | M&T Bank Corp                       | CUSIP: 55261F104<br>LEI: 549300WYXDDBYRASEG81 | Long             | EC               | CORP              | US        |     14604 | NS      | $2833029.96   | 2.82%             |  |  |  | No            |                  1 | On Loan: No      |
| NetApp Inc                         | NetApp Inc                          | CUSIP: 64110D104<br>LEI: QTX3D84DZDD5JYOCYH15 | Long             | EC               | CORP              | US        |      9435 | NS      | $1005299.25   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Generac Holdings Inc               | Generac Holdings Inc                | CUSIP: 368736104<br>LEI: 529900S2H2AHJHSFFI84 | Long             | EC               | CORP              | US        |      3682 | NS      | $527299.22    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| AGCO Corp                          | AGCO Corp                           | CUSIP: 001084102<br>LEI: LYOM0B2GCF1JWXK5ZG04 | Long             | EC               | CORP              | US        |     20429 | NS      | $2107455.64   | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Old Republic International Cor     | Old Republic International Corp     | CUSIP: 680223104<br>LEI: 549300IV6O2YY2A1KH37 | Long             | EC               | CORP              | US        |     33530 | NS      | $1288893.20   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| American International Group I     | American International Group Inc    | CUSIP: 026874784<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | EC               | CORP              | US        |     37660 | NS      | $3223319.40   | 3.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Extra Space Storage Inc            | Extra Space Storage Inc             | CUSIP: 30225T102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8112 | NS      | $1196033.28   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Dover Corp                         | Dover Corp                          | CUSIP: 260003108<br>LEI: 549300FMC2ALGA7N9E80 | Long             | EC               | CORP              | US        |      5014 | NS      | $918715.22    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Delta Air Lines Inc                | Delta Air Lines Inc                 | CUSIP: 247361702<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | EC               | CORP              | US        |     16502 | NS      | $811568.36    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Molson Coors Beverage Co           | Molson Coors Beverage Co            | CUSIP: 60871R209<br>LEI: 54930073LBBH6ZCBE225 | Long             | EC               | CORP              | US        |     27791 | NS      | $1336469.19   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthpeak Properties Inc          | Healthpeak Properties Inc           | CUSIP: 42250P103<br>LEI: 254900M6MTMZM0I22L81 | Long             | EC               | CORP              | US        |     29749 | NS      | $520904.99    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| eBay Inc                           | eBay Inc                            | CUSIP: 278642103<br>LEI: OML71K8X303XQONU6T67 | Long             | EC               | CORP              | US        |     32575 | NS      | $2425534.50   | 2.41%             |  |  |  | No            |                  1 | On Loan: No      |
| PPG Industries Inc                 | PPG Industries Inc                  | CUSIP: 693506107<br>LEI: 549300BKPEP01R3V6C59 | Long             | EC               | CORP              | US        |      9006 | NS      | $1024432.50   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Target Corp                        | Target Corp                         | CUSIP: 87612E106<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | EC               | CORP              | US        |      9705 | NS      | $957398.25    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| The Campbell's Company             | The Campbell's Company              | CUSIP: 134429109<br>LEI: 5493007JDSMX8Z5Z1902 | Long             | EC               | CORP              | US        |     19544 | NS      | $599023.60    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Brink's Co/The                     | Brink's Co/The                      | CUSIP: 109696104<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | EC               | CORP              | US        |      9879 | NS      | $882095.91    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| CenterPoint Energy Inc             | CenterPoint Energy Inc              | CUSIP: 15189T107<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | EC               | CORP              | US        |     65536 | NS      | $2407792.64   | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Baker Hughes Co                    | Baker Hughes Co                     | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     37400 | NS      | $1433916.00   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Service Enterprise Grou     | Public Service Enterprise Group Inc | CUSIP: 744573106<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | EC               | CORP              | US        |     24737 | NS      | $2082360.66   | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Whirlpool Corp                     | Whirlpool Corp                      | CUSIP: 963320106<br>LEI: WHENKOULSSK7WUM60H03 | Long             | EC               | CORP              | US        |     17357 | NS      | $1760346.94   | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| GE HealthCare Technologies Inc     | GE HealthCare Technologies Inc      | CUSIP: 36266G107<br>LEI: 549300OI9J7XOWZMUN85 | Long             | EC               | CORP              | US        |     29827 | NS      | $2209285.89   | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Coterra Energy Inc                 | Coterra Energy Inc                  | CUSIP: 127097103<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | EC               | CORP              | US        |    130809 | NS      | $3319932.42   | 3.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Hershey Co/The                     | Hershey Co/The                      | CUSIP: 427866108<br>LEI: 21X2CX66SU2BR6QTAD08 | Long             | EC               | CORP              | US        |      4189 | NS      | $695164.55    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Warner Bros Discovery Inc          | Warner Bros Discovery Inc           | CUSIP: 934423104<br>LEI: 5493006ZCRFWKF6B1K26 | Long             | EC               | CORP              | US        |    145055 | NS      | $1662330.30   | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| CDW Corp/DE                        | CDW Corp/DE                         | CUSIP: 12514G108<br>LEI: 9845001B052ABF0B6755 | Long             | EC               | CORP              | US        |      6863 | NS      | $1225663.17   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Genuine Parts Co                   | Genuine Parts Co                    | CUSIP: 372460105<br>LEI: 549300D46DQVEU651W04 | Long             | EC               | CORP              | US        |     13270 | NS      | $1609783.70   | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Zimmer Biomet Holdings Inc         | Zimmer Biomet Holdings Inc          | CUSIP: 98956P102<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | EC               | CORP              | US        |     24948 | NS      | $2275507.08   | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Range Resources Corp               | Range Resources Corp                | CUSIP: 75281A109<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | EC               | CORP              | US        |     42033 | NS      | $1709482.11   | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Kimco Realty Corp                  | Kimco Realty Corp                   | CUSIP: 49446R109<br>LEI: 254900ARY41P4V1JL861 | Long             | EC               | CORP              | US        |     52222 | NS      | $1097706.44   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Emerson Electric Co                | Emerson Electric Co                 | CUSIP: 291011104<br>LEI: FGLT0EWZSUIRRITFOA30 | Long             | EC               | CORP              | US        |      8852 | NS      | $1180237.16   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| WESCO International Inc            | WESCO International Inc             | CUSIP: 95082P105<br>LEI: 529900TXOGREY3WNJ434 | Long             | EC               | CORP              | US        |      6274 | NS      | $1161944.80   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Ford Motor Co                      | Ford Motor Co                       | CUSIP: 345370860<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | EC               | CORP              | US        |     91395 | NS      | $991635.75    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Regions Financial Corp             | Regions Financial Corp              | CUSIP: 7591EP100<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EC               | CORP              | US        |    121647 | NS      | $2861137.44   | 2.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Kenvue Inc                         | Kenvue Inc                          | CUSIP: 49177J102<br>LEI: 5493008HSF8L4M2LIJ82 | Long             | EC               | CORP              | US        |    107529 | NS      | $2250581.97   | 2.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Raymond James Financial Inc        | Raymond James Financial Inc         | CUSIP: 754730109<br>LEI: RGUZHJ05YTITL6D76949 | Long             | EC               | CORP              | US        |     24771 | NS      | $3799128.27   | 3.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingersoll Rand Inc                 | Ingersoll Rand Inc                  | CUSIP: 45687V106<br>LEI: 5299004C02FMZCUOIR50 | Long             | EC               | CORP              | US        |      9178 | NS      | $763426.04    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Truist Financial Corp              | Truist Financial Corp               | CUSIP: 89832Q109<br>LEI: 549300DRQQI75D2JP341 | Long             | EC               | CORP              | US        |     55374 | NS      | $2380528.26   | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| LyondellBasell Industries NV       | LyondellBasell Industries NV        | CUSIP: 000000000<br>LEI: BN6WCCZ8OVP3ITUUVN49 | Long             | EC               | CORP              | US        |     20578 | NS      | $1190643.08   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Graphic Packaging Holding Co       | Graphic Packaging Holding Co        | CUSIP: 388689101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     50881 | NS      | $1072062.67   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Host Hotels & Resorts Inc          | Host Hotels & Resorts Inc           | CUSIP: 44107P104<br>LEI: N6EL63S0K3PB1YFTDI24 | Long             | EC               | CORP              | US        |     47731 | NS      | $733148.16    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| AerCap Holdings NV                 | AerCap Holdings NV                  | CUSIP: 000000000<br>LEI: 549300SZYINBBLJQU475 | Long             | EC               | CORP              | IE        |     14878 | NS      | $1740726.00   | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Citizens Financial Group Inc       | Citizens Financial Group Inc        | CUSIP: 174610105<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EC               | CORP              | US        |     43350 | NS      | $1939912.50   | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| AvalonBay Communities Inc          | AvalonBay Communities Inc           | CUSIP: 053484101<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | EC               | CORP              | US        |      7995 | NS      | $1626982.50   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Valero Energy Corp                 | Valero Energy Corp                  | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |      3807 | NS      | $511736.94    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Eversource Energy                  | Eversource Energy                   | CUSIP: 30040W108<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | EC               | CORP              | US        |     33353 | NS      | $2121917.86   | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Expedia Group Inc                  | Expedia Group Inc                   | CUSIP: 30212P303<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10122 | NS      | $1707378.96   | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Dreyfus Government Cash Management | Dreyfus Government Cash Management  | CUSIP: 262006208<br>LEI: 5493000Q69I5Q3QZIA91 | Long             | STIV             | RF                | US        |    141572 | NS      | $141571.98    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Sysco Corp                         | Sysco Corp                          | CUSIP: 871829107<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | EC               | CORP              | US        |     24068 | NS      | $1822910.32   | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Chord Energy Corp                  | Chord Energy Corp                   | CUSIP: 674215207<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | EC               | CORP              | US        |     17540 | NS      | $1698749.00   | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-27

**Name of Applicant:** Victory Variable insurance Funds II

**Signature:** Carol Trevino

**Name of Signer:** Carol Trevino

**Title:** Treasurer