# EDGAR Filing Document

**Accession Number:** 0001547580
**File Stem:** 0001004726-25-002174
**Filing Date:** 2025-11
**Character Count:** 38415
**Document Hash:** f6ace9a8b14671ef995b0eadc7c0a65c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001004726-25-002174.hdr.sgml**: 20251125

**ACCESSION NUMBER**: 0001004726-25-002174

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251125

**DATE AS OF CHANGE**: 20251125

**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:** 251520110

**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:** 2025-09-30

**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:** $97706141.12

**Total Liabilities:** $50910.60

**Net Assets:** $97655230.52

**Cash Not Reported:** $860710.89

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000261505 | -0.01%               | 6.04%                | 1.44%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-126.17                 | $-516126.08                                |
| Month 2  | $-68.49                  | $2951238.40                                |
| Month 3  | $1386440.24              | $-655801.17                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| INPEX CORPORATION                                  | INPEX CORP                                     | CUSIP: N/A<br>LEI: 353800VHYYADPR6MXQ47       | Long             | EC               | CORP              | JP        |     64600 | NS      | $1167754.11   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Heidelberg Materials AG                            | HEIDELBERG MATERIALS AG                        | CUSIP: N/A<br>LEI: LZ2C6E0W5W7LQMX5ZI37       | Long             | EC               | CORP              | DE        |      4592 | NS      | $1032561.22   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| AUTOLIV, INC.                                      | AUTOLIV INC                                    | CUSIP: 052800109<br>LEI: A23RUXWKASG834LTMK28 | Long             | EC               | CORP              | US        |      4666 | NS      | $576251.00    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Continental Aktiengesellschaft                     | CONTINENTAL AG                                 | CUSIP: N/A<br>LEI: 529900A7YD9C0LLXM621       | Long             | EC               | CORP              | DE        |      8322 | NS      | $548248.12    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| KOMATSU LTD.                                       | KOMATSU LIMITED                                | CUSIP: N/A<br>LEI: 5493004LQ0B4T7QPQV17       | Long             | EC               | CORP              | JP        |     31700 | NS      | $1106187.87   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| VINCI SA                                           | VINCI SA                                       | CUSIP: N/A<br>LEI: 213800WFQ334R8UXUG83       | Long             | EC               | CORP              | FR        |     11740 | NS      | $1625540.58   | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| GENMAB A/S                                         | GENMAB A S                                     | CUSIP: N/A<br>LEI: 529900MTJPDPE4MHJ122       | Long             | EC               | CORP              | DK        |      4813 | NS      | $1459322.25   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Daimler Truck Holding AG                           | DAIMLER TRUCK HOLDING AG                       | CUSIP: N/A<br>LEI: 529900PW78JIYOUBSR24       | Long             | EC               | CORP              | DE        |     23392 | NS      | $961646.09    | 0.98%             |  |  |  | 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        |     40245 | NS      | $1442821.94   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| ENDEAVOUR MINING PLC                               | ENDEAVOUR MINING PLC                           | CUSIP: N/A<br>LEI: 529900NI5MXQ91GHXR07       | Long             | EC               | CORP              | GB        |     27538 | NS      | $1147941.26   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| BP P.L.C.                                          | BP PLC                                         | CUSIP: N/A<br>LEI: 213800LH1BZH3DI6G760       | Long             | EC               | CORP              | GB        |    381781 | NS      | $2185720.10   | 2.24%             |  |  |  | No            |                  1 | On Loan: No      |
| SPIE SA                                            | SPIE SA                                        | CUSIP: N/A<br>LEI: 969500TJNS5GSFWJ8X85       | Long             | EC               | CORP              | FR        |     10608 | NS      | $570335.97    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Yokogawa Electric Corporation                      | YOKOGAWA ELECTRIC CORP                         | CUSIP: N/A<br>LEI: 529900MV0U7C9WWF4L22       | Long             | EC               | CORP              | JP        |     14300 | NS      | $411486.44    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| CCL INDUSTRIES INC.                                | CCL INDUSTRIES INC                             | CUSIP: 124900309<br>LEI: 549300TD3EMSRRC0YH75 | Long             | EC               | CORP              | CA        |      7729 | NS      | $435690.09    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| COMPAGNIE PETROLIERE IMPERIALE LTEE                | IMPERIAL OIL LTD                               | CUSIP: 453038408<br>LEI: 549300JZNB745JT5WY51 | Long             | EC               | CORP              | CA        |     15488 | NS      | $1404549.57   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| KINROSS GOLD CORPORATION                           | KINROSS GOLD CORP                              | CUSIP: 496902404<br>LEI: 254900O9KHF2A1ZXPT47 | Long             | EC               | CORP              | CA        |     58279 | NS      | $1448233.15   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Magna International Inc.                           | MAGNA INTERNATIONAL INC                        | CUSIP: 559222401<br>LEI: 95RWVLFZX6VGDZNNTN43 | Long             | EC               | CORP              | CA        |     20079 | NS      | $951343.02    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| SUBARU CORPORATION                                 | SUBARU CORP                                    | CUSIP: N/A<br>LEI: 549300N244BVAEE6HH86       | Long             | EC               | CORP              | JP        |     36100 | NS      | $739724.08    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Pandora A/S                                        | PANDORA A S                                    | CUSIP: N/A<br>LEI: 5299007OWYZ6I1E46843       | Long             | EC               | CORP              | DK        |      6261 | NS      | $815877.11    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Evolution AB (publ)                                | EVOLUTION AB                                   | CUSIP: N/A<br>LEI: 549300SUH6ZR1RF6TA88       | Long             | EC               | CORP              | SE        |     15224 | NS      | $1251274.37   | 1.28%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Dai Nippon Printing Co., Ltd.                      | DAI NIPPON PRINTING CO LTD                     | CUSIP: N/A<br>LEI: 529900S7NFNQ4FT6OP83       | Long             | EC               | CORP              | JP        |     42800 | NS      | $728094.95    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| ANHEUSER-BUSCH INBEV SA                            | ANHEUSER BUSCH INBEV SA NV                     | CUSIP: N/A<br>LEI: 5493008H3828EMEXB082       | Long             | EC               | CORP              | BE        |     33696 | NS      | $2009434.41   | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| IPSEN SA                                           | IPSEN SA                                       | CUSIP: N/A<br>LEI: 549300M6SGDPB4Z94P11       | Long             | EC               | CORP              | FR        |      4215 | NS      | $562092.36    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| TECHNIPFMC PLC                                     | TECHNIPFMC PLC                                 | CUSIP: G87110105<br>LEI: 549300D5I93QWCJTCK36 | Long             | EC               | CORP              | GB        |     24953 | NS      | $984395.85    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| TECHTRONIC INDUSTRIES COMPANY LIMITED              | TECHTRONIC INDUSTRIES CO                       | CUSIP: N/A<br>LEI: 549300HZW2SBE758OK89       | Long             | EC               | CORP              | HK        |     76743 | NS      | $981760.50    | 1.01%             |  |  |  | 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        |    336557 | NS      | $1751016.15   | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLICIS GROUPE S.A.                               | PUBLICIS GROUPE                                | CUSIP: N/A<br>LEI: 2138004KW8BV57III342       | Long             | EC               | CORP              | FR        |     18654 | NS      | $1788625.74   | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| SODEXO SA                                          | SODEXO SA                                      | CUSIP: N/A<br>LEI: 969500LCBOG12HXPYM84       | Long             | EC               | CORP              | FR        |      6385 | NS      | $401376.69    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| MatsukiyoCocokara & Co.                            | MATSUKIYOCOCOKARA CO                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |     15300 | NS      | $310821.67    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| UNICHARM CORPORATION                               | UNICHARM CORP                                  | CUSIP: N/A<br>LEI: 353800UQ4BZIJTAQEG85       | Long             | EC               | CORP              | JP        |     59700 | NS      | $387341.45    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| COMPUTERSHARE LIMITED                              | COMPUTERSHARE LTD                              | CUSIP: N/A<br>LEI: 21380085HOKTMGLV9G93       | Long             | EC               | CORP              | AU        |     29731 | NS      | $713715.50    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| DENSO CORPORATION                                  | DENSO CORP                                     | CUSIP: N/A<br>LEI: 549300RYPA10CQM3QK38       | Long             | EC               | CORP              | JP        |    199400 | NS      | $2879682.83   | 2.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Shionogi & Co., Ltd.                               | SHIONOGI CO LTD                                | CUSIP: N/A<br>LEI: 35380049VXDTHZI3DY35       | Long             | EC               | CORP              | JP        |     46300 | NS      | $811432.00    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| ACS, Actividades de Construccion y Servicios, S.A. | ACS ACTIVIDADES DE CONSTRUCCION Y SERVICIOS SA | CUSIP: N/A<br>LEI: 95980020140005558665       | Long             | EC               | CORP              | ES        |     10459 | NS      | $834893.06    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Kawasaki Kisen Kaisha, Ltd.                        | KAWASAKI KISEN KAISHA LTD                      | CUSIP: N/A<br>LEI: 353800FL04R73DS5P870       | Long             | EC               | CORP              | JP        |     67900 | NS      | $967048.08    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| SANTOS LIMITED                                     | SANTOS LTD                                     | CUSIP: N/A<br>LEI: 5299000RK70B5O2M7077       | Long             | EC               | CORP              | AU        |    153178 | NS      | $681930.48    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Astellas Pharma Inc.                               | ASTELLAS PHARMA INC                            | CUSIP: N/A<br>LEI: 529900IB708DY2HBBB35       | Long             | EC               | CORP              | JP        |    103200 | NS      | $1117005.48   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Buzzi SpA                                          | BUZZI UNICEM SPA                               | CUSIP: N/A<br>LEI: 5299003DX5YLKSVJ6K59       | Long             | EC               | CORP              | IT        |      8500 | NS      | $466579.02    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| SUZUKI MOTOR CORPORATION                           | SUZUKI MOTOR CO                                | CUSIP: N/A<br>LEI: 353800D83H0V3ZV1SV24       | Long             | EC               | CORP              | JP        |     58100 | NS      | $848887.87    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Open Text Corporation                              | OPEN TEXT CORP                                 | CUSIP: 683715106<br>LEI: 549300HP7ONDQODZJV16 | Long             | EC               | CORP              | CA        |     17728 | NS      | $662672.64    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| DASSAULT AVIATION SA                               | DASSAULT AVIATION SA                           | CUSIP: N/A<br>LEI: 969500CVFTUT88V8QN95       | Long             | EC               | CORP              | FR        |      2105 | NS      | $703264.62    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| BOUYGUES SA                                        | BOUYGUES                                       | CUSIP: N/A<br>LEI: 969500MOCLNQFNZN0D63       | Long             | EC               | CORP              | FR        |     20338 | NS      | $914882.92    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| OTSUKA CORPORATION                                 | OTSUKA CORPORATION                             | CUSIP: N/A<br>LEI: 529900RG9DJ58J3UIE72       | Long             | EC               | CORP              | JP        |     16500 | NS      | $344572.94    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| MONCLER S.P.A.                                     | MONCLER SPA                                    | CUSIP: N/A<br>LEI: 815600EBD7FB00525B20       | Long             | EC               | CORP              | IT        |     11379 | NS      | $666154.92    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| EIFFAGE SA                                         | EIFFAGE SA                                     | CUSIP: N/A<br>LEI: 969500OQXKE5WDM9M994       | Long             | EC               | CORP              | FR        |     10328 | NS      | $1317885.10   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| SCREEN Holdings Co.,Ltd.                           | SCREEN HOLDINGS CO LTD                         | CUSIP: N/A<br>LEI: 353800ND89FTQ9XQ0R07       | Long             | EC               | CORP              | JP        |      6900 | NS      | $628078.72    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Takeda Pharmaceutical Company Limited              | TAKEDA PHARMACEUTICAL CO LTD                   | CUSIP: N/A<br>LEI: 549300ZLMVP4X0OGR454       | Long             | EC               | CORP              | JP        |     66900 | NS      | $1952211.40   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Shin-Etsu Chemical Co., Ltd.                       | SHIN ETSU CHEMICAL                             | CUSIP: N/A<br>LEI: 353800PX8Q64N86H5W41       | Long             | EC               | CORP              | JP        |     54800 | NS      | $1798501.39   | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| AISIN CORPORATION                                  | AISIN SEIKI CO LTD                             | CUSIP: N/A<br>LEI: 3538004IOK08PDY6I723       | Long             | EC               | CORP              | JP        |     53000 | NS      | $917562.72    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Lasertec Corporation                               | LASERTEC CORP                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |      4800 | NS      | $659119.50    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Suntory Beverage & Food Limited                    | SUNTORY BEVERAGE FOOD LTD                      | CUSIP: N/A<br>LEI: 549300FONLMVK7YYYH41       | Long             | EC               | CORP              | JP        |     12800 | NS      | $400351.66    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Cenovus Energy Inc.                                | CENOVUS ENERGY INC                             | CUSIP: 15135U109<br>LEI: 549300F4XPHJ7NOSP309 | Long             | EC               | CORP              | CA        |     63638 | NS      | $1081209.62   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Asahi Group Holdings, Ltd.                         | ASAHI BREWERIES LTD                            | CUSIP: N/A<br>LEI: 353800KAJ02XNHLCJW79       | Long             | EC               | CORP              | JP        |     65100 | NS      | $781666.67    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| TAISEI CORPORATION                                 | TAISEI CORP                                    | CUSIP: N/A<br>LEI: 529900TF7XJKIOWMLQ79       | Long             | EC               | CORP              | JP        |      8800 | NS      | $605234.33    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Airlines Co., Ltd.                           | JAPAN AIRLINES CO LTD                          | CUSIP: N/A<br>LEI: 3538002MH5L1QZZ93477       | Long             | EC               | CORP              | JP        |     30500 | NS      | $615280.31    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| TENARIS S.A.                                       | TENARIS SA                                     | CUSIP: N/A<br>LEI: 549300Y7C05BKC4HZB40       | Long             | EC               | CORP              | LU        |     81003 | NS      | $1444410.55   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Galp Energia, SGPS, S.A.                           | GALP ENERGIA SGPS SA                           | CUSIP: N/A<br>LEI: 2138003319Y7NM75FG53       | Long             | EC               | CORP              | PT        |     45256 | NS      | $855330.22    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| OBAYASHI CORPORATION                               | OBAYASHI CORPORATION                           | CUSIP: N/A<br>LEI: 529900YT4O5S0LCXWD54       | Long             | EC               | CORP              | JP        |     44200 | NS      | $726055.32    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| H & M Hennes & Mauritz AB                          | HENNES MAURITZ AB                              | CUSIP: N/A<br>LEI: 529900O5RR7R39FRDM42       | Long             | EC               | CORP              | SE        |     37271 | NS      | $694142.57    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Pan American Silver Corp.                          | PAN AMERICAN SILVER CORP                       | CUSIP: 697900108<br>LEI: 549300MKTF5851TYIB83 | Long             | EC               | CORP              | CA        |     28712 | NS      | $1112015.76   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| JDE Peet's N.V.                                    | JDE PEET S NV                                  | CUSIP: N/A<br>LEI: 724500EHG519SE5ZRT89       | Long             | EC               | CORP              | NL        |     13279 | NS      | $486353.16    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| LES VETEMENTS DE SPORT GILDAN INC.                 | GILDAN ACTIVEWEAR INC                          | CUSIP: 375916103<br>LEI: 549300SB3IBI34M00Z45 | Long             | EC               | CORP              | CA        |      9662 | NS      | $558463.60    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Trend Micro Incorporated                           | TREND MICRO INC JAPAN                          | CUSIP: N/A<br>LEI: 3538005O5UJ5RNAGVE16       | Long             | EC               | CORP              | JP        |      6400 | NS      | $350578.21    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| SANOFI SA                                          | SANOFI                                         | CUSIP: N/A<br>LEI: 549300E9PC51EN656011       | Long             | EC               | CORP              | FR        |     26937 | NS      | $2483860.43   | 2.54%             |  |  |  | No            |                  1 | On Loan: No      |
| CAPGEMINI SE                                       | CAPGEMINI SA                                   | CUSIP: N/A<br>LEI: 96950077L0TN7BAROX36       | Long             | EC               | CORP              | FR        |     10679 | NS      | $1548834.84   | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Suncor Energy Inc.                                 | SUNCOR ENERGY INC                              | CUSIP: 867224107<br>LEI: 549300W70ZOQDVLCHY06 | Long             | EC               | CORP              | CA        |     39786 | NS      | $1665207.79   | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Koninklijke Ahold Delhaize N.V.                    | KONINKLIJKE AHOLD DELHAIZE NV                  | CUSIP: N/A<br>LEI: 724500C9GNBV20UYRX36       | Long             | EC               | CORP              | NL        |     27764 | NS      | $1122801.63   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| FLEX LTD.                                          | FLEX LTD                                       | CUSIP: Y2573F102<br>LEI: 549300EAQH74YHD07T53 | Long             | EC               | CORP              | SG        |     13448 | NS      | $779580.56    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Wartsila Oyj Abp                                   | WARTSILA OYJ ABP                               | CUSIP: N/A<br>LEI: 743700G7A9J1PHM3X223       | Long             | EC               | CORP              | FI        |     23918 | NS      | $714569.41    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| COMPAGNIE DE SAINT-GOBAIN SA                       | COMPAGNIE DE SAINT GOBAIN                      | CUSIP: N/A<br>LEI: NFONVGN05Z0FMN5PEC35       | Long             | EC               | CORP              | FR        |     11839 | NS      | $1273874.51   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Makita Corporation                                 | MAKITA CORPORATION                             | CUSIP: N/A<br>LEI: 529900CDR9E94BCM6294       | Long             | EC               | CORP              | JP        |     16200 | NS      | $526524.65    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| NICE LTD                                           | NICE LTD                                       | CUSIP: N/A<br>LEI: 254900YTY4EF5Z4W0A51       | Long             | EC               | CORP              | IL        |      8110 | NS      | $1195818.23   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Andritz AG                                         | ANDRITZ AG                                     | CUSIP: N/A<br>LEI: 549300VZKC61IR5U8G96       | Long             | EC               | CORP              | AT        |      8748 | NS      | $615130.66    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| ORKLA ASA                                          | ORKLA ASA                                      | CUSIP: N/A<br>LEI: 549300PZS8G8RG6RVZ52       | Long             | EC               | CORP              | NO        |     51031 | NS      | $533102.43    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Nippon Yusen Kabushiki Kaisha                      | NIPPON YUSEN KK                                | CUSIP: N/A<br>LEI: 353800YPW4XM0ZN5I149       | Long             | EC               | CORP              | JP        |     22600 | NS      | $771979.44    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Aena, S.M.E., S.A.                                 | AENA SME SA                                    | CUSIP: E526LK101<br>LEI: 959800R7QMXKF0NFMT29 | Long             | EC               |  | ES        |     34790 | NS      | $950347.83    | 0.97%             |  |  |  | Yes           |                  1 | On Loan: No      |
| RECORDATI INDUSTRIA CHIMICA E FARMACEUTICA S.P.A.  | RECORDATI SPA                                  | CUSIP: N/A<br>LEI: 815600FBF92FD3531704       | Long             | EC               | CORP              | IT        |      6663 | NS      | $404382.29    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| INFORMA PLC                                        | INFORMA PLC                                    | CUSIP: N/A<br>LEI: 5493006VM2LKUPSEDU20       | Long             | EC               | CORP              | GB        |     73614 | NS      | $908321.09    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Securitas AB                                       | SECURITAS AB                                   | CUSIP: N/A<br>LEI: 635400TTYKE8EIWDS617       | Long             | EC               | CORP              | SE        |     30326 | NS      | $456349.93    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| SAPUTO INC.                                        | SAPUTO INC                                     | CUSIP: 802912105<br>LEI: 549300HH4U1DPY0TBT90 | Long             | EC               | CORP              | CA        |     16180 | NS      | $393017.61    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| D'IETEREN GROUP SA                                 | D IETEREN GROUP                                | CUSIP: N/A<br>LEI: 549300DV5KJ23OKVTW34       | Long             | EC               | CORP              | BE        |      1967 | NS      | $367603.13    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| WHITECAP RESOURCES INC.                            | WHITECAP RESOURCES INC                         | CUSIP: 96467A200<br>LEI: 894500UA4G4BTB67II45 | Long             | EC               | CORP              | CA        |     63071 | NS      | $481361.14    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| CANADIAN NATURAL RESOURCES LIMITED                 | CANADIAN NATURAL RESOURCES LTD                 | CUSIP: 136385101<br>LEI: 549300T15RIMIKZC5Q38 | Long             | EC               | CORP              | CA        |     59513 | NS      | $1903218.47   | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| WIX.COM LTD                                        | WIX COM LTD                                    | CUSIP: M98068105<br>LEI: 5493008P6N29Q1AG9464 | Long             | EC               | CORP              | IL        |      4248 | NS      | $754572.24    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| CGI INC.                                           | CGI INC                                        | CUSIP: 12532H104<br>LEI: 549300WSRCZY73ZG3090 | Long             | EC               | CORP              | CA        |     11120 | NS      | $990611.00    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CANON INC.                                         | CANON INC                                      | CUSIP: N/A<br>LEI: 529900JH1GSC035SSP77       | Long             | EC               | CORP              | JP        |     43400 | NS      | $1272914.05   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXON Co., Ltd.                                    | NEXON CO LTD                                   | CUSIP: N/A<br>LEI: 5299005SFO0GAJFLKN43       | Long             | EC               | CORP              | JP        |     27100 | NS      | $595074.73    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| TOYOTA TSUSHO CORPORATION                          | TOYOTA TSUSHO CORPORATION                      | CUSIP: N/A<br>LEI: 549300CEE2ENIUJNXB84       | Long             | EC               | CORP              | JP        |     39700 | NS      | $1101301.14   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Norsk Hydro ASA                                    | NORSK HYDRO ASA                                | CUSIP: N/A<br>LEI: 549300N1SDN71ZZ8BO45       | Long             | EC               | CORP              | NO        |     99575 | NS      | $674847.86    | 0.69%             |  |  |  | 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        |    266250 | NS      | $1025078.07   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Niterra Co., Ltd.                                  | NITERRA CO LTD                                 | CUSIP: N/A<br>LEI: 549300RG3XQGTFM4HH31       | Long             | EC               | CORP              | JP        |     14400 | NS      | $556445.53    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| ARC RESOURCES LTD                                  | ARC RESOURCES LTD                              | CUSIP: 00208D408<br>LEI: 5493000OCGNQZEVTDT08 | Long             | EC               | CORP              | CA        |     50450 | NS      | $920173.19    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| CHECK POINT SOFTWARE TECHNOLOGIES LTD.             | CHECK POINT SOFTWARE TECHNOLOGIES              | CUSIP: M22465104<br>LEI: 2549003ZVBH73EPNS513 | Long             | EC               | CORP              | IL        |      4595 | NS      | $950751.45    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUINOR ASA                                        | EQUINOR ASA                                    | CUSIP: N/A<br>LEI: OW6OFBNCKXC4US5C7523       | Long             | EC               | CORP              | NO        |    106157 | NS      | $2590467.07   | 2.65%             |  |  |  | No            |                  1 | On Loan: No      |
| JAPAN TOBACCO INC.                                 | JAPAN TOBACCO INC                              | CUSIP: N/A<br>LEI: 353800Z0ENYBQO0XRJ31       | Long             | EC               | CORP              | JP        |     42300 | NS      | $1390833.84   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| BUREAU VERITAS SA                                  | BUREAU VERITAS SA                              | CUSIP: N/A<br>LEI: 969500TPU5T3HA5D1F11       | Long             | EC               | CORP              | FR        |     19997 | NS      | $625361.07    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| TFI International Inc.                             | TFI INTERNATIONAL INC                          | CUSIP: 87241L109<br>LEI: 5493007R9W7KO7SJN678 | Long             | EC               | CORP              | CA        |      7208 | NS      | $634736.48    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| ASHTEAD GROUP PUBLIC LIMITED COMPANY               | ASHTEAD GROUP PLC                              | CUSIP: N/A<br>LEI: 2138007UTBN8X9K1A235       | Long             | EC               | CORP              | GB        |     13922 | NS      | $929493.72    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| BRIDGESTONE CORPORATION                            | BRIDGESTONE CORP                               | CUSIP: N/A<br>LEI: 549300DHPOF90OYYD780       | Long             | EC               | CORP              | JP        |     18200 | NS      | $842859.27    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Galaxy Entertainment Group Limited                 | GALAXY ENTERTAINMENT GROUP LTD                 | CUSIP: N/A<br>LEI: 549300ZSEBV3HR826S10       | Long             | EC               | CORP              | HK        |    127382 | NS      | $701921.19    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-30

**Name of Applicant:** Victory Portfolios II

**Signature:** Carol Trevino

**Name of Signer:** Carol Trevino

**Title:** Treasurer