VICTORY PORTFOLIOS II

Institution	Shares	Value ($000)
BlueStem Wealth Partners, LLC	209,508	$10,651
Rooted Wealth Advisors, Inc.	47,119	$2,403
Miller Financial Services LLC	6,785	$345
Patriot Financial Group Insurance Agency, LLC	48,700	$2,476
PLANNING DIRECTIONS INC	6,935	$353
Financial Guidance Group, Inc.	6,629	$337
Farther Finance Advisors, LLC	149,102	$7,580
COMERICA BANK	23,206	$1,180
GOLDMAN SACHS GROUP INC	21,802	$1,108
Creative Planning	13,698	$696
FLOW TRADERS U.S. LLC	8,635	$0
MAI Capital Management	3,777	$192
NewEdge Advisors, LLC	3,088	$157
Global Retirement Partners, LLC	644	$33
AE Wealth Management LLC	182	$9

Increased Positions (69)

Cornerstone Planning Group LLC

Value ($000) $12,531 (+49313.3%) Shares 246,096 (+58494.3%)

Broadway Wealth Solutions, Inc.

Value ($000) $26,438 (+8.6%) Shares 520,018 (+8.9%)

NORTHEAST PLANNING ASSOCIATES, INC. / NH /

Value ($000) $12,834 (+1.5%) Shares 252,435 (+1.8%)

Stonebridge Financial Group, LLC

Value ($000) $38,718 (+9.6%) Shares 761,559 (+10.0%)

KINTRA WEALTH, LLC

Value ($000) $11,009 (+381.3%) Shares 216,542 (+382.7%)

Smith Thornton Advisors LLC

Value ($000) $6,329 (+7.0%) Shares 124,488 (+7.3%)

ADAPT WEALTH ADVISORS, LLC

Value ($000) $9,217 (+5.0%) Shares 181,301 (+5.3%)

Pinnacle Wealth Management Group, Inc.

Value ($000) $8,076 (+4.2%) Shares 158,859 (+4.5%)

ERn Financial, LLC

Value ($000) $16,030 (+4.4%) Shares 315,306 (+4.7%)

Darrow Company, Inc.

Value ($000) $5,107 (+12.3%) Shares 100,443 (+12.7%)

REDW Wealth LLC

Value ($000) $3,218 (+100.4%) Shares 63,296 (+101.0%)

AVAII WEALTH MANAGEMENT, LLC

Value ($000) $7,565 (+3.2%) Shares 148,801 (+3.6%)

Axis Wealth Partners, LLC

Value ($000) $1,065 (+299.3%) Shares 20,943 (+300.5%)

Maridea Wealth Management LLC

Value ($000) $2,472 (+719.3%) Shares 48,629 (+721.6%)

Merit Financial Group, LLC

Value ($000) $132,118 (+6.6%) Shares 2,598,695 (+6.9%)

TOTH FINANCIAL ADVISORY CORP

Value ($000) $9,699 (+9.1%) Shares 190,774 (+9.4%)

Samalin Investment Counsel, LLC

Value ($000) $3,128 (+8.7%) Shares 61,522 (+9.0%)

MOTCO

Value ($000) $17,910 (+2.1%) Shares 352,272 (+2.4%)

Comprehensive Wealth Management, LLC

Value ($000) $1,009 (+23.6%) Shares 19,851 (+23.9%)

Certified Advisory Corp

Value ($000) $10,671 (+3.2%) Shares 209,895 (+3.5%)

Institution	Prev Shares	Curr Shares	Change
Cornerstone Planning Group LLC	420	246,096	+245,676 (+58494.3%)
Broadway Wealth Solutions, Inc.	477,591	520,018	+42,427 (+8.9%)
NORTHEAST PLANNING ASSOCIATES, INC. / NH /	248,091	252,435	+4,344 (+1.8%)
Stonebridge Financial Group, LLC	692,506	761,559	+69,053 (+10.0%)
KINTRA WEALTH, LLC	44,861	216,542	+171,681 (+382.7%)
Smith Thornton Advisors LLC	116,039	124,488	+8,449 (+7.3%)
ADAPT WEALTH ADVISORS, LLC	172,138	181,301	+9,163 (+5.3%)
Pinnacle Wealth Management Group, Inc.	152,074	158,859	+6,785 (+4.5%)
ERn Financial, LLC	301,014	315,306	+14,292 (+4.7%)
Darrow Company, Inc.	89,157	100,443	+11,286 (+12.7%)
REDW Wealth LLC	31,496	63,296	+31,800 (+101.0%)
AVAII WEALTH MANAGEMENT, LLC	143,695	148,801	+5,106 (+3.6%)
Axis Wealth Partners, LLC	5,229	20,943	+15,714 (+300.5%)
Maridea Wealth Management LLC	5,919	48,629	+42,710 (+721.6%)
Merit Financial Group, LLC	2,430,797	2,598,695	+167,898 (+6.9%)
TOTH FINANCIAL ADVISORY CORP	174,371	190,774	+16,403 (+9.4%)
Samalin Investment Counsel, LLC	56,439	61,522	+5,083 (+9.0%)
MOTCO	344,169	352,272	+8,103 (+2.4%)
Comprehensive Wealth Management, LLC	16,018	19,851	+3,833 (+23.9%)
Certified Advisory Corp	202,760	209,895	+7,135 (+3.5%)

Decreased Positions (22)

Redhawk Wealth Advisors, Inc.

Value ($000) $12,219 (-36.7%) Shares 240,339 (-36.5%)

Lakeridge Wealth Management LLC

Value ($000) $3,165 (-36.3%) Shares 62,252 (-36.1%)

Marquette Asset Management, LLC

Value ($000) $26,277 (-1.6%) Shares 516,850 (-1.3%)

Elyxium Wealth, LLC

Value ($000) $17 (-97.8%) Shares 340 (-97.8%)

Trademark Financial Management, LLC

Value ($000) $2,087 (-5.9%) Shares 41,053 (-5.6%)

OneAscent Wealth Management LLC

Value ($000) $1,912 (-15.3%) Shares 37,614 (-15.0%)

Bensler, LLC

Value ($000) $7,855 (-5.3%) Shares 154,508 (-5.0%)

Sonoma Allocations LLC

Value ($000) $438 (-39.7%) Shares 8,596 (-39.6%)

Madison Wealth Partners, Inc

Value ($000) $1,809 (-7.8%) Shares 35,592 (-7.5%)

WEALTH ENHANCEMENT ADVISORY SERVICES, LLC

Value ($000) $14,732 (-42.7%) Shares 289,315 (-42.5%)

Buckingham Strategic Partners

Value ($000) $6,733 (-18.1%) Shares 132,438 (-18.2%)

RAYMOND JAMES FINANCIAL INC

Value ($000) $18,765 (-12.0%) Shares 369,098 (-11.8%)

Atria Investments, Inc

Value ($000) $1,601 (-16.4%) Shares 31,497 (-16.2%)

Brinker Capital Investments, LLC

Value ($000) $1,636 (-19.2%) Shares 32,170 (-19.0%)

SWMG, LLC

Value ($000) $732 (-1.1%) Shares 14,337 (-1.2%)

Thrivent Financial for Lutherans

Value ($000) $0 (-93.3%) Shares 5,743 (-93.3%)

Mariner, LLC

Value ($000) $1,632 (-14.0%) Shares 32,101 (-13.7%)

Sanctuary Advisors, LLC

Value ($000) $365 (-17.3%) Shares 7,175 (-17.0%)

Parallel Advisors, LLC

Value ($000) $357 (-12.1%) Shares 7,020 (-11.8%)

DAYMARK WEALTH PARTNERS, LLC

Value ($000) $494 (-5.4%) Shares 9,719 (-5.2%)

Institution	Prev Shares	Curr Shares	Change
Redhawk Wealth Advisors, Inc.	378,752	240,339	-138,413 (-36.5%)
Lakeridge Wealth Management LLC	97,406	62,252	-35,154 (-36.1%)
Marquette Asset Management, LLC	523,530	516,850	-6,680 (-1.3%)
Elyxium Wealth, LLC	15,565	340	-15,225 (-97.8%)
Trademark Financial Management, LLC	43,476	41,053	-2,423 (-5.6%)
OneAscent Wealth Management LLC	44,258	37,614	-6,644 (-15.0%)
Bensler, LLC	162,609	154,508	-8,101 (-5.0%)
Sonoma Allocations LLC	14,237	8,596	-5,641 (-39.6%)
Madison Wealth Partners, Inc	38,490	35,592	-2,898 (-7.5%)
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC	503,357	289,315	-214,042 (-42.5%)
Buckingham Strategic Partners	161,877	132,438	-29,439 (-18.2%)
RAYMOND JAMES FINANCIAL INC	418,387	369,098	-49,289 (-11.8%)
Atria Investments, Inc	37,572	31,497	-6,075 (-16.2%)
Brinker Capital Investments, LLC	39,716	32,170	-7,546 (-19.0%)
SWMG, LLC	14,512	14,337	-175 (-1.2%)
Thrivent Financial for Lutherans	85,180	5,743	-79,437 (-93.3%)
Mariner, LLC	37,201	32,101	-5,100 (-13.7%)
Sanctuary Advisors, LLC	8,648	7,175	-1,473 (-17.0%)
Parallel Advisors, LLC	7,960	7,020	-940 (-11.8%)
DAYMARK WEALTH PARTNERS, LLC	10,248	9,719	-529 (-5.2%)

Exited Positions (12)

Synergy Asset Management, LLC

Value ($000) $2,751 Shares 54,055

GREENUP STREET WEALTH MANAGEMENT LLC

Value ($000) $387 Shares 7,590

WBI INVESTMENTS, INC.

Value ($000) $226 Shares 4,434

True North Advisors, LLC

Value ($000) $259 Shares 5,074

Crossmark Global Holdings, Inc.

Value ($000) $402 Shares 7,889

CITADEL ADVISORS LLC

Value ($000) $5,672 Shares 111,246

Ameritas Advisory Services, LLC

Value ($000) $79 Shares 1,559

CULLEN/FROST BANKERS, INC.

Value ($000) $143 Shares 2,809

PRINCIPAL SECURITIES, INC.

Value ($000) $77 Shares 1,520

JPMORGAN CHASE & CO

Value ($000) $32 Shares 625

FARMERS & MERCHANTS INVESTMENTS INC

Value ($000) $4 Shares 84

CITIGROUP INC

Value ($000) $0 Shares 3

Institution	Prev Shares	Prev Value ($000)
Synergy Asset Management, LLC	54,055	$2,751
GREENUP STREET WEALTH MANAGEMENT LLC	7,590	$387
WBI INVESTMENTS, INC.	4,434	$226
True North Advisors, LLC	5,074	$259
Crossmark Global Holdings, Inc.	7,889	$402
CITADEL ADVISORS LLC	111,246	$5,672
Ameritas Advisory Services, LLC	1,559	$79
CULLEN/FROST BANKERS, INC.	2,809	$143
PRINCIPAL SECURITIES, INC.	1,520	$77
JPMORGAN CHASE & CO	625	$32
FARMERS & MERCHANTS INVESTMENTS INC	84	$4
CITIGROUP INC	3	$0