VICTORY PORTFOLIOS II

Ticker: UEVM CUSIP: 92647N543 Class: VICTORYSHS EMERG

Holders for Q4 2025 Position Changes for Q4 2025

Note: Option positions (PUT/CALL) are excluded.

New Positions (3)

US BANCORP \DE\
Value ($000) $111 Shares 2,000
MORGAN STANLEY
Value ($000) $12 Shares 211
Aptus Capital Advisors, LLC
Value ($000) $10 Shares 187

Increased Positions (5)

NORTHEAST PLANNING ASSOCIATES, INC. / NH /
Value ($000) $2,804 (+3.0%) Shares 50,572 (+3.1%)
BANK OF AMERICA CORP /DE/
Value ($000) $12,229 (+82.0%) Shares 220,582 (+82.2%)
CITADEL ADVISORS LLC
Value ($000) $2,018 (+180.3%) Shares 36,398 (+180.5%)
OLD MISSION CAPITAL LLC
Value ($000) $753 (+10.7%) Shares 13,589 (+10.8%)
Sigma Planning Corp
Value ($000) $986 (+3.6%) Shares 17,782 (+3.7%)

Decreased Positions (7)

VICTORY CAPITAL MANAGEMENT INC
Value ($000) $173,647 (-9.8%) Shares 3,132,185 (-9.7%)
JANE STREET GROUP, LLC
Value ($000) $5,657 (-48.9%) Shares 102,037 (-48.9%)
LPL Financial LLC
Value ($000) $951 (-70.6%) Shares 17,158 (-70.6%)
SUSQUEHANNA INTERNATIONAL GROUP, LLP
Value ($000) $866 (-7.9%) Shares 15,613 (-7.8%)
UBS Group AG
Value ($000) $3 (-83.7%) Shares 48 (-83.7%)
OSAIC HOLDINGS, INC.
Value ($000) $401 (-0.8%) Shares 7,234 (-2.1%)
COMMONWEALTH EQUITY SERVICES, LLC
Value ($000) $457 (+96910.6%) Shares 8,242 (-2.9%)

Exited Positions (4)

Empirical Asset Management, LLC
Value ($000) $361 Shares 6,512
GOLDMAN SACHS GROUP INC
Value ($000) $420 Shares 7,563
FARMERS & MERCHANTS INVESTMENTS INC
Value ($000) $6 Shares 115
Painted Porch Advisors LLC
Value ($000) $3 Shares 53