VICTORY PORTFOLIOS II

Ticker: CFO CUSIP: 92647N782 Class: ETF

Holders for Q4 2025 Position Changes for Q4 2025

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

New Positions (5)

FLAGSHIP HARBOR ADVISORS, LLC
Value ($000) $108 Shares 1,469
AE Wealth Management LLC
Value ($000) $333 Shares 4,506
SageView Advisory Group, LLC
Value ($000) $23 Shares 317
INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC
Value ($000) $14 Shares 194
HRT FINANCIAL LP
Value ($000) $0 Shares 3,817

Increased Positions (9)

Clearstead Advisors, LLC
Value ($000) $4,550 (+8.8%) Shares 61,614 (+8.8%)
Cetera Investment Advisers
Value ($000) $31,739 (+4.1%) Shares 429,810 (+4.0%)
SUSQUEHANNA INTERNATIONAL GROUP, LLP
Value ($000) $2,137 (+759.8%) Shares 28,936 (+759.1%)
NewEdge Advisors, LLC
Value ($000) $4,816 (+10.4%) Shares 65,220 (+10.3%)
GOLDMAN SACHS GROUP INC
Value ($000) $2,056 (+57.0%) Shares 27,844 (+56.8%)
FMR LLC
Value ($000) $56 (+11.1%) Shares 756 (+11.0%)
Cambridge Investment Research Advisors, Inc.
Value ($000) $1 (+5.7%) Shares 18,438 (+5.5%)
Janney Montgomery Scott LLC
Value ($000) $1 (+4.2%) Shares 12,862 (+4.1%)
CWM, LLC
Value ($000) $0 (+6.9%) Shares 840 (+6.1%)

Decreased Positions (26)

MONEY CONCEPTS CAPITAL CORP
Value ($000) $933 (-59.7%) Shares 12,633 (-59.7%)
Keystone Financial Group
Value ($000) $5,426 (-7.9%) Shares 73,478 (-8.0%)
Intrua Financial, LLC
Value ($000) $4,284 (-3.8%) Shares 58,008 (-3.9%)
BridgePort Financial Solutions, LLC
Value ($000) $1,298 (-5.7%) Shares 17,577 (-5.8%)
Patriot Financial Group Insurance Agency, LLC
Value ($000) $1,731 (-4.1%) Shares 23,437 (-4.2%)
RPS ADVISORY SOLUTIONS LLC
Value ($000) $269 (-10.0%) Shares 3,649 (-10.1%)
CALTON & ASSOCIATES, INC.
Value ($000) $912 (-7.6%) Shares 12,347 (-7.7%)
Gen-Wealth Partners Inc
Value ($000) $80 (-36.5%) Shares 1,078 (-36.6%)
RAYMOND JAMES FINANCIAL INC
Value ($000) $28,986 (-6.1%) Shares 392,530 (-6.2%)
Horizons Wealth Management
Value ($000) $106 (-10.4%) Shares 1,431 (-10.5%)
LPL Financial LLC
Value ($000) $23,976 (-5.3%) Shares 324,685 (-5.4%)
MORGAN STANLEY
Value ($000) $19,144 (-8.4%) Shares 259,245 (-8.5%)
Integrated Wealth Concepts LLC
Value ($000) $7,574 (-2.3%) Shares 102,567 (-2.3%)
CITADEL ADVISORS LLC
Value ($000) $228 (-87.5%) Shares 3,083 (-87.5%)
Creative Planning
Value ($000) $4,956 (-7.1%) Shares 67,119 (-7.2%)
COMMONWEALTH EQUITY SERVICES, LLC
Value ($000) $12,489 (+97169.9%) Shares 169,134 (-2.8%)
UBS Group AG
Value ($000) $2,470 (-6.6%) Shares 33,449 (-6.7%)
Private Advisor Group, LLC
Value ($000) $1,182 (-8.3%) Shares 16,010 (-8.3%)
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO
Value ($000) $1,054 (-10.6%) Shares 14,274 (-10.7%)
OSAIC HOLDINGS, INC.
Value ($000) $1,143 (-7.8%) Shares 15,479 (-8.2%)

Exited Positions (5)

Significant Wealth Partners LLC
Value ($000) $331 Shares 4,492
Vantage Financial Partners, LLC
Value ($000) $210 Shares 2,850
GPS Wealth Strategies Group, LLC
Value ($000) $32 Shares 430
Ameritas Advisory Services, LLC
Value ($000) $22 Shares 304
EverSource Wealth Advisors, LLC
Value ($000) $0 Shares 1