VICTORY PORTFOLIOS II

CUSIP: 92647N840 Class: VCSHS INTL VOLTY

Holders for Q4 2025 Position Changes for Q4 2025

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

New Positions (2)

FLOW TRADERS U.S. LLC

Value ($000) $5 Shares 94,810

SEI INVESTMENTS CO

Value ($000) $291 Shares 5,387

Institution	Shares	Value ($000)
FLOW TRADERS U.S. LLC	94,810	$5
SEI INVESTMENTS CO	5,387	$291

Increased Positions (4)

Rockefeller Capital Management L.P.

Value ($000) $553 (+890.2%) Shares 10,252 (+846.6%)

BANK OF AMERICA CORP /DE/

Value ($000) $5,244 (+15.8%) Shares 97,158 (+10.7%)

NewEdge Advisors, LLC

Value ($000) $738 (+16.4%) Shares 13,681 (+11.3%)

LPL Financial LLC

Value ($000) $491 (+7.5%) Shares 9,104 (+2.8%)

Institution	Prev Shares	Curr Shares	Change
Rockefeller Capital Management L.P.	1,083	10,252	+9,169 (+846.6%)
BANK OF AMERICA CORP /DE/	87,766	97,158	+9,392 (+10.7%)
NewEdge Advisors, LLC	12,291	13,681	+1,390 (+11.3%)
LPL Financial LLC	8,858	9,104	+246 (+2.8%)

Decreased Positions (8)

VICTORY CAPITAL MANAGEMENT INC

Value ($000) $31,886 (-52.4%) Shares 590,759 (-54.5%)

Summit Financial, LLC

Value ($000) $7,133 (-4.4%) Shares 132,155 (-8.6%)

JANE STREET GROUP, LLC

Value ($000) $827 (-43.6%) Shares 15,323 (-46.1%)

SUSQUEHANNA INTERNATIONAL GROUP, LLP

Value ($000) $2,075 (-20.4%) Shares 38,443 (-23.9%)

ROYAL BANK OF CANADA

Value ($000) $188 (-76.0%) Shares 3,491 (-77.0%)

RIVERSEDGE ADVISORS, LLC

Value ($000) $596 (+1.2%) Shares 11,034 (-3.2%)

Value ($000) $14 (-27.3%) Shares 253 (-30.5%)

Value ($000) $0 (-97.0%) Shares 1 (-97.6%)

Institution	Prev Shares	Curr Shares	Change
VICTORY CAPITAL MANAGEMENT INC	1,299,303	590,759	-708,544 (-54.5%)
Summit Financial, LLC	144,651	132,155	-12,496 (-8.6%)
JANE STREET GROUP, LLC	28,412	15,323	-13,089 (-46.1%)
SUSQUEHANNA INTERNATIONAL GROUP, LLP	50,539	38,443	-12,096 (-23.9%)
ROYAL BANK OF CANADA	15,178	3,491	-11,687 (-77.0%)
RIVERSEDGE ADVISORS, LLC	11,404	11,034	-370 (-3.2%)
UBS Group AG	364	253	-111 (-30.5%)
MORGAN STANLEY	42	1	-41 (-97.6%)