VICTORY PORTFOLIOS II

Ticker: SFLO CUSIP: 92647X822 Class: VICTORYSHARES SM

Holders for Q4 2025 Position Changes for Q4 2025

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

New Positions (3)

Private Advisor Group, LLC
Value ($000) $281 Shares 9,532
ZIONS BANCORPORATION, NATIONAL ASSOCIATION /UT/
Value ($000) $49 Shares 1,660
Kestra Advisory Services, LLC
Value ($000) $73 Shares 2,459

Increased Positions (33)

IAG Wealth Partners, LLC
Value ($000) $11,765 (+7477.1%) Shares 399,022 (+7380.7%)
Boothe Investment Group, Inc.
Value ($000) $17,875 (+2.9%) Shares 606,248 (+1.6%)
Vantage Financial Partners, LLC
Value ($000) $11,491 (+3.3%) Shares 389,727 (+2.0%)
Tradition Wealth Management, LLC
Value ($000) $12,199 (+7.5%) Shares 413,720 (+6.1%)
WBI INVESTMENTS, INC.
Value ($000) $1,432 (+10.4%) Shares 48,574 (+9.0%)
GWN SECURITIES INC.
Value ($000) $623 (+43.3%) Shares 21,119 (+41.5%)
Rockefeller Capital Management L.P.
Value ($000) $12,144 (+8321.2%) Shares 411,874 (+8214.0%)
Atlas Wealth LLC
Value ($000) $349 (+38.1%) Shares 11,831 (+36.3%)
Bruce G. Allen Investments, LLC
Value ($000) $55 (+556.1%) Shares 1,859 (+547.7%)
NewEdge Advisors, LLC
Value ($000) $14,172 (+26.5%) Shares 480,631 (+24.9%)
VICTORY CAPITAL MANAGEMENT INC
Value ($000) $85,647 (+14.0%) Shares 2,904,723 (+12.6%)
Triumph Capital Management
Value ($000) $361 (+26.4%) Shares 12,232 (+24.8%)
MML INVESTORS SERVICES, LLC
Value ($000) $8,929 (+35.4%) Shares 302,834 (+33.7%)
MORGAN STANLEY
Value ($000) $44,815 (+99.4%) Shares 1,519,915 (+96.9%)
LPL Financial LLC
Value ($000) $28,226 (+46.1%) Shares 957,288 (+44.2%)
BANK OF AMERICA CORP /DE/
Value ($000) $50,073 (+37.9%) Shares 1,698,260 (+36.2%)
D.A. DAVIDSON & CO.
Value ($000) $1,144 (+152.3%) Shares 38,798 (+149.1%)
&PARTNERS
Value ($000) $1,994 (+38.0%) Shares 67,624 (+36.2%)
StoneX Group Inc.
Value ($000) $1,601 (+8.5%) Shares 54,287 (+7.1%)
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO
Value ($000) $2,596 (+60.6%) Shares 88,028 (+58.6%)

Decreased Positions (5)

Sanctuary Advisors, LLC
Value ($000) $11,936 (-46.3%) Shares 404,824 (-53.8%)
WCG Wealth Advisors LLC
Value ($000) $807 (-4.6%) Shares 27,382 (-5.8%)
NATIONS FINANCIAL GROUP INC, /IA/ /ADV
Value ($000) $994 (-1.8%) Shares 33,723 (-3.0%)
OSAIC HOLDINGS, INC.
Value ($000) $1,415 (-3.5%) Shares 47,957 (-4.9%)
Pine Valley Investments Ltd Liability Co
Value ($000) $383 (-3.8%) Shares 12,997 (-5.1%)

Exited Positions (7)

BROWN ADVISORY INC
Value ($000) $516 Shares 17,726
SUSQUEHANNA INTERNATIONAL GROUP, LLP
Value ($000) $702 Shares 24,121
TOTH FINANCIAL ADVISORY CORP
Value ($000) $32 Shares 1,087
JPMORGAN CHASE & CO
Value ($000) $9 Shares 312
FMR LLC
Value ($000) $7 Shares 240
Janney Montgomery Scott LLC
Value ($000) $0 Shares 16,693
CITIGROUP INC
Value ($000) $0 Shares 1