VICTORY PORTFOLIOS II

Ticker: UBND CUSIP: 92647X863 Class: CORE INTRMEDIATE

Holders for Q4 2025 Position Changes for Q4 2025

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

New Positions (5)

Comprehensive Financial Planning, Inc./PA
Value ($000) $25 Shares 1,136
Vise Technologies, Inc.
Value ($000) $286 Shares 13,004
RAYMOND JAMES FINANCIAL INC
Value ($000) $1,039 Shares 47,247
N.E.W. Advisory Services LLC
Value ($000) $26 Shares 1,196
Global Retirement Partners, LLC
Value ($000) $33 Shares 1,482

Increased Positions (17)

CORRECT CAPITAL WEALTH MANAGEMENT
Value ($000) $25,077 (+30.8%) Shares 1,139,864 (+31.1%)
Retirement Planning Group, LLC
Value ($000) $143,108 (+8.7%) Shares 6,504,886 (+8.9%)
CAHABA WEALTH MANAGEMENT, INC.
Value ($000) $172,981 (+2.6%) Shares 7,862,752 (+2.9%)
Annex Advisory Services, LLC
Value ($000) $373,537 (+2.7%) Shares 16,978,957 (+3.0%)
1900 WEALTH MANAGEMENT LLC
Value ($000) $94,353 (+2.5%) Shares 4,288,773 (+2.7%)
Madison Wealth Partners, Inc
Value ($000) $8,236 (+65.2%) Shares 374,374 (+65.6%)
Huntleigh Advisors, Inc.
Value ($000) $7,333 (+24.3%) Shares 333,327 (+24.6%)
Elk River Wealth Management, LLC
Value ($000) $8,322 (+7.2%) Shares 386,896 (+9.9%)
Merit Financial Group, LLC
Value ($000) $128,029 (+6.1%) Shares 5,819,517 (+6.4%)
U.S. Capital Wealth Advisors, LLC
Value ($000) $5,823 (+243.5%) Shares 264,673 (+244.3%)
VICTORY CAPITAL MANAGEMENT INC
Value ($000) $447,896 (+30.6%) Shares 20,358,908 (+30.9%)
OSAIC HOLDINGS, INC.
Value ($000) $43,215 (+559.9%) Shares 1,963,869 (+557.4%)
Corient Private Wealth LLC
Value ($000) $20,068 (+52.0%) Shares 925,940 (+54.6%)
Integrated Investment Consultants, LLC
Value ($000) $871 (+5.8%) Shares 39,596 (+6.0%)
OneDigital Investment Advisors LLC
Value ($000) $3,777 (+11.6%) Shares 171,694 (+11.9%)
ENVESTNET ASSET MANAGEMENT INC
Value ($000) $427 (+71.4%) Shares 19,413 (+71.8%)
COMERICA BANK
Value ($000) $78 (+27.4%) Shares 3,555 (+27.6%)

Decreased Positions (6)

Goldstein Advisors, LLC
Value ($000) $31,098 (-6.2%) Shares 1,413,555 (-6.0%)
JANE STREET GROUP, LLC
Value ($000) $2,612 (-63.1%) Shares 118,745 (-63.1%)
CITADEL ADVISORS LLC
Value ($000) $346 (-40.5%) Shares 15,719 (-40.4%)
Kestra Advisory Services, LLC
Value ($000) $222 (-13.1%) Shares 10,100 (-12.9%)
Steward Partners Investment Advisory, LLC
Value ($000) $200 (-9.4%) Shares 9,111 (-9.2%)
CWM, LLC
Value ($000) $1 (-11.4%) Shares 23,779 (-11.1%)

Exited Positions (3)

GOLDMAN SACHS GROUP INC
Value ($000) $14,637 Shares 663,800
SUSQUEHANNA INTERNATIONAL GROUP, LLP
Value ($000) $1,428 Shares 64,778
UBS Group AG
Value ($000) $0 Shares 6