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        <name>DOW INC.</name>
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        <name>ARCH CAPITAL GROUP LTD.</name>
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        <name>M&amp;T BANK CORPORATION</name>
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        <name>S P 500 EMINI FUTURE SEP26</name>
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        <name>GENERAL MOTORS COMPANY</name>
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        <name>HP INC.</name>
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        <name>BERKSHIRE HATHAWAY INC.</name>
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        <name>SMURFIT WESTROCK PUBLIC LIMITED COMPANY</name>
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        <name>FISERV, INC.</name>
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        <name>EXXON MOBIL CORPORATION</name>
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        <name>SEAGATE TECHNOLOGY HOLDINGS PUBLIC LIMITED COMPANY</name>
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        <name>ARCHER-DANIELS-MIDLAND COMPANY.</name>
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        <name>KEYSIGHT TECHNOLOGIES, INC.</name>
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        <name>BIOGEN INC.</name>
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        <name>FORD MOTOR COMPANY</name>
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        <name>EOG RESOURCES, INC.</name>
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        <name>ATMOS ENERGY CORPORATION</name>
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        <name>EAST WEST BANCORP, INC.</name>
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        <name>REGENERON PHARMACEUTICALS, INC.</name>
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        <title>REGENERON PHARMACEUTICALS INC</title>
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        <name>Chubb Limited</name>
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          <isin value="CH0044328745"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CONSOLIDATED EDISON, INC.</name>
        <lei>54930033SBW53OO8T749</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>UNITED AIRLINES HOLDINGS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HUNTINGTON INGALLS INDUSTRIES, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BANK OF AMERICA CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>QUEST DIAGNOSTICS INCORPORATED</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>REALTY INCOME CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>TEXTRON INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>PRINCIPAL FINANCIAL GROUP, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>THE KRAFT HEINZ COMPANY</name>
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        <name>CAPITAL ONE FINANCIAL CORPORATION</name>
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        <fairValLevel>1</fairValLevel>
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        <name>CASEY'S GENERAL STORES, INC.</name>
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      <invstOrSec>
        <name>TE CONNECTIVITY PUBLIC LIMITED COMPANY</name>
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        <name>DIAMONDBACK ENERGY, INC.</name>
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        <name>CUMMINS INC.</name>
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        <name>BLOOM ENERGY CORPORATION</name>
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        <name>JABIL INC.</name>
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        <name>THE PNC FINANCIAL SERVICES GROUP, INC.</name>
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        <name>ANALOG DEVICES, INC.</name>
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        <name>W.P. CAREY INC.</name>
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        <name>LOEWS CORPORATION</name>
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        <name>CORNING INCORPORATED</name>
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        <name>PROLOGIS, INC.</name>
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        <title>PROLOGIS INC</title>
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      <invstOrSec>
        <name>GLOBAL PAYMENTS INC.</name>
        <lei>549300NOMHGVQBX6S778</lei>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>LyondellBasell Industries N.V.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>FIRST CITIZENS BANCSHARES, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>JOHNSON CONTROLS INTERNATIONAL PUBLIC LIMITED COMPANY</name>
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        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>TENET HEALTHCARE CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>HCA HEALTHCARE, INC.</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>ROSS STORES, INC.</name>
        <lei>549300ENZFLPGRDFZQ60</lei>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Bunge Global SA</name>
        <lei>254900IVXSV9K0B7PO26</lei>
        <title>BUNGE GLOBAL SA</title>
        <cusip>H11356104</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>ALPHABET INC.</name>
        <lei>5493006MHB84DD0ZWV18</lei>
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        <invCountry>US</invCountry>

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        <fairValLevel>1</fairValLevel>
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        <name>Evergy, Inc.</name>
        <lei>549300PGTHDQY6PSUI61</lei>
        <title>EVERGY INC</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>UNITED THERAPEUTICS CORPORATION</name>
        <lei>5299005C4HZL4UWROC14</lei>
        <title>UNITED THERAPEUTICS CORP</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>TYSON FOODS, INCORPORATED</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>EXPEDIA GROUP, INC.</name>
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        <title>EXPEDIA GROUP INC</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-07-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Victory Portfolios II</ncom:nameOfApplicant>
      <ncom:signature>Carol D. Trevino</ncom:signature>
      <ncom:signerName>Carol D. Trevino</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
