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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CISCO SYSTEMS, INC.</name>
        <lei>549300LKFJ962MZ46593</lei>
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        <cusip>17275R102</cusip>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>VALERO ENERGY CORPORATION</name>
        <lei>549300XTO5VR8SKV1V74</lei>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JOHNSON &amp; JOHNSON</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FIRST AMERICAN FINANCIAL CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MARATHON OIL CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ZEBRA TECHNOLOGIES CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>COLGATE-PALMOLIVE COMPANY</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>EMERSON ELECTRIC CO.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WEYERHAEUSER COMPANY</name>
        <lei>08IRJODWFYBI7QWRGS31</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ILLINOIS TOOL WORKS INC.</name>
        <lei>76NA4I14SZCFAYMNSV04</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>THOR INDUSTRIES, INC.</name>
        <lei>254900XZO1228PDSG060</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ARCH CAPITAL GROUP LTD.</name>
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        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>THE CLOROX COMPANY</name>
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        <fairValLevel>1</fairValLevel>
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        <name>BRISTOL-MYERS SQUIBB COMPANY</name>
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        <name>LANDSTAR SYSTEM, INC.</name>
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        <name>CLEAN HARBORS, INC.</name>
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        <name>EVERCORE INC.</name>
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        <name>MOLINA HEALTHCARE, INC.</name>
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        <name>TYSON FOODS, INC.</name>
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        <name>FOX CORPORATION</name>
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        <name>AVERY DENNISON CORPORATION</name>
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        <name>GENTEX CORPORATION</name>
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        <name>HESS CORPORATION</name>
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        <name>OSHKOSH CORPORATION</name>
        <lei>549300FEKNPCFSA2B506</lei>
        <title>OSHKOSH CORP</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SNAP-ON INCORPORATED</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ABBVIE INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>NETAPP, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>HP INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>DAVITA INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>WALMART INC.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>CHARTER COMMUNICATIONS, INC.</name>
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        <name>CUMMINS INC.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>ZIFF DAVIS, INC.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>TRACTOR SUPPLY COMPANY</name>
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        <fairValLevel>1</fairValLevel>
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        <name>TAPESTRY, INC.</name>
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        <name>HOLOGIC, INC.</name>
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        <name>PACKAGING CORPORATION OF AMERICA</name>
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        <name>Philip Morris International Inc.</name>
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        <name>LINCOLN ELECTRIC HOLDINGS, INC.</name>
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        <name>CHEVRON CORPORATION</name>
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        <name>NXP Semiconductors N.V.</name>
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        <name>WASTE MANAGEMENT, INC.</name>
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        <name>ATKORE INC</name>
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        <name>THE J. M. SMUCKER COMPANY</name>
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        <name>APPLIED MATERIALS, INC.</name>
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        <name>AMERICAN INTERNATIONAL GROUP, INC.</name>
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        <name>DEVON ENERGY CORPORATION</name>
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        <title>DEVON ENERGY CORP</title>
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        <invCountry>US</invCountry>

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        <name>VISA INC.</name>
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    <signature>
      <ncom:dateSigned>2022-08-01</ncom:dateSigned>
      <ncom:nameOfApplicant>Victory Portfolios II</ncom:nameOfApplicant>
      <ncom:signature>Allan Shaer</ncom:signature>
      <ncom:signerName>Allan Shaer</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
