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        <name>FORTINET, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>LATTICE SEMICONDUCTOR CORPORATION</name>
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        <name>STERLING INFRASTRUCTURE, INC.</name>
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        <name>SNOWFLAKE INC.</name>
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        <name>EXPEDIA GROUP, INC.</name>
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        <name>HUBSPOT, INC.</name>
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        <name>AUTODESK, INC.</name>
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        <name>INTUIT INC.</name>
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        <name>DYNATRACE, INC.</name>
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        <name>LENNOX INTERNATIONAL INC.</name>
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        <name>COMFORT SYSTEMS USA, INC.</name>
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        <name>CHEWY, INC.</name>
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        <name>HALOZYME THERAPEUTICS, INC.</name>
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        <name>NVIDIA CORPORATION</name>
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        <name>MCKESSON CORPORATION</name>
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        <name>MONSTER BEVERAGE CORPORATION</name>
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        <name>DOCUSIGN, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>DRAFTKINGS INC.</name>
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        <name>SALESFORCE, INC.</name>
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        <name>DECKERS OUTDOOR CORPORATION</name>
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        <name>VEEVA SYSTEMS INC.</name>
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        <name>PALANTIR TECHNOLOGIES INC.</name>
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        <name>S P 500 EMINI FUTURE SEP25</name>
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        <name>FAIR ISAAC CORPORATION</name>
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        <name>CROWDSTRIKE HOLDINGS, INC.</name>
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        <name>BOOKING HOLDINGS INC.</name>
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        <name>INCYTE CORPORATION</name>
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        <name>Elastic N.V.</name>
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        <name>APPLOVIN CORPORATION</name>
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        <name>WORKDAY, INC.</name>
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        <name>VERTIV HOLDINGS CO</name>
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        <title>VERTIV HOLDINGS CO</title>
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        <name>AIRBNB, INC.</name>
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        <name>CADENCE DESIGN SYSTEMS, INC.</name>
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        <name>THE NEW YORK TIMES COMPANY</name>
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        <name>LAS VEGAS SANDS CORP.</name>
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        <name>GitLab Inc</name>
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        <name>BADGER METER, INC.</name>
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        <name>GE VERNOVA INC.</name>
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        <name>NUTANIX, INC.</name>
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        <name>BELLRING BRANDS, INC.</name>
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        <name>UBER TECHNOLOGIES, INC.</name>
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        <name>SPOTIFY TECHNOLOGY S.A.</name>
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        <name>CHIPOTLE MEXICAN GRILL, INC.</name>
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        <name>LULULEMON ATHLETICA INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
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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>Astera Labs Inc</name>
        <lei>N/A</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>WINGSTOP INC.</name>
        <lei>549300SSH3F8HPIM3Q47</lei>
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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>ARISTA NETWORKS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BROADCOM INC.</name>
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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>MEDPACE HOLDINGS, INC.</name>
        <lei>549300H8TYEUVTW14A54</lei>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>IDEXX LABORATORIES, INC.</name>
        <lei>OGMTXK0LUU1HKV2P0J84</lei>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MONOLITHIC POWER SYSTEMS, INC.</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>NEUROCRINE BIOSCIENCES, INC.</name>
        <lei>549300FECER0XBN49756</lei>
        <title>NEUROCRINE BIOSCIENCES INC</title>
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        <balance>12358.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CINTAS CORPORATION</name>
        <lei>N/A</lei>
        <title>CINTAS CORP</title>
        <cusip>172908105</cusip>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ROLLINS, INC.</name>
        <lei>549300F2A0BXT4SGWD84</lei>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MARRIOTT INTERNATIONAL, INC.</name>
        <lei>225YDZ14ZO8E1TXUSU86</lei>
        <title>MARRIOTT INTERNATIONAL INC CLASS A</title>
        <cusip>571903202</cusip>
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        <balance>13442.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3672488.82000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>RESMED INC.</name>
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        <title>RESMED INC</title>
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        <valUSD>4005450.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AMPHENOL CORPORATION</name>
        <lei>549300D3L3G0R4U4VT04</lei>
        <title>AMPHENOL CORP CLASS A</title>
        <cusip>032095101</cusip>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2025-07-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Victory Portfolios II</ncom:nameOfApplicant>
      <ncom:signature>Carol Trevino</ncom:signature>
      <ncom:signerName>Carol Trevino</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
