USS Monterey, an 11,000-ton Independence class small aircraft carrier, was built at Camden, New Jersey. Begun as the light cruiser Dayton (CL-78), she was converted to an aircraft carrier well before launching and commissioned in June 1943 with the hull number CV-26. A month later, this was changed to CVL-26. Monterey transited the Panama Canal to the Pacific later in the year, and took part in the invasion of the Gilbert Islands in November. The following month, her planes raided Kavieng, New Ireland.

During the first half of 1944, Monterey participated in the Marshalls operation, attacks on the Japanese in the central Pacific and New Guinea, the Marianas invasion and the Battle of the Philippine Sea. After an overhaul, she rejoined the fast carriers for strikes on Wake Island, the Ryukyus and the Philippines in September-December 1944. In October, Monterey took part in the Battle of Leyte Gulf. Late in the year, she was damaged while steaming through a typhoon and had to return to the U.S. west coast for repairs and another overhaul.

The carrier returned to the combat zone in time to contribute her air power to the conquest of Okinawa. In July and August 1945, she attacked the Japanese Home Islands. After a trans-Pacific voyage bringing veterans home from Japan, Monterey went to the Atlantic, where she was employed transporting men from Italy to the United States. She was decommissioned in February 1947.

After more than three years in "mothballs", the outbreak of the Korean War brought Monterey back to active duty. She recommissioned in September 1950, but remained in the Atlantic area. Sent to Pensacola in early 1951, she served as training carrier from then until mid-1955. Decommissioned again in January 1956, she returned to the Reserve Fleet. Monterey was reclassified as an aircraft transport in May 1959, with the new hull number AVT-2, but had no active service in that role. She was sold for scrapping in May 1971.