# EDGAR Filing Document

**Accession Number:** 0000908695
**File Stem:** 0001004726-25-001620
**Filing Date:** 2025-10
**Character Count:** 73871
**Document Hash:** 3b735a13e40b2be8a9e58ee8c49e5934
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001004726-25-001620.hdr.sgml**: 20251028

**ACCESSION NUMBER**: 0001004726-25-001620

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250831

**FILED AS OF DATE**: 20251028

**DATE AS OF CHANGE**: 20251028

**PERIOD START**: 20260228

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VICTORY PORTFOLIOS III
- **CENTRAL INDEX KEY:** 0000908695

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07852
- **FILM NUMBER:** 251422633

**BUSINESS ADDRESS:**
- **STREET 1:** 15935 LA CANTERA PARKWAY
- **STREET 2:** BUILDING TWO
- **CITY:** SAN ANTONIO
- **STATE:** TX
- **ZIP:** 78256
- **BUSINESS PHONE:** 210-697-3625

**MAIL ADDRESS:**
- **STREET 1:** 15935 LA CANTERA PARKWAY
- **STREET 2:** BUILDING TWO
- **CITY:** SAN ANTONIO
- **STATE:** TX
- **ZIP:** 78256

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** USAA MUTUAL FUNDS TRUST
- **DATE OF NAME CHANGE:** 20060420

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** USAA STATE TAX FREE TRUST
- **DATE OF NAME CHANGE:** 19940325

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** USAA STATE TAX EXEMPT TRUST
- **DATE OF NAME CHANGE:** 19930707

## Series and Classes Contracts Data

### Victory Virginia Bond Fund (Formerly USAA Virginia Bond Fund) (Series ID: S000012921)

| Class ID   | Class Name                                      | Ticker Symbol   |
|:---|:---|:---|
| C000034891 | Victory Virginia Bond Fund Shares               | USVAX           |
| C000220631 | Victory Virginia Bond Fund Class A              | UVABX           |
| C000220632 | Victory Virginia Bond Fund Institutional Shares | UVAIX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Victory Portfolios III

- **b. Investment Company Act file number:** 811-07852

- **c. CIK number of Registrant:** 0000908695

- **d. LEI of Registrant:** 549300WIDR2J6W1Y9S11

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 15935 La Cantera Pkwy Building Two

  - **City:** San Antonio

  - **State:** TX

  - **Foreign country:** US

  - **Zip / Postal Code:** 78256

  - **Telephone number:** 800-235-8396

**Item A.2. Information about the Series.**

- **a. Name of Series:** Victory Virginia Bond Fund

- **b. EDGAR series identifier (if any):** S000012921

- **c. LEI of Series:** 549300MWAIAYNHEQ6O29

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-02-28

- **b. Date as of which information is reported:** 2025-08-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $456822387.44

**Total Liabilities:** $1552687.97

**Net Assets:** $455269699.47

**Cash Not Reported:** $77002.83

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** -602.80789971 | **1-Year:** -16547.84384550 | **5-Year:** -51334.54023693 | **10-Year:** -157065.57079585 | **30-Year:** -86348.58363815

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** -61.50304540 | **1-Year:** -438.22498068 | **5-Year:** -961.88155495 | **10-Year:** -2577.34915761 | **30-Year:** -1454.83953850

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000220631 | 0.55%                | -1.13%               | 0.77%                |
| Class ID C000034891 | 0.47%                | -1.01%               | 0.69%                |
| Class ID C000220632 | 0.57%                | -1.10%               | 0.79%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $1100321.99                                |
| Month 2  | $-2607832.55             | $-3773679.77                               |
| Month 3  | $-313622.80              | $2370020.29                                |

### Schedule of Portfolio Investments

| Name                                                                       | Title                                              | Identifiers                  | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| LYNCHBURG VA ECONOMIC DEV AUTH EDL FACS REV                                | LYNCHBURG ECONOMIC DEVELOPMENT AUTHORITY           | CUSIP: 55123RAR7<br>LEI: N/A | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2784290.31   | 0.61%             | 2043-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COLLEGE BLDG AUTH VA EDL FACS REV 21ST CENTY COLLEGE & EQUIP PROG | VIRGINIA COLLEGE BUILDING AUTHORITY                | CUSIP: 92778VFM5<br>LEI: N/A | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4210957.64   | 0.92%             | 2032-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GUAM GOVT HOTEL OCCUPANCY TAX REV                                          | TERRITORY OF GUAM                                  | CUSIP: 40065KAR4<br>LEI: N/A | Long             | DBT              | MUN               | US        |    250000 | PA      | $261376.00    | 0.06%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COMWLTH UNIV REV                                                  | VIRGINIA COMMONWEALTH UNIVERSITY                   | CUSIP: 92778REX1<br>LEI: N/A | Long             | DBT              | MUN               | US        |    750000 | PA      | $728716.85    | 0.16%             | 2037-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CAMPBELL CNTY VA INDL DEV AUTH PUB FAC LEASE REV                           | CAMPBELL CNTY VA INDL DEV AUTH                     | CUSIP: 13432JAV1<br>LEI: N/A | Long             | DBT              | MUN               | US        |   4600000 | PA      | $4073154.14   | 0.89%             | 2044-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL REGION ARPT COMMN VA ARPT REV                                      | CAPITAL REGION AIRPORT COMMISSION                  | CUSIP: 140442FV1<br>LEI: N/A | Long             | DBT              | MUN               | US        |    700000 | PA      | $681992.32    | 0.15%             | 2036-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COLLEGE BLDG AUTH VA EDL FACS REV 21ST CENTY COLLEGE & EQUIP PROG | VIRGINIA COLLEGE BUILDING AUTHORITY                | CUSIP: 92778VFK9<br>LEI: N/A | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10545415.50  | 2.32%             | 2031-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASH D C ARPTS AUTH DULLES TOLL RD REV                        | METROPOLITAN WASHINGTON AIRPORTS AUTHORITY DULLES  | CUSIP: 592643AY6<br>LEI: N/A | Long             | DBT              | MUN               | US        |   5500000 | PA      | $4718515.09   | 1.04%             | 2030-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CHESAPEAKE VA TOLL RD REV                                                  | CITY OF CHESAPEAKE VA CHESAPEAKE EXPRESSWAY TOLL R | CUSIP: 16532RAS2<br>LEI: N/A | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3007112.73   | 0.66%             | 2040-07-15      | Floating      | 4.88%                 | No            |                  2 | On Loan: No      |
| MANASSAS PARK VA ECONOMIC DEV AUTH LEASE REV                               | MANASSAS PARK ECONOMIC DEVELOPMENT AUTHORITY       | CUSIP: 561812BN7<br>LEI: N/A | Long             | DBT              | MUN               | US        |   4500000 | PA      | $3730232.96   | 0.82%             | 2052-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COMWLTH TRANSN BRD INTST 81 CORRIDOR PROG REV                     | VIRGINIA COMMONWEALTH TRANSPORTATION BOARD I 81 RE | CUSIP: 92778CAV2<br>LEI: N/A | Long             | DBT              | MUN               | US        |   5195000 | PA      | $4580451.62   | 1.01%             | 2046-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY VA UNIV REVS                                                    | UNIVERSITY OF VIRGINIA                             | CUSIP: 915217WP4<br>LEI: N/A | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4045471.19   | 0.89%             | 2042-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROCKINGHAM CNTY VA ECONOMIC DEV AUTH RESIDENTIAL CARE FACS REV             | ROCKINGHAM CNTY VA ECON DEV AUTH RSDL CARE FACS RE | CUSIP: 773455AR1<br>LEI: N/A | Long             | DBT              | MUN               | US        |   4180000 | PA      | $4184296.34   | 0.92%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST HSG DEV AUTH                                                   | VIRGINIA HOUSING DEVELOPMENT AUTHORITY             | CUSIP: 92812WBV5<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1290388.98   | 0.28%             | 2032-12-01      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| SALEM VA ECONOMIC DEV AUTH EDL FACS REV                                    | SALEM ECONOMIC DEVELOPMENT AUTHORITY               | CUSIP: 794565AU5<br>LEI: N/A | Long             | DBT              | MUN               | US        |    250000 | PA      | $228490.60    | 0.05%             | 2038-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LYNCHBURG VA ECONOMIC DEV AUTH HOSP REV                                    | LYNCHBURG ECONOMIC DEVELOPMENT AUTHORITY           | CUSIP: 55123TBM3<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1320000 | PA      | $1242815.37   | 0.27%             | 2039-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COMWLTH UNIV REV                                                  | VIRGINIA COMMONWEALTH UNIVERSITY                   | CUSIP: 92778REZ6<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2475000 | PA      | $2096129.11   | 0.46%             | 2048-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST HSG DEV AUTH                                                   | VIRGINIA HOUSING DEVELOPMENT AUTHORITY             | CUSIP: 92812WWT7<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1128107.03   | 0.25%             | 2055-09-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| WISE CNTY VA INDL DEV AUTH SOLID WASTE & SEW DISP REV                      | WISE CNTY YA INDL DEV AUTH SOL WST SEWAGE DISP R   | CUSIP: 977228AE5<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2500000.00   | 0.55%             | 2040-10-01      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COLLEGE BLDG AUTH VA EDL FACS REV                                 | VIRGINIA COLLEGE BUILDING AUTHORITY                | CUSIP: 92778FKK8<br>LEI: N/A | Long             | DBT              | MUN               | US        |    300000 | PA      | $321561.63    | 0.07%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COLLEGE BLDG AUTH VA EDL FACS REV                                 | VIRGINIA COLLEGE BUILDING AUTHORITY                | CUSIP: 92778FJM6<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1175000 | PA      | $801481.03    | 0.18%             | 2051-01-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ROANOKE VA ECONOMIC DEV AUTH EDL FACS REV                                  | ROANOKE ECONOMIC DEVELOPMENT AUTHORITY             | CUSIP: 770080AR0<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1640000 | PA      | $1619540.54   | 0.36%             | 2036-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PRINCE WILLIAM CNTY VA INDL DEV AUTH RESIDENTIAL CARE FAC REV              | PRINCE WILLIAM CNTY CA INDL DEV AUTH RSDL          | CUSIP: 741756CC2<br>LEI: N/A | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3561233.83   | 0.78%             | 2046-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FING AUTH HEALTHCARE FACS REV                      | VIRGINIA SMALL BUSINESS FINANCING AUTHORITY        | CUSIP: 928105CP8<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2001140.44   | 0.44%             | 2055-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASH D C ARPTS AUTH ARPT SYS REV                              | METROPOLITAN WASHINGTON AIRPORTS AUTHORITY AVIATIO | CUSIP: 592647NG2<br>LEI: N/A | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5129724.12   | 1.13%             | 2054-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CHESAPEAKE BAY BRDG & TUNL DIST VA REV                                     | CHESAPEAKE BAY BRIDGE TUNNEL DISTRICT              | CUSIP: 16514PAD1<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2840000 | PA      | $2785206.41   | 0.61%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST RES AUTH INFRASTRUCTURE REV                                    | VIRGINIA RESOURCES AUTHORITY                       | CUSIP: 92818NJX7<br>LEI: N/A | Long             | DBT              | MUN               | US        |   6700000 | PA      | $5817014.61   | 1.28%             | 2049-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA BEACH VA DEV AUTH RESIDENTIAL CARE FAC REV                        | VIRGINIA BEACH DEVELOPMENT AUTHORITY               | CUSIP: 92774NAX8<br>LEI: N/A | Long             | DBT              | MUN               | US        |   4865000 | PA      | $4623559.83   | 1.02%             | 2044-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARQUIS CMNTY DEV AUTH VA REV                                              | MARQUIS COMMUNITY DEVELOPMENT AUTHORITY OF YORK CO | CUSIP: 57161CAF5<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1093000 | PA      | $408235.48    | 0.09%             | 2045-09-01      | Fixed         | 7.50%                 | Yes           |                  3 | On Loan: No      |
| METROPOLITAN WASH D C ARPTS AUTH ARPT SYS REV                              | METROPOLITAN WASHINGTON AIRPORTS AUTHORITY AVIATIO | CUSIP: 592647PE5<br>LEI: N/A | Long             | DBT              | MUN               | US        |    250000 | PA      | $265508.71    | 0.06%             | 2055-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GUAM GOVT BUSINESS PRIVILEGE TAX REV                                       | TERRITORY OF GUAM                                  | CUSIP: 40065NCJ4<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2004696.20   | 0.44%             | 2039-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROCKINGHAM CNTY VA ECONOMIC DEV AUTH RESIDENTIAL CARE FACS REV             | ROCKINGHAM CNTY VA ECON DEV AUTH                   | CUSIP: 773455AP5<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $979436.04    | 0.22%             | 2033-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ROANOKE VA ECONOMIC DEV AUTH HOSP REV                                      | ROANOKE ECONOMIC DEVELOPMENT AUTHORITY             | CUSIP: 770082BZ7<br>LEI: N/A | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4983642.20   | 1.09%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COMWLTH UNIV HEALTH SYS AUTH REV                                  | VIRGINIA COMMONWEALTH UNIVERSITY HEALTH SYSTEM AUT | CUSIP: 92778LDC1<br>LEI: N/A | Long             | DBT              | MUN               | US        |   5500000 | PA      | $5369553.76   | 1.18%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HENRICO CNTY VA ECONOMIC DEV AUTH RESIDENTIAL CARE FAC REV                 | HENRICO COUNTY ECONOMIC DEVELOPMENT AUTHORITY      | CUSIP: 42605QHN6<br>LEI: N/A | Long             | DBT              | MUN               | US        |   7380000 | PA      | $7336477.41   | 1.61%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON CNTY VA INDL DEV AUTH REV                                        | ARLINGTON COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY  | CUSIP: 04144REK1<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1775000 | PA      | $1789945.42   | 0.39%             | 2043-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COLLEGE BLDG AUTH VA EDL FACS REV                                 | VIRGINIA COLLEGE BUILDING AUTHORITY                | CUSIP: 92778FKQ5<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $826044.08    | 0.18%             | 2046-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COLLEGE BLDG AUTH VA EDL FACS REV                                 | VIRGINIA COLLEGE BUILDING AUTHORITY                | CUSIP: 92778FKH5<br>LEI: N/A | Long             | DBT              | MUN               | US        |    275000 | PA      | $284730.45    | 0.06%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PRINCE EDWARD CNTY VA INDL DEV AUTH EDL FACS REV                           | PRINCE EDWARD COUNTY INDUSTRIAL DEVELOPMENT AUTHOR | CUSIP: 741654AU1<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2055000 | PA      | $1939409.23   | 0.43%             | 2048-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FAIRFAX CNTY VA SWR REV                                                    | COUNTY OF FAIRFAX VA SEWER REVENUE                 | CUSIP: 303867MD4<br>LEI: N/A | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10242605.59  | 2.25%             | 2046-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORFOLK VA ECONOMIC DEV AUTH HOSP FACS REV                                 | NORFOLK ECONOMIC DEVELOPMENT AUTHORITY             | CUSIP: 65588TAS8<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1708150.51   | 0.38%             | 2048-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FING AUTH HEALTHCARE FACS REV                      | VIRGINIA ST SMALL BUSINESS FING AUTH HLTHCARE FACS | CUSIP: 928105BZ7<br>LEI: N/A | Long             | DBT              | MUN               | US        |  15830000 | PA      | $13103399.89  | 2.88%             | 2049-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HENRICO CNTY VA ECONOMIC DEV AUTH RESIDENTIAL CARE FAC REV                 | HENRICO CNTY VA ECON DEV AUTH RSDL CARE FAC REVENU | CUSIP: 42605QGX5<br>LEI: N/A | Long             | DBT              | MUN               | US        |    500000 | PA      | $475463.33    | 0.10%             | 2040-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY VA UNIV REVS                                                    | UNIVERSITY OF VIRGINIA                             | CUSIP: 915217WE9<br>LEI: N/A | Long             | DBT              | MUN               | US        |   3600000 | PA      | $3222606.17   | 0.71%             | 2045-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SALEM VA ECONOMIC DEV AUTH EDL FACS REV                                    | SALEM ECONOMIC DEVELOPMENT AUTHORITY               | CUSIP: 794565AW1<br>LEI: N/A | Long             | DBT              | MUN               | US        |    250000 | PA      | $218526.19    | 0.05%             | 2040-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FING AUTH REV                                      | VIRGINIA SMALL BUSINESS FINANCING AUTHORITY        | CUSIP: 928104NC8<br>LEI: N/A | Long             | DBT              | MUN               | US        |  16265000 | PA      | $13150753.58  | 2.89%             | 2051-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LEXINGTON VA INDL DEV AUTH RESIDENTIAL CARE FAC REV                        | LEXINGTON INDUSTRIAL DEVELOPMENT AUTHORITY         | CUSIP: 52976BBW5<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $943756.33    | 0.21%             | 2037-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LEWISTOWN COMM CTR CMNTY DEV AUTH VA REV                                   | LEWISTOWN COMMERCE CENTER COMMUNITY DEVELOPMENT AU | CUSIP: 528734AH9<br>LEI: N/A | Long             | DBT              | MUN               | US        |    656212 | PA      | $459348.69    | 0.10%             | 2044-03-01      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| GUAM GOVT BUSINESS PRIVILEGE TAX REV                                       | TERRITORY OF GUAM                                  | CUSIP: 40065NCP0<br>LEI: N/A | Long             | DBT              | MUN               | US        |    500000 | PA      | $541129.26    | 0.12%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP VA                                            | TOBACCO SETTLEMENT FINANCING CORP VA               | CUSIP: 88880NAU3<br>LEI: N/A | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4177290.73   | 0.92%             | 2047-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASH D C ARPTS AUTH DULLES TOLL RD REV                        | METROPOLITAN WASHINGTON AIRPORTS AUTHORITY DULLES  | CUSIP: 592643DJ6<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1220817.49   | 0.27%             | 2053-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LEWISTOWN COMM CTR CMNTY DEV AUTH VA REV                                   | LEWISTOWN COMMERCE CENTER COMMUNITY DEVELOPMENT AU | CUSIP: 528734AJ5<br>LEI: N/A | Long             | DBT              | MUN               | US        |    610000 | PA      | $489033.41    | 0.11%             | 2044-03-01      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASH D C ARPTS AUTH DULLES TOLL RD REV                        | WASHINGTON DC AIRPORTS AUTHORITY TOLL ROAD REV     | CUSIP: 592643CV0<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1500277.29   | 0.33%             | 2044-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LYNCHBURG VA ECONOMIC DEV AUTH HOSP REV                                    | LYNCHBURG ECONOMIC DEVELOPMENT AUTHORITY           | CUSIP: 55123TBS0<br>LEI: N/A | Long             | DBT              | MUN               | US        |  14420000 | PA      | $11244241.22  | 2.47%             | 2055-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GUAM PWR AUTH REV                                                          | GUAM POWER AUTHORITY                               | CUSIP: 400653KG5<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1522936.71   | 0.33%             | 2041-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JAMES CITY CNTY VA ECONOMIC DEV AUTH RESIDENTIAL CARE FAC REV              | JAMES CITY COUNTY ECONOMIC DEVELOPMENT AUTHORITY   | CUSIP: 47029WEF0<br>LEI: N/A | Long             | DBT              | MUN               | US        |    855000 | PA      | $895585.04    | 0.20%             | 2053-12-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST RES AUTH INFRASTRUCTURE REV                                    | VIRGINIA ST RESOURCES AUTH INFRASTRUCTURE REVENUE  | CUSIP: 92818NKZ0<br>LEI: N/A | Long             | DBT              | MUN               | US        |     15000 | PA      | $15022.21     | 0.00%             | 2032-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GUAM PWR AUTH REV                                                          | GUAM POWER AUTHORITY                               | CUSIP: 400653LE9<br>LEI: N/A | Long             | DBT              | MUN               | US        |    200000 | PA      | $200777.13    | 0.04%             | 2043-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASH D C ARPTS AUTH ARPT SYS REV                              | METROPOLITAN WASHINGTON AIRPORTS AUTHORITY AVIATIO | CUSIP: 592647MC2<br>LEI: N/A | Long             | DBT              | MUN               | US        |   3160000 | PA      | $3183339.57   | 0.70%             | 2048-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CHESAPEAKE BAY BRDG & TUNL DIST VA REV                                     | CHESAPEAKE BAY BRIDGE TUNNEL DISTRICT              | CUSIP: 16514PAC3<br>LEI: N/A | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5011702.35   | 1.10%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COLLEGE BLDG AUTH VA EDL FACS REV                                 | VIRGINIA COLLEGE BUILDING AUTHORITY                | CUSIP: 92778FKG7<br>LEI: N/A | Long             | DBT              | MUN               | US        |    250000 | PA      | $253871.15    | 0.06%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALEM VA ECONOMIC DEV AUTH EDL FACS REV                                    | SALEM ECONOMIC DEVELOPMENT AUTHORITY               | CUSIP: 794565AV3<br>LEI: N/A | Long             | DBT              | MUN               | US        |    225000 | PA      | $201154.55    | 0.04%             | 2039-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASH D C ARPTS AUTH ARPT SYS REV                              | METROPOLITAN WASHINGTON AIRPORTS AUTHORITY AVIATIO | CUSIP: 592647ME8<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2175000 | PA      | $1948475.06   | 0.43%             | 2053-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| HENRICO CNTY VA ECONOMIC DEV AUTH RESIDENTIAL CARE FAC REV                 | HENRICO COUNTY ECONOMIC DEVELOPMENT AUTHORITY      | CUSIP: 42605QHM8<br>LEI: N/A | Long             | DBT              | MUN               | US        |    945000 | PA      | $935585.33    | 0.21%             | 2047-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHESAPEAKE BAY BRDG & TUNL DIST VA REV                                     | CHESAPEAKE BAY BRIDGE TUNNEL DISTRICT              | CUSIP: 16514PAE9<br>LEI: N/A | Long             | DBT              | MUN               | US        |   6400000 | PA      | $6175628.42   | 1.36%             | 2051-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COLLEGE BLDG AUTH VA EDL FACS REV                                 | VIRGINIA COLLEGE BUILDING AUTHORITY                | CUSIP: 92778FKM4<br>LEI: N/A | Long             | DBT              | MUN               | US        |    300000 | PA      | $328583.70    | 0.07%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JAMES CITY CNTY VA ECONOMIC DEV AUTH RESIDENTIAL CARE FAC REV              | JAMES CITY COUNTY ECONOMIC DEVELOPMENT AUTHORITY   | CUSIP: 47029WDR5<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $747735.90    | 0.16%             | 2047-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST HSG DEV AUTH                                                   | VIRGINIA HOUSING DEVELOPMENT AUTHORITY             | CUSIP: 92812WBW3<br>LEI: N/A | Long             | DBT              | MUN               | US        |    665000 | PA      | $556619.64    | 0.12%             | 2033-12-01      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| GUAM GOVT HOTEL OCCUPANCY TAX REV                                          | TERRITORY OF GUAM                                  | CUSIP: 40065KAQ6<br>LEI: N/A | Long             | DBT              | MUN               | US        |    200000 | PA      | $206320.40    | 0.05%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FRONT ROYAL & WARREN CNTY VA INDL DEV AUTH REV                             | FRONT ROYAL WARREN COUNTY INDUSTRIAL DEVELOPMENT   | CUSIP: 359023CY2<br>LEI: N/A | Long             | DBT              | MUN               | US        |   7000000 | PA      | $5908911.74   | 1.30%             | 2050-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RICHMOND VA PUB UTIL REV                                                   | CITY OF RICHMOND VA PUBLIC UTILITY REVENUE         | CUSIP: 765433KR7<br>LEI: N/A | Long             | DBT              | MUN               | US        |   6000000 | PA      | $5611501.92   | 1.23%             | 2040-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HAMPTON RDS TRANSN ACCOUNTABILITY COMMN VA HAMPTON RDS TRANSN FD REV       | HAMPTON ROADS TRANSPORTATION ACCOUNTABILITY COMMIS | CUSIP: 409328BR1<br>LEI: N/A | Long             | DBT              | MUN               | US        |   6000000 | PA      | $5062776.03   | 1.11%             | 2052-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LEWISTOWN COMM CTR CMNTY DEV AUTH VA REV                                   | LEWISTOWN COMMERCE CENTER COMMUNITY DEVELOPMENT AU | CUSIP: 528734AK2<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2598517 | PA      | $1091377.14   | 0.24%             | 2054-03-01      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| JAMES CITY CNTY VA ECONOMIC DEV AUTH RESIDENTIAL CARE FAC REV              | JAMES CITY COUNTY ECONOMIC DEVELOPMENT AUTHORITY   | CUSIP: 47029WED5<br>LEI: N/A | Long             | DBT              | MUN               | US        |   9905000 | PA      | $7597946.31   | 1.67%             | 2050-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON D C MET AREA TRAN AUTH DEDICATED REV                            | WASHINGTON METROPOLITAN AREA TRANSIT AUTHORITY     | CUSIP: 93878YAU3<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2198027.61   | 0.48%             | 2045-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PRINCE WILLIAM CNTY VA INDL DEV AUTH RESIDENTIAL CARE FAC REV              | PRINCE WILLIAM COUNTY INDUSTRIAL DEVELOPMENT AUTHO | CUSIP: 741756CB4<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $947457.58    | 0.21%             | 2037-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WESTERN VA REGL JAIL AUTH VA REGL JAIL FAC REV                             | WSTRN VA REGL JAIL AUTH REGL JAIL FACS REVENUE     | CUSIP: 95984REB2<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1540000 | PA      | $1573260.18   | 0.35%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA BEACH VA DEV AUTH RESIDENTIAL CARE FAC REV                        | VIRGINIA BEACH DEVELOPMENT AUTHORITY               | CUSIP: 92774NAW0<br>LEI: N/A | Long             | DBT              | MUN               | US        |   3250000 | PA      | $3151493.55   | 0.69%             | 2040-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST HSG DEV AUTH COMWLTH MTG                                       | VIRGINIA HOUSING DEVELOPMENT AUTHORITY             | CUSIP: 92812XFH0<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1160405.35   | 0.25%             | 2055-07-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| GUAM GOVT WTRWKS AUTH WTR & WASTEWTR SYS REV                               | GUAM GOVERNMENT WATERWORKS AUTHORITY               | CUSIP: 40065FFK5<br>LEI: N/A | Long             | DBT              | MUN               | US        |    750000 | PA      | $762667.64    | 0.17%             | 2055-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COLLEGE BLDG AUTH VA EDL FACS REV                                 | VIRGINIA COLLEGE BUILDING AUTHORITY                | CUSIP: 92778FJL8<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $729351.81    | 0.16%             | 2046-01-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST HSG DEV AUTH                                                   | VIRGINIA ST HSG DEV AUTH                           | CUSIP: 92812WGC2<br>LEI: N/A | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4944522.86   | 1.09%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST HSG DEV AUTH                                                   | VIRGINIA HOUSING DEVELOPMENT AUTHORITY             | CUSIP: 92812VJP2<br>LEI: N/A | Long             | DBT              | MUN               | US        |   6555000 | PA      | $5306134.77   | 1.17%             | 2046-05-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| GUAM PWR AUTH REV                                                          | GUAM POWER AUTHORITY                               | CUSIP: 400653JL6<br>LEI: N/A | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3966862.18   | 0.87%             | 2040-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COLLEGE BLDG AUTH VA EDL FACS REV                                 | VIRGINIA COLLEGE BUILDING AUTHORITY                | CUSIP: 92778FAX1<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1285000 | PA      | $1122632.58   | 0.25%             | 2043-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FAIRFAX CNTY VA INDL DEV AUTH REV                                          | FAIRFAX COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY    | CUSIP: 303823MW5<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1278393.86   | 0.28%             | 2048-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GUAM PWR AUTH REV                                                          | GUAM POWER AUTHORITY                               | CUSIP: 400653LF6<br>LEI: N/A | Long             | DBT              | MUN               | US        |    225000 | PA      | $224348.79    | 0.05%             | 2044-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RADFORD VA INDL DEV AUTH MULTIFAMILY HSG REV                               | RADFORD INDUSTRIAL DEVELOPMENT AUTHORITY           | CUSIP: 750218AQ2<br>LEI: N/A | Long             | DBT              | MUN               | US        |   3910000 | PA      | $3910444.78   | 0.86%             | 2029-09-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COLLEGE BLDG AUTH VA EDL FACS REV                                 | VIRGINIA COLLEGE BUILDING AUTHORITY                | CUSIP: 92778FKJ1<br>LEI: N/A | Long             | DBT              | MUN               | US        |    295000 | PA      | $310985.96    | 0.07%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST HSG DEV AUTH                                                   | VIRGINIA HOUSING DEVELOPMENT AUTHORITY             | CUSIP: 92812VP67<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1500000 | PA      | $959390.43    | 0.21%             | 2045-11-01      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| STAFFORD CNTY VA ECONOMIC DEV AUTH HOSP FACS REV                           | STAFFORD COUNTY ECONOMIC DEVELOPMENT AUTHORITY     | CUSIP: 852431BL8<br>LEI: N/A | Long             | DBT              | MUN               | US        |   5900000 | PA      | $5955870.22   | 1.31%             | 2036-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BRISTOL VA INDL DEV AUTH LEASE REV                                         | BRISTOL INDUSTRIAL DEVELOPMENT AUTHORITY           | CUSIP: 110363AN8<br>LEI: N/A | Long             | DBT              | MUN               | US        |   8030000 | PA      | $8046261.31   | 1.77%             | 2053-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHESAPEAKE VA HOSP AUTH HOSP FAC REV                                       | CHESAPEAKE VA HOSPITAL AUTHORITY HOSPITATLITY REV  | CUSIP: 16532VBQ6<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $917468.95    | 0.20%             | 2039-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HENRICO CNTY VA ECONOMIC DEV AUTH RESIDENTIAL CARE FAC REV                 | HENRICO COUNTY ECONOMIC DEVELOPMENT AUTHORITY      | CUSIP: 42605QEA7<br>LEI: N/A | Long             | DBT              | MUN               | US        |    140000 | PA      | $140057.33    | 0.03%             | 2026-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| LYNCHBURG VA ECONOMIC DEV AUTH HOSP REV                                    | LYNCHBURG ECONOMIC DEVELOPMENT AUTHORITY           | CUSIP: 55123TBP6<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1135000 | PA      | $1022533.67   | 0.22%             | 2041-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GUAM GOVT HOTEL OCCUPANCY TAX REV                                          | TERRITORY OF GUAM                                  | CUSIP: 40065KAT0<br>LEI: N/A | Long             | DBT              | MUN               | US        |    250000 | PA      | $266002.04    | 0.06%             | 2030-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST HSG DEV AUTH                                                   | VIRGINIA HOUSING DEVELOPMENT AUTHORITY             | CUSIP: 92812WLQ5<br>LEI: N/A | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3023652.19   | 0.66%             | 2058-10-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST HSG DEV AUTH                                                   | VIRGINIA HOUSING DEVELOPMENT AUTHORITY             | CUSIP: 92812WGT5<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1744322.30   | 0.38%             | 2052-11-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST HSG DEV AUTH COMWLTH MTG                                       | VIRGINIA HOUSING DEVELOPMENT AUTHORITY             | CUSIP: 92812XGM8<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $919587.55    | 0.20%             | 2055-07-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST HSG DEV AUTH                                                   | VIRGINIA HOUSING DEVELOPMENT AUTHORITY             | CUSIP: 92812WKW3<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1420932.88   | 0.31%             | 2053-08-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY VA UNIV REVS                                                    | UNIVERSITY OF VIRGINIA                             | CUSIP: 915217XB4<br>LEI: N/A | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10050838.47  | 2.21%             | 2049-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PETERSBURG VA                                                              | CITY OF PETERSBURG VA                              | CUSIP: 716298RX4<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1112686.92   | 0.24%             | 2053-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ARLINGTON CNTY VA INDL DEV AUTH HOSP FAC REV                               | ARLINGTON CNTY VA INDL DEV                         | CUSIP: 041438HD7<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1585000 | PA      | $1368442.51   | 0.30%             | 2045-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WESTERN VA REGL JAIL AUTH VA REGL JAIL FAC REV                             | WSTRN VA REGL JAIL AUTH REGL JAIL FACS REVENUE     | CUSIP: 95984REE6<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1021643.83   | 0.22%             | 2038-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA BEACH VA DEV AUTH RESIDENTIAL CARE FAC REV                        | VIRGINIA BEACH VA DEV AUTH RSDL CARE FAC REVENUE   | CUSIP: 92774NAY6<br>LEI: N/A | Long             | DBT              | MUN               | US        |   3755000 | PA      | $2827718.23   | 0.62%             | 2048-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MARQUIS CMNTY DEV AUTH VA REV                                              | MARQUIS COMMUNITY DEVELOPMENT AUTHORITY OF YORK CO | CUSIP: 57161CAD0<br>LEI: N/A | Long             | DBT              | MUN               | US        |   3532000 | PA      | $1319201.95   | 0.29%             | 2041-09-01      | Fixed         | 5.62%                 | No            |                  3 | On Loan: No      |
| AMHERST VA INDL DEV AUTH REV                                               | AMHERST INDUSTRIAL DEVELOPMENT AUTHORITY VA        | CUSIP: 031489BW6<br>LEI: N/A | Long             | DBT              | MUN               | US        |    580000 | PA      | $580113.10    | 0.13%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALEXANDRIA VA INDL DEV AUTH EDL FACS REV                                   | ALEXANDRIA INDUSTRIAL DEVELOPMENT AUTHORITY        | CUSIP: 015304FV5<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2400000 | PA      | $2086281.37   | 0.46%             | 2046-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FAIRFAX CNTY VA INDL DEV AUTH REV                                          | FAIRFAX COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY    | CUSIP: 303823KY3<br>LEI: N/A | Long             | DBT              | MUN               | US        |   6900000 | PA      | $6229312.55   | 1.37%             | 2044-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BK SPEARS/LIFERS TR VAR STS                                       | DEUTSCHE BANK SPEARS LIFERS TRUST                  | CUSIP: 25155W8H5<br>LEI: N/A | Long             | DBT              | MUN               | US        |   5900000 | PA      | $5900000.00   | 1.30%             | 2063-06-01      | Floating      | 4.15%                 | Yes           |                  2 | On Loan: No      |
| VIRGINIA COMMLTH TRANSN BRD FED TRANSN GRNT ANTIC REV                      | VIRGINIA COMMONWEALTH TRANSPORTATION BOARD         | CUSIP: 92778UCN8<br>LEI: N/A | Long             | DBT              | MUN               | US        |   9190000 | PA      | $9591182.57   | 2.11%             | 2032-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COMWLTH TRANSN BRD TRANSN REV                                     | VIRGINIA COMMONWEALTH TRANSPORTATION BOARD         | CUSIP: 927793C72<br>LEI: N/A | Long             | DBT              | MUN               | US        |  10000000 | PA      | $9127247.62   | 2.00%             | 2042-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST RES AUTH INFRASTRUCTURE REV                                    | VIRGINIA RESOURCES AUTHORITY                       | CUSIP: 92818NM88<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1040000 | PA      | $919986.29    | 0.20%             | 2047-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PETERSBURG VA                                                              | CITY OF PETERSBURG VA                              | CUSIP: 716298RW6<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $912002.72    | 0.20%             | 2048-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| HENRICO CNTY VA ECONOMIC DEV AUTH RESIDENTIAL CARE FAC REV                 | HENRICO COUNTY ECONOMIC DEVELOPMENT AUTHORITY      | CUSIP: 42605QHK2<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1018166.50   | 0.22%             | 2042-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HENRICO CNTY VA ECONOMIC DEV AUTH RESIDENTIAL CARE FAC REV                 | HENRICO COUNTY ECONOMIC DEVELOPMENT AUTHORITY      | CUSIP: 42605QGE7<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2507704.54   | 0.55%             | 2037-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PRINCE EDWARD CNTY VA INDL DEV AUTH EDL FACS REV                           | PRINCE EDWARD COUNTY INDUSTRIAL DEVELOPMENT AUTHOR | CUSIP: 741654BR7<br>LEI: N/A | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2963987.73   | 0.65%             | 2057-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HENRICO CNTY VA ECONOMIC DEV AUTH RESIDENTIAL CARE FAC REV                 | HENRICO CNTY VA ECON DEV AUTH RSDL CARE FAC REVENU | CUSIP: 42605QGZ0<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1269975.24   | 0.28%             | 2050-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COLLEGE BLDG AUTH VA EDL FACS REV                                 | VIRGINIA COLLEGE BUILDING AUTHORITY                | CUSIP: 92778FLZ4<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1544304.31   | 0.34%             | 2055-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GUAM GOVT HOTEL OCCUPANCY TAX REV                                          | TERRITORY OF GUAM                                  | CUSIP: 40065KAU7<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2050336.00   | 0.45%             | 2035-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST HSG DEV AUTH                                                   | VIRGINIA HOUSING DEVELOPMENT AUTHORITY             | CUSIP: 92812VH66<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1640000 | PA      | $1041291.27   | 0.23%             | 2050-07-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| CAPITAL REGION ARPT COMMN VA ARPT REV                                      | CAPITAL REGION AIRPORT COMMISSION                  | CUSIP: 140442FW9<br>LEI: N/A | Long             | DBT              | MUN               | US        |    750000 | PA      | $709339.49    | 0.16%             | 2038-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WINCHESTER VA ECONOMIC DEV AUTH HOSP REV                                   | WINCHESTER ECONOMIC DEVELOPMENT AUTHORITY          | CUSIP: 973121BN5<br>LEI: N/A | Long             | DBT              | MUN               | US        |   3250000 | PA      | $3179243.22   | 0.70%             | 2044-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHARLES CITY CNTY VA ECONOMIC DEV AUTH SOLID WASTE DISP REV                | CHARLES CITY COUNTY ECONOMIC DEVELOPMENT AUTHORITY | CUSIP: 15976RAC2<br>LEI: N/A | Long             | DBT              | MUN               | US        |  10000000 | PA      | $9695394.14   | 2.13%             | 2029-02-01      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| FARMVILLE VA INDL DEV AUTH EDL FACS REV                                    | FARMVILLE INDUSTRIAL DEVELOPMENT AUTHORITY         | CUSIP: 311617BF0<br>LEI: N/A | Long             | DBT              | MUN               | US        |   5800000 | PA      | $6086362.17   | 1.34%             | 2053-07-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY VA ECONOMIC DEV AUTH REV                                   | MONTGOMERY COUNTY ECONOMIC DEVELOPMENT AUTHORITY   | CUSIP: 613741KH9<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1686378.12   | 0.37%             | 2038-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GUAM GOVT BUSINESS PRIVILEGE TAX REV                                       | TERRITORY OF GUAM                                  | CUSIP: 40065NCR6<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $855714.34    | 0.19%             | 2042-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FING AUTH REV                                      | VIRGINIA SMALL BUSINESS FINANCING AUTHORITY        | CUSIP: 928104NB0<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2800000 | PA      | $2390619.63   | 0.53%             | 2045-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COLLEGE BLDG AUTH VA EDL FACS REV                                 | VIRGINIA COLLEGE BUILDING AUTHORITY                | CUSIP: 92778FKN2<br>LEI: N/A | Long             | DBT              | MUN               | US        |    925000 | PA      | $914453.66    | 0.20%             | 2036-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MARQUIS CMNTY DEV AUTH VA REV                                              | MARQUIS COMMUNITY DEVELOPMENT AUTHORITY OF YORK CO | CUSIP: 57161CAE8<br>LEI: N/A | Long             | DBT              | MUN               | US        |   5389000 | PA      | $5389.00      | 0.00%             | 2041-09-01      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| RICHMOND VA PUB UTIL REV                                                   | RICHMOND VA PUBLIC UTILITY REVENUE                 | CUSIP: 765433LK1<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2220000 | PA      | $1907713.76   | 0.42%             | 2050-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| STAFFORD CNTY VA ECONOMIC DEV AUTH HOSP FACS REV                           | STAFFORD COUNTY ECONOMIC DEVELOPMENT AUTHORITY     | CUSIP: 852431BM6<br>LEI: N/A | Long             | DBT              | MUN               | US        |   6495000 | PA      | $6105380.28   | 1.34%             | 2037-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COMMLTH TRANSN BRD FED TRANSN GRNT ANTIC REV                      | VIRGINIA COMMONWEALTH TRANSPORTATION BOARD         | CUSIP: 92778UCM0<br>LEI: N/A | Long             | DBT              | MUN               | US        |   3350000 | PA      | $3498905.45   | 0.77%             | 2032-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHESAPEAKE VA HOSP AUTH HOSP FAC REV                                       | CHESAPEAKE VA HOSPITAL AUTHORITY HOSPITATLITY REV  | CUSIP: 16532VBR4<br>LEI: N/A | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3441303.71   | 0.76%             | 2043-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST RES AUTH INFRASTRUCTURE REV                                    | VIRGINIA RESOURCES AUTHORITY                       | CUSIP: 92818NM70<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1445000 | PA      | $1341366.52   | 0.29%             | 2043-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COLLEGE BLDG AUTH VA EDL FACS REV                                 | VIRGINIA COLLEGE BUILDING AUTHORITY                | CUSIP: 92778FAS2<br>LEI: N/A | Long             | DBT              | MUN               | US        |    545000 | PA      | $544424.11    | 0.12%             | 2035-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COLLEGE BLDG AUTH VA EDL FACS REV                                 | VIRGINIA COLLEGE BUILDING AUTHORITY                | CUSIP: 92778FKL6<br>LEI: N/A | Long             | DBT              | MUN               | US        |    325000 | PA      | $352945.78    | 0.08%             | 2030-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORFOLK VA ECONOMIC DEV AUTH HOSP FACS REV                                 | NORFOLK ECONOMIC DEVELOPMENT AUTHORITY             | CUSIP: 65588TAT6<br>LEI: N/A | Long             | DBT              | MUN               | US        |   6100000 | PA      | $5127057.17   | 1.13%             | 2048-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COMWLTH UNIV REV                                                  | VIRGINIA COMMONWEALTH UNIVERSITY                   | CUSIP: 92778REY9<br>LEI: N/A | Long             | DBT              | MUN               | US        |    350000 | PA      | $359651.28    | 0.08%             | 2038-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FING AUTH REV                                      | VIRGINIA SMALL BUSINESS FINANCING AUTHORITY        | CUSIP: 928104QL5<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1882487.95   | 0.41%             | 2057-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LEXINGTON VA INDL DEV AUTH RESIDENTIAL CARE FAC REV                        | LEXINGTON INDUSTRIAL DEVELOPMENT AUTHORITY         | CUSIP: 52976BBV7<br>LEI: N/A | Long             | DBT              | MUN               | US        |    750000 | PA      | $753190.27    | 0.17%             | 2031-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORFOLK VA ARPT AUTH REV                                                   | NORFOLK AIRPORT AUTHORITY VA                       | CUSIP: 655857EJ5<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2800000 | PA      | $2824226.14   | 0.62%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON D C MET AREA TRAN AUTH GROSS REV                                | WASHINGTON METROPOLITAN AREA TRANSIT AUTHORITY     | CUSIP: 938782FT1<br>LEI: N/A | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5037608.34   | 1.11%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PRINCE EDWARD CNTY VA INDL DEV AUTH EDL FACS REV                           | PRINCE EDWARD COUNTY INDUSTRIAL DEVELOPMENT AUTHOR | CUSIP: 741654AT4<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2250000 | PA      | $1925379.92   | 0.42%             | 2043-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FING AUTH RESIDENTIAL CARE FAC REV                 | VIRGINIA SMALL BUSINESS FINANCING AUTHORITY        | CUSIP: 928103AY6<br>LEI: N/A | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4405670.70   | 0.97%             | 2054-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SALEM VA ECONOMIC DEV AUTH EDL FACS REV                                    | SALEM VA ECON DEV AUTH EDUCTNL FACS REVENUE        | CUSIP: 794565AY7<br>LEI: N/A | Long             | DBT              | MUN               | US        |    910000 | PA      | $834057.43    | 0.18%             | 2049-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROANOKE VA ECONOMIC DEV AUTH EDL FACS REV                                  | ROANOKE ECONOMIC DEVELOPMENT AUTHORITY             | CUSIP: 770080AU3<br>LEI: N/A | Long             | DBT              | MUN               | US        |   4060000 | PA      | $3671351.15   | 0.81%             | 2043-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COMWLTH TRANSN BRD TRANSN REV                                     | VIRGINIA COMMONWEALTH TRANSPORTATION BOARD         | CUSIP: 927793E62<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2003424.84   | 0.44%             | 2036-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COLLEGE BLDG AUTH VA EDL FACS REV                                 | VIRGINIA COLLEGE BUILDING AUTHORITY                | CUSIP: 92778FAQ6<br>LEI: N/A | Long             | DBT              | MUN               | US        |    965000 | PA      | $974630.86    | 0.21%             | 2033-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASH D C ARPTS AUTH DULLES TOLL RD REV                        | METROPOLITAN WASHINGTON AIRPORTS AUTHORITY DULLES  | CUSIP: 592643DR8<br>LEI: N/A | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2496874.47   | 0.55%             | 2052-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ROANOKE VA ECONOMIC DEV AUTH HOSP REV                                      | ROANOKE ECONOMIC DEVELOPMENT AUTHORITY             | CUSIP: 770082CA1<br>LEI: N/A | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4270009.23   | 0.94%             | 2051-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASH D C ARPTS AUTH ARPT SYS REV                              | METROPOLITAN WASHINGTON AIRPORTS AUTHORITY AVIATIO | CUSIP: 592647MD0<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2020303.65   | 0.44%             | 2053-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST HSG DEV AUTH COMWLTH MTG                                       | VIRGINIA HOUSING DEVELOPMENT AUTHORITY             | CUSIP: 92812U6L7<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $913302.08    | 0.20%             | 2054-10-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| GUAM GOVT LTD OBLIG REV                                                    | TERRITORY OF GUAM                                  | CUSIP: 40065HDV9<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1250284.96   | 0.27%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST RES AUTH INFRASTRUCTURE REV                                    | VIRGINIA RESOURCES AUTHORITY                       | CUSIP: 92818PMV2<br>LEI: N/A | Long             | DBT              | MUN               | US        |    750000 | PA      | $740912.82    | 0.16%             | 2052-11-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| GUAM PORT AUTH PORT REV                                                    | GUAM PORT AUTH PORT                                | CUSIP: 400652AA1<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1453167.57   | 0.32%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HENRICO CNTY VA ECONOMIC DEV AUTH RESIDENTIAL CARE FAC REV                 | HENRICO CNTY VA ECON DEV AUTH RSDL CARE FAC REVENU | CUSIP: 42605QGY3<br>LEI: N/A | Long             | DBT              | MUN               | US        |    725000 | PA      | $641379.52    | 0.14%             | 2045-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SALEM VA ECONOMIC DEV AUTH EDL FACS REV                                    | SALEM ECONOMIC DEVELOPMENT AUTHORITY               | CUSIP: 794565BL4<br>LEI: N/A | Long             | DBT              | MUN               | US        |    250000 | PA      | $256303.92    | 0.06%             | 2055-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| LYNCHBURG VA ECONOMIC DEV AUTH HOSP REV                                    | LYNCHBURG ECONOMIC DEVELOPMENT AUTHORITY           | CUSIP: 55123TAS1<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2138381.31   | 0.47%             | 2047-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GUAM GOVT HOTEL OCCUPANCY TAX REV                                          | TERRITORY OF GUAM                                  | CUSIP: 40065KAS2<br>LEI: N/A | Long             | DBT              | MUN               | US        |    250000 | PA      | $264362.93    | 0.06%             | 2029-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHESAPEAKE VA TOLL RD REV                                                  | CITY OF CHESAPEAKE VA CHESAPEAKE EXPRESSWAY TOLL R | CUSIP: 16532RAR4<br>LEI: N/A | Long             | DBT              | MUN               | US        |   6520000 | PA      | $6821120.21   | 1.50%             | 2032-07-15      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| SALEM VA ECONOMIC DEV AUTH EDL FACS REV                                    | SALEM VA ECON DEV AUTH EDUCTNL FACS REVENUE        | CUSIP: 794565AX9<br>LEI: N/A | Long             | DBT              | MUN               | US        |    750000 | PA      | $608536.72    | 0.13%             | 2045-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FING AUTH RESIDENTIAL CARE FAC REV                 | VIRGINIA SMALL BUSINESS FINANCING AUTHORITY        | CUSIP: 928103AU4<br>LEI: N/A | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3098317.57   | 0.68%             | 2051-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FAIRFAX CNTY VA ECONOMIC DEV AUTH METRORAIL PKG SYS PROJ REV               | FAIRFAX COUNTY ECONOMIC DEVELOPMENT AUTHORITY      | CUSIP: 30384AAU4<br>LEI: N/A | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3959725.34   | 0.87%             | 2047-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AMHERST VA INDL DEV AUTH REV                                               | AMHERST INDUSTRIAL DEVELOPMENT AUTHORITY VA        | CUSIP: 031489BX4<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1965363.16   | 0.43%             | 2030-09-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| GUAM GOVT WTRWKS AUTH WTR & WASTEWTR SYS REV                               | GUAM GOVT WTRWKS AUTH WTR WSTWTR SYS REVENUE       | CUSIP: 40065FDF8<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $969397.20    | 0.21%             | 2050-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COLLEGE BLDG AUTH VA EDL FACS REV                                 | VIRGINIA COLLEGE BUILDING AUTHORITY                | CUSIP: 92778FAT0<br>LEI: N/A | Long             | DBT              | MUN               | US        |    650000 | PA      | $639910.25    | 0.14%             | 2036-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FING AUTH ENVIRONMENTAL FACS REV                   | VIRGINIA SMALL BUSINESS FINANCING AUTHORITY        | CUSIP: 92810RAC1<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1500744.21   | 0.33%             | 2052-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST HSG DEV AUTH                                                   | VIRGINIA HOUSING DEVELOPMENT AUTHORITY             | CUSIP: 92812WVQ4<br>LEI: N/A | Long             | DBT              | MUN               | US        |    800000 | PA      | $756192.69    | 0.17%             | 2054-12-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| LEXINGTON VA INDL DEV AUTH EDL FACS REV                                    | LEXINGTON INDUSTRIAL DEVELOPMENT AUTHORITY         | CUSIP: 52976TBG1<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $990168.76    | 0.22%             | 2048-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-30

**Name of Applicant:** Victory Portfolios III

**Signature:** Carol Trevino

**Name of Signer:** Carol Trevino

**Title:** Treasurer