# EDGAR Filing Document

**Accession Number:** 0002042316
**File Stem:** 0001752724-25-209145
**Filing Date:** 2025-8
**Character Count:** 58237
**Document Hash:** 130e6def09c75c2f7420d3668a198483
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-209145.hdr.sgml**: 20250827

**ACCESSION NUMBER**: 0001752724-25-209145

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250827

**DATE AS OF CHANGE**: 20250827

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Victory Portfolios IV
- **CENTRAL INDEX KEY:** 0002042316

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-24019
- **FILM NUMBER:** 251264046

**BUSINESS ADDRESS:**
- **STREET 1:** 15935 LA CANTERA PARKWAY
- **CITY:** SAN ANTONIO
- **STATE:** TX
- **ZIP:** 78256
- **BUSINESS PHONE:** (210) 697-3624

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

## Series and Classes Contracts Data

### Victory Pioneer AMT-Free Municipal Fund (Series ID: S000089753)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000256470 | Class C      | MNBCX           |
| C000256471 | Class Y      | PBYMX           |
| C000256472 | Class A      | PBMFX           |

## 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 IV

- **b. Investment Company Act file number:** 811-24019

- **c. CIK number of Registrant:** 0002042316

- **d. LEI of Registrant:** 25490054DPU07WNNLY79

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

  - **Street Address 1:** 15935 LA CANTERA PARKWAY

  - **City:** SAN ANTONIO

  - **State:** TX

  - **Foreign country:** US

  - **Zip / Postal Code:** 78256

  - **Telephone number:** 210-697-3624

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

- **a. Name of Series:** Victory Pioneer AMT-Free Municipal Fund

- **b. EDGAR series identifier (if any):** S000089753

- **c. LEI of Series:** 549300YL3O4P6CF3WW53

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-06-30

**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:** $603189515.27

**Total Liabilities:** $6267394.97

**Net Assets:** $596922120.30

**Delayed Delivery Securities:** $2500000.00

**Cash Not Reported:** $1757795.99

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -69.00000000 | **1-Year:** -72.00000000 | **5-Year:** -34675.00000000 | **10-Year:** -113724.00000000 | **30-Year:** -387720.00000000

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

- **3-Month:** -17573.00000000 | **1-Year:** 0.00000000 | **5-Year:** -2787.00000000 | **10-Year:** -4.00000000 | **30-Year:** -92392.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000256470 | -1.93%               | -1.64%               | -0.02%               |
| Class ID C000256472 | -1.85%               | -1.65%               | 0.13%                |
| Class ID C000256471 | -1.99%               | -1.55%               | 0.07%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-3879813.12             | $-10716921.68                              |
| Month 2  | $-10728229.12            | $-1428433.68                               |
| Month 3  | $-561770.32              | $-1012754.33                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| PUBLIC FIN AUTH WI REVENUE     | Public Finance Authority                                                        | CUSIP: 74442PL37<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   4240000 | PA      | $4252168.80   | 0.71%             | 2061-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA ST MED CARE COM | North Carolina Medical Care Commission                                          | CUSIP: 65820YTF3<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   1610000 | PA      | $1633135.70   | 0.27%             | 2049-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST CLG BLDG AUTH EDUC | Virginia College Building Authority                                             | CUSIP: 92778WPX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8000000 | PA      | $5621680.00   | 0.94%             | 2051-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MET PIER & EXPOSITION AUTH IL  | Metropolitan Pier & Exposition Authority                                        | CUSIP: 592249AC0<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   1385000 | PA      | $1419680.40   | 0.24%             | 2026-07-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| LANCASTER PA MUNI AUTH HLTHCAR | Lancaster Municipal Authority                                                   | CUSIP: 514350AP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    530000 | PA      | $482310.60    | 0.08%             | 2059-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV | Colorado Health Facilities Authority                                            | CUSIP: 19648FYU2<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   7040000 | PA      | $5124556.80   | 0.86%             | 2051-11-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SALT RIVER AZ PROJ AGRIC IMPT& | Salt River Project Agricultural Improvement & Power District                    | CUSIP: 79574CFR9<br>LEI: SHB8HO6GKXJ83RX5OV39 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10396200.00  | 1.74%             | 2053-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST SMALL BUSINESS FIN | Virginia Small Business Financing Authority                                     | CUSIP: 928103AY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3518550.00   | 0.59%             | 2054-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA HGR EDU & H | Montgomery County Higher Education and Health Authority                         | CUSIP: 613603L64<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $8242300.00   | 1.38%             | 2056-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH STUDENT HS | Indiana Finance Authority                                                       | CUSIP: 45471FAZ4<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1454460.00   | 0.24%             | 2064-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL                     | City of Chicago IL                                                              | CUSIP: 167486E39<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |  10350000 | PA      | $10361385.00  | 1.74%             | 2049-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R | Massachusetts Development Finance Agency                                        | CUSIP: 57585BKB3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2570575.00   | 0.43%             | 2050-08-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UNION CNTY NC ENTERPRISE SYS R | County of Union NC Enterprise System Revenue                                    | CUSIP: 906400GE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5920000 | PA      | $4108361.60   | 0.69%             | 2051-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX CULTURAL EDU FA | Harris County Cultural Education Facilities Finance Corp                        | CUSIP: 414009QY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $6924200.00   | 1.16%             | 2051-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BUCKEYE OH TOBACCO SETTLEMENT  | Buckeye Tobacco Settlement Financing Authority                                  | CUSIP: 118217CZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9000000 | PA      | $7661250.00   | 1.28%             | 2055-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA INDL DEV AU | Montgomery County Industrial Development Authority/PA                           | CUSIP: 613609K88<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2523300.00   | 0.42%             | 2049-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST EDUCTNL FACS AUT | California Educational Facilities Authority                                     | CUSIP: 130179XC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  13000000 | PA      | $14858090.00  | 2.49%             | 2055-03-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| IOWA ST FIN AUTH REVENUE       | Iowa Finance Authority                                                          | CUSIP: 46247SFV1<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |   6500000 | PA      | $6077565.00   | 1.02%             | 2059-05-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES | New York State Dormitory Authority                                              | CUSIP: 65000B7Y8<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1660000.00   | 0.28%             | 2054-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SWAMPSCOTT MA                  | Town of Swampscott MA                                                           | CUSIP: 869648ZN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2146050.00   | 0.36%             | 2052-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CONROE TX INDEP SCH DIST       | Conroe Independent School District                                              | CUSIP: 2084185M1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1765820.00   | 0.30%             | 2050-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MIDA CORMONT PUBLIC INFRASTRUC | Mida Cormont Public Infrastructure District                                     | CUSIP: 59561JAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1521945.00   | 0.25%             | 2055-06-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| TARRANT CNTY TX CULTURAL EDU F | Tarrant County Cultural Education Facilities Finance Corp                       | CUSIP: 87638QQR3<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |   8000000 | PA      | $5464640.00   | 0.92%             | 2050-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| LONG BEACH CA BOND FIN AUTH NA | Long Beach Bond Finance Authority                                               | CUSIP: 54241AAZ6<br>LEI: 549300BKBZ5U7OZH3S21 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3298650.00   | 0.55%             | 2037-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PASSAIC CNTY NJ IMPT AUTH CHRT | Passaic County Improvement Authority/The                                        | CUSIP: 70275QAL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $973150.00    | 0.16%             | 2040-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL GAS INC GA | Main Street Natural Gas Inc                                                     | CUSIP: 56035DBU5<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1864480.00   | 0.31%             | 2039-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST HOSP REVENUE           | State of Ohio                                                                   | CUSIP: 67756CFY9<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |  16780000 | PA      | $14228265.40  | 2.38%             | 2050-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH ST PERSO | New York State Dormitory Authority                                              | CUSIP: 64990KFW8<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |      5000 | PA      | $5783.45      | 0.00%             | 2052-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TEXAS WTR DEV BRD REVENUE      | Texas Water Development Board                                                   | CUSIP: 88285ABJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1497405.00   | 0.25%             | 2052-10-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMISSI | Washington State Housing Finance Commission                                     | CUSIP: 93978LJQ0<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   6500000 | PA      | $6404385.00   | 1.07%             | 2064-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST LIBERTY DEV CORP L | New York Liberty Development Corp                                               | CUSIP: 649519DW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  15000000 | PA      | $10079250.00  | 1.69%             | 2051-11-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH STUDENT HS | Indiana Finance Authority                                                       | CUSIP: 45471FAX9<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1223885.00   | 0.21%             | 2054-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENVER CO HLTH & HOSP AUTH HLT | Denver Health & Hospital Authority                                              | CUSIP: 24918EEP1<br>LEI: 549300WFV5S7GIR4OS67 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1054970.00   | 0.18%             | 2055-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST TURNPIKE AUTH TURNP | State of Florida Department of Transportation Turnpike System Revenue           | CUSIP: 343137MR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  16000000 | PA      | $11899680.00  | 1.99%             | 2051-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REV | Colorado Health Facilities Authority                                            | CUSIP: 19648FZK3<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3483235.00   | 0.58%             | 2055-12-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CLIFTON TX HGR EDU FIN CORP ED | Clifton Higher Education Finance Corp                                           | CUSIP: 187145TN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2042370.00   | 0.34%             | 2054-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA ST MED CARE COM | North Carolina Medical Care Commission                                          | CUSIP: 65820YTT3<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2440500.00   | 0.41%             | 2055-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA HGR EDU & H | Montgomery County Higher Education and Health Authority                         | CUSIP: 613603H28<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $3347150.00   | 0.56%             | 2055-05-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| MAINE HLTH & HGR EDUCTNL FACS  | Maine Health & Higher Educational Facilities Authority                          | CUSIP: 56042R8M7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1044240.00   | 0.17%             | 2047-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY                    | City of New York NY                                                             | CUSIP: 64966QZJ2<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $3432600.00   | 0.58%             | 2051-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| POMONA CA UNIF SCH DIST        | Pomona Unified School District                                                  | CUSIP: 732096P63<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1020000 | PA      | $1114288.80   | 0.19%             | 2029-08-01      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH             | Commonwealth of Puerto Rico                                                     | CUSIP: 74514L3T2<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   4563146 | PA      | $2806334.70   | 0.47%             | 2043-11-01      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| HAMILTON CNTY & CHATTANOOGA SP | Hamilton County & Chattanooga Sports Authority                                  | CUSIP: 407081AW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1938002.50   | 0.32%             | 2055-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BEXAR CNTY TX                  | County of Bexar TX                                                              | CUSIP: 088281XB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1616300.00   | 0.27%             | 2041-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ORANGE CNTY FL HLTH FACS AUTH  | Orange County Health Facilities Authority                                       | CUSIP: 68450LJQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10870000 | PA      | $11049789.80  | 1.85%             | 2056-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FAYETTEVILLE AR SCH DIST #1    | Fayetteville School District No 1                                               | CUSIP: 312680ED9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9850000 | PA      | $8995808.00   | 1.51%             | 2050-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST HLTH FACS FING A | California Health Facilities Financing Authority                                | CUSIP: 13032UB31<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |  12900000 | PA      | $8949375.00   | 1.50%             | 2051-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BUCKEYE OH TOBACCO SETTLEMENT  | Buckeye Tobacco Settlement Financing Authority                                  | CUSIP: 118217CX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3595000 | PA      | $2984928.50   | 0.50%             | 2048-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES | New York State Dormitory Authority                                              | CUSIP: 65000B7X0<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500885.00    | 0.08%             | 2049-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY CITY TRANSITIONAL  | New York City Transitional Finance Authority                                    | CUSIP: 64972JPR3<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5317300.00   | 0.89%             | 2049-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES | New York State Dormitory Authority                                              | CUSIP: 64990G3B6<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   3135000 | PA      | $2181301.65   | 0.37%             | 2050-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BREVARD CNTY FL HLTH FACS AUTH | Brevard County Health Facilities Authority                                      | CUSIP: 107416QP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4788000.00   | 0.80%             | 2052-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GOLDEN ST TOBACCO SECURITIZATI | Golden State Tobacco Securitization Corp                                        | CUSIP: 38122NB84<br>LEI: N/A                  | Long             | DBT              | MUN               | US        | 145000000 | PA      | $15168450.00  | 2.54%             | 2066-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| LANCASTER PA MUNI AUTH HLTHCAR | Lancaster Municipal Authority                                                   | CUSIP: 514350AN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $367912.00    | 0.06%             | 2054-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF NEBRASKA NE FACS CORP  | University of Nebraska Facilities Corp/The                                      | CUSIP: 914639LH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  14750000 | PA      | $10315117.50  | 1.73%             | 2054-07-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH REVENUE    | Indiana Finance Authority                                                       | CUSIP: 45506EPA5<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1944020.00   | 0.33%             | 2055-03-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| TENDER OPTION BOND TRUST       | Tender Option Bond Trust Receipts/Certificates                                  | CUSIP: 88034N4U5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7050000 | PA      | $4404840.00   | 0.74%             | 2047-09-01      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| SALT RIVER AZ PROJ AGRIC IMPT& | Salt River Project Agricultural Improvement & Power District                    | CUSIP: 79574CGY3<br>LEI: SHB8HO6GKXJ83RX5OV39 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5705850.00   | 0.96%             | 2035-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMISSI | Washington State Housing Finance Commission                                     | CUSIP: 93978LHH2<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1015390.00   | 0.17%             | 2059-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| DIST OF COLUMBIA TOBACCO SETTL | District of Columbia Tobacco Settlement Financing Corp                          | CUSIP: 254842AK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7055000 | PA      | $7300372.90   | 1.22%             | 2040-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST HLTH & EDUCTNL FAC | Health & Educational Facilities Authority of the State of Missouri              | CUSIP: 60637AGP1<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3512480.00   | 0.59%             | 2045-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL O'HARE INTERNATIONA | Chicago O'Hare International Airport                                            | CUSIP: 1675935F5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2091220.00   | 0.35%             | 2059-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HSG & FIN ASSN NONPRO | Idaho Housing & Finance Association                                             | CUSIP: 45129GLG8<br>LEI: 5493002WM3NYB1LQB744 | Long             | DBT              | MUN               | US        |   2725000 | PA      | $2819530.25   | 0.47%             | 2038-11-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FL WTR & SWR R | County of Miami-Dade FL Water & Sewer System Revenue                            | CUSIP: 59334DLX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $7017500.00   | 1.18%             | 2049-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SUFFOLK REGL OFF-TRACK BETTING | Suffolk Regional Off-Track Betting Corp                                         | CUSIP: 86480TAC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4072760.00   | 0.68%             | 2053-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HSG & MTGE FIN A | New Jersey Housing & Mortgage Finance Agency                                    | CUSIP: 64613AJN3<br>LEI: 5493002ONULJL0FIGU24 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2460100.00   | 0.41%             | 2050-10-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST HSG FIN AGY SF | Pennsylvania Housing Finance Agency                                             | CUSIP: 70879QV91<br>LEI: 549300JZVUPNWP77SP29 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2511050.00   | 0.42%             | 2053-04-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST SCH FIN AUTH EDU | California School Finance Authority                                             | CUSIP: 130591BN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $599261.00    | 0.10%             | 2054-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH STUDENT HS | Indiana Finance Authority                                                       | CUSIP: 45471FAY7<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1511056.00   | 0.25%             | 2059-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY HSG DEV CORP  | New York City Housing Development Corp                                          | CUSIP: 64972EJW0<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $3510400.00   | 0.59%             | 2050-05-01      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST HSG DEV AUTH MF RE | Illinois Housing Development Authority                                          | CUSIP: 45202BSW7<br>LEI: 54930053Z6M9JVHBQZ16 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2733030.00   | 0.46%             | 2062-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ALBANY NY CAPITAL RESOURCE COR | Albany Capital Resource Corp                                                    | CUSIP: 012432EA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1076532.00   | 0.18%             | 2054-06-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                          | CUSIP: 74529JPW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1994000 | PA      | $1826922.74   | 0.31%             | 2053-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP V | Tobacco Settlement Financing Corp/VA                                            | CUSIP: 88880NAU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  16990000 | PA      | $14725912.60  | 2.47%             | 2047-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH LEASE REVENU | Illinois Finance Authority                                                      | CUSIP: 45203NCS6<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5054350.00   | 0.85%             | 2054-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MEDFORD OR HOSP FACS AUTH REVE | Medford Hospital Facilities Authority                                           | CUSIP: 584283HC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4120000 | PA      | $2859692.00   | 0.48%             | 2050-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| DELAWARE CNTY PA INDL DEV AUTH | Delaware County Industrial Development Authority/PA                             | CUSIP: 246018GA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3725000 | PA      | $3475611.25   | 0.58%             | 2046-06-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES | New York State Dormitory Authority                                              | CUSIP: 65000B4Z8<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1010110.00   | 0.17%             | 2056-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R | Massachusetts Development Finance Agency                                        | CUSIP: 57585BJU3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3393075.00   | 0.57%             | 2055-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA HGR EDU & H | Montgomery County Higher Education and Health Authority                         | CUSIP: 613603M89<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $3467200.00   | 0.58%             | 2055-05-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| INDIANAPOLIS IN LOCAL PUBLIC I | Indianapolis Local Public Improvement Bond Bank                                 | CUSIP: 45528VFS3<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |   7500000 | PA      | $7726350.00   | 1.29%             | 2055-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW HAMPSHIRE ST HLTH & EDU FA | New Hampshire Health and Education Facilities Authority Act                     | CUSIP: 64461XGY5<br>LEI: 549300CNCK7OT82W5653 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4922200.00   | 0.82%             | 2059-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GREATER TEXAS CULTURAL EDU FAC | Greater Texas Cultural Education Facilities Finance Corp                        | CUSIP: 39237QBU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7500000 | PA      | $7741350.00   | 1.30%             | 2054-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HAMILTON CNTY & CHATTANOOGA SP | Hamilton County & Chattanooga Sports Authority                                  | CUSIP: 407081AV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1359250.00   | 0.23%             | 2050-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP R | Tobacco Settlement Financing Corp/RI                                            | CUSIP: 888809AJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  20000000 | PA      | $3926000.00   | 0.66%             | 2052-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| DENVER CO HLTH & HOSP AUTH HLT | Denver Health & Hospital Authority                                              | CUSIP: 24918EEN6<br>LEI: 549300WFV5S7GIR4OS67 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $986530.00    | 0.17%             | 2050-12-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CLIFTON TX HGR EDU FIN CORP ED | Clifton Higher Education Finance Corp                                           | CUSIP: 187145VQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3250000 | PA      | $3334565.00   | 0.56%             | 2049-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R | Massachusetts Development Finance Agency                                        | CUSIP: 57584Y4T3<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   4530000 | PA      | $4485288.90   | 0.75%             | 2052-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY   | Massachusetts Development Finance Agency                                        | CUSIP: 57583FZE4<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   6600000 | PA      | $7540368.00   | 1.26%             | 2042-01-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| EP ESSENTIAL HOUSING WF PFC TX | EP Essential Housing WF PFC                                                     | CUSIP: 29416AAA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5005650.00   | 0.84%             | 2034-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST BRD OF GOVERNORS FL | Florida State Board of Governors Florida International University Dormitory Rev | CUSIP: 34114CDM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4525000 | PA      | $3281530.00   | 0.55%             | 2046-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA INDL DEV AUTH HOSP REV | Arizona Industrial Development Authority                                        | CUSIP: 04052EAX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2100000 | PA      | $1526511.00   | 0.26%             | 2045-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST EDUCTNL FACS AUT | New Jersey Educational Facilities Authority                                     | CUSIP: 646067KE7<br>LEI: 549300UTOO4X537XXG70 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3303390.00   | 0.55%             | 2064-07-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CNTY CA TOBACCO SEC | California County Tobacco Securitization Agency                                 | CUSIP: 13016NCW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  36350000 | PA      | $2659729.50   | 0.45%             | 2055-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CNTY AL SWR REVENUE  | County of Jefferson AL Sewer Revenue                                            | CUSIP: 472682ZS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  14275000 | PA      | $14657855.50  | 2.46%             | 2053-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LOWER COLORADO RIVER TX AUTH T | Lower Colorado River Authority                                                  | CUSIP: 54811BB83<br>LEI: 549300QJFPW2NNBYR215 | Long             | DBT              | MUN               | US        |   3090000 | PA      | $3245921.40   | 0.54%             | 2048-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R | Massachusetts Development Finance Agency                                        | CUSIP: 57584XYD7<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |  13020000 | PA      | $14250129.60  | 2.39%             | 2040-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SANTA PAULA CA UNIF SCH DIST   | Santa Paula Unified School District                                             | CUSIP: 802552BT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5530000 | PA      | $4015056.50   | 0.67%             | 2049-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                          | CUSIP: 74529JPX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  19000000 | PA      | $17834730.00  | 2.99%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALLENTOWN COMMERCIAL & INDL DE | Allentown Commercial and Industrial Development Authority                       | CUSIP: 01843AAN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3114650.00   | 0.52%             | 2059-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LANCASTER PA MUNI AUTH HLTHCAR | Lancaster Municipal Authority                                                   | CUSIP: 514350AM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $820341.00    | 0.14%             | 2049-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENVER CITY & CNTY CO SCH DIST | Denver City & County School District No 1                                       | CUSIP: 249174ZK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11740000 | PA      | $12697279.60  | 2.13%             | 2046-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES | New York State Dormitory Authority                                              | CUSIP: 65000BW38<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5262200.00   | 0.88%             | 2054-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA INDL DEV AU | Montgomery County Industrial Development Authority/PA                           | CUSIP: 613609N44<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1178512.50   | 0.20%             | 2054-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PASSAIC CNTY NJ IMPT AUTH CHRT | Passaic County Improvement Authority/The                                        | CUSIP: 70275QAM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $489530.00    | 0.08%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| M-S-R CA ENERGY AUTH GAS REVEN | M-S-R Energy Authority                                                          | CUSIP: 55374SAF7<br>LEI: 549300UEMSS1JTK5YB98 | Long             | DBT              | MUN               | US        |   1900000 | PA      | $2262254.00   | 0.38%             | 2039-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES | New York State Dormitory Authority                                              | CUSIP: 64990GA85<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   4290000 | PA      | $4577901.90   | 0.77%             | 2050-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HILLSBOROUGH CNTY FL INDL DEVA | Hillsborough County Industrial Development Authority                            | CUSIP: 43233AGC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8255000 | PA      | $6078321.60   | 1.02%             | 2055-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES | New York State Dormitory Authority                                              | CUSIP: 64990GYA4<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |  11400000 | PA      | $8003256.00   | 1.34%             | 2048-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| LOUDOUN CNTY VA ECON DEV AUTH  | Loudoun County Economic Development Authority                                   | CUSIP: 54601TAB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8470000 | PA      | $7649849.90   | 1.28%             | 2052-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES | New York State Dormitory Authority                                              | CUSIP: 65000B8S0<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1047470.00   | 0.18%             | 2047-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UNIV OF TEXAS TX UNIV REVENUES | Board of Regents of the University of Texas System                              | CUSIP: 91514AJV8<br>LEI: TEHUYFNKZR6XVWLGEU86 | Long             | DBT              | MUN               | US        |   8000000 | PA      | $8447840.00   | 1.42%             | 2049-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST               | Commonwealth of Massachusetts                                                   | CUSIP: 57582R2Z8<br>LEI: 5493001N1YCXNI1O7K10 | Long             | DBT              | MUN               | US        |   6190000 | PA      | $6316895.00   | 1.06%             | 2048-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOWER COLORADO RIVER TX AUTH T | Lower Colorado River Authority                                                  | CUSIP: 54811BYU9<br>LEI: 549300QJFPW2NNBYR215 | Long             | DBT              | MUN               | US        |   2625000 | PA      | $2644556.25   | 0.44%             | 2047-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY                    | City of New York NY                                                             | CUSIP: 64966SCM6<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   3995000 | PA      | $4165586.50   | 0.70%             | 2047-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST EDUCTNL FACS AUT | California Educational Facilities Authority                                     | CUSIP: 130179TN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1625865.00   | 0.27%             | 2051-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R | Massachusetts Development Finance Agency                                        | CUSIP: 57583UJ66<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2306675.00   | 0.39%             | 2044-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMISSI | Washington State Housing Finance Commission                                     | CUSIP: 93978LJN7<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1979520.00   | 0.33%             | 2055-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MIAMI FL                       | City of Miami FL                                                                | CUSIP: 59338CBV3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2595150.00   | 0.43%             | 2049-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE  | Metropolitan Transportation Authority                                           | CUSIP: 59261A2H9<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4320450.00   | 0.72%             | 2048-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MAINE HLTH & HGR EDUCTNL FACS  | Maine Health & Higher Educational Facilities Authority                          | CUSIP: 56042R8N5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1262525.00   | 0.21%             | 2052-07-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI | Pennsylvania Turnpike Commission Oil Franchise Tax Revenue                      | CUSIP: 709221VZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $8601500.00   | 1.44%             | 2051-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UTAH ST UNIV REVENUE           | Utah State University                                                           | CUSIP: 917563UE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  13110000 | PA      | $9569251.20   | 1.60%             | 2049-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL ED FACS FIN  | New Hope Cultural Education Facilities Finance Corp                             | CUSIP: 64542UHC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2290300.00   | 0.38%             | 2060-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRL TX REGL MOBILITY AUTH R | Central Texas Regional Mobility Authority                                       | CUSIP: 155498NQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $3723300.00   | 0.62%             | 2046-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NEW MEXICO ST MTGE FIN AUTH    | New Mexico Mortgage Finance Authority                                           | CUSIP: 6472014U3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1980120.00   | 0.33%             | 2055-09-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA ST MED CARE COM | North Carolina Medical Care Commission                                          | CUSIP: 65820YTG1<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   3540000 | PA      | $3554549.40   | 0.60%             | 2054-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DOWNTOWN REVITALIZATION PUBLIC | Downtown Revitalization Public Infrastructure District                          | CUSIP: 26118TAX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4193200.00   | 0.70%             | 2055-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PORT OF GTR CINCINNATI DEV AUT | Port of Greater Cincinnati Development Authority                                | CUSIP: 734195EF3<br>LEI: 549300IK2RCZBY62ST97 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1454115.00   | 0.24%             | 2063-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ENERGY S E AL A COOPERATIVE DI | Energy Southeast A Cooperative District                                         | CUSIP: 292723BN2<br>LEI: 2549001SMMZ81MXBXZ89 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3197460.00   | 0.54%             | 2054-07-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST TURNPIKE AUTH TURNP | State of Florida Department of Transportation Turnpike System Revenue           | CUSIP: 343137TJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5860000 | PA      | $5005026.00   | 0.84%             | 2054-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CNTYS NY TOBACCO TRUS | New York Counties Tobacco Trust IV                                              | CUSIP: 62947YAK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  40000000 | PA      | $2057200.00   | 0.34%             | 2060-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-27

**Name of Applicant:** Victory Portfolios IV

**Signature:** Carol Trevino

**Name of Signer:** Carol Trevino

**Title:** Treasurer