# EDGAR Filing Document

**Accession Number:** 0002042316
**File Stem:** 0000940400-26-012931
**Filing Date:** 2026-4
**Character Count:** 176659
**Document Hash:** 35b26ccf1a8be506ac3e2935a1068c56
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-012931.hdr.sgml**: 20260401

**ACCESSION NUMBER**: 0000940400-26-012931

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260130

**FILED AS OF DATE**: 20260401

**DATE AS OF CHANGE**: 20260401

**PERIOD START**: 20261031

**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:** 26827362

**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 Floating Rate Fund (Series ID: S000089773)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000256548 | Class Y      | FLYRX           |
| C000256549 | Class A      | FLARX           |
| C000256550 | Class C      | FLRCX           |

## Nport-Ex

## Victory Pioneer Floating Rate Fund
Schedule of Investments \| January 31, 2026

------

### Schedule of Investments \| 1/31/26
(unaudited)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Principal<br> Amount<br> USD ($)** |  | **Value** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**UNAFFILIATED ISSUERS — 102.3%** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Senior Secured Floating Rate Loan<br> Interests — 84.0% of Net Assets\*(a)** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Advanced Materials — 1.3%** |  |
| 445000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CoorsTek, Inc., Initial Term B Loan, 6.671% (Term SOFR + 300 bps), 10/28/32 | $448337 |
| 2709391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Groupe Solmax, Inc., Initial Term Loan, 8.684% (Term SOFR + 475 bps), 5/29/28 | &nbsp;&nbsp; 2305524 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Advanced Materials** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **2753861** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Advertising Sales — 0.4%** |  |
| 801452 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clear Channel Outdoor Holdings, Inc., 2024 Refinancing Term Loan, 7.786% (Term SOFR + 400 bps), 8/21/28 | $803055 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Advertising Sales** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **803055** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Advertising Services — 1.1%** |  |
| 480000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dotdash Meredith, Inc., Term B-2 Loan, 7.20% (Term SOFR + 350 bps), 6/17/32 | $439140 |
| 937944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neptune BidCo US, Inc., First Lien Dollar Term B Loan, 8.767% (Term SOFR + 500 bps), 4/11/29 | &nbsp;&nbsp; 924755 |
| 965,000(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neptune BidCo US, Inc., Term Loan B, 1/28/33 | &nbsp;&nbsp; 957159 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Advertising Services** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **2321054** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Aerospace & Defense — 1.0%** |  |
| 414643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goat Holdco LLC, 2026 Term B Loan, 6.172% (Term SOFR + 250 bps), 1/27/32 | $415420 |
| 547251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Karman Holdings, Inc., Initial Term Loan, 7.172% (Term SOFR + 350 bps), 4/1/32 | &nbsp;&nbsp; 550158 |
| 302,466(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Karman Holdings, Inc., Third Amendment Term Loan, 4/1/32 | &nbsp;&nbsp; 303791 |
| 778050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TransDigm, Inc., New Tranche K Term Loan, 5.922% (Term SOFR + 225 bps), 3/22/30 | &nbsp;&nbsp; 778245 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Aerospace & Defense** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **2047614** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Airlines — 0.5%** |  |
| 1001736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AAdvantage Loyalty IP Ltd. (American Airlines), 2025 Replacement Term Loan, 5.918% (Term SOFR + 225 bps), 4/20/28 | $1001360 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Airlines** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **1001360** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Airport Development & Maintenance — 0.6%** |  |
| 1303377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Apple Bidco LLC, First Lien Amendment No. 5 Term Loan, 6.172% (Term SOFR + 250 bps), 9/23/31 | $1305983 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Airport Development & Maintenance** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **1305983** |

---

1Victory Pioneer Floating Rate Fund \| 1/31/26

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Principal<br> Amount<br> USD ($)** |  | **Value** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Appliances — 1.0%** |  |
| 2217465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Osmosis Buyer Ltd., 2025 Refinancing Term B Loan, 6.854% (Term SOFR + 300 bps), 7/31/28 | $2219860 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Appliances** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **2219860** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Applications Software — 2.0%** |  |
| 1208085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EP Purchaser LLC, First Lien Closing Date Term Loan, 7.437% (Term SOFR + 350 bps), 11/6/28 | $742972 |
| 1319058 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Flash Charm, Inc., First Lien Incremental Term Loan, 7.354% (Term SOFR + 350 bps), 3/2/28 | &nbsp;&nbsp; 1171763 |
| 1248077 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RealPage, Inc., First Lien Initial Term Loan, 6.934% (Term SOFR + 300 bps), 4/24/28 | &nbsp;&nbsp; 1234036 |
| 1124205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SS&C Technologies Holdings, Inc., Term B-8 Loan, 5.672% (Term SOFR + 200 bps), 5/9/31 | &nbsp;&nbsp; 1125698 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Applications Software** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **4274469** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Auto Parts & Equipment — 0.8%** |  |
| 436721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adient US LLC, Term B-2 Loan, 5.672% (Term SOFR + 200 bps), 1/31/31 | $437322 |
| 1,250,000(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Axle & Manufacturing, Inc., Tranche C Term Loan, 6.929% (Term SOFR + 325 bps), 2/24/32 | &nbsp;&nbsp; 1255209 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Auto Parts & Equipment** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **1692531** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Auto Repair Centers — 0.7%** |  |
| 1552797 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Champions Holdco, Inc., Initial Term Loan, 8.572% (Term SOFR + 475 bps), 2/23/29 | $1451218 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Auto Repair Centers** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **1451218** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Auto-Truck Trailers — 1.1%** |  |
| 2646875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Novae LLC, Tranche B Term Loan, 8.822% (Term SOFR + 500 bps), 12/22/28 | $2443397 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Auto-Truck Trailers** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **2443397** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Building & Construction Products — 0.3%** |  |
| 442682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cornerstone Building Brands, Inc., Tranche B Term Loan, 7.03% (Term SOFR + 325 bps), 4/12/28 | $345766 |
| 378,591(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gibraltar Industries, Inc., TLB, 1/29/33 | &nbsp;&nbsp; 379538 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Building & Construction Products** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **725304** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Building Production — 2.1%** |  |
| 1208925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chariot Buyer LLC, First Lien Refinancing Term Loan, 6.422% (Term SOFR + 275 bps), 9/8/32 | $1209356 |
| 1219007 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Koppers, Inc., Term B-2 Loan, 6.18% (Term SOFR + 250 bps), 4/10/30 | &nbsp;&nbsp; 1216468 |

---

Victory Pioneer Floating Rate Fund \| 1/31/262

------

(unaudited) (continued)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Principal<br> Amount<br> USD ($)** |  | **Value** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Building Production — (continued)** |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MSOF Beacon LLC, Initial Term Loan, 6.172% (Term SOFR + 250 bps), 12/23/32 | $1001719 |
| 1007387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Quikrete Holdings, Inc., First Lien Tranche B-3 Term Loan, 5.922% (Term SOFR + 225 bps), 2/10/32 | &nbsp;&nbsp; 1008253 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Building Production** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **4435796** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Cable & Satellite Television — 0.8%** |  |
| 617218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DIRECTV Financing LLC, 2024 Refinancing Term B Loan, 9.178% (Term SOFR + 525 bps), 8/2/29 | $618954 |
| 1174000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sunrise Financing Partnership, Facility AAA, 6.129% (Term SOFR + 250 bps), 2/15/32 | &nbsp;&nbsp; 1173056 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Cable & Satellite Television** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **1792010** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Casino Services — 0.6%** |  |
| 385140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Caesars Entertainment, Inc., Incremental Term B-1 Loan, 5.922% (Term SOFR + 225 bps), 2/6/31 | $383214 |
| 89495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lucky Bucks LLC, Priority First Out Exit Term Loan, 11.658% (Term SOFR + 750 bps), 10/2/28 | &nbsp;&nbsp; 83231 |
| 187416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lucky Bucks LLC, Priority Second Out Term Loan, 6.658% (Term SOFR + 250 bps), 10/2/29 | &nbsp;&nbsp; 143373 |
| 748125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Voyager Parent LLC, 2026 Refinancing Term B Loan, 7.911% (Term SOFR + 425 bps), 7/1/32 | &nbsp;&nbsp; 748709 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Casino Services** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **1358527** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Chemicals-Diversified — 1.0%** |  |
| 1817017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ineos US Finance LLC, 2030 Dollar Term Loan, 6.922% (Term SOFR + 325 bps), 2/19/30 | $1358220 |
| 875000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SCIL IV LLC, Facility B2, 7.788% (Term SOFR + 400 bps), 11/8/32 | &nbsp;&nbsp; 877188 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Chemicals-Diversified** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **2235408** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Chemicals-Specialty — 1.7%** |  |
| 1072230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Axalta Coating Systems U.S. Holdings, Inc., Term B-7 Dollar Loan, 5.422% (Term SOFR + 175 bps), 12/20/29 | $1074576 |
| 870458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mativ Holdings, Inc., Term B Loan, 7.536% (Term SOFR + 375 bps), 4/20/28 | &nbsp;&nbsp; 867194 |
| 238922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nouryon Finance B.V., November 2024 B-1 Dollar Term Loan, 7.036% (Term SOFR + 325 bps), 4/3/28 | &nbsp;&nbsp; 239071 |
| 588071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nouryon Finance B.V., November 2024 B-2 Dollar Term Loan, 6.917% (Term SOFR + 325 bps), 4/3/28 | &nbsp;&nbsp; 587519 |
| 972000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Olympus Water US Holding Corp., Term B-6 Dollar Loan, 6.672% (Term SOFR + 300 bps), 6/20/31 | &nbsp;&nbsp; 958028 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Chemicals-Specialty** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **3726388** |

---

3Victory Pioneer Floating Rate Fund \| 1/31/26

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Principal<br> Amount<br> USD ($)** |  | **Value** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Commercial Services — 2.9%** |  |
| 960474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AEA International Holdings (Luxembourg) S.a.r.l., First Lien New Term Loan, 6.422% (Term SOFR + 275 bps), 9/7/28 | $960474 |
| 650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Camelot U.S. Acquisition LLC, Amendment No. 7 Incremental Term Loan, 6.922% (Term SOFR + 325 bps), 1/31/31 | &nbsp;&nbsp; 616416 |
| 1444995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DS Parent, Inc., Term Loan B, 9.172% (Term SOFR + 550 bps), 1/31/31 | &nbsp;&nbsp; 1307720 |
| 728175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fleet Midco I Ltd., Facility B2, 6.792% (Term SOFR + 275 bps), 2/21/31 | &nbsp;&nbsp; 730906 |
| 1010000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ION Platform Finance US, Inc., Initial Dollar Term Loan, 7.422% (Term SOFR + 375 bps), 10/7/32 | &nbsp;&nbsp; 914050 |
| 1175476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jupiter Buyer, Inc., Initial Term Loan, 7.922% (Term SOFR + 425 bps), 11/1/31 | &nbsp;&nbsp; 1187782 |
| 498750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vestis Corp., Term B-1 Loan, 6.072% (Term SOFR + 225 bps), 2/22/31 | &nbsp;&nbsp; 468202 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Commercial Services** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **6185550** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Computer Data Security — 0.8%** |  |
| 1927891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Precisely Software, Inc., First Lien Third Amendment Term Loan, 7.928% (Term SOFR + 400 bps), 4/24/28 | $1633084 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Computer Data Security** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **1633084** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Computer Services — 3.0%** |  |
| 1224450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ahead DB Holdings LLC, First Lien Term B-5 Loan, 6.172% (Term SOFR + 250 bps), 2/1/31 | $1215777 |
| 527147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amentum Holdings, Inc., Initial Term Loan, 5.672% (Term SOFR + 200 bps), 9/29/31 | &nbsp;&nbsp; 528729 |
| 217000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cyberswift US Finco LLC, Term Loan, 7.646% (Term SOFR + 400 bps), 10/8/32 | &nbsp;&nbsp; 216910 |
| 1373156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fortress Intermediate 3, Inc., Tranche B Term Loan, 6.675% (Term SOFR + 300 bps), 6/27/31 | &nbsp;&nbsp; 1337110 |
| 738722 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KBR, Inc., Term B Facility, 5.672% (Term SOFR + 200 bps), 1/17/31 | &nbsp;&nbsp; 742775 |
| 1135314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pitney Bowes, Inc., Tranche B Term Loan, 7.422% (Term SOFR + 375 bps), 3/19/32 | &nbsp;&nbsp; 1130111 |
| 1219782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Smartronix LLC, Term Loan, 8.172% (Term SOFR + 450 bps), 2/6/32 | &nbsp;&nbsp; 1221307 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Computer Services** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **6392719** |

---

Victory Pioneer Floating Rate Fund \| 1/31/264

------

(unaudited) (continued)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Principal<br> Amount<br> USD ($)** |  | **Value** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Computer Software — 0.3%** |  |
| 673750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cornerstone OnDemand, Inc., First Lien Initial Term Loan, 7.536% (Term SOFR + 375 bps), 10/16/28 | $555844 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Computer Software** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **555844** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Computers-Memory Devices — 0.2%** |  |
| 373599 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SanDisk Corp., Term B Loan, 6.669% (Term SOFR + 300 bps), 2/20/32 | $375156 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Computers-Memory Devices** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **375156** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Consulting Services — 0.7%** |  |
| 874048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ankura Consulting Group LLC, First Lien 2024-2 Repricing Term Loan, 7.171% (Term SOFR + 350 bps), 12/29/31 | $854563 |
| 741236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;First Advantage Holdings LLC, First Lien Term B-3 Loan, 6.422% (Term SOFR + 275 bps), 10/31/31 | &nbsp;&nbsp; 716220 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Consulting Services** | &nbsp;&nbsp;&nbsp; **$** **1570783** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Consumer Products — 0.4%** |  |
| 744189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reynolds Consumer Products LLC, New Term Loan, 5.422% (Term SOFR + 175 bps), 3/4/32 | $750003 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Consumer Products** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **750003** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Containers-Paper & Plastic — 0.9%** |  |
| 865186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clydesdale Acquisition Holdings, Inc., First Lien 2025 Incremental Closing Date Term B Loan, 6.922% (Term SOFR + 325 bps), 4/1/32 | $861597 |
| 1,000,000(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clydesdale Acquisition Holdings, Inc., First Lien Term B Loan, 4/13/29 | &nbsp;&nbsp; 996944 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Containers-Paper & Plastic** | &nbsp;&nbsp;&nbsp; **$** **1858541** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Cruise Lines — 0.7%** |  |
| 572750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LC Ahab US Bidco LLC, Second Amendment Incremental Term Loan, 6.672% (Term SOFR + 300 bps), 5/1/31 | $574898 |
| 912712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SGH2 LLC, Initial Dollar Term Loan, 8.172% (Term SOFR + 450 bps), 8/18/32 | &nbsp;&nbsp; 914994 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Cruise Lines** | &nbsp;&nbsp;&nbsp; **$** **1489892** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Diagnostic Kits — 0.3%** |  |
| 637,861(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hologic, Inc., Term Loan B, 1/14/33 | $633835 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Diagnostic Kits** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **633835** |

---

5Victory Pioneer Floating Rate Fund \| 1/31/26

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Principal<br> Amount<br> USD ($)** |  | **Value** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Dialysis Centers — 1.3%** |  |
| 1283799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DaVita, Inc., Tranche B-2 Term Loan, 5.422% (Term SOFR + 175 bps), 5/9/31 | $1284257 |
| 1514566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Renal Care, Inc., Closing Date Term Loan, 8.786% (Term SOFR + 500 bps), 6/28/28 | &nbsp;&nbsp; 1430082 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Dialysis Centers** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **2714339** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Disposable Medical Products — 0.3%** |  |
| 542479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Medline Borrower LP, 2030 Refinancing Term Loan, 5.422% (Term SOFR + 175 bps), 10/23/30 | $544174 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Disposable Medical Products** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **544174** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Distribution & Wholesale — 1.8%** |  |
| 1347989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AIP RD Buyer Corp., First Lien Term B Loan, 7.172% (Term SOFR + 350 bps), 12/23/30 | $1337879 |
| 1017450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Formulations Parent Corp. (aka Chase Corp.), Initial Term Loan, 7.65% (Term SOFR + 400 bps), 4/9/32 | &nbsp;&nbsp; 1019994 |
| 880792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gloves Buyer, Inc., Initial Term Loan, 7.672% (Term SOFR + 400 bps), 5/21/32 | &nbsp;&nbsp; 877049 |
| 588075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Windsor Holdings III LLC, 2025 Dollar Refinancing Term B Loan, 6.422% (Term SOFR + 275 bps), 8/1/30 | &nbsp;&nbsp; 589912 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Distribution & Wholesale** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **3824834** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Electric-Distribution — 0.2%** |  |
| 412196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lackawanna Energy Center LLC, Replacement Term B Advance, 6.675% (Term SOFR + 300 bps), 8/5/32 | $415158 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Electric-Distribution** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **415158** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Electric-Generation — 2.0%** |  |
| 643850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alpha Generation LLC, Initial Term B Loan, 5.422% (Term SOFR + 175 bps), 9/30/31 | $643972 |
| 1892482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eastern Power LLC (Eastern Covert Midco LLC), Term Loan, 8.922% (Term SOFR + 525 bps), 4/3/28 | &nbsp;&nbsp; 1905099 |
| 531889 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hamilton Projects Acquiror LLC, 2025-2 Repricing Term Loan, 6.172% (Term SOFR + 250 bps), 5/30/31 | &nbsp;&nbsp; 535047 |
| 1193984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Long Ridge Energy LLC, Term B Advance, 8.172% (Term SOFR + 450 bps), 2/19/32 | &nbsp;&nbsp; 1189507 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Electric-Generation** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **4273625** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Energy-Alternate Sources — 0.3%** |  |
| 553613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bayonne Energy Center LLC, Term B Advance, 6.672% (Term SOFR + 300 bps), 10/1/32 | $557245 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Energy-Alternate Sources** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **557245** |

---

Victory Pioneer Floating Rate Fund \| 1/31/266

------

(unaudited) (continued)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Principal<br> Amount<br> USD ($)** |  | **Value** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Engines — 1.6%** |  |
| 1707275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Arcline FM Holdings LLC, First Lien 2025-1 New Term Loan, 6.422% (Term SOFR + 275 bps), 6/23/30 | $1714032 |
| 725000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;INNIO Group Holding GmbH, USD Facility B2, 5.925% (Term SOFR + 225 bps), 11/2/28 | &nbsp;&nbsp; 726359 |
| 968075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LSF12 Badger Bidco LLC, Initial Term Loan, 9.172% (Term SOFR + 550 bps), 8/30/30 | &nbsp;&nbsp; 971706 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Engines** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **3412097** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Enterprise Software & Services — 2.0%** |  |
| 2013390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cloud Software Group, Inc., Tenth Amendment Tranche B-2 Term Loan, 6.922% (Term SOFR + 325 bps), 3/21/31 | $1956512 |
| 1004850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Genesys Cloud Services Holdings I LLC, Initial 2025 Dollar Term Loan, 6.172% (Term SOFR + 250 bps), 1/30/32 | &nbsp;&nbsp; 980148 |
| 382674 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mermaid Bidco, Inc., USD Facility B , 7.151% (Term SOFR + 325 bps), 7/3/31 | &nbsp;&nbsp; 376933 |
| 962911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Project Alpha Intermediate Holding, Inc., Second Amendment Refinancing Term Loan, 6.922% (Term SOFR + 325 bps), 10/26/30 | &nbsp;&nbsp; 893100 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Enterprise Software & Services** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **4206693** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Finance-Investment Banker — 1.3%** |  |
| 1334249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Citadel Securities LP, 2024-1 Term Loan, 5.672% (Term SOFR + 200 bps), 10/31/31 | $1337584 |
| 892281 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hudson River Trading LLC, Term B-2 Loan, 6.173% (Term SOFR + 250 bps), 3/18/30 | &nbsp;&nbsp; 890369 |
| 655380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jefferies Finance LLC, Initial Term Loan, 6.43% (Term SOFR + 275 bps), 10/21/31 | &nbsp;&nbsp; 655585 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Finance-Investment Banker** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **2883538** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Finance-Other Services — 0.4%** |  |
| 453720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IMC Financing LLC, Term Loan, 6.671% (Term SOFR + 300 bps), 6/18/32 | $457123 |
| 497000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Orion Midco Ltd, First Lien Initial Term Loan, 7.15% (Term SOFR + 350 bps), 10/8/32 | &nbsp;&nbsp; 498056 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Finance-Other Services** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **955179** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Food-Catering — 0.5%** |  |
| 1166339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aramark Intermediate HoldCo Corp., U.S. Term B-10 Loan, 5.422% (Term SOFR + 175 bps), 6/22/30 | $1170276 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Food-Catering** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **1170276** |

---

7Victory Pioneer Floating Rate Fund \| 1/31/26

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Principal<br> Amount<br> USD ($)** |  | **Value** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Food-Confectionery — 0.7%** |  |
| 1576110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fiesta Purchaser, Inc., Second Refinancing Term Loan, 6.422% (Term SOFR + 275 bps), 2/12/31 | $1532110 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Food-Confectionery** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **1532110** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Food-Dairy Products — 1.5%** |  |
| 3250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chobani LLC, 2025-2 New Term Loan, 5.922% (Term SOFR + 225 bps), 10/28/32 | $3265236 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Food-Dairy Products** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **3265236** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Food-Miscellaneous/Diversified — 0.4%** |  |
| 955000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Froneri International Ltd., First Lien Facility B6, 5.877% (Term SOFR + 225 bps), 9/30/32 | $954142 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Food-Miscellaneous/Diversified** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **954142** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Gambling (Non-Hotel) — 0.6%** |  |
| 499800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Flutter Entertainment Plc, 2024 Refinancing Term B Loan, 5.422% (Term SOFR + 175 bps), 11/30/30 | $500112 |
| 317415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Flutter Entertainment Plc, Third Incremental Term B Loan, 5.672% (Term SOFR + 200 bps), 6/4/32 | &nbsp;&nbsp; 317283 |
| 555000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;River Rock Entertainment Authority, California, Term Loan, 12.672% (Term SOFR + 900 bps), 6/25/31 | &nbsp;&nbsp; 541125 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Gambling (Non-Hotel)** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **1358520** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Gas-Transportation — 0.2%** |  |
| 390000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Meade Pipeline Co. LLC, Initial Loan, 5.695% (Term SOFR + 200 bps), 9/22/32 | $390731 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Gas-Transportation** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **390731** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Golf — 0.0%†** |  |
| 61255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Topgolf Callaway Brands Corp., Initial Term Loan, 6.422% (Term SOFR + 275 bps), 3/15/30 | $61599 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Golf** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **61599** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Hazardous Waste Disposal — 0.5%** |  |
| 1158487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JFL-Tiger Acquisition Co., Inc., Initial Term Loan, 7.423% (Term SOFR + 375 bps), 10/17/30 | $1167176 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Hazardous Waste Disposal** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **1167176** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Hotels & Motels — 0.7%** |  |
| 982594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Travel + Leisure Co., 2025 2024 Incremental Term Loan, 5.738% (Term SOFR + 200 bps), 12/14/29 | $984513 |
| 430000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TRQ Sales LLC, Initial Term Loan, 6.936% (Term SOFR + 325 bps), 12/30/32 | &nbsp;&nbsp; 429731 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Hotels & Motels** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **1414244** |

---

Victory Pioneer Floating Rate Fund \| 1/31/268

------

(unaudited) (continued)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Principal<br> Amount<br> USD ($)** |  | **Value** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Independent Power Producer — 0.5%** |  |
| 1168213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lightning Power LLC, Initial Term B Loan, 5.922% (Term SOFR + 225 bps), 8/18/31 | $1171701 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Independent Power Producer** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **1171701** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Insurance Brokers — 0.7%** |  |
| 913750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HIG Finance 2 Ltd., 2025-2 Dollar Refinancing Term Loan, 6.422% (Term SOFR + 275 bps), 2/15/31 | $913424 |
| 606143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;USI, Inc., 2024-C Term Loan, 5.922% (Term SOFR + 225 bps), 9/29/30 | &nbsp;&nbsp; 605858 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Insurance Brokers** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **1519282** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Internet Content — 0.9%** |  |
| 2,330,686(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MH Sub I LLC (Micro Holding Corp.), First Lien 2024 December New Term Loan, 7.922% (Term SOFR + 425 bps), 12/31/31 | $1917406 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Internet Content** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **1917406** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Internet Security — 0.4%** |  |
| 881927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proofpoint, Inc., First Lien 2025-B Incremental Term Loan, 6.672% (Term SOFR + 300 bps), 8/31/28 | $870903 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Internet Security** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **870903** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Investment Management & Advisory Services — 1.7%** |  |
| 1848394 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allspring Buyer LLC, 2024 Specified Refinancing Term Loan, 6.688% (Term SOFR + 300 bps), 11/1/30 | $1851089 |
| 583048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CPI Holdco B LLC, 2025 Fourth Amendment Incremental Term Loan, 5.672% (Term SOFR + 200 bps), 5/17/31 | &nbsp;&nbsp; 581955 |
| 980426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Edelman Financial Engines Center LLC, 2024-2 Refinancing Term Loan, 6.672% (Term SOFR + 300 bps), 4/7/28 | &nbsp;&nbsp; 983286 |
| 306908 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GTCR Everest Borrower LLC, 2025 Term Loan, 6.422% (Term SOFR + 275 bps), 9/5/31 | &nbsp;&nbsp; 306524 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Investment Management & Advisory Services** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **3722854** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Lasers-System & Components — 0.3%** |  |
| 555307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Coherent Corp., Term B-3 Loan, 5.422% (Term SOFR + 175 bps), 7/2/29 | $558083 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Lasers-System & Components** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **558083** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Machinery — 0.6%** |  |
| 520,021(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Columbus McKinnon Corp., Term Loan B, 1/21/33 | $518396 |
| 191,925(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LSF 12 Helix Parent LLC, Term Loan B, 1/21/33 | &nbsp;&nbsp; 191565 |

---

9Victory Pioneer Floating Rate Fund \| 1/31/26

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Principal<br> Amount<br> USD ($)** |  | **Value** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Machinery — (continued)** |  |
| 385000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pro Mach Group, Inc., First Lien Amendment No. 6 Refinancing Term Loan, 6.422% (Term SOFR + 275 bps), 10/15/32 | $385902 |
| 250,000(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SunSource Borrower LLC, First Refinancing Term Loan, 3/25/31 | &nbsp;&nbsp; 249688 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Machinery** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **1345551** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Medical Diagnostic Imaging — 0.4%** |  |
| 834837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lumexa Imaging, Inc. (Lumexa Imaging Outpatient, Inc.), Amendment No. 5 Replacement Term Loan, 6.705% (Term SOFR + 300 bps), 12/17/32 | $838489 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Medical Diagnostic Imaging** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **838489** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Medical Labs & Testing Services — 2.8%** |  |
| 1376363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Charlotte Buyer, Inc., First Lien Second Refinancing Term Loan, 7.924% (Term SOFR + 425 bps), 2/11/28 | $1346255 |
| 1929558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Phoenix Guarantor, Inc., First Lien Tranche B-5 Term Loan, 6.172% (Term SOFR + 250 bps), 2/21/31 | &nbsp;&nbsp; 1929106 |
| 1721765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sotera Health Holdings LLC, 2025 Refinancing Term Loan, 6.172% (Term SOFR + 250 bps), 5/30/31 | &nbsp;&nbsp; 1728759 |
| 952664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Anesthesia Partners, Inc., First Lien Initial Term Loan, 7.814% (Term SOFR + 400 bps), 10/1/28 | &nbsp;&nbsp; 952961 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Medical Labs & Testing Services** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **5957081** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Medical Products — 0.8%** |  |
| 127122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hanger, Inc., Delayed Draw Term Loan, 7.172% (Term SOFR + 350 bps), 10/23/31 | $127631 |
| 1667156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hanger, Inc., Initial Term Loan, 7.172% (Term SOFR + 350 bps), 10/23/31 | &nbsp;&nbsp; 1673824 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Medical Products** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **1801455** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Medical-Drugs — 2.9%** |  |
| 955200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1261229 B.C. Ltd., Initial Term Loan, 9.922% (Term SOFR + 625 bps), 10/8/30 | $933310 |
| 962812 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Endo Finance Holdings, Inc., 2024 Refinancing Term Loan, 7.422% (Term SOFR + 375 bps), 4/23/31 | &nbsp;&nbsp; 964532 |
| 1123244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jazz Pharmaceuticals, Inc., Tranche B-2 Dollar Term Loan, 5.922% (Term SOFR + 225 bps), 5/5/28 | &nbsp;&nbsp; 1128223 |
| 2114718 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Organon & Co., 2024 Refinancing Dollar Term Loan Facility, 5.922% (Term SOFR + 225 bps), 5/19/31 | &nbsp;&nbsp; 2056941 |
| 1162912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Padagis LLC, Term B Loan, 8.658% (Term SOFR + 475 bps), 7/6/28 | &nbsp;&nbsp; 1064064 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Medical-Drugs** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **6147070** |

---

Victory Pioneer Floating Rate Fund \| 1/31/2610

------

(unaudited) (continued)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Principal<br> Amount<br> USD ($)** |  | **Value** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Medical-Generic Drugs — 0.6%** |  |
| 1307722 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amneal Pharmaceuticals LLC, Amendment No.1 Term Loan, 7.172% (Term SOFR + 350 bps), 8/1/32 | $1314261 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Medical-Generic Drugs** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **1314261** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Medical-Hospitals — 1.4%** |  |
| 1828502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EyeCare Partners LLC, Super-Priority Tranche B Term Loan, 4.73% (Term SOFR + 100 bps), 11/30/28 | $804541 |
| 1918306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Knight Health Holdings LLC, Term B Loan, 9.036% (Term SOFR + 525 bps), 12/23/28 | &nbsp;&nbsp; 637837 |
| 1584978 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LifePoint Health, Inc., First Lien 2024-2 Refinancing Term Loan, 7.152% (Term SOFR + 350 bps), 5/17/31 | &nbsp;&nbsp; 1583822 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Medical-Hospitals** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **3026200** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Medical-Wholesale Drug Distribution — 0.9%** |  |
| 1954259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gainwell Acquisition Corp., First Lien Term B Loan, 7.772% (Term SOFR + 400 bps), 10/1/27 | $1874255 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Medical-Wholesale Drug Distribution** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **1874255** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Metal Processors & Fabrication — 0.6%** |  |
| 1256871 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Grinding Media, Inc. (Molycop Ltd.), First Lien 2024 Incremental Term Loan, 7.335% (Term SOFR + 350 bps), 10/12/28 | $1257657 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Metal Processors & Fabrication** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **1257657** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Metal-Aluminum — 0.4%** |  |
| 863992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Arsenal AIC Parent LLC, 2025 Refinancing Term B Loan, 6.422% (Term SOFR + 275 bps), 8/18/30 | $867232 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Metal-Aluminum** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **867232** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Multi-line Insurance — 0.4%** |  |
| 856695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acrisure LLC, First Lien 2025 Term B Loan, 6.922% (Term SOFR + 325 bps), 6/21/32 | $857588 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Multi-line Insurance** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **857588** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Non-hazardous Waste Disposal — 0.4%** |  |
| 906153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tidal Waste & Recycling Holdings LLC, Initial Term Loan, 6.422% (Term SOFR + 275 bps), 10/24/31 | $911817 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Non-hazardous Waste Disposal** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **911817** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Paper & Related Products — 0.3%** |  |
| 633818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ahlstrom Holding 3 Oy, Additional USD Facility B1, 8.184% (Term SOFR + 425 bps), 5/23/30 | $635667 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Paper & Related Products** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **635667** |

---

11Victory Pioneer Floating Rate Fund \| 1/31/26

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Principal<br> Amount<br> USD ($)** |  | **Value** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Pharmacy Services — 0.3%** |  |
| 618029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Option Care Health, Inc., 2025 Amendment Term Loan, 5.422% (Term SOFR + 175 bps), 9/16/32 | $620733 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Pharmacy Services** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **620733** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Physical Practice Management — 0.7%** |  |
| 1273533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sound Inpatient Physicians, Inc., Tranche B Term Loan, 7.434% (Term SOFR + 350 bps), 6/28/28 | $1240633 |
| 300146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sound Inpatient Physicians, Inc., Tranche C Term Loan, 10.684% (Term SOFR + 675 bps), 6/28/29 | &nbsp;&nbsp; 285514 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Physical Practice Management** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **1526147** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Physical Therapy & Rehabilitation Centers — 1.6%** |  |
| 202922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Summit Behavioral Healthcare LLC, First Lien First Out Term Loan, 9.684% (Term SOFR + 575 bps), 12/31/29 | $208925 |
| 1275741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Summit Behavioral Healthcare LLC, First Lien Second Out Term Loan, 8.184% (Term SOFR + 425 bps), 12/31/29 | &nbsp;&nbsp; 1076407 |
| 2379064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upstream Newco, Inc., First Lien December 2025 Extended/Modified Term Loan, 8.179% (Term SOFR + 425 bps), 11/20/29 | &nbsp;&nbsp; 2157216 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Physical Therapy & Rehabilitation Centers** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **3442548** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Pipelines — 2.8%** |  |
| 1893179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brazos Delaware II LLC, 2025 B-2 Refinancing Term Loan, 6.174% (Term SOFR + 250 bps), 2/11/30 | $1895884 |
| 676616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;M6 ETX Holdings II Midco LLC, New Term Loan, 6.172% (Term SOFR + 250 bps), 4/1/32 | &nbsp;&nbsp; 679153 |
| 1911704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oryx Midstream Services Permian Basin LLC, 2025 Refinancing Term Loan, 5.924% (Term SOFR + 225 bps), 10/5/28 | &nbsp;&nbsp; 1913751 |
| 1574712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Traverse Midstream Partners LLC, Advance, 6.167% (Term SOFR + 250 bps), 2/16/28 | &nbsp;&nbsp; 1576681 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Pipelines** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **6065469** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Printing-Commercial — 0.4%** |  |
| 898178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Verde Purchaser LLC, Initial Term Loan, 7.672% (Term SOFR + 400 bps), 11/30/30 | $878156 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Printing-Commercial** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **878156** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Professional Sports — 0.6%** |  |
| 1223853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Formula One Management Ltd., Facility B, 5.422% (Term SOFR + 175 bps), 9/30/31 | $1224618 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Professional Sports** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **1224618** |

---

Victory Pioneer Floating Rate Fund \| 1/31/2612

------

(unaudited) (continued)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Principal<br> Amount<br> USD ($)** |  | **Value** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Property & Casualty Insurance — 2.2%** |  |
| 1399682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asurion LLC, First Lien New B-10 Term Loan, 7.772% (Term SOFR + 400 bps), 8/19/28 | $1403007 |
| 780947 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asurion LLC, First Lien New B-11 Term Loan, 8.022% (Term SOFR + 425 bps), 8/19/28 | &nbsp;&nbsp; 782656 |
| 607426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asurion LLC, First Lien New B-12 Term Loan, 7.922% (Term SOFR + 425 bps), 9/19/30 | &nbsp;&nbsp; 609893 |
| 294393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asurion LLC, Second Lien New B-4 Term Loan, 9.036% (Term SOFR + 525 bps), 1/20/29 | &nbsp;&nbsp; 294791 |
| 1652554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sedgwick Claims Management Services, Inc. (Lightning Cayman Merger Sub, Ltd.), 2024 Term Loan, 6.172% (Term SOFR + 250 bps), 7/31/31 | &nbsp;&nbsp; 1648423 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Property & Casualty Insurance** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **4738770** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Protection-Safety — 0.5%** |  |
| 261341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prime Security Services Borrower LLC, 2025 Incremental Term B-2 Loan, 5.438% (Term SOFR + 175 bps), 3/7/32 | $260362 |
| 862639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prime Security Services Borrower LLC, First Lien 2024-1 Refinancing Term B-1 Loan, 5.688% (Term SOFR + 200 bps), 10/13/30 | &nbsp;&nbsp; 861493 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Protection-Safety** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **1121855** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Publishing — 1.1%** |  |
| 1443883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Houghton Mifflin Harcourt Co., First Lien Term B Loan, 9.022% (Term SOFR + 525 bps), 4/9/29 | $1300622 |
| 973243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;McGraw-Hill Education, Inc., 2025 Tranche B-2 Term Loan, 6.422% (Term SOFR + 275 bps), 8/6/31 | &nbsp;&nbsp; 977349 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Publishing** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **2277971** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Radio — 0.3%** |  |
| 995810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Townsquare Media LLC, Initial Term Loan, 8.878% (Term SOFR + 500 bps), 2/19/30 | $734410 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Radio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **734410** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Recreational Centers — 1.1%** |  |
| 1954106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fitness International LLC, Term B Loan, 8.172% (Term SOFR + 450 bps), 2/12/29 | $1961434 |
| 321758 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Life Time, Inc., 2025 Refinancing Term Loan, 5.688% (Term SOFR + 200 bps), 11/5/31 | &nbsp;&nbsp; 323395 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Recreational Centers** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **2284829** |

---

13Victory Pioneer Floating Rate Fund \| 1/31/26

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Principal<br> Amount<br> USD ($)** |  | **Value** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**REITS-Storage — 0.2%** |  |
| 347289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Iron Mountain Information Management LLC, Amendment No.1 Incremental Term B Loan, 5.672% (Term SOFR + 200 bps), 1/31/31 | $344106 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total REITS-Storage** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **344106** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Rental Auto & Equipment — 0.8%** |  |
| 1626875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Albion Financing 3 S.a r.l. (Albion Financing LLC), 2025-A Refinancing U.S. Dollar Term Loan, 6.868% (Term SOFR + 300 bps), 5/21/31 | $1621791 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Rental Auto & Equipment** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **1621791** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Retail — 4.9%** |  |
| 1233072 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Great Outdoors Group LLC, Term B-3 Loan, 6.922% (Term SOFR + 325 bps), 1/23/32 | $1236045 |
| 1501612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Harbor Freight Tools USA, Inc., Replacement Term Loan, 5.922% (Term SOFR + 225 bps), 6/11/31 | &nbsp;&nbsp; 1483110 |
| 778050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LBM Acquisition LLC, First Lien Amendment No. 4 Refinancing Term Loan, 8.671% (Term SOFR + 500 bps), 6/6/31 | &nbsp;&nbsp; 779131 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LS Group Opco Acquisition LLC (LS Group PropCo Acquisition LLC), Term B-1 Loan, 6.322% (Term SOFR + 250 bps), 4/23/31 | &nbsp;&nbsp; 500938 |
| 782000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Park River Holdings, Inc., 2025 Refinancing Term Loan, 8.161% (Term SOFR + 450 bps), 3/15/31 | &nbsp;&nbsp; 786561 |
| 1954997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Petco Health & Wellness Co., Inc., First Lien Initial Term Loan, 7.184% (Term SOFR + 325 bps), 3/3/28 | &nbsp;&nbsp; 1952825 |
| 1,293,575(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Petco Health and Wellness Company, Inc., 2026 Term Loan, 1/31/31 | &nbsp;&nbsp; 1269119 |
| 1632000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PetSmart LLC, Initial Term Loan, 7.671% (Term SOFR + 400 bps), 8/18/32 | &nbsp;&nbsp; 1629960 |
| 606939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RVR Dealership Holdings LLC, Term Loan, 7.522% (Term SOFR + 375 bps), 2/8/28 | &nbsp;&nbsp; 601325 |
| 189,296(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Men's Wearhouse LLC, Term Loan B, 1/22/31 | &nbsp;&nbsp; 189651 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Retail** | &nbsp;&nbsp; **$** **10428665** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Retail-Variety Store — 0.2%** |  |
| 422427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Evergreen Acqco 1 LP, Initial Term Loan, 6.701% (Term SOFR + 300 bps), 9/17/32 | $423800 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Retail-Variety Store** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **423800** |

---

Victory Pioneer Floating Rate Fund \| 1/31/2614

------

(unaudited) (continued)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Principal<br> Amount<br> USD ($)** |  | **Value** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Security Services — 0.5%** |  |
| 957131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allied Universal Holdco LLC (USAGM Holdco LLC), Amendment No. 7 Replacement U.S. Dollar Term Loan, 6.922% (Term SOFR + 325 bps), 8/20/32 | $959252 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Security Services** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **959252** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Semiconductor Equipment — 0.7%** |  |
| 825839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MKS Instruments, Inc., 2025-1 Dollar Term B Loan, 5.672% (Term SOFR + 200 bps), 8/17/29 | $826484 |
| 623,114(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MKS Instruments, Inc., Term Loan B, 1/28/33 | &nbsp;&nbsp; 625061 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Semiconductor Equipment** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **1451545** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Telecom Services — 0.9%** |  |
| 1605000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Windstream Services LLC, 2024 Term Loan, 8.522% (Term SOFR + 475 bps), 10/1/31 | $1619044 |
| 370000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Windstream Services LLC, 2025 Term Loan, 7.672% (Term SOFR + 400 bps), 10/6/32 | &nbsp;&nbsp; 370925 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Telecom Services** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **1989969** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Telephone-Integrated — 0.4%** |  |
| 779943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Level 3 Financing, Inc., Term B-4 Refinancing Loans, 6.922% (Term SOFR + 325 bps), 3/29/32 | $784492 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Telephone-Integrated** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **784492** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Television — 0.0%†** |  |
| 9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gray Television, Inc., Term F Loan, 8.95% (Term SOFR + 525 bps), 6/4/29 | $9213 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Television** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **9213** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Theaters — 0.6%** |  |
| 1237663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Crown Finance US, Inc., First Amendment Term Loan, 8.188% (Term SOFR + 450 bps), 12/2/31 | $1205174 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Theaters** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **1205174** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Transport-Air Freight — 0.2%** |  |
| 432000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stonepeak Nile Parent LLC, Amendment No 1 Incremental Term Loan, 5.917% (Term SOFR + 225 bps), 4/9/32 | $432101 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Transport-Air Freight** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **432101** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Transportation Services — 1.7%** |  |
| 1621081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Carriage Purchaser, Inc., Term B Loan, 7.172% (Term SOFR + 350 bps), 10/2/28 | $1629862 |

---

15Victory Pioneer Floating Rate Fund \| 1/31/26

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Principal<br> Amount<br> USD ($)** |  | **Value** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Transportation Services — (continued)** |  |
| 1758705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;First Student Bidco, Inc., Initial Term B Loan, 6.172% (Term SOFR + 250 bps), 8/15/30 | $1758548 |
| 321799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;First Student Bidco, Inc., Initial Term C Loan, 6.172% (Term SOFR + 250 bps), 8/15/30 | &nbsp;&nbsp; 321833 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Transportation Services** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **3710243** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Transport-Rail — 0.5%** |  |
| 1072051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Genesee & Wyoming, Inc., Initial Term Loan, 5.422% (Term SOFR + 175 bps), 4/10/31 | $1071929 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Transport-Rail** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **1071929** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Veterinary Diagnostics — 0.3%** |  |
| 622882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Southern Veterinary Partners LLC, First Lien 2025 New Term Loan, 6.173% (Term SOFR + 250 bps), 12/4/31 | $622938 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Veterinary Diagnostics** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **622938** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Senior Secured Floating Rate Loan Interests<br> (Cost $184,639,579)** | **$179699434** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Shares** |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Common Stocks — 0.3% of Net Assets** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Healthcare-Services — 0.0%** |  |
| 396,983(c)+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sound Inpatient Physicians Holdings | $— |
| 17,772(c)+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sound Inpatient Physicians, Inc. | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Healthcare-Services** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **—** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Passenger Airlines — 0.3%** |  |
| 339,540(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Grupo Aeromexico S.A.B de CV | $680012 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Passenger Airlines** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **680012** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Common Stocks<br> (Cost $254,588)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **680012** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Principal<br> Amount<br> USD ($)** |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Asset Backed Securities — 3.5% of Net<br> Assets** |  |
| 1,000,000(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CIFC Funding, Ltd., Series 2025-2A, Class D2, 7.222% (3 Month Term SOFR + 355 bps), 4/15/38 (144A) | $1002221 |
| 1,000,000(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CIFC Funding, Ltd., Series 2025-2A, Class E, 8.072% (3 Month Term SOFR + 440 bps), 4/15/38 (144A) | &nbsp;&nbsp; 1000530 |

---

Victory Pioneer Floating Rate Fund \| 1/31/2616

------

(unaudited) (continued)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Principal<br> Amount<br> USD ($)** |  | **Value** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Asset Backed Securities — (continued)** |  |
| 1,000,000(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Crown Point CLO 11, Ltd., Series 2021-11A, Class ER, 9.818% (3 Month Term SOFR + 615 bps), 2/28/38 (144A) | $990000 |
| 1,000,000(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dryden 41 Senior Loan Fund, Series 2015-41A, Class DR, 6.534% (3 Month Term SOFR + 286 bps), 4/15/31 (144A) | &nbsp;&nbsp; 1003742 |
| 1,000,000(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Magnetite XXX, Ltd., Series 2021-30A, Class D2R, 7.858% (3 Month Term SOFR + 400 bps), 10/25/37 (144A) | &nbsp;&nbsp; 1005895 |
| 583,423(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;US Bank NA, Series 2025-SUP1, Class D, 6.397% (SOFR30A + 270 bps), 2/25/32 (144A) | &nbsp;&nbsp; 584411 |
| 1,000,000(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Voya CLO, Ltd., Series 2025-1A, Class D2, 7.418% (3 Month Term SOFR + 375 bps), 4/20/38 (144A) | &nbsp;&nbsp; 1008270 |
| 1,000,000(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Voya CLO, Ltd., Series 2025-1A, Class E, 8.268% (3 Month Term SOFR + 460 bps), 4/20/38 (144A) | &nbsp;&nbsp; 1007535 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Asset Backed Securities<br> (Cost $7,608,423)** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **7602604** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Commercial Mortgage-Backed<br> Securities—0.1% of Net Assets** |  |
| 74,237(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FREMF Mortgage Trust, Series 2020-KF74, Class C, 10.151% (SOFR30A + 636 bps), 1/25/27 (144A) | $73596 |
| 92,783(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FREMF Mortgage Trust, Series 2020-KF83, Class C, 12.901% (SOFR30A + 911 bps), 7/25/30 (144A) | &nbsp;&nbsp; 94757 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Commercial Mortgage-Backed Securities<br> (Cost $171,681)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **168353** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Corporate Bonds — 6.9% of Net Assets** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Advertising — 0.3%** |  |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stagwell Global LLC, 5.625%, 8/15/29 (144A) | $727248 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Advertising** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **727248** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Aerospace & Defense — 0.5%** |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goat Holdco LLC, 6.75%, 2/1/32 (144A) | $1027024 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Aerospace & Defense** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **1027024** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Airlines — 0.5%** |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OneSky Flight LLC, 8.875%, 12/15/29 (144A) | $1069234 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Airlines** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **1069234** |

---

17Victory Pioneer Floating Rate Fund \| 1/31/26

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Principal<br> Amount<br> USD ($)** |  | **Value** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Banks — 0.3%** |  |
| 500,000(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Citizens Financial Group, Inc., 6.645% (SOFR + 233 bps), 4/25/35 | $547568 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Banks** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **547568** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Chemicals — 0.5%** |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Methanex US Operations, Inc., 6.25%, 3/15/32 (144A) | $1031216 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Chemicals** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **1031216** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Commercial Services — 0.4%** |  |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shift4 Payments LLC/Shift4 Payments Finance Sub, Inc., 6.75%, 8/15/32 (144A) | $765144 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Commercial Services** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **765144** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Diversified Financial Services — 0.5%** |  |
| 1,000,000(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ally Financial, Inc., 6.184% (SOFR + 229 bps), 7/26/35 | $1031267 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Diversified Financial Services** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **1031267** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Electric — 0.2%** |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vistra Operations Co. LLC, 4.375%, 5/1/29 (144A) | $493741 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Electric** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **493741** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Internet — 0.4%** |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ION Platform Finance US, Inc./ION Platform Finance S.a.r.l., 9.00%, 8/1/29 (144A) | $960090 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Internet** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **960090** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Media — 0.3%** |  |
| 575000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gray Media, Inc., 7.25%, 8/15/33 (144A) | $588669 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Media** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **588669** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Mining — 0.4%** |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Novelis Corp., 3.875%, 8/15/31 (144A) | $915067 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Mining** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **915067** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Oil & Gas — 0.9%** |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hilcorp Energy I LP/Hilcorp Finance Co., 6.875%, 5/15/34 (144A) | $963728 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wildfire Intermediate Holdings LLC, 7.50%, 10/15/29 (144A) | &nbsp;&nbsp; 1013786 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Oil & Gas** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **1977514** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Pharmaceuticals — 0.4%** |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AdaptHealth LLC, 5.125%, 3/1/30 (144A) | $971104 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Pharmaceuticals** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **971104** |

---

Victory Pioneer Floating Rate Fund \| 1/31/2618

------

(unaudited) (continued)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Principal<br> Amount<br> USD ($)** |  | **Value** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Pipelines — 0.4%** |  |
| 330000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CQP Holdco LP/BIP-V Chinook Holdco LLC, 7.50%, 12/15/33 (144A) | $354746 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Venture Global Calcasieu Pass LLC, 3.875%, 8/15/29 (144A) | &nbsp;&nbsp; 475010 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Pipelines** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **829756** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Software — 0.5%** |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cloud Software Group, Inc., 6.50%, 3/31/29 (144A) | $993767 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Software** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **993767** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Telecommunications — 0.4%** |  |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Uniti Group LP/Uniti Group Finance 2019, Inc./CSL Capital LLC, 8.625%, 6/15/32 (144A) | $757252 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Telecommunications** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **757252** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Corporate Bonds<br> (Cost $14,362,340)** | **$** **14685661** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Insurance-Linked Securities—1.2% of Net<br> Assets#** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Event Linked Bonds — 1.2%** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Flood – U.S. — 0.1%** |  |
| 250,000(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FloodSmart Re, 20.67%, (FHMMUSTF + 1,715 bps), 3/11/26 (144A) | $253750 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Health – U.S. — 0.1%** |  |
| 250,000(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vitality Re XIV, 7.02%, (FHMMUSTF + 350 bps), 1/5/27 (144A) | $253275 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Multiperil – U.S. — 0.5%** |  |
| 250,000(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bonanza Re, 7.28%, (MSMMUSTF + 375 bps), 12/19/27 (144A) | $251700 |
| 250,000(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sanders Re, 7.52%, (BRMMUSDF + 399 bps), 4/7/29 (144A) | &nbsp;&nbsp; 254675 |
| 250,000(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sanders Re, 8.89%, (BRMMUSDF + 536 bps), 4/7/29 (144A) | &nbsp;&nbsp; 259075 |
| 250,000(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sanders Re III, 6.87%, (BRMMUSDF + 334 bps), 4/7/26 (144A) | &nbsp;&nbsp; 250250 |
|  |  | &nbsp;&nbsp;&nbsp; $1015700 |

---

19Victory Pioneer Floating Rate Fund \| 1/31/26

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Principal<br> Amount<br> USD ($)** |  | **Value** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Multiperil – U.S. & Canada — 0.3%** |  |
| 250,000(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kilimanjaro II Re, 9.78%, (BRMMUSDF + 625 bps), 6/30/28 (144A) | $262900 |
| 250,000(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kilimanjaro II Re, 10.78%, (BRMMUSDF + 725 bps), 6/30/28 (144A) | &nbsp;&nbsp; 264150 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $527050 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Multiperil – U.S. Regional — 0.1%** |  |
| 250,000(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Long Point Re IV, 7.78%, (BRMMUSDF + 425 bps), 6/1/26 (144A) | $251450 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Windstorm – Florida — 0.0%†** |  |
| 154,719(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Integrity Re, 4.02%, (FHMMUSTF + 50 bps), 6/6/30 (144A) | $77360 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Windstorm – U.S. Northeast — 0.1%** |  |
| 250,000(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3264 Re, 10.52%, (FHMMUSTF + 700 bps), 7/8/27 (144A) | $262925 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Event Linked Bonds** | &nbsp;&nbsp;&nbsp; **$2641510** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Face<br> Amount<br> USD ($)** |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Reinsurance Sidecars — 0.0%†** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Multiperil – Worldwide — 0.0%†** |  |
| 19,715(c)(e)+ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alturas Re 2022-2, 12/31/27 | $692 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Reinsurance Sidecars** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **$** **692** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Insurance-Linked Securities<br> (Cost $2,654,719)** | &nbsp;&nbsp;&nbsp; **$** **2642202** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Shares** |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Investment Company — 0.5% of Net Assets** |  |
| 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Invesco Senior Loan ETF | $1037000 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Investment Company<br> (Cost $1,040,250)** | &nbsp;&nbsp;&nbsp;&nbsp; **$1037000** |

---

Victory Pioneer Floating Rate Fund \| 1/31/2620

------

(unaudited) (continued)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Shares** |  | **Value** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHORT TERM INVESTMENTS — 5.8% of Net<br> Assets** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Open-End Fund — 5.8%** |  |
| 12,470,354(f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dreyfus Government Cash Management,<br> Institutional Shares, 3.58% | $12470354 |
|  |  | &nbsp;&nbsp; $12470354 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL SHORT TERM INVESTMENTS<br> (Cost $12,470,354)** | &nbsp;&nbsp; **$** **12470354** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL INVESTMENTS IN UNAFFILIATED ISSUERS — 102.3%<br> (Cost $223,201,934)** | **$218985620** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**OTHER ASSETS AND LIABILITIES — (2.3)%** | &nbsp;&nbsp; $(4955807) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**net assets — 100.0%** | **$214029813** |

---

---

| | |
|:---|:---|
| bps | &nbsp;&nbsp;Basis Points. |
| BRMMUSDF | &nbsp;&nbsp;BlackRock Liquidity Fund Treasury Trust Fund Portfolio Fund Yield. |
| ETF | &nbsp;&nbsp;Exchange-traded Fund. |
| FHMMUSTF | &nbsp;&nbsp;Federated Hermes US Treasury Cash Reserves Fund Yield. |
| FREMF | &nbsp;&nbsp;Freddie Mac Multifamily Fixed-Rate Mortgage Loans. |
| MSMMUSTF | &nbsp;&nbsp;MSILF Treasury Securities Portfolio Fund Yield. |
| REIT | &nbsp;&nbsp;Real Estate Investment Trust. |
| SOFR | &nbsp;&nbsp;Secured Overnight Financing Rate. |
| SOFR30A | &nbsp;&nbsp;Secured Overnight Financing Rate 30 Day Average. |
| (144A) | &nbsp;&nbsp;The resale of such security is exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold normally to qualified institutional buyers. At January 31, 2026, the value of these securities amounted to $23,519,293, or 11.0% of net assets. |

---

(a) Floating rate note. Coupon rate, reference index and spread shown at January 31, 2026.

(b) All or a portion of this senior loan position has not settled. Rates do not take effect until settlement date. Rates shown, if any, are for the settled portion.

(c) Non-income producing security.

(d) The interest rate is subject to change periodically. The interest rate and/or reference index and spread shown at January 31, 2026.

(e) Issued as preference shares.

(f) Rate periodically changes. Rate disclosed is the 7-day yield at January 31, 2026.

21Victory Pioneer Floating Rate Fund \| 1/31/26

------

---

| | |
|:---|:---|
| \* | &nbsp;&nbsp;Senior secured ﬂoating rate loan interests in which the Fund invests generally pay interest at rates that are periodically re-determined by reference to a base lending rate plus a premium. These base lending rates are generally (i) the lending rate offered by one or more major European banks, such as SOFR, (ii) the prime rate offered by one or more major United States banks, (iii) the rate of a certiﬁcate of deposit or (iv) other base lending rates used by commercial lenders. The interest rate shown is the rate accruing at January 31, 2026. |
| + | &nbsp;&nbsp;Security is valued using significant unobservable inputs (Level 3). |
| † | &nbsp;&nbsp;Amount rounds to less than 0.1%. |
| # | &nbsp;&nbsp;Securities are restricted as to resale. |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Restricted Securities** | **Acquisition date** | &nbsp;&nbsp;&nbsp;&nbsp;**Cost** | &nbsp;&nbsp;&nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;3264 Re | 6/24/2024 | &nbsp;&nbsp;&nbsp;&nbsp;$250000 | &nbsp;&nbsp;&nbsp;&nbsp;$262925 |
| &nbsp;&nbsp;Alturas Re 2022-2 | 4/11/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;692 |
| &nbsp;&nbsp;Bonanza Re | 12/16/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251700 |
| &nbsp;&nbsp;FloodSmart Re | 2/23/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253750 |
| &nbsp;&nbsp;Integrity Re | 5/9/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77360 |
| &nbsp;&nbsp;Kilimanjaro II Re | 6/24/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262900 |
| &nbsp;&nbsp;Kilimanjaro II Re | 6/24/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264150 |
| &nbsp;&nbsp;Long Point Re IV | 5/13/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251450 |
| &nbsp;&nbsp;Sanders Re | 12/10/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254675 |
| &nbsp;&nbsp;Sanders Re | 12/10/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;259075 |
| &nbsp;&nbsp;Sanders Re III | 3/22/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250250 |
| &nbsp;&nbsp;Vitality Re XIV | 1/25/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253275 |
| &nbsp;&nbsp;**Total Restricted Securities** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;$2642202 |
| &nbsp;&nbsp;**% of Net assets** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2% |

---

#### FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency<br> Purchased** | **In<br> Exchange for** | **Currency<br> Sold** | **Deliver** | **Counterparty** | **Settlement<br> Date** | **Unrealized<br> (Depreciation)** |
| USD | 578035 | MXN | 10511834 | HSBC Bank USA NA | 3/27/26 | $(20227) |
| **TOTAL FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **TOTAL FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **TOTAL FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **TOTAL FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **TOTAL FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **TOTAL FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **$(20227)** |

---

Principal amounts are denominated in U.S. dollars ("USD") unless otherwise noted.

MXN — Mexican Peso <br> USD — United States Dollar

Various inputs are used in determining the value of the Fund's investments. These inputs are summarized in the three broad levels below.

Level 1 – unadjusted quoted prices in active markets for identical securities.

Victory Pioneer Floating Rate Fund \| 1/31/2622

------

### Schedule of Investments \| 1/31/26
(unaudited) (continued)

Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). <br> Level 3 – significant unobservable inputs (including the Adviser's own assumptions in determining fair value of investments).

The following is a summary of the inputs used as of January 31, 2026 in valuing the Fund's investments:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1** | &nbsp;&nbsp;**Level 2** | &nbsp;&nbsp;**Level 3** | &nbsp;&nbsp;**Total** |
| Senior Secured Floating Rate Loan Interests | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;$179699434 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$179699434 |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Healthcare-Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;—\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—\* |
| &nbsp;&nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;680012 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;680012 |
| Asset Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7602604 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7602604 |
| Commercial Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168353 |
| Corporate Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;14685661 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;14685661 |
| Insurance-Linked Securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Reinsurance Sidecars |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Multiperil – Worldwide | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;692 |
| &nbsp;&nbsp;&nbsp;All Other Insurance-Linked Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2641510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2641510 |
| Investment Company | &nbsp;&nbsp;&nbsp;&nbsp;1037000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1037000 |
| Open-End Fund | &nbsp;&nbsp;&nbsp;12470354 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;12470354 |
| **Total Investments in Securities** | **$14187366** | &nbsp;&nbsp;**$204797562** | &nbsp;&nbsp;**$692** | &nbsp;&nbsp;**$218985620** |
| **Other Financial Instruments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net unrealized depreciation on forward foreign currency exchange contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(20227) | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(20227) |
| **Total Other Financial Instruments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(20227)** | &nbsp;&nbsp;**$—** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(20227)** |

---

\* Securities valued at $0.

During the period ended January 31, 2026, there were no transfers in or out of Level 3.

23Victory Pioneer Floating Rate Fund \| 1/31/26

## 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 Floating Rate Fund

- **b. EDGAR series identifier (if any):** S000089773

- **c. LEI of Series:** XX4B5VGHKUF43D6FB545

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

- **a. Date of fiscal year-end:** 2026-10-31

- **b. Date as of which information is reported:** 2026-01-30

**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:** $222653978.30

**Total Liabilities:** $9214995.87

**Net Assets:** $213438982.43

**Cash Not Reported:** $2114540.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** -3327.00000000 | **10-Year:** -1327.00000000 | **30-Year:** 0.00000000

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

- **3-Month:** 0.00000000 | **1-Year:** -137.00000000 | **5-Year:** -71997.00000000 | **10-Year:** -1909.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000256548 | 0.40%                | 0.55%                | -0.10%               |
| Class ID C000256549 | 0.37%                | 0.53%                | -0.13%               |
| Class ID C000256550 | 0.31%                | 0.47%                | -0.19%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-728398.37              | $475798.52                                 |
| Month 2  | $-41558.66               | $-26387.42                                 |
| Month 3  | $-1268139.79             | $-262067.57                                |

**Designated Index Information**

- **Index Name:** LSTA Leveraged Loan Index

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| HSBC SECURITIES (USA) INC.          | MXN/USD FORWARD                                                 | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-20227.21    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| U.S. Bank National Association      | US Bank NA                                                      | CUSIP: 90357PBG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    583423 | PA      | $584410.68    | 0.27%             | 2032-02-25      | Floating      | 6.40%                 | No            |                  2 | On Loan: No      |
| SGH2 LLC                            | SGH2 LLC                                                        | CUSIP: 78424SAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    912712 | PA      | $914994.28    | 0.43%             | 2032-08-18      | Floating      | 8.17%                 | No            |                  2 | On Loan: No      |
| ORYX MIDSTREAM SERVICES             | ORYX MIDSTREAM SERVICES PERMIAN BASIN LLC                       | CUSIP: 68764JAJ0<br>LEI: 254900YYHRDANYFAHC43 | Long             | LON              | CORP              | US        |   1911704 | PA      | $1913751.47   | 0.90%             | 2028-10-05      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| DELTA 2 LUX SARL                    | DELTA 2 LUX SARL                                                | CUSIP: 000000000<br>LEI: 549300BBG8Z3D6QSYP53 | Long             | LON              | CORP              | LU        |   1223853 | PA      | $1224617.91   | 0.57%             | 2031-09-19      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| 1261229 BC LTD                      | 1261229 BC LTD                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |    955200 | PA      | $933309.68    | 0.44%             | 2030-10-08      | Floating      | 9.92%                 | No            |                  2 | On Loan: No      |
| USI INC/NY                          | USI INC/NY                                                      | CUSIP: 90351NAQ8<br>LEI: 2549006D7UF7072T7I27 | Long             | LON              | CORP              | US        |    606143 | PA      | $605858.52    | 0.28%             | 2030-09-27      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| BRAZOS DELAWARE II LLC              | BRAZOS DELAWARE II LLC                                          | CUSIP: 10620UAM4<br>LEI: 549300V1BTYXZRGYUU04 | Long             | LON              | CORP              | US        |   1893179 | PA      | $1895884.18   | 0.89%             | 2030-02-11      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| INTEGRITY RE LTD                    | Integrity Re Ltd                                                | CUSIP: 45833UAF8<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    154720 | PA      | $77359.78     | 0.04%             | 2030-06-06      | Floating      | 4.02%                 | No            |                  2 | On Loan: No      |
| Quikrete Holdings Inc               | QUIKRETE HOLDING 01/30/32                                       | CUSIP: 74839XAL3<br>LEI: 5493007KIN86DIZWZT22 | Long             | LON              | CORP              | US        |   1007388 | PA      | $1008252.85   | 0.47%             | 2032-02-10      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| ARSENAL AIC PARENT LLC              | ARSENAL AIC PARENT LLC                                          | CUSIP: 04287KAG6<br>LEI: 254900G9F9HA5EP57J39 | Long             | LON              | CORP              | US        |    863992 | PA      | $867231.49    | 0.41%             | 2030-08-19      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| CHAMPIONS FINANCING INC             | CHAMPIONS FINANCING INC                                         | CUSIP: 15870MAC0<br>LEI: 391200ZDD75EGEUJ7625 | Long             | LON              | CORP              | US        |   1552797 | PA      | $1451217.48   | 0.68%             | 2029-02-23      | Floating      | 8.57%                 | No            |                  2 | On Loan: No      |
| EP PURCHASER LLC                    | EP Purchaser LLC                                                | CUSIP: 26881KAC8<br>LEI: 549300GGODRVQG1GH476 | Long             | LON              | CORP              | US        |   1208085 | PA      | $742972.47    | 0.35%             | 2028-11-06      | Floating      | 7.44%                 | No            |                  2 | On Loan: No      |
| NOVELIS CORP                        | Novelis Corp                                                    | CUSIP: 670001AH9<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $915067.50    | 0.43%             | 2031-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| AMNEAL PHARMACEUTICALS L            | AMNEAL PHARMACEUTICALS LLC                                      | CUSIP: 03167DAR5<br>LEI: 54930037VIXE7LRZ1M66 | Long             | LON              | CORP              | US        |   1307722 | PA      | $1314261.11   | 0.62%             | 2032-08-02      | Floating      | 7.17%                 | No            |                  2 | On Loan: No      |
| FLOODSMART RE LTD                   | FloodSmart Re Ltd                                               | CUSIP: 33975CAM7<br>LEI: 549300KK1LNVFW95S875 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $253750.00    | 0.12%             | 2026-03-11      | Floating      | 20.67%                | Yes           |                  2 | On Loan: No      |
| FIRST ADVANTAGE HOLDINGS            | FIRST ADVANTAGE HOLDINGS LLC                                    | CUSIP: 78477MAH4<br>LEI: 549300MRQE5MQEH3BI02 | Long             | LON              | CORP              | US        |    741236 | PA      | $716219.29    | 0.34%             | 2031-10-31      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| EYECARE PARTNERS LLC                | EYECARE PARTNERS LLC                                            | CUSIP: 30233PAT7<br>LEI: 254900ZAACWK09RJ8W93 | Long             | LON              | CORP              | US        |   1828502 | PA      | $804540.94    | 0.38%             | 2028-11-30      | Floating      | 4.17%                 | No            |                  2 | On Loan: No      |
| GRINDING MEDIA INC                  | GRINDING MEDIA INC                                              | CUSIP: 39854KAC4<br>LEI: 254900IYFJ03EGFQ8C34 | Long             | LON              | CORP              | US        |   1256871 | PA      | $1257656.78   | 0.59%             | 2028-10-12      | Floating      | 7.34%                 | No            |                  2 | On Loan: No      |
| TOWNSQUARE MEDIA INC                | TOWNSQUARE MEDIA INC                                            | CUSIP: 89223EAG8<br>LEI: 549300XBA8C68H0DR538 | Long             | LON              | CORP              | US        |    995810 | PA      | $734410.09    | 0.34%             | 2030-02-19      | Floating      | 8.88%                 | No            |                  2 | On Loan: No      |
| MCGRAW-HILL EDUCATION               | MCGRAW-HILL EDUCATION                                           | CUSIP: 58063DAG8<br>LEI: 254900U6YJ9QZ4IQOR26 | Long             | LON              | CORP              | US        |    973243 | PA      | $977348.83    | 0.46%             | 2031-08-06      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HOLDINGS INC  | CLEAR CHANNEL OUTDOOR HO                                        | CUSIP: 18452RAF2<br>LEI: 254900XBEE6V1ENYS150 | Long             | LON              | CORP              | US        |    801452 | PA      | $803055.12    | 0.38%             | 2028-08-23      | Floating      | 7.79%                 | No            |                  2 | On Loan: No      |
| SS&C TECHNOLOGIES INC               | SS&C TECHNOLOGIES INC                                           | CUSIP: 78466DBJ2<br>LEI: 549300KY09TR3J12JU49 | Long             | LON              | CORP              | US        |   1147493 | PA      | $1149016.64   | 0.54%             | 2031-05-09      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| GAINWELL ACQUISITION COR            | Gainwell Acquisition Corp                                       | CUSIP: 59909TAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1954259 | PA      | $1874255.28   | 0.88%             | 2027-10-01      | Floating      | 7.77%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL CALCASIEU            | Venture Global Calcasieu Pass LLC                               | CUSIP: 92328MAA1<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |    500000 | PA      | $475009.65    | 0.22%             | 2029-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| AHEAD DB HOLDINGS LLC               | AHEAD DB HOLDINGS LLC                                           | CUSIP: 00866HAH8<br>LEI: 254900L07WFL833JX193 | Long             | LON              | CORP              | US        |   1224450 | PA      | $1215777.30   | 0.57%             | 2031-02-03      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| CORNERSTONE BUILDING                | Cornerstone Building Brands Inc                                 | CUSIP: 72431HAD2<br>LEI: 549300IW41QEWQ6T0H29 | Long             | LON              | CORP              | US        |    442682 | PA      | $345766.08    | 0.16%             | 2028-04-12      | Floating      | 7.03%                 | No            |                  2 | On Loan: No      |
| PRO MACH GROUP INC                  | PRO MACH GROUP INC                                              | CUSIP: 74273JAL7<br>LEI: 5493008SZGSVUCSNB151 | Long             | LON              | CORP              | US        |    385000 | PA      | $385902.44    | 0.18%             | 2032-10-18      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| DIRECTV FINANCING LLC               | DIRECTV FINANCING LLC                                           | CUSIP: 25460HAD4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    617218 | PA      | $618954.00    | 0.29%             | 2029-08-02      | Floating      | 9.18%                 | No            |                  2 | On Loan: No      |
| DOTDASH MEREDITH INC                | DOTDASH MEREDITH INC                                            | CUSIP: 25849KAH0<br>LEI: 549300R2AA7U9CJUQO13 | Long             | LON              | CORP              | US        |    480000 | PA      | $439140.00    | 0.21%             | 2032-06-16      | Floating      | 7.20%                 | No            |                  2 | On Loan: No      |
| ANKURA CONSULTING GROUP             | ANKURA CONSULTING GROUP LLC                                     | CUSIP: 03539PAJ7<br>LEI: 549300VJ5EU1KWD54I45 | Long             | LON              | CORP              | US        |    874048 | PA      | $854563.27    | 0.40%             | 2031-12-29      | Floating      | 7.17%                 | No            |                  2 | On Loan: No      |
| PRIME SECURITY SERVICES BOR         | PRIME SECURITY SERVICES BOR                                     | CUSIP: 03765VAP5<br>LEI: 549300O6QPZVWXV2DC15 | Long             | LON              | CORP              | US        |    862639 | PA      | $861493.15    | 0.40%             | 2030-10-15      | Floating      | 5.69%                 | No            |                  2 | On Loan: No      |
| KOPPERS INC                         | KOPPERS INC                                                     | CUSIP: 50060JAH3<br>LEI: LTO4ZL5EBDR1NE6FGJ36 | Long             | LON              | CORP              | US        |   1219007 | PA      | $1216467.76   | 0.57%             | 2030-04-10      | Floating      | 6.18%                 | No            |                  2 | On Loan: No      |
| VITALITY RE XIV LTD                 | Vitality Re XIV Ltd                                             | CUSIP: 92851QAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    250000 | PA      | $253275.00    | 0.12%             | 2027-01-05      | Floating      | 7.02%                 | Yes           |                  2 | On Loan: No      |
| TIDAL WASTE & RECYCLING             | TIDAL WASTE & RECYCLING                                         | CUSIP: 88636PAK7<br>LEI: 254900IQT82RE5KFAZ50 | Long             | LON              | CORP              | US        |    906153 | PA      | $911816.95    | 0.43%             | 2031-10-24      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| EVERGREEN ACQCO 1 LP                | EVERGREEN ACQCO 1 LP                                            | CUSIP: 30015FAJ5<br>LEI: 549300F6POVHG3ME8T95 | Long             | LON              | CORP              | US        |    422427 | PA      | $423799.55    | 0.20%             | 2032-09-17      | Floating      | 6.70%                 | No            |                  2 | On Loan: No      |
| Crown Point CLO Ltd                 | Crown Point CLO 11 Ltd                                          | CUSIP: 22845KAE8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $990000.00    | 0.46%             | 2038-02-28      | Floating      | 9.82%                 | No            |                  2 | On Loan: No      |
| AI AQUA MERGER SUB INC              | AI AQUA MERGER SUB INC                                          | CUSIP: 00132UAP9<br>LEI: 5493005QMH1D47U26R45 | Long             | LON              | CORP              | US        |   2217465 | PA      | $2219859.87   | 1.04%             | 2028-07-31      | Floating      | 6.77%                 | No            |                  2 | On Loan: No      |
| LIGHTNING POWER LLC                 | LIGHTNING POWER LLC                                             | CUSIP: 53229LAB3<br>LEI: 254900BWCHJ03XRL8K59 | Long             | LON              | CORP              | US        |   1168212 | PA      | $1171700.78   | 0.55%             | 2031-08-18      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| GRAY MEDIA INC                      | Gray Media Inc                                                  | CUSIP: 389375AP1<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |    575000 | PA      | $588669.48    | 0.28%             | 2033-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ASURION LLC                         | Asurion LLC                                                     | CUSIP: 04649VBA7<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |    294393 | PA      | $294791.13    | 0.14%             | 2029-01-22      | Floating      | 9.04%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                | FREMF 2020-KF83 Mortgage Trust                                  | CUSIP: 302696AA7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     92783 | PA      | $94757.42     | 0.04%             | 2030-07-25      | Floating      | 12.90%                | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fund             | Dryden 41 Senior Loan Fund                                      | CUSIP: 26244KAU0<br>LEI: 5493000CMI5L15ZSNM78 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1003742.00   | 0.47%             | 2031-04-15      | Floating      | 6.53%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP            | Hilcorp Energy I LP / Hilcorp Finance Co                        | CUSIP: 431318BE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $963727.72    | 0.45%             | 2034-05-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| SOUND INPATIENT PHYSICIA            | SOUND INPATIENT PHYSICIA                                        | CUSIP: 83607JAF8<br>LEI: 54930047QBMPL027P218 | Long             | LON              | CORP              | US        |    300146 | PA      | $285513.94    | 0.13%             | 2029-06-28      | Floating      | 10.68%                | No            |                  2 | On Loan: No      |
| GREAT OUTDOORS GROUP LLC            | GREAT OUTDOORS GROUP LLC                                        | CUSIP: 07014QAP6<br>LEI: 549300IYLDI2E8I2AU46 | Long             | LON              | CORP              | US        |   1233072 | PA      | $1236044.66   | 0.58%             | 2032-01-23      | Floating      | 6.92%                 | No            |                  2 | On Loan: No      |
| SOUTHERN VETERINARY PART            | SOUTHERN VETERINARY PARTNERS LLC                                | CUSIP: 84410HAQ3<br>LEI: 549300DT78GYJYRK0R74 | Long             | LON              | CORP              | US        |    622882 | PA      | $622937.64    | 0.29%             | 2031-12-04      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| HARBOR FREIGHT TOOLS                | HARBOR FREIGHT TOOLS USA INC                                    | CUSIP: 41151PAR6<br>LEI: 549300Y48HLCFTTB4249 | Long             | LON              | CORP              | US        |   1501612 | PA      | $1483110.46   | 0.69%             | 2031-06-11      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                | LIFEPOINT HEALTH INC                                            | CUSIP: 75915TAL6<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | LON              | CORP              | US        |   1584978 | PA      | $1583822.18   | 0.74%             | 2031-05-19      | Floating      | 7.15%                 | No            |                  2 | On Loan: No      |
| PETCO HEALTH & WELLNESS             | Petco Health & Wellness Co Inc                                  | CUSIP: 71601HAB2<br>LEI: 2549007TYGV6RVSE9M61 | Long             | LON              | CORP              | US        |   1954997 | PA      | $1952825.37   | 0.91%             | 2028-03-06      | Floating      | 7.18%                 | No            |                  2 | On Loan: No      |
| CITADEL SECURITIES LP               | CITADEL SECURITIES LP                                           | CUSIP: 17288YAN2<br>LEI: 549300NV5RXBUS3X7L47 | Long             | LON              | CORP              | US        |   1334249 | PA      | $1337584.37   | 0.63%             | 2031-10-31      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| SOLENIS HOLDINGS LTD                | SOLENIS HOLDINGS LTD                                            | CUSIP: 68163YAJ4<br>LEI: 549300YU2GGVCBN3MY89 | Long             | LON              | CORP              | US        |    972000 | PA      | $958027.81    | 0.45%             | 2031-06-23      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| WINDSTREAM SERVICES LLC             | WINDSTREAM SERVICES LLC                                         | CUSIP: 97381JAK9<br>LEI: 549300KT9GVEBYCD2N29 | Long             | LON              | CORP              | US        |    370000 | PA      | $370925.00    | 0.17%             | 2032-10-06      | Floating      | 7.67%                 | No            |                  2 | On Loan: No      |
| SANDERS RE II LTD                   | Sanders RE II Ltd                                               | CUSIP: 80001RAB7<br>LEI: 254900VRQU0N0MF3CT92 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $259075.00    | 0.12%             | 2029-04-07      | Floating      | 8.92%                 | Yes           |                  2 | On Loan: No      |
| ALLIED UNIVERSAL HOLDCO             | ALLIED UNIVERSAL HOLDCO                                         | CUSIP: 01957TAX5<br>LEI: 98450038B4549046D794 | Long             | LON              | CORP              | US        |    957131 | PA      | $959252.18    | 0.45%             | 2032-08-20      | Floating      | 6.92%                 | No            |                  2 | On Loan: No      |
| FLEET US BIDCO INC                  | FLEET US BIDCO INC                                              | CUSIP: 33902UAD5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    728175 | PA      | $730905.66    | 0.34%             | 2031-02-10      | Floating      | 6.79%                 | No            |                  2 | On Loan: No      |
| IMC GLOBAL HOLDINGS LLC             | IMC GLOBAL HOLDINGS LLC                                         | CUSIP: 44967NAB4<br>LEI: 724500MHXKWDKAGMOW56 | Long             | LON              | CORP              | NL        |    453720 | PA      | $457122.90    | 0.21%             | 2032-06-21      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| HYPERION REFINANCE SARL             | HYPERION REFINANCE SARL                                         | CUSIP: 000000000<br>LEI: 213800R6D9EVRN5D3117 | Long             | LON              | CORP              | LU        |    913750 | PA      | $913423.58    | 0.43%             | 2031-02-18      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| M6 ETX HOLDINGS II MIDCO            | M6 ETX HOLDINGS II MIDCO                                        | CUSIP: 55285DAJ0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    676615 | PA      | $679152.74    | 0.32%             | 2032-04-01      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| KBR INC                             | KBR INC                                                         | CUSIP: 48242YAW2<br>LEI: 254900OFQDXZRKRCV808 | Long             | LON              | CORP              | US        |    738722 | PA      | $742774.43    | 0.35%             | 2031-01-17      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| SCIL IV LLC                         | SCIL IV LLC                                                     | CUSIP: 000000000<br>LEI: 984500E0P46NA78BDF93 | Long             | LON              | CORP              | US        |    875000 | PA      | $877187.50    | 0.41%             | 2032-10-29      | Floating      | 7.79%                 | No            |                  2 | On Loan: No      |
| WINDSOR HOLDINGS III LLC            | WINDSOR HOLDINGS III LLC                                        | CUSIP: 97360BAH8<br>LEI: 254900IXUJZ9H146T437 | Long             | LON              | CORP              | US        |    588075 | PA      | $589912.46    | 0.28%             | 2030-08-01      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| HOPPER MERGER SUB INC               | HOPPER MERGER SUB INC                                           | CUSIP: 000000000<br>LEI: 9845009E9B4548A5N478 | Long             | LON              | CORP              | US        |    637861 | PA      | $633834.82    | 0.30%             | 2033-01-14      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC            | Vistra Operations Co LLC                                        | CUSIP: 92840VAH5<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    500000 | PA      | $493740.75    | 0.23%             | 2029-05-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| TRAVERSE MIDSTREAM PARTN            | TRAVERSE MIDSTREAM PARTN                                        | CUSIP: 000000000<br>LEI: 549300DHTM8B2X5QMJ22 | Long             | LON              | CORP              | US        |   1574712 | PA      | $1576680.79   | 0.74%             | 2028-02-16      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| ARAMARK SERVICES INC                | ARAMARK SERVICES INC                                            | CUSIP: 03852JBC4<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | LON              | CORP              | US        |   1166339 | PA      | $1170275.65   | 0.55%             | 2030-06-24      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| PETCO HEALTH & WELLNESS CO INC      | PETCO HEALTH & WELLNESS CO INC                                  | CUSIP: 71601HAG1<br>LEI: 2549007TYGV6RVSE9M61 | Long             | LON              | CORP              | US        |   1293575 | PA      | $1269118.67   | 0.59%             | 2031-01-22      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| GLOVES BUYER INC                    | GLOVES BUYER INC                                                | CUSIP: 37987UAG7<br>LEI: 54930015O0Y94T5H8Z18 | Long             | LON              | CORP              | US        |    880792 | PA      | $877049.13    | 0.41%             | 2032-05-24      | Floating      | 7.67%                 | No            |                  2 | On Loan: No      |
| AADVANTAGE LOYALTY IP               | AADVANTAGE LOYALTY IP LTD                                       | CUSIP: 02376CBS3<br>LEI: N/A                  | Long             | LON              | CORP              | KY        |   1001736 | PA      | $1001360.11   | 0.47%             | 2028-04-20      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| SANDERS RE II LTD                   | Sanders RE II Ltd                                               | CUSIP: 80001RAA9<br>LEI: 254900VRQU0N0MF3CT92 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $254675.00    | 0.12%             | 2029-04-07      | Floating      | 7.55%                 | Yes           |                  2 | On Loan: No      |
| TAILORED BRANDS INC                 | TAILORED BRANDS INC                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    189296 | PA      | $189650.93    | 0.09%             | 2031-01-22      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| VOYAGER PARENT LLC                  | VOYAGER PARENT LLC                                              | CUSIP: 92921HAD7<br>LEI: 2549002DYVI4ACSV4V71 | Long             | LON              | CORP              | US        |    748125 | PA      | $748709.29    | 0.35%             | 2032-07-01      | Floating      | 7.91%                 | No            |                  2 | On Loan: No      |
| 3264 RE LTD                         | 3264 re Ltd                                                     | CUSIP: 88577CAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $262925.00    | 0.12%             | 2027-07-08      | Floating      | 10.52%                | Yes           |                  2 | On Loan: No      |
| LACKAWANNA ENERGY CENTER            | LACKAWANNA ENERGY CENTER                                        | CUSIP: 000000000<br>LEI: 549300IW2LJBNY42EC59 | Long             | LON              | CORP              | US        |    412196 | PA      | $415158.47    | 0.19%             | 2032-08-05      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| INEOS US FINANCE LLC                | INEOS US FINANCE LLC                                            | CUSIP: 000000000<br>LEI: 5493008MHJ4R367SNK31 | Long             | LON              | CORP              | US        |   1817017 | PA      | $1358220.04   | 0.64%             | 2030-02-19      | Floating      | 6.92%                 | No            |                  2 | On Loan: No      |
| TOPGOLF CALLAWAY BRANDS             | TOPGOLF CALLAWAY BRANDS CORP                                    | CUSIP: 89071LAB6<br>LEI: 5493005UB0KFRKBPCU72 | Long             | LON              | CORP              | US        |     61255 | PA      | $61599.43     | 0.03%             | 2030-03-18      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| MH SUB I LLC                        | MH SUB I LLC                                                    | CUSIP: 45567YAP0<br>LEI: 2549005VFKP807SR8N49 | Long             | LON              | CORP              | US        |   2330686 | PA      | $1917406.20   | 0.90%             | 2031-12-31      | Floating      | 7.92%                 | No            |                  2 | On Loan: No      |
| Pitney Bowes Inc                    | PITNEY BOWE 01/31/32                                            | CUSIP: 72448FAW5<br>LEI: 549300N2O26NW4ST6W55 | Long             | LON              | CORP              | US        |   1135314 | PA      | $1130111.10   | 0.53%             | 2032-03-19      | Floating      | 7.42%                 | No            |                  2 | On Loan: No      |
| US ANESTHESIA PARTNERS              | US Anesthesia Partners Inc                                      | CUSIP: 90350HAL3<br>LEI: 549300J001GMNRO7SQ51 | Long             | LON              | CORP              | US        |    952664 | PA      | $952961.38    | 0.45%             | 2028-10-02      | Floating      | 7.81%                 | No            |                  2 | On Loan: No      |
| PHOENIX GUARANTOR INC               | PHOENIX GUARANTOR INC                                           | CUSIP: 71913BAK8<br>LEI: 254900JIOIDL3GSUFE55 | Long             | LON              | CORP              | US        |   1929558 | PA      | $1929106.25   | 0.90%             | 2031-02-21      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| WILDFIRE INTERMEDIATE HO            | Wildfire Intermediate Holdings LLC                              | CUSIP: 96812HAA6<br>LEI: 5493003RHEMQJZEXIR02 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1013786.00   | 0.47%             | 2029-10-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| SMARTRONIX LLC                      | SMARTRONIX LLC                                                  | CUSIP: 89617EAB3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1219782 | PA      | $1221307.23   | 0.57%             | 2032-02-09      | Floating      | 8.17%                 | No            |                  2 | On Loan: No      |
| NOURYON FINANCE BV                  | NOURYON FINANCE BV                                              | CUSIP: 000000000<br>LEI: 549300GD4NJGLPVYB245 | Long             | LON              | CORP              | NL        |    238922 | PA      | $239070.88    | 0.11%             | 2028-04-03      | Floating      | 7.04%                 | No            |                  2 | On Loan: No      |
| TORTUGA RESORTS GHD LLC             | TORTUGA RESORTS GHD LLC                                         | CUSIP: 89776TAB7<br>LEI: 254900RI25V4FBT02P38 | Long             | LON              | CORP              | US        |    430000 | PA      | $429731.25    | 0.20%             | 2032-12-30      | Floating      | 6.94%                 | No            |                  2 | On Loan: No      |
| COORSTECK INC                       | COORSTECK INC                                                   | CUSIP: 21702EAF3<br>LEI: GHWONX83GNDLWPBRQQ83 | Long             | LON              | CORP              | US        |    445000 | PA      | $448337.50    | 0.21%             | 2032-10-28      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| PADAGIS LLC                         | Padagis LLC                                                     | CUSIP: 69526PAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1162912 | PA      | $1064064.26   | 0.50%             | 2028-07-06      | Floating      | 8.66%                 | No            |                  2 | On Loan: No      |
| CHARIOT BUYER LLC                   | CHARIOT BUYER LLC                                               | CUSIP: 15963CAE6<br>LEI: 25490092IFNOZBRVE539 | Long             | LON              | CORP              | US        |   1208925 | PA      | $1209356.59   | 0.57%             | 2032-09-08      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| APPLE BIDCO LLC                     | APPLE BIDCO LLC                                                 | CUSIP: 48254EAG6<br>LEI: 2549001SCJD3WEYJFM53 | Long             | LON              | CORP              | US        |   1303377 | PA      | $1305983.26   | 0.61%             | 2031-09-23      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                    | CIFC Funding 2025-II Ltd                                        | CUSIP: 17181DAJ5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1002221.00   | 0.47%             | 2038-04-15      | Floating      | 7.22%                 | No            |                  2 | On Loan: No      |
| JFL-TIGER ACQUISITION CO            | JFL-TIGER ACQUISITION CO                                        | CUSIP: 465966AB5<br>LEI: 254900KPFL42CYD2VY03 | Long             | LON              | CORP              | US        |   1158487 | PA      | $1167176.00   | 0.55%             | 2030-10-17      | Floating      | 7.42%                 | No            |                  2 | On Loan: No      |
| SOUND INPATIENT PHYSICIANS Inc      | SOUND INPATIENT PHYSICIANS Inc                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17772 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| AMAZON HOLDCO INC                   | AMAZON HOLDCO INC                                               | CUSIP: 02351XAB4<br>LEI: 2549009FJIBLW40CU216 | Long             | LON              | CORP              | US        |    527147 | PA      | $528728.77    | 0.25%             | 2031-09-29      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| SUMMIT BEHAVIORAL HEALTH            | SUMMIT BEHAVIORAL HEALTHCARE LLC                                | CUSIP: 86602KAH9<br>LEI: 254900QVBD0VL3INID05 | Long             | LON              | CORP              | US        |    202922 | PA      | $208925.45    | 0.10%             | 2030-10-15      | Floating      | 9.68%                 | No            |                  2 | On Loan: No      |
| JEFFERIES FINANCE LLC               | JEFFERIES FINANCE LLC                                           | CUSIP: 000000000<br>LEI: 549300SKVB18YSSIDT75 | Long             | LON              | CORP              | US        |    655380 | PA      | $655584.48    | 0.31%             | 2031-10-21      | Floating      | 6.43%                 | No            |                  2 | On Loan: No      |
| REALPAGE INC                        | RealPage Inc                                                    | CUSIP: 75605VAD4<br>LEI: 5493001RSFZX4122A604 | Long             | LON              | CORP              | US        |   1248077 | PA      | $1234035.65   | 0.58%             | 2028-04-24      | Floating      | 6.93%                 | No            |                  2 | On Loan: No      |
| CARRIAGE PURCHASER INC              | CARRIAGE PURCHASER INC                                          | CUSIP: 14445BAB5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1621080 | PA      | $1629861.79   | 0.76%             | 2028-09-29      | Floating      | 7.17%                 | No            |                  2 | On Loan: No      |
| CROWN FINANCE US INC                | CROWN FINANCE US INC                                            | CUSIP: 22834KAV3<br>LEI: 254900ABTWPQTCKKR839 | Long             | LON              | CORP              | US        |   1237663 | PA      | $1205173.95   | 0.56%             | 2031-12-02      | Floating      | 8.19%                 | No            |                  2 | On Loan: No      |
| ASURION LLC                         | Asurion LLC                                                     | CUSIP: 04649VBC3<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |    780947 | PA      | $782655.68    | 0.37%             | 2028-08-21      | Floating      | 8.02%                 | No            |                  2 | On Loan: No      |
| METHANEX US OPERATIONS              | Methanex US Operations Inc                                      | CUSIP: 59151LAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1031216.00   | 0.48%             | 2032-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| JUPITER BUYER INC                   | JUPITER BUYER INC                                               | CUSIP: 48205CAC9<br>LEI: 254900FACU3AJQKAQ270 | Long             | LON              | CORP              | US        |   1175476 | PA      | $1187782.28   | 0.56%             | 2031-11-03      | Floating      | 7.92%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                  | Ally Financial Inc                                              | CUSIP: 02005NBV1<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1031266.87   | 0.48%             | 2035-07-26      | Fixed         | 6.18%                 | No            |                  2 | On Loan: No      |
| JAZZ FINANCING LUX SARL             | JAZZ FINANCING LUX SARL                                         | CUSIP: 000000000<br>LEI: 635400WUEO2NSG5OIU34 | Long             | LON              | CORP              | LU        |   1123244 | PA      | $1128222.54   | 0.53%             | 2028-05-05      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| SANDISK CORP                        | SANDISK CORP                                                    | CUSIP: 80004YAC7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    373599 | PA      | $375156.06    | 0.18%             | 2032-02-23      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| PARK RIVER HOLDINGS INC             | PARK RIVER HOLDINGS INC                                         | CUSIP: 70082HAE6<br>LEI: 254900PGY077KWCROT75 | Long             | LON              | CORP              | US        |    782000 | PA      | $786561.41    | 0.37%             | 2031-03-17      | Floating      | 8.16%                 | No            |                  2 | On Loan: No      |
| GENESYS CLOUD SERVICES              | GENESYS CLOUD SERVICES                                          | CUSIP: 39479UAY9<br>LEI: 254900CRMBG6WX4HX396 | Long             | LON              | CORP              | US        |   1004850 | PA      | $980147.77    | 0.46%             | 2032-01-30      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| HANGER INC                          | HANGER INC                                                      | CUSIP: 41043BAJ7<br>LEI: 254900ZJJJYVLHJXSZ60 | Long             | LON              | CORP              | US        |    215796 | PA      | $216659.26    | 0.10%             | 2031-10-23      | Floating      | 5.66%                 | No            |                  2 | On Loan: No      |
| GOAT HOLDCO LLC                     | Goat Holdco LLC                                                 | CUSIP: 38021MAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1027023.00   | 0.48%             | 2032-02-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ASURION LLC                         | Asurion LLC                                                     | CUSIP: 04649VBB5<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |   1399682 | PA      | $1403006.74   | 0.66%             | 2028-08-21      | Floating      | 7.77%                 | No            |                  2 | On Loan: No      |
| GROUPE SOLMAX INC                   | Groupe Solmax Inc                                               | CUSIP: 000000000<br>LEI: 549300UUEKZ3HF9FNI46 | Long             | LON              | CORP              | CA        |   2709391 | PA      | $2305523.65   | 1.08%             | 2028-07-24      | Floating      | 8.62%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                       | TRANSDIGM INC                                                   | CUSIP: 89364MCF9<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |    778050 | PA      | $778244.51    | 0.36%             | 2030-03-22      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| ALPHA GENERATION LLC                | ALPHA GENERATION LLC                                            | CUSIP: 000000000<br>LEI: 254900K5V62L4YGVKF49 | Long             | LON              | CORP              | US        |    643850 | PA      | $643972.33    | 0.30%             | 2031-09-30      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| PRIME SECURITY SERVICES BOR         | PRIME SECURITY SERVICES BOR                                     | CUSIP: 03765VAQ3<br>LEI: 549300O6QPZVWXV2DC15 | Long             | LON              | CORP              | US        |    261342 | PA      | $260361.68    | 0.12%             | 2032-03-08      | Floating      | 5.44%                 | No            |                  2 | On Loan: No      |
| SOTERA HEALTH HLDGS LLC             | SOTERA HEALTH HLDGS LLC                                         | CUSIP: 83600VAH4<br>LEI: 549300OVT7MBXFLOFU20 | Long             | LON              | CORP              | US        |   1721765 | PA      | $1728758.65   | 0.81%             | 2031-05-30      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| NOURYON FINANCE BV                  | NOURYON FINANCE BV                                              | CUSIP: 000000000<br>LEI: 549300GD4NJGLPVYB245 | Long             | LON              | CORP              | NL        |    588071 | PA      | $587519.53    | 0.28%             | 2028-04-03      | Floating      | 6.92%                 | No            |                  2 | On Loan: No      |
| CORNERSTONE ONDEMAND INC            | Cornerstone OnDemand Inc                                        | CUSIP: 86803YAB9<br>LEI: 549300Z402F16H5EGH48 | Long             | LON              | CORP              | US        |    673750 | PA      | $555843.75    | 0.26%             | 2028-10-16      | Floating      | 7.54%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                   | IRON MOUNTAIN INC                                               | CUSIP: 46284NAV1<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | LON              | CORP              | US        |    347289 | PA      | $344105.73    | 0.16%             | 2031-01-31      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| JUPITER BUYER INC                   | JUPITER BUYER INC                                               | CUSIP: 48205CAD7<br>LEI: 254900FACU3AJQKAQ270 | Long             | LON              | CORP              | US        |    136655 | PA      | $138085.64    | 0.06%             | 2031-11-03      | Floating      | 4.25%                 | No            |                  2 | On Loan: No      |
| ION PLATFORM FINANCE US             | ION PLATFORM FINANCE US                                         | CUSIP: 46206RAC9<br>LEI: 213800FKHT3BRRKMCC89 | Long             | LON              | CORP              | US        |   1010000 | PA      | $914050.00    | 0.43%             | 2032-09-30      | Floating      | 7.42%                 | No            |                  2 | On Loan: No      |
| SEDGWICK CMS INC                    | SEDGWICK CLAIMS MANAGEMENT SERVICES INC                         | CUSIP: 81527CAP2<br>LEI: 549300BIN4DWJG5VWF64 | Long             | LON              | CORP              | US        |   1652554 | PA      | $1648422.71   | 0.77%             | 2031-07-31      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| CITIZENS FINANCIAL GROUP            | Citizens Financial Group Inc                                    | CUSIP: 174610BG9<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |    500000 | PA      | $547568.23    | 0.26%             | 2035-04-25      | Fixed         | 6.64%                 | No            |                  2 | On Loan: No      |
| FLUTTER FINANCING BV                | FLUTTER FINANCING BV                                            | CUSIP: 000000000<br>LEI: 635400VFWPBIKJK6GN11 | Long             | LON              | CORP              | NL        |    317415 | PA      | $317282.59    | 0.15%             | 2032-06-04      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| FIRST STUDENT BIDCO INC             | FIRST STUDENT BIDCO INC                                         | CUSIP: 33718FAN0<br>LEI: 2549006DRO2F06AA1391 | Long             | LON              | CORP              | US        |   1758705 | PA      | $1758548.67   | 0.82%             | 2030-08-15      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| CHARLOTTE BUYER INC                 | CHARLOTTE BUYER INC                                             | CUSIP: 12568YAH7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1376363 | PA      | $1346255.03   | 0.63%             | 2028-02-11      | Floating      | 7.92%                 | No            |                  2 | On Loan: No      |
| MIDAS OPCO HOLDINGS LLC             | Stagwell Global LLC                                             | CUSIP: 59565JAA9<br>LEI: 984500904E015Z0C1F82 | Long             | DBT              | CORP              | US        |    750000 | PA      | $727247.63    | 0.34%             | 2029-08-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| FLUTTER ENTERTAINMENT PL            | FLUTTER ENTERTAINMENT PLC                                       | CUSIP: 000000000<br>LEI: 635400VFWPBIKJK6GN11 | Long             | LON              | CORP              | NL        |    499800 | PA      | $500112.38    | 0.23%             | 2030-11-29      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| VISION SOLUTIONS INC                | Vision Solutions Inc                                            | CUSIP: 70477BAE2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1927891 | PA      | $1633084.06   | 0.77%             | 2028-04-24      | Floating      | 7.93%                 | No            |                  2 | On Loan: No      |
| AHLSTROM HLDG 3 OY                  | SPA HOLDINGS 3                                                  | CUSIP: 78475BAB3<br>LEI: 743700UEY0YM039XN974 | Long             | LON              | CORP              | FI        |    633818 | PA      | $635667.33    | 0.30%             | 2030-05-24      | Floating      | 8.18%                 | No            |                  2 | On Loan: No      |
| Dreyfus Government Cash Management  | Dreyfus Government Cash Management                              | CUSIP: 262006208<br>LEI: 5493000Q69I5Q3QZIA91 | Long             | STIV             | RF                | US        |  10564367 | NS      | $10564367.34  | 4.95%             |  |  |  | No            |                  1 | On Loan: No      |
| MERMAID BIDCO INC                   | MERMAID BIDCO INC                                               | CUSIP: 59012CAL9<br>LEI: 254900765HT42I3EW691 | Long             | LON              | CORP              | US        |    383645 | PA      | $377890.07    | 0.18%             | 2031-07-02      | Floating      | 7.15%                 | No            |                  2 | On Loan: No      |
| HUDSON RIVER TRADING LLC            | HUDSON RIVER TRADING LLC                                        | CUSIP: 44413EAK4<br>LEI: 549300SMOBUC8O5UOE10 | Long             | LON              | CORP              | US        |    892281 | PA      | $890369.26    | 0.42%             | 2030-03-18      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| Eastern Power LLC                   | EASTERN POWER LLC                                               | CUSIP: 87264NAB3<br>LEI: 5493000R3E1L1VM1V279 | Long             | LON              | CORP              | US        |   1892481 | PA      | $1905098.66   | 0.89%             | 2028-04-03      | Floating      | 8.92%                 | No            |                  2 | On Loan: No      |
| RVR DEALERSHIP HOLDINGS             | RVR DEALERSHIP HOLDINGS                                         | CUSIP: 75001CAB0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    606939 | PA      | $601324.79    | 0.28%             | 2028-02-08      | Floating      | 7.52%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                    | CIFC Funding 2025-II Ltd                                        | CUSIP: 17182BAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1000530.00   | 0.47%             | 2038-04-15      | Floating      | 8.07%                 | No            |                  2 | On Loan: No      |
| SANDERS RE III LTD                  | Sanders Re III Ltd                                              | CUSIP: 80000XAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $250250.00    | 0.12%             | 2026-04-07      | Floating      | 6.90%                 | Yes           |                  2 | On Loan: No      |
| LUCKY BUCKS LLC                     | LUCKY BUCKS LLC                                                 | CUSIP: 54951EAK1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    187416 | PA      | $143373.16    | 0.07%             | 2029-10-02      | Floating      | 5.83%                 | No            |                  2 | On Loan: No      |
| AXALTA COATING SYSTEMS US H         | AXALTA COATING SYSTEMS US H                                     | CUSIP: 90347BAP3<br>LEI: 549300NZ43V4QV4UGN28 | Long             | LON              | CORP              | US        |   1072230 | PA      | $1074576.22   | 0.50%             | 2029-12-20      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| Veritiv Operating Co                | VERITIV OPERATING CO                                            | CUSIP: 92338TAB2<br>LEI: 5493004G8OK5L1UTIY12 | Long             | LON              | CORP              | US        |    898178 | PA      | $878156.20    | 0.41%             | 2030-11-29      | Floating      | 7.67%                 | No            |                  2 | On Loan: No      |
| AEA INTERNATIONAL HOLDIN            | AEA INTERNATIONAL HOLDINGS LUXEMBOURG SARL                      | CUSIP: 46033XAE1<br>LEI: N/A                  | Long             | LON              | CORP              | LU        |    960474 | PA      | $960473.50    | 0.45%             | 2028-09-07      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| SUNRISE FINANCING PARTNERSH         | SUNRISE FINANCING PARTNERSH                                     | CUSIP: 000000000<br>LEI: 213800DXWIS9KORQ3X94 | Long             | LON              | CORP              | US        |   1174000 | PA      | $1173056.10   | 0.55%             | 2032-02-17      | Floating      | 6.13%                 | No            |                  2 | On Loan: No      |
| FORTRESS INTERMEDIATE               | FORTRESS INTERMEDIATE                                           | CUSIP: 34966LAD6<br>LEI: 254900NLAZ3JQJW5JP75 | Long             | LON              | CORP              | US        |   1373156 | PA      | $1337110.18   | 0.63%             | 2031-06-27      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| NOVAE LLC                           | Novae LLC                                                       | CUSIP: 66988QAB5<br>LEI: 549300IO3D43N4TFUV08 | Long             | LON              | CORP              | US        |   2646875 | PA      | $2443396.48   | 1.14%             | 2028-12-22      | Floating      | 8.82%                 | No            |                  2 | On Loan: No      |
| GTCR EVEREST BORROWER               | GTCR EVEREST BORROWER                                           | CUSIP: 36269YAD7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    306908 | PA      | $306524.12    | 0.14%             | 2031-09-05      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| ORGANON & CO                        | ORGANON & CO                                                    | CUSIP: 68621XAG8<br>LEI: 549300AMCKY57OK2CO56 | Long             | LON              | CORP              | US        |   2114718 | PA      | $2056941.54   | 0.96%             | 2031-05-19      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| SUNSOURCE BORROWER LLC              | SUNSOURCE BORROWER LLC                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    250000 | PA      | $249687.50    | 0.12%             | 2031-03-25      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| SHIFT4 PAYMENTS LLC/FIN             | Shift4 Payments LLC / Shift4 Payments Finance Sub Inc           | CUSIP: 82453AAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    750000 | PA      | $765144.00    | 0.36%             | 2032-08-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| RIVER ROCK ENTERTAINMENT            | RIVER ROCK ENTERTAINMENT AUTHORITY                              | CUSIP: 76837PAC7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    555000 | PA      | $541125.00    | 0.25%             | 2031-11-24      | Floating      | 12.67%                | No            |                  2 | On Loan: No      |
| COLUMBUS MCKINNON CORP              | COLUMBUS MCKINNON CORP/NY                                       | CUSIP: 19933MAS2<br>LEI: 549300W3HQB0HO1F3G69 | Long             | LON              | CORP              | US        |    520021 | PA      | $518395.93    | 0.24%             | 2033-01-24      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| SOUND INPATIENT PHYSICIA            | SOUND INPATIENT PHYSICIANS INC                                  | CUSIP: 83607JAE1<br>LEI: 54930047QBMPL027P218 | Long             | LON              | CORP              | US        |   1273533 | PA      | $1240633.44   | 0.58%             | 2028-06-28      | Floating      | 4.47%                 | No            |                  2 | On Loan: No      |
| LSF12 BADGER BIDCO LLC              | LSF12 BADGER BIDCO LLC                                          | CUSIP: 50221PAB8<br>LEI: 254900AQINKZO1M1LS24 | Long             | LON              | CORP              | US        |    968075 | PA      | $971705.43    | 0.46%             | 2030-07-10      | Floating      | 9.17%                 | No            |                  2 | On Loan: No      |
| ASURION LLC                         | ASURION LLC                                                     | CUSIP: 04649VBD1<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |    607426 | PA      | $609893.43    | 0.29%             | 2030-09-19      | Floating      | 7.92%                 | No            |                  2 | On Loan: No      |
| FIRST STUDENT BIDCO INC             | FIRST STUDENT BIDCO INC                                         | CUSIP: 33718FAP5<br>LEI: 2549006DRO2F06AA1391 | Long             | LON              | CORP              | US        |    321799 | PA      | $321832.73    | 0.15%             | 2030-08-15      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| MKS INSTRUMENTS INC                 | MKS INSTRUMENTS INC                                             | CUSIP: 55314NAZ7<br>LEI: 549300KEQATBHAGVF505 | Long             | LON              | CORP              | US        |    825839 | PA      | $826483.92    | 0.39%             | 2029-08-17      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| TRAVEL + LEISURE CO                 | WYNDHAM WORLDWIDE CORP                                          | CUSIP: 98309GAH9<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | LON              | CORP              | US        |    982594 | PA      | $984512.61    | 0.46%             | 2029-12-14      | Floating      | 5.74%                 | No            |                  2 | On Loan: No      |
| ALLSPRING BUYER LLC                 | ALLSPRING BUYER LLC                                             | CUSIP: 98922AAE6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1848394 | PA      | $1851089.05   | 0.87%             | 2030-11-01      | Floating      | 6.69%                 | No            |                  2 | On Loan: No      |
| EDELMAN FINANCIAL CENTER            | EDELMAN FINANCIAL ENGINES CENTER LLC/THE                        | CUSIP: 27943UAM8<br>LEI: 549300Z31KZXNP05U733 | Long             | LON              | CORP              | US        |    980426 | PA      | $983286.29    | 0.46%             | 2028-04-07      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| WINDSTREAM SERVICES LLC             | WINDSTREAM SERVICES LLC                                         | CUSIP: 97381JAJ2<br>LEI: 549300KT9GVEBYCD2N29 | Long             | LON              | CORP              | US        |   1605000 | PA      | $1619043.75   | 0.76%             | 2031-10-01      | Floating      | 8.52%                 | No            |                  2 | On Loan: No      |
| LONG RIDGE ENERGY LLC               | LONG RIDGE ENERGY LLC                                           | CUSIP: 000000000<br>LEI: 984500764EC9AZ2FC764 | Long             | LON              | CORP              | US        |   1193984 | PA      | $1189507.04   | 0.56%             | 2032-02-19      | Floating      | 8.17%                 | No            |                  2 | On Loan: No      |
| MEADE PIPELINE CO LLC               | MEADE PIPELINE CO LLC                                           | CUSIP: 58307PAB8<br>LEI: 254900UZE9CEDHUYSZ47 | Long             | LON              | CORP              | US        |    390000 | PA      | $390731.25    | 0.18%             | 2032-09-22      | Floating      | 5.69%                 | No            |                  2 | On Loan: No      |
| PROOFPOINT INC                      | PROOFPOINT INC                                                  | CUSIP: 74345HAJ0<br>LEI: 529900C5FODDK0WSR085 | Long             | LON              | CORP              | US        |    881927 | PA      | $870903.11    | 0.41%             | 2028-08-31      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| COHERENT CORP                       | COHERENT CORP                                                   | CUSIP: 45173JAT1<br>LEI: 549300O5C25A0MMHHU33 | Long             | LON              | CORP              | US        |    555307 | PA      | $558083.36    | 0.26%             | 2029-07-02      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| AI ALPINE AT BIDCO GMBH             | INNIO GROUP HOLDING GMBH                                        | CUSIP: 000000000<br>LEI: 2549000WCDQX6ZM7AW92 | Long             | LON              | CORP              | DE        |    725000 | PA      | $726359.38    | 0.34%             | 2028-11-02      | Floating      | 5.93%                 | No            |                  2 | On Loan: No      |
| HANGER INC                          | HANGER INC                                                      | CUSIP: 41043BAH1<br>LEI: 254900ZJJJYVLHJXSZ60 | Long             | LON              | CORP              | US        |   1667156 | PA      | $1673824.47   | 0.78%             | 2031-10-23      | Floating      | 7.17%                 | No            |                  2 | On Loan: No      |
| MSOF BEACON LLC                     | MSOF BEACON LLC                                                 | CUSIP: 000000000<br>LEI: 391200O5OFXXMCYPAR13 | Long             | LON              | CORP              | US        |   1000000 | PA      | $1001719.00   | 0.47%             | 2032-12-23      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| PROJECT ALPHA INTERMEDIA            | PROJECT ALPHA INTERMEDIATE HOLDING INC                          | CUSIP: 74339DAN8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    962911 | PA      | $893100.18    | 0.42%             | 2030-10-28      | Floating      | 6.92%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC              | CLOUD SOFTWARE GRP INC                                          | CUSIP: 88632NBK5<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | LON              | CORP              | US        |   2013390 | PA      | $1956511.74   | 0.92%             | 2031-03-24      | Floating      | 6.92%                 | No            |                  2 | On Loan: No      |
| ACRISURE LLC                        | ACRISURE LLC                                                    | CUSIP: 00488PAX3<br>LEI: 549300R0Z1Q47XRTGO22 | Long             | LON              | CORP              | US        |    856695 | PA      | $857587.68    | 0.40%             | 2032-06-21      | Floating      | 6.92%                 | No            |                  2 | On Loan: No      |
| AIP RD BUYER CORP                   | AIP RD BUYER CORP                                               | CUSIP: 00149HAC8<br>LEI: 5493000EBDLH9PYWBS30 | Long             | LON              | CORP              | US        |   1347989 | PA      | $1337878.77   | 0.63%             | 2030-12-23      | Floating      | 7.17%                 | No            |                  2 | On Loan: No      |
| KNIGHT HEALTH HOLDINGS L            | Knight Health Holdings LLC                                      | CUSIP: 49902TAB8<br>LEI: 2549008OACTDEJGJC870 | Long             | LON              | CORP              | US        |   1918307 | PA      | $637836.95    | 0.30%             | 2028-12-26      | Floating      | 9.04%                 | No            |                  2 | On Loan: No      |
| Cyberswift BV                       | NORD SECURITY TE 09/23/32                                       | CUSIP: 000000000<br>LEI: 9845008473F79E3H9069 | Long             | LON              | CORP              | NL        |    217000 | PA      | $216909.51    | 0.10%             | 2032-10-08      | Floating      | 7.65%                 | No            |                  2 | On Loan: No      |
| MATIV HOLDINGS INC                  | Mativ Holdings Inc                                              | CUSIP: 80854EAH1<br>LEI: 549300Z1FU4IDULG1R21 | Long             | LON              | CORP              | US        |    870458 | PA      | $867194.00    | 0.41%             | 2028-04-20      | Floating      | 7.54%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC               | CAESARS ENTERTAIN INC                                           | CUSIP: 12768EAH9<br>LEI: 549300FA4CTCW903Y781 | Long             | LON              | CORP              | US        |    385140 | PA      | $383214.30    | 0.18%             | 2031-02-06      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| Invesco Senior Loan ETF             | Invesco Senior Loan ETF                                         | CUSIP: 46138G508<br>LEI: 549300SIHU6DQELRNG59 | Long             | EC               | RF                | US        |     50000 | NS      | $1037000.00   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Clydesdale Acquisition Holdings Inc | CLYDESDALE ACQUISITION                                          | CUSIP: 18972FAC6<br>LEI: 254900QKSDYFR3K5YD98 | Long             | LON              | CORP              | US        |   1000000 | PA      | $996944.00    | 0.47%             | 2029-04-13      | Floating      | 6.85%                 | No            |                  2 | On Loan: No      |
| US RENAL CARE INC                   | US RENAL CARE INC                                               | CUSIP: 90290PAS3<br>LEI: 54930058SS5MF69JGN89 | Long             | LON              | CORP              | US        |   1514566 | PA      | $1430082.13   | 0.67%             | 2028-06-28      | Floating      | 8.79%                 | No            |                  2 | On Loan: No      |
| STONEPEAK NILE PARENT               | STONEPEAK NILE PARENT LLC                                       | CUSIP: 86184XAD6<br>LEI: 254900TJV3VAFZD0GU41 | Long             | LON              | CORP              | US        |    432000 | PA      | $432101.09    | 0.20%             | 2032-04-09      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| NEPTUNE BIDCO US INC                | NEPTUNE BIDCO US INC                                            | CUSIP: 64069JAK8<br>LEI: 549300VG15T3VCYZ4531 | Long             | LON              | CORP              | US        |    965000 | PA      | $957159.38    | 0.45%             | 2033-01-28      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| CHOBANI LLC                         | CHOBANI LLC                                                     | CUSIP: 17026YAL3<br>LEI: 549300ISVDMZ91KNTR38 | Long             | LON              | CORP              | US        |   3250000 | PA      | $3265236.00   | 1.53%             | 2032-10-28      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| FIESTA PURCHASER INC                | FIESTA PURCHASER INC                                            | CUSIP: 31659LAF9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1576110 | PA      | $1532109.59   | 0.72%             | 2031-02-12      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| GENESEE & WYOMING INC               | GENESEE & WYOMING INC                                           | CUSIP: 37156QAZ9<br>LEI: G617XSG94Z7G0RMW3L02 | Long             | LON              | CORP              | US        |   1072051 | PA      | $1071928.50   | 0.50%             | 2031-04-10      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| SUMMIT BEHAVIORAL HEALTH            | SUMMIT BEHAVIORAL HEALTHCARE LLC                                | CUSIP: 86602KAJ5<br>LEI: 254900QVBD0VL3INID05 | Long             | LON              | CORP              | US        |   1275742 | PA      | $1076406.98   | 0.50%             | 2030-10-15      | Floating      | 8.18%                 | No            |                  2 | On Loan: No      |
| AGGREKO HOLDINGS INC                | AGGREKO HOLDINGS INC                                            | CUSIP: 01330EAD0<br>LEI: 213800VFJ5CIN2NUQ821 | Long             | LON              | CORP              | US        |   1626875 | PA      | $1621790.77   | 0.76%             | 2031-05-21      | Floating      | 6.87%                 | No            |                  2 | On Loan: No      |
| KILIMANJARO II RE LTD               | Kilimanjaro II Re Ltd                                           | CUSIP: 49407QAH1<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $264150.00    | 0.12%             | 2028-06-30      | Floating      | 10.81%                | Yes           |                  2 | On Loan: No      |
| BAYONNE ENERGY CENTER LLC           | BAYONNE ENERGY CENTER LLC                                       | CUSIP: 07288VAF6<br>LEI: 54930011FOZUNGHGHM74 | Long             | LON              | CORP              | US        |    553612 | PA      | $557245.31    | 0.26%             | 2032-10-01      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| KARMAN HOLDINGS INC                 | KARMAN HOLDINGS INC                                             | CUSIP: 48571CAC5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    547251 | PA      | $550157.88    | 0.26%             | 2032-04-01      | Floating      | 7.17%                 | No            |                  2 | On Loan: No      |
| AMERICAN AXLE & MFG INC             | AMERICAN AXLE & MFG INC                                         | CUSIP: 02406MBB2<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | LON              | CORP              | US        |   1250000 | PA      | $1255208.75   | 0.59%             | 2032-09-20      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| LUCKY BUCKS LLC                     | LUCKY BUCKS LLC                                                 | CUSIP: 54951EAH8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     89495 | PA      | $83230.31     | 0.04%             | 2028-10-02      | Floating      | 11.66%                | No            |                  2 | On Loan: No      |
| CQP HOLDCO LP/BIP-V CHIN            | CQP Holdco LP / BIP-V Chinook Holdco LLC                        | CUSIP: 12657NAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    330000 | PA      | $354746.04    | 0.17%             | 2033-12-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                 | MEDLINE BORROWER LP                                             | CUSIP: 58503UAJ2<br>LEI: 254900QT3R363TVK6F09 | Long             | LON              | CORP              | US        |    542479 | PA      | $544174.06    | 0.25%             | 2030-10-23      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| LS GROUP OPCO ACQUISITIO            | LS GROUP OPCO ACQUISTION LLC                                    | CUSIP: 50220KAD6<br>LEI: 549300GJM1TKHPYFPF83 | Long             | LON              | CORP              | US        |    500000 | PA      | $500937.50    | 0.23%             | 2031-04-23      | Floating      | 6.30%                 | No            |                  2 | On Loan: No      |
| LC AHAB US BIDCO LLC                | LC AHAB US BIDCO LLC                                            | CUSIP: 50180PAB7<br>LEI: 254900949U9K2Q5C5A85 | Long             | LON              | CORP              | US        |    572750 | PA      | $574897.81    | 0.27%             | 2031-05-01      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| REYNOLDS CONSUMER PRODUC            | REYNOLDS CONSUMER PRODUCTS LLC                                  | CUSIP: 76171JAE1<br>LEI: 549300DWNZYMOSR1X343 | Long             | LON              | CORP              | US        |    744189 | PA      | $750003.11    | 0.35%             | 2032-03-04      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| GOAT HOLDCO LLC                     | GOAT HOLDCO LLC                                                 | CUSIP: 38021CAC2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    414643 | PA      | $415420.33    | 0.19%             | 2032-01-27      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| ARCLINE FM HOLDINGS LLC             | ARCLINE FM HOLDINGS LLC                                         | CUSIP: 03960DAJ2<br>LEI: 2549000HKCEC1E8UTO17 | Long             | LON              | CORP              | US        |   1707275 | PA      | $1714031.92   | 0.80%             | 2030-06-24      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC              | Cloud Software Group Inc                                        | CUSIP: 88632QAE3<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $993767.55    | 0.47%             | 2029-03-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FORMULATIONS PARENT CORP            | FORMULATIONS PARENT CORP                                        | CUSIP: 34641NAF0<br>LEI: 254900TKSKQSTLBC7A74 | Long             | LON              | CORP              | US        |   1017450 | PA      | $1019993.63   | 0.48%             | 2032-04-12      | Floating      | 7.65%                 | No            |                  2 | On Loan: No      |
| Vestis Corp                         | VESTIS TL B 1L USD                                              | CUSIP: 92550HAE3<br>LEI: 254900QDW0TA2TMFAP59 | Long             | LON              | CORP              | US        |    498750 | PA      | $468201.56    | 0.22%             | 2031-02-24      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| GRAY TELEVISION INC                 | GRAY TELEVISION INC                                             | CUSIP: 389376BC7<br>LEI: 529900TM5726KDN7UU35 | Long             | LON              | CORP              | US        |      9200 | PA      | $9212.94      | 0.00%             | 2029-06-04      | Floating      | 8.95%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC               | LEVEL 3 FINANCING INC                                           | CUSIP: 52729KAU0<br>LEI: 254900AE5FEFIJOXWL19 | Long             | LON              | CORP              | US        |    779943 | PA      | $784492.41    | 0.37%             | 2032-03-29      | Floating      | 6.92%                 | No            |                  2 | On Loan: No      |
| KILIMANJARO II RE LTD               | Kilimanjaro II Re Ltd                                           | CUSIP: 49407QAG3<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $262900.00    | 0.12%             | 2028-06-30      | Floating      | 9.81%                 | Yes           |                  2 | On Loan: No      |
| ION PLAT FIN US/SARL                | ION Platform Finance US Inc / ION Platform Finance SARL         | CUSIP: 46206AAF9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $960089.85    | 0.45%             | 2029-08-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Grupo Aeromexico SAB de CV          | Grupo Aeromexico SAB de CV                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |    339540 | NS      | $680012.59    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| LIFE TIME INC                       | LIFE TIME INC                                                   | CUSIP: 50218KAN8<br>LEI: 549300PALKE96VYH4X17 | Long             | LON              | CORP              | US        |    321758 | PA      | $323395.55    | 0.15%             | 2031-11-05      | Floating      | 5.69%                 | No            |                  2 | On Loan: No      |
| DAVITA INC                          | DAVITA INC                                                      | CUSIP: 23918VBC7<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | LON              | CORP              | US        |   1283799 | PA      | $1284257.07   | 0.60%             | 2031-05-09      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| CREATIVE PLANNING INC               | CREATIVE PLANNING LLC                                           | CUSIP: 1261MAAE0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    583048 | PA      | $581954.64    | 0.27%             | 2031-05-19      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| LBM ACQUISITION LLC                 | LBM ACQUISITION LLC                                             | CUSIP: 50179JAK4<br>LEI: 549300FAEB3VWZL4NI86 | Long             | LON              | CORP              | US        |    778050 | PA      | $779130.71    | 0.37%             | 2031-06-06      | Floating      | 8.67%                 | No            |                  2 | On Loan: No      |
| OPTION CARE HEALTH INC              | OPTION CARE HEALTH INC                                          | CUSIP: 68404YAD6<br>LEI: 549300DI3Q5ACSYJRI17 | Long             | LON              | CORP              | US        |    618029 | PA      | $620732.50    | 0.29%             | 2032-09-22      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| SOUND INPATIENT PHYSICIANS Holdings | SOUND INPATIENT PHYSICIANS Holdings                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    396983 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| UNITI GROUP/CSL CAPITAL             | Uniti Group LP / Uniti Group Finance 2019 Inc / CSL Capital LLC | CUSIP: 91327TAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    750000 | PA      | $757252.06    | 0.35%             | 2032-06-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| UPSTREAM NEWCO INC                  | UPSTREAM NEWCO INC                                              | CUSIP: 91678HAJ1<br>LEI: 549300Q4K2W4R1EBTH48 | Long             | LON              | CORP              | US        |   2379064 | PA      | $2157216.01   | 1.01%             | 2029-11-20      | Floating      | 4.84%                 | No            |                  2 | On Loan: No      |
| Magnetite CLO Ltd                   | Magnetite Xxx Ltd                                               | CUSIP: 55953UAW4<br>LEI: 549300RI4HRUG7CFWM27 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1005895.00   | 0.47%             | 2037-10-25      | Floating      | 7.86%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                | FREMF 2020-KF74 Mortgage Trust                                  | CUSIP: 30313MAC4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     74237 | PA      | $73595.43     | 0.03%             | 2027-01-25      | Floating      | 10.15%                | No            |                  2 | On Loan: No      |
| IDERA INC                           | IDERA INC                                                       | CUSIP: 45168RAT0<br>LEI: 549300VQ6S3PWR8NUC48 | Long             | LON              | CORP              | US        |   1319058 | PA      | $1171763.00   | 0.55%             | 2028-03-02      | Floating      | 7.35%                 | No            |                  2 | On Loan: No      |
| ONESKY FLIGHT LLC                   | OneSky Flight LLC                                               | CUSIP: 68278CAA3<br>LEI: 549300PM6NEPXGG5B882 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1069234.00   | 0.50%             | 2029-12-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| ADIENT US LLC                       | ADIENT US LLC                                                   | CUSIP: 000000000<br>LEI: 213800SOTRCDGZUHL712 | Long             | LON              | CORP              | US        |    436721 | PA      | $437321.74    | 0.20%             | 2031-01-29      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| ORION US FINCO                      | ORION US FINCO                                                  | CUSIP: 68631KAB5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    497000 | PA      | $498056.13    | 0.23%             | 2032-10-12      | Floating      | 7.15%                 | No            |                  2 | On Loan: No      |
| FITNESS & SPORTS CLUBS LLC          | FITNESS & SPORTS CLUBS LLC                                      | CUSIP: 33818XAM2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1954106 | PA      | $1961433.82   | 0.92%             | 2029-02-12      | Floating      | 8.17%                 | No            |                  2 | On Loan: No      |
| LUMEXA IMAGING INC                  | LUMEXA IMAGING INC                                              | CUSIP: 90372AAN8<br>LEI: 254900QCDFUYXJEFMY06 | Long             | LON              | CORP              | US        |    834837 | PA      | $838489.41    | 0.39%             | 2032-12-17      | Floating      | 6.70%                 | No            |                  2 | On Loan: No      |
| BONANZA RE LTD                      | Bonanza RE Ltd                                                  | CUSIP: 09785EAP6<br>LEI: 5493003F0CXUQ2C83105 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $251700.00    | 0.12%             | 2027-12-19      | Floating      | 7.37%                 | Yes           |                  2 | On Loan: No      |
| FRONERI US INC                      | FRONERI US INC                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    955000 | PA      | $954142.41    | 0.45%             | 2032-09-30      | Floating      | 5.88%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION              | CLYDESDALE ACQUISITION HOLDINGS INC                             | CUSIP: 18972FAE2<br>LEI: 254900QKSDYFR3K5YD98 | Long             | LON              | CORP              | US        |    865186 | PA      | $861597.38    | 0.40%             | 2032-04-01      | Floating      | 6.92%                 | No            |                  2 | On Loan: No      |
| HOUGHTON MIFFLIN HARCOUR            | Houghton Mifflin Harcourt Co                                    | CUSIP: 44157YAE4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1443883 | PA      | $1300622.60   | 0.61%             | 2029-04-09      | Floating      | 9.02%                 | No            |                  2 | On Loan: No      |
| Alturas Re 2022-2, 12/31/2027       | Alturas Re 2022-2, 12/31/2027                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |     19715 | PA      | $692.00       | 0.00%             | 2027-12-31      | None          | 0.00%                 | Yes           |                  3 | On Loan: No      |
| NEPTUNE BIDCO US INC                | Neptune Bidco US Inc                                            | CUSIP: 64069JAC6<br>LEI: 549300VG15T3VCYZ4531 | Long             | LON              | CORP              | US        |    937944 | PA      | $924754.79    | 0.43%             | 2029-04-11      | Floating      | 8.77%                 | No            |                  2 | On Loan: No      |
| Voya CLO Ltd                        | Voya CLO 2025-1 Ltd                                             | CUSIP: 92945JAG8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1008270.00   | 0.47%             | 2038-04-20      | Floating      | 7.42%                 | No            |                  2 | On Loan: No      |
| LSF12 HELIX PARENT LLC              | LSF12 HELIX PARENT LLC                                          | CUSIP: 000000000<br>LEI: 254900H70V4IL22BHL88 | Long             | LON              | CORP              | US        |    191925 | PA      | $191565.14    | 0.09%             | 2033-01-24      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Voya CLO Ltd                        | Voya CLO 2025-1 Ltd                                             | CUSIP: 92945LAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1007535.00   | 0.47%             | 2038-04-20      | Floating      | 8.27%                 | No            |                  2 | On Loan: No      |
| ADAPTHEALTH LLC                     | AdaptHealth LLC                                                 | CUSIP: 00653VAE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $971103.98    | 0.45%             | 2030-03-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| ENDO FINANCE HOLDINGS               | ENDO FINANCE HOLDINGS                                           | CUSIP: 29280UAD5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    962812 | PA      | $964532.08    | 0.45%             | 2031-04-23      | Floating      | 7.42%                 | No            |                  2 | On Loan: No      |
| HAMILTON PROJECTS ACQUIR            | HAMILTON PROJECTS ACQUIROR LLC                                  | CUSIP: 000000000<br>LEI: 5493005K6XILIQ2EZY52 | Long             | LON              | CORP              | US        |    531889 | PA      | $535047.19    | 0.25%             | 2031-05-30      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| PETSMART INC                        | PETSMART INC                                                    | CUSIP: 71677HAN5<br>LEI: 894500NGJMHSFNESGA67 | Long             | LON              | CORP              | US        |   1632000 | PA      | $1629960.00   | 0.76%             | 2032-08-18      | Floating      | 7.67%                 | No            |                  2 | On Loan: No      |
| LONG POINT RE IV LTD                | Long Point Re IV Ltd                                            | CUSIP: 54279PAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $251450.00    | 0.12%             | 2026-06-01      | Floating      | 7.81%                 | Yes           |                  2 | On Loan: No      |
| CAMELOT US ACQUISITION LLC          | CAMELOT US ACQUISITION LLC                                      | CUSIP: 000000000<br>LEI: 549300U6VBJHQP2SFL81 | Long             | LON              | CORP              | US        |    650000 | PA      | $616416.45    | 0.29%             | 2031-01-31      | Floating      | 6.92%                 | No            |                  2 | On Loan: No      |
| DS PARENT INC                       | DS PARENT INC                                                   | CUSIP: 23344YAG7<br>LEI: 254900EH8GRZUGRWRH57 | Long             | LON              | CORP              | US        |   1444995 | PA      | $1307720.48   | 0.61%             | 2031-01-31      | Floating      | 9.17%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-01

**Name of Applicant:** Victory Portfolios IV

**Signature:** Carol Trevino

**Name of Signer:** Carol Trevino

**Title:** Treasurer