# EDGAR Filing Document

**Accession Number:** 0000908695
**File Stem:** 0001752724-25-177883
**Filing Date:** 2025-7
**Character Count:** 74681
**Document Hash:** 34196d786d7556c13b5b96284e4749bb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-177883.hdr.sgml**: 20250725

**ACCESSION NUMBER**: 0001752724-25-177883

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250725

**DATE AS OF CHANGE**: 20250725

**PERIOD START**: 20260228

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07852
- **FILM NUMBER:** 251149526

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

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

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

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

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

## Series and Classes Contracts Data

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

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

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** San Antonio

  - **State:** TX

  - **Foreign country:** US

  - **Zip / Postal Code:** 78256

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

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

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

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

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

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

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

- **b. Date as of which information is reported:** 2025-05-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $470484922.34

**Total Liabilities:** $1829014.53

**Net Assets:** $468655907.81

**Cash Not Reported:** $33846.61

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -538.57436299 | **1-Year:** -16532.96452796 | **5-Year:** -55671.62139269 | **10-Year:** -157246.23012016 | **30-Year:** -86844.32682454

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

- **3-Month:** -31.97089958 | **1-Year:** -1086.71845745 | **5-Year:** -1039.26728110 | **10-Year:** -897.41140732 | **30-Year:** -158.96207404

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000220631 | -1.94%               | -1.21%               | -0.52%               |
| Class ID C000034891 | -1.92%               | -1.19%               | -0.51%               |
| Class ID C000220632 | -1.91%               | -1.19%               | -0.50%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-411342.03              | $-10617314.65                              |
| Month 2  | $-22281.90               | $-7367468.99                               |
| Month 3  | $0.00                    | $-3716528.09                               |

### Schedule of Portfolio Investments

| Name                                                                       | Title                                              | Identifiers                  | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| LYNCHBURG VA ECONOMIC DEV AUTH EDL FACS REV                                | LYNCHBURG ECONOMIC DEVELOPMENT AUTHORITY           | CUSIP: 55123RAR7<br>LEI: N/A | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2697818.53   | 0.58%             | 2043-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COLLEGE BLDG AUTH VA EDL FACS REV 21ST CENTY COLLEGE & EQUIP PROG | VIRGINIA COLLEGE BUILDING AUTHORITY                | CUSIP: 92778VFM5<br>LEI: N/A | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4181463.01   | 0.89%             | 2032-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GUAM GOVT HOTEL OCCUPANCY TAX REV                                          | TERRITORY OF GUAM                                  | CUSIP: 40065KAR4<br>LEI: N/A | Long             | DBT              | MUN               | US        |    250000 | PA      | $259094.43    | 0.06%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COMWLTH UNIV REV                                                  | VIRGINIA COMMONWEALTH UNIVERSITY                   | CUSIP: 92778REX1<br>LEI: N/A | Long             | DBT              | MUN               | US        |    750000 | PA      | $739164.91    | 0.16%             | 2037-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CAMPBELL CNTY VA INDL DEV AUTH PUB FAC LEASE REV                           | CAMPBELL CNTY VA INDL DEV AUTH                     | CUSIP: 13432JAV1<br>LEI: N/A | Long             | DBT              | MUN               | US        |   4600000 | PA      | $4130602.91   | 0.88%             | 2044-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL REGION ARPT COMMN VA ARPT REV                                      | CAPITAL REGION AIRPORT COMMISSION                  | CUSIP: 140442FV1<br>LEI: N/A | Long             | DBT              | MUN               | US        |    700000 | PA      | $682483.34    | 0.15%             | 2036-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COLLEGE BLDG AUTH VA EDL FACS REV 21ST CENTY COLLEGE & EQUIP PROG | VIRGINIA COLLEGE BUILDING AUTHORITY                | CUSIP: 92778VFK9<br>LEI: N/A | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10462049.87  | 2.23%             | 2031-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASH D C ARPTS AUTH DULLES TOLL RD REV                        | METROPOLITAN WASHINGTON AIRPORTS AUTHORITY DULLES  | CUSIP: 592643AY6<br>LEI: N/A | Long             | DBT              | MUN               | US        |   5500000 | PA      | $4565739.36   | 0.97%             | 2030-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CHESAPEAKE VA TOLL RD REV                                                  | CITY OF CHESAPEAKE VA CHESAPEAKE EXPRESSWAY TOLL R | CUSIP: 16532RAS2<br>LEI: N/A | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3026518.25   | 0.65%             | 2040-07-15      | Floating      | 4.88%                 | No            |                  2 | On Loan: No      |
| MANASSAS PARK VA ECONOMIC DEV AUTH LEASE REV                               | MANASSAS PARK ECONOMIC DEVELOPMENT AUTHORITY       | CUSIP: 561812BN7<br>LEI: N/A | Long             | DBT              | MUN               | US        |   4500000 | PA      | $3692390.21   | 0.79%             | 2052-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COMWLTH TRANSN BRD INTST 81 CORRIDOR PROG REV                     | VIRGINIA COMMONWEALTH TRANSPORTATION BOARD I 81 RE | CUSIP: 92778CAV2<br>LEI: N/A | Long             | DBT              | MUN               | US        |   5195000 | PA      | $4636896.59   | 0.99%             | 2046-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY VA UNIV REVS                                                    | UNIVERSITY OF VIRGINIA                             | CUSIP: 915217WP4<br>LEI: N/A | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4062200.62   | 0.87%             | 2042-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GREATER RICHMOND CONVENTION CTR AUTH VA HOTEL TAX REV                      | GREATER RICHMOND CONVENTION CENTER AUTHORITY       | CUSIP: 392329CU0<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1501002.96   | 0.32%             | 2032-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROCKINGHAM CNTY VA ECONOMIC DEV AUTH RESIDENTIAL CARE FACS REV             | ROCKINGHAM CNTY VA ECON DEV AUTH RSDL CARE FACS RE | CUSIP: 773455AR1<br>LEI: N/A | Long             | DBT              | MUN               | US        |   4180000 | PA      | $4228834.81   | 0.90%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST HSG DEV AUTH                                                   | VIRGINIA HOUSING DEVELOPMENT AUTHORITY             | CUSIP: 92812WBV5<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1267996.79   | 0.27%             | 2032-12-01      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| SALEM VA ECONOMIC DEV AUTH EDL FACS REV                                    | SALEM ECONOMIC DEVELOPMENT AUTHORITY               | CUSIP: 794565AU5<br>LEI: N/A | Long             | DBT              | MUN               | US        |    250000 | PA      | $229096.41    | 0.05%             | 2038-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LYNCHBURG VA ECONOMIC DEV AUTH HOSP REV                                    | LYNCHBURG ECONOMIC DEVELOPMENT AUTHORITY           | CUSIP: 55123TBM3<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1320000 | PA      | $1252092.69   | 0.27%             | 2039-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COMWLTH UNIV REV                                                  | VIRGINIA COMMONWEALTH UNIVERSITY                   | CUSIP: 92778REZ6<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2475000 | PA      | $2181918.36   | 0.47%             | 2048-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST HSG DEV AUTH                                                   | VIRGINIA HOUSING DEVELOPMENT AUTHORITY             | CUSIP: 92812WWT7<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1143899.96   | 0.24%             | 2055-09-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| WISE CNTY VA INDL DEV AUTH SOLID WASTE & SEW DISP REV                      | WISE CNTY YA INDL DEV AUTH SOL WST SEWAGE DISP R   | CUSIP: 977228AE5<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2478452.49   | 0.53%             | 2040-10-01      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COLLEGE BLDG AUTH VA EDL FACS REV                                 | VIRGINIA COLLEGE BUILDING AUTHORITY                | CUSIP: 92778FKK8<br>LEI: N/A | Long             | DBT              | MUN               | US        |    300000 | PA      | $311134.64    | 0.07%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COLLEGE BLDG AUTH VA EDL FACS REV                                 | VIRGINIA COLLEGE BUILDING AUTHORITY                | CUSIP: 92778FJM6<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1175000 | PA      | $773040.67    | 0.16%             | 2051-01-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ROANOKE VA ECONOMIC DEV AUTH EDL FACS REV                                  | ROANOKE ECONOMIC DEVELOPMENT AUTHORITY             | CUSIP: 770080AR0<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1640000 | PA      | $1651734.95   | 0.35%             | 2036-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PRINCE WILLIAM CNTY VA INDL DEV AUTH RESIDENTIAL CARE FAC REV              | PRINCE WILLIAM CNTY CA INDL DEV AUTH RSDL          | CUSIP: 741756CC2<br>LEI: N/A | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3660878.60   | 0.78%             | 2046-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FING AUTH HEALTHCARE FACS REV                      | VIRGINIA SMALL BUSINESS FINANCING AUTHORITY        | CUSIP: 928105CP8<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2030462.19   | 0.43%             | 2055-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COLLEGE BLDG AUTH VA EDL FACS REV                                 | VIRGINIA COLLEGE BUILDING AUTHORITY                | CUSIP: 92778FKF9<br>LEI: N/A | Long             | DBT              | MUN               | US        |    250000 | PA      | $250000.00    | 0.05%             | 2025-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHESAPEAKE BAY BRDG & TUNL DIST VA REV                                     | CHESAPEAKE BAY BRIDGE TUNNEL DISTRICT              | CUSIP: 16514PAD1<br>LEI: N/A | Long             | DBT              | MUN               | US        |   5805000 | PA      | $5682622.09   | 1.21%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST RES AUTH INFRASTRUCTURE REV                                    | VIRGINIA RESOURCES AUTHORITY                       | CUSIP: 92818NJX7<br>LEI: N/A | Long             | DBT              | MUN               | US        |   6700000 | PA      | $6043445.80   | 1.29%             | 2049-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA BEACH VA DEV AUTH RESIDENTIAL CARE FAC REV                        | VIRGINIA BEACH DEVELOPMENT AUTHORITY               | CUSIP: 92774NAX8<br>LEI: N/A | Long             | DBT              | MUN               | US        |   4865000 | PA      | $4628430.69   | 0.99%             | 2044-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARQUIS CMNTY DEV AUTH VA REV                                              | MARQUIS COMMUNITY DEVELOPMENT AUTHORITY OF YORK CO | CUSIP: 57161CAF5<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1093000 | PA      | $408235.48    | 0.09%             | 2045-09-01      | Fixed         | 7.50%                 | Yes           |                  3 | On Loan: No      |
| GUAM GOVT BUSINESS PRIVILEGE TAX REV                                       | TERRITORY OF GUAM                                  | CUSIP: 40065NCJ4<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1974387.97   | 0.42%             | 2039-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROCKINGHAM CNTY VA ECONOMIC DEV AUTH RESIDENTIAL CARE FACS REV             | ROCKINGHAM CNTY VA ECON DEV AUTH                   | CUSIP: 773455AP5<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $970782.70    | 0.21%             | 2033-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ROANOKE VA ECONOMIC DEV AUTH HOSP REV                                      | ROANOKE ECONOMIC DEVELOPMENT AUTHORITY             | CUSIP: 770082BZ7<br>LEI: N/A | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5127749.63   | 1.09%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COMWLTH UNIV HEALTH SYS AUTH REV                                  | VIRGINIA COMMONWEALTH UNIVERSITY HEALTH SYSTEM AUT | CUSIP: 92778LDC1<br>LEI: N/A | Long             | DBT              | MUN               | US        |   5500000 | PA      | $5503719.06   | 1.17%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HENRICO CNTY VA ECONOMIC DEV AUTH RESIDENTIAL CARE FAC REV                 | HENRICO COUNTY ECONOMIC DEVELOPMENT AUTHORITY      | CUSIP: 42605QHN6<br>LEI: N/A | Long             | DBT              | MUN               | US        |   7380000 | PA      | $7396160.08   | 1.58%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON CNTY VA INDL DEV AUTH REV                                        | ARLINGTON COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY  | CUSIP: 04144REK1<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1775000 | PA      | $1785787.56   | 0.38%             | 2043-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COLLEGE BLDG AUTH VA EDL FACS REV                                 | VIRGINIA COLLEGE BUILDING AUTHORITY                | CUSIP: 92778FKQ5<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $814871.98    | 0.17%             | 2046-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COLLEGE BLDG AUTH VA EDL FACS REV                                 | VIRGINIA COLLEGE BUILDING AUTHORITY                | CUSIP: 92778FKH5<br>LEI: N/A | Long             | DBT              | MUN               | US        |    275000 | PA      | $281022.88    | 0.06%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PRINCE EDWARD CNTY VA INDL DEV AUTH EDL FACS REV                           | PRINCE EDWARD COUNTY INDUSTRIAL DEVELOPMENT AUTHOR | CUSIP: 741654AU1<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2055000 | PA      | $2052309.74   | 0.44%             | 2048-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FAIRFAX CNTY VA SWR REV                                                    | COUNTY OF FAIRFAX VA SEWER REVENUE                 | CUSIP: 303867MD4<br>LEI: N/A | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10275589.75  | 2.19%             | 2046-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORFOLK VA ECONOMIC DEV AUTH HOSP FACS REV                                 | NORFOLK ECONOMIC DEVELOPMENT AUTHORITY             | CUSIP: 65588TAS8<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1675679.20   | 0.36%             | 2048-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FING AUTH HEALTHCARE FACS REV                      | VIRGINIA ST SMALL BUSINESS FING AUTH HLTHCARE FACS | CUSIP: 928105BZ7<br>LEI: N/A | Long             | DBT              | MUN               | US        |  15830000 | PA      | $13339488.78  | 2.85%             | 2049-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HENRICO CNTY VA ECONOMIC DEV AUTH RESIDENTIAL CARE FAC REV                 | HENRICO CNTY VA ECON DEV AUTH RSDL CARE FAC REVENU | CUSIP: 42605QGX5<br>LEI: N/A | Long             | DBT              | MUN               | US        |    500000 | PA      | $475219.04    | 0.10%             | 2040-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY VA UNIV REVS                                                    | UNIVERSITY OF VIRGINIA                             | CUSIP: 915217WE9<br>LEI: N/A | Long             | DBT              | MUN               | US        |   3600000 | PA      | $3295486.72   | 0.70%             | 2045-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SALEM VA ECONOMIC DEV AUTH EDL FACS REV                                    | SALEM ECONOMIC DEVELOPMENT AUTHORITY               | CUSIP: 794565AW1<br>LEI: N/A | Long             | DBT              | MUN               | US        |    250000 | PA      | $221372.91    | 0.05%             | 2040-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FING AUTH REV                                      | VIRGINIA SMALL BUSINESS FINANCING AUTHORITY        | CUSIP: 928104NC8<br>LEI: N/A | Long             | DBT              | MUN               | US        |  16265000 | PA      | $13461102.97  | 2.87%             | 2051-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LEXINGTON VA INDL DEV AUTH RESIDENTIAL CARE FAC REV                        | LEXINGTON INDUSTRIAL DEVELOPMENT AUTHORITY         | CUSIP: 52976BBW5<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $932655.41    | 0.20%             | 2037-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LEWISTOWN COMM CTR CMNTY DEV AUTH VA REV                                   | LEWISTOWN COMMERCE CENTER COMMUNITY DEVELOPMENT AU | CUSIP: 528734AH9<br>LEI: N/A | Long             | DBT              | MUN               | US        |    656212 | PA      | $459348.69    | 0.10%             | 2044-03-01      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| GUAM GOVT BUSINESS PRIVILEGE TAX REV                                       | TERRITORY OF GUAM                                  | CUSIP: 40065NCP0<br>LEI: N/A | Long             | DBT              | MUN               | US        |    500000 | PA      | $526556.47    | 0.11%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tobacco Settlement Financing Corporation                                   | TOBACCO SETTLEMENT FINANCING CORP VA               | CUSIP: 88880NAU3<br>LEI: N/A | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4306077.19   | 0.92%             | 2047-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASH D C ARPTS AUTH DULLES TOLL RD REV                        | METROPOLITAN WASHINGTON AIRPORTS AUTHORITY DULLES  | CUSIP: 592643DJ6<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1264997.18   | 0.27%             | 2053-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LEWISTOWN COMM CTR CMNTY DEV AUTH VA REV                                   | LEWISTOWN COMMERCE CENTER COMMUNITY DEVELOPMENT AU | CUSIP: 528734AJ5<br>LEI: N/A | Long             | DBT              | MUN               | US        |    610000 | PA      | $491304.15    | 0.10%             | 2044-03-01      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASH D C ARPTS AUTH DULLES TOLL RD REV                        | WASHINGTON DC AIRPORTS AUTHORITY TOLL ROAD REV     | CUSIP: 592643CV0<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1502403.60   | 0.32%             | 2044-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LYNCHBURG VA ECONOMIC DEV AUTH HOSP REV                                    | LYNCHBURG ECONOMIC DEVELOPMENT AUTHORITY           | CUSIP: 55123TBS0<br>LEI: N/A | Long             | DBT              | MUN               | US        |  14420000 | PA      | $11549231.61  | 2.46%             | 2055-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GUAM PWR AUTH REV                                                          | GUAM POWER AUTHORITY                               | CUSIP: 400653KG5<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1522426.99   | 0.32%             | 2041-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JAMES CITY CNTY VA ECONOMIC DEV AUTH RESIDENTIAL CARE FAC REV              | JAMES CITY COUNTY ECONOMIC DEVELOPMENT AUTHORITY   | CUSIP: 47029WEF0<br>LEI: N/A | Long             | DBT              | MUN               | US        |    855000 | PA      | $904399.03    | 0.19%             | 2053-12-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST RES AUTH INFRASTRUCTURE REV                                    | VIRGINIA ST RESOURCES AUTH INFRASTRUCTURE REVENUE  | CUSIP: 92818NKZ0<br>LEI: N/A | Long             | DBT              | MUN               | US        |     15000 | PA      | $15014.98     | 0.00%             | 2032-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GUAM PWR AUTH REV                                                          | GUAM POWER AUTHORITY                               | CUSIP: 400653LE9<br>LEI: N/A | Long             | DBT              | MUN               | US        |    200000 | PA      | $202733.54    | 0.04%             | 2043-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASH D C ARPTS AUTH ARPT SYS REV                              | METROPOLITAN WASHINGTON AIRPORTS AUTHORITY AVIATIO | CUSIP: 592647MC2<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1160000 | PA      | $1177141.05   | 0.25%             | 2048-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CHESAPEAKE BAY BRDG & TUNL DIST VA REV                                     | CHESAPEAKE BAY BRIDGE TUNNEL DISTRICT              | CUSIP: 16514PAC3<br>LEI: N/A | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5023148.73   | 1.07%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COLLEGE BLDG AUTH VA EDL FACS REV                                 | VIRGINIA COLLEGE BUILDING AUTHORITY                | CUSIP: 92778FKG7<br>LEI: N/A | Long             | DBT              | MUN               | US        |    250000 | PA      | $252885.70    | 0.05%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALEM VA ECONOMIC DEV AUTH EDL FACS REV                                    | SALEM ECONOMIC DEVELOPMENT AUTHORITY               | CUSIP: 794565AV3<br>LEI: N/A | Long             | DBT              | MUN               | US        |    225000 | PA      | $202920.79    | 0.04%             | 2039-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASH D C ARPTS AUTH ARPT SYS REV                              | METROPOLITAN WASHINGTON AIRPORTS AUTHORITY AVIATIO | CUSIP: 592647ME8<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2175000 | PA      | $1990093.47   | 0.42%             | 2053-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| HENRICO CNTY VA ECONOMIC DEV AUTH RESIDENTIAL CARE FAC REV                 | HENRICO COUNTY ECONOMIC DEVELOPMENT AUTHORITY      | CUSIP: 42605QHM8<br>LEI: N/A | Long             | DBT              | MUN               | US        |    945000 | PA      | $949735.45    | 0.20%             | 2047-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHESAPEAKE BAY BRDG & TUNL DIST VA REV                                     | CHESAPEAKE BAY BRIDGE TUNNEL DISTRICT              | CUSIP: 16514PAE9<br>LEI: N/A | Long             | DBT              | MUN               | US        |   3435000 | PA      | $3316811.02   | 0.71%             | 2051-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COLLEGE BLDG AUTH VA EDL FACS REV                                 | VIRGINIA COLLEGE BUILDING AUTHORITY                | CUSIP: 92778FKM4<br>LEI: N/A | Long             | DBT              | MUN               | US        |    300000 | PA      | $313259.88    | 0.07%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JAMES CITY CNTY VA ECONOMIC DEV AUTH RESIDENTIAL CARE FAC REV              | JAMES CITY COUNTY ECONOMIC DEVELOPMENT AUTHORITY   | CUSIP: 47029WDR5<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $763734.51    | 0.16%             | 2047-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST HSG DEV AUTH                                                   | VIRGINIA HOUSING DEVELOPMENT AUTHORITY             | CUSIP: 92812WBW3<br>LEI: N/A | Long             | DBT              | MUN               | US        |    665000 | PA      | $549377.81    | 0.12%             | 2033-12-01      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| GUAM GOVT HOTEL OCCUPANCY TAX REV                                          | TERRITORY OF GUAM                                  | CUSIP: 40065KAQ6<br>LEI: N/A | Long             | DBT              | MUN               | US        |    200000 | PA      | $205399.43    | 0.04%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FRONT ROYAL & WARREN CNTY VA INDL DEV AUTH REV                             | FRONT ROYAL WARREN COUNTY INDUSTRIAL DEVELOPMENT   | CUSIP: 359023CY2<br>LEI: N/A | Long             | DBT              | MUN               | US        |   7000000 | PA      | $5895634.00   | 1.26%             | 2050-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RICHMOND VA PUB UTIL REV                                                   | CITY OF RICHMOND VA PUBLIC UTILITY REVENUE         | CUSIP: 765433KR7<br>LEI: N/A | Long             | DBT              | MUN               | US        |   6000000 | PA      | $5712973.94   | 1.22%             | 2040-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HAMPTON RDS TRANSN ACCOUNTABILITY COMMN VA HAMPTON RDS TRANSN FD REV       | HAMPTON ROADS TRANSPORTATION ACCOUNTABILITY COMMIS | CUSIP: 409328BR1<br>LEI: N/A | Long             | DBT              | MUN               | US        |   6000000 | PA      | $5110080.41   | 1.09%             | 2052-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LEWISTOWN COMM CTR CMNTY DEV AUTH VA REV                                   | LEWISTOWN COMMERCE CENTER COMMUNITY DEVELOPMENT AU | CUSIP: 528734AK2<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2598517 | PA      | $1091377.14   | 0.23%             | 2054-03-01      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| JAMES CITY CNTY VA ECONOMIC DEV AUTH RESIDENTIAL CARE FAC REV              | JAMES CITY COUNTY ECONOMIC DEVELOPMENT AUTHORITY   | CUSIP: 47029WED5<br>LEI: N/A | Long             | DBT              | MUN               | US        |   9905000 | PA      | $7609868.10   | 1.62%             | 2050-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON D C MET AREA TRAN AUTH DEDICATED REV                            | WASHINGTON METROPOLITAN AREA TRANSIT AUTHORITY     | CUSIP: 93878YAU3<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2234624.48   | 0.48%             | 2045-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PRINCE WILLIAM CNTY VA INDL DEV AUTH RESIDENTIAL CARE FAC REV              | PRINCE WILLIAM COUNTY INDUSTRIAL DEVELOPMENT AUTHO | CUSIP: 741756CB4<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $968598.79    | 0.21%             | 2037-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WESTERN VA REGL JAIL AUTH VA REGL JAIL FAC REV                             | WSTRN VA REGL JAIL AUTH REGL JAIL FACS REVENUE     | CUSIP: 95984REB2<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1540000 | PA      | $1569414.53   | 0.33%             | 2035-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA BEACH VA DEV AUTH RESIDENTIAL CARE FAC REV                        | VIRGINIA BEACH DEVELOPMENT AUTHORITY               | CUSIP: 92774NAW0<br>LEI: N/A | Long             | DBT              | MUN               | US        |   3250000 | PA      | $3143974.30   | 0.67%             | 2040-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST HSG DEV AUTH COMWLTH MTG                                       | VIRGINIA HOUSING DEVELOPMENT AUTHORITY             | CUSIP: 92812XFH0<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1207259.85   | 0.26%             | 2055-07-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COLLEGE BLDG AUTH VA EDL FACS REV                                 | VIRGINIA COLLEGE BUILDING AUTHORITY                | CUSIP: 92778FJL8<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $710043.34    | 0.15%             | 2046-01-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST HSG DEV AUTH                                                   | VIRGINIA ST HSG DEV AUTH                           | CUSIP: 92812WGC2<br>LEI: N/A | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5026586.15   | 1.07%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST HSG DEV AUTH                                                   | VIRGINIA HOUSING DEVELOPMENT AUTHORITY             | CUSIP: 92812VJP2<br>LEI: N/A | Long             | DBT              | MUN               | US        |   6555000 | PA      | $5457658.63   | 1.16%             | 2046-05-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| GUAM PWR AUTH REV                                                          | GUAM POWER AUTHORITY                               | CUSIP: 400653JL6<br>LEI: N/A | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4008907.78   | 0.86%             | 2040-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COLLEGE BLDG AUTH VA EDL FACS REV                                 | VIRGINIA COLLEGE BUILDING AUTHORITY                | CUSIP: 92778FAX1<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1285000 | PA      | $1133423.10   | 0.24%             | 2043-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FAIRFAX CNTY VA INDL DEV AUTH REV                                          | FAIRFAX COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY    | CUSIP: 303823MW5<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1297480.20   | 0.28%             | 2048-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GUAM PWR AUTH REV                                                          | GUAM POWER AUTHORITY                               | CUSIP: 400653LF6<br>LEI: N/A | Long             | DBT              | MUN               | US        |    225000 | PA      | $226928.89    | 0.05%             | 2044-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FAIRFAX CNTY VA SWR REV                                                    | COUNTY OF FAIRFAX VA SEWER REVENUE                 | CUSIP: 303867ME2<br>LEI: N/A | Long             | DBT              | MUN               | US        |  10000000 | PA      | $8832075.50   | 1.88%             | 2051-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RADFORD VA INDL DEV AUTH MULTIFAMILY HSG REV                               | RADFORD INDUSTRIAL DEVELOPMENT AUTHORITY           | CUSIP: 750218AQ2<br>LEI: N/A | Long             | DBT              | MUN               | US        |   3910000 | PA      | $3909607.72   | 0.83%             | 2029-09-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COLLEGE BLDG AUTH VA EDL FACS REV                                 | VIRGINIA COLLEGE BUILDING AUTHORITY                | CUSIP: 92778FKJ1<br>LEI: N/A | Long             | DBT              | MUN               | US        |    295000 | PA      | $303901.00    | 0.06%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST HSG DEV AUTH                                                   | VIRGINIA HOUSING DEVELOPMENT AUTHORITY             | CUSIP: 92812VP67<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1500000 | PA      | $993540.34    | 0.21%             | 2045-11-01      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| STAFFORD CNTY VA ECONOMIC DEV AUTH HOSP FACS REV                           | STAFFORD COUNTY ECONOMIC DEVELOPMENT AUTHORITY     | CUSIP: 852431BL8<br>LEI: N/A | Long             | DBT              | MUN               | US        |   5900000 | PA      | $5952047.23   | 1.27%             | 2036-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BRISTOL VA INDL DEV AUTH LEASE REV                                         | BRISTOL INDUSTRIAL DEVELOPMENT AUTHORITY           | CUSIP: 110363AN8<br>LEI: N/A | Long             | DBT              | MUN               | US        |   8030000 | PA      | $7844460.02   | 1.67%             | 2053-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHESAPEAKE VA HOSP AUTH HOSP FAC REV                                       | CHESAPEAKE VA HOSPITAL AUTHORITY HOSPITATLITY REV  | CUSIP: 16532VBQ6<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $930477.91    | 0.20%             | 2039-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HENRICO CNTY VA ECONOMIC DEV AUTH RESIDENTIAL CARE FAC REV                 | HENRICO COUNTY ECONOMIC DEVELOPMENT AUTHORITY      | CUSIP: 42605QEA7<br>LEI: N/A | Long             | DBT              | MUN               | US        |    140000 | PA      | $139997.60    | 0.03%             | 2026-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| LYNCHBURG VA ECONOMIC DEV AUTH HOSP REV                                    | LYNCHBURG ECONOMIC DEVELOPMENT AUTHORITY           | CUSIP: 55123TBP6<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1135000 | PA      | $1033657.83   | 0.22%             | 2041-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GUAM GOVT HOTEL OCCUPANCY TAX REV                                          | TERRITORY OF GUAM                                  | CUSIP: 40065KAT0<br>LEI: N/A | Long             | DBT              | MUN               | US        |    250000 | PA      | $262819.08    | 0.06%             | 2030-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST HSG DEV AUTH                                                   | VIRGINIA HOUSING DEVELOPMENT AUTHORITY             | CUSIP: 92812WLQ5<br>LEI: N/A | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3053189.62   | 0.65%             | 2058-10-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST HSG DEV AUTH                                                   | VIRGINIA HOUSING DEVELOPMENT AUTHORITY             | CUSIP: 92812WGT5<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1771949.63   | 0.38%             | 2052-11-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST HSG DEV AUTH COMWLTH MTG                                       | VIRGINIA HOUSING DEVELOPMENT AUTHORITY             | CUSIP: 92812XGM8<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $956269.00    | 0.20%             | 2055-07-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST HSG DEV AUTH                                                   | VIRGINIA HOUSING DEVELOPMENT AUTHORITY             | CUSIP: 92812WKW3<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1455299.84   | 0.31%             | 2053-08-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY VA UNIV REVS                                                    | UNIVERSITY OF VIRGINIA                             | CUSIP: 915217XB4<br>LEI: N/A | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10106172.94  | 2.16%             | 2049-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PETERSBURG VA                                                              | CITY OF PETERSBURG VA                              | CUSIP: 716298RX4<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1143640.33   | 0.24%             | 2053-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ARLINGTON CNTY VA INDL DEV AUTH HOSP FAC REV                               | ARLINGTON CNTY VA INDL DEV                         | CUSIP: 041438HD7<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1585000 | PA      | $1408369.22   | 0.30%             | 2045-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WESTERN VA REGL JAIL AUTH VA REGL JAIL FAC REV                             | WSTRN VA REGL JAIL AUTH REGL JAIL FACS REVENUE     | CUSIP: 95984REE6<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1017833.86   | 0.22%             | 2038-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA BEACH VA DEV AUTH RESIDENTIAL CARE FAC REV                        | VIRGINIA BEACH VA DEV AUTH RSDL CARE FAC REVENUE   | CUSIP: 92774NAY6<br>LEI: N/A | Long             | DBT              | MUN               | US        |   3755000 | PA      | $2838429.29   | 0.61%             | 2048-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MARQUIS CMNTY DEV AUTH VA REV                                              | MARQUIS COMMUNITY DEVELOPMENT AUTHORITY OF YORK CO | CUSIP: 57161CAD0<br>LEI: N/A | Long             | DBT              | MUN               | US        |   3532000 | PA      | $1319201.95   | 0.28%             | 2041-09-01      | Fixed         | 5.62%                 | No            |                  3 | On Loan: No      |
| AMHERST VA INDL DEV AUTH REV                                               | AMHERST INDUSTRIAL DEVELOPMENT AUTHORITY VA        | CUSIP: 031489BW6<br>LEI: N/A | Long             | DBT              | MUN               | US        |    580000 | PA      | $579811.85    | 0.12%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALEXANDRIA VA INDL DEV AUTH EDL FACS REV                                   | ALEXANDRIA INDUSTRIAL DEVELOPMENT AUTHORITY        | CUSIP: 015304FV5<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2400000 | PA      | $2137573.79   | 0.46%             | 2046-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FAIRFAX CNTY VA INDL DEV AUTH REV                                          | FAIRFAX COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY    | CUSIP: 303823KY3<br>LEI: N/A | Long             | DBT              | MUN               | US        |   6900000 | PA      | $6109062.65   | 1.30%             | 2044-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BK SPEARS/LIFERS TR VAR STS                                       | DEUTSCHE BANK SPEARS LIFERS TRUST                  | CUSIP: 25155W8H5<br>LEI: N/A | Long             | DBT              | MUN               | US        |   8100000 | PA      | $8100000.00   | 1.73%             | 2063-06-01      | Floating      | 3.30%                 | Yes           |                  2 | On Loan: No      |
| VIRGINIA COMMLTH TRANSN BRD FED TRANSN GRNT ANTIC REV                      | VIRGINIA COMMONWEALTH TRANSPORTATION BOARD         | CUSIP: 92778UCN8<br>LEI: N/A | Long             | DBT              | MUN               | US        |   9190000 | PA      | $9524417.78   | 2.03%             | 2032-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COMWLTH TRANSN BRD TRANSN REV                                     | VIRGINIA COMMONWEALTH TRANSPORTATION BOARD         | CUSIP: 927793C72<br>LEI: N/A | Long             | DBT              | MUN               | US        |  10000000 | PA      | $9205593.11   | 1.96%             | 2042-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST RES AUTH INFRASTRUCTURE REV                                    | VIRGINIA RESOURCES AUTHORITY                       | CUSIP: 92818NM88<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1040000 | PA      | $952250.87    | 0.20%             | 2047-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PETERSBURG VA                                                              | CITY OF PETERSBURG VA                              | CUSIP: 716298RW6<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $942575.45    | 0.20%             | 2048-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| HENRICO CNTY VA ECONOMIC DEV AUTH RESIDENTIAL CARE FAC REV                 | HENRICO COUNTY ECONOMIC DEVELOPMENT AUTHORITY      | CUSIP: 42605QHK2<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1028767.32   | 0.22%             | 2042-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HENRICO CNTY VA ECONOMIC DEV AUTH RESIDENTIAL CARE FAC REV                 | HENRICO COUNTY ECONOMIC DEVELOPMENT AUTHORITY      | CUSIP: 42605QGE7<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2547443.77   | 0.54%             | 2037-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LYNCHBURG VA ECONOMIC DEV AUTH HOSP REV                                    | LYNCHBURG ECONOMIC DEVELOPMENT AUTHORITY           | CUSIP: 55123TAU6<br>LEI: N/A | Long             | DBT              | MUN               | US        |    140000 | PA      | $140000.00    | 0.03%             | 2047-01-01      | Variable      | 3.05%                 | No            |                  2 | On Loan: No      |
| PRINCE EDWARD CNTY VA INDL DEV AUTH EDL FACS REV                           | PRINCE EDWARD COUNTY INDUSTRIAL DEVELOPMENT AUTHOR | CUSIP: 741654BR7<br>LEI: N/A | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3046087.88   | 0.65%             | 2057-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HENRICO CNTY VA ECONOMIC DEV AUTH RESIDENTIAL CARE FAC REV                 | HENRICO CNTY VA ECON DEV AUTH RSDL CARE FAC REVENU | CUSIP: 42605QGZ0<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1281338.08   | 0.27%             | 2050-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GUAM GOVT HOTEL OCCUPANCY TAX REV                                          | TERRITORY OF GUAM                                  | CUSIP: 40065KAU7<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2064778.60   | 0.44%             | 2035-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST HSG DEV AUTH                                                   | VIRGINIA HOUSING DEVELOPMENT AUTHORITY             | CUSIP: 92812VH66<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1640000 | PA      | $1069795.20   | 0.23%             | 2050-07-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| CAPITAL REGION ARPT COMMN VA ARPT REV                                      | CAPITAL REGION AIRPORT COMMISSION                  | CUSIP: 140442FW9<br>LEI: N/A | Long             | DBT              | MUN               | US        |    750000 | PA      | $713861.33    | 0.15%             | 2038-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WINCHESTER VA ECONOMIC DEV AUTH HOSP REV                                   | WINCHESTER ECONOMIC DEVELOPMENT AUTHORITY          | CUSIP: 973121BN5<br>LEI: N/A | Long             | DBT              | MUN               | US        |   3250000 | PA      | $3093966.43   | 0.66%             | 2044-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHARLES CITY CNTY VA ECONOMIC DEV AUTH SOLID WASTE DISP REV                | CHARLES CITY COUNTY ECONOMIC DEVELOPMENT AUTHORITY | CUSIP: 15976RAC2<br>LEI: N/A | Long             | DBT              | MUN               | US        |  10000000 | PA      | $9848538.97   | 2.10%             | 2029-02-01      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| FARMVILLE VA INDL DEV AUTH EDL FACS REV                                    | FARMVILLE INDUSTRIAL DEVELOPMENT AUTHORITY         | CUSIP: 311617BF0<br>LEI: N/A | Long             | DBT              | MUN               | US        |   5900000 | PA      | $6197374.01   | 1.32%             | 2053-07-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY VA ECONOMIC DEV AUTH REV                                   | MONTGOMERY COUNTY ECONOMIC DEVELOPMENT AUTHORITY   | CUSIP: 613741KH9<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1718930.13   | 0.37%             | 2038-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GUAM GOVT BUSINESS PRIVILEGE TAX REV                                       | TERRITORY OF GUAM                                  | CUSIP: 40065NCR6<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $878543.62    | 0.19%             | 2042-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FING AUTH REV                                      | VIRGINIA SMALL BUSINESS FINANCING AUTHORITY        | CUSIP: 928104NB0<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2800000 | PA      | $2462449.95   | 0.53%             | 2045-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COLLEGE BLDG AUTH VA EDL FACS REV                                 | VIRGINIA COLLEGE BUILDING AUTHORITY                | CUSIP: 92778FKN2<br>LEI: N/A | Long             | DBT              | MUN               | US        |    925000 | PA      | $849595.27    | 0.18%             | 2036-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MARQUIS CMNTY DEV AUTH VA REV                                              | MARQUIS COMMUNITY DEVELOPMENT AUTHORITY OF YORK CO | CUSIP: 57161CAE8<br>LEI: N/A | Long             | DBT              | MUN               | US        |   5389000 | PA      | $5389.00      | 0.00%             | 2041-09-01      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| RICHMOND VA PUB UTIL REV                                                   | RICHMOND VA PUBLIC UTILITY REVENUE                 | CUSIP: 765433LK1<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2220000 | PA      | $1973225.54   | 0.42%             | 2050-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| STAFFORD CNTY VA ECONOMIC DEV AUTH HOSP FACS REV                           | STAFFORD COUNTY ECONOMIC DEVELOPMENT AUTHORITY     | CUSIP: 852431BM6<br>LEI: N/A | Long             | DBT              | MUN               | US        |   6495000 | PA      | $6142319.50   | 1.31%             | 2037-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COMMLTH TRANSN BRD FED TRANSN GRNT ANTIC REV                      | VIRGINIA COMMONWEALTH TRANSPORTATION BOARD         | CUSIP: 92778UCM0<br>LEI: N/A | Long             | DBT              | MUN               | US        |   3350000 | PA      | $3473521.03   | 0.74%             | 2032-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHESAPEAKE VA HOSP AUTH HOSP FAC REV                                       | CHESAPEAKE VA HOSPITAL AUTHORITY HOSPITATLITY REV  | CUSIP: 16532VBR4<br>LEI: N/A | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3531321.41   | 0.75%             | 2043-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST RES AUTH INFRASTRUCTURE REV                                    | VIRGINIA RESOURCES AUTHORITY                       | CUSIP: 92818NM70<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1445000 | PA      | $1379002.31   | 0.29%             | 2043-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COLLEGE BLDG AUTH VA EDL FACS REV                                 | VIRGINIA COLLEGE BUILDING AUTHORITY                | CUSIP: 92778FAS2<br>LEI: N/A | Long             | DBT              | MUN               | US        |    545000 | PA      | $545204.57    | 0.12%             | 2035-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COLLEGE BLDG AUTH VA EDL FACS REV                                 | VIRGINIA COLLEGE BUILDING AUTHORITY                | CUSIP: 92778FKL6<br>LEI: N/A | Long             | DBT              | MUN               | US        |    325000 | PA      | $338400.75    | 0.07%             | 2030-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORFOLK VA ECONOMIC DEV AUTH HOSP FACS REV                                 | NORFOLK ECONOMIC DEVELOPMENT AUTHORITY             | CUSIP: 65588TAT6<br>LEI: N/A | Long             | DBT              | MUN               | US        |   6100000 | PA      | $5235066.99   | 1.12%             | 2048-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COMWLTH UNIV REV                                                  | VIRGINIA COMMONWEALTH UNIVERSITY                   | CUSIP: 92778REY9<br>LEI: N/A | Long             | DBT              | MUN               | US        |    350000 | PA      | $362712.47    | 0.08%             | 2038-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHESAPEAKE BAY BRDG & TUNL COMMN VA DIST REV                               | CHESAPEAKE BAY BRIDGE TUNNEL DISTRICT              | CUSIP: 165141CB6<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1755000 | PA      | $1758098.08   | 0.38%             | 2025-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FING AUTH REV                                      | VIRGINIA SMALL BUSINESS FINANCING AUTHORITY        | CUSIP: 928104QL5<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1947997.59   | 0.42%             | 2057-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LEXINGTON VA INDL DEV AUTH RESIDENTIAL CARE FAC REV                        | LEXINGTON INDUSTRIAL DEVELOPMENT AUTHORITY         | CUSIP: 52976BBV7<br>LEI: N/A | Long             | DBT              | MUN               | US        |    750000 | PA      | $744817.09    | 0.16%             | 2031-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NORFOLK VA ARPT AUTH REV                                                   | NORFOLK AIRPORT AUTHORITY VA                       | CUSIP: 655857EJ5<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2800000 | PA      | $2847577.70   | 0.61%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON D C MET AREA TRAN AUTH GROSS REV                                | WASHINGTON METROPOLITAN AREA TRANSIT AUTHORITY     | CUSIP: 938782FT1<br>LEI: N/A | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5034761.05   | 1.07%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PRINCE EDWARD CNTY VA INDL DEV AUTH EDL FACS REV                           | PRINCE EDWARD COUNTY INDUSTRIAL DEVELOPMENT AUTHOR | CUSIP: 741654AT4<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2021811.90   | 0.43%             | 2043-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FING AUTH RESIDENTIAL CARE FAC REV                 | VIRGINIA SMALL BUSINESS FINANCING AUTHORITY        | CUSIP: 928103AY6<br>LEI: N/A | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4530122.45   | 0.97%             | 2054-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SALEM VA ECONOMIC DEV AUTH EDL FACS REV                                    | SALEM VA ECON DEV AUTH EDUCTNL FACS REVENUE        | CUSIP: 794565AY7<br>LEI: N/A | Long             | DBT              | MUN               | US        |    910000 | PA      | $874606.21    | 0.19%             | 2049-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROANOKE VA ECONOMIC DEV AUTH EDL FACS REV                                  | ROANOKE ECONOMIC DEVELOPMENT AUTHORITY             | CUSIP: 770080AU3<br>LEI: N/A | Long             | DBT              | MUN               | US        |   4060000 | PA      | $3922171.19   | 0.84%             | 2043-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASH D C ARPTS AUTH ARPT SYS REV                              | METROPOLITAN WASHINGTON AIRPORTS AUTHORITY AVIATIO | CUSIP: 592647NF4<br>LEI: N/A | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4064067.69   | 0.87%             | 2049-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COMWLTH TRANSN BRD TRANSN REV                                     | VIRGINIA COMMONWEALTH TRANSPORTATION BOARD         | CUSIP: 927793E62<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2005775.60   | 0.43%             | 2036-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COLLEGE BLDG AUTH VA EDL FACS REV                                 | VIRGINIA COLLEGE BUILDING AUTHORITY                | CUSIP: 92778FAQ6<br>LEI: N/A | Long             | DBT              | MUN               | US        |    965000 | PA      | $969890.23    | 0.21%             | 2033-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASH D C ARPTS AUTH DULLES TOLL RD REV                        | METROPOLITAN WASHINGTON AIRPORTS AUTHORITY DULLES  | CUSIP: 592643DR8<br>LEI: N/A | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2599979.55   | 0.55%             | 2052-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ROANOKE VA ECONOMIC DEV AUTH HOSP REV                                      | ROANOKE ECONOMIC DEVELOPMENT AUTHORITY             | CUSIP: 770082CA1<br>LEI: N/A | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4281975.94   | 0.91%             | 2051-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASH D C ARPTS AUTH ARPT SYS REV                              | METROPOLITAN WASHINGTON AIRPORTS AUTHORITY AVIATIO | CUSIP: 592647MD0<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2019295.20   | 0.43%             | 2053-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST HSG DEV AUTH COMWLTH MTG                                       | VIRGINIA HOUSING DEVELOPMENT AUTHORITY             | CUSIP: 92812U6L7<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $949047.93    | 0.20%             | 2054-10-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| GUAM GOVT LTD OBLIG REV                                                    | TERRITORY OF GUAM                                  | CUSIP: 40065HDV9<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1251040.55   | 0.27%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST RES AUTH INFRASTRUCTURE REV                                    | VIRGINIA RESOURCES AUTHORITY                       | CUSIP: 92818PMV2<br>LEI: N/A | Long             | DBT              | MUN               | US        |    750000 | PA      | $756300.77    | 0.16%             | 2052-11-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| GUAM PORT AUTH PORT REV                                                    | GUAM PORT AUTH PORT                                | CUSIP: 400652AA1<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1455569.23   | 0.31%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HENRICO CNTY VA ECONOMIC DEV AUTH RESIDENTIAL CARE FAC REV                 | HENRICO CNTY VA ECON DEV AUTH RSDL CARE FAC REVENU | CUSIP: 42605QGY3<br>LEI: N/A | Long             | DBT              | MUN               | US        |    725000 | PA      | $649473.32    | 0.14%             | 2045-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SALEM VA ECONOMIC DEV AUTH EDL FACS REV                                    | SALEM ECONOMIC DEVELOPMENT AUTHORITY               | CUSIP: 794565BL4<br>LEI: N/A | Long             | DBT              | MUN               | US        |    250000 | PA      | $255478.99    | 0.05%             | 2055-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| LYNCHBURG VA ECONOMIC DEV AUTH HOSP REV                                    | LYNCHBURG ECONOMIC DEVELOPMENT AUTHORITY           | CUSIP: 55123TAS1<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2175848.12   | 0.46%             | 2047-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GUAM GOVT HOTEL OCCUPANCY TAX REV                                          | TERRITORY OF GUAM                                  | CUSIP: 40065KAS2<br>LEI: N/A | Long             | DBT              | MUN               | US        |    250000 | PA      | $261117.46    | 0.06%             | 2029-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHESAPEAKE VA TOLL RD REV                                                  | CITY OF CHESAPEAKE VA CHESAPEAKE EXPRESSWAY TOLL R | CUSIP: 16532RAR4<br>LEI: N/A | Long             | DBT              | MUN               | US        |   6520000 | PA      | $6761096.54   | 1.44%             | 2032-07-15      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| SALEM VA ECONOMIC DEV AUTH EDL FACS REV                                    | SALEM VA ECON DEV AUTH EDUCTNL FACS REVENUE        | CUSIP: 794565AX9<br>LEI: N/A | Long             | DBT              | MUN               | US        |    750000 | PA      | $627477.84    | 0.13%             | 2045-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FING AUTH RESIDENTIAL CARE FAC REV                 | VIRGINIA SMALL BUSINESS FINANCING AUTHORITY        | CUSIP: 928103AU4<br>LEI: N/A | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3164295.35   | 0.68%             | 2051-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FAIRFAX CNTY VA ECONOMIC DEV AUTH METRORAIL PKG SYS PROJ REV               | FAIRFAX COUNTY ECONOMIC DEVELOPMENT AUTHORITY      | CUSIP: 30384AAU4<br>LEI: N/A | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3989631.65   | 0.85%             | 2047-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AMHERST VA INDL DEV AUTH REV                                               | AMHERST INDUSTRIAL DEVELOPMENT AUTHORITY VA        | CUSIP: 031489BX4<br>LEI: N/A | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1933128.36   | 0.41%             | 2030-09-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| GUAM GOVT WTRWKS AUTH WTR & WASTEWTR SYS REV                               | GUAM GOVT WTRWKS AUTH WTR WSTWTR SYS REVENUE       | CUSIP: 40065FDF8<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $976432.04    | 0.21%             | 2050-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA COLLEGE BLDG AUTH VA EDL FACS REV                                 | VIRGINIA COLLEGE BUILDING AUTHORITY                | CUSIP: 92778FAT0<br>LEI: N/A | Long             | DBT              | MUN               | US        |    650000 | PA      | $645052.35    | 0.14%             | 2036-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA SMALL BUSINESS FING AUTH ENVIRONMENTAL FACS REV                   | VIRGINIA SMALL BUSINESS FINANCING AUTHORITY        | CUSIP: 92810RAC1<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1500500.22   | 0.32%             | 2052-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST HSG DEV AUTH                                                   | VIRGINIA HOUSING DEVELOPMENT AUTHORITY             | CUSIP: 92812WVQ4<br>LEI: N/A | Long             | DBT              | MUN               | US        |    800000 | PA      | $781772.03    | 0.17%             | 2054-12-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| LEXINGTON VA INDL DEV AUTH EDL FACS REV                                    | LEXINGTON INDUSTRIAL DEVELOPMENT AUTHORITY         | CUSIP: 52976TBG1<br>LEI: N/A | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001015.63   | 0.21%             | 2048-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-30

**Name of Applicant:** Victory Portfolios III

**Signature:** Carol Trevino

**Name of Signer:** Carol Trevino

**Title:** Treasurer