# EDGAR Filing Document

**Accession Number:** 0002042316
**File Stem:** 0000940400-25-005452
**Filing Date:** 2025-10
**Character Count:** 98023
**Document Hash:** ab413baf86d87b6b2cdeda96740fee3c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-005452.hdr.sgml**: 20251027

**ACCESSION NUMBER**: 0000940400-25-005452

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250829

**FILED AS OF DATE**: 20251027

**DATE AS OF CHANGE**: 20251027

**PERIOD START**: 20250831

**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:** 251419856

**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 High Income Municipal Fund (Series ID: S000089772)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000256545 | Class Y      | HIMYX           |
| C000256546 | Class A      | PIMAX           |
| C000256547 | Class C      | HICMX           |

## 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 High Income Municipal Fund

- **b. EDGAR series identifier (if any):** S000089772

- **c. LEI of Series:** DFRKKS65Q9UGO1PRYT83

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

- **a. Date of fiscal year-end:** 2025-08-31

- **b. Date as of which information is reported:** 2025-08-29

**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:** $950313189.76

**Total Liabilities:** $15790465.00

**Net Assets:** $934522724.76

**Delayed Delivery Securities:** $6458790.00

**Cash Not Reported:** $7799209.79

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -188.00000000 | **1-Year:** 0.00000000 | **5-Year:** -6487.00000000 | **10-Year:** -14450.00000000 | **30-Year:** -145658.00000000

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

- **3-Month:** -209.00000000 | **1-Year:** -213.00000000 | **5-Year:** -30080.00000000 | **10-Year:** -55576.00000000 | **30-Year:** -513095.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000256545 | 0.10%                | -1.75%               | -0.23%               |
| Class ID C000256546 | 0.09%                | -1.75%               | -0.24%               |
| Class ID C000256547 | 0.03%                | -1.81%               | -0.31%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-3879830.89             | $153257.55                                 |
| Month 2  | $-3971124.49             | $-17846436.03                              |
| Month 3  | $-4392035.23             | $-1200456.94                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BUFFALO & ERIE CNTY NY INDL LA                             | Buffalo & Erie County Industrial Land Development Corp              | CUSIP: 11943KDF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    212974 | PA      | $3045.53      | 0.00%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PARTERRE MET DIST #5 CO                                    | Parterre Metropolitan District No 5                                 | CUSIP: 70211AAC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1976920.00   | 0.21%             | 2055-12-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| HOOVER AL INDL DEV BRD ENVNMNT                             | Hoover Industrial Development Board                                 | CUSIP: 439241AA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4525000 | PA      | $4542104.50   | 0.49%             | 2049-10-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI EDUCTNL FAC                             | Public Finance Authority                                            | CUSIP: 74443DAS0<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2038075.00   | 0.22%             | 2046-08-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| LARKRIDGE CO MET DIST #2                                   | Larkridge Metropolitan District No 2                                | CUSIP: 51724SAA4<br>LEI: 549300WGG345EZVXJV26 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3726560.00   | 0.40%             | 2048-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI TOLL REVENU                             | Public Finance Authority                                            | CUSIP: 74448UAA6<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1054970.00   | 0.11%             | 2060-06-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR                             | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue              | CUSIP: 74529JPW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $889740.00    | 0.10%             | 2053-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY HSG DEV CORP                              | New York City Housing Development Corp                              | CUSIP: 64966TGX6<br>LEI: 549300SQWVHKBRF8D702 | Long             | ABS-MBS          | MUN               | US        |   3625000 | PA      | $3722041.25   | 0.40%             | 2043-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PINERY CO COML MET DIST #2 SPL                             | Pinery Commercial Metropolitan District No 2                        | CUSIP: 72330FAA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1465000 | PA      | $1386226.95   | 0.15%             | 2054-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MOBILE CNTY AL INDL DEV AUTH S                             | Mobile County Industrial Development Authority                      | CUSIP: 60733UAB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8995000 | PA      | $7830777.15   | 0.84%             | 2054-12-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TX HGR EDU FIN CORP                              | Arlington Higher Education Finance Corp                             | CUSIP: 041806AQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    435000 | PA      | $436144.05    | 0.05%             | 2029-03-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH ED                             | California Municipal Finance Authority                              | CUSIP: 130497AX8<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1639824.00   | 0.18%             | 2054-06-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA ST MED CARE COM                             | North Carolina Medical Care Commission                              | CUSIP: 65821DWL1<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $3571300.00   | 0.38%             | 2049-11-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| NEW YORK CNTYS NY TOBACCO TRUS                             | New York Counties Tobacco Trust V                                   | CUSIP: 649441AD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  51600000 | PA      | $2850900.00   | 0.31%             | 2060-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI CHRT SCH RE                             | Public Finance Authority                                            | CUSIP: 744396FE7<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    280000 | PA      | $280999.60    | 0.03%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WESTCHESTER CNTY NY LOCAL DEV                              | Westchester County Local Development Corp                           | CUSIP: 95737TEV4<br>LEI: 549300KOSU8OC75V9238 | Long             | DBT              | MUN               | US        |   9000000 | PA      | $6935940.00   | 0.74%             | 2056-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST SCH FIN AUTH CHR                             | California School Finance Authority                                 | CUSIP: 13058TRX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $952930.00    | 0.10%             | 2063-05-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| SAINT PAUL MN HSG & REDEV AUTH                             | Housing & Redevelopment Authority of The City of St Paul Minnesota  | CUSIP: 852297CK4<br>LEI: 549300FQCUW4VH929113 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1860880.00   | 0.20%             | 2052-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ROCHESTER MN                                               | City of Rochester MN                                                | CUSIP: 77158CAB7<br>LEI: 549300006EX3INSHXA95 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1391820.00   | 0.15%             | 2038-09-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI EDUCTNL FAC                             | Public Finance Authority                                            | CUSIP: 74443DLE9<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $959380.00    | 0.10%             | 2064-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| 2000 HOLLY MET DIST CO                                     | 2000 Holly Metropolitan District                                    | CUSIP: 90214UAB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    577000 | PA      | $558680.25    | 0.06%             | 2050-12-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| BETHEL MN CHRT SCH LEASE REVEN                             | City of Bethel MN                                                   | CUSIP: 086759AX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1310000 | PA      | $1151149.40   | 0.12%             | 2057-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH                                         | Commonwealth of Puerto Rico                                         | CUSIP: 74514L3T2<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |  24792296 | PA      | $15619146.72  | 1.67%             | 2043-11-01      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| NEW YORK CNTYS NY TOBACCO TRUS                             | New York Counties Tobacco Trust VI                                  | CUSIP: 64945JAF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7665000 | PA      | $6496317.45   | 0.70%             | 2051-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TERRE HAUTE IN MF HSG REVENUE                              | City of Terre Haute IN                                              | CUSIP: 881080AB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4560000 | PA      | $4417272.00   | 0.47%             | 2038-01-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| GREATER TEXAS CULTURAL EDU FAC                             | Greater Texas Cultural Education Facilities Finance Corp            | CUSIP: 39237QBJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3335000 | PA      | $2034350.00   | 0.22%             | 2033-02-01      | Variable      | 9.00%                 | No            |                  2 | On Loan: No      |
| MOBILE CNTY AL INDL DEV AUTH S                             | Mobile County Industrial Development Authority                      | CUSIP: 60733UAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9005000 | PA      | $8177080.30   | 0.88%             | 2054-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI TOLL REVENU                             | Public Finance Authority                                            | CUSIP: 74448UAD0<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   6500000 | PA      | $6330090.00   | 0.68%             | 2065-12-31      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI CHRT SCH RE                             | Public Finance Authority                                            | CUSIP: 744396HY1<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    230000 | PA      | $239131.00    | 0.03%             | 2033-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R                             | Massachusetts Development Finance Agency                            | CUSIP: 57585BCW6<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   3260000 | PA      | $2848066.40   | 0.30%             | 2044-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| OLDE TOWNE CO MET DIST                                     | Olde Towne Metropolitan District                                    | CUSIP: 68042GAC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1812080.00   | 0.19%             | 2053-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R                             | Massachusetts Development Finance Agency                            | CUSIP: 57585BCX4<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2830000 | PA      | $2454345.80   | 0.26%             | 2060-12-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP                             | New York Transportation Development Corp                            | CUSIP: 650116JQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7500000 | PA      | $7708275.00   | 0.82%             | 2059-06-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CNTYS NY TOBACCO TRUS                             | New York Counties Tobacco Trust IV                                  | CUSIP: 62947YAL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1443645.00   | 0.15%             | 2041-06-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| AEROTROPOLIS REGL TRANPRTN AUT                             | Aerotropolis Regional Transportation Authority                      | CUSIP: 008051AE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6500000 | PA      | $6161350.00   | 0.66%             | 2054-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH                                         | Commonwealth of Puerto Rico                                         | CUSIP: 74514L4E4<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |  25000000 | PA      | $6375000.00   | 0.68%             | 2051-11-01      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST DEV FIN CORP                                    | Florida Development Finance Corp                                    | CUSIP: 340618DT1<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $8251500.00   | 0.88%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| STERLING RANCH CMNTY AUTH BRD                              | Sterling Ranch Community Authority Board                            | CUSIP: 85950TAA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $880470.00    | 0.09%             | 2043-12-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| MIAMI BEACH FL HLTH FACS AUTH                              | Miami Beach Health Facilities Authority                             | CUSIP: 593211FP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $2668760.00   | 0.29%             | 2051-11-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ROCHESTER MN                                               | City of Rochester MN                                                | CUSIP: 77158CAC5<br>LEI: 549300006EX3INSHXA95 | Long             | DBT              | MUN               | US        |   3145000 | PA      | $2671394.45   | 0.29%             | 2043-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ONONDAGA NY CIVIC DEV CORP                                 | Onondaga Civic Development Corp                                     | CUSIP: 682832KH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $802720.00    | 0.09%             | 2044-08-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AUTH FL EDUCTNL                              | Capital Trust Authority                                             | CUSIP: 14054WAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2140000 | PA      | $2046482.00   | 0.22%             | 2043-12-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CAPITAL PROJS FIN AUTH FL EDUC                             | Capital Projects Finance Authority/FL                               | CUSIP: 14043FAH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $279097.50    | 0.03%             | 2054-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| COLORADO EDUCTNL & CULTURAL AU                             | Colorado Educational & Cultural Facilities Authority                | CUSIP: 19645UTS3<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5065250.00   | 0.54%             | 2059-02-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BUCKEYE OH TOBACCO SETTLEMENT                              | Buckeye Tobacco Settlement Financing Authority                      | CUSIP: 118217DA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        | 226000000 | PA      | $20719680.00  | 2.22%             | 2057-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| LAKE CNTY FL EDUCTNL FACS REVE                             | County of Lake FL                                                   | CUSIP: 50825CAC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1525000 | PA      | $1260077.00   | 0.13%             | 2049-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI TOLL REVENU                             | Public Finance Authority                                            | CUSIP: 74448UAC2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2100740.00   | 0.22%             | 2065-12-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GREATER TEXAS CULTURAL EDU FAC                             | Greater Texas Cultural Education Facilities Finance Corp            | CUSIP: 39237QBH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  16755000 | PA      | $10220550.00  | 1.09%             | 2050-02-01      | Variable      | 9.00%                 | No            |                  2 | On Loan: No      |
| GDB DEBT RECOVERY AUTH OF CMWL                             | GDB Debt Recovery Authority of Puerto Rico                          | CUSIP: 36829QAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  14744143 | PA      | $14228098.00  | 1.52%             | 2040-08-20      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| DOMINION WTR & SANTN DIST CO R                             | Dominion Water & Sanitation District                                | CUSIP: 25755AAE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4950000 | PA      | $4894164.00   | 0.52%             | 2052-12-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| LAFAYETTE IN MF HSG REVENUE                                | City of Lafayette IN                                                | CUSIP: 506309AB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6000000 | PA      | $5804700.00   | 0.62%             | 2037-01-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| DIST OF COLUMBIA TOBACCO SETTL                             | District of Columbia Tobacco Settlement Financing Corp              | CUSIP: 254842BB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  25000000 | PA      | $5420000.00   | 0.58%             | 2046-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP V                             | Tobacco Settlement Financing Corp/VA                                | CUSIP: 88880NAU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $8316400.00   | 0.89%             | 2047-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST SCH FIN AUTH CHR                             | California School Finance Authority                                 | CUSIP: 13058TUL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1321140.00   | 0.14%             | 2059-06-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| PRAIRIE CENTER CO MET DIST #3                              | Prairie Center Metropolitan District No 3                           | CUSIP: 739476AG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2125000 | PA      | $2147652.50   | 0.23%             | 2046-12-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| STAMFORD CT HSG AUTH                                       | Stamford Housing Authority                                          | CUSIP: 852640AK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1476015.00   | 0.16%             | 2055-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| COLORADO EDUCTNL & CULTURAL AU                             | Colorado Educational & Cultural Facilities Authority                | CUSIP: 19645URG1<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2427375.00   | 0.26%             | 2054-04-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| DIST OF COLUMBIA REVENUE                                   | District of Columbia                                                | CUSIP: 25483VB37<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   1835000 | PA      | $1747470.50   | 0.19%             | 2052-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL                              | Philadelphia Authority for Industrial Development                   | CUSIP: 71781XFJ7<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3199525.00   | 0.34%             | 2048-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST ECON DEV AUTH DO                             | New Jersey Economic Development Authority                           | CUSIP: 64578TAB0<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4044880.00   | 0.43%             | 2045-01-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| NASSAU CNTY NY TOBACCO SETTLEM                             | Nassau County Tobacco Settlement Corp                               | CUSIP: 63166MCA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  19015000 | PA      | $16047519.10  | 1.72%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TX HGR EDU FIN CORP                              | Arlington Higher Education Finance Corp                             | CUSIP: 041806AN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7030000 | PA      | $6881807.60   | 0.74%             | 2044-03-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| KANSAS ST DEV FIN AUTH REVENUE                             | Kansas Development Finance Authority                                | CUSIP: 48542RCB8<br>LEI: 549300WTL7BL8KBDPR87 | Long             | DBT              | MUN               | US        |  15405000 | PA      | $10456759.95  | 1.12%             | 2053-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SUFFOLK REGL OFF-TRACK BETTING                             | Suffolk Regional Off-Track Betting Corp                             | CUSIP: 86480TAC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5100000 | PA      | $5095104.00   | 0.55%             | 2053-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP V                             | Tobacco Settlement Financing Corp/VA                                | CUSIP: 88880NAT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8865000 | PA      | $6471981.90   | 0.69%             | 2046-06-01      | Fixed         | 6.71%                 | No            |                  2 | On Loan: No      |
| LAFAYETTE IN MF HSG REVENUE                                | City of Lafayette IN                                                | CUSIP: 506309AA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $907191.00    | 0.10%             | 2033-01-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| ONONDAGA NY CIVIC DEV CORP                                 | Onondaga Civic Development Corp                                     | CUSIP: 682832KJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1169865.00   | 0.13%             | 2054-08-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| GUAM ECON DEV & COMMERCE AUTH                              | Guam Economic Development & Commerce Authority                      | CUSIP: 40064LAB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1013661.00   | 0.11%             | 2047-06-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH                                         | Commonwealth of Puerto Rico                                         | CUSIP: 74514L4G9<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |  17550354 | PA      | $9674632.75   | 1.04%             | 2051-11-01      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| STAMFORD CT HSG AUTH                                       | Stamford Housing Authority                                          | CUSIP: 852640AJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1004580.00   | 0.11%             | 2045-10-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| PHOENIX AZ INDL DEV AUTH MF HS                             | Industrial Development Authority of the City of Phoenix Arizona/The | CUSIP: 718903RP4<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |  12480000 | PA      | $9728534.40   | 1.04%             | 2036-10-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH REVENUE                               | Illinois Finance Authority                                          | CUSIP: 45204FEQ4<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    733578 | PA      | $58686.22     | 0.01%             | 2036-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST SCH FIN AUTH CHR                             | California School Finance Authority                                 | CUSIP: 13058TUM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $737766.00    | 0.08%             | 2064-06-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST DEV FIN CORP SENIOR                             | Florida Development Finance Corp                                    | CUSIP: 34061WAW4<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    300000 | PA      | $310239.00    | 0.03%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST STRATEGIC FUND LTD                             | Michigan Strategic Fund                                             | CUSIP: 594714AE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7075000 | PA      | $5941514.25   | 0.64%             | 2040-03-01      | Variable      | 7.75%                 | No            |                  2 | On Loan: No      |
| CAPITAL PROJS FIN AUTH FL EDUC                             | Capital Projects Finance Authority/FL                               | CUSIP: 14043FAJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    445000 | PA      | $453090.10    | 0.05%             | 2059-06-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| POINT PHASE 1 PUB INFRASTRUCTU                             | Point Phase 1 Public Infrastructure District No 1                   | CUSIP: 73058EAC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1007050.00   | 0.11%             | 2055-03-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| INDIANA ST HSG & CMNTY DEV AUT                             | Indiana Housing & Community Development Authority                   | CUSIP: 45506CAY3<br>LEI: 549300QRKDYVNHT1OE86 | Long             | DBT              | MUN               | US        |   8615000 | PA      | $7732479.40   | 0.83%             | 2039-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CNTYS NY TOBACCO TRUS                             | New York Counties Tobacco Trust IV                                  | CUSIP: 62947YAD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9700000 | PA      | $8536000.00   | 0.91%             | 2042-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LYNCHBURG VA ECON DEV AUTH HOS                             | Lynchburg Economic Development Authority                            | CUSIP: 55123TBR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5475000 | PA      | $3624942.75   | 0.39%             | 2051-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TX HGR EDU FIN CORP                              | Arlington Higher Education Finance Corp                             | CUSIP: 041806AM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $375753.75    | 0.04%             | 2034-03-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| DELAWARE ST ECON DEV AUTH CHRT                             | Delaware State Economic Development Authority                       | CUSIP: 246372BD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1380000 | PA      | $988618.20    | 0.11%             | 2057-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RIVERPARK MET DIST CO LIMITED                              | Riverpark Metropolitan District/Arapahoe County                     | CUSIP: 76883BAA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $715762.50    | 0.08%             | 2042-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GOLDEN ST TOBACCO SECURITIZATI                             | Golden State Tobacco Securitization Corp                            | CUSIP: 38122ND66<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  32000000 | PA      | $23128000.00  | 2.47%             | 2050-06-01      | Fixed         | 4.21%                 | No            |                  2 | On Loan: No      |
| VIRGIN ISLANDS PUBLIC FIN AUTH                             | Virgin Islands Public Finance Authority                             | CUSIP: 927677AA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2400000 | PA      | $2363448.00   | 0.25%             | 2053-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF TEXAS TX UNIV REVENUES                             | Board of Regents of the University of Texas System                  | CUSIP: 91514AJZ9<br>LEI: TEHUYFNKZR6XVWLGEU86 | Long             | DBT              | MUN               | US        |   3665000 | PA      | $3825636.95   | 0.41%             | 2050-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BETHEL MN CHRT SCH LEASE REVEN                             | City of Bethel MN                                                   | CUSIP: 086759AT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $798760.00    | 0.09%             | 2053-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL                              | Philadelphia Authority for Industrial Development                   | CUSIP: 71780CAC4<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   9435000 | PA      | $9042126.60   | 0.97%             | 2049-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WESTCHESTER CNTY NY LOCAL DEV                              | Westchester County Local Development Corp                           | CUSIP: 95737TER3<br>LEI: 549300KOSU8OC75V9238 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5014100.00   | 0.54%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DEEPHAVEN MN CHARTER SCH LEASE                             | City of Deephaven MN                                                | CUSIP: 24380HAS1<br>LEI: 5493005IOLNBTFT2MD86 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1461390.00   | 0.16%             | 2050-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL                              | Philadelphia Authority for Industrial Development                   | CUSIP: 71780CBV1<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1673910.00   | 0.18%             | 2043-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH                                         | Commonwealth of Puerto Rico                                         | CUSIP: 74514L3P0<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |  13204996 | PA      | $10835095.37  | 1.16%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AGY FL STUDENT H                             | Capital Trust Agency Inc                                            | CUSIP: 140536AD5<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |   6000000 | PA      | $5512200.00   | 0.59%             | 2058-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH RE                             | California Municipal Finance Authority                              | CUSIP: 13048VVF2<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   4530000 | PA      | $4120488.00   | 0.44%             | 2039-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING                              | Pennsylvania Economic Development Financing Authority               | CUSIP: 70868YAY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5500000 | PA      | $5574195.00   | 0.60%             | 2061-06-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GREEN VALLEY RANCH EAST MET DI                             | Green Valley Ranch East Metropolitan District No 6                  | CUSIP: 39356MAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5100000 | PA      | $5087913.00   | 0.54%             | 2050-12-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE                                 | Public Finance Authority                                            | CUSIP: 74442PTK1<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1582380.00   | 0.17%             | 2041-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MISHAWAKA IN MF HSG REVENUE                                | City of Mishawaka IN                                                | CUSIP: 604786AB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5890000 | PA      | $5506089.80   | 0.59%             | 2038-01-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| RIVERPARK MET DIST CO LIMITED                              | Riverpark Metropolitan District/Arapahoe County                     | CUSIP: 76883BAB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1385944.00   | 0.15%             | 2054-12-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| M-S-R CA ENERGY AUTH GAS REVEN                             | M-S-R Energy Authority                                              | CUSIP: 55374SAF7<br>LEI: 549300UEMSS1JTK5YB98 | Long             | DBT              | MUN               | US        |   3100000 | PA      | $3680537.00   | 0.39%             | 2039-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CNTY CA TOBACCO SEC                             | California County Tobacco Securitization Agency                     | CUSIP: 13016NAE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     30000 | PA      | $30119.40     | 0.00%             | 2043-06-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING                              | Pennsylvania Economic Development Financing Authority               | CUSIP: 708692CD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1972160.00   | 0.21%             | 2047-09-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ALLENTOWN PA NEIGHBORHOOD IMPT                             | Allentown Neighborhood Improvement Zone Development Authority       | CUSIP: 018444CH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1544025.00   | 0.17%             | 2042-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GRAPEVINE WASH LOCAL DIST UT                               | Grapevine Wash Local District                                       | CUSIP: 38860EAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3300000 | PA      | $2933733.00   | 0.31%             | 2055-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH RE                             | California Municipal Finance Authority                              | CUSIP: 13048VVE5<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   6115000 | PA      | $5574434.00   | 0.60%             | 2036-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| OTERO CNTY NM COPS                                         | County of Otero NM                                                  | CUSIP: 688824AK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11430000 | PA      | $11018520.00  | 1.18%             | 2028-04-01      | Variable      | 9.00%                 | No            |                  2 | On Loan: No      |
| MIDA CORMONT PUBLIC INFRASTRUC                             | Mida Cormont Public Infrastructure District                         | CUSIP: 59561JAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2365000 | PA      | $1887932.20   | 0.20%             | 2055-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MINERAL BUSINESS IMP DIST CO L                             | Mineral Business Improvement District                               | CUSIP: 60284AAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $959510.00    | 0.10%             | 2054-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MISHAWAKA IN MF HSG REVENUE                                | City of Mishawaka IN                                                | CUSIP: 604786AA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $483060.00    | 0.05%             | 2032-01-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| S WSTRN IL DEV AUTH SPL FAC RE                             | Southwestern Illinois Development Authority                         | CUSIP: 84552MBQ9<br>LEI: 549300B1KLLJ8NU5XK71 | Long             | DBT              | MUN               | US        |   1225000 | PA      | $1111111.75   | 0.12%             | 2053-06-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AUTH FL EDUCTNL                              | Capital Trust Authority                                             | CUSIP: 14054WBX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1850000 | PA      | $1696209.50   | 0.18%             | 2065-07-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST ECON DEV AUTH SC                             | New Jersey Economic Development Authority                           | CUSIP: 645912DY9<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2218425.00   | 0.24%             | 2047-07-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUN FIN AUTH STUDEN                             | California Municipal Finance Authority                              | CUSIP: 13051EAK6<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   2310000 | PA      | $2131737.30   | 0.23%             | 2060-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MATTESON IL TAX INCR REVENUE                               | Village of Matteson IL                                              | CUSIP: 577117AQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1220000 | PA      | $1244753.80   | 0.13%             | 2035-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| DAVID ELLIS ACADEMY WEST MI                                | David Ellis Academy-West                                            | CUSIP: 238560AA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8125000 | PA      | $7169743.75   | 0.77%             | 2045-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH                                         | Commonwealth of Puerto Rico                                         | CUSIP: 74514L4D6<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $3227000.00   | 0.35%             | 2051-11-01      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| PALM BEACH CNTY FL REVENUE                                 | County of Palm Beach FL                                             | CUSIP: 696547HX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2008960.00   | 0.21%             | 2065-10-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| INLAND EMPIRE CA TOBACCO SECUR                             | Inland Empire Tobacco Securitization Corp                           | CUSIP: 45734TAD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  20000000 | PA      | $9095800.00   | 0.97%             | 2036-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| WILLOW BEND MET DIST CO                                    | Willow Bend Metropolitan District                                   | CUSIP: 97111VAC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    755000 | PA      | $752961.50    | 0.08%             | 2049-12-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| MILTON DE SPL OBLIG                                        | Town of Milton DE                                                   | CUSIP: 601792AB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $961020.00    | 0.10%             | 2044-09-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| FLORIDA LOC GOVT FIN COMMISSIO                             | Florida Local Government Finance Commission                         | CUSIP: 34077UAJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5020950.00   | 0.54%             | 2064-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HLTH FACS AUTH REVENU                             | Idaho Health Facilities Authority                                   | CUSIP: 451295D22<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |   1370000 | PA      | $885869.40    | 0.09%             | 2051-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI CHRT SCH RE                             | Public Finance Authority                                            | CUSIP: 744396FF4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1710000 | PA      | $1532502.00   | 0.16%             | 2039-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KOKOMO IN MF HSG REVENUE                                   | City of Kokomo IN                                                   | CUSIP: 500364AB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7825000 | PA      | $7630627.00   | 0.82%             | 2037-01-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AUTH FL EDUCTNL                              | Capital Trust Authority                                             | CUSIP: 14054WBW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $466075.00    | 0.05%             | 2055-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HAMMOND IN ECON DEV REVENUE                                | City of Hammond IN                                                  | CUSIP: 408386BL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  24990000 | PA      | $24994998.00  | 2.67%             | 2029-02-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| SPRINGSHIRE RETIREMENT LLC - Promissory Note 9% 12/01/2022 | SPRINGSHIRE RETIREMENT LLC - Promissory Note 9% 12/01/2022          | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   9000000 | PA      | $2970000.00   | 0.32%             | 2025-12-31      | Fixed         | 9.00%                 | No            |                  3 | On Loan: No      |
| MIDA CORMONT PUBLIC INFRASTRUC                             | Mida Cormont Public Infrastructure District                         | CUSIP: 59561JAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    725000 | PA      | $732743.00    | 0.08%             | 2055-06-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ALLENTOWN PA NEIGHBORHOOD IMPT                             | Allentown Neighborhood Improvement Zone Development Authority       | CUSIP: 018444CF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3900000 | PA      | $3808779.00   | 0.41%             | 2042-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA PUB FACS AUTH REVENU                             | Louisiana Public Facilities Authority                               | CUSIP: 546399SY3<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   8000000 | PA      | $7702800.00   | 0.82%             | 2059-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| DELAWARE ST ECON DEV AUTH CHRT                             | Delaware State Economic Development Authority                       | CUSIP: 246372BC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $1685587.50   | 0.18%             | 2052-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL                              | Philadelphia Authority for Industrial Development                   | CUSIP: 71780CAF7<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   6045000 | PA      | $5480094.75   | 0.59%             | 2044-12-15      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI CHRT SCH RE                             | Public Finance Authority                                            | CUSIP: 744396HZ8<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    690000 | PA      | $699901.50    | 0.07%             | 2043-07-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA ST INDL DEV AUTH EDU R                             | Arizona Industrial Development Authority                            | CUSIP: 04052BPT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1040000 | PA      | $704007.20    | 0.08%             | 2056-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MILTON DE SPL OBLIG                                        | Town of Milton DE                                                   | CUSIP: 601792AA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1680507.50   | 0.18%             | 2053-09-01      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| S WSTRN IL DEV AUTH SPL FAC RE                             | Southwestern Illinois Development Authority                         | CUSIP: 84552MBP1<br>LEI: 549300B1KLLJ8NU5XK71 | Long             | DBT              | MUN               | US        |  11785000 | PA      | $10652461.50  | 1.14%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AUTH FL EDUCTNL                              | Capital Trust Authority                                             | CUSIP: 14054WAD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2100000 | PA      | $1954155.00   | 0.21%             | 2058-12-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST FIN AUTH REVENUE                               | Michigan Finance Authority                                          | CUSIP: 59447TXJ7<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $3405750.00   | 0.36%             | 2049-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CNTYS NY TOBACCO TRUS                             | New York Counties Tobacco Trust VI                                  | CUSIP: 64945JAE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7440000 | PA      | $6448694.40   | 0.69%             | 2045-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEMPE AZ INDL DEV AUTH REVENUE                             | Tempe Industrial Development Authority                              | CUSIP: 87972MAX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1110000 | PA      | $746574.90    | 0.08%             | 2047-10-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| CLIFTON TX HGR EDU FIN CORP ED                             | Clifton Higher Education Finance Corp                               | CUSIP: 187145UQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    575000 | PA      | $543990.25    | 0.06%             | 2044-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BRIDGEVILLE DE SPL OBLIG                                   | Town of Bridgeville DE                                              | CUSIP: 108588AP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1535000 | PA      | $1531484.85   | 0.16%             | 2053-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST DEV FIN CORP                                    | Florida Development Finance Corp                                    | CUSIP: 340618DK0<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $1852920.00   | 0.20%             | 2032-07-15      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| COLORADO EDUCTNL & CULTURAL AU                             | Colorado Educational & Cultural Facilities Authority                | CUSIP: 19645URH9<br>LEI: 549300BJRX2FHSSZP042 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $941800.00    | 0.10%             | 2059-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL                              | Philadelphia Authority for Industrial Development                   | CUSIP: 71781PBP4<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2168738.00   | 0.23%             | 2045-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TX HGR EDU FIN CORP                              | Arlington Higher Education Finance Corp                             | CUSIP: 041806XD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  16545000 | PA      | $15310246.65  | 1.64%             | 2049-03-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| BUCKEYE OH TOBACCO SETTLEMENT                              | Buckeye Tobacco Settlement Financing Authority                      | CUSIP: 118217CZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  26450000 | PA      | $21400959.50  | 2.29%             | 2055-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA INDL DEV AU                             | Montgomery County Industrial Development Authority/PA               | CUSIP: 613609N44<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1850000 | PA      | $1727863.00   | 0.18%             | 2054-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK CNTYS NY TOBACCO TRUS                             | New York Counties Tobacco Trust IV                                  | CUSIP: 62947YAE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $7762600.00   | 0.83%             | 2045-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KANSAS ST DEV FIN AUTH REVENUE                             | Kansas Development Finance Authority                                | CUSIP: 48542RBZ6<br>LEI: 549300WTL7BL8KBDPR87 | Long             | DBT              | MUN               | US        |    400000 | PA      | $368936.00    | 0.04%             | 2033-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI CHRT SCH RE                             | Public Finance Authority                                            | CUSIP: 744396JB9<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1175000 | PA      | $1179253.50   | 0.13%             | 2063-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| DIST OF COLUMBIA REVENUE                                   | District of Columbia                                                | CUSIP: 25483VA95<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1521990.00   | 0.16%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COBB CNTY GA DEV AUTH EDUCTNL                              | Development Authority of Cobb County/The                            | CUSIP: 190782AS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2009060.00   | 0.21%             | 2064-06-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| TULSA OK MUNI ARPT TRUST TRUST                             | Tulsa Municipal Airport Trust Trustees/OK                           | CUSIP: 899661EM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3300000 | PA      | $3668478.00   | 0.39%             | 2035-12-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH RE                             | California Municipal Finance Authority                              | CUSIP: 13048TG23<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1829420.00   | 0.20%             | 2046-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL                              | Philadelphia Authority for Industrial Development                   | CUSIP: 71781XFP3<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   4055000 | PA      | $3798764.55   | 0.41%             | 2048-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AUTH FL CHRTR SC                             | Capital Trust Authority                                             | CUSIP: 14054YAC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3300000 | PA      | $2763651.00   | 0.30%             | 2054-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TULSA OK MUNI ARPT TRUST TRUST                             | Tulsa Municipal Airport Trust Trustees/OK                           | CUSIP: 899661EN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3231990.00   | 0.35%             | 2040-12-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMISSI                             | Washington State Housing Finance Commission                         | CUSIP: 93978LJM9<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1914120.00   | 0.20%             | 2050-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP                             | New York Transportation Development Corp                            | CUSIP: 650116HW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11110000 | PA      | $10707373.60  | 1.15%             | 2060-12-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TARRANT CNTY TX CULTURAL EDU F                             | Tarrant County Cultural Education Facilities Finance Corp           | CUSIP: 87638RKM8<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |   5875019 | PA      | $4889073.08   | 0.52%             | 2054-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| LOUISIANA PUB FACS AUTH REVENU                             | Louisiana Public Facilities Authority                               | CUSIP: 546399UY0<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2882580.00   | 0.31%             | 2059-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GOLDEN ST TOBACCO SECURITIZATI                             | Golden State Tobacco Securitization Corp                            | CUSIP: 38122NB84<br>LEI: N/A                  | Long             | DBT              | MUN               | US        | 225000000 | PA      | $20787750.00  | 2.22%             | 2066-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BETHEL MN CHRT SCH LEASE REVEN                             | City of Bethel MN                                                   | CUSIP: 086759AS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4210000 | PA      | $3474976.10   | 0.37%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SECURITIZATION AUTH ST                             | Tobacco Securitization Authority of Southern California             | CUSIP: 888804AZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $2451300.00   | 0.26%             | 2046-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| COBB CNTY GA DEV AUTH EDUCTNL                              | Development Authority of Cobb County/The                            | CUSIP: 190782AR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1010130.00   | 0.11%             | 2055-06-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMISSI                             | Washington State Housing Finance Commission                         | CUSIP: 93978LJP2<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4873700.00   | 0.52%             | 2060-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI CHRT SCH RE                             | Public Finance Authority                                            | CUSIP: 744396JA1<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    640000 | PA      | $638329.60    | 0.07%             | 2053-07-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| DELAWARE CNTY PA INDL DEV AUTH                             | Delaware County Industrial Development Authority/PA                 | CUSIP: 246018GA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8465000 | PA      | $7874481.60   | 0.84%             | 2046-06-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH INDL DEV CO                             | Puerto Rico Industrial Development Co                               | CUSIP: 745211LM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5900000 | PA      | $5446526.00   | 0.58%             | 2054-01-01      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| NASSAU CNTY NY TOBACCO SETTLEM                             | Nassau County Tobacco Settlement Corp                               | CUSIP: 63166MCB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6245000 | PA      | $5031721.40   | 0.54%             | 2046-06-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL EDU FACS FIN                             | New Hope Cultural Education Facilities Finance Corp                 | CUSIP: 64542PGC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4500000 | PA      | $3858885.00   | 0.41%             | 2057-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL                              | Philadelphia Authority for Industrial Development                   | CUSIP: 71781PBL3<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   2940000 | PA      | $2821518.00   | 0.30%             | 2050-06-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| ARKANSAS ST DEV FIN AUTH INDL                              | Arkansas Development Finance Authority                              | CUSIP: 04108WCE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5218550.00   | 0.56%             | 2048-07-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST DEV FIN CORP SENIOR                             | Florida Development Finance Corp                                    | CUSIP: 34061WAX2<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    225000 | PA      | $227441.25    | 0.02%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST HSG & CMNTY DEV AUT                             | Indiana Housing & Community Development Authority                   | CUSIP: 45506CAQ0<br>LEI: 549300QRKDYVNHT1OE86 | Long             | DBT              | MUN               | US        |   8175000 | PA      | $8058833.25   | 0.86%             | 2037-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI EDUCTNL FAC                             | Public Finance Authority                                            | CUSIP: 74443DAT8<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |     75000 | PA      | $74364.00     | 0.01%             | 2026-08-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Detroit Retirement Systems Fun                             | City of Detroit MI                                                  | CUSIP: 251228AC6<br>LEI: 549300BQRJP7MKKHOY28 | Long             | ABS-O            | CORP              | US        |   8470392 | PA      | $7888052.55   | 0.84%             | 2034-06-15      | Floating      | 0.99%                 | No            |                  2 | On Loan: No      |
| GAINESVILLE & HALL CNTY GA HOS                             | Gainesville & Hall County Hospital Authority                        | CUSIP: 362762PT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3775000 | PA      | $2642500.00   | 0.28%             | 2047-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL                              | Philadelphia Authority for Industrial Development                   | CUSIP: 71780CAL4<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |    825000 | PA      | $807559.50    | 0.09%             | 2031-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST INFRASTRUCTURE &                             | California Infrastructure & Economic Development Bank               | CUSIP: 13034A6B1<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |  17000000 | PA      | $15640000.00  | 1.67%             | 2065-01-01      | Variable      | 9.50%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH REVENUE                               | Illinois Finance Authority                                          | CUSIP: 45204FEP6<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    456557 | PA      | $36524.52     | 0.00%             | 2052-11-15      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA ST MED CARE COM                             | North Carolina Medical Care Commission                              | CUSIP: 65820YTP1<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |   4180000 | PA      | $3915406.00   | 0.42%             | 2054-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PLAINFIELD IN MF HSG REVENUE                               | Town of Plainfield IN Multifamily Housing Revenue                   | CUSIP: 72629VAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10100000 | PA      | $9784173.00   | 1.05%             | 2038-09-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| KANSAS ST DEV FIN AUTH REVENUE                             | Kansas Development Finance Authority                                | CUSIP: 48542RCA0<br>LEI: 549300WTL7BL8KBDPR87 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2111075.00   | 0.23%             | 2038-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI CHRT SCH RE                             | Public Finance Authority                                            | CUSIP: 744396HD7<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1150000 | PA      | $788164.00    | 0.08%             | 2061-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ARKANSAS DEV FIN AUTH ENVIRONM                             | Arkansas Development Finance Authority                              | CUSIP: 04110FAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7000000 | PA      | $6779080.00   | 0.73%             | 2052-09-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR                             | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue              | CUSIP: 74529JQH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  36282000 | PA      | $8410167.60   | 0.90%             | 2051-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CLIFTON TX HGR EDU FIN CORP ED                             | Clifton Higher Education Finance Corp                               | CUSIP: 187145UR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $734744.00    | 0.08%             | 2054-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST DEV FIN CORP SENIOR                             | Florida Development Finance Corp                                    | CUSIP: 34061WAY0<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |  11075000 | PA      | $9681322.00   | 1.04%             | 2051-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR                             | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue              | CUSIP: 74529JQG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  40435000 | PA      | $12544150.05  | 1.34%             | 2046-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL                              | Philadelphia Authority for Industrial Development                   | CUSIP: 71781XFK4<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   4370000 | PA      | $4055054.10   | 0.43%             | 2053-06-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI EDU REVENUE                             | Public Finance Authority                                            | CUSIP: 74442EAN0<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1590000 | PA      | $1592210.10   | 0.17%             | 2044-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP                             | New York Transportation Development Corp                            | CUSIP: 650116HQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7345000 | PA      | $7080139.30   | 0.76%             | 2060-06-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| STAMFORD CT HSG AUTH                                       | Stamford Housing Authority                                          | CUSIP: 852640AL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1041315.00   | 0.11%             | 2060-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ANDERSON IN MF REVENUE                                     | City of Anderson IN                                                 | CUSIP: 033889AJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8175000 | PA      | $6527083.50   | 0.70%             | 2040-01-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA AUTH FOR INDL                              | Philadelphia Authority for Industrial Development                   | CUSIP: 71780CAM2<br>LEI: 549300DIY68KQZEW7M79 | Long             | DBT              | MUN               | US        |   8295000 | PA      | $6687346.05   | 0.72%             | 2050-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI CHRT SCH RE                             | Public Finance Authority                                            | CUSIP: 744396HT2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1565000 | PA      | $1538410.65   | 0.16%             | 2062-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST FIN AUTH LTD OBLIG                             | Michigan Finance Authority                                          | CUSIP: 594479EQ6<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   5720000 | PA      | $5875927.20   | 0.63%             | 2040-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AEROTROPOLIS REGL TRANPRTN AUT                             | Aerotropolis Regional Transportation Authority                      | CUSIP: 008051AC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $3936600.00   | 0.42%             | 2052-12-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST STRATEGIC FUND LTD                             | Michigan Strategic Fund                                             | CUSIP: 594714AG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3837200.00   | 0.41%             | 2041-11-01      | Variable      | 7.50%                 | No            |                  2 | On Loan: No      |
| DIST OF COLUMBIA REVENUE                                   | District of Columbia                                                | CUSIP: 25483VB29<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   1165000 | PA      | $1121230.95   | 0.12%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE                                 | Public Finance Authority                                            | CUSIP: 74442PF67<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5000150.00   | 0.54%             | 2049-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CENTRL FALLS RI DETENTION FAC                              | Central Falls Detention Facility Corp                               | CUSIP: 153457AX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2065000 | PA      | $826000.00    | 0.09%             | 2035-07-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| DELAWARE ST ECON DEV AUTH CHRT                             | Delaware State Economic Development Authority                       | CUSIP: 246372BJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4869600.00   | 0.52%             | 2065-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH REVENUE                                | Indiana Finance Authority                                           | CUSIP: 45506DF91<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2141075.00   | 0.23%             | 2047-07-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI CHRT SCH RE                             | Public Finance Authority                                            | CUSIP: 744396HS4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    900000 | PA      | $848259.00    | 0.09%             | 2052-06-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ROCHESTER MN                                               | City of Rochester MN                                                | CUSIP: 77158CAD3<br>LEI: 549300006EX3INSHXA95 | Long             | DBT              | MUN               | US        |   6080000 | PA      | $4672054.40   | 0.50%             | 2050-09-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI RETMNT FAC                              | Public Finance Authority                                            | CUSIP: 74444VAA8<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |  10640000 | PA      | $0.00         | 0.00%             | 2020-12-01      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| PUBLIC FIN AUTH WI EDUCTNL FAC                             | Public Finance Authority                                            | CUSIP: 74443DAR2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1866420.00   | 0.20%             | 2036-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BUFFALO & ERIE CNTY NY INDL LA                             | Buffalo & Erie County Industrial Land Development Corp              | CUSIP: 11943KDG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2356917 | PA      | $33703.92     | 0.00%             | 2038-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI REVENUE                                 | Public Finance Authority                                            | CUSIP: 74442PTP0<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    500000 | PA      | $503850.00    | 0.05%             | 2037-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KOKOMO IN MF HSG REVENUE                                   | City of Kokomo IN                                                   | CUSIP: 500364AA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    945000 | PA      | $953297.10    | 0.10%             | 2034-01-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| TEMPE AZ INDL DEV AUTH REVENUE                             | Tempe Industrial Development Authority                              | CUSIP: 87972MAY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $626960.00    | 0.07%             | 2052-10-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI TOLL REVENU                             | Public Finance Authority                                            | CUSIP: 74448UAB4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |  14000000 | PA      | $13668620.00  | 1.46%             | 2060-06-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR                             | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue              | CUSIP: 74529JPX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6500000 | PA      | $5943860.00   | 0.64%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLINT INTERNATIONAL ACADEMY MI                             | Flint International Academy                                         | CUSIP: 339526AN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3000300.00   | 0.32%             | 2037-10-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| VAIL HOME PARTNERS CORP CO HSG                             | Vail Home Partners Corp                                             | CUSIP: 91879VAC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  13150000 | PA      | $13005613.00  | 1.39%             | 2064-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI CHRT SCH RE                             | Public Finance Authority                                            | CUSIP: 744396HR6<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    335000 | PA      | $341298.00    | 0.04%             | 2037-06-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| TEXAS ST PRIV ACTIVITY BOND SU                             | Texas Private Activity Bond Surface Transportation Corp             | CUSIP: 882667AN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4665150.00   | 0.50%             | 2058-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FING CORP V                             | Tobacco Settlement Financing Corp/VA                                | CUSIP: 88880NAX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  14000000 | PA      | $3988180.00   | 0.43%             | 2047-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-27

**Name of Applicant:** Victory Portfolios IV

**Signature:** Carol Trevino

**Name of Signer:** Carol Trevino

**Title:** Treasurer