# EDGAR Filing Document

**Accession Number:** 0002042316
**File Stem:** 0001752724-25-182424
**Filing Date:** 2025-7
**Character Count:** 51239
**Document Hash:** 2054b6289cd0519d4447098877696f21
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-182424.hdr.sgml**: 20250729

**ACCESSION NUMBER**: 0001752724-25-182424

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250530

**FILED AS OF DATE**: 20250729

**DATE AS OF CHANGE**: 20250729

**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:** 251161026

**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 Global Equity Fund (Series ID: S000089821)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000256624 | Class Y      | PGSYX           |
| C000256625 | Class A      | GLOSX           |
| C000256626 | Class C      | GCSLX           |
| C000256627 | Class R6     | PGEKX           |

## Nport-Ex

## Victory Pioneer Global Equity Fund
(Successor to Pioneer Global Sustainable Equity Fund)

Schedule of Investments \| May 31, 2025

------

### Schedule of Investments \| 5/31/25
(unaudited)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Shares** |  | **Value** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**UNAFFILIATED ISSUERS — 99.0%** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Common Stocks — 97.3% of Net Assets** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Aerospace & Defense — 3.8%** |  |
| 196881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hensoldt AG | $20608832 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Aerospace & Defense** | &nbsp;&nbsp; **$** **20608832** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Automobiles — 0.7%** |  |
| 213000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subaru Corp. | $3923354 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Automobiles** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **3923354** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Banks — 20.8%** |  |
| 687851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ABN AMRO Bank NV (C.V.A.) (144A) | $17791873 |
| 640776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bank of America Corp. | &nbsp;&nbsp; 28277445 |
| 1062895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bank of Ireland Group Plc | &nbsp;&nbsp; 14587826 |
| 79656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Citizens Financial Group, Inc. | &nbsp;&nbsp; 3214120 |
| 148759 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Danske Bank A/S | &nbsp;&nbsp; 5706978 |
| 128018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FinecoBank Banca Fineco S.p.A. | &nbsp;&nbsp; 2769070 |
| 209762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hana Financial Group, Inc. | &nbsp;&nbsp; 11056014 |
| 225451 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KB Financial Group, Inc. | &nbsp;&nbsp; 16968594 |
| 334267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Regions Financial Corp. | &nbsp;&nbsp; 7166684 |
| 117900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group, Inc. | &nbsp;&nbsp; 2992048 |
| 54115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UniCredit S.p.A. | &nbsp;&nbsp; 3481487 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Banks** | **$114012139** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Beverages — 3.4%** |  |
| 170961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Anheuser-Busch InBev S.A. (A.D.R.) | $12051041 |
| 408600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asahi Group Holdings, Ltd. | &nbsp;&nbsp; 5413439 |
| 33,338(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Celsius Holdings, Inc. | &nbsp;&nbsp; 1262844 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Beverages** | &nbsp;&nbsp; **$** **18727324** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Biotechnology — 0.7%** |  |
| 11889 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AbbVie, Inc. | $2212662 |
| 17,784(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BioNTech SE (A.D.R.) | &nbsp;&nbsp; 1703885 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Biotechnology** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **3916547** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Broadline Retail — 4.8%** |  |
| 209900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alibaba Group Holding, Ltd. | $3006722 |
| 73,246(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp; 15016163 |
| 114674 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;eBay, Inc. | &nbsp;&nbsp; 8390697 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Broadline Retail** | &nbsp;&nbsp; **$** **26413582** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Capital Markets — 2.0%** |  |
| 114978 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;State Street Corp. | $11070082 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Capital Markets** | &nbsp;&nbsp; **$** **11070082** |

---

1Victory Pioneer Global Equity Fund \| 5/31/25

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Shares** |  | **Value** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Communications Equipment — 2.5%** |  |
| 217336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cisco Systems, Inc. | $13700861 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Communications Equipment** | &nbsp;&nbsp; **$** **13700861** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Construction & Engineering — 0.7%** |  |
| 71200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taisei Corp. | $3966429 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Construction & Engineering** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **3966429** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Construction Materials — 3.8%** |  |
| 69642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Buzzi S.p.A. | $3581847 |
| 190612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CRH Plc | &nbsp;&nbsp; 17205253 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Construction Materials** | &nbsp;&nbsp; **$** **20787100** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Consumer Staples Distribution & Retail — 0.7%** |  |
| 35,515(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BJ's Wholesale Club Holdings, Inc. | $4020653 |
| 26,745+# | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Magnit PJSC | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Consumer Staples Distribution & Retail** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **4020653** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Electric Utilities — 5.2%** |  |
| 98734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Electric Power Co., Inc. | $10217982 |
| 279083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eversource Energy | &nbsp;&nbsp; 18087369 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Electric Utilities** | &nbsp;&nbsp; **$** **28305351** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Electrical Equipment — 3.2%** |  |
| 134200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fuji Electric Co., Ltd. | $5918065 |
| 333500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mitsubishi Electric Corp. | &nbsp;&nbsp; 6734906 |
| 15376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rockwell Automation, Inc. | &nbsp;&nbsp; 4851897 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Electrical Equipment** | &nbsp;&nbsp; **$** **17504868** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Financial Services — 3.3%** |  |
| 99949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Edenred SE | $3125810 |
| 878703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nexi S.p.A. (144A) | &nbsp;&nbsp; 5291795 |
| 125,466(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PayPal Holdings, Inc. | &nbsp;&nbsp; 8817750 |
| 135,705(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Worldline S.A. (144A) | &nbsp;&nbsp; 806486 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Financial Services** | &nbsp;&nbsp; **$** **18041841** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Ground Transportation — 2.5%** |  |
| 118,055(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Uber Technologies, Inc. | $9935509 |
| 17801 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Union Pacific Corp. | &nbsp;&nbsp; 3945769 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Ground Transportation** | &nbsp;&nbsp; **$** **13881278** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Health Care Equipment & Supplies — 0.6%** |  |
| 35561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings, Inc. | $3277657 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Health Care Equipment & Supplies** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **3277657** |

---

Victory Pioneer Global Equity Fund \| 5/31/252

------

(unaudited) (continued)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Shares** |  | **Value** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Health Care Providers & Services — 4.1%** |  |
| 114676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cardinal Health, Inc. | $17710561 |
| 15403 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cigna Group | &nbsp;&nbsp; 4877206 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Health Care Providers & Services** | &nbsp;&nbsp; **$** **22587767** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Household Durables — 3.1%** |  |
| 692073 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Persimmon Plc | $12433083 |
| 173100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sony Group Corp. | &nbsp;&nbsp; 4604537 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Household Durables** | &nbsp;&nbsp; **$** **17037620** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Insurance — 1.0%** |  |
| 18925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chubb, Ltd. | $5624510 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Insurance** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **5624510** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Interactive Media & Services — 3.1%** |  |
| 99025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | $17006554 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Interactive Media & Services** | &nbsp;&nbsp; **$** **17006554** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**IT Services — 2.4%** |  |
| 49656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;International Business Machines Corp. | $12863883 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total IT Services** | &nbsp;&nbsp; **$** **12863883** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Metals & Mining — 4.3%** |  |
| 424723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Barrick Mining Corp. | $8137693 |
| 161762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Newmont Corp. | &nbsp;&nbsp; 8528093 |
| 145980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Teck Resources, Ltd., Class B | &nbsp;&nbsp; 5408559 |
| 139700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;thyssenkrupp AG | &nbsp;&nbsp; 1365065 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Metals & Mining** | &nbsp;&nbsp; **$** **23439410** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Oil, Gas & Consumable Fuels — 5.4%** |  |
| 89869 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HF Sinclair Corp. | $3246967 |
| 160398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ovintiv, Inc. | &nbsp;&nbsp; 5745456 |
| 181163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Range Resources Corp. | &nbsp;&nbsp; 6891441 |
| 553,394+# | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rosneft Oil Co. PJSC | &nbsp;&nbsp;&nbsp;&nbsp; — |
| 207700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shell Plc (A.D.R.) | &nbsp;&nbsp; 13753894 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Oil, Gas & Consumable Fuels** | &nbsp;&nbsp; **$** **29637758** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Pharmaceuticals — 3.2%** |  |
| 31129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Johnson & Johnson | $4831532 |
| 56186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Novo Nordisk A/S (A.D.R.) | &nbsp;&nbsp; 4017299 |
| 355172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pfizer, Inc. | &nbsp;&nbsp; 8342990 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Pharmaceuticals** | &nbsp;&nbsp; **$** **17191821** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Semiconductors & Semiconductor Equipment — 5.4%** |  |
| 101,552(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Advanced Micro Devices, Inc. | $11244853 |
| 69,641(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Axcelis Technologies, Inc. | &nbsp;&nbsp; 3923574 |

---

3Victory Pioneer Global Equity Fund \| 5/31/25

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Shares** |  | **Value** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Semiconductors & Semiconductor Equipment —<br> (continued)** |  |
| 71200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corp. | $9621256 |
| 30677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;QUALCOMM, Inc. | &nbsp;&nbsp; 4454300 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Semiconductors & Semiconductor Equipment** | &nbsp;&nbsp; **$** **29243983** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Specialty Retail — 1.0%** |  |
| 74500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shimamura Co., Ltd. | $5180571 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Specialty Retail** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **5180571** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Technology Hardware, Storage & Peripherals — 4.8%** |  |
| 276200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FUJIFILM Holdings Corp. | $6262562 |
| 143,885(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pure Storage, Inc., Class A | &nbsp;&nbsp; 7710797 |
| 305099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Samsung Electronics Co., Ltd. | &nbsp;&nbsp; 12432682 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Technology Hardware, Storage & Peripherals** | &nbsp;&nbsp; **$** **26406041** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Trading Companies & Distributors — 0.8%** |  |
| 6185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Rentals, Inc. | $4381330 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Trading Companies & Distributors** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **4381330** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Common Stocks<br> (Cost $419,297,584)** | **$532759146** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHORT TERM INVESTMENTS — 1.7% of Net<br> Assets** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Open-End Fund — 1.7%** |  |
| 9,340,606(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dreyfus Government Cash Management,<br> Institutional Shares, 4.19% | $9340606 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; $9340606 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL SHORT TERM INVESTMENTS<br> (Cost $9,340,606)** | &nbsp;&nbsp;&nbsp;&nbsp; **$** **9340606** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL INVESTMENTS IN UNAFFILIATED ISSUERS — 99.0%<br> (Cost $428,638,190)** | **$542099752** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Number of<br> Contracts** | **Description** | **Counterparty** | **Amount** | **Strike<br> Price** | **Expiration<br> Date** |  |
|  | **Over The Counter (OTC) Call Option Written — (0.4)%** | **Over The Counter (OTC) Call Option Written — (0.4)%** | **Over The Counter (OTC) Call Option Written — (0.4)%** | **Over The Counter (OTC) Call Option Written — (0.4)%** | **Over The Counter (OTC) Call Option Written — (0.4)%** |  |
| (71200) | NVIDIA Corp. | Citibank NA | USD 1,345,502 | USD 120.51 | 4/17/26 | $(2285253) |
|  | **Total Over The Counter (OTC) Call Option Written<br> (Premiums received $1,345,502)** | **Total Over The Counter (OTC) Call Option Written<br> (Premiums received $1,345,502)** | **Total Over The Counter (OTC) Call Option Written<br> (Premiums received $1,345,502)** | **Total Over The Counter (OTC) Call Option Written<br> (Premiums received $1,345,502)** | **Total Over The Counter (OTC) Call Option Written<br> (Premiums received $1,345,502)** | &nbsp;&nbsp;**$(2285253)** |
|  | **OTHER ASSETS AND LIABILITIES — 1.4%** | **OTHER ASSETS AND LIABILITIES — 1.4%** | **OTHER ASSETS AND LIABILITIES — 1.4%** | **OTHER ASSETS AND LIABILITIES — 1.4%** | **OTHER ASSETS AND LIABILITIES — 1.4%** | &nbsp;&nbsp;&nbsp;$7464242 |
|  | **net assets — 100.0%** | **net assets — 100.0%** | **net assets — 100.0%** | **net assets — 100.0%** | **net assets — 100.0%** | **$547278741** |

---

Victory Pioneer Global Equity Fund \| 5/31/254

------

(unaudited) (continued)

---

| | |
|:---|:---|
| (A.D.R.) | &nbsp;&nbsp;American Depositary Receipts. |
| (C.V.A.) | &nbsp;&nbsp;Certificaaten van aandelen (Share Certificates). |
| (144A) | &nbsp;&nbsp;The resale of such security is exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold normally to qualified institutional buyers. At May 31, 2025, the value of these securities amounted to $23,890,154, or 4.4% of net assets. |

---

---

| | |
|:---|:---|
| (a) | &nbsp;&nbsp;Non-income producing security. |
| (b) | &nbsp;&nbsp;Rate periodically changes. Rate disclosed is the 7-day yield at May 31, 2025. |
| + | &nbsp;&nbsp;Security is valued using significant unobservable inputs (Level 3). |
| # | &nbsp;&nbsp;Securities are restricted as to resale. |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Restricted Securities** | **Acquisition date** | &nbsp;&nbsp;&nbsp;&nbsp;**Cost** | &nbsp;&nbsp;&nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;Magnit PJSC | 7/23/2020 | &nbsp;&nbsp;&nbsp;&nbsp;$1857587 | &nbsp;&nbsp;&nbsp;&nbsp;$— |
| &nbsp;&nbsp;Rosneft Oil Co. PJSC | 6/23/2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4456752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;**Total Restricted Securities** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;$— |
| &nbsp;&nbsp;**% of Net assets** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.0% |

---

#### FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency<br> Purchased** | **In<br> Exchange for** | **Currency<br> Sold** | **Deliver** | **Counterparty** | **Settlement<br> Date** | **Unrealized<br> (Depreciation)** |
| USD | 2829409 | CNY | 20550000 | Citibank NA | 7/28/25 | $(40141) |
| **TOTAL FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **TOTAL FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **TOTAL FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **TOTAL FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **TOTAL FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **TOTAL FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **$(40141)** |

---

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

CNY — China Yuan Renminbi <br> USD — United States Dollar

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

---

| |
|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Level 1 – unadjusted quoted prices in active markets for identical securities. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Level 3 – significant unobservable inputs (including the Adviser's own assumptions in determining fair value of investments). |

---

5Victory Pioneer Global Equity Fund \| 5/31/25

------

The following is a summary of the inputs used as of May 31, 2025 in valuing the Fund's investments:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1** | &nbsp;&nbsp;**Level 2** | &nbsp;&nbsp;**Level 3** | &nbsp;&nbsp;**Total** |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;$20608832 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$20608832 |
| &nbsp;&nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3923354 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3923354 |
| &nbsp;&nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;38658249 | &nbsp;&nbsp;&nbsp;&nbsp;75353890 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;114012139 |
| &nbsp;&nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;13313885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5413439 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;18727324 |
| &nbsp;&nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;23406860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3006722 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;26413582 |
| &nbsp;&nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3966429 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3966429 |
| &nbsp;&nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;20787100 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;20787100 |
| &nbsp;&nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4020653 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;—\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4020653 |
| &nbsp;&nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4851897 | &nbsp;&nbsp;&nbsp;&nbsp;12652971 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;17504868 |
| &nbsp;&nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8817750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9224091 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;18041841 |
| &nbsp;&nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;17037620 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;17037620 |
| &nbsp;&nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;22074345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1365065 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;23439410 |
| &nbsp;&nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;29637758 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;—\* | &nbsp;&nbsp;&nbsp;&nbsp;29637758 |
| &nbsp;&nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5180571 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5180571 |
| &nbsp;&nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7710797 | &nbsp;&nbsp;&nbsp;&nbsp;18695244 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;26406041 |
| &nbsp;&nbsp;&nbsp;All Other Common Stocks | &nbsp;&nbsp;&nbsp;183051624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;183051624 |
| Open-End Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9340606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9340606 |
| **Total Investments in Securities** | **$344884424** | &nbsp;&nbsp;**$197215328** | &nbsp;&nbsp;**$—\*** | &nbsp;&nbsp;**$542099752** |
| **Other Financial Instruments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Over The Counter (OTC) Call Option Written | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;$(2285253) | &nbsp;&nbsp;$— | &nbsp;&nbsp;$(2285253) |
| &nbsp;&nbsp;&nbsp;Net unrealized depreciation on forward foreign currency exchange contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(40141) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(40141) |
| **Total Other Financial Instruments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$—** | &nbsp;&nbsp;**$(2325394)** | &nbsp;&nbsp;**$—** | &nbsp;&nbsp;**$(2325394)** |

---

\* Securities valued at $0.

During the period ended May 31, 2025, there were no transfers in or out of Level 3.

Victory Pioneer Global Equity Fund \| 5/31/256

## 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 Global Equity Fund

- **b. EDGAR series identifier (if any):** S000089821

- **c. LEI of Series:** CC80LICL626JPNHCQ102

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

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

- **b. Date as of which information is reported:** 2025-05-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $550991228.90

**Total Liabilities:** $3912751.16

**Net Assets:** $547078477.74

**Cash Not Reported:** $8132554.81

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000256624 | -0.92%               | 0.67%                | 7.95%                |
| Class ID C000256625 | -0.93%               | 0.62%                | 7.90%                |
| Class ID C000256626 | -1.01%               | 0.59%                | 7.86%                |
| Class ID C000256627 | -0.93%               | 0.62%                | 7.99%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $3791587.60              | $-10119410.02                              |
| Month 2  | $4006836.50              | $-2500764.02                               |
| Month 3  | $8933475.56              | $31632767.68                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CITIBANK, NATIONAL ASSOCIATION     | NVIDIA CORP                          | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DE               | CORP              | US        |    -71200 | NC      | $-2340155.28  | -0.43%            |  |  |  | No            |                  2 | On Loan: No      |
| IBM                                | International Business Machines Corp | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |     49656 | NS      | $12863883.36  | 2.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Uber Technologies Inc              | Uber Technologies Inc                | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |    118055 | NS      | $9935508.80   | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Range Resources Corp               | Range Resources Corp                 | CUSIP: 75281A109<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | EC               | CORP              | US        |    181163 | NS      | $6891440.52   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| HF Sinclair Corp                   | HF Sinclair Corp                     | CUSIP: 403949100<br>LEI: 2549009G116AM01XHN24 | Long             | EC               | CORP              | US        |     30046 | NS      | $1085561.98   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Regions Financial Corp             | Regions Financial Corp               | CUSIP: 7591EP100<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EC               | CORP              | US        |    334267 | NS      | $7166684.48   | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Hensoldt AG                        | Hensoldt AG                          | CUSIP: 000000000<br>LEI: 894500686FYLLZD3M624 | Long             | EC               | CORP              | DE        |    196881 | NS      | $20608831.81  | 3.77%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of Ireland Group PLC          | Bank of Ireland Group PLC            | CUSIP: 000000000<br>LEI: 635400C8EK6DRI12LJ39 | Long             | EC               | CORP              | IE        |   1062895 | NS      | $14587826.38  | 2.67%             |  |  |  | No            |                  2 | On Loan: No      |
| CRH PLC                            | CRH PLC                              | CUSIP: 000000000<br>LEI: 549300MIDJNNTH068E74 | Long             | EC               | CORP              | US        |    190612 | NS      | $17205253.11  | 3.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Edenred SE                         | Edenred SE                           | CUSIP: 000000000<br>LEI: 9695006LOD5B2D7Y0N70 | Long             | EC               | CORP              | FR        |     99949 | NS      | $3125810.44   | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| KB Financial Group Inc             | KB Financial Group Inc               | CUSIP: 000000000<br>LEI: 529900TKE4MXG3Q6GW86 | Long             | EC               | CORP              | KR        |    225451 | NS      | $16968593.99  | 3.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Citibank, National Association     | USD/CNY FORWARD                      | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-40141.32    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Axcelis Technologies Inc           | Axcelis Technologies Inc             | CUSIP: 054540208<br>LEI: 529900HF9B6NL1QG9F05 | Long             | EC               | CORP              | US        |     69641 | NS      | $3923573.94   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Mitsui Financial Grou     | Sumitomo Mitsui Financial Group Inc  | CUSIP: 000000000<br>LEI: 35380028MYWPB6AUO129 | Long             | EC               | CORP              | JP        |    117900 | NS      | $2992047.59   | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| eBay Inc                           | eBay Inc                             | CUSIP: 278642103<br>LEI: OML71K8X303XQONU6T67 | Long             | EC               | CORP              | US        |    114674 | NS      | $8390696.58   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Novo Nordisk A/S                   | Novo Nordisk A/S                     | CUSIP: 670100205<br>LEI: 549300DAQ1CVT6CXN342 | Long             | EC               | CORP              | DK        |     56186 | NS      | $4017299.00   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Persimmon PLC                      | Persimmon PLC                        | CUSIP: 000000000<br>LEI: 213800XI72Y57UWN6F31 | Long             | EC               | CORP              | GB        |    703237 | NS      | $12633644.85  | 2.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Cigna Group/The                    | Cigna Group/The                      | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |     15403 | NS      | $4877205.92   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Alibaba Group Holding Ltd          | Alibaba Group Holding Ltd            | CUSIP: 000000000<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | CN        |    209900 | NS      | $3006722.46   | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Buzzi SpA                          | Buzzi SpA                            | CUSIP: 000000000<br>LEI: 5299003DX5YLKSVJ6K59 | Long             | EC               | CORP              | IT        |     69642 | NS      | $3581847.14   | 0.65%             |  |  |  | No            |                  2 | On Loan: No      |
| Sony Group Corp                    | Sony Group Corp                      | CUSIP: 000000000<br>LEI: 529900R5WX9N2OI2N910 | Long             | EC               | CORP              | JP        |    173100 | NS      | $4604536.72   | 0.84%             |  |  |  | No            |                  2 | On Loan: No      |
| UniCredit SpA                      | UniCredit SpA                        | CUSIP: 000000000<br>LEI: 549300TRUWO2CD2G5692 | Long             | EC               | CORP              | IT        |     54115 | NS      | $3481487.45   | 0.64%             |  |  |  | No            |                  2 | On Loan: No      |
| Cardinal Health Inc                | Cardinal Health Inc                  | CUSIP: 14149Y108<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | EC               | CORP              | US        |    114676 | NS      | $17710561.44  | 3.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Ovintiv Inc                        | Ovintiv Inc                          | CUSIP: 69047Q102<br>LEI: 2549003MEX7YMKLGI239 | Long             | EC               | CORP              | US        |    190267 | NS      | $6815363.94   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Celsius Holdings Inc               | Celsius Holdings Inc                 | CUSIP: 15118V207<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     33338 | NS      | $1262843.44   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Asahi Group Holdings Ltd           | Asahi Group Holdings Ltd             | CUSIP: 000000000<br>LEI: 353800KAJ02XNHLCJW79 | Long             | EC               | CORP              | JP        |    408600 | NS      | $5413439.16   | 0.99%             |  |  |  | No            |                  2 | On Loan: No      |
| Hana Financial Group Inc           | Hana Financial Group Inc             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |    209762 | NS      | $11056014.04  | 2.02%             |  |  |  | No            |                  2 | On Loan: No      |
| PayPal Holdings Inc                | PayPal Holdings Inc                  | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |    125466 | NS      | $8817750.48   | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| FUJIFILM Holdings Corp             | FUJIFILM Holdings Corp               | CUSIP: 000000000<br>LEI: 529900UBKMFM0ST6H474 | Long             | EC               | CORP              | JP        |    276200 | NS      | $6262562.17   | 1.14%             |  |  |  | No            |                  2 | On Loan: No      |
| thyssenkrupp AG                    | thyssenkrupp AG                      | CUSIP: 000000000<br>LEI: 549300UDG16DOYUPR330 | Long             | EC               | CORP              | DE        |    139700 | NS      | $1365065.21   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Anheuser-Busch InBev SA/NV         | Anheuser-Busch InBev SA/NV           | CUSIP: 03524A108<br>LEI: 5493008H3828EMEXB082 | Long             | EC               | CORP              | BE        |    170961 | NS      | $12051040.89  | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Subaru Corp                        | Subaru Corp                          | CUSIP: 000000000<br>LEI: 549300N244BVAEE6HH86 | Long             | EC               | CORP              | JP        |    213000 | NS      | $3923353.58   | 0.72%             |  |  |  | No            |                  2 | On Loan: No      |
| Amazon.com Inc                     | Amazon.com Inc                       | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     73246 | NS      | $15016162.46  | 2.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corp                       | Newmont Corp                         | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |    161762 | NS      | $8528092.64   | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Dreyfus Government Cash Management | Dreyfus Government Cash Management   | CUSIP: 262006208<br>LEI: 5493000Q69I5Q3QZIA91 | Long             | STIV             | RF                | US        |   4201610 | NS      | $4201610.17   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi Electric Corp           | Mitsubishi Electric Corp             | CUSIP: 000000000<br>LEI: 549300TRXM9Y6561AX39 | Long             | EC               | CORP              | JP        |    333500 | NS      | $6734906.19   | 1.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Taisei Corp                        | Taisei Corp                          | CUSIP: 000000000<br>LEI: 529900TF7XJKIOWMLQ79 | Long             | EC               | CORP              | JP        |     71200 | NS      | $3966428.78   | 0.73%             |  |  |  | No            |                  2 | On Loan: No      |
| Fuji Electric Co Ltd               | Fuji Electric Co Ltd                 | CUSIP: 000000000<br>LEI: 5299000HVNGZZTYYM906 | Long             | EC               | CORP              | JP        |    134200 | NS      | $5918064.73   | 1.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Pfizer Inc                         | Pfizer Inc                           | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |    355172 | NS      | $8342990.28   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Shimamura Co Ltd                   | Shimamura Co Ltd                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     74500 | NS      | $5180570.68   | 0.95%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Corp                  | State Street Corp                    | CUSIP: 857477103<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EC               | CORP              | US        |    114978 | NS      | $11070081.84  | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| BioNTech SE                        | BioNTech SE                          | CUSIP: 09075V102<br>LEI: 894500UZJ5LG1F8J1U58 | Long             | EC               | CORP              | DE        |     17784 | NS      | $1703885.04   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Pure Storage Inc                   | Pure Storage Inc                     | CUSIP: 74624M102<br>LEI: 549300NPDB0BZTK3WO90 | Long             | EC               | CORP              | US        |    143885 | NS      | $7710797.15   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Magnit PJSC                        | Magnit PJSC                          | CUSIP: 000000000<br>LEI: 2534009KKPTVL99W2Y12 | Long             | EC               | CORP              | RU        |     26745 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| BJ's Wholesale Club Holdings I     | BJ's Wholesale Club Holdings Inc     | CUSIP: 05550J101<br>LEI: 549300UCIWH1C93V0J03 | Long             | EC               | CORP              | US        |     35515 | NS      | $4020653.15   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems Inc                  | Cisco Systems Inc                    | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |    217336 | NS      | $13700861.44  | 2.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Chubb Ltd                          | Chubb Ltd                            | CUSIP: 000000000<br>LEI: E0JAN6VLUDI1HITHT809 | Long             | EC               | CORP              | CH        |     18925 | NS      | $5624510.00   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Barrick Mining Corp                | Barrick Mining Corp                  | CUSIP: 06849F108<br>LEI: 0O4KBQCJZX82UKGCBV73 | Long             | EC               | CORP              | CA        |    424723 | NS      | $8137692.68   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| United Rentals Inc                 | United Rentals Inc                   | CUSIP: 911363109<br>LEI: 5323X5O7RN0NKFCDRY08 | Long             | EC               | CORP              | US        |      6185 | NS      | $4381330.30   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Rockwell Automation Inc            | Rockwell Automation Inc              | CUSIP: 773903109<br>LEI: VH3R4HHBHH12O0EXZJ88 | Long             | EC               | CORP              | US        |     15376 | NS      | $4851896.80   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Citizens Financial Group Inc       | Citizens Financial Group Inc         | CUSIP: 174610105<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EC               | CORP              | US        |     79656 | NS      | $3214119.60   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Nexi SpA                           | Nexi SpA                             | CUSIP: 000000000<br>LEI: 5493000P70CQRQG8SN85 | Long             | EC               | CORP              | IT        |    878703 | NS      | $5291794.65   | 0.97%             |  |  |  | No            |                  2 | On Loan: No      |
| NVIDIA Corp                        | NVIDIA Corp                          | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     71200 | NS      | $9621256.00   | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Shell PLC                          | Shell PLC                            | CUSIP: 780259305<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |    224244 | NS      | $14849437.68  | 2.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Worldline SA/France                | Worldline SA/France                  | CUSIP: 000000000<br>LEI: 549300CJMQNCA0U4TS33 | Long             | EC               | CORP              | FR        |    135705 | NS      | $806485.93    | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Alphabet Inc                       | Alphabet Inc                         | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     99025 | NS      | $17006553.50  | 3.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                  | Johnson & Johnson                    | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     31129 | NS      | $4831532.09   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Zimmer Biomet Holdings Inc         | Zimmer Biomet Holdings Inc           | CUSIP: 98956P102<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | EC               | CORP              | US        |     35561 | NS      | $3277657.37   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co Ltd         | Samsung Electronics Co Ltd           | CUSIP: 000000000<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |    305099 | NS      | $12432681.73  | 2.27%             |  |  |  | No            |                  2 | On Loan: No      |
| AbbVie Inc                         | AbbVie Inc                           | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |     11889 | NS      | $2212661.79   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices Inc         | Advanced Micro Devices Inc           | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |    101552 | NS      | $11244852.96  | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Union Pacific Corp                 | Union Pacific Corp                   | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |     17801 | NS      | $3945769.66   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Rosneft Oil Co PJSC                | Rosneft Oil Co PJSC                  | CUSIP: 000000000<br>LEI: 253400JT3MQWNDKMJE44 | Long             | EC               | CORP              | RU        |    553394 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Danske Bank A/S                    | Danske Bank A/S                      | CUSIP: 000000000<br>LEI: MAES062Z21O4RZ2U7M96 | Long             | EC               | CORP              | DK        |    148759 | NS      | $5706977.50   | 1.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Teck Resources Ltd                 | Teck Resources Ltd                   | CUSIP: 878742204<br>LEI: T8KI5SQ2JRWHL7XY0E11 | Long             | EC               | CORP              | CA        |    145980 | NS      | $5408559.00   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| American Electric Power Co Inc     | American Electric Power Co Inc       | CUSIP: 025537101<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EC               | CORP              | US        |     98734 | NS      | $10217981.66  | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc                       | QUALCOMM Inc                         | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |     30677 | NS      | $4454300.40   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Eversource Energy                  | Eversource Energy                    | CUSIP: 30040W108<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | EC               | CORP              | US        |    279083 | NS      | $18087369.23  | 3.31%             |  |  |  | No            |                  1 | On Loan: No      |
| FinecoBank Banca Fineco SpA        | FinecoBank Banca Fineco SpA          | CUSIP: 000000000<br>LEI: 549300L7YCATGO57ZE10 | Long             | EC               | CORP              | IT        |    128018 | NS      | $2769069.83   | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America Corp               | Bank of America Corp                 | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |    640776 | NS      | $28277444.88  | 5.17%             |  |  |  | No            |                  1 | On Loan: No      |
| ABN AMRO Bank NV                   | ABN AMRO Bank NV                     | CUSIP: 000000000<br>LEI: BFXS5XCH7N0Y05NIXW11 | Long             | EC               | CORP              | NL        |    687851 | NS      | $17791873.21  | 3.25%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-29

**Name of Applicant:** Victory Portfolios IV

**Signature:** Carol Trevino

**Name of Signer:** Carol Trevino

**Title:** Treasurer