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        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Voya CLO Ltd</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ENDO FINANCE HOLDINGS</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DAVITA INC</name>
        <lei>M2XHYMU3TZNEZURC6H66</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FORTRESS INTERMEDIATE</name>
        <lei>254900NLAZ3JQJW5JP75</lei>
        <title>FORTRESS INTERMEDIATE</title>
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          <isin value="US34966LAB09"/>
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        <assetCat>LON</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>COMMONWEALTH RE LTD</name>
        <lei>N/A</lei>
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          <isin value="US203235AA47"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LONG POINT RE IV LTD</name>
        <lei>N/A</lei>
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          <isin value="US54279PAA30"/>
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        <invCountry>BM</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LB NEW HOLDCO</name>
        <lei>N/A</lei>
        <title>LB NEW HOLDCO</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JFL-TIGER ACQUISITION CO</name>
        <lei>254900KPFL42CYD2VY03</lei>
        <title>JFL-TIGER ACQUISITION CO</title>
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        <assetCat>LON</assetCat>
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        <fairValLevel>2</fairValLevel>
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        <name>U.S. Bank National Association</name>
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        <name>CCI BUYER INC</name>
        <lei>254900TMV7DAFRQALU04</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>DS PARENT INC</name>
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        <name>ARCHKEY HOLDINGS INC</name>
        <lei>254900FACU3AJQKAQ270</lei>
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        <name>DYNAMO US BIDCO INC</name>
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        <name>DELTA 2 LUX SARL</name>
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        <name>ORYX MIDSTREAM SERVICES</name>
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        <name>1261229 BC LTD</name>
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        <name>USI INC/NY</name>
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        <fairValLevel>2</fairValLevel>
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        <name>INTEGRITY RE LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Quikrete Holdings Inc</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>CHAMPIONS FINANCING INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ARSENAL AIC PARENT LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>INGENOVIS HEALTH INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>OPEN TEXT CORP</name>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>FLOODSMART RE LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>GRINDING MEDIA INC</name>
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        <name>CLEAR CHANNEL OUTDOOR HOLDINGS INC</name>
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        <name>VENTURE GLOBAL CALCASIEU</name>
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        <name>MICHAELS COS INC/THE</name>
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        <name>EVERI HOLDINGS INC</name>
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        <title>Everi Holdings Inc</title>
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        <fairValLevel>2</fairValLevel>
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        <name>CORNERSTONE BUILDING</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>RING CONTAINER TECHNOLOG</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>ANKURA CONSULTING GROUP</name>
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        <isRestrictedSec>Y</isRestrictedSec>

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        <name>COVETRUS INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>VITALITY RE XIV LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>SCIENTIFIC GAMES HOLDIN</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CENTURY CASINOS INC</name>
        <lei>549300H2L4Y24HXY7M50</lei>
        <title>Century Casinos Inc</title>
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        <assetCat>LON</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GAINWELL ACQUISITION COR</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AI AQUA MERGER SUB INC</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-31</maturityDt>
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      <invstOrSec>
        <name>LIGHTNING POWER LLC</name>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-08-18</maturityDt>
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      <invstOrSec>
        <name>ASURION LLC</name>
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        <title>Asurion LLC</title>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-22</maturityDt>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF 2020-KF83 Mortgage Trust</title>
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          <isin value="US302696AA72"/>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-07-25</maturityDt>
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        <name>HILCORP ENERGY I/HILCORP</name>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-05-15</maturityDt>
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        <name>Dryden Senior Loan Fund</name>
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        <title>Dryden 41 Senior Loan Fund</title>
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        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-04-15</maturityDt>
          <couponKind>Floating</couponKind>
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        <name>ALLTECH INC</name>
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        <title>ALLTECH INC</title>
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        <fairValLevel>2</fairValLevel>
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        <name>SOUND INPATIENT PHYSICIA</name>
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        <title>SOUND INPATIENT PHYSICIA</title>
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        <fairValLevel>2</fairValLevel>
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        <name>TRAVERSE MIDSTREAM PARTN</name>
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        <name>HARBOR FREIGHT TOOLS</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GREAT OUTDOORS GROUP LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>WATERBRIDGE MIDSTREAM OP</name>
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        <title>WATERBRIDGE MIDSTREAM OPERATING LLC</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>GARDA WORLD SECURITY</name>
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        <title>GARDA WORLD SECURITY</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-01</maturityDt>
          <couponKind>Floating</couponKind>
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        <name>PETCO HEALTH &amp; WELLNESS</name>
        <lei>2549007TYGV6RVSE9M61</lei>
        <title>Petco Health &amp; Wellness Co Inc</title>
        <cusip>71601HAB2</cusip>
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        <name>SANDERS RE II LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>WINDSOR HOLDINGS III LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MCGRAW-HILL EDUCATION</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ARCLINE FM HOLDINGS LLC</name>
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        <name>M6 ETX HOLDINGS II MIDCO</name>
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        <name>AADVANTAGE LOYALTY IP</name>
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        <name>INEOS US FINANCE LLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>TOPGOLF CALLAWAY BRANDS</name>
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        <title>TOPGOLF CALLAWAY BRANDS CORP</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Dotdash Meredith Inc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GENESYS CLOUD SERVICES</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ADIENT US LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GOAT HOLDCO LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>LIFE TIME INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GROUPE SOLMAX INC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>NOURYON FINANCE BV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>US ANESTHESIA PARTNERS</name>
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        <name>CITIZENS FINANCIAL GROUP</name>
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      <invstOrSec>
        <name>COHERENT CORP</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CHARLOTTE BUYER INC</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>VISION SOLUTIONS INC</name>
        <lei>N/A</lei>
        <title>Vision Solutions Inc</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-04-24</maturityDt>
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      <invstOrSec>
        <name>FLUTTER ENTERTAINMENT PL</name>
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          <isin value="XAN3313EAG51"/>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
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        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-11-29</maturityDt>
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      <invstOrSec>
        <name>LSF12 BADGER BIDCO LLC</name>
        <lei>254900AQINKZO1M1LS24</lei>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Dreyfus Government Cash Management</name>
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          <isin value="US2620062081"/>
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        <assetCat>STIV</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>AMNEAL PHARMACEUTICALS LLC</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Flame Co</name>
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        <fairValLevel>2</fairValLevel>
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        <name>US RADIOLOGY SPECIALISTS</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>FIRST STUDENT BIDCO INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>POTTERS BORROWER LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Grupo Aeromexico SAB de CV</name>
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        <name>Eastern Power LLC</name>
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        <name>OWENS &amp; MINOR INC</name>
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        <name>RVR DEALERSHIP HOLDINGS</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Clover CLO</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>CIFC Funding Ltd</name>
        <lei>N/A</lei>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-04-15</maturityDt>
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        <name>CENTRAL PARENT INC</name>
        <lei>N/A</lei>
        <title>CENTRAL PARENT INC</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>First Student Bidco Inc</name>
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        <assetCat>LON</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SANDERS RE III LTD</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <invCountry>BM</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>EDGEWATER GENERATION LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>AXALTA COATING SYSTEMS US H</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Veritiv Operating Co</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AEA INTERNATIONAL HOLDIN</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>REVERB BUYER INC</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>CIMPRESS PLC</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>CARRIAGE PURCHASER INC</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>CONSTELLATION RENEWABLES</name>
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        <title>CONSTELLATION RENEWABLES</title>
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        <fairValLevel>2</fairValLevel>
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        <name>CENGAGE LEARNING INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CHOBANI LLC</name>
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        <name>ONE CALL CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ALLIED UNIVERSAL</name>
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        <name>NOVAE LLC</name>
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        <title>Novae LLC</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>PLAYA RESORTS HOLDING B.V.</name>
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        <title>PLAYA RESORTS HOLDING BV</title>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PROOFPOINT INC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AHEAD DB HOLDINGS LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>B&amp;G FOODS INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>DELTA 2 LUX SARL</name>
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        <invCountry>LU</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>HANGER INC</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-10-23</maturityDt>
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      <invstOrSec>
        <name>PROJECT ALPHA INTERMEDIA</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>JEFFERIES FINANCE LLC</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>CIRQUE DU SOLEIL HOLDING</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MATIV HOLDINGS INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CAESARS ENTERTAIN INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>LC AHAB US BIDCO LLC</name>
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        <name>RUSSELL INVESTMENTS US</name>
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        <name>SOUTHERN VETERINARY PART</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>MJH HEALTHCARE HOLDINGS</name>
        <lei>254900YSRB2CUEJCMV73</lei>
        <title>MJH HEALTHCARE HOLDINGS</title>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>ALTICE FRANCE SA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>KILIMANJARO II RE LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>VISTRA OPERATIONS CO LLC</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>INEOS US PETROCHEM LLC</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-03-01</maturityDt>
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        <name>STONEPEAK NILE PARENT</name>
        <lei>254900TJV3VAFZD0GU41</lei>
        <title>STONEPEAK NILE PARENT</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-04-09</maturityDt>
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          <annualizedRt>0.00000000</annualizedRt>
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        <name>TIDAL WASTE &amp; RECYCLING</name>
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        <title>TIDAL WASTE &amp; RECYCLING</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-10-24</maturityDt>
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        <name>MERNA REINSURANCE II LTD</name>
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        <title>Merna Reinsurance II Ltd</title>
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        <invCountry>BM</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>LUCKY BUCKS LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>LHS BORROWER LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CQP HOLDCO LP/BIP-V CHIN</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ARCHKEY HOLDINGS INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ACURIS FIN US/ACURIS FIN</name>
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        <name>LOYALTY VENTURES INC</name>
        <lei>549300Q3YKVWNY6JIJ44</lei>
        <title>Loyalty Ventures Inc</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>REYNOLDS CONSUMER PRODUC</name>
        <lei>549300DWNZYMOSR1X343</lei>
        <title>REYNOLDS CONSUMER PRODUCTS LLC</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>ALLIED UNIVERSAL HOLDCO</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>INEOS US PETROCHEM LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Vestis Corp</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FORMULATIONS PARENT CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GRAY TELEVISION INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>KILIMANJARO II RE LTD</name>
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        <invCountry>BM</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>SERVICE LOGIC ACQUISITIO</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GTCR EVEREST BORROWER</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MERNA REINSURANCE II LTD</name>
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        <name>PETSMART INC</name>
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        <name>EFS COGEN HOLDINGS I LLC</name>
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        <name>UPSTREAM NEWCO INC</name>
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        <title>Upstream Newco Inc</title>
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        <name>SOUND INPATIENT PHYSICIANS Holdings</name>
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        <name>LAKESHORE INTERMEDIATE L</name>
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        <title>Lakeshore Intermediate LLC</title>
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        <name>LIVE NATION ENTERTAINMEN</name>
        <lei>5493007B9BM9ZXJINO78</lei>
        <title>Live Nation Entertainment Inc</title>
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        <name>FREMF Mortgage Trust</name>
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        <name>ONESKY FLIGHT LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BULLDOG PURCHASER INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>OPTION CARE HEALTH INC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CHARIOT BUYER LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>KODIAK BP LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>AGGREKO HOLDINGS INC</name>
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        <name>BONANZA RE LTD</name>
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        <name>HILCORP ENERGY I LP</name>
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        <name>CLYDESDALE ACQUISITION</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HOUGHTON MIFFLIN HARCOUR</name>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-09</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.62965000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Alturas Re 2022-2, 12/31/2027</name>
        <lei>N/A</lei>
        <title>Alturas Re 2022-2, 12/31/2027</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="XILS00393837"/>
        </identifiers>
        <balance>19715.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1046.87000000</valUSD>
        <pctVal>0.000381831209</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-31</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.01000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-06-26</ncom:dateSigned>
      <ncom:nameOfApplicant>Victory Portfolios IV</ncom:nameOfApplicant>
      <ncom:signature>Carol Trevino</ncom:signature>
      <ncom:signerName>Carol Trevino</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
