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      <invstOrSec>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>SUFFOLK REGL OFF-TRACK BETTING CORP N Y REV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BUCKEYE OHIO TOB SETTLEMENT FING AUTH</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALIFORNIA CNTY CALIF TOB SECURITIZATION AGY TOB SETTLEMENT REV</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>TENDER OPT BD TR RCPTS / CTFS VAR STS</name>
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          <isin value="US88034N4U57"/>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>BLACK BELT ENERGY GAS DIST ALA GAS PROJ REV</name>
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          <isin value="US09182TGM36"/>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NORTH CAROLINA MED CARE COMMN RETIREMENT FACS REV</name>
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          <isin value="US65820YTG16"/>
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        <valUSD>3627508.80000000</valUSD>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>DENVER COLO HEALTH &amp; HOSP AUTH HEALTHCARE REV</name>
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          <isin value="US24918EEP16"/>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <annualizedRt>6.00000000</annualizedRt>
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        <name>INDIANAPOLIS IND LOC PUB IMPT BD BK</name>
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        <title>INDIANAPOLIS LOCAL PUBLIC IMPROVEMENT BOND BANK</title>
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          <isin value="US45528VFS34"/>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>COLORADO HEALTH FACS AUTH REV</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>MIAMI-DADE CNTY FLA WTR &amp; SWR REV</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>PASSAIC CNTY N J IMPT AUTH CHARTER SCH REV</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>PUERTO RICO SALES TAX FING CORP SALES TAX REV</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>MONTGOMERY CNTY PA INDL DEV AUTH REV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GULF COAST INDL DEV AUTH TEX REV</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>LOWER COLO RIV AUTH TEX TRANSMISSION CONTRACT REV</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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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>GREATER TEX CULTURAL ED FACS FIN CORP TEX REV</name>
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          <isin value="US39237QBU85"/>
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        <fairValLevel>2</fairValLevel>
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        <name>INDIANA ST FIN AUTH REV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MEDFORD ORE HOSP FACS AUTH REV</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>CALIFORNIA HEALTH FACS FING AUTH REV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>INDIANA FIN AUTH STUDENT HSG REV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NEW YORK CNTYS TOB TR IV</name>
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        <name>EP ESSENTIAL HSG WF PCF TEX RESIDENTIAL DEV REV</name>
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      <invstOrSec>
        <name>DENVER COLO HEALTH &amp; HOSP AUTH HEALTHCARE REV</name>
        <lei>N/A</lei>
        <title>DENVER HEALTH HOSPITAL AUTHORITY</title>
        <cusip>24918EEN6</cusip>
        <identifiers>
          <isin value="US24918EEN67"/>
          <other otherDesc="Internal" value="24918EEN6"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1008440.00000000</valUSD>
        <pctVal>0.247234434903</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</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>MASSACHUSETTS ST DEV FIN AGY REV</name>
        <lei>N/A</lei>
        <title>MASSACHUSETTS ST DEV FIN AGY REVENUE</title>
        <cusip>57585BKB3</cusip>
        <identifiers>
          <isin value="US57585BKB35"/>
          <other otherDesc="Internal" value="57585BKB3"/>
        </identifiers>
        <balance>2500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2650200.00000000</valUSD>
        <pctVal>0.649736919779</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</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>BURKE CNTY GA DEV AUTH POLLUTN CTL REV</name>
        <lei>N/A</lei>
        <title>BURKE COUNTY DEVELOPMENT AUTHORITY</title>
        <cusip>121342PQ6</cusip>
        <identifiers>
          <isin value="US121342PQ61"/>
          <other otherDesc="Internal" value="121342PQ6"/>
        </identifiers>
        <balance>5710000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5710000.00000000</valUSD>
        <pctVal>1.399893521975</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.95000000</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>BURKE CNTY GA DEV AUTH POLLUTN CTL REV</name>
        <lei>N/A</lei>
        <title>BURKE COUNTY DEVELOPMENT AUTHORITY</title>
        <cusip>121342MW6</cusip>
        <identifiers>
          <isin value="US121342MW66"/>
          <other otherDesc="Internal" value="121342MW6"/>
        </identifiers>
        <balance>6270000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6270000.00000000</valUSD>
        <pctVal>1.537186056530</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.10000000</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>FLORIDA ST BRD GOVERNORS FLA INTL UNIV DORM REV</name>
        <lei>N/A</lei>
        <title>FLORIDA STATE BOARD OF GOVERNORS FLORIDA</title>
        <cusip>34114CDM4</cusip>
        <identifiers>
          <isin value="US34114CDM47"/>
          <other otherDesc="Internal" value="34114CDM4"/>
        </identifiers>
        <balance>3000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2370720.00000000</valUSD>
        <pctVal>0.581218138426</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</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>SALT LAKE CITY UTAH ARPT REV</name>
        <lei>N/A</lei>
        <title>CITY OF SALT LAKE CITY UT AIRPORT REVENUE</title>
        <cusip>795576NW3</cusip>
        <identifiers>
          <isin value="US795576NW30"/>
          <other otherDesc="Internal" value="795576NW3"/>
        </identifiers>
        <balance>3000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3252480.00000000</valUSD>
        <pctVal>0.797395040692</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</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 total returns reported under item B.5.a do not include any sales or redemption charges, as applicable." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-07-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Victory Portfolios IV</ncom:nameOfApplicant>
      <ncom:signature>Carol D. Trevino</ncom:signature>
      <ncom:signerName>Carol D. Trevino</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
