Anchor Risk Managed Equity Strategies Fund - Advisor Class (ATEAX)

Annual Shareholder Report - August 31, 2026

Fund Overview

This annual shareholder report contains important information about Anchor Risk Managed Equity Strategies Fund for the period of September 1, 2025 to August 31, 2026. You can find additional information about the Fund at https://anchor-capital.com/funds/. You can also request this information by contacting us at 1-800-290-8633.

What were the Fund’s costs for the last year?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Advisor Class	$203	2.00%

How did the Fund perform during the reporting period?

Market Conditions:

• Performance: For the twelve-month period ended August 31, 2026, the S&P 500 Index advanced amid resilient corporate earnings and continued enthusiasm surrounding artificial intelligence, despite intermittent volatility tied to monetary policy uncertainty, rising Treasury yields, a softening labor market, and geopolitical developments. The Fund used tactical hedging and active exposure management to navigate market dislocations and changing macroeconomic conditions. By adjusting portfolio exposures and risk levels as conditions evolved, the Fund sought to limit downside participation while maintaining selective exposure to equity-market advances.

• Volatility: The market experienced notable volatility throughout the period when geopolitical concerns and shifting rate expectations led to sharp intra-month movements. The S&P 500 Index had a higher daily standard deviation of 0.81%, compared to the Fund’s daily standard deviation of 0.74%, indicating more pronounced fluctuations in the broader market.

• Economic Indicators: Economic growth moderated amid persistent inflation and a stable labor market. The Federal Reserve lowered its target rate in September 2025 as job growth slowed, then held rates steady through August 2026 while monitoring inflation and economic activity. In August 2026, nonfarm payrolls increased by 162,000, unemployment remained at 4.1%, and inflation stayed above the Federal Reserve’s long-term target. Shifting policy expectations, economic data, and geopolitical developments contributed to periodic market volatility.

Investment Strategies and Techniques:

• Long-Short Equity Strategy: The Fund employed a long-short equity strategy that used futures to hedge portfolio risk and dynamically adjust market exposure. Exposure levels were increased or reduced in response to underlying market trends and changes in volatility, allowing the Fund to adapt as market conditions evolved.

• Risk Management: The Fund’s emphasis on disciplined risk management through diversification and strategic hedging helped preserve capital during periods of market turbulence. However, this prudent approach also tempered upside participation during swift market rebounds driven by headline-driven sentiment shifts.

Summary

Despite challenging market conditions, the Fund generated a positive return through strategic positioning and disciplined risk management. Although the S&P 500 Index delivered a higher absolute return, the Fund’s lower standard deviation reflected less volatility and a more stable return pattern during the period. This result underscores the Fund’s focus on balancing return opportunities with disciplined risk management amid heightened uncertainty.

How has the Fund performed since inception?

Total Return Based on $10,000 Investment

Table Summary
	Anchor Risk Managed Equity Strategies Fund	S&P 500^® Index
Apr-2020	$10,000	$10,000
Aug-2020	$11,915	$12,098
Aug-2021	$13,794	$15,869
Aug-2022	$13,460	$14,087
Aug-2023	$13,268	$16,333
Aug-2024	$14,414	$20,766
Aug-2025	$15,212	$24,063
Aug-2026	$15,675	$28,967

Average Annual Total Returns

Table Summary
	1 Year	5 Years	Since Inception (April 30, 2020)
Anchor Risk Managed Equity Strategies Fund	3.04%	2.59%	7.35%
S&P 500^® Index	20.38%	12.79%	18.27%

The Fund’s past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. For updated performance call 1-800-290-8633.

Fund Statistics

Net Assets$114,980,360
Number of Portfolio Holdings3
Advisory Fee (net of waivers)$2,289,797
Portfolio Turnover0%

Asset Weighting (% of total investments)

Table Summary
Value	Value
Exchange-Traded Funds	99.0%
Money Market Funds	1.0%

What did the Fund invest in?

Asset Weighting (% of total investments)

Table Summary
Value	Value
Money Market	1.0%
Equity	99.0%

Top 10 Holdings (% of net assets)

Table Summary
Holding Name	% of Net Assets
Invesco QQQ Trust Series 1	56.1%
State Street SPDR S&P 500 ETF Trust	38.1%
First American Government Obligations Fund Class X	0.9%

Material Fund Changes

No material changes occurred during the year ended August 31, 2026.

Anchor Risk Managed Equity Strategies Fund - Advisor Class (ATEAX)

Annual Shareholder Report - August 31, 2026

Additional information is available on the Fund's website (https://anchor-capital.com/funds/), including its:

Prospectus
Financial information
Holdings
Proxy voting information

TSR-AR 083126-ATEAX

Anchor Risk Managed Equity Strategies Fund - Institutional Class (ATESX)

Annual Shareholder Report - August 31, 2026

Fund Overview

What were the Fund’s costs for the last year?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Institutional Class	$228	2.25%

How did the Fund perform during the reporting period?

Market Conditions:

Investment Strategies and Techniques:

Summary

How has the Fund performed since inception?

Total Return Based on $10,000 Investment

Table Summary
	Anchor Risk Managed Equity Strategies Fund	S&P 500^® Index
Sep-2016	$10,000	$10,000
Aug-2017	$11,148	$11,540
Aug-2018	$12,969	$13,809
Aug-2019	$13,887	$14,212
Aug-2020	$16,982	$17,330
Aug-2021	$19,609	$22,731
Aug-2022	$19,068	$20,179
Aug-2023	$18,760	$23,396
Aug-2024	$20,330	$29,745
Aug-2025	$21,394	$34,468
Aug-2026	$21,996	$41,493

Average Annual Total Returns

Table Summary
	1 Year	5 Years	Since Inception (September 6, 2016)
Anchor Risk Managed Equity Strategies Fund	2.81%	2.32%	8.22%
S&P 500^® Index	20.38%	12.79%	15.32%

Fund Statistics

Net Assets$114,980,360
Number of Portfolio Holdings3
Advisory Fee (net of waivers)$2,289,797
Portfolio Turnover0%

Asset Weighting (% of total investments)

Table Summary
Value	Value
Exchange-Traded Funds	99.0%
Money Market Funds	1.0%

What did the Fund invest in?

Asset Weighting (% of total investments)

Table Summary
Value	Value
Money Market	1.0%
Equity	99.0%

Top 10 Holdings (% of net assets)

Table Summary
Holding Name	% of Net Assets
Invesco QQQ Trust Series 1	56.1%
State Street SPDR S&P 500 ETF Trust	38.1%
First American Government Obligations Fund Class X	0.9%

Material Fund Changes

No material changes occurred during the year ended August 31, 2026.

Anchor Risk Managed Equity Strategies Fund - Institutional Class (ATESX)

Annual Shareholder Report - August 31, 2026

Additional information is available on the Fund's website (https://anchor-capital.com/funds/), including its:

Prospectus
Financial information
Holdings
Proxy voting information

TSR-AR 083126-ATESX

Anchor Risk Managed Income Strategies Fund - Advisor Class (ATCAX)

Annual Shareholder Report - August 31, 2026

Fund Overview

This annual shareholder report contains important information about Anchor Risk Managed Income Strategies Fund for the period of September 1, 2025 to August 31, 2026. You can find additional information about the Fund at https://anchor-capital.com/funds/. You can also request this information by contacting us at 1-800-290-8633.

What were the Fund’s costs for the last year?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Advisor Class	$202	2.00%

How did the Fund perform during the reporting period?

Market Conditions:

• Performance: The Bloomberg U.S. Aggregate Bond Index experienced a total return of 1.89% over the reporting period. The Fund had a total return of 1.57%, trailing the benchmark.

• Volatility: The U.S. Bond market experienced notable fluctuations, with the Bloomberg U.S. Aggregate Bond Index posting a daily standard deviation of 0.23%. In comparison, the Fund maintained a slightly higher volatility at 0.48%, reflecting its more active approach. However, the Fund’s beta of 0.47 and low correlation of 0.24 to the benchmark indicate limited sensitivity to broader market movements, contributing to a differentiated risk-return profile.

Investment Strategies and Techniques:

• Dynamic Investment Exposure: The Fund’s exposure was actively managed through a diversified mix of ETFs and index-based derivatives. This dynamic allocation strategy focused on capturing income opportunities while managing volatility and downside risk. Tactical shifts were made in response to macroeconomic developments and market dislocations, allowing the Fund to remain agile and responsive.

• Risk Management: The Fund employed advanced risk management techniques, including diversification across asset classes and sectors, regular stress testing, and the use of index-based derivatives to hedge against market volatility. These strategies helped to protect capital and maintain stability during periods of market turbulence.

Summary

During the reporting period, the Bloomberg U.S. Aggregate Bond Index returned 1.89%, compared with 1.57% for the Fund. Fixed income markets were shaped by shifting interest-rate expectations, persistent inflation, and changing economic data. Against this backdrop, the Fund’s dynamic investment exposure and active allocation across ETFs and index-based derivatives supported positive performance while maintaining a differentiated approach to traditional bond-market exposure.

In an uncertain market environment, the Fund’s flexible allocation, diversification, and disciplined risk management may complement traditional fixed income holdings. The strategy remained focused on identifying income opportunities, responding to changing market conditions, and managing downside risk while seeking competitive long-term returns.

How has the Fund performed since inception?

Total Return Based on $10,000 Investment

Table Summary
	Anchor Risk Managed Income Strategies Fund	Bloomberg U.S. Aggregate Bond Index
Sep-2020	$10,000	$10,000
Aug-2021	$10,592	$9,975
Aug-2022	$9,781	$8,826
Aug-2023	$9,146	$8,721
Aug-2024	$9,887	$9,357
Aug-2025	$10,197	$9,651
Aug-2026	$10,357	$9,833

Average Annual Total Returns

Table Summary
	1 Year	5 Years	Since Inception (September 11, 2020)
Anchor Risk Managed Income Strategies Fund	1.57%	-0.45%	0.59%
Bloomberg U.S. Aggregate Bond Index	1.89%	-0.29%	-0.28%

Fund Statistics

Net Assets$15,512,025
Number of Portfolio Holdings12
Advisory Fee (net of waivers)$193,242
Portfolio Turnover29%

Asset Weighting (% of total investments)

Table Summary
Value	Value
Closed End Funds	28.8%
Exchange-Traded Funds	71.2%

What did the Fund invest in?

Asset Weighting (% of total investments)

Table Summary
Value	Value
Fixed Income	21.2%
Equity	78.8%

Top 10 Holdings (% of net assets)

Table Summary
Holding Name	% of Net Assets
JPMorgan Nasdaq Equity Premium Income ETF	15.3%
Global X Nasdaq 100 Covered Call ETF	11.7%
First Trust Nasdaq BuyWrite Income ETF	10.5%
First Trust BuyWrite Income ETF	10.3%
PIMCO Dynamic Income Fund	8.3%
Defiance Nasdaq 100 Target 30 Weekly Distribution ETF	7.9%
Defiance S&P 500 Target 30 Weekly Distribution ETF	7.6%
PIMCO Dynamic Income Opportunities Fund	6.8%
AllianceBernstein Global High Income Fund, Inc.	5.2%
NEOS Nasdaq-100 Hedged Equity Income ETF	4.9%

Material Fund Changes

No material changes occurred during the year ended August 31, 2026.

Anchor Risk Managed Income Strategies Fund - Advisor Class (ATCAX)

Annual Shareholder Report - August 31, 2026

Additional information is available on the Fund's website (https://anchor-capital.com/funds/), including its:

Prospectus
Financial information
Holdings
Proxy voting information

TSR-AR 083126-ATCAX

Anchor Risk Managed Income Strategies Fund - Institutional Class (ATCSX)

Annual Shareholder Report - August 31, 2026

Fund Overview

What were the Fund’s costs for the last year?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Institutional Class	$227	2.25%

How did the Fund perform during the reporting period?

Market Conditions:

• Performance: The Bloomberg U.S. Aggregate Bond Index experienced a total return of 1.89% over the reporting period. The Fund had a total return of 1.34%, trailing the benchmark.

• Volatility: The U.S. Bond market experienced notable fluctuations, with the Bloomberg U.S. Aggregate Bond Index posting a daily standard deviation of 0.23%. In comparison, the Fund maintained a slightly higher volatility at 0.47%, reflecting its more active approach. However, the Fund’s beta of 0.46 and low correlation of 0.23 to the benchmark indicate limited sensitivity to broader market movements, contributing to a differentiated risk-return profile.

Investment Strategies and Techniques:

Summary

During the reporting period, the Bloomberg U.S. Aggregate Bond Index returned 1.89%, compared with 1.34% for the Fund. Fixed income markets were shaped by shifting interest-rate expectations, persistent inflation, and changing economic data. Against this backdrop, the Fund’s dynamic investment exposure and active allocation across ETFs and index-based derivatives supported positive performance while maintaining a differentiated approach to traditional bond-market exposure.

How has the Fund performed over the last ten years?

Total Return Based on $10,000 Investment

Table Summary
	Anchor Risk Managed Income Strategies Fund	Bloomberg U.S. Aggregate Bond Index
Aug-2016	$10,000	$10,000
Aug-2017	$10,222	$10,049
Aug-2018	$10,053	$9,944
Aug-2019	$10,049	$10,955
Aug-2020	$11,086	$11,664
Aug-2021	$11,592	$11,655
Aug-2022	$10,683	$10,313
Aug-2023	$9,966	$10,189
Aug-2024	$10,734	$10,933
Aug-2025	$11,043	$11,276
Aug-2026	$11,191	$11,489

Average Annual Total Returns

Table Summary
	1 Year	5 Years	10 Years
Anchor Risk Managed Income Strategies Fund	1.34%	-0.70%	1.13%
Bloomberg U.S. Aggregate Bond Index	1.89%	-0.29%	1.40%

Fund Statistics

Net Assets$15,512,025
Number of Portfolio Holdings12
Advisory Fee (net of waivers)$193,242
Portfolio Turnover29%

Asset Weighting (% of total investments)

Table Summary
Value	Value
Closed End Funds	28.8%
Exchange-Traded Funds	71.2%

What did the Fund invest in?

Asset Weighting (% of total investments)

Table Summary
Value	Value
Fixed Income	21.2%
Equity	78.8%

Top 10 Holdings (% of net assets)

Table Summary
Holding Name	% of Net Assets
JPMorgan Nasdaq Equity Premium Income ETF	15.3%
Global X Nasdaq 100 Covered Call ETF	11.7%
First Trust Nasdaq BuyWrite Income ETF	10.5%
First Trust BuyWrite Income ETF	10.3%
PIMCO Dynamic Income Fund	8.3%
Defiance Nasdaq 100 Target 30 Weekly Distribution ETF	7.9%
Defiance S&P 500 Target 30 Weekly Distribution ETF	7.6%
PIMCO Dynamic Income Opportunities Fund	6.8%
AllianceBernstein Global High Income Fund, Inc.	5.2%
NEOS Nasdaq-100 Hedged Equity Income ETF	4.9%

Material Fund Changes

No material changes occurred during the year ended August 31, 2026.

Anchor Risk Managed Income Strategies Fund - Institutional Class (ATCSX)

Annual Shareholder Report - August 31, 2026

Additional information is available on the Fund's website (https://anchor-capital.com/funds/), including its:

Prospectus
Financial information
Holdings
Proxy voting information

TSR-AR 083126-ATCSX

Preparation of Federal & State income tax returns, assistance with calculation of required income, capital gain and excise distributions and preparation of Federal excise tax returns.

The Registrant’s schedule of investments in unaffiliated issuers is included in the Financial Statements under Item 7 of this form.

Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies.

Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout Each Year Presented.

Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout the Year Presented.

Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout Each Year Presented.

The Anchor Risk Managed Income Strategies Fund (“Income Fund”) and Anchor Risk Managed Equity Strategies Fund (“Equity Fund”) (each a “Fund” and collectively, the “Funds”) are diversified series of shares of beneficial interest of Northern Lights Fund Trust IV (the “Trust”), a trust organized under the laws of the State of Delaware on June 2, 2015, and registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company. The Income Fund seeks to provide long-term growth of capital while providing current income. The Equity Fund seeks to provide total return from income and capital appreciation with a secondary objective of limiting risk during unfavorable market conditions. The Income Fund commenced operations on September 29, 2015. The Equity Fund commenced operations on September 6, 2016. The Funds are “fund of funds” in that the Funds will generally invest in other investment companies.

Each Fund offers two share classes designated as Institutional Class and Advisor Class. The Investor Class of the Equity Fund was renamed Advisor Class on April 29, 2020. The Advisor Class of the Equity Fund commenced operations on April 30, 2020. The Advisor Class of the Income Fund commenced operations on September 11, 2020. The Income Fund charges a fee of 2% on redemptions of shares held for less than 60 days. Each class represents an interest in the same assets of each Fund and classes are identical except for differences in their ongoing service and distribution charges. Fund level income and expenses and realized and unrealized capital gains and losses are allocated to each class of shares based on their relative net assets within the respective Fund. Class specific expenses are allocated to that share class.

Effective January 16, 2025, each class of shares of the Income Fund underwent a 1-for-2 reverse stock split. The effect of the reverse stock split decreased the number of shares outstanding for the Income Fund with a corresponding increase in the net asset value per share. This event did not impact the overall net assets of the Income Fund. The share activity presented in the Statements of Changes and the per share data presented in the Financial Highlights have been retroactively adjusted to reflect this reverse stock split.

The following is a summary of significant accounting policies followed by each Fund in preparation of its financial statements. These policies are in conformity with generally accepted accounting principles in the United States of America (“GAAP”). The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses for the period. Actual results could differ from those estimates. Each Fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 946 “Financial Services – Investment Companies,” including FASB Accounting Standards Update (“ASU”) 2013-08.

Segment Reporting – An operating segment is defined as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the public entity’s chief operating decision maker (“CODM”) to make decisions about resources to be allocated to the segment and assess its performance, and has discrete financial information available. Each Fund’s CODM is comprised of its portfolio manager and the chief financial officer of the Trust. The Funds operate

as a single operating segment. The Funds’ income, expenses, assets, changes in net assets resulting from operations and performance are regularly monitored and assessed as a whole by the CODM responsible for oversight functions of the Funds, using the information presented in the financial statements and financial highlights.

Accounting Pronouncement – The Funds adopted the FASB ASU 2023-09, “Income Taxes (Topic 740) Improvements to Income Tax Disclosures” (“ASU 2023-09”), which establishes new income tax disclosure requirements and modifies or eliminates certain existing disclosure provisions. The amendments in this ASU are intended to address investor requests for more transparency about income tax information and to improve the effectiveness of income tax disclosures. The Funds’ adoption of ASU 2023-09 did not have a material impact on the Funds’ financial statements.

Security Valuation – Securities listed on an exchange are valued at the last reported sale price at the close of the regular trading session of the exchange on the business day the value is being determined, or in the case of securities listed on NASDAQ, at the NASDAQ Official Closing Price. In the absence of a sale, such securities shall be valued at the mean between the current bid and ask prices on the day of valuation. Exchange traded futures are valued at the final settle price or, in the absence of a sale price, at the mean between the current bid and ask prices on the day of valuation. Short-term debt obligations having 60 days or less remaining until maturity, at time of purchase, may be valued at amortized cost.

Valuation of Underlying Funds – The Funds may invest in portfolios of open-end or closed-end investment companies (the “Underlying Funds”). Investment companies are valued at their respective net asset values as reported by such investment companies. Open-end investment companies value securities in their portfolios for which market quotations are readily available at their market values (generally the last reported sale price) and all other securities and assets at their fair value using methods established by the board of directors of the open-end funds. The shares of many closed-end investment companies and exchange traded funds (“ETFs”), after their initial public offering, frequently trade at a price per share, which is different than the net asset value per share. The difference represents a market premium or market discount of such shares. There can be no assurances that the market discount or market premium on shares of any closed-end investment company or ETF purchased by the Funds will not change.

The Funds may hold investments, such as private investments, interests in commodity pools, other non-traded securities or temporarily illiquid securities, for which market quotations are not readily available or are determined to be unreliable. These securities are valued using the “fair value” procedures approved by Trust’s Board of Trustees (the “Board”). The Board has designated the Funds’ adviser as their valuation designee (the “Valuation Designee”) to execute these procedures. The Board may also enlist third party consultants, such as a valuation specialist at a public accounting firm, valuation consultant or financial officer of a security issuer on an as-needed basis to assist the Valuation Designee in determining a security-specific fair value. The Board is responsible for reviewing and approving fair value methodologies utilized by the Valuation Designee, approval of which shall be based upon whether the Valuation Designee followed the valuation procedures established by the Board.

Fair Valuation Process – Applicable investments are valued by the Valuation Designee pursuant to valuation procedures established by the Board. For example, fair value determinations are required for the following securities: (i) securities for which market quotations are insufficient or not readily available on a particular business day (including securities for which there is a short and temporary lapse in the provision of a price by the

regular pricing source); (ii) securities for which, in the judgment of the Valuation Designee, the prices or values available do not represent the fair value of the instrument; factors which may cause the Valuation Designee to make such a judgment include, but are not limited to, the following: only a bid price or an asked price is available; the spread between bid and asked prices is substantial; the frequency of sales; the thinness of the market; the size of reported trades; and actions of the securities markets, such as the suspension or limitation of trading; (iii) securities determined to be illiquid; and (iv) securities with respect to which an event that affects the value thereof has occurred (a “significant event”) since the closing prices were established on the principal exchange on which they are traded, but prior to a Fund’s calculation of its net asset value. Specifically, interests in commodity pools or managed futures pools are valued on a daily basis by reference to the closing market prices of each futures contract or other asset held by a pool, as adjusted for pool expenses. Restricted or illiquid investments, such as private investments or non-traded securities are valued based upon the current bid for the security from two or more independent dealers or other parties reasonably familiar with the facts and circumstances of the security (who should take into consideration all relevant factors as may be appropriate under the circumstances). If a current bid from such independent dealers or other independent parties is unavailable, the Valuation Designee shall determine the fair value of such security using the following factors: (i) the type of security; (ii) the cost at date of purchase; (iii) the size and nature of a Fund’s holdings; (iv) the discount from market value of unrestricted securities of the same class at the time of purchase and subsequent thereto; (v) information as to any transactions or offers with respect to the security; (vi) the nature and duration of restrictions on disposition of the security and the existence of any registration rights; (vii) how the yield of the security compares to similar securities of companies of similar or equal creditworthiness; (viii) the level of recent trades of similar or comparable securities; (ix) the liquidity characteristics of the security; (x) current market conditions; and (xi) the market value of any securities into which the security is convertible or exchangeable.

The Funds utilize various methods to measure the fair value of their investments on a recurring basis. GAAP establishes a hierarchy that prioritizes inputs to valuation methods. The three levels of input are:

Level 1 – Unadjusted quoted prices in active markets for identical assets and liabilities that the Funds have the ability to access.

Level 2 – Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument in an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Level 3 – Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Funds’ own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available.

The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3.

The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety, is determined based on the lowest level input that is significant to the fair value measurement in its entirety.

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The following tables summarize the inputs used as of August 31, 2026 for the Funds’ assets and liabilities measured at fair value:

Exchange Traded Funds – The Funds may invest in ETFs. ETFs are a type of fund bought and sold on a securities exchange. An ETF trades like common stock and represents a portfolio of securities. The Funds may purchase an ETF to gain exposure to a portion of the U.S. or a foreign market. The risks of owning an ETF generally reflect the risks of owning its underlying securities, although the lack of liquidity on an ETF could result in it being more volatile. Additionally, ETFs have fees and expenses that reduce their value.

Short Sales – A “short sale” is a transaction in which a Fund sells a security it does not own but has borrowed in anticipation that the market price of that security will decline. A Fund is obligated to replace the security borrowed by purchasing it on the open market at a later date. If the price of the security sold short increases between the time of the short sale and the time a Fund replaces the borrowed security, the Fund will incur a loss, potentially unlimited in size. Conversely, if the price declines, a Fund will realize a gain, limited to the price at which the Fund sold the security short.

Futures – The Funds are subject to equity price risk in the normal course of pursuing their investment objectives. To manage equity price risk, the Funds may enter into futures contracts. Upon entering a futures contract with a broker, a Fund deposits a “cash deposit” with the broker as recorded in the accompanying Statements of Assets and Liabilities. Futures contracts are marked-to-market daily and subsequent daily payments (variation margin) are made or received by a Fund depending on the daily fluctuations in the value of the futures contracts and are recorded as unrealized appreciation or (depreciation). This receivable and/or payable, if any, is included in daily variation margin on futures contracts in the Statement of Assets and Liabilities. When a contract is closed, a Fund recognizes a realized gain or loss. Futures contracts have market risks, including the risk that the change in the value of the contract may not correlate with changes in the value of the underlying securities. With futures contracts, there is minimal counterparty credit risk to the Funds since futures are exchange traded and the exchange’s clearinghouse, as counterparty to all exchange traded futures, guarantees the futures against

default. Futures contracts outstanding at year end are listed after each Fund’s Schedule of Investments.

The notional value represents amounts related to each Fund’s futures contracts upon which the fair value of the futures contracts held by the Fund is based. Notional values do not represent the current fair value of the Funds’ futures contracts. Further, the underlying price changes in relation to variables specified by the notional values, affecting the fair value of these derivative financial instruments. Theoretically, each Fund’s exposure is equal to the notional value of contracts held. Each Fund’s obligations will generally equal only the amount to be paid or received through a futures contract.

The notional value of the derivative instruments outstanding as of August 31, 2026, as disclosed in each Fund’s Schedule of Investments, and the amounts realized and changes in unrealized gains and losses on derivative instruments during the period as disclosed below and within the Statements of Operations serve as indicators of the volume of derivative activity.

For the year ended August 31, 2026, the amount of unrealized appreciation (depreciation) and realized gain (loss) on futures contracts subject to equity price risk amounted to the following:

Security Transactions and Related Income – Security transactions are accounted for on the trade date. Interest income is recognized on an accrual basis. Discounts are accreted and premiums are amortized on securities purchased over the lives of the respective securities. Dividend income and expenses are recorded on the ex-dividend date. Realized gains or losses from sales of securities are determined by comparing the identified cost of the security lot sold with the net sales proceeds. Withholding taxes on foreign dividends have been provided for in accordance with the Funds’ understanding of the applicable country’s tax rules and rates.

Dividends and Distributions to Shareholders – Dividends from net investment income, if any, are declared monthly by the Income Fund and quarterly by the Equity Fund. Distributable net realized capital gains, if any, are declared and distributed annually. Dividends from net investment income and distributions from net realized gains are determined in accordance with federal income tax regulations, which may differ from GAAP. These “book/tax” differences are considered either temporary (e.g., deferred losses, capital loss carryforwards, etc.) or permanent in nature. To the extent these differences are permanent in nature, such amounts are reclassified within the composition of net assets based on their federal tax-basis treatment; temporary differences do not require reclassification. Any such reclassifications will have no effect on net assets, results of operations, or net asset values per share of the Funds.

Federal Income Tax – It is each Fund’s policy to qualify as a regulated investment company by complying with the provisions of the Internal Revenue Code that are applicable to regulated investment companies and to distribute substantially all of their taxable income and net realized gains to shareholders. Therefore, no federal income tax provision is required. The Funds recognize the tax benefits of uncertain tax positions only where the position is “more likely than not” to be sustained assuming examination by tax authorities. Management has analyzed the Funds’ tax positions and has concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions taken on returns filed for open tax years ended August 31, 2023 to August 31, 2025 or expected to be taken in the Funds’ August 31, 2026 year-end tax returns. The Funds identify their major tax jurisdictions as U.S. federal, state of Ohio, and foreign jurisdictions where the Funds make significant investments; however, the Funds are not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change materially in the next twelve months.

The Funds recognize interest and penalties, if any, related to unrecognized tax benefits as income tax expense in the Statements of Operations. During the year, the Funds did not incur any interest or penalties.

Expenses – Expenses of the Trust that are directly identifiable to a specific fund are charged to that fund. Expenses, which are not readily identifiable to a specific fund, are allocated in such a manner as deemed equitable, taking into consideration the nature and type of expense and the relative sizes of the funds in the Trust.

Indemnification – The Trust indemnifies its officers and trustees for certain liabilities that may arise from the performance of their duties to the Trust. Additionally, in the normal course of business, the Funds enter into contracts that contain a variety of representations and warranties, which provide general indemnities. The Funds’ maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Funds that have not yet occurred. However, based on experience, the risk of loss due to these warranties and indemnities appears to be remote.

Market and Geopolitical Risk – The increasing interconnectivity between global economies and financial markets increases the likelihood that events or conditions in one region or financial market may adversely impact issuers in a different country, region or financial market. Securities in a Fund’s portfolio may underperform due to inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters, climate-change and climate related events, pandemics, epidemics, terrorism, international conflicts, regulatory events, tariffs and trade wars, and governmental or quasi-governmental actions. The occurrence of global events similar to those in recent years may result in market volatility and may have long-term effects on both the U.S. and global financial markets.

For cash management purposes, the Funds may concentrate cash with the Funds’ custodian and broker. The Income Fund and Equity Fund held $774,746 and $6,129,072, respectively, at Interactive Brokers.

For the year ended August 31, 2026, cost of purchases and proceeds from sales of portfolio securities, other than short-term investments, amounted to $5,459,075 and $10,640,337, respectively, for the Income Fund and $0 and $84,770,427, respectively, for the Equity Fund.

Anchor Capital Management Group, Inc. serves as the Funds’ investment adviser (the “Adviser”).

Pursuant to an investment advisory agreement with the Trust, on behalf of each Fund, the Adviser, under the oversight of the Board, oversees the daily operations of the Funds and supervises the performance of administrative and professional services provided by others. As compensation for its services and the related expenses borne by the Adviser, each Fund pays the Adviser a management fee, computed and accrued daily and paid monthly, at an annual rate of 1.60% of each Fund’s average daily net assets. For the year ended August 31, 2026, the Funds incurred advisory fees of $381,702 for the Income Fund and $2,367,240 for the Equity Fund.

The Adviser has contractually agreed to reduce its fees and/or absorb expenses of each Fund until at least December 31, 2026 to ensure that total annual fund operating expenses after fee waiver and/or reimbursement excluding (i) any front-end or contingent deferred loads; (ii) brokerage fees and commissions; (iii) acquired fund fees and expenses; (iv) fees and expenses associated with investments in other collective investment vehicles or derivative instruments (including for example option and swap fees and expenses); (v) borrowing costs (such as interest and dividend expense on securities sold short); (vi) taxes; and (vii) extraordinary expenses, such as litigation expenses (which may include indemnification of Fund officers and Trustees, and contractual indemnification of Fund service providers (other than the Adviser)), will not exceed 2.25% of the average daily net assets of each Fund’s Institutional Class shares and 2.00% of the average daily net assets of each Fund’s Advisor Class shares. Fees waived or reimbursed by the Adviser may be recouped by the Adviser from the Funds, to the extent that overall expenses fall below the expense limitation within three years following when such amounts were waived and/or reimbursed if such recoupment can be achieved within the lesser of the foregoing expense limits or the expenses limits in place at the time of the recoupment. During the year ended August 31, 2026, the Adviser waived fees of $188,460 for the Income Fund and $77,443 for the Equity Fund which are subject to recapture by the Adviser. As of August 31, 2026, the Adviser has waived fees that can be recouped up to three years from the date incurred as summarized below:

Distributor – The distributor of the Funds is Northern Lights Distributors, LLC (the “Distributor”). The Board has adopted, on behalf of the Funds, the Trust’s Master Distribution and Shareholder Servicing Plan (the “Plan”), as amended, pursuant to Rule 12b-1 under the 1940 Act. Under the Plan, Institutional Class Shares may pay up to 0.25% of their average daily net assets to pay for certain distribution activities and shareholder services. No distribution fees are paid on the

Advisor Class Shares. For the year ended August 31, 2026, $26,349 and $94,617 were incurred under the Plan for the Income Fund and the Equity Fund, respectively.

The Distributor acts as the Funds’ principal underwriter in a continuous public offering of the Funds’ shares. For the year ended August 31, 2026, the Distributor did not receive any underwriting commissions for sales of the Funds’ shares.

In addition, certain affiliates of the Distributor provide services to the Funds as follows:

Ultimus Fund Solutions, LLC (“UFS”), an affiliate of the Distributor, provides administration, fund accounting, and transfer agent services to the Trust. Pursuant to separate servicing agreements with UFS, each Fund pays UFS customary fees for providing administration, fund accounting and transfer agency services to the Fund. Certain officers of the Trust are also officers of UFS, and are not paid any fees directly by the Funds for serving in such capacities.

Northern Lights Compliance Services, LLC (“NLCS”), an affiliate of UFS and the Distributor, provides a chief compliance officer to the Trust, as well as related compliance services, pursuant to a consulting agreement between NLCS and the Trust. Under the terms of such agreement, NLCS receives customary fees from the Funds.

Blu Giant, LLC (“Blu Giant”), an affiliate of UFS and the Distributor, provides EDGAR conversion and filing services, as well as print management services for the Funds on an ad-hoc basis. For the provision of these services, Blu Giant receives customary fees from the Funds.

The Trust engages an insurance broker affiliated with UFS for the purposes of assisting the Trust in obtaining its insurance policies.

The identified cost of investments in securities owned by the Funds for federal income tax purposes and the respective gross unrealized appreciation and depreciation at August 31, 2026 were as follows:

The tax character of distributions paid during the fiscal years ended August 31, 2026 and August 31, 2025 was as follows:

As of August 31, 2026, the components of accumulated earnings/(deficit) on a tax basis were as follows:

The difference between book basis and tax basis accumulated net investment income (loss), accumulated net realized gain(loss), and unrealized appreciation/(depreciation) from investments is primarily attributable to the tax deferral of losses on wash sales. In addition, the amount listed under other book/tax differences are primarily attributable to the tax deferral of losses on the unamortized portion of organization expenses for tax purposes.

Late year losses incurred after December 31 within the fiscal year are deemed to arise on the first business day of the following fiscal year for tax purposes. The Funds incurred and elected to defer such late year losses as follows:

Capital losses incurred after October 31 within the fiscal year are deemed to arise on the first business day of the following fiscal year for tax purposes. The Funds incurred and elected to defer such capital losses as follows:

On August 31, 2026, the Funds had capital loss carry forwards for federal income tax purposes available to offset future capital gains, along with capital loss carry forwards utilized as follows:

Permanent book and tax differences, primarily attributable to the book/tax treatment of net operating losses, and distributions in excess, resulted in reclassifications for the Funds for the fiscal year ended August 31, 2026, as follows:

Effective April 15, 2024, the Income Fund may assess a short-term redemption fee of 2.00% of the total redemption amount if a shareholder sells their shares after holding them for less than 60 days. The redemption fee is paid directly to the Income Fund from which the redemption is made. The Income Fund received redemption fees of $3,634 for the year ended August 31, 2026.

The Income Fund may borrow to meet repurchase requests. The Income Fund is required to maintain asset coverage (that is, total assets including borrowings, less liabilities exclusive of borrowings) of at least 300% of the amount borrowed. Effective July 29, 2023 the Income Fund had entered into an uncommitted line of credit (“LOC”) agreement with U.S. Bank, National Association of $4,000,000 which permits the Income Fund to borrow at a rate, per annum, equal to the prime rate. During the year ended August 31, 2026, the Income Fund incurred $16 of interest expense which is on the Statements of Operations. Average borrowings and the average interest rate for the days the LOC was outstanding during the year ended August 31, 2026 were $83,000 and 6.75%, respectively. The largest amount outstanding during the year ended August 31, 2026 was $83,000. The LOC expires on July 26, 2027.

The Equity Fund currently invests a portion of its assets in the following investment companies. The Fund may redeem its investment from the investment companies at any time if the Adviser determines that it is in the best interest of the Fund and its shareholders to do so. The performance of the Fund will be directly affected by the performance of these investment companies. The financial statements of these investment companies, including their portfolios of investments, can be found at the Securities and Exchange Commission’s website at www.sec.gov and should be read in conjunction with the Fund’s financial statements.

Each underlying fund, including each ETF, is subject to specific risks, depending on the nature of the underlying fund. These risks could include liquidity risk, sector risk, and foreign and related currency risk. Investors in the Funds will indirectly bear fees and expenses charged by the underlying investment companies in which the Funds invest in addition to the Funds’ direct fees and expenses.

The beneficial ownership, either directly or indirectly, of more than 25% of the voting securities of a fund creates presumption of control of the fund, under Section 2(a)(9) of the 1940 Act. As of August 31, 2026, Charles Schwab & Co., Inc., an account holding shares for the benefit of others in nominee name, held approximately 66% and 61% of the voting securities for the Income Fund and Equity Fund, respectively. LPL Financial, an account holding shares for the benefit of others in nominee name, held approximately 28% of the voting securities for the Income Fund. The Funds have no knowledge as to whether any beneficial owner included in these nominee accounts holds more than 25% of the voting shares of any Fund.

Subsequent events occurring after the date of the Statements of Assets and Liabilities have been evaluated through the date the financial statements were issued. Management has determined that no events or transactions occurred requiring adjustment or disclosure in the financial statements.

To the Shareholders of Anchor Risk Managed Income Strategies Fund and Anchor Risk Managed Equity Strategies Fund and
Board of Trustees of Northern Lights Fund Trust IV

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of Anchor Risk Managed Income Strategies Fund and Anchor Risk Managed Equity Strategies Fund (the “Funds”), each a series of Northern Lights Fund Trust IV, as of August 31, 2026, the related statements of operations for the year then ended, the statements of changes in net assets for each of the two years in the period then ended, the financial highlights for the years ended August 31, 2026, 2025, 2024 and 2023, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of August 31, 2026, the results of their operations for the year then ended, the changes in net assets for each of the two years in the period then ended, and the financial highlights for each of the four years in the period then ended, in conformity with accounting principles generally accepted in the United States of America.

The Funds’ financial highlights for the year ended August 31, 2022 were audited by other auditors whose report dated October 25, 2022, expressed an unqualified opinion on those financial highlights.

These financial statements are the responsibility of the Funds’ management. Our responsibility is to express an opinion on the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of August 31, 2026, by correspondence with the custodian and brokers. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

Information regarding how the Funds voted proxies relating to portfolio securities for the twelve month period ended June 30, as well as a description of the policies and procedures that the Funds use to determine how to vote proxies are available without charge, upon request, by (i) calling 1-800-290-8633; (ii) visiting the Funds’ website at https://anchor-capital.com/funds/; or (iii) referring to the Securities and Exchange Commission’s website at http://www.sec.gov.

There were no changes in or disagreements with accountants during the period covered by this report.

Renewal of the Investment Advisory Agreement with Anchor Capital Management Group, Inc.

In connection with the meeting of the Board of Trustees (the “Board”) of Northern Lights Fund Trust IV (the “Trust”) held on July 22-23, 2026 (the “Meeting”), the Board discussed the renewal of an investment advisory agreement (the “Anchor Advisory Agreement”) between Anchor Capital Management Group, Inc. (“ACMG”) and the Trust, with respect to Anchor Risk Managed Income Strategies Fund (“ARMI”) and Anchor Risk Managed Equity Strategies Fund (“ARME”) (together the “Anchor Funds”). In considering the renewal of the Anchor Advisory Agreement, the Board received materials specifically relating to the Anchor Advisory Agreement.

The Board reviewed and discussed the materials that were provided in advance of the Meeting and deliberated on the renewal of the Anchor Advisory Agreement. The Board relied upon the advice of independent legal counsel and its own business judgment in determining the material factors to be considered in evaluating the Anchor Advisory Agreement on behalf of the Anchor Funds and the weight to be given to each factor considered. The conclusions reached by the Board were based on a comprehensive evaluation of all of the information provided and were not the result of any one factor. Moreover, each Trustee may have afforded different weight to the various factors in reaching his conclusions with respect to the renewal of the Anchor Advisory Agreement.

Nature, Extent and Quality of Services. The Board reviewed the key personnel servicing the Anchor Funds, noting no changes since the last approval of the advisory agreements. The Board reviewed the investment advisory services provided by ACMG, including portfolio management and compliance oversight. The Board concluded it could expect ACMG to continue to provide satisfactory services to the Anchor Funds and their shareholders.

ARME – The Board observed that ARME underperformed its benchmark index, the S&P 500 Index, and its Morningstar category and peer group medians for the 1-year period ended April 30, 2026 with net returns of 13.67%. The Board further observed that ARME underperformed its benchmark index but outperformed its peer group and Morningstar category medians for the since

inception period ended April 30, 2026. The Board noted that ARME ranked in the first and second quartile of its peer group with respect to its net returns for the 1-year and since inception periods ended April 30, 2026, respectively. The Board acknowledged ACMG’s explanation that ARME’s underperformance for the 1-year period could be attributed to elevated volatility and the shifting of interest rate expectations. The Board concluded that ARME’s performance was acceptable.

ARMI – The Board noted that ARMI outperformed its benchmark index, the Bloomberg U.S. Aggregate Bond Index, Morningstar category median and peer group median for the 1-year period ended April 30, 2026 with net returns of 10.45%. The Board further noted that ARMI ranked in the first quartile of its peer group and Morningstar category with respect to its net returns and standard deviation for the same period. The Board observed that ARMI underperformed all benchmarks for the 3-year, 5-year and since inception periods ended April 30, 2026. The Board concluded that ARMI’s performance was acceptable.

ARME – The Board observed that the advisory fee of 1.60% for ARME was above its Morningstar category and peer group medians and averages but below the high of its Morningstar category of 1.99%. The Board further observed that the net expense ratio of 2.24% for ARME was higher than its peer group and Morningstar category medians and averages and equal to its Morningstar category high. The Board noted ACMG’s explanation that the higher advisory fee was attributed to the differences in strategy development and implementation of ARME, which required more diligence and capital. The Board acknowledged ACMG’s intent to renew the expense limitation agreement. The Board concluded that the advisory fee of ARME was not unreasonable.

ARMI – The Board noted that the advisory fee and net expense ratio of 1.60% and 2.26%, respectively, for ARMI was higher than its peer group and Morningstar category averages and medians and equal to the highs of the Morningstar category. The Board noted ACMG’s explanation that the higher advisory fee was attributed to the differences in strategy development and implementation of ARMI, which required more diligence and capital. The Board acknowledged ACMG’s intent to renew the expense limitation agreement. The Board concluded that the advisory fee of ARMI was not unreasonable.

Profitability. The Board reviewed the profitability analysis provided by ACMG and observed that ACMG was earning a modest profit for ARME and ARMI. The Board determined that excessive profitability was not an issue for ACMG with respect to the Anchor Funds at this time.

Economies of Scale. The Board considered whether economies of scale had been reached with respect to the management of the Anchor Funds. The Board noted that ACMG had indicated a willingness to evaluate the appropriateness of breakpoints at higher asset levels. The Board agreed to monitor and revisit the issue at the appropriate time.

Conclusion. Having requested such information from ACMG as the Board believed to be reasonably necessary to evaluate the terms of the advisory agreements, and with the advice of independent counsel, the Board determined that renewal of the advisory agreements between ACMG and the Trust, on behalf of the Anchor Funds, was in the best interests of the Anchor Funds and their shareholders.

Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies.

Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.

Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.

Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following person on behalf of the registrant and in the capacities and on the dates indicated.

225 Pictoria Drive Cincinnati, OH	45246
(Address of principal executive offices)	(Zip code)

Date of fiscal year end:	8/31

Date of reporting period:	8/31/26

Shares			Fair Value
		CLOSED END FUNDS — 27.6%
		EQUITY - 7.3%
	10,000	BlackRock Science & Technology Trust	$	508,600
	20,000	BlackRock Science and Technology Term Trust		626,400
				1,135,000
		FIXED INCOME - 20.3%
	80,000	AllianceBernstein Global High Income Fund, Inc.		809,600
	84,300	PIMCO Dynamic Income Fund		1,280,517
	84,500	PIMCO Dynamic Income Opportunities Fund		1,055,405
				3,145,522

		TOTAL CLOSED END FUNDS (Cost $4,238,927)		4,280,522

		EXCHANGE-TRADED FUNDS — 68.2%
		EQUITY - 68.2%
	54,833	Defiance Nasdaq 100 Target 30 Weekly Distribution ETF		1,231,001
	40,000	Defiance S&P 500 Target 30 Weekly Distribution ETF		1,174,800
	67,000	First Trust BuyWrite Income ETF		1,593,930
	74,000	First Trust Nasdaq BuyWrite Income ETF		1,624,300
	99,500	Global X Nasdaq 100 Covered Call ETF		1,818,860
	39,500	JPMorgan Nasdaq Equity Premium Income ETF		2,378,690
	14,000	NEOS Nasdaq-100 Hedged Equity Income ETF		762,860
				10,584,441

		TOTAL EXCHANGE-TRADED FUNDS (Cost $9,454,798)		10,584,441

		TOTAL INVESTMENTS - 95.8% (Cost $13,693,725)	$	14,864,963
		OTHER ASSETS IN EXCESS OF LIABILITIES - 4.2%		647,062
		NET ASSETS - 100.0%	$	15,512,025

Shares			Fair Value
		EXCHANGE-TRADED FUNDS — 94.2%
		EQUITY - 94.2%
	90,000	Invesco QQQ Trust Series 1^(a)	$	64,508,400
	57,000	State Street SPDR S&P 500 ETF Trust^(a)		43,721,850
				108,230,250

		TOTAL EXCHANGE-TRADED FUNDS (Cost $34,573,615)		108,230,250

		SHORT-TERM INVESTMENTS — 0.9%
		MONEY MARKET FUNDS - 0.9%
	1,075,744	First American Government Obligations Fund Class X, 3.58% (Cost $1,075,744)^(b)		1,075,744

		TOTAL INVESTMENTS - 95.1% (Cost $35,649,359)	$	109,305,994
		OTHER ASSETS IN EXCESS OF LIABILITIES - 4.9%		5,674,366
		NET ASSETS - 100.0%	$	114,980,360

	^(a)	See note 10 to financial statements.
	^(b)	Rate disclosed is the seven-day effective yield as of August 31, 2026.

Registrant’s telephone number, including area code:	631-470-2612

	ETF	- Exchange-Traded Fund
	SPDR	- Standard & Poor’s Depositary Receipt

	Anchor Risk Managed Income Strategies Fund			Anchor Risk Managed Equity Strategies Fund
ASSETS
Investment securities:
At cost	$	13,693,725		$	35,649,359
At value	$	14,864,963		$	109,305,994
Deposits with brokers (Note 3):
Interactive Brokers LLC		774,746			6,129,072
Dividends and interest receivable		30,247			2,175
Receivable for Fund shares sold		500			8,555
Prepaid expenses		14,223			25,479
TOTAL ASSETS		15,684,679			115,471,275

LIABILITIES
Due to custodian		118,942			-
Investment advisory fees payable		11,726			177,816
Payable for Fund shares redeemed		9,485			232,535
Payable to related parties		4,573			13,199
Distribution (12b-1) fees payable		1,466			6,558
Accrued expenses and other liabilities		26,462			60,807
TOTAL LIABILITIES		172,654			490,915
NET ASSETS	$	15,512,025		$	114,980,360

Net Assets Consist Of:
Paid in capital		21,765,647			52,713,483
Accumulated income (deficits)		(6,253,622	)		62,266,877
NET ASSETS	$	15,512,025		$	114,980,360
Institutional Class
Net Assets	$	7,800,080		$	30,125,116
Shares of beneficial interest outstanding ($0 par value, unlimited shares authorized)		528,641			1,917,765
Net asset value, offering and redemption price per share (Net assets/Shares of Beneficial Interest) (a)	$	14.75		$	15.71

Advisor Class
Net Assets	$	7,711,945		$	84,855,244
Shares of beneficial interest outstanding ($0 par value, unlimited shares authorized)		521,298			5,332,960
Net asset value, offering and redemption price per share (Net assets/Shares of Beneficial Interest) (a)	$	14.79		$	15.91

	Anchor Risk Managed Income Strategies Fund			Anchor Risk Managed Equity Strategies Fund
INVESTMENT INCOME
Dividends	$	689,747		$	950,614
Interest		147,785			254,070
TOTAL INVESTMENT INCOME		837,532			1,204,684

EXPENSES
Investment advisory fees		381,702			2,367,240
Administrative services fees		49,197			161,968
Registration fees		40,000			59,999
Accounting services fees		34,816			54,575
Third party administrative services fees		33,377			216,111
Transfer agent fees		29,703			31,246
Distribution (12b-1) fees - Institutional Class		26,349			94,617
Legal fees		20,811			17,506
Audit fees		18,682			18,671
Trustees’ fees and expenses		18,453			18,453
Compliance officer fees		14,001			28,989
Printing and postage expenses		11,409			37,637
Custodian fees		7,342			16,333
Insurance expense		2,086			1,957
Interest expense		16			-
Miscellaneous expense		4,384			5,474
TOTAL EXPENSES		692,328			3,130,776
Less: Fees waived by the adviser		(188,460	)		(77,443	)
NET EXPENSES		503,868			3,053,333
NET INVESTMENT INCOME (LOSS)		333,664			(1,848,649	)

REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS
Net realized gain (loss) from:
Investments		666,706			56,100,193
Distributions of capital gains from underlying investment companies		39,542			-
Futures contracts		(1,453,811	)		(21,684,365	)
Net change in unrealized appreciation (depreciation) on:
Investments		1,097,801			(27,269,467	)
Futures contracts		(59,279	)		(56,380	)
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS		290,959			7,089,981

NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS	$	624,623		$	5,241,332

	Anchor Risk Managed Income Strategies Fund						Anchor Risk Managed Equity Strategies Fund
	For the Year Ended August 31, 2026			For the Year Ended August 31, 2025			For the Year Ended August 31, 2026			For the Year Ended August 31, 2025
FROM OPERATIONS:
Net investment income (loss)	$	333,664		$	1,159,308		$	(1,848,649	)	$	(2,671,513	)
Net realized gain (loss) from investments		(747,563	)		(919,058	)		34,415,828			54,316,583
Net change in unrealized appreciation (depreciation) on investments		1,038,522			362,584			(27,325,847	)		(42,782,702	)
Net increase in net assets resulting from operations		624,623			602,834			5,241,332			8,862,368

DISTRIBUTIONS TO SHAREHOLDERS:
Institutional Class:
Distributable earnings		(551,204	)		(1,242,535	)		-			-
Return of capital		(461,278	)		(383,959	)		-			-
Advisor Class:
Distributable earnings		(817,326	)		(951,559	)		-			-
Return of capital		(454,870	)		(422,412	)		-			-
Net decrease in net assets from distributions to shareholders		(2,284,678	)		(3,000,465	)		-			-

FROM SHARES OF BENEFICIAL INTEREST:
Institutional Class:
Proceeds from shares sold		1,492,268			7,785,479			2,742,394			13,801,665
Reinvestment of dividends		1,011,152			1,625,569			-			-
Redemption fee proceeds		1,647			7,647			-			-
Payments for shares redeemed		(6,338,755	)		(11,722,277	)		(17,413,211	)		(56,234,346	)
Advisor Class:
Proceeds from shares sold		6,910,239			11,287,514			33,673,610			42,375,033
Reinvestment of dividends		1,272,070			1,373,956			-			-
Redemption fee proceeds		1,987			7,264			-			-
Payments for shares redeemed		(13,269,654	)		(7,635,402	)		(87,102,176	)		(115,537,413	)
Net increase (decrease) in net assets from shares of beneficial interest		(8,919,046	)		2,729,750			(68,099,383	)		(115,595,061	)

TOTAL INCREASE (DECREASE) IN NET ASSETS		(10,579,101	)		332,119			(62,858,051	)		(106,732,693	)

NET ASSETS
Beginning of Year		26,091,126			25,759,007			177,838,411			284,571,104
End of Year	$	15,512,025		$	26,091,126		$	114,980,360		$	177,838,411

SHARE ACTIVITY
Institutional Class:
Shares sold		93,959			543,607			174,159			934,870
Shares reinvested		64,305			136,453			-			-
Shares reduced due to reverse split*		-			(874,992	)		-			-
Shares redeemed		(401,619	)		(869,735	)		(1,106,876	)		(3,882,543	)
Net decrease in shares of beneficial interest outstanding		(243,355	)		(1,064,667	)		(932,717	)		(2,947,673	)

Advisor Class:
Shares sold		434,825			910,628			2,076,708			2,891,636
Shares reinvested		80,496			112,212			-			-
Shares reduced due to reverse split*		-			(765,284	)		-			-
Shares redeemed		(843,335	)		(512,588	)		(5,439,024	)		(7,892,599	)
Net decrease in shares of beneficial interest outstanding		(328,014	)		(255,032	)		(3,362,316	)		(5,000,963	)

		For the Year Ended August 31, 2026*			For the Year Ended August 31, 2025*			For the Year Ended August 31, 2024*			For the Year Ended August 31, 2023*			For the Year Ended August 31, 2022*
		Institutional Class
Net asset value, beginning of year		$	16.07		$	17.50		$	17.84		$	19.42		$	21.60
Activity from investment operations:
Net investment income (loss) ^(1)(4)(8)			0.21			0.75			1.78			0.20			(0.38	)
Net realized and unrealized gain (loss) on investments			0.03			(0.29	)		(0.42	)		(1.50	)		(1.28	)
Total from investment operations			0.24			0.46			1.36			(1.30	)		(1.66	)

Less distributions:
From net investment income			(0.69	)		(1.39	)		(1.70	)		(0.28	)		-
From net realized gains			-			-			-			-			(0.52	)
From return of capital			(0.87	)		(0.50	)		-			-			-
Total distributions			(1.56	)		(1.89	)		(1.70	)		(0.28	)		(0.52	)

Paid-in capital from redemption fees ⁽¹⁾			-	⁽⁹⁾		-			-			-			-

Net asset value, end of year		$	14.75		$	16.07		$	17.50		$	17.84		$	19.42

Total return ⁽²⁾			1.34	%		2.88	%		7.70	%		(6.70	)%		(7.85	)%

Net assets, end of year (000s)		$	7,800		$	12,409		$	16,075		$	13,137		$	27,697

Ratio of gross expenses to average net assets including interest and dividend expense ^(3)(5)(7)			3.06	%		2.90	%		3.25	%		3.49	%		4.60	%
Ratio of net expenses to average net assets including interest and dividend expense ⁽³⁾⁽⁶⁾			2.25	%		2.26	%		2.26	%		3.14	%		4.50	%
Ratio of net investment income (loss) to average net assets ⁽³⁾⁽⁴⁾			1.34	%		4.49	%		9.80	%		1.10	%		(1.89	)%
Portfolio turnover rate			29	%		6	%		365	%		1,097	%		1,181	%

*	Effective January 16, 2025, Anchor Risk Managed Income Strategies Fund had a 1-for-2 reverse stock split. Per share amounts for the periods have been adjusted to give effect to this reverse stock split.
⁽¹⁾	Per share amounts calculated using the average shares method, which more appropriately presents the per share data for the year.
⁽²⁾	Total returns are historical in nature and assume changes in share price, and reinvestment of dividends and capital gains distributions, if any, and exclude the effect of redemption fees.
⁽³⁾	The ratios of expenses to average net assets and net investment income (loss) to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.
⁽⁴⁾	Recognition of net investment income (loss) by the Fund is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.
⁽⁵⁾	Ratio of gross expenses to average net assets excluding interest expense and dividend expense ⁽³⁾		3.06	%		2.89	%		3.24	%		2.60	%		2.35	%
⁽⁶⁾	Ratio of net expenses to average net assets excluding interest expense and dividend expense ⁽³⁾		2.25	%		2.25	%		2.25	%		2.25	%		2.25	%
⁽⁷⁾	Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements by the adviser.
⁽⁸⁾	Does not include the expenses of the underlying investment companies in which the Fund invests.
⁽⁹⁾	Dollar amount rounds to less than $ 0.005.

		For the Year Ended August 31, 2026+			For the Year Ended August 31, 2025+			For the Year Ended August 31, 2024+			For the Year Ended August 31, 2023+			For the Year Ended August 31, 2022+
		Advisor Class
Net asset value, beginning of year		$	16.11		$	17.54		$	17.88		$	19.48		$	21.62
Activity from investment operations:
Net investment income (loss) ^(1)(4)(8)			0.23			0.73			1.94			0.22			(0.34	)
Net realized and unrealized gain (loss) on investments			0.05			(0.23	)		(0.50	)		(1.48	)		(1.28	)
Total from investment operations			0.28			0.50			1.44			(1.26	)		(1.62	)

Less distributions:
From net investment income			(0.73	)		(1.43	)		(1.78	)		(0.34	)		-
From net realized gains			-			-			-			-			(0.52	)
From return of capital			(0.87	)		(0.50	)		-			-			-
Total distributions			(1.60	)		(1.93	)		(1.78	)		(0.34	)		(0.52	)

Paid-in capital from redemption fees ⁽¹⁾			-	⁽⁹⁾		-			-			-			-

Net asset value, end of year		$	14.79		$	16.11		$	17.54		$	17.88		$	19.48

Total return ⁽²⁾			1.57	%		3.14	%		8.10	%		(6.50	)%		(7.65	)%

Net assets, end of year (000s)		$	7,712		$	13,682		$	9,684		$	3,076		$	10,232

Ratio of gross expenses to average net assets including interest and dividend expense ^(3)(5)(7)			2.79	%		2.62	%		2.98	%		3.28	%		4.35	%
Ratio of net expenses to average net assets including interest and dividend expense ⁽³⁾⁽⁶⁾			2.00	%		2.01	%		2.01	%		2.96	%		4.25	%
Ratio of net investment income (loss) to average net assets ⁽³⁾⁽⁴⁾			1.45	%		4.37	%		10.59	%		1.16	%		(1.65	)%
Portfolio turnover rate			29	%		6	%		365	%		1,097	%		1,181	%

+	Effective January 16, 2025, Anchor Risk Managed Income Strategies Fund had a 1-for-2 reverse stock split. Per share amounts for the periods have been adjusted to give effect to this reverse stock split.
⁽¹⁾	Per share amounts calculated using the average shares method, which more appropriately presents the per share data for the year.
⁽²⁾	Total returns are historical in nature and assume changes in share price, and reinvestment of dividends and capital gains distributions, if any, and exclude the effect of redemption fees.
⁽³⁾	The ratios of expenses to average net assets and net investment income (loss) to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.
⁽⁴⁾	Recognition of net investment income (loss) by the Fund is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.
⁽⁵⁾	Ratio of gross expenses to average net assets excluding interest expense and dividend expense ⁽³⁾		2.79	%		2.61	%		2.97	%		2.32	%		2.10	%
⁽⁶⁾	Ratio of net expenses to average net assets excluding interest expense and dividend expense ⁽³⁾		2.00	%		2.00	%		2.00	%		2.00	%		2.00	%
⁽⁷⁾	Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements by the adviser.
⁽⁸⁾	Does not include the expenses of the underlying investment companies in which the Fund invests.
⁽⁹⁾	Dollar amount rounds to less than $ 0.005.

		For the Year Ended August 31, 2026			For the Year Ended August 31, 2025			For the Year Ended August 31, 2024			For the Year Ended August 31, 2023			For the Year Ended August 31, 2022
		Institutional Class
Net asset value, beginning of year		$	15.28		$	14.52		$	13.51		$	14.81		$	15.23
Activity from investment operations:
Net investment income (loss) ^(1)(4)(7)			(0.23	)		(0.20	)		(0.09	)		0.06			(0.23	)
Net realized and unrealized gain (loss) on investments			0.66			0.96			1.21			(0.34	)		(0.19	)
Total from investment operations			0.43			0.76			1.12			(0.28	)		(0.42	)

Less distributions:
From net investment income			-			-			(0.01	)		(0.07	)		-
From net realized gains			-			-			-			(0.75	)		-
From return of capital			-			-			(0.10	)		(0.20	)		-
Total distributions			-			-			(0.11	)		(1.02	)		-

Paid-in capital from redemption fees ⁽¹⁾			-			-			-			-			-

Net asset value, end of year		$	15.71		$	15.28		$	14.52		$	13.51		$	14.81

Total return ⁽²⁾			2.81	%		5.23	%		8.37	%		(1.61	)%		(2.76	)%

Net assets, end of year (000s)		$	30,125		$	43,564		$	84,179		$	123,380		$	162,410

Ratio of gross expenses to average net assets including interest and dividend expense ⁽³⁾⁽⁵⁾			2.30	%		2.24	%		2.20	%		2.10	%		2.10	%
Ratio of net expenses to average net assets including interest and dividend expense ⁽³⁾⁽⁶⁾			2.25	%		2.24	%		2.20	%		2.10	%		2.10	%
Ratio of net investment income (loss) to average net assets ⁽³⁾⁽⁴⁾			(1.44	)%		(1.36	)%		(0.67	)%		0.46	%		(1.52	)%
Portfolio turnover rate			0	%		0	%		0	%		0	%		0	%

⁽¹⁾	Per share amounts calculated using the average shares method, which more appropriately presents the per share data for the year.
⁽²⁾	Total returns are historical in nature and assume changes in share price, and reinvestment of dividends and capital gains distributions, if any, and exclude the effect of redemption fees.
⁽³⁾	The ratios of expenses to average net assets and net investment income (loss) to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.
⁽⁴⁾	Recognition of net investment income (loss) by the Fund is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.
⁽⁵⁾	Ratio of gross expenses to average net assets excluding interest expense and dividend expense ⁽³⁾		2.30	%		2.24	%		2.20	%		2.10	%		2.10	%
⁽⁶⁾	Ratio of net expenses to average net assets excluding interest expense and dividend expense ⁽³⁾		2.25	%		2.24	%		2.20	%		2.10	%		2.10	%
⁽⁷⁾	Does not include the expenses of the underlying investment companies in which the Fund invests.

		For the Year Ended August 31, 2026			For the Year Ended August 31, 2025			For the Year Ended August 31, 2024			For the Year Ended August 31, 2023			For the Year Ended August 31, 2022
		Advisor Class
Net asset value, beginning of year		$	15.44		$	14.63		$	13.59		$	14.90		$	15.28
Activity from investment operations:
Net investment income (loss) ^(1)(4)(7)			(0.19	)		(0.16	)		(0.05	)		0.10			(0.18	)
Net realized and unrealized gain (loss) on investments			0.66			0.97			1.21			(0.36	)		(0.20	)
Total from investment operations			0.47			0.81			1.16			(0.26	)		(0.38	)

Less distributions:
From net investment income			-			-			(0.03	)		(0.10	)		-
From net realized gains			-			-			-			(0.78	)		-
From return of capital			-			-			(0.09	)		(0.17	)		-
Total distributions			-			-			(0.12	)		(1.05	)		-

Paid-in capital from redemption fees ⁽¹⁾			-			-			-			-			-

Net asset value, end of year		$	15.91		$	15.44		$	14.63		$	13.59		$	14.90

Total return ⁽²⁾			3.04	%		5.54	%		8.63	%		(1.42	)%		(2.49	)%

Net assets, end of year (000s)		$	84,855		$	134,274		$	200,392		$	297,163		$	320,893

Ratio of gross expenses to average net assets including interest and dividend expense ⁽³⁾⁽⁵⁾			2.05	%		1.98	%		1.95	%		1.84	%		1.84	%
Ratio of net expenses to average net assets including interest and dividend expense ⁽³⁾⁽⁶⁾			2.00	%		1.98	%		1.95	%		1.84	%		1.84	%
Ratio of net investment income (loss) to average net assets ⁽³⁾⁽⁴⁾			(1.18	)%		(1.12	)%		(0.36	)%		0.75	%		(1.21	)%
Portfolio turnover rate			0	%		0	%		0	%		0	%		0	%

⁽¹⁾	Per share amounts calculated using the average shares method, which more appropriately presents the per share data for the year.
⁽²⁾	Total returns are historical in nature and assume changes in share price, and reinvestment of dividends and capital gains distributions, if any.
⁽³⁾	The ratios of expenses to average net assets and net investment income (loss) to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.
⁽⁴⁾	Recognition of net investment income (loss) by the Fund is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.
⁽⁵⁾	Ratio of gross expenses to average net assets excluding interest expense and dividend expense ⁽³⁾		2.05	%		1.98	%		1.95	%		1.84	%		1.84	%
⁽⁶⁾	Ratio of net expenses to average net assets excluding interest expense and dividend expense ⁽³⁾		2.00	%		1.98	%		1.95	%		1.84	%		1.84	%
⁽⁷⁾	Does not include the expenses of the underlying investment companies in which the Fund invests.

Income Fund
Assets	Level 1		Level 2		Level 3		Total
Closed-End Funds*	$	4,280,522	$	-	$	-	$	4,280,522
Exchange-Traded Funds*		10,584,441		-		-	$	10,584,441
Total Investments	$	14,864,963	$	-	$	-	$	14,864,963

Equity Fund
Assets	Level 1		Level 2		Level 3		Total
Exchange-Traded Funds	$	108,230,250	$	-	$	-	$	108,230,250
Money Market Fund		1,075,744		-		-		1,075,744
Total Investments	$	109,305,994	$	-	$	-	$	109,305,994

Fund	Statements of Operations: Net Change in Unrealized Depreciation on Futures Contracts #			Statements of Operations: Realized Loss from Futures Contracts #
Income Fund	$	(59,279	)	$	(1,453,811	)
Equity Fund		(56,380	)		(21,684,365	)

	Expires August 31, 2027		Expires August 31, 2028		Expires August 31, 2029
Income Fund	$	182,580	$	164,333	$	188,460
Equity Fund		-		-		77,443

Fund	Tax Cost		Gross Unrealized Appreciation		Gross Unrealized Depreciation			Net Unrealized Appreciation
Income Fund	$	13,693,729	$	3,860,160	$	(2,688,926	)	$	1,171,234
Equity Fund		38,409,906		70,896,088		-			70,896,088

	Ordinary Income		Long-Term Capital Gains		Return of Capital		Total
Anchor Risk Managed Income Strategies Fund	$	1,368,530	$	-	$	916,148	$	2,284,678
Anchor Risk Managed Equity Strategies Fund		-		-		-		-

	Post October Loss and Late Year Loss			Capital Loss Carry Forwards			Other Book/Tax Differences			Unrealized Appreciation (Depreciation)		Total Accumulated Earnings/ (Deficits)
Anchor Risk Managed Income Strategies Fund	$	(1,184,403	)	$	(6,239,776	)	$	(677	)	$	1,171,234	$	(6,253,622	)
Anchor Risk Managed Equity Strategies Fund		(1,323,720	)		(7,305,491	)		-			70,896,088		62,266,877

	Late Year Losses
Anchor Risk Managed Income Strategies Fund	$	-
Anchor Risk Managed Equity Strategies Fund		1,323,720

	Post October Losses
Anchor Risk Managed Income Strategies Fund	$	1,184,403
Anchor Risk Managed Equity Strategies Fund		-

	Short-Term		Long-Term		Total		Capital Loss Carry Forward Utilized
Anchor Risk Managed Income Strategies Fund	$	4,389,647	$	1,850,129	$	6,239,776	$	-
Anchor Risk Managed Equity Strategies Fund		7,305,491		-		7,305,491		33,487,697

	Paid In Capital			Accumulated Earnings
Anchor Risk Managed Income Strategies Fund	$	(1,035,031	)	$	1,035,031
Anchor Risk Managed Equity Strategies Fund		(2,452,924	)		2,452,924

Fund	Investment Company	Percentage of Net Assets
Equity Fund	Invesco QQQ Trust Series 1	56.1%
	State Street SPDR S&P 500 ETF Trust	38.0%

(Registrant)	Northern Lights Fund Trust IV

By (Signature and Title)	/s/ Wendy Wang
	Wendy Wang, President

By (Signature and Title)	/s/ Wendy Wang
	Wendy Wang, Principal Executive Officer/President

By (Signature and Title)	/s/ Sam Singh
	Sam Singh, Principal Financial Officer/Treasurer