# Portfolio overlap — PBYMX vs MESHX Comparing **Victory AMT-Free Municipal Fund** (2026-03-31) and **AMG GW&K Municipal Enhanced SMA Shares** (2026-03-31). - Shared positions: 10 - Victory AMT-Free Municipal Fund covered by AMG GW&K Municipal Enhanced SMA Shares: 0.07611213820410449352535580459 - AMG GW&K Municipal Enhanced SMA Shares covered by Victory AMT-Free Municipal Fund: 0.07611213820410449352535580459 ## Victory AMT-Free Municipal Fund — top positions | Security | Weight | Shared | |----------|--------|--------| | PUERTO RICO SALES TAX FING COR REGD OID B/E 5.00000000 | 0.044348 | | | NYC WTR VAR 6/15/2033 | 0.034067 | | | Jefferson (County of), AL, Series 2024, Ref. Revenue Wts. | 0.029425 | ✓ | | State of Florida Department of Transportation Turnpike System, Series C | 0.029212 | | | University of Nebraska Facilities Corp/The | 0.026230 | | | Utah State University | 0.024899 | | | State of Ohio, Series A | 0.021577 | | | City of Chicago, Series A | 0.021163 | | | VIRGINIA TOBACCO SENIOR-SER B1 | 0.020952 | | | NEW YORK NY REGD V/R B/E 2.65000000 | 0.019757 | | | County of Miami-Dade FL Water & Sewer System Revenue | 0.019132 | | | GOLDEN ST TOBACCO SECURITIZATI REGD ZCP OID B/E 0.00000000 | 0.018888 | | | FAYETTEVILLE SD#1 | 0.018218 | | | PENNSYLVANIA TURNPIKE COMMISSION OIL FRANCHISE TAX REVENUE (TOBS) | 0.017729 | | | NY DORM AUTH | 0.016203 | | | Loudoun (County of), VA Economic Development Authority (Howard Hughes Medical Institute, Inc), Series 2022, Ref. RB | 0.015998 | | | LIFESPACE COMMUNITIES INC OBLIGATED GROUP 5.125% 05-15-59 | 0.015125 | | | Montgomery County Higher Education and Health Authority | 0.014217 | | | TEXAS CHILDREN'S HOSPITAL OBLIGATED GROUP 3.0% 10-01-51 | 0.014155 | | | New York Liberty Development Corp | 0.013416 | | | NY TRANS FIN AUTH-E | 0.013408 | | | Indianapolis Local Public Improvement Bond Bank, Series 2025, Ref. RB | 0.013022 | | | Development Authority of Burke County (The), Series 2009-1 | 0.012842 | | | CEDARS-SINAI MEDICAL CENTER OBLIGATED GROUP 3.0% 08-15-51 | 0.012705 | | | New Hampshire Health and Education Facilities Authority Act | 0.012595 | | | Tender Option Bond Trust Receipts/Certificates | 0.012086 | | | GREATER TEXAS CULTURAL EDU FACS FIN CORP | 0.012074 | | | Hillsborough County Industrial Development Authority | 0.011780 | | | MASSACHUSETTS ST DEV FIN AGY | 0.011480 | | | MASS DEVEL FIN(BOSTON MED CTR) 5.25% 7/1/52 | 0.011150 | ✓ | | Virginia College Building Authority, Series 2021C | 0.010766 | | | ILLINOIS FIN AUTH LEASE REVENUE | 0.010488 | | | OH BUCGEN 5 06/01/2055 | 0.010353 | | | TOBACCO SETTLEMENT FING CORP R TOBGEN 06/52 ZEROCPNOID 0 | 0.010195 | | | Brevard (County of), FL Health Facilities Authority (Health First Obligated Group), Series 2022 A, Ref. RB | 0.010078 | | | Delaware (County of), PA Industrial Development Authority (Mercy Health Corp. of Southeastern PA), Series 2016 A, RB | 0.009074 | | | VIRGI VA 928103 5.50% 12/1/2054 | 0.009051 | | | State of Florida Department of Transportation Turnpike System, Series 2024B | 0.008968 | | | NORTH CAROLINA ST MED CARE COM REGD B/E 5.25000000 | 0.008947 | | | Tarrant County Cultural Education Facilities Finance Corp. (Cook Children's Medical Center), Series 2020, Ref. RB | 0.008862 | | | Colorado Health Facilities Authority | 0.008794 | | | MASSACHUSETTS ST DEV FIN AGY R MASDEV 07/55 FIXED OID 5.25 | 0.008561 | ✓ | | COVENANT LIVING COMMUNITIES AND SERVICES OBLIGATED GROUP 5.125% 12-01-55 | 0.008411 | ✓ | | City of Salt Lake City UT Airport Revenue | 0.008065 | | | DOWNTWN PUB INFRA-A | 0.007976 | | | ALLENTOWN PA CO 5% 7/1/2059 144A | 0.007719 | | | DEVELOPMENT AUTHORITY OF APPLING COUNTY | 0.007599 | | | EP ESSENTIAL HSG | 0.007536 | | | Union County, North Carolina, Enterprise System Revenue Bonds, Series 2021 | 0.007340 | | | PUBLIC FIN AUTH WI REVENUE REGD B/E 5.25000000 | 0.007302 | ✓ | ## AMG GW&K Municipal Enhanced SMA Shares — top positions | Security | Weight | Shared | |----------|--------|--------| | FIXED INC CLEARING CORP.REPO | 0.058821 | | | WI PUBTRN 5.75 12/31/2065 | 0.026293 | | | Jefferson (County of), AL, Series 2024, Ref. Revenue Wts. | 0.026164 | ✓ | | TX PABSTC 5% 6/30/2058@ | 0.024947 | | | RI HLTH & EDUCTNL BLD | 0.022372 | | | PENNSYLVANIA ST HGR EDUCTNL FACS AUTH REVENUE | 0.020327 | | | MASS DEVEL FIN(BOSTON MED CTR) 5.25% 7/1/52 | 0.019013 | ✓ | | HOUSTON TX HOTEL OCCUPANCY TAX & SPL REVENUE | 0.018241 | | | SUFFOLK UNIVERSITY 5.25% 07-01-55 | 0.017685 | | | PENNSYLVANIA ST ECON DEV FING REGD OID B/E AMT AG 5.00000000 | 0.017460 | | | Wisconsin (State of) Public Finance Authority (Miami Worldcenter), Series 2024 A, RB | 0.016976 | | | ILLINOIS ST REGD B/E 5.50000000 | 0.016531 | | | MET TRANSPRTN-C-1 | 0.015596 | | | ORANGE HLTH FACS-A | 0.015517 | | | COLUMBUS REGL ARPT-A | 0.013369 | | | RI HLTH & EDL -A | 0.012270 | | | XAVIER UNIVERSITY 5.25% 05-01-54 | 0.012181 | | | NY TRANSPRTN DEV CORP | 0.012016 | | | NY TRANSPRTN DEV CORP | 0.011120 | | | PENNSYLVANIA ST ECON DEV FING REGD OID B/E AMT 5.25000000 | 0.011076 | | | NOVANT HEALTH OBLIGATED GROUP 5.5% 06-01-55 | 0.010989 | | | MASSACHUSETTS ST DEV FIN AGY REVENUE | 0.010858 | | | NY TRNSPRTN DEV CRP-A | 0.010792 | | | VLG CDD #16 FL SPL ASSMNT REVE VILLAGE COMMUNITY DEVELOPMENT DISTRICT NO 16 | 0.010786 | | | OHIO ST HGR EDUCTNL FAC COMMISSION | 0.010405 | | | Palm Beach County Health Facilities Authority, Acts Retirement Life Communities, Inc., Obligated Group, Series 2025B | 0.010256 | | | Shelby County Health, Educational, Housing, and Facility Board, Tennessee, Student Housing Revenue Bonds, Madrone Memphis Student Housing, I LLC - Uni | 0.010247 | | | MO HEFA EDL 4% 6/1/53 | 0.009256 | | | Pennsylvania Turnpike Commission, Series A | 0.009243 | | | MIAMI BEACH HLTH FACS | 0.009015 | | | MIAMI DADE FL/AGM 4% 10/1/45@ | 0.008819 | | | CHATTANOOGA TN HLTH EDUCTNL & HSG FAC BRD | 0.008764 | | | North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Senior Lien Series 2024A | 0.008369 | | | MASSACHUSET REV 6% 10/1/2049 | 0.008036 | | | VIRGINIA SMALL BUSINESS FING A VASDEV 12/52 FIXED 5 | 0.007930 | | | MASSACHUSETTS ST DEV FIN AGY REVENUE | 0.007896 | | | VIRGINIA SMALL BUSINESS FING A VIRGINIA SMALL BUSINESS FINANCING AUTHORITY | 0.007856 | | | ID HLTH FACS AUTH-A | 0.007856 | | | South Jersey Transportation Authority, Series 2022 A, RB | 0.007821 | | | MI MISHSG 5.05 06/01/2051 | 0.007760 | | | UNITED AIRLINES INC 5.5% 07-15-37 | 0.007664 | | | FLORIDA DEV FIN CORP HLTHCAREF REGD B/E 5.25000000 | 0.007604 | | | MASSACHUSETTS ST DEV FIN AGY R MASDEV 07/50 FIXED OID 5.25 | 0.007549 | | | MASSACHUSETTS ST DEV FIN AGY REVENUE | 0.007537 | | | CTR TX RMA 4% 1/1/2051 | 0.007518 | | | VIRGINIA ST SMALL BUSINESS FIN VIRGINIA SMALL BUSINESS FINANCING AUTHORITY | 0.007497 | | | CENTRL PLAINS ENERGY PROJ NE G CENTRAL PLAINS ENERGY PROJECT | 0.007463 | | | UNITED AIRLINES INC 5.5% 07-15-39 | 0.007251 | | | Jefferson (County of), AL, Series 2024, Ref. Revenue Wts. | 0.007109 | | | Public Authority for Colorado Energy, Series 2008, RB | 0.006806 | | ## Sources - N-PORT (fund A) — accession `0001004726-26-004390` (as of 2026-03-31) - N-PORT (fund B) — accession `0000940400-26-022975` (as of 2026-03-31) --- _Informational only — not investment advice. FundWatcher presents publicly available data and makes no recommendation to buy or sell any security. Verify all figures against the source filing before relying on them._ _Data sourced from U.S. SEC EDGAR filings (Forms N-PORT, N-CEN, and prospectus Risk/Return summaries). FundWatcher is not affiliated with the SEC._ _Use of this data is subject to the FundWatcher Terms of Service. Information may be used only for personal, non-commercial research and may not be redistributed. See _