Verizon Master Trust
07/23/2026 | Press release | Distributed by Public on 07/23/2026 04:06
Asset-Backed Issuer Distribution Report (Form 10-D)
Verizon Master Trust (VZMT) Monthly Investor Report : Pool Balance Summary
|
Group Name |
Collection Period Beginning |
Collection Period End |
Previous Payment Date |
Payment Date |
Days in Collection Period |
Days in Interest Period |
Group Status at End of Previous Payment Date |
|||||||
|
One |
06/01/2026 | 06/30/2026 | 06/22/2026 | 07/20/2026 | 30 | 28 | Revolving |
Reconciliation of Pool Balance and Pool Information
|
Beginning of Collection Period Pool Balance |
$ | 27,490,352,739.46 | ||
|
LESS: Collections (including prepayments, credit and upgrade payments) |
$ | 1,461,349,612.80 | ||
|
LESS: Reconveyance Amount |
$ | 45,760,117.37 | ||
|
LESS: Written-Off Receivables |
$ | 67,460,896.25 | ||
|
ADD: addition of Receivables |
$ | 1,275,204,095.00 | ||
|
LESS: Redesignated Receivables (Outgoing) / transferred out |
$ | 0.00 | ||
|
ADD: Redesignated Receivables (Incoming) |
$ | 0.00 | ||
|
End of Collection Period Pool Balance |
$ | 27,190,986,208.04 | ||
|
Consumer Pool Balance |
$ | 24,060,798,692.89 | ||
|
Business Pool Balance |
$ | 3,130,187,515.15 |
Write Offs Receivables in Collection Period
|
# of Receivables |
Written-Off Balance |
% of Beginning Pool Balance |
||||||||||
|
Current Collection Period |
149,082 | $ | 67,460,896.25 | 0.25 | % | |||||||
|
1st Preceding Collection Period |
0.21 | % | ||||||||||
|
2nd Preceding Collection Period |
0.26 | % | ||||||||||
|
Sum of the three above multiplied by four |
2.85 | % | ||||||||||
Delinquent Receivables in Collection Period
|
# of Receivables |
Delinquent Balances |
% of End of Pool Balance |
||||||||||
|
1 - 30 Days Delinquent |
3,997,949 | $ | 2,028,795,032.29 | 7.46 | % | |||||||
|
31 - 60 Days Delinquent |
455,312 | $ | 219,697,912.20 | 0.81 | % | |||||||
|
61 - 90 Days Delinquent |
160,099 | $ | 74,371,429.39 | 0.27 | % | |||||||
|
91 - 120 Days Delinquent |
137,990 | $ | 63,305,995.92 | 0.23 | % | |||||||
|
Over 120 Days Delinquent |
177,371 | $ | 81,115,161.92 | 0.30 | % | |||||||
|
Total Delinquent Receivables |
4,928,721 | $ | 2,467,285,531.72 | 9.07 | % | |||||||
Ratio of aggregate Principal Balance of Receivables 91+ days delinquent
|
Current Collection Period |
0.53 | % | ||
|
1st Preceding Collection Period |
0.53 | % | ||
|
2nd Preceding Collection Period |
0.51 | % | ||
|
Three Month Average |
0.52 | % |
Assets Representation Review: Aggregate Principal Balance of 60-Day Delinquent Receivables
|
Current Period |
0.82 | % | ||
|
Delinquency Trigger |
5.00 | % |
Available Funds
|
+ Collections |
$ | 1,304,572,458.34 | ||
|
+ Prepayments |
$ | 117,790,716.04 | ||
|
+ Reconveyance Amounts |
$ | 40,429,545.99 | ||
|
+ Credit Payments |
$ | 27,175,708.15 | ||
|
+ Upgrade Prepayments |
$ | 11,810,730.27 | ||
|
+ Parent Support Provider Payments |
$ | 0.00 | ||
|
+ Excess sale proceeds |
$ | 0.00 | ||
|
- Receivables purchased from Depositor |
$ | 0.00 | ||
|
+ Available Subordinated Amounts |
$ | 0.00 | ||
|
Total Group Sources of Funds |
$ | 1,501,779,158.79 | ||
| Upgrades | Current Period | To Date | ||||||
|
Number of Receivables Upgraded |
28,800 | 1,500,735 | ||||||
|
Principal Balance of Receivables Upgraded |
$ | 11,810,730.27 | $ | 654,499,397.34 | ||||
|
Upgrade payments |
$ | 2,329,379.65 | $ | 158,613,633.36 | ||||
|
Failure by Marketing Agent to Make Upgrade Payments |
No | No | ||||||
Pool characteristics as of end of Collection Period
|
Number of Receivables |
54,768,281 | |||
|
Pool Balance |
$ | 27,190,986,208.04 | ||
|
Average Monthly Payment |
$ | 25.06 | ||
|
Average Principal Balance |
$ | 496.47 | ||
|
Weighted Average Remaining Term |
23.8 | |||
|
Customer Tenure* |
||||
|
0-12 Months |
11.52 | % | ||
|
60+ Months |
70.35 | % |
| * |
Customer tenure is only reported for buckets that are over 10% |
Geographic Concentration
|
Largest state |
CA / 9.86 | % | ||
|
2nd Largest State |
FL / 6.16 | % | ||
|
3rd Largest State |
NY / 5.88 | % | ||
|
Weighted Average FICO |
728 |
Page 1 of 8
Verizon Master Trust (VZMT) Monthly Investor Report: Series Allocation Summary
1. Note Balances, Required Overcollateralization, and Series Invested Amount
|
Note Balance |
Target OC |
Series Invested Amount |
||||||||||||||||||||||||||||||
| Initial Note Balance | Beginning of Period | Ending of Period |
Overcollateralization % |
Beginning of Period |
Ending of Period | Beginning of Period | Ending of Period | |||||||||||||||||||||||||
| 2023-3 | $ | 300,000,000.00 | $ | 300,000,000.00 | $ | 300,000,000.00 | 8.25 | % | $ | 26,975,476.84 | $ | 26,975,476.84 | $ | 326,975,476.84 | $ | 326,975,476.84 | ||||||||||||||||
| 2023-6 | $ | 625,000,000.00 | $ | 625,000,000.00 | $ | 625,000,000.00 | 8.25 | % | $ | 56,198,910.08 | $ | 56,198,910.08 | $ | 681,198,910.08 | $ | 681,198,910.08 | ||||||||||||||||
| 2023-7 | $ | 600,000,000.00 | $ | 600,000,000.00 | $ | 600,000,000.00 | 8.25 | % | $ | 53,950,953.68 | $ | 53,950,953.68 | $ | 653,950,953.68 | $ | 653,950,953.68 | ||||||||||||||||
| 2024-2 | $ | 750,000,000.00 | $ | 750,000,000.00 | $ | 750,000,000.00 | 8.25 | % | $ | 67,438,692.10 | $ | 67,438,692.10 | $ | 817,438,692.10 | $ | 817,438,692.10 | ||||||||||||||||
| 2024-3 | $ | 875,000,000.00 | $ | 875,000,000.00 | $ | 875,000,000.00 | 8.25 | % | $ | 78,678,474.11 | $ | 78,678,474.11 | $ | 953,678,474.11 | $ | 953,678,474.11 | ||||||||||||||||
| 2024-5 | $ | 575,000,000.00 | $ | 575,000,000.00 | $ | 575,000,000.00 | 8.25 | % | $ | 51,702,997.28 | $ | 51,702,997.28 | $ | 626,702,997.28 | $ | 626,702,997.28 | ||||||||||||||||
| 2024-6 | $ | 1,500,000,000.00 | $ | 1,500,000,000.00 | $ | 1,500,000,000.00 | 8.25 | % | $ | 134,877,384.20 | $ | 134,877,384.20 | $ | 1,634,877,384.20 | $ | 1,634,877,384.20 | ||||||||||||||||
| 2024-7 | $ | 600,000,000.00 | $ | 600,000,000.00 | $ | 600,000,000.00 | 8.25 | % | $ | 53,950,953.68 | $ | 53,950,953.68 | $ | 653,950,953.68 | $ | 653,950,953.68 | ||||||||||||||||
| 2024-8 | $ | 1,000,000,000.00 | $ | 1,000,000,000.00 | $ | 1,000,000,000.00 | 8.25 | % | $ | 89,918,256.13 | $ | 89,918,256.13 | $ | 1,089,918,256.13 | $ | 1,089,918,256.13 | ||||||||||||||||
| 2025-1 | $ | 600,000,000.00 | $ | 600,000,000.00 | $ | 600,000,000.00 | 8.25 | % | $ | 53,950,953.68 | $ | 53,950,953.68 | $ | 653,950,953.68 | $ | 653,950,953.68 | ||||||||||||||||
| 2025-2 | $ | 500,000,000.00 | $ | 500,000,000.00 | $ | 500,000,000.00 | 8.25 | % | $ | 44,959,128.07 | $ | 44,959,128.07 | $ | 544,959,128.07 | $ | 544,959,128.07 | ||||||||||||||||
| 2025-3 | $ | 1,000,000,000.00 | $ | 1,000,000,000.00 | $ | 1,000,000,000.00 | 8.25 | % | $ | 89,918,256.13 | $ | 89,918,256.13 | $ | 1,089,918,256.13 | $ | 1,089,918,256.13 | ||||||||||||||||
| 2025-4 | $ | 500,000,000.00 | $ | 500,000,000.00 | $ | 500,000,000.00 | 8.25 | % | $ | 44,959,128.07 | $ | 44,959,128.07 | $ | 544,959,128.07 | $ | 544,959,128.07 | ||||||||||||||||
| 2025-5 | $ | 600,000,000.00 | $ | 600,000,000.00 | $ | 600,000,000.00 | 8.25 | % | $ | 53,950,953.68 | $ | 53,950,953.68 | $ | 653,950,953.68 | $ | 653,950,953.68 | ||||||||||||||||
| 2025-6 | $ | 300,000,000.00 | $ | 300,000,000.00 | $ | 300,000,000.00 | 8.25 | % | $ | 26,975,476.84 | $ | 26,975,476.84 | $ | 326,975,476.84 | $ | 326,975,476.84 | ||||||||||||||||
| 2025-7 | $ | 900,000,000.00 | $ | 900,000,000.00 | $ | 900,000,000.00 | 8.25 | % | $ | 80,926,430.52 | $ | 80,926,430.52 | $ | 980,926,430.52 | $ | 980,926,430.52 | ||||||||||||||||
| 2025-8 | $ | 400,000,000.00 | $ | 400,000,000.00 | $ | 400,000,000.00 | 8.25 | % | $ | 35,967,302.45 | $ | 35,967,302.45 | $ | 435,967,302.45 | $ | 435,967,302.45 | ||||||||||||||||
| 2025-9 | $ | 800,000,000.00 | $ | 800,000,000.00 | $ | 800,000,000.00 | 8.25 | % | $ | 71,934,604.90 | $ | 71,934,604.90 | $ | 871,934,604.90 | $ | 871,934,604.90 | ||||||||||||||||
| 2025-10 | $ | 500,000,000.00 | $ | 500,000,000.00 | $ | 500,000,000.00 | 8.25 | % | $ | 44,959,128.07 | $ | 44,959,128.07 | $ | 544,959,128.07 | $ | 544,959,128.07 | ||||||||||||||||
| 2026-1 | $ | 1,650,000,000.00 | $ | 1,650,000,000.00 | $ | 1,650,000,000.00 | 8.25 | % | $ | 148,365,122.62 | $ | 148,365,122.62 | $ | 1,798,365,122.62 | $ | 1,798,365,122.62 | ||||||||||||||||
| 2026-2 | $ | 1,200,000,000.00 | $ | 0.00 | $ | 1,200,000,000.00 | 8.25 | % | $ | 0.00 | $ | 107,901,907.36 | $ | 0.00 | $ | 1,307,901,907.36 | ||||||||||||||||
| 2021-A | $ | 2,866,666,666.65 | $ | 1,224,999,999.98 | $ | 5,908,732,953.86 | 8.75 | % | $ | 117,465,753.42 | $ | 566,590,831.19 | $ | 1,342,465,753.40 | $ | 6,475,323,785.05 | ||||||||||||||||
| Total | $ | 18,641,666,666.65 | $ | 15,799,999,999.98 | 21,683,732,953.86 | $ | 1,428,024,336.55 | 1,985,051,321.68 | $ | 17,228,024,336.53 | $ | 23,668,784,275.54 | ||||||||||||||||||||
Page 2 of 8
Verizon Master Trust (VZMT) Monthly Investor Report: Series Allocation Summary
Financing Adjustment Dates (FADs)
|
FADs |
6/1/2026 | 6/21/2026 | 6/22/2026 | 6/30/2026 | Time Wgt Avg | |||||||||||||||
|
Time wgt (days in Collection Period) |
20 | 1 | 8 | 1 | ||||||||||||||||
|
Pool Balance |
$ | 27,490,352,739.46 | $ | 27,292,199,076.29 | $ | 27,231,103,415.19 | $ | 27,190,986,208.04 | $ | 27,404,635,579.84 |
2. PV of Remaining Unpaid Payments, Discount Rate, Discounted Series Invested Amounts and % Series Incremental Required Invested Amount
|
Present values of remaining unpaid |
Discount |
Discounted Series Invested Amounts |
% Series Incremental Required Invested Amount |
|||||||||||||||||||||||||||||
| 6/1/2026 | 6/30/2026 | 6/1/2026 | 6/30/2026 | 6/1/2026 | 6/30/2026 | |||||||||||||||||||||||||||
|
2023-3 |
$ | 24,672,604,075.13 | $ | 24,421,461,589.53 | 10.52 | % | $ | 364,319,346.05 | $ | 364,057,765.67 | 1.33 | % | 1.34 | % | ||||||||||||||||||
|
2023-6 |
$ | 24,520,564,890.58 | $ | 24,271,948,952.56 | 11.14 | % | $ | 763,698,910.08 | $ | 763,119,891.01 | 2.78 | % | 2.81 | % | ||||||||||||||||||
|
2023-7 |
$ | 24,440,237,441.63 | $ | 24,192,953,405.45 | 11.47 | % | $ | 735,564,032.70 | $ | 734,988,555.86 | 2.68 | % | 2.70 | % | ||||||||||||||||||
|
2024-2 |
$ | 24,647,982,122.08 | $ | 24,397,249,293.30 | 10.62 | % | $ | 911,705,722.07 | $ | 911,043,596.73 | 3.32 | % | 3.35 | % | ||||||||||||||||||
|
2024-3 |
$ | 24,525,446,491.52 | $ | 24,276,749,546.04 | 11.12 | % | $ | 1,068,968,664.85 | $ | 1,068,158,038.14 | 3.89 | % | 3.93 | % | ||||||||||||||||||
|
2024-5 |
$ | 24,606,212,830.56 | $ | 24,356,174,516.29 | 10.79 | % | $ | 700,158,855.59 | $ | 699,644,959.13 | 2.55 | % | 2.57 | % | ||||||||||||||||||
|
2024-6 |
$ | 24,811,199,636.78 | $ | 24,557,747,659.79 | 9.96 | % | $ | 1,811,411,444.15 | $ | 1,810,185,286.11 | 6.59 | % | 6.66 | % | ||||||||||||||||||
|
2024-7 |
$ | 24,766,518,774.24 | $ | 24,513,811,996.64 | 10.14 | % | $ | 725,872,479.57 | $ | 725,368,937.33 | 2.64 | % | 2.67 | % | ||||||||||||||||||
|
2024-8 |
$ | 24,702,201,176.64 | $ | 24,450,566,005.59 | 10.40 | % | $ | 1,212,937,329.70 | $ | 1,212,076,294.28 | 4.41 | % | 4.46 | % | ||||||||||||||||||
|
2025-1 |
$ | 24,677,533,077.13 | $ | 24,426,308,560.48 | 10.50 | % | $ | 728,488,283.38 | $ | 727,965,122.62 | 2.65 | % | 2.68 | % | ||||||||||||||||||
|
2025-2 |
$ | 24,620,942,292.79 | $ | 24,370,659,128.82 | 10.73 | % | $ | 608,468,664.86 | $ | 608,027,247.96 | 2.21 | % | 2.24 | % | ||||||||||||||||||
|
2025-3 |
$ | 24,712,079,202.64 | $ | 24,460,279,536.59 | 10.36 | % | $ | 1,212,457,765.67 | $ | 1,211,596,730.24 | 4.41 | % | 4.46 | % | ||||||||||||||||||
|
2025-4 |
$ | 24,665,213,455.55 | $ | 24,414,193,954.17 | 10.55 | % | $ | 607,378,746.60 | $ | 606,942,779.30 | 2.21 | % | 2.23 | % | ||||||||||||||||||
|
2025-5 |
$ | 24,751,653,061.04 | $ | 24,499,194,079.07 | 10.20 | % | $ | 726,310,626.70 | $ | 725,800,544.96 | 2.64 | % | 2.67 | % | ||||||||||||||||||
|
2025-6 |
$ | 24,697,264,476.15 | $ | 24,445,711,502.60 | 10.42 | % | $ | 363,953,133.52 | $ | 363,694,822.89 | 1.32 | % | 1.34 | % | ||||||||||||||||||
|
2025-7 |
$ | 24,714,549,673.13 | $ | 24,462,708,862.47 | 10.35 | % | $ | 1,091,094,277.93 | $ | 1,090,329,155.32 | 3.97 | % | 4.01 | % | ||||||||||||||||||
|
2025-8 |
$ | 24,665,213,455.55 | $ | 24,414,193,954.17 | 10.55 | % | $ | 485,902,997.27 | $ | 485,554,223.43 | 1.77 | % | 1.79 | % | ||||||||||||||||||
|
2025-9 |
$ | 24,848,529,862.44 | $ | 24,594,454,802.93 | 9.81 | % | $ | 964,638,692.09 | $ | 963,984,741.14 | 3.51 | % | 3.55 | % | ||||||||||||||||||
|
2025-10 |
$ | 24,786,361,417.15 | $ | 24,533,323,775.84 | 10.06 | % | $ | 604,408,719.35 | $ | 603,994,550.41 | 2.20 | % | 2.22 | % | ||||||||||||||||||
|
2026-1 |
$ | 24,863,486,494.75 | $ | 24,609,161,670.42 | 9.75 | % | $ | 1,988,362,397.82 | $ | 1,987,031,607.63 | 7.23 | % | 7.31 | % | ||||||||||||||||||
|
2026-2 |
$ | 0.00 | $ | 24,477,292,745.66 | 10.29 | % | $ | 0.00 | $ | 1,452,908,991.83 | 0.00 | % | 5.34 | % | ||||||||||||||||||
|
2021-A |
$ | 24,603,759,259.31 | $ | 24,353,761,724.41 | 10.80 | % | $ | 1,499,963,835.59 | $ | 7,229,699,006.01 | 5.46 | % | 26.59 | % | ||||||||||||||||||
| Total | $ | 19,176,064,925.54 | $ | 26,346,172,848.00 | ||||||||||||||||||||||||||||
Page 3 of 8
Verizon Master Trust (VZMT) Monthly Investor Report: Series Allocation Summary
| 6/1/2026 | 6/21/2026 | 6/22/2026 | 6/30/2026 | |||||||||||||
|
Excess Concentration Amounts for Term Series |
$ | 481,363,223.24 | $ | 499,255,018.06 | $ | 493,888,788.24 | $ | 509,005,545.81 | ||||||||
|
Excess Concentration Amounts for VFN Series |
$ | 113,892,861.67 | $ | 114,751,910.90 | $ | 110,410,799.47 | $ | 112,475,192.79 | ||||||||
3. Ineligible Amounts, Excess Concentration Amounts, Series Incremental Required Invested Amount, and Adjusted Series Invested Amounts & Allocation
| Ineligible Amounts | Excess Concentration Amounts | Series Incremental Required Invested Amount | Adjusted Series Invested Amounts | |||||||||||||||||||||||||||||
| Series | 6/1/2026 | 6/30/2026 | 6/1/2026 | 6/30/2026 | 6/1/2026 | 6/30/2026 | 6/1/2026 | 6/30/2026 | ||||||||||||||||||||||||
| 2023-3 | $ | 0.00 | $ | 0.00 | $ | 481,363,223.24 | $ | 509,005,545.81 | $ | 6,402,130.87 | $ | 6,820,674.31 | 370,721,476.92 | 370,878,439.98 | ||||||||||||||||||
| 2023-6 | $ | 0.00 | $ | 0.00 | $ | 481,363,223.24 | $ | 509,005,545.81 | $ | 13,381,897.61 | $ | 14,303,055.84 | 777,080,807.69 | 777,422,946.85 | ||||||||||||||||||
| 2023-7 | $ | 0.00 | $ | 0.00 | $ | 481,363,223.24 | $ | 509,005,545.81 | $ | 12,900,534.38 | $ | 13,743,149.74 | 748,464,567.08 | 748,731,705.60 | ||||||||||||||||||
| 2024-2 | $ | 0.00 | $ | 0.00 | $ | 481,363,223.24 | $ | 509,005,545.81 | $ | 15,981,259.01 | $ | 17,051,685.78 | 927,686,981.08 | 928,095,282.51 | ||||||||||||||||||
| 2024-3 | $ | 0.00 | $ | 0.00 | $ | 481,363,223.24 | $ | 509,005,545.81 | $ | 18,725,029.38 | $ | 20,003,917.95 | 1,087,693,694.23 | 1,088,161,956.09 | ||||||||||||||||||
| 2024-5 | $ | 0.00 | $ | 0.00 | $ | 481,363,223.24 | $ | 509,005,545.81 | $ | 12,274,762.19 | $ | 13,081,442.53 | 712,433,617.78 | 712,726,401.66 | ||||||||||||||||||
| 2024-6 | $ | 0.00 | $ | 0.00 | $ | 481,363,223.24 | $ | 509,005,545.81 | $ | 31,721,836.41 | $ | 33,899,769.35 | 1,843,133,280.56 | 1,844,085,055.46 | ||||||||||||||||||
| 2024-7 | $ | 0.00 | $ | 0.00 | $ | 481,363,223.24 | $ | 509,005,545.81 | $ | 12,707,989.09 | $ | 13,590,448.07 | 738,580,468.66 | 738,959,385.40 | ||||||||||||||||||
| 2024-8 | $ | 0.00 | $ | 0.00 | $ | 481,363,223.24 | $ | 509,005,545.81 | $ | 21,228,118.14 | $ | 22,701,647.34 | 1,234,165,447.84 | 1,234,777,941.62 | ||||||||||||||||||
| 2025-1 | $ | 0.00 | $ | 0.00 | $ | 481,363,223.24 | $ | 509,005,545.81 | $ | 12,756,125.42 | $ | 13,641,348.63 | 741,244,408.80 | 741,606,471.25 | ||||||||||||||||||
| 2025-2 | $ | 0.00 | $ | 0.00 | $ | 481,363,223.24 | $ | 509,005,545.81 | $ | 10,638,127.23 | $ | 11,401,724.23 | 619,106,792.09 | 619,428,972.19 | ||||||||||||||||||
| 2025-3 | $ | 0.00 | $ | 0.00 | $ | 481,363,223.24 | $ | 509,005,545.81 | $ | 21,228,118.14 | $ | 22,701,647.34 | 1,233,685,883.81 | 1,234,298,377.58 | ||||||||||||||||||
| 2025-4 | $ | 0.00 | $ | 0.00 | $ | 481,363,223.24 | $ | 509,005,545.81 | $ | 10,638,127.23 | $ | 11,350,823.67 | 618,016,873.83 | 618,293,602.97 | ||||||||||||||||||
| 2025-5 | $ | 0.00 | $ | 0.00 | $ | 481,363,223.24 | $ | 509,005,545.81 | $ | 12,707,989.09 | $ | 13,590,448.07 | 739,018,615.79 | 739,390,993.03 | ||||||||||||||||||
| 2025-6 | $ | 0.00 | $ | 0.00 | $ | 481,363,223.24 | $ | 509,005,545.81 | $ | 6,353,994.55 | $ | 6,820,674.31 | 370,307,128.07 | 370,515,497.20 | ||||||||||||||||||
| 2025-7 | $ | 0.00 | $ | 0.00 | $ | 481,363,223.24 | $ | 509,005,545.81 | $ | 19,110,119.96 | $ | 20,411,122.39 | 1,110,204,397.89 | 1,110,740,277.71 | ||||||||||||||||||
| 2025-8 | $ | 0.00 | $ | 0.00 | $ | 481,363,223.24 | $ | 509,005,545.81 | $ | 8,520,129.05 | $ | 9,111,199.27 | 494,423,126.32 | 494,665,422.70 | ||||||||||||||||||
| 2025-9 | $ | 0.00 | $ | 0.00 | $ | 481,363,223.24 | $ | 509,005,545.81 | $ | 16,895,849.14 | $ | 18,069,696.88 | 981,534,541.23 | 982,054,438.02 | ||||||||||||||||||
| 2025-10 | $ | 0.00 | $ | 0.00 | $ | 481,363,223.24 | $ | 509,005,545.81 | $ | 10,589,990.91 | $ | 11,299,923.12 | 614,998,710.26 | 615,294,473.53 | ||||||||||||||||||
| 2026-1 | $ | 0.00 | $ | 0.00 | $ | 481,363,223.24 | $ | 509,005,545.81 | $ | 34,802,561.04 | $ | 37,208,305.40 | 2,023,164,958.86 | 2,024,239,913.03 | ||||||||||||||||||
| 2026-2 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 509,005,545.81 | $ | 0.00 | $ | 27,180,896.15 | 0.00 | 1,480,089,887.98 | ||||||||||||||||||
| 2021-A | $ | 0.00 | $ | 0.00 | $ | 113,892,861.67 | $ | 112,475,192.79 | $ | 6,218,550.25 | $ | 29,907,153.76 | 1,506,182,385.84 | 7,259,606,159.77 | ||||||||||||||||||
| Total | 19,491,848,164.63 | 26,734,063,602.13 | ||||||||||||||||||||||||||||||
Page 4 of 8
Verizon Master Trust (VZMT) Monthly Investor Report: Series Allocation Summary
4. Max (Avg Adj. Series Invested, End of Period) & Allocation %, Series
Pool Balance, and Available Fund Allocation to Series
|
Max (Time Weighted Average Invested, End of Period) |
Series Allocated Pool Balance |
Available Funds Allocation to Series |
||||||||||||||
| Series | Amounts | Allocation% | Amounts | Amounts | ||||||||||||
| 2023-3 | $ | 370,743,952.04 | 1.35 | % | $ | 330,385,743.11 | $ | 20,316,819.35 | ||||||||
| 2023-6 | $ | 777,126,639.78 | 2.84 | % | $ | 688,291,792.42 | $ | 42,586,702.50 | ||||||||
| 2023-7 | $ | 748,502,561.82 | 2.73 | % | $ | 660,782,136.36 | $ | 41,018,094.16 | ||||||||
| 2024-2 | $ | 927,753,142.93 | 3.39 | % | $ | 825,942,037.85 | $ | 50,841,081.46 | ||||||||
| 2024-3 | $ | 1,087,760,389.58 | 3.97 | % | $ | 963,607,309.03 | $ | 59,609,519.44 | ||||||||
| 2024-5 | $ | 712,477,340.78 | 2.60 | % | $ | 633,221,567.54 | $ | 39,043,855.28 | ||||||||
| 2024-6 | $ | 1,843,283,400.57 | 6.73 | % | $ | 1,651,795,855.77 | $ | 101,012,219.24 | ||||||||
| 2024-7 | $ | 738,634,050.03 | 2.70 | % | $ | 660,718,323.36 | $ | 40,477,303.49 | ||||||||
| 2024-8 | $ | 1,234,259,465.06 | 4.50 | % | $ | 1,101,211,926.93 | $ | 67,637,580.29 | ||||||||
| 2025-1 | $ | 741,295,642.17 | 2.71 | % | $ | 660,731,646.56 | $ | 40,623,126.25 | ||||||||
| 2025-2 | $ | 619,153,544.20 | 2.26 | % | $ | 550,606,301.70 | $ | 33,929,696.53 | ||||||||
| 2025-3 | $ | 1,233,779,537.73 | 4.50 | % | $ | 1,101,221,352.96 | $ | 67,611,299.15 | ||||||||
| 2025-4 | $ | 618,060,628.38 | 2.26 | % | $ | 550,615,757.67 | $ | 33,869,775.55 | ||||||||
| 2025-5 | $ | 739,084,931.56 | 2.70 | % | $ | 660,726,114.88 | $ | 40,501,932.67 | ||||||||
| 2025-6 | $ | 370,346,738.55 | 1.35 | % | $ | 330,359,345.25 | $ | 20,295,043.55 | ||||||||
| 2025-7 | $ | 1,110,296,923.81 | 4.05 | % | $ | 991,104,203.29 | $ | 60,844,432.44 | ||||||||
| 2025-8 | $ | 494,451,336.41 | 1.80 | % | $ | 440,495,535.84 | $ | 27,096,000.65 | ||||||||
| 2025-9 | $ | 981,614,300.17 | 3.58 | % | $ | 880,956,154.92 | $ | 53,792,678.22 | ||||||||
| 2025-10 | $ | 615,047,428.60 | 2.24 | % | $ | 550,606,292.17 | $ | 33,704,730.02 | ||||||||
| 2026-1 | $ | 2,023,341,338.62 | 7.38 | % | $ | 1,816,946,085.37 | $ | 110,879,509.03 | ||||||||
| 2026-2 | $ | 1,480,089,887.98 | 5.40 | % | $ | 1,321,986,760.71 | $ | 81,109,140.05 | ||||||||
| 2021-A | $ | 3,232,572,620.83 | 11.80 | % | $ | 2,872,699,107.10 | $ | 177,145,514.41 | ||||||||
|
Transferor's Percentage |
17.17 | % | $ | 4,668,287,186.23 | $ | 257,833,105.05 | ||||||||||
| Total | 24,913,298,537.02 | $ | 1,501,779,158.79 | |||||||||||||
|
Transferor's Allocation (before fees) |
$ | 257,833,105.05 | ||
|
- Master Collateral Agent Fee |
$ | 286.14 | ||
|
- Owner Trustee Fee |
$ | 858.48 | ||
|
- Asset Representations Reviewer Fee |
$ | 0.00 | ||
|
Transferor's Allocation (after fees) |
$ | 257,831,960.43 |
Principal Funding Account(s) (PFAs)
|
Aggregate Beginning of Period PFAs Limit |
$ | 7,287,500,000.00 | ||
|
Aggregate Ending of Period PFAs Limit |
$ | 7,887,500,000.00 | ||
|
Aggregate Beginning of Period PFAs Balance |
$ | 0.00 | ||
|
Add: Aggregate deposit(s) to PFAs |
$ | 0.00 | ||
|
Aggregate end of period PFAs |
$ | 0.00 | ||
|
Group One Required Pool Balance* |
$ | 26,734,063,602.13 | ||
|
Pool Balance Deficit** |
$ | 0.00 |
| * |
(Sum of all Adjusted Series Invested Amounts less Min of (i) Sum of Series PFA Accounts or (ii) Sum of Series PFA Limits) |
| ** |
Max(0, Required Pool Balance - Pool Balance) |
Page 5 of 8
Amortization Event Tests for following VZMT Series:
VZMT Public Series: 2023-7, 2024-3, 2024-6, 2024-8, 2025-1, 2025-3, 2025-5, 2025-7, 2025-9, 2026-1 and 2026-2
| In Compliance? | ||||
| Delinquency and Write-Offs | ||||
|
For any Payment Date, the sum of the fractions, expressed as percentages, for each of the three (3) Collection Periods immediately preceding that Payment Date, calculated by dividing the aggregate Principal Balance of all Receivables that are ninety-one (91) days or more delinquent at the end of each of the three (3) prior Collection Periods by the Pool Balance as of the last day of each of those Collection Periods, divided by three (3), exceeds 2% |
Yes | |||
|
For any Payment Date, the sum of the fractions, expressed as percentages, for each of the three (3) Collection Periods immediately preceding that Payment Date, calculated by dividing the aggregate Principal Balance of all Receivables which became Written-Off Receivables during each of the three (3) prior Collection Periods by the Pool Balance as of the first day of each of those Collection Periods, multiplied by four (4), exceeds 10% |
Yes | |||
|
As of any date of determination, the Discounted Series Invested Amount for a respective Series is greater than the excess of (i) the Pool Balance over (ii) the sum of (x) the Ineligible Amount for such Series and (y) the Series Excess Concentration Amount such Series. |
Yes | |||
|
Payments |
Yes | |||
|
On any Payment Date, interest due is not paid on any class of Notes |
||||
|
On the fifth Business Day after any Payment Date during the Revolving Period, after giving effect to distributions on such Payment Date, the sum of the amount on deposit in the Reserve Account plus, if a Letter of Credit has been issued for the benefit of the Notes, the amount available under the Letter of Credit, is less than the Required Reserve Amount |
Yes | |||
|
As of the Anticipated Redemption Date, the Trust has not redeemed the Notes |
||||
|
As of any Payment Date, a Pool Balance Deficit exists after giving effect to distributions on such Payment Date (including deposits to the Principal Funding Account on such Payment Date) |
Yes | |||
|
With respect to any Payment Date, the respective Series Allocated Pool Balance is less than 50.00% of (x) the aggregate Note Balance minus (y) the amount on deposit in the Principal Funding Account, in each case as of such Payment Date and with respect to that Series. |
||||
|
Servicing and Event of Default |
||||
|
A Servicer Termination Event has occurred and is continuing |
Yes | |||
|
An Event of Default has occurred and is continuing |
Yes | |||
Page 6 of 8
Excess Concentration Amount for following VZMT Series
VZMT Public Series: 2023-7, 2024-3, 2024-6, 2024-8, 2025-1, 2025-3, 2025-5*, 2025-7*, 2025-9*, 2026-1* and 2026-2*
| Actual % or Amt | Actual $ | Excess $ | ||||||||||
|
Consumer & Business, Without duplication |
||||||||||||
|
The amount by which the aggregate Principal Balance of Receivables with Obligors that have less than sixty (60) months of Customer Tenure with Verizon Wireless exceeds 45.00% of the Pool Balances |
28.54 | % | $ | 7,759,896,913.42 | $ | 0.00 | ||||||
|
The amount by which the aggregate Principal Balance of Receivables with Obligors that have less than twelve (12) months of Customer Tenure with Verizon Wireless exceeds 22.00% (20.00% for Series with *) of the Pool Balance |
10.54 | % | $ | 2,865,567,140.57 | $ | 0.00 | ||||||
|
With respect to all Receivables for which the origination date was less than thirty-one (31) days prior to the related Cutoff Date, or in the case of any determination made on a Payment Date, the last day of the related Collection Period, the product of (i) the aggregate Principal Balance of all such Receivables and (ii) 10.00% |
10.00 | % | $ | 979,166,514.59 | $ | 97,916,651.46 | ||||||
|
Consumer Only, Without duplication (If Consumer Receivable Condition is satisfied) |
||||||||||||
|
The aggregate Principal Balance of all Consumer Receivables with the lowest FICO® Scores that would need to be excluded from the calculation of the Pool Balance of all Consumer Receivables in order to cause the weighted average FICO® Score of the Consumer Obligors with respect to all Consumer Receivables (weighted based on Principal Balances) included in such calculation of the Pool Balance of all Consumer Receivables to be at least 700 (excluding any Consumer Receivables with Consumer Obligors for whom FICO® Scores are not available) |
728 | N/A | $ | 0.00 | ||||||||
|
The amount by which the aggregate Principal Balance of Consumer Receivables with Consumer Obligors for whom FICO® Scores are not available exceeds 4.50% of the Pool Balance of all Consumer Receivables |
3.75 | % | $ | 903,346,844.53 | $ | 0.00 | ||||||
|
Business Only, Without duplication |
||||||||||||
|
The amount by which the aggregate Principal Balance of Business Receivables exceeds 10.00% of the Pool Balance |
11.51 | % | $ | 3,130,187,515.15 | $ | 411,088,894.35 | ||||||
|
Total Loan for respective Series Excess Concentration Amount |
$ | 509,005,545.81 | ||||||||||
Page 7 of 8
On and as of the Payment Date to which this Monthly Investor Report related, the Servicer hereby certifies that the information in the Monthly Investor Report (for Verizon Master Trust and for each outstanding Series) is accurate in all material respects.
VZMT Public Series: 2023-7, 2024-3, 2024-6, 2024-8, 2025-1, 2025-3, 2025-5, 2025-7, 2025-9, 2026-1 and 2026-2
Cellco Partnership, as Servicer
|
By: /s/ Jon Ransegnola |
7/14/2026 | |||
| Name: Jon Ransegnola | Date: | |||
| Title: Assistant Treasurer |
| 1 |
As of the date of this Monthly Investor Report for purposes of any references to the term "delinquent" contained herein (or in the Monthly Investor Report for any outstanding Series), the Servicer considers an account to be delinquent if there are unpaid charges remaining on the account on the day after the bill's due date and calculates delinquency assuming a due date is 22 or 30 days after the end of the monthly bill cycle for consumer customers and business customers, respectively. |
Page 8 of 8
Verizon Master Trust published this content on July 23, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on July 23, 2026 at 10:06 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]