Exhibit 99.4


Monthly Investor Report: Verizon Master Trust - VZMT 2023-1

Collection Period		April 2025
Payment Date		5/20/2025
Transaction Month		28
Series Status at End of Prior Payment Date		Revolving



Offered Notes	Anticipated Redemption Date		Final Maturity Date		Issuance Note/ Note Balance		SOFR: Days in the Interest Period		Note Interest Rate		SOFR Adjustment Date		SOFR30A	Total
Class A		1/20/26		1/22/29		$891,010,000				4.49%					4.49%
Class B		1/20/26		1/22/29		$68,120,000				4.74%					4.74%
Class C		1/20/26		1/22/29		$40,870,000				4.98%					4.98%

Total						$1,000,000,000


Series Alloc% x Group One Available Funds															$68,837,096.30
Amounts paid by the Cap Counterparty															N/A
Available Subordinated Amounts															$0.00
Amounts drawn on the Reserve Account															$0.00
Amounts released from Principal Funding Account															$0.00
Any amounts deposited by the Class A Certificateholder in connection with an Optional Redemption															$0.00

Total Available Funds															$68,837,096.30


Beginning of Period Reserve Account Balance															$10,899,182.56
Required Reserve Amount															$10,899,182.56
Shortfall in Required Reserve Amount															$0.00
Reserve Account funds needed this period (True/False)															FALSE
Reserve Account draw amount required															$0.00
Reserve Account Deposit Amount															$0.00

End of Period Reserve Account Balance															$10,899,182.56


Waterfall Distribution					Amount Due		Amount Paid		Shortfall		Carryover Shortfall			Remaining Available Funds
Master Collateral Agent Fee						$74.19		$74.19		$0.00		$0.00			$68,837,022.11
Owner Trustee Fee						$0.00		$0.00		$0.00		$0.00			$68,837,022.11
Asset Representations Reviewer Fee						$38.69		$38.69		$0.00		$0.00			$68,836,983.42
Supplemental ARR Fee						$163.04		$163.04		$0.00		$0.00			$68,836,820.38
Indenture Trustee Fee						$1,250.00		$1,250.00		$0.00		$0.00			$68,835,570.38
Servicing Fee						$761,938.28		$761,938.28		$0.00		$0.00			$68,073,632.10
Class A Note Interest						$3,333,862.42		$3,333,862.42		$0.00		$0.00			$64,739,769.68
First Priority Principal Payment						$0.00		$0.00		$0.00		$0.00			$64,739,769.68
Class B Note Interest						$269,074.00		$269,074.00		$0.00		$0.00			$64,470,695.68
Second Priority Principal Payment						$0.00		$0.00		$0.00		$0.00			$64,470,695.68
Class C Note Interest						$169,610.50		$169,610.50		$0.00		$0.00			$64,301,085.18
Third Priority Principal Payment						$0.00		$0.00		$0.00		$0.00			$64,301,085.18
Reserve Account up to Required Reserve Amount						$0.00		$0.00		$0.00		$0.00			$64,301,085.18
Regular Priority Principal Payment						$0.00		$0.00		$0.00		$0.00			$64,301,085.18
Supplemental Successor Servicer Fee						$0.00		$0.00		$0.00		$0.00			$64,301,085.18
Additional Interest Amounts						$0.00		$0.00		$0.00		$0.00			$64,301,085.18
Make-Whole Payments						$0.00		$0.00		$0.00		$0.00			$64,301,085.18
Additional Fees and Expenses						$0.00		$0.00		$0.00		$0.00			$64,301,085.18
Additional Trust Expenses						$0.00		$0.00		$0.00		$0.00			$64,301,085.18
Class R Interest						$64,301,085.18		$64,301,085.18		$0.00		$0.00			$0.00

Total						$68,837,096.30		$68,837,096.30		$0.00		$0.00

Total Priority Principal Payments and Additional Interest Amounts															$0.00

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Noteholder Payments					Note Balance Payments		PFA Account Payment		Interest Payment		Add’l Interest Amount		Make-Whole Payment		Total Payment
Class A						$0.00		$0.00		$3,333,862.42		$0.00		$0.00		$3,333,862.42
Class B						$0.00		$0.00		$269,074.00		$0.00		$0.00		$269,074.00
Class C						$0.00		$0.00		$169,610.50		$0.00		$0.00		$169,610.50

Total						$0.00		$0.00		$3,772,546.92		$0.00		$0.00		$3,772,546.92


Noteholder Payments	Note Balance per $1,000 of Notes		Payment per $1,000 of Notes						As of Prior Payment Date				Current Payment Date
Noteholder Payments	Note Balance per $1,000 of Notes		Total Interest Payment		Make-Whole Payment		Total Payment		Balance		Note Pool Factor		Balance		Note Pool Factor
Class A		$1,000.00		$3.74		$0.00		$3.74		$891,010,000.00		$1.00		$891,010,000.00		$1.00
Class B		$1,000.00		$3.95		$0.00		$3.95		$68,120,000.00		$1.00		$68,120,000.00		$1.00
Class C		$1,000.00		$4.15		$0.00		$4.15		$40,870,000.00		$1.00		$40,870,000.00		$1.00

Total		$1,000.00		$3.77		$0.00		$3.77		$1,000,000,000.00		$1.00		$1,000,000,000.00		$1.00



									Beginning Period				Add: Deposit		Ending Period
Principal Funding Account Limit										$500,000,000.00						$500,000,000.00
Principal Funding Account Balance										$0.00				$0.00		$0.00

Note: Information regarding Amortization Event Tests and Excess Concentration Amounts can be found on the Verizon Master Trust report filed as Exhibit 99.1 to this Form 10-D.

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Verizon Master Trust 10-D