# EDGAR Filing Document

**Accession Number:** 0001026977
**File Stem:** 0001398344-25-022005
**Filing Date:** 2025-12
**Character Count:** 994489
**Document Hash:** d65a65d2adf868b7eeef39ed34087e0d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001398344-25-022005.hdr.sgml**: 20251205

**ACCESSION NUMBER**: 0001398344-25-022005

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 38

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251205

**DATE AS OF CHANGE**: 20251205

**EFFECTIVENESS DATE**: 20251205

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CITY NATIONAL ROCHDALE FUNDS
- **CENTRAL INDEX KEY:** 0001026977

**ORGANIZATION NAME:**
- **EIN:** 911766001
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07923
- **FILM NUMBER:** 251552749

**BUSINESS ADDRESS:**
- **STREET 1:** 400 NORTH ROXBURY DRIVE
- **CITY:** BEVERLY HILLS
- **STATE:** CA
- **ZIP:** 90210
- **BUSINESS PHONE:** (800) 708-8881

**MAIL ADDRESS:**
- **STREET 1:** 400 NORTH ROXBURY DRIVE
- **CITY:** BEVERLY HILLS
- **STATE:** CA
- **ZIP:** 90210

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** City National Rochdale Funds
- **DATE OF NAME CHANGE:** 20130910

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CNI CHARTER FUNDS
- **DATE OF NAME CHANGE:** 19990503

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BERKELEY FUNDS TRUST
- **DATE OF NAME CHANGE:** 19980319

## Series and Classes Contracts Data

### CITY NATIONAL ROCHDALE GOVERNMENT MONEY MARKET FUND (Series ID: S000005833)

| Class ID   | Class Name                                                      | Ticker Symbol   |
|:---|:---|:---|
| C000015999 | CITY NATIONAL ROCHDALE GOVERNMENT MONEY MARKET FUND - CLASS N   | CNGXX           |
| C000016000 | CITY NATIONAL ROCHDALE GOVERNMENT MONEY MARKET FUND - SERVICING | CNIXX           |
| C000016001 | CITY NATIONAL ROCHDALE GOVERNMENT MONEY MARKET FUND - CLASS S   | CNFXX           |

### CITY NATIONAL ROCHDALE U.S. CORE EQUITY FUND (Series ID: S000039066)

| Class ID   | Class Name                                                   | Ticker Symbol   |
|:---|:---|:---|
| C000120109 | CITY NATIONAL ROCHDALE U.S. CORE EQUITY FUND - CLASS N       | CNRWX           |
| C000120110 | CITY NATIONAL ROCHDALE U.S. CORE EQUITY FUND - INSTITUTIONAL | CNRUX           |
| C000120111 | CITY NATIONAL ROCHDALE U.S. CORE EQUITY FUND - SERVICING     | CNRVX           |

### City National Rochdale Fixed Income Opportunities Fund (Series ID: S000039723)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000123069 | Class N      | RIMOX           |

### City National Rochdale Municipal High Income Fund (Series ID: S000043469)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000134824 | Class N         | CNRNX           |
| C000134825 | Servicing Class | CNRMX           |

?xml version='1.0' encoding='ASCII'? Consolidated ssr-output-EDGAR XBRL File

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM N-CSR**

**CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT** 

**INVESTMENT COMPANIES**

**Investment Company Act file number 811-07923**

**City National Rochdale Funds**

(Exact name of registrant as specified in charter)

400 Park Avenue

New York, New York 10022

(Address of principal executive offices) (Zip code)

Faria Adam

400 Park Avenue

New York, New York 10022

(Name and address of agent for service)

**Registrant's telephone number, including area code: 1-888-889-0799**

**Date of fiscal year end: September 30, 2025**

**Date of reporting period: September 30, 2025**

Item 1. Reports to Stockholders.

(a) A copy of the report transmitted to stockholders pursuant to Rule 30e-1 under the Investment Company Act of 1940, as amended (the "Act") (17 CFR § 270.30e-1), is attached hereto.

**# City National Rochdale Funds
![Image](i672f683ca43873330b4932b0.jpg)

## City National Rochdale Government Money Market Fund

## Class N Shares - CNGXX

## Annual Shareholder Report: September 30, 2025
This annual shareholder report contains important information about Class N Shares of the City National Rochdale Government Money Market Fund (the "Fund") for the period from October 1, 2024 to September 30, 2025. You can find additional information about the Fund at https://www.citynationalrochdalefunds.com/dashboard. You can also request this information by contacting us at 1-888-889-0799.

# What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| <u>Fund Name</u> | <u>Costs of a $10,000 investment</u> | <u>Costs paid as a percentage of a $10,000 investment</u> |
| City National Rochdale Government Money Market Fund, Class N Shares | $67 | 0.66% |

---

# Key Fund Statistics as of September 30, 2025

---

| | | |
|:---|:---|:---|
| <u>Total Net Assets (000's)</u> | <u>Number of Holdings</u> | <u>Total Advisory Fees Paid (000's)</u> |
| $8490340 | 49 | $3265 |

---

# What did the Fund invest in?

# Asset Weightings<sup>Footnote Reference \*</sup>
![Holdings Chart](i38a38ef1f64a1e1dbdbd73cb.jpg)

---

| | |
|:---|:---|
| Value | Value.1 |
| Short-Term Investments | 3.6% |
| Repurchase Agreements | 15.9% |
| U.S. Treasury Obligations | 33.6% |
| U.S. Government Agency Obligations | 45.5% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

# Top Ten Holdings

---

| | |
|:---|:---|
| <u>Holding Name</u> | <u>Percentage of Total Net Assets</u> |
| Goldman Sachs | 8.2% |
| United States Treasury Bills, 4.27%, 10/2/2025 | 4.7% |
| United States Treasury Bills, 4.03%, 10/21/2025 | 4.7% |
| United States Treasury Bills, 4.04%, 11/6/2025 | 4.7% |
| FHLB DN | 3.9% |
| FHLB DN | 2.9% |
| United States Treasury Notes, 4.88%, 5/31/2026 | 2.5% |
| FFCB | 2.5% |
| Barclays | 2.4% |
| Daiwa MBS | 2.4% |

---

## Material Fund Changes
There were no material changes during the reporting period.

## Changes in and Disagreements with Accountants
There were no changes in or disagreements with accountants during the reporting period.

# Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 1-888-889-0799 

* https://www.citynationalrochdalefunds.com/dashboard 

# Householding
Rule 30e-1 of the Investment Company Act of 1940 permits funds to transmit only one copy of a proxy statement, annual report or semi-annual report to shareholders (who need not be related) with the same residential, commercial or electronic address, provided that the shareholders have consented in writing and the reports are addressed either to each shareholder individually or to the shareholders as a group. This process is known as "householding" and is designed to reduce the duplicate copies of materials that shareholders receive and to lower printing and mailing costs for funds. Once implemented, if you would like to discontinue householding for your accounts, please call toll-free at 1-888-889-0799 to request individual copies of these documents. Once the Fund receives notice to stop householding, we will begin sending individual copies 30 days after receiving your request.

#### City National Rochdale Funds

#### CNGXX-AR-2025

# City National Rochdale Funds
![Image](i672f683ca43873330b4932b0.jpg)

## City National Rochdale Government Money Market Fund

## Class S Shares - CNFXX

## Annual Shareholder Report: September 30, 2025
This annual shareholder report contains important information about Class S Shares of the City National Rochdale Government Money Market Fund (the "Fund") for the period from October 1, 2024 to September 30, 2025. You can find additional information about the Fund at https://www.citynationalrochdalefunds.com/dashboard. You can also request this information by contacting us at 1-888-889-0799.

# What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| <u>Fund Name</u> | <u>Costs of a $10,000 investment</u> | <u>Costs paid as a percentage of a $10,000 investment</u> |
| City National Rochdale Government Money Market Fund, Class S Shares | $80 | 0.79% |

---

# Key Fund Statistics as of September 30, 2025

---

| | | |
|:---|:---|:---|
| <u>Total Net Assets (000's)</u> | <u>Number of Holdings</u> | <u>Total Advisory Fees Paid (000's)</u> |
| $8490340 | 49 | $3265 |

---

# What did the Fund invest in?

# Asset Weightings<sup>Footnote Reference \*</sup>
![Holdings Chart](i8b9c08d5b133df237d2c23b5.jpg)

---

| | |
|:---|:---|
| Value | Value.1 |
| Short-Term Investments | 3.6% |
| Repurchase Agreements | 15.9% |
| U.S. Treasury Obligations | 33.6% |
| U.S. Government Agency Obligations | 45.5% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

# Top Ten Holdings

---

| | |
|:---|:---|
| <u>Holding Name</u> | <u>Percentage of Total Net Assets</u> |
| Goldman Sachs | 8.2% |
| United States Treasury Bills, 4.27%, 10/2/2025 | 4.7% |
| United States Treasury Bills, 4.03%, 10/21/2025 | 4.7% |
| United States Treasury Bills, 4.04%, 11/6/2025 | 4.7% |
| FHLB DN | 3.9% |
| FHLB DN | 2.9% |
| United States Treasury Notes, 4.88%, 5/31/2026 | 2.5% |
| FFCB | 2.5% |
| Barclays | 2.4% |
| Daiwa MBS | 2.4% |

---

## Material Fund Changes
There were no material changes during the reporting period.

## Changes in and Disagreements with Accountants
There were no changes in or disagreements with accountants during the reporting period.

# Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 1-888-889-0799 

* https://www.citynationalrochdalefunds.com/dashboard 

# Householding
Rule 30e-1 of the Investment Company Act of 1940 permits funds to transmit only one copy of a proxy statement, annual report or semi-annual report to shareholders (who need not be related) with the same residential, commercial or electronic address, provided that the shareholders have consented in writing and the reports are addressed either to each shareholder individually or to the shareholders as a group. This process is known as "householding" and is designed to reduce the duplicate copies of materials that shareholders receive and to lower printing and mailing costs for funds. Once implemented, if you would like to discontinue householding for your accounts, please call toll-free at 1-888-889-0799 to request individual copies of these documents. Once the Fund receives notice to stop householding, we will begin sending individual copies 30 days after receiving your request.

#### City National Rochdale Funds

#### CNFXX-AR-2025

# City National Rochdale Funds
![Image](i672f683ca43873330b4932b0.jpg)

## City National Rochdale Government Money Market Fund

## Servicing Class Shares - CNIXX

## Annual Shareholder Report: September 30, 2025
This annual shareholder report contains important information about Servicing Class Shares of the City National Rochdale Government Money Market Fund (the "Fund") for the period from October 1, 2024 to September 30, 2025. You can find additional information about the Fund at https://www.citynationalrochdalefunds.com/dashboard. You can also request this information by contacting us at 1-888-889-0799.

# What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| <u>Fund Name</u> | <u>Costs of a $10,000 investment</u> | <u>Costs paid as a percentage of a $10,000 investment</u> |
| City National Rochdale Government Money Market Fund, Servicing Class Shares | $35 | 0.34% |

---

# Key Fund Statistics as of September 30, 2025

---

| | | |
|:---|:---|:---|
| <u>Total Net Assets (000's)</u> | <u>Number of Holdings</u> | <u>Total Advisory Fees Paid (000's)</u> |
| $8490340 | 49 | $3265 |

---

# What did the Fund invest in?

# Asset Weightings<sup>Footnote Reference \*</sup>
![Holdings Chart](i5ca8d3be08ba87514a35fe04.jpg)

---

| | |
|:---|:---|
| Value | Value.1 |
| Short-Term Investments | 3.6% |
| Repurchase Agreements | 15.9% |
| U.S. Treasury Obligations | 33.6% |
| U.S. Government Agency Obligations | 45.5% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

# Top Ten Holdings

---

| | |
|:---|:---|
| <u>Holding Name</u> | <u>Percentage of Total Net Assets</u> |
| Goldman Sachs | 8.2% |
| United States Treasury Bills, 4.27%, 10/2/2025 | 4.7% |
| United States Treasury Bills, 4.03%, 10/21/2025 | 4.7% |
| United States Treasury Bills, 4.04%, 11/6/2025 | 4.7% |
| FHLB DN | 3.9% |
| FHLB DN | 2.9% |
| United States Treasury Notes, 4.88%, 5/31/2026 | 2.5% |
| FFCB | 2.5% |
| Barclays | 2.4% |
| Daiwa MBS | 2.4% |

---

## Material Fund Changes
There were no material changes during the reporting period.

## Changes in and Disagreements with Accountants
There were no changes in or disagreements with accountants during the reporting period.

# Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 1-888-889-0799 

* https://www.citynationalrochdalefunds.com/dashboard 

# Householding
Rule 30e-1 of the Investment Company Act of 1940 permits funds to transmit only one copy of a proxy statement, annual report or semi-annual report to shareholders (who need not be related) with the same residential, commercial or electronic address, provided that the shareholders have consented in writing and the reports are addressed either to each shareholder individually or to the shareholders as a group. This process is known as "householding" and is designed to reduce the duplicate copies of materials that shareholders receive and to lower printing and mailing costs for funds. Once implemented, if you would like to discontinue householding for your accounts, please call toll-free at 1-888-889-0799 to request individual copies of these documents. Once the Fund receives notice to stop householding, we will begin sending individual copies 30 days after receiving your request.

#### City National Rochdale Funds

#### CNIXX-AR-2025

# City National Rochdale Funds
![Image](i84cfec6ca5d0ceacb6fc7914.jpg)

## City National Rochdale Municipal High Income Fund

## Class N Shares - CNRNX

## Annual Shareholder Report: September 30, 2025
This annual shareholder report contains important information about Class N Shares of the City National Rochdale Municipal High Income Fund (the "Fund") for the period from October 1, 2024 to September 30, 2025. You can find additional information about the Fund at https://www.citynationalrochdalefunds.com/dashboard. You can also request this information by contacting us at 1-888-889-0799.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| <u>Fund Name</u> | <u>Costs of a $10,000 investment</u> | <u>Costs paid as a percentage of a $10,000 investment</u> |
| City National Rochdale Municipal High Income Fund, Class N Shares | $113 | 1.13% |

---

## How did the Fund perform in the last year?
The N Class shares of the Fund posted a return of 2.60% for Q3 2025 versus the Bloomberg 60% Tax Exempt High Yield / 40% Municipal Investment Grade Custom Capped Custom Weighted Index Unhedged US (the "Index") return of 2.28%. Calendar year-to-date, as of September 30, 2025, the Fund returned 1.58% versus the Index return of 2.02%. For the fiscal year ended September 30, 2025, the Fund returned 0.48%, which underperformed its benchmark return of 1.39%.

High yield municipal bond technicals have been positive throughout fiscal year 2025, with strong investor demand as witnessed by positive fund flows, manageable supply and good liquidity. The Fund's effective duration during fiscal year 2025 has remained slightly long the benchmark index. The Fund has continued to reduce exposure to more speculative non-rated bonds and has added higher quality bonds. Fundamentally, high yield credit quality remains strong, with weaknesses in only a few discrete sectors, such as small private universities, the industrial development sector and small rural hospitals. The portfolio management team utilizes a bottom-up fundamental research process, which includes site visits and meeting with management.

#### How did the Fund perform during the last 10 years?

## Total Return Based on $10,000 Investment

## Average Annual Total Returns as of September 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| <u>Fund/Index Name</u> | <u>1 Year</u> | <u>5 Years</u> | <u>10 Years</u> |
| City National Rochdale Municipal High Income Fund, Class N Shares | 0.48% | 0.66% | 2.08% |
| Bloomberg US Municipal Bond Index (USD) | 1.39% | 0.86% | 2.34% |
| Bloomberg 60% Tax-Exempt High Yield/40% Municipal Investment Grade Custom Capped Custom Weighted Index Unhedged US | 0.68% | 2.06% | 3.60% |

---

![Growth Chart](ie788935c19471f2dd75643da.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | City National Rochdale Municipal High Income Fund, Class N Shares | Bloomberg US Municipal Bond Index (USD) | Bloomberg 60% Tax-Exempt High Yield/40% Municipal Investment Grade Custom Capped Custom Weighted Index Unhedged US |
| Sep/15 | $10000 | $10000 | $10000 |
| Sep/16 | $10834 | $10558 | $10900 |
| Sep/17 | $10851 | $10650 | $11033 |
| Sep/18 | $11039 | $10687 | $11465 |
| Sep/19 | $11865 | $11601 | $12546 |
| Sep/20 | $11885 | $12076 | $12858 |
| Sep/21 | $12777 | $12393 | $13858 |
| Sep/22 | $10673 | $10968 | $11968 |
| Sep/23 | $10720 | $11260 | $12347 |
| Sep/24 | $12225 | $12428 | $14141 |
| Sep/25 | $12283 | $12601 | $14237 |

---

The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund during the last 10 years. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph presented above do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. Past performance is not indicative of future performance.Call 1-888-889-0799 or visit https://www.citynationalrochdalefunds.com/dashboard for current month-end performance.

## Key Fund Statistics as of September 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| <u>Total Net Assets (000's)</u> | <u>Number of Holdings</u> | <u>Total Advisory Fees Paid (000's)</u> | <u>Portfolio Turnover Rate</u> |
| $761295 | 410 | $3884 | 23% |

---

## What did the Fund invest in?

### Asset/Sector Weightings<sup>Footnote Reference \*</sup>
![Holdings Chart](ic5a1593ea3a9f9b228b29649.jpg)

---

| | |
|:---|:---|
| Value | Value.1 |
| Common Stock | 0.0% |
| Board Bank Revenue | 0.1% |
| Pollution Control | 0.7% |
| Water | 1.1% |
| Short-Term Investment | 2.0% |
| Transportation | 2.1% |
| Tobacco | 2.5% |
| General Obligations | 2.5% |
| Housing | 4.2% |
| Airports | 4.5% |
| Health Care | 9.0% |
| Nursing Homes | 14.4% |
| Education | 16.1% |
| General Revenue | 20.0% |
| Industrial Development | 20.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

### Top Ten Holdings

---

| | | | |
|:---|:---|:---|:---|
| <u>Holding Name</u> | <u>Coupon Rate</u> | <u>Maturity Date</u> | <u>Percentage of Total Net Assets<sup>Footnote Reference(A)</sup></u> |
| Puerto Rico, Sales Tax Financing, Sales Tax Revenue, Ser A-1 | 4.500% | 07/01/34 | 1.3% |
| Chicago, O'Hare International Airport, Ser A, AMT | 5.000% | 01/01/48 | 0.8% |
| North Texas, Tollway Authority, Convertible Capital Appreciation Project, Ser C | 7.000% | 09/01/31 | 0.8% |
| Westchester, Tobacco Asset Securitization, Sub-Ser C | 5.125% | 06/01/51 | 0.8% |
| Legato Community Authority, Ser A-2 | 0.000% | 12/01/51 | 0.7% |
| Illinois State, Housing Development Authority, Stonebridge Gurnee Project, Ser A | 5.600% | 01/01/56 | 0.7% |
| Main Street Natural Gas, Ser E | 5.000% | 05/01/55 | 0.7% |
| Black Belt Energy Gas District, Ser B | 5.000% | 10/01/55 | 0.7% |
| Sierra Vista, Industrial Development Authority | 5.750% | 06/15/53 | 0.7% |
| Puerto Rico, Sales Tax Financing, Sales Tax Revenue, Ser A-2 | 4.784% | 07/01/58 | 0.7% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(A)</sup> | &nbsp;&nbsp;Short-Term Investments are not shown in the top ten chart. |

---

## Material Fund Changes
There were no material changes during the reporting period.

## Changes in and Disagreements with Accountants
There were no changes in or disagreements with accountants during the reporting period.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 1-888-889-0799 

* https://www.citynationalrochdalefunds.com/dashboard 

## Householding
Rule 30e-1 of the Investment Company Act of 1940 permits funds to transmit only one copy of a proxy statement, annual report or semi-annual report to shareholders (who need not be related) with the same residential, commercial or electronic address, provided that the shareholders have consented in writing and the reports are addressed either to each shareholder individually or to the shareholders as a group. This process is known as "householding" and is designed to reduce the duplicate copies of materials that shareholders receive and to lower printing and mailing costs for funds. Once implemented, if you would like to discontinue householding for your accounts, please call toll-free at 1-888-889-0799 to request individual copies of these documents. Once the Fund receives notice to stop householding, we will begin sending individual copies 30 days after receiving your request.

![Image](i84cfec6ca5d0ceacb6fc7914.jpg)

## City National Rochdale Funds

## City National Rochdale Municipal High Income Fund / Class N Shares - CNRNX

## Annual Shareholder Report: September 30, 2025

## CNRNX-AR-2025

# City National Rochdale Funds
![Image](i84cfec6ca5d0ceacb6fc7914.jpg)

## City National Rochdale Municipal High Income Fund

## Servicing Class Shares - CNRMX

## Annual Shareholder Report: September 30, 2025
This annual shareholder report contains important information about Servicing Class Shares of the City National Rochdale Municipal High Income Fund (the "Fund") for the period from October 1, 2024 to September 30, 2025. You can find additional information about the Fund at https://www.citynationalrochdalefunds.com/dashboard. You can also request this information by contacting us at 1-888-889-0799.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| <u>Fund Name</u> | <u>Costs of a $10,000 investment</u> | <u>Costs paid as a percentage of a $10,000 investment</u> |
| City National Rochdale Municipal High Income Fund, Servicing Class Shares | $88 | 0.88% |

---

## How did the Fund perform in the last year?
The Servicing Class shares of the Fund posted a return of 2.78% for Q3 2025 versus the Bloomberg 60% Tax Exempt High Yield / 40% Municipal Investment Grade Custom Capped Custom Weighted Index Unhedged US (the "Index") return of 2.28%. Calendar year-to-date, as of September 30, 2025, the Fund returned 1.88% versus the Index return of 2.02%. For the fiscal year ended September 30, 2025, the Fund returned 0.84%, which underperformed its benchmark return of 1.39%.

High yield municipal bond technicals have been positive throughout fiscal year 2025, with strong investor demand as witnessed by positive fund flows, manageable supply and good liquidity. The Fund's effective duration during fiscal year 2025 has remained slightly long the benchmark index. The Fund has continued to reduce exposure to more speculative non-rated bonds and has added higher quality bonds. Fundamentally, high yield credit quality remains strong, with weaknesses in only a few discrete sectors, such as small private universities, the industrial development sector and small rural hospitals. The portfolio management team utilizes a bottom-up fundamental research process, which includes site visits and meeting with management.

#### How did the Fund perform during the last 10 years?

## Total Return Based on $10,000 Investment

## Average Annual Total Returns as of September 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| <u>Fund/Index Name</u> | <u>1 Year</u> | <u>5 Years</u> | <u>10 Years</u> |
| City National Rochdale Municipal High Income Fund, Servicing Class Shares | 0.84% | 0.92% | 2.33% |
| Bloomberg US Municipal Bond Index (USD) | 1.39% | 0.86% | 2.34% |
| Bloomberg 60% Tax-Exempt High Yield/40% Municipal Investment Grade Custom Capped Custom Weighted Index Unhedged US | 0.68% | 2.06% | 3.60% |

---

![Growth Chart](id733cbcfd1ba4d9ce203f3fc.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | City National Rochdale Municipal High Income Fund, Servicing Class Shares | Bloomberg US Municipal Bond Index (USD) | Bloomberg 60% Tax-Exempt High Yield/40% Municipal Investment Grade Custom Capped Custom Weighted Index Unhedged US |
| Sep/15 | $10000 | $10000 | $10000 |
| Sep/16 | $10850 | $10558 | $10900 |
| Sep/17 | $10905 | $10650 | $11033 |
| Sep/18 | $11111 | $10687 | $11465 |
| Sep/19 | $11971 | $11601 | $12546 |
| Sep/20 | $12033 | $12076 | $12858 |
| Sep/21 | $12968 | $12393 | $13858 |
| Sep/22 | $10862 | $10968 | $11968 |
| Sep/23 | $10924 | $11260 | $12347 |
| Sep/24 | $12489 | $12428 | $14141 |
| Sep/25 | $12594 | $12601 | $14237 |

---

The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund during the last 10 years. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph presented above do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. Past performance is not indicative of future performance.Call 1-888-889-0799 or visit https://www.citynationalrochdalefunds.com/dashboard for current month-end performance.

## Key Fund Statistics as of September 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| <u>Total Net Assets (000's)</u> | <u>Number of Holdings</u> | <u>Total Advisory Fees Paid (000's)</u> | <u>Portfolio Turnover Rate</u> |
| $761295 | 410 | $3884 | 23% |

---

## What did the Fund invest in?

### Asset/Sector Weightings<sup>Footnote Reference \*</sup>
![Holdings Chart](id119953dde088ea88c560831.jpg)

---

| | |
|:---|:---|
| Value | Value.1 |
| Common Stock | 0.0% |
| Board Bank Revenue | 0.1% |
| Pollution Control | 0.7% |
| Water | 1.1% |
| Short-Term Investment | 2.0% |
| Transportation | 2.1% |
| Tobacco | 2.5% |
| General Obligations | 2.5% |
| Housing | 4.2% |
| Airports | 4.5% |
| Health Care | 9.0% |
| Nursing Homes | 14.4% |
| Education | 16.1% |
| General Revenue | 20.0% |
| Industrial Development | 20.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

### Top Ten Holdings

---

| | | | |
|:---|:---|:---|:---|
| <u>Holding Name</u> | <u>Coupon Rate</u> | <u>Maturity Date</u> | <u>Percentage of Total Net Assets<sup>Footnote Reference(A)</sup></u> |
| Puerto Rico, Sales Tax Financing, Sales Tax Revenue, Ser A-1 | 4.500% | 07/01/34 | 1.3% |
| Chicago, O'Hare International Airport, Ser A, AMT | 5.000% | 01/01/48 | 0.8% |
| North Texas, Tollway Authority, Convertible Capital Appreciation Project, Ser C | 7.000% | 09/01/31 | 0.8% |
| Westchester, Tobacco Asset Securitization, Sub-Ser C | 5.125% | 06/01/51 | 0.8% |
| Legato Community Authority, Ser A-2 | 0.000% | 12/01/51 | 0.7% |
| Illinois State, Housing Development Authority, Stonebridge Gurnee Project, Ser A | 5.600% | 01/01/56 | 0.7% |
| Main Street Natural Gas, Ser E | 5.000% | 05/01/55 | 0.7% |
| Black Belt Energy Gas District, Ser B | 5.000% | 10/01/55 | 0.7% |
| Sierra Vista, Industrial Development Authority | 5.750% | 06/15/53 | 0.7% |
| Puerto Rico, Sales Tax Financing, Sales Tax Revenue, Ser A-2 | 4.784% | 07/01/58 | 0.7% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(A)</sup> | &nbsp;&nbsp;Short-Term Investments are not shown in the top ten chart. |

---

## Material Fund Changes
There were no material changes during the reporting period.

## Changes in and Disagreements with Accountants
There were no changes in or disagreements with accountants during the reporting period.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 1-888-889-0799 

* https://www.citynationalrochdalefunds.com/dashboard 

## Householding
Rule 30e-1 of the Investment Company Act of 1940 permits funds to transmit only one copy of a proxy statement, annual report or semi-annual report to shareholders (who need not be related) with the same residential, commercial or electronic address, provided that the shareholders have consented in writing and the reports are addressed either to each shareholder individually or to the shareholders as a group. This process is known as "householding" and is designed to reduce the duplicate copies of materials that shareholders receive and to lower printing and mailing costs for funds. Once implemented, if you would like to discontinue householding for your accounts, please call toll-free at 1-888-889-0799 to request individual copies of these documents. Once the Fund receives notice to stop householding, we will begin sending individual copies 30 days after receiving your request.

![Image](i84cfec6ca5d0ceacb6fc7914.jpg)

## City National Rochdale Funds

## City National Rochdale Municipal High Income Fund / Servicing Class Shares - CNRMX

## Annual Shareholder Report: September 30, 2025

## CNRMX-AR-2025

# City National Rochdale Funds
![Image](i84cfec6ca5d0ceacb6fc7914.jpg)

## City National Rochdale Fixed Income Opportunities Fund

## Class N Shares - RIMOX

## Annual Shareholder Report: September 30, 2025
This annual shareholder report contains important information about Class N Shares of the City National Rochdale Fixed Income Opportunities Fund (the "Fund") for the period from October 1, 2024 to September 30, 2025. You can find additional information about the Fund at https://www.citynationalrochdalefunds.com/dashboard. You can also request this information by contacting us at 1-888-889-0799.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| <u>Fund Name</u> | <u>Costs of a $10,000 investment</u> | <u>Costs paid as a percentage of a $10,000 investment</u> |
| City National Rochdale Fixed Income Opportunities Fund, Class N Shares | $121 | 1.17% |

---

## How did the Fund perform in the last year?
The Fund's Class N shares posted a return of 2.31% for Q3 2025, which outperformed the blended benchmark (40% Bloomberg Multiverse Total Return Index Value Hedged USD, 35% S&P Global Leveraged Loan Index, 25% Bloomberg Emerging Markets High Yield Index) return of 1.84%. Calendar year to date, as of September 30, 2025, the Fund returned 6.07% versus the blended benchmark return of 6.53%. For the fiscal year ended September 30, 2025, the Fund returned 6.77%, which outperformed the blended benchmark return of 6.73%.

For Q3, the Fund's underlying managers found positive performance in each segment. Manager level performance was in line with strategy level benchmarks during Q3, as well. Year-to-date performance through September 30, 2025, has been more challenged, with underperformance in the U.S. high yield and emerging market high yield segments being the largest detractors. In terms of outlook, management feels that the Fund is positioned reasonably well for a lower interest rate environment and may expect moderate performance due to slightly lower total yield levels.

#### How did the Fund perform during the last 10 years?

## Total Return Based on $10,000 Investment

## Average Annual Total Returns as of September 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| <u>Fund/Index Name</u> | <u>1 Year</u> | <u>5 Years</u> | <u>10 Years</u> |
| City National Rochdale Fixed Income Opportunities Fund, Class N Shares | 6.77% | 4.15% | 4.05% |
| Bloomberg Global Aggregate Index (USD) | 2.40% | -1.56% | 1.15% |
| Bloomberg Global Aggregate - Corporate Hedged (USD) (TR)<sup>Footnote Reference\*</sup> | 4.45% | 1.00% | 3.32% |
| 40% Bloomberg Multiverse TR Index Value Hedged/35%S&P Global Leveraged Loan Index/25%Bloomberg Emerging Markets High Yield Index<sup>Footnote Reference\*</sup> | 6.73% | 3.96% | 4.37% |

---

![Growth Chart](ia592c3262e403989c85aea5a.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | City National Rochdale Fixed Income Opportunities Fund, Class N Shares | Bloomberg Global Aggregate Index (USD) | Bloomberg Global Aggregate - Corporate Hedged (USD) (TR)<sup>Footnote Reference\*</sup> | 40% Bloomberg Multiverse TR Index Value Hedged/35%S&P Global Leveraged Loan Index/25%Bloomberg Emerging Markets High Yield Index<sup>Footnote Reference\*</sup> |
| Sep/15 | $10000 | $10000 | $10000 | $10000 |
| Sep/16 | $10804 | $10883 | $10859 | $10961 |
| Sep/17 | $11667 | $10746 | $11104 | $11427 |
| Sep/18 | $11794 | $10605 | $11113 | $11530 |
| Sep/19 | $12245 | $11411 | $12413 | $12270 |
| Sep/20 | $12131 | $12122 | $13183 | $12625 |
| Sep/21 | $13361 | $12012 | $13437 | $13195 |
| Sep/22 | $11326 | $9558 | $11197 | $11447 |
| Sep/23 | $12622 | $9772 | $11713 | $12594 |
| Sep/24 | $13924 | $10943 | $13266 | $14366 |
| Sep/25 | $14867 | $11207 | $13857 | $14366 |

---

The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund during the last 10 years. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph presented above do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. Past performance is not indicative of future performance.Call 1-888-889-0799 or visit https://www.citynationalrochdalefunds.com/dashboard for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |

---

## Key Fund Statistics as of September 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| <u>Total Net Assets (000's)</u> | <u>Number of Holdings</u> | <u>Total Advisory Fees Paid (000's)</u> | <u>Portfolio Turnover Rate</u> |
| $1689980 | 1297 | $8059 | 40% |

---

## What did the Fund invest in?

### Asset Weightings<sup>Footnote Reference \*</sup>
![Holdings Chart](i239283c96aa2885bfbc46942.jpg)

---

| | |
|:---|:---|
| Value | Value.1 |
| Futures Contracts | 0.0% |
| Warrants | 0.0% |
| Forward Foreign Currency Contracts | 0.0% |
| Common Stock | 0.2% |
| Note | 0.4% |
| Sovereign Debt | 0.7% |
| Convertible Bonds | 1.3% |
| Limited Partnerships | 2.1% |
| Short-Term Investment | 4.2% |
| Non-Listed Business Development Companies | 5.4% |
| Loan Participations | 16.0% |
| Collateralized Loan Obligations | 19.1% |
| Corporate Bonds | 50.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

### Top Ten Holdings

---

| | | | |
|:---|:---|:---|:---|
| <u>Holding Name</u> | <u>Coupon Rate</u> | <u>Maturity Date</u> | <u>Percentage of Total Net Assets<sup>Footnote Reference(A)</sup></u> |
| Golub Capital BDC 4 |  |  | 4.4% |
| Primary Wave Music IP Fund LP |  |  | 1.4% |
| Armada Euro CLO III DAC, Ser 2024-3A, Cl ARR, EUR003M + 1.350% | 3.376% | 10/15/37 | 1.0% |
| TCW Direct Lending LLC |  |  | 1.0% |
| Petroleos de Venezuela | 8.500% | 10/27/20 | 0.6% |
| Sandstone Peak III, Ser 2024-1A, Cl A1, TSFR3M + 1.630% | 5.949% | 04/25/37 | 0.6% |
| Akbank, H15T5Y + 5.270% | 9.369% | 06/14/74 | 0.5% |
| Petroleos Mexicanos | 5.950% | 01/28/31 | 0.5% |
| Sasol Financing USA | 4.500% | 11/08/27 | 0.5% |
| Oberland Capital Healthcare Solutions Co-Invest Offshore LP |  |  | 0.5% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(A)</sup> | &nbsp;&nbsp;Short-Term Investments are not shown in the top ten chart. |

---

## Material Fund Changes
There were no material changes during the reporting period.

## Changes in and Disagreements with Accountants
There were no changes in or disagreements with accountants during the reporting period.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 1-888-889-0799 

* https://www.citynationalrochdalefunds.com/dashboard 

## Householding
Rule 30e-1 of the Investment Company Act of 1940 permits funds to transmit only one copy of a proxy statement, annual report or semi-annual report to shareholders (who need not be related) with the same residential, commercial or electronic address, provided that the shareholders have consented in writing and the reports are addressed either to each shareholder individually or to the shareholders as a group. This process is known as "householding" and is designed to reduce the duplicate copies of materials that shareholders receive and to lower printing and mailing costs for funds. Once implemented, if you would like to discontinue householding for your accounts, please call toll-free at 1-888-889-0799 to request individual copies of these documents. Once the Fund receives notice to stop householding, we will begin sending individual copies 30 days after receiving your request.

![Image](i84cfec6ca5d0ceacb6fc7914.jpg)

## City National Rochdale Funds

## City National Rochdale Fixed Income Opportunities Fund / Class N Shares - RIMOX

## Annual Shareholder Report: September 30, 2025

## RIMOX-AR-2025

# City National Rochdale Funds
![Image](i84cfec6ca5d0ceacb6fc7914.jpg)

## City National Rochdale U.S. Core Equity Fund

## Institutional Class Shares - CNRUX

## Annual Shareholder Report: September 30, 2025
This annual shareholder report contains important information about Institutional Class Shares of the City National Rochdale U.S. Core Equity Fund (the "Fund") for the period from October 1, 2024 to September 30, 2025. You can find additional information about the Fund at https://www.citynationalrochdalefunds.com/dashboard. You can also request this information by contacting us at 1-888-889-0799. This annual shareholder report describes changes to the Fund that occurred during the reporting period.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| <u>Fund Name</u> | <u>Costs of a $10,000 investment</u> | <u>Costs paid as a percentage of a $10,000 investment</u> |
| City National Rochdale U.S. Core Equity Fund, Institutional Class Shares | $63 | 0.59% |

---

## How did the Fund perform in the last year?
The N Class shares of the Fund posted a return of 7.30% for Q3 2025, which underperformed the S&P 500 Index return of 8.11%. Calendar year to date, as of September 30, 2025, the Fund returned 12.66%, which underperformed its benchmark return of 14.81%. For the fiscal year ended September 30, 2025, the Fund returned 14.22%, which underperformed its benchmark return of 17.60%.

U.S. large-cap equities remained resilient through the third quarter, supported by moderating inflation, a stable policy backdrop, and steady corporate earnings. Market leadership continued to narrow around the largest technology and consumer platforms, but breadth improved modestly as investors gained confidence in the durability of the economic cycle.

Valuations are now elevated relative to long-term norms, reflecting optimism about earnings stability and continued productivity gains from AI adoption. While this leaves less room for disappointment, balance sheets remain healthy, margins are holding up, and cash generation supports ongoing buybacks and dividends.

Overall, the outlook for U.S. large-caps is constructive but selective—favorable for companies with clear pricing power, strong profitability, and sustainable growth drivers, yet more demanding for richly valued segments where expectations are already high.

#### How did the Fund perform during the last 10 years?

## Total Return Based on $1,000,000 Investment

## Average Annual Total Returns as of September 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| <u>Fund/Index Name</u> | <u>1 Year</u> | <u>5 Years</u> | <u>10 Years</u> |
| City National Rochdale U.S. Core Equity Fund, Institutional Class Shares | 14.22% | 13.62% | 13.83% |
| S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 17.60% | 16.47% | 15.30% |

---

![Growth Chart](i6ac2dd632b0939a673846219.jpg)

---

| | | |
|:---|:---|:---|
| | City National Rochdale U.S. Core Equity Fund, Institutional Class Shares | S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup> |
| Sep/15 | $1000000 | $1000000 |
| Sep/16 | $1092491 | $1154304 |
| Sep/17 | $1304466 | $1369113 |
| Sep/18 | $1535462 | $1614326 |
| Sep/19 | $1719901 | $1682998 |
| Sep/20 | $1929679 | $1937956 |
| Sep/21 | $2446129 | $2519439 |
| Sep/22 | $2001466 | $2129630 |
| Sep/23 | $2410443 | $2589999 |
| Sep/24 | $3198400 | $3531504 |
| Sep/25 | $3653273 | $4152966 |

---

The line graph represents historical performance of a hypothetical investment of $1,000,000 in the Fund during the last 10 years. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph presented above do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. Past performance is not indicative of future performance.Call 1-888-889-0799 or visit https://www.citynationalrochdalefunds.com/dashboard for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |

---

## Key Fund Statistics as of September 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| <u>Total Net Assets (000's)</u> | <u>Number of Holdings</u> | <u>Total Advisory Fees Paid (000's)</u> | <u>Portfolio Turnover Rate</u> |
| $381208 | 55 | $1512 | 5% |

---

## What did the Fund invest in?

### Asset/Sector Weightings<sup>Footnote Reference \*</sup>
![Holdings Chart](i6fd1227cf776927bb9f10b12.jpg)

---

| | |
|:---|:---|
| Value | Value.1 |
| Short-Term Investment | 0.4% |
| Materials | 0.8% |
| Real Estate | 1.1% |
| Electric Utilities | 1.4% |
| Energy | 2.6% |
| Consumer Staples | 5.1% |
| Health Care | 7.1% |
| Industrials | 8.6% |
| Consumer Discretionary | 10.5% |
| Communication Services | 12.0% |
| Financials | 16.5% |
| Information Technology | 34.1% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

### Top Ten Holdings

---

| | |
|:---|:---|
| <u>Holding Name</u> | <u>Percentage of Total Net Assets<sup>Footnote Reference(A)</sup></u> |
| NVIDIA | 8.8% |
| Microsoft | 8.1% |
| Apple | 7.1% |
| Alphabet, Cl A | 5.2% |
| Amazon.Com | 3.9% |
| JPMorgan Chase | 3.6% |
| Broadcom | 3.2% |
| Meta Platforms, Cl A | 2.9% |
| Tesla | 2.4% |
| Berkshire Hathaway, Cl B | 2.1% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(A)</sup> | &nbsp;&nbsp;Short-Term Investments are not shown in the top ten chart. |

---

## Material Fund Changes
The Board of Trustees approved the liquidation of the U.S. Core Equity Fund. The Fund will be liquidated on or about December 22, 2025, at which time the net assets of the Fund will be distributed in a manner determined to be in the best interest of the shareholders and the Fund will be closed.

## Changes in and Disagreements with Accountants
There were no changes in or disagreements with accountants during the reporting period.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 1-888-889-0799 

* https://www.citynationalrochdalefunds.com/dashboard 

## Householding
Rule 30e-1 of the Investment Company Act of 1940 permits funds to transmit only one copy of a proxy statement, annual report or semi-annual report to shareholders (who need not be related) with the same residential, commercial or electronic address, provided that the shareholders have consented in writing and the reports are addressed either to each shareholder individually or to the shareholders as a group. This process is known as "householding" and is designed to reduce the duplicate copies of materials that shareholders receive and to lower printing and mailing costs for funds. Once implemented, if you would like to discontinue householding for your accounts, please call toll-free at 1-888-889-0799 to request individual copies of these documents. Once the Fund receives notice to stop householding, we will begin sending individual copies 30 days after receiving your request.

![Image](i84cfec6ca5d0ceacb6fc7914.jpg)

## City National Rochdale Funds

## City National Rochdale U.S. Core Equity Fund / Institutional Class Shares - CNRUX

## Annual Shareholder Report: September 30, 2025

## CNRUX-AR-2025

# City National Rochdale Funds
![Image](i84cfec6ca5d0ceacb6fc7914.jpg)

## City National Rochdale U.S. Core Equity Fund

## Class N Shares - CNRWX

## Annual Shareholder Report: September 30, 2025
This annual shareholder report contains important information about Class N Shares of the City National Rochdale U.S. Core Equity Fund (the "Fund") for the period from October 1, 2024 to September 30, 2025. You can find additional information about the Fund at https://www.citynationalrochdalefunds.com/dashboard. You can also request this information by contacting us at 1-888-889-0799. This annual shareholder report describes changes to the Fund that occurred during the reporting period.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| <u>Fund Name</u> | <u>Costs of a $10,000 investment</u> | <u>Costs paid as a percentage of a $10,000 investment</u> |
| City National Rochdale U.S. Core Equity Fund, Class N Shares | $116 | 1.09% |

---

## How did the Fund perform in the last year?
The N Class shares of the Fund posted a return of 7.21% for Q3 2025, which underperformed the S&P 500 Index return of 8.11%. Calendar year to date, as of September 30, 2025, the Fund returned 12.28%, which underperformed its benchmark return of 14.81%. For the fiscal year ended September 30, 2025, the Fund returned 13.67%, which underperformed its benchmark return of 17.60%.

U.S. large-cap equities remained resilient through the third quarter, supported by moderating inflation, a stable policy backdrop, and steady corporate earnings. Market leadership continued to narrow around the largest technology and consumer platforms, but breadth improved modestly as investors gained confidence in the durability of the economic cycle.

Valuations are now elevated relative to long-term norms, reflecting optimism about earnings stability and continued productivity gains from AI adoption. While this leaves less room for disappointment, balance sheets remain healthy, margins are holding up, and cash generation supports ongoing buybacks and dividends.

Overall, the outlook for U.S. large-caps is constructive but selective—favorable for companies with clear pricing power, strong profitability, and sustainable growth drivers, yet more demanding for richly valued segments where expectations are already high.

#### How did the Fund perform during the last 10 years?

## Total Return Based on $10,000 Investment

## Average Annual Total Returns as of September 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| <u>Fund/Index Name</u> | <u>1 Year</u> | <u>5 Years</u> | <u>10 Years</u> |
| City National Rochdale U.S. Core Equity Fund, Class N Shares | 13.67% | 13.17% | 13.32% |
| S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 17.60% | 16.47% | 15.30% |

---

![Growth Chart](i1141bfb4309a6d0004f22226.jpg)

---

| | | |
|:---|:---|:---|
| | City National Rochdale U.S. Core Equity Fund, Class N Shares | S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup> |
| Sep/15 | $10000 | $10000 |
| Sep/16 | $10863 | $11543 |
| Sep/17 | $12907 | $13691 |
| Sep/18 | $15117 | $16143 |
| Sep/19 | $16853 | $16830 |
| Sep/20 | $18815 | $19380 |
| Sep/21 | $23854 | $25194 |
| Sep/22 | $19416 | $21296 |
| Sep/23 | $23270 | $25900 |
| Sep/24 | $30724 | $35315 |
| Sep/25 | $34924 | $41530 |

---

The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund during the last 10 years. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph presented above do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. Past performance is not indicative of future performance.Call 1-888-889-0799 or visit https://www.citynationalrochdalefunds.com/dashboard for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |

---

## Key Fund Statistics as of September 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| <u>Total Net Assets (000's)</u> | <u>Number of Holdings</u> | <u>Total Advisory Fees Paid (000's)</u> | <u>Portfolio Turnover Rate</u> |
| $381208 | 55 | $1512 | 5% |

---

## What did the Fund invest in?

### Asset/Sector Weightings<sup>Footnote Reference \*</sup>
![Holdings Chart](ica2d81280dcc6d8eeac353de.jpg)

---

| | |
|:---|:---|
| Value | Value.1 |
| Short-Term Investment | 0.4% |
| Materials | 0.8% |
| Real Estate | 1.1% |
| Electric Utilities | 1.4% |
| Energy | 2.6% |
| Consumer Staples | 5.1% |
| Health Care | 7.1% |
| Industrials | 8.6% |
| Consumer Discretionary | 10.5% |
| Communication Services | 12.0% |
| Financials | 16.5% |
| Information Technology | 34.1% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

### Top Ten Holdings

---

| | |
|:---|:---|
| <u>Holding Name</u> | <u>Percentage of Total Net Assets<sup>Footnote Reference(A)</sup></u> |
| NVIDIA | 8.8% |
| Microsoft | 8.1% |
| Apple | 7.1% |
| Alphabet, Cl A | 5.2% |
| Amazon.Com | 3.9% |
| JPMorgan Chase | 3.6% |
| Broadcom | 3.2% |
| Meta Platforms, Cl A | 2.9% |
| Tesla | 2.4% |
| Berkshire Hathaway, Cl B | 2.1% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(A)</sup> | &nbsp;&nbsp;Short-Term Investments are not shown in the top ten chart. |

---

## Material Fund Changes
The Board of Trustees approved the liquidation of the U.S. Core Equity Fund. The Fund will be liquidated on or about December 22, 2025, at which time the net assets of the Fund will be distributed in a manner determined to be in the best interest of the shareholders and the Fund will be closed.

## Changes in and Disagreements with Accountants
There were no changes in or disagreements with accountants during the reporting period.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 1-888-889-0799 

* https://www.citynationalrochdalefunds.com/dashboard 

## Householding
Rule 30e-1 of the Investment Company Act of 1940 permits funds to transmit only one copy of a proxy statement, annual report or semi-annual report to shareholders (who need not be related) with the same residential, commercial or electronic address, provided that the shareholders have consented in writing and the reports are addressed either to each shareholder individually or to the shareholders as a group. This process is known as "householding" and is designed to reduce the duplicate copies of materials that shareholders receive and to lower printing and mailing costs for funds. Once implemented, if you would like to discontinue householding for your accounts, please call toll-free at 1-888-889-0799 to request individual copies of these documents. Once the Fund receives notice to stop householding, we will begin sending individual copies 30 days after receiving your request.

![Image](i84cfec6ca5d0ceacb6fc7914.jpg)

## City National Rochdale Funds

## City National Rochdale U.S. Core Equity Fund / Class N Shares - CNRWX

## Annual Shareholder Report: September 30, 2025

## CNRWX-AR-2025

# City National Rochdale Funds
![Image](i84cfec6ca5d0ceacb6fc7914.jpg)

## City National Rochdale U.S. Core Equity Fund

## Servicing Class Shares - CNRVX

## Annual Shareholder Report: September 30, 2025
This annual shareholder report contains important information about Servicing Class Shares of the City National Rochdale U.S. Core Equity Fund (the "Fund") for the period from October 1, 2024 to September 30, 2025. You can find additional information about the Fund at https://www.citynationalrochdalefunds.com/dashboard. You can also request this information by contacting us at 1-888-889-0799. This annual shareholder report describes changes to the Fund that occurred during the reporting period.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| <u>Fund Name</u> | <u>Costs of a $10,000 investment</u> | <u>Costs paid as a percentage of a $10,000 investment</u> |
| City National Rochdale U.S. Core Equity Fund, Servicing Class Shares | $90 | 0.84% |

---

## How did the Fund perform in the last year?
The Service Class shares of the Fund posted a return of 7.25% for Q3 2025, which underperformed the S&P 500 Index return of 8.11%. Calendar year to date, as of September 30, 2025, the Fund returned 12.47%, which underperformed its benchmark return of 14.81%. For the fiscal year ended September 30, 2025, the Fund returned 13.92%, which underperformed its benchmark return of 17.60%.

U.S. large-cap equities remained resilient through the third quarter, supported by moderating inflation, a stable policy backdrop, and steady corporate earnings. Market leadership continued to narrow around the largest technology and consumer platforms, but breadth improved modestly as investors gained confidence in the durability of the economic cycle.

Valuations are now elevated relative to long-term norms, reflecting optimism about earnings stability and continued productivity gains from AI adoption. While this leaves less room for disappointment, balance sheets remain healthy, margins are holding up, and cash generation supports ongoing buybacks and dividends.

Overall, the outlook for U.S. large-caps is constructive but selective—favorable for companies with clear pricing power, strong profitability, and sustainable growth drivers, yet more demanding for richly valued segments where expectations are already high.

#### How did the Fund perform during the last 10 years?

## Total Return Based on $10,000 Investment

## Average Annual Total Returns as of September 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| <u>Fund/Index Name</u> | <u>1 Year</u> | <u>5 Years</u> | <u>10 Years</u> |
| City National Rochdale U.S. Core Equity Fund, Servicing Class Shares | 13.92% | 13.45% | 13.61% |
| S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 17.60% | 16.47% | 15.30% |

---

![Growth Chart](id80b75ca3e009d649f2e91f3.jpg)

---

| | | |
|:---|:---|:---|
| | City National Rochdale U.S. Core Equity Fund, Servicing Class Shares | S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup> |
| Sep/15 | $10000 | $10000 |
| Sep/16 | $10897 | $11543 |
| Sep/17 | $12983 | $13691 |
| Sep/18 | $15240 | $16143 |
| Sep/19 | $17029 | $16830 |
| Sep/20 | $19056 | $19380 |
| Sep/21 | $24225 | $25194 |
| Sep/22 | $19762 | $21296 |
| Sep/23 | $23750 | $25900 |
| Sep/24 | $31440 | $35315 |
| Sep/25 | $35818 | $41530 |

---

The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund during the last 10 years. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph presented above do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. Past performance is not indicative of future performance.Call 1-888-889-0799 or visit https://www.citynationalrochdalefunds.com/dashboard for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |

---

## Key Fund Statistics as of September 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| <u>Total Net Assets (000's)</u> | <u>Number of Holdings</u> | <u>Total Advisory Fees Paid (000's)</u> | <u>Portfolio Turnover Rate</u> |
| $381208 | 55 | $1512 | 5% |

---

## What did the Fund invest in?

### Asset/Sector Weightings<sup>Footnote Reference \*</sup>
![Holdings Chart](i3657a1907c17c0af51e18443.jpg)

---

| | |
|:---|:---|
| Value | Value.1 |
| Short-Term Investment | 0.4% |
| Materials | 0.8% |
| Real Estate | 1.1% |
| Electric Utilities | 1.4% |
| Energy | 2.6% |
| Consumer Staples | 5.1% |
| Health Care | 7.1% |
| Industrials | 8.6% |
| Consumer Discretionary | 10.5% |
| Communication Services | 12.0% |
| Financials | 16.5% |
| Information Technology | 34.1% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

### Top Ten Holdings

---

| | |
|:---|:---|
| <u>Holding Name</u> | <u>Percentage of Total Net Assets<sup>Footnote Reference(A)</sup></u> |
| NVIDIA | 8.8% |
| Microsoft | 8.1% |
| Apple | 7.1% |
| Alphabet, Cl A | 5.2% |
| Amazon.Com | 3.9% |
| JPMorgan Chase | 3.6% |
| Broadcom | 3.2% |
| Meta Platforms, Cl A | 2.9% |
| Tesla | 2.4% |
| Berkshire Hathaway, Cl B | 2.1% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(A)</sup> | &nbsp;&nbsp;Short-Term Investments are not shown in the top ten chart. |

---

## Material Fund Changes
The Board of Trustees approved the liquidation of the U.S. Core Equity Fund. The Fund will be liquidated on or about December 22, 2025, at which time the net assets of the Fund will be distributed in a manner determined to be in the best interest of the shareholders and the Fund will be closed.

## Changes in and Disagreements with Accountants
There were no changes in or disagreements with accountants during the reporting period.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 1-888-889-0799 

* https://www.citynationalrochdalefunds.com/dashboard 

## Householding
Rule 30e-1 of the Investment Company Act of 1940 permits funds to transmit only one copy of a proxy statement, annual report or semi-annual report to shareholders (who need not be related) with the same residential, commercial or electronic address, provided that the shareholders have consented in writing and the reports are addressed either to each shareholder individually or to the shareholders as a group. This process is known as "householding" and is designed to reduce the duplicate copies of materials that shareholders receive and to lower printing and mailing costs for funds. Once implemented, if you would like to discontinue householding for your accounts, please call toll-free at 1-888-889-0799 to request individual copies of these documents. Once the Fund receives notice to stop householding, we will begin sending individual copies 30 days after receiving your request.

![Image](i84cfec6ca5d0ceacb6fc7914.jpg)

## City National Rochdale Funds

## City National Rochdale U.S. Core Equity Fund / Servicing Class Shares - CNRVX

## Annual Shareholder Report: September 30, 2025

## CNRVX-AR-2025**

(b) Not applicable.

**Item 2.** **Code of Ethics.**

The City National Rochdale Funds (the "Registrant" or "Trust") has adopted a code of ethics that applies to the Registrant's principal executive officer, principal financial officer, controller or principal accounting officer, and any person who performs a similar function. There have been no amendments to or waivers (implicit or explicit) granted with respect to any provision of this code of ethics during the period covered by this report.

**Item 3.** **Audit Committee Financial Expert.**

(a)(1) The Registrant's Board of Trustees has determined that the Registrant has at least one audit committee financial expert serving on the audit committee.

(a)(2) The audit committee financial expert is James R. Wolford. Mr. Wolford is independent as defined in Form N-CSR Item 3(a)(2).

Item 4. Principal Accountant Fees and Services.

Fees billed by Cohen & Company, LTD ("Cohen") related to the Trust.

Cohen billed the Trust aggregate fees for services rendered to the Trust for the last two fiscal years as follows:

Audit Fees(1)

&nbsp;&nbsp;&nbsp;&nbsp;(a) The aggregate fees billed for each of the last two fiscal years for professional services rendered by the principal accountant for the
 audit of the registrant's annual financial statements or services that are normally provided by the accountant in connection with
 statutory and regulatory filings or engagements for those fiscal years are $152,000 for 2025 and $191,500 for 2024.

Notes:

&nbsp;&nbsp;&nbsp;&nbsp;(1) Audit fees include amounts related to the audit of the Registrant's annual financial statements and services normally provided by
 the accountant in connection with statutory and regulatory filings.

(e)(1) Not applicable.

---

| | |
|:---|:---|
| (e)(2) | Percentage of fees billed applicable to non-audit services pursuant to waiver of pre-approval requirement were as follows: |

---

---

| | | |
|:---|:---|:---|
| | **2025** | **2024** |
| Audit-Related Fees<br>| N/A | N/A |
| Tax Fees | N/A | N/A |
| All Other Fees<br>| N/A | N/A |

---

(f) Not applicable.

(g) The aggregate non-audit fees and services billed by Cohen for the last two fiscal years were $0 and $0 for 2025 and 2024, respectively.

(h) Not applicable.

(i) Not applicable. The Registrant has not retained, for the preparation of the audit report on the financial statements included in the Form
 N-CSR, a registered public accounting firm that has a branch or office that is located in a foreign jurisdiction and that the Public Company
 Accounting Oversight Board (the "PCAOB") has determined that the PCAOB is unable to inspect or investigate completely because
 of a position taken by an authority in the foreign jurisdiction.

(j) Not applicable. The Registrant is not a "foreign issuer," as defined in 17 CFR § 240.3b-4.

**Item 5. Audit Committee of Listed Registrants.**

Not applicable to unlisted registrants.

**Item 6. Investments.**

(a) The Schedule of Investments is included as part of the Financial Statements and Other Information filed under Item 7 of this form.

(b) Not applicable.

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

Financial statements and financial highlights are filed herein.

![](fp0095915-2_i.jpg)

![](fp0095915-2_ii.jpg)

**TABLE OF CONTENTS**

City National Rochdale Funds Annual Financials and Other Information

---

| | |
|:---|:---|
| Financial Statements (Form N-CSR Item 7) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Schedules of Investments | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp; Statements of Assets and Liabilities | 74 |
| &nbsp;&nbsp;&nbsp;&nbsp; Statements of Operations | 76 |
| &nbsp;&nbsp;&nbsp;&nbsp; Statements of Changes in Net Assets | 78 |
| &nbsp;&nbsp;&nbsp;&nbsp; Statement of Cash Flows | 80 |
| &nbsp;&nbsp;&nbsp;&nbsp; Financial Highlights | 82 |
| &nbsp;&nbsp;&nbsp;&nbsp; Notes to Financial Statements | 84 |
| Report of Independent Registered Public Accounting Firm | 93 |
| Notice to Shareholders (Unaudited) | 94 |
| Other Information - (Form N-CSR Items 8-11) (Unaudited) | 95 |

---

CITY NATIONAL ROCHDALE FUNDS \| PAGE 1

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Government Money Market Fund |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000) | Face Amount (000) | Value (000) |
|  **U.S. Government Agency Obligations [45.5%]** | **U.S. Government Agency Obligations [45.5%]** | **U.S. Government Agency Obligations [45.5%]** | **U.S. Government Agency Obligations [45.5%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Federal Farm Credit Bank (FFCB) [9.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Federal Farm Credit Bank (FFCB) [9.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Federal Farm Credit Bank (FFCB) [9.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Federal Farm Credit Bank (FFCB) [9.6%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FFCB |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.325%, SOFR + 0.125%, 07/09/26(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.325%, SOFR + 0.125%, 07/09/26(A) | $100000 | $100000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.325%, SOFR + 0.125%, 08/06/26(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.325%, SOFR + 0.125%, 08/06/26(A) | 150000 | 150000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.335%, SOFR + 0.135%, 09/16/26(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.335%, SOFR + 0.135%, 09/16/26(A) | 100000 | 100000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.335%, SOFR + 0.135%, 11/18/26(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.335%, SOFR + 0.135%, 11/18/26(A) | 215000 | 215000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.340%, SOFR + 0.140%, 12/02/26(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.340%, SOFR + 0.140%, 12/02/26(A) | 100000 | 100000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.335%, SOFR + 0.135%, 12/09/26(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.335%, SOFR + 0.135%, 12/09/26(A) | 150000 | 150000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Federal Home Loan Bank (FHLB) [32.9%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Federal Home Loan Bank (FHLB) [32.9%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Federal Home Loan Bank (FHLB) [32.9%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Federal Home Loan Bank (FHLB) [32.9%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FHLB |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.335%, SOFR + 0.135%, 12/11/26(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.335%, SOFR + 0.135%, 12/11/26(A) | 100000 | 100000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FHLB DN |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.226%, 10/10/25(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.226%, 10/10/25(B) | 150000 | 149842 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.281%, 10/15/25(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.281%, 10/15/25(B) | 333000 | 332452 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.265%, 10/29/25(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.265%, 10/29/25(B) | 150000 | 149510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.299%, 10/31/25(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.299%, 10/31/25(B) | 100000 | 99646 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.206%, 11/05/25(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.206%, 11/05/25(B) | 150000 | 149393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.197%, 11/07/25(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.197%, 11/07/25(B) | 100000 | 99573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.189%, 11/12/25(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.189%, 11/12/25(B) | 100000 | 99516 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.184%, 11/14/25(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.184%, 11/14/25(B) | 50000 | 49747 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.178%, 11/19/25(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.178%, 11/19/25(B) | 150000 | 149156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.003%, 11/25/25(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.003%, 11/25/25(B) | 200000 | 198787 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.100%, 11/28/25(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.100%, 11/28/25(B) | 250000 | 248365 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.066%, 12/05/25(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.066%, 12/05/25(B) | 200000 | 198547 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.991%, 12/10/25(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.991%, 12/10/25(B) | 40000 | 39693 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.949%, 12/17/25(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.949%, 12/17/25(B) | 200000 | 198327 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.907%, 12/24/25(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.907%, 12/24/25(B) | 100000 | 99097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.945%, 01/07/26(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.945%, 01/07/26(B) | 90000 | 89046 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.892%, 01/14/26(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.892%, 01/14/26(B) | 200000 | 197758 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.795%, 03/18/26(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.795%, 03/18/26(B) | 150000 | 147393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Federal National Mortgage Association (FNMA) [3.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Federal National Mortgage Association (FNMA) [3.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Federal National Mortgage Association (FNMA) [3.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Federal National Mortgage Association (FNMA) [3.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FNMA |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.340%, SOFR + 0.140%, 11/20/26(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.340%, SOFR + 0.140%, 11/20/26(A) | 54000 | 54000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FNMA DN |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.002%, 12/02/25(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.002%, 12/02/25(B) | 200000 | 198634 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Government Agency Obligations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Government Agency Obligations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Government Agency Obligations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Government Agency Obligations** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $3,863,482) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $3,863,482) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $3,863,482) | 3863482 |
|  **U.S. Treasury Obligations [33.6%]** | **U.S. Treasury Obligations [33.6%]** | **U.S. Treasury Obligations [33.6%]** | **U.S. Treasury Obligations [33.6%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United States Treasury Bills | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United States Treasury Bills |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.269%, 10/02/25(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.269%, 10/02/25(B) | $400000 | $399953 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.275%, 10/07/25(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.275%, 10/07/25(B) | 200000 | 199859 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.032%, 10/21/25(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.032%, 10/21/25(B) | 400000 | 399107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.292%, 10/23/25(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.292%, 10/23/25(B) | 100000 | 99740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.062%, 10/28/25(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.062%, 10/28/25(B) | 200000 | 199393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.035%, 11/06/25(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.035%, 11/06/25(B) | 400000 | 398394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.169%, 11/13/25(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.169%, 11/13/25(B) | 100000 | 99507 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.151%, 12/09/25(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.151%, 12/09/25(B) | 100000 | 99215 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.243%, 12/11/25(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.243%, 12/11/25(B) | 200000 | 198362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.922%, 12/18/25(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.922%, 12/18/25(B) | 200000 | 198317 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United States Treasury Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United States Treasury Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United States Treasury Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United States Treasury Notes |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/31/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/31/25 | 100000 | 100051 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.375%, 11/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.375%, 11/30/25 | 150000 | 149042 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 04/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 04/30/26 | 100000 | 100477 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 05/31/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 05/31/26 | 214000 | 215497 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Treasury Obligations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Treasury Obligations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Treasury Obligations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Treasury Obligations** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $2,856,914) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $2,856,914) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $2,856,914) | 2856914 |
|  **Short-Term Investments [3.6%]** | **Short-Term Investments [3.6%]** | **Short-Term Investments [3.6%]** | **Short-Term Investments [3.6%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Financial Square Funds - Government Fund, 4.032%\*\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Financial Square Funds - Government Fund, 4.032%\*\* | 184947720 | 184948 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley Institutional Liquidity Funds - Institutional Select, 4.050%\*\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley Institutional Liquidity Funds - Institutional Select, 4.050%\*\* | 121463623 | 121463 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Short-Term Investments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Short-Term Investments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Short-Term Investments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Short-Term Investments** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $306,411) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $306,411) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $306,411) | 306411 |
|  **Repurchase Agreements [15.9%]** | **Repurchase Agreements [15.9%]** | **Repurchase Agreements [15.9%]** | **Repurchase Agreements [15.9%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Barclays (C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Barclays (C) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.040%, dated 09/18/25, repurchased on 10/30/25, repurchase price $200,942,667 (collateralized by various U.S. Treasury obligations, par values ranging from $26,240,800-$110,139,600, 1.375%-4.000%, 01/15/2027-05/15/2033; with a total market value of $204,000,067) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.040%, dated 09/18/25, repurchased on 10/30/25, repurchase price $200,942,667 (collateralized by various U.S. Treasury obligations, par values ranging from $26,240,800-$110,139,600, 1.375%-4.000%, 01/15/2027-05/15/2033; with a total market value of $204,000,067) | 200000 | 200000 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 2

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Government Money Market Fund *(concluded)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000) | Face Amount (000) | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Barclays (C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Barclays (C) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.950%, dated 09/30/25, repurchased on 10/01/25, repurchase price $105,011,559 (collateralized by a U.S. Treasury obligation, par value 113,489,700, 1.250%, 05/31/2028; with a total market value of $107,100,079) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.950%, dated 09/30/25, repurchased on 10/01/25, repurchase price $105,011,559 (collateralized by a U.S. Treasury obligation, par value 113,489,700, 1.250%, 05/31/2028; with a total market value of $107,100,079) | 105000 | $105000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Barclays MBS (C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Barclays MBS (C) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, dated 09/30/25, repurchased on 10/01/25, repurchase price $100,011,148 (collateralized by various U.S. Treasury obligations, par values ranging from $2,725,000-$94,466,600, 2.000%-4.625%, 04/30/2031-08/20/2040; with a total market value of $102,000,028) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, dated 09/30/25, repurchased on 10/01/25, repurchase price $100,011,148 (collateralized by various U.S. Treasury obligations, par values ranging from $2,725,000-$94,466,600, 2.000%-4.625%, 04/30/2031-08/20/2040; with a total market value of $102,000,028) | 100000 | 100000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Daiwa (C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Daiwa (C) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, dated 09/30/25, repurchased on 10/01/25, repurchase price $41,004,608 (collateralized by various U.S. Treasury obligations, par values ranging from $112,301-$17,952,424, 1.625%-6.000%, 11/30/2026-05/01/2055; with a total market value of $42,160,382) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, dated 09/30/25, repurchased on 10/01/25, repurchase price $41,004,608 (collateralized by various U.S. Treasury obligations, par values ranging from $112,301-$17,952,424, 1.625%-6.000%, 11/30/2026-05/01/2055; with a total market value of $42,160,382) | 41000 | 41000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Daiwa MBS (C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Daiwa MBS (C) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.020%, dated 09/30/25, repurchased on 10/01/25, repurchase price $200,022,616 (collateralized by various U.S. Treasury obligations, par values ranging from $1,000-$64,736,715, 2.000%-6.500%, 02/28/2026-09/01/2055; with a total market value of $205,908,288) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.020%, dated 09/30/25, repurchased on 10/01/25, repurchase price $200,022,616 (collateralized by various U.S. Treasury obligations, par values ranging from $1,000-$64,736,715, 2.000%-6.500%, 02/28/2026-09/01/2055; with a total market value of $205,908,288) | 200000 | 200000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs (C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs (C) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.140%, dated 09/30/25, repurchased on 10/01/25, repurchase price $700,080,764 (collateralized by various U.S. Treasury obligations, par values ranging from $8,000-$82,198,000, 0.000%-6.750%, 10/29/2025-09/08/2045; with a total market value of $714,000,647) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.140%, dated 09/30/25, repurchased on 10/01/25, repurchase price $700,080,764 (collateralized by various U.S. Treasury obligations, par values ranging from $8,000-$82,198,000, 0.000%-6.750%, 10/29/2025-09/08/2045; with a total market value of $714,000,647) | 700000 | $700000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Repurchase Agreements** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Repurchase Agreements** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Repurchase Agreements** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Repurchase Agreements** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $1,346,000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $1,346,000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $1,346,000) | 1346000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Investments [98.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Investments [98.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Investments [98.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Investments [98.6%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $8,372,807) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $8,372,807) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $8,372,807) | $8372807 |

---

Percentages are based on net assets of $8,490,340 (000).

\*\* The rate reported is the 7-day effective yield as of September 30, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;(A) Variable or floating rate security.
 The rate shown is the effective interest rate as of period end. The rates for certain securities are not based on published reference
 rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the
 rates of underlying loans; or by adjusting periodically based on prevailing interest rates.

&nbsp;&nbsp;&nbsp;&nbsp;(B) Interest rate represents the
 security's effective yield at the time of purchase.

&nbsp;&nbsp;&nbsp;&nbsp;(C) Tri-party Repurchase Agreement.

DN — Discount Note

FFCB — Federal Farm Credit Bank

FHLB — Federal Home Loan Bank

FNMA — Federal National Mortgage Association

SOFR — Secured Overnight Financing Rate

The following is a summary of the inputs used as of September 30, 2025, in valuing the Fund's investments carried at value (000):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  Investments in Securities | Level 1 | Level 2 | Level 3 | Total |
| &nbsp;&nbsp;&nbsp; U.S. Government Agency Obligations | $— | $3863482 | $— | $3863482 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Obligations |  | 2856914 |  | 2856914 |
| &nbsp;&nbsp;&nbsp; Short-Term Investments | 306411 |  |  | 306411 |
| &nbsp;&nbsp;&nbsp; Repurchase Agreements |  | 1346000 |  | 1346000 |
|  Total Investments in Securities | $306411 | $8066396 | $— | $8372807 |

---

Amounts designated as "—" are either $0 or have been rounded to $0.

For more information on valuation inputs, see Note 2 — Significant Accounting Policies in the Notes to Financial Statements.

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 3

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Municipal High Income Fund |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000) | Face Amount (000) | Value (000) |
|  **Municipal Bonds [97.2%]** | **Municipal Bonds [97.2%]** | **Municipal Bonds [97.2%]** | **Municipal Bonds [97.2%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Alabama [2.8%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Alabama [2.8%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Alabama [2.8%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Alabama [2.8%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Black Belt Energy Gas District, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Black Belt Energy Gas District, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 02/01/32 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 02/01/32 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 05/01/56(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 05/01/56(A) | $5000 | $5201 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Black Belt Energy Gas District, Ser B, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Black Belt Energy Gas District, Ser B, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/32 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/32 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/01/55(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/01/55(A) | 5000 | 5406 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Black Belt Energy Gas District, Ser E, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Black Belt Energy Gas District, Ser E, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 02/01/35 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 02/01/35 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/01/55(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/01/55(A) | 1250 | 1347 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy Southeast A Cooperative District, Ser B-1, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy Southeast A Cooperative District, Ser B-1, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/01/31 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/01/31 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 04/01/54(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 04/01/54(A) | 1000 | 1120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hoover Industrial Development Board, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hoover Industrial Development Board, RB, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/01/29 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/01/29 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 10/01/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 10/01/49 | 4750 | 4799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mobile County, Industrial Development Authority, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mobile County, Industrial Development Authority, RB, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/20/34 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/20/34 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/01/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/01/54 | 1000 | 961 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tuscaloosa County, Industrial Development Authority, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tuscaloosa County, Industrial Development Authority, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/01/29 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/01/29 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 05/01/44(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 05/01/44(B) | 3000 | 2988 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Alabama** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Alabama** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Alabama** | 21822 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Arizona [2.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Arizona [2.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Arizona [2.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Arizona [2.3%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arizona State, Industrial Development Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arizona State, Industrial Development Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 03/01/32 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 03/01/32 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 03/01/55(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 03/01/55(B) | 2000 | 2002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arizona State, Industrial Development Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arizona State, Industrial Development Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 03/01/32 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 03/01/32 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 03/01/65(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 03/01/65(B) | 3000 | 2889 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arizona State, Industrial Development Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arizona State, Industrial Development Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/35 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/35 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 01/01/59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 01/01/59 | 375 | 345 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arizona State, Industrial Development Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arizona State, Industrial Development Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/01/28 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/01/28 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/43(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/43(B) | 310 | 296 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arizona State, Industrial Development Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arizona State, Industrial Development Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/15/29 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/15/29 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 07/15/56(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 07/15/56(B) | $225 | $157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maricopa County, Industrial Development Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maricopa County, Industrial Development Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/01/30 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/01/30 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 07/01/53(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 07/01/53(B) | 1400 | 1344 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Phoenix, Industrial Development Authority, Legacy Traditional School Projects, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Phoenix, Industrial Development Authority, Legacy Traditional School Projects, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/45(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/45(B) | 3300 | 3155 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pima County, Industrial Development Authority, Noah Webster School Project, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pima County, Industrial Development Authority, Noah Webster School Project, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 12/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 12/15/43 | 1500 | 1501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sierra Vista, Industrial Development Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sierra Vista, Industrial Development Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/15/30 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/15/30 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 06/15/53(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 06/15/53(B) | 5400 | 5360 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tempe, Industrial Development Authority, Mirrabella at ASU Project, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tempe, Industrial Development Authority, Mirrabella at ASU Project, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/01/27 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/01/27 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 10/01/52(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 10/01/52(B) | 1200 | 770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Arizona** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Arizona** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Arizona** | 17819 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Arkansas [0.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Arkansas [0.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Arkansas [0.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Arkansas [0.6%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arkansas State, Development Finance Authority, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arkansas State, Development Finance Authority, RB, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/26 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/26 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 09/01/49(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 09/01/49(B) | 4530 | 4338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **California [6.9%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **California [6.9%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **California [6.9%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **California [6.9%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California State, Community Choice Financing Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California State, Community Choice Financing Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/01/32 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/01/32 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 02/01/57(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 02/01/57(B) | 7500 | 4967 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California State, Community Choice Financing Authority, Ser B-1-GREEN, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California State, Community Choice Financing Authority, Ser B-1-GREEN, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/01/31 @ 101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/01/31 @ 101 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 02/01/52(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 02/01/52(A) | 3750 | 3844 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California State, Community Housing Agency, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California State, Community Housing Agency, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/01/31 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/01/31 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 02/01/56(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 02/01/56(B) | 3000 | 2433 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 4

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Municipal High Income Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000) | Face Amount (000) | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California State, Infrastructure & Economic Development Bank, Sub-Ser B, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California State, Infrastructure & Economic Development Bank, Sub-Ser B, RB, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/29 @ 105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/29 @ 105 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.500%, 01/01/65(A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.500%, 01/01/65(A)(B) | $3795 | $3474 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California State, Municipal Finance Authority, California Baptist University, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California State, Municipal Finance Authority, California Baptist University, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 11/01/45(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 11/01/45(B) | 4000 | 3997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California State, Municipal Finance Authority, Ser A, RB, AGM | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California State, Municipal Finance Authority, Ser A, RB, AGM |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/01/32 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/01/32 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 11/01/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 11/01/52 | 1000 | 1022 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California State, Municipal Finance Authority, Ser D, SPL Tax | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California State, Municipal Finance Authority, Ser D, SPL Tax |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/29 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/29 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 09/01/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 09/01/42 | 2000 | 2143 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California State, Pollution Control Financing Authority, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California State, Pollution Control Financing Authority, RB, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 07/01/32(B) (C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 07/01/32(B) (C) | 1275 | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California State, Pollution Control Financing Authority, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California State, Pollution Control Financing Authority, RB, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/01/33 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/01/33 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/34(B) | 1000 | 1089 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California State, Public Finance Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California State, Public Finance Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 03/01/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 03/01/34(B) | 1000 | 960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California State, Public Finance Authority, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California State, Public Finance Authority, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/31 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/31 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.200%, 06/01/44(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.200%, 06/01/44(B) | 2875 | 2762 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California State, School Finance Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California State, School Finance Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/01/32 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/01/32 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 08/01/42(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 08/01/42(B) | 50 | 52 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California State, School Finance Authority, View Park Elementary & Middle School Project, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California State, School Finance Authority, View Park Elementary & Middle School Project, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 10/01/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 10/01/49 | 1120 | 1104 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California State, School Finance Authority, View Park Elementary & Middle School Project, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California State, School Finance Authority, View Park Elementary & Middle School Project, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 10/01/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 10/01/44 | 1000 | 988 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California State, School Finance Authority, View Park Elementary & Middle School Project, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California State, School Finance Authority, View Park Elementary & Middle School Project, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 10/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 10/01/34 | $575 | $575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California State, Statewide Communities Development Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California State, Statewide Communities Development Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/28 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/28 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 12/01/58(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 12/01/58(B) | 1500 | 1493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California State, Statewide Communities Development Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California State, Statewide Communities Development Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/28 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/28 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 12/01/43(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 12/01/43(B) | 500 | 501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California State, Statewide Communities Development Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California State, Statewide Communities Development Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 12/01/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 12/01/44 | 4000 | 4000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City & County of San Francisco California Community Facilities District No. 2016-1, SPL Tax | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City & County of San Francisco California Community Facilities District No. 2016-1, SPL Tax |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/28 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/28 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 09/01/42(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 09/01/42(B) | 2250 | 2052 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City & County of San Francisco California Infrastructure & Revitalization Financing Dist No. 1, TA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City & County of San Francisco California Infrastructure & Revitalization Financing Dist No. 1, TA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/32 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/32 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 09/01/52(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 09/01/52(B) | 1320 | 1260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CMFA Special Finance Agency VII, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CMFA Special Finance Agency VII, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/01/31 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/01/31 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 08/01/56(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 08/01/56(B) | 5500 | 3712 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CSCDA Community Improvement Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CSCDA Community Improvement Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/01/32 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/01/32 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 05/01/57(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 05/01/57(B) | 3430 | 2313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CSCDA Community Improvement Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CSCDA Community Improvement Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/31 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/31 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 06/01/47(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 06/01/47(B) | 1090 | 751 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CSCDA Community Improvement Authority, Ser W, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CSCDA Community Improvement Authority, Ser W, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/32 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/32 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 12/01/49(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 12/01/49(B) | 1000 | 666 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 5

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Municipal High Income Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000) | Face Amount (000) | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Orange County Community Facilities District, Ser A, SPL Tax | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Orange County Community Facilities District, Ser A, SPL Tax |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/15/29 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/15/29 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 08/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 08/15/52 | $3200 | $3247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; San Francisco City & County Airport Comm-San Francisco International Airport, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; San Francisco City & County Airport Comm-San Francisco International Airport, RB, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/01/34 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/01/34 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 05/01/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 05/01/44 | 2000 | 2094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total California** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total California** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total California** | 51513 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Colorado [10.7%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Colorado [10.7%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Colorado [10.7%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Colorado [10.7%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9th Avenue Metropolitan District No. 2, GO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9th Avenue Metropolitan District No. 2, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 102 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/01/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/01/48 | 1000 | 966 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amber Creek, Metropolitan District, Ser A, GO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amber Creek, Metropolitan District, Ser A, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 101 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 12/01/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 12/01/47 | 1041 | 1005 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amber Creek, Metropolitan District, Ser A, GO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amber Creek, Metropolitan District, Ser A, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 101 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/01/37 | 648 | 643 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banning Lewis Ranch Metropolitan District No. 8, GO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banning Lewis Ranch Metropolitan District No. 8, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/26 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/26 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 12/01/51(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 12/01/51(B) | 3500 | 3052 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Broadway Station Metropolitan District No. 2, Ser A, GO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Broadway Station Metropolitan District No. 2, Ser A, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 102 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/01/35 | 729 | 655 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Broadway Station Metropolitan District No. 3, GO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Broadway Station Metropolitan District No. 3, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 102 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/01/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/01/49 | 1500 | 1145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Buffalo Highlands Metropolitan District, Ser A, GO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Buffalo Highlands Metropolitan District, Ser A, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/23/25 @ 102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/23/25 @ 102 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 12/01/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 12/01/48 | 1775 | 1720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Canyons Metropolitan District No. 5, Sub-Ser B, GO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Canyons Metropolitan District No. 5, Sub-Ser B, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/29 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/29 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 12/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 12/15/54 | 1000 | 1005 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chambers Highpoint Metropolitan District No. 2, GO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chambers Highpoint Metropolitan District No. 2, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/26 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/26 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/01/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/01/41 | 515 | 451 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chambers Highpoint Metropolitan District No. 2, GO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chambers Highpoint Metropolitan District No. 2, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/26 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/26 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/01/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/01/51 | $1505 | $1187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colorado State, Educational & Cultural Facilities Authority, Aspen Ridge School Project, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colorado State, Educational & Cultural Facilities Authority, Aspen Ridge School Project, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 07/01/46(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 07/01/46(B) | 1930 | 1893 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colorado State, Educational & Cultural Facilities Authority, Aspen Ridge School Project, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colorado State, Educational & Cultural Facilities Authority, Aspen Ridge School Project, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/36(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/36(B) | 1415 | 1415 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colorado State, Health Facilities Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colorado State, Health Facilities Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/15/31 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/15/31 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/15/50 | 1950 | 1715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colorado State, Health Facilities Authority, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colorado State, Health Facilities Authority, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/15/28 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/15/28 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 05/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 05/15/35 | 1170 | 1065 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colorado State, Health Facilities Authority, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colorado State, Health Facilities Authority, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/15/28 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/15/28 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 05/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 05/15/49 | 3000 | 2182 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colorado State, Health Facilities Authority, Ser A-, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colorado State, Health Facilities Authority, Ser A-, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/01/29 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/01/29 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 08/01/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 08/01/44 | 4155 | 3704 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colorado State, High Performance Transportation Enterprise, U.S. 36 & I-25 Managed Lanes Project, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colorado State, High Performance Transportation Enterprise, U.S. 36 & I-25 Managed Lanes Project, RB, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 01/01/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 01/01/44 | 2000 | 2001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Constitution Heights Metropolitan District, GO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Constitution Heights Metropolitan District, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/01/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/01/49 | 1255 | 1164 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Denver, International Business Center Metropolitan District No. 1, Ser A, GO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Denver, International Business Center Metropolitan District No. 1, Ser A, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/23/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/23/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/01/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/01/48 | 850 | 711 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Eastern Hills Metropolitan District No. 10, Ser A, GO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Eastern Hills Metropolitan District No. 10, Ser A, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/30 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/30 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 12/01/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 12/01/55 | 3000 | 3044 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 6

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Municipal High Income Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000) | Face Amount (000) | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Elora Metropolitan District, Ser A, GO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Elora Metropolitan District, Ser A, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/30 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/30 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 12/01/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 12/01/55 | $3000 | $3049 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Erie Highlands, Metropolitan District No. 1, GO, BAM | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Erie Highlands, Metropolitan District No. 1, GO, BAM |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/30 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/30 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 12/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 12/01/40 | 900 | 641 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Four Corners Business Improvement District, GO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Four Corners Business Improvement District, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/27 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/27 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 12/01/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 12/01/52 | 1130 | 1133 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Green Valley Ranch East Metropolitan District No. 6, Ser A, GO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Green Valley Ranch East Metropolitan District No. 6, Ser A, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/23/25 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/23/25 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 12/01/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 12/01/50 | 1195 | 1207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Greenways Metropolitan District No. 1, Ser A, GO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Greenways Metropolitan District No. 1, Ser A, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/26 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/26 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 12/01/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 12/01/51 | 3685 | 2834 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Haymeadow Metropolitan District No. 1, Ser A, GO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Haymeadow Metropolitan District No. 1, Ser A, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 03/01/30 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 03/01/30 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 12/01/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 12/01/54 | 1000 | 1019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jefferson Center, Metropolitan District No. 1, Ser A-2, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jefferson Center, Metropolitan District No. 1, Ser A-2, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 102 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 12/01/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 12/01/47 | 250 | 224 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jefferson Center, Metropolitan District No. 1, Ser A-2, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jefferson Center, Metropolitan District No. 1, Ser A-2, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 102 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 12/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 12/01/40 | 575 | 525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lafferty Canyon Metropolitan District, Ser A, GO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lafferty Canyon Metropolitan District, Ser A, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 03/01/30 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 03/01/30 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 12/01/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 12/01/55 | 1445 | 1419 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lanterns Metropolitan District No. 3, Sub-Ser A-1, GO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lanterns Metropolitan District No. 3, Sub-Ser A-1, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/28 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/28 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 12/01/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 12/01/53 | 2300 | 2373 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Legato Community Authority, Ser A-1, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Legato Community Authority, Ser A-1, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/26 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/26 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/01/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/01/51 | 1025 | 870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Legato Community Authority, Ser A-2, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Legato Community Authority, Ser A-2, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/26 @ 101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/26 @ 101 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 12/01/51(D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 12/01/51(D) | 7335 | 5701 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mineral Business Improvement District, Ser A, GO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mineral Business Improvement District, Ser A, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/29 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/29 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 12/01/54(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 12/01/54(B) | 1250 | 1246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Newlin Crossing Metropolitan District, Ser A, GO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Newlin Crossing Metropolitan District, Ser A, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/29 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/29 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 12/01/54(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 12/01/54(B) | $1145 | $1103 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; North Holly, Metropolitan District, Ser A, GO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; North Holly, Metropolitan District, Ser A, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/23/25 @ 102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/23/25 @ 102 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 12/01/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 12/01/48 | 1755 | 1738 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; North Range Metropolitan District No. 3, Ser A, GO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; North Range Metropolitan District No. 3, Ser A, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/25 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/25 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 12/01/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 12/01/50 | 3000 | 2991 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Parterre Metropolitan District No. 5, Ser A, GO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Parterre Metropolitan District No. 5, Ser A, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/30 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/30 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 12/01/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 12/01/55 | 1500 | 1562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Poudre Heights Valley Metropolitan District, Ser A, GO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Poudre Heights Valley Metropolitan District, Ser A, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/29 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/29 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 12/01/54(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 12/01/54(B) | 975 | 903 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rampart Range Metropolitan District No. 5, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rampart Range Metropolitan District No. 5, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/01/26 @ 102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/01/26 @ 102 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/01/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/01/51 | 3725 | 3021 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Red Barn Metropolitan District, Ser A, GO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Red Barn Metropolitan District, Ser A, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 03/01/30 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 03/01/30 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 12/01/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 12/01/55 | 1800 | 1800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Regional Transportation District, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Regional Transportation District, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 07/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 07/15/40 | 500 | 473 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senac South Metropolitan District No. 1, Ser A, GO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senac South Metropolitan District No. 1, Ser A, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/26 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/26 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 12/01/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 12/01/51 | 5000 | 4678 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Southglenn, Metropolitan District, GO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Southglenn, Metropolitan District, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/01/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/01/46 | 1551 | 1446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spring Hill, Metropolitan District No. 3, Ser A, GO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spring Hill, Metropolitan District No. 3, Ser A, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/27 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/27 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 12/01/52(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 12/01/52(B) | 500 | 503 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sterling Ranch Community Authority Board, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sterling Ranch Community Authority Board, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/29 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/29 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 12/01/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 12/01/54 | 1000 | 1027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vermilion Creek Metropolitan District No. 3, GO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vermilion Creek Metropolitan District No. 3, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/30 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/30 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 12/01/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 12/01/55 | 3425 | 3476 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 7

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Municipal High Income Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000) | Face Amount (000) | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Village at Dry Creek Metropolitan District No. 2, GO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Village at Dry Creek Metropolitan District No. 2, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 102 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 12/01/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 12/01/44 | $624 | $597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Water Valley, Metropolitan District No. 02, GO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Water Valley, Metropolitan District No. 02, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/26 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/26 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/01/33 | 250 | 235 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Westcreek Metropolitan District No. 2, Ser A, GO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Westcreek Metropolitan District No. 2, Ser A, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/23/25 @ 102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/23/25 @ 102 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 12/01/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 12/01/48 | 1283 | 1243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wyndham Hill Metropolitan District No. 2, Ser A, GO, BAM | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wyndham Hill Metropolitan District No. 2, Ser A, GO, BAM |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/28 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/28 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/01/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/01/49 | 1500 | 1356 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Colorado** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Colorado** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Colorado** | 81116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **District of Columbia [0.7%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **District of Columbia [0.7%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **District of Columbia [0.7%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **District of Columbia [0.7%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; District of Columbia, Ser A, GO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; District of Columbia, Ser A, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 04/15/29 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 04/15/29 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/15/39 | 5000 | 4961 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Florida [7.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Florida [7.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Florida [7.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Florida [7.4%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alachua County, Health Facilities Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alachua County, Health Facilities Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 11/15/49(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 11/15/49(C) | 1610 | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Trust Agency, Pineapple Cove Classical Academy, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Trust Agency, Pineapple Cove Classical Academy, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/29 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/29 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 07/01/54(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 07/01/54(B) | 1500 | 1330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Trust Agency, Pineapple Cove Classical Academy, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Trust Agency, Pineapple Cove Classical Academy, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/29 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/29 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 07/01/39(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 07/01/39(B) | 1500 | 1439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Trust Agency, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Trust Agency, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/15/26 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/15/26 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/15/41(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/15/41(B) | 1750 | 1471 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Trust Agency, Renaissance Charter School Project, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Trust Agency, Renaissance Charter School Project, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/15/26 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/15/26 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/15/39(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/15/39(B) | 3610 | 3442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Trust Agency, Renaissance Charter School Project, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Trust Agency, Renaissance Charter School Project, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/15/26 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/15/26 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/15/49(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/15/49(B) | 2750 | 2444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charlotte County, Industrial Development Authority, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charlotte County, Industrial Development Authority, RB, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/01/27 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/01/27 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/01/49(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/01/49(B) | $1915 | $1850 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charlotte County, Industrial Development Authority, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charlotte County, Industrial Development Authority, RB, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/01/31 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/01/31 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/01/41(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/01/41(B) | 905 | 820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Miami-Dade Florida Aviation Revenue, Ser A, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Miami-Dade Florida Aviation Revenue, Ser A, RB, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/01/29 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/01/29 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/01/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/01/49 | 2000 | 2004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Monroe Florida Airport Revenue, Ser 202, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Monroe Florida Airport Revenue, Ser 202, RB, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/01/32 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/01/32 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/01/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/01/52 | 750 | 737 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Okaloosa Florida, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Okaloosa Florida, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/15/32 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/15/32 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 05/15/55(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 05/15/55(B) | 1000 | 1011 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; East Nassau Stewardship District, SPA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; East Nassau Stewardship District, SPA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/01/35 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/01/35 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 05/01/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 05/01/45 | 3205 | 3284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Florida Local Government Finance Commission, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Florida Local Government Finance Commission, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/15/32 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/15/32 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 11/15/55(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 11/15/55(B) | 1000 | 1030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Florida State, Development Finance, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Florida State, Development Finance, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/15/34 @ 101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/15/34 @ 101 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 06/15/50(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 06/15/50(B) | 2600 | 2667 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Florida State, Development Finance, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Florida State, Development Finance, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/15/34 @ 101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/15/34 @ 101 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 06/15/45(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 06/15/45(B) | 1500 | 1543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Florida State, Development Finance, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Florida State, Development Finance, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/15/32 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/15/32 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 06/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 06/15/47 | 2750 | 2818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Florida State, Development Finance, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Florida State, Development Finance, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/27 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/27 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 06/01/50(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 06/01/50(B) | 100 | 93 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Florida State, Development Finance, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Florida State, Development Finance, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/28 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/28 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/01/35(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/01/35(B) | 200 | 206 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 8

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Municipal High Income Fund *(continued)* |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Description | Face Amount (000) | Face Amount (000) | Value (000) | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Florida State, Development Finance, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Florida State, Development Finance, RB |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/15/27 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/15/27 @ 100 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 09/15/50(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 09/15/50(B) | 450 | $| 385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Florida State, Development Finance, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Florida State, Development Finance, RB |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/28 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/28 @ 103 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/01/46(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/01/46(B) | 300 |  | 227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Florida State, Development Finance, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Florida State, Development Finance, RB, AMT |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 04/02/26 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 04/02/26 @ 100 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 07/01/32(A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 07/01/32(A)(B) | 2970 |  | 3000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Florida State, Development Finance, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Florida State, Development Finance, RB, AMT |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 08/01/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 08/01/29(B) | 1375 |  | 1429 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Florida State, Development Finance, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Florida State, Development Finance, RB, AMT |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 102 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 05/01/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 05/01/29(B) | 3500 |  | 3546 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Florida State, Development Finance, Renaissance Charter School Project, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Florida State, Development Finance, Renaissance Charter School Project, Ser A, RB |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 06/15/44(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 06/15/44(B) | 3000 |  | 3000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Florida State, Development Finance, Renaissance Charter School Project, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Florida State, Development Finance, Renaissance Charter School Project, Ser A, RB |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 06/15/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 06/15/34(B) | 2110 |  | 2112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lakewood Ranch Stewardship District, SPA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lakewood Ranch Stewardship District, SPA |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/01/35 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/01/35 @ 100 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 05/01/56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 05/01/56 | 1500 |  | 1530 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lakewood Ranch Stewardship District, SPA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lakewood Ranch Stewardship District, SPA |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/01/35 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/01/35 @ 100 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 05/01/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 05/01/45 | 1000 |  | 1020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lakewood Ranch, Stewardship District, SPA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lakewood Ranch, Stewardship District, SPA |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/01/33 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/01/33 @ 100 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 05/01/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 05/01/43 | 1000 |  | 1054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lakewood Ranch, Stewardship District, SPA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lakewood Ranch, Stewardship District, SPA |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 05/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 05/01/33 | 500 |  | 533 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lakewood Ranch, Stewardship District, SPA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lakewood Ranch, Stewardship District, SPA |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/01/27 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/01/27 @ 100 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 05/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 05/01/37 | 1810 |  | 1836 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Miami-Dade County, Industrial Development Authority, Pinecrest Academy Project, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Miami-Dade County, Industrial Development Authority, Pinecrest Academy Project, RB |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 09/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 09/15/44 | 2500 |  | 2383 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Miami-Dade County, Industrial Development Authority, Youth CO-OP Charter Schools Project, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Miami-Dade County, Industrial Development Authority, Youth CO-OP Charter Schools Project, Ser A, RB |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 09/15/35(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 09/15/35(B) | 1605 | $| 1605 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Palm Beach County Educational Facilities Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Palm Beach County Educational Facilities Authority, RB |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 04/01/34 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 04/01/34 @ 100 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 10/01/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 10/01/53 | 845 |  | 830 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Village Community Development District No. 14, SPA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Village Community Development District No. 14, SPA |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/01/30 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/01/30 @ 100 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 05/01/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 05/01/42 | 2415 |  | 2471 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Village Community Development District No. 15, SPA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Village Community Development District No. 15, SPA |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/01/32 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/01/32 @ 100 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 05/01/55(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 05/01/55(B) | 1000 |  | 948 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Village Community Development District No. 15, SPA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Village Community Development District No. 15, SPA |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/01/32 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/01/32 @ 100 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 05/01/44(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 05/01/44(B) | 500 |  | 475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Florida** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Florida** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Florida** |  | 56597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Georgia [1.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Georgia [1.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Georgia [1.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Georgia [1.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Georgia [1.5%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Atlanta Georgia Airport Passenger Facility Charge, Sub-Ser, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Atlanta Georgia Airport Passenger Facility Charge, Sub-Ser, RB, AMT |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/01/29 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/01/29 @ 100 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 07/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 07/01/35 | 4000 |  | 4027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gainesville & Hall County, Development Authority, Riverside Military Academy, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gainesville & Hall County, Development Authority, Riverside Military Academy, RB |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 03/01/27 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 03/01/27 @ 100 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 03/01/47(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 03/01/47(C) | 4000 |  | 2000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Main Street Natural Gas, Ser E, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Main Street Natural Gas, Ser E, RB |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/32 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/32 @ 100 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 05/01/55(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 05/01/55(A) | 5000 |  | 5466 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Georgia** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Georgia** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Georgia** |  | 11493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Idaho [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Idaho [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Idaho [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Idaho [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Idaho [0.3%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Idaho Falls Auditorium District, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Idaho Falls Auditorium District, RB |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/15/26 @ 102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/15/26 @ 102 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 05/15/51(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 05/15/51(B) | 2250 |  | 2112 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 9

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Municipal High Income Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000) | Face Amount (000) | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Illinois [9.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Illinois [9.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Illinois [9.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Illinois [9.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aurora, Tax Increase Revenue, Ser A, TA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aurora, Tax Increase Revenue, Ser A, TA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/30/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/30/27 | $400 | $404 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bridgeview Village, Ser A, GO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bridgeview Village, Ser A, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 12/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 12/01/35 | 2000 | 2002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chicago, Board of Education, Ser B, GO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chicago, Board of Education, Ser B, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/27 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/27 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 12/01/42(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 12/01/42(B) | 2500 | 2554 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chicago, O'Hare International Airport, Ser A, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chicago, O'Hare International Airport, Ser A, RB, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/29 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/29 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 01/01/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 01/01/48 | 6300 | 6308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chicago, Ser A, GO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chicago, Ser A, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/27 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/27 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 01/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 01/01/38 | 5000 | 5097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State, Finance Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State, Finance Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/15/29 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/15/29 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 05/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 05/15/42 | 1000 | 1062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State, Finance Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State, Finance Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/15/29 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/15/29 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 05/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 05/15/47 | 1000 | 1045 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State, Finance Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State, Finance Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/30 @ 102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/30 @ 102 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 01/01/48(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 01/01/48(B) | 4180 | 4129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State, Finance Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State, Finance Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/32 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/32 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 03/01/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 03/01/52 | 830 | 739 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State, Finance Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State, Finance Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 04/01/31 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 04/01/31 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/01/32 | 400 | 352 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State, Finance Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State, Finance Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 04/01/31 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 04/01/31 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/01/33 | 350 | 301 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State, Finance Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State, Finance Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 04/01/31 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 04/01/31 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/01/38 | 230 | 176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State, Finance Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State, Finance Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/01/30 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/01/30 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/01/40 | 4250 | 3925 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State, Finance Authority, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State, Finance Authority, RB, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/33 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/33 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 09/01/42(A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 09/01/42(A)(B) | $1500 | $1664 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State, Finance Authority, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State, Finance Authority, RB, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/03/30 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/03/30 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 09/01/52(A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 09/01/52(A)(B) | 1500 | 1613 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State, Finance Authority, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State, Finance Authority, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/01/28 @ 101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/01/28 @ 101 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 04/01/38(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 04/01/38(B) | 2055 | 2070 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State, Finance Authority, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State, Finance Authority, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/23/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/23/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 11/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 11/15/38 | 1010 | 1010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State, Finance Authority, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State, Finance Authority, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/01/26 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/01/26 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 11/01/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 11/01/49 | 2000 | 1385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State, Finance Authority, Ser C-ASCENSION, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State, Finance Authority, Ser C-ASCENSION, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-Refunded @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-Refunded @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 02/15/27(E) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 02/15/27(E) | 330 | 341 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State, Finance Authority, Ser C-ASCENSION, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State, Finance Authority, Ser C-ASCENSION, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-Refunded @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-Refunded @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 02/15/27(E) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 02/15/27(E) | 480 | 496 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State, Finance Authority, Ser C-ASCENSION, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State, Finance Authority, Ser C-ASCENSION, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 02/15/27 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 02/15/27 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 02/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 02/15/36 | 1605 | 1637 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State, Finance Authority, Ser C-ASCENSION, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State, Finance Authority, Ser C-ASCENSION, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 02/15/27 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 02/15/27 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 02/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 02/15/41 | 520 | 526 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State, Finance Authority, Ser S, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State, Finance Authority, Ser S, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/01/37 | 2425 | 2275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State, Finance Authority, Wesleyan University, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State, Finance Authority, Wesleyan University, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/26 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/26 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 09/01/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 09/01/41 | 5140 | 4431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State, Housing Development Authority, Stonebridge Gurnee Project, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State, Housing Development Authority, Stonebridge Gurnee Project, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/26 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/26 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 01/01/56(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 01/01/56(B) | 5970 | 5551 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 10

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Municipal High Income Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000) | Face Amount (000) | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morton Grove, Tax Increment Revenue, TA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morton Grove, Tax Increment Revenue, TA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/26 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/26 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 01/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 01/01/39 | $2000 | $1951 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morton Grove, Tax Increment Revenue, TA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morton Grove, Tax Increment Revenue, TA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/26 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/26 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 01/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 01/01/29 | 535 | 535 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Southwestern Illinois, Development Authority, Collinsville Project, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Southwestern Illinois, Development Authority, Collinsville Project, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 03/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.350%, 03/01/31 | 75 | 56 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Upper Illinois River Valley Development Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Upper Illinois River Valley Development Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/28 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/28 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/01/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/01/48 | 2000 | 2000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Village of Bolingbrook, Special Service Area No. 1, SPL Tax | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Village of Bolingbrook, Special Service Area No. 1, SPL Tax |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 03/01/28 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 03/01/28 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 03/01/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 03/01/41 | 4500 | 4518 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Village of Gilberts, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Village of Gilberts, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/18/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/18/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 11/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 11/15/34 | 1731 | 1699 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Village of Hodgkins, Redevelopment Project Area #4, TA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Village of Hodgkins, Redevelopment Project Area #4, TA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/27 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/27 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 01/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 01/01/37 | 4285 | 4286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Village of Lincolnwood Il, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Village of Lincolnwood Il, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/10/26 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/10/26 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.820%, 01/01/41(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.820%, 01/01/41(B) | 415 | 392 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Village of Lincolnwood Il, Ser B, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Village of Lincolnwood Il, Ser B, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/29/30 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/29/30 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 12/01/43(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 12/01/43(B) | 700 | 704 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Village of Matteson Illinois, TA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Village of Matteson Illinois, TA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/26 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/26 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 12/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 12/01/35 | 750 | 767 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Village of Villa Park Illinois, TA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Village of Villa Park Illinois, TA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/31/28 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/31/28 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 12/31/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 12/31/38 | 1680 | 1425 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Illinois** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Illinois** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Illinois** | 69426 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Indiana [2.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Indiana [2.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Indiana [2.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Indiana [2.6%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Anderson Indiana, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Anderson Indiana, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/27 @ 102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/27 @ 102 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 01/01/40(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 01/01/40(B) | 2745 | 2420 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indiana State, Finance Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indiana State, Finance Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/15/27 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/15/27 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 08/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 08/15/51 | $5000 | $5026 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indiana State, Finance Authority, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indiana State, Finance Authority, RB, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/01/30 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/01/30 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 05/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 05/01/39 | 1750 | 1944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indiana State, Housing & Community Development Authority, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indiana State, Housing & Community Development Authority, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 04/01/29 @ 102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 04/01/29 @ 102 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 04/01/41(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 04/01/41(B) | 5750 | 4898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indianapolis Local Public Improvement Bond Bank, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indianapolis Local Public Improvement Bond Bank, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 03/01/33 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 03/01/33 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 03/01/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 03/01/53 | 600 | 622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lafayette City, Finance Authority, Glasswater Creek Project, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lafayette City, Finance Authority, Glasswater Creek Project, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/01/26 @ 101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/01/26 @ 101 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 01/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 01/01/37 | 3310 | 3218 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terre Haute, Westminster Village Project, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terre Haute, Westminster Village Project, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 08/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 08/01/39 | 2355 | 1905 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Indiana** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Indiana** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Indiana** | 20033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Iowa [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Iowa [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Iowa [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Iowa [0.3%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Iowa State, Finance Authority, Child Serve Project, Ser B, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Iowa State, Finance Authority, Child Serve Project, Ser B, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/01/36 | 2000 | 1997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Kansas [0.7%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Kansas [0.7%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Kansas [0.7%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Kansas [0.7%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; University of Kansas Hospital Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; University of Kansas Hospital Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-Refunded @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-Refunded @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 03/01/27(E) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 03/01/27(E) | 1330 | 1357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wyandotte County, Kansas City Unified Government, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wyandotte County, Kansas City Unified Government, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/23/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/23/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 09/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 09/01/32 | 4080 | 3899 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Kansas** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Kansas** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Kansas** | 5256 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 11

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Municipal High Income Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000) | Face Amount (000) | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Kentucky [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Kentucky [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Kentucky [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Kentucky [0.2%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kentucky State, Economic Development Finance Authority, Masonic Home Independent Living, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kentucky State, Economic Development Finance Authority, Masonic Home Independent Living, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/15/26 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/15/26 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 05/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 05/15/46 | $2000 | $1617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Louisiana [—%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Louisiana [—%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Louisiana [—%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Louisiana [—%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Louisiana State, Public Facilities Authority, Pellets Project, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Louisiana State, Public Facilities Authority, Pellets Project, RB, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.500%, 07/01/39(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.500%, 07/01/39(C) | 1435 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Louisiana State, Public Facilities Authority, Pellets Project, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Louisiana State, Public Facilities Authority, Pellets Project, RB, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 07/01/24(B) (C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 07/01/24(B) (C) | 1319 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Louisiana State, Public Facilities Authority, Pellets Project, Ser A, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Louisiana State, Public Facilities Authority, Pellets Project, Ser A, RB, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 07/01/39(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 07/01/39(C) | 3474 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Louisiana** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Louisiana** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Louisiana** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Maryland [3.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Maryland [3.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Maryland [3.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Maryland [3.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Baltimore, Harbor Point Project, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Baltimore, Harbor Point Project, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/26 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/26 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/01/36 | 1000 | 1005 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Baltimore, Sub-Ser, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Baltimore, Sub-Ser, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/31 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/31 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/01/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/01/51 | 800 | 784 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brunswick, SPL Tax | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brunswick, SPL Tax |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/29 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/29 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/36 | 1550 | 1569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brunswick, SPL Tax | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brunswick, SPL Tax |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/29 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/29 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 07/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 07/01/29 | 780 | 780 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Howard County, Downtown Columbia Project, Ser A, TA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Howard County, Downtown Columbia Project, Ser A, TA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 02/15/26 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 02/15/26 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 02/15/47(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 02/15/47(B) | 1250 | 1140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Howard County, Downtown Columbia Project, Ser A, TA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Howard County, Downtown Columbia Project, Ser A, TA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 02/15/26 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 02/15/26 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 02/15/39(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 02/15/39(B) | 1000 | 963 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maryland State, Economic Development, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maryland State, Economic Development, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 03/27/30 @ 105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 03/27/30 @ 105 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/48(A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/48(A)(B) | 1000 | 1032 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maryland State, Economic Development, TA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maryland State, Economic Development, TA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/30 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/30 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 09/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 09/01/40 | $875 | $804 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maryland State, Economic Development, TA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maryland State, Economic Development, TA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/30 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/30 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 09/01/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 09/01/50 | 875 | 726 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maryland State, Health & Higher Educational Facilities Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maryland State, Health & Higher Educational Facilities Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/01/35 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/01/35 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 07/01/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 07/01/52 | 5000 | 5210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prince George's County, TA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prince George's County, TA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/01/28 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/01/28 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 07/01/48(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 07/01/48(B) | 2000 | 2002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prince George's County, TA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prince George's County, TA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/01/28 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/01/28 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 07/01/39(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 07/01/39(B) | 1000 | 1002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of Maryland Department of Transportation, RB, AG, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of Maryland Department of Transportation, RB, AG, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/01/34 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/01/34 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 08/01/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 08/01/49 | 3000 | 3140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Westminster, Luther Village Millers Grant Project, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Westminster, Luther Village Millers Grant Project, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 07/01/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 07/01/44 | 1780 | 1780 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Westminster, Luther Village Millers Grant Project, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Westminster, Luther Village Millers Grant Project, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 07/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 07/01/39 | 750 | 750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Westminster, Luther Village Millers Grant Project, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Westminster, Luther Village Millers Grant Project, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 07/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 07/01/34 | 1115 | 1116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Maryland** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Maryland** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Maryland** | 23803 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Massachusetts [1.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Massachusetts [1.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Massachusetts [1.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Massachusetts [1.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Massachusetts State, Development Finance Agency, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Massachusetts State, Development Finance Agency, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/01/28 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/01/28 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/51(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/51(B) | 3500 | 2825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Massachusetts State, Development Finance Agency, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Massachusetts State, Development Finance Agency, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/01/28 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/01/28 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/56(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/56(B) | 910 | 717 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 12

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Municipal High Income Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000) | Face Amount (000) | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Massachusetts State, Development Finance Agency, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Massachusetts State, Development Finance Agency, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/01/26 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/01/26 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/01/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/01/43 | $4905 | $4583 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Massachusetts** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Massachusetts** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Massachusetts** | 8125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Michigan [1.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Michigan [1.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Michigan [1.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Michigan [1.5%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Detroit City, GO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Detroit City, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 04/01/28 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 04/01/28 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 04/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 04/01/38 | 625 | 638 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kalamazoo Economic Development, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kalamazoo Economic Development, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/15/26 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/15/26 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 05/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 05/15/37 | 2450 | 2466 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kalamazoo Economic Development, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kalamazoo Economic Development, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/15/26 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/15/26 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 05/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 05/15/42 | 1300 | 1261 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kalamazoo Economic Development, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kalamazoo Economic Development, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/15/28 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/15/28 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 08/15/51(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 08/15/51(B) | 1505 | 1194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Michigan State, Finance Authority, Old Redford School Project, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Michigan State, Finance Authority, Old Redford School Project, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 12/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 12/01/40 | 3745 | 3592 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Michigan State, Public Educational Facilities Authority, Old Redford Project, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Michigan State, Public Educational Facilities Authority, Old Redford Project, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 12/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 12/01/30 | 1585 | 1585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Michigan State, Strategic Fund, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Michigan State, Strategic Fund, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/15/28 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/15/28 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 08/15/41(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 08/15/41(B) | 895 | 785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Michigan** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Michigan** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Michigan** | 11521 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Minnesota [1.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Minnesota [1.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Minnesota [1.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Minnesota [1.2%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Anoka, Housing Revenue Authority, Homestead Project, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Anoka, Housing Revenue Authority, Homestead Project, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 102 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 11/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 11/01/35 | 3000 | 2862 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bethel, Senior Housing Revenue, Lodge at Lakes at Stillwater Project, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bethel, Senior Housing Revenue, Lodge at Lakes at Stillwater Project, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 06/01/58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 06/01/58 | 2840 | 2422 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Minneapolis State, Riverton Community Housing Project, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Minneapolis State, Riverton Community Housing Project, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 101 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 08/01/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 08/01/53 | $500 | $452 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Minneapolis State, Riverton Community Housing Project, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Minneapolis State, Riverton Community Housing Project, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 101 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 08/01/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 08/01/43 | 1600 | 1457 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Minneapolis-St. Paul Metropolitan Airports Commission, Sub-Ser, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Minneapolis-St. Paul Metropolitan Airports Commission, Sub-Ser, RB, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/34 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/34 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 01/01/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 01/01/42 | 1500 | 1593 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Minnesota** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Minnesota** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Minnesota** | 8786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Missouri [2.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Missouri [2.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Missouri [2.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Missouri [2.4%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hanley, Transportation Development, Eager Road Transportation Development District, Ser A, SPA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hanley, Transportation Development, Eager Road Transportation Development District, Ser A, SPA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 03/01/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 03/01/42 | 985 | 816 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hanley, Transportation Development, Eager Road Transportation Development District, Ser A, SPA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hanley, Transportation Development, Eager Road Transportation Development District, Ser A, SPA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 03/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 03/01/33 | 495 | 453 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hanley, Transportation Development, Eager Road Transportation Development District, Ser A, SPA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hanley, Transportation Development, Eager Road Transportation Development District, Ser A, SPA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 03/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 03/01/26 | 85 | 84 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kansas City, Industrial Development Authority, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kansas City, Industrial Development Authority, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 04/01/26 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 04/01/26 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 04/01/36(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 04/01/36(B) | 2000 | 1960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kirkwood, Industrial Development Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kirkwood, Industrial Development Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/15/27 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/15/27 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 05/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 05/15/30 | 2515 | 2536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lees Summit, Industrial Development Authority, John Knox Village, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lees Summit, Industrial Development Authority, John Knox Village, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/23/25 @ 101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/23/25 @ 101 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 08/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 08/15/46 | 2000 | 1749 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 13

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Municipal High Income Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000) | Face Amount (000) | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lees Summit, Industrial Development Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lees Summit, Industrial Development Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/23/25 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/23/25 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 08/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 08/15/42 | $2500 | $2308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; St. Louis, Industrial Development Authority, Innovation District Project, TA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; St. Louis, Industrial Development Authority, Innovation District Project, TA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 05/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 05/15/36 | 1760 | 1702 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; St. Louis, Industrial Development Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; St. Louis, Industrial Development Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 09/01/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 09/01/53 | 2000 | 1938 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; St. Louis, Industrial Development Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; St. Louis, Industrial Development Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/15/29 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/15/29 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 05/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 05/15/41 | 3250 | 3253 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; University City, Industrial Development Authority, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; University City, Industrial Development Authority, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/15/33 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/15/33 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 06/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 06/15/36 | 1670 | 1688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Missouri** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Missouri** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Missouri** | 18487 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Nevada [2.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Nevada [2.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Nevada [2.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Nevada [2.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Henderson Local Improvement Districts, SPA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Henderson Local Improvement Districts, SPA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 03/01/33 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 03/01/33 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 03/01/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 03/01/43 | 915 | 901 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Henderson Local Improvement Districts, SPA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Henderson Local Improvement Districts, SPA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/31 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/31 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 09/01/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 09/01/51 | 235 | 193 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Henderson Local Improvement Districts, SPA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Henderson Local Improvement Districts, SPA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/31 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/31 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 09/01/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 09/01/45 | 670 | 509 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Las Vegas, Special Improvement District No. 611, SPA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Las Vegas, Special Improvement District No. 611, SPA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/30 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/30 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 06/01/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 06/01/50 | 830 | 688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Las Vegas, Special Improvement District No. 612 Skye Hills, SPA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Las Vegas, Special Improvement District No. 612 Skye Hills, SPA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/30 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/30 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 06/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 06/01/35 | 185 | 170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Las Vegas, Special Improvement District No. 613, SPA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Las Vegas, Special Improvement District No. 613, SPA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/34 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/34 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 12/01/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 12/01/53 | 500 | 501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Las Vegas, Special Improvement District No. 613, SPA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Las Vegas, Special Improvement District No. 613, SPA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/34 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/34 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 12/01/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 12/01/47 | $500 | $490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Las Vegas, Special Improvement District No. 613, SPA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Las Vegas, Special Improvement District No. 613, SPA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/34 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/34 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/01/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/01/39 | 375 | 380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Las Vegas, Special Improvement District No. 812, Special Improvement District No. 812, SPA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Las Vegas, Special Improvement District No. 812, Special Improvement District No. 812, SPA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/01/35 | 825 | 826 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Las Vegas, Special Improvement District No. 814, SPA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Las Vegas, Special Improvement District No. 814, SPA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/29 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/29 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/01/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/01/44 | 670 | 576 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Las Vegas, Special Improvement District No. 815, SPA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Las Vegas, Special Improvement District No. 815, SPA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/30 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/30 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 12/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 12/01/40 | 705 | 703 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Las Vegas, Special Improvement District No. 816, SPA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Las Vegas, Special Improvement District No. 816, SPA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/31 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/31 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 06/01/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 06/01/51 | 1050 | 719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Las Vegas, Special Improvement District No. 816, SPA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Las Vegas, Special Improvement District No. 816, SPA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/31 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/31 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 06/01/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 06/01/41 | 940 | 720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Las Vegas, Special Improvement District No. 817 Summerlin Village 29, SPA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Las Vegas, Special Improvement District No. 817 Summerlin Village 29, SPA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/33 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/33 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 06/01/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 06/01/48 | 250 | 262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Las Vegas, Special Improvement District No. 818, SPA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Las Vegas, Special Improvement District No. 818, SPA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/34 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/34 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/01/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/01/54 | 700 | 666 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Las Vegas, Special Improvement District No. 819, SPA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Las Vegas, Special Improvement District No. 819, SPA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/35 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/35 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 06/01/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 06/01/55 | 850 | 849 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Las Vegas, Special Improvement District No. 819, SPA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Las Vegas, Special Improvement District No. 819, SPA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/35 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/35 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 06/01/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 06/01/45 | 325 | 322 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nevada State, Department of Business & Industry, Green-Fulcrum Sierra Biofuels, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nevada State, Department of Business & Industry, Green-Fulcrum Sierra Biofuels, RB, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 12/15/37(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 12/15/37(B) | 78 |  |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 14

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Municipal High Income Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000) | Face Amount (000) | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nevada State, Department of Business & Industry, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nevada State, Department of Business & Industry, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/15/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/15/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/15/38(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/15/38(B) | $1000 | $991 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nevada State, Department of Business & Industry, Sumerset Academy, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nevada State, Department of Business & Industry, Sumerset Academy, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/15/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/15/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/15/35(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/15/35(B) | 1595 | 1595 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reno Nevada, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reno Nevada, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/35 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/35 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 06/01/54(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 06/01/54(B) | 850 | 820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reno Nevada, Sub-Ser, SPA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reno Nevada, Sub-Ser, SPA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/01/38 @ 31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/01/38 @ 31 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 07/01/58(B)(F) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 07/01/58(B)(F) | 12000 | 1877 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Nevada** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Nevada** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Nevada** | 14758 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **New Hampshire [0.8%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **New Hampshire [0.8%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **New Hampshire [0.8%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **New Hampshire [0.8%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Hampshire, Business Finance Authority, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Hampshire, Business Finance Authority, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 07/01/54(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 07/01/54(B) | 1250 | 1230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Hampshire, Business Finance Authority, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Hampshire, Business Finance Authority, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 07/01/46(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 07/01/46(B) | 500 | 496 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Hampshire, Business Finance Authority, Ser B, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Hampshire, Business Finance Authority, Ser B, RB, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 07/01/45(A)(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 07/01/45(A)(B) | 5615 | 4622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total New Hampshire** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total New Hampshire** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total New Hampshire** | 6348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **New Jersey [2.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **New Jersey [2.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **New Jersey [2.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **New Jersey [2.4%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Jersey State, Economic Development Authority, Continental Airlines Project, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Jersey State, Economic Development Authority, Continental Airlines Project, RB, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 09/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 09/15/29 | 530 | 531 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Jersey State, Economic Development Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Jersey State, Economic Development Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-Refunded @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-Refunded @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/15/28(E) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/15/28(E) | 370 | 400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Jersey State, Economic Development Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Jersey State, Economic Development Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/01/29 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/01/29 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/01/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/01/37 | 1100 | 1100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Jersey State, Economic Development Authority, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Jersey State, Economic Development Authority, RB, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 11/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 11/15/30 | $1000 | $1002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Jersey State, Economic Development Authority, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Jersey State, Economic Development Authority, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/15/27 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/15/27 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/15/42 | 1155 | 1176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Jersey State, Economic Development Authority, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Jersey State, Economic Development Authority, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/15/27 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/15/27 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/15/47 | 1230 | 1244 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Jersey State, Transportation Trust Fund Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Jersey State, Transportation Trust Fund Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-Refunded @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-Refunded @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/15/46(E) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/15/46(E) | 355 | 384 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Jersey State, Transportation Trust Fund Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Jersey State, Transportation Trust Fund Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/15/28 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/15/28 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/15/46 | 645 | 654 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Jersey State, Transportation Trust Fund Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Jersey State, Transportation Trust Fund Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-Refunded @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-Refunded @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 12/15/28(E) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 12/15/28(E) | 1410 | 1504 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Jersey State, Transportation Trust Fund Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Jersey State, Transportation Trust Fund Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/15/28 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/15/28 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 06/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 06/15/49 | 2605 | 2559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Jersey State, Transportation Trust Fund Authority, Ser AA, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Jersey State, Transportation Trust Fund Authority, Ser AA, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/28/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/28/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 06/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 06/15/41 | 4245 | 4248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Jersey State, Transportation Trust Fund Authority, Ser BB, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Jersey State, Transportation Trust Fund Authority, Ser BB, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/15/28 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/15/28 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/15/37 | 3500 | 3505 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total New Jersey** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total New Jersey** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total New Jersey** | 18307 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **New Mexico [0.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **New Mexico [0.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **New Mexico [0.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **New Mexico [0.4%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lower Petroglyphs, Public Improvement District, SPL Tax | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lower Petroglyphs, Public Improvement District, SPL Tax |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/01/27 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/01/27 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/01/33 | 500 | 500 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 15

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Municipal High Income Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000) | Face Amount (000) | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lower Petroglyphs, Public Improvement District, SPL Tax | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lower Petroglyphs, Public Improvement District, SPL Tax |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/01/27 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/01/27 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/01/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/01/38 | $500 | $494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lower Petroglyphs, Public Improvement District, SPL Tax | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lower Petroglyphs, Public Improvement District, SPL Tax |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/01/27 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/01/27 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/01/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/01/48 | 1750 | 1669 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total New Mexico** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total New Mexico** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total New Mexico** | 2663 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **New York [6.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **New York [6.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **New York [6.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **New York [6.2%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Metropolitan Transportation Authority, Ser A-1, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Metropolitan Transportation Authority, Ser A-1, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/15/31 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/15/31 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/15/49 | 3000 | 2657 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Metropolitan Transportation Authority, Ser C-1, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Metropolitan Transportation Authority, Ser C-1, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/15/30 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/15/30 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 11/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 11/15/45 | 2000 | 1988 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Metropolitan Transportation Authority, Ser D1, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Metropolitan Transportation Authority, Ser D1, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/15/30 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/15/30 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 11/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 11/15/44 | 2450 | 2492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York City Housing Development, RB, Housing Urban Development Section 8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York City Housing Development, RB, Housing Urban Development Section 8 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/01/31 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/01/31 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 02/01/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 02/01/53 | 1000 | 998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York City Housing Development, RB, Housing Urban Development Section 8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York City Housing Development, RB, Housing Urban Development Section 8 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/01/31 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/01/31 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 08/01/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 08/01/48 | 3000 | 3005 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York City Housing Development, RB, Housing Urban Development Section 8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York City Housing Development, RB, Housing Urban Development Section 8 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/01/31 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/01/31 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 08/01/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 08/01/43 | 2000 | 1988 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York State, Dormitory Authority, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York State, Dormitory Authority, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 03/15/35 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 03/15/35 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 03/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 03/15/47 | 5000 | 5219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York State, Liberty Development, Bank of America Tower, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York State, Liberty Development, Bank of America Tower, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 03/15/29 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 03/15/29 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.800%, 09/15/69 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.800%, 09/15/69 | 1000 | 928 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York State, Transportation Development, American Airlines, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York State, Transportation Development, American Airlines, RB, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/23/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/23/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 08/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 08/01/26 | $535 | $535 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York State, Transportation Development, Delta Airlines, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York State, Transportation Development, Delta Airlines, RB, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 04/01/31 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 04/01/31 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 04/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 04/01/35 | 1500 | 1649 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York State, Transportation Development, Delta Airlines, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York State, Transportation Development, Delta Airlines, RB, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/28 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/28 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 01/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 01/01/36 | 5000 | 5079 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York State, Transportation Development, Delta Airlines, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York State, Transportation Development, Delta Airlines, RB, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/01/30 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/01/30 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/01/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/01/40 | 800 | 809 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York State, Transportation Development, JFK International Airport, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York State, Transportation Development, JFK International Airport, RB, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/30/31 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/30/31 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 06/30/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 06/30/54 | 2000 | 2084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York State, Transportation Development, JFK International Airport, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York State, Transportation Development, JFK International Airport, RB, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/01/30 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/01/30 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 08/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 08/01/31 | 1235 | 1282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York Transportation Development, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York Transportation Development, RB, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/30/34 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/30/34 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 06/30/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 06/30/55 | 4250 | 4516 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oneida Indian Nation of New York, Ser B, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oneida Indian Nation of New York, Ser B, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/31 @ 102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/31 @ 102 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 09/01/43(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 09/01/43(B) | 1000 | 1065 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Onondaga Civic Development, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Onondaga Civic Development, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/01/34 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/01/34 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 08/01/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 08/01/54 | 1250 | 1035 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Port Authority of New York & New Jersey, Ser 221, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Port Authority of New York & New Jersey, Ser 221, RB, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/15/30 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/15/30 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 07/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 07/15/50 | 2000 | 1779 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Suffolk Regional Off-Track Betting, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Suffolk Regional Off-Track Betting, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/29 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/29 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 12/01/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 12/01/53 | 1000 | 1010 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 16

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Municipal High Income Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000) | Face Amount (000) | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Westchester, Tobacco Asset Securitization, Ser B, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Westchester, Tobacco Asset Securitization, Ser B, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/27 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/27 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/01/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/01/41 | $2485 | $2486 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Westchester, Tobacco Asset Securitization, Sub-Ser C, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Westchester, Tobacco Asset Securitization, Sub-Ser C, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/27 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/27 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 06/01/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 06/01/51 | 7000 | 5871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total New York** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total New York** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total New York** | 48475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **North Carolina [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **North Carolina [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **North Carolina [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **North Carolina [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; North Carolina State, Medical Care Commission, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; North Carolina State, Medical Care Commission, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/27 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/27 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 09/01/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 09/01/50 | 250 | 195 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **North Dakota [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **North Dakota [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **North Dakota [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **North Dakota [0.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Burleigh County, Educational Facilities Revenue, Education Facilities, University of Mary Project, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Burleigh County, Educational Facilities Revenue, Education Facilities, University of Mary Project, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 04/15/26 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 04/15/26 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 04/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 04/15/46 | 1100 | 1009 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Grand Forks North Dakota, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Grand Forks North Dakota, RB, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/15/26 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/15/26 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 12/15/43(B) (C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 12/15/43(B) (C) | 5000 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total North Dakota** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total North Dakota** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total North Dakota** | 1009 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Ohio [2.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Ohio [2.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Ohio [2.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Ohio [2.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Buckeye Tobacco Settlement, Financing Authority, Ser A-2-Class, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Buckeye Tobacco Settlement, Financing Authority, Ser A-2-Class, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/30 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/30 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/01/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/01/48 | 3500 | 2938 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Buckeye Tobacco Settlement, Financing Authority, Ser B-2, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Buckeye Tobacco Settlement, Financing Authority, Ser B-2, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/30 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/30 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/01/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/01/55 | 2000 | 1706 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Hamilton Ohio, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; County of Hamilton Ohio, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/30 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/30 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 01/01/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 01/01/53 | 500 | 515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cuyahoga County, Hospital Revenue, Metrohealth System, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cuyahoga County, Hospital Revenue, Metrohealth System, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 02/15/27 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 02/15/27 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 02/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 02/15/47 | 3000 | 2937 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Muskingum County, Hospital Facilities Authority, Genesis Healthcare Systems Project, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Muskingum County, Hospital Facilities Authority, Genesis Healthcare Systems Project, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 02/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 02/15/48 | $250 | $235 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ohio Housing Finance Agency, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ohio Housing Finance Agency, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/01/30 @ 105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/01/30 @ 105 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 01/01/45(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 01/01/45(B) | 3365 | 3430 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ohio State, Air Quality Development Authority, Pratt Paper Project, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ohio State, Air Quality Development Authority, Pratt Paper Project, RB, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/15/28 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/15/28 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 01/15/38(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 01/15/38(B) | 3555 | 3532 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Ohio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Ohio** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Ohio** | 15293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Oklahoma [0.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Oklahoma [0.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Oklahoma [0.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Oklahoma [0.4%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oklahoma County, Finance Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oklahoma County, Finance Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 12/01/47(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 12/01/47(C) | 718 | 38 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oklahoma County, Finance Authority, Ser B, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oklahoma County, Finance Authority, Ser B, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/30 @ 104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/30 @ 104 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 12/01/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 12/01/47 | 3490 | 1904 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oklahoma State, Development Finance Authority, Ser B, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oklahoma State, Development Finance Authority, Ser B, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/15/28 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/15/28 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 08/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 08/15/48 | 1000 | 999 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payne County, Economic Development Authority, Epworth Living at the Ranch, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payne County, Economic Development Authority, Epworth Living at the Ranch, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/01/26 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/01/26 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 11/01/46(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 11/01/46(C) | 3843 | 16 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payne County, Economic Development Authority, Epworth Living at the Ranch, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payne County, Economic Development Authority, Epworth Living at the Ranch, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/01/26 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/01/26 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 11/01/36(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 11/01/36(C) | 1664 | 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Oklahoma** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Oklahoma** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Oklahoma** | 2964 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Oregon [0.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Oregon [0.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Oregon [0.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Oregon [0.6%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clackamas County, Hospital Facility Authority, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clackamas County, Hospital Facility Authority, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/15/25 @ 102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/15/25 @ 102 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 11/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 11/15/55 | 875 | 842 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 17

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Municipal High Income Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000) | Face Amount (000) | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hospital Facilities Authority of Multnomah County Oregon, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hospital Facilities Authority of Multnomah County Oregon, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/28 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/28 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/01/36 | $1180 | $1093 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hospital Facilities Authority of Multnomah County Oregon, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hospital Facilities Authority of Multnomah County Oregon, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/28 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/28 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/01/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/01/51 | 2000 | 1476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Port of Portland Oregon Airport Revenue, Ser 28, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Port of Portland Oregon Airport Revenue, Ser 28, RB, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/01/32 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/01/32 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 07/01/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 07/01/47 | 2000 | 1798 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Oregon** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Oregon** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Oregon** | 5209 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Pennsylvania [2.7%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Pennsylvania [2.7%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Pennsylvania [2.7%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Pennsylvania [2.7%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allegheny County, Airport Authority, Ser A, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allegheny County, Airport Authority, Ser A, RB, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/31 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/31 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 01/01/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 01/01/51 | 2000 | 2001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allentown, Neighborhood Improvement Zone Development Authority, City Center Project, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allentown, Neighborhood Improvement Zone Development Authority, City Center Project, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/01/27 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/01/27 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 05/01/42(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 05/01/42(B) | 1750 | 1750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allentown, Neighborhood Improvement Zone Development Authority, Sub-Ser, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allentown, Neighborhood Improvement Zone Development Authority, Sub-Ser, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/01/28 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/01/28 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 05/01/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 05/01/32(B) | 1500 | 1536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Berks County, Municipal Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Berks County, Municipal Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/23/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/23/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/30/39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/30/39 | 4778 | 4320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Berks County, Municipal Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Berks County, Municipal Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/23/25 @ 89 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/23/25 @ 89 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 11/15/29(D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 11/15/29(D) | 2387 | 1684 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chester County, Health and Education Facilities Authority, Ser S, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chester County, Health and Education Facilities Authority, Ser S, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 12/01/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 12/01/45 | 1400 | 1156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chester County, Industrial Development Authority, Woodlands at Graystone Project, SPA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chester County, Industrial Development Authority, Woodlands at Graystone Project, SPA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 03/01/28 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 03/01/28 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 03/01/48(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 03/01/48(B) | 500 | 466 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dauphin County, General Authority, Harrisburg University of Science and Technology Project, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dauphin County, General Authority, Harrisburg University of Science and Technology Project, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/15/27 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/15/27 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 10/15/41(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 10/15/41(B) | $1135 | $799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dauphin County, General Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dauphin County, General Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/15/27 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/15/27 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/15/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/15/34(B) | 3110 | 2505 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin County, Industrial Development Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin County, Industrial Development Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/25 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/25 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/01/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/01/49 | 780 | 680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin County, Industrial Development Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin County, Industrial Development Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/25 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/01/25 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/01/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/01/54 | 1000 | 846 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pennsylvania State, Economic Development Financing Authority, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pennsylvania State, Economic Development Financing Authority, RB, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/31/32 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 12/31/32 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 06/30/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 06/30/48 | 625 | 646 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Washington County, Redevelopment Authority, TA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Washington County, Redevelopment Authority, TA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/28 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/28 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/35 | 1235 | 1236 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Pennsylvania** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Pennsylvania** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Pennsylvania** | 19625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Rhode Island [0.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Rhode Island [0.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Rhode Island [0.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Rhode Island [0.4%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rhode Island State, Tobacco Settlement Financing, Ser B, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rhode Island State, Tobacco Settlement Financing, Ser B, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/18/25 @ 20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/18/25 @ 20 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 06/01/52(F) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 06/01/52(F) | 21270 | 2918 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **South Carolina [0.9%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **South Carolina [0.9%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **South Carolina [0.9%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **South Carolina [0.9%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Berkeley County, SPA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Berkeley County, SPA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/01/29 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/01/29 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 11/01/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 11/01/49 | 1000 | 869 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Berkeley County, SPA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Berkeley County, SPA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/01/29 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/01/29 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/01/30 | 425 | 423 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; South Carolina Jobs-Economic Development Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; South Carolina Jobs-Economic Development Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/01/34 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/01/34 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 11/01/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 11/01/45 | 4750 | 5077 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total South Carolina** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total South Carolina** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total South Carolina** | 6369 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 18

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Municipal High Income Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000) | Face Amount (000) | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Tennessee [1.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Tennessee [1.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Tennessee [1.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Tennessee [1.3%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Metropolitan Government Nashville & Davidson County Health & Educational Facs Bd, Ser S, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Metropolitan Government Nashville & Davidson County Health & Educational Facs Bd, Ser S, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 102 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/01/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/01/45 | $5000 | $4077 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nashville, Metropolitan Development & Housing Agency, TA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nashville, Metropolitan Development & Housing Agency, TA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/28 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/28 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 06/01/36(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 06/01/36(B) | 2795 | 2827 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nashville, Metropolitan Development & Housing Agency, TA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nashville, Metropolitan Development & Housing Agency, TA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 06/01/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 06/01/28(B) | 305 | 308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tennessee Energy Acquisition, Ser A-1, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tennessee Energy Acquisition, Ser A-1, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 02/01/28 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 02/01/28 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 05/01/53(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 05/01/53(A) | 3000 | 3132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Tennessee** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Tennessee** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Tennessee** | 10344 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Texas [8.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Texas [8.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Texas [8.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Texas [8.2%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arlington, Higher Education Finance, RB, PSF-GTD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arlington, Higher Education Finance, RB, PSF-GTD |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/15/34 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/15/34 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 08/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 08/15/54 | 1000 | 901 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arlington, Higher Education Finance, Universal Academy Project, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arlington, Higher Education Finance, Universal Academy Project, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 03/01/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 03/01/44 | 2300 | 2284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arlington, Higher Education Finance, Universal Academy Project, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arlington, Higher Education Finance, Universal Academy Project, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 03/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 03/01/34 | 400 | 400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Celina, Cambridge Crossing Public Improvement Project, SPA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Celina, Cambridge Crossing Public Improvement Project, SPA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/28 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/28 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 09/01/47(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 09/01/47(B) | 500 | 492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Celina, Cambridge Crossing Public Improvement Project, SPA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Celina, Cambridge Crossing Public Improvement Project, SPA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/28 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/28 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 09/01/38(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 09/01/38(B) | 1500 | 1506 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gulf Coast Authority, Ser B, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gulf Coast Authority, Ser B, RB, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 05/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 05/01/28 | 1000 | 947 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Horizon Regional Municipal Utility District, GO, BAM | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Horizon Regional Municipal Utility District, GO, BAM |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/01/30 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/01/30 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 02/01/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 02/01/54 | $1000 | $879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Houston, Airport System Revenue, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Houston, Airport System Revenue, RB, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/01/29 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/01/29 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 07/01/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 07/01/41 | 2500 | 2271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Houston, Airport System Revenue, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Houston, Airport System Revenue, RB, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/15/29 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/15/29 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 07/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 07/15/41 | 2530 | 2297 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Houston, Airport System Revenue, Ser B-1, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Houston, Airport System Revenue, Ser B-1, RB, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/15/35 | 3000 | 3001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lago Vista Texas, SPA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lago Vista Texas, SPA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/30 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/30 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 09/01/50(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 09/01/50(B) | 275 | 255 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Matagorda County Navigation District No. 1, RB, AMBAC, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Matagorda County Navigation District No. 1, RB, AMBAC, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 11/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 11/01/28 | 1500 | 1576 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Hope, Cultural Education Facilities Finance, Carillon LifeCare Community Project, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Hope, Cultural Education Facilities Finance, Carillon LifeCare Community Project, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 101 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/36 | 3410 | 3415 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Hope, Cultural Education Facilities Finance, Carillon LifeCare Community Project, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Hope, Cultural Education Facilities Finance, Carillon LifeCare Community Project, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 101 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/46 | 1250 | 1132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Hope, Cultural Education Facilities Finance, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Hope, Cultural Education Facilities Finance, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 11/15/36(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 11/15/36(C) | 3385 | 2793 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Hope, Cultural Education Facilities Finance, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Hope, Cultural Education Facilities Finance, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 11/15/37(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 11/15/37(C) | 545 | 431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Hope, Cultural Education Facilities Finance, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Hope, Cultural Education Facilities Finance, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/15/31 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/15/31 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 08/15/51(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 08/15/51(B) | 4385 | 3338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Hope, Cultural Education Facilities Finance, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Hope, Cultural Education Facilities Finance, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/15/26 @ 105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/15/26 @ 105 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 11/15/61(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 11/15/61(A) | 14596 | 3786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Hope, Cultural Education Facilities Finance, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Hope, Cultural Education Facilities Finance, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/01/32 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/01/32 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 10/01/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 10/01/60 | 1125 | 1150 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 19

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Municipal High Income Fund *(continued)* |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Description | Face Amount (000) | Face Amount (000) | Value (000) | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Hope, Cultural Education Facilities Finance, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Hope, Cultural Education Facilities Finance, Ser A, RB |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 08/15/40(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 08/15/40(B) | 4750 | $| 4310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Newark, Higher Education Finance, Ser A, RB, PSF-GTD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Newark, Higher Education Finance, Ser A, RB, PSF-GTD |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/15/34 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/15/34 @ 100 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 08/15/59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 08/15/59 | 1000 |  | 943 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; North Texas, Tollway Authority, Convertible Capital Appreciation Project, Ser C, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; North Texas, Tollway Authority, Convertible Capital Appreciation Project, Ser C, RB |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-Refunded @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-Refunded @ 100 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 09/01/31(E) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 09/01/31(E) | 5000 |  | 6053 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Port of Beaumont Navigation District, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Port of Beaumont Navigation District, RB |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.000%, 07/01/26(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.000%, 07/01/26(B) | 3000 |  | 3014 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Port of Beaumont Navigation District, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Port of Beaumont Navigation District, RB, AMT |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/32 @ 104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/32 @ 104 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 01/01/54(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 01/01/54(B) | 250 |  | 238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Port of Beaumont Navigation District, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Port of Beaumont Navigation District, RB, AMT |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 101 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 01/01/41(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 01/01/41(B) | 250 |  | 181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Port of Beaumont Navigation District, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Port of Beaumont Navigation District, RB, AMT |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 101 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 01/01/36(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 01/01/36(B) | 1000 |  | 823 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sanger, Industrial Development Authority, Texas Pellets Project, Ser B, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sanger, Industrial Development Authority, Texas Pellets Project, Ser B, RB, AMT |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 07/01/38(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 07/01/38(C) | 4950 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tarrant County, Cultural Education Facilities Finance, C.C. Young Memorial Home Project, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tarrant County, Cultural Education Facilities Finance, C.C. Young Memorial Home Project, RB |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 02/15/27 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 02/15/27 @ 100 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 02/15/48(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 02/15/48(C) | 5720 |  | 4462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tarrant County, Cultural Education Facilities Finance, Northwest Senior Housing Edgemere Project, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tarrant County, Cultural Education Facilities Finance, Northwest Senior Housing Edgemere Project, RB |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/15/27 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 05/15/27 @ 100 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 11/15/47(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 11/15/47(C) | 2983 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tarrant County, Cultural Education Facilities Finance, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tarrant County, Cultural Education Facilities Finance, RB |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 02/15/27 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 02/15/27 @ 100 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 02/15/52(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 02/15/52(C) | 3280 |  | 2558 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Texas State, Department of Housing & Community Affairs, Ser A, RB, GNMA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Texas State, Department of Housing & Community Affairs, Ser A, RB, GNMA |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/27 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/27 @ 100 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 09/01/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 09/01/43 | 1880 | $| 1880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Texas State, Transportation Commission, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Texas State, Transportation Commission, RB |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 02/01/29 @ 73 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 02/01/29 @ 73 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 08/01/36(F) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 08/01/36(F) | 1000 |  | 629 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Texas Water Development Board, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Texas Water Development Board, Ser A, RB |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/15/34 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/15/34 @ 100 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 10/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 10/15/54 | 5000 |  | 4800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Texas** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Texas** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Texas** |  | 62745 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Utah [0.9%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Utah [0.9%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Utah [0.9%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Utah [0.9%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Utah [0.9%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Downtown East Streetcar Sewer Public Infrastructure District, Ser A, GO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Downtown East Streetcar Sewer Public Infrastructure District, Ser A, GO |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/27 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/27 @ 103 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 03/01/53(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 03/01/53(B) | 2000 |  | 1978 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Downtown East Streetcar Sewer Public Infrastructure District, Ser A, GO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Downtown East Streetcar Sewer Public Infrastructure District, Ser A, GO |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/27 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/27 @ 103 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 03/01/42(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 03/01/42(B) | 500 |  | 501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Salt Lake City Utah Airport Revenue, Ser A, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Salt Lake City Utah Airport Revenue, Ser A, RB, AMT |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/01/33 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/01/33 @ 100 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 07/01/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 07/01/48 | 750 |  | 772 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Utah Charter School Finance Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Utah Charter School Finance Authority, RB |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/15/28 @ 102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/15/28 @ 102 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/15/55(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/15/55(B) | 3710 |  | 3206 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wood Ranch Public Infrastructure District, SPA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wood Ranch Public Infrastructure District, SPA |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/29 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/29 @ 103 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 12/01/53(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 12/01/53(B) | 1000 |  | 1001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Utah** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Utah** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Utah** |  | 7458 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Virginia [0.7%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Virginia [0.7%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Virginia [0.7%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Virginia [0.7%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Virginia [0.7%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Virginia Beach Development Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Virginia Beach Development Authority, RB |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/30 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/30 @ 103 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 09/01/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 09/01/53 | 3000 |  | 3285 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 20

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Municipal High Income Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000) | Face Amount (000) | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; West Falls Community Development Authority, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; West Falls Community Development Authority, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/32 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/01/32 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 09/01/52(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 09/01/52(B) | $2110 | $2133 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Virginia** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Virginia** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Virginia** | 5418 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Washington [1.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Washington [1.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Washington [1.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Washington [1.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kalispel Tribe of Indians, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kalispel Tribe of Indians, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/28 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/28 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 01/01/38(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 01/01/38(B) | 400 | 407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Washington State, Health Care Facilities Authority, Ser A-, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Washington State, Health Care Facilities Authority, Ser A-, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/01/29 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 08/01/29 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 08/01/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 08/01/44 | 2715 | 2420 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Washington State, Housing Finance Commission, Judson Park Project, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Washington State, Housing Finance Commission, Judson Park Project, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 102 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/48(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/48(B) | 1650 | 1476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Washington State, Housing Finance Commission, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Washington State, Housing Finance Commission, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/01/26 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/01/26 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 01/01/55(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 01/01/55(B) | 4000 | 3556 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Washington** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Washington** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Washington** | 7859 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **West Virginia [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **West Virginia [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **West Virginia [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **West Virginia [0.3%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; South Charleston West Virginia, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; South Charleston West Virginia, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/31 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/31 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 06/01/42(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 06/01/42(B) | 2610 | 2081 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Wisconsin [6.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Wisconsin [6.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Wisconsin [6.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Wisconsin [6.2%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hartford, Public Finance Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hartford, Public Finance Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 09/01/38(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 09/01/38(B) | 1580 | 1580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Public Finance Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Public Finance Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/15/32 @ 102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/15/32 @ 102 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 06/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 06/15/55 | 2250 | 2253 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Public Finance Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Public Finance Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-Refunded @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-Refunded @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 04/01/50(B) (E) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 04/01/50(B) (E) | 100 | 110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Public Finance Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Public Finance Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 04/01/30 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 04/01/30 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 04/01/40(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 04/01/40(B) | 1175 | 1157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Public Finance Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Public Finance Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 04/01/30 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 04/01/30 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 04/01/50(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 04/01/50(B) | $1575 | $1438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Public Finance Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Public Finance Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 02/01/32 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 02/01/32 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 02/01/62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 02/01/62 | 2500 | 2432 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Public Finance Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Public Finance Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-Refunded @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-Refunded @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 04/01/32(B) (E) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 04/01/32(B) (E) | 50 | 53 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Public Finance Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Public Finance Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-Refunded @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-Refunded @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 04/01/32(B) (E) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 04/01/32(B) (E) | 60 | 64 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Public Finance Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Public Finance Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/01/29 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/01/29 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 07/01/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 07/01/51 | 1750 | 1403 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Public Finance Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Public Finance Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/27 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/27 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/01/56(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/01/56(B) | 3000 | 2072 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Public Finance Authority, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Public Finance Authority, RB, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/30/31 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/30/31 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 09/30/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 09/30/51 | 600 | 490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Public Finance Authority, RB, AMT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Public Finance Authority, RB, AMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/30/31 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 09/30/31 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 03/31/56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 03/31/56 | 3290 | 2628 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Public Finance Authority, TA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Public Finance Authority, TA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/29 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/29 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/01/41(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/01/41(B) | 500 | 503 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; University of Wisconsin Hospitals & Clinics, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; University of Wisconsin Hospitals & Clinics, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/01/31 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/01/31 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 04/01/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 04/01/51 | 2995 | 2695 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wisconsin State, Health & Educational Facilities Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wisconsin State, Health & Educational Facilities Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/01/32 @ 102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 10/01/32 @ 102 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 10/01/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 10/01/44 | 1300 | 1343 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wisconsin State, Health & Educational Facilities Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wisconsin State, Health & Educational Facilities Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/27 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/27 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 01/01/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 01/01/47 | 540 | 437 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wisconsin State, Health & Educational Facilities Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wisconsin State, Health & Educational Facilities Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/27 @ 103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 01/01/27 @ 103 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 01/01/57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 01/01/57 | 2400 | 1783 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 21

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Municipal High Income Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000) | Face Amount (000) | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wisconsin State, Health & Educational Facilities Authority, Woodland Hill Senior Housing Project, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wisconsin State, Health & Educational Facilities Authority, Woodland Hill Senior Housing Project, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 12/01/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 12/01/49 | $4000 | $3407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wisconsin State, Public Finance Authority, Bancroft Neurohealth Project, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wisconsin State, Public Finance Authority, Bancroft Neurohealth Project, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/26 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/26 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/01/36(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/01/36(B) | 4625 | 4630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wisconsin State, Public Finance Authority, Bancroft Neurohealth Project, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wisconsin State, Public Finance Authority, Bancroft Neurohealth Project, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/26 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 06/01/26 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 06/01/36(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 06/01/36(B) | 3300 | 3223 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wisconsin State, Public Finance Authority, Coral Academy Project, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wisconsin State, Public Finance Authority, Coral Academy Project, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 07/01/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 07/01/44 | 3500 | 3487 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wisconsin State, Public Finance Authority, Coral Academy Project, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wisconsin State, Public Finance Authority, Coral Academy Project, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 07/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 07/01/34 | 1845 | 1846 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wisconsin State, Public Finance Authority, Cornerstone Christian Project, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wisconsin State, Public Finance Authority, Cornerstone Christian Project, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 02/01/26 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 02/01/26 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 02/01/36(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 02/01/36(B) | 3000 | 3006 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wisconsin State, Public Finance Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wisconsin State, Public Finance Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 03/01/30 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 03/01/30 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 03/01/45(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 03/01/45(B) | 1665 | 1531 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wisconsin State, Public Finance Authority, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wisconsin State, Public Finance Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 03/01/30 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 03/01/30 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 03/01/55(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 03/01/55(B) | 835 | 731 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wisconsin State, Public Finance Authority, Roseman University Health Sciences, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wisconsin State, Public Finance Authority, Roseman University Health Sciences, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 04/01/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 04/01/45 | 3000 | 2992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Wisconsin** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Wisconsin** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Wisconsin** | 47294 |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000) | Face Amount (000) | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **American Samoa [0.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **American Samoa [0.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **American Samoa [0.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **American Samoa [0.4%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Samoa, Economic Development Authority, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Samoa, Economic Development Authority, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 09/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 09/01/35 | $3000 | $3006 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Puerto Rico [3.7%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Puerto Rico [3.7%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Puerto Rico [3.7%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Puerto Rico [3.7%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Children's Trust Fund, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Children's Trust Fund, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 05/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 05/15/43 | 2000 | 2034 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Children's Trust Fund, Ser A, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Children's Trust Fund, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 9 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 9 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 05/15/57(F) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 05/15/57(F) | 25000 | 1154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commonwealth of Puerto Rico, Sub-Ser Senior, GO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commonwealth of Puerto Rico, Sub-Ser Senior, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 11/01/51(F) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 11/01/51(F) | 6130 | 4138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico, Sales Tax Financing, Sales Tax Revenue, Ser A-1, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico, Sales Tax Financing, Sales Tax Revenue, Ser A-1, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/01/28 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/01/28 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/01/58 | 5167 | 4987 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico, Sales Tax Financing, Sales Tax Revenue, Ser A-1, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico, Sales Tax Financing, Sales Tax Revenue, Ser A-1, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/01/28 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/01/28 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 07/01/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 07/01/53 | 876 | 823 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico, Sales Tax Financing, Sales Tax Revenue, Ser A-1, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico, Sales Tax Financing, Sales Tax Revenue, Ser A-1, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 11/02/25 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 07/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 07/01/34 | 10005 | 10008 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico, Sales Tax Financing, Sales Tax Revenue, Ser A-2, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico, Sales Tax Financing, Sales Tax Revenue, Ser A-2, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/01/28 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/01/28 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.784%, 07/01/58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.784%, 07/01/58 | 5771 | 5358 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico, Sales Tax Financing, Sales Tax Revenue, Ser A-2, RB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Puerto Rico, Sales Tax Financing, Sales Tax Revenue, Ser A-2, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/01/28 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Callable 07/01/28 @ 100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.536%, 07/01/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.536%, 07/01/53 | 31 | 28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Puerto Rico** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Puerto Rico** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Puerto Rico** | 28530 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Municipal Bonds** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Municipal Bonds** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Municipal Bonds** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Municipal Bonds** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $781,188) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $781,188) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $781,188) | 739690 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 22

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Municipal High Income Fund *(concluded)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Shares | Shares | Value (000) |
|  **Common Stock [0.0%]** | **Common Stock [0.0%]** | **Common Stock [0.0%]** | **Common Stock [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nassau County, Industrial Development Agency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nassau County, Industrial Development Agency | 4357851 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Common Stock** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Common Stock** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Common Stock** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Common Stock** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $—) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $—) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $—) |  |
|  **Short-Term Investment [2.0%]** | **Short-Term Investment [2.0%]** | **Short-Term Investment [2.0%]** | **Short-Term Investment [2.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SEI Daily Income Trust Government Fund, Cl Institutional, 4.040%\*\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SEI Daily Income Trust Government Fund, Cl Institutional, 4.040%\*\* | 15253766 | 15254 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Short-Term Investment** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Short-Term Investment** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Short-Term Investment** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Short-Term Investment** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $15,254) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $15,254) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $15,254) | 15254 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Investments [99.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Investments [99.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Investments [99.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Investments [99.2%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $796,442) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $796,442) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $796,442) | $754944 |

---

Percentages are based on net assets of $761,295 (000).

\*\* The rate reported is the 7-day effective yield as of September 30, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;(A) Variable or floating rate security.
 The rate shown is the effective interest rate as of period end. The rates for certain securities are not based on published reference
 rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the
 rates of underlying loans; or by adjusting periodically based on prevailing interest rates.

&nbsp;&nbsp;&nbsp;&nbsp;(B) Security exempt from registration
 under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration normally to qualified
 institutions. On September 30, 2025, the value of these securities amounted to $224,153 (000), representing 29.4% of the net assets of
 the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;(C) In default on interest payments.
 Rate shown represents the last coupon rate prior to default.

&nbsp;&nbsp;&nbsp;&nbsp;(D) Step coupon security. Coupon
 rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects
 the rate currently in effect.

&nbsp;&nbsp;&nbsp;&nbsp;(E) Pre-Refunded Security —
 The maturity date shown is the pre-refunded date.

&nbsp;&nbsp;&nbsp;&nbsp;(F) Zero coupon security.

AGM — Assured Guarantee Municipal

AMBAC — American Municipal Bond Assurance Company

AMT — Alternative Minimum Tax (subject to)

BAM — Build America Mutual

Cl — Class

GNMA — Government National Mortgage Association

GO — General Obligation PSF-GTD — Public School Fund Guaranteed

RB — Revenue Bond

Ser — Series SPA — Special Assessment

SPL Tax — Special Tax

TA — Tax Allocation

The following is a list of the inputs used as of September 30, 2025, in valuing the Fund's investments and other financial instruments carried at value (000):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  Investments in Securities | Level 1 | Level 2 | Level 3 | Total |
| &nbsp;&nbsp;&nbsp; Municipal Bonds | $— | $739690 | $— | $739690 |
| &nbsp;&nbsp;&nbsp; Common Stock |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Short-Term Investment | 15254 |  |  | 15254 |
|  Total Investments in Securities | $15254 | $739690 | $— | $754944 |

---

Amounts designated as "—" are either $0 or have been rounded to $0.

For information on valuation inputs, see Note 2 — Significant Accounting Policies in the Notes to Financial Statements.

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 23

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Value (000) |
|  **Corporate Bonds [50.0%]** | **Corporate Bonds [50.0%]** | **Corporate Bonds [50.0%]** | **Corporate Bonds [50.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Aerospace / Defense [0.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Aerospace / Defense [0.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Aerospace / Defense [0.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Aerospace / Defense [0.5%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AAR Escrow Issuer | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AAR Escrow Issuer |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 03/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 03/15/29(A) | $98 | $101 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Czechoslovak Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Czechoslovak Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 01/10/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 01/10/31(A) | 1930 | 1988 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spirit AeroSystems | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spirit AeroSystems |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.375%, 11/30/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.375%, 11/30/29(A) | 527 | 555 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spirit AeroSystems | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spirit AeroSystems |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 11/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 11/15/30(A) | 448 | 493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TransDigm | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TransDigm |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 08/15/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 08/15/28(A) | 275 | 280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 01/31/34(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 01/31/34(A) | 125 | 129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TransDigm | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TransDigm |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 03/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 03/01/29(A) | 900 | 920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 05/31/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 05/31/33(A) | 125 | 126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TransDigm | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TransDigm |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 12/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 12/15/30(A) | 1500 | 1554 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TransDigm | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TransDigm |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 03/01/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 03/01/32(A) | 975 | 1004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TransDigm | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TransDigm |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 01/31/34(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 01/31/34(A) | 650 | 668 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Aerospace / Defense** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Aerospace / Defense** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Aerospace / Defense** | 7818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Agricultural [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Agricultural [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Agricultural [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Agricultural [0.3%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kernel Holding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kernel Holding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 10/27/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 10/27/27 | 5281 | 4806 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MHP Lux | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MHP Lux |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 09/19/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 09/19/29 | 665 | 536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Agricultural** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Agricultural** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Agricultural** | 5342 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Air Transportation [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Air Transportation [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Air Transportation [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Air Transportation [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SGL Group ApS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SGL Group ApS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.745%, EUR003M + 4.750%, 04/22/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.745%, EUR003M + 4.750%, 04/22/30(B) | 400 | 465 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SGL Group ApS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SGL Group ApS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.276%, EUR003M + 4.250%, 02/24/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.276%, EUR003M + 4.250%, 02/24/31(B) | 145 | 166 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Air Transportation** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Air Transportation** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Air Transportation** | 631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Airlines [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Airlines [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Airlines [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Airlines [0.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allegiant Travel | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allegiant Travel |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 08/15/27(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 08/15/27(A) | 1190 | 1205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Airlines | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Airlines |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 04/20/26(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 04/20/26(A) | 526 | 526 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Airlines** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Airlines** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Airlines** | 1731 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Airport Develop/Maint [0.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Airport Develop/Maint [0.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Airport Develop/Maint [0.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Airport Develop/Maint [0.4%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aeropuertos Dominicanos Siglo XXI | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aeropuertos Dominicanos Siglo XXI |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 06/30/34(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 06/30/34(A) | $1990 | $2089 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kingston Airport Revenue Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kingston Airport Revenue Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 12/15/36(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 12/15/36(A) | 1660 | 1700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TAV Havalimanlari Holding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TAV Havalimanlari Holding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 12/07/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 12/07/28 | 3045 | 3180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Airport Develop/Maint** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Airport Develop/Maint** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Airport Develop/Maint** | 6969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Apparel/Textiles [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Apparel/Textiles [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Apparel/Textiles [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Apparel/Textiles [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Under Armour | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Under Armour |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 07/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 07/15/30(A) | 535 | 534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Applications Software [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Applications Software [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Applications Software [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Applications Software [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TeamSystem | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TeamSystem |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.194%, EUR003M + 3.250%, 07/01/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.194%, EUR003M + 3.250%, 07/01/32(B) | 300 | 353 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Auto Rent & Lease [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Auto Rent & Lease [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Auto Rent & Lease [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Auto Rent & Lease [0.2%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kapla Holding SAS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kapla Holding SAS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.514%, EUR003M + 3.500%, 07/31/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.514%, EUR003M + 3.500%, 07/31/30(B) | 850 | 1002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Upbound Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Upbound Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 02/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 02/15/29(A) | 1765 | 1742 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Auto Rent & Lease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Auto Rent & Lease** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Auto Rent & Lease** | 2744 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Automotive [0.7%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Automotive [0.7%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Automotive [0.7%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Automotive [0.7%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Adient Global Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Adient Global Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 04/15/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 04/15/31(A) | 300 | 315 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Adient Global Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Adient Global Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 02/15/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 02/15/33(A) | 850 | 879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clarios Global | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clarios Global |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 02/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 02/15/30(A) | 325 | 336 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 09/15/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 09/15/32(A) | 1375 | 1405 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dornoch Debt Merger Sub | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dornoch Debt Merger Sub |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 10/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 10/15/29(A) | 950 | 817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ford Motor Credit | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ford Motor Credit |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.271%, 01/09/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.271%, 01/09/27 | 1200 | 1190 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ford Otomotiv Sanayi | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ford Otomotiv Sanayi |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 04/25/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 04/25/29(A) | 3680 | 3768 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forvia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forvia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 09/15/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 09/15/33(A) | 200 | 203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IHO Verwaltungs GmbH | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IHO Verwaltungs GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 11/15/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 11/15/32(A) | 1450 | 1522 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JB Poindexter | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JB Poindexter |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 12/15/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 12/15/31(A) | 600 | 628 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 24

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real Hero Merger Sub 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real Hero Merger Sub 2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 02/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 02/01/29(A) | $500 | $341 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ZF North America Capital | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ZF North America Capital |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 04/14/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 04/14/28(A) | 200 | 203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ZF North America Capital | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ZF North America Capital |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 04/14/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 04/14/30(A) | 200 | 198 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Automotive** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Automotive** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Automotive** | 11805 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Autoparts [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Autoparts [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Autoparts [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Autoparts [0.3%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Axle & Manufacturing | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Axle & Manufacturing |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 07/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 07/01/28 | 505 | 505 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grupo Antolin Irausa | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grupo Antolin Irausa |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 04/30/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 04/30/28 | 750 | 667 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Metalsa Sapi De Cv | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Metalsa Sapi De Cv |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 05/04/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 05/04/31 | 1953 | 1733 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 05/04/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 05/04/31(A) | 2955 | 2623 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Autoparts** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Autoparts** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Autoparts** | 5528 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Banking [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Banking [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Banking [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Banking [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ally Financial | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ally Financial |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 11/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 11/20/25 | 275 | 275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Banks [4.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Banks [4.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Banks [4.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Banks [4.3%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Akbank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Akbank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.369%, H15T5Y + 5.270%, 06/14/74(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.369%, H15T5Y + 5.270%, 06/14/74(A) (B) | 8545 | 8933 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banco Davivienda | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banco Davivienda |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.650%, H15T10Y + 5.097%, 10/22/73(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.650%, H15T10Y + 5.097%, 10/22/73(A) (B) | 5350 | 4973 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banco de Credito e Inversiones | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banco de Credito e Inversiones |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, H15T5Y + 3.767%, 03/12/74(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, H15T5Y + 3.767%, 03/12/74(B) | 1320 | 1388 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, H15T5Y + 3.767%, 03/12/74(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, H15T5Y + 3.767%, 03/12/74(A) (B) | 1950 | 2051 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banco General | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banco General |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, H15T10Y + 3.665%, 11/07/73(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, H15T10Y + 3.665%, 11/07/73(B) | 2625 | 2469 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banco Mercantil del Norte | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banco Mercantil del Norte |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.625%, H15T10Y + 5.353%, 10/06/67(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.625%, H15T10Y + 5.353%, 10/06/67(B) | 6165 | 6325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banco Mercantil del Norte | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banco Mercantil del Norte |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.375%, H15T5Y + 4.072%, 02/20/74(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.375%, H15T5Y + 4.072%, 02/20/74(A) (B) | 1350 | 1421 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bancolombia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bancolombia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.625%, H15T5Y + 4.320%, 12/24/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.625%, H15T5Y + 4.320%, 12/24/34(B) | $2010 | $2170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank Hapoalim | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank Hapoalim |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.255%, H15T5Y + 2.155%, 01/21/32(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.255%, H15T5Y + 2.155%, 01/21/32(A) (B) | 2697 | 2629 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank Nadra Via NDR Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank Nadra Via NDR Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 06/22/17(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 06/22/17(C) | 631 | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank Negara Indonesia Persero | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank Negara Indonesia Persero |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.300%, H15T5Y + 3.466%, 03/24/73(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.300%, H15T5Y + 3.466%, 03/24/73(B) | 2600 | 2518 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank of Georgia JSC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank of Georgia JSC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.500%, USISSO05 + 5.618%, 10/16/73(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.500%, USISSO05 + 5.618%, 10/16/73(B) | 2030 | 2055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BBVA Mexico Institucion De Banca Multiple Grupo Financiero BBVA Mexico | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BBVA Mexico Institucion De Banca Multiple Grupo Financiero BBVA Mexico |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, H15T5Y + 2.650%, 01/18/33(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, H15T5Y + 2.650%, 01/18/33(B) | 4167 | 4092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BBVA Mexico Institucion De Banca Multiple Grupo Financiero BBVA Mexico | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BBVA Mexico Institucion De Banca Multiple Grupo Financiero BBVA Mexico |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.125%, H15T5Y + 4.214%, 01/08/39(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.125%, H15T5Y + 4.214%, 01/08/39(B) | 4900 | 5343 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Freedom Mortgage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Freedom Mortgage |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12.000%, 10/01/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12.000%, 10/01/28(A) | 900 | 954 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Freedom Mortgage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Freedom Mortgage |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12.250%, 10/01/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12.250%, 10/01/30(A) | 533 | 595 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ING Bank, MTN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ING Bank, MTN |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.571%, 01/01/28(D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.571%, 01/01/28(D) | 150620 | 810 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ipoteka-Bank ATIB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ipoteka-Bank ATIB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 11/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 11/19/25 | 5425 | 5408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jscb Agrobank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jscb Agrobank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 10/02/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 10/02/29(A) | 3000 | 3256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; OTP Bank Nyrt | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; OTP Bank Nyrt |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.300%, H15T5Y + 2.861%, 07/30/35(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.300%, H15T5Y + 2.861%, 07/30/35(B) | 3800 | 4046 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sovcombank Via SovCom Capital DAC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sovcombank Via SovCom Capital DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.600%, H15T5Y + 6.362%, 02/17/74(C)(D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.600%, H15T5Y + 6.362%, 02/17/74(C)(D) | 3615 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Turkiye Garanti Bankasi | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Turkiye Garanti Bankasi |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.375%, H15T5Y + 4.090%, 02/28/34(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.375%, H15T5Y + 4.090%, 02/28/34(A) (B) | 6100 | 6310 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 25

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Yapi ve Kredi Bankasi, MTN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Yapi ve Kredi Bankasi, MTN |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 10/16/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 10/16/28 | $575 | $626 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 10/16/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 10/16/28(A) | 3950 | 4298 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Banks** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Banks** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Banks** | 72673 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Broadcasting & Cable [0.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Broadcasting & Cable [0.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Broadcasting & Cable [0.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Broadcasting & Cable [0.5%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cable One | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cable One |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/15/30(A) | 2685 | 2275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charter Communications Operating | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charter Communications Operating |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.650%, 02/01/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.650%, 02/01/34 | 765 | 817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charter Communications Operating | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charter Communications Operating |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.484%, 10/23/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.484%, 10/23/45 | 2323 | 2293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CSC Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CSC Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.250%, 05/15/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.250%, 05/15/28(A) | 1605 | 1486 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Directv Financing | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Directv Financing |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.875%, 02/01/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.875%, 02/01/30(A) | 608 | 600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grupo Televisa | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grupo Televisa |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 05/24/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 05/24/49 | 555 | 394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Time Warner Cable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Time Warner Cable |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 11/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 11/15/40 | 530 | 507 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Broadcasting & Cable** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Broadcasting & Cable** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Broadcasting & Cable** | 8372 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Building & Construction [1.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Building & Construction [1.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Building & Construction [1.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Building & Construction [1.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ashton Woods USA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ashton Woods USA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 08/01/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 08/01/33(A) | 585 | 590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Assemblin Caverion Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Assemblin Caverion Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, EUR003M + 3.500%, 07/01/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, EUR003M + 3.500%, 07/01/31(B) | 700 | 825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brundage-Bone Concrete Pumping Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brundage-Bone Concrete Pumping Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 02/01/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 02/01/32(A) | 2455 | 2479 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dream Finders Homes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dream Finders Homes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 08/15/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 08/15/28(A) | 1296 | 1345 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forestar Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forestar Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 03/01/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 03/01/28(A) | 628 | 622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forestar Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forestar Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 03/15/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 03/15/33(A) | 1729 | 1769 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Knife River | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Knife River |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 05/01/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 05/01/31(A) | 1380 | 1448 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LGI Homes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LGI Homes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 12/15/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 12/15/28(A) | 590 | 619 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Limak Cimento Sanayi ve Ticaret | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Limak Cimento Sanayi ve Ticaret |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 07/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 07/25/29 | 1930 | 1982 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Home | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Home |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 10/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 10/01/29(A) | 1709 | 1796 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Smyrna Ready Mix Concrete | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Smyrna Ready Mix Concrete |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 11/01/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 11/01/28(A) | $590 | $590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Smyrna Ready Mix Concrete | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Smyrna Ready Mix Concrete |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.875%, 11/15/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.875%, 11/15/31(A) | 1665 | 1757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Winnebago Industries | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Winnebago Industries |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 07/15/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 07/15/28(A) | 410 | 409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Yuksel Insaat | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Yuksel Insaat |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.500%, 11/10/15(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.500%, 11/10/15(C) | 12655 | 127 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Building & Construction** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Building & Construction** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Building & Construction** | 16358 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Building Materials [0.9%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Building Materials [0.9%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Building Materials [0.9%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Building Materials [0.9%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Builders & Contractors Supply | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Builders & Contractors Supply |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 01/15/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 01/15/28(A) | 350 | 343 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Builders & Contractors Supply | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Builders & Contractors Supply |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 11/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 11/15/29(A) | 400 | 380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CP Atlas Buyer | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CP Atlas Buyer |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 07/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 07/15/30(A) | 600 | 628 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CP Atlas Buyer | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CP Atlas Buyer |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12.750%, 01/15/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12.750%, 01/15/31(A) | 775 | 774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foundation Building Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foundation Building Materials |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 03/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 03/01/29(A) | 1955 | 1981 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interface | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interface |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 12/01/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 12/01/28(A) | 1075 | 1073 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterbrand | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Masterbrand |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 07/15/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 07/15/32(A) | 1580 | 1633 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Miter Brands Acquisition Holdco | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Miter Brands Acquisition Holdco |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 04/01/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 04/01/32(A) | 475 | 488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MIWD Holdco II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MIWD Holdco II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 02/01/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 02/01/30(A) | 500 | 487 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Patrick Industries | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Patrick Industries |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 11/01/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 11/01/32(A) | 750 | 761 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quikrete Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quikrete Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 03/01/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 03/01/32(A) | 713 | 739 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quikrete Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quikrete Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 03/01/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 03/01/33(A) | 898 | 933 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; QXO Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; QXO Building Products |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 04/30/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 04/30/32(A) | 1000 | 1034 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Standard Building Solutions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Standard Building Solutions |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 08/15/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 08/15/32(A) | 475 | 488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Standard Building Solutions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Standard Building Solutions |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 08/01/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 08/01/33(A) | 495 | 501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Standard Industries | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Standard Industries |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 01/15/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 01/15/28(A) | 1150 | 1138 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 26

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TopBuild | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TopBuild |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 01/31/34(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 01/31/34(A) | $575 | 574 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; White Capital Buyer | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; White Capital Buyer |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 10/15/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 10/15/28(A) | 1835 | 1828 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Building Materials** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Building Materials** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Building Materials** | 15783 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Building-Heavy Construct [0.8%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Building-Heavy Construct [0.8%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Building-Heavy Construct [0.8%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Building-Heavy Construct [0.8%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arcosa | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arcosa |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 08/15/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 08/15/32(A) | 775 | 810 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ATP Tower Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ATP Tower Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 02/03/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 02/03/30(A) | 3700 | 3808 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HTA Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HTA Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 06/04/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 06/04/29(A) | 3122 | 3238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IHS Holding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IHS Holding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 11/29/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 11/29/31 | 1970 | 2067 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IRB Infrastructure Developers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IRB Infrastructure Developers |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.110%, 03/11/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.110%, 03/11/32 | 3700 | 3843 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Building-Heavy Construct** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Building-Heavy Construct** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Building-Heavy Construct** | 13766 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Cable Satellite [1.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Cable Satellite [1.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Cable Satellite [1.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Cable Satellite [1.2%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCO Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCO Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 05/01/27(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 05/01/27(A) | 1600 | 1589 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCO Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCO Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 02/01/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 02/01/28(A) | 1200 | 1187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCO Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCO Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 06/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 06/01/29(A) | 250 | 248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCO Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCO Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 08/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 08/15/30(A) | 550 | 519 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 05/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 05/01/32 | 150 | 137 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCO Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCO Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 02/01/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 02/01/31(A) | 150 | 138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 01/15/34(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 01/15/34(A) | 900 | 777 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCO Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCO Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 03/01/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 03/01/31(A) | 2154 | 2226 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCO Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CCO Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 02/01/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 02/01/32(A) | 200 | 185 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CSC Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CSC Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 12/01/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 12/01/30(A) | 400 | 262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CSC Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CSC Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 02/15/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 02/15/31(A) | 400 | 258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CSC Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CSC Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/15/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/15/31(A) | 1050 | 683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DIRECTV Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DIRECTV Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 08/15/27(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 08/15/27(A) | 487 | 486 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sirius XM Radio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sirius XM Radio |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 07/15/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 07/15/28(A) | 1540 | 1487 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sirius XM Radio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sirius XM Radio |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 07/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 07/01/29(A) | 1250 | 1250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sirius XM Radio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sirius XM Radio |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 09/01/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 09/01/31(A) | $350 | $317 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sunrise FinCo I BV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sunrise FinCo I BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 07/15/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 07/15/31(A) | 1275 | 1215 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Telenet Finance Luxembourg Notes Sarl | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Telenet Finance Luxembourg Notes Sarl |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 03/01/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 03/01/28(A) | 1400 | 1392 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Virgin Media Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Virgin Media Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 07/15/30(A) | 700 | 650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Virgin Media Secured Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Virgin Media Secured Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 05/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 05/15/29(A) | 1425 | 1409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Virgin Media Secured Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Virgin Media Secured Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 08/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 08/15/30(A) | 825 | 778 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vmed O2 UK Financing I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vmed O2 UK Financing I |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 07/15/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 07/15/31(A) | 1630 | 1534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VZ Secured Financing BV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VZ Secured Financing BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 01/15/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 01/15/32(A) | 400 | 362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ziggo Bond BV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ziggo Bond BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 02/28/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 02/28/30(A) | 425 | 385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ziggo BV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ziggo BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 01/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 01/15/30(A) | 350 | 330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Cable Satellite** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Cable Satellite** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Cable Satellite** | 19804 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Chemicals [1.8%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Chemicals [1.8%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Chemicals [1.8%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Chemicals [1.8%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ashland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ashland |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 09/01/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 09/01/31(A) | 500 | 443 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Axalta Coating Systems | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Axalta Coating Systems |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 06/15/27(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 06/15/27(A) | 700 | 697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Axalta Coating Systems | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Axalta Coating Systems |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 02/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 02/15/29(A) | 250 | 237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Celanese US Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Celanese US Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 04/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 04/15/30 | 100 | 101 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Celanese US Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Celanese US Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 04/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 04/15/33 | 1075 | 1071 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Celanese US Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Celanese US Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.200%, 11/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.200%, 11/15/33 | 1095 | 1137 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consolidated Energy Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consolidated Energy Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 05/15/26(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 05/15/26(A) | 355 | 346 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consolidated Energy Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consolidated Energy Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12.000%, 02/15/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12.000%, 02/15/31(A) | 520 | 477 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Element Solutions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Element Solutions |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 09/01/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 09/01/28(A) | 525 | 509 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GC Treasury Center | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GC Treasury Center |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.125%, H15T5Y + 3.162%, 03/10/74(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.125%, H15T5Y + 3.162%, 03/10/74(A) (B) | 1510 | 1560 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 27

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Value (000) | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GC Treasury Center | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GC Treasury Center |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, H15T5Y + 2.815%, 06/10/74(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, H15T5Y + 2.815%, 06/10/74(A) (B) | $| 1890 | $| 1912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HB Fuller | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HB Fuller |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 10/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 10/15/28 |  | 775 |  | 754 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Herens Holdco Sarl | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Herens Holdco Sarl |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 05/15/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 05/15/28(A) |  | 450 |  | 394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illuminate Buyer | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illuminate Buyer |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 07/01/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 07/01/28(A) |  | 575 |  | 577 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; INEOS Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; INEOS Finance |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 05/15/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 05/15/28(A) |  | 2260 |  | 2218 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; INEOS Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; INEOS Finance |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 03/31/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 03/31/31 | EUR | 750 |  | 879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Inversion Escrow Issuer | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Inversion Escrow Issuer |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 08/01/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 08/01/32(A) |  | 925 |  | 911 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mativ Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mativ Holdings |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 10/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 10/01/29(A) |  | 2075 |  | 2054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maxam Prill Sarl | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maxam Prill Sarl |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 07/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 07/15/30(A) |  | 750 |  | 758 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; OCP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; OCP |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 05/02/54(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 05/02/54(A) |  | 3300 |  | 3654 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Olympus Water US Holding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Olympus Water US Holding |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 10/01/27(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 10/01/27(A) |  | 375 |  | 382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Olympus Water US Holding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Olympus Water US Holding |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 11/15/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 11/15/28(A) |  | 325 |  | 341 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Olympus Water US Holding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Olympus Water US Holding |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 10/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 10/01/29(A) |  | 625 |  | 606 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Olympus Water US Holding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Olympus Water US Holding |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 06/15/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 06/15/31(A) |  | 500 |  | 507 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 02/15/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 02/15/33(A) |  | 500 |  | 500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Orbia Advance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Orbia Advance |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 05/13/35(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 05/13/35(A) |  | 5010 |  | 5271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Orbia Advance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Orbia Advance |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 09/17/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 09/17/44 |  | 486 |  | 415 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Qnity Electronics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Qnity Electronics |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 08/15/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 08/15/32(A) |  | 125 |  | 126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Qnity Electronics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Qnity Electronics |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 08/15/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 08/15/33(A) |  | 150 |  | 153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SNF Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SNF Group |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 03/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 03/15/30(A) |  | 275 |  | 255 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Solstice Advanced Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Solstice Advanced Materials |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 09/30/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 09/30/33(A) |  | 275 |  | 276 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WR Grace Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WR Grace Holdings |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 06/15/27(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 06/15/27(A) |  | 281 |  | 279 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WR Grace Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WR Grace Holdings |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 08/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 08/15/29(A) |  | 550 |  | 511 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WR Grace Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WR Grace Holdings |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 08/15/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 08/15/32(A) | $| 250 | $| 247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Chemicals** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Chemicals** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Chemicals** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Chemicals** |  | 30558 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Coal Mining [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Coal Mining [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Coal Mining [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Coal Mining [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Coal Mining [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Coal Mining [0.2%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Coronado Finance Pty | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Coronado Finance Pty |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 10/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 10/01/29(A) |  | 1832 |  | 1613 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mongolian Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mongolian Mining |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.440%, 04/03/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.440%, 04/03/30 |  | 1250 |  | 1266 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New World Resources | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New World Resources |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 04/07/20(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 04/07/20(C) | EUR | 1101 |  | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Warrior Met Coal | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Warrior Met Coal |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 12/01/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 12/01/28(A) |  | 1097 |  | 1113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Coal Mining** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Coal Mining** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Coal Mining** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Coal Mining** |  | 3994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Commercial Serv-Finance [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Commercial Serv-Finance [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Commercial Serv-Finance [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Commercial Serv-Finance [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Commercial Serv-Finance [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Commercial Serv-Finance [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Block | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Block |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 08/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 08/15/30(A) |  | 114 |  | 115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Block | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Block |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 08/15/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 08/15/33(A) |  | 114 |  | 117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ION Platform Finance US | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ION Platform Finance US |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 09/30/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 09/30/32(A) |  | 265 |  | 263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Commercial Serv-Finance** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Commercial Serv-Finance** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Commercial Serv-Finance** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Commercial Serv-Finance** |  | 495 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Commercial Services [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Commercial Services [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Commercial Services [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Commercial Services [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Commercial Services [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Commercial Services [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SD International Sukuk, MTN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SD International Sukuk, MTN |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.300%, 05/09/22(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.300%, 05/09/22(C) |  | 13384 |  | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Communication & Media [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Communication & Media [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Communication & Media [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Communication & Media [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Communication & Media [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Communication & Media [0.2%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Globo Comunicacao e Participacoes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Globo Comunicacao e Participacoes |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 01/14/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 01/14/32 |  | 200 |  | 194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 01/14/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 01/14/32(A) |  | 2457 |  | 2376 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Communication & Media** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Communication & Media** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Communication & Media** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Communication & Media** |  | 2570 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Computers-Memory Devices [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Computers-Memory Devices [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Computers-Memory Devices [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Computers-Memory Devices [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Computers-Memory Devices [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Computers-Memory Devices [0.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Seagate Data Storage Technology Pte | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Seagate Data Storage Technology Pte |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 12/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 12/15/29(A) |  | 911 |  | 964 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Seagate Data Storage Technology Pte | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Seagate Data Storage Technology Pte |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 12/01/34(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 12/01/34(A) |  | 510 |  | 508 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Computers-Memory Devices** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Computers-Memory Devices** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Computers-Memory Devices** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Computers-Memory Devices** |  | 1472 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 28

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Construction Machinery [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Construction Machinery [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Construction Machinery [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Construction Machinery [0.2%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Herc Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Herc Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 06/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 06/15/30(A) | $450 | $467 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Herc Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Herc Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 06/15/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 06/15/33(A) | 475 | 496 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terex | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terex |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 05/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 05/15/29(A) | 805 | 793 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United Rentals North America | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United Rentals North America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 05/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 05/15/27 | 424 | 424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United Rentals North America | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United Rentals North America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 01/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 01/15/28 | 600 | 598 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Construction Machinery** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Construction Machinery** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Construction Machinery** | 2778 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Consumer Cyclical Services [0.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Consumer Cyclical Services [0.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Consumer Cyclical Services [0.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Consumer Cyclical Services [0.5%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allied Universal Holdco | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allied Universal Holdco |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 06/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 06/01/29(A) | 725 | 713 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allied Universal Holdco | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allied Universal Holdco |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 06/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 06/15/30(A) | 375 | 385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allied Universal Holdco | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allied Universal Holdco |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 02/15/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 02/15/31(A) | 800 | 839 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brink's | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brink's |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 06/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 06/15/29(A) | 350 | 360 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brink's | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brink's |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 06/15/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 06/15/32(A) | 350 | 364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cars.com | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cars.com |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 11/01/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 11/01/28(A) | 500 | 498 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Garda World Security | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Garda World Security |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 06/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 06/01/29(A) | 1250 | 1239 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Garda World Security | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Garda World Security |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 08/01/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 08/01/32(A) | 475 | 492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Garda World Security | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Garda World Security |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 11/15/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 11/15/32(A) | 725 | 753 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Go Daddy Operating | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Go Daddy Operating |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 12/01/27(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 12/01/27(A) | 725 | 724 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Match Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Match Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/15/27(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/15/27(A) | 1000 | 997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Match Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Match Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 06/01/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 06/01/28(A) | 250 | 246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Match Group Holdings II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Match Group Holdings II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 09/15/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 09/15/33(A) | 450 | 454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Cyclical Services** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Cyclical Services** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Cyclical Services** | 8064 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Consumer Products [0.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Consumer Products [0.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Consumer Products [0.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Consumer Products [0.4%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Beach Acquisition Bidco | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Beach Acquisition Bidco |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.000% PIK, 07/15/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.000% PIK, 07/15/33(A) | 1150 | 1241 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Champ Acquisition | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Champ Acquisition |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 12/01/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 12/01/31(A) | $1207 | $1283 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Edgewell Personal Care | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Edgewell Personal Care |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 06/01/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 06/01/28(A) | 725 | 724 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Edgewell Personal Care | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Edgewell Personal Care |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 04/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 04/01/29(A) | 325 | 309 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energizer Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energizer Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 06/15/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 06/15/28(A) | 200 | 196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energizer Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energizer Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 03/31/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 03/31/29(A) | 850 | 815 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energizer Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energizer Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 09/15/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 09/15/33(A) | 775 | 757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Whirlpool | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Whirlpool |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 06/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 06/15/30 | 1063 | 1071 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Whirlpool | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Whirlpool |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 06/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 06/15/33 | 575 | 573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Products** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Products** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Products** | 6969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Containers & Packaging [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Containers & Packaging [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Containers & Packaging [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Containers & Packaging [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sealed Air | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sealed Air |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 07/15/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 07/15/33(A) | 605 | 657 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Dialysis Centers [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Dialysis Centers [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Dialysis Centers [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Dialysis Centers [0.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DaVita | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DaVita |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 09/01/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 09/01/32(A) | 1105 | 1141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Distribution/Wholesale [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Distribution/Wholesale [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Distribution/Wholesale [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Distribution/Wholesale [0.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Windsor Holdings III | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Windsor Holdings III |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 06/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 06/15/30(A) | 1000 | 1059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Diversified Manufacturing [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Diversified Manufacturing [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Diversified Manufacturing [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Diversified Manufacturing [0.2%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EMRLD Borrower | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EMRLD Borrower |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 12/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 12/15/30(A) | 1500 | 1542 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Enpro | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Enpro |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 06/01/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 06/01/33(A) | 125 | 128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gates |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 07/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 07/01/29(A) | 400 | 415 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WESCO Distribution | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WESCO Distribution |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 06/15/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 06/15/28(A) | 800 | 810 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WESCO Distribution | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WESCO Distribution |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 03/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 03/15/29(A) | 100 | 103 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 03/15/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 03/15/33(A) | 328 | 340 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WESCO Distribution | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WESCO Distribution |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 03/15/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 03/15/32(A) | 150 | 156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Diversified Manufacturing** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Diversified Manufacturing** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Diversified Manufacturing** | 3494 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 29

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Drugs [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Drugs [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Drugs [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Drugs [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Neopharmed Gentili SPA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Neopharmed Gentili SPA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.276%, EUR003M + 4.250%, 04/08/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.276%, EUR003M + 4.250%, 04/08/30(B) | 400 | $475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Organon | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Organon |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 04/30/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 04/30/28 | 590 | 675 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Drugs** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Drugs** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Drugs** | 1150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **E-Commerce/Products [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **E-Commerce/Products [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **E-Commerce/Products [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **E-Commerce/Products [0.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ANGI Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ANGI Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 08/15/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 08/15/28(A) | 1581 | 1486 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Electric Utilities [0.8%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Electric Utilities [0.8%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Electric Utilities [0.8%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Electric Utilities [0.8%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AES Andes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AES Andes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.150%, H15T5Y + 3.835%, 06/10/55(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.150%, H15T5Y + 3.835%, 06/10/55(A) (B) | 1540 | 1629 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hawaiian Electric | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hawaiian Electric |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 10/01/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 10/01/33(A) | 575 | 580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lightning Power | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lightning Power |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 08/15/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 08/15/32(A) | 2218 | 2348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mong Duong Finance Holdings BV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mong Duong Finance Holdings BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 05/07/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 05/07/29 | 3076 | 3043 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pike | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pike |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 01/31/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 01/31/31(A) | 1199 | 1286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Star Energy Geothermal Wayang Windu | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Star Energy Geothermal Wayang Windu |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 04/24/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 04/24/33 | 3861 | 3991 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vistra | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vistra |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.000%, H15T5Y + 6.930%, 04/15/74(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.000%, H15T5Y + 6.930%, 04/15/74(A) (B) | 1130 | 1156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Electric Utilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Electric Utilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Electric Utilities** | 14033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Electric-Distribution [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Electric-Distribution [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Electric-Distribution [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Electric-Distribution [0.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zorlu Enerji Elektrik Uretim | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zorlu Enerji Elektrik Uretim |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.000%, 04/23/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.000%, 04/23/30 | 2100 | 1931 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Energy & Power [0.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Energy & Power [0.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Energy & Power [0.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Energy & Power [0.6%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FS Luxembourg Sarl | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FS Luxembourg Sarl |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.875%, 02/12/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.875%, 02/12/31 | 4580 | 4797 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.875%, 02/12/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.875%, 02/12/31(A) | 1900 | 1990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Greenko Wind Projects Mauritius | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Greenko Wind Projects Mauritius |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 09/27/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 09/27/28(A) | 2960 | 3014 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Energy & Power** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Energy & Power** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Energy & Power** | 9801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Entertainment & Gaming [0.7%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Entertainment & Gaming [0.7%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Entertainment & Gaming [0.7%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Entertainment & Gaming [0.7%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flutter Treasury DAC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flutter Treasury DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/04/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/04/31 | 100 | $118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IGT Lottery Holdings BV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IGT Lottery Holdings BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 03/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 03/15/30 | 430 | 513 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lottomatica Group Spa | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lottomatica Group Spa |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.297%, EUR003M + 3.250%, 06/01/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.297%, EUR003M + 3.250%, 06/01/31(B) | 200 | 236 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Melco Resorts Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Melco Resorts Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 07/21/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 07/21/28 | 2100 | 2093 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Melco Resorts Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Melco Resorts Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 12/04/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 12/04/29 | 3850 | 3775 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Station Casinos | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Station Casinos |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 03/15/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 03/15/32(A) | 545 | 560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Studio City Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Studio City Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 01/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 01/15/28 | 4000 | 3998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Voyager Parent | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Voyager Parent |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 07/01/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 07/01/32(A) | 311 | 329 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wynn Macau | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wynn Macau |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 08/26/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 08/26/28 | 900 | 899 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Entertainment & Gaming** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Entertainment & Gaming** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Entertainment & Gaming** | 12521 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Environmental [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Environmental [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Environmental [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Environmental [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clean Harbors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clean Harbors |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 10/15/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 10/15/33(A) | 300 | 303 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Finance Companies [1.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Finance Companies [1.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Finance Companies [1.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Finance Companies [1.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Boost Newco Borrower | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Boost Newco Borrower |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 01/15/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 01/15/31(A) | 2165 | 2297 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CrossCountry Intermediate HoldCo | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CrossCountry Intermediate HoldCo |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 10/01/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 10/01/30(A) | 550 | 552 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Macquarie Airfinance Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Macquarie Airfinance Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.125%, 03/30/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.125%, 03/30/29(A) | 1110 | 1156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Navient | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Navient |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 03/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 03/15/27 | 750 | 747 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rocket | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rocket |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 08/01/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 08/01/30(A) | 50 | 51 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rocket | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rocket |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 08/01/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 08/01/33(A) | 2750 | 2841 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rocket Mortgage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rocket Mortgage |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 03/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 03/01/29(A) | 350 | 334 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rocket Mortgage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rocket Mortgage |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 03/01/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 03/01/31(A) | 950 | 887 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rocket Mortgage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rocket Mortgage |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/15/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/15/33(A) | 1165 | 1064 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United Wholesale Mortgage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United Wholesale Mortgage |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 11/15/25(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 11/15/25(A) | 1690 | 1689 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 04/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 04/15/29(A) | 3353 | 3308 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 30

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UWM Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UWM Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 02/01/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 02/01/30(A) | $1550 | $1578 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UWM Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UWM Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 03/15/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 03/15/31(A) | 225 | 224 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Finance Companies** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Finance Companies** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Finance Companies** | 16728 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Financial Services [2.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Financial Services [2.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Financial Services [2.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Financial Services [2.5%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ASG Finance DAC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ASG Finance DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 05/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 05/15/29(A) | 6040 | 5842 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bread Financial Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bread Financial Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 03/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 03/15/29(A) | 940 | 1003 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Burford Capital Global Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Burford Capital Global Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 07/15/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 07/15/33(A) | 620 | 631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CSN Inova Ventures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CSN Inova Ventures |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 01/28/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 01/28/28(A) | 2980 | 2895 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Enact Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Enact Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 05/28/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 05/28/29 | 2185 | 2285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Encore Capital Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Encore Capital Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 06/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 06/01/28 | 500 | 642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Encore Capital Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Encore Capital Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 04/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 04/01/29(A) | 2135 | 2250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Enova International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Enova International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.250%, 12/15/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.250%, 12/15/28(A) | 1185 | 1261 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Enova International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Enova International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.125%, 08/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.125%, 08/01/29(A) | 1170 | 1232 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Freedom Mortgage Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Freedom Mortgage Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 02/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 02/01/29(A) | 754 | 796 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Freedom Mortgage Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Freedom Mortgage Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 04/01/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 04/01/32(A) | 650 | 681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Freedom Mortgage Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Freedom Mortgage Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 04/01/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 04/01/33(A) | 209 | 215 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Garfunkelux Holdco 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Garfunkelux Holdco 3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 09/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 09/01/28 | 238 | 284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Garfunkelux Holdco 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Garfunkelux Holdco 3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.500%, 11/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.500%, 11/01/28 | 948 | 711 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Garfunkelux Holdco 4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Garfunkelux Holdco 4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.500%, 05/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.500%, 05/01/30 | 193 | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GGAM Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GGAM Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 02/15/27(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 02/15/27(A) | 1265 | 1295 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; goeasy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; goeasy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 12/01/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 12/01/28(A) | 580 | 606 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; goeasy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; goeasy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.625%, 07/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.625%, 07/01/29(A) | 1515 | 1534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Iqera Group SAS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Iqera Group SAS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.536%, EUR003M + 4.500%, 04/30/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.536%, EUR003M + 4.500%, 04/30/30(B) | 727 | 623 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jefferies Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jefferies Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 08/15/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 08/15/28(A) | $965 | $932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jefferies Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jefferies Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 10/15/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 10/15/31(A) | 1485 | 1494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jefferson Capital Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jefferson Capital Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.500%, 02/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.500%, 02/15/29(A) | 1110 | 1169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jefferson Capital Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jefferson Capital Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 05/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 05/15/30(A) | 1102 | 1153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationstar Mortgage Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationstar Mortgage Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 08/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 08/01/29(A) | 440 | 452 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationstar Mortgage Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationstar Mortgage Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 11/15/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 11/15/31(A) | 900 | 909 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationstar Mortgage Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationstar Mortgage Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 02/01/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 02/01/32(A) | 287 | 300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; OneMain Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; OneMain Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 03/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 03/15/30 | 1080 | 1143 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; OneMain Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; OneMain Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 03/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 03/15/32 | 450 | 459 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PennyMac Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PennyMac Financial Services |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 12/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 12/15/29(A) | 575 | 610 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PennyMac Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PennyMac Financial Services |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 02/15/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 02/15/33(A) | 640 | 661 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Phoenix Aviation Capital | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Phoenix Aviation Capital |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 07/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 07/15/30(A) | 605 | 644 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PRA Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PRA Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/01/29(A) | 1250 | 1161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PRA Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PRA Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.875%, 01/31/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.875%, 01/31/30(A) | 1052 | 1086 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provident Funding Associates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provident Funding Associates |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 09/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 09/15/29(A) | 1068 | 1128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sobha Sukuk | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sobha Sukuk |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 07/17/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 07/17/28 | 2778 | 2904 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TrueNoord Capital DAC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TrueNoord Capital DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 03/01/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 03/01/30(A) | 710 | 754 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Financial Services** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Financial Services** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Financial Services** | 41769 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Food & Beverage [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Food & Beverage [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Food & Beverage [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Food & Beverage [0.3%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BellRing Brands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BellRing Brands |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 03/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 03/15/30(A) | 925 | 956 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Froneri Lux FinCo SARL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Froneri Lux FinCo SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 08/01/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 08/01/32(A) | 1225 | 1226 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Performance Food Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Performance Food Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 08/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 08/01/29(A) | 925 | 899 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Performance Food Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Performance Food Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 09/15/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 09/15/32(A) | 50 | 51 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 31

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Post Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Post Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 02/15/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 02/15/32(A) | $400 | $411 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; US Foods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; US Foods |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 09/15/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 09/15/28(A) | 375 | 386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; US Foods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; US Foods |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 02/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 02/15/29(A) | 475 | 468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; US Foods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; US Foods |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 04/15/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 04/15/33(A) | 375 | 377 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Food & Beverage** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Food & Beverage** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Food & Beverage** | 4774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Food, Beverage & Tobacco [0.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Food, Beverage & Tobacco [0.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Food, Beverage & Tobacco [0.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Food, Beverage & Tobacco [0.6%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health & Happiness H&H International Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health & Happiness H&H International Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.125%, 07/24/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.125%, 07/24/28 | 5580 | 5926 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Minerva Luxembourg | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Minerva Luxembourg |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 03/18/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 03/18/31(A) | 2425 | 2230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Simmons Foods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Simmons Foods |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 03/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 03/01/29(A) | 855 | 820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Turning Point Brands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Turning Point Brands |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.625%, 03/15/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.625%, 03/15/32(A) | 1268 | 1341 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Food, Beverage & Tobacco** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Food, Beverage & Tobacco** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Food, Beverage & Tobacco** | 10317 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Food-Baking [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Food-Baking [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Food-Baking [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Food-Baking [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sammontana Italia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sammontana Italia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.776%, EUR003M + 3.750%, 10/15/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.776%, EUR003M + 3.750%, 10/15/31(B) | 195 | 230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Food-Flour and Grain [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Food-Flour and Grain [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Food-Flour and Grain [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Food-Flour and Grain [0.2%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aragvi Finance International DAC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aragvi Finance International DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.125%, 11/20/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.125%, 11/20/29(A) | 3500 | 3518 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gaming [0.8%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gaming [0.8%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gaming [0.8%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gaming [0.8%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affinity Interactive | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affinity Interactive |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 12/15/27(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 12/15/27(A) | 250 | 142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Boyd Gaming | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Boyd Gaming |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 12/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 12/01/27 | 875 | 870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Caesars Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Caesars Entertainment |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 10/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 10/15/29(A) | 575 | 550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Caesars Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Caesars Entertainment |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 02/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 02/15/30(A) | 225 | 231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Caesars Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Caesars Entertainment |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 02/15/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 02/15/32(A) | 425 | 434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Caesars Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Caesars Entertainment |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 10/15/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 10/15/32(A) | 1275 | 1256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Churchill Downs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Churchill Downs |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 04/01/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 04/01/30(A) | 150 | 150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Churchill Downs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Churchill Downs |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 05/01/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 05/01/31(A) | 1110 | 1138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Light & Wonder International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Light & Wonder International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 11/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 11/15/29(A) | $125 | $128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Light & Wonder International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Light & Wonder International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 09/01/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 09/01/31(A) | 925 | 963 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Light & Wonder International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Light & Wonder International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 10/01/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 10/01/33(A) | 810 | 811 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MGM Resorts International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MGM Resorts International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 09/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 09/15/29 | 550 | 560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MGM Resorts International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MGM Resorts International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 04/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 04/15/32 | 1650 | 1681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Midwest Gaming Borrower | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Midwest Gaming Borrower |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 05/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 05/01/29(A) | 775 | 753 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rivers Enterprise Lender | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rivers Enterprise Lender |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 10/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 10/15/30(A) | 375 | 378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Station Casinos | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Station Casinos |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 02/15/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 02/15/28(A) | 2140 | 2104 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Station Casinos | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Station Casinos |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 12/01/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 12/01/31(A) | 960 | 905 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wynn Resorts Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wynn Resorts Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 02/15/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 02/15/31(A) | 475 | 512 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wynn Resorts Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wynn Resorts Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 03/15/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 03/15/33(A) | 350 | 355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Gaming** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Gaming** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Gaming** | 13921 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gold Mining [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gold Mining [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gold Mining [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gold Mining [0.2%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aris Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aris Mining |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 10/31/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 10/31/29(A) | 3870 | 4024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Health Insurance [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Health Insurance [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Health Insurance [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Health Insurance [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Molina Healthcare | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Molina Healthcare |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 01/15/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 01/15/33(A) | 425 | 429 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Healthcare [0.8%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Healthcare [0.8%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Healthcare [0.8%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Healthcare [0.8%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AHP Health Partners | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AHP Health Partners |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 07/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 07/15/29(A) | 750 | 738 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Avantor Funding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Avantor Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 07/15/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 07/15/28(A) | 875 | 861 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CHS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CHS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 01/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 01/15/29(A) | 250 | 243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CHS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CHS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 04/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 04/15/29(A) | 700 | 556 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CHS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CHS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 05/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 05/15/30(A) | 200 | 181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CHS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CHS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 01/15/34(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 01/15/34(A) | 350 | 359 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 32

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Concentra Health Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Concentra Health Services |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 07/15/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 07/15/32(A) | $475 | $493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DaVita | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DaVita |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 06/01/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 06/01/30(A) | 220 | 211 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Embecta | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Embecta |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 02/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 02/15/30(A) | 225 | 219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insulet | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insulet |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 04/01/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 04/01/33(A) | 963 | 1001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IQVIA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IQVIA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/15/26(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/15/26(A) | 1075 | 1074 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IQVIA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IQVIA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 06/01/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 06/01/32(A) | 625 | 643 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Medline Borrower | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Medline Borrower |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 04/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 04/01/29(A) | 525 | 539 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Medline Borrower | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Medline Borrower |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 10/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 10/01/29(A) | 1900 | 1883 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Neogen Food Safety | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Neogen Food Safety |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 07/20/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 07/20/30(A) | 75 | 78 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Raven Acquisition Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Raven Acquisition Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 11/15/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 11/15/31(A) | 1025 | 1054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Select Medical | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Select Medical |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 12/01/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 12/01/32(A) | 800 | 800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tenet Healthcare | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tenet Healthcare |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 02/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 02/01/27 | 200 | 200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tenet Healthcare | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tenet Healthcare |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 11/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 11/01/27 | 1225 | 1222 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tenet Healthcare | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tenet Healthcare |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 10/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 10/01/28 | 575 | 575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tenet Healthcare | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tenet Healthcare |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 05/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 05/15/31 | 450 | 466 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Healthcare** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Healthcare** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Healthcare** | 13396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Homebuilders/Materials/Construction [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Homebuilders/Materials/Construction [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Homebuilders/Materials/Construction [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Homebuilders/Materials/Construction [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Victoria | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Victoria |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 03/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 03/15/28 | 381 | 105 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Hotels and Motels [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Hotels and Motels [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Hotels and Motels [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Hotels and Motels [0.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Marriott Ownership Resorts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Marriott Ownership Resorts |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 01/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 01/15/28 | 1045 | 1028 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Travel + Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Travel + Leisure |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 07/31/26(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 07/31/26(A) | 938 | 945 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Hotels and Motels** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Hotels and Motels** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Hotels and Motels** | 1973 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Independent Energy [0.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Independent Energy [0.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Independent Energy [0.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Independent Energy [0.6%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aethon United BR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aethon United BR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 10/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 10/01/29(A) | 475 | 495 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Antero Resources | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Antero Resources |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.625%, 02/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.625%, 02/01/29(A) | 159 | 162 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ascent Resources Utica Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ascent Resources Utica Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 11/01/27(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 11/01/27(A) | $375 | $453 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ascent Resources Utica Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ascent Resources Utica Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 10/15/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 10/15/32(A) | 1008 | 1029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 07/15/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 07/15/33(A) | 400 | 405 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chord Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chord Energy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 10/01/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 10/01/30(A) | 872 | 866 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Civitas Resources | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Civitas Resources |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 07/01/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 07/01/28(A) | 325 | 337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Civitas Resources | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Civitas Resources |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 11/01/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 11/01/30(A) | 350 | 362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Civitas Resources | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Civitas Resources |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 07/01/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 07/01/31(A) | 150 | 153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Civitas Resources | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Civitas Resources |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.625%, 06/15/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.625%, 06/15/33(A) | 125 | 132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CNX Resources | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CNX Resources |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 03/01/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 03/01/32(A) | 575 | 597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Comstock Resources | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Comstock Resources |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 03/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 03/01/29(A) | 925 | 923 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 04/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 04/01/29 | 275 | 285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expand Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expand Energy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 10/01/24(C) (D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 10/01/24(C) (D) | 575 | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expand Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expand Energy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 03/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 03/15/30 | 300 | 305 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Matador Resources | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Matador Resources |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 04/15/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 04/15/32(A) | 875 | 883 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Matador Resources | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Matador Resources |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 04/15/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 04/15/33(A) | 100 | 101 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Permian Resources Operating | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Permian Resources Operating |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 02/01/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 02/01/33(A) | 175 | 178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Range Resources | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Range Resources |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 01/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 01/15/29 | 500 | 512 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SM Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SM Energy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 09/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 09/15/26 | 625 | 625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SM Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SM Energy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 08/01/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 08/01/32(A) | 100 | 100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TGNR Intermediate Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TGNR Intermediate Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 10/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 10/15/29(A) | 725 | 709 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Independent Energy** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Independent Energy** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Independent Energy** | 9614 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Industrial - Other [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Industrial - Other [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Industrial - Other [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Industrial - Other [0.2%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hillenbrand | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hillenbrand |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 02/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 02/15/29 | 325 | 333 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Madison IAQ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Madison IAQ |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 06/30/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 06/30/29(A) | 1850 | 1827 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 33

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SPX FLOW | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SPX FLOW |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 04/01/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 04/01/30(A) | $900 | $924 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Industrial - Other** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Industrial - Other** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Industrial - Other** | 3084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Insurance [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Insurance [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Insurance [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Insurance [0.2%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Howden UK Refinance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Howden UK Refinance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 02/15/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 02/15/31(A) | 500 | 515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Howden UK Refinance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Howden UK Refinance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.125%, 02/15/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.125%, 02/15/32(A) | 2240 | 2324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Insurance** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Insurance** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Insurance** | 2839 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Insurance - P&C [1.7%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Insurance - P&C [1.7%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Insurance - P&C [1.7%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Insurance - P&C [1.7%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acrisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acrisure |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 11/06/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 11/06/30(A) | 1570 | 1635 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acrisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acrisure |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 07/01/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 07/01/32(A) | 125 | 129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alliant Holdings Intermediate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alliant Holdings Intermediate |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 10/15/27(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 10/15/27(A) | 1080 | 1082 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alliant Holdings Intermediate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alliant Holdings Intermediate |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 11/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 11/01/29(A) | 375 | 373 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alliant Holdings Intermediate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alliant Holdings Intermediate |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 01/15/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 01/15/31(A) | 725 | 749 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alliant Holdings Intermediate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alliant Holdings Intermediate |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 10/01/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 10/01/32(A) | 350 | 361 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AmWINS Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AmWINS Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 02/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 02/15/29(A) | 125 | 127 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AmWINS Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AmWINS Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 06/30/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 06/30/29(A) | 1300 | 1264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amynta Agency Borrower and Amynta Warranty Borrower Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amynta Agency Borrower and Amynta Warranty Borrower Inc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 07/15/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 07/15/33(A) | 675 | 691 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ardonagh Finco | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ardonagh Finco |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 02/15/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 02/15/31(A) | 2855 | 2987 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ardonagh Group Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ardonagh Group Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.875%, 02/15/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.875%, 02/15/32(A) | 2425 | 2551 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Baldwin Insurance Group Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Baldwin Insurance Group Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 05/15/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 05/15/31(A) | 2320 | 2409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BroadStreet Partners | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BroadStreet Partners |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 04/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 04/15/29(A) | 1575 | 1571 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HUB International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HUB International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 12/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 12/01/29(A) | 1075 | 1074 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HUB International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HUB International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 06/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 06/15/30(A) | 1450 | 1512 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HUB International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HUB International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 01/31/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 01/31/32(A) | $1150 | $1197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jones Deslauriers Insurance Management | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jones Deslauriers Insurance Management |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 03/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 03/15/30(A) | 875 | 920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jones Deslauriers Insurance Management | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jones Deslauriers Insurance Management |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 10/01/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 10/01/33(A) | 700 | 696 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Panther Escrow Issuer | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Panther Escrow Issuer |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 06/01/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 06/01/31(A) | 2350 | 2444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ryan Specialty | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ryan Specialty |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 02/01/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 02/01/30(A) | 300 | 289 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ryan Specialty | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ryan Specialty |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 08/01/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 08/01/32(A) | 2597 | 2627 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USI | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USI |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 01/15/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 01/15/32(A) | 1600 | 1676 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Insurance - P&C** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Insurance - P&C** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Insurance - P&C** | 28364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Internet Connectiv Svcs [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Internet Connectiv Svcs [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Internet Connectiv Svcs [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Internet Connectiv Svcs [0.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United Group BV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United Group BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.286%, EUR003M + 4.250%, 02/01/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.286%, EUR003M + 4.250%, 02/01/29(B) | 500 | 588 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.286%, EUR003M + 4.250%, 02/15/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.286%, EUR003M + 4.250%, 02/15/31(B) | 630 | 742 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Internet Connectiv Svcs** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Internet Connectiv Svcs** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Internet Connectiv Svcs** | 1330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Internet Content-Entmnt [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Internet Content-Entmnt [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Internet Content-Entmnt [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Internet Content-Entmnt [0.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Snap | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Snap |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 03/01/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 03/01/33(A) | 1125 | 1150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Investment Bank/Broker-Dealer [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Investment Bank/Broker-Dealer [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Investment Bank/Broker-Dealer [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Investment Bank/Broker-Dealer [0.2%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aretec Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aretec Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.000%, 08/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.000%, 08/15/30(A) | 1060 | 1155 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Osaic Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Osaic Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 08/01/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 08/01/32(A) | 573 | 592 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VFH Parent | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VFH Parent |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 06/15/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 06/15/31(A) | 1010 | 1044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Bank/Broker-Dealer** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Bank/Broker-Dealer** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Investment Bank/Broker-Dealer** | 2791 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Investment Companies [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Investment Companies [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Investment Companies [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Investment Companies [0.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hightower Holding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hightower Holding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 04/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 04/15/29(A) | 1131 | 1116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Leisure [0.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Leisure [0.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Leisure [0.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Leisure [0.5%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Carnival | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Carnival |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 05/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 05/01/29(A) | 250 | 250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Carnival | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Carnival |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 05/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 05/01/29(A) | 575 | 583 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 34

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Carnival | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Carnival |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 08/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 08/15/29(A) | $175 | $184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Carnival | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Carnival |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 03/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 03/15/30(A) | 100 | 102 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 08/01/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 08/01/32(A) | 475 | 483 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Carnival | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Carnival |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 06/15/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 06/15/31(A) | 200 | 205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Carnival | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Carnival |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 02/15/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 02/15/33(A) | 225 | 231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NCL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NCL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 02/15/27(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 02/15/27(A) | 1385 | 1389 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 01/15/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 01/15/31(A) | 150 | 150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NCL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NCL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 02/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 02/15/29(A) | 125 | 133 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NCL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NCL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 02/01/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 02/01/32(A) | 375 | 385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NCL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NCL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 09/15/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 09/15/33(A) | 175 | 176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NCL Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NCL Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 03/15/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 03/15/28(A) | 200 | 205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Royal Caribbean Cruises | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Royal Caribbean Cruises |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 08/31/26(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 08/31/26(A) | 350 | 351 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Royal Caribbean Cruises | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Royal Caribbean Cruises |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 07/15/27(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 07/15/27(A) | 525 | 530 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Royal Caribbean Cruises | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Royal Caribbean Cruises |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 09/30/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 09/30/31(A) | 100 | 102 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Royal Caribbean Cruises | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Royal Caribbean Cruises |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 03/15/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 03/15/32(A) | 275 | 284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Royal Caribbean Cruises | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Royal Caribbean Cruises |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 02/01/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 02/01/33(A) | 175 | 180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SeaWorld Parks & Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SeaWorld Parks & Entertainment |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 08/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 08/15/29(A) | 1025 | 1008 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Six Flags Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Six Flags Entertainment |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 05/15/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 05/15/31(A) | 1000 | 1000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VOC Escrow | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VOC Escrow |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 02/15/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 02/15/28(A) | 1130 | 1127 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Leisure** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Leisure** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Leisure** | 9058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Lodging [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Lodging [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Lodging [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Lodging [0.2%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hilton Domestic Operating | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hilton Domestic Operating |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 05/01/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 05/01/28(A) | 525 | 526 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 09/15/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 09/15/33(A) | 100 | 101 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hilton Domestic Operating | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hilton Domestic Operating |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 05/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 05/01/29(A) | 375 | 361 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hilton Domestic Operating | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hilton Domestic Operating |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 03/15/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 03/15/33(A) | 300 | 306 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RHP Hotel Properties | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RHP Hotel Properties |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 07/15/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 07/15/28(A) | 150 | 154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RHP Hotel Properties | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RHP Hotel Properties |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 04/01/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 04/01/32(A) | $425 | $437 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 06/15/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 06/15/33(A) | 125 | 129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wyndham Hotels & Resorts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wyndham Hotels & Resorts |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 08/15/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 08/15/28(A) | 375 | 366 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; XHR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; XHR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 05/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 05/15/30(A) | 250 | 257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Lodging** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Lodging** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Lodging** | 2637 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Machinery [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Machinery [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Machinery [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Machinery [0.2%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BWX Technologies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BWX Technologies |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 06/30/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 06/30/28(A) | 2340 | 2284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Manitowoc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Manitowoc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 10/01/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 10/01/31(A) | 1080 | 1136 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Machinery** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Machinery** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Machinery** | 3420 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Machinery-Pumps [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Machinery-Pumps [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Machinery-Pumps [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Machinery-Pumps [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CEME | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CEME |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, EUR003M + 4.500%, 09/30/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, EUR003M + 4.500%, 09/30/31(B) | 500 | 588 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Media Entertainment [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Media Entertainment [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Media Entertainment [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Media Entertainment [0.3%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gray Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gray Media |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 11/15/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 11/15/31(A) | 350 | 262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lamar Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lamar Media |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 01/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 01/15/29 | 575 | 570 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nexstar Broadcasting | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nexstar Broadcasting |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 07/15/27(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 07/15/27(A) | 200 | 200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Outfront Media Capital | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Outfront Media Capital |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 03/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 03/15/30(A) | 750 | 721 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sinclair Television Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sinclair Television Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 03/01/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 03/01/30(A) | 300 | 252 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sinclair Television Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sinclair Television Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 12/31/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 12/31/32(A) | 175 | 122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stagwell Global | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stagwell Global |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 08/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 08/15/29(A) | 850 | 825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Univision Communications | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Univision Communications |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 08/15/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 08/15/28(A) | 250 | 259 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Univision Communications | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Univision Communications |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 05/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 05/01/29(A) | 225 | 212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Univision Communications | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Univision Communications |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 06/30/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 06/30/30(A) | 825 | 829 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Univision Communications | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Univision Communications |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.375%, 08/01/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.375%, 08/01/32(A) | 250 | 267 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Warnermedia Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Warnermedia Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 03/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 03/15/42 | 900 | 718 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Media Entertainment** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Media Entertainment** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Media Entertainment** | 5237 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 35

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Medical Labs and Testing Srv [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Medical Labs and Testing Srv [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Medical Labs and Testing Srv [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Medical Labs and Testing Srv [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kepler | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kepler |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.073%, EUR003M + 4.125%, 12/18/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.073%, EUR003M + 4.125%, 12/18/29(B) | 200 | $238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Medical Products & Services [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Medical Products & Services [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Medical Products & Services [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Medical Products & Services [0.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dolcetto Holdco | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dolcetto Holdco |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.639%, EUR003M + 3.625%, 07/14/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.639%, EUR003M + 3.625%, 07/14/32(B) | 100 | 119 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LifePoint Health | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LifePoint Health |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.875%, 08/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.875%, 08/15/30(A) | 450 | 487 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LifePoint Health | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LifePoint Health |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.000%, 10/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.000%, 10/15/30(A) | 595 | 656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RAY Financing | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RAY Financing |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.776%, EUR003M + 3.750%, 07/15/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.776%, EUR003M + 3.750%, 07/15/31(B) | 400 | 469 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Medical Products & Services** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Medical Products & Services** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Medical Products & Services** | 1731 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Metal-Copper [0.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Metal-Copper [0.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Metal-Copper [0.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Metal-Copper [0.5%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Quantum Minerals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Quantum Minerals |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.375%, 03/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.375%, 03/01/29(A) | 1901 | 2015 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Quantum Minerals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Quantum Minerals |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 03/01/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 03/01/33(A) | 5990 | 6319 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Metal-Copper** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Metal-Copper** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Metal-Copper** | 8334 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Metal-Iron [0.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Metal-Iron [0.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Metal-Iron [0.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Metal-Iron [0.4%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Champion Iron Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Champion Iron Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 07/15/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 07/15/32(A) | 610 | 638 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mineral Resources | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mineral Resources |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.125%, 05/01/27(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.125%, 05/01/27(A) | 815 | 815 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mineral Resources | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mineral Resources |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 10/01/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 10/01/28(A) | 620 | 650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mineral Resources, MTN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mineral Resources, MTN |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 11/01/27(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 11/01/27(A) | 490 | 500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mineral Resources, MTN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mineral Resources, MTN |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 05/01/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 05/01/30(A) | 205 | 213 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Samarco Mineracao | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Samarco Mineracao |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.500% PIK, 06/30/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.500% PIK, 06/30/31 | 4248 | 4270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TMS International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TMS International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 04/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 04/15/29(A) | 480 | 465 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Metal-Iron** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Metal-Iron** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Metal-Iron** | 7551 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Metals & Mining [0.9%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Metals & Mining [0.9%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Metals & Mining [0.9%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Metals & Mining [0.9%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alcoa Nederland Holding BV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alcoa Nederland Holding BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 03/15/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 03/15/31(A) | 765 | 804 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arsenal AIC Parent | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arsenal AIC Parent |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 10/01/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 10/01/30(A) | 660 | 699 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arsenal AIC Parent | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arsenal AIC Parent |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.500%, 10/01/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.500%, 10/01/31(A) | $1015 | $1127 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Century Aluminum | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Century Aluminum |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 08/01/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 08/01/32(A) | 195 | 202 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cleveland-Cliffs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cleveland-Cliffs |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 03/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 03/01/29(A) | 650 | 626 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cleveland-Cliffs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cleveland-Cliffs |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 11/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 11/01/29(A) | 125 | 128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cleveland-Cliffs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cleveland-Cliffs |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 03/01/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 03/01/31(A) | 200 | 187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cleveland-Cliffs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cleveland-Cliffs |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 09/15/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 09/15/31(A) | 175 | 180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cleveland-Cliffs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cleveland-Cliffs |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 03/15/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 03/15/32(A) | 1770 | 1788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cleveland-Cliffs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cleveland-Cliffs |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 05/01/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 05/01/33(A) | 850 | 868 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cleveland-Cliffs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cleveland-Cliffs |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.625%, 01/15/34(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.625%, 01/15/34(A) | 200 | 206 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Coeur Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Coeur Mining |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 02/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 02/15/29(A) | 650 | 638 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ivanhoe Mines | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ivanhoe Mines |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 01/23/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 01/23/30 | 2860 | 2949 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 01/23/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 01/23/30(A) | 2180 | 2248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kaiser Aluminum | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kaiser Aluminum |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 06/01/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 06/01/31(A) | 675 | 636 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vedanta Resources Finance II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vedanta Resources Finance II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.475%, 07/24/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.475%, 07/24/30(A) | 1860 | 1882 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Metals & Mining** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Metals & Mining** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Metals & Mining** | 15168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Midstream [0.8%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Midstream [0.8%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Midstream [0.8%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Midstream [0.8%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Antero Midstream Partners | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Antero Midstream Partners |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 06/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 06/15/29(A) | 250 | 249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Antero Midstream Partners | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Antero Midstream Partners |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 10/15/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 10/15/33(A) | 1575 | 1568 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aris Water Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aris Water Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 04/01/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 04/01/30(A) | 250 | 264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Blue Racer Midstream | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Blue Racer Midstream |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 07/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 07/15/29(A) | 475 | 492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Blue Racer Midstream | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Blue Racer Midstream |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 07/15/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 07/15/32(A) | 200 | 211 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CNX Midstream Partners | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CNX Midstream Partners |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 04/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 04/15/30(A) | 875 | 839 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DT Midstream | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DT Midstream |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 06/15/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 06/15/31(A) | 750 | 725 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hess Midstream Operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hess Midstream Operations |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 06/15/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 06/15/28(A) | 825 | 824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Northriver Midstream Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Northriver Midstream Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 07/15/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 07/15/32(A) | 850 | 873 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 36

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rockies Express Pipeline | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rockies Express Pipeline |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 03/15/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 03/15/33(A) | $600 | $626 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Suburban Propane Partners | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Suburban Propane Partners |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 03/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 03/01/27 | 750 | 748 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Suburban Propane Partners | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Suburban Propane Partners |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/01/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/01/31(A) | 375 | 357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tallgrass Energy Partners | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tallgrass Energy Partners |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 03/15/34(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 03/15/34(A) | 1100 | 1090 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Venture Global Plaquemines LNG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Venture Global Plaquemines LNG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 05/01/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 05/01/33(A) | 1075 | 1188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Venture Global Plaquemines LNG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Venture Global Plaquemines LNG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 01/15/34(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 01/15/34(A) | 125 | 131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Venture Global Plaquemines LNG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Venture Global Plaquemines LNG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 05/01/35(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 05/01/35(A) | 1750 | 1975 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Venture Global Plaquemines LNG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Venture Global Plaquemines LNG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 01/15/36(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 01/15/36(A) | 525 | 558 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WBI Operating | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WBI Operating |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 10/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 10/15/30(A) | 250 | 250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WBI Operating | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WBI Operating |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 10/15/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 10/15/33(A) | 150 | 150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Midstream** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Midstream** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Midstream** | 13118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Miscellaneous Manufacturing [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Miscellaneous Manufacturing [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Miscellaneous Manufacturing [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Miscellaneous Manufacturing [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Anolis Capital Markets PCC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Anolis Capital Markets PCC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 01/01/28(D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 01/01/28(D) | 460 | 470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Motion Pictures and Services [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Motion Pictures and Services [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Motion Pictures and Services [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Motion Pictures and Services [0.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Warnermedia Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Warnermedia Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.279%, 03/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.279%, 03/15/32 | 2084 | 1909 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Non-Ferrous Metals [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Non-Ferrous Metals [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Non-Ferrous Metals [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Non-Ferrous Metals [0.2%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Navoiyuran State Enterprise | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Navoiyuran State Enterprise |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.700%, 07/02/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.700%, 07/02/30(A) | 3215 | 3218 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Oil Field Services [0.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Oil Field Services [0.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Oil Field Services [0.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Oil Field Services [0.5%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Archrock Partners | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Archrock Partners |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 04/01/27(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 04/01/27(A) | 1300 | 1300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Archrock Partners | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Archrock Partners |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 09/01/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 09/01/32(A) | 425 | 436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kodiak Gas Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kodiak Gas Services |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 02/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 02/15/29(A) | 925 | 959 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kodiak Gas Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kodiak Gas Services |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 10/01/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 10/01/33(A) | 150 | 153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kodiak Gas Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kodiak Gas Services |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 10/01/35(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 10/01/35(A) | 125 | 128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nabors Industries | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nabors Industries |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 05/15/27(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 05/15/27(A) | $150 | $152 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nabors Industries | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nabors Industries |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 01/15/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 01/15/28(A) | 250 | 250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nabors Industries | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nabors Industries |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.125%, 01/31/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.125%, 01/31/30(A) | 250 | 261 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nabors Industries | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nabors Industries |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.875%, 08/15/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.875%, 08/15/31(A) | 225 | 209 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ORO SG Pte | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ORO SG Pte |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12.000%, 12/20/25(D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12.000%, 12/20/25(D) | 10264 | 10 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Precision Drilling | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Precision Drilling |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 01/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 01/15/29(A) | 325 | 327 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tidewater | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tidewater |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.125%, 07/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.125%, 07/15/30(A) | 1310 | 1407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transocean Titan Financing | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transocean Titan Financing |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 02/01/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 02/01/28(A) | 993 | 1018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USA Compression Partners | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USA Compression Partners |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 09/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 09/01/27 | 175 | 175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USA Compression Partners | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USA Compression Partners |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 03/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 03/15/29(A) | 1225 | 1263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USA Compression Partners | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USA Compression Partners |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 10/01/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 10/01/33(A) | 125 | 126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Oil Field Services** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Oil Field Services** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Oil Field Services** | 8174 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Oil-Field Services [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Oil-Field Services [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Oil-Field Services [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Oil-Field Services [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SESI | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SESI |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 09/30/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 09/30/30(A) | 595 | 595 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Packaging [0.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Packaging [0.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Packaging [0.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Packaging [0.4%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ARD Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ARD Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500% PIK, 06/30/27(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500% PIK, 06/30/27(A) | 767 | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ardagh Metal Packaging Finance USA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ardagh Metal Packaging Finance USA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 09/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 09/01/29(A) | 1175 | 1087 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ardagh Packaging Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ardagh Packaging Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 08/15/27(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 08/15/27(A) | 1300 | 494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ball | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ball |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 06/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 06/15/29 | 675 | 691 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clydesdale Acquisition Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clydesdale Acquisition Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 01/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 01/15/30(A) | 275 | 282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clydesdale Acquisition Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clydesdale Acquisition Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 04/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 04/15/30(A) | 600 | 616 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clydesdale Acquisition Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clydesdale Acquisition Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 04/15/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 04/15/32(A) | 250 | 257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Crown Americas | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Crown Americas |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 06/01/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 06/01/33(A) | 575 | 581 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 37

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mauser Packaging Solutions Holding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mauser Packaging Solutions Holding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 04/15/27(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 04/15/27(A) | $375 | $379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mauser Packaging Solutions Holding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mauser Packaging Solutions Holding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 04/15/27(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 04/15/27(A) | 225 | 225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; OI European Group BV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; OI European Group BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 02/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 02/15/30(A) | 350 | 334 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sealed Air | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sealed Air |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 02/15/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 02/15/31(A) | 550 | 577 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sealed Air | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sealed Air |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 07/15/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 07/15/32(A) | 450 | 466 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trivium Packaging Finance BV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trivium Packaging Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 07/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 07/15/30(A) | 225 | 240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trivium Packaging Finance BV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trivium Packaging Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12.250%, 01/15/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12.250%, 01/15/31(A) | 350 | 379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Packaging** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Packaging** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Packaging** | 6627 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Paper [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Paper [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Paper [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Paper [0.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clearwater Paper | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clearwater Paper |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 08/15/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 08/15/28(A) | 750 | 706 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Graphic Packaging International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Graphic Packaging International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 07/15/27(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 07/15/27(A) | 300 | 298 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Graphic Packaging International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Graphic Packaging International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 03/15/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 03/15/28(A) | 300 | 289 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Paper** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Paper** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Paper** | 1293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Paper & Related Products [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Paper & Related Products [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Paper & Related Products [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Paper & Related Products [0.2%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LD Celulose International GmbH | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LD Celulose International GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.950%, 01/26/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.950%, 01/26/32(A) | 3720 | 3932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Petroleum & Fuel Products [6.9%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Petroleum & Fuel Products [6.9%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Petroleum & Fuel Products [6.9%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Petroleum & Fuel Products [6.9%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Borr IHC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Borr IHC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.000%, 11/15/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.000%, 11/15/28(A) | 534 | 529 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Borr IHC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Borr IHC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.375%, 11/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.375%, 11/15/30(A) | 324 | 324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California Resources | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California Resources |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 06/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 06/15/29(A) | 1080 | 1126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cosan Overseas | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cosan Overseas |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 02/05/74 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 02/05/74 | 4103 | 4108 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ecopetrol | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ecopetrol |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 11/02/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 11/02/31 | 7550 | 6779 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ecopetrol | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ecopetrol |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.875%, 01/13/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.875%, 01/13/33 | 5142 | 5585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ecopetrol | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ecopetrol |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 01/19/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 01/19/36 | $1080 | $1115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ecopetrol | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ecopetrol |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 05/28/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 05/28/45 | 4500 | 3441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energean Israel Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energean Israel Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 03/30/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 03/30/28(A) | 4706 | 4624 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Geopark | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Geopark |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 01/17/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 01/17/27 | 7780 | 7366 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gulfport Energy Operating | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gulfport Energy Operating |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 09/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 09/01/29(A) | 475 | 488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hilcorp Energy I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hilcorp Energy I |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 11/01/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 11/01/33(A) | 2299 | 2415 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kosmos Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kosmos Energy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 03/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 03/01/28 | 405 | 354 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kosmos Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kosmos Energy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 10/01/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 10/01/31(A) | 6210 | 4817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Leviathan Bond | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Leviathan Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 06/30/27(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 06/30/27(A) | 4096 | 4105 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Magnolia Oil & Gas Operating | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Magnolia Oil & Gas Operating |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 12/01/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 12/01/32(A) | 1775 | 1821 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Matador Resources | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Matador Resources |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 04/15/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 04/15/28(A) | 630 | 643 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Medco Cypress Tree Pte | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Medco Cypress Tree Pte |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 05/19/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 05/19/30 | 1000 | 1055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Medco Maple Tree Pte | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Medco Maple Tree Pte |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.960%, 04/27/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.960%, 04/27/29(A) | 2800 | 2919 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Noble Finance II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Noble Finance II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 04/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 04/15/30(A) | 1340 | 1387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oro Negro Drilling Pte | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oro Negro Drilling Pte |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, \* (D) (E) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, \* (D) (E) | 3683 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oro Negro Drilling Pte | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oro Negro Drilling Pte |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 01/24/24(A) (C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 01/24/24(A) (C) | 23137 | 23 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Petrobras Global Finance BV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Petrobras Global Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 01/10/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 01/10/36 | 4100 | 4046 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Petroleos de Venezuela | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Petroleos de Venezuela |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 10/27/20(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 10/27/20(C) | 10470 | 10235 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Petroleos de Venezuela | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Petroleos de Venezuela |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 05/17/35(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 05/17/35(C) | 8689 | 1555 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Petroleos del Peru | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Petroleos del Peru |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 06/19/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 06/19/47 | 2025 | 1491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Petroleos Mexicanos | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Petroleos Mexicanos |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 01/28/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 01/28/31 | 8590 | 8320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Petroleos Mexicanos | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Petroleos Mexicanos |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.000%, 02/07/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.000%, 02/07/33 | 2335 | 2710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Petron | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Petron |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.350%, H15T3Y + 6.325%, 03/22/74(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.350%, H15T3Y + 6.325%, 03/22/74(B) | 2030 | 2094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prairie Acquiror | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prairie Acquiror |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 08/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 08/01/29(A) | 1075 | 1116 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 38

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Raizen Fuels Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Raizen Fuels Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.450%, 03/05/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.450%, 03/05/34 | $2230 | $2169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Raizen Fuels Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Raizen Fuels Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.950%, 03/05/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.950%, 03/05/54 | 2000 | 1849 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rockies Express Pipeline | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rockies Express Pipeline |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 07/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 07/15/29(A) | 622 | 617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rockies Express Pipeline | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rockies Express Pipeline |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 07/15/38(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 07/15/38(A) | 1431 | 1526 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Seadrill Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Seadrill Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 08/01/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 08/01/30(A) | 1095 | 1137 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tallgrass Energy Partners | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tallgrass Energy Partners |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 02/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 02/15/29(A) | 670 | 690 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transocean Aquila | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transocean Aquila |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 09/30/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 09/30/28(A) | 905 | 931 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transocean International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transocean International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 02/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 02/15/30(A) | 473 | 497 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transocean International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transocean International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 10/15/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 10/15/32(A) | 245 | 245 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trident Energy Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trident Energy Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12.500%, 11/30/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12.500%, 11/30/29 | 1950 | 2033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Valaris | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Valaris |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 04/30/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 04/30/30(A) | 1330 | 1378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Venture Global LNG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Venture Global LNG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.500%, 02/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.500%, 02/01/29(A) | 2143 | 2361 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Venture Global LNG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Venture Global LNG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.000%, H15T5Y + 5.440%, 03/30/74(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.000%, H15T5Y + 5.440%, 03/30/74(A) (B) | 805 | 798 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vista Energy Argentina SAU | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vista Energy Argentina SAU |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 06/10/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 06/10/33(A) | 1280 | 1303 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vista Energy Argentina SAU | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vista Energy Argentina SAU |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.625%, 12/10/35(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.625%, 12/10/35(A) | 3700 | 3592 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; YPF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; YPF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.950%, 07/21/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.950%, 07/21/27 | 4610 | 4583 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; YPF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; YPF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.500%, 01/17/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.500%, 01/17/31 | 4150 | 4250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Petroleum & Fuel Products** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Petroleum & Fuel Products** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Petroleum & Fuel Products** | 116550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Pharmaceuticals [0.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Pharmaceuticals [0.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Pharmaceuticals [0.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Pharmaceuticals [0.6%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1261229 BC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1261229 BC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.000%, 04/15/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.000%, 04/15/32(A) | 1175 | 1205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amneal Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amneal Pharmaceuticals |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 08/01/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 08/01/32(A) | 350 | 362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bausch Health | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bausch Health |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 06/01/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 06/01/28(A) | 500 | 447 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bausch Health | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bausch Health |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 02/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 02/15/29(A) | 225 | 170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bausch Health | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bausch Health |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 05/30/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 05/30/29(A) | $425 | $336 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Emergent BioSolutions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Emergent BioSolutions |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 08/15/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 08/15/28(A) | 1145 | 951 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grifols | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grifols |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 10/15/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 10/15/28(A) | 1425 | 1384 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Opal Bidco SAS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Opal Bidco SAS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 03/31/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 03/31/32(A) | 1460 | 1496 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Organon | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Organon |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 04/30/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 04/30/28(A) | 1255 | 1212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Organon | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Organon |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 04/30/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 04/30/31(A) | 375 | 328 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Organon | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Organon |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 05/15/34(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 05/15/34(A) | 1455 | 1393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Organon | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Organon |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 05/15/34(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 05/15/34(A) | 900 | 834 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Pharmaceuticals** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Pharmaceuticals** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Pharmaceuticals** | 10118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Precious Metals [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Precious Metals [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Precious Metals [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Precious Metals [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hecla Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hecla Mining |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 02/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 02/15/28 | 184 | 186 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Printing & Publishing [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Printing & Publishing [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Printing & Publishing [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Printing & Publishing [0.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cimpress | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cimpress |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 09/15/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 09/15/32(A) | 1165 | 1164 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deluxe | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deluxe |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.125%, 09/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.125%, 09/15/29(A) | 520 | 543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Printing & Publishing** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Printing & Publishing** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Printing & Publishing** | 1707 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Real Estate [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Real Estate [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Real Estate [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Real Estate [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Emeria SASU | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Emeria SASU |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 03/31/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 03/31/28 | 350 | 377 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Real Estate Investment Trusts [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Real Estate Investment Trusts [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Real Estate Investment Trusts [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Real Estate Investment Trusts [0.3%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Apollo Commercial Real Estate Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Apollo Commercial Real Estate Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 06/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 06/15/29(A) | 660 | 634 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arbor Realty SR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arbor Realty SR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 07/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 07/15/30(A) | 450 | 473 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Blackstone Mortgage Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Blackstone Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 12/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 12/01/29(A) | 590 | 623 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brandywine Operating Partnership | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brandywine Operating Partnership |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 01/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 01/15/31 | 715 | 714 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brookfield Property REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brookfield Property REIT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 05/15/26(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 05/15/26(A) | 1508 | 1504 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Global Net Lease | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Global Net Lease |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 12/15/27(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 12/15/27(A) | 535 | 519 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 39

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Starwood Property Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Starwood Property Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 10/15/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 10/15/28(A) | $670 | $670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate Investment Trusts** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate Investment Trusts** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate Investment Trusts** | 5137 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Real Estate Oper/Develop [0.8%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Real Estate Oper/Develop [0.8%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Real Estate Oper/Develop [0.8%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Real Estate Oper/Develop [0.8%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Country Garden Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Country Garden Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 01/17/25(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 01/17/25(C) | 2600 | 273 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GLP Pte | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GLP Pte |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 05/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 05/20/28 | 2100 | 2184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Howard Hughes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Howard Hughes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 08/01/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 08/01/28(A) | 1780 | 1773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MAF Global Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MAF Global Securities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375%, H15T5Y + 3.539%, 09/20/74(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375%, H15T5Y + 3.539%, 09/20/74(B) | 3875 | 3879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pakuwon Jati | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pakuwon Jati |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 04/29/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 04/29/28 | 5600 | 5499 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate Oper/Develop** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate Oper/Develop** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate Oper/Develop** | 13608 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Restaurants [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Restaurants [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Restaurants [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Restaurants [0.2%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1011778 BC ULC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1011778 BC ULC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 06/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 06/15/29(A) | 225 | 230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1011778 BC ULC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1011778 BC ULC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 09/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 09/15/29(A) | 175 | 177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1011778 BC ULC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1011778 BC ULC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/15/30(A) | 2025 | 1908 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KFC Holding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KFC Holding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 06/01/27(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 06/01/27(A) | 975 | 971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Restaurants** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Restaurants** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Restaurants** | 3286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Retail [0.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Retail [0.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Retail [0.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Retail [0.6%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asbury Automotive Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asbury Automotive Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 03/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 03/01/30 | 230 | 224 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bath & Body Works | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bath & Body Works |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 07/01/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 07/01/36 | 1245 | 1281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BlueLinx Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BlueLinx Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 11/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 11/15/29(A) | 1340 | 1319 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Carvana | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Carvana |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.000% PIK, 06/01/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.000% PIK, 06/01/30(A) | 1063 | 1112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fertitta Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fertitta Entertainment |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 01/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 01/15/30(A) | 560 | 525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FirstCash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FirstCash |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 01/01/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 01/01/30(A) | 1214 | 1212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FirstCash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FirstCash |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 03/01/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 03/01/32(A) | 2490 | 2573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Future Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Future Retail |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 01/22/25(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.600%, 01/22/25(C) | 16200 | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lithia Motors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lithia Motors |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 01/15/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 01/15/31(A) | $1205 | $1144 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Macy's Retail Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Macy's Retail Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 01/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 01/15/42 | 485 | 383 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quicktop Holdco | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quicktop Holdco |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.529%, EUR003M + 4.500%, 03/21/30(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.529%, EUR003M + 4.500%, 03/21/30(A) (B) | 100 | 120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Retail** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Retail** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Retail** | 9896 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Retailers [0.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Retailers [0.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Retailers [0.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Retailers [0.5%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Academy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Academy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 11/15/27(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 11/15/27(A) | 1690 | 1689 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asbury Automotive Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asbury Automotive Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 11/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 11/15/29(A) | 600 | 582 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asbury Automotive Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asbury Automotive Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 02/15/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 02/15/32(A) | 1900 | 1824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Belron UK Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Belron UK Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 10/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 10/15/29(A) | 200 | 203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gap | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gap |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 10/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 10/01/29(A) | 225 | 211 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gap | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gap |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 10/01/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 10/01/31(A) | 225 | 204 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Group 1 Automotive | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Group 1 Automotive |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 01/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 01/15/30(A) | 980 | 1002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hanesbrands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hanesbrands |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 02/15/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 02/15/31(A) | 650 | 688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LCM Investments Holdings II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LCM Investments Holdings II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 05/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 05/01/29(A) | 100 | 98 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LCM Investments Holdings II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LCM Investments Holdings II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 08/01/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 08/01/31(A) | 800 | 846 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lithia Motors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lithia Motors |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 10/01/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 10/01/30(A) | 475 | 475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sally Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sally Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 03/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 03/01/32 | 375 | 390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; William Carter | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; William Carter |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 03/15/27(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 03/15/27(A) | 650 | 650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Retailers** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Retailers** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Retailers** | 8862 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Semi-Conductors [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Semi-Conductors [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Semi-Conductors [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Semi-Conductors [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tunghsu Venus Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tunghsu Venus Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 06/12/20(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 06/12/20(C) | 4275 | 43 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Services [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Services [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Services [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Services [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Emeria SASU | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Emeria SASU |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 03/31/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 03/31/28 | 500 | 501 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 40

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Steel & Steel Works [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Steel & Steel Works [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Steel & Steel Works [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Steel & Steel Works [0.3%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CSN Islands XI | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CSN Islands XI |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 01/28/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 01/28/28 | $800 | $777 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CSN Resources | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CSN Resources |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 04/08/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 04/08/32 | 865 | 735 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Usiminas International Sarl | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Usiminas International Sarl |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 01/27/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 01/27/32(A) | 2610 | 2682 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Steel & Steel Works** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Steel & Steel Works** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Steel & Steel Works** | 4194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Supermarkets [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Supermarkets [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Supermarkets [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Supermarkets [0.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Albertsons | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Albertsons |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 02/15/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 02/15/28(A) | 500 | 500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Albertsons | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Albertsons |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 02/15/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 02/15/28(A) | 200 | 203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Albertsons | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Albertsons |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 03/15/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 03/15/33(A) | 250 | 256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Supermarkets** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Supermarkets** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Supermarkets** | 959 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Technology [2.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Technology [2.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Technology [2.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Technology [2.6%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amentum Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amentum Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 08/01/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 08/01/32(A) | 3190 | 3312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AthenaHealth Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AthenaHealth Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 02/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 02/15/30(A) | 1450 | 1437 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CACI International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CACI International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 06/15/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 06/15/33(A) | 1075 | 1109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capstone Borrower | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capstone Borrower |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 06/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 06/15/30(A) | 1025 | 1072 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clarivate Science Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clarivate Science Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 07/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 07/01/29(A) | 1425 | 1347 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cloud Software Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cloud Software Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 03/31/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 03/31/29(A) | 3255 | 3284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cloud Software Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cloud Software Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 09/30/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 09/30/29(A) | 2220 | 2296 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cloud Software Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cloud Software Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 06/30/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 06/30/32(A) | 575 | 610 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cloud Software Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cloud Software Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 08/15/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 08/15/33(A) | 175 | 178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Coherent | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Coherent |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/15/29(A) | 850 | 838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consensus Cloud Solutions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consensus Cloud Solutions |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 10/15/26(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 10/15/26(A) | 650 | 649 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consensus Cloud Solutions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consensus Cloud Solutions |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 10/15/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 10/15/28(A) | 625 | 630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CoreWeave | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CoreWeave |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 06/01/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 06/01/30(A) | 1725 | 1782 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CoreWeave | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CoreWeave |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 02/01/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 02/01/31(A) | 250 | 256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Elastic | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Elastic |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 07/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 07/15/29(A) | 775 | 744 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ellucian Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ellucian Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 12/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 12/01/29(A) | $175 | $178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Entegris | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Entegris |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 04/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 04/15/29(A) | 350 | 347 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Entegris | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Entegris |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 06/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.950%, 06/15/30(A) | 1175 | 1192 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fair Isaac | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fair Isaac |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/15/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/15/28(A) | 250 | 243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fair Isaac | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fair Isaac |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 05/15/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 05/15/33(A) | 1398 | 1416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fortress Intermediate 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fortress Intermediate 3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 06/01/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 06/01/31(A) | 675 | 707 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gen Digital | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gen Digital |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 04/01/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 04/01/33(A) | 250 | 255 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HealthEquity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HealthEquity |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 10/01/29(A) | 1225 | 1188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insight Enterprises | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insight Enterprises |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 05/15/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 05/15/32(A) | 650 | 667 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Iron Mountain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Iron Mountain |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 02/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 02/15/29(A) | 1225 | 1262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kioxia Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kioxia Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 07/24/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 07/24/33(A) | 575 | 591 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; McAfee | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; McAfee |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 02/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 02/15/30(A) | 2250 | 2087 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Millennium Escrow | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Millennium Escrow |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 08/01/26(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 08/01/26(A) | 550 | 527 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NCR Atleos | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NCR Atleos |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.500%, 04/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.500%, 04/01/29(A) | 225 | 244 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NCR Voyix | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NCR Voyix |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 04/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 04/15/29(A) | 400 | 393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Open Text | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Open Text |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 02/15/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 02/15/28(A) | 1125 | 1094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rocket Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rocket Software |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 02/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 02/15/29(A) | 1650 | 1607 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Science Applications International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Science Applications International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 11/01/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 11/01/33(A) | 325 | 325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Seagate Data Storage Technology Pte | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Seagate Data Storage Technology Pte |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 07/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 07/15/30(A) | 125 | 127 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Seagate Data Storage Technology Pte | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Seagate Data Storage Technology Pte |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.625%, 12/01/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.625%, 12/01/32(A) | 750 | 850 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sensata Technologies BV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sensata Technologies BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 04/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 04/15/29(A) | 600 | 576 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sensata Technologies BV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sensata Technologies BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 09/01/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 09/01/30(A) | 275 | 277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shift4 Payments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shift4 Payments |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 08/15/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 08/15/32(A) | 2471 | 2555 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SS&C Technologies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SS&C Technologies |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 09/30/27(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 09/30/27(A) | 1375 | 1373 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 41

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Synaptics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Synaptics |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/15/29(A) | $475 | $455 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TTM Technologies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TTM Technologies |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 03/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 03/01/29(A) | 100 | 96 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UKG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UKG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 02/01/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 02/01/31(A) | 1300 | 1341 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Viavi Solutions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Viavi Solutions |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 10/01/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 10/01/29(A) | 325 | 306 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zebra Technologies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zebra Technologies |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 06/01/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 06/01/32(A) | 200 | 205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ZipRecruiter | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ZipRecruiter |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 01/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 01/15/30(A) | 1995 | 1606 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Technology** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Technology** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Technology** | 43634 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Telecommunications [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Telecommunications [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Telecommunications [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Telecommunications [0.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Altice France | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Altice France |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.125%, 02/01/27(A) (C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.125%, 02/01/27(A) (C) | 860 | 818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Telephones & Telecommunications [2.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Telephones & Telecommunications [2.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Telephones & Telecommunications [2.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Telephones & Telecommunications [2.4%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Africell Holding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Africell Holding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.500%, 10/23/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.500%, 10/23/29(A) | 7540 | 7469 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Axian Telecom Holding & Management | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Axian Telecom Holding & Management |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 07/11/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 07/11/30(A) | 5880 | 6018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; C&W Senior Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; C&W Senior Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 01/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 01/15/33 | 2950 | 3085 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Connect Finco SARL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Connect Finco SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 09/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 09/15/29(A) | 2190 | 2300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Digicel | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Digicel |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 03/01/23(A) (C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 03/01/23(A) (C) | 4800 | 107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Eutelsat | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Eutelsat |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 10/13/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 10/13/28 | 300 | 330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fibercop | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fibercop |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.980%, EUR003M + 3.000%, 06/30/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.980%, EUR003M + 3.000%, 06/30/31(B) | 300 | 354 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Level 3 Financing | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Level 3 Financing |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 03/31/34(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 03/31/34(A) | 585 | 596 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Liberty Costa Rica Senior Secured Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Liberty Costa Rica Senior Secured Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.875%, 01/15/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.875%, 01/15/31(A) | 2400 | 2561 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Liquid Telecommunications Financing | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Liquid Telecommunications Financing |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 09/04/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 09/04/26 | 2510 | 2178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maya SAS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maya SAS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 04/15/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.500%, 04/15/31(A) | 1225 | 1314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sable International Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sable International Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 10/15/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 10/15/32(A) | 700 | 709 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Telecom Argentina | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Telecom Argentina |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 07/18/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 07/18/26 | 2930 | 2922 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Telecom Argentina | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Telecom Argentina |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 05/28/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.250%, 05/28/33(A) | $1385 | $1361 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Turkcell Iletisim Hizmetleri | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Turkcell Iletisim Hizmetleri |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.450%, 01/24/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.450%, 01/24/30(A) | 4430 | 4614 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Veon Midco BV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Veon Midco BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 07/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.000%, 07/15/29(A) | 1620 | 1683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Veon Midco BV, MTN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Veon Midco BV, MTN |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 11/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 11/25/27 | 1750 | 1640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vmed O2 UK Financing I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vmed O2 UK Financing I |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 01/31/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 01/31/31 | 400 | 451 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vmed O2 UK Financing I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vmed O2 UK Financing I |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 04/15/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 04/15/32(A) | 800 | 840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Telephones & Telecommunications** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Telephones & Telecommunications** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Telephones & Telecommunications** | 40532 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Textile-Products [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Textile-Products [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Textile-Products [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Textile-Products [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Golden Legacy Pte. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Golden Legacy Pte. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 03/27/24(C) (D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 03/27/24(C) (D) | 15640 | 274 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prime Bloom Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prime Bloom Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.950%, 07/05/22(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.950%, 07/05/22(C) | 16500 | 16 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Textile-Products** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Textile-Products** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Textile-Products** | 290 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Transportation Services [1.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Transportation Services [1.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Transportation Services [1.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Transportation Services [1.2%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Adani International Container Terminal Pvt | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Adani International Container Terminal Pvt |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 02/16/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 02/16/31 | 4480 | 4118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mersin Uluslararasi Liman Isletmeciligi | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mersin Uluslararasi Liman Isletmeciligi |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 11/15/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 11/15/28(A) | 4160 | 4324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sabre GLBL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sabre GLBL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.250%, 12/15/27(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.250%, 12/15/27(A) | 885 | 923 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sabre GLBL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sabre GLBL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.750%, 11/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.750%, 11/15/29(A) | 500 | 483 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sabre GLBL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sabre GLBL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.125%, 07/15/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.125%, 07/15/30(A) | 855 | 828 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stena International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stena International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 01/15/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 01/15/31(A) | 650 | 663 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transnet | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transnet |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 02/06/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 02/06/28 | 3950 | 4167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Viking Cruises | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Viking Cruises |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.125%, 07/15/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.125%, 07/15/31(A) | 3308 | 3550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Watco | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Watco |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 08/01/32(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 08/01/32(A) | 500 | 517 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Transportation Services** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Transportation Services** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Transportation Services** | 19573 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 42

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Transport-Equip and Leasng [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Transport-Equip and Leasng [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Transport-Equip and Leasng [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Transport-Equip and Leasng [0.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FTAI Aviation Investors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FTAI Aviation Investors |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 12/01/30(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.875%, 12/01/30(A) | $1100 | $1169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Utility - Electric [0.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Utility - Electric [0.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Utility - Electric [0.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Utility - Electric [0.6%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calpine | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calpine |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 02/15/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 02/15/28(A) | 925 | 922 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calpine | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calpine |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 03/15/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 03/15/28(A) | 325 | 325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NRG Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NRG Energy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 02/01/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 02/01/33(A) | 550 | 559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 01/15/36(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 01/15/36(A) | 800 | 800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NRG Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NRG Energy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 01/15/34(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 01/15/34(A) | 125 | 125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NRG Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NRG Energy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 11/01/34(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 11/01/34(A) | 1785 | 1830 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TerraForm Power Operating | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TerraForm Power Operating |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 01/31/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 01/31/28(A) | 1125 | 1117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TransAlta | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TransAlta |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 11/15/29 | 100 | 104 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vistra Operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vistra Operations |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 09/01/26(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 09/01/26(A) | 1000 | 999 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vistra Operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vistra Operations |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 02/15/27(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 02/15/27(A) | 325 | 325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vistra Operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vistra Operations |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 10/15/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 10/15/31(A) | 1820 | 1926 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; XPLR Infrastructure Operating Partners | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; XPLR Infrastructure Operating Partners |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 09/15/27(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 09/15/27(A) | 450 | 441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; XPLR Infrastructure Operating Partners | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; XPLR Infrastructure Operating Partners |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 01/15/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 01/15/29(A) | 500 | 513 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; XPLR Infrastructure Operating Partners | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; XPLR Infrastructure Operating Partners |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 01/15/31(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.375%, 01/15/31(A) | 75 | 79 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; XPLR Infrastructure Operating Partners | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; XPLR Infrastructure Operating Partners |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 03/15/33(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 03/15/33(A) | 475 | 498 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Utility - Electric** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Utility - Electric** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Utility - Electric** | 10563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Water [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Water [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Water [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Water [0.2%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aegea Finance Sarl | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aegea Finance Sarl |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 05/20/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 05/20/29(A) | 2450 | 2498 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Corporate Bonds** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Corporate Bonds** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Corporate Bonds** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cost ($926437) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cost ($926437) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cost ($926437) | 844234 |
|  **Collateralized Loan Obligations [19.1%]** | **Collateralized Loan Obligations [19.1%]** | **Collateralized Loan Obligations [19.1%]** | **Collateralized Loan Obligations [19.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Non-Agency Mortgage Backed Obligations [19.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Non-Agency Mortgage Backed Obligations [19.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Non-Agency Mortgage Backed Obligations [19.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Non-Agency Mortgage Backed Obligations [19.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Adagio IX EUR CLO DAC, Ser 2021-A, Cl E | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Adagio IX EUR CLO DAC, Ser 2021-A, Cl E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.034%, EUR003M + 6.020%, 09/15/34(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.034%, EUR003M + 6.020%, 09/15/34(A) (B) | 2000 | $2310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Adagio IX EUR CLO DAC, Ser 2021-X, Cl E | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Adagio IX EUR CLO DAC, Ser 2021-X, Cl E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.034%, EUR003M + 6.020%, 09/15/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.034%, EUR003M + 6.020%, 09/15/34(B) | 1000 | 1155 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AGL CLO 12, Ser 2021-12A, Cl E | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AGL CLO 12, Ser 2021-12A, Cl E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.737%, TSFR3M + 6.412%, 07/20/34(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.737%, TSFR3M + 6.412%, 07/20/34(A) (B) | 2400 | 2375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Anchorage Capital CLO 21, Ser 2025-21A, Cl ER | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Anchorage Capital CLO 21, Ser 2025-21A, Cl ER |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.576%, TSFR3M + 6.250%, 10/20/34(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.576%, TSFR3M + 6.250%, 10/20/34(A) (B) | 3000 | 2988 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Anchorage Capital CLO 8, Ser 2021-8A, Cl ER2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Anchorage Capital CLO 8, Ser 2021-8A, Cl ER2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.925%, TSFR3M + 7.612%, 10/27/34(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.925%, TSFR3M + 7.612%, 10/27/34(A) (B) | 2450 | 2445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Anchorage Capital Europe CLO 2 DAC, Ser 2025-2X, Cl ERR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Anchorage Capital Europe CLO 2 DAC, Ser 2025-2X, Cl ERR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.997%, EUR003M + 6.000%, 03/30/38(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.997%, EUR003M + 6.000%, 03/30/38(B) | 1750 | 2053 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Anchorage Capital Europe CLO 3 DAC, Ser 2024-3A, Cl FR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Anchorage Capital Europe CLO 3 DAC, Ser 2024-3A, Cl FR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.516%, EUR003M + 8.490%, 10/15/38(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.516%, EUR003M + 8.490%, 10/15/38(A) (B) | 2000 | 2341 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Anchorage Capital Europe CLO 8 DAC, Ser 2024-8A, Cl ER | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Anchorage Capital Europe CLO 8 DAC, Ser 2024-8A, Cl ER |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.939%, EUR003M + 6.000%, 10/25/38(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.939%, EUR003M + 6.000%, 10/25/38(A) (B) | 1000 | 1185 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Anchorage Capital Europe CLO DAC, Ser 2021-4X, Cl E | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Anchorage Capital Europe CLO DAC, Ser 2021-4X, Cl E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.649%, EUR003M + 5.710%, 04/25/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.649%, EUR003M + 5.710%, 04/25/34(B) | 1000 | 1176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aqueduct European CLO DAC, Ser 2024-7X, Cl FR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aqueduct European CLO DAC, Ser 2024-7X, Cl FR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.424%, EUR003M + 8.410%, 08/15/37(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.424%, EUR003M + 8.410%, 08/15/37(B) | 2000 | 2404 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 43

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arbour CLO III DAC, Ser 2021-3X, Cl ERR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arbour CLO III DAC, Ser 2021-3X, Cl ERR |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.916%, EUR003M + 5.890%, 07/15/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.916%, EUR003M + 5.890%, 07/15/34(B) | EUR | 1250 | $1468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ARBOUR CLO IX DAC, Ser 2021-9X, Cl E | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ARBOUR CLO IX DAC, Ser 2021-9X, Cl E |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.816%, EUR003M + 5.790%, 04/15/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.816%, EUR003M + 5.790%, 04/15/34(B) | EUR | 1300 | 1516 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ARBOUR CLO IX DAC, Ser 2021-9X, Cl F | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ARBOUR CLO IX DAC, Ser 2021-9X, Cl F |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.316%, EUR003M + 8.290%, 04/15/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.316%, EUR003M + 8.290%, 04/15/34(B) | EUR | 1000 | 1168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arbour CLO VII DAC, Ser 2024-7A, Cl FR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arbour CLO VII DAC, Ser 2024-7A, Cl FR |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.274%, EUR003M + 8.260%, 12/15/38(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.274%, EUR003M + 8.260%, 12/15/38(A) (B) | EUR | 1000 | 1141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ARBOUR CLO VIII DAC, Ser 2021-8X, Cl FR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ARBOUR CLO VIII DAC, Ser 2021-8X, Cl FR |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.676%, EUR003M + 8.650%, 10/15/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.676%, EUR003M + 8.650%, 10/15/34(B) | EUR | 3500 | 3987 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ARES XLIV CLO, Ser 2025-44A, Cl DRR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ARES XLIV CLO, Ser 2025-44A, Cl DRR |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.544%, TSFR3M + 6.250%, 04/15/34(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.544%, TSFR3M + 6.250%, 04/15/34(A) (B) |  | 3500 | 3509 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Armada Euro CLO III DAC, Ser 2024-3A, Cl ARR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Armada Euro CLO III DAC, Ser 2024-3A, Cl ARR |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.376%, EUR003M + 1.350%, 10/15/37(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.376%, EUR003M + 1.350%, 10/15/37(A) (B) | EUR | 14000 | 16465 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Avoca CLO XIV DAC, Ser 2025-14X, Cl FRR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Avoca CLO XIV DAC, Ser 2025-14X, Cl FRR |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.192%, EUR003M + 8.220%, 07/15/39(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.192%, EUR003M + 8.220%, 07/15/39(B) | EUR | 1000 | 1168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bain Capital Credit CLO, Ser 2025-2A, Cl ER3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bain Capital Credit CLO, Ser 2025-2A, Cl ER3 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.222%, TSFR3M + 5.900%, 10/17/32(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.222%, TSFR3M + 5.900%, 10/17/32(A) (B) |  | 1580 | 1561 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bain Capital Credit CLO, Ser 2025-4A, Cl ERR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bain Capital Credit CLO, Ser 2025-4A, Cl ERR |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.319%, TSFR3M + 7.000%, 04/23/35(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.319%, TSFR3M + 7.000%, 04/23/35(A) (B) |  | 1140 | 1128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bain Capital Euro CLO DAC, Ser 2021-2X, Cl E | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bain Capital Euro CLO DAC, Ser 2021-2X, Cl E |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.262%, EUR003M + 6.220%, 07/17/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.262%, EUR003M + 6.220%, 07/17/34(B) | EUR | 1000 | 1169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Barings Euro CLO DAC, Ser 2021-2X, Cl E | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Barings Euro CLO DAC, Ser 2021-2X, Cl E |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.196%, EUR003M + 6.170%, 10/15/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.196%, EUR003M + 6.170%, 10/15/34(B) | EUR | 1374 | 1568 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Barings Euro CLO DAC, Ser 2022-1X, Cl ERR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Barings Euro CLO DAC, Ser 2022-1X, Cl ERR |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.799%, EUR003M + 6.860%, 07/25/35(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.799%, EUR003M + 6.860%, 07/25/35(B) | EUR | 2220 | $2562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Barings Euro CLO DAC, Ser 2022-3X, Cl D | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Barings Euro CLO DAC, Ser 2022-3X, Cl D |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.548%, EUR003M + 3.600%, 07/27/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.548%, EUR003M + 3.600%, 07/27/34(B) | EUR | 1000 | 1164 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Blackrock European CLO III DAC, Ser 2021-3X, Cl ER | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Blackrock European CLO III DAC, Ser 2021-3X, Cl ER |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.154%, EUR003M + 6.130%, 07/19/35(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.154%, EUR003M + 6.130%, 07/19/35(B) | EUR | 3750 | 4416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Blackrock European CLO VIII DAC, Ser 2022-8X, Cl ER | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Blackrock European CLO VIII DAC, Ser 2022-8X, Cl ER |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.284%, EUR003M + 6.260%, 01/20/36(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.284%, EUR003M + 6.260%, 01/20/36(B) | EUR | 1350 | 1572 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bluemountain Euro CLO DAC, Ser 2021-2X, Cl D | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bluemountain Euro CLO DAC, Ser 2021-2X, Cl D |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.126%, EUR003M + 3.100%, 10/15/35(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.126%, EUR003M + 3.100%, 10/15/35(B) | EUR | 1150 | 1340 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNPP AM Euro CLO 2017 DAC, Ser 2017-1X, Cl E | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNPP AM Euro CLO 2017 DAC, Ser 2017-1X, Cl E |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.726%, EUR003M + 4.700%, 10/15/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.726%, EUR003M + 4.700%, 10/15/31(B) | EUR | 3500 | 3988 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNPP AM Euro CLO 2019 DAC, Ser 2019-1X, Cl E | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNPP AM Euro CLO 2019 DAC, Ser 2019-1X, Cl E |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.625%, EUR003M + 5.630%, 07/22/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.625%, EUR003M + 5.630%, 07/22/32(B) | EUR | 3200 | 3743 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNPP AM Euro CLO 2021 DAC, Ser 2021-1X, Cl E | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNPP AM Euro CLO 2021 DAC, Ser 2021-1X, Cl E |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.814%, EUR003M + 5.800%, 12/15/33(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.814%, EUR003M + 5.800%, 12/15/33(B) | EUR | 1020 | 1193 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bosphorus CLO VI DAC, Ser 2021-6X, Cl E | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bosphorus CLO VI DAC, Ser 2021-6X, Cl E |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.826%, EUR003M + 5.800%, 05/25/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.826%, EUR003M + 5.800%, 05/25/34(B) | EUR | 2500 | 2890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cairn CLO, Ser 2025-19A, Cl E | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cairn CLO, Ser 2025-19A, Cl E |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.595%, EUR003M + 6.000%, 04/15/39(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.595%, EUR003M + 6.000%, 04/15/39(A) (B) | EUR | 2000 | 2362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cairn CLO XI DAC, Ser 2019-11X, Cl E | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cairn CLO XI DAC, Ser 2019-11X, Cl E |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.796%, EUR003M + 6.770%, 07/15/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.796%, EUR003M + 6.770%, 07/15/32(B) | EUR | 5850 | 6872 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cairn CLO XII DAC, Ser 2021-12X, Cl AR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cairn CLO XII DAC, Ser 2021-12X, Cl AR |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.016%, EUR003M + 0.990%, 07/15/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.016%, EUR003M + 0.990%, 07/15/34(B) | EUR | 3400 | 3985 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 44

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cairn CLO XIII DAC, Ser 2021-13X, Cl E | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cairn CLO XIII DAC, Ser 2021-13X, Cl E |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.144%, EUR003M + 6.120%, 10/20/33(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.144%, EUR003M + 6.120%, 10/20/33(B) | EUR | 1000 | $1172 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cairn CLO XIV DAC, Ser 2021-14X, Cl E | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cairn CLO XIV DAC, Ser 2021-14X, Cl E |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.081%, EUR003M + 6.110%, 10/29/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.081%, EUR003M + 6.110%, 10/29/34(B) | EUR | 1000 | 1176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Carlyle Euro CLO DAC, Ser 2019-1X, Cl D | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Carlyle Euro CLO DAC, Ser 2019-1X, Cl D |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.134%, EUR003M + 6.120%, 03/15/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.134%, EUR003M + 6.120%, 03/15/32(B) | EUR | 1000 | 1171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Carlyle Euro CLO DAC, Ser 2021-1X, Cl DR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Carlyle Euro CLO DAC, Ser 2021-1X, Cl DR |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.496%, EUR003M + 6.470%, 07/15/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.496%, EUR003M + 6.470%, 07/15/34(B) | EUR | 1650 | 1916 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Carlyle Euro CLO DAC, Ser 2021-2X, Cl D | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Carlyle Euro CLO DAC, Ser 2021-2X, Cl D |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.086%, EUR003M + 6.060%, 01/15/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.086%, EUR003M + 6.060%, 01/15/34(B) | EUR | 1033 | 1197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Carlyle Euro CLO DAC, Ser 2022-3X, Cl C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Carlyle Euro CLO DAC, Ser 2022-3X, Cl C |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.536%, EUR003M + 3.500%, 02/15/35(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.536%, EUR003M + 3.500%, 02/15/35(B) | EUR | 1350 | 1563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Carlyle Euro CLO DAC, Ser 2022-3X, Cl D | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Carlyle Euro CLO DAC, Ser 2022-3X, Cl D |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.496%, EUR003M + 6.460%, 02/15/35(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.496%, EUR003M + 6.460%, 02/15/35(B) | EUR | 2700 | 3122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Carlyle Global Market Strategies Euro CLO DAC, Ser 2018-3X, Cl DR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Carlyle Global Market Strategies Euro CLO DAC, Ser 2018-3X, Cl DR |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.519%, EUR003M + 4.580%, 01/25/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.519%, EUR003M + 4.580%, 01/25/32(B) | EUR | 2400 | 2756 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Carlyle Global Market Strategies Euro CLO DAC, Ser 2020-1X, Cl DR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Carlyle Global Market Strategies Euro CLO DAC, Ser 2020-1X, Cl DR |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.541%, EUR003M + 5.500%, 01/16/33(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.541%, EUR003M + 5.500%, 01/16/33(B) | EUR | 3000 | 3509 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Carlyle Global Market Strategies Euro CLO DAC, Ser 2022-2X, Cl DRR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Carlyle Global Market Strategies Euro CLO DAC, Ser 2022-2X, Cl DRR |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.653%, EUR003M + 6.650%, 11/10/35(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.653%, EUR003M + 6.650%, 11/10/35(B) | EUR | 1450 | 1676 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cathedral Lake VIII, Ser 2021-8A, Cl E | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cathedral Lake VIII, Ser 2021-8A, Cl E |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12.077%, TSFR3M + 7.752%, 01/20/35(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12.077%, TSFR3M + 7.752%, 01/20/35(A) (B) |  | 2000 | 1967 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clonmore Park CLO DAC, Ser 2024-1X, Cl AR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clonmore Park CLO DAC, Ser 2024-1X, Cl AR |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.534%, EUR003M + 1.500%, 08/21/35(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.534%, EUR003M + 1.500%, 08/21/35(B) | EUR | 2000 | 2350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contego CLO VII DAC, Ser 2025-7A, Cl ER | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contego CLO VII DAC, Ser 2025-7A, Cl ER |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.931%, EUR003M + 5.960%, 01/23/38(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.931%, EUR003M + 5.960%, 01/23/38(A) (B) | EUR | 1300 | $1525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CQS US CLO, Ser 2021-1A, Cl DJ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CQS US CLO, Ser 2021-1A, Cl DJ |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.567%, TSFR3M + 5.242%, 01/20/35(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.567%, TSFR3M + 5.242%, 01/20/35(A) (B) |  | 300 | 299 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Crown Point CLO 10, Ser 2021-10A, Cl E | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Crown Point CLO 10, Ser 2021-10A, Cl E |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.437%, TSFR3M + 7.112%, 07/20/34(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.437%, TSFR3M + 7.112%, 07/20/34(A) (B) |  | 3500 | 3486 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CVC Cordatus Loan Fund IV DAC, Ser 2021-4X, Cl FRRR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CVC Cordatus Loan Fund IV DAC, Ser 2021-4X, Cl FRRR |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.094%, EUR003M + 8.060%, 02/22/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.094%, EUR003M + 8.060%, 02/22/34(B) | EUR | 615 | 715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CVC Cordatus Loan Fund XVI DAC, Ser 2019-16X, Cl E | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CVC Cordatus Loan Fund XVI DAC, Ser 2019-16X, Cl E |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.733%, EUR003M + 6.700%, 06/17/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.733%, EUR003M + 6.700%, 06/17/32(B) | EUR | 1000 | 1177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CVC Cordatus Loan Fund XX DAC, Ser 2021-20X, Cl E | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CVC Cordatus Loan Fund XX DAC, Ser 2021-20X, Cl E |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.639%, EUR003M + 5.610%, 06/22/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.639%, EUR003M + 5.610%, 06/22/34(B) | EUR | 1000 | 1167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CVC Cordatus Loan Fund XXI DAC, Ser 2021-21X, Cl F | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CVC Cordatus Loan Fund XXI DAC, Ser 2021-21X, Cl F |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.729%, EUR003M + 8.700%, 09/22/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.729%, EUR003M + 8.700%, 09/22/34(B) | EUR | 1300 | 1526 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CVC Cordatus Loan Fund XXII DAC, Ser 2021-22X, Cl F | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CVC Cordatus Loan Fund XXII DAC, Ser 2021-22X, Cl F |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.794%, EUR003M + 8.780%, 12/15/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.794%, EUR003M + 8.780%, 12/15/34(B) | EUR | 1700 | 1989 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Diameter Capital CLO 2, Ser 2024-2A, Cl DR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Diameter Capital CLO 2, Ser 2024-2A, Cl DR |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.468%, TSFR3M + 6.150%, 10/15/37(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.468%, TSFR3M + 6.150%, 10/15/37(A) (B) |  | 2200 | 2229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Diameter Capital CLO 5, Ser 2023-5A, Cl D | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Diameter Capital CLO 5, Ser 2023-5A, Cl D |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.888%, TSFR3M + 7.570%, 10/15/36(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.888%, TSFR3M + 7.570%, 10/15/36(A) (B) |  | 2000 | 1995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DRYDEN 35 EURO CLO BV, Ser 2020-35X, Cl ER | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DRYDEN 35 EURO CLO BV, Ser 2020-35X, Cl ER |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.372%, EUR003M + 6.330%, 01/17/33(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.372%, EUR003M + 6.330%, 01/17/33(B) | EUR | 4200 | 4914 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 45

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dryden 69 Euro CLO 2018 DAC, Ser 2021-69X, Cl ER | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dryden 69 Euro CLO 2018 DAC, Ser 2021-69X, Cl ER |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.391%, EUR003M + 6.370%, 10/18/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.391%, EUR003M + 6.370%, 10/18/34(B) | 4700 | $5471 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dryden 88 Euro CLO 2020 DAC, Ser 2021-88X, Cl E | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dryden 88 Euro CLO 2020 DAC, Ser 2021-88X, Cl E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.034%, EUR003M + 6.010%, 07/20/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.034%, EUR003M + 6.010%, 07/20/34(B) | 1700 | 1879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dryden 89 Euro CLO 2020 DAC, Ser 2021-89X, Cl E | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dryden 89 Euro CLO 2020 DAC, Ser 2021-89X, Cl E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.181%, EUR003M + 6.160%, 10/18/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.181%, EUR003M + 6.160%, 10/18/34(B) | 1500 | 1754 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dryden 91 Euro CLO 2021 DAC, Ser 2024-91X, Cl AR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dryden 91 Euro CLO 2021 DAC, Ser 2024-91X, Cl AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.341%, EUR003M + 1.320%, 01/18/38(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.341%, EUR003M + 1.320%, 01/18/38(B) | 6000 | 7028 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dunedin Park CLO DAC, Ser 2021-1X, Cl FR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dunedin Park CLO DAC, Ser 2021-1X, Cl FR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.958%, EUR003M + 8.930%, 11/20/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.958%, EUR003M + 8.930%, 11/20/34(B) | 3500 | 4053 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Euro-Galaxy III CLO DAC, Ser 2021-3X, Cl FRRR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Euro-Galaxy III CLO DAC, Ser 2021-3X, Cl FRRR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.924%, EUR003M + 7.980%, 04/24/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.924%, EUR003M + 7.980%, 04/24/34(B) | 500 | 579 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Euro-Galaxy V CLO DAC, Ser 2021-5X, Cl ERR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Euro-Galaxy V CLO DAC, Ser 2021-5X, Cl ERR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.856%, EUR003M + 5.820%, 02/15/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.856%, EUR003M + 5.820%, 02/15/34(B) | 1350 | 1560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fidelity Grand Harbour CLO DAC, Ser 2024-1A, Cl AR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fidelity Grand Harbour CLO DAC, Ser 2024-1A, Cl AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.526%, EUR003M + 1.500%, 04/15/37(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.526%, EUR003M + 1.500%, 04/15/37(A) (B) | 5000 | 5869 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fidelity Grand Harbour CLO DAC, Ser 2024-1A, Cl ER | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fidelity Grand Harbour CLO DAC, Ser 2024-1A, Cl ER |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.026%, EUR003M + 6.000%, 01/15/38(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.026%, EUR003M + 6.000%, 01/15/38(A) (B) | 1000 | 1178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fidelity Grand Harbour CLO DAC, Ser 2025-1A, Cl ARR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fidelity Grand Harbour CLO DAC, Ser 2025-1A, Cl ARR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.346%, EUR003M + 1.320%, 10/15/39(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.346%, EUR003M + 1.320%, 10/15/39(A) (B) | 4000 | 4696 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HalseyPoint CLO 4, Ser 2021-4A, Cl E | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HalseyPoint CLO 4, Ser 2021-4A, Cl E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.297%, TSFR3M + 6.972%, 04/20/34(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.297%, TSFR3M + 6.972%, 04/20/34(A) (B) | $4000 | $3994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Harvest CLO XXII DAC, Ser 2019-22X, Cl E | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Harvest CLO XXII DAC, Ser 2019-22X, Cl E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.136%, EUR003M + 6.110%, 01/15/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.136%, EUR003M + 6.110%, 01/15/32(B) | 1500 | 1748 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Harvest CLO XXIII DAC, Ser 2020-23X, Cl F | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Harvest CLO XXIII DAC, Ser 2020-23X, Cl F |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.334%, EUR003M + 8.310%, 10/20/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.334%, EUR003M + 8.310%, 10/20/32(B) | 1500 | 1752 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hayfin Emerald CLO III DAC, Ser 2021-3X, Cl FR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hayfin Emerald CLO III DAC, Ser 2021-3X, Cl FR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.906%, EUR003M + 8.880%, 01/15/35(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.906%, EUR003M + 8.880%, 01/15/35(B) | 1600 | 1860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hayfin Emerald CLO IV DAC, Ser 2021-4X, Cl DR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hayfin Emerald CLO IV DAC, Ser 2021-4X, Cl DR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.476%, EUR003M + 3.450%, 10/15/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.476%, EUR003M + 3.450%, 10/15/34(B) | 2255 | 2647 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hayfin Emerald CLO VII DAC, Ser 2021-7X, Cl D | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hayfin Emerald CLO VII DAC, Ser 2021-7X, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.326%, EUR003M + 3.300%, 04/15/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.326%, EUR003M + 3.300%, 04/15/34(B) | 4729 | 5524 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hayfin Emerald CLO VIII DAC, Ser 2021-8X, Cl D | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hayfin Emerald CLO VIII DAC, Ser 2021-8X, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.542%, EUR003M + 3.500%, 01/17/35(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.542%, EUR003M + 3.500%, 01/17/35(B) | 1550 | 1809 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hayfin US XV, Ser 2024-15A, Cl A1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hayfin US XV, Ser 2024-15A, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.954%, TSFR3M + 1.640%, 04/28/37(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.954%, TSFR3M + 1.640%, 04/28/37(A) (B) | 1500 | 1505 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Henley CLO III DAC, Ser 2021-3X, Cl ER | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Henley CLO III DAC, Ser 2021-3X, Cl ER |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.229%, EUR003M + 6.290%, 12/25/35(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.229%, EUR003M + 6.290%, 12/25/35(B) | 1050 | 1234 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ICG Euro CLO DAC, Ser 2021-1X, Cl E | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ICG Euro CLO DAC, Ser 2021-1X, Cl E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.486%, EUR003M + 6.460%, 10/15/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.486%, EUR003M + 6.460%, 10/15/34(B) | 2000 | 2333 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ICG Euro CLO DAC, Ser 2021-1X, Cl F | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ICG Euro CLO DAC, Ser 2021-1X, Cl F |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.846%, EUR003M + 8.820%, 10/15/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.846%, EUR003M + 8.820%, 10/15/34(B) | 1000 | 1151 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ICG Euro CLO DAC, Ser 2024-1A, Cl ER | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ICG Euro CLO DAC, Ser 2024-1A, Cl ER |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.266%, EUR003M + 6.230%, 02/15/38(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.266%, EUR003M + 6.230%, 02/15/38(A) (B) | 2000 | 2348 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 46

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jamestown CLO XVII, Ser 2021-17A, Cl E | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jamestown CLO XVII, Ser 2021-17A, Cl E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.670%, TSFR3M + 7.352%, 01/25/35(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.670%, TSFR3M + 7.352%, 01/25/35(A) (B) | $4000 | $3957 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Logiclane I CLO DAC, Ser 2022-1X, Cl A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Logiclane I CLO DAC, Ser 2022-1X, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.996%, EUR003M + 0.970%, 03/15/35(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.996%, EUR003M + 0.970%, 03/15/35(B) | 5000 | 5848 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Madison Park Euro Funding XII DAC, Ser 2018-12X, Cl EN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Madison Park Euro Funding XII DAC, Ser 2018-12X, Cl EN |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.226%, EUR003M + 5.200%, 10/15/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.226%, EUR003M + 5.200%, 10/15/31(B) | 151 | 175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Madison Park Euro Funding XIV DAC, Ser 2021-14X, Cl FR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Madison Park Euro Funding XIV DAC, Ser 2021-14X, Cl FR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.846%, EUR003M + 8.820%, 07/15/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.846%, EUR003M + 8.820%, 07/15/32(B) | 1770 | 2068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Madison Park Euro Funding XVI DAC, Ser 2021-16X, Cl E | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Madison Park Euro Funding XVI DAC, Ser 2021-16X, Cl E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.046%, EUR003M + 6.020%, 05/25/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.046%, EUR003M + 6.020%, 05/25/34(B) | 1000 | 1181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Madison Park Euro Funding XX DAC, Ser 2024-20A, Cl AR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Madison Park Euro Funding XX DAC, Ser 2024-20A, Cl AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.496%, EUR003M + 1.470%, 04/15/38(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.496%, EUR003M + 1.470%, 04/15/38(A) (B) | 5000 | 5893 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Madison Park Euro Funding XX DAC, Ser 2024-20X, Cl FR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Madison Park Euro Funding XX DAC, Ser 2024-20X, Cl FR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.166%, EUR003M + 8.140%, 04/15/38(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.166%, EUR003M + 8.140%, 04/15/38(B) | 2000 | 2336 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Madison Park Funding XXVIII, Ser 2024-28A, Cl ER | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Madison Park Funding XXVIII, Ser 2024-28A, Cl ER |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.668%, TSFR3M + 6.350%, 01/15/38(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.668%, TSFR3M + 6.350%, 01/15/38(A) (B) | 4000 | 3949 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Marble Point CLO XX, Ser 2021-1A, Cl E | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Marble Point CLO XX, Ser 2021-1A, Cl E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.691%, TSFR3M + 7.372%, 04/23/34(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.691%, TSFR3M + 7.372%, 04/23/34(A) (B) | 1000 | 996 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Milford Park CLO, Ser 2025-1A, Cl FR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Milford Park CLO, Ser 2025-1A, Cl FR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.576%, TSFR3M + 7.250%, 01/20/38(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.576%, TSFR3M + 7.250%, 01/20/38(A) (B) | 1000 | 904 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mountain View Clo XV, Ser 2024-2A, Cl A1R | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mountain View Clo XV, Ser 2024-2A, Cl A1R |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.988%, TSFR3M + 1.670%, 07/15/37(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.988%, TSFR3M + 1.670%, 07/15/37(A) (B) | $4500 | $4510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; North Westerly V Leveraged Loan Strategies CLO DAC, Ser 2021-X, Cl FR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; North Westerly V Leveraged Loan Strategies CLO DAC, Ser 2021-X, Cl FR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.924%, EUR003M + 7.900%, 07/20/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.924%, EUR003M + 7.900%, 07/20/34(B) | 2000 | 2274 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Northwoods Capital 25, Ser 2021-25A, Cl E | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Northwoods Capital 25, Ser 2021-25A, Cl E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.727%, TSFR3M + 7.402%, 07/20/34(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.727%, TSFR3M + 7.402%, 07/20/34(A) (B) | 2000 | 2001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; OAK Hill European Credit Partners V DAC, Ser 2021-5X, Cl DR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; OAK Hill European Credit Partners V DAC, Ser 2021-5X, Cl DR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.624%, EUR003M + 3.600%, 01/21/35(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.624%, EUR003M + 3.600%, 01/21/35(B) | 1350 | 1599 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; OAK Hill European Credit Partners V DAC, Ser 2021-5X, Cl ER | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; OAK Hill European Credit Partners V DAC, Ser 2021-5X, Cl ER |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.394%, EUR003M + 6.370%, 01/21/35(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.394%, EUR003M + 6.370%, 01/21/35(B) | 1000 | 1178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; OAK Hill European Credit Partners VII DAC, Ser 2018-7X, Cl F | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; OAK Hill European Credit Partners VII DAC, Ser 2018-7X, Cl F |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.174%, EUR003M + 7.150%, 10/20/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.174%, EUR003M + 7.150%, 10/20/31(B) | 1000 | 1146 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Obra CLO 1, Ser 2024-1A, Cl E | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Obra CLO 1, Ser 2024-1A, Cl E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.076%, TSFR3M + 6.750%, 01/20/38(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.076%, TSFR3M + 6.750%, 01/20/38(A) (B) | 1250 | 1249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Palmer Square Loan Funding, Ser 2024-3A, Cl DR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Palmer Square Loan Funding, Ser 2024-3A, Cl DR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.218%, TSFR3M + 5.900%, 04/15/31(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.218%, TSFR3M + 5.900%, 04/15/31(A) (B) | 1600 | 1599 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Park Blue CLO, Ser 2024-1A, Cl A1R | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Park Blue CLO, Ser 2024-1A, Cl A1R |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.746%, TSFR3M + 1.420%, 10/20/37(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.746%, TSFR3M + 1.420%, 10/20/37(A) (B) | 7460 | 7479 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pikes Peak CLO 5, Ser 2024-5A, Cl ER | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pikes Peak CLO 5, Ser 2024-5A, Cl ER |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.226%, TSFR3M + 6.900%, 10/20/37(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.226%, TSFR3M + 6.900%, 10/20/37(A) (B) | 1000 | 1006 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 47

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pikes Peak CLO 6, Ser 2025-6A, Cl FRR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pikes Peak CLO 6, Ser 2025-6A, Cl FRR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.585%, TSFR3M + 7.400%, 05/18/34(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.585%, TSFR3M + 7.400%, 05/18/34(A) (B) | $1000 | $958 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purple Finance CLO 2 DAC, Ser 2019-2X, Cl E | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purple Finance CLO 2 DAC, Ser 2019-2X, Cl E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.424%, EUR003M + 6.400%, 04/20/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.424%, EUR003M + 6.400%, 04/20/32(B) | 2000 | 2358 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rockford Tower Europe CLO DAC, Ser 2021-2X, Cl D | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rockford Tower Europe CLO DAC, Ser 2021-2X, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.394%, EUR003M + 3.450%, 01/24/35(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.394%, EUR003M + 3.450%, 01/24/35(B) | 1350 | 1582 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rockford Tower Europe CLO DAC, Ser 2021-2X, Cl E | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rockford Tower Europe CLO DAC, Ser 2021-2X, Cl E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.164%, EUR003M + 6.220%, 01/24/35(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.164%, EUR003M + 6.220%, 01/24/35(B) | 2500 | 2927 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rockford Tower Europe CLO DAC, Ser 2021-2X, Cl F | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rockford Tower Europe CLO DAC, Ser 2021-2X, Cl F |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.844%, EUR003M + 8.900%, 01/24/35(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.844%, EUR003M + 8.900%, 01/24/35(B) | 1000 | 1160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sandstone Peak III, Ser 2024-1A, Cl A1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sandstone Peak III, Ser 2024-1A, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.949%, TSFR3M + 1.630%, 04/25/37(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.949%, TSFR3M + 1.630%, 04/25/37(A) (B) | 10000 | 10018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sculptor CLO XXVII, Ser 2025-27A, Cl ER | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sculptor CLO XXVII, Ser 2025-27A, Cl ER |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.576%, TSFR3M + 6.250%, 07/20/34(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.576%, TSFR3M + 6.250%, 07/20/34(A) (B) | 1000 | 966 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sculptor CLO XXVIII, Ser 2025-28A, Cl ER | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sculptor CLO XXVIII, Ser 2025-28A, Cl ER |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.626%, TSFR3M + 6.300%, 01/20/35(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.626%, TSFR3M + 6.300%, 01/20/35(A) (B) | 2000 | 1926 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sculptor European CLO II DAC, Ser 2021-2X, Cl DR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sculptor European CLO II DAC, Ser 2021-2X, Cl DR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.626%, EUR003M + 3.600%, 04/15/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.626%, EUR003M + 3.600%, 04/15/34(B) | 1000 | 1172 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sculptor European CLO II DAC, Ser 2021-2X, Cl ER | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sculptor European CLO II DAC, Ser 2021-2X, Cl ER |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.916%, EUR003M + 5.890%, 04/15/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.916%, EUR003M + 5.890%, 04/15/34(B) | 1100 | 1291 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sculptor European CLO VI DAC, Ser 2021-6X, Cl DR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sculptor European CLO VI DAC, Ser 2021-6X, Cl DR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.426%, EUR003M + 3.400%, 10/15/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.426%, EUR003M + 3.400%, 10/15/34(B) | 1350 | 1582 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sculptor European CLO VIII DAC, Ser 2021-8X, Cl E | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sculptor European CLO VIII DAC, Ser 2021-8X, Cl E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.212%, EUR003M + 6.170%, 07/17/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.212%, EUR003M + 6.170%, 07/17/34(B) | 1000 | $1176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; St. Paul's CLO IX DAC, Ser 2022-9X, Cl ER | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; St. Paul's CLO IX DAC, Ser 2022-9X, Cl ER |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.174%, EUR003M + 7.150%, 07/20/35(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.174%, EUR003M + 7.150%, 07/20/35(B) | 1000 | 1171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; St. Paul's CLO VI DAC, Ser 2021-6X, Cl ERR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; St. Paul's CLO VI DAC, Ser 2021-6X, Cl ERR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.328%, EUR003M + 6.300%, 05/20/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.328%, EUR003M + 6.300%, 05/20/34(B) | 1000 | 1172 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; St. Paul's CLO VII DAC, Ser 2021-7X, Cl ERR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; St. Paul's CLO VII DAC, Ser 2021-7X, Cl ERR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.141%, EUR003M + 6.120%, 07/18/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.141%, EUR003M + 6.120%, 07/18/34(B) | 4000 | 4626 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; St. Paul's CLO VIII DAC, Ser 2017-8X, Cl E | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; St. Paul's CLO VIII DAC, Ser 2017-8X, Cl E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.642%, EUR003M + 4.600%, 07/17/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.642%, EUR003M + 4.600%, 07/17/30(B) | 2800 | 3278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; St. Paul's CLO X DAC, Ser 2021-10X, Cl DR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; St. Paul's CLO X DAC, Ser 2021-10X, Cl DR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.745%, EUR003M + 3.750%, 04/22/35(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.745%, EUR003M + 3.750%, 04/22/35(B) | 250 | 293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; St. Paul's CLO X DAC, Ser 2021-10X, Cl ER | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; St. Paul's CLO X DAC, Ser 2021-10X, Cl ER |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.355%, EUR003M + 6.360%, 04/22/35(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.355%, EUR003M + 6.360%, 04/22/35(B) | 2360 | 2735 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; St. Paul's CLO XII DAC, Ser 2020-12X, Cl E | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; St. Paul's CLO XII DAC, Ser 2020-12X, Cl E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.346%, EUR003M + 5.320%, 04/15/33(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.346%, EUR003M + 5.320%, 04/15/33(B) | 1710 | 2003 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sycamore Tree CLO, Ser 2024-3A, Cl A1R | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sycamore Tree CLO, Ser 2024-3A, Cl A1R |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.976%, TSFR3M + 1.650%, 04/20/37(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.976%, TSFR3M + 1.650%, 04/20/37(A) (B) | 7500 | 7525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tikehau CLO II BV, Ser 2021-2X, Cl ER | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tikehau CLO II BV, Ser 2021-2X, Cl ER |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.398%, EUR003M + 6.320%, 09/07/35(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.398%, EUR003M + 6.320%, 09/07/35(B) | 1000 | 1166 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tikehau CLO IV DAC, Ser 2025-4X, Cl FR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tikehau CLO IV DAC, Ser 2025-4X, Cl FR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.387%, EUR003M + 8.340%, 10/15/39(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.387%, EUR003M + 8.340%, 10/15/39(B) | 1000 | 1162 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tikehau CLO VI DAC, Ser 2021-6X, Cl E | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tikehau CLO VI DAC, Ser 2021-6X, Cl E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.346%, EUR003M + 6.320%, 01/15/35(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.346%, EUR003M + 6.320%, 01/15/35(B) | 1100 | 1281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Toro European CLO 2 DAC, Ser 2021-2X, Cl ERR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Toro European CLO 2 DAC, Ser 2021-2X, Cl ERR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.409%, EUR003M + 6.470%, 07/25/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.409%, EUR003M + 6.470%, 07/25/34(B) | 2000 | 2315 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 48

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Toro European CLO 3 DAC, Ser 2021-3X, Cl ERR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Toro European CLO 3 DAC, Ser 2021-3X, Cl ERR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.326%, EUR003M + 6.300%, 07/15/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.326%, EUR003M + 6.300%, 07/15/34(B) | 3500 | $4072 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Toro European CLO 6 DAC, Ser 2019-6X, Cl E | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Toro European CLO 6 DAC, Ser 2019-6X, Cl E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.491%, EUR003M + 6.490%, 01/12/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.491%, EUR003M + 6.490%, 01/12/32(B) | 1207 | 1406 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Toro European CLO 7 DAC, Ser 2020-7X, Cl E | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Toro European CLO 7 DAC, Ser 2020-7X, Cl E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.196%, EUR003M + 7.160%, 02/15/34(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.196%, EUR003M + 7.160%, 02/15/34(B) | 2634 | 3093 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trimaran Cavu, Ser 2021-3A, Cl E | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trimaran Cavu, Ser 2021-3A, Cl E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.961%, TSFR3M + 7.632%, 01/18/35(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.961%, TSFR3M + 7.632%, 01/18/35(A) (B) | 2000 | 1977 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trimaran Cavu, Ser 2024-1A, Cl ER | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trimaran Cavu, Ser 2024-1A, Cl ER |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.252%, TSFR3M + 6.920%, 10/22/37(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.252%, TSFR3M + 6.920%, 10/22/37(A) (B) | 3000 | 2989 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.326%, TSFR3M + 6.000%, 01/20/37(A) (B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.326%, TSFR3M + 6.000%, 01/20/37(A) (B) | 3060 | 3009 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Collateralized Loan Obligations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Collateralized Loan Obligations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Collateralized Loan Obligations** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cost ($304228) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cost ($304228) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cost ($304228) | 322673 |
|  **Loan Participations [16.0%]** | **Loan Participations [16.0%]** | **Loan Participations [16.0%]** | **Loan Participations [16.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Aerospace and Defense [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Aerospace and Defense [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Aerospace and Defense [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Aerospace and Defense [0.3%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aernnova Aerospace S.A.U., New Facility B, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aernnova Aerospace S.A.U., New Facility B, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.979%, Euribor + 4.000%, 02/27/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.979%, Euribor + 4.000%, 02/27/30(B) | 1000 | 1167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cobham Ultra SeniorCo S.a r.l., Facility B (USD), 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cobham Ultra SeniorCo S.a r.l., Facility B (USD), 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.370%, CME Term SOFR + 3.750%, 08/03/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.370%, CME Term SOFR + 3.750%, 08/03/29(B) | 1141 | 1140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Heroux-Devtek 9/25 Cov-Lite TLB, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Heroux-Devtek 9/25 Cov-Lite TLB, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 09/30/32(F) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 09/30/32(F) | 200 | 200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kbr 7/24 TLB, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kbr 7/24 TLB, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.316%, 08/20/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.316%, 08/20/31(B) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TransDigm Inc., New Tranche K Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TransDigm Inc., New Tranche K Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.252%, CME Term SOFR + 2.250%, 03/22/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.252%, CME Term SOFR + 2.250%, 03/22/30(B) | 923 | 922 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TransDigm Inc., Tranche L Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TransDigm Inc., Tranche L Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.502%, CME Term SOFR + 2.500%, 01/19/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.502%, CME Term SOFR + 2.500%, 01/19/32(B) | $1035 | $1034 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vertex Aerospace Services LLC, 2024 Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vertex Aerospace Services LLC, 2024 Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.413%, CME Term SOFR + 2.250%, 12/06/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.413%, CME Term SOFR + 2.250%, 12/06/30(B) | 744 | 743 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Aerospace and Defense** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Aerospace and Defense** |  | 5206 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Automobile [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Automobile [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Automobile [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Automobile [0.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clarios Global LP, Amendment No. 5 Euro Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clarios Global LP, Amendment No. 5 Euro Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.913%, Euribor + 3.000%, 07/16/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.913%, Euribor + 3.000%, 07/16/31(B) | 1177 | 1385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CWGS Group, LLC, Initial Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CWGS Group, LLC, Initial Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.778%, CME Term SOFR + 2.500%, 06/03/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.778%, CME Term SOFR + 2.500%, 06/03/28(B) | 450 | 439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Automobile** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Automobile** |  | 1824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Banking [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Banking [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Banking [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Banking [0.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nexus Buyer LLC, Initial Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nexus Buyer LLC, Initial Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.663%, CME Term SOFR + 3.500%, 07/31/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.663%, CME Term SOFR + 3.500%, 07/31/31(B) | 1291 | 1287 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Beverage, Food and Tobacco [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Beverage, Food and Tobacco [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Beverage, Food and Tobacco [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Beverage, Food and Tobacco [0.3%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aspire Bakeries Holdings LLC, Second Amendment Refinancing Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aspire Bakeries Holdings LLC, Second Amendment Refinancing Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.663%, CME Term SOFR + 3.500%, 12/23/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.663%, CME Term SOFR + 3.500%, 12/23/30(B) | 504 | 505 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Golden State Foods LLC, Initial Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Golden State Foods LLC, Initial Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.002%, CME Term SOFR + 4.000%, 12/04/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.002%, CME Term SOFR + 4.000%, 12/04/31(B) | 366 | 367 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Peralta Inversiones Globales, S.L.U., Facility B2, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Peralta Inversiones Globales, S.L.U., Facility B2, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.526%, Euribor + 3.500%, 07/18/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.526%, Euribor + 3.500%, 07/18/31(B) | 995 | 1172 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 49

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Red SPV, LLC, Initial Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Red SPV, LLC, Initial Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.386%, CME Term SOFR + 2.250%, 03/15/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.386%, CME Term SOFR + 2.250%, 03/15/32(B) | $469 | $468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Savor Acquisition, Inc., Delayed Draw Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Savor Acquisition, Inc., Delayed Draw Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000%, UNFND + 3.000%, 02/19/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000%, UNFND + 3.000%, 02/19/32(B) | 44 | 44 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Savor Acquisition, Inc., Initial Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Savor Acquisition, Inc., Initial Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.163%, CME Term SOFR + 3.000%, 02/19/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.163%, CME Term SOFR + 3.000%, 02/19/32(B) | 465 | 467 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sazerac Company, Inc., Incremental Term B-1 Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sazerac Company, Inc., Incremental Term B-1 Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.700%, CME Term SOFR + 2.500%, 07/09/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.700%, CME Term SOFR + 2.500%, 07/09/32(B) | 355 | 357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United Petfood Finance BV, Facility B, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United Petfood Finance BV, Facility B, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.577%, Euribor + 2.500%, 02/26/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.577%, Euribor + 2.500%, 02/26/32(B) | 1000 | 1174 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Beverage, Food and Tobacco** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Beverage, Food and Tobacco** |  | 4554 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Broadcasting and Entertainment [0.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Broadcasting and Entertainment [0.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Broadcasting and Entertainment [0.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Broadcasting and Entertainment [0.5%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allen Media, LLC, Initial Term Loan (2021), 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allen Media, LLC, Initial Term Loan (2021), 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.652%, CME Term SOFR + 5.500%, 02/10/27(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.652%, CME Term SOFR + 5.500%, 02/10/27(B) | 628 | 443 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Altice Financing S.A., 2022 Refinancing Dollar Commitments, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Altice Financing S.A., 2022 Refinancing Dollar Commitments, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.318%, CME Term SOFR + 5.000%, 10/31/27(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.318%, CME Term SOFR + 5.000%, 10/31/27(B) | 1307 | 1095 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Altice France S.A., USD TLB-[14] Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Altice France S.A., USD TLB-[14] Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.818%, CME Term SOFR + 5.500%, 08/15/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.818%, CME Term SOFR + 5.500%, 08/15/28(B) | 257 | 248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DIRECTV Financing, LLC, 2024 Refinancing Term B Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DIRECTV Financing, LLC, 2024 Refinancing Term B Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.820%, CME Term SOFR + 5.250%, 08/02/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.820%, CME Term SOFR + 5.250%, 08/02/29(B) | 491 | 492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nexstar Media Inc., Term B-5 Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nexstar Media Inc., Term B-5 Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.663%, CME Term SOFR + 2.500%, 06/28/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.663%, CME Term SOFR + 2.500%, 06/28/32(B) | $365 | $364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pretzel Parent, Inc., Initial Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pretzel Parent, Inc., Initial Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.663%, CME Term SOFR + 4.500%, 10/01/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.663%, CME Term SOFR + 4.500%, 10/01/31(B) | 210 | 209 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Univision Communications Inc., 2024 Replacement Converted First-Lien Term Loan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Univision Communications Inc., 2024 Replacement Converted First-Lien Term Loan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.778%, 06/04/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.778%, 06/04/29(B) | 742 | 738 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Virgin Media Bl, The Bank Of Nova Scotia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Virgin Media Bl, The Bank Of Nova Scotia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.377%, EURIBOR + 3.500%, 07/07/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.377%, EURIBOR + 3.500%, 07/07/31(B) | 1000 | 1161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Virgin Media Bristol LLC, Facility Q, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Virgin Media Bristol LLC, Facility Q, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.515%, CME Term SOFR + 3.250%, 01/31/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.515%, CME Term SOFR + 3.250%, 01/31/29(B) | 825 | 824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Virgin Media Bristol LLC, Facility Y, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Virgin Media Bristol LLC, Facility Y, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.373%, CME Term SOFR + 3.175%, 03/31/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.373%, CME Term SOFR + 3.175%, 03/31/31(B) | 200 | 197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Virgin Media Bristol LLC, N Facility, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Virgin Media Bristol LLC, N Facility, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.765%, CME Term SOFR + 2.500%, 01/31/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.765%, CME Term SOFR + 2.500%, 01/31/28(B) | 415 | 415 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Virgin Media Sfa, National Westminster Bank PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Virgin Media Sfa, National Westminster Bank PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.776%, 10/15/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.776%, 10/15/31(B) | 1000 | 999 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ziggo Financing Partnership, Term Loan I Facility | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ziggo Financing Partnership, Term Loan I Facility |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.765%, LIBOR + 2.500%, 01/22/27(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.765%, LIBOR + 2.500%, 01/22/27(B) | 845 | 842 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Broadcasting and Entertainment** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Broadcasting and Entertainment** |  | 8027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Buildings and Real Estate [0.8%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Buildings and Real Estate [0.8%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Buildings and Real Estate [0.8%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Buildings and Real Estate [0.8%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amentum Holdings, Inc., Initial Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amentum Holdings, Inc., Initial Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.413%, CME Term SOFR + 2.250%, 09/29/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.413%, CME Term SOFR + 2.250%, 09/29/31(B) | 788 | 787 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 50

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Value (000) | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Apollo Commercial Real Estate Finance, Inc., Initial Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Apollo Commercial Real Estate Finance, Inc., Initial Term Loan, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.400%, CME Term SOFR + 3.250%, 06/13/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.400%, CME Term SOFR + 3.250%, 06/13/30(B) | 489 | $| 491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Blackstone Mortgage Trust, Inc., Term B-6 Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Blackstone Mortgage Trust, Inc., Term B-6 Loan, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.163%, CME Term SOFR + 3.000%, 12/10/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.163%, CME Term SOFR + 3.000%, 12/10/30(B) | 557 |  | 559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Blackstone Mortgage Trust, Inc., Term B-7 Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Blackstone Mortgage Trust, Inc., Term B-7 Loan, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.663%, CME Term SOFR + 2.500%, 05/09/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.663%, CME Term SOFR + 2.500%, 05/09/29(B) | 73 |  | 72 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Construction Partners, Inc., Closing Date Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Construction Partners, Inc., Closing Date Loan, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.663%, CME Term SOFR + 2.500%, 11/03/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.663%, CME Term SOFR + 2.500%, 11/03/31(B) | 417 |  | 418 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Covia Holdings LLC, 2025 Refinancing Initial Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Covia Holdings LLC, 2025 Refinancing Initial Term Loan, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.948%, CME Term SOFR + 2.750%, 02/26/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.948%, CME Term SOFR + 2.750%, 02/26/32(B) | 405 |  | 406 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Crown Subsea Communications Holding, Inc., 2025 Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Crown Subsea Communications Holding, Inc., 2025 Term Loan, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.663%, CME Term SOFR + 3.500%, 01/30/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.663%, CME Term SOFR + 3.500%, 01/30/31(B) | 1089 |  | 1095 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Delachaux Group SAS, 2024 Incremental Facility, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Delachaux Group SAS, 2024 Incremental Facility, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.276%, Euribor + 3.250%, 04/16/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.276%, Euribor + 3.250%, 04/16/29(B) | 922 |  | 1092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forest City Enterprises, L.P., Replacement Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forest City Enterprises, L.P., Replacement Term Loan, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.778%, CME Term SOFR + 3.500%, 12/08/25(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.778%, CME Term SOFR + 3.500%, 12/08/25(B) | 1865 |  | 1856 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foundation Building Materials, Inc., 2025 Incremental Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foundation Building Materials, Inc., 2025 Incremental Term Loan, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.500%, PRIME + 4.250%, 01/29/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.500%, PRIME + 4.250%, 01/29/31(B) | 354 |  | 355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LSF10 XL Investments S.a r.l, Facility B5, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LSF10 XL Investments S.a r.l, Facility B5, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, Euribor + 4.750%, 04/12/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750%, Euribor + 4.750%, 04/12/28(B) | 965 | $| 1119 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oscar AcquisitionCo, LLC, Term B Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oscar AcquisitionCo, LLC, Term B Loan, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.252%, CME Term SOFR + 4.250%, 04/29/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.252%, CME Term SOFR + 4.250%, 04/29/29(B) | 639 |  | 596 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pique Bidco, S.L.U., Facility B3, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pique Bidco, S.L.U., Facility B3, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.588%, Euribor + 3.675%, 12/18/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.588%, Euribor + 3.675%, 12/18/30(B) | 1000 |  | 1178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Platea (BC) Bidco AB, DDTL Facility, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Platea (BC) Bidco AB, DDTL Facility, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, Euribor + 3.500%, 04/03/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, Euribor + 3.500%, 04/03/31(B) | 167 |  | 197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Platea (BC) Bidco AB, Facility B, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Platea (BC) Bidco AB, Facility B, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, Euribor + 3.500%, 04/03/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, Euribor + 3.500%, 04/03/31(B) | 833 |  | 984 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quikrete Holdings, Inc., Tranche B-3 Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quikrete Holdings, Inc., Tranche B-3 Term Loan, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.413%, CME Term SOFR + 2.250%, 02/10/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.413%, CME Term SOFR + 2.250%, 02/10/32(B) | 687 |  | 686 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Smyrna Ready Mix Concrete, LLC, 2025 Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Smyrna Ready Mix Concrete, LLC, 2025 Term Loan, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.166%, CME Term SOFR + 3.000%, 04/02/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.166%, CME Term SOFR + 3.000%, 04/02/29(B) | 511 |  | 511 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vita BidCo SARL, Facility B1, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vita BidCo SARL, Facility B1, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.784%, Euribor + 3.750%, 09/11/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.784%, Euribor + 3.750%, 09/11/31(B) | 1000 |  | 1179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Buildings and Real Estate** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Buildings and Real Estate** |  |  | 13581 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Business Equipment & Services [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Business Equipment & Services [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Business Equipment & Services [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Business Equipment & Services [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Business Equipment & Services [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Emerald Expo 8/25 TLB, | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Emerald Expo 8/25 TLB, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.413%, 08/13/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.413%, 08/13/32(B) | 590 |  | 592 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Cargo Transport [0.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Cargo Transport [0.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Cargo Transport [0.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Cargo Transport [0.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Cargo Transport [0.6%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AIT Worldwide Logistics Holdings, Inc., Initial Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AIT Worldwide Logistics Holdings, Inc., Initial Term Loan, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.255%, CME Term SOFR + 4.000%, 04/08/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.255%, CME Term SOFR + 4.000%, 04/08/30(B) | 367 |  | 368 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 51

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Value (000) | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Boluda Towage, S.L.U., Facility B3, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Boluda Towage, S.L.U., Facility B3, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.413%, Euribor + 3.500%, 01/31/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.413%, Euribor + 3.500%, 01/31/30(B) | 1000 | $| 1181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colossus AcquireCo LLC, Initial Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colossus AcquireCo LLC, Initial Term Loan, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.870%, SOFR + 1.750%, 07/30/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.870%, SOFR + 1.750%, 07/30/32(B) | 400 |  | 398 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dynasty Acquisition Co., Inc., Initial Term B-1 Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dynasty Acquisition Co., Inc., Initial Term B-1 Loan, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.163%, CME Term SOFR + 2.000%, 10/31/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.163%, CME Term SOFR + 2.000%, 10/31/31(B) | 572 |  | 572 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dynasty Acquisition Co., Inc., Initial Term B-2 Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dynasty Acquisition Co., Inc., Initial Term B-2 Loan, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.163%, CME Term SOFR + 2.000%, 10/31/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.163%, CME Term SOFR + 2.000%, 10/31/31(B) | 217 |  | 217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Edge Finco PLC, Additional Facility B1, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Edge Finco PLC, Additional Facility B1, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.526%, Euribor + 3.500%, 08/22/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.526%, Euribor + 3.500%, 08/22/31(B) | 1000 |  | 1181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GN Loanco, LLC, Term B Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GN Loanco, LLC, Term B Loan, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.810%, CME Term SOFR + 4.500%, 12/19/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.810%, CME Term SOFR + 4.500%, 12/19/30(B) | 478 |  | 477 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Radar Bidco SARL, Facility B3 (EUR), 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Radar Bidco SARL, Facility B3 (EUR), 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.478%, Euribor + 3.500%, 04/04/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.478%, Euribor + 3.500%, 04/04/31(B) | 1000 |  | 1180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ramudden Global (Group) GmbH, Facility B4, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ramudden Global (Group) GmbH, Facility B4, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.389%, Euribor + 3.500%, 12/10/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.389%, Euribor + 3.500%, 12/10/29(B) | 1000 |  | 1173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rand Parent, LLC, 2025 Refinancing Term B Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rand Parent, LLC, 2025 Refinancing Term B Loan, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.002%, CME Term SOFR + 3.000%, 03/17/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.002%, CME Term SOFR + 3.000%, 03/17/30(B) | 1574 |  | 1566 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rubix Group Finco Limited, Extended Facility B Additional Facility, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rubix Group Finco Limited, Extended Facility B Additional Facility, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.083%, Euribor + 4.000%, 09/30/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.083%, Euribor + 4.000%, 09/30/28(B) | 1000 |  | 1181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Verde Purchaser, LLC, Initial Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Verde Purchaser, LLC, Initial Term Loan, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.002%, CME Term SOFR + 4.000%, 11/30/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.002%, CME Term SOFR + 4.000%, 11/30/30(B) | 470 | $| 465 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Cargo Transport** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Cargo Transport** |  |  | 9959 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Chemicals [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Chemicals [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Chemicals [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Chemicals [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Chemicals [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Styrolution 1/20 (USD) TLB, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Styrolution 1/20 (USD) TLB, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.263%, 12/08/25(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.263%, 12/08/25(B) | 526 |  | 506 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Chemicals, Plastics and Rubber [0.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Chemicals, Plastics and Rubber [0.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Chemicals, Plastics and Rubber [0.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Chemicals, Plastics and Rubber [0.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Chemicals, Plastics and Rubber [0.6%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ARC Falcon I Inc., Initial Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ARC Falcon I Inc., Initial Term Loan, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.763%, CME Term SOFR + 3.500%, 09/30/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.763%, CME Term SOFR + 3.500%, 09/30/28(B) | 1928 |  | 1928 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bakelite US Holdco, Inc., Initial Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bakelite US Holdco, Inc., Initial Loan, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.752%, CME Term SOFR + 3.750%, 12/23/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.752%, CME Term SOFR + 3.750%, 12/23/31(B) | 997 |  | 995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chemours Company, The, Tranche B-3 US$ Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chemours Company, The, Tranche B-3 US$ Term Loan, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.163%, CME Term SOFR + 3.000%, 08/18/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.163%, CME Term SOFR + 3.000%, 08/18/28(B) | 443 |  | 442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fortis 333, Inc., Euro Term B Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fortis 333, Inc., Euro Term B Loan, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, Euribor + 3.750%, 03/29/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, Euribor + 3.750%, 03/29/32(B) | 1000 |  | 1165 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hexion Holdings Corporation, 2024 Refinancing Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hexion Holdings Corporation, 2024 Refinancing Term Loan, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.136%, CME Term SOFR + 4.000%, 03/15/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.136%, CME Term SOFR + 4.000%, 03/15/29(B) | 374 |  | 374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hexion Holdings Corporation, Initial Term Loan, 2nd Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hexion Holdings Corporation, Initial Term Loan, 2nd Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.701%, CME Term SOFR + 7.438%, 03/15/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.701%, CME Term SOFR + 7.438%, 03/15/30(B) | 607 |  | 598 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ineos Quattro Holdings UK Limited, 2029 Tranche B Dollar Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ineos Quattro Holdings UK Limited, 2029 Tranche B Dollar Term Loan, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.513%, CME Term SOFR + 4.250%, 04/02/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.513%, CME Term SOFR + 4.250%, 04/02/29(B) | 512 |  | 461 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 52

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ineos Quattro Holdings UK Limited, 2031 Tranche B Dollar Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ineos Quattro Holdings UK Limited, 2031 Tranche B Dollar Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.413%, CME Term SOFR + 4.250%, 10/07/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.413%, CME Term SOFR + 4.250%, 10/07/31(B) | $109 | $94 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ineos US Finance LLC, 2031 Dollar Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ineos US Finance LLC, 2031 Dollar Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.163%, CME Term SOFR + 3.000%, 02/07/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.163%, CME Term SOFR + 3.000%, 02/07/31(B) | 1779 | 1592 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Natgasoline LLC, 2025 Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Natgasoline LLC, 2025 Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.502%, CME Term SOFR + 5.500%, 03/29/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.502%, CME Term SOFR + 5.500%, 03/29/30(B) | 548 | 553 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rain Carbon Gmbh TL, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rain Carbon Gmbh TL, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.023%, 08/01/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.023%, 08/01/30(B) | 1000 | 1172 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sirona Bidco, J.P. Morgan Se | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sirona Bidco, J.P. Morgan Se |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.554%, 10/25/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.554%, 10/25/28(B) | 1000 | 565 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trinseo Materials Operating S.C.A., 2021 Incremental Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trinseo Materials Operating S.C.A., 2021 Incremental Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.960%, CME Term SOFR + 2.500%, 05/03/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.960%, CME Term SOFR + 2.500%, 05/03/28(B) | 732 | 210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Chemicals, Plastics and Rubber** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Chemicals, Plastics and Rubber** |  | 10149 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Consumer Durables [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Consumer Durables [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Consumer Durables [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Consumer Durables [0.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Justrite 6/19 Cov-Lite TL, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Justrite 6/19 Cov-Lite TL, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.916%, 12/20/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.916%, 12/20/30(B) | 1149 | 1148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Justrite 6/19 Cov-Lite, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Justrite 6/19 Cov-Lite, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.916%, 06/28/26(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.916%, 06/28/26(B) | 9 | 8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Durables** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Durables** |  | 1156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Consumer Products [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Consumer Products [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Consumer Products [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Consumer Products [0.2%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stiga C Sa TL, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stiga C Sa TL, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.292%, 12/10/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.292%, 12/10/30(B) | 1604 | 1839 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tarkett Partn TL, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tarkett Partn TL, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.730%, 05/24/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.730%, 05/24/32(B) | 1000 | 1179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Products** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Products** |  | 3018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Containers, Packaging and Glass [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Containers, Packaging and Glass [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Containers, Packaging and Glass [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Containers, Packaging and Glass [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kleopatra Finco S.a r.l., Facility B (EUR), 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kleopatra Finco S.a r.l., Facility B (EUR), 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.782%, EURIBOR + 4.725%, 02/12/26(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.782%, EURIBOR + 4.725%, 02/12/26(B) | $1000 | $649 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kleopatra Fincog TL, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kleopatra Fincog TL, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.879%, 02/25/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.879%, 02/25/28(B) | 108 | 114 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Containers, Packaging and Glass** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Containers, Packaging and Glass** |  | 763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Diversified Natural Resources, Precious Metals and Minerals [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Diversified Natural Resources, Precious Metals and Minerals [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Diversified Natural Resources, Precious Metals and Minerals [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Diversified Natural Resources, Precious Metals and Minerals [0.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ahlstrom-Munksjo Holding 3 Oy, Additional Facility B1 (USD), 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ahlstrom-Munksjo Holding 3 Oy, Additional Facility B1 (USD), 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.513%, CME Term SOFR + 4.250%, 05/23/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.513%, CME Term SOFR + 4.250%, 05/23/30(B) | 15 | 15 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ahlstrom-Munksjo Holding 3 Oy, Facility B (USD), 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ahlstrom-Munksjo Holding 3 Oy, Facility B (USD), 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.263%, CME Term SOFR + 4.000%, 02/04/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.263%, CME Term SOFR + 4.000%, 02/04/28(B) | 791 | 788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Domtar Corporation, Initial Term Loan 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Domtar Corporation, Initial Term Loan 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.778%, LIBOR + 5.500%, 09/14/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.778%, LIBOR + 5.500%, 09/14/28(B) | 364 | 333 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Glatfelter Corporation, Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Glatfelter Corporation, Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.449%, CME Term SOFR + 4.250%, 11/04/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.449%, CME Term SOFR + 4.250%, 11/04/31(B) | 508 | 503 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mativ Holdings, Inc., Term B Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mativ Holdings, Inc., Term B Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.028%, CME Term SOFR + 3.750%, 04/20/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.028%, CME Term SOFR + 3.750%, 04/20/28(B) | 508 | 503 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Diversified Natural Resources, Precious Metals and Minerals** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Diversified Natural Resources, Precious Metals and Minerals** |  | 2142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Diversified/Conglomerate Manufacturing [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Diversified/Conglomerate Manufacturing [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Diversified/Conglomerate Manufacturing [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Diversified/Conglomerate Manufacturing [0.2%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dedalus Finance GmbH, Extended Senior Facility B2, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dedalus Finance GmbH, Extended Senior Facility B2, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.783%, Euribor + 3.750%, 05/04/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.783%, Euribor + 3.750%, 05/04/30(B) | 1000 | 1179 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 53

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Froneri Intl TL, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Froneri Intl TL, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 07/22/32(F) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 07/22/32(F) | $1000 | $1175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; R&R Ice Cream/Froneri 7/25 (USD) TL, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; R&R Ice Cream/Froneri 7/25 (USD) TL, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 07/16/32(F) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 07/16/32(F) | 455 | 454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Diversified/Conglomerate Manufacturing** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Diversified/Conglomerate Manufacturing** |  | 2808 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Diversified/Conglomerate Service [1.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Diversified/Conglomerate Service [1.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Diversified/Conglomerate Service [1.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Diversified/Conglomerate Service [1.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Apex Group Treasury Limited, 2025 Refinancing USD Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Apex Group Treasury Limited, 2025 Refinancing USD Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.755%, CME Term SOFR + 3.500%, 02/27/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.755%, CME Term SOFR + 3.500%, 02/27/32(B) | 750 | 732 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cengage Learning, Inc., 2024 Refinancing Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cengage Learning, Inc., 2024 Refinancing Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.698%, CME Term SOFR + 3.500%, 03/24/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.698%, CME Term SOFR + 3.500%, 03/24/31(B) | 336 | 335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CTEC III GmbH, Facility B, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CTEC III GmbH, Facility B, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.782%, EURIBOR + 3.750%, 03/16/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.782%, EURIBOR + 3.750%, 03/16/29(B) | 1000 | 1173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Emerald 2 Limited, Initial Term B-2 Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Emerald 2 Limited, Initial Term B-2 Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, EURIBOR + 3.750%, 07/12/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, EURIBOR + 3.750%, 07/12/28(B) | 1000 | 1173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ensono, Inc., Initial Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ensono, Inc., Initial Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.278%, CME Term SOFR + 4.000%, 05/26/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.278%, CME Term SOFR + 4.000%, 05/26/28(B) | 687 | 688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Inspired Finco Holdings Limited, Facility B6(A), 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Inspired Finco Holdings Limited, Facility B6(A), 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.163%, Euribor + 3.250%, 02/28/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.163%, Euribor + 3.250%, 02/28/31(B) | 1000 | 1178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Leia Finco US LLC, Initial Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Leia Finco US LLC, Initial Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.570%, CME Term SOFR + 3.250%, 10/09/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.570%, CME Term SOFR + 3.250%, 10/09/31(B) | 806 | 805 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Medline Borrower, LP, 2030 Refinancing Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Medline Borrower, LP, 2030 Refinancing Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.163%, CME Term SOFR + 2.000%, 10/23/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.163%, CME Term SOFR + 2.000%, 10/23/30(B) | 778 | 777 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mermaid Bidco Inc., Facility B (USD), 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mermaid Bidco Inc., Facility B (USD), 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.571%, CME Term SOFR + 3.250%, 07/03/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.571%, CME Term SOFR + 3.250%, 07/03/31(B) | $1070 | $1068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NAB Holdings, LLC, 2025 Refinancing Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NAB Holdings, LLC, 2025 Refinancing Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.502%, CME Term SOFR + 2.500%, 11/23/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.502%, CME Term SOFR + 2.500%, 11/23/28(B) | 507 | 490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Neon Maple Purchaser Inc., First Amendment Tranche B-1 Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Neon Maple Purchaser Inc., First Amendment Tranche B-1 Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.913%, CME Term SOFR + 2.750%, 11/17/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.913%, CME Term SOFR + 2.750%, 11/17/31(B) | 1025 | 1024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nielsen Consumer TL, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nielsen Consumer TL, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.913%, 10/04/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.913%, 10/04/30(B) | 884 | 1038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nielsen Consumer, Inc., Thirteenth Amendment Dollar Refinancing Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nielsen Consumer, Inc., Thirteenth Amendment Dollar Refinancing Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.663%, CME Term SOFR + 2.500%, 10/31/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.663%, CME Term SOFR + 2.500%, 10/31/30(B) | 703 | 701 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PHM Group Holding Oyj, Facility B, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PHM Group Holding Oyj, Facility B, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.461%, Euribor + 3.500%, 04/22/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.461%, Euribor + 3.500%, 04/22/32(B) | 1000 | 1176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Physician Partners, LLC, Initial Tranche B-1 Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Physician Partners, LLC, Initial Tranche B-1 Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.152%, CME Term SOFR + 4.000%, 12/31/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.152%, CME Term SOFR + 4.000%, 12/31/29(B) | 479 | 208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ren10 Holding AB, 2024 Facility B2, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ren10 Holding AB, 2024 Facility B2, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.826%, Euribor + 3.750%, 07/31/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.826%, Euribor + 3.750%, 07/31/30(B) | 1000 | 1183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tackle S.a r.l., Facility B2, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tackle S.a r.l., Facility B2, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.368%, Euribor + 3.250%, 05/22/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.368%, Euribor + 3.250%, 05/22/28(B) | 1000 | 1177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TRC Companies LLC, 2025 Refinancing Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TRC Companies LLC, 2025 Refinancing Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.163%, CME Term SOFR + 3.000%, 12/08/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.163%, CME Term SOFR + 3.000%, 12/08/28(B) | 730 | 730 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 54

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Venga Finance S.a r.l., 2025 Incremental Dollar Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Venga Finance S.a r.l., 2025 Incremental Dollar Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.210%, CME Term SOFR + 3.750%, 06/28/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.210%, CME Term SOFR + 3.750%, 06/28/29(B) | $864 | $865 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vestis Corporation , Term B-1 Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vestis Corporation , Term B-1 Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.448%, CME Term SOFR + 2.250%, 02/22/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.448%, CME Term SOFR + 2.250%, 02/22/31(B) | 1278 | 1199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ZF Invest, Additional Senior Term Facility 2, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ZF Invest, Additional Senior Term Facility 2, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.751%, Euribor + 3.750%, 07/12/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.751%, Euribor + 3.750%, 07/12/31(B) | 1000 | 1180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Diversified/Conglomerate Service** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Diversified/Conglomerate Service** |  | 18900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Ecological [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Ecological [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Ecological [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Ecological [0.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consolidated Energy Finance S.A., 2024 Incremental Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consolidated Energy Finance S.A., 2024 Incremental Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.663%, CME Term SOFR + 4.500%, 11/15/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.663%, CME Term SOFR + 4.500%, 11/15/30(B) | 1088 | 1015 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pasadena Performance Products, LLC, 2025-1 Repricing Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pasadena Performance Products, LLC, 2025-1 Repricing Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.252%, CME Term SOFR + 3.250%, 02/27/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.252%, CME Term SOFR + 3.250%, 02/27/32(B) | 478 | 478 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Ecological** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Ecological** |  | 1493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Electric Utilities [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Electric Utilities [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Electric Utilities [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Electric Utilities [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bayonne Energy 9/25 Cov-Lite TLB, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bayonne Energy 9/25 Cov-Lite TLB, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 09/24/32(F) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 09/24/32(F) | 415 | 414 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Electronics [0.8%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Electronics [0.8%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Electronics [0.8%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Electronics [0.8%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Adeia Inc., Initial Term B Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Adeia Inc., Initial Term B Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.663%, CME Term SOFR + 2.500%, 06/08/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.663%, CME Term SOFR + 2.500%, 06/08/28(B) | 903 | 906 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AI Silk Midco Limited, Facility B, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AI Silk Midco Limited, Facility B, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.089%, Euribor + 5.000%, 03/04/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.089%, Euribor + 5.000%, 03/04/31(B) | 500 | 581 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aretec Group, Inc. (fka RCS Capital Corporation), Term B-3 Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aretec Group, Inc. (fka RCS Capital Corporation), Term B-3 Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.663%, CME Term SOFR + 3.500%, 08/09/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.663%, CME Term SOFR + 3.500%, 08/09/30(B) | $955 | $955 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Boxer Parent Company Inc., 2031 Replacement Dollar Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Boxer Parent Company Inc., 2031 Replacement Dollar Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.199%, CME Term SOFR + 3.000%, 07/30/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.199%, CME Term SOFR + 3.000%, 07/30/31(B) | 772 | 770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CACI International Inc, Tranche B Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CACI International Inc, Tranche B Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.913%, CME Term SOFR + 1.750%, 10/30/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.913%, CME Term SOFR + 1.750%, 10/30/31(B) | 392 | 392 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Camelot U.S. Acquisition LLC, Amendment No. 6 Refinancing Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Camelot U.S. Acquisition LLC, Amendment No. 6 Refinancing Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.913%, CME Term SOFR + 2.750%, 01/31/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.913%, CME Term SOFR + 2.750%, 01/31/31(B) | 280 | 278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Camelot U.S. Acquisition LLC, Amendment No. 7 Incremental Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Camelot U.S. Acquisition LLC, Amendment No. 7 Incremental Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.413%, CME Term SOFR + 3.250%, 01/31/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.413%, CME Term SOFR + 3.250%, 01/31/31(B) | 220 | 220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cloud Software Group, Inc., Tenth Amendment Tranche B-1 Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cloud Software Group, Inc., Tenth Amendment Tranche B-1 Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.252%, CME Term SOFR + 3.250%, 08/13/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.252%, CME Term SOFR + 3.250%, 08/13/32(B) | 1020 | 1023 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clover Holdings 2, LLC, Initial Floating Rate Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clover Holdings 2, LLC, Initial Floating Rate Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.942%, CME Term SOFR + 3.750%, 12/09/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.942%, CME Term SOFR + 3.750%, 12/09/31(B) | 489 | 489 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Directv Financing 2/25 Cov-Lite TLB, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Directv Financing 2/25 Cov-Lite TLB, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.808%, 02/06/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.808%, 02/06/32(B) | 379 | 370 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Evercommerce Solutions Inc., Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Evercommerce Solutions Inc., Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.413%, CME Term SOFR + 2.250%, 07/07/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.413%, CME Term SOFR + 2.250%, 07/07/31(B) | 389 | 388 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 55

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Value (000) | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KnowBe4, Inc., Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KnowBe4, Inc., Term Loan, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.068%, CME Term SOFR + 3.750%, 07/23/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.068%, CME Term SOFR + 3.750%, 07/23/32(B) | 330 | $| 330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MH Sub I, LLC (Micro Holding Corp.), 2023 May Incremental Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MH Sub I, LLC (Micro Holding Corp.), 2023 May Incremental Term Loan, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.252%, CME Term SOFR + 4.250%, 05/03/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.252%, CME Term SOFR + 4.250%, 05/03/28(B) | 112 |  | 107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MH Sub I, LLC (Micro Holding Corp.), 2024 December New Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MH Sub I, LLC (Micro Holding Corp.), 2024 December New Term Loan, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.413%, CME Term SOFR + 4.250%, 12/31/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.413%, CME Term SOFR + 4.250%, 12/31/31(B) | 158 |  | 145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Perforce Software, Inc., 2024-1 Refinancing Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Perforce Software, Inc., 2024-1 Refinancing Term Loan, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.913%, CME Term SOFR + 4.750%, 07/02/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.913%, CME Term SOFR + 4.750%, 07/02/29(B) | 139 |  | 128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Priority Holdings, LLC, 2025-1 Refinancing Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Priority Holdings, LLC, 2025-1 Refinancing Term Loan, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.913%, CME Term SOFR + 3.750%, 07/30/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.913%, CME Term SOFR + 3.750%, 07/30/32(B) | 920 |  | 921 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rackspace Finance, LLC, Term B Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rackspace Finance, LLC, Term B Loan, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.040%, CME Term SOFR + 2.750%, 05/15/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.040%, CME Term SOFR + 2.750%, 05/15/28(B) | 1304 |  | 578 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Red Planet Borrower, LLC, Fourth Amendment Incremental Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Red Planet Borrower, LLC, Fourth Amendment Incremental Term Loan, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.163%, CME Term SOFR + 4.000%, 09/08/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.163%, CME Term SOFR + 4.000%, 09/08/32(B) | 790 |  | 768 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sabre GLBL Inc., 2021 Other Term B-1 Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sabre GLBL Inc., 2021 Other Term B-1 Loan, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.778%, CME Term SOFR + 3.500%, 12/17/27(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.778%, CME Term SOFR + 3.500%, 12/17/27(B) | 294 |  | 277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sabre GLBL Inc., 2021 Other Term B-2 Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sabre GLBL Inc., 2021 Other Term B-2 Loan, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.778%, CME Term SOFR + 3.500%, 12/17/27(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.778%, CME Term SOFR + 3.500%, 12/17/27(B) | 197 |  | 186 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sabre GLBL Inc., 2022 Other Term B Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sabre GLBL Inc., 2022 Other Term B Loan, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.513%, CME Term SOFR + 4.250%, 06/30/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.513%, CME Term SOFR + 4.250%, 06/30/28(B) | 227 | $| 211 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sabre GLBL Inc., 2022 Term B-2 Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sabre GLBL Inc., 2022 Term B-2 Loan, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.263%, CME Term SOFR + 5.000%, 06/30/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.263%, CME Term SOFR + 5.000%, 06/30/28(B) | 183 |  | 171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sanmina 7/25 TLB, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sanmina 7/25 TLB, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 09/10/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 09/10/32(B) | 375 |  | 374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sunrise Financing Partnership, Facility AAA, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sunrise Financing Partnership, Facility AAA, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.691%, CME Term SOFR + 2.500%, 02/15/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.691%, CME Term SOFR + 2.500%, 02/15/32(B) | 608 |  | 606 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UKG Inc., 2024 Refinancing Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UKG Inc., 2024 Refinancing Term Loan, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.810%, CME Term SOFR + 2.500%, 02/10/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.810%, CME Term SOFR + 2.500%, 02/10/31(B) | 995 |  | 994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Victra Holdings, LLC, Fifth Amendment Incremental Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Victra Holdings, LLC, Fifth Amendment Incremental Term Loan, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.752%, CME Term SOFR + 3.750%, 03/31/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.752%, CME Term SOFR + 3.750%, 03/31/29(B) | 875 |  | 876 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Electronics** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Electronics** |  |  | 13044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Energy [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Energy [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Energy [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Energy [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Energy [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chart Industries/Howden 6/24 TLB, Term Loan B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chart Industries/Howden 6/24 TLB, Term Loan B |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.792%, 09/11/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.792%, 09/11/31(B) | 505 |  | 507 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Finance (including structured products) [1.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Finance (including structured products) [1.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Finance (including structured products) [1.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Finance (including structured products) [1.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Finance (including structured products) [1.5%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Blackhawk Network Holdings, Inc., Additional Term B-2 Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Blackhawk Network Holdings, Inc., Additional Term B-2 Loan, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.163%, CME Term SOFR + 4.000%, 03/12/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.163%, CME Term SOFR + 4.000%, 03/12/29(B) | 588 |  | 589 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cep V Invt 23 Sa Rl, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cep V Invt 23 Sa Rl, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.129%, 03/16/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.129%, 03/16/29(B) | 1000 |  | 1184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colosseum Dental TL, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colosseum Dental TL, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 10/27/25(F) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 10/27/25(F) | 1000 |  | 1175 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 56

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Concorde Lux TL, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Concorde Lux TL, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.809%, 03/30/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.809%, 03/30/29(B) | $1000 | $1167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cornerstone Generation, LLC, Term Loan B, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cornerstone Generation, LLC, Term Loan B, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.476%, CME Term SOFR + 3.250%, 08/11/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.476%, CME Term SOFR + 3.250%, 08/11/32(B) | 535 | 538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CPPIB OVM Member U.S. LLC, Initial Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CPPIB OVM Member U.S. LLC, Initial Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.502%, CME Term SOFR + 2.500%, 08/20/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.502%, CME Term SOFR + 2.500%, 08/20/31(B) | 564 | 565 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DRW Holdings, LLC, 2024 Refinancing Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DRW Holdings, LLC, 2024 Refinancing Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.502%, CME Term SOFR + 3.500%, 06/26/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.502%, CME Term SOFR + 3.500%, 06/26/31(B) | 901 | 898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dynamo Midco B.V., Facility B (USD), 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dynamo Midco B.V., Facility B (USD), 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.780%, CME Term SOFR + 3.500%, 09/30/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.780%, CME Term SOFR + 3.500%, 09/30/31(B) | 506 | 507 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EIG Management Company, LLC, Term Loan B, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EIG Management Company, LLC, Term Loan B, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.166%, CME Term SOFR + 5.000%, 05/17/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.166%, CME Term SOFR + 5.000%, 05/17/29(B) | 672 | 668 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EMG Utica Midstream Holdings, LLC, Initial Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EMG Utica Midstream Holdings, LLC, Initial Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.002%, CME Term SOFR + 4.000%, 04/01/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.002%, CME Term SOFR + 4.000%, 04/01/30(B) | 483 | 483 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Eagle Holdings, Inc., Delayed Draw Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Eagle Holdings, Inc., Delayed Draw Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.750%, UNFND + 1.750%, 08/16/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.750%, UNFND + 1.750%, 08/16/32(B) | 176 | 175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Eagle Holdings, Inc., Initial Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Eagle Holdings, Inc., Initial Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.711%, CME Term SOFR + 3.500%, 08/16/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.711%, CME Term SOFR + 3.500%, 08/16/32(B) | 1034 | 1022 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FNZ Group Entities Limited, Initial USD Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FNZ Group Entities Limited, Initial USD Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.321%, CME Term SOFR + 5.000%, 11/05/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.321%, CME Term SOFR + 5.000%, 11/05/31(B) | 758 | 606 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Greenwich BidCo Limited, Facility B, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Greenwich BidCo Limited, Facility B, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.267%, Euribor + 4.250%, 07/30/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.267%, Euribor + 4.250%, 07/30/32(B) | $1000 | $1185 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HDI Aerospace Intermediate Holding III Corporation, Initial Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HDI Aerospace Intermediate Holding III Corporation, Initial Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.828%, CME Term SOFR + 4.500%, 02/11/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.828%, CME Term SOFR + 4.500%, 02/11/32(B) | 498 | 498 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hudson River Trading LLC, Term B-1 Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hudson River Trading LLC, Term B-1 Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.150%, CME Term SOFR + 3.000%, 03/18/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.150%, CME Term SOFR + 3.000%, 03/18/30(B) | 754 | 755 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hunterstown Generation, LLC, Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hunterstown Generation, LLC, Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.502%, CME Term SOFR + 3.500%, 11/06/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.502%, CME Term SOFR + 3.500%, 11/06/31(B) | 466 | 467 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jefferies Finance LLC, Initial Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jefferies Finance LLC, Initial Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.924%, CME Term SOFR + 2.750%, 10/21/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.924%, CME Term SOFR + 2.750%, 10/21/31(B) | 551 | 550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jump Financial, LLC, Term B-1 Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jump Financial, LLC, Term B-1 Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.502%, CME Term SOFR + 3.500%, 02/26/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.502%, CME Term SOFR + 3.500%, 02/26/32(B) | 349 | 351 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lendingtree 8/25 Cov-Lite TL, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lendingtree 8/25 Cov-Lite TL, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.663%, 08/13/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.663%, 08/13/32(B) | 975 | 970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Modena Buyer LLC, Initial Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Modena Buyer LLC, Initial Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.808%, CME Term SOFR + 4.500%, 07/01/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.808%, CME Term SOFR + 4.500%, 07/01/31(B) | 586 | 578 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Opal Bidco Sas, Facility B2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Opal Bidco Sas, Facility B2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.252%, CME Term SOFR + 3.250%, 03/27/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.252%, CME Term SOFR + 3.250%, 03/27/32(B) | 1090 | 1092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Osaic Holdings, Inc., Initial Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Osaic Holdings, Inc., Initial Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.163%, CME Term SOFR + 3.000%, 07/30/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.163%, CME Term SOFR + 3.000%, 07/30/32(B) | 635 | 635 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Physician Partners 1/25 Third-Out Term Loan TLc, | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Physician Partners 1/25 Third-Out Term Loan TLc, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.651%, 12/31/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.651%, 12/31/29(B) | 299 | 58 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 57

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Value (000) | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; POP Bidco, Facility B, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; POP Bidco, Facility B, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.583%, Euribor + 4.500%, 11/26/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.583%, Euribor + 4.500%, 11/26/31(B) | 1000 | $| 1177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quirch Foods Holdings, LLC, 2022-1 Incremental Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quirch Foods Holdings, LLC, 2022-1 Incremental Term Loan, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.052%, CME Term SOFR + 4.750%, 10/27/27(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.052%, CME Term SOFR + 4.750%, 10/27/27(B) | 1004 |  | 983 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Russell Investments US Institutional Holdco, Inc., 2027 Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Russell Investments US Institutional Holdco, Inc., 2027 Term Loan, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.308%, CME Term SOFR + 5.000%, 05/30/27(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.308%, CME Term SOFR + 5.000%, 05/30/27(B) | 900 |  | 861 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Starwood Property Mortgage, L.L.C., Replacement Term B-5 Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Starwood Property Mortgage, L.L.C., Replacement Term B-5 Loan, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.163%, CME Term SOFR + 2.000%, 01/02/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.163%, CME Term SOFR + 2.000%, 01/02/30(B) | 859 |  | 858 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stonepeak Bayou 9/25 Holdco TL, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stonepeak Bayou 9/25 Holdco TL, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 09/22/32(F) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 09/22/32(F) | 230 |  | 229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stonepeak Nile Parent LLC, Initial Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stonepeak Nile Parent LLC, Initial Term Loan, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.079%, CME Term SOFR + 2.750%, 04/09/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.079%, CME Term SOFR + 2.750%, 04/09/32(B) | 430 |  | 430 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tate & Lyle/Primary Products/Primient 12/24 TLB, | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tate & Lyle/Primary Products/Primient 12/24 TLB, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.536%, 02/07/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.536%, 02/07/31(B) | 469 |  | 457 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Team Health Holdings, Inc., 2028 Refinancing Term Loan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Team Health Holdings, Inc., 2028 Refinancing Term Loan |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.796%, 01/02/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.796%, 01/02/30(B) | 579 |  | 577 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TIC Bidco Limited, Facility B3 (EUR), 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TIC Bidco Limited, Facility B3 (EUR), 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.774%, Euribor + 3.750%, 06/19/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.774%, Euribor + 3.750%, 06/19/31(B) | 1000 |  | 1181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VFH Parent LLC, Term B-2 Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VFH Parent LLC, Term B-2 Loan, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.663%, CME Term SOFR + 2.500%, 06/21/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.663%, CME Term SOFR + 2.500%, 06/21/31(B) | 340 |  | 340 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Villa Dutch Bidco B.V., Additional Facility B2, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Villa Dutch Bidco B.V., Additional Facility B2, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.159%, Euribor + 5.250%, 11/03/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.159%, Euribor + 5.250%, 11/03/29(B) | 1000 | $| 1138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Finance (including structured products)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Finance (including structured products)** |  |  | 24947 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Financial Services [0.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Financial Services [0.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Financial Services [0.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Financial Services [0.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Financial Services [0.4%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acropole TL, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acropole TL, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 10/31/29(F) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 10/31/29(F) | 192 |  | 226 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Albion Financing 3 TL, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Albion Financing 3 TL, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.024%, 06/24/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.024%, 06/24/32(B) | 1500 |  | 1769 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Finastra 7/25 (USD) Cov-Lite TL, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Finastra 7/25 (USD) Cov-Lite TL, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.038%, 07/27/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.038%, 07/27/29(B) | 580 |  | 577 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ion Platform 9/25 (USD) Cov-Lite TL, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ion Platform 9/25 (USD) Cov-Lite TL, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 09/24/32(F) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 09/24/32(F) | 750 |  | 743 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pax Holdco TL, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pax Holdco TL, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.036%, 11/24/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.036%, 11/24/28(B) | 1100 |  | 1299 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sigma Bidco Bv TLB-TL, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sigma Bidco Bv TLB-TL, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.291%, 07/03/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.291%, 07/03/31(B) | 1000 |  | 1314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Synechron 9/24 TLB, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Synechron 9/24 TLB, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.058%, 09/26/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.058%, 09/26/31(B) | 458 |  | 454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Financial Services** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Financial Services** |  |  | 6382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Financials [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Financials [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Financials [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Financials [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Financials [0.3%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Autokiniton Group/L&W (Agg) 1/24, 2024 Replacement Term B Loan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Autokiniton Group/L&W (Agg) 1/24, 2024 Replacement Term B Loan |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.278%, 08/02/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.278%, 08/02/29(B) | 797 |  | 788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Square 4/24 TLB, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Square 4/24 TLB, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.413%, 05/01/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.413%, 05/01/29(B) | 844 |  | 844 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Superannuation And Investments/Cfs 7/25, | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Superannuation And Investments/Cfs 7/25, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.163%, 02/07/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.163%, 02/07/28(B) | 751 |  | 754 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wsh Invts TL, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wsh Invts TL, 1st Lien |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.718%, 10/23/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.718%, 10/23/31(B) | 1000 |  | 1346 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zara Uk Midco Ltd, | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zara Uk Midco Ltd, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.820%, 06/12/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.820%, 06/12/29(B) | 845 |  | 867 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  |  | 4599 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 58

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Food & Beverage [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Food & Beverage [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Food & Beverage [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Food & Beverage [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Milk Specialties/Actus Nutrition 6/25 Cov-Lite TLB, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Milk Specialties/Actus Nutrition 6/25 Cov-Lite TLB, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.829%, 07/09/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.829%, 07/09/32(B) | $260 | $260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gaming [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gaming [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gaming [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Gaming [0.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Scientific Games Lottery, Db Ag New York Branch - Third Party | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Scientific Games Lottery, Db Ag New York Branch - Third Party |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.708%, 02/28/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.708%, 02/28/29(B) | 1000 | 1169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Government [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Government [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Government [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Government [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jpy Paris Club 01/10/28, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jpy Paris Club 01/10/28, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 02/11/32(D) (F) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 02/11/32(D) (F) | 150000 | 801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Healthcare [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Healthcare [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Healthcare [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Healthcare [0.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Inovie Group TL, Cib | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Inovie Group TL, Cib |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.980%, 03/29/27(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.980%, 03/29/27(B) | 1000 | 1019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sunrise Bidco Sarl, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sunrise Bidco Sarl, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.553%, 03/31/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.553%, 03/31/28(B) | 1000 | 1122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Healthcare** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Healthcare** |  | 2141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Healthcare, Education and Childcare [1.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Healthcare, Education and Childcare [1.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Healthcare, Education and Childcare [1.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Healthcare, Education and Childcare [1.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AHP Health Partners, Inc., 2025 Term B Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AHP Health Partners, Inc., 2025 Term B Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.413%, CME Term SOFR + 2.250%, 09/20/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.413%, CME Term SOFR + 2.250%, 09/20/32(B) | 415 | 416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Auris Luxembourg III S.a r.l., Facility B7, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Auris Luxembourg III S.a r.l., Facility B7, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.701%, Euribor + 3.750%, 02/28/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.701%, Euribor + 3.750%, 02/28/29(B) | 500 | 586 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bach Finance Limited, Fourteenth Amendment Dollar Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bach Finance Limited, Fourteenth Amendment Dollar Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.949%, CME Term SOFR + 2.750%, 01/09/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.949%, CME Term SOFR + 2.750%, 01/09/32(B) | 483 | 483 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Celeste BidCo B.V., Facility B2, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Celeste BidCo B.V., Facility B2, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.694%, Euribor + 3.750%, 07/20/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.694%, Euribor + 3.750%, 07/20/29(B) | 1000 | 1177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cheplapharm Arzneimittel GmbH, Facility B, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cheplapharm Arzneimittel GmbH, Facility B, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.026%, EURIBOR + 4.000%, 02/22/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.026%, EURIBOR + 4.000%, 02/22/29(B) | 1000 | 1163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chrome Bidco, Facility B, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chrome Bidco, Facility B, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.762%, EURIBOR + 3.700%, 06/30/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.762%, EURIBOR + 3.700%, 06/30/28(B) | $1500 | $1230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cidron Aida Finco S.A.R.L., First Additional Term Facility B, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cidron Aida Finco S.A.R.L., First Additional Term Facility B, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.163%, Euribor + 4.250%, 10/22/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.163%, Euribor + 4.250%, 10/22/31(B) | 500 | 585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cidron Atrium SE, Facility B1, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cidron Atrium SE, Facility B1, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.913%, EURIBOR + 5.000%, 05/22/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.913%, EURIBOR + 5.000%, 05/22/28(B) | 1500 | 1777 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Elsan SAS , Facility B6, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Elsan SAS , Facility B6, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, EURIBOR + 3.500%, 06/16/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, EURIBOR + 3.500%, 06/16/31(B) | 1000 | 1173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financiere Mendel, Additional Term Facility 2 (EUR), 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financiere Mendel, Additional Term Facility 2 (EUR), 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, Euribor + 3.000%, 11/08/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, Euribor + 3.000%, 11/08/30(B) | 1000 | 1176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GHD Verwaltung Gesundheits GMBH Deutschland, Facility B, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GHD Verwaltung Gesundheits GMBH Deutschland, Facility B, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.917%, EURIBOR + 4.000%, 11/15/27(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.917%, EURIBOR + 4.000%, 11/15/27(B) | 396 | 424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HomeVi, Additional Senior Term Facility 5, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HomeVi, Additional Senior Term Facility 5, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.776%, Euribor + 4.750%, 10/31/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.776%, Euribor + 4.750%, 10/31/29(B) | 500 | 588 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Houghton Mifflin Harcourt Company, Term B Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Houghton Mifflin Harcourt Company, Term B Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.513%, CME Term SOFR + 5.250%, 04/09/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.513%, CME Term SOFR + 5.250%, 04/09/29(B) | 303 | 270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Inmar Inc 06/25, | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Inmar Inc 06/25, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.663%, 12/23/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.663%, 12/23/30(B) | 590 | 587 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IVC Acquisition Ltd, Facility B11, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IVC Acquisition Ltd, Facility B11, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.029%, Euribor + 4.000%, 12/12/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.029%, Euribor + 4.000%, 12/12/28(B) | 500 | 589 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LGC Science Group Holdings Limited, Facility B3 (EUR), 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LGC Science Group Holdings Limited, Facility B3 (EUR), 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.026%, Euribor + 4.000%, 01/21/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.026%, Euribor + 4.000%, 01/21/30(B) | 1000 | 1175 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 59

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LifePoint Health, Inc. , 2024-1 Refinancing Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LifePoint Health, Inc. , 2024-1 Refinancing Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.068%, CME Term SOFR + 3.750%, 05/17/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.068%, CME Term SOFR + 3.750%, 05/17/31(B) | $1205 | $1202 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Medical Solutions Holdings, Inc., Initial Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Medical Solutions Holdings, Inc., Initial Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.908%, CME Term SOFR + 3.500%, 11/01/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.908%, CME Term SOFR + 3.500%, 11/01/28(B) | 889 | 305 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ramsay Generale de Sante, Incremental Facility B5, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ramsay Generale de Sante, Incremental Facility B5, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.245%, Euribor + 3.250%, 08/13/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.245%, Euribor + 3.250%, 08/13/31(B) | 1000 | 1176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Soliant Lower Intermediate, LLC, Initial Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Soliant Lower Intermediate, LLC, Initial Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.794%, CME Term SOFR + 3.750%, 07/18/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.794%, CME Term SOFR + 3.750%, 07/18/31(B) | 642 | 607 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Takecare Bidco, Additional Senior Term Facility B1, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Takecare Bidco, Additional Senior Term Facility B1, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, Euribor + 3.500%, 12/17/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, Euribor + 3.500%, 12/17/31(B) | 1000 | 1178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TEAM Services Group, LLC, 2022-1 Incremental Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TEAM Services Group, LLC, 2022-1 Incremental Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.408%, CME Term SOFR + 5.000%, 12/20/27(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.408%, CME Term SOFR + 5.000%, 12/20/27(B) | 278 | 277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Healthcare, Education and Childcare** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Healthcare, Education and Childcare** |  | 18144 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Hotels, Motels, Inns and Gaming [0.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Hotels, Motels, Inns and Gaming [0.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Hotels, Motels, Inns and Gaming [0.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Hotels, Motels, Inns and Gaming [0.4%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allwyn Entertainment Financing (US) LLC, Facility B2, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allwyn Entertainment Financing (US) LLC, Facility B2, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.329%, CME Term SOFR + 2.000%, 06/02/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.329%, CME Term SOFR + 2.000%, 06/02/31(B) | 1040 | 1037 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Casper Bidco SAS, Facility B6, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Casper Bidco SAS, Facility B6, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.663%, Euribor + 3.750%, 03/21/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.663%, Euribor + 3.750%, 03/21/31(B) | 1000 | 1172 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GBT US III LLC, Term B-1 Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GBT US III LLC, Term B-1 Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.814%, CME Term SOFR + 2.500%, 07/28/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.814%, CME Term SOFR + 2.500%, 07/28/31(B) | 427 | 427 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IGT Holding IV AB, B4 Incremental Facility, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IGT Holding IV AB, B4 Incremental Facility, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, Euribor + 3.250%, 08/29/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, Euribor + 3.250%, 08/29/31(B) | $1000 | $1180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LC Ahab US Bidco LLC, Second Amendment Incremental Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LC Ahab US Bidco LLC, Second Amendment Incremental Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.163%, CME Term SOFR + 3.000%, 05/01/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.163%, CME Term SOFR + 3.000%, 05/01/31(B) | 357 | 357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ontario Gaming GTA Limited Partnership, Term B Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ontario Gaming GTA Limited Partnership, Term B Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.240%, CME Term SOFR + 4.250%, 08/01/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.240%, CME Term SOFR + 4.250%, 08/01/30(B) | 568 | 554 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oravel Stays Limited, Initial Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oravel Stays Limited, Initial Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12.002%, CME Term SOFR + 8.000%, 01/08/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12.002%, CME Term SOFR + 8.000%, 01/08/30(B) | 1030 | 1057 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TripAdvisor, Inc., Initial Term B Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TripAdvisor, Inc., Initial Term B Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.913%, CME Term SOFR + 2.750%, 07/08/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.913%, CME Term SOFR + 2.750%, 07/08/31(B) | 832 | 812 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Hotels, Motels, Inns and Gaming** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Hotels, Motels, Inns and Gaming** |  | 6596 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Industrial Products [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Industrial Products [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Industrial Products [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Industrial Products [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wash Multifamily 8/25 TLB, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wash Multifamily 8/25 TLB, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.442%, 05/09/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.442%, 05/09/29(B) | 415 | 416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Industrial Services [0.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Industrial Services [0.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Industrial Services [0.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Industrial Services [0.4%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clean Harbors 9/25 TLB, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clean Harbors 9/25 TLB, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 09/24/32(F) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 09/24/32(F) | 480 | 481 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kidde Global 7/25 Lsf12 Crown, 2025 Refinancing Term | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kidde Global 7/25 Lsf12 Crown, 2025 Refinancing Term |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.663%, 07/23/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.663%, 07/23/32(B) | 374 | 374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Optimus Bidco TL, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Optimus Bidco TL, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 05/05/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 05/05/30(B) | 1000 | 1032 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shilton Bidco Ltd TL, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shilton Bidco Ltd TL, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.730%, 04/30/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.730%, 04/30/31(B) | 1000 | 1175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Techem Verwaltung TL, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Techem Verwaltung TL, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 08/15/30(F) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 08/15/30(F) | 1000 | 1181 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 60

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Titan/Mhi/Vigor Marine 9/25 Cov-Lite TL, | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Titan/Mhi/Vigor Marine 9/25 Cov-Lite TL, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.647%, 09/16/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.647%, 09/16/32(B) | $903 | $902 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TSG Solutions TL, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TSG Solutions TL, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 02/27/32(F) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 02/27/32(F) | 1000 | 1179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Turquoise Topco Limited 8/25 Cov-Lite TLB, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Turquoise Topco Limited 8/25 Cov-Lite TLB, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 11/01/30(F) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 11/01/30(F) | 310 | 310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Industrial Services** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Industrial Services** |  | 6634 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Industrials [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Industrials [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Industrials [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Industrials [0.3%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Traffic/Ats Consolidated 9/24 TLB, | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Traffic/Ats Consolidated 9/24 TLB, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.413%, 12/04/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.413%, 12/04/31(B) | 321 | 321 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Boels Top Bv TL, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Boels Top Bv TL, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.629%, 08/17/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.629%, 08/17/29(B) | 1500 | 1765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Euroports 1L, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Euroports 1L, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.049%, 11/30/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.049%, 11/30/30(B) | 980 | 1151 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Umami Bidco TL, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Umami Bidco TL, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.779%, 11/05/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.779%, 11/05/31(B) | 1000 | 1172 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | 4409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Information Technology [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Information Technology [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Information Technology [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Information Technology [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sitel Worldwide 7/21 (USD) Cov-Lite TL, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sitel Worldwide 7/21 (USD) Cov-Lite TL, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.028%, 01/20/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.028%, 01/20/29(B) | 972 | 485 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Insurance [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Insurance [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Insurance [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Insurance [0.3%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acrisure LLC TL B1 1L 0% 02/16/2027, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acrisure LLC TL B1 1L 0% 02/16/2027, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 09/17/32(F) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 09/17/32(F) | 1000 | 1178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asurion, LLC, New B-12 Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asurion, LLC, New B-12 Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.413%, CME Term SOFR + 4.250%, 09/19/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.413%, CME Term SOFR + 4.250%, 09/19/30(B) | 889 | 886 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asurion, LLC, New B-4 Term Loan, 2nd Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asurion, LLC, New B-4 Term Loan, 2nd Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.528%, CME Term SOFR + 5.250%, 01/20/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.528%, CME Term SOFR + 5.250%, 01/20/29(B) | 885 | 845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asurion, LLC, New Term B-13 Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asurion, LLC, New Term B-13 Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.413%, CME Term SOFR + 4.250%, 09/19/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.413%, CME Term SOFR + 4.250%, 09/19/30(B) | 1167 | 1159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DIOT-Siaci BidCo, Facility B, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DIOT-Siaci BidCo, Facility B, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, Euribor + 3.500%, 07/26/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, Euribor + 3.500%, 07/26/32(B) | $808 | $951 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Insurance** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Insurance** |  | 5019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **IT Services [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **IT Services [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **IT Services [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **IT Services [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Team Services 6/24 Incremental TLB, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Team Services 6/24 Incremental TLB, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.558%, 06/27/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.558%, 06/27/29(B) | 600 | 598 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Laboratory Supply Wholesaling [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Laboratory Supply Wholesaling [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Laboratory Supply Wholesaling [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Laboratory Supply Wholesaling [0.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Avantor Fdg TL, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Avantor Fdg TL, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 09/30/32(F) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 09/30/32(F) | 1000 | 1174 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Leisure Products [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Leisure Products [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Leisure Products [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Leisure Products [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Topgolf Callaway Brands Corp., Initial Term Loan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Topgolf Callaway Brands Corp., Initial Term Loan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.163%, 03/31/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.163%, 03/31/31(B) | 339 | 335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Leisure, Amusement, Motion Pictures, Entertainment [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Leisure, Amusement, Motion Pictures, Entertainment [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Leisure, Amusement, Motion Pictures, Entertainment [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Leisure, Amusement, Motion Pictures, Entertainment [0.2%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bingo/Amer Gaming/Playags 5/25 Cov-Lite TLB, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bingo/Amer Gaming/Playags 5/25 Cov-Lite TLB, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.751%, 05/17/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.751%, 05/17/30(B) | 500 | 499 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bowlmor Amf/Bowlero/Lucky Strike 9/25 Cov-Lite TLB, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bowlmor Amf/Bowlero/Lucky Strike 9/25 Cov-Lite TLB, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.385%, 09/10/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.385%, 09/10/32(B) | 345 | 335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fitness International, LLC, Term B Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fitness International, LLC, Term B Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.663%, CME Term SOFR + 4.500%, 02/12/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.663%, CME Term SOFR + 4.500%, 02/12/29(B) | 343 | 345 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vermaat TL, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vermaat TL, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.791%, 06/05/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.791%, 06/05/30(B) | 1000 | 1183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Voyager Parent, LLC, Term B Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Voyager Parent, LLC, Term B Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.752%, CME Term SOFR + 4.750%, 07/01/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.752%, CME Term SOFR + 4.750%, 07/01/32(B) | 600 | 601 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Leisure, Amusement, Motion Pictures, Entertainment** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Leisure, Amusement, Motion Pictures, Entertainment** |  | 2963 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 61

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Machinery (Non-Agriculture, Non-Construction and Non-Electronic) [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Machinery (Non-Agriculture, Non-Construction and Non-Electronic) [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Machinery (Non-Agriculture, Non-Construction and Non-Electronic) [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Machinery (Non-Agriculture, Non-Construction and Non-Electronic) [0.3%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A-AG US GSI Bidco, Inc., Initial Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A-AG US GSI Bidco, Inc., Initial Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.002%, CME Term SOFR + 5.000%, 10/31/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.002%, CME Term SOFR + 5.000%, 10/31/31(B) | $731 | $728 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alliance Laundry Systems LLC, Initial Term B Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alliance Laundry Systems LLC, Initial Term B Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.385%, CME Term SOFR + 2.250%, 08/19/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.385%, CME Term SOFR + 2.250%, 08/19/31(B) | 514 | 514 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allwyn TL, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allwyn TL, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.913%, 03/24/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.913%, 03/24/30(B) | 1000 | 1175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Beach Acquisition Bidco, LLC, Tranche B-1 Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Beach Acquisition Bidco, LLC, Tranche B-1 Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.308%, CME Term SOFR + 3.250%, 09/12/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.308%, CME Term SOFR + 3.250%, 09/12/32(B) | 305 | 306 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indicor, LLC, Tranche D Euro Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indicor, LLC, Tranche D Euro Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, Euribor + 3.500%, 11/22/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, Euribor + 3.500%, 11/22/29(B) | 980 | 1158 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MKS Instruments, Inc., 2025-1 Dollar Term B Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MKS Instruments, Inc., 2025-1 Dollar Term B Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.166%, CME Term SOFR + 2.000%, 08/17/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.166%, CME Term SOFR + 2.000%, 08/17/29(B) | 422 | 421 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MKS Instruments, Inc., 2025-1 Euro Term B Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MKS Instruments, Inc., 2025-1 Euro Term B Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.396%, Euribor + 2.500%, 08/17/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.396%, Euribor + 2.500%, 08/17/29(B) | 725 | 854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Primo Brands Corporation, 2025 Refinancing Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Primo Brands Corporation, 2025 Refinancing Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.252%, CME Term SOFR + 2.250%, 03/31/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.252%, CME Term SOFR + 2.250%, 03/31/28(B) | 508 | 508 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Machinery (Non-Agriculture, Non-Construction and Non-Electronic)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Machinery (Non-Agriculture, Non-Construction and Non-Electronic)** |  | 5664 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Manufacturing [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Manufacturing [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Manufacturing [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Manufacturing [0.2%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allegro Microsystems 1/25 Cov-Lite TLB, | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allegro Microsystems 1/25 Cov-Lite TLB, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.163%, 07/02/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.163%, 07/02/29(B) | 1151 | 1151 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Crown Equipment Corp 3/25 Cov-Lite TLB, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Crown Equipment Corp 3/25 Cov-Lite TLB, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.530%, 01/31/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.530%, 01/31/30(B) | $538 | $538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foley Products 3/24 TL, | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foley Products 3/24 TL, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.902%, 02/28/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.902%, 02/28/30(B) | 606 | 609 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lippert Components/Lci Industries 3/25 TLB, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lippert Components/Lci Industries 3/25 TLB, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.816%, 03/19/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.816%, 03/19/32(B) | 484 | 484 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Weber-Stephen 9/25 TLB, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Weber-Stephen 9/25 TLB, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 03/31/29(F) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 03/31/29(F) | 485 | 479 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Manufacturing** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Manufacturing** |  | 3261 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Media [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Media [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Media [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Media [0.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Team.Blue 7/25 TLB, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Team.Blue 7/25 TLB, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.370%, 10/15/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.370%, 10/15/31(B) | 334 | 334 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Thryv/Dex Media 4/24, Tlb 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Thryv/Dex Media 4/24, Tlb 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.913%, 05/01/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.913%, 05/01/31(B) | 152 | 152 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zephyr Midco, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zephyr Midco, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.473%, 12/31/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.473%, 12/31/29(B) | 1000 | 1346 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Media** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Media** |  | 1832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Medical Products & Services [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Medical Products & Services [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Medical Products & Services [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Medical Products & Services [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lifepoint Health 11/24 Incremental Cov-Lite, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lifepoint Health 11/24 Incremental Cov-Lite, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.660%, 03/22/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.660%, 03/22/31(B) | 393 | 391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Mining, Steel, Iron and Nonprecious Metals [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Mining, Steel, Iron and Nonprecious Metals [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Mining, Steel, Iron and Nonprecious Metals [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Mining, Steel, Iron and Nonprecious Metals [0.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AMG Advanced Metallurgical Group N.V., Initial Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AMG Advanced Metallurgical Group N.V., Initial Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.778%, CME Term SOFR + 3.500%, 11/30/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.778%, CME Term SOFR + 3.500%, 11/30/28(B) | 672 | 671 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New World Resources, | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New World Resources, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14.500%, 04/03/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14.500%, 04/03/28(B) | 1011 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oxbow Carbon LLC, Tranche B Term Loan (2023), 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oxbow Carbon LLC, Tranche B Term Loan (2023), 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.663%, CME Term SOFR + 3.500%, 05/10/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.663%, CME Term SOFR + 3.500%, 05/10/30(B) | 1125 | 1124 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Mining, Steel, Iron and Nonprecious Metals** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Mining, Steel, Iron and Nonprecious Metals** |  | 1795 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 62

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Oil and Gas [0.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Oil and Gas [0.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Oil and Gas [0.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Oil and Gas [0.4%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brazos Delaware II, LLC, 2025 B-2 Refinancing Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brazos Delaware II, LLC, 2025 B-2 Refinancing Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.723%, CME Term SOFR + 2.500%, 02/11/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.723%, CME Term SOFR + 2.500%, 02/11/30(B) | $841 | $840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deep Blue 9/25 TL, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deep Blue 9/25 TL, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 03/22/30(F) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 03/22/30(F) | 335 | 335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Epic Crude Services, LP, 2025 Refinancing Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Epic Crude Services, LP, 2025 Refinancing Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.828%, CME Term SOFR + 2.500%, 10/15/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.828%, CME Term SOFR + 2.500%, 10/15/31(B) | 284 | 284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fortress Investment 7/25 TLB, | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fortress Investment 7/25 TLB, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.913%, 11/17/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.913%, 11/17/31(B) | 647 | 645 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NGL Energy Operating LLC, Initial Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NGL Energy Operating LLC, Initial Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.663%, CME Term SOFR + 3.500%, 02/03/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.663%, CME Term SOFR + 3.500%, 02/03/31(B) | 373 | 374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Par Pacific Patroleum 3/24 Cov-Lite, Initial Loan 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Par Pacific Patroleum 3/24 Cov-Lite, Initial Loan 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.029%, 04/16/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.029%, 04/16/29(B) | 644 | 642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rockpoint Gas Storage Partners LP, Amendment No.1 Refinancing Term Loan., 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rockpoint Gas Storage Partners LP, Amendment No.1 Refinancing Term Loan., 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.002%, CME Term SOFR + 3.000%, 09/18/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.002%, CME Term SOFR + 3.000%, 09/18/31(B) | 800 | 802 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Third Coast Infrastructure, LLC, 2025 Refinancing Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Third Coast Infrastructure, LLC, 2025 Refinancing Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.913%, CME Term SOFR + 3.750%, 09/25/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.913%, CME Term SOFR + 3.750%, 09/25/30(B) | 1089 | 1092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ultra Clean 9/25 TL, | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ultra Clean 9/25 TL, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.913%, 03/27/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.913%, 03/27/32(B) | 1738 | 1743 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Oil and Gas** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Oil and Gas** |  | 6757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Other [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Other [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Other [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Other [0.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Assytec, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Assytec, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.123%, 12/31/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.123%, 12/31/28(B) | 1000 | 909 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Catawba Nation Gaming Authority, Initial Term B Loan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Catawba Nation Gaming Authority, Initial Term B Loan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.913%, 12/20/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.913%, 12/20/29(B) | $665 | $679 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Other** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Other** |  | 1588 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Packaging [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Packaging [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Packaging [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Packaging [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Owens-Illinois/O-I Glass 9/25 Cov-Lite TLB, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Owens-Illinois/O-I Glass 9/25 Cov-Lite TLB, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 05/04/32(F) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 05/04/32(F) | 320 | 319 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Personal and Non-Durable Consumer Products (Manufacturing Only) [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Personal and Non-Durable Consumer Products (Manufacturing Only) [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Personal and Non-Durable Consumer Products (Manufacturing Only) [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Personal and Non-Durable Consumer Products (Manufacturing Only) [0.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Breitling Holdings S.a r.l., Facility B, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Breitling Holdings S.a r.l., Facility B, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.937%, EURIBOR + 3.900%, 10/25/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.937%, EURIBOR + 3.900%, 10/25/28(B) | 1000 | 1071 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Pharmaceuticals [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Pharmaceuticals [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Pharmaceuticals [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Pharmaceuticals [0.3%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financiere Verdi I Sas, Deautche Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financiere Verdi I Sas, Deautche Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.504%, 05/03/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.504%, 05/03/28(B) | 1000 | 1307 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nidda Healthcare TL, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nidda Healthcare TL, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.526%, 01/31/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.526%, 01/31/30(B) | 1500 | 1764 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Organon 12/24 (USD) Cov-Lite TL, | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Organon 12/24 (USD) Cov-Lite TL, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.408%, 07/31/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.408%, 07/31/30(B) | 1100 | 1071 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pharmanovia Bidco, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pharmanovia Bidco, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.282%, 06/20/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.282%, 06/20/31(B) | 500 | 323 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Pharmaceuticals** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Pharmaceuticals** |  | 4465 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Printing, Publishing and Broadcasting [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Printing, Publishing and Broadcasting [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Printing, Publishing and Broadcasting [0.3%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Printing, Publishing and Broadcasting [0.3%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Digital Media Solutions 4/21 TLB, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Digital Media Solutions 4/21 TLB, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 05/26/28(F) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 05/26/28(F) | 686 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Digital Media Solutions 9/24 B Roll-Up TL, | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Digital Media Solutions 9/24 B Roll-Up TL, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 11/04/31(F) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 11/04/31(F) | 62 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Digital Media Solutions Dms 2/25 Exit, | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Digital Media Solutions Dms 2/25 Exit, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.163%, 04/28/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.163%, 04/28/32(B) | 285 | 285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LABL, Inc., Initial Euro Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LABL, Inc., Initial Euro Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.913%, EURIBOR + 5.000%, 10/30/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.913%, EURIBOR + 5.000%, 10/30/28(B) | 455 | 426 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 63

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Magnite, Inc., Amendment No.2 Initial Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Magnite, Inc., Amendment No.2 Initial Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.163%, CME Term SOFR + 3.000%, 02/06/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.163%, CME Term SOFR + 3.000%, 02/06/31(B) | $996 | $997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Neptune BidCo US Inc., Term A Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Neptune BidCo US Inc., Term A Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.179%, CME Term SOFR + 4.750%, 10/11/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.179%, CME Term SOFR + 4.750%, 10/11/28(B) | 572 | 544 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Neptune BidCo US Inc., Term Loan, 2nd Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Neptune BidCo US Inc., Term Loan, 2nd Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14.179%, CME Term SOFR + 9.750%, 10/11/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14.179%, CME Term SOFR + 9.750%, 10/11/29(B) | 948 | 935 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Summer (BC) Bidco B LLC, Extended Facility B (USD), 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Summer (BC) Bidco B LLC, Extended Facility B (USD), 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.262%, CME Term SOFR + 5.000%, 02/15/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.262%, CME Term SOFR + 5.000%, 02/15/29(B) | 888 | 871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wasserman Media Group, LLC, Initial Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wasserman Media Group, LLC, Initial Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.158%, CME Term SOFR + 3.000%, 06/23/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.158%, CME Term SOFR + 3.000%, 06/23/32(B) | 330 | 331 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; X Corp., Tranche B-1 Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; X Corp., Tranche B-1 Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.958%, CME Term SOFR + 6.500%, 10/26/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.958%, CME Term SOFR + 6.500%, 10/26/29(B) | 581 | 569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; X Corp., Tranche B-3 Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; X Corp., Tranche B-3 Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.500%, FIXED + 9.500%, 10/26/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.500%, FIXED + 9.500%, 10/26/29(B) | 415 | 416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Printing, Publishing and Broadcasting** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Printing, Publishing and Broadcasting** |  | 5374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Real Estate Services [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Real Estate Services [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Real Estate Services [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Real Estate Services [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ggp (Brookfield Residential Property) 5/25, Tlb 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ggp (Brookfield Residential Property) 5/25, Tlb 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.663%, 01/31/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.663%, 01/31/31(B) | 434 | 435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Retail (non-food/drug) [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Retail (non-food/drug) [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Retail (non-food/drug) [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Retail (non-food/drug) [0.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Al_As Adventure, Global Loan Agency Services Limited | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Al_As Adventure, Global Loan Agency Services Limited |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.037%, 05/19/26(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.037%, 05/19/26(B) | 943 | 1107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Retail Stores [0.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Retail Stores [0.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Retail Stores [0.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Retail Stores [0.5%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Belfor Holdings Inc., Tranche B-5 Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Belfor Holdings Inc., Tranche B-5 Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.913%, CME Term SOFR + 2.750%, 11/01/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.913%, CME Term SOFR + 2.750%, 11/01/30(B) | $974 | $977 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Boots Group Bidco 7/25 (USD) TLB, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Boots Group Bidco 7/25 (USD) TLB, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.705%, 01/09/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.705%, 01/09/32(B) | 415 | 416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Euro Garage TL, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Euro Garage TL, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 07/16/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 07/16/32(B) | 1399 | 1654 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mister Car Wash Holdings, Inc., 2024 Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mister Car Wash Holdings, Inc., 2024 Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.663%, CME Term SOFR + 2.500%, 03/27/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.663%, CME Term SOFR + 2.500%, 03/27/31(B) | 508 | 508 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Peer Holding III B.V., Facility B5B, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Peer Holding III B.V., Facility B5B, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.502%, CME Term SOFR + 2.500%, 07/01/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.502%, CME Term SOFR + 2.500%, 07/01/31(B) | 908 | 908 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Peer Holding III B.V., Facility B7, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Peer Holding III B.V., Facility B7, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, Euribor + 3.250%, 11/26/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, Euribor + 3.250%, 11/26/31(B) | 2000 | 2354 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Restoration Hardware, Inc., Initial Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Restoration Hardware, Inc., Initial Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.778%, CME Term SOFR + 2.500%, 10/20/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.778%, CME Term SOFR + 2.500%, 10/20/28(B) | 408 | 397 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; THG Operations TL, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; THG Operations TL, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.049%, 02/28/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.049%, 02/28/30(B) | 800 | 873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; West Marine 9/24 TLc, | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; West Marine 9/24 TLc, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.248%, 09/05/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.248%, 09/05/29(B) | 25 | 17 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WH Borrower, LLC, Initial Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WH Borrower, LLC, Initial Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.704%, CME Term SOFR + 4.500%, 02/20/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.704%, CME Term SOFR + 4.500%, 02/20/32(B) | 1337 | 1337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Retail Stores** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Retail Stores** |  | 9441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Semiconductor Equipment [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Semiconductor Equipment [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Semiconductor Equipment [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Semiconductor Equipment [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Qnity Electrs Inc, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Qnity Electrs Inc, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 01/30/32(F) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 01/30/32(F) | 415 | 414 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 64

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Services [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Services [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Services [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Services [0.2%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Public Education/Apei 3/21 TLB, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Public Education/Apei 3/21 TLB, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.778%, 01/31/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.778%, 01/31/29(B) | $739 | $729 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invent Farma TL, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invent Farma TL, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.226%, 04/20/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.226%, 04/20/28(B) | 1000 | 1176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kronosnet 9/22 Cov, Bnp Paribas Sa | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kronosnet 9/22 Cov, Bnp Paribas Sa |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.923%, 12/20/27(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.923%, 12/20/27(B) | 1000 | 816 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sitel Group, Bnp Paribas-Prin | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sitel Group, Bnp Paribas-Prin |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.617%, 07/28/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.617%, 07/28/28(B) | 1000 | 580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Services** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Services** |  | 3301 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Software and Service [0.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Software and Service [0.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Software and Service [0.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Software and Service [0.4%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mercury Data Ctr Bidco TL Bankdebt 9.4083 20290905, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mercury Data Ctr Bidco TL Bankdebt 9.4083 20290905, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 03/24/28(F) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 03/24/28(F) | 6073 | 6043 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Perforce Software 3/24 Incremental TL, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Perforce Software 3/24 Incremental TL, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.913%, 02/15/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.913%, 02/15/29(B) | 499 | 442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prometric 6/25 Cov-Lite TLB, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prometric 6/25 Cov-Lite TLB, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.913%, 07/30/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.913%, 07/30/32(B) | 330 | 331 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Software and Service** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Software and Service** |  | 6816 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Technology [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Technology [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Technology [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Technology [0.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pitney Bowes Inc., Tranche B Term Loan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pitney Bowes Inc., Tranche B Term Loan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.913%, 03/12/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.913%, 03/12/29(B) | 1184 | 1182 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UST Global Inc., Initial Term Loan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UST Global Inc., Initial Term Loan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.136%, 10/20/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.136%, 10/20/28(B) | 498 | 493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Virtusa Corporation, Term B-2 Loan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Virtusa Corporation, Term B-2 Loan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.413%, 02/27/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.413%, 02/27/30(B) | 619 | 611 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Technology** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Technology** |  | 2286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Telecommunications [1.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Telecommunications [1.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Telecommunications [1.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Telecommunications [1.2%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AP Core Holdings II, LLC, Term B-2 Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AP Core Holdings II, LLC, Term B-2 Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.778%, CME Term SOFR + 5.500%, 09/01/27(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.778%, CME Term SOFR + 5.500%, 09/01/27(B) | 1080 | 1049 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Atlantic Broadband/Breezeline 9/23 TLB, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Atlantic Broadband/Breezeline 9/23 TLB, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.413%, 09/30/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.413%, 09/30/30(B) | 471 | 470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Centurylink/Lumen 3/24 Cov-Lite TLa, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Centurylink/Lumen 3/24 Cov-Lite TLa, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.163%, 01/25/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.163%, 01/25/31(B) | $1274 | $1294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Circet Europe, Senior Facility B, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Circet Europe, Senior Facility B, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, EURIBOR + 3.250%, 10/13/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, EURIBOR + 3.250%, 10/13/28(B) | 1000 | 1176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Connect Finco Sarl, Amendment No. 4 Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Connect Finco Sarl, Amendment No. 4 Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.663%, CME Term SOFR + 4.500%, 09/27/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.663%, CME Term SOFR + 4.500%, 09/27/29(B) | 987 | 973 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Coral-US Co-Borrower LLC, Term B-7 Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Coral-US Co-Borrower LLC, Term B-7 Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.568%, CME Term SOFR + 3.250%, 01/31/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.568%, CME Term SOFR + 3.250%, 01/31/32(B) | 695 | 688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Creation Technologies Inc., Initial Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Creation Technologies Inc., Initial Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.047%, CME Term SOFR + 5.500%, 10/05/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.047%, CME Term SOFR + 5.500%, 10/05/28(B) | 1380 | 1369 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Eircom Finco Sa TL, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Eircom Finco Sa TL, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.651%, 02/12/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.651%, 02/12/32(B) | 1500 | 1766 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Frontier Communications Holdings, LLC, Initial Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Frontier Communications Holdings, LLC, Initial Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.650%, CME Term SOFR + 2.500%, 07/01/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.650%, CME Term SOFR + 2.500%, 07/01/31(B) | 794 | 793 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Level 3 9/25 Cov-Lite TLB4, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Level 3 9/25 Cov-Lite TLB4, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.416%, 07/15/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.416%, 07/15/32(B) | 580 | 580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Level 3 Financing, Inc., Term B-3 Refinancing Loan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Level 3 Financing, Inc., Term B-3 Refinancing Loan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.566%, CME Term SOFR + 4.250%, 03/19/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.566%, CME Term SOFR + 4.250%, 03/19/32(B) | 500 | 500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lorca Telecom Bidco, S.A. , Facility B5, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lorca Telecom Bidco, S.A. , Facility B5, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.561%, Euribor + 2.500%, 03/25/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.561%, Euribor + 2.500%, 03/25/31(B) | 1500 | 1759 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lumen Technologies Inc., Term B-1 Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lumen Technologies Inc., Term B-1 Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.628%, CME Term SOFR + 2.350%, 04/16/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.628%, CME Term SOFR + 2.350%, 04/16/29(B) | 965 | 958 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 65

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup> | Face Amount (000)<sup>(1)</sup> | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Odido Holding B.V., Facility B2, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Odido Holding B.V., Facility B2, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.900%, Euribor + 2.900%, 03/30/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.900%, Euribor + 2.900%, 03/30/29(B) | $1000 | $1178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Radiate Holdco, LLC, Amendment No. 6 Term Loan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Radiate Holdco, LLC, Amendment No. 6 Term Loan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.528%, CME Term SOFR + 3.250%, 11/20/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.528%, CME Term SOFR + 3.250%, 11/20/28(B) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VMED O2 UK Holdco 4 Limited, Facility Z, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VMED O2 UK Holdco 4 Limited, Facility Z, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.302%, Euribor + 3.425%, 10/15/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.302%, Euribor + 3.425%, 10/15/31(B) | 1000 | 1177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zacapa S.a r.l., Seventh Amendment Incremental Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zacapa S.a r.l., Seventh Amendment Incremental Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.752%, CME Term SOFR + 3.750%, 03/22/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.752%, CME Term SOFR + 3.750%, 03/22/29(B) | 1981 | 1983 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zayo Grp Hold, Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zayo Grp Hold, Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.117%, 04/30/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.117%, 04/30/28(B) | 713 | 821 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ziggo B.V., Term Loan H Facility, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ziggo B.V., Term Loan H Facility, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.877%, EURIBOR + 3.000%, 01/31/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.877%, EURIBOR + 3.000%, 01/31/29(B) | 1000 | 1156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Telecommunications** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Telecommunications** |  | 19690 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Transportation, Airlines & Distribution [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Transportation, Airlines & Distribution [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Transportation, Airlines & Distribution [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Transportation, Airlines & Distribution [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flint Group (Pik Holdco TL), Global Loan Agency Services Limited | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flint Group (Pik Holdco TL), Global Loan Agency Services Limited |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.641%, 08/18/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.641%, 08/18/28(B) | 510 | 28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Utilities [0.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Utilities [0.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Utilities [0.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Utilities [0.5%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alpha Generation, LLC, Initial Term B Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alpha Generation, LLC, Initial Term B Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.163%, CME Term SOFR + 2.000%, 09/30/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.163%, CME Term SOFR + 2.000%, 09/30/31(B) | 535 | 534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Eastern Power, LLC (Eastern Covert Midco, LLC), Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Eastern Power, LLC (Eastern Covert Midco, LLC), Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.413%, CME Term SOFR + 5.250%, 04/03/28(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.413%, CME Term SOFR + 5.250%, 04/03/28(B) | 627 | 629 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Goodnight Water Solutions Holdings, LLC, Initial Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Goodnight Water Solutions Holdings, LLC, Initial Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.163%, CME Term SOFR + 4.000%, 06/04/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.163%, CME Term SOFR + 4.000%, 06/04/29(B) | $1143 | $1126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mrp Buyer/Middle River Power 5/25 Delayed TL, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mrp Buyer/Middle River Power 5/25 Delayed TL, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.252%, 05/24/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.252%, 05/24/32(B) | 85 | 84 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mrp Buyer/Middle River Power 5/25 TL, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mrp Buyer/Middle River Power 5/25 TL, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.252%, 05/08/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.252%, 05/08/32(B) | 670 | 658 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Potomac Energy Center, LLC, Initial Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Potomac Energy Center, LLC, Initial Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.321%, CME Term SOFR + 3.000%, 08/05/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.321%, CME Term SOFR + 3.000%, 08/05/32(B) | 750 | 752 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Talen Energy Supply, LLC, 2024-1 Incremental Term B Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Talen Energy Supply, LLC, 2024-1 Incremental Term B Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.733%, CME Term SOFR + 2.500%, 12/13/31(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.733%, CME Term SOFR + 2.500%, 12/13/31(B) | 288 | 288 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Talen Energy Supply, LLC, Initial Term B Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Talen Energy Supply, LLC, Initial Term B Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.733%, CME Term SOFR + 2.500%, 05/17/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.733%, CME Term SOFR + 2.500%, 05/17/30(B) | 383 | 384 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trench Group GmbH, Facility B, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trench Group GmbH, Facility B, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.243%, Euribor + 3.250%, 03/05/32(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.243%, Euribor + 3.250%, 03/05/32(B) | 1000 | 1181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vistra Operations Company LLC, 2018 Incremental Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vistra Operations Company LLC, 2018 Incremental Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.913%, CME Term SOFR + 1.750%, 12/20/30(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.913%, CME Term SOFR + 1.750%, 12/20/30(B) | 452 | 452 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WaterBridge Midstream Operating LLC, Term Loan B, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WaterBridge Midstream Operating LLC, Term Loan B, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.030%, CME Term SOFR + 4.750%, 06/27/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.030%, CME Term SOFR + 4.750%, 06/27/29(B) | 1582 | 1582 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 66

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup>/Shares | Face Amount (000)<sup>(1)</sup>/Shares | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Waterbridge NDB Operating LLC, Initial Term Loan, 1st Lien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Waterbridge NDB Operating LLC, Initial Term Loan, 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.174%, CME Term SOFR + 4.000%, 05/10/29(B) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.174%, CME Term SOFR + 4.000%, 05/10/29(B) | $614 | $614 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  | 8284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Loan Participations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Loan Participations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Loan Participations** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $273,127) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $273,127) |  | 271321 |
|  **Non-Listed Business Development Companies [5.4%]** | **Non-Listed Business Development Companies [5.4%]** | **Non-Listed Business Development Companies [5.4%]** | **Non-Listed Business Development Companies [5.4%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Financials [5.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Financials [5.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Financials [5.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Financials [5.4%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Golub Capital BDC 4 (I) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Golub Capital BDC 4 (I) | 5000000 | 75000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TCW Direct Lending LLC (I) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TCW Direct Lending LLC (I) | 250 | 16153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 91153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Non-Listed Business Development Companies** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Non-Listed Business Development Companies** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Non-Listed Business Development Companies** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $92,458) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $92,458) |  | 91153 |
|  **Limited Partnerships [2.1%]** | **Limited Partnerships [2.1%]** | **Limited Partnerships [2.1%]** | **Limited Partnerships [2.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oberland Capital Healthcare Solutions Co-Invest Offshore LP(I) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oberland Capital Healthcare Solutions Co-Invest Offshore LP(I) | N/A | 7889 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oberland Capital Healthcare Solutions LP(I) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oberland Capital Healthcare Solutions LP(I) | N/A | 4242 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Primary Wave Music IP Fund LP(I) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Primary Wave Music IP Fund LP(I) | N/A | 23868 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Limited Partnerships** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Limited Partnerships** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Limited Partnerships** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $30,080) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $30,080) |  | 35999 |
|  **Convertible Bonds [1.3%]** | **Convertible Bonds [1.3%]** | **Convertible Bonds [1.3%]** | **Convertible Bonds [1.3%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Broadcasting & Cable [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Broadcasting & Cable [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Broadcasting & Cable [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Broadcasting & Cable [0.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cable One | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cable One |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 03/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 03/15/28 | 2500 | 2134 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Building & Construction [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Building & Construction [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Building & Construction [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Building & Construction [0.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HTA Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HTA Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 03/18/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 03/18/27 | 1400 | 1355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Chemicals [0.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Chemicals [0.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Chemicals [0.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Chemicals [0.5%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sasol Financing USA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sasol Financing USA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/08/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/08/27 | 8400 | 8030 |
| Description | Face Amount (000)<sup>(1)</sup>/Shares | Face Amount (000)<sup>(1)</sup>/Shares | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Circuit Boards [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Circuit Boards [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Circuit Boards [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Circuit Boards [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zhen Ding Technology Holding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zhen Ding Technology Holding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 09/25/30(E) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 09/25/30(E) | $200 | $207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Coal Mining [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Coal Mining [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Coal Mining [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Coal Mining [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New World Resources | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New World Resources |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%cash/8.000% PIK, 10/07/20(C) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%cash/8.000% PIK, 10/07/20(C) | 380 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **E-Commerce/Products [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **E-Commerce/Products [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **E-Commerce/Products [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **E-Commerce/Products [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alibaba Group Holding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alibaba Group Holding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 06/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 06/01/31 | 315 | 579 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **E-Commerce/Services [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **E-Commerce/Services [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **E-Commerce/Services [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **E-Commerce/Services [0.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MakeMyTrip | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MakeMyTrip |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 07/01/30(A) (E) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 07/01/30(A) (E) | 800 | 826 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Entertainment & Gaming [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Entertainment & Gaming [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Entertainment & Gaming [0.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Entertainment & Gaming [0.2%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wynn Macau | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wynn Macau |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 03/07/29(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 03/07/29(A) | 3875 | 4173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Hotels and Motels [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Hotels and Motels [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Hotels and Motels [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Hotels and Motels [0.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; H World Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; H World Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 05/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 05/01/26 | 943 | 1045 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Insurance [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Insurance [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Insurance [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Insurance [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; China Pacific Insurance Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; China Pacific Insurance Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 09/18/30(E) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 09/18/30(E) | 5000 | 646 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Internet Content-Entmnt [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Internet Content-Entmnt [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Internet Content-Entmnt [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Internet Content-Entmnt [0.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; iQIYI | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; iQIYI |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 03/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 03/15/30 | 800 | 889 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Investment Bank/Broker-Dealer [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Investment Bank/Broker-Dealer [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Investment Bank/Broker-Dealer [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Investment Bank/Broker-Dealer [0.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Finance International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Finance International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 04/04/28(E) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 04/04/28(E) | 1200 | 1415 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Real Estate Oper/Develop [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Real Estate Oper/Develop [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Real Estate Oper/Develop [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Real Estate Oper/Develop [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kaisa Group Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kaisa Group Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 12/31/25(A) (E) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 12/31/25(A) (E) | 52 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 12/31/26(A) (E) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 12/31/26(A) (E) | 70 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 12/31/27(A) (E) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 12/31/27(A) (E) | 87 | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 12/31/28(A) (E) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 12/31/28(A) (E) | 140 | 3 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 67

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Face Amount (000)<sup>(1)</sup>/Shares | Face Amount (000)<sup>(1)</sup>/Shares | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 12/31/29(A) (E) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 12/31/29(A) (E) | $140 | $3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 12/31/30(A) (E) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 12/31/30(A) (E) | 174 | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 12/31/31(A) (E) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 12/31/31(A) (E) | 174 | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 12/31/32(A) (E) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 12/31/32(A) (E) | 329 | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate Oper/Develop** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate Oper/Develop** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate Oper/Develop** | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Semi-Conductors [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Semi-Conductors [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Semi-Conductors [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Semi-Conductors [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hon Hai Precision Industry | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hon Hai Precision Industry |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 10/24/29(E) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 10/24/29(E) | 700 | 758 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Convertible Bonds** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Convertible Bonds** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Convertible Bonds** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cost ($21597) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cost ($21597) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cost ($21597) | 22079 |
|  **Sovereign Debt [0.7%]** | **Sovereign Debt [0.7%]** | **Sovereign Debt [0.7%]** | **Sovereign Debt [0.7%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Argentina Paris Club | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Argentina Paris Club |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.910%, 05/30/21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.910%, 05/30/21 | 1267 | 1034 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Argentine Republic Government International Bond | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Argentine Republic Government International Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 07/09/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 07/09/29 | 6320 | 4607 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ivory Coast Government International Bond | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ivory Coast Government International Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 06/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 06/15/33 | 4400 | 4219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; National Bank of Uzbekistan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; National Bank of Uzbekistan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.200%, 07/17/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.200%, 07/17/30 | 1710 | 1755 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sri Lanka Government International Bond | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sri Lanka Government International Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 04/15/28(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 04/15/28(A) | 99 | 94 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 08/15/27(A) (G) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 08/15/27(A) (G) | 187 | 167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 11/15/27(A) (G) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 11/15/27(A) (G) | 94 | 83 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 12/15/27(A) (G) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 12/15/27(A) (G) | 135 | 98 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.350%, 09/15/27(A) (G) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.350%, 09/15/27(A) (G) | 200 | 171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.100%, 07/15/27(A) (G) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.100%, 07/15/27(A) (G) | 102 | 95 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Sovereign Debt** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Sovereign Debt** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Sovereign Debt** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cost ($12629) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cost ($12629) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cost ($12629) | 12323 |
| Description | Face Amount (000)<sup>(1)</sup>/Shares | Face Amount (000)<sup>(1)</sup>/Shares | Value (000) |
|  **Note [0.4%]** | **Note [0.4%]** | **Note [0.4%]** | **Note [0.4%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City National Rochdale FIOF Investments (Ireland) Limited (J) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City National Rochdale FIOF Investments (Ireland) Limited (J) | $48490628 | $6183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Note** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Note** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Note** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $185,370) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $185,370) |  | 6183 |
|  **Common Stock [0.2%]** | **Common Stock [0.2%]** | **Common Stock [0.2%]** | **Common Stock [0.2%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Broadcasting & Cable [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Broadcasting & Cable [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Broadcasting & Cable [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Broadcasting & Cable [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Digicel Holdings (D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Digicel Holdings (D) | 107067 | 589 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Digital Media Solutions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Digital Media Solutions | 2606 | 91 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Broadcasting & Cable** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Broadcasting & Cable** |  | 680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Diversified Minerals [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Diversified Minerals [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Diversified Minerals [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Diversified Minerals [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New World Resources, Cl A \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New World Resources, Cl A \* | 44276198 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Financial Services [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Financial Services [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Financial Services [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Financial Services [0.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A'ayan Leasing & Investment KSCP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A'ayan Leasing & Investment KSCP | 976932 | 432 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Financials [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Financials [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Financials [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Financials [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BCD Acquisition | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BCD Acquisition | 1000000 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Copper Property CTL Pass Through Trust (D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Copper Property CTL Pass Through Trust (D) | 3788 | 47 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | 47 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Health Care [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Health Care [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Health Care [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Health Care [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Novartex (D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Novartex (D) | 180000 | 13 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Manufacturing [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Manufacturing [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Manufacturing [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Manufacturing [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vivarte (D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vivarte (D) | 6000 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Media Entertainment [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Media Entertainment [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Media Entertainment [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Media Entertainment [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Audacy Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Audacy Inc | 5095 | 74 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Oil, Gas & Consumable Fuels [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Oil, Gas & Consumable Fuels [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Oil, Gas & Consumable Fuels [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Oil, Gas & Consumable Fuels [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nostrum Oil & Gas \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nostrum Oil & Gas \* | 3039550 | 144 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Summit Midstream \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Summit Midstream \* | 11456 | 236 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Oil, Gas & Consumable Fuels** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Oil, Gas & Consumable Fuels** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Oil, Gas & Consumable Fuels** | 380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Other [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Other [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Other [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Other [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ESC GCBREGS Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ESC GCBREGS Corp | 4750000 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Latina Offshore | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Latina Offshore | 65 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Other** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Other** |  |  |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 68

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Shares/Number of Warrants | Shares/Number of Warrants | Value (000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Retailers [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Retailers [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Retailers [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Retailers [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rising Tide Holdings Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rising Tide Holdings Inc | 1887 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Toys 'R' Us Property Company I, LLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Toys 'R' Us Property Company I, LLC | 23484 | 117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Retailers** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Retailers** |  | 117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Technology [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Technology [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Technology [0.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Technology [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AS ADV Shares (D) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AS ADV Shares (D) | 65148 | 163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lumileds \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lumileds \* | 4241 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Technology** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Technology** |  | 164 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Utilities [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Utilities [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Utilities [0.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Utilities [0.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Longview Power LLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Longview Power LLC | 49272 | 862 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Common Stock** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Common Stock** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Common Stock** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $3,694) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $3,694) |  | 2770 |
|  **Warrants [0.0%]** | **Warrants [0.0%]** | **Warrants [0.0%]** | **Warrants [0.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Altisource | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Altisource |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expires 11/12/25\* (H) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expires 11/12/25\* (H) | 553 | 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Audacy Inc, | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Audacy Inc, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expires 09/30/25 (H) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expires 09/30/25 (H) | 7205 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Warrants** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Warrants** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Warrants** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $—) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $—) |  | 7 |
|  **Short-Term Investment [4.2%]** | **Short-Term Investment [4.2%]** | **Short-Term Investment [4.2%]** | **Short-Term Investment [4.2%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SEI Daily Income Trust Government Fund, Cl Institutional, 4.040% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SEI Daily Income Trust Government Fund, Cl Institutional, 4.040% | 71174270 | 71174 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Short-Term Investment** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Short-Term Investment** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Short-Term Investment** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $71,174) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $71,174) |  | 71174 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Investments [99.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Investments [99.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Investments [99.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Investments [99.4%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $1,920,794) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $1,920,794) |  | $1679916 |

---

Percentages are based on net assets of $1,689,980 (000).

\* Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(1) U.S. Dollars unless otherwise
 indicated.

&nbsp;&nbsp;&nbsp;&nbsp;(A) Security exempt from registration
 under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration normally to qualified
 institutions. On September 30, 2025, the value of these securities amounted to $731,395 (000), representing 43.3% of the net assets of
 the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;(B) Variable or floating rate security.
 The rate shown is the effective interest rate as of period end. The rates for certain securities are not based on published reference
 rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the
 rates of underlying loans; or by adjusting periodically based on prevailing interest rates.

&nbsp;&nbsp;&nbsp;&nbsp;(C) In default on interest payments.
 Rate shown represents the last coupon rate prior to default.

&nbsp;&nbsp;&nbsp;&nbsp;(D) Level 3 security in accordance
 with fair value hierarchy.

&nbsp;&nbsp;&nbsp;&nbsp;(E) Zero coupon security.

&nbsp;&nbsp;&nbsp;&nbsp;(F) Unsettled bank loan, Interest
 rate not available.

&nbsp;&nbsp;&nbsp;&nbsp;(G) Step coupon security. Coupon
 rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects
 the rate currently in effect.

&nbsp;&nbsp;&nbsp;&nbsp;(H) Strike Price is unavailable.

&nbsp;&nbsp;&nbsp;&nbsp;(I) Unfunded Commitments as of
 September 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  Security | Value | Unfunded <br> Commitments | Redemption <br> Frequency | Redemption <br> Notice <br> (Days) |
| &nbsp;&nbsp;&nbsp; Golub Capital BDC 4 | $75000000 | $— |  |  |
| &nbsp;&nbsp;&nbsp; Oberland Capital Healthcare Solutions Co-Invest Offshore LP | 7889214 | 9837500 |  |  |
| &nbsp;&nbsp;&nbsp; Oberland Capital Healthcare Solutions LP | 4241273 | 11573997 |  |  |
| &nbsp;&nbsp;&nbsp; Primary Wave Music IP Fund LP | 23868160 | 760479 |  |  |
| &nbsp;&nbsp;&nbsp; TCW Direct Lending LLC | 16153502 | 7658394 |  |  |
|  Total | $127152149 | $29830370 |  |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;(J) In June 2025, the Board of
 Directors of CNR FIOF Investments (Ireland) Limited, a company organized under the laws of Ireland (the "Irish Company"),
 appointed Fortis Advisory as liquidator, and on July 17, 2025, the Irish Company officially entered liquidation.

CHF — Swiss Franc

Cl — Class

CLO — Collateralized Loan Obligation

CME — Chicago Mercantile Exchange

DAC — Designated Activity Company

EUR — Euro

EUR003M — Euribor 3 Month

Euribor — Euro Interbank Offered Rate

GBP — British Pound Sterling

H15T10Y — US Treasury Yield Curve Rate T Note Constant Maturity 10 Year

H15T5Y — US Treasury Yield Curve Rate T Note Constant Maturity 5 Year

HKD — Hong Kong Dollar JSC — Joint Stock Company

JPY — Japanese Yen

LIBOR — London Interbank Offered Rates

LLC — Limited Liability Company

LP — Limited Partnership

LTD — Limited

MTN — Medium Term Note

PIK — Payment-in Kind

PLC — Public Limited Company

REIT — Real Estate Investment Trust

Ser — Series

SOFR — Secured Overnight Financing Rate

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 69

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(continued)* |

---

TSFR3M — Term Secured Overnight Financing Rate 3 Months

USISSO05 — 5-Year U.S. Dollar SOFR ICE Swap Rate

ULC — Unlimited Liability Company

UNFND — Unfunded

USD — U.S. Dollar

A list of the open forward foreign currency contracts held by the Fund at September 30, 2025, is as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Counterparty | Settlement <br> Date | Currency to <br> Deliver <br> (000) | Currency to <br> Deliver <br> (000) | Currency to <br> Receive <br> (000) | Currency to <br> Receive <br> (000) | Unrealized <br> Appreciation <br> (Depreciation) <br> (000) |
|  U.S. Bank | 10/24/25 | USD | 1170 | EUR | 1000 | $6 |
|  U.S. Bank | 10/15/25 | USD | 4738 | EUR | 4000 | (37) |
|  U.S. Bank | 10/24/25 | USD | 5230 | EUR | 4500 | 61 |
|  U.S. Bank | 10/24/25 | USD | 1565 | EUR | 1325 | (7) |
|  U.S. Bank | 10/24/25 | EUR | 206345 | USD | 242912 | 307 |
|  U.S. Bank | 10/24/25 | EUR | 3740 | USD | 4379 | (18) |
|  U.S. Bank | 10/29/25 | GBP | 4795 | USD | 6454 | 5 |
|  U.S. Bank | 10/29/25 | EUR | 106010 | USD | 124745 | 66 |
|  |  |  |  |  |  | $383 |

---

A list of the open futures contracts held by the Fund at September 30, 2025, is as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Type of <br> Contract | Number of <br> Contracts | Expiration <br> Date | Notional <br> Amount <br> (000) | Value <br> (000) | Unrealized <br> Depreciation<br> (000) |
|  Long Contracts |  |  |  |  |  |
|  U.S. 10-Year Treasury Note | 101 | Dec-2025 | $11371 | $11362 | $(9) |

---

The following is a summary of the inputs used as of September 30, 2025 in valuing the Fund's investments and other financial instruments carried at value (000):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  Investments in Securities | Level 1 | Level 2 | Level 3 | Total |
| &nbsp;&nbsp;&nbsp; Corporate Bonds | $— | $842668 | $1566 | $844234 |
| &nbsp;&nbsp;&nbsp; Collateralized Loan Obligations |  | 322673 |  | 322673 |
| &nbsp;&nbsp;&nbsp; Loan Participations |  | 270520 | 801 | 271321 |
| &nbsp;&nbsp;&nbsp; Non-Listed Business Development Companies<sup>(a)</sup> |  |  |  | 91153 |
| &nbsp;&nbsp;&nbsp; Limited Partnerships<sup>(a)</sup> |  | 23868 |  | 35999 |
| &nbsp;&nbsp;&nbsp; Convertible Bonds |  | 22079 |  | 22079 |
| &nbsp;&nbsp;&nbsp; Sovereign Debt |  | 12323 |  | 12323 |
| &nbsp;&nbsp;&nbsp; Note |  | 6183 |  | 6183 |
| &nbsp;&nbsp;&nbsp; Common Stock | 811 | 1146 | 813 | 2770 |
| &nbsp;&nbsp;&nbsp; Warrants |  | 7 |  | 7 |
| &nbsp;&nbsp;&nbsp; Short-Term Investment | 71174 |  |  | 71174 |
|  Total Investments in Securities | $71985 | $1501467 | $3180 | $1679916 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  Other Financial Instruments | Level 1 | Level 2 | Level 3 | Total |
| &nbsp;&nbsp;&nbsp; Futures Contracts\* |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized Depreciation | $(9) | $— | $— | $(9) |
| &nbsp;&nbsp;&nbsp; Forward Contracts\* |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized Appreciation |  | 445 |  | 445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized Depreciation |  | (62) |  | (62) |
|  Total Other Financial Instruments | $(9) | $383 | $— | $374 |

---

\* Forwards and futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.

<sup>(a)</sup> In accordance with Subtopic 820-10, certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. Certain investments are classified in the fair value hierarchy for values based on recent executed sale transactions. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Schedule of Investments. 

The following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining value as of September 30, 2025 (000):

---

| | | | |
|:---|:---|:---|:---|
|  | Investments <br> in Corporate <br> Bonds | Investments <br> in Loan <br> Participations | Investments <br> in Note |
|  Beginning balance as of October 1, 2024 | $2123 | $1008 | $48477 |
| &nbsp;&nbsp;&nbsp; Accrued discounts/ premiums | 50 | 40 |  |
| &nbsp;&nbsp;&nbsp; Realized gain/(loss) | (81) |  |  |
| &nbsp;&nbsp;&nbsp; Change in unrealized appreciation/(depreciation) | (1070) | 18 | 749 |
| &nbsp;&nbsp;&nbsp; Purchases | 1145 |  | 2057 |
| &nbsp;&nbsp;&nbsp; Sales/paydowns | (601) | (265) | (45100) |
| &nbsp;&nbsp;&nbsp; Transfers into Level 3 |  |  |  |
| &nbsp;&nbsp;&nbsp; Transfers out of Level 3 |  |  | (6183 |
|  Ending balance as of September 30, 2025 | $1566 | $801 | $— |
|  Changes in unrealized gains/(losses) included in earnings related to securities still held at reporting date | $(1070) | $18 | $749 |

---

---

| | | |
|:---|:---|:---|
|  | Investments <br> in Common <br> Stock | Total |
|  Beginning balance as of October 1, 2024 | $912 | $52520 |
| &nbsp;&nbsp;&nbsp; Accrued discounts/ premiums |  | 90 |
| &nbsp;&nbsp;&nbsp; Realized gain/(loss) | (3) | (84) |
| &nbsp;&nbsp;&nbsp; Change in unrealized appreciation/(depreciation) | (60) | (363) |
| &nbsp;&nbsp;&nbsp; Purchases |  | 3202 |
| &nbsp;&nbsp;&nbsp; Sales/paydowns | (36) | (46002) |
| &nbsp;&nbsp;&nbsp; Transfers into Level 3 |  |  |
| &nbsp;&nbsp;&nbsp; Transfers out of Level 3 |  | (6183) |
|  Ending balance as of September 30, 2025 | $813 | $3180 |
|  Changes in unrealized gains/(losses) included in earnings related to securities still held at reporting date | $(60) | $(363) |

---

\* The holding of City National Rochdale FIOF Investments (Ireland) Limited was transferred to Level 2 investments as the value is no longer derived from unobservable inputs. Quoted prices in inactive markets, or inputs that are observable (either directly or indirectly) were used to determine Level 2 valuation. 

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 70

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale Fixed Income Opportunities Fund *(concluded)* |

---

Amounts designated as "—" are either $0 or have been rounded to $0.

For more information on valuation inputs, see Note 2 — Significant Accounting

Policies in the Notes to Financial Statements.

A reconciliation of Level 3 investments is presented when the Fund has a significant amount of Level 3 investments at the end of the period in relation to net assets. Management has concluded that Level 3 investments are not material in relation to net assets.

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 71

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale U.S. Core Equity Fund |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Shares | Shares | Value (000) |
|  **Common Stock [99.8%]** | **Common Stock [99.8%]** | **Common Stock [99.8%]** | **Common Stock [99.8%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Communication Services [12.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Communication Services [12.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Communication Services [12.0%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Communication Services [12.0%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alphabet, Cl A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alphabet, Cl A | 81970 | $19927 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Meta Platforms, Cl A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Meta Platforms, Cl A | 15243 | 11194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; T-Mobile US | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; T-Mobile US | 29627 | 7092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Walt Disney | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Walt Disney | 63168 | 7233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** | 45446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Consumer Discretionary [10.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Consumer Discretionary [10.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Consumer Discretionary [10.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Consumer Discretionary [10.5%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amazon.Com \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amazon.Com \* | 67969 | 14924 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Home Depot | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Home Depot | 19348 | 7840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; McDonald's | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; McDonald's | 18426 | 5599 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tesla \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tesla \* | 20542 | 9135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TJX | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TJX | 17795 | 2572 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** | 40070 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Consumer Staples [5.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Consumer Staples [5.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Consumer Staples [5.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Consumer Staples [5.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Anheuser-Busch InBev ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Anheuser-Busch InBev ADR | 44483 | 2652 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Costco Wholesale | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Costco Wholesale | 7790 | 7210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PepsiCo | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PepsiCo | 26392 | 3706 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Procter & Gamble | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Procter & Gamble | 13426 | 2063 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Walmart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Walmart | 36394 | 3751 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** | 19382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Energy [2.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Energy [2.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Energy [2.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Energy [2.6%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EOG Resources | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EOG Resources | 32723 | 3669 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ExxonMobil | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ExxonMobil | 42597 | 4803 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Occidental Petroleum | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Occidental Petroleum | 17921 | 847 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Schlumberger | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Schlumberger | 25540 | 878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** | 10197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Financials [16.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Financials [16.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Financials [16.5%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Financials [16.5%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank of America | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank of America | 81813 | 4221 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank of New York Mellon | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank of New York Mellon | 27711 | 3019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Berkshire Hathaway, Cl B \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Berkshire Hathaway, Cl B \* | 16175 | 8132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital One Financial | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital One Financial | 35466 | 7539 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CME Group, Cl A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CME Group, Cl A | 11919 | 3221 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase | 43759 | 13803 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Marsh & McLennan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Marsh & McLennan | 19101 | 3849 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mastercard, Cl A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mastercard, Cl A | 14293 | 8130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; S&P Global | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; S&P Global | 8028 | 3907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Visa, Cl A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Visa, Cl A | 20664 | 7054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** | 62875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Health Care [7.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Health Care [7.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Health Care [7.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Health Care [7.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amgen | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amgen | 15621 | 4408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Eli Lilly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Eli Lilly | 5806 | $4430 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HCA Healthcare | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HCA Healthcare | 3746 | 1597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Thermo Fisher Scientific | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Thermo Fisher Scientific | 10065 | 4882 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UnitedHealth Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UnitedHealth Group | 13239 | 4571 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vertex Pharmaceuticals \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vertex Pharmaceuticals \* | 11833 | 4635 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zoetis, Cl A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zoetis, Cl A | 16175 | 2367 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** | 26890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Industrials [8.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Industrials [8.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Industrials [8.6%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Industrials [8.6%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cintas | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cintas | 28400 | 5829 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CSX | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CSX | 102159 | 3628 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Northrop Grumman | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Northrop Grumman | 6641 | 4047 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Parker-Hannifin | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Parker-Hannifin | 6087 | 4615 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quanta Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quanta Services | 17133 | 7100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trane Technologies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trane Technologies | 18064 | 7622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** | 32841 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Information Technology [34.1%](A)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Information Technology [34.1%](A)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Information Technology [34.1%](A)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Information Technology [34.1%](A)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Adobe \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Adobe \* | 11493 | 4054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Apple | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Apple | 105671 | 26907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ASML Holding, Cl G | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ASML Holding, Cl G | 8355 | 8088 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Broadcom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Broadcom | 36948 | 12190 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KLA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KLA | 5236 | 5648 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Microsoft | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Microsoft | 59815 | 30981 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NVIDIA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NVIDIA | 179239 | 33442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NXP Semiconductors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NXP Semiconductors | 11034 | 2513 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Roper Technologies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Roper Technologies | 6525 | 3254 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Salesforce | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Salesforce | 13317 | 3156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** | 130233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Materials [0.8%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Materials [0.8%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Materials [0.8%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Materials [0.8%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Linde | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Linde | 6342 | 3012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Real Estate [1.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Real Estate [1.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Real Estate [1.1%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Real Estate [1.1%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Tower | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Tower | 21550 | 4145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Utilities [1.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Utilities [1.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Utilities [1.4%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Utilities [1.4%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NextEra Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NextEra Energy | 72840 | 5499 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Common Stock** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Common Stock** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Common Stock** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Common Stock** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $168,525) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $168,525) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $168,525) | 380590 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 72

---

| |
|:---|
| **schedule of investments** |
| *September 30, 2025* |
| City National Rochdale U.S. Core Equity Fund *(concluded)* |

---

---

| | | | |
|:---|:---|:---|:---|
| Description | Shares | Shares | Value (000) |
|  **Short-Term Investment [0.4%]** | **Short-Term Investment [0.4%]** | **Short-Term Investment [0.4%]** | **Short-Term Investment [0.4%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SEI Daily Income Trust Government Fund, Cl Institutional, 4.040%\*\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SEI Daily Income Trust Government Fund, Cl Institutional, 4.040%\*\* | 1551095 | $1551 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Short-Term Investment** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Short-Term Investment** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Short-Term Investment** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Short-Term Investment** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $1,551) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $1,551) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $1,551) | 1551 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Investments [100.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Investments [100.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Investments [100.2%]** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Investments [100.2%]** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $170,076) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $170,076) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $170,076) | $382141 |

---

Percentages are based on net assets of $381,208 (000).

\* Non-income producing security.

\*\* The rate reported is the 7-day effective yield as of September 30, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;(A) The Fund uses more specific
 categories in following its investment limitations on investment concentrations. Broad industry sectors are used for financial reporting
 purposes.

ADR — American Depositary Receipt

Cl — Class

As of September 30, 2025, all of the Fund's investments are Level 1, in accordance with the authoritative guidance on fair value measurements and disclosure under U.S. GAAP.

For more information on valuation inputs, see Note 2 - Significant Accounting Policies in the Notes to Financial Statements.

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 73

---

| |
|:---|
| **statements of assets and liabilities (000)** |
| *September 30, 2025*  |

---

---

| | | |
|:---|:---|:---|
|  | City National <br> Rochdale <br> Government Money <br> Market Fund | City National <br> Rochdale Municipal <br> High Income Fund |
|  **ASSETS:** |  |  |
| &nbsp;&nbsp;&nbsp; Cost of securities (including repurchase agreements) | $8372807 | $796442 |
| &nbsp;&nbsp;&nbsp; Investments in securities, at value | $7026807 | $754944 |
| &nbsp;&nbsp;&nbsp; Repurchase agreements, at value | 1346000 |  |
| &nbsp;&nbsp;&nbsp; Receivable for capital shares sold | 113874 | 579 |
| &nbsp;&nbsp;&nbsp; Dividend and interest receivable | 14038 | 11179 |
| &nbsp;&nbsp;&nbsp; Prepaid expenses | 56 | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Assets | $8500775 | $766708 |
|  **LIABILITIES:** |  |  |
| &nbsp;&nbsp;&nbsp; Payable for income distributions | 7251 | 1646 |
| &nbsp;&nbsp;&nbsp; Payable for capital shares redeemed |  | 916 |
| &nbsp;&nbsp;&nbsp; Payable for investment securities purchased |  | 2160 |
| &nbsp;&nbsp;&nbsp; Shareholder servicing and distribution fees payable | 2249 | 255 |
| &nbsp;&nbsp;&nbsp; Investment advisory fees payable | 370 | 311 |
| &nbsp;&nbsp;&nbsp; Administrative fees payable | 143 | 46 |
| &nbsp;&nbsp;&nbsp; Trustee fees payable | 8 | 2 |
| &nbsp;&nbsp;&nbsp; Accrued expenses | 414 | 77 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Liabilities | 10435 | 5413 |
| &nbsp;&nbsp;&nbsp; **Net Assets** | $8490340 | $761295 |
|  **NET ASSETS:** |  |  |
| &nbsp;&nbsp;&nbsp; Paid-in Capital (unlimited authorization — $0.01 par value) | $8490303 | $1053687 |
| &nbsp;&nbsp;&nbsp; Total accumulated earnings/(loss) | 37 | (292392) |
| &nbsp;&nbsp;&nbsp; **Net Assets** | $8490340 | $761295 |
|  Class N Shares: |  |  |
| &nbsp;&nbsp;&nbsp; Net Assets | $10 | $486237 |
| &nbsp;&nbsp;&nbsp; Total shares outstanding at end of year | 10 | 53193 |
| &nbsp;&nbsp;&nbsp; Net asset value, offering and redemption price per share (net assets ÷ shares outstanding) | $1.00 | $9.14 |
|  Class S Shares: |  |  |
| &nbsp;&nbsp;&nbsp; Net Assets | $1516400 | $— |
| &nbsp;&nbsp;&nbsp; Total shares outstanding at end of year | 1516393 |  |
| &nbsp;&nbsp;&nbsp; Net asset value, offering and redemption price per share (net assets ÷ shares outstanding) | $1.00 | $— |
|  Servicing Class Shares: |  |  |
| &nbsp;&nbsp;&nbsp; Net Assets | $6973930 | $275058 |
| &nbsp;&nbsp;&nbsp; Total shares outstanding at end of year | 6973901 | 30073 |
| &nbsp;&nbsp;&nbsp; Net asset value, offering and redemption price per share (net assets ÷ shares outstanding) | $1.00 | $9.15 |

---

Amounts designated as "—" are either $0 or have been rounded to $0.

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 74

---

| |
|:---|
| **statements of assets and liabilities (000)** |
| *September 30, 2025* |

---

---

| | | |
|:---|:---|:---|
| | City National <br> Rochdale <br> Fixed Income <br> Opportunities Fund | City National <br> Rochdale U.S. <br> Core Equity Fund |
|  **ASSETS:** |  |  |
| &nbsp;&nbsp;&nbsp; Cost of securities (including affiliated investments and repurchase agreements) | $1920794 | $170076 |
| &nbsp;&nbsp;&nbsp; Investments in securities, at value | $1679916 | $382141 |
| &nbsp;&nbsp;&nbsp; Cash | 344 |  |
| &nbsp;&nbsp;&nbsp; Cash collateral for futures contracts | 64 |  |
| &nbsp;&nbsp;&nbsp; Foreign currency(1) | 2322 |  |
| &nbsp;&nbsp;&nbsp; Dividend and interest receivable | 21711 | 74 |
| &nbsp;&nbsp;&nbsp; Foreign tax reclaim receivable | 418 | 29 |
| &nbsp;&nbsp;&nbsp; Receivable for capital shares sold | 931 | 78 |
| &nbsp;&nbsp;&nbsp; Receivable for investment securities sold | 17158 |  |
| &nbsp;&nbsp;&nbsp; Unrealized gain on forward foreign currency contracts | 445 |  |
| &nbsp;&nbsp;&nbsp; Prepaid expenses | 13 | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Assets | $1723322 | $382325 |
|  **LIABILITIES:** |  |  |
| &nbsp;&nbsp;&nbsp; Payable for investment securities purchased | 30501 |  |
| &nbsp;&nbsp;&nbsp; Payable for capital shares redeemed | 1145 | 782 |
| &nbsp;&nbsp;&nbsp; Payable for variation margin | 2 |  |
| &nbsp;&nbsp;&nbsp; Unrealized loss on forward foreign currency contracts | 62 |  |
| &nbsp;&nbsp;&nbsp; Payable to Custodian |  | 4 |
| &nbsp;&nbsp;&nbsp; Investment advisory fees payable | 612 | 125 |
| &nbsp;&nbsp;&nbsp; Shareholder servicing and distribution fees payable | 701 | 127 |
| &nbsp;&nbsp;&nbsp; Trustee fees payable | 3 | 2 |
| &nbsp;&nbsp;&nbsp; Administrative fees payable | 58 | 41 |
| &nbsp;&nbsp;&nbsp; Accrued expenses | 258 | 36 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Liabilities | 33342 | 1117 |
| &nbsp;&nbsp;&nbsp; **Net Assets** | $1689980 | $381208 |
|  **NET ASSETS:** |  |  |
| &nbsp;&nbsp;&nbsp; Paid-in Capital (unlimited authorization — $0.01 par value) | $2735580 | $123464 |
| &nbsp;&nbsp;&nbsp; Total accumulated earnings/(loss) | (1045600) | 257744 |
| &nbsp;&nbsp;&nbsp; **Net Assets** | $1689980 | $381208 |
|  Institutional Class Shares: |  |  |
| &nbsp;&nbsp;&nbsp; Net Assets | $— | $1935 |
| &nbsp;&nbsp;&nbsp; Total shares outstanding at end of year |  | 70 |
| &nbsp;&nbsp;&nbsp; Net asset value, offering and redemption price per share (net assets ÷ shares outstanding) | $— | $27.48 \* |
|  Class N Shares: |  |  |
| &nbsp;&nbsp;&nbsp; Net Assets | $1689980 | $243322 |
| &nbsp;&nbsp;&nbsp; Total shares outstanding at end of year | 85210 | 8990 |
| &nbsp;&nbsp;&nbsp; Net asset value, offering and redemption price per share (net assets ÷ shares outstanding) | $19.83 | $27.07 |
|  Servicing Class Shares: |  |  |
| &nbsp;&nbsp;&nbsp; Net Assets | $— | $135951 |
| &nbsp;&nbsp;&nbsp; Total shares outstanding at end of year |  | 4994 |
| &nbsp;&nbsp;&nbsp; Net asset value, offering and redemption price per share (net assets ÷ shares outstanding) | $— | $27.22 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Cost of foreign currency $2,293
 (000).

Amounts designated as "—" are either $0 or have been rounded to $0.

\* NAV per share as of September 30, 2025 does not calculate to the stated NAV per share due to rounding of net assets and shares.

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 75

**Statements of Operations**

---

| |
|:---|
| **statements of operations (000)** |
| *For the year ended September 30, 2025* |

---

---

| | | |
|:---|:---|:---|
|  | City National <br> Rochdale <br> Government Money <br> Market Fund | City National <br> Rochdale Municipal <br> High Income Fund |
|  **INVESTMENT INCOME:** |  |  |
| &nbsp;&nbsp;&nbsp; Interest Income | $347158 | $42427 |
| &nbsp;&nbsp;&nbsp; Dividend Income |  | 511 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investment Income | 347158 | 42938 |
|  **EXPENSES:** |  |  |
| &nbsp;&nbsp;&nbsp; Investment Advisory Fees | 20316 | 3884 |
| &nbsp;&nbsp;&nbsp; Shareholder Servicing Fees — Class N(1) |  | 2472 |
| &nbsp;&nbsp;&nbsp; Shareholder Servicing Fees — Class S(1) | 9034 |  |
| &nbsp;&nbsp;&nbsp; Shareholder Servicing Fees — Servicing Class | 16308 | 706 |
| &nbsp;&nbsp;&nbsp; Administration Fees | 1627 | 504 |
| &nbsp;&nbsp;&nbsp; Professional Fees | 793 | 110 |
| &nbsp;&nbsp;&nbsp; Trustee Fees | 438 | 135 |
| &nbsp;&nbsp;&nbsp; Custody Fees | 295 | 27 |
| &nbsp;&nbsp;&nbsp; Transfer Agent Fees | 261 | 26 |
| &nbsp;&nbsp;&nbsp; Registration Fees | 135 | 15 |
| &nbsp;&nbsp;&nbsp; Printing Fees | 115 | 11 |
| &nbsp;&nbsp;&nbsp; Interest Expense on Borrowings |  | 14 |
| &nbsp;&nbsp;&nbsp; Other Expenses | 431 | 156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Expenses | 49753 | 8060 |
| &nbsp;&nbsp;&nbsp; Less, Waivers of: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investment Advisory Fees | (17051) |  |
| &nbsp;&nbsp;&nbsp; **Net Expenses**  | 32702 | 8060 |
|  **Net Investment Income**  | 314456 | 34878 |
| &nbsp;&nbsp;&nbsp; Net Realized Gain (Loss): |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments | 36 | (9943) |
| &nbsp;&nbsp;&nbsp; Net Change in Unrealized Appreciation (Depreciation) on: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments |  | (20939) |
|  **Net Increase (Decrease) in Net Assets Resulting from Operations**  | $314492 | $3996 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Includes class specific distribution
 expenses.

Amounts designated as "—" are either $0 or have been rounded to $0.

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 76

---

| |
|:---|
| **statements of operations (000)** |
| *For the year ended September 30, 2025* |

---

---

| | | |
|:---|:---|:---|
|  | City National <br> Rochdale <br> Fixed Income <br> Opportunities Fund | City National <br> Rochdale U.S. <br> Core Equity Fund |
|  **INVESTMENT INCOME:** |  |  |
| &nbsp;&nbsp;&nbsp; Dividend Income | $15715 | $4141 |
| &nbsp;&nbsp;&nbsp; Interest Income | 123027 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Less: Foreign Taxes Withheld |  | (33) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investment Income | 138742 | 4108 |
|  **EXPENSES:** |  |  |
| &nbsp;&nbsp;&nbsp; Investment Advisory Fees | 8614 | 1512 |
| &nbsp;&nbsp;&nbsp; Shareholder Servicing Fees — Class N(1) | 8614 | 1171 |
| &nbsp;&nbsp;&nbsp; Shareholder Servicing Fees — Servicing Class |  | 358 |
| &nbsp;&nbsp;&nbsp; Administration Fees | 656 | 440 |
| &nbsp;&nbsp;&nbsp; Transfer Agent Fees | 58 | 13 |
| &nbsp;&nbsp;&nbsp; Trustee Fees | 178 | 117 |
| &nbsp;&nbsp;&nbsp; Professional Fees | 513 | 70 |
| &nbsp;&nbsp;&nbsp; Custody Fees | 147 | 14 |
| &nbsp;&nbsp;&nbsp; Registration Fees | 34 | 7 |
| &nbsp;&nbsp;&nbsp; Printing Fees | 25 | 6 |
| &nbsp;&nbsp;&nbsp; Interest Expense on Borrowings | 1324 | 3 |
| &nbsp;&nbsp;&nbsp; Other Expenses | 486 | 40 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Expenses | 20649 | 3751 |
| &nbsp;&nbsp;&nbsp; Less, Waivers of: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investment Advisory Fees | (555) |  |
| &nbsp;&nbsp;&nbsp; **Net Expenses**  | 20094 | 3751 |
|  **Net Investment Income** | 118648 | 357 |
| &nbsp;&nbsp;&nbsp; Net Realized Gain (Loss) from: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments | (24301) | 48837 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts | (786) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts | (12241) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forward Currency Transactions  | 710 |  |
| &nbsp;&nbsp;&nbsp; Net Change in Unrealized Appreciation (Depreciation) on: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments | 28532 | (405) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts | (77) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts | (62) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Foreign Currency Translations</u>  | 48 |  |
|  **Net Increase (Decrease) in Net Assets Resulting from Operations** | $110471 | $48789 |

---

(1) Includes class specific distribution expenses.

Amounts designated as "—" are either $0 or have been rounded to $0.

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 77

---

| |
|:---|
| **statements of changes in net assets (000)** |
| *For the years ended September 30,* |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | City National Rochdale <br> Government Money Market Fund | City National Rochdale <br> Government Money Market Fund | City National Rochdale <br> Municipal High Income Fund | City National Rochdale <br> Municipal High Income Fund |
|  | 2025 | 2024 | 2025 | 2024 |
|  **OPERATIONS:** | **OPERATIONS:** | **OPERATIONS:** | **OPERATIONS:** | **OPERATIONS:** |
| &nbsp;&nbsp;&nbsp; Net Investment Income | $314456 | $369845 | $34878 | $41276 |
| &nbsp;&nbsp;&nbsp; Net Realized Gain (Loss) | 36 | 7 | (9943) | (23688) |
| &nbsp;&nbsp;&nbsp; Net Change in Unrealized Appreciation (Depreciation) |  |  | (20939) | 107975 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Increase (Decrease) in Net Assets Resulting from Operations | 314492 | 369852 | 3996 | 125563 |
|  **DISTRIBUTIONS:** | **DISTRIBUTIONS:** | **DISTRIBUTIONS:** | **DISTRIBUTIONS:** | **DISTRIBUTIONS:** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Class N*  |  | (6920) | (20410) | (24115) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Class S*  | (46939) | (53639) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Servicing Class*  | (267543) | (309295) | (12397) | (16099) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Distributions | (314482) | (369854) | (32807) | (40214) |
|  **CAPITAL SHARE TRANSACTIONS:(1)** | **CAPITAL SHARE TRANSACTIONS:(1)** | **CAPITAL SHARE TRANSACTIONS:(1)** | **CAPITAL SHARE TRANSACTIONS:(1)** | **CAPITAL SHARE TRANSACTIONS:(1)** |
| &nbsp;&nbsp;&nbsp; *Class N:*  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares Issued |  | 429391 | 129219 | 134532 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares Issued in Lieu of Dividends and Distributions |  | 6920 | 10073 | 12286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares Redeemed |  | (1100521) | (179139) | (270443) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Increase (Decrease) in Net Assets from Class N Share Transactions |  | (664210) | (39847) | (123625) |
| &nbsp;&nbsp;&nbsp; *Class S:*  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares Issued | 4772917 | 4109649 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares Issued in Lieu of Dividends and Distributions |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares Redeemed | (4488885) | (4348034) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Increase (Decrease) in Net Assets from Class S Share Transactions | 284032 | (238385) |  |  |
| &nbsp;&nbsp;&nbsp; *Servicing Class:* |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares Issued | 16280142 | 15193995 | 85916 | 57135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares Issued in Lieu of Dividends and Distributions | 230147 | 266028 | 1489 | 2685 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares Redeemed | (16174322) | (14732734) | (98413) | (238825) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Increase (Decrease) in Net Assets from Servicing Class Share Transactions | 335967 | 727289 | (11008) | (179005) |
|  Net Increase (Decrease) in Net Assets from Share Transactions | 619999 | (175306) | (50855) | (302630) |
|  Total Increase (Decrease) in Net Assets | 620009 | (175308) | (79666) | (217281) |
|  **NET ASSETS:** | **NET ASSETS:** | **NET ASSETS:** | **NET ASSETS:** | **NET ASSETS:** |
| &nbsp;&nbsp;&nbsp; Beginning of Year/Period | 7870331 | 8045639 | 840961 | 1058242 |
| &nbsp;&nbsp;&nbsp; End of Year/Period | $8490340 | $7870331 | $761295 | $840961 |

---

(1) See Note 9 for shares issued and redeemed.

Amounts designated as "—" are either $0 or have been rounded to $0.

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 78

---

| |
|:---|
| **statements of changes in net assets (000)** |
| *For the years ended September 30,* |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | City National Rochdale Fixed <br> Income Opportunities Fund | City National Rochdale Fixed <br> Income Opportunities Fund | City National Rochdale <br> U.S. Core Equity Fund | City National Rochdale <br> U.S. Core Equity Fund |
|  | 2025 | 2024 | 2025 | 2024 |
|  **OPERATIONS:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net Investment Income (Loss) | $118648 | $151387 | $357 | $1005 |
| &nbsp;&nbsp;&nbsp; Net Realized Gain (Loss) from: | (36618) | (70822) | 48837 | 66514 |
| &nbsp;&nbsp;&nbsp; Net Change in Unrealized Appreciation (Depreciation) | 28441 | 117312 | (405) | 39678 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Increase (Decrease) in Net Assets Resulting from Operations | 110471 | 197877 | 48789 | 107197 |
|  **DISTRIBUTIONS:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Institutional Class*  |  |  | (44) | (18) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Class N*  | (97723) | (122108) | (38005) | (25483) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Servicing Class* |  |  | (25294) | (18780) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Distributions | (97723) | (122108) | (63343) | (44281) |
|  **CAPITAL SHARE TRANSACTIONS:(1)** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; *Institutional Class:*  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares Issued |  |  | 1601 | 103 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares Issued in Lieu of Dividends and Distributions |  |  | 36 | 18 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares Redeemed |  |  | (77) | (11) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Increase (Decrease) in Net Assets from Institutional Class Share Transactions |  |  | 1560 | 110 |
| &nbsp;&nbsp;&nbsp; *Class N:*  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares Issued | 321417 | 333094 | 38136 | 40465 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares Issued in Lieu of Dividends and Distributions | 68545 | 86257 | 31134 | 21111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares Redeemed | (588859) | (803156) | (64720) | (61735) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Increase (Decrease) in Net Assets from Class N Share Transactions | (198897) | (383805) | 4550 | (159) |
| &nbsp;&nbsp;&nbsp; *Servicing Class:*  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares Issued |  |  | 21008 | 19974 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares Issued in Lieu of Dividends and Distributions |  |  | 3990 | 2142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares Redeemed |  |  | (47788) | (36888) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Increase (Decrease) in Net Assets from Servicing Class Share Transactions |  |  | (22790) | (14772) |
|  Net Increase (Decrease) in Net Assets from Share Transactions | (198897) | (383805) | (16680) | (14821) |
|  Total Increase (Decrease) in Net Assets | (186149) | (308036) | (31234) | 48095 |
|  **NET ASSETS:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Beginning of Year/Period | 1876129 | 2184165 | 412442 | 364347 |
| &nbsp;&nbsp;&nbsp; End of Year/Period | $1689980 | $1876129 | $381208 | $412442 |

---

(1) See Note 9 for shares issued and redeemed.

Amounts designated as "—" are either $0 or have been rounded to $0.

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 79

---

| |
|:---|
| **statement of cash flows (000)** |
| *For the year ended September 30, 2025* |

---

---

| | |
|:---|:---|
|  | City National <br> Rochdale <br> Fixed Income <br> Opportunities Fund |
|  **Cash Flows from Operating Activities:** |  |
|  Net increase in net assets from operations | $110471 |
|  Adjustments to reconcile net increase in net assets resulting from operations to net cash provided by operating activities: |  |
| &nbsp;&nbsp;&nbsp; Purchase of investment securities | (1709729) |
| &nbsp;&nbsp;&nbsp; Proceeds from disposition of investment securities | 1926863 |
| &nbsp;&nbsp;&nbsp; Amortization (accretion of market discount) | (10528) |
| &nbsp;&nbsp;&nbsp; Net realized loss on investments, futures contracts, forward foreign currency contracts and foreign currency transactions | 36618 |
| &nbsp;&nbsp;&nbsp; Net change in unrealized appreciation on investments, forward foreign currency contracts, foreign currency transactions and futures contracts | (28441) |
| &nbsp;&nbsp;&nbsp; **Changes in assets:** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend and interest receivable | 1870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reclaim receivable | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivable for investment securities sold | 14219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variation Margin | 45 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized gain on forward foreign currency contracts | 90 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prepaid expenses | (3) |
| &nbsp;&nbsp;&nbsp; **Changes in liabilities:** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payable for investment securities purchased | (45402) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variation margin payable | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized loss on forward foreign currency contracts | (28) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investment advisory fees payable | (165) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shareholder servicing and distribution fees payable | (76) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Administrative fees payable | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trustee fees payable | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accrued expenses | 51 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Cash Provided by Operating Activities | 295878 |
|  **Cash Flows from Financing Activities:** |  |
| &nbsp;&nbsp;&nbsp; Proceeds from shares issued | 321948 |
| &nbsp;&nbsp;&nbsp; Cost of shares redeemed | (588782) |
| &nbsp;&nbsp;&nbsp; Distributions | (29178) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net cash used in financing activities | (296012) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net change in cash | (134) |
| &nbsp;&nbsp;&nbsp; Cash at beginning of year | 2864 |
| &nbsp;&nbsp;&nbsp; Cash at end of year | $2730 |
|  **Non-cash operating and financing activities:** |  |
| &nbsp;&nbsp;&nbsp; Reinvestments of dividends and distributions | $68545 |

---

The following table provides a reconciliation of cash and foreign currency reported on the statement of assets and liabilities to the total of such amounts shown in this statement of cash flows.

---

| | |
|:---|:---|
|  Balance at the end of the year |  |
| &nbsp;&nbsp;&nbsp; Cash | $344 |
| &nbsp;&nbsp;&nbsp; Foreign Currency | 2322 |
| &nbsp;&nbsp;&nbsp; Restricted Cash | 64 |
|  Total Cash and Foreign Currency | $2730 |
|  **Supplemental Disclosure of Cash Flow Information:** |  |
| &nbsp;&nbsp;&nbsp; Interest Paid | $1324 |

---

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 80

*This page intentionally left blank.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 81

---

| |
|:---|
| **financial highlights** |
| *For a Share Outstanding Throughout Each Period<br> For the year ended September 30,* |

---

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Net Asset <br> Value <br> Beginning <br> of Period | Net <br> Investment <br> Income† | Net <br> Realized and <br> Unrealized <br> Gains <br> (Losses) on <br> Securities | Dividends <br> from Net <br> Investment <br> Income | Distributions <br> from Realized <br> Capital Gains | Net Asset <br> Value End <br> of Period | Total <br> Return‡ | Net Assets End <br> of Period (000) | Ratio of <br> Expenses to <br> Average Net <br> Assets<sup>(1)</sup> | Ratio of Net <br> Investment <br> Income to <br> Average Net <br> Assets<sup>(1)</sup> | Ratio of Expenses <br> to Average Net <br> Assets (Excluding <br> Waivers & <br> Recovered Fees) | Portfolio <br> Turnover <br> Rate |
| **City National Rochdale Government Money Market Fund** | **City National Rochdale Government Money Market Fund** | **City National Rochdale Government Money Market Fund** | **City National Rochdale Government Money Market Fund** | **City National Rochdale Government Money Market Fund** | **City National Rochdale Government Money Market Fund** | **City National Rochdale Government Money Market Fund** | **City National Rochdale Government Money Market Fund** | **City National Rochdale Government Money Market Fund** | **City National Rochdale Government Money Market Fund** | **City National Rochdale Government Money Market Fund** | **City National Rochdale Government Money Market Fund** | **City National Rochdale Government Money Market Fund** |
| Class N (commenced operations on June 21, 1999) | Class N (commenced operations on June 21, 1999) | Class N (commenced operations on June 21, 1999) | Class N (commenced operations on June 21, 1999) | Class N (commenced operations on June 21, 1999) | Class N (commenced operations on June 21, 1999) | Class N (commenced operations on June 21, 1999) | Class N (commenced operations on June 21, 1999) | Class N (commenced operations on June 21, 1999) | Class N (commenced operations on June 21, 1999) | Class N (commenced operations on June 21, 1999) | Class N (commenced operations on June 21, 1999) | Class N (commenced operations on June 21, 1999) |
| &nbsp;&nbsp; 2025 | $1.00 | $0.038 | $0.000 \* | $(0.038) |  | $1.00 | 3.84% | $10 | 0.66% | 3.78% | 0.88% | —% |
| &nbsp;&nbsp; 2024 | 1.00 | 0.047 | 0.000 \* | (0.047) |  | 1.00 | 4.84 | 10 | 0.63 | 4.71 | 0.85 |  |
| &nbsp;&nbsp; 2023 | 1.00 | 0.041 | (0.001) | (0.040) |  | 1.00 | 4.00 | 664234 | 0.65 | 4.07 | 0.87 |  |
| &nbsp;&nbsp; 2022 | 1.00 | 0.004 | 0.000 \* | (0.004) |  | 1.00 | 0.39 | 347551 | 0.29 | 0.30 | 0.86 |  |
| &nbsp;&nbsp; 2021 | 1.00 | 0.000 \* | 0.000 \* | (0.000) |  | 1.00 | 0.01 | 642240 | 0.07 | 0.01 | 0.87 |  |
| Class S (commenced operations on October 6, 1999) | Class S (commenced operations on October 6, 1999) | Class S (commenced operations on October 6, 1999) | Class S (commenced operations on October 6, 1999) | Class S (commenced operations on October 6, 1999) | Class S (commenced operations on October 6, 1999) | Class S (commenced operations on October 6, 1999) | Class S (commenced operations on October 6, 1999) | Class S (commenced operations on October 6, 1999) | Class S (commenced operations on October 6, 1999) | Class S (commenced operations on October 6, 1999) | Class S (commenced operations on October 6, 1999) | Class S (commenced operations on October 6, 1999) |
| &nbsp;&nbsp; 2025 | $1.00 | $0.036 | $0.000 \* | $(0.036) |  | $1.00 | 3.70% | $1516400 | 0.79% | 3.63% | 1.01% | —% |
| &nbsp;&nbsp; 2024 | 1.00 | 0.046 | 0.000 \* | (0.046) |  | 1.00 | 4.68 | 1232366 | 0.79 | 4.58 | 1.01 |  |
| &nbsp;&nbsp; 2023 | 1.00 | 0.039 | (0.001) | (0.038) |  | 1.00 | 3.85 | 1470759 | 0.80 | 3.93 | 1.02 |  |
| &nbsp;&nbsp; 2022 | 1.00 | 0.003 |  | (0.003) |  | 1.00 | 0.34 | 725394 | 0.39 | 0.35 | 1.02 |  |
| &nbsp;&nbsp; 2021 | 1.00 | 0.000 \* | 0.000 \* | (0.000) |  | 1.00 | 0.01 | 689506 | 0.07 | 0.01 | 1.02 |  |
| Servicing Class (commenced operations on April 3, 2000) | Servicing Class (commenced operations on April 3, 2000) | Servicing Class (commenced operations on April 3, 2000) | Servicing Class (commenced operations on April 3, 2000) | Servicing Class (commenced operations on April 3, 2000) | Servicing Class (commenced operations on April 3, 2000) | Servicing Class (commenced operations on April 3, 2000) | Servicing Class (commenced operations on April 3, 2000) | Servicing Class (commenced operations on April 3, 2000) | Servicing Class (commenced operations on April 3, 2000) | Servicing Class (commenced operations on April 3, 2000) | Servicing Class (commenced operations on April 3, 2000) | Servicing Class (commenced operations on April 3, 2000) |
| &nbsp;&nbsp; 2025 | $1.00 | $0.041 | $0.000 \* | $(0.041) |  | $1.00 | 4.16% | $6973930 | 0.34% | 4.10% | 0.56% | —% |
| &nbsp;&nbsp; 2024 | 1.00 | 0.050 | 0.000 \* | (0.050) |  | 1.00 | 5.15 | 6637955 | 0.34 | 5.03 | 0.56 |  |
| &nbsp;&nbsp; 2023 | 1.00 | 0.043 | (0.001) | (0.042) |  | 1.00 | 4.31 | 5910646 | 0.35 | 4.33 | 0.57 |  |
| &nbsp;&nbsp; 2022 | 1.00 | 0.005 | 0.000 \* | (0.005) |  | 1.00 | 0.51 | 3487258 | 0.21 | 0.47 | 0.57 |  |
| &nbsp;&nbsp; 2021 | 1.00 | 0.000 \* | 0.000 \* | (0.000 |  | 1.00 | 0.02 | 3440097 | 0.07 | 0.01 | 0.57 |  |
| **City National Rochdale Municipal High Income Fund** | **City National Rochdale Municipal High Income Fund** | **City National Rochdale Municipal High Income Fund** | **City National Rochdale Municipal High Income Fund** | **City National Rochdale Municipal High Income Fund** | **City National Rochdale Municipal High Income Fund** | **City National Rochdale Municipal High Income Fund** | **City National Rochdale Municipal High Income Fund** | **City National Rochdale Municipal High Income Fund** | **City National Rochdale Municipal High Income Fund** | **City National Rochdale Municipal High Income Fund** | **City National Rochdale Municipal High Income Fund** | **City National Rochdale Municipal High Income Fund** |
| Class N (commenced operations on December 30, 2013) | Class N (commenced operations on December 30, 2013) | Class N (commenced operations on December 30, 2013) | Class N (commenced operations on December 30, 2013) | Class N (commenced operations on December 30, 2013) | Class N (commenced operations on December 30, 2013) | Class N (commenced operations on December 30, 2013) | Class N (commenced operations on December 30, 2013) | Class N (commenced operations on December 30, 2013) | Class N (commenced operations on December 30, 2013) | Class N (commenced operations on December 30, 2013) | Class N (commenced operations on December 30, 2013) | Class N (commenced operations on December 30, 2013) |
| &nbsp;&nbsp; 2025 | $9.48 | $0.40 | $(0.36) | $(0.38) |  | $9.14 | 0.48% | $486237 | 1.13% | 4.39% | 1.13% | 23% |
| &nbsp;&nbsp; 2024 | 8.67 | 0.39 | 0.81 | (0.39) |  | 9.48 | 14.04 | 544405 | 1.10 | 4.34 | 1.10 | 18 |
| &nbsp;&nbsp; 2023 | 8.97 | 0.36 | (0.31) | (0.35) |  | 8.67 | 0.44 | 616138 | 1.08 | 3.99 | 1.08 | 25 |
| &nbsp;&nbsp; 2022 | 11.07 | 0.31 | (2.10) | (0.31) |  | 8.97 | (16.47) | 835922 | 1.07 | 2.97 | 1.07 | 48 |
| &nbsp;&nbsp; 2021 | 10.61 | 0.33 | 0.46 | (0.33) |  | 11.07 | 7.51 | 1235195 | 1.07 | 3.03 | 1.07 | 15 |
| Servicing Class (commenced operations on December 30, 2013) | Servicing Class (commenced operations on December 30, 2013) | Servicing Class (commenced operations on December 30, 2013) | Servicing Class (commenced operations on December 30, 2013) | Servicing Class (commenced operations on December 30, 2013) | Servicing Class (commenced operations on December 30, 2013) | Servicing Class (commenced operations on December 30, 2013) | Servicing Class (commenced operations on December 30, 2013) | Servicing Class (commenced operations on December 30, 2013) | Servicing Class (commenced operations on December 30, 2013) | Servicing Class (commenced operations on December 30, 2013) | Servicing Class (commenced operations on December 30, 2013) | Servicing Class (commenced operations on December 30, 2013) |
| &nbsp;&nbsp; 2025 | $9.48 | $0.43 | $(0.36) | $(0.40) |  | $9.15 | 0.84% | $275058 | 0.88% | 4.65% | 0.88% | 23% |
| &nbsp;&nbsp; 2024 | 8.67 | 0.42 | 0.80 | (0.41) |  | 9.48 | 14.32 | 296556 | 0.85 | 4.59 | 0.85 | 18 |
| &nbsp;&nbsp; 2023 | 8.98 | 0.39 | (0.33) | (0.37) |  | 8.67 | 0.58 | 442104 | 0.84 | 4.24 | 0.84 | 25 |
| &nbsp;&nbsp; 2022 | 11.08 | 0.33 | (2.10) | (0.33) |  | 8.98 | (16.24) | 592435 | 0.82 | 3.22 | 0.82 | 48 |
| &nbsp;&nbsp; 2021 | 10.62 | 0.36 | 0.46 | (0.36) |  | 11.08 | 7.77 | 823230 | 0.82 | 3.27 | 0.82 | 15 |

---

\* Amount represents less than $0.001. 

&nbsp;&nbsp;&nbsp;&nbsp;† Per share calculations are
 based on Average Shares outstanding throughout the period.

&nbsp;&nbsp;&nbsp;&nbsp;‡ Returns are for the period
 indicated and have not been annualized. Fee waivers are in effect; if they had not been in effect, performance would have been lower.
 Returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

&nbsp;&nbsp;&nbsp;&nbsp;(1) Ratio includes waivers and
 previously waived investment advisory fees recovered. The impact of the recovered fees may cause a higher net expense ratio.

Amounts designated as "—" are either $0 or have been rounded to $0.

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 82

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Net Asset <br> Value <br> Beginning <br> of Period | Net <br> Investment <br> Income† | Net <br> Realized <br> and <br> Unrealized <br> Gains <br> (Losses) on <br> Securities | Dividends <br> from Net <br> Investment <br> Income | Distributions <br> from <br> Realized <br> Capital Gains | Distributions <br> from Return <br> of Capital | Net Asset <br> Value End <br> of Period | Total <br> Return‡ | Net Assets <br> End of <br> Period (000) | Ratio of <br> Expenses <br> to Average <br> Net <br> Assets<sup>(1)</sup> | Ratio <br> of Net <br> Investment <br> Income to <br> Average <br> Net <br> Assets<sup>(1)</sup> | Ratio of <br> Expenses <br> to Average <br> Net Assets <br> (Excluding <br> Waivers & <br> Recovered <br> Fees) | Portfolio <br> Turnover <br> Rate |
| **City National Rochdale Fixed Income Opportunities Fund** | **City National Rochdale Fixed Income Opportunities Fund** | **City National Rochdale Fixed Income Opportunities Fund** | **City National Rochdale Fixed Income Opportunities Fund** | **City National Rochdale Fixed Income Opportunities Fund** | **City National Rochdale Fixed Income Opportunities Fund** | **City National Rochdale Fixed Income Opportunities Fund** | **City National Rochdale Fixed Income Opportunities Fund** | **City National Rochdale Fixed Income Opportunities Fund** | **City National Rochdale Fixed Income Opportunities Fund** | **City National Rochdale Fixed Income Opportunities Fund** | **City National Rochdale Fixed Income Opportunities Fund** | **City National Rochdale Fixed Income Opportunities Fund** |  |
| Class N (commenced operations on July 1, 2009) | Class N (commenced operations on July 1, 2009) | Class N (commenced operations on July 1, 2009) | Class N (commenced operations on July 1, 2009) | Class N (commenced operations on July 1, 2009) | Class N (commenced operations on July 1, 2009) | Class N (commenced operations on July 1, 2009) | Class N (commenced operations on July 1, 2009) | Class N (commenced operations on July 1, 2009) | Class N (commenced operations on July 1, 2009) | Class N (commenced operations on July 1, 2009) | Class N (commenced operations on July 1, 2009) | Class N (commenced operations on July 1, 2009) |  |
| &nbsp;&nbsp; 2025 | $19.66 | $1.35 | $(0.06) | $(1.12) | $— | $— | $19.83 | 6.77% | $1689980 | 1.17% | 6.88% | 1.20% | 40% |
| &nbsp;&nbsp; 2024 | 18.96 | 1.48 | 0.44 | (1.22) |  |  | 19.66 | 10.32 | 1876129 | 1.14 | 7.57 | 1.14 | 34 |
| &nbsp;&nbsp; 2023 | 18.60 | 1.34 | 0.71 | (1.69) |  |  | 18.96 | 11.44 | 2184165 | 1.13 | 7.06 | 1.13 | 63 |
| &nbsp;&nbsp; 2022\* | 23.39 | 1.16 | (4.62) | (1.33) |  |  | 18.60 | (15.23) | 3070638 | 1.09<sup>(2)</sup> | 5.44 | 1.09 | 94 |
| &nbsp;&nbsp; 2021\* | 22.57 | 1.21 | 1.04 | (1.43) |  |  | 23.39 | 10.14 | 4111912 | 1.10<sup>(2)</sup> | 5.14 | 1.10 | 117 |
| **City National Rochdale U.S. Core Equity Fund** | **City National Rochdale U.S. Core Equity Fund** | **City National Rochdale U.S. Core Equity Fund** | **City National Rochdale U.S. Core Equity Fund** | **City National Rochdale U.S. Core Equity Fund** | **City National Rochdale U.S. Core Equity Fund** | **City National Rochdale U.S. Core Equity Fund** | **City National Rochdale U.S. Core Equity Fund** | **City National Rochdale U.S. Core Equity Fund** | **City National Rochdale U.S. Core Equity Fund** | **City National Rochdale U.S. Core Equity Fund** | **City National Rochdale U.S. Core Equity Fund** | **City National Rochdale U.S. Core Equity Fund** | **City National Rochdale U.S. Core Equity Fund** |
| Institutional Class (commenced operations on December 3, 2012) | Institutional Class (commenced operations on December 3, 2012) | Institutional Class (commenced operations on December 3, 2012) | Institutional Class (commenced operations on December 3, 2012) | Institutional Class (commenced operations on December 3, 2012) | Institutional Class (commenced operations on December 3, 2012) | Institutional Class (commenced operations on December 3, 2012) | Institutional Class (commenced operations on December 3, 2012) | Institutional Class (commenced operations on December 3, 2012) | Institutional Class (commenced operations on December 3, 2012) | Institutional Class (commenced operations on December 3, 2012) | Institutional Class (commenced operations on December 3, 2012) | Institutional Class (commenced operations on December 3, 2012) |  |
| &nbsp;&nbsp; 2025 | $28.44 | $0.11 | $3.45 | $(0.11) | (4.41) | $— | $27.48 | 14.22% | $1935 | 0.59% | 0.42% | 0.59% | 5% |
| &nbsp;&nbsp; 2024 | 24.21 | 0.17 | 7.16 | (0.20) | (2.90) |  | 28.44 | 32.69 | 280 | 0.57 | 0.64 | 0.57 | 20 |
| &nbsp;&nbsp; 2023 | 20.66 | 0.19 | 3.98 | (0.16) | (0.46) |  | 24.21 | 20.43 | 138 | 0.54 | 0.81 | 0.54 | 28 |
| &nbsp;&nbsp; 2022 | 26.49 | 0.17 | (4.67) | (0.18) | (1.15) |  | 20.66 | (18.18) | 126 | 0.52 | 0.70 | 0.52 | 28 |
| &nbsp;&nbsp; 2021 | 20.99 | 0.15 | 5.45 | (0.10) |  |  | 26.49 | 26.76 | 148 | 0.51 | 0.62 | 0.51 | 13 |
| Class N (commenced operations on December 3, 2012) | Class N (commenced operations on December 3, 2012) | Class N (commenced operations on December 3, 2012) | Class N (commenced operations on December 3, 2012) | Class N (commenced operations on December 3, 2012) | Class N (commenced operations on December 3, 2012) | Class N (commenced operations on December 3, 2012) | Class N (commenced operations on December 3, 2012) | Class N (commenced operations on December 3, 2012) | Class N (commenced operations on December 3, 2012) | Class N (commenced operations on December 3, 2012) | Class N (commenced operations on December 3, 2012) | Class N (commenced operations on December 3, 2012) |  |
| &nbsp;&nbsp; 2025 | $28.11 | $— | $3.38 | $(0.01) | (4.41) | $— | $27.07 | 13.67% | $243322 | 1.09% | 0.00% | 1.09% | 5% |
| &nbsp;&nbsp; 2024 | 23.97 | 0.04 | 7.08 | (0.08) | (2.90) |  | 28.11 | 32.03 | 246302 | 1.07 | 0.16 | 1.07 | 20 |
| &nbsp;&nbsp; 2023 | 20.46 | 0.07 | 3.94 | (0.04) | (0.46) |  | 23.97 | 19.85 | 209330 | 1.04 | 0.31 | 1.04 | 28 |
| &nbsp;&nbsp; 2022 | 26.25 | 0.04 | (4.62) | (0.06) | (1.15) |  | 20.46 | (18.61) | 184503 | 1.02 | 0.17 | 1.02 | 28 |
| &nbsp;&nbsp; 2021 | 20.73 | 0.02 | 5.53 | (0.03) |  |  | 26.25 | 26.79 | 230767 | 1.01 | 0.07 | 1.01 | 13 |
| Servicing Class (commenced operations on December 3, 2012) | Servicing Class (commenced operations on December 3, 2012) | Servicing Class (commenced operations on December 3, 2012) | Servicing Class (commenced operations on December 3, 2012) | Servicing Class (commenced operations on December 3, 2012) | Servicing Class (commenced operations on December 3, 2012) | Servicing Class (commenced operations on December 3, 2012) | Servicing Class (commenced operations on December 3, 2012) | Servicing Class (commenced operations on December 3, 2012) | Servicing Class (commenced operations on December 3, 2012) | Servicing Class (commenced operations on December 3, 2012) | Servicing Class (commenced operations on December 3, 2012) | Servicing Class (commenced operations on December 3, 2012) |  |
| &nbsp;&nbsp; 2025 | $28.23 | $0.06 | $3.40 | $(0.06) | (4.41) | $— | $27.22 | 13.92% | $135951 | 0.84% | 0.25% | 0.84% | 5% |
| &nbsp;&nbsp; 2024 | 24.05 | 0.11 | 7.11 | (0.14) | (2.90) |  | 28.23 | 32.38 | 165860 | 0.82 | 0.41 | 0.82 | 20 |
| &nbsp;&nbsp; 2023 | 20.52 | 0.13 | 3.96 | (0.10) | (0.46) |  | 24.05 | 20.18 | 154879 | 0.79 | 0.57 | 0.79 | 28 |
| &nbsp;&nbsp; 2022 | 26.33 | 0.10 | (4.64) | (0.12) | (1.15) |  | 20.52 | (18.42) | 143986 | 0.77 | 0.42 | 0.77 | 28 |
| &nbsp;&nbsp; 2021 | 20.77 | 0.08 | 5.54 | (0.06) |  |  | 26.33 | 27.13 | 187735 | 0.76 | 0.32 | 0.76 | 13 |

---

&nbsp;&nbsp;&nbsp;&nbsp;† Per share calculations are
 based on Average Shares outstanding throughout the period.

&nbsp;&nbsp;&nbsp;&nbsp;‡ Returns are for the period
 indicated and have not been annualized. Fee waivers are in effect; if they had not been in effect, performance would have been lower.
 Returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

\* Includes Consolidated investments in Irish Subsidiary. See Note 1 in the Notes to Financial Statements.

&nbsp;&nbsp;&nbsp;&nbsp;(1) Ratio includes waivers and
 previously waived investment advisory fees recovered. The impact of the recovered fees may cause a higher net expense ratio.

&nbsp;&nbsp;&nbsp;&nbsp;(2) The expense ratio includes
 acquired fund fee expenses from the investment in the Irish Subsidiary. Had this expense been excluded, the ratios would have been 1.09%
 and 1.09%, respectively.

Amounts designated as "—" are either $0 or have been rounded to $0.

*See accompanying notes to financial statements.*

CITY NATIONAL ROCHDALE FUNDS \| PAGE 83

---

| |
|:---|
| **notes to financial statements** |
| *September 30, 2025*  |

---

&nbsp;&nbsp;&nbsp;&nbsp;**1.** **ORGANIZATION:** 

City National Rochdale Funds, a Delaware statutory trust (the "Trust"), is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company currently offering the following four series (each a "Fund" and collectively, the "Funds"): City National Rochdale Government Money Market Fund ("Government Money Market Fund"); City National Rochdale Municipal High Income Fund ("Municipal High Income Fund") and City National Rochdale Fixed Income Opportunities Fund ("Fixed Income Opportunities Fund") (collectively, the "Fixed Income Funds"); and City National Rochdale U.S. Core Equity Fund ("U.S. Core Equity Fund"). The Trust 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".

The investment objective of the Government Money Market Fund is to preserve your principal and maintain a high degree of liquidity while providing current income. The investment objective of the Municipal High Income Fund is to provide a high level of current income that is not subject to federal income tax. The investment objective of the Fixed Income Opportunities Fund is to provide a high level of current income. The investment objective of the U.S. Core Equity Fund is to provide long-term capital appreciation.

The Trust is registered to offer: Class N shares of the Funds; Servicing Class shares of the Funds except for Fixed Income Opportunities Fund; Institutional Class shares of U.S. Core Equity Fund; Class S shares of the Government Money Market Fund.

The assets of each Fund are segregated, and a shareholder's interest is limited to the Fund in which shares are held. Each Fund is diversified.

On October 1, 2022, City National Rochdale Income Opportunities (Ireland) Limited, a wholly owned subsidiary of the Fixed Income Opportunities Fund, transferred its holdings to CNR FIOF Investments (Ireland) Limited, a company organized under the laws of Ireland (the "Irish Company"), and began the process of dissolving. The Irish Company is a "qualifying company" as defined in Section 110 of the Irish Taxes Consolidation Act 1997, as amended. As a result of this restructuring, the Irish Company issued a profit participation note to the Fixed Income Opportunities Fund, through which the Fund benefits from the profits of the transferred holdings. The Fixed Income Opportunities Fund does not hold an equity interest or voting rights in the Irish Company, nor does it have the ability to appoint directors. Consequently, the Fixed Income Opportunities Fund does not consolidate the operations of the Irish Company into the Fund's financial statements, including in the Annual Financials and Other Information for the year ended September 30, 2025. In June 2025, the Irish Company's Board of Directors appointed Fortis Advisory as liquidator, and on July 17, 2025, the Irish Company officially entered liquidation.

&nbsp;&nbsp;&nbsp;&nbsp;**2.** **SIGNIFICANT ACCOUNTING POLICIES:** 

The following is a summary of significant accounting policies followed by the Funds.

**Use of Estimates** – The Funds are investment companies that conform with accounting principles generally accepted in the United States of America ("GAAP"). The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates.

**Security Valuation** – Securities listed on a securities exchange, market or automated quotation system for which quotations are readily available (except for securities traded on NASDAQ) are valued at the last quoted sale price on the primary exchange or market (foreign or domestic) on which they are traded, or, if there is no such reported sale, at the most recent quoted bid price. For securities traded on NASDAQ, the NASDAQ Official Closing Price is used. If available, debt securities are priced based upon valuations provided by independent, third-party pricing agents. Such values generally reflect the last reported sales price if the security is actively traded. The third-party pricing agents may also value debt securities at an evaluated bid price by employing methodologies that utilize actual market transactions, broker-supplied valuations, or other methodologies designed to identify the market value for such securities. Debt obligations with remaining maturities of 60 days or less may be valued at their amortized cost, if the Fair Value Committee (the "Committee") of City National Rochdale, LLC ("City National Rochdale" or the "Adviser") concludes that such amortized cost approximates market value after taking into account factors such as credit, liquidity and interest rate conditions as well as issuer specific factors. Investments in underlying registered investment companies are valued at their respective daily net asset value. The prices for foreign securities are reported in local currency and converted to U.S. Dollars using currency exchange rates. Prices for most securities held by the Funds are provided daily by recognized independent pricing agents. If a security price cannot be obtained from an independent, third-party pricing agent, the Funds seek to obtain a bid price from one or more independent

CITY NATIONAL ROCHDALE FUNDS \| PAGE 84

brokers. Investments held in Limited Partnerships and Non-Listed Business Development Companies are valued using the net asset value as a practical expedient.

Securities for which market prices are not "readily available" are valued in accordance with fair value procedures (the "Fair Value Procedures") approved by the Trust's Board of Trustees (the "Board"). The Funds' Fair Value Procedures are implemented through the Committee designated by the Adviser. Some of the more common reasons that may necessitate that a security be valued using the Fair Value Procedures include: the security's trading has been halted or suspended; the security has been de-listed from a national exchange; the security's primary trading market is temporarily closed at a time when, under normal conditions, it would be open; for international securities, market events that occur after the close of the foreign markets that make closing prices not representative of fair value; or the security's primary pricing source is not able or willing to provide a price. When a security is valued in accordance with the Fair Value Procedures, the Committee will determine the value after taking into consideration relevant information reasonably available to the Committee.

In accordance with GAAP, the objective of a fair value measurement is to determine the price that would be received to sell an asset or paid to transfer a liability, in an orderly transaction between market participants at the measurement date (an exit price). The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below:

● Level 1 — Unadjusted quoted prices in active markets for identical, unrestricted assets or liabilities that the Funds have the ability to access at the measurement date;

● Level 2 — Quoted prices in inactive markets, or inputs that are observable (either directly or indirectly) for substantially the full term of the asset or liability; and

● Level 3 — Prices, inputs or proprietary modeling techniques which are both significant to the fair value measurement and unobservable (supported by little or no market activity).

Investments are classified within the level of the lowest significant input considered in determining fair value. Investments classified within Level 3, the fair value measurement of which considers several inputs, may include Level 1 or Level 2 inputs as components of the overall fair value measurement.

For the year ended September 30, 2025, there have been no changes to the Funds' fair value methodologies. For more details on the investment classifications, refer to the Schedules of Investments.

**Security Transactions and Related Income** – Security transactions are accounted for on the trade date of the security purchase or sale. Costs used in determining the net realized capital gains or losses on the sale of securities are those of the specific securities sold. Interest income is recognized on an accrual basis and dividend income is recognized on the ex-dividend date. Purchase discounts and premiums on securities held by the Funds are accreted and amortized to maturity using the scientific method, which approximates the effective interest method over the holding period of a security, except for the Government Money Market Fund, which uses a straight line basis which is not materially different from the scientific method.

**Repurchase Agreements** – Securities pledged as collateral for repurchase agreements are held by BNY Mellon until maturity of the repurchase agreements. Provisions of the agreements and procedures adopted by the investment adviser require that the market value of the collateral, including accrued interest thereon, is sufficient in the event of default by the counterparty. The Funds also invest in tri-party repurchase agreements. Securities held as collateral for tri-party repurchase agreements are maintained by the broker's custodian bank in a segregated account until maturity of the repurchase agreements. Provisions of the agreements require that the market value of the collateral, including accrued interest thereon, is sufficient in the event of default. If the counterparty defaults and the value of the collateral declines or if the counterparty enters into an insolvency proceeding, realization of the collateral by a Fund may be delayed or limited.

**TBA Transactions** – The Funds may engage in "to be announced" ("TBA") security transactions. Such transactions involve a commitment by a Fund to purchase or sell securities for a predetermined price or yield, with payment and delivery taking place beyond the customary settlement period. The Funds record TBA securities on the trade date and maintain security positions such that sufficient liquid assets will be available to make payments for the securities purchased.

**Expense Allocation** – Common expenses incurred by the Funds are allocated among the Funds (i) based upon relative average daily net assets, (ii) as incurred on a specific identification basis, (iii) equally, or (iv) based upon a combination of the above, depending on the nature of the expenditure.

CITY NATIONAL ROCHDALE FUNDS \| PAGE 85

---

| |
|:---|
| **notes to financial statements** |
| *September 30, 2025*  |

---

**Classes** – Class-specific expenses are borne by that class. Income, non class-specific expenses, and realized and unrealized gains/losses are allocated to the respective class on the basis of relative net asset value each day.

**Dividends and Distributions to Shareholders** – Dividends from net investment income are declared daily and paid to shareholders monthly for the Government Money Market Fund and Municipal High Income Fund. Dividends from net investment income are declared and paid quarterly for the Fixed Income Opportunities Fund and the U.S. Core Equity Fund. Distributions from net realized capital gains are distributed to shareholders at least annually. Dividends and distributions are recorded on the ex-dividend date.

**Foreign Currency** – Values of investments denominated in foreign currencies are converted into U.S. Dollars using the spot market rate of exchange at the time of valuation. Purchases and sales of investments and dividend and interest income are translated into U.S. Dollars using the spot market rate of exchange prevailing on the respective dates of such transactions. The Funds do not isolate the portion of gains and losses on investments that is due to changes in the foreign exchange rates from that which is due to changes in market prices of investments. Foreign securities and currency transactions may involve certain considerations and risks not typically associated with those of domestic origin.

**Forward Foreign Currency Contracts** – A forward foreign currency contract is an agreement between two parties to buy or sell a currency at a set price on a future date. Forward contracts are marked to market daily and the change in market value is recorded as an unrealized gain/(loss) on forward foreign currency contracts in the Statements of Assets and Liabilities. When a contract is closed, a Fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed, which is included within the realized gain/(loss) on foreign currency transactions in the Statements of Operations. A Fund could be at risk if the counterparties are unable to meet the terms of the contracts or if the value of the currency changes unfavorably.

To reduce counterparty risk with respect to over-the-counter ("OTC") transactions, the Fixed Income Opportunities Fund has entered into master netting arrangements, established within the Fixed Income Opportunities Fund's International Swaps and Derivatives Association, Inc. ("ISDA") master agreements, which allow the Fixed Income Opportunities Fund to make (or to have an entitlement to receive) a single net payment in the event of default (close-out netting) for outstanding payables and receivables with respect to certain OTC positions in forward foreign currency contracts for each individual counterparty. In addition, the Fixed Income Opportunities Fund may require that certain counterparties post cash and/or securities in collateral accounts to cover their net payment obligations for those derivative contracts subject to ISDA master agreements. If the counterparty fails to perform under these agreements, the cash and/or securities will be made available to the Fixed Income Opportunities Fund.

For financial reporting purposes, the Fixed Income Opportunities Fund does not offset derivative assets and derivative liabilities that are subject to netting arrangements in the Statements of Assets and Liabilities.

Bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on, or prohibitions against, the right of offset in bankruptcy, insolvency or other events.

Collateral terms are contract specific for OTC derivatives. For derivatives traded under an ISDA master agreement, the collateral requirements are typically calculated by netting the marked to market amount of each transaction under such agreement and comparing that amount to the value of any collateral currently pledged by the Fixed Income Opportunities Fund, or the counterparty.

For financial reporting purposes, cash collateral that has been pledged to cover obligations of the Fixed Income Opportunities Fund, if any, is reported separately on the Statements of Assets and Liabilities as cash pledged as collateral. Non-cash collateral pledged by the Fixed Income Opportunities Fund, if any, is noted in the Schedules of Investments. Generally, the amount of collateral due from or to a party must exceed a minimum transfer amount threshold before a transfer has to be made. To the extent the amounts due to the Fixed Income Opportunities Fund from the Fund's counterparties are not fully collateralized, contractually or otherwise, the Fixed Income Opportunities Fund bears the risk of loss from counterparty nonperformance.

**Futures Contracts** – To the extent consistent with their investment objective and strategies, certain Funds may use futures contracts for tactical hedging purposes as well as to enhance the Funds' returns. Initial margin deposits of cash or securities are made upon entering into futures contracts. The contracts are marked to market daily and the resulting changes in value are accounted for as unrealized gains or losses. Variation margin payments are paid or received, depending upon whether unrealized gains or losses are incurred. When a contract is closed, a Fund records a realized gain or loss equal to the difference between the proceeds from (or cost of) the closing transaction and the amount invested in the contract.

Risks of entering into futures contracts include the possibility that there will be an imperfect price correlation between the futures contract and the underlying securities. It is possible that a lack of liquidity for futures contracts could exist in the secondary

CITY NATIONAL ROCHDALE FUNDS \| PAGE 86

market, resulting in an inability to close a position prior to its maturity date. Futures contracts also involve the risk that a Fund could lose more than the original margin deposit required to initiate a futures transaction.

Finally, the risk exists that losses could exceed amounts disclosed on the Statements of Assets and Liabilities. Refer to each Fund's Schedule of Investments for details regarding open futures contracts as of September 30, 2025, if applicable.

**Restricted Securities** – Restricted securities include securities that have not been registered under the Securities Act of 1933, as amended, and securities that are subject to restrictions on resale.

A Fund may invest in restricted securities that are consistent with the Fund's investment objective and investment strategies. While restricted securities are generally presumed to be illiquid, it may be determined that a particular restricted security is liquid. In some cases, the issuer of restricted securities has agreed to register such securities for resale, at the issuer's expense either upon demand by a Fund or in connection with another registered offering of the securities. It is possible that the estimated value may differ significantly from the amount that might ultimately be realized in the near term, and the difference could be material.

**Investments in Affiliated Securities** – The Fixed Income Funds and U.S. Core Equity Fund may invest excess cash in the Government Money Market Fund, the Municipal High Income Fund and/or the Fixed Income Opportunities Fund. For the year ended September 30, 2025, no such investments were made.

**Commitments and Contingencies** – As of September 30, 2025, the Fixed Income Opportunities Fund has contractual unfunded commitments to provide additional funding of $57.6 million to certain investments. The aforementioned commitments to investments are subject to certain terms and conditions prior to closing of the relevant transactions. There can be no assurance that such transactions will close as expected.

&nbsp;&nbsp;&nbsp;&nbsp;**3.** **DERIVATIVE TRANSACTIONS:** 

The following tables include only Funds that had exposure to more than one type of risk from derivatives held throughout the year. For Funds that held derivatives throughout the year with exposure to only one type of risk, additional information can be found on the Schedule of Investments and the Statements of Operations.

The fair value of derivative instruments as of September 30, 2025, was as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Asset Derivatives | Asset Derivatives | Liability Derivatives | Liability Derivatives |
|  | Statement of <br> Assets and <br> Liabilities <br> Location | Fair Value <br> (000) | Statement of <br> Assets and <br> Liabilities <br> Location | Fair Value <br> (000) |
|  Derivatives not accounted for as hedging instruments: | Derivatives not accounted for as hedging instruments: | Derivatives not accounted for as hedging instruments: | Derivatives not accounted for as hedging instruments: | Derivatives not accounted for as hedging instruments: |
|  **Fixed Income Opportunities Fund**  | **Fixed Income Opportunities Fund**  | **Fixed Income Opportunities Fund**  | **Fixed Income Opportunities Fund**  | **Fixed Income Opportunities Fund**  |
|  Interest rate contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized appreciation on futures contracts | $— | Unrealized depreciation on futures contracts | $9 |
|  Foreign exchange contracts | Unrealized gain on forward foreign currency contracts | 445 | Unrealized loss on forward foreign currency contracts | 62 |
|  Total derivatives not accounted for as hedging instruments |  | $445 |  | $71 |

---

Amount of realized gain or (loss) on derivatives recognized in income:

---

| | | | |
|:---|:---|:---|:---|
| Derivatives not accounted for <br> as hedging instruments | Forward <br> Currency <br> Contracts<br> (000) | Futures<br> (000) | Total<br> (000) |
|  **Fixed Income Opportunities Fund** | **Fixed Income Opportunities Fund** | **Fixed Income Opportunities Fund** | **Fixed Income Opportunities Fund** |
|  Interest rate contracts | $— | $(786) | $(786) |
|  Foreign exchange contracts | (12241) |  | (12241) |
|  Total | $(12241) | $(786) | $(13027) |

---

Change in unrealized appreciation or (depreciation) on derivatives recognized in income:

---

| | | | |
|:---|:---|:---|:---|
| Derivatives not accounted for <br> as hedging instruments | Forward <br> Currency <br> Contracts<br> (000) | Futures<br> (000) | Total<br> (000) |
|  **Fixed Income Opportunities Fund** | **Fixed Income Opportunities Fund** | **Fixed Income Opportunities Fund** | **Fixed Income Opportunities Fund** |
|  Interest rate contracts | $— | $(77) | $(77) |
|  Foreign exchange contracts | (62) |  | (62) |
|  Total | $(62) | $(77) | $(139) |

---

The following table discloses the volume of the Fixed Income Opportunities Fund's forward foreign currency contracts and futures contracts activity during the year ended September 30, 2025:

---

| | |
|:---|:---|
| **Fixed Income Opportunities Fund** | (000) |
|  Forwards: |  |
|  Average Notional Balance Long | $20676 |
|  Average Notional Balance Short | 234829 |

---

---

| | |
|:---|:---|
| **Fixed Income Opportunities Fund** | (000) |
|  Futures: |  |
|  Average Notional Balance Long | $5849 |
|  Average Notional Balance Short | 3859 |

---

CITY NATIONAL ROCHDALE FUNDS \| PAGE 87

---

| |
|:---|
| **notes to financial statements** |
| *September 30, 2025*  |

---

The following tables present, by derivative type, the Fixed Income Opportunities Fund's OTC derivative assets and liabilities net of the related collateral posted for the benefit of the Fixed Income Opportunities Fund at September 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
| Derivative Type  | Derivative <br> Assets <br> Subject to <br> a Netting <br> Agreement <br> or Similar <br> Arrangement<br> (000)  | Derivative <br> Available for <br> Offset<br> (000)  | Collateral <br> Received<br> (000)  | Net Amount<br> (000)  |
|  **Fixed Income Opportunities Fund**  | **Fixed Income Opportunities Fund**  | **Fixed Income Opportunities Fund**  | **Fixed Income Opportunities Fund**  | **Fixed Income Opportunities Fund**  |
|  Forward Foreign Currency Contracts  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; U.S. Bank | $445 | $(62) | $— | $383 |
|  Total | $445 | $(62) | $— | $383 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Derivative Type  | Derivative <br> Liabilities <br> Subject to <br> a Netting <br> Agreement <br> or Similar <br> Arrangement<br> (000)  | Derivative <br> Available for <br> Offset<br> (000)  | Collateral <br> Received<br> (000)  | Net Amount<br> (000)  |
|  **Fixed Income Opportunities Fund**  | **Fixed Income Opportunities Fund**  | **Fixed Income Opportunities Fund**  | **Fixed Income Opportunities Fund**  | **Fixed Income Opportunities Fund**  |
|  Forward Foreign Currency Contracts  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; U.S. Bank | $(62) | $62 | $— | $— |
|  Total | $(62) | $62 | $— | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;**4.** **ADMINISTRATION, TRANSFER AGENT, DISTRIBUTION AND SHAREHOLDER SERVICES AGREEMENTS:** 

Pursuant to an Amended and Restated Administration Agreement dated January 1, 2013, as amended (the "Agreement"), SEI Investments Global Funds Services (the "Administrator"), a wholly owned subsidiary of SEI Investments Company, acts as the Trust's administrator. Under the terms of the Agreement, the Administrator is entitled to receive an annual fee based on the average daily net assets of the Trust, subject to a minimum annual fee.

The Trust has adopted a Rule 12b-1 Distribution Plan ("the Plan") with respect to Class N and Class S Shares that allows each Fund to pay distribution fees. Pursuant to the Plan, SEI Investments Distribution Co. (the "Distributor") may receive a distribution fee, computed daily and paid monthly, at the annual rate of 0.50% of the average daily net assets of the Class S Shares and 0.30% of the average daily net assets of the Class N Shares of the Government Money Market Fund and 0.25% of the Class N Shares of the Fixed Income Funds and U.S. Core Equity Fund, which may be used by the Distributor to provide compensation for sales support and distribution-related activities. Pursuant to a Distribution Coordination Agreement, the entirety of the fees received by the Distributor pursuant to the Plan is transmitted to CNR Securities, LLC ("CNR Securities") as Sub-Distribution Coordinator. CNR Securities then reallows those fees to broker-dealers and service providers, including the Adviser and other affiliates, for payments for distribution services of the type identified in the Plan, and retains any undistributed balance of fees received from the Distributor.

The Government Money Market Fund has contractually agreed to limit the distribution fee payable by Class S shares of the Fund to 0.45% through January 31, 2026. Any time prior to January 31, 2026, the arrangement may be terminated without penalty by the Board.

U.S. Bank Global Fund Services (the "Transfer Agent") serves as transfer agent for the Trust and provides services at an annual rate of $20,000 per share class for all Funds plus other transaction based fees and out-of-pocket expenses.

The Trust has entered into a Shareholder Services Agreement that permits payment of compensation to City National Bank ("CNB"), its affiliates (including City National Rochdale) and others, which provide certain specified shareholder services to shareholders of all classes of each Fund, except for the Institutional Class shares. As compensation for the provision of such services, each Fund will pay CNB a fee of 0.25% of the average daily net assets of the applicable classes on an annual basis, payable monthly. For the year ended September 30, 2025, CNB and City National Rochdale received $26,726,838 in shareholder servicing fees from the Trust.

Certain officers of the Trust are also officers or employees of City National Rochdale, CNB or the Administrator. Such officers are paid no fees by the Trust for serving as officers of the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;**5.** **INVESTMENT ADVISORY FEES AND OTHER AGREEMENTS:** 

Under the terms of the current investment management agreement, City National Rochdale receives an annual fee equal to a percentage of the average daily net assets of each Fund, as follows:

---

| | |
|:---|:---|
| Fund | Fee |
|  Government Money Market Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.26% |
|  Municipal High Income Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.50 |
|  Fixed Income Opportunities Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.50 |
|  U.S. Core Equity Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.40 |

---

City National Rochdale has contractually agreed to waive the management fee for the Government Money Market Fund such that the fee charged is 0.15% through January 31, 2026. Anytime prior to January 31, 2026, the arrangement may be terminated without penalty (a) by the Board, or (b) by the Adviser effective no earlier than January 31, 2026, upon at least

CITY NATIONAL ROCHDALE FUNDS \| PAGE 88

60 days' prior written notice. Management fees waived by the Adviser pursuant to this arrangement will not be eligible for reimbursement by the Fund to the Adviser. The Adviser has agreed to voluntarily waive additional management fees for the Fund such that the fee charged is 0.04%. This additional voluntary waiver may be terminated at any time.

As of September 30, 2025, Alcentra LTD, Alcentra NY, LLC, AllFinancial Partners II LLC, Federated Investment Management Company, Seix Investment Advisors LLC, and T. Rowe Price Associates, Inc. act as the investment sub-advisers with respect to the Fixed Income Opportunities Fund.

Sub-adviser fees are paid by City National Rochdale.

City National Rochdale has voluntarily agreed to limit its fees or reimburse expenses to the extent necessary to keep operating expenses at or below certain percentages of certain of the Funds' respective average daily net assets (excluding taxes, interest, brokerage commissions, acquired fund fees and expenses, and extraordinary expenses). The voluntary expense limitations (expressed as percentages of the average daily net assets) are as follows:

---

| | |
|:---|:---|
|  | Fixed Income <br> Opportunities <br> Fund |
|  Institutional Class | n/a |
|  Class N | 1.09% |
|  Servicing Class | n/a |

---

&nbsp;&nbsp;&nbsp;&nbsp;**6.** **INVESTMENT TRANSACTIONS:** 

The cost of security purchases and proceeds from the sale and maturities of securities, other than temporary investments in short-term securities for the year ended September 30, 2025, were as follows for the Fixed Income Funds and U.S. Core Equity Fund:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Purchases | Purchases | Sales and Maturities | Sales and Maturities |
| Fund | U.S. Gov't <br> (000)  | Other <br> (000)  | U.S. Gov't <br> (000)  | Other <br> (000)  |
|  Municipal High Income Fund | $— | $173790 | $— | $219100 |
|  Fixed Income Opportunities Fund |  | 515635 |  | 706246 |
|  U.S. Core Equity Fund |  | 19501 |  | 98007 |

---

The Funds may purchase or sell investment securities in transactions with affiliated entities under procedures adopted by the Board, pursuant to the 1940 Act. These transactions are affected at market rates without incurring broker commissions.

&nbsp;&nbsp;&nbsp;&nbsp;**7.** **FEDERAL TAX INFORMATION:** 

Each Fund intends to continue to qualify as a regulated investment company for U.S. Federal income tax purposes and distribute all of its taxable income and net capital gains. Accordingly, no provisions for U.S. Federal income taxes are required.

Management has analyzed the Funds' tax positions taken on U.S. Federal income tax returns for all open tax years and has concluded that as of September 30, 2025, no provision for income tax would be required in the Funds' financial statements. The Funds' U.S. Federal and state income and U.S. Federal excise tax returns for tax years for which the applicable statutes of limitations have not expired are subject to examination by the Internal Revenue Service and state departments of revenue.

The Funds may be subject to taxes imposed by countries in which they invest, with respect to their investments in issuers existing or operating in such countries. Such taxes are generally based on income earned. The Funds accrue such taxes when the related income is earned.

The timing and characterization of certain income and capital gains distributions are determined annually in accordance with U.S. Federal tax regulations, which may differ from GAAP. As a result, net investment income/(loss) and net realized gain/(loss) on investment transactions for a reporting period may differ significantly from distributions during such period. These book/tax differences may be temporary or permanent. To the extent these differences are permanent in nature, they are charged or credited to distributable earnings or paid-in capital, as appropriate, in the period that the differences arise.

The permanent difference that is credited or charged to Paid-in Capital and Distributable Earnings as of September 30, 2025 is primarily related to investments in partnerships that have been reclassified to (from) the following accounts:

---

| | | |
|:---|:---|:---|
|  | Distributable <br> Earnings (Loss) <br> (000) | Paid-in Capital <br> (000) |
|  Fixed Income Opportunities Fund | $(5) | $5 |

---

The tax character of dividends and distributions declared during the years ended September 30, 2025, and September 30, 2024, were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Fund | Tax-Exempt <br> Income <br> (000) | Ordinary <br> Income<br> (000) | Long-Term <br> Capital <br> Gain <br> (000) | Return of <br> Capital <br> (000) | Total <br> (000) |
|  Government Money Market Fund | Government Money Market Fund | Government Money Market Fund | Government Money Market Fund | Government Money Market Fund | Government Money Market Fund |
| &nbsp;&nbsp;&nbsp; 2025 | $— | $314482 | $— | $— | $314482 |
| &nbsp;&nbsp;&nbsp; 2024 |  | 369854 |  |  | 369854 |
|  Municipal High Income Fund | Municipal High Income Fund | Municipal High Income Fund | Municipal High Income Fund | Municipal High Income Fund | Municipal High Income Fund |
| &nbsp;&nbsp;&nbsp; 2025 | $31712 | $1095 | $— | $— | $32807 |
| &nbsp;&nbsp;&nbsp; 2024 | 38753 | 1461 |  |  | 40214 |

---

CITY NATIONAL ROCHDALE FUNDS \| PAGE 89

---

| |
|:---|
| **notes to financial statements** |
| *September 30, 2025*  |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Fund | Tax-Exempt <br> Income <br> (000) | Ordinary <br> Income<br> (000) | Long-Term <br> Capital <br> Gain <br> (000) | Return of <br> Capital <br> (000) | Total <br> (000) |
|  Fixed Income Opportunities Fund | Fixed Income Opportunities Fund | Fixed Income Opportunities Fund | Fixed Income Opportunities Fund | Fixed Income Opportunities Fund | Fixed Income Opportunities Fund |
| &nbsp;&nbsp;&nbsp; 2025 | $— | $97723 | $— | $— | $97723 |
| &nbsp;&nbsp;&nbsp; 2024 |  | 122108 |  |  | 122108 |
|  U.S. Core Equity Fund | U.S. Core Equity Fund | U.S. Core Equity Fund | U.S. Core Equity Fund | U.S. Core Equity Fund | U.S. Core Equity Fund |
| &nbsp;&nbsp;&nbsp; 2025 | $— | $452 | $62891 | $— | $63343 |
| &nbsp;&nbsp;&nbsp; 2024 |  | 2943 | 41338 |  | 44281 |

---

As of September 30, 2025, the components of Distributable Earnings/(Accumulated Losses) on a tax basis were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Fund | Undistributed <br> Tax-Exempt <br> Income <br> (000) | Undistributed <br> Ordinary <br> Income <br> (000) | Undistributed <br> Long-Term <br> Capital Gain <br> (000) | Capital Loss <br> Carryforwards <br> (000) | Post-October <br> Losses <br> (000) | Unrealized <br> Appreciation <br> (Depreciation) <br> (000) | Other <br> Temporary <br> Differences <br> (000)\* | Total <br> Distributable <br> Earnings <br> (Accumulated <br> Losses) <br> (000) |
|  Government Money Market Fund | $— | $25875 | $— | $— | $– $|  | $(25838) | $37 |
|  Municipal High Income Fund | 5448 |  |  | (255150) | – | (40170) | (2520) | (292392) |
|  Fixed Income Opportunities Fund |  | 7538 |  | (821169) | – | (231969) |  | (1045600) |
|  U.S. Core Equity Fund |  | 725 | 44995 |  | – | 212023 | 1 | 257744 |

---

\* Other temporary differences primarily consist of dividend payable.

Post-October losses, if any, represent losses realized on investments and foreign currency transactions from November 1, 2024, through September 30, 2025, that, in accordance with U.S. Federal income tax regulations, the Funds have elected to defer and treat as having arisen in the following fiscal year. The Funds did not elect to defer any Post-October Losses in the current year.

The Funds have capital losses carried forward as follows:

---

| | | | |
|:---|:---|:---|:---|
| Fund  | Short-Term Loss <br> (000) | Long-Term Loss <br> (000) | Total <br> (000) |
|  Municipal High Income Fund | $110054 | $145096 | $255150 |
|  Fixed Income Opportunities Fund | 157773 | 663396 | 821169 |

---

The aggregate gross unrealized appreciation on investments, the aggregate gross unrealized depreciation on investments and the net unrealized appreciation/(depreciation) for tax purposes as of September 30, 2025, for each of the Fixed Income Funds' and U.S. Core Equity Fund's investments were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| Fund | Federal <br> Tax Cost <br> (000) | Aggregate <br> Gross <br> Unrealized <br> Appreciation <br> (000) | Aggregate <br> Gross <br> Unrealized <br> Depreciation <br> (000) | Net <br> Unrealized <br> Appreciation <br> (Depreciation) <br> (000) |
|  Municipal High Income Fund | $795114 | $23828 | $(63998) | $(40170) |
|  Fixed Income Opportunities Fund | 1943450 | 52491 | (284460) | (231969) |
|  U.S. Core Equity Fund | 170118 | 213616 | (1593) | 212023 |

---

At September 30, 2025, the Government Money Market Fund's cost of securities for U.S. Federal income tax purposes approximates the cost disclosed in the Schedule of Investments.

&nbsp;&nbsp;&nbsp;&nbsp;**8.** **CONCENTRATION OF RISK:** 

In the normal course of business, the Funds enter into contracts that provide general indemnifications. The Funds' maximum exposure under these arrangements is dependent on future claims that may be made against the Funds and, therefore, cannot be established; however, based on experience, the risk of loss from such claims is considered remote.

The Municipal High Income Fund and Fixed Income Opportunities Fund may invest in lower-rated corporate bonds, known as high yield bonds. High yield bonds involve greater risks of default, downgrade, or price declines and are more volatile than investment grade securities. Issuers of high yield bonds may be more susceptible than other issuers to economic downturns and investors are subject to a greater risk that the issuer may not be able to pay interest or dividends, or repay the principal upon maturity. Discontinuation of these payments could have a substantial adverse effect on the market value of the security.

The Fixed Income Opportunities Fund may invest in asset-backed and mortgage-backed securities. As a general rule, prepayments of the principal of the loans underlying mortgage-backed or other pass-through securities increase during a period of falling interest rates and decrease during a period of rising interest rates. In periods of declining interest rates, as a result

CITY NATIONAL ROCHDALE FUNDS \| PAGE 90

of prepayments a Fund may be required to reinvest its assets in securities with lower interest rates. In periods of increasing interest rates, the securities subject to prepayment risk held by a Fund may exhibit price characteristics of longer-term debt securities.

The Fixed Income Opportunities Fund may invest in bank loans. Bank loans are not traded on an exchange and purchasers and sellers of bank loans generally rely on market makers, typically the administrative agent under a bank loan, to effect private sales transactions. As a result, bank loans may have relatively less liquidity than other types of fixed income assets, and a Fund may be more likely to incur losses on the sale of bank loans than on other, more liquid, investments.

A more complete description of risks is included in the Funds' prospectus and statement of additional information.

&nbsp;&nbsp;&nbsp;&nbsp;**9.** **CAPITAL SHARES ISSUED AND REDEEMED:** 

Capital share activity for the year ended September 30, 2025, and the year ended September 30, 2024, was as follows (000):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Government Money Market Fund | Government Money Market Fund | Municipal High <br> Income Fund | Municipal High <br> Income Fund |
| | 2025 | 2024 | 2025 | 2024 |
|  **CAPITAL SHARES ISSUED AND REDEEMED:** | **CAPITAL SHARES ISSUED AND REDEEMED:** |  |  |  |
| &nbsp;&nbsp;&nbsp; *Class N:*  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Shares issued |  | 429391 | 14121 | 14861 |
| &nbsp;&nbsp;&nbsp; Shares issued in lieu of dividends and distributions |  | 6920 | 1101 | 1346 |
| &nbsp;&nbsp;&nbsp; Shares redeemed |  | (1100521) | (19465) | (29862) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Class N transactions |  | (664210) | (4243) | (13655) |
| &nbsp;&nbsp;&nbsp; *Class S:*  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Shares issued | 4772916 | 4109648 |  |  |
| &nbsp;&nbsp;&nbsp; Shares issued in lieu of dividends and distributions |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Shares redeemed | (4488885) | (4348034) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Class S transactions | 284031 | (238386) |  |  |
| &nbsp;&nbsp;&nbsp; *Servicing Class:*  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Shares issued | 16280142 | 15193996 | 9296 | 6272 |
| &nbsp;&nbsp;&nbsp; Shares issued in lieu of dividends and distributions | 230147 | 266028 | 162 | 294 |
| &nbsp;&nbsp;&nbsp; Shares redeemed | (16174322) | (14732734) | (10655) | (26280) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Servicing Class transactions | 335967 | 727290 | (1197) | (19714) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Fixed Income Opportunities Fund | Fixed Income Opportunities Fund | U.S. Core Equity Fund | U.S. Core Equity Fund |
| | 2025 | 2024 | 2025 | 2024 |
|  **CAPITAL SHARES ISSUED AND REDEEMED:** | **CAPITAL SHARES ISSUED AND REDEEMED:** |  |  |  |
| &nbsp;&nbsp;&nbsp; *Institutional Class:*  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Shares issued |  |  | 62 | 4 |
| &nbsp;&nbsp;&nbsp; Shares issued in lieu of dividends and distributions |  |  | 1 | 1 |
| &nbsp;&nbsp;&nbsp; Shares redeemed |  |  | (3) | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Institutional Class transactions |  |  | 60 | 4 |
| &nbsp;&nbsp;&nbsp; *Class N:*  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Shares issued | 16357 | 17034 | 1535 | 1588 |
| &nbsp;&nbsp;&nbsp; Shares issued in lieu of dividends and distributions | 3518 | 4414 | 1270 | 890 |
| &nbsp;&nbsp;&nbsp; Shares redeemed | (30108) | (41216) | (2577) | (2448) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Class N transactions | (10233) | (19768) | 228 | 30 |
| &nbsp;&nbsp;&nbsp; *Servicing Class:*  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Shares issued |  |  | 851 | 795 |
| &nbsp;&nbsp;&nbsp; Shares issued in lieu of dividends and distributions |  |  | 162 | 90 |
| &nbsp;&nbsp;&nbsp; Shares redeemed |  |  | (1895) | (1449) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Servicing Class transactions |  |  | (882) | (564) |

---

CITY NATIONAL ROCHDALE FUNDS \| PAGE 91

---

| |
|:---|
| **notes to financial statements** |
| *September 30, 2025*  |

---

&nbsp;&nbsp;&nbsp;&nbsp;**10.** **LINE OF CREDIT:** 

The Funds, except for the Government Money Market Fund, have an unsecured Loan Agreement ("LOC") with U.S. Bank N.A. Under the terms of the LOC, borrowings for an individual Fund are limited to either the lesser of 10% of the Fund's net assets or an explicit amount on the LOC. Interest is charged to a Fund based on its borrowings at prime rate minus 0.50%. The LOC matures, unless renewed by September 2, 2026. The LOC is with the Custodian. The Funds have authorized the Custodian to charge any of the accounts of the Funds for any missed payments. Interest expense amounts are shown as Interest Expense on Borrowings on the Statements of Operations.

Borrowing activity under the LOC for the year ended September 30, 2025, was as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Fund | Maximum <br> Amount <br> of Line of <br> Credit <br> (000) | Interest <br> Expense <br> (000)\* | Average <br> Rate | Average <br> Borrowings <br> (000) | Maximum <br> Amount <br> Outstanding <br> (000) |
|  Municipal High Income Fund | $300000 | $12 | 7.00% | $3286 | $6092 |
|  Fixed Income Opportunities Fund | 300000 | 1323 | 7.11% | 42762 | 113198 |
|  U.S. Core Equity Fund | 300000 | 1 | 7.00% | 3320 | 3320 |

---

\* Interest Expense amounts are included in "Interest Expense on Borrowings" on the Statements of Operations. 

For the year ended September 30, 2025, there was no LOC outstanding balance.

**11. RECENT ACCOUNTING PRONOUNCEMENT:** 

In this reporting period, the Funds adopted the FASB Accounting Standards Update ("ASU") 2023-07, Segment Reporting (Topic 280) - "Improvements to Reportable Segment Disclosures" ("ASU 2023-07"). Adoption of the new standard impacted financial statement disclosures only and did not affect the Funds' financial position or the results of its operations. An operating segment is defined in Topic 280 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. SEI Investments Management Corporation (SIMC) acts as the Funds' CODM. The CODM has determined that the Funds represent a single operating segment, as the CODM monitors the operating results of the Funds as a whole and the Funds' long-term strategic asset allocation is pre-determined in accordance with the terms of its prospectus, based on a defined investment strategy which is executed by the Funds' portfolio managers as a team. The financial information in the form of the Funds' schedules of investments, total returns, expense ratios and changes in net assets (i.e., changes in net assets resulting from operations, subscriptions and redemptions), which are used by the CODM to assess the segment's performance versus the Funds' comparative benchmarks and to make resource allocation decisions for the Funds' single segment, is consistent with that presented within the Funds' financial statements. Segment assets are reflected on the accompanying Statements of Assets and Liabilities as "total assets" and significant segment expenses are listed on the accompanying Statements of Operations.

**12. SUBSEQUENT EVENTS:** 

The Trust has evaluated the need for additional disclosures and/or adjustments resulting from subsequent events. Based on this evaluation, no adjustments were required to the financial statements, and no issues were noted to disclose, except the following:

On November 18, 2025, the Board of Trustees approved a special distribution to shareholders of the net capital gains of the U.S. Core Equity Fund. The special distribution was made on November 21, 2025.

The Board of Trustees subsequently approved the liquidation of the U.S. Core Equity Fund. The Fund will be liquidated on or about December 22, 2025, at which time the net assets of the Fund will be distributed in a manner determined to be in the best interest of the shareholders and the Fund will be closed.

CITY NATIONAL ROCHDALE FUNDS \| PAGE 92

**report of independent registered public accounting firm**<br>

---

| |
|:---|
| **report of independent registered public accounting firm** |
|  |

---

*To the Shareholders and Board of Trustees of City National Rochdale Funds* 

**Opinion on the Financial Statements** 

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of City National Rochdale Government Money Market Fund, City National Rochdale Municipal High Income Fund, City National Rochdale Fixed Income Opportunities Fund, and City National Rochdale U.S. Core Equity Fund (the "Funds"), each a series of City National Rochdale Funds, as of September 30, 2025, the related statements of operations and cash flows (for City National Rochdale Fixed Income Opportunities Fund only) for the year then ended, the statements of changes in net assets for each of the years in the two-year period then ended and the financial highlights for each of the years in the three-year period then ended, 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 September 30, 2025, the results of their operations and cash flows (for City National Rochdale Fixed Income Opportunities Fund only) for the year then ended, the changes in net assets for each of the years in the two-year period then ended and financial highlights for each of the years in the three-year period then ended, in conformity with accounting principles generally accepted in the United States of America.

The Funds' financial highlights for the years ended September 30, 2022, and prior, were audited by another auditor whose report, dated November 29, 2022, expressed an unqualified opinion on those financial highlights.

**Basis for Opinion** 

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 September 30, 2025, by correspondence with the custodians, brokers, agent banks, other appropriate parties and by other appropriate auditing procedures where replies were not received. 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.

We have served as the Funds' auditor since 2023.

**COHEN & COMPANY, LTD. Philadelphia, Pennsylvania November 26, 2025**

CITY NATIONAL ROCHDALE FUNDS \| PAGE 93

---

| |
|:---|
| **notice to shareholders** *(Unaudited)* |
| *September 30, 2025* |

---

For shareholders that do not have a September 30, 2025, taxable year end, this notice is for info`rmational purposes only. For shareholders with a September 30, 2025, taxable year end, please consult your tax advisor as to the pertinence of this notice.

For California income tax purposes, for the fiscal year ended September 30, 2025, the Municipal High Income Fund is designating 6.87% of its distributions paid from net investment income as exempt-interest dividends under Section 17145 of the California Revenue and Taxation Code.

For Federal income tax purposes, for the fiscal year ended September 30, 2025, each Fund is designating the following items with regard to distributions paid during the year:

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | (A) <br> Long Term <br> Capital Gain <br> Distributions | (B) <br> Return of <br> Capital | (C) <br> Ordinary <br> Income <br> Distributions | (D) <br> Tax Exempt <br> Interest | (E) <br> Total <br> Distributions | (F) <br> Dividends <br> Qualifying <br> for Corporate <br> Dividends <br> Rec. <br> Deduction <sup>(1)</sup> | (G) <br> Qualifying <br> Dividend <br> Income <sup>(2)</sup> | (H) <br> U.S. <br> Government <br> Interest <sup>(3)</sup> | (I) <br> Interest <br> Related <br> Dividends <sup>(4)</sup> | (J) <br> Qualified <br> Short-Term <br> Capital Gain <br> Dividends <sup>(5)</sup> | (K) <br> Foreign Tax <br> Credit |
|  Government Money Market Fund | 0.00% | 0.00% | 100.00% | 0.00% | 100.00% | 0.00% | 0.00% | 78.12% | 97.85% | 100.00% | 0.00% |
|  Municipal High Income Fund<sup>(3)</sup> | 0.00% | 0.00% | 3.09% | 96.91% | 100.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
|  Fixed Income Opportunities Fund<sup>(3)</sup> | 0.00% | 0.00% | 100.00% | 0.00% | 100.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
|  U.S. Core Equity Fund<sup>(3)</sup> | 99.29% | 0.00% | 0.71% | 0.00% | 100.00% | 100.00% | 100.00% | 0.00% | 0.00% | 100.00% | 0.00% |
|  Equity Income Fund<sup>(3)(6)</sup> | 96.03% | 0.65% | 3.32% | 0.00% | 100.00% | 100.00% | 100.00% | 0.00% | 0.00% | 0.00% | 0.00% |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) "Dividends Received Deduction"
 represent dividends which qualify for the corporate dividends received deduction.

&nbsp;&nbsp;&nbsp;&nbsp;(2) "Qualifying Dividend

 to designate the maximum amount permitted by law.

&nbsp;&nbsp;&nbsp;&nbsp;(3) "U.S. Government Interest"
 represent the amount of interest that was derived from direct U.S. Government obligations and distributed during the fiscal year. This

amount is reflected as a percentage of ordinary income. Generally, interest from direct U.S. Government obligations is exempt from state income tax. However, for

shareholders who are residents of California, Connecticut or New York, the statutory threshold requirements were not satisfied to permit exemption of these amounts

from state income.

&nbsp;&nbsp;&nbsp;&nbsp;(4) "Interest Related Dividends"

Creation Act of 2004.

&nbsp;&nbsp;&nbsp;&nbsp;(5) "Short-Term Capital Gain
 Dividends" represent qualifying short-term capital gain that is exempt from U.S. withholding tax when paid to foreign investors

&nbsp;&nbsp;&nbsp;&nbsp;(6) Fund was liquidated on April
 14, 2025.

Items (A), (B), (C), (D), (E) and (K) are based on the percentage of each fund's total distribution.

Items (F) and (G) are based on the percentage of "Ordinary Income Distributions."

Item (H) is based on the percentage of gross income of each Fund.

Item (I) is based on the percentage of net investment income distributions.

Item (J) is based on the percentage of short-term capital gain distributions.

CITY NATIONAL ROCHDALE FUNDS \| PAGE 94

---

| |
|:---|
| **other information - (form n-csr items 8-11)** *(Unaudited)* |
|  |

---

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

Not applicable.

**Item 9. Proxy Disclosures for Open-End Management Investment Companies.** 

There were no matters submitted to a vote of shareholders during the period covered by this report.

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

The remuneration paid by the company during the period covered by the report to the Trustees on the company's Board of Trustees is disclosed within the Statement(s) of Operations of the financial statements (Item 7).

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

The Board of Trustees (the "Board") of City National Rochdale Funds (the "Trust") is comprised of six Trustees, all of whom are "Independent Trustees" (i.e., not "interested persons" of the Trust as defined in the Investment Company Act of 1940, as amended). At in-person meetings held on April 2, 2025, and May 15, 2025, the Board considered and approved the renewal of the following advisory and sub-advisory agreements:

● The advisory agreement between City National Rochdale, LLC (the "Adviser") and the Trust, on behalf of the City National Rochdale Government Money Market Fund (the "Money Market Fund"), City National Rochdale Municipal High Income Fund (the "Municipal High Income Fund"), City National Rochdale Fixed Income Opportunities Fund (the "Fixed Income Opportunities Fund"), and City National Rochdale U.S. Core Equity Fund (the "U.S. Core Equity Fund") (each, a "Fund" and collectively, the "Funds");

● The advisory agreement between the Adviser and CNR FIOF Investments (Ireland) Limited (the "Irish Company"), a company organized under the laws of Ireland;

● The sub-advisory agreement between the Adviser and Alcentra Limited, with respect to the Fixed Income Opportunities Fund;

● The sub-advisory agreement among the Adviser, Alcentra Limited and Alcentra NY, LLC ("Alcentra NY" and together with Alcentra Limited, "Alcentra"), with respect to the Fixed Income Opportunities Fund;

● The sub-advisory agreement between the Adviser and Federated Investment Management Company ("Federated"), with respect to the Fixed Income Opportunities Fund;

● The sub-advisory agreement between the Adviser and Seix Investment Advisors LLC ("Seix"), with respect to the Fixed Income Opportunities Fund; and

● The sub-advisory agreement between the Adviser and T. Rowe Price Associates, Inc. ("T. Rowe Price"), with respect to the Fixed Income Opportunities Fund.

The advisory and sub-advisory agreements listed above are collectively referred to below as the "Agreements." Alcentra Limited, Alcentra NY, Federated, Seix, and T. Rowe Price are collectively referred to below as the "Sub-Advisers."

**General Information** 

The following information summarizes the Board's considerations associated with its review of the Agreements. In connection with their deliberations, the Trustees considered such information and factors as they believed, in light of the legal advice furnished to them and their own business judgment, to be relevant. The Agreements were considered separately for each Fund and the Irish Company, although the Board took into account the common interests of the Funds and the Irish Company in its review. As described below, the Board considered the nature, quality and extent of the various services performed by the Adviser and each Sub-Adviser. In considering these matters, the Independent Trustees discussed the renewal of the Agreements with management and in private sessions with their independent counsel at which no representatives of the Adviser or the Sub-Advisers were present.

The Board reviewed extensive materials regarding investment results of the Adviser and each Sub-Adviser with respect to the Funds (or portions of the Fixed Income Opportunities Fund) they manage and the Irish Company, as applicable, advisory fee and expense comparisons, financial information with respect to the Adviser and each Sub-Adviser, descriptions of various functions such as

CITY NATIONAL ROCHDALE FUNDS \| PAGE 95

---

| |
|:---|
| **other information - (form n-csr items 8-11)** *(Unaudited)* |
|  |

---

compliance monitoring and portfolio trading practices, and information about the personnel providing various services to the Funds and the Irish Company. The Board also took into account information they received at past meetings of the Board and its committees with respect to these matters.

In deciding to renew the Agreements, the Board and the Independent Trustees did not identify a single factor as controlling and this summary does not describe all of the matters considered. In addition, each Board member did not necessarily attribute the same weight to each matter. However, the Board and the Independent Trustees concluded that each of the various factors referred to below favored such renewal.

**CITY NATIONAL ROCHDALE, LLC** 

**Nature, Extent and Quality of Services** 

In reviewing the services provided by the Adviser to the Funds and the Irish Company, the Board considered a variety of matters, including the overall quality and depth of the Adviser's organization, its overall financial strength and stability, its commitment to compliance with applicable laws and regulations and the systems in place to ensure compliance with those requirements, its portfolio trading and soft dollar practices, and its disaster recovery and contingency planning practices. The Board also considered the experience, capability and integrity of the Adviser's senior management, the background, education and experience of the Adviser's personnel, and its efforts to retain, attract and motivate capable personnel to serve the Funds and the Irish Company. With respect to the Fixed Income Opportunities Fund, the Board considered the process the Adviser utilizes to select the Sub-Advisers and proactively oversee the Sub-Advisers with respect to various investment, valuation and compliance matters. The Board found all of these matters to be satisfactory.

**Investment Performance** 

The Board assessed the performance of each Fund compared with the returns of its respective benchmark index or indexes and the averages of the funds included in its respective fund universe selected by Lipper, Inc. (each, a "Lipper Universe"), for the one-, three-, five-, ten- and 15-year and since inception periods ended December 31, 2024, as applicable. In addition, the Board reviewed the performance of each Fund compared to the average returns of certain funds (each, a "Peer Group" and collectively, the "Peer Groups") in the Fund's Lipper Universe selected by the Funds' administrator based on the Fund's total net assets, for the one-, three-, five-, ten- and 15-year periods ended December 31, 2024, as applicable. With respect to the performance results of the Funds, the Trustees noted that the meeting materials indicated as follows:

● The Money Market Fund (Servicing Class) outperformed the average returns of the funds in the Lipper U.S. Government Money Market Classification Universe for the one-, three-, five-, ten- and 15-year and since inception periods.

● The Municipal High Income Fund (Servicing Class) outperformed the average return of the funds in the Lipper High Yield Municipal Classification Universe and the return of a blended index consisting of Bloomberg 60% Tax-Exempt High Yield/40% Municipal Investment Grade Custom Capped Custom Weighted Unhedged USD Index (the "60/40 Blended Index") for the one-year period, but underperformed the average returns of the funds in the Lipper High Yield Municipal Classification Universe (by 1.03% or less), and the 60/40 Blended Index returns (by 1.88% or less) for the three-, five-, and ten-year and since inception periods. The Trustees considered the Adviser's explanation that the outperformance for the one-year period as compared to the 60/40 Blended Index was largely due to the outperformance of lower quality bonds, to which the Fund has a large allocation relative to the benchmark. The Trustees also considered the Adviser's expectation that this trend would continue moderately in 2025, as investors continued to search for more yield and became more comfortable with the current level of inflation. The Trustees further considered the Adviser's assertion that the net redemptions from the Fund in 2024 caused the Fund to sell bonds at suboptimal times and prices, which negatively impacted performance during the period, and that maintaining duration at the level of the 60/40 Blended Index was appropriate given the likelihood of continued interest rate volatility.

● The Fixed Income Opportunities Fund (Class N) outperformed the Bloomberg Global Credit-Corp Total Return Hedged Index returns for the one-, three-, five-, and ten-year and since inception periods. The Fund underperformed the Blended Index (a hybrid index composed of 40% Bloomberg Multiverse Total Return Index Value Hedged USD, 35% S&P Global Leveraged Loan Index, and 25% Bloomberg Emerging Markets High Yield Index) returns (by 1.14% or less) for the one-, three-, five-, and ten-year and since inception periods. The Fund underperformed the average returns of the funds in the Lipper Global High Yield Funds Classification Universe (by 1.71% or less) for the one-, three-, five-, and ten-year and since inception periods. The Trustees

CITY NATIONAL ROCHDALE FUNDS \| PAGE 96

considered the Fund's 6.74% return for the year ended December 31, 2024, and its underperformance relative to the Blended Index for the same period. The Trustees also considered the Adviser's assertion that the Fund's relative underperformance for the one-year period compared to the Blended Index was largely due to legacy positions that were sold (within the Adviser-managed sleeve), which accounted for approximately -1.5% return in the Fund for the year.

● The U.S. Core Equity Fund (Institutional Class) outperformed the average returns of the funds in the Lipper Large Cap Core Funds Classification Universe for the ten-year and since inception periods, but underperformed the Lipper Universe average returns (by 1.79% or less) for the one-, three- and five-year periods. The Fund underperformed the S&P 500 Index returns (by 4.61% or less) for the one-, three-, five-, and ten-year and since inception periods. The Trustees observed the Fund's one-year return of 20.41%, and considered the Adviser's assertion that the Fund's positive return for the period was helped by the Fund's overweight position in cyclical industry groups, including financial services, consumer staples distribution and retail, and commercial and professional services, and by stock selection in semiconductors, defensive pharmaceuticals, biotechnology and life sciences. The Trustees also noted the Adviser's explanation that the majority of the Fund's recent underperformance was in the information technology sector, and that the Fund was positioned defensively at the beginning of 2024 and as a result did not participate in some of the equity market rally that took place in 2024.

The Board concluded that the Adviser continued to provide high quality management and oversight services to the Funds and the Irish Company. The Board noted that the investment results of the Funds over the long term were generally competitive; that the Adviser had given reasonable explanations for the performance of those Funds that had underperformed relative to their benchmarks and Peer Groups, and had explained the impact of market conditions on the performance of the Funds; that the Adviser's compliance team had made enhancements to the Funds' and Adviser's compliance programs during the past year; that the Adviser had historically replaced portfolio managers and/or sub-advisers for Funds or strategies that experienced performance challenges; and that consideration of returns of market indexes needed to take into account that indexes do not reflect the expenses of operating mutual funds.

**Advisory Fees and Fund Expenses** 

The Board then reviewed information regarding the advisory fees (both before and after waivers) charged by the Adviser to each Fund, and the total expenses (net of fee waivers) for the last fiscal year of a share class of each Fund (as percentages of their respective average annual net assets), as compared to those of the funds included in its respective Lipper Universe and Peer Group.

The Board observed that the meeting materials indicated as follows with respect to the Funds' investment advisory fees (gross of fee waivers) as of December 31, 2024:

● The gross advisory fees paid by the Fixed Income Opportunities Fund and U.S. Core Equity Fund were below their respective Peer Group and Lipper Universe averages.

● The gross advisory fees paid by the Money Market Fund and Municipal High Income Fund were below their respective Lipper Universe averages, but above their respective Peer Group averages.

The Board noted that with the exception of the strategy listed below, the Adviser does not manage investment portfolios for other registered investment companies, pension funds or institutional accounts that have similar investment objectives and policies as the Funds, so it did not have a basis to compare certain Funds' advisory fees with advisory fees charged by the Adviser to other comparable client accounts. The Board also noted that the Adviser manages discretionary client account assets in the Core Equity strategy, in accordance with investment policies similar to those of the U.S. Core Equity Fund. The Trustees reviewed the Adviser's fee schedules and concluded that the advisory fee charged to the U.S. Core Equity Fund was generally in the range of, and in some instances lower than, the fees that the Adviser charged to manage client accounts using a similar strategy as that used by the Fund. The Trustees considered the Adviser's explanation that the fees published in its fee schedules are applicable to each client's entire account, regardless of the strategies used to manage the assets in the account, and that such fees are subject to negotiation. The Trustees also noted that management of mutual fund assets requires compliance with certain requirements under the 1940 Act that do not apply to separate accounts that the Adviser manages. The Trustees also considered that any net advisory fees retained by the Adviser with respect to the Funds, after the payment of any sub-advisory fees, are rebated to shareholders investing in the Funds through separate accounts managed by the Adviser.

The Board observed that the meeting materials indicated as follows with respect to the total expense ratios of each Fund (net of fee waivers):

CITY NATIONAL ROCHDALE FUNDS \| PAGE 97

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| |
|:---|
| **other information - (form n-csr items 8-11)** *(Unaudited)* |
|  |

---

● The total expense ratios of the Institutional Class of the U.S. Core Equity Fund and the Servicing Class of the Money Market Fund were below their respective Peer Group and Lipper Universe averages.

● The total expense ratio of the Servicing Class of the Municipal High Income Fund was below its Lipper Universe average, but above its Peer Group average.

● The total expense ratios of Class N of the Money Market Fund, Fixed Income Opportunities Fund, and U.S. Core Equity Fund, and the Servicing Class of the U.S. Core Equity Fund were below their respective Peer Group averages, but above their respective Lipper Universe averages.

● The total expense ratio of Class N of the Municipal High Income Fund was above its Peer Group and Lipper Universe averages.

The Board concluded that the advisory fees charged by the Adviser were fair and reasonable in relation to the value of services provided, and the total expenses of each Fund continued to be reasonable in light of the services provided, noting the different expense structures and arrangements for shareholder services and distribution of the various classes of the Funds.

**Profitability, Benefits to the Adviser and Economies of Scale** 

The Board next considered information prepared by the Adviser relating to its costs and profits with respect to the Funds for the year ended December 31, 2024. The Board also considered the benefits received by the Adviser and its affiliates as a result of the Adviser's relationship with the Funds (other than the investment advisory fees paid to the Adviser), including fees paid to the Adviser, City National Bank ("CNB"), and City National Securities, Inc. for providing certain shareholder servicing and/or sub-distribution services to the Funds and/or their shareholders, as applicable; benefits to CNB's brokerage and wealth management business as a result of the availability of the Funds to its customers; and any research received from broker-dealers that execute transactions on behalf of the Funds. The Trustees recognized the competitiveness of the registered fund industry and the importance of an investment adviser's long-term profitability, including for maintaining management stability and accountability. The Board recognized the difficulty in evaluating an investment adviser's profitability with respect to the funds it manages in the context of an adviser with multiple lines of business, and noted that other profitability methodologies might also be reasonable. The Board observed that the profits of the Adviser from its relationships with the Funds were reasonable.

The Board also considered potential economies of scale realized by the Adviser as the Funds grow and how any such economies are shared with the Funds, reviewing information prepared by the Adviser relating to the Trust's assets, as well as the assets of each Fund. The Board considered the Adviser's explanation that it shares any economies of scale achieved with Fund shareholders through means other than breakpoints, such as expense caps and fee waivers, and the investments that the Adviser had made in its business over the past year, including devoting resources to innovation and technology. Based on this explanation, the Board concluded that although there were no advisory fee breakpoints, the existing fee structure of each Fund reflected an appropriate sharing of any efficiencies or economies of scale to date, and noted that it would have the opportunity to periodically reexamine the appropriateness of the advisory fees payable to the Adviser in light of any economies of scale experienced in the future.

**Conclusion** 

The Board and the Independent Trustees concluded that, based on the various factors they had reviewed, the compensation payable to the Adviser under the advisory agreements was fair and reasonable in light of the nature and quality of the services the Adviser provided to the Funds and the Irish Company, and that renewal of the advisory agreements would be in the best interests of each Fund and the Irish Company, and their respective shareholders.

**SUB-ADVISERS** 

**Nature, Extent and Quality of Services** 

In reviewing the services provided by each Sub-Adviser, the Board considered a variety of matters, including the overall quality and depth of each Sub-Adviser's organization and its overall financial strength and stability. The Board also considered, among other things, the investment operations and staff of each Sub-Adviser, its commitment to compliance with applicable laws and regulations and the Trust's compliance policies and procedures, its portfolio trading and soft dollar practices, and its disaster recovery and contingency

CITY NATIONAL ROCHDALE FUNDS \| PAGE 98

planning practices. In addition, the Board considered the background, education and experience of each Sub-Adviser's key portfolio management and operational personnel, and each Sub-Adviser's efforts to retain, attract and motivate capable personnel to serve the Fixed Income Opportunities Fund. The Board found all of these matters to be satisfactory.

**Investment Performance** 

The Board reviewed information provided in the meeting materials setting forth the performance of the portion of the Fixed Income Opportunities Fund sub-advised by each Sub-Adviser compared with applicable benchmarks for various periods ended December 31, 2024. The Board made the following additional observations in reviewing the performance of the following Sub-Advisers of the Fixed Income Opportunities Fund:

● The annualized returns for the portion of the Fund managed by Federated were above the returns of the Bloomberg U.S. Corporate High Yield Index for the three- and five-year periods, but below the Index's return (by 1.15%) for the one-year period.

● The annualized returns for the leveraged loan portfolio of the Fund managed by Seix were above the returns of the S&P LSTA U.S. Leveraged Loan Index for the one-, three-, and five-year periods. The return for the high yield bond portfolio of the Fund managed by Seix was above the return for the Bloomberg U.S. Corporate High Yield Index for the three-year period, but below the Index's return (by 0.54%) for the one-year period.

● The annualized returns for the portion of the Fund managed by Alcentra (for European leveraged loans) were above the returns of the S&P LSTA European Leveraged Loan Index for the one-, three-, and five-year periods. The annualized returns for the portion of the Fund managed by Alcentra (for U.S./European structured credit) were above the returns of the Palmer Square CLO Debt Index for the one-, three-, and five-year periods.

● The return for the portion of the Fund managed by T. Rowe Price (for the main portfolio) was above the return of the ICE BofA High Yield U.S. Emerging Markets Corporate Plus Index for the three-year period, but below the Index's return (by 2.13%) for the one-year period. The return for the portion of the Fund managed by T. Rowe Price (for the liquid portfolio) was above the return of the ICE BofA High Yield U.S. Emerging Markets Corporate Plus Index for the three-year period, but below the Index's return (by 14.36%) for the one-year period.

The Board noted that, while not all of the Sub-Advisers outperformed their respective benchmarks for the periods under evaluation, in each case the Adviser reviewed the Sub-Adviser's performance relative to current market conditions and with an understanding of the Sub-Adviser's style and philosophy. The Board considered the investment results of the Fixed Income Opportunities Fund to be generally competitive, and determined that each of Alcentra Limited, Alcentra NY, Federated, Seix, and T. Rowe Price continued to provide high quality sub-advisory services to the Fixed Income Opportunities Fund.

**Sub-Advisory Fees and Benefits to Sub-Advisers** 

The Board reviewed information included in the meeting materials regarding the sub-advisory fees charged by each Sub-Adviser, and observed that the fees charged by each Sub-Adviser to the Fixed Income Opportunities Fund were generally equal to or lower than the fees it charged to its other advisory or sub-advisory clients, as applicable, to manage comparable mutual funds, private funds, and separate accounts. The Board noted that although certain Sub-Advisers charged lower fees to other mutual funds advised by the Sub-Advisers, those funds were significantly larger than the Fixed Income Opportunities Fund. The Trustees noted that the Adviser pays all sub-advisory fees out of its advisory fee. The Board also noted that the Adviser evaluates each Sub-Adviser's fees relative to those of its respective asset class peer groups in an effort to ensure that they are reasonable and appropriate in light of the services provided. In addition, the Board considered the different advisory and sub-advisory fee splits of the Fixed Income Opportunities Fund, and noted the Adviser's beliefs that the fees paid to the Sub-Advisers are priced at competitive levels, and that the overall advisory fee, gross advisory fee and sub-advisory fees are fair and reasonable in light of the services provided to the Fund by the Adviser and the Sub-Advisers, as applicable.

The Board also considered the benefits received by each Sub-Adviser and its affiliates as a result of its relationship with the Fixed Income Opportunities Fund (other than the sub-advisory fee paid to the Sub-Adviser), including any research services made available to the Sub-Adviser by broker-dealers providing execution services to the Fund, the intangible benefits of the Sub-Adviser's association with the Fund generally, and any favorable publicity arising in connection with the Fund's performance.

CITY NATIONAL ROCHDALE FUNDS \| PAGE 99

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| |
|:---|
| **other information - (form n-csr items 8-11)** *(Unaudited)* |
|  |

---

**Conclusion** 

Based on their review, including their consideration of each of the factors referred to above, the Board and the Independent Trustees concluded that the compensation payable to each Sub-Adviser pursuant to its respective sub-advisory agreement was fair and reasonable in light of the nature and quality of the services provided by each Sub-Adviser to the Fixed Income Opportunities Fund, and that it would be in the best interests of the Fund and its shareholders to renew the sub-advisory agreements with each of Alcentra Limited, Alcentra NY, Federated, Seix, and T. Rowe Price.

CITY NATIONAL ROCHDALE FUNDS \| PAGE 100

![](fp0095915-2_101.jpg)

![](fp0095915-2_102.jpg)

CNR-AR-001-2400

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

Included under Item 7.

**Item 9. Proxy Disclosures for Open-End Management Investment Companies.**

Included under Item 7.

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

Included under Item 7.

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

Included under Item 7.

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

Not applicable to open-end management investment companies.

**Item 13. Portfolio Managers of Closed-End Management Investment Companies.**

Not applicable to open-end management investment companies.

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

Not applicable to open-end management investment companies.

**Item 15. Submission of Matters to a Vote of Security Holders.**

There have been no material changes to the procedures by which shareholders may recommend nominees to the Registrant's Board of Trustees during the period covered by this report.

 **Item 16. Controls and Procedures.**

(a) The Registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the Registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Act (17 CFR 270.30a-3(c))) as of a date within 90 days of the filing date of the report, are effective based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Exchange Act (17 CFR 240.13a-15(b) or 240.15d-15(b)).

(b) There has been no change in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Act (17 CFR 270.30a-3(d)) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant's internal control over financial reporting.

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

Not applicable to open-end management investment companies.

**Items 18. Recovery of Erroneously Awarded Compensation.**

(a) Not applicable.

(b) Not applicable.

**Items 19. Exhibits.**

[(a)(1) Code of Ethics is attached hereto.](fp0095915-1_ex99code.htm)

(a)(2) Not applicable.

[(a)(3) A separate certification for each principal executive officer and principal financial officer of the Registrant as required by Rule 30a-2(a) under the Act (17 CFR 270.30a-2(a)), are filed herewith.](fp0095915-1_ex99cert.htm)

(a)(4) Not applicable.

(a)(5) Not applicable.

[(b) Officer certifications as required by Rule 30a-2(b) under the Act (17 CFR 270.30a-2(b)), are filed herewith.](fp0095915-1_ex99906cert.htm)

**SIGNATURES**

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.

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| | |
|:---|:---|
| (Registrant) | City National Rochdale Funds |
| By (Signature and Title) | /s/ Gregg Giaquinto |
|  | Gregg Giaquinto, |
|  | Principal Executive Officer |
| Date: December 5, 2025 |  |

---

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 persons on behalf of the Registrant and in the capacities and on the dates indicated.

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| | |
|:---|:---|
| By (Signature and Title) | /s/ Gregg Giaquinto |
|  | Gregg Giaquinto, |
|  | Principal Executive Officer |
| Date: December 5, 2025 |  |

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| | |
|:---|:---|
| By (Signature and Title) | /s/ Andrew Metzger |
|  | Andrew Metzger, |
|  | Principal Financial Officer |
| Date: December 5, 2025 |  |

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## Ex-99.Code

**City National Rochdale Supplemental Code of Ethics for Principal Officers and Senior Financial Officers**

The Board of Trustees (the "Board") of the City National Rochdale Funds (the "Trust") has adopted this Supplemental Code of Ethics (the "Code") for the Trust's Principal Officers and Senior Financial Officers (the "Officers") to guide and remind the Officers of their responsibilities to the Trust, other Officers, shareholders of the Trust, and governmental authorities. Officers are expected to act in accordance with the guidance and standards set forth in this Code.

For the purposes of this Code, the Trust's Principal Officers and Senior Financial Officers shall include: the Principal Executive Officer; the Principal Financial Officer; the Principal Accounting Officer; the Controller; and any persons performing similar functions on behalf of the Trust, regardless of whether such persons are employed by the Trust or a third party.

This Code is intended to serve as the code of ethics described in Section 406 of The Sarbanes-Oxley Act of 2002 and Form N-CSR. To the extent that an Officer is subject to the Trust's code of ethics adopted pursuant to Rule 17j-1 of the ICA, as amended (the "Rule 17j-1 Code"), this Code is intended to supplement and be interpreted in the context of the Rule 17j-1 Code. This Code also should be interpreted in the context of all applicable laws, regulations, the Trust's Agreement and Declaration of Trust and Bylaws, as amended, and all other governance and disclosure policies and documents adopted by the Board. All Officers must become familiar and fully comply with this Code. Because this Code cannot and does not cover every applicable law or provide answers to all questions that might arise, all Officers are expected to use common sense about what is right and wrong, including a sense of when it is proper to seek guidance from others on the appropriate course of conduct.

The purpose of this Code is to set standards for the Officers that are reasonably designed to deter wrongdoing and are necessary to promote:

● honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships;

● full, fair, accurate, timely, and understandable disclosure in reports and documents that the Trust files with, or submits to, the Securities and Exchange Commission (the "SEC") and in any other public communications by the Trust;

● compliance with applicable governmental laws, rules and regulations;

● the prompt internal reporting of violations of the Code to the appropriate persons as set forth in the Code; and

● accountability for adherence to the Code.

1. Honest and Ethical Conduct

a. Honesty, Diligence and Professional Responsibility

Officers are expected to observe both the form and the spirit of the ethical principles contained in this Code. Officers must perform their duties and responsibilities for the Trust:

● with honesty, diligence, and a commitment to professional and ethical responsibility;

● carefully, thoroughly and in a timely manner; and

● in conformity with applicable professional and technical standards.

Officers who are certified public accountants are expected carry out their duties and responsibilities in a manner consistent with the principles governing the accounting profession, including any guidelines or principles issued by the Public Company Accounting Oversight Board or the American Institute of Certified Public Accountants from time to time.

b. Objectivity / Avoidance of Undisclosed Conflicts of Interest

Officers are expected to maintain objectivity and avoid undisclosed conflicts of interest. In the performance of their duties and responsibilities for the Trust, Officers must not subordinate their judgment to personally gain an advantage, or be unduly influenced by their own interests or by the interests of others. Officers must avoid participation in any activity or relationship that constitutes a conflict of interest unless that conflict has been completely disclosed to affected parties. Further, Officers should avoid participation in any activity or relationship that could create the appearance of a conflict of interest.

A conflict of interest would generally arise if an Officer directly or indirectly participated in any investment, interest, association, activity or relationship that may impair or appear to impair the Officer's objectivity.

Any Officer who may be involved in a situation or activity that might be a conflict of interest or give the appearance of a conflict of interest should consider reporting such situation or activity using the reporting procedures set forth in Section 4 of this Code.

The Audit Committee will not be responsible for monitoring or enforcing this conflict of interest policy, but rather each Officer is responsible for self-compliance with this conflict of interest policy.

c. Preparation of Financial Statements

Officers must not knowingly make any misrepresentations regarding the Trust's financial statements or any facts in the preparation of the Trust's financial statements, and must comply with all applicable laws, standards, principles, guidelines, rules and regulations in the preparation of the Trust's financial statements. This section is intended to prohibit:

● making, or permitting or directing another to make, materially false or misleading entries in the Trust's financial statements or records;

● failing to correct the Trust's financial statements or records that are materially false or misleading when he or she has the authority to record an entry; and

● signing, or permitting or directing another to sign, a document containing materially false or misleading financial information.

Officers must be scrupulous in their application of generally accepted accounting principles. No Officer may (i) express an opinion or state affirmatively that the financial statements or other financial data of the Trust are presented in conformity with generally accepted accounting principles, or (ii) state that he or she is not aware of any material modifications that should be made to such statements or data in order for them to be in conformity with generally accepted accounting principles, if such statements or data contain any departure from generally accepted accounting principles then in effect in the United States.

Officers must follow the laws, standards, principles, guidelines, rules and regulations established by all applicable governmental bodies, commissions or other regulatory agencies in the preparation of financial statements, records and related information. If an Officer prepares financial statements, records or related information for purposes of reporting to such bodies, commissions or regulatory agencies, the Officer must follow the requirements of such organizations in addition to generally accepted accounting principles.

If an Officer and his or her supervisor have a disagreement or dispute relating to the preparation of financial statements or the recording of transactions, the Officer should take the following steps to ensure that the situation does not constitute an impermissible subordination of judgment:

● The Officer should consider whether (i) the entry or the failure to record a transaction in the records, or (ii) the financial statement presentation or the nature or omission of disclosure in the financial statements, as proposed by the supervisor, represents the use of an acceptable alternative and does not materially misrepresent the facts or result in an omission of a material fact. If, after appropriate research or consultation, the Officer concludes that the matter has authoritative support and/or does not result in a material misrepresentation, the Officer need do nothing further.

● If the Officer concludes that the financial statements or records could be materially misstated as a result of the supervisor's determination, the Officer should follow the reporting procedures set forth in Section 4 of this Code.

d. Obligations to the Independent Auditor of the Trust

In dealing with the Trust's independent auditor, Officers must be candid and not knowingly misrepresent facts or knowingly fail to disclose material facts, and must respond to specific inquiries and requests by the Trust's independent auditor.

Officers must not take any action, or direct any person to take any action, to fraudulently influence, coerce, manipulate or mislead the Trust's independent auditor in the performance of an audit of the Trust's financial statements for the purpose of rendering such financial statements materially misleading.

2. Full, Fair, Accurate, Timely and Understandable Disclosure

It is the Trust's policy to provide full, fair, accurate, timely, and understandable disclosure in reports and documents that the Trust files with, or submits to, the SEC and in any other public communications by the Trust. The Trust has designed and implemented Disclosure Controls and Procedures to carry out this policy.

Officers are expected to use their best efforts to promote, facilitate, and prepare full, fair, accurate, timely, and understandable disclosure in all reports and documents that the Trust files with, or submits to, the SEC and in any other public communications by the Trust.

Officers must review the Trust's Disclosure Controls and Procedures to ensure they are aware of and carry out their duties and responsibilities in accordance with the Disclosure Controls and Procedures and the public reporting obligations of the Trust. Officers are responsible for monitoring the integrity and effectiveness of the Trust's Disclosure Controls and Procedures.

3. Compliance with Applicable Laws, Rules and Regulations

Officers are expected to know, respect and comply with all laws, rules and regulations applicable to the conduct of the Trust's business. If an Officer is in doubt about the legality or propriety of an action, business practice or policy, the Officer should seek advice from the Officer's supervisor or the Trust's legal counsel.

In the performance of their work, Officers must not knowingly be a party to any illegal activity or engage in acts that are discreditable to the Trust.

Officers are expected to promote the Trust's compliance with applicable laws, rules and regulations. To promote such compliance, Officers may establish and maintain mechanisms to educate employees carrying out the finance and compliance functions of the Trust about any applicable laws, rules or regulations that affect the operation of the finance and compliance functions and the Trust generally.

4. Reporting of Illegal or Unethical Behavior

Officers should promptly report any conduct or actions by an Officer that do not comply with the law or with this Code. Officers and the Trust shall adhere to the following reporting procedures:

● Any Officer who questions whether a situation, activity or practice is acceptable must immediately report such practice to the Principal Executive Officer of the Trust (or to an Officer who is the functional equivalent of this position) or to the Trust's legal counsel. The person receiving the report shall consider the matter and respond to the Officer within a reasonable amount of time.

● If the Officer is not satisfied with the response of the Principal Executive Officer or counsel, the Officer must report the matter to the Chairman of the Audit Committee. If the Chairman is unavailable, the Officer may report the matter to any other member of the Audit Committee. The person receiving the report shall consider the matter, refer it to the full Audit Committee if he or she deems appropriate, and respond to the Officer within a reasonable amount of time.

● If, after receiving a response, the Officer concludes that appropriate action was not taken, he or she should consider any responsibility that may exist to communicate to third parties, such as regulatory authorities or the Trust's independent auditor. In this matter, the Officer may wish to consult with his or her own legal counsel.

● The Audit Committee and the Trust will not be responsible for monitoring or enforcing this reporting of violations policy, but rather each Officer is responsible for self-compliance with this reporting of violations policy.

● To the extent possible and as allowed by law, reports will be treated as confidential.

● If the Audit Committee determines that an Officer violated this Code, failed to report a known or suspected violation of this Code, or provided intentionally false or malicious information in connection with an alleged violation of this Code, the Trust may take disciplinary action against any such Officer to the extent the Audit Committee deems appropriate. No Officer will be disciplined for reporting a concern in good faith.

● The Trust and the Audit Committee may report violations of the law to the appropriate authorities.

5. Accountability and Applicability

*All Officers will be held accountable for adherence to this Code. On an annual basis, within 30 days of the beginning of each calendar year, each Officer shall certify in writing his or her receipt, familiarity and commitment to compliance with this Code, by signing the Acknowledgment Form (Exhibit A to this Code).*

This Code is applicable to all Officers, regardless of whether such persons are employed by the Trust or a third party. If an Officer is aware of a person ("Potential Officer") who may be considered an Officer as defined by this Code, the Officer should inform legal counsel to the Trust of such Potential Officer so that a determination can be made regarding whether such Potential Officer has completed or should complete an Acknowledgment Form. However, the absence of such a determination will not be deemed to relieve any person of his or her duties under this Code.

6. Disclosure of this Code

This Code shall be disclosed by at least one of the following methods in the manner prescribed by the SEC, unless otherwise required by law:

● by filing a copy of the Code with the SEC;

● by posting the text of the Code on the Trust's website; or

● by providing, without charge, a copy of the Code to any person upon request.

7. Waivers

Any waiver of this Code, including an implicit waiver, that has been granted to an Officer, may be made only by the Board or a committee of the Board to which such responsibility has been delegated, and must be disclosed by the Trust in the manner prescribed by law and as set forth above in Section 6 (Disclosure of this Code).

8. Amendments

This Code may be amended by the affirmative vote of a majority of the Board. Any amendment of this Code, must be disclosed by the Trust in the manner prescribed by law and as set forth above in Section 6 (Disclosure of this Code), unless such amendment is deemed to be technical, administrative, or otherwise non-substantive. Any amendments to this Code will be provided to the Officers.

Approved by the Board of Trustees on August 14, 2003.

Amended: September 10, 2013 (for Trust name changes)

Amended: November 8, 2022

**Exhibit A**

**City National Rochdale FUNDS**

**Certification and Acknowledgment of Receipt of Supplemental Code of Ethics for Principal Officers and Senior Financial Officers**

I acknowledge and certify that I have received a copy of the City National Rochdale Funds' Supplemental Code of Ethics for Principal Officers and Senior Financial Officers (the "Code"). I understand and agree that it is my responsibility to read and familiarize myself with the policies and procedures contained in the Code and to abide by those policies and procedures.

I acknowledge my commitment to comply with the Code.

Officer Name (Please Print) Officer Signature <br>Date

## Ex-99.Cert

**CERTIFICATION**

**Pursuant to Rule 30a-2(a) under the Investment Company Act of 1940**

**and Section 302 of the Sarbanes-Oxley Act of 2002**

I, Gregg Giaquinto, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this report on Form N-CSR of the City National Rochdale Funds (the "Registrant");

&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact or
omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial statements, and other financial information, included in this
report fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash
flows (if the financial statements are required to include a statement of cash flows) of the Registrant as of, and for, the periods
presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;4. The Registrant's other certifying officer(s), if any, and I are responsible for establishing
and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal
control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and
have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure
controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including
its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this
report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such
internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability
of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted
accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the Registrant's disclosure controls
and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures,
as of a date within 90 days prior to the filing date of this report, based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the Registrant's internal control
over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably
likely to materially affect, the Registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;5. The Registrant's other certifying officer(s) and I have disclosed to the Registrant's
auditors and the audit committee of the Registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation
of internal control over financial reporting which are reasonably likely to adversely affect the Registrant's ability to
record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees
who have a significant role in the Registrant's internal control over financial reporting.

---

| |
|:---|
| Date: December 5, 2025 |
| /s/ Gregg Giaquinto |
| Gregg Giaquinto |
| Principal Executive Officer |

---

**CERTIFICATION**

**Pursuant to Rule 30a-2(a) under the Investment Company Act of 1940**

**and Section 302 of the Sarbanes-Oxley Act of 2002**

I, Andrew Metzger, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this report on Form N-CSR of the City National Rochdale Funds (the "Registrant");

&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact or
omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial statements, and other financial information, included in this
report fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash
flows (if the financial statements are required to include a statement of cash flows) of the Registrant as of, and for, the periods
presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;4. The Registrant's other certifying officer(s), if any, and I are responsible for establishing
and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal
control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and
have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure
controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including
its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this
report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such
internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability
of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted
accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the Registrant's disclosure controls
and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures,
as of a date within 90 days prior to the filing date of this report, based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the Registrant's internal control
over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably
likely to materially affect, the Registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;5. The Registrant's other certifying officer(s) and I have disclosed to the Registrant's
auditors and the audit committee of the Registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation
of internal control over financial reporting which are reasonably likely to adversely affect the Registrant's ability to
record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees
who have a significant role in the Registrant's internal control over financial reporting.

---

| |
|:---|
| Date: December 5, 2025 |
| /s/ Andrew Metzger |
| Andrew Metzger |
| Principal Financial Officer |

---

## Exhibit 99.906

**CERTIFICATION**

**Pursuant to 18 U.S.C. Section 1350, As Adopted Pursuant to Section 906**

**of the Sarbanes-Oxley Act of 2002**

The undersigned, Gregg Giaquinto, the Principal Executive Officer of the City National Rochdale Funds (the "Fund"), with respect to the Fund's Form N-CSR for the period ended September 30, 2025, as filed with the Securities and Exchange Commission, hereby certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. such Form N-CSR fully complies with the requirements of Section 13(a) or
15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. the information contained in such Form N-CSR fairly presents, in all material
respects, the financial condition and results of operations of the Fund.

Dated: December 5, 2025

---

| |
|:---|
| /s/ Gregg Giaquinto |
| Gregg Giaquinto |
| Principal Executive Officer |

---

**CERTIFICATION**

**Pursuant to 18 U.S.C. Section 1350, As Adopted Pursuant to Section 906**

**of the Sarbanes-Oxley Act of 2002**

The undersigned, Andrew Metzger, the Principal Financial Officer of the City National Rochdale Funds (the "Fund"), with respect to the Fund's Form N-CSR for the period ended September 30, 2025, as filed with the Securities and Exchange Commission, hereby certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. such Form N-CSR fully complies with the requirements of Section 13(a) or
15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. the information contained in such Form N-CSR fairly presents, in all material
respects, the financial condition and results of operations of the Fund.

Dated: December 5, 2025

---

| |
|:---|
| /s/ Andrew Metzger |
| Andrew Metzger |
| Principal Financial Officer |

---