# EDGAR Filing Document

**Accession Number:** 0001618627
**File Stem:** 0000894189-26-002088
**Filing Date:** 2026-1
**Character Count:** 41570
**Document Hash:** a1e302c45a80a705b2c6193c022022b8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-26-002088.hdr.sgml**: 20260128

**ACCESSION NUMBER**: 0000894189-26-002088

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260128

**DATE AS OF CHANGE**: 20260128

**PERIOD START**: 20260831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** RBB Fund Trust
- **CENTRAL INDEX KEY:** 0001618627

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23011
- **FILM NUMBER:** 26569398

**BUSINESS ADDRESS:**
- **STREET 1:** 615 EAST MICHIGAN STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202
- **BUSINESS PHONE:** 609-731-6256

**MAIL ADDRESS:**
- **STREET 1:** 615 EAST MICHIGAN STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PENN Capital Funds Trust
- **DATE OF NAME CHANGE:** 20140904

## Series and Classes Contracts Data

### Penn Capital Special Situations Small Cap Equity Fund (Series ID: S000048027)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000151488 | Institutional Class | PSCNX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Penn Capital Special Situations Small Cap Equity Fund** | **Penn Capital Special Situations Small Cap Equity Fund** | **Penn Capital Special Situations Small Cap Equity Fund** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **November 30, 2025 (Unaudited)** | **November 30, 2025 (Unaudited)** | **November 30, 2025 (Unaudited)** |
| **COMMON STOCKS - 98.9%** | **Shares** | **Value**  |
| **Aerospace & Defense - 3.7%** | **Aerospace & Defense - 3.7%** | |
| Mercury Systems, Inc. <sup>(a)</sup> | 12572 | $878657 |
| TAT Technologies Ltd. <sup>(a)</sup> | 24029 | 923194 |
| VSE Corp. | 5642 | 1016632 |
|  |  | 2818483 |
| **Air Freight & Logistics - 1.3%** | **Air Freight & Logistics - 1.3%** |  |
| GXO Logistics, Inc. <sup>(a)</sup> | 19376 | 983138 |
| **Banks - 10.0%** | **Banks - 10.0%** |  |
| Ameris Bancorp | 18428 | 1396105 |
| Banc of California, Inc. | 66702 | 1229985 |
| Bancorp, Inc. <sup>(a)</sup> | 13986 | 896083 |
| Dime Community Bancshares, Inc. | 35244 | 999168 |
| FB Financial Corp. | 19141 | 1069216 |
| Popular, Inc. | 7887 | 904718 |
| Texas Capital Bancshares, Inc. <sup>(a)</sup> | 12219 | 1101787 |
|  |  | 7597062 |
| **Biotechnology - 3.3%** | **Biotechnology - 3.3%** |  |
| Mirum Pharmaceuticals, Inc. <sup>(a)</sup> | 18941 | 1383640 |
| TG Therapeutics, Inc. <sup>(a)</sup> | 33873 | 1126616 |
|  |  | 2510256 |
| **Building Products - 1.5%** | **Building Products - 1.5%** |  |
| Modine Manufacturing Co. <sup>(a)</sup> | 6972 | 1130370 |
| **Capital Markets - 2.7%** | **Capital Markets - 2.7%** |  |
| GCM Grosvenor, Inc. - Class A | 35122 | 385640 |
| Lazard, Inc. | 16707 | 843704 |
| Perella Weinberg Partners | 44790 | 817865 |
|  |  | 2047209 |
| **Chemicals - 2.5%** | **Chemicals - 2.5%** |  |
| ASP Isotopes, Inc. <sup>(a)</sup> | 48094 | 299144 |
| Chemours Co. | 81434 | 1041541 |
| HB Fuller Co. | 9274 | 540489 |
|  |  | 1881174 |
| **Communications Equipment - 3.8%** | **Communications Equipment - 3.8%** |  |
| Applied Optoelectronics, Inc. <sup>(a)</sup> | 40147 | 1075137 |
| Calix, Inc. <sup>(a)</sup> | 14655 | 809982 |
| Extreme Networks, Inc. <sup>(a)</sup> | 58714 | 1027495 |
|  |  | 2912614 |
| **Construction & Engineering - 2.4%** | **Construction & Engineering - 2.4%** |  |
| Centuri Holdings, Inc. <sup>(a)</sup> | 16877 | 379564 |
| Dycom Industries, Inc. <sup>(a)</sup> | 3914 | 1415028 |
|  |  | 1794592 |
| **Construction Materials - 1.3%** | **Construction Materials - 1.3%** |  |
| Knife River Corp. <sup>(a)</sup> | 13441 | 1005925 |
| **Consumer Finance - 1.0%** | **Consumer Finance - 1.0%** |  |
| OneMain Holdings, Inc. | 12814 | 794853 |
| **Consumer Staples Distribution & Retail - 1.2%** | **Consumer Staples Distribution & Retail - 1.2%** |  |
| Chefs' Warehouse, Inc. <sup>(a)</sup> | 15306 | 938564 |
| **Diversified Telecommunication Services - 1.9%** | **Diversified Telecommunication Services - 1.9%** |  |
| Lumen Technologies, Inc. <sup>(a)</sup> | 145465 | 1179721 |
| Uniti Group, Inc. <sup>(a)</sup> | 38798 | 247144 |
|  |  | 1426865 |
| **Electronic Equipment, Instruments & Components - 2.2%** | **Electronic Equipment, Instruments & Components - 2.2%** |  |
| Itron, Inc. <sup>(a)</sup> | 7165 | 709621 |
| Ouster, Inc. <sup>(a)</sup> | 41856 | 961014 |
|  |  | 1670635 |
| **Energy Equipment & Services - 5.8%** | **Energy Equipment & Services - 5.8%** |  |
| National Energy Services Reunited Corp. <sup>(a)</sup> | 36473 | 508434 |
| Select Water Solutions, Inc. | 76140 | 769014 |
| Solaris Energy Infrastructure, Inc. | 17814 | 853113 |
| Transocean Ltd. <sup>(a)</sup> | 212186 | 935740 |
| Weatherford International PLC | 18513 | 1384772 |
|  |  | 4451073 |
| **Financial Services - 1.1%** | **Financial Services - 1.1%** |  |
| NCR Atleos Corp. <sup>(a)</sup> | 21734 | 805679 |
| **Ground Transportation - 1.1%** | **Ground Transportation - 1.1%** |  |
| RXO, Inc. <sup>(a)</sup> | 63820 | 843700 |
| **Health Care Equipment & Supplies - 2.0%** | **Health Care Equipment & Supplies - 2.0%** |  |
| Alphatec Holdings, Inc. <sup>(a)</sup> | 68080 | 1535204 |
| **Health Care Providers & Services - 2.5%** | **Health Care Providers & Services - 2.5%** |  |
| Acadia Healthcare Co., Inc. <sup>(a)</sup> | 25758 | 443038 |
| RadNet, Inc. <sup>(a)</sup> | 17869 | 1479374 |
|  |  | 1922412 |
| **Health Care Technology - 1.4%** | **Health Care Technology - 1.4%** |  |
| Waystar Holding Corp. <sup>(a)</sup> | 29130 | 1075188 |
| **Hotel & Resort REITs - 1.0%** | **Hotel & Resort REITs - 1.0%** |  |
| Ryman Hospitality Properties, Inc. | 8213 | 783767 |
| **Hotels, Restaurants & Leisure - 13.5%** | **Hotels, Restaurants & Leisure - 13.5%** |  |
| Boyd Gaming Corp. | 11289 | 940374 |
| Caesars Entertainment, Inc. <sup>(a)</sup> | 47713 | 1110281 |
| First Watch Restaurant Group, Inc. <sup>(a)</sup> | 72078 | 1337768 |
| Genius Sports Ltd. <sup>(a)</sup> | 94053 | 947114 |
| Life Time Group Holdings, Inc. <sup>(a)</sup> | 31699 | 885036 |
| Lindblad Expeditions Holdings, Inc. <sup>(a)</sup> | 62494 | 751803 |
| Penn Entertainment, Inc. <sup>(a)</sup> | 102966 | 1528015 |
| Pursuit Attractions and Hospitality, Inc. <sup>(a)</sup> | 24830 | 852414 |
| Rush Street Interactive, Inc. <sup>(a)</sup> | 55186 | 1017630 |
| United Parks & Resorts, Inc. <sup>(a)</sup> | 25988 | 937907 |
|  |  | 10308342 |
| **Machinery - 2.1%** | **Machinery - 2.1%** |  |
| Astec Industries, Inc. | 13566 | 600431 |
| Gates Industrial Corp. PLC <sup>(a)</sup> | 44330 | 1008951 |
|  |  | 1609382 |
| **Media - 5.7%** | **Media - 5.7%** |  |
| EW Scripps Co. - Class A <sup>(a)</sup> | 222015 | 939123 |
| Gray Media, Inc. | 186823 | 919169 |
| Magnite, Inc. <sup>(a)</sup> | 43398 | 637517 |
| Nexstar Media Group, Inc. | 6340 | 1218168 |
| Stagwell, Inc. <sup>(a)</sup> | 121328 | 650318 |
|  |  | 4364295 |
| **Metals & Mining - 1.5%** | **Metals & Mining - 1.5%** |  |
| Eldorado Gold Corp. <sup>(a)</sup> | 35368 | 1107372 |
| **Oil, Gas & Consumable Fuels - 3.9%** | **Oil, Gas & Consumable Fuels - 3.9%** |  |
| California Resources Corp. | 18447 | 881398 |
| Gulfport Energy Corp. <sup>(a)</sup> | 6097 | 1356521 |
| Northern Oil & Gas, Inc. | 31167 | 697829 |
|  |  | 2935748 |
| **Pharmaceuticals - 5.0%** | **Pharmaceuticals - 5.0%** |  |
| Amneal Pharmaceuticals, Inc. <sup>(a)</sup> | 64706 | 810119 |
| ANI Pharmaceuticals, Inc. <sup>(a)</sup> | 6597 | 559756 |
| Harrow, Inc. <sup>(a)</sup> | 25121 | 1049555 |
| Ligand Pharmaceuticals, Inc. <sup>(a)</sup> | 6942 | 1410476 |
|  |  | 3829906 |
| **Professional Services - 1.9%** | **Professional Services - 1.9%** |  |
| Amentum Holdings, Inc. <sup>(a)</sup> | 50035 | 1432502 |
| **Real Estate Management & Development - 1.6%** | **Real Estate Management & Development - 1.6%** |  |
| Newmark Group, Inc. - Class A | 71379 | 1240567 |
| **Semiconductors & Semiconductor Equipment - 2.5%** | **Semiconductors & Semiconductor Equipment - 2.5%** |  |
| ACM Research, Inc. - Class A <sup>(a)</sup> | 29126 | 973100 |
| Camtek Ltd./Israel <sup>(a)</sup> | 8517 | 896797 |
|  |  | 1869897 |
| **Software - 4.1%** | **Software - 4.1%** |  |
| Agilysys, Inc. <sup>(a)</sup> | 8833 | 1086106 |
| Opera Ltd. - ADR | 36092 | 491573 |
| SimilarWeb Ltd. <sup>(a)</sup> | 84916 | 664892 |
| Zeta Global Holdings Corp. - Class A <sup>(a)</sup> | 47312 | 863444 |
|  |  | 3106015 |
| **Specialty Retail - 1.5%** | **Specialty Retail - 1.5%** |  |
| RealReal, Inc. <sup>(a)</sup> | 80461 | 1165075 |
| **Textiles, Apparel & Luxury Goods - 0.5%** | **Textiles, Apparel & Luxury Goods - 0.5%** |  |
| PVH Corp. | 4586 | 388709 |
| **Trading Companies & Distributors - 1.4%** | **Trading Companies & Distributors - 1.4%** |  |
| DNOW, Inc. <sup>(a)</sup> | 73392 | 1024552 |
| **TOTAL COMMON STOCKS** (Cost $66,182,207) | **TOTAL COMMON STOCKS** (Cost $66,182,207) | 75311125 |
| **TOTAL INVESTMENTS - 98.9% (**Cost $66,182,207**)** | **TOTAL INVESTMENTS - 98.9% (**Cost $66,182,207**)** | 75311125 |
| Other Assets in Excess of Liabilities - 1.1% | Other Assets in Excess of Liabilities - 1.1% | 866868 |
| **TOTAL NET ASSETS - 100.0%** |  | $76177993 |
| Percentages are stated as a percent of net assets. -% | Percentages are stated as a percent of net assets. -% |  |
| The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. | The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. | The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. |

---

ADR - American Depositary Receipt <br> PLC - Public Limited Company <br> REIT - Real Estate Investment Trust

(a) Non-income producing security.

------

#### <br>

#### Summary of Fair Value Disclosure as of November 30, 2025 (Unaudited)
Penn Capital Special Situations Small Cap Equity Fund (the "Fund") has adopted fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

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

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

The following is a summary of the fair valuation hierarchy of the Fund's securities as of November 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $75311125 | $– | $– | $75311125 |
| Total Investments | $75311125 | $– | $– | $75311125 |
| Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. |

---

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** RBB Fund Trust

- **b. Investment Company Act file number:** 811-23011

- **c. CIK number of Registrant:** 0001618627

- **d. LEI of Registrant:** 549300LEC95RYURPL757

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 615 East Michigan Street

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53202

  - **Telephone number:** 262-378-6278

**Item A.2. Information about the Series.**

- **a. Name of Series:** Penn Capital Special Situations Small Cap Equity Fund

- **b. EDGAR series identifier (if any):** S000048027

- **c. LEI of Series:** 54930055H78RHJOE5C94

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-08-31

- **b. Date as of which information is reported:** 2025-11-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $76265379.62

**Total Liabilities:** $128184.33

**Net Assets:** $76137195.29

**Cash Not Reported:** $124633.90

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000151488 | 0.17%                | -2.22%               | 0.11%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1337898.52              | $-1267639.56                               |
| Month 2  | $1684728.85              | $-3311931.28                               |
| Month 3  | $-196412.78              | $334113.22                                 |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                           | Title                                   | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Northern Oil & Gas Inc         | Northern Oil & Gas Inc                  | CUSIP: 665531307<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | EC               | CORP              | US        |     31167 | NS      | $697829.13    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| TG Therapeutics Inc            | TG Therapeutics Inc                     | CUSIP: 88322Q108<br>LEI: 529900X21UKABN9NJ529 | Long             | EC               | CORP              | US        |     33873 | NS      | $1126615.98   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Transocean Ltd                 | Transocean Ltd                          | CUSIP: N/A<br>LEI: 529900QO4W5DQGBGEF32       | Long             | EC               | CORP              | CH        |    212186 | NS      | $935740.26    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Dycom Industries Inc           | Dycom Industries Inc                    | CUSIP: 267475101<br>LEI: 549300F56EKTHQI3WT60 | Long             | EC               | CORP              | US        |      3914 | NS      | $1415028.42   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Amneal Pharmaceuticals Inc     | Amneal Pharmaceuticals Inc              | CUSIP: 03168L105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     64706 | NS      | $810119.12    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| GCM Grosvenor Inc              | GCM Grosvenor Inc                       | CUSIP: 36831E108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     35122 | NS      | $385639.56    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Harrow Inc                     | Harrow Inc                              | CUSIP: 415858109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     25121 | NS      | $1049555.38   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Lazard Inc                     | Lazard Inc                              | CUSIP: 52110M109<br>LEI: 254900RIBCDJSUFG1A11 | Long             | EC               | CORP              | US        |     16707 | NS      | $843703.50    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Ligand Pharmaceuticals Inc     | Ligand Pharmaceuticals Inc              | CUSIP: 53220K504<br>LEI: 5493008K7TB0IKP37H79 | Long             | EC               | CORP              | US        |      6942 | NS      | $1410475.56   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Mirum Pharmaceuticals Inc      | Mirum Pharmaceuticals Inc               | CUSIP: 604749101<br>LEI: 254900YZKR40F7F27K81 | Long             | EC               | CORP              | US        |     18941 | NS      | $1383640.05   | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| NCR Atleos Corp                | NCR Atleos Corp                         | CUSIP: 63001N106<br>LEI: 9845005FC3S0VA714741 | Long             | EC               | CORP              | US        |     21734 | NS      | $805679.38    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| DNOW Inc                       | DNOW Inc                                | CUSIP: 67011P100<br>LEI: 549300AVH5SOCFVVDW91 | Long             | EC               | CORP              | US        |     73392 | NS      | $1024552.32   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| PVH Corp                       | PVH Corp                                | CUSIP: 693656100<br>LEI: 123WALMHY1GZXG2YDL90 | Long             | EC               | CORP              | US        |      4586 | NS      | $388709.36    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryman Hospitality Properties I | Ryman Hospitality Properties Inc        | CUSIP: 78377T107<br>LEI: 529900GCCWW9SRMPJR11 | Long             | EC               | CORP              | US        |      8213 | NS      | $783766.59    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Capital Bancshares Inc   | Texas Capital Bancshares Inc            | CUSIP: 88224Q107<br>LEI: 549300466Q2SXRX0YM48 | Long             | EC               | CORP              | US        |     12219 | NS      | $1101787.23   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Weatherford International PLC  | Weatherford International PLC           | CUSIP: N/A<br>LEI: 529900LPBDSCQDJKHQ39       | Long             | EC               | CORP              | US        |     18513 | NS      | $1384772.40   | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Extreme Networks Inc           | Extreme Networks Inc                    | CUSIP: 30226D106<br>LEI: 549300WRECW11X94UB57 | Long             | EC               | CORP              | US        |     58714 | NS      | $1027495.00   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Chefs' Warehouse Inc/The       | Chefs' Warehouse Inc/The                | CUSIP: 163086101<br>LEI: 549300JYEDC8C547E980 | Long             | EC               | CORP              | US        |     15306 | NS      | $938563.92    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| GXO Logistics Inc              | GXO Logistics Inc                       | CUSIP: 36262G101<br>LEI: 5493007CNWMXN78JRN66 | Long             | EC               | CORP              | US        |     19376 | NS      | $983138.24    | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| RXO Inc                        | RXO Inc                                 | CUSIP: 74982T103<br>LEI: 549300KL8CA6GP8XPM30 | Long             | EC               | CORP              | US        |     63820 | NS      | $843700.40    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Rush Street Interactive Inc    | Rush Street Interactive Inc             | CUSIP: 782011100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     55186 | NS      | $1017629.84   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| United Parks & Resorts Inc     | United Parks & Resorts Inc              | CUSIP: 81282V100<br>LEI: 529900G0H4NV3IIK3269 | Long             | EC               | CORP              | US        |     25988 | NS      | $937906.92    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| US BANK MMDA - USBFS 2         | US BANK MMDA - USBFS 2                  | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | RF                | US        |    791429 | NS      | $791428.89    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| ACM Research Inc               | ACM Research Inc                        | CUSIP: 00108J109<br>LEI: 549300MCTENUWL2GJL61 | Long             | EC               | CORP              | US        |     29126 | NS      | $973099.66    | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Agilysys Inc                   | Agilysys Inc                            | CUSIP: 00847J105<br>LEI: 5299001XWB5V3B5IPN93 | Long             | EC               | CORP              | US        |      8833 | NS      | $1086105.68   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| First Watch Restaurant Group I | First Watch Restaurant Group Inc        | CUSIP: 33748L101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     72078 | NS      | $1337767.68   | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Gulfport Energy Corp           | Gulfport Energy Corp                    | CUSIP: 402635502<br>LEI: 254900DJRGZBUZ3F5038 | Long             | EC               | CORP              | US        |      6097 | NS      | $1356521.53   | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| RadNet Inc                     | RadNet Inc                              | CUSIP: 750491102<br>LEI: 529900RECG94V2IZJ970 | Long             | EC               | CORP              | US        |     17869 | NS      | $1479374.51   | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphatec Holdings Inc          | Alphatec Holdings Inc                   | CUSIP: 02081G201<br>LEI: 549300EZE8CQ8K65FS24 | Long             | EC               | CORP              | US        |     68080 | NS      | $1535204.00   | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Calix Inc                      | Calix Inc                               | CUSIP: 13100M509<br>LEI: 5299002RQRZ4SXSCSJ58 | Long             | EC               | CORP              | US        |     14655 | NS      | $809981.85    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| National Energy Services Reuni | National Energy Services Reunited Corp  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     36473 | NS      | $508433.62    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| TAT Technologies Ltd           | TAT Technologies Ltd                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IL        |     24029 | NS      | $923194.18    | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Centuri Holdings Inc           | Centuri Holdings Inc                    | CUSIP: 155923105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16877 | NS      | $379563.73    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Chemours Co/The                | Chemours Co/The                         | CUSIP: 163851108<br>LEI: 549300M1BOLNXL8DOV14 | Long             | EC               | CORP              | US        |     81434 | NS      | $1041540.86   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| FB Financial Corp              | FB Financial Corp                       | CUSIP: 30257X104<br>LEI: 5493000B2LD2C2A6C435 | Long             | EC               | CORP              | US        |     19141 | NS      | $1069216.26   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Lindblad Expeditions Holdings  | Lindblad Expeditions Holdings Inc       | CUSIP: 535219109<br>LEI: 549300GSPW24GZE6R597 | Long             | EC               | CORP              | US        |     62494 | NS      | $751802.82    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Popular Inc                    | Popular Inc                             | CUSIP: 733174700<br>LEI: 5493008CARDZMVQ3LO89 | Long             | EC               | CORP              | PR        |      7887 | NS      | $904717.77    | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| EW Scripps Co/The              | EW Scripps Co/The                       | CUSIP: 811054402<br>LEI: 549300U1OW41QPKYW028 | Long             | EC               | CORP              | US        |    222015 | NS      | $939123.45    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| VSE Corp                       | VSE Corp                                | CUSIP: 918284100<br>LEI: 549300QWJYQDH4U5XI15 | Long             | EC               | CORP              | US        |      5642 | NS      | $1016631.98   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Waystar Holding Corp           | Waystar Holding Corp                    | CUSIP: 946784105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     29130 | NS      | $1075188.30   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Camtek Ltd/Israel              | Camtek Ltd/Israel                       | CUSIP: N/A<br>LEI: 5493000H80W07HCKGS43       | Long             | EC               | CORP              | IL        |      8517 | NS      | $896797.52    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| SimilarWeb Ltd                 | SimilarWeb Ltd                          | CUSIP: N/A<br>LEI: 254900GWO7PNBAYCPJ12       | Long             | EC               | CORP              | IL        |     84916 | NS      | $664892.28    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Zeta Global Holdings Corp      | Zeta Global Holdings Corp               | CUSIP: 98956A105<br>LEI: 2549008P9XSJQHGQ9S27 | Long             | EC               | CORP              | US        |     47312 | NS      | $863444.00    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Lumen Technologies Inc         | Lumen Technologies Inc                  | CUSIP: 550241103<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | EC               | CORP              | US        |    145465 | NS      | $1179721.15   | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Magnite Inc                    | Magnite Inc                             | CUSIP: 55955D100<br>LEI: 54930018FR2YX1HHSB02 | Long             | EC               | CORP              | US        |     43398 | NS      | $637516.62    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Nexstar Media Group Inc        | Nexstar Media Group Inc                 | CUSIP: 65336K103<br>LEI: 52990083ZRR5UT591988 | Long             | EC               | CORP              | US        |      6340 | NS      | $1218167.60   | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| OneMain Holdings Inc           | OneMain Holdings Inc                    | CUSIP: 68268W103<br>LEI: 549300E3VEW8SMS5XW09 | Long             | EC               | CORP              | US        |     12814 | NS      | $794852.42    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Ouster Inc                     | Ouster Inc                              | CUSIP: 68989M202<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     41856 | NS      | $961013.76    | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Perella Weinberg Partners      | Perella Weinberg Partners               | CUSIP: 71367G102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     44790 | NS      | $817865.40    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Pursuit Attractions and Hospit | Pursuit Attractions and Hospitality Inc | CUSIP: 92552R406<br>LEI: 549300PXU4ZW7LPO5Y40 | Long             | EC               | CORP              | US        |     24830 | NS      | $852413.90    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Genius Sports Ltd              | Genius Sports Ltd                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | GB        |     94053 | NS      | $947113.71    | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Select Water Solutions Inc     | Select Water Solutions Inc              | CUSIP: 81617J301<br>LEI: 54930094OK8LA3QDW486 | Long             | EC               | CORP              | US        |     76140 | NS      | $769014.00    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Solaris Energy Infrastructure  | Solaris Energy Infrastructure Inc       | CUSIP: 83418M103<br>LEI: 529900MTK3C8Y8TIIC10 | Long             | EC               | CORP              | US        |     17814 | NS      | $853112.46    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Stagwell Inc                   | Stagwell Inc                            | CUSIP: 85256A109<br>LEI: 549300KIYTU6J3NYJ009 | Long             | EC               | CORP              | US        |    121328 | NS      | $650318.08    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameris Bancorp                 | Ameris Bancorp                          | CUSIP: 03076K108<br>LEI: PBJHNT51T5V6G5UQFV42 | Long             | EC               | CORP              | US        |     18428 | NS      | $1396105.28   | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Optoelectronics Inc    | Applied Optoelectronics Inc             | CUSIP: 03823U102<br>LEI: 529900I8U6Q5SYDNLT48 | Long             | EC               | CORP              | US        |     40147 | NS      | $1075136.66   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Banc of California Inc         | Banc of California Inc                  | CUSIP: 05990K106<br>LEI: 549300ZKWUJDP6LJ1X87 | Long             | EC               | CORP              | US        |     66702 | NS      | $1229984.88   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Boyd Gaming Corp               | Boyd Gaming Corp                        | CUSIP: 103304101<br>LEI: 254900787YGRYS2A1Z35 | Long             | EC               | CORP              | US        |     11289 | NS      | $940373.70    | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Itron Inc                      | Itron Inc                               | CUSIP: 465741106<br>LEI: 24F6LSZD18II6ICG6S41 | Long             | EC               | CORP              | US        |      7165 | NS      | $709621.60    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Life Time Group Holdings Inc   | Life Time Group Holdings Inc            | CUSIP: 53190C102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     31699 | NS      | $885036.08    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Modine Manufacturing Co        | Modine Manufacturing Co                 | CUSIP: 607828100<br>LEI: Z35SZFYJR8GZZRSIUU09 | Long             | EC               | CORP              | US        |      6972 | NS      | $1130370.36   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmark Group Inc              | Newmark Group Inc                       | CUSIP: 65158N102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     71379 | NS      | $1240567.02   | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Opera Ltd                      | Opera Ltd                               | CUSIP: 68373M107<br>LEI: 5493001ULS7KDNNZ3W51 | Long             | EC               | CORP              | NO        |     36092 | NS      | $491573.04    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Uniti Group Inc                | Uniti Group Inc                         | CUSIP: 912932100<br>LEI: 549300V3NU625PJUVA84 | Long             | EC               | CORP              | US        |     38798 | NS      | $247143.26    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Gates Industrial Corp PLC      | Gates Industrial Corp PLC               | CUSIP: N/A<br>LEI: 549300S6K4FWUSB9KM27       | Long             | EC               | CORP              | US        |     44330 | NS      | $1008950.80   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| ANI Pharmaceuticals Inc        | ANI Pharmaceuticals Inc                 | CUSIP: 00182C103<br>LEI: 5493000T6CXTND40YH31 | Long             | EC               | CORP              | US        |      6597 | NS      | $559755.45    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| ASP Isotopes Inc               | ASP Isotopes Inc                        | CUSIP: 00218A105<br>LEI: 6488WHV94BZ496OZ3219 | Long             | EC               | CORP              | US        |     48094 | NS      | $299144.68    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Astec Industries Inc           | Astec Industries Inc                    | CUSIP: 046224101<br>LEI: 5493002DO2QKHLKB2A48 | Long             | EC               | CORP              | US        |     13566 | NS      | $600431.16    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| California Resources Corp      | California Resources Corp               | CUSIP: 13057Q305<br>LEI: 5493003Q8F0T4F4YMR48 | Long             | EC               | CORP              | US        |     18447 | NS      | $881397.66    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Eldorado Gold Corp             | Eldorado Gold Corp                      | CUSIP: 284902509<br>LEI: 5493004PWQ01YDD1IH62 | Long             | EC               | CORP              | CA        |     35368 | NS      | $1107372.08   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| HB Fuller Co                   | HB Fuller Co                            | CUSIP: 359694106<br>LEI: JSMX3Z5FOYM8V0Q52357 | Long             | EC               | CORP              | US        |      9274 | NS      | $540488.72    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Acadia Healthcare Co Inc       | Acadia Healthcare Co Inc                | CUSIP: 00404A109<br>LEI: 5493005CW985Y9D0NC11 | Long             | EC               | CORP              | US        |     25758 | NS      | $443037.60    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Amentum Holdings Inc           | Amentum Holdings Inc                    | CUSIP: 023939101<br>LEI: 2549009FJIBLW40CU216 | Long             | EC               | CORP              | US        |     50035 | NS      | $1432502.05   | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Bancorp Inc/The                | Bancorp Inc/The                         | CUSIP: 05969A105<br>LEI: 894500FP2ICT1B019Y71 | Long             | EC               | CORP              | US        |     13986 | NS      | $896083.02    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Caesars Entertainment Inc      | Caesars Entertainment Inc               | CUSIP: 12769G100<br>LEI: 549300FA4CTCW903Y781 | Long             | EC               | CORP              | US        |     47713 | NS      | $1110281.51   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Dime Community Bancshares Inc  | Dime Community Bancshares Inc           | CUSIP: 25432X102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     35244 | NS      | $999167.40    | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Gray Media Inc                 | Gray Media Inc                          | CUSIP: 389375106<br>LEI: 529900TM5726KDN7UU35 | Long             | EC               | CORP              | US        |    186823 | NS      | $919169.16    | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Knife River Corp               | Knife River Corp                        | CUSIP: 498894104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13441 | NS      | $1005924.44   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercury Systems Inc            | Mercury Systems Inc                     | CUSIP: 589378108<br>LEI: 549300P3B84SGK7HH679 | Long             | EC               | CORP              | US        |     12572 | NS      | $878657.08    | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Penn Entertainment Inc         | Penn Entertainment Inc                  | CUSIP: 707569109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    102966 | NS      | $1528015.44   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| RealReal Inc/The               | RealReal Inc/The                        | CUSIP: 88339P101<br>LEI: 549300O00VUGT4H1PE90 | Long             | EC               | CORP              | US        |     80461 | NS      | $1165075.28   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-26

**Name of Applicant:** RBB Fund Trust

**Signature:** /s/ James G. Shaw

**Name of Signer:** RBB Fund Trust

**Title:** CFO COO Secretary