# EDGAR Filing Document

**Accession Number:** 0001272950
**File Stem:** 0001752724-25-202246
**Filing Date:** 2025-8
**Character Count:** 155951
**Document Hash:** f081ba964c05687f16249f23f179936e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-202246.hdr.sgml**: 20250825

**ACCESSION NUMBER**: 0001752724-25-202246

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250825

**DATE AS OF CHANGE**: 20250825

**PERIOD START**: 20250930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** RBC FUNDS TRUST
- **CENTRAL INDEX KEY:** 0001272950

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21475
- **FILM NUMBER:** 251250336

**BUSINESS ADDRESS:**
- **STREET 1:** 250 NICOLLET MALL
- **STREET 2:** SUITE 1550
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55401
- **BUSINESS PHONE:** 612-380-1198

**MAIL ADDRESS:**
- **STREET 1:** 250 NICOLLET MALL
- **STREET 2:** SUITE 1550
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55401

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TAMARACK FUNDS TRUST
- **DATE OF NAME CHANGE:** 20031212

## Series and Classes Contracts Data

### RBC BlueBay Emerging Market Debt Fund (Series ID: S000033479)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000102917 | Class A      | RESAX           |
| C000102918 | Class I      | RBESX           |
| C000176573 | Class R6     | RBERX           |

## Nport-Ex

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Emerging Market Debt Fund

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| **Foreign Government Bonds — 72.1%** | **Foreign Government Bonds — 72.1%** |  |
| **Angola — 1.1%** | **Angola — 1.1%** |  |
| $1240000 | Angolan Government International Bond, 8.25%, 5/9/28(a) | $1170903 |
| &nbsp;&nbsp;&nbsp;&nbsp;296000 | Angolan Government International Bond, 8.75%, 4/14/32(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262127 |
|  |  | &nbsp;&nbsp;&nbsp;1433030 |
| **Argentina — 3.7%** | **Argentina — 3.7%** |  |
| &nbsp;&nbsp;3268816 | Argentine Republic Government International Bond, 3.50%, 7/9/41 | &nbsp;&nbsp;&nbsp;2030685 |
| &nbsp;&nbsp;2527095 | Argentine Republic Government International Bond, 4.13%, 7/9/35 | &nbsp;&nbsp;&nbsp;1696009 |
| &nbsp;&nbsp;&nbsp;&nbsp;672744 | Provincia de Buenos Aires/Government Bonds, EMTN, 6.63%, 9/1/37(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483013 |
| &nbsp;&nbsp;&nbsp;&nbsp;384000 | Provincia de Cordoba, 9.75%, 7/2/32(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;384909 |
|  |  | &nbsp;&nbsp;&nbsp;4594616 |
| **Armenia — 0.9%** | **Armenia — 0.9%** |  |
| &nbsp;&nbsp;1130000 | Republic of Armenia International Bond, 6.75%, 3/12/35(a) | &nbsp;&nbsp;&nbsp;1099197 |
| **Benin — 0.5%** | **Benin — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;620000 | Benin Government International Bond, 8.38%, 1/23/41(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;596891 |
| **Brazil — 1.3%** | **Brazil — 1.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;770000 | Brazilian Government International Bond, 6.25%, 3/18/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;797301 |
| &nbsp;&nbsp;&nbsp;&nbsp;890000 | Brazilian Government International Bond, 7.13%, 5/13/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;851758 |
|  |  | &nbsp;&nbsp;&nbsp;1649059 |
| **Bulgaria — 0.5%** | **Bulgaria — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;590000 | Bulgaria Government International Bond, 5.00%, 3/5/37(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;577907 |
| **Chile — 1.9%** | **Chile — 1.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;400000 | Chile Government International Bond, 3.10%, 1/22/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242261 |
| &nbsp;&nbsp;605,000(c) | Chile Government International Bond, 3.80%, 7/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;709974 |
| &nbsp;&nbsp;&nbsp;&nbsp;700000 | Chile Government International Bond, 4.00%, 1/31/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540154 |
| &nbsp;&nbsp;&nbsp;&nbsp;925000 | Chile Government International Bond, 5.33%, 1/5/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;868734 |
|  |  | &nbsp;&nbsp;&nbsp;2361123 |
| **Colombia — 6.4%** | **Colombia — 6.4%** |  |
| &nbsp;&nbsp;1910000 | Colombia Government International Bond, 3.25%, 4/22/32 | &nbsp;&nbsp;&nbsp;1512404 |
| &nbsp;&nbsp;1320000 | Colombia Government International Bond, 3.88%, 2/15/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;695794 |
| &nbsp;&nbsp;&nbsp;&nbsp;410000 | Colombia Government International Bond, 4.13%, 5/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233503 |
| &nbsp;&nbsp;1191000 | Colombia Government International Bond, 7.38%, 4/25/30 | &nbsp;&nbsp;&nbsp;1232655 |
| &nbsp;&nbsp;1995000 | Colombia Government International Bond, 7.75%, 11/7/36 | &nbsp;&nbsp;&nbsp;1950406 |
| &nbsp;&nbsp;1310000 | Colombia Government International Bond, 8.00%, 11/14/35 | &nbsp;&nbsp;&nbsp;1316910 |
| &nbsp;&nbsp;1006000 | Colombia Government International Bond, 8.50%, 4/25/35 | &nbsp;&nbsp;&nbsp;1046540 |
|  |  | &nbsp;&nbsp;&nbsp;7988212 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Emerging Market Debt Fund (cont.)

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| **Costa Rica — 0.9%** | **Costa Rica — 0.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$200000 | Costa Rica Government International Bond, 6.55%, 4/3/34(b) | &nbsp;&nbsp;&nbsp;$208548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | Costa Rica Government International Bond, 6.55%, 4/3/34(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650000 | Costa Rica Government International Bond, 7.30%, 11/13/54(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;673067 |
|  |  | &nbsp;&nbsp;&nbsp;1090163 |
| **Dominican Republic — 3.5%** | **Dominican Republic — 3.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;967000 | Dominican Republic International Bond, 5.95%, 1/25/27(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;976585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | Dominican Republic International Bond, 6.00%, 7/19/28(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480000 | Dominican Republic International Bond, Series REGs, 6.60%, 6/1/36(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483795 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;765000 | Dominican Republic International Bond, 6.95%, 3/15/37(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;779476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;585000 | Dominican Republic International Bond, 7.05%, 2/3/31(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;613670 |
| &nbsp;&nbsp;&nbsp;&nbsp;8,350,000(d) | Dominican Republic International Bond, 11.25%, 9/15/35(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148628 |
| &nbsp;&nbsp;55,000,000(d) | Dominican Republic International Bond, 11.25%, 9/15/35(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;978988 |
|  |  | &nbsp;&nbsp;&nbsp;4336262 |
| **Ecuador — 1.8%** | **Ecuador — 1.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Ecuador Government International Bond, 0.00%, 7/31/30(a),(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;361679 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2614840 | Ecuador Government International Bond, 5.50%, 7/31/35(a) | &nbsp;&nbsp;&nbsp;1900365 |
|  |  | &nbsp;&nbsp;&nbsp;2262044 |
| **Egypt — 2.4%** | **Egypt — 2.4%** |  |
| &nbsp;&nbsp;&nbsp;66,625,000(f) | Egypt Government International Bond, 0.00%, 8/26/25(b),(e) | &nbsp;&nbsp;&nbsp;1284459 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | Egypt Government International Bond, EMTN, 7.30%, 9/30/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177447 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1210000 | Egypt Government International Bond, 7.90%, 2/21/48(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;929246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;595000 | Egypt Government International Bond, EMTN, 8.63%, 2/4/30(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;602650 |
|  |  | &nbsp;&nbsp;&nbsp;2993802 |
| **El Salvador — 1.1%** | **El Salvador — 1.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;824000 | El Salvador Government International Bond, Series RegS, 0.25%, 4/17/30(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510000 | El Salvador Government International Bond, 9.25%, 4/17/30(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540614 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;790000 | El Salvador Government International Bond, 9.65%, 11/21/54(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;818300 |
|  |  | &nbsp;&nbsp;&nbsp;1375119 |
| **Ghana — 0.8%** | **Ghana — 0.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | Ghana Government International Bond, 0.00%, 7/3/26(a),(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72567 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Ghana Government International Bond, 5.00%, 7/3/29(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;466519 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;633000 | Ghana Government International Bond, 5.00%, 7/3/35(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;489906 |
|  |  | &nbsp;&nbsp;&nbsp;1028992 |
| **Guatemala — 1.7%** | **Guatemala — 1.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390000 | Guatemala Government Bond, 3.70%, 10/7/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;665000 | Guatemala Government Bond, 6.05%, 8/6/31(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675991 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;680000 | Guatemala Government Bond, 6.55%, 2/6/37(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;686372 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475000 | Guatemala Government Bond, 6.60%, 6/13/36(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;482866 |
|  |  | &nbsp;&nbsp;&nbsp;2175248 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Emerging Market Debt Fund (cont.)

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| **India — 0.7%** | **India — 0.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$905000 | Export-Import Bank of India, 5.50%, 1/13/35(a) | &nbsp;&nbsp;&nbsp;$927880 |
| **Indonesia — 0.6%** | **Indonesia — 0.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1235000 | Indonesia Government International Bond, 3.35%, 3/12/71 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;772898 |
| **Iraq — 0.1%** | **Iraq — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161250 | Iraq International Bond, 5.80%, 1/15/28(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158917 |
| **Ivory Coast — 0.5%** | **Ivory Coast — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | Ivory Coast Government International Bond, 7.63%, 1/30/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220000 | Ivory Coast Government International Bond, 7.63%, 1/30/33(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216856 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210000 | Ivory Coast Government International Bond, 8.25%, 1/30/37(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202099 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;616096 |
| **Kazakhstan — 1.8%** | **Kazakhstan — 1.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | Development Bank of Kazakhstan JSC, 5.25%, 10/23/29(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;601045 |
| &nbsp;&nbsp;102,500,000(g) | Development Bank of Kazakhstan JSC, 13.00%, 4/15/27(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183103 |
| &nbsp;&nbsp;175,000,000(g) | Development Bank of Kazakhstan JSC, 13.49%, 5/23/28(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303945 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220000 | Kazakhstan Government International Bond, 5.50%, 7/1/37(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220916 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1005000 | Kazakhstan Government International Bond, 5.50%, 7/1/37(b) | &nbsp;&nbsp;&nbsp;1009186 |
|  |  | &nbsp;&nbsp;&nbsp;2318195 |
| **Kenya — 0.7%** | **Kenya — 0.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675000 | Republic of Kenya Government International Bond, 9.50%, 3/5/36(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;635206 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260000 | Republic of Kenya Government International Bond, 9.75%, 2/16/31(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263643 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;898849 |
| **Lebanon — 1.4%** | **Lebanon — 1.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36000 | Lebanon Government International Bond, GMTN, 5.80%, 4/14/20(a),(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6759 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;716000 | Lebanon Government International Bond, 6.00%, 1/27/23(a),(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2621000 | Lebanon Government International Bond, EMTN, 6.10%, 10/4/22(a),(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;492700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;811000 | Lebanon Government International Bond, EMTN, 6.15%, 6/19/20(a),(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152223 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550000 | Lebanon Government International Bond, EMTN, 6.25%, 11/4/24(a),(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103507 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2230000 | Lebanon Government International Bond, GMTN, 6.38%, 3/9/20(a),(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;418539 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269000 | Lebanon Government International Bond, Series 15Y, 6.75%, 11/29/27(a),(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50576 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2251000 | Lebanon Government International Bond, EMTN, 8.25%, 4/12/21(a),(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;422985 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000 | Lebanon Government International Bond, 8.25%, 5/17/34(a),(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;941 |
|  |  | &nbsp;&nbsp;&nbsp;1782780 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Emerging Market Debt Fund (cont.)

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| **Macedonia — 0.5%** | **Macedonia — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;480,000(c) | North Macedonia Government International Bond, 6.96%, 3/13/27(a) | &nbsp;&nbsp;&nbsp;$591705 |
| **Mexico — 1.5%** | **Mexico — 1.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$835000 | Mexico Government International Bond, 6.00%, 5/13/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;866145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;975000 | Mexico Government International Bond, 6.88%, 5/13/37 | &nbsp;&nbsp;&nbsp;1018065 |
|  |  | &nbsp;&nbsp;&nbsp;1884210 |
| **Montenegro — 0.5%** | **Montenegro — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570000 | Montenegro Government International Bond, 7.25%, 3/12/31(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590370 |
| **Morocco — 2.0%** | **Morocco — 2.0%** |  |
| &nbsp;&nbsp;1,860,000(c) | Morocco Government International Bond, 4.75%, 4/2/35(b) | &nbsp;&nbsp;&nbsp;2193925 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340000 | Morocco Government International Bond, 5.95%, 3/8/28(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348263 |
|  |  | &nbsp;&nbsp;&nbsp;2542188 |
| **Nigeria — 3.1%** | **Nigeria — 3.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850000 | Nigeria Government International Bond, EMTN, 6.13%, 9/28/28(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;806711 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | Nigeria Government International Bond, EMTN, 7.38%, 9/28/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;357129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;644000 | Nigeria Government International Bond, 7.88%, 2/16/32(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;609169 |
| &nbsp;&nbsp;&nbsp;&nbsp;1135000 | Nigeria Government International Bond, 9.63%, 6/9/31(a) | &nbsp;&nbsp;&nbsp;1188082 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;860000 | Nigeria Government International Bond, 10.38%, 12/9/34(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;904983 |
|  |  | &nbsp;&nbsp;&nbsp;3866074 |
| **Oman — 1.2%** | **Oman — 1.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1465000 | Oman Government International Bond, 6.75%, 1/17/48(a) | &nbsp;&nbsp;&nbsp;1510177 |
| **Pakistan — 2.0%** | **Pakistan — 2.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;830000 | Pakistan Government International Bond, EMTN, 6.00%, 4/8/26(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;815489 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610000 | Pakistan Government International Bond, EMTN, 7.38%, 4/8/31(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;542886 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145000 | Pakistan Government International Bond, 7.88%, 3/31/36(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118411 |
| &nbsp;&nbsp;&nbsp;&nbsp;1035000 | Pakistan Government International Bond, 8.25%, 9/30/25(a) | &nbsp;&nbsp;&nbsp;1031237 |
|  |  | &nbsp;&nbsp;&nbsp;2508023 |
| **Panama — 1.4%** | **Panama — 1.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1735000 | Panama Government International Bond, 3.87%, 7/23/60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;984612 |
| &nbsp;&nbsp;&nbsp;&nbsp;1255000 | Panama Government International Bond, 4.50%, 4/1/56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;815230 |
|  |  | &nbsp;&nbsp;&nbsp;1799842 |
| **Paraguay — 2.0%** | **Paraguay — 2.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;860000 | Paraguay Government International Bond, 5.40%, 3/30/50(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;738160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230000 | Paraguay Government International Bond, 5.85%, 8/21/33(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235388 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Emerging Market Debt Fund (cont.)

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$425000 | Paraguay Government International Bond, 5.85%, 8/21/33(a) | &nbsp;&nbsp;&nbsp;$434955 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230000 | Paraguay Government International Bond, 6.00%, 2/9/36(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233714 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290000 | Paraguay Government International Bond, 6.65%, 3/4/55(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;291440 |
| &nbsp;&nbsp;4,379,000,000(i) | Paraguay Government International Bond, 7.90%, 2/9/31(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;529721 |
|  |  | &nbsp;&nbsp;&nbsp;2463378 |
| **Peru — 0.4%** | **Peru — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;585000 | Peruvian Government International Bond, 5.88%, 8/8/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565123 |
| **Philippines — 2.4%** | **Philippines — 2.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650,000(c) | Philippine Government International Bond, 1.20%, 4/28/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;644314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;835000 | Philippine Government International Bond, 2.95%, 5/5/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;569468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710000 | Philippine Government International Bond, 5.60%, 5/14/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;698391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520000 | Philippine Government International Bond, 5.61%, 4/13/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;544907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550000 | ROP Sukuk Trust, 5.05%, 6/6/29(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;561736 |
|  |  | &nbsp;&nbsp;&nbsp;3018816 |
| **Poland — 0.9%** | **Poland — 0.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | Bank Gospodarstwa Krajowego, EMTN, 5.38%, 5/22/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;603737 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450000 | Republic of Poland Government International Bond, 5.75%, 11/16/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475013 |
|  |  | &nbsp;&nbsp;&nbsp;1078750 |
| **Qatar — 0.5%** | **Qatar — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540000 | Qatar Government International Bond, 4.82%, 3/14/49(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;484324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | Qatar Government International Bond, 5.10%, 4/23/48(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188539 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;672863 |
| **Romania — 2.9%** | **Romania — 2.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;622,000(c) | Romanian Government International Bond, EMTN, 3.38%, 1/28/50(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;439926 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440,000(c) | Romanian Government International Bond, Series REGs, 5.13%, 9/24/31(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510570 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1384000 | Romanian Government International Bond, 5.75%, 3/24/35(a) | &nbsp;&nbsp;&nbsp;1279521 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | Romanian Government International Bond, 5.88%, 1/30/29(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200983 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | Romanian Government International Bond, 5.88%, 1/30/29(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;351720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130000 | Romanian Government International Bond, 6.38%, 1/30/34(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127252 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340000 | Romanian Government International Bond, 6.38%, 1/30/34(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;332813 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | Romanian Government International Bond, 7.50%, 2/10/37(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;363561 |
|  |  | &nbsp;&nbsp;&nbsp;3606346 |
| **Serbia — 1.7%** | **Serbia — 1.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1080000 | Serbia International Bond, 6.00%, 6/12/34(a) | &nbsp;&nbsp;&nbsp;1091408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | Serbia International Bond, 6.25%, 5/26/28(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;412992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | Serbia International Bond, 6.50%, 9/26/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;631413 |
|  |  | &nbsp;&nbsp;&nbsp;2135813 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Emerging Market Debt Fund (cont.)

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| **South Africa — 3.2%** | **South Africa — 3.2%** |  |
| &nbsp;&nbsp;&nbsp;$775000 | Republic of South Africa Government International Bond, 4.85%, 9/30/29 | &nbsp;&nbsp;&nbsp;$746433 |
| &nbsp;&nbsp;&nbsp;&nbsp;915000 | Republic of South Africa Government International Bond, 5.00%, 10/12/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;639017 |
| &nbsp;&nbsp;1200000 | Republic of South Africa Government International Bond, 5.38%, 7/24/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;912794 |
| &nbsp;&nbsp;1290000 | Republic of South Africa Government International Bond, 7.10%, 11/19/36(a) | &nbsp;&nbsp;&nbsp;1280095 |
| &nbsp;&nbsp;&nbsp;&nbsp;200000 | Republic of South Africa Government International Bond, 7.30%, 4/20/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180319 |
| &nbsp;&nbsp;&nbsp;&nbsp;200000 | Republic of South Africa Government International Bond, 7.95%, 11/19/54(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190689 |
|  |  | &nbsp;&nbsp;&nbsp;3949347 |
| **Sri Lanka — 1.1%** | **Sri Lanka — 1.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;265000 | Sri Lanka Government International Bond, 3.10%, 1/15/30(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235561 |
| &nbsp;&nbsp;&nbsp;&nbsp;350000 | Sri Lanka Government International Bond, 3.60%, 6/15/35(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238915 |
| &nbsp;&nbsp;&nbsp;&nbsp;240000 | Sri Lanka Government International Bond, 3.60%, 5/15/36(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193864 |
| &nbsp;&nbsp;&nbsp;&nbsp;490000 | Sri Lanka Government International Bond, 3.60%, 2/15/38(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395818 |
| &nbsp;&nbsp;&nbsp;&nbsp;284700 | Sri Lanka Government International Bond, 4.00%, 4/15/28(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;266846 |
|  |  | &nbsp;&nbsp;&nbsp;1331004 |
| **Tunisia — 0.6%** | **Tunisia — 0.6%** |  |
| &nbsp;&nbsp;690,000(c) | Banque Centrale de Tunisie International Bond, 6.38%, 7/15/26(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;802680 |
| **Turkey — 4.4%** | **Turkey — 4.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;200000 | Istanbul Metropolitan Municipality, 10.50%, 12/6/28(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215086 |
| &nbsp;&nbsp;&nbsp;&nbsp;280000 | Istanbul Metropolitan Municipality, 10.50%, 12/6/28(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301120 |
| &nbsp;&nbsp;2660000 | Turkey Government International Bond, 4.88%, 4/16/43 | &nbsp;&nbsp;&nbsp;1876001 |
| &nbsp;&nbsp;&nbsp;&nbsp;506000 | Turkiye Government International Bond, Series 7Y, 7.13%, 2/12/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;506910 |
| &nbsp;&nbsp;2040000 | Turkiye Government International Bond, 7.25%, 5/29/32 | &nbsp;&nbsp;&nbsp;2048969 |
| &nbsp;&nbsp;&nbsp;&nbsp;315000 | Turkiye Ihracat Kredi Bankasi AS, 6.88%, 7/3/28(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315404 |
| &nbsp;&nbsp;&nbsp;&nbsp;200000 | Turkiye Ihracat Kredi Bankasi AS, EMTN, 9.00%, 1/28/27(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208820 |
|  |  | &nbsp;&nbsp;&nbsp;5472310 |
| **United Arab Emirates — 0.4%** | **United Arab Emirates — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;799000 | Finance Department Government of Sharjah, GMTN, 4.00%, 7/28/50(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;508718 |
| **Uruguay — 1.7%** | **Uruguay — 1.7%** |  |
| &nbsp;&nbsp;1147599 | Uruguay Government International Bond, 4.98%, 4/20/55 | &nbsp;&nbsp;&nbsp;1016834 |
| &nbsp;&nbsp;1120000 | Uruguay Government International Bond, 5.44%, 2/14/37 | &nbsp;&nbsp;&nbsp;1148332 |
|  |  | &nbsp;&nbsp;&nbsp;2165166 |
| **Uzbekistan — 2.0%** | **Uzbekistan — 2.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;430000 | Republic of Uzbekistan International Bond, 3.90%, 10/19/31(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;378663 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Emerging Market Debt Fund (cont.)

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| &nbsp;&nbsp;&nbsp;$675000 | Republic of Uzbekistan International Bond, 6.90%, 2/28/32(a) | &nbsp;&nbsp;&nbsp;&nbsp;$693631 |
| &nbsp;&nbsp;&nbsp;&nbsp;200000 | Republic of Uzbekistan International Bond, EMTN, 7.85%, 10/12/28(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212907 |
| &nbsp;&nbsp;&nbsp;&nbsp;560000 | Republic of Uzbekistan International Bond, 7.85%, 10/12/28(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;596138 |
| &nbsp;&nbsp;&nbsp;&nbsp;650000 | Uzbekneftegaz JSC, 4.75%, 11/16/28(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;595220 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2476559 |
| **Venezuela — 0.8%** | **Venezuela — 0.8%** |  |
| &nbsp;&nbsp;3425000 | Venezuela Government International Bond, 7.75%, 10/13/19(a),(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;503254 |
| &nbsp;&nbsp;&nbsp;&nbsp;738800 | Venezuela Government International Bond, 8.25%, 10/13/24(a),(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118452 |
| &nbsp;&nbsp;1720000 | Venezuela Government International Bond, 11.75%, 10/21/26(a),(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340404 |
| &nbsp;&nbsp;&nbsp;&nbsp;125000 | Venezuela Government International Bond, 11.95%, 8/5/31(a),(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23001 |
| &nbsp;&nbsp;&nbsp;&nbsp;375000 | Venezuela Government International Bond, 12.75%, 8/23/22(a),(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67033 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1052144 |
| **Zambia — 0.6%** | **Zambia — 0.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;520000 | Zambia Government International Bond, 0.50%, 12/31/53(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;352606 |
| &nbsp;&nbsp;&nbsp;&nbsp;374742 | Zambia Government International Bond, 5.75%, 6/30/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343132 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;695738 |
| **Total Foreign Government Bonds** | **Total Foreign Government Bonds** | &nbsp;&nbsp;&nbsp;**90324624** |
| (Cost $87,232,724) | (Cost $87,232,724) |  |
| **Corporate Bonds — 23.8%** | **Corporate Bonds — 23.8%** |  |
| **Brazil — 0.3%** | **Brazil — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;336867 | MV24 Capital BV, 6.75%, 6/1/34(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;326540 |
| **Chile — 1.3%** | **Chile — 1.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;200000 | Corp. Nacional del Cobre de Chile, 5.13%, 2/2/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194025 |
| &nbsp;&nbsp;&nbsp;&nbsp;200000 | Corp. Nacional del Cobre de Chile, 5.95%, 1/8/34(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203562 |
| &nbsp;&nbsp;&nbsp;&nbsp;600000 | Corp. Nacional del Cobre de Chile, 5.95%, 1/8/34(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610687 |
| &nbsp;&nbsp;&nbsp;&nbsp;400000 | Corp. Nacional del Cobre de Chile, 6.30%, 9/8/53(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390251 |
| &nbsp;&nbsp;&nbsp;&nbsp;200000 | Empresa Nacional del Petroleo, 5.95%, 7/30/34(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201874 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1600399 |
| **Colombia — 1.4%** | **Colombia — 1.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;765000 | Ecopetrol SA, 4.63%, 11/2/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;644434 |
| &nbsp;&nbsp;&nbsp;&nbsp;530000 | Ecopetrol SA, 8.63%, 1/19/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;559759 |
| &nbsp;&nbsp;&nbsp;&nbsp;565000 | Ecopetrol SA, 8.88%, 1/13/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;582702 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1786895 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Emerging Market Debt Fund (cont.)

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| **Malaysia — 1.8%** | **Malaysia — 1.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;$1215000 | Petronas Capital Ltd., EMTN, 4.95%, 1/3/31(a) | $1238659 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1070000 | Petronas Capital Ltd., 5.85%, 4/3/55(a) | &nbsp;&nbsp;&nbsp;1084875 |
|  |  | &nbsp;&nbsp;&nbsp;2323534 |
| **Mexico — 6.7%** | **Mexico — 6.7%** |  |
| &nbsp;&nbsp;12,580,000(j) | America Movil SAB de CV, 9.50%, 1/27/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;670193 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;730000 | Comision Federal de Electricidad, 4.69%, 5/15/29(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;713319 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325000 | Comision Federal de Electricidad, 6.45%, 1/24/35(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320302 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367873 | FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple, 7.25%, 1/31/41(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;372921 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;990000 | Mexico City Airport Trust, 5.50%, 7/31/47(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;816823 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2761000 | Petroleos Mexicanos, 5.95%, 1/28/31 | &nbsp;&nbsp;&nbsp;2493029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1258000 | Petroleos Mexicanos, 6.50%, 1/23/29 | &nbsp;&nbsp;&nbsp;1231318 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1725000 | Petroleos Mexicanos, GMTN, 8.75%, 6/2/29 | &nbsp;&nbsp;&nbsp;1786450 |
|  |  | &nbsp;&nbsp;&nbsp;8404355 |
| **Oman — 1.5%** | **Oman — 1.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;515000 | EDO Sukuk Ltd., 5.66%, 7/3/31(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;523886 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | EDO Sukuk Ltd., 5.88%, 9/21/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;511411 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;890000 | OQ SAOC, GMTN, 5.13%, 5/6/28(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;889628 |
|  |  | &nbsp;&nbsp;&nbsp;1924925 |
| **Panama — 0.5%** | **Panama — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;682108 | AES Panama Generation Holdings Srl, 4.38%, 5/31/30(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;624503 |
| **Paraguay — 0.3%** | **Paraguay — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590333 | Rutas 2 & 7 Finance Ltd., 0.00%, 9/30/36(a),(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;426918 |
| **Peru — 1.8%** | **Peru — 1.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500,000(k) | Credicorp Capital Sociedad Titulizadora SA, 9.70%, 3/5/45(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145969 |
| &nbsp;&nbsp;&nbsp;1,190,000(k) | Credicorp Capital Sociedad Titulizadora SA, 10.10%, 12/15/43(a),(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355303 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1065000 | InRetail Consumer, 3.25%, 3/22/28(a) | &nbsp;&nbsp;&nbsp;1010252 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;715000 | Niagara Energy SAC, 5.75%, 10/3/34(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;707043 |
|  |  | &nbsp;&nbsp;&nbsp;2218567 |
| **Poland — 0.3%** | **Poland — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440000 | ORLEN SA, 6.00%, 1/30/35(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450845 |
| **Qatar — 0.6%** | **Qatar — 0.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | Qatar Energy, 3.13%, 7/12/41(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;294203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;620000 | QatarEnergy, 3.30%, 7/12/51(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;417681 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;711884 |
| **Saudi Arabia — 2.3%** | **Saudi Arabia — 2.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875000 | Greensaif Pipelines Bidco Sarl, EMTN, 5.85%, 2/23/36(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;883455 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1105000 | Greensaif Pipelines Bidco Sarl, 6.10%, 8/23/42(a) | &nbsp;&nbsp;&nbsp;1104065 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Emerging Market Debt Fund (cont.)

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| &nbsp;&nbsp;&nbsp;$440000 | Greensaif Pipelines Bidco Sarl, 6.13%, 2/23/38(a) | &nbsp;&nbsp;&nbsp;&nbsp;$452999 |
| &nbsp;&nbsp;&nbsp;&nbsp;400000 | Greensaif Pipelines Bidco Sarl, 6.51%, 2/23/42(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;413388 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2853907 |
| **Trinidad & Tobago — 0.2%** | **Trinidad & Tobago — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;205000 | Trinidad Generation UnLtd, 7.75%, 6/16/33(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211059 |
| **Turkey — 0.5%** | **Turkey — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;410000 | TC Ziraat Bankasi AS, EMTN, 8.00%, 1/16/29(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;422147 |
| &nbsp;&nbsp;&nbsp;&nbsp;200000 | Ziraat Katilim Varlik Kiralama AS, 9.38%, 11/12/26(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209336 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;631483 |
| **United Arab Emirates — 3.9%** | **United Arab Emirates — 3.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;930000 | Abu Dhabi Developmental Holding Co. PJSC, 5.25%, 10/2/54(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;858863 |
| &nbsp;&nbsp;&nbsp;&nbsp;917000 | Adnoc Murban Rsc Ltd., 5.13%, 9/11/54(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;832737 |
| &nbsp;&nbsp;&nbsp;&nbsp;400000 | DP World Crescent Ltd., 5.50%, 9/13/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;407186 |
| &nbsp;&nbsp;1030000 | DP World Salaam, 6.00%, (a),(l),(m) | &nbsp;&nbsp;&nbsp;&nbsp;1028430 |
| &nbsp;&nbsp;&nbsp;&nbsp;374472 | Galaxy Pipeline Assets Bidco Ltd., 2.16%, 3/31/34(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;331829 |
| &nbsp;&nbsp;1246252 | Galaxy Pipeline Assets Bidco Ltd., 2.94%, 9/30/40(a) | &nbsp;&nbsp;&nbsp;&nbsp;1021126 |
| &nbsp;&nbsp;&nbsp;&nbsp;200000 | MDGH GMTN RSC Ltd., EMTN, 4.38%, 11/22/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191673 |
| &nbsp;&nbsp;&nbsp;&nbsp;200000 | MDGH GMTN RSC Ltd., 5.50%, 4/28/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208113 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;4879957 |
| **Uzbekistan — 0.2%** | **Uzbekistan — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;250000 | Navoi Mining & Metallurgical Combinat, 6.70%, 10/17/28(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255639 |
| **Venezuela — 0.2%** | **Venezuela — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;173584 | Petroleos de Venezuela SA, 6.00%, 11/15/26(a),(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21870 |
| &nbsp;&nbsp;&nbsp;&nbsp;260000 | Petroleos de Venezuela SA, 8.50%, 10/27/20(a),(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239926 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261796 |
| **Total Corporate Bonds** | **Total Corporate Bonds** | &nbsp;&nbsp;&nbsp;**29893206** |
| (Cost $29,589,491) | (Cost $29,589,491) |  |

---

---

| | | |
|:---|:---|:---|
| **Contracts** |  |  |
| **Put Option Purchased — 0.00%** | **Put Option Purchased — 0.00%** |  |
| 111 | S&P 500 Index, Strike Price USD 5000.0000, Expires 07/18/25, Notional Amount EUR 5,550,000 | 13075 |
| &nbsp;&nbsp;&nbsp;&nbsp;4 | S&P 500 Index, Strike Price USD 5900.0000, Expires 07/18/25, Notional Amount $2,360,000 | &nbsp;&nbsp;&nbsp;4160 |
| **Total Put Option Purchased** | **Total Put Option Purchased** | **17235** |
| (Cost $72,116) | (Cost $72,116) |  |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Emerging Market Debt Fund (cont.)

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| **Municipal Bond — 0.2%** | **Municipal Bond — 0.2%** |  |
| **Turkey — 0.2%** | **Turkey — 0.2%** |  |
| $200000 | Istanbul Metropolitan Municipality, 10.75%, 4/12/27(a) | $211326 |
| **Total Municipal Bond** | **Total Municipal Bond** | &nbsp;&nbsp;&nbsp;**211326** |
| (Cost $197,427) |  |  |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  |  |
| **Investment Company — 2.6%** | **Investment Company — 2.6%** |  |
| 3215663 | RBC BlueBay U.S. Government Money Market Fund,<br> Institutional Class 1 (n) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3215663 |
| **Total Investment Company** | **Total Investment Company** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3215663** |
| (Cost $3,215,663) | (Cost $3,215,663) |  |
| **Total Investments** | **Total Investments** | **$123662054** |
| (Cost $120,307,421) — 98.7% | (Cost $120,307,421) — 98.7% |  |
| **Other assets in excess of liabilities — 1.3%** | **Other assets in excess of liabilities — 1.3%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1664225** |
| **NET ASSETS — 100.0%** | **NET ASSETS — 100.0%** | **$125326279** |

---

------

(a) This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933.

(b) Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration, normally to
qualified institutional buyers.

(c) Principal amount denoted in Euros.

(d) Principal amount denoted in Dominican Peso.

(e) Zero Coupon Bond. The rate represents the yield at time of purchase.

(f) Principal amount denoted in Egyptian Pound.

(g) Principal amount denoted in Kazakhstani tenge.

(h) Issuer filed for bankruptcy and/or is in default of interest payments.

(i) Principal amount denoted in Paraguayan Guarani.

(j) Principal amount denoted in Mexican peso.

(k) Principal amount denoted in Peruvian sol.

(l) Security is a fix-to-float security, which carries a fixed coupon until a certain date, upon which it switches to a floating rate. Reference rate and spread are provided if the rate is currently
floating.

(m) Perpetual security with no stated maturity date.

(n) Affiliated investment.

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Emerging Market Debt Fund (cont.)

------

June 30, 2025 (Unaudited)

#### Foreign currency exchange contracts as of June 30, 2025:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Counterparty** | **Settlement<br> Date** | **Value/Unrealized<br> Appreciation<br> (Depreciation)** |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18084 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3136 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;8/4/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$164 |
| CNH | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4443256 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625344 | Citibank N.A. | 10/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;692 |
| CNH | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;888751 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125069 | Citibank N.A. | 10/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153 |
| CNH | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1028463 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144642 | Citibank N.A. | 10/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264 |
| CNH | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2522099 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354945 | Citibank N.A. | 10/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;408 |
| COP | 2558700000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25548 |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59721 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5107 |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5163783 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6051773 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34752 |
| KRW | 1751856150 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1202801 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95045 |
| MXN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;597550 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28961 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2852 |
| MXN | &nbsp;&nbsp;&nbsp;&nbsp;11594128 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;612961 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4300 |
| THB | &nbsp;&nbsp;&nbsp;&nbsp;15334985 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;468112 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3936 |
| THB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9265513 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;284058 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1157 |
| THB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3087082 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93696 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1332 |
| THB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4995268 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152929 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;838 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;508657 | &nbsp;&nbsp;KZT | &nbsp;&nbsp;&nbsp;272792512 | Citibank N.A. | 10/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 |
|  |  |  |  |  |  | &nbsp;&nbsp;$176758 |
| COP | &nbsp;&nbsp;&nbsp;&nbsp;33263730 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8154 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(22) |
| KZT | &nbsp;&nbsp;&nbsp;272792512 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;523795 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(126) |
| THB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8528400 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262736 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(211) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615668 | &nbsp;&nbsp;COP | 2591963730 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;(18012) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5555889 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5118783 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;(477595) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114288 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3582) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1209361 | KRW | 1751856150 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;(88486) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510000 | &nbsp;&nbsp;KZT | &nbsp;&nbsp;&nbsp;272792512 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;(13670) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450261 | MXN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9143759 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;(36545) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150761 | MXN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3047920 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;(11507) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354718 | &nbsp;&nbsp;PEN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1306922 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;(14126) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137338 | &nbsp;&nbsp;PEN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500140 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3813) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1207956 | &nbsp;&nbsp;THB | &nbsp;&nbsp;&nbsp;&nbsp;41211247 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;(60624) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;522388 | &nbsp;&nbsp;DOP | &nbsp;&nbsp;&nbsp;&nbsp;32179105 | Citibank N.A. | &nbsp;&nbsp;7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;(16452) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;577612 | &nbsp;&nbsp;DOP | &nbsp;&nbsp;&nbsp;&nbsp;35268985 | Citibank N.A. | &nbsp;&nbsp;7/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;(11748) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6091209 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5163783 | Citibank N.A. | 10/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;(34332) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;606417 | MXN | &nbsp;&nbsp;&nbsp;&nbsp;11594128 | Citibank N.A. | 10/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4344) |
|  |  |  |  |  |  | $(795195) |
| **Total** |  |  |  |  |  | $(618437) |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Emerging Market Debt Fund (cont.)

------

June 30, 2025 (Unaudited)

#### Options written as of June 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Contracts** | **Put Options** | **Notional Amount** | **Notional Amount** | **Value** |
| 111 | S&P 500 Index, Strike Price USD 4800.0000, Expires 07/18/25, Notional Amount<br> $(5328000) | EUR | (5328000) | $(5492) |
| **Total (Premiums received $(34653))** | **Total (Premiums received $(34653))** |  |  | $(5492) |

---

#### Financial futures contracts as of June 30, 2025:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Long Position** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value/Unrealized<br> Appreciation** | &nbsp;&nbsp;**Notional<br> Value** | &nbsp;&nbsp;**Notional<br> Value** | &nbsp;&nbsp;**Clearinghouse** |
| 2 Year U.S. Treasury Note | &nbsp;&nbsp;28 | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;$15317 | &nbsp;&nbsp;USD | &nbsp;&nbsp;$5824656 | &nbsp;&nbsp;Morgan Stanley & Co. LLC |
| 5 Year U.S. Treasury Note | &nbsp;&nbsp;28 | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;37581 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;3052000 | &nbsp;&nbsp;Morgan Stanley & Co. LLC |
| **Total** |  |  | &nbsp;&nbsp;$52898 |  |  |  |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Short Position** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value/Unrealized<br> Appreciation** | &nbsp;&nbsp;**Notional<br> Value** | &nbsp;&nbsp;**Notional<br> Value** | &nbsp;&nbsp;**Clearinghouse** |
| 10 Year Euro-Bund | &nbsp;&nbsp;21 | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;$23723 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;$3219514 | &nbsp;&nbsp;Morgan Stanley & Co. LLC |
| **Total** |  |  | &nbsp;&nbsp;$23723 |  |  |  |

---

#### Credit default swaps buy protection as of June 30, 2025:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fixed<br> Rate** | **Issuer** | **Payment<br> Frequency** | **Counter-<br> party** | **Expiration<br> Date** | **Notional<br> Amount<br> (000)** | **Notional<br> Amount<br> (000)** | **Premium<br> Paid/<br> (Received)** | **Unrealized<br> Depreciation** | **Value** |
| 1.00% | Egypt Government International Bond | Quarterly | Citigroup Global Markets Ltd | 12/20/25 | USD | &nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;$11901 | $(10184) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1717 |
| 1.00% | Qatar Government International Bond | Quarterly | Citigroup Global Markets Ltd | &nbsp;&nbsp;6/20/30 | USD | 4880 | &nbsp;&nbsp;(138430) | &nbsp;&nbsp;&nbsp;&nbsp;(8628) | &nbsp;&nbsp;(147058) |
| 1.00% | Saudi Government International Bond | Quarterly | Barclays Bank plc | &nbsp;&nbsp;6/20/30 | USD | &nbsp;&nbsp;&nbsp;520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6826) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(791) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7617) |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Emerging Market Debt Fund (cont.)

------

June 30, 2025 (Unaudited)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fixed<br> Rate** | **Issuer** | **Payment<br> Frequency** | **Counter-<br> party** | **Expiration<br> Date** | **Notional<br> Amount<br> (000)** | **Notional<br> Amount<br> (000)** | **Premium<br> Paid/<br> (Received)** | **Unrealized<br> Depreciation** | **Value** |
| 1.00% | Saudi Government International Bond | Quarterly | Morgan Stanley & Co. International plc | &nbsp;&nbsp;6/20/30 | USD | 6630 | &nbsp;&nbsp;$(76784) | $(20334) | &nbsp;&nbsp;$(97118) |
| 1.00% | Saudi Government International Bond | Quarterly | Barclays Bank plc | &nbsp;&nbsp;6/20/30 | USD | 2710 | &nbsp;&nbsp;&nbsp;&nbsp;(32760) | &nbsp;&nbsp;&nbsp;&nbsp;(6937) | &nbsp;&nbsp;&nbsp;&nbsp;(39697) |
| **Total** |  |  |  |  |  |  | $(242899) | $(46874) | $(289773) |

---

#### Credit default swaps sell protection as of June 30, 2025:

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fixed<br> Rate** | **Issuer** | **Payment<br> Frequency** | **Counter-<br> party** | **Expiration<br> Date** | **ICS%** | **Notional<br> Amount<br> (000)** | **Notional<br> Amount<br> (000)** | **Premium<br> Paid/<br> (Received)** | **Unreal.<br> App.** | **Value** |
| 1.00% | Nigeria Government International Bond\* | Quarterly | Barclays Bank plc | 6/20/30 | 4.98 | USD | 378 | &nbsp;&nbsp;$(83402) | $22861 | &nbsp;&nbsp;$(60541) |
| 1.00% | Egypt Government International Bond\* | Quarterly | Morgan Stanley & Co. International plc | 6/20/29 | 4.64 | USD | 820 | &nbsp;&nbsp;(133926) | &nbsp;&nbsp;33291 | &nbsp;&nbsp;(100635) |
| **Total** |  |  |  |  |  |  |  | $(217328) | $56152 | $(161176) |

---

\* Credit Rating of the issuer or the underlying security is B, provided by Fitch Ratings.

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Emerging Market Debt Fund (cont.)

------

June 30, 2025 (Unaudited)

---

| |
|:---|
| Abbreviations used are defined below: |
| BRL - Brazilian Real |
| CNH - Chinese Yuan Renminbi |
| COP - Colombian Peso |
| DOP - Dominican peso |
| EMTN - Euro Medium Term Note |
| EUR - Euro |
| GMTN - Global Medium Term Note |
| ICS - Implied Credit Spread |
| KRW - South Korean Won |
| KZT - Kazakhstani Tenge |
| MXN - Mexican Peso |
| PEN - Peruvian Nuevo Sol |
| THB - Thai Baht |
| USD - United States Dollar |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** RBC Funds Trust

- **b. Investment Company Act file number:** 811-21475

- **c. CIK number of Registrant:** 0001272950

- **d. LEI of Registrant:** 549300456VUEP58RCU35

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

  - **Street Address 1:** 250 Nicollet Mall

  - **City:** Minneapolis

  - **State:** MN

  - **Foreign country:** US

  - **Zip / Postal Code:** 55401

  - **Telephone number:** 612-376-7000

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

- **a. Name of Series:** RBC BlueBay Emerging Market Debt Fund

- **b. EDGAR series identifier (if any):** S000033479

- **c. LEI of Series:** 5493007OQRSXC5HIC148

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

- **a. Date of fiscal year-end:** 2025-09-30

- **b. Date as of which information is reported:** 2025-06-30

**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:** $130060429.87

**Total Liabilities:** $4670338.84

**Net Assets:** $125390091.03

**Cash Not Reported:** $2486713.94

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 0.00270000 | **5-Year:** -0.35740000 | **10-Year:** 0.79080000 | **30-Year:** 1.05640000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.00360000 | **1-Year:** 0.02490000 | **5-Year:** 0.30840000 | **10-Year:** 1.23240000 | **30-Year:** 0.41160000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000102917 | -0.26%               | 1.10%                | 2.40%                |
| Class ID C000176573 | -0.23%               | 1.09%                | 2.59%                |
| Class ID C000102918 | -0.24%               | 1.10%                | 2.49%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $10614.81                | $-935200.31                                |
| Month 2  | $-363939.64              | $1393614.23                                |
| Month 3  | $154133.45               | $2611161.30                                |

**Designated Index Information**

- **Index Name:** JPM EMBI Global Diversified Index

- **Index Identifier:** JPGCCOMP

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| REPUBLIC OF PARAGUAY                        | Paraguay Government International Bond                           | CUSIP: 699149AP5<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        | 4379000000 | PA      | $529720.70    | 0.42%             | 2031-02-09      | Fixed         | 7.90%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF IRAQ                            | Iraq International Bond                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | IQ        |     161250 | PA      | $158916.65    | 0.13%             | 2028-01-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION              | USD/DOP FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-11748.24    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF GHANA                           | Ghana Government International Bond                              | CUSIP: 000000000<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |     500000 | PA      | $466519.04    | 0.37%             | 2029-07-03      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                          | Dominican Republic International Bond                            | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |     350000 | PA      | $355119.33    | 0.28%             | 2028-07-19      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ISLAMIC REP OF PAKISTAN                     | Pakistan Government International Bond                           | CUSIP: 000000000<br>LEI: 529900LOP29R5WKHOD86 | Long             | DBT              | NUSS              | PK        |     830000 | PA      | $815489.25    | 0.65%             | 2026-04-08      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BENIN INTL GOV BOND                         | Benin Government International Bond                              | CUSIP: 000000000<br>LEI: 635400Q11P6AE5A5Y230 | Long             | DBT              | NUSS              | BJ        |     620000 | PA      | $596890.74    | 0.48%             | 2041-01-23      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| UNITED MEXICAN STATES                       | Mexico Government International Bond                             | CUSIP: 91087BBC3<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     975000 | PA      | $1018064.80   | 0.81%             | 2037-05-13      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| GREENSAIF PIPELINES BIDC                    | Greensaif Pipelines Bidco Sarl                                   | CUSIP: 000000000<br>LEI: 549300YWDGUXPB8GRP47 | Long             | DBT              | CORP              | LU        |    1105000 | PA      | $1104065.03   | 0.88%             | 2042-08-23      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF VENEZUELA                       | Venezuela Government International Bond                          | CUSIP: 000000000<br>LEI: 529900XM8PJTJK5OJI77 | Long             | DBT              | NUSS              | VE        |    3425000 | PA      | $503254.17    | 0.40%             | 2019-10-13      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| UZBEKISTAN INTL BOND                        | Republic of Uzbekistan International Bond                        | CUSIP: 91822QVX2<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        |     560000 | PA      | $596138.48    | 0.48%             | 2028-10-12      | Fixed         | 7.85%                 | No            |                  2 | On Loan: No      |
| PETROLEOS DE VENEZUELA S                    | Petroleos de Venezuela SA                                        | CUSIP: 000000000<br>LEI: 549300YWR8TN1OFD4P06 | Long             | DBT              | CORP              | VE        |     173584 | PA      | $21869.95     | 0.02%             | 2026-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| COSTA RICA GOVERNMENT                       | Costa Rica Government International Bond                         | CUSIP: 000000000<br>LEI: 549300S1EK2VN6XVJP58 | Long             | DBT              | NUSS              | CR        |     200000 | PA      | $208547.69    | 0.17%             | 2034-04-03      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| AES PANAMA GENERATION HL                    | AES Panama Generation Holdings SRL                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | PA        |     682108 | PA      | $624502.57    | 0.50%             | 2030-05-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION              | EURO STOXX 50 INDEX                                              | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DE               | CORP              | US        |       -111 | NC      | $-5491.60     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| MDGH GMTN RSC LTD                           | MDGH GMTN RSC Ltd                                                | CUSIP: 000000000<br>LEI: 213800WRY6FRL9IXLT77 | Long             | DBT              | CORP              | AE        |     200000 | PA      | $191672.77    | 0.15%             | 2033-11-22      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION              | CNH/USD FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $407.88       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ARAB REPUBLIC OF EGYPT                      | Egypt Government International Bond                              | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |     595000 | PA      | $602649.61    | 0.48%             | 2030-02-04      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF KENYA                           | Republic of Kenya Government International Bond                  | CUSIP: 000000000<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |     675000 | PA      | $635205.84    | 0.51%             | 2036-03-05      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION              | THB/USD FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-211.13      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UZBEKISTAN INTL BOND                        | Republic of Uzbekistan International Bond                        | CUSIP: 000000000<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        |     200000 | PA      | $212906.60    | 0.17%             | 2028-10-12      | Fixed         | 7.85%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PANAMA                          | Panama Government International Bond                             | CUSIP: 698299BM5<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |    1255000 | PA      | $815229.59    | 0.65%             | 2056-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| QATAR ENERGY                                | QatarEnergy                                                      | CUSIP: 000000000<br>LEI: 254900QTESJKJ3P87J26 | Long             | DBT              | CORP              | QA        |     620000 | PA      | $417680.58    | 0.33%             | 2051-07-12      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION              | CNH/USD FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $264.03       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF INDONESIA                       | Indonesia Government International Bond                          | CUSIP: 455780CX2<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |    1235000 | PA      | $772898.24    | 0.62%             | 2071-03-12      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| ISTANBUL METROPOLITAN MU                    | Istanbul Metropolitan Municipality                               | CUSIP: 000000000<br>LEI: 213800T1VDQSNKA2MD76 | Long             | DBT              | NUSS              | TR        |     200000 | PA      | $211326.38    | 0.17%             | 2027-04-12      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| TURK IHRACAT KR BK                          | Turkiye Ihracat Kredi Bankasi AS                                 | CUSIP: 000000000<br>LEI: 789000JVRVYLAXGDWR11 | Long             | DBT              | NUSS              | TR        |     200000 | PA      | $208820.10    | 0.17%             | 2027-01-28      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| TRINIDAD GEN UNLTD                          | Trinidad Generation UnLtd                                        | CUSIP: 89636DAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | TT        |     205000 | PA      | $211058.83    | 0.17%             | 2033-06-16      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| TURK IHRACAT KR BK                          | Turkiye Ihracat Kredi Bankasi AS                                 | CUSIP: 90015LAK3<br>LEI: 789000JVRVYLAXGDWR11 | Long             | DBT              | NUSS              | TR        |     315000 | PA      | $315403.58    | 0.25%             | 2028-07-03      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF NIGERIA                         | Nigeria Government International Bond                            | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |     644000 | PA      | $609169.07    | 0.49%             | 2032-02-16      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                           | CDS KINGDOM OF SAUDI ARABIA                                      | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-39696.67    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                       | Sri Lanka Government International Bond                          | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |     350000 | PA      | $238915.59    | 0.19%             | 2035-06-15      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION              | USD/PEN FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-3812.88     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION              | MXN/USD FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $4299.92      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION              | USD/MXN FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-11507.37    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                    | Republic of South Africa Government International Bond           | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |     200000 | PA      | $190688.47    | 0.15%             | 2054-11-19      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| ISLAMIC REP OF PAKISTAN                     | Pakistan Government International Bond                           | CUSIP: 000000000<br>LEI: 529900LOP29R5WKHOD86 | Long             | DBT              | NUSS              | PK        |     145000 | PA      | $118411.00    | 0.09%             | 2036-03-31      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                    | Republic of South Africa Government International Bond           | CUSIP: 836205BE3<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |     200000 | PA      | $180319.30    | 0.14%             | 2052-04-20      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PARAGUAY                        | Paraguay Government International Bond                           | CUSIP: 699149AM2<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |     230000 | PA      | $235387.70    | 0.19%             | 2033-08-21      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF EL SALVADOR                     | El Salvador Government International Bond                        | CUSIP: 000000000<br>LEI: 529900AKDMUSFSDOM949 | Long             | DBT              | NUSS              | SV        |     510000 | PA      | $540613.47    | 0.43%             | 2030-04-17      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| ARAB REPUBLIC OF EGYPT                      | Egypt Government International Bond                              | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |     200000 | PA      | $177447.07    | 0.14%             | 2033-09-30      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION              | THB/USD FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $3935.89      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ROMANIA                                     | Romanian Government International Bond                           | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    1384000 | PA      | $1279521.00   | 1.02%             | 2035-03-24      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ROP SUKUK TRUST                             | ROP Sukuk Trust                                                  | CUSIP: 000000000<br>LEI: 254900RB1RTZ84ZMF446 | Long             | DBT              | NUSS              | PH        |     550000 | PA      | $561736.27    | 0.45%             | 2029-06-06      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| STATE OF QATAR                              | Qatar Government International Bond                              | CUSIP: 000000000<br>LEI: 52990074F6OJOAXK4P65 | Long             | DBT              | NUSS              | QA        |     540000 | PA      | $484323.72    | 0.39%             | 2049-03-14      | Fixed         | 4.82%                 | No            |                  2 | On Loan: No      |
| PETROLEOS DE VENEZUELA S                    | Petroleos de Venezuela SA                                        | CUSIP: 000000000<br>LEI: 549300YWR8TN1OFD4P06 | Long             | DBT              | CORP              | VE        |     260000 | PA      | $239926.29    | 0.19%             | 2020-10-27      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION              | COP/USD FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-22.09       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| EDO SUKUK LTD                               | EDO Sukuk Ltd                                                    | CUSIP: 000000000<br>LEI: 5493000LZIE4T625R469 | Long             | DBT              | CORP              | KY        |     515000 | PA      | $523885.78    | 0.42%             | 2031-07-03      | Fixed         | 5.66%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF NIGERIA                         | Nigeria Government International Bond                            | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |    1135000 | PA      | $1188082.14   | 0.95%             | 2031-06-09      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| ABU DHABI DEVELOPMENT HO                    | Abu Dhabi Developmental Holding Co PJSC                          | CUSIP: 000000000<br>LEI: 254900G082ZFKTCR2Q75 | Long             | DBT              | CORP              | AE        |     930000 | PA      | $858863.16    | 0.68%             | 2054-10-02      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                           | Lebanon Government International Bond                            | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |     811000 | PA      | $152223.43    | 0.12%             | 2020-06-19      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PARAGUAY                        | Paraguay Government International Bond                           | CUSIP: 000000000<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |     860000 | PA      | $738160.18    | 0.59%             | 2050-03-30      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                          | Dominican Republic International Bond                            | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |     480000 | PA      | $483795.27    | 0.39%             | 2036-06-01      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION              | USD/MXN FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-4343.62     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ISTANBUL METROPOLITAN MU                    | Istanbul Metropolitan Municipality                               | CUSIP: 000000000<br>LEI: 213800T1VDQSNKA2MD76 | Long             | DBT              | NUSS              | TR        |     200000 | PA      | $215085.67    | 0.17%             | 2028-12-06      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| REPUBLICA ORIENT URUGUAY                    | Uruguay Government International Bond                            | CUSIP: 760942BH4<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |    1120000 | PA      | $1148331.98   | 0.92%             | 2037-02-14      | Fixed         | 5.44%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ZAMBIA                          | Zambia Government International Bond                             | CUSIP: 000000000<br>LEI: 213800DMLAZ6LGMMD849 | Long             | DBT              | NUSS              | ZM        |     520000 | PA      | $352605.99    | 0.28%             | 2053-12-31      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF UZBEKISTAN                      | Republic of Uzbekistan International Bond                        | CUSIP: 000000000<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        |     430000 | PA      | $378663.30    | 0.30%             | 2031-10-19      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| PETRONAS CAPITAL LTD                        | Petronas Capital Ltd                                             | CUSIP: 000000000<br>LEI: 549300G7YFX3540OYR85 | Long             | DBT              | CORP              | MY        |    1215000 | PA      | $1238659.61   | 0.99%             | 2031-01-03      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                          | Dominican Republic International Bond                            | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |     765000 | PA      | $779476.20    | 0.62%             | 2037-03-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION              | USD/DOP FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-16452.40    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF GHANA                           | Ghana Government International Bond                              | CUSIP: 000000000<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |     633000 | PA      | $489905.89    | 0.39%             | 2035-07-03      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GHANA                           | Ghana Government International Bond                              | CUSIP: 000000000<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |      75000 | PA      | $72567.01     | 0.06%             | 2026-07-03      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF TURKIYE                         | Turkiye Government International Bond                            | CUSIP: 900123DP2<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |     506000 | PA      | $506910.21    | 0.40%             | 2032-02-12      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| OQ SAOC                                     | OQ SAOC                                                          | CUSIP: 000000000<br>LEI: 549300YK417GKI6EQ392 | Long             | DBT              | CORP              | OM        |     890000 | PA      | $889628.32    | 0.71%             | 2028-05-06      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| RUTAS 2 & 7 FINANCE LTD                     | Rutas 2 & 7 Finance Ltd                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |     590333 | PA      | $426918.43    | 0.34%             | 2036-09-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CREDICORP CAPITAL SOCIED                    | Credicorp Capital Sociedad Titulizadora SA                       | CUSIP: 224939AB4<br>LEI: N/A                  | Long             | DBT              | CORP              | PE        |     500000 | PA      | $145969.04    | 0.12%             | 2045-03-05      | Fixed         | 9.70%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF NIGERIA                         | Nigeria Government International Bond                            | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |     400000 | PA      | $357129.18    | 0.28%             | 2033-09-28      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                           | CDS FEDERAL REPUBLIC OF NIGERIA                                  | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-60541.46    | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| COSTA RICA GOVERNMENT                       | Costa Rica Government International Bond                         | CUSIP: 000000000<br>LEI: 549300S1EK2VN6XVJP58 | Long             | DBT              | NUSS              | CR        |     650000 | PA      | $673067.40    | 0.54%             | 2054-11-13      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| COSTA RICA GOVERNMENT                       | Costa Rica Government International Bond                         | CUSIP: 221597CR6<br>LEI: 549300S1EK2VN6XVJP58 | Long             | DBT              | NUSS              | CR        |     200000 | PA      | $208547.69    | 0.17%             | 2034-04-03      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| DP WORLD CRESCENT LTD                       | DP World Crescent Ltd                                            | CUSIP: 000000000<br>LEI: 21380096JRTWB8TL9236 | Long             | DBT              | CORP              | KY        |     400000 | PA      | $407185.27    | 0.32%             | 2033-09-13      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ANGOLA                          | Angolan Government International Bond                            | CUSIP: 000000000<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |     296000 | PA      | $262126.94    | 0.21%             | 2032-04-14      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| PETRONAS CAPITAL LTD                        | Petronas Capital Ltd                                             | CUSIP: 000000000<br>LEI: 549300G7YFX3540OYR85 | Long             | DBT              | CORP              | MY        |    1070000 | PA      | $1084874.93   | 0.87%             | 2055-04-03      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION              | USD/PEN FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-14125.61    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| ISLAMIC REP OF PAKISTAN                     | Pakistan Government International Bond                           | CUSIP: 000000000<br>LEI: 529900LOP29R5WKHOD86 | Long             | DBT              | NUSS              | PK        |    1035000 | PA      | $1031236.65   | 0.82%             | 2025-09-30      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| CREDICORP CAPITAL SOCIED                    | Credicorp Capital Sociedad Titulizadora SA                       | CUSIP: 224939AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | PE        |    1190000 | PA      | $355302.71    | 0.28%             | 2043-12-15      | Fixed         | 10.10%                | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                          | Dominican Republic International Bond                            | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |   55000000 | PA      | $978987.92    | 0.78%             | 2035-09-15      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| BANK GOSPODARSTWA KRAJOW                    | Bank Gospodarstwa Krajowego                                      | CUSIP: 000000000<br>LEI: 259400BCOV9JJIGLYF05 | Long             | DBT              | NUSS              | PL        |     600000 | PA      | $603736.82    | 0.48%             | 2033-05-22      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF MONTENEGRO                      | Montenegro Government International Bond                         | CUSIP: 000000000<br>LEI: 747800V014106FYLL014 | Long             | DBT              | NUSS              | ME        |     570000 | PA      | $590369.82    | 0.47%             | 2031-03-12      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF KENYA                           | Republic of Kenya Government International Bond                  | CUSIP: 000000000<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |     260000 | PA      | $263643.41    | 0.21%             | 2031-02-16      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PERU                            | Peruvian Government International Bond                           | CUSIP: 715638EC2<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     585000 | PA      | $565123.04    | 0.45%             | 2054-08-08      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF COLOMBIA                        | Colombia Government International Bond                           | CUSIP: 195325ER2<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    1191000 | PA      | $1232654.56   | 0.98%             | 2030-04-25      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. INTERNATIONAL PLC      | CDS KINGDOM OF SAUDI ARABIA                                      | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-97117.67    | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION              | USD/COP FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-18012.40    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF SERBIA                          | Serbia International Bond                                        | CUSIP: 000000000<br>LEI: 254900W94OCY91V32O78 | Long             | DBT              | NUSS              | RS        |    1080000 | PA      | $1091408.22   | 0.87%             | 2034-06-12      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ECOPETROL SA                                | Ecopetrol SA                                                     | CUSIP: 279158AS8<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |     565000 | PA      | $582701.51    | 0.46%             | 2033-01-13      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                     | Romanian Government International Bond                           | CUSIP: 77586RAU4<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     340000 | PA      | $332812.59    | 0.27%             | 2034-01-30      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| TC ZIRAAT BANKASI AS                        | TC Ziraat Bankasi AS                                             | CUSIP: 000000000<br>LEI: 213800K5KTZFSUS8MR51 | Long             | DBT              | CORP              | TR        |     410000 | PA      | $422147.57    | 0.34%             | 2029-01-16      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION              | USD/EUR FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-3581.90     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF KAZAKHSTAN                      | Kazakhstan Government International Bond                         | CUSIP: 486661BP5<br>LEI: 5493007OEK8EF02UO833 | Long             | DBT              | NUSS              | KZ        |    1005000 | PA      | $1009185.92   | 0.80%             | 2037-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION              | USD/MXN FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-36544.51    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION              | USD/EUR FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-34332.09    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| KINGDOM OF MOROCCO                          | Morocco Government International Bond                            | CUSIP: 000000000<br>LEI: 529900F3MBW9XY5K1X07 | Long             | DBT              | NUSS              | MA        |    1860000 | PA      | $2193924.85   | 1.75%             | 2035-04-02      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                         | Petroleos Mexicanos                                              | CUSIP: 71654QDL3<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    1725000 | PA      | $1786449.91   | 1.42%             | 2029-06-02      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| MDGH GMTN RSC LTD                           | MDGH GMTN RSC Ltd                                                | CUSIP: 000000000<br>LEI: 213800WRY6FRL9IXLT77 | Long             | DBT              | CORP              | AE        |     200000 | PA      | $208113.27    | 0.17%             | 2033-04-28      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ZIRAAT KATILIM VARLIK                       | Ziraat Katilim Varlik Kiralama AS                                | CUSIP: 000000000<br>LEI: 789000NE04RSMGOX9737 | Long             | DBT              | CORP              | TR        |     200000 | PA      | $209335.88    | 0.17%             | 2026-11-12      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF TURKIYE                         | Turkiye Government International Bond                            | CUSIP: 900123CB4<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    2660000 | PA      | $1876000.92   | 1.50%             | 2043-04-16      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF EL SALVADOR                     | El Salvador Government International Bond                        | CUSIP: 000000000<br>LEI: 529900AKDMUSFSDOM949 | Long             | DBT              | NUSS              | SV        |     790000 | PA      | $818300.14    | 0.65%             | 2054-11-21      | Fixed         | 9.65%                 | No            |                  2 | On Loan: No      |
| IVORY COAST                                 | Ivory Coast Government International Bond                        | CUSIP: 221625AU0<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |     210000 | PA      | $202098.73    | 0.16%             | 2037-01-30      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF COLOMBIA                        | Colombia Government International Bond                           | CUSIP: 195325DT9<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |     410000 | PA      | $233502.84    | 0.19%             | 2051-05-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                          | Dominican Republic International Bond                            | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |     585000 | PA      | $613670.29    | 0.49%             | 2031-02-03      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                     | Romanian Government International Bond                           | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     350000 | PA      | $363561.18    | 0.29%             | 2037-02-10      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| MV24 CAPITAL BV                             | MV24 Capital BV                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | NL        |     336867 | PA      | $326539.79    | 0.26%             | 2034-06-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| OMAN GOV INTERNTL BOND                      | Oman Government International Bond                               | CUSIP: 000000000<br>LEI: 549300SZ20F0QTKNQC75 | Long             | DBT              | NUSS              | OM        |    1465000 | PA      | $1510176.72   | 1.20%             | 2048-01-17      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF COLOMBIA                        | Colombia Government International Bond                           | CUSIP: 195325DX0<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    1320000 | PA      | $695794.09    | 0.55%             | 2061-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PHILIPPINES                     | Philippine Government International Bond                         | CUSIP: 000000000<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |     650000 | PA      | $644314.22    | 0.51%             | 2033-04-28      | Fixed         | 1.20%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION              | THB/USD FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $1156.69      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                           | Lebanon Government International Bond                            | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |     269000 | PA      | $50575.95     | 0.04%             | 2027-11-29      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF EL SALVADOR                     | El Salvador Government International Bond                        | CUSIP: 000000000<br>LEI: 529900AKDMUSFSDOM949 | Long             | DBT              | NUSS              | SV        |     824000 | PA      | $16205.37     | 0.01%             | 2030-04-17      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF VENEZUELA                       | Venezuela Government International Bond                          | CUSIP: 000000000<br>LEI: 529900XM8PJTJK5OJI77 | Long             | DBT              | NUSS              | VE        |     738800 | PA      | $118452.09    | 0.09%             | 2024-10-13      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| IVORY COAST                                 | Ivory Coast Government International Bond                        | CUSIP: 000000000<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |     200000 | PA      | $197141.45    | 0.16%             | 2033-01-30      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| GALAXY PIPELINE ASSETS                      | Galaxy Pipeline Assets Bidco Ltd                                 | CUSIP: 000000000<br>LEI: 549300L82YB0C6JQIC26 | Long             | DBT              | CORP              | JE        |     374472 | PA      | $331829.20    | 0.26%             | 2034-03-31      | Fixed         | 2.16%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION              | USD/KZT FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-13669.62    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF GUATEMALA                       | Guatemala Government Bond                                        | CUSIP: 000000000<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |     475000 | PA      | $482865.87    | 0.39%             | 2036-06-13      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| EGYTB 0 08/26/25 144A CLN GS                | EGYTB 0 08/26/25 144A CLN GS                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | EG        |   66625000 | PA      | $1284459.06   | 1.02%             | 2025-08-28      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                    | Republic of South Africa Government International Bond           | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    1290000 | PA      | $1280095.45   | 1.02%             | 2036-11-19      | Fixed         | 7.10%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GUATEMALA                       | Guatemala Government Bond                                        | CUSIP: 000000000<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |     680000 | PA      | $686371.87    | 0.55%             | 2037-02-06      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| NIAGARA ENERGY SAC                          | Niagara Energy SAC                                               | CUSIP: 000000000<br>LEI: 254900V9UGCG42YQ6848 | Long             | DBT              | CORP              | PE        |     715000 | PA      | $707042.65    | 0.56%             | 2034-10-03      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | US 5YR NOTE (CBT)                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |         28 | NC      | $37581.04     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION              | KRW/USD FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $95045.06     | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| DEVELOPMENT BANK OF KAZA                    | Development Bank of Kazakhstan JSC                               | CUSIP: 25159XAF0<br>LEI: 213800LCDPGJ1BI7KX98 | Long             | DBT              | NUSS              | KZ        |  175000000 | PA      | $303945.27    | 0.24%             | 2028-05-23      | Fixed         | 13.49%                | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                       | Sri Lanka Government International Bond                          | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |     490000 | PA      | $395817.69    | 0.32%             | 2038-02-15      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                     | Romanian Government International Bond                           | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     200000 | PA      | $200982.75    | 0.16%             | 2029-01-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| DP WORLD SALAAM                             | DP World Salaam                                                  | CUSIP: 000000000<br>LEI: 549300SUYBT9X88E9435 | Long             | DBT              | CORP              | KY        |    1030000 | PA      | $1028429.85   | 0.82%             | N/A             | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| COMISION FEDERAL DE ELEC                    | Comision Federal de Electricidad                                 | CUSIP: 000000000<br>LEI: 4469000001BFPONMPF32 | Long             | DBT              | CORP              | MX        |     325000 | PA      | $320301.92    | 0.26%             | 2035-01-24      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION              | EUR/USD FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $5107.18      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION              | USD/EUR FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-477595.36   | -0.38%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION              | EUR/USD FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $34752.14     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| PROVINCIA DE BUENOS AIRE                    | Provincia de Buenos Aires/Government Bonds                       | CUSIP: 000000000<br>LEI: 549300L6AYROPOTQ4L07 | Long             | DBT              | NUSS              | AR        |     672744 | PA      | $483012.96    | 0.39%             | 2037-09-01      | Variable      | 6.62%                 | No            |                  2 | On Loan: No      |
| GREENSAIF PIPELINES BIDC                    | Greensaif Pipelines Bidco Sarl                                   | CUSIP: 000000000<br>LEI: 549300YWDGUXPB8GRP47 | Long             | DBT              | CORP              | LU        |     400000 | PA      | $413388.42    | 0.33%             | 2042-02-23      | Fixed         | 6.51%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                       | Sri Lanka Government International Bond                          | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |     284700 | PA      | $266845.72    | 0.21%             | 2028-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF NIGERIA                         | Nigeria Government International Bond                            | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |     850000 | PA      | $806711.15    | 0.64%             | 2028-09-28      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ZAMBIA                          | Zambia Government International Bond                             | CUSIP: 000000000<br>LEI: 213800DMLAZ6LGMMD849 | Long             | DBT              | NUSS              | ZM        |     374742 | PA      | $343132.42    | 0.27%             | 2033-06-30      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SERBIA                          | Serbia International Bond                                        | CUSIP: 000000000<br>LEI: 254900W94OCY91V32O78 | Long             | DBT              | NUSS              | RS        |     400000 | PA      | $412992.38    | 0.33%             | 2028-05-26      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION              | CNH/USD FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $152.53       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION              | THB/USD FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $1331.57      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| AMERICA MOVIL SAB DE CV                     | America Movil SAB de CV                                          | CUSIP: 02364WBL8<br>LEI: 5493000FNR3UCEAONM59 | Long             | DBT              | CORP              | MX        |   12580000 | PA      | $670193.19    | 0.53%             | 2031-01-27      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ECUADOR                         | Ecuador Government International Bond                            | CUSIP: 000000000<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |     500000 | PA      | $361679.07    | 0.29%             | 2030-07-31      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| STATE OF QATAR                              | Qatar Government International Bond                              | CUSIP: 000000000<br>LEI: 52990074F6OJOAXK4P65 | Long             | DBT              | NUSS              | QA        |     200000 | PA      | $188539.28    | 0.15%             | 2048-04-23      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF TURKIYE                         | Turkiye Government International Bond                            | CUSIP: 900123DQ0<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    2040000 | PA      | $2048969.22   | 1.63%             | 2032-05-29      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF COLOMBIA                        | Colombia Government International Bond                           | CUSIP: 195325EL5<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    1310000 | PA      | $1316910.29   | 1.05%             | 2035-11-14      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF CHILE                           | Chile Government International Bond                              | CUSIP: 168863DQ8<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |     400000 | PA      | $242260.82    | 0.19%             | 2061-01-22      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION              | S&P 500 INDEX                                                    | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DE               | CORP              | US        |          4 | NC      | $4160.00      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| REPUBLIC OF PANAMA                          | Panama Government International Bond                             | CUSIP: 698299BL7<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |    1735000 | PA      | $984612.50    | 0.79%             | 2060-07-23      | Fixed         | 3.87%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF COLOMBIA                        | Colombia Government International Bond                           | CUSIP: 195325EP6<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    1995000 | PA      | $1950406.45   | 1.56%             | 2036-11-07      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS LIMITED            | CDS ARAB REPUBLIC OF EGYPT                                       | CUSIP: 000000000<br>LEI: XKZZ2JZF41MRHTR1V493 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $1716.69      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CODELCO INC                                 | Corp Nacional del Cobre de Chile                                 | CUSIP: 000000000<br>LEI: 549300UVMBCBCIPSUI70 | Long             | DBT              | CORP              | CL        |     400000 | PA      | $390251.21    | 0.31%             | 2053-09-08      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| UZBEKNEFTEGAZ JSC                           | Uzbekneftegaz JSC                                                | CUSIP: 000000000<br>LEI: 213800LUZJZFLJD4MJ51 | Long             | DBT              | NUSS              | UZ        |     650000 | PA      | $595220.28    | 0.47%             | 2028-11-16      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | US 2YR NOTE (CBT)                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |         28 | NC      | $15316.90     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| FED REPUBLIC OF BRAZIL                      | Brazilian Government International Bond                          | CUSIP: 105756CG3<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |     770000 | PA      | $797300.89    | 0.64%             | 2031-03-18      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF VENEZUELA                       | Venezuela Government International Bond                          | CUSIP: 000000000<br>LEI: 529900XM8PJTJK5OJI77 | Long             | DBT              | NUSS              | VE        |    1720000 | PA      | $340403.47    | 0.27%             | 2026-10-21      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| ORLEN SA                                    | ORLEN SA                                                         | CUSIP: 000000000<br>LEI: 259400VVMM70CQREJT74 | Long             | DBT              | CORP              | PL        |     440000 | PA      | $450844.54    | 0.36%             | 2035-01-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ARGENTINA                       | Argentine Republic Government International Bond                 | CUSIP: 040114HV5<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |    3268816 | PA      | $2030684.52   | 1.62%             | 2041-07-09      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| TUNISIAN REPUBLIC                           | Tunisian Republic                                                | CUSIP: 000000000<br>LEI: 254900B5LFB16S9T2T11 | Long             | DBT              | NUSS              | TN        |     690000 | PA      | $802679.75    | 0.64%             | 2026-07-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GUATEMALA                       | Guatemala Government Bond                                        | CUSIP: 000000000<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |     665000 | PA      | $675991.61    | 0.54%             | 2031-08-06      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PHILIPPINES                     | Philippine Government International Bond                         | CUSIP: 718286CH8<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |     835000 | PA      | $569467.63    | 0.45%             | 2045-05-05      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PARAGUAY                        | Paraguay Government International Bond                           | CUSIP: 000000000<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |     230000 | PA      | $233714.41    | 0.19%             | 2036-02-09      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SERBIA                          | Serbia International Bond                                        | CUSIP: 000000000<br>LEI: 254900W94OCY91V32O78 | Long             | DBT              | NUSS              | RS        |     600000 | PA      | $631412.70    | 0.50%             | 2033-09-26      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION              | CNH/USD FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $692.17       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF CHILE                           | Chile Government International Bond                              | CUSIP: 000000000<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |     605000 | PA      | $709974.12    | 0.57%             | 2035-07-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                     | Romanian Government International Bond                           | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     130000 | PA      | $127251.87    | 0.10%             | 2034-01-30      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CODELCO INC                                 | Corp Nacional del Cobre de Chile                                 | CUSIP: 000000000<br>LEI: 549300UVMBCBCIPSUI70 | Long             | DBT              | CORP              | CL        |     200000 | PA      | $203562.23    | 0.16%             | 2034-01-08      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                           | Lebanon Government International Bond                            | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |       5000 | PA      | $941.22       | 0.00%             | 2034-05-17      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ECUADOR                         | Ecuador Government International Bond                            | CUSIP: 000000000<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |    2614840 | PA      | $1900364.60   | 1.52%             | 2035-07-31      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                       | Sri Lanka Government International Bond                          | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |     240000 | PA      | $193864.16    | 0.15%             | 2036-05-15      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| NAVOI MINING METALLURGIC                    | Navoi Mining & Metallurgical Combinat                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | UZ        |     250000 | PA      | $255638.62    | 0.20%             | 2028-10-17      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS LIMITED            | CDS STATE OF QATAR                                               | CUSIP: 000000000<br>LEI: XKZZ2JZF41MRHTR1V493 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-147058.23   | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| UNITED MEXICAN STATES                       | Mexico Government International Bond                             | CUSIP: 91087BBB5<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     835000 | PA      | $866144.83    | 0.69%             | 2030-05-13      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF CHILE                           | Chile Government International Bond                              | CUSIP: 168863DW5<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |     700000 | PA      | $540154.32    | 0.43%             | 2052-01-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PHILIPPINES                     | Philippine Government International Bond                         | CUSIP: 718286DB0<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |     710000 | PA      | $698390.38    | 0.56%             | 2049-05-14      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF VENEZUELA                       | Venezuela Government International Bond                          | CUSIP: 000000000<br>LEI: 529900XM8PJTJK5OJI77 | Long             | DBT              | NUSS              | VE        |     125000 | PA      | $23001.07     | 0.02%             | 2031-08-05      | Fixed         | 11.95%                | No            |                  2 | On Loan: No      |
| ECOPETROL SA                                | Ecopetrol SA                                                     | CUSIP: 279158AT6<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |     530000 | PA      | $559759.30    | 0.45%             | 2029-01-19      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| PROVINCIA DE CORDOBA                        | Provincia de Cordoba                                             | CUSIP: 74408DAF1<br>LEI: 5299006CLM2Z97AATT29 | Long             | DBT              | NUSS              | AR        |     384000 | PA      | $384908.93    | 0.31%             | 2032-07-02      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| COMISION FEDERAL DE ELEC                    | Comision Federal de Electricidad                                 | CUSIP: 000000000<br>LEI: 4469000001BFPONMPF32 | Long             | DBT              | CORP              | MX        |     730000 | PA      | $713319.25    | 0.57%             | 2029-05-15      | Fixed         | 4.69%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF NIGERIA                         | Nigeria Government International Bond                            | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |     860000 | PA      | $904982.97    | 0.72%             | 2034-12-09      | Fixed         | 10.38%                | No            |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                           | Lebanon Government International Bond                            | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |     550000 | PA      | $103507.30    | 0.08%             | 2024-11-04      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CODELCO INC                                 | Corp Nacional del Cobre de Chile                                 | CUSIP: 21987BBG2<br>LEI: 549300UVMBCBCIPSUI70 | Long             | DBT              | CORP              | CL        |     600000 | PA      | $610686.70    | 0.49%             | 2034-01-08      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                           | Lebanon Government International Bond                            | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |    2251000 | PA      | $422984.47    | 0.34%             | 2021-04-12      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| CODELCO INC                                 | Corp Nacional del Cobre de Chile                                 | CUSIP: 000000000<br>LEI: 549300UVMBCBCIPSUI70 | Long             | DBT              | CORP              | CL        |     200000 | PA      | $194025.09    | 0.15%             | 2033-02-02      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| NORTH MACEDONIA                             | North Macedonia Government International Bond                    | CUSIP: 000000000<br>LEI: 635400RD1N6RVNCE4958 | Long             | DBT              | NUSS              | MK        |     480000 | PA      | $591704.61    | 0.47%             | 2027-03-13      | Fixed         | 6.96%                 | No            |                  2 | On Loan: No      |
| FED REPUBLIC OF BRAZIL                      | Brazilian Government International Bond                          | CUSIP: 105756CJ7<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |     890000 | PA      | $851758.25    | 0.68%             | 2054-05-13      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| BULGARIA                                    | Bulgaria Government International Bond                           | CUSIP: 000000000<br>LEI: 529900PG0XCL4LICL838 | Long             | DBT              | NUSS              | BG        |     590000 | PA      | $577907.32    | 0.46%             | 2037-03-05      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PHILIPPINES                     | Philippine Government International Bond                         | CUSIP: 718286CT2<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |     520000 | PA      | $544907.29    | 0.43%             | 2033-04-13      | Fixed         | 5.61%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                         | Petroleos Mexicanos                                              | CUSIP: 71654QDE9<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    2761000 | PA      | $2493029.36   | 1.99%             | 2031-01-28      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF VENEZUELA                       | Venezuela Government International Bond                          | CUSIP: 000000000<br>LEI: 529900XM8PJTJK5OJI77 | Long             | DBT              | NUSS              | VE        |     375000 | PA      | $67032.77     | 0.05%             | 2022-08-23      | Fixed         | 12.75%                | No            |                  2 | On Loan: No      |
| IVORY COAST                                 | Ivory Coast Government International Bond                        | CUSIP: 221625AT3<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |     220000 | PA      | $216855.60    | 0.17%             | 2033-01-30      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| DEVELOPMENT BANK OF KAZA                    | Development Bank of Kazakhstan JSC                               | CUSIP: 000000000<br>LEI: 213800LCDPGJ1BI7KX98 | Long             | DBT              | NUSS              | KZ        |     600000 | PA      | $601044.91    | 0.48%             | 2029-10-23      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION              | THB/USD FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $837.71       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| DEVELOPMENT BANK OF KAZA                    | Development Bank of Kazakhstan JSC                               | CUSIP: 48129VAC0<br>LEI: 213800LCDPGJ1BI7KX98 | Long             | DBT              | NUSS              | KZ        |  102500000 | PA      | $183102.94    | 0.15%             | 2027-04-15      | Fixed         | 13.00%                | No            |                  2 | On Loan: No      |
| UZBEKISTAN INTL BOND                        | Republic of Uzbekistan International Bond                        | CUSIP: 000000000<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        |     675000 | PA      | $693630.69    | 0.55%             | 2032-02-28      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                         | Petroleos Mexicanos                                              | CUSIP: 71654QCP5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    1258000 | PA      | $1231317.78   | 0.98%             | 2029-01-23      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                       | Sri Lanka Government International Bond                          | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |     265000 | PA      | $235560.65    | 0.19%             | 2030-01-15      | Variable      | 3.10%                 | No            |                  2 | On Loan: No      |
| GALAXY PIPELINE ASSETS                      | Galaxy Pipeline Assets Bidco Ltd                                 | CUSIP: 000000000<br>LEI: 549300L82YB0C6JQIC26 | Long             | DBT              | CORP              | JE        |    1246252 | PA      | $1021125.91   | 0.81%             | 2040-09-30      | Fixed         | 2.94%                 | No            |                  2 | On Loan: No      |
| ISTANBUL METROPOLITAN MU                    | Istanbul Metropolitan Municipality                               | CUSIP: 46522TAC2<br>LEI: 213800T1VDQSNKA2MD76 | Long             | DBT              | NUSS              | TR        |     280000 | PA      | $301119.94    | 0.24%             | 2028-12-06      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| INRETAIL CONSUMER                           | InRetail Consumer                                                | CUSIP: 000000000<br>LEI: 254900BI1YXHZ31NSP51 | Long             | DBT              | CORP              | PE        |    1065000 | PA      | $1010252.26   | 0.81%             | 2028-03-22      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF POLAND                          | Republic of Poland Government International Bond                 | CUSIP: 857524AE2<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |     450000 | PA      | $475012.92    | 0.38%             | 2032-11-16      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF COLOMBIA                        | Colombia Government International Bond                           | CUSIP: 195325ES0<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    1006000 | PA      | $1046539.98   | 0.83%             | 2035-04-25      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                           | Lebanon Government International Bond                            | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |    2230000 | PA      | $418539.34    | 0.33%             | 2020-03-09      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF KAZAKHSTAN                      | Kazakhstan Government International Bond                         | CUSIP: 000000000<br>LEI: 5493007OEK8EF02UO833 | Long             | DBT              | NUSS              | KZ        |     220000 | PA      | $220916.32    | 0.18%             | 2037-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PARAGUAY                        | Paraguay Government International Bond                           | CUSIP: 000000000<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |     290000 | PA      | $291439.88    | 0.23%             | 2055-03-04      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                     | Romanian Government International Bond                           | CUSIP: 77586RAT7<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     350000 | PA      | $351719.81    | 0.28%             | 2029-01-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION              | USD/KRW FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-88485.45    | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| ROMANIA                                     | Romanian Government International Bond                           | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     622000 | PA      | $439926.12    | 0.35%             | 2050-01-28      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                    | Republic of South Africa Government International Bond           | CUSIP: 836205AV6<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |     915000 | PA      | $639016.86    | 0.51%             | 2046-10-12      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                    | Republic of South Africa Government International Bond           | CUSIP: 836205AS3<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    1200000 | PA      | $912793.60    | 0.73%             | 2044-07-24      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION              | MXN/USD FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $2852.41      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                           | Lebanon Government International Bond                            | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |     716000 | PA      | $134550.32    | 0.11%             | 2023-01-27      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GUATEMALA                       | Guatemala Government Bond                                        | CUSIP: 000000000<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |     390000 | PA      | $330018.76    | 0.26%             | 2033-10-07      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                    | Republic of South Africa Government International Bond           | CUSIP: 836205BA1<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |     775000 | PA      | $746433.15    | 0.60%             | 2029-09-30      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PARAGUAY                        | Paraguay Government International Bond                           | CUSIP: 000000000<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |     425000 | PA      | $434955.54    | 0.35%             | 2033-08-21      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                           | CDS KINGDOM OF SAUDI ARABIA                                      | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-7617.07     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF ARGENTINA                       | Argentine Republic Government International Bond                 | CUSIP: 040114HT0<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |    2527095 | PA      | $1696009.28   | 1.35%             | 2035-07-09      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION              | USD/THB FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-60624.27    | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF ARMENIA                         | Republic of Armenia International Bond                           | CUSIP: 000000000<br>LEI: 5299000H77JSW90G7935 | Long             | DBT              | NUSS              | AM        |    1130000 | PA      | $1099197.49   | 0.88%             | 2035-03-12      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION              | BRL/USD FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $163.85       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FIEMEX ENERGIA - BANC AC                    | FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |     367873 | PA      | $372920.76    | 0.30%             | 2041-01-31      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| EXPORT-IMPORT BK INDIA                      | Export-Import Bank of India                                      | CUSIP: 000000000<br>LEI: 335800OFZ8YEIVN1QI11 | Long             | DBT              | NUSS              | IN        |     905000 | PA      | $927880.52    | 0.74%             | 2035-01-13      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT           | EURO-BUND                                                        | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |        -21 | NC      | $23722.98     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| GREENSAIF PIPELINES BIDC                    | Greensaif Pipelines Bidco Sarl                                   | CUSIP: 000000000<br>LEI: 549300YWDGUXPB8GRP47 | Long             | DBT              | CORP              | LU        |     440000 | PA      | $452999.25    | 0.36%             | 2038-02-23      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| KINGDOM OF MOROCCO                          | Morocco Government International Bond                            | CUSIP: 000000000<br>LEI: 529900F3MBW9XY5K1X07 | Long             | DBT              | NUSS              | MA        |     340000 | PA      | $348263.30    | 0.28%             | 2028-03-08      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| EMPRESA NACIONAL DEL PET                    | Empresa Nacional del Petroleo                                    | CUSIP: 000000000<br>LEI: 549300YP3P0JZBLIV197 | Long             | DBT              | CORP              | CL        |     200000 | PA      | $201874.20    | 0.16%             | 2034-07-30      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                           | Lebanon Government International Bond                            | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |    2621000 | PA      | $492699.74    | 0.39%             | 2022-10-04      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| GREENSAIF PIPELINES BIDC                    | Greensaif Pipelines Bidco Sarl                                   | CUSIP: 000000000<br>LEI: 549300YWDGUXPB8GRP47 | Long             | DBT              | CORP              | LU        |     875000 | PA      | $883454.65    | 0.70%             | 2036-02-23      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ANGOLA                          | Angolan Government International Bond                            | CUSIP: 000000000<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |    1240000 | PA      | $1170902.65   | 0.93%             | 2028-05-09      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| ECOPETROL SA                                | Ecopetrol SA                                                     | CUSIP: 279158AP4<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |     765000 | PA      | $644433.97    | 0.51%             | 2031-11-02      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                          | Dominican Republic International Bond                            | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |     967000 | PA      | $976584.69    | 0.78%             | 2027-01-25      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| FIN DEPT GOVT SHARJAH                       | Finance Department Government of Sharjah                         | CUSIP: 000000000<br>LEI: 254900ZNL8O3F1CLJO24 | Long             | DBT              | NUSS              | AE        |     799000 | PA      | $508718.49    | 0.41%             | 2050-07-28      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF CHILE                           | Chile Government International Bond                              | CUSIP: 168863EA2<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |     925000 | PA      | $868733.42    | 0.69%             | 2054-01-05      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                           | Lebanon Government International Bond                            | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |      36000 | PA      | $6758.51      | 0.01%             | 2020-04-14      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. INTERNATIONAL PLC      | CDS ARAB REPUBLIC OF EGYPT                                       | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-100634.81   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| QATAR ENERGY                                | QatarEnergy                                                      | CUSIP: 000000000<br>LEI: 254900QTESJKJ3P87J26 | Long             | DBT              | CORP              | QA        |     400000 | PA      | $294202.98    | 0.23%             | 2041-07-12      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| ARAB REPUBLIC OF EGYPT                      | Egypt Government International Bond                              | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    1210000 | PA      | $929246.57    | 0.74%             | 2048-02-21      | Fixed         | 7.90%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                          | Dominican Republic International Bond                            | CUSIP: 25714PEW4<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    8350000 | PA      | $148628.17    | 0.12%             | 2035-09-15      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| RBC BlueBay US Government Money Market Fund | RBC BlueBay US Government Money Market Fund                      | CUSIP: 74926P696<br>LEI: 549300RFDC5U7WLJKO50 | Long             | STIV             | RF                | US        |    3544604 | NS      | $3544604.10   | 2.83%             |  |  |  | No            |                  1 | On Loan: No      |
| ISLAMIC REP OF PAKISTAN                     | Pakistan Government International Bond                           | CUSIP: 000000000<br>LEI: 529900LOP29R5WKHOD86 | Long             | DBT              | NUSS              | PK        |     610000 | PA      | $542885.85    | 0.43%             | 2031-04-08      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION              | EURO STOXX 50 INDEX                                              | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DE               | CORP              | US        |        111 | NC      | $13075.26     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| ADNOC MURBAN RSC LTD                        | Adnoc Murban Rsc Ltd                                             | CUSIP: 000000000<br>LEI: 213800OWGH7RAYG61M70 | Long             | DBT              | CORP              | AE        |     917000 | PA      | $832737.21    | 0.66%             | 2054-09-11      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| REPUBLICA ORIENT URUGUAY                    | Uruguay Government International Bond                            | CUSIP: 760942BD3<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |    1147599 | PA      | $1016833.65   | 0.81%             | 2055-04-20      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                     | Romanian Government International Bond                           | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     440000 | PA      | $510570.25    | 0.41%             | 2031-09-24      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| MEXICO CITY ARPT TRUST                      | Mexico City Airport Trust                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |     990000 | PA      | $816822.56    | 0.65%             | 2047-07-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| EDO SUKUK LTD                               | EDO Sukuk Ltd                                                    | CUSIP: 000000000<br>LEI: 5493000LZIE4T625R469 | Long             | DBT              | CORP              | KY        |     500000 | PA      | $511411.29    | 0.41%             | 2033-09-21      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF COLOMBIA                        | Colombia Government International Bond                           | CUSIP: 195325DZ5<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    1910000 | PA      | $1512404.31   | 1.21%             | 2032-04-22      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION              | COP/USD FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $25548.45     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-25

**Name of Applicant:** RBC Funds Trust

**Signature:** Kathy Hegna

**Name of Signer:** Kathy Hegna

**Title:** Treasurer and Chief Financial Officer - RBC Funds, and Director of Mutual Fund Services | RBC Global Asset Management (U.S.) Inc.