# EDGAR Filing Document

**Accession Number:** 0000831114
**File Stem:** 0001145549-25-049625
**Filing Date:** 2025-7
**Character Count:** 46750
**Document Hash:** 42f0fdf34ac7bcd7b82b7f3de614cd5b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-049625.hdr.sgml**: 20250729

**ACCESSION NUMBER**: 0001145549-25-049625

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250729

**DATE AS OF CHANGE**: 20250729

**PERIOD START**: 20250831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** RBB FUND, INC.
- **CENTRAL INDEX KEY:** 0000831114

**ORGANIZATION NAME:**
- **EIN:** 510312196
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05518
- **FILM NUMBER:** 251159525

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

**MAIL ADDRESS:**
- **STREET 1:** 615 E. MICHIGAN ST.
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** RBB FUND INC
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FUND INC /DE/
- **DATE OF NAME CHANGE:** 19600201

## Series and Classes Contracts Data

### WPG Partners Small Cap Value Diversified Fund (Series ID: S000001097)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000002987 | INSTITUTIONAL | WPGTX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **WPG Partners Small Cap Value Diversified Fund** | **WPG Partners Small Cap Value Diversified Fund** | **WPG Partners Small Cap Value Diversified Fund** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **May 31, 2025 (Unaudited)** | **May 31, 2025 (Unaudited)** | **May 31, 2025 (Unaudited)** |
| **COMMON STOCKS - 96.3%** | **Shares** | **Value**  |
| **Communication Services - 1.4%** | **Communication Services - 1.4%** | |
| Cargurus, Inc. <sup>(a)</sup> | 13371 | $419047 |
| **Consumer Discretionary - 6.6%** | **Consumer Discretionary - 6.6%** |  |
| ADT, Inc. | 34412 | 286308 |
| Advance Auto Parts, Inc. <sup>(b)</sup> | 4110 | 196992 |
| Bath & Body Works, Inc. | 7702 | 216580 |
| Century Communities, Inc. | 2607 | 135225 |
| Dave & Buster's Entertainment, Inc. <sup>(a)(b)</sup> | 3603 | 79122 |
| Gentherm, Inc. <sup>(a)</sup> | 6142 | 168076 |
| Gildan Activewear, Inc. | 9208 | 429093 |
| Under Armour, Inc. - Class C <sup>(a)(b)</sup> | 24448 | 154022 |
| Wayfair, Inc. - Class A <sup>(a)(b)</sup> | 2317 | 95553 |
| Whirlpool Corp. <sup>(b)</sup> | 939 | 73327 |
| Wyndham Hotels & Resorts, Inc. | 1586 | 131289 |
|  |  | 1965587 |
| **Consumer Staples - 1.4%** | **Consumer Staples - 1.4%** |  |
| Grocery Outlet Holding Corp. <sup>(a)(b)</sup> | 10204 | 138570 |
| Nomad Foods Ltd. <sup>(b)</sup> | 15940 | 278950 |
|  |  | 417520 |
| **Energy - 7.4%** | **Energy - 7.4%** |  |
| Atlas Energy Solutions, Inc. <sup>(b)</sup> | 5680 | 69012 |
| BKV Corp. <sup>(a)(b)</sup> | 17503 | 376315 |
| DHT Holdings, Inc. | 30535 | 353595 |
| Expro Group Holdings NV <sup>(a)</sup> | 20878 | 173705 |
| Infinity Natural Resources, Inc. - Class A <sup>(a)</sup> | 20376 | 339872 |
| Liberty Energy, Inc. | 9612 | 111403 |
| Scorpio Tankers, Inc. | 11110 | 441512 |
| SM Energy Co. <sup>(b)</sup> | 9008 | 210967 |
| Viper Energy, Inc. | 3086 | 122483 |
|  |  | 2198864 |
| **Financials - 21.3%** | **Financials - 21.3%** |  |
| Axis Capital Holdings Ltd. | 2888 | 299774 |
| BGC Group, Inc. - Class A | 71563 | 664105 |
| CNO Financial Group, Inc. | 8452 | 320838 |
| Enterprise Financial Services Corp. | 10587 | 560476 |
| First BanCorp | 14270 | 285115 |
| First Commonwealth Financial Corp. | 24232 | 378504 |
| FirstCash Holdings, Inc. | 1126 | 144027 |
| Hanover Insurance Group, Inc. | 3422 | 602203 |
| Kemper Corp. | 11296 | 719894 |
| National Bank Holdings Corp. - Class A | 10504 | 379720 |
| Popular, Inc. | 3306 | 342270 |
| Primerica, Inc. | 268 | 72521 |
| Prosperity Bancshares, Inc. | 6871 | 478565 |
| SLM Corp. | 8522 | 275857 |
| Webster Financial Corp. | 10490 | 540025 |
| WesBanco, Inc. | 9407 | 289547 |
|  |  | 6353441 |
| **Health Care - 6.5%** | **Health Care - 6.5%** |  |
| Enovis Corp. <sup>(a)(b)</sup> | 18528 | 579926 |
| Halozyme Therapeutics, Inc. <sup>(a)(b)</sup> | 3127 | 175331 |
| Phreesia, Inc. <sup>(a)</sup> | 12760 | 312492 |
| Teleflex, Inc. | 5029 | 614896 |
| Tenet Healthcare Corp. <sup>(a)</sup> | 1539 | 259737 |
|  |  | 1942382 |
| **Industrials - 19.6%** | **Industrials - 19.6%** |  |
| ABM Industries, Inc. | 8665 | 456212 |
| Air Lease Corp. | 9927 | 571895 |
| Arcosa, Inc. | 3315 | 285985 |
| BrightView Holdings, Inc. <sup>(a)</sup> | 30653 | 477574 |
| Driven Brands Holdings, Inc. <sup>(a)</sup> | 21749 | 387567 |
| First Advantage Corp. <sup>(a)</sup> | 7500 | 128400 |
| Fluor Corp. <sup>(a)</sup> | 3553 | 147734 |
| GXO Logistics, Inc. <sup>(a)(b)</sup> | 10702 | 440280 |
| Hillman Solutions Corp. <sup>(a)</sup> | 34564 | 250243 |
| KBR, Inc. | 6804 | 355101 |
| Knight-Swift Transportation Holdings, Inc. | 9014 | 399501 |
| Leonardo DRS, Inc. | 9147 | 386918 |
| MasTec, Inc. <sup>(a)</sup> | 1725 | 268979 |
| Maximus, Inc. | 3255 | 236020 |
| MYR Group, Inc. <sup>(a)</sup> | 1927 | 302250 |
| NV5 Global, Inc. <sup>(a)</sup> | 6840 | 151164 |
| Star Bulk Carriers Corp. <sup>(b)</sup> | 18140 | 299491 |
| Timken Co., (The) <sup>(b)</sup> | 2277 | 155952 |
| UFP Industries, Inc. | 1630 | 159023 |
|  |  | 5860289 |
| **Information Technology - 10.5%** | **Information Technology - 10.5%** |  |
| BlackBerry Ltd. <sup>(a)(b)</sup> | 26403 | 104556 |
| Calix, Inc. <sup>(a)</sup> | 1680 | 77683 |
| Coherent Corp. <sup>(a)</sup> | 3731 | 282175 |
| Crane NXT Co. <sup>(b)</sup> | 7280 | 390281 |
| Diodes, Inc. <sup>(a)</sup> | 3899 | 173116 |
| NCR Voyix Corp. <sup>(a)(b)</sup> | 42456 | 470837 |
| Silicon Motion Technology Corp. - ADR | 11706 | 716407 |
| Teradata Corp. <sup>(a)</sup> | 13546 | 297470 |
| Tower Semiconductor Ltd. <sup>(a)</sup> | 7254 | 286098 |
| Verint Systems, Inc. <sup>(a)</sup> | 19459 | 341311 |
|  |  | 3139934 |
| **Materials - 9.6%** | **Materials - 9.6%** |  |
| Alcoa Corp. | 8598 | 230169 |
| Ashland, Inc. | 5504 | 272503 |
| Capstone Copper Corp. <sup>(a)</sup> | 74029 | 401338 |
| Commercial Metals Co. | 4795 | 223399 |
| Constellium SE <sup>(a)</sup> | 30155 | 366082 |
| ERO Copper Corp. <sup>(a)(b)</sup> | 25704 | 362683 |
| Huntsman Corp. | 22915 | 255273 |
| Mosaic Co. | 5293 | 191289 |
| thyssenkrupp AG | 23969 | 233417 |
| Warrior Met Coal, Inc. <sup>(b)</sup> | 7011 | 318650 |
|  |  | 2854803 |
| **Real Estate - 6.1%** | **Real Estate - 6.1%** |  |
| Brixmor Property Group, Inc. | 23946 | 608468 |
| Broadstone Net Lease, Inc. | 23794 | 378562 |
| Getty Realty Corp. <sup>(b)</sup> | 19346 | 566064 |
| Newmark Group, Inc. - Class A <sup>(b)</sup> | 23703 | 260970 |
|  |  | 1814064 |
| **Utilities - 5.9%** | **Utilities - 5.9%** |  |
| Black Hills Corp. | 5806 | 339477 |
| Northwestern Energy Group, Inc. | 6818 | 377240 |
| Portland General Electric Co. | 12526 | 531102 |
| Spire, Inc. | 5996 | 451379 |
| Talen Energy Corp. <sup>(a)</sup> | 308 | 75137 |
|  |  | 1774335 |
| **TOTAL COMMON STOCKS** (Cost $26,767,277) | **TOTAL COMMON STOCKS** (Cost $26,767,277) | 28740266 |
| **SHORT-TERM INVESTMENTS - 17.5%** |  | **Value**  |
| **Investments Purchased with Proceeds from Securities Lending - 17.5%** | **<u>Units</u>** |  |
| Mount Vernon Liquid Assets Portfolio, LLC, 4.45% <sup>(c)</sup> | 5216133 | 5216133 |
| **TOTAL SHORT-TERM INVESTMENTS** (Cost $5,216,133) | **TOTAL SHORT-TERM INVESTMENTS** (Cost $5,216,133) | 5216133 |
| **TOTAL INVESTMENTS - 113.8% (**Cost $31,983,410**)** | **TOTAL INVESTMENTS - 113.8% (**Cost $31,983,410**)** | 33956399 |
| Liabilities in Excess of Other Assets - (13.8)% | Liabilities in Excess of Other Assets - (13.8)% | (4112225) |
| **TOTAL NET ASSETS - 100.0%** |  | $29844174 |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |  |
| The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. | The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. | The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. |
| More narrow industries are utilized for compliance purposes, whereas broad sectors are utilized for reporting purposes. | More narrow industries are utilized for compliance purposes, whereas broad sectors are utilized for reporting purposes. | More narrow industries are utilized for compliance purposes, whereas broad sectors are utilized for reporting purposes. |

---

ADR - American Depositary Receipt <br> LLC - Limited Liability Company

(a) Non-income producing security.

(b) All or a portion of this security is on loan as of May 31, 2025. The fair value of these securities was $5,031,893.

(c) The rate shown represents the 7-day annualized effective yield as of May 31, 2025.

------

#### <br>

#### Summary of Fair Value Disclosure as of May 31, 2025 (Unaudited)
WPG Partners Small Cap Value Diversified Fund (the "Fund") has adopted fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

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

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

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

The following is a summary of the fair valuation hierarchy of the Fund's securities as of May 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| **Assets:** | | | | |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $28506849 | $233417 | $– | $28740266 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Investments Purchased with Proceeds from Securities Lending<sup>(a)</sup> | – | – | – | 5216133 |
| Total Investments | $28506849 | $233417 | $– | $33956399 |
| Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. |

---

(a) Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair
 value amount of $5,216,133 presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts listed in the Schedule of Investments.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** RBB Fund, Inc.

- **b. Investment Company Act file number:** 811-05518

- **c. CIK number of Registrant:** 0000831114

- **d. LEI of Registrant:** 5493005KKD0GVHSW0D29

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

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

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53202

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

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

- **a. Name of Series:** WPG Partners Small Cap Value Diversified Fund

- **b. EDGAR series identifier (if any):** S000001097

- **c. LEI of Series:** 549300KOV49QCC7Y4F81

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

- **a. Date of fiscal year-end:** 2025-08-31

- **b. Date as of which information is reported:** 2025-05-31

**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:** $35124354.36

**Total Liabilities:** $5280285.59

**Net Assets:** $29844068.77

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000002987 | -4.28%               | -3.80%               | 5.75%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $228505.11               | $-1612436.08                               |
| Month 2  | $-623423.43              | $-532392.22                                |
| Month 3  | $-253183.49              | $1844972.02                                |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                                      | Title                                     | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   | Fair Value Level   | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| GXO Logistics Inc                         | GXO Logistics Inc                         | CUSIP: 36262G101<br>LEI: 5493007CNWMXN78JRN66 | Long             | EC               | CORP              | US        |     10702 | NS      | $440280.28    | 1.48%             |  |  |  | No            | 1                  | On Loan: —       |
| Gentherm Inc                              | Gentherm Inc                              | CUSIP: 37253A103<br>LEI: HKM6YX1U5JS60TCUB219 | Long             | EC               | CORP              | US        |      6142 | NS      | $168075.83    | 0.56%             |  |  |  | No            | 1                  | On Loan: No      |
| Getty Realty Corp                         | Getty Realty Corp                         | CUSIP: 374297109<br>LEI: 2549000P1W5SFJWCNP90 | Long             | EC               | CORP              | US        |     19346 | NS      | $566063.96    | 1.90%             |  |  |  | No            | 1                  | On Loan: —       |
| Gildan Activewear Inc                     | Gildan Activewear Inc                     | CUSIP: 375916103<br>LEI: 549300SB3IBI34M00Z45 | Long             | EC               | CORP              | CA        |      9208 | NS      | $429092.80    | 1.44%             |  |  |  | No            | 1                  | On Loan: No      |
| Grocery Outlet Holding Corp               | Grocery Outlet Holding Corp               | CUSIP: 39874R101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10204 | NS      | $138570.32    | 0.46%             |  |  |  | No            | 1                  | On Loan: —       |
| Halozyme Therapeutics Inc                 | Halozyme Therapeutics Inc                 | CUSIP: 40637H109<br>LEI: 529900242I3SV9AGM753 | Long             | EC               | CORP              | US        |      3127 | NS      | $175330.89    | 0.59%             |  |  |  | No            | 1                  | On Loan: —       |
| Hanover Insurance Group Inc/Th            | Hanover Insurance Group Inc/The           | CUSIP: 410867105<br>LEI: JJYR6MFKFF6CF8DBZ078 | Long             | EC               | CORP              | US        |      3422 | NS      | $602203.56    | 2.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Hillman Solutions Corp                    | Hillman Solutions Corp                    | CUSIP: 431636109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     34564 | NS      | $250243.36    | 0.84%             |  |  |  | No            | 1                  | On Loan: No      |
| Huntsman Corp                             | Huntsman Corp                             | CUSIP: 447011107<br>LEI: 5299000V56320A7RIQ67 | Long             | EC               | CORP              | US        |     22915 | NS      | $255273.10    | 0.86%             |  |  |  | No            | 1                  | On Loan: No      |
| Infinity Natural Resources Inc            | Infinity Natural Resources Inc            | CUSIP: 456941103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20376 | NS      | $339871.68    | 1.14%             |  |  |  | No            | 1                  | On Loan: No      |
| KBR Inc                                   | KBR Inc                                   | CUSIP: 48242W106<br>LEI: 254900OFQDXZRKRCV808 | Long             | EC               | CORP              | US        |      6804 | NS      | $355100.76    | 1.19%             |  |  |  | No            | 1                  | On Loan: No      |
| Kemper Corp                               | Kemper Corp                               | CUSIP: 488401100<br>LEI: 549300FNI1JKTRY2PV09 | Long             | EC               | CORP              | US        |     11296 | NS      | $719894.08    | 2.41%             |  |  |  | No            | 1                  | On Loan: No      |
| Knight-Swift Transportation Ho            | Knight-Swift Transportation Holdings Inc  | CUSIP: 499049104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9014 | NS      | $399500.48    | 1.34%             |  |  |  | No            | 1                  | On Loan: No      |
| Leonardo DRS Inc                          | Leonardo DRS Inc                          | CUSIP: 52661A108<br>LEI: 549300HMMEWVG3PPQU18 | Long             | EC               | CORP              | US        |      9147 | NS      | $386918.10    | 1.30%             |  |  |  | No            | 1                  | On Loan: No      |
| Liberty Energy Inc                        | Liberty Energy Inc                        | CUSIP: 53115L104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9612 | NS      | $111403.08    | 0.37%             |  |  |  | No            | 1                  | On Loan: No      |
| MYR Group Inc                             | MYR Group Inc                             | CUSIP: 55405W104<br>LEI: 529900G1IMMZHOQ17I54 | Long             | EC               | CORP              | US        |      1927 | NS      | $302249.95    | 1.01%             |  |  |  | No            | 1                  | On Loan: No      |
| thyssenkrupp AG                           | thyssenkrupp AG                           | CUSIP: N/A<br>LEI: 549300UDG16DOYUPR330       | Long             | EC               | CORP              | DE        |     23969 | NS      | $233417.36    | 0.78%             |  |  |  | No            | 2                  | On Loan: No      |
| MasTec Inc                                | MasTec Inc                                | CUSIP: 576323109<br>LEI: 549300TMDIT8WREDOF45 | Long             | EC               | CORP              | US        |      1725 | NS      | $268979.25    | 0.90%             |  |  |  | No            | 1                  | On Loan: No      |
| Maximus Inc                               | Maximus Inc                               | CUSIP: 577933104<br>LEI: 549300DQCDS8HJ7QF202 | Long             | EC               | CORP              | US        |      3255 | NS      | $236020.05    | 0.79%             |  |  |  | No            | 1                  | On Loan: No      |
| Mosaic Co/The                             | Mosaic Co/The                             | CUSIP: 61945C103<br>LEI: 2YD5STGSJNMUB7H76907 | Long             | EC               | CORP              | US        |      5293 | NS      | $191289.02    | 0.64%             |  |  |  | No            | 1                  | On Loan: No      |
| SM Energy Co                              | SM Energy Co                              | CUSIP: 78454L100<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | EC               | CORP              | US        |      9008 | NS      | $210967.36    | 0.71%             |  |  |  | No            | 1                  | On Loan: —       |
| Spire Inc                                 | Spire Inc                                 | CUSIP: 84857L101<br>LEI: 549300NXSY15DRY2R511 | Long             | EC               | CORP              | US        |      5996 | NS      | $451378.88    | 1.51%             |  |  |  | No            | 1                  | On Loan: No      |
| Talen Energy Corp                         | Talen Energy Corp                         | CUSIP: 87422Q109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       308 | NS      | $75136.60     | 0.25%             |  |  |  | No            | 1                  | On Loan: No      |
| Teleflex Inc                              | Teleflex Inc                              | CUSIP: 879369106<br>LEI: UUL85LWXB4NGSWWXIQ25 | Long             | EC               | CORP              | US        |      5029 | NS      | $614895.83    | 2.06%             |  |  |  | No            | 1                  | On Loan: No      |
| Tenet Healthcare Corp                     | Tenet Healthcare Corp                     | CUSIP: 88033G407<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | EC               | CORP              | US        |      1539 | NS      | $259737.03    | 0.87%             |  |  |  | No            | 1                  | On Loan: No      |
| Teradata Corp                             | Teradata Corp                             | CUSIP: 88076W103<br>LEI: 549300JU9SOUHV4U4R71 | Long             | EC               | CORP              | US        |     13546 | NS      | $297470.16    | 1.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Timken Co/The                             | Timken Co/The                             | CUSIP: 887389104<br>LEI: B0I35MLPFXZSE70ASS73 | Long             | EC               | CORP              | US        |      2277 | NS      | $155951.73    | 0.52%             |  |  |  | No            | 1                  | On Loan: —       |
| U.S. Bank Money Market Deposit Account    | U.S. Bank Money Market Deposit Account    | CUSIP: 8AMMF0A92<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    212059 | NS      | $212059.01    | 0.71%             |  |  |  | No            | 1                  | On Loan: No      |
| UFP Industries Inc                        | UFP Industries Inc                        | CUSIP: 90278Q108<br>LEI: 5493007KB485C9OV5572 | Long             | EC               | CORP              | US        |      1630 | NS      | $159022.80    | 0.53%             |  |  |  | No            | 1                  | On Loan: No      |
| Under Armour Inc                          | Under Armour Inc                          | CUSIP: 904311206<br>LEI: 549300D4549QKWETZ406 | Long             | EC               | CORP              | US        |     24448 | NS      | $154022.40    | 0.52%             |  |  |  | No            | 1                  | On Loan: —       |
| Tri-State Deposit                         | Tri-State Deposit                         | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | CORP              | US        |    896751 | PA      | $896750.98    | 3.00%             | 2050-01-01      | Variable      | 4.45%                 | No            | 2                  | On Loan: No      |
| Mount Vernon Liquid Assets Portfolio, LLC | Mount Vernon Liquid Assets Portfolio, LLC | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |   5216132 | NS      | $5216132.50   | 17.48%            |  |  |  | No            | N/A                | On Loan: No      |
| Tower Semiconductor Ltd                   | Tower Semiconductor Ltd                   | CUSIP: N/A<br>LEI: 54930086ZSNXZOUX0C54       | Long             | EC               | CORP              | IL        |      7254 | NS      | $286097.76    | 0.96%             |  |  |  | No            | 1                  | On Loan: No      |
| Star Bulk Carriers Corp                   | Star Bulk Carriers Corp                   | CUSIP: N/A<br>LEI: 549300SO3FMK7H6DDY54       | Long             | EC               | CORP              | GR        |     18140 | NS      | $299491.40    | 1.00%             |  |  |  | No            | 1                  | On Loan: —       |
| ABM Industries Inc                        | ABM Industries Inc                        | CUSIP: 000957100<br>LEI: QF02R89VEIOROM77J447 | Long             | EC               | CORP              | US        |      8665 | NS      | $456212.25    | 1.53%             |  |  |  | No            | 1                  | On Loan: No      |
| CNO Financial Group Inc                   | CNO Financial Group Inc                   | CUSIP: 12621E103<br>LEI: 11XPYHB76MPM4Y4P2897 | Long             | EC               | CORP              | US        |      8452 | NS      | $320837.92    | 1.08%             |  |  |  | No            | 1                  | On Loan: No      |
| Calix Inc                                 | Calix Inc                                 | CUSIP: 13100M509<br>LEI: 5299002RQRZ4SXSCSJ58 | Long             | EC               | CORP              | US        |      1680 | NS      | $77683.20     | 0.26%             |  |  |  | No            | 1                  | On Loan: No      |
| Cargurus Inc                              | Cargurus Inc                              | CUSIP: 141788109<br>LEI: 54930027BKQN6B7X7G78 | Long             | EC               | CORP              | US        |     13371 | NS      | $419047.14    | 1.40%             |  |  |  | No            | 1                  | On Loan: No      |
| Century Communities Inc                   | Century Communities Inc                   | CUSIP: 156504300<br>LEI: 5299002QMB2O7ZL1CA26 | Long             | EC               | CORP              | US        |      2607 | NS      | $135225.09    | 0.45%             |  |  |  | No            | 1                  | On Loan: No      |
| Coherent Corp                             | Coherent Corp                             | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               | CORP              | US        |      3731 | NS      | $282175.53    | 0.95%             |  |  |  | No            | 1                  | On Loan: No      |
| Enovis Corp                               | Enovis Corp                               | CUSIP: 194014502<br>LEI: 635400OP2DYYYMOIYL17 | Long             | EC               | CORP              | US        |     18528 | NS      | $579926.40    | 1.94%             |  |  |  | No            | 1                  | On Loan: —       |
| Commercial Metals Co                      | Commercial Metals Co                      | CUSIP: 201723103<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | EC               | CORP              | US        |      4795 | NS      | $223399.05    | 0.75%             |  |  |  | No            | 1                  | On Loan: No      |
| Crane NXT Co                              | Crane NXT Co                              | CUSIP: 224441105<br>LEI: 549300EXNPSXEWUD3N21 | Long             | EC               | CORP              | US        |      7280 | NS      | $390280.80    | 1.31%             |  |  |  | No            | 1                  | On Loan: —       |
| Dave & Buster's Entertainment             | Dave & Buster's Entertainment Inc         | CUSIP: 238337109<br>LEI: 529900WTVU85QZLYHR86 | Long             | EC               | CORP              | US        |      3603 | NS      | $79121.88     | 0.27%             |  |  |  | No            | 1                  | On Loan: —       |
| Diodes Inc                                | Diodes Inc                                | CUSIP: 254543101<br>LEI: 549300XP2X1ARVH3BX23 | Long             | EC               | CORP              | US        |      3899 | NS      | $173115.60    | 0.58%             |  |  |  | No            | 1                  | On Loan: No      |
| Driven Brands Holdings Inc                | Driven Brands Holdings Inc                | CUSIP: 26210V102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21749 | NS      | $387567.18    | 1.30%             |  |  |  | No            | 1                  | On Loan: No      |
| Enterprise Financial Services             | Enterprise Financial Services Corp        | CUSIP: 293712105<br>LEI: 5493001XTU5DLD632129 | Long             | EC               | CORP              | US        |     10587 | NS      | $560475.78    | 1.88%             |  |  |  | No            | 1                  | On Loan: No      |
| ERO Copper Corp                           | ERO Copper Corp                           | CUSIP: 296006109<br>LEI: 549300KL8A21SEIO8I47 | Long             | EC               | CORP              | CA        |     25704 | NS      | $362683.44    | 1.22%             |  |  |  | No            | 1                  | On Loan: —       |
| First Advantage Corp                      | First Advantage Corp                      | CUSIP: 31846B108<br>LEI: 549300RNJ0PXU8FP7D06 | Long             | EC               | CORP              | US        |      7500 | NS      | $128400.00    | 0.43%             |  |  |  | No            | 1                  | On Loan: No      |
| First BanCorp/Puerto Rico                 | First BanCorp/Puerto Rico                 | CUSIP: 318672706<br>LEI: N/A                  | Long             | EC               | CORP              | PR        |     14270 | NS      | $285114.60    | 0.96%             |  |  |  | No            | 1                  | On Loan: No      |
| First Commonwealth Financial C            | First Commonwealth Financial Corp         | CUSIP: 319829107<br>LEI: 549300ZHLQ42NXDETL24 | Long             | EC               | CORP              | US        |     24232 | NS      | $378503.84    | 1.27%             |  |  |  | No            | 1                  | On Loan: No      |
| FirstCash Holdings Inc                    | FirstCash Holdings Inc                    | CUSIP: 33768G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1126 | NS      | $144026.66    | 0.48%             |  |  |  | No            | 1                  | On Loan: No      |
| Fluor Corp                                | Fluor Corp                                | CUSIP: 343412102<br>LEI: CQ7WZ4NOFWT7FAE6Q943 | Long             | EC               | CORP              | US        |      3553 | NS      | $147733.74    | 0.50%             |  |  |  | No            | 1                  | On Loan: No      |
| Verint Systems Inc                        | Verint Systems Inc                        | CUSIP: 92343X100<br>LEI: 549300KEQJS5FRVUCO94 | Long             | EC               | CORP              | US        |     19459 | NS      | $341310.86    | 1.14%             |  |  |  | No            | 1                  | On Loan: No      |
| Viper Energy Inc                          | Viper Energy Inc                          | CUSIP: 927959106<br>LEI: 5299009LINL232255G03 | Long             | EC               | CORP              | US        |      3086 | NS      | $122483.34    | 0.41%             |  |  |  | No            | 1                  | On Loan: No      |
| Warrior Met Coal Inc                      | Warrior Met Coal Inc                      | CUSIP: 93627C101<br>LEI: 549300152B1S9YKBYV79 | Long             | EC               | CORP              | US        |      7011 | NS      | $318649.95    | 1.07%             |  |  |  | No            | 1                  | On Loan: —       |
| Wayfair Inc                               | Wayfair Inc                               | CUSIP: 94419L101<br>LEI: 54930027N9ZAVYFDHK53 | Long             | EC               | CORP              | US        |      2317 | NS      | $95553.08     | 0.32%             |  |  |  | No            | 1                  | On Loan: —       |
| Webster Financial Corp                    | Webster Financial Corp                    | CUSIP: 947890109<br>LEI: KMRURHT0VWKYS6Z5KU67 | Long             | EC               | CORP              | US        |     10490 | NS      | $540025.20    | 1.81%             |  |  |  | No            | 1                  | On Loan: No      |
| WesBanco Inc                              | WesBanco Inc                              | CUSIP: 950810101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9407 | NS      | $289547.46    | 0.97%             |  |  |  | No            | 1                  | On Loan: No      |
| Whirlpool Corp                            | Whirlpool Corp                            | CUSIP: 963320106<br>LEI: WHENKOULSSK7WUM60H03 | Long             | EC               | CORP              | US        |       939 | NS      | $73326.51     | 0.25%             |  |  |  | No            | 1                  | On Loan: —       |
| Wyndham Hotels & Resorts Inc              | Wyndham Hotels & Resorts Inc              | CUSIP: 98311A105<br>LEI: 549300FE3MQ4RVXXC673 | Long             | EC               | CORP              | US        |      1586 | NS      | $131289.08    | 0.44%             |  |  |  | No            | 1                  | On Loan: No      |
| Capstone Copper Corp                      | Capstone Copper Corp                      | CUSIP: 14071L108<br>LEI: 549300III6KGKKC42W63 | Long             | EC               | CORP              | CA        |     74029 | NS      | $401337.68    | 1.34%             |  |  |  | No            | 1                  | On Loan: No      |
| Constellium SE                            | Constellium SE                            | CUSIP: N/A<br>LEI: 724500KRJEMC79KAAU28       | Long             | EC               | CORP              | FR        |     30155 | NS      | $366081.70    | 1.23%             |  |  |  | No            | 1                  | On Loan: No      |
| Expro Group Holdings NV                   | Expro Group Holdings NV                   | CUSIP: N/A<br>LEI: 724500LJYA8QIT73H017       | Long             | EC               | CORP              | US        |     20878 | NS      | $173704.96    | 0.58%             |  |  |  | No            | 1                  | On Loan: No      |
| DHT Holdings Inc                          | DHT Holdings Inc                          | CUSIP: N/A<br>LEI: 549300SMD6IVZYT74K40       | Long             | EC               | CORP              | BM        |     30535 | NS      | $353595.30    | 1.18%             |  |  |  | No            | 1                  | On Loan: No      |
| ADT Inc                                   | ADT Inc                                   | CUSIP: 00090Q103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     34412 | NS      | $286307.84    | 0.96%             |  |  |  | No            | 1                  | On Loan: No      |
| Advance Auto Parts Inc                    | Advance Auto Parts Inc                    | CUSIP: 00751Y106<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | EC               | CORP              | US        |      4110 | NS      | $196992.30    | 0.66%             |  |  |  | No            | 1                  | On Loan: —       |
| Air Lease Corp                            | Air Lease Corp                            | CUSIP: 00912X302<br>LEI: 5493004NW4M4P8TMMK63 | Long             | EC               | CORP              | US        |      9927 | NS      | $571894.47    | 1.92%             |  |  |  | No            | 1                  | On Loan: No      |
| Alcoa Corp                                | Alcoa Corp                                | CUSIP: 013872106<br>LEI: 549300T12EZ1F6PWWU29 | Long             | EC               | CORP              | US        |      8598 | NS      | $230168.46    | 0.77%             |  |  |  | No            | 1                  | On Loan: No      |
| Arcosa Inc                                | Arcosa Inc                                | CUSIP: 039653100<br>LEI: 549300WFHLTCZV7D6V29 | Long             | EC               | CORP              | US        |      3315 | NS      | $285985.05    | 0.96%             |  |  |  | No            | 1                  | On Loan: No      |
| Ashland Inc                               | Ashland Inc                               | CUSIP: 044186104<br>LEI: 529900E4L9R04SB8HB11 | Long             | EC               | CORP              | US        |      5504 | NS      | $272503.04    | 0.91%             |  |  |  | No            | 1                  | On Loan: No      |
| BKV Corp                                  | BKV Corp                                  | CUSIP: 05603J108<br>LEI: 549300S3T4Z01TRFU656 | Long             | EC               | CORP              | US        |     17503 | NS      | $376314.50    | 1.26%             |  |  |  | No            | 1                  | On Loan: —       |
| Bath & Body Works Inc                     | Bath & Body Works Inc                     | CUSIP: 070830104<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | EC               | CORP              | US        |      7702 | NS      | $216580.24    | 0.73%             |  |  |  | No            | 1                  | On Loan: No      |
| BGC Group Inc                             | BGC Group Inc                             | CUSIP: 088929104<br>LEI: 2549001IGRCG4F0RLD36 | Long             | EC               | CORP              | US        |     71563 | NS      | $664104.64    | 2.23%             |  |  |  | No            | 1                  | On Loan: No      |
| Black Hills Corp                          | Black Hills Corp                          | CUSIP: 092113109<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | EC               | CORP              | US        |      5806 | NS      | $339476.82    | 1.14%             |  |  |  | No            | 1                  | On Loan: No      |
| BlackBerry Ltd                            | BlackBerry Ltd                            | CUSIP: 09228F103<br>LEI: 549300HJD8NEGT71RF07 | Long             | EC               | CORP              | CA        |     26403 | NS      | $104555.88    | 0.35%             |  |  |  | No            | 1                  | On Loan: —       |
| BrightView Holdings Inc                   | BrightView Holdings Inc                   | CUSIP: 10948C107<br>LEI: 549300F8QN8YHVI7L866 | Long             | EC               | CORP              | US        |     30653 | NS      | $477573.74    | 1.60%             |  |  |  | No            | 1                  | On Loan: No      |
| Phreesia Inc                              | Phreesia Inc                              | CUSIP: 71944F106<br>LEI: 5493000HHF8NU4QOCG53 | Long             | EC               | CORP              | US        |     12760 | NS      | $312492.40    | 1.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Brixmor Property Group Inc                | Brixmor Property Group Inc                | CUSIP: 11120U105<br>LEI: 5299007UXW6Y0W2EGZ95 | Long             | EC               | CORP              | US        |     23946 | NS      | $608467.86    | 2.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Broadstone Net Lease Inc                  | Broadstone Net Lease Inc                  | CUSIP: 11135E203<br>LEI: 549300U8D7PT70B49V21 | Long             | EC               | CORP              | US        |     23794 | NS      | $378562.54    | 1.27%             |  |  |  | No            | 1                  | On Loan: No      |
| Atlas Energy Solutions Inc                | Atlas Energy Solutions Inc                | CUSIP: 642045108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5680 | NS      | $69012.00     | 0.23%             |  |  |  | No            | 1                  | On Loan: —       |
| Axis Capital Holdings Ltd                 | Axis Capital Holdings Ltd                 | CUSIP: N/A<br>LEI: 635400VD2NQBYAHMEM55       | Long             | EC               | CORP              | BM        |      2888 | NS      | $299774.40    | 1.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Popular Inc                               | Popular Inc                               | CUSIP: 733174700<br>LEI: 5493008CARDZMVQ3LO89 | Long             | EC               | CORP              | PR        |      3306 | NS      | $342270.18    | 1.15%             |  |  |  | No            | 1                  | On Loan: No      |
| Portland General Electric Co              | Portland General Electric Co              | CUSIP: 736508847<br>LEI: GJOUP9M7C39GLSK9R870 | Long             | EC               | CORP              | US        |     12526 | NS      | $531102.40    | 1.78%             |  |  |  | No            | 1                  | On Loan: No      |
| Primerica Inc                             | Primerica Inc                             | CUSIP: 74164M108<br>LEI: 254900621R686KJR7022 | Long             | EC               | CORP              | US        |       268 | NS      | $72520.80     | 0.24%             |  |  |  | No            | 1                  | On Loan: No      |
| NCR Voyix Corp                            | NCR Voyix Corp                            | CUSIP: 62886E108<br>LEI: 549300YKTY8JX1DV2R67 | Long             | EC               | CORP              | US        |     42456 | NS      | $470837.04    | 1.58%             |  |  |  | No            | 1                  | On Loan: —       |
| NV5 Global Inc                            | NV5 Global Inc                            | CUSIP: 62945V109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6840 | NS      | $151164.00    | 0.51%             |  |  |  | No            | 1                  | On Loan: No      |
| National Bank Holdings Corp               | National Bank Holdings Corp               | CUSIP: 633707104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10504 | NS      | $379719.60    | 1.27%             |  |  |  | No            | 1                  | On Loan: No      |
| Newmark Group Inc                         | Newmark Group Inc                         | CUSIP: 65158N102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23703 | NS      | $260970.03    | 0.87%             |  |  |  | No            | 1                  | On Loan: —       |
| Northwestern Energy Group Inc             | Northwestern Energy Group Inc             | CUSIP: 668074305<br>LEI: 254900N1WG46G1VMDM34 | Long             | EC               | CORP              | US        |      6818 | NS      | $377239.94    | 1.26%             |  |  |  | No            | 1                  | On Loan: No      |
| Prosperity Bancshares Inc                 | Prosperity Bancshares Inc                 | CUSIP: 743606105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6871 | NS      | $478565.15    | 1.60%             |  |  |  | No            | 1                  | On Loan: No      |
| SLM Corp                                  | SLM Corp                                  | CUSIP: 78442P106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8522 | NS      | $275857.14    | 0.92%             |  |  |  | No            | 1                  | On Loan: No      |
| Silicon Motion Technology Corp            | Silicon Motion Technology Corp            | CUSIP: 82706C108<br>LEI: 5299005RBVBZQJTYFC89 | Long             | EC               | CORP              | TW        |     11706 | NS      | $716407.20    | 2.40%             |  |  |  | No            | 1                  | On Loan: No      |
| Nomad Foods Ltd                           | Nomad Foods Ltd                           | CUSIP: N/A<br>LEI: 5493000ZZ1837DS2SI43       | Long             | EC               | CORP              | GB        |     15940 | NS      | $278950.00    | 0.93%             |  |  |  | No            | 1                  | On Loan: —       |
| Scorpio Tankers Inc                       | Scorpio Tankers Inc                       | CUSIP: N/A<br>LEI: 549300NVJUH16NXG8K87       | Long             | EC               | CORP              | MC        |     11110 | NS      | $441511.40    | 1.48%             |  |  |  | No            | 1                  | On Loan: No      |

### Signature

**Date Signed:** 2025-07-21

**Name of Applicant:** RBB Fund, Inc.

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

**Name of Signer:** RBB Fund, Inc.

**Title:** CFO COO Secretary