# EDGAR Filing Document

**Accession Number:** 0001272950
**File Stem:** 0001752724-23-049560
**Filing Date:** 2023-3
**Character Count:** 106718
**Document Hash:** 7d1b1e92f847f2814f05acb87d017745
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-049560.hdr.sgml**: 20230301

**ACCESSION NUMBER**: 0001752724-23-049560

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221230

**FILED AS OF DATE**: 20230301

**DATE AS OF CHANGE**: 20230301

**PERIOD START**: 20230930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** RBC FUNDS TRUST
- **CENTRAL INDEX KEY:** 0001272950
- **IRS NUMBER:** 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:** 23691120

**BUSINESS ADDRESS:**
- **STREET 1:** 50 SOUTH SIXTH STREET
- **STREET 2:** SUITE 2350
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55402
- **BUSINESS PHONE:** 612-313-1341

**MAIL ADDRESS:**
- **STREET 1:** 50 SOUTH SIXTH STREET
- **STREET 2:** SUITE 2350
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55402

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

## Series and Classes Contracts Data

### RBC BlueBay Core Plus Bond Fund (Series ID: S000074159)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000231739 | Class A      | RCPAX           |
| C000231740 | Class R6     | RCPRX           |
| C000231741 | Class I      | RCPIX           |

## Nport-Ex

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Core Plus Bond Fund

------

**December 31, 2022 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Principal<br>Amount** |  | **Value** |
|  **Corporate Bonds — 49.11%** | **Corporate Bonds — 49.11%** |  |
|  **Australia — 1.16%** | **Australia — 1.16%** |  |
| $230000 | Australia & New Zealand Banking Group Ltd., 6.74%, 12/8/32(a) | $233167 |
| 160000 | Santos Finance Ltd., 3.65%, 4/29/31(b) | 127822 |
| 160000 | South32 Treasury Ltd., 4.35%, 4/14/32(a) | 137235 |
|  |  | 498224 |
|  **Belgium — 0.28%** | **Belgium — 0.28%** |  |
| 121000 | Anheuser-Busch InBev Worldwide, Inc., 5.55%, 1/23/49 | 120593 |
|  **Canada — 1.01%** | **Canada — 1.01%** |  |
| 190000 | Bank of Nova Scotia (The), 4.59%, 5/4/37(c) | 161140 |
| 173000 | Rogers Communications, Inc., 4.55%, 3/15/52(a) | 135213 |
| 144000 | Toronto-Dominion Bank (The), GMTN, 4.46%, 6/8/32 | 137068 |
|  |  | 433421 |
|  **Chile — 0.42%** | **Chile — 0.42%** |  |
| 260000 | Empresa de los Ferrocarriles del Estado, 3.83%, 9/14/61(b) | 181513 |
|  **France — 1.11%** | **France — 1.11%** |  |
|  200,000(d) | Electricite de France SA, 3.00%, (b),(c),(e) | 174488 |
|  100,000(f) | Electricite de France SA, EMTN, 5.88%, (b),(c),(e) | 98896 |
| 200000 | Societe Generale SA, 9.38%, (a),(c),(e) | 205133 |
|  |  | 478517 |
|  **Germany — 1.23%** | **Germany — 1.23%** |  |
|  200,000(d) | Commerzbank AG, 6.13%, (b),(c),(e) | 198779 |
|  200,000(d) | Deutsche Bank AG, EMTN, 1.75%, 11/19/30(b),(c) | 167489 |
|  200,000(d) | Deutsche Bank AG, 4.63%, (b),(c),(e) | 162462 |
|  |  | 528730 |
|  **Ireland — 1.32%** | **Ireland — 1.32%** |  |
| 220000 | AerCap Ireland Capital DAC / AerCap Global Aviation Trust, 4.63%, 10/15/27 | 204714 |
| 160000 | Avolon Holdings Funding Ltd., 3.25%, 2/15/27(a) | 137522 |
| 230000 | Avolon Holdings Funding Ltd., 5.13%, 10/1/23(a) | 227312 |
|  |  | 569548 |
|  **Italy — 1.90%** | **Italy — 1.90%** |  |
| 450000 | Intesa Sanpaolo SpA, 8.25%, 11/21/33(a),(c) | 456404 |
| 200000 | UniCredit SpA, 3.13%, 6/3/32(a),(c) | 151491 |
|  200,000(d) | UniCredit SpA, 7.50%, (b),(c),(e) | 208033 |
|  |  | 815928 |
|  **Japan — 3.14%** | **Japan — 3.14%** |  |
| 220000 | Mitsubishi UFJ Financial Group, Inc., 5.13%, 7/20/33(c) | 210405 |
| 380000 | Mizuho Financial Group, Inc., 2.65%, 5/22/26(c) | 353008 |

---

**1** 

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Core Plus Bond Fund (cont.)

------

**December 31, 2022 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Principal<br>Amount** |  | **Value** |
| $230000 | Nissan Motor Co. Ltd., 4.35%, 9/17/27(a) | $208660 |
| 220000 | Nissan Motor Co. Ltd., 4.81%, 9/17/30(a) | 186583 |
| 200000 | Nomura Holdings, Inc., 5.61%, 7/6/29 | 196610 |
| 210000 | Renesas Electronics Corp., 1.54%, 11/26/24(a) | 192422 |
|  |  | 1347688 |
|  **Luxembourg — 2.12%** | **Luxembourg — 2.12%** |  |
| 915000 | ArcelorMittal SA, 6.80%, 11/29/32 | 911518 |
|  **Norway — 0.72%** | **Norway — 0.72%** |  |
| 300000 | Var Energi ASA, 8.00%, 11/15/32(a) | 308905 |
|  **Portugal — 0.72%** | **Portugal — 0.72%** |  |
| 300000 | EDP Finance BV, 6.30%, 10/11/27(a) | 307687 |
|  **South Africa — 0.41%** | **South Africa — 0.41%** |  |
| 200000 | AngloGold Ashanti Holdings Plc, 3.75%, 10/1/30 | 174298 |
|  **Spain — 0.42%** | **Spain — 0.42%** |  |
|  200,000(d) | Abertis Infraestructuras Finance BV, 3.25%, (b),(c),(e) | 180444 |
|  **Switzerland — 3.69%** | **Switzerland — 3.69%** |  |
| 250000 | Alcon Finance Corp., 5.38%, 12/6/32(a) | 252288 |
| 340000 | Alcon Finance Corp., 5.75%, 12/6/52(a) | 344910 |
| 250000 | Credit Suisse Group AG, 3.09%, 5/14/32(a),(c) | 173561 |
| 250000 | Credit Suisse Group AG, 3.87%, 1/12/29(b),(c) | 201201 |
| 500000 | Credit Suisse Group AG, 6.54%, 8/12/33(a),(c) | 438198 |
| 200000 | Credit Suisse Group AG, 9.75%, (b),(c),(e) | 175221 |
|  |  | 1585379 |
|  **United Kingdom — 0.87%** | **United Kingdom — 0.87%** |  |
| 200000 | HSBC Holdings Plc, 4.76%, 6/9/28(c) | 189339 |
| 200000 | HSBC Holdings Plc, 5.40%, 8/11/33(c) | 185745 |
|  |  | 375084 |
|  **United States — 28.59%** | **United States — 28.59%** |  |
| 153000 | Aircastle Ltd., 2.85%, 1/26/28(a) | 125660 |
| 156000 | American Tower Corp., REIT, 4.05%, 3/15/32 | 139517 |
| 165000 | AT&T, Inc., 2.55%, 12/1/33 | 126885 |
| 220000 | AT&T, Inc., 3.65%, 9/15/59 | 148932 |
| 465000 | Athene Global Funding, (Secured Overnight Financing Average Index + 0.700%), 4.90%, 5/24/24(a),(g) | 456219 |
| 260000 | Bank of America Corp., 2.48%, 9/21/36(c) | 191676 |
| 230000 | Bank of America Corp., 4.57%, 4/27/33(c) | 210737 |
| 230000 | Bank of America Corp., 5.02%, 7/22/33(c) | 218220 |
| 186000 | Broadcom, Inc., 2.60%, 2/15/33(a) | 139424 |
| 321000 | Broadcom, Inc., 4.93%, 5/15/37(a) | 280565 |

---

**2** 

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Core Plus Bond Fund (cont.)

------

**December 31, 2022 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Principal<br>Amount** |  | **Value** |
| $250000 | Charter Communications Operating LLC / Charter Communications Operating Capital, 3.85%, 4/1/61 | $144441 |
| 700000 | Citigroup, Inc., 0.98%, 5/1/25(c) | 655289 |
| 220000 | Citigroup, Inc., 3.06%, 1/25/33(c) | 177640 |
| 250000 | Comerica Bank, 5.33%, 8/25/33(c) | 240095 |
| 120000 | Corebridge Financial, Inc., 3.85%, 4/5/29(a) | 109321 |
| 228000 | Discover Financial Services, 6.70%, 11/29/32 | 232021 |
| 140000 | Energy Transfer LP, 5.55%, 2/15/28 | 138721 |
| 183000 | Energy Transfer LP, 5.75%, 2/15/33 | 179504 |
| 180000 | Equinix, Inc., REIT, 3.90%, 4/15/32 | 159431 |
| 150000 | Essential Utilities, Inc., 5.30%, 5/1/52 | 141172 |
| 180000 | Fifth Third Bancorp, 6.36%, 10/27/28(c) | 185322 |
| 170000 | Flex Intermediate Holdco LLC, 4.32%, 12/30/39(a) | 121808 |
| 200000 | GE HealthCare Technologies, Inc., 5.86%, 3/15/30(a) | 204941 |
| 200000 | GE HealthCare Technologies, Inc., 5.91%, 11/22/32(a) | 207509 |
| 133000 | General Motors Co., 5.40%, 4/1/48 | 109404 |
| 150000 | General Motors Financial Co., Inc., 4.30%, 4/6/29 | 134649 |
| 110000 | Global Payments, Inc., 5.30%, 8/15/29 | 106762 |
| 236000 | Global Payments, Inc., 5.95%, 8/15/52 | 214455 |
| 406000 | Goldman Sachs Group, Inc. (The), 2.38%, 7/21/32(c) | 314729 |
| 230000 | HCA, Inc., 4.63%, 3/15/52(a) | 180123 |
| 142000 | HP, Inc., 4.00%, 4/15/29 | 130015 |
| 250000 | Huntington National Bank (The), 5.65%, 1/10/30 | 251028 |
| 110000 | Illumina, Inc., 5.75%, 12/13/27 | 111448 |
| 300000 | Intel Corp., 4.90%, 8/5/52 | 266526 |
| 140000 | JPMorgan Chase & Co., 4.57%, 6/14/30(c) | 132197 |
| 190000 | JPMorgan Chase & Co., 4.91%, 7/25/33(c) | 180747 |
| 170000 | Keurig Dr Pepper, Inc., 4.50%, 4/15/52 | 142453 |
| 200000 | Kinder Morgan, Inc., 4.80%, 2/1/33 | 185483 |
| 175000 | KLA Corp., 5.25%, 7/15/62 | 168701 |
| 259000 | Kyndryl Holdings, Inc., 3.15%, 10/15/31 | 173070 |
| 200000 | Kyndryl Holdings, Inc., 4.10%, 10/15/41 | 118143 |
| 160000 | Meta Platforms, Inc., 3.85%, 8/15/32 | 141858 |
| 179000 | Meta Platforms, Inc., 4.45%, 8/15/52 | 143298 |
| 1000000 | Morgan Stanley, GMTN, 0.79%, 1/22/25(c) | 947034 |
| 260000 | Morgan Stanley, 2.48%, 9/16/36(c) | 189653 |
| 280000 | Morgan Stanley, GMTN, 4.89%, 7/20/33(c) | 262970 |
|  235,000(f) | Morgan Stanley, 5.79%, 11/18/33(c) | 284026 |
| 180000 | Oracle Corp., 4.10%, 3/25/61 | 125688 |
| 210000 | Oracle Corp., 6.15%, 11/9/29 | 218321 |
| 200000 | Royalty Pharma Plc, 3.55%, 9/2/50 | 128573 |
| 210000 | Santander Holdings USA, Inc., 4.26%, 6/9/25(c) | 203516 |
| 200000 | SVB Financial Group, 4.57%, 4/29/33(c) | 175970 |
|  140,000(d) | Upjohn Finance BV, 1.91%, 6/23/32(b) | 113583 |
| 170000 | VICI Properties LP, REIT, 4.95%, 2/15/30 | 160046 |
| 130000 | Warnermedia Holdings, Inc., 3.43%, 3/15/24(a) | 126173 |
| 145000 | Warnermedia Holdings, Inc., 4.05%, 3/15/29(a) | 125673 |
| 188000 | Warnermedia Holdings, Inc., 5.05%, 3/15/42(a) | 144572 |

---

**3** 

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Core Plus Bond Fund (cont.)

------

**December 31, 2022 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Principal<br>Amount** |  | **Value** |
| $410000 | Warnermedia Holdings, Inc., 5.14%, 3/15/52(a) | $301057 |
| 440000 | Wells Fargo & Co., GMTN, 4.81%, 7/25/28(c) | 428925 |
| 220000 | Wells Fargo & Co., GMTN, 4.90%, 7/25/33(c) | 208342 |
|  |  | 12284261 |
|  **Total Corporate Bonds**<br> (Cost $23,446,708) | **Total Corporate Bonds**<br> (Cost $23,446,708) | **21101738** |
|  **U.S. Government Agency Backed Mortgages — 23.62%** | **U.S. Government Agency Backed Mortgages — 23.62%** |  |
|  **United States — 23.62%** | **United States — 23.62%** |  |
| 725000 | Fannie Mae, (TBA), 3.00%, 1/1/53 | 635713 |
| 3000000 | Fannie Mae, (TBA), 2.50%, 1/1/53 | 2537412 |
| 3800000 | Fannie Mae, (TBA), 2.00%, 1/1/53 | 3092288 |
| 893934 | Fannie Mae, Pool #BT8271, 4.00%, 7/1/52 | 839427 |
| 194315 | Fannie Mae, Pool #CB4766, 5.00%, 9/1/52 | 193925 |
| 571255 | Fannie Mae, Pool #CB4768, 5.00%, 9/1/52 | 573829 |
| 224560 | Fannie Mae, Pool #BT7932, 5.50%, 10/1/52 | 228778 |
| 450000 | Fannie Mae, Pool #CB5344, 6.50%, 12/1/52 | 466784 |
| 99800 | Fannie Mae, Pool #CB4969, 5.50%, 10/1/52 | 101620 |
| 893836 | Freddie Mac, Pool #QE6931, 4.50%, 7/1/52 | 864754 |
| 447102 | Freddie Mac, Pool #RA7718, 4.50%, 7/1/52 | 431084 |
| 175000 | Freddie Mac, Pool #QF4133, 6.00%, 11/1/52 | 180915 |
|  |  | 10146529 |
|  **Total U.S. Government Agency Backed Mortgages**<br> (Cost $10,451,314) | **Total U.S. Government Agency Backed Mortgages**<br> (Cost $10,451,314) | **10146529** |
| **Shares** |  |  |
|  **Collateralized Mortgage Obligations — 16.39%** | **Collateralized Mortgage Obligations — 16.39%** |  |
|  **United States — 16.39%** | **United States — 16.39%** |  |
| 330000 | AREIT Trust, Series 2022-CRE6, Class B, (Secured Overnight Financing Rate 30 Day Average + 1.850%), 5.68%, 1/16/37(a),(g) | 311165 |
| 13043 | Bellemeade Re Ltd., Series 2019-1A, Class M1B, (LIBOR USD 1-Month + 1.750%), 6.14%, 3/25/29(a),(g) | 13038 |
| 41725 | Bellemeade Re Ltd., Series 2018-3A, Class M1B, (LIBOR USD 1-Month + 1.850%), 6.24%, 10/25/28(a),(g) | 41691 |
| 370686 | BX Commercial Mortgage Trust, Series 2021-XL2, Class D, (LIBOR USD 1-Month + 1.397%), 5.72%, 10/15/38(a),(g) | 348679 |
| 223503 | BX Commercial Mortgage Trust, Series 2021-21M, Class D, (LIBOR USD 1-Month + 1.426%), 5.74%, 10/15/36(a),(g) | 205419 |
| 500000 | BX Commercial Mortgage Trust, Series 2022-CSMO, Class C, (Term SOFR 1M + 3.889%), 8.22%, 6/15/27(a),(g) | 494470 |
| 400000 | BX Mortgage Trust, Series 2022-MVRK, Class D, (Term SOFR 1M + 2.864%), 7.19%, 3/15/39(a),(g) | 376866 |
| 354763 | BX Trust, Series 2022-IND, Class D, (Term SOFR 1M + 2.839%), 7.17%, 4/15/37(a),(g) | 334710 |
| 600000 | Citigroup Commercial Mortgage Trust, Series 2013-GC11, Class D, 4.41%, 4/10/46(a),(h) | 585373 |

---

**4** 

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Core Plus Bond Fund (cont.)

------

**December 31, 2022 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value** |
| $207000 | Connecticut Avenue Securities Trust, Series 2022-R01, Class 1M2, (Secured Overnight Financing Rate 30 Day Average + 1.900%), 5.83%, 12/25/41(a),(g) | $193569 |
| 88000 | Connecticut Avenue Securities Trust, Series 2022-R04, Class 1M2, (Secured Overnight Financing Rate 30 Day Average + 3.100%), 7.03%, 3/25/42(a),(g) | 87198 |
| 625000 | Credit Suisse Mortgage Capital Certificates, Series 2020-SPT1, Class A2, 2.23%, 4/25/65(a),(h) | 580790 |
| 688190 | Eagle RE Ltd., Series 2019-1, Class M1B, (LIBOR USD 1-Month + 1.800%), 6.19%, 4/25/29(a),(g) | 673669 |
| 263278 | Fannie Mae Connecticut Avenue Securities, Series 2021-R02, Class 2M1, (Secured Overnight Financing Rate 30 Day Average + 0.900%), 4.83%, 11/25/41(a),(g) | 256084 |
| 196458 | Freddie Mac STACR REMIC Trust, Series 2021-DNA6, Class M2, (Secured Overnight Financing Rate 30 Day Average + 1.500%), 5.43%, 10/25/41(a),(g) | 184919 |
| 460000 | Freddie Mac STACR REMIC Trust, Series 2022-DNA2, Class M1B, (Secured Overnight Financing Rate 30 Day Average + 2.400%), 6.33%, 2/25/42(a),(g) | 447246 |
| 250000 | HONO Mortgage Trust, Series 2021-LULU, Class A, (LIBOR USD 1-Month + 1.150%), 5.47%,<br>10/15/36(a),(g) | 239859 |
| 322699 | MFA Trust, Series 2020-NQM3, Class A3, 1.63%, 1/26/65(a),(h) | 284929 |
| 400000 | SMRT, Series 2022-MINI, Class D, (Term SOFR 1M + 1.950%), 6.29%, 1/15/39(a),(g) | 371864 |
| 400000 | Verus Securitization Trust, Series 2019-INV3, Class M1, 3.28%, 11/25/59(a),(h) | 346220 |
| 400000 | Verus Securitization Trust, Series 2020-4, Class M1, 3.29%, 5/25/65(a),(h) | 335657 |
| 400000 | Vista Point Securitization Trust, Series 2020-2, Class M1, 3.40%, 4/25/65(a),(h) | 328157 |
|  **Total Collateralized Mortgage Obligations**<br> (Cost $7,528,018) | **Total Collateralized Mortgage Obligations**<br> (Cost $7,528,018) | **7041572** |
|  **Asset Backed Securities — 12.60%** | **Asset Backed Securities — 12.60%** |  |
|  **Cayman Islands — 1.23%** | **Cayman Islands — 1.23%** |  |
| 300000 | OZLM VIII Ltd., Series 2014-8A, Class A2R3, (LIBOR USD 3-Month + 1.650%), 5.73%, 10/17/29(a),(g) | 289470 |
| 250000 | TCW CLO Ltd., Series 2018-1A, Class A2RB, (LIBOR USD 3-Month + 1.400%), 5.76%, 4/25/31(a),(g) | 238075 |
|  |  | 527545 |
|  **United Kingdom — 0.57%** | **United Kingdom — 0.57%** |  |
| 250000 | Newday Funding Master Issuer Plc, Series 2021-3A, Class A2, (SOFR RATE + 1.000%), 5.20%,<br>11/15/29(a),(g) | 244110 |
|  **United States — 10.80%** | **United States — 10.80%** |  |
| 500000 | American Credit Acceptance Receivables Trust, Series 2020-1, Class E, 3.32%, 3/13/26(a) | 484999 |
| 500000 | Carvana Auto Receivables Trust, Series 2021-N4, Class D, 2.30%, 9/11/28 | 448708 |
| 500000 | Diamond Issuer, Series 2021-1A, Class B, 2.70%, 11/20/51(a) | 407175 |

---

**5** 

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Core Plus Bond Fund (cont.)

------

**December 31, 2022 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value** |
| $280000 | Drive Auto Receivables Trust, Series 2021-2, Class D, 1.39%, 3/15/29 | $257815 |
| 450000 | Exeter Automobile Receivables Trust, Series 2021-4A, Class D, 1.96%, 1/17/28 | 411463 |
| 200000 | Exeter Automobile Receivables Trust, Series 2022-5A, Class B, 5.97%, 3/15/27 | 199909 |
| 500000 | GM Financial Automobile Leasing Trust, Series 2021-1, Class D, 1.01%, 7/21/25 | 483427 |
| 400000 | GM Financial Automobile Leasing Trust, Series 2022-3, Class B, 4.90%, 8/20/26 | 393779 |
| 181240 | Jack in the Box Funding LLC, Series 2022-1A, Class A2I, 3.45%, 2/26/52(a) | 154987 |
| 243000 | Jimmy Johns Funding LLC, Series 2017-1A, Class A2II, 4.85%, 7/30/47(a) | 224493 |
| 282149 | MVW LLC, Series 2021-2A, Class B, 1.83%, 5/20/39(a) | 253004 |
| 360000 | Progress Residential Trust, Series 2020-SFR2, Class D, 3.87%, 6/17/37(a) | 332765 |
| 215000 | Progress Residential Trust, Series 2020-SFR2, Class E, 5.12%, 6/17/37(a) | 202280 |
| 400000 | Santander Drive Auto Receivables Trust, Series 2022-4, Class B, 4.42%, 11/15/27 | 388585 |
|  |  | 4643389 |
|  **Total Asset Backed Securities**<br> (Cost $5,844,177) | **Total Asset Backed Securities**<br> (Cost $5,844,177) | **5415044** |
| **Principal<br>Amount** |  |  |
|  **Bank Loans — 5.99%** | **Bank Loans — 5.99%** |  |
|  **Ireland — 2.07%** | **Ireland — 2.07%** |  |
| 394962 | Avolon US LLC, 1st Lien Term Loan B5, (LIBOR 1-Month + 2.25%), 6.60%, 12/1/27(g) | 393623 |
| 500000 | Setanta Aircraft Leasing DAC, 1st Lein Term Loan B, (LIBOR 3-Month + 2.00%), 5.67%, 11/5/28(g) | 496750 |
|  |  | 890373 |
|  **United States — 3.92%** | **United States — 3.92%** |  |
| 500000 | Entegris, Inc., 1st Lein Term Loan B, (Term SOFR 1M + 3.00%), 5.89%, 7/6/29(g) | 498125 |
| 400000 | Hilton Worldwide Finance LLC, 1st Lien Term Loan B2, (LIBOR 1-Month + 1.75%), 5.77%, 6/21/26(g) | 398408 |
| 394885 | Sensata Technologies, Inc., 1st Lein Term Loan B, (LIBOR 1-Month + 1.75%), 5.87%, 9/20/26(g) | 392417 |
| 394987 | Univar Solutions USA Inc/Washington, 1st Lein Term Loan B6, (LIBOR 1-Month + 2.00%), 2.10%, 6/3/28(g) | 392847 |
|  |  | 1681797 |
|  **Total Bank Loans**<br> (Cost $2,583,152) | **Total Bank Loans**<br> (Cost $2,583,152) | **2572170** |

---

**6** 

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Core Plus Bond Fund (cont.)

------

**December 31, 2022 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Principal<br>Amount** |  | **Value** |
|  **Foreign Government Bonds — 0.23%** | **Foreign Government Bonds — 0.23%** |  |
|  **Mexico — 0.23%** | **Mexico — 0.23%** |  |
|  130,000(d) | Mexico Government International Bond, 4.00%, 3/15/2115 | $96793 |
|  **Total Foreign Government Bonds**<br> (Cost $164,218) | **Total Foreign Government Bonds**<br> (Cost $164,218) | **96793** |
| **Shares** |  |  |
|  **Investment Company — 4.06%** | **Investment Company — 4.06%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1744250 | U.S. Government Money Market Fund, RBC Institutional Class 1 (i) | 1744250 |
|  **Total Investment Company**<br> (Cost $1,744,250) | **Total Investment Company**<br> (Cost $1,744,250) | **1744250** |
|  **Total Investments**<br> (Cost $51,761,837) — 112.00% | **Total Investments**<br> (Cost $51,761,837) — 112.00% | $**48118096** |
|  **Liabilities in excess of other assets — (12.00)%** | **Liabilities in excess of other assets — (12.00)%** | **(5154209)** |
|  **NET ASSETS — 100.00%** | **NET ASSETS — 100.00%** | $**42963887** |

---

------

(a) 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.

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

(c) 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.

(d) Principal amount denoted in Euros.

(e) Perpetual security with no stated maturity date.

(f) Principal amount denoted in British Pounds.

(g) Floating rate note. Rate shown is as of report date.

(h) Variable or floating rate security, which interest rate adjusts periodically based on changes in current
interest rates and prepayments on the underlying pool of assets. Rate shown is the rate in effect as of period end.

(i) Affiliated investment.

**7** 

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Core Plus Bond Fund (cont.)

------

**December 31, 2022 (Unaudited)** 

**Foreign currency exchange contracts as of December 31, 2022:** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Counterparty** | **Settlement<br>Date** | **Value/Unrealized<br>Appreciation<br>(Depreciation)** |
| EUR | 632000 | GBP | 548055 | Citibank N.A. | 1/19/23 | $14535 |
| EUR | 160000 | NOK | 1672082 | Citibank N.A. | 1/19/23 | 694 |
| EUR | 550000 | USD | 581966 | Citibank N.A. | 1/19/23 | 7610 |
| JPY | 31099950 | USD | 210000 | Citibank N.A. | 1/19/23 | 27609 |
| JPY | 31123050 | USD | 210000 | Citibank N.A. | 1/19/23 | 27785 |
|  |  |  |  |  |  | $78233 |
| GBP | 300000 | EUR | 343242 | Citibank N.A. | 1/19/23 | $(5053) |
| NOK | 4096773 | EUR | 394017 | Citibank N.A. | 1/19/23 | (3845) |
| NOK | 2199837 | EUR | 210000 | Citibank N.A. | 1/19/23 | (377) |
| USD | 415622 | EUR | 400000 | Citibank N.A. | 1/19/23 | (13160) |
| USD | 1608940 | EUR | 1627497 | Citibank N.A. | 1/19/23 | (135665) |
| USD | 320000 | GBP | 268344 | Citibank N.A. | 1/19/23 | (4595) |
| USD | 666230 | GBP | 577629 | Citibank N.A. | 1/19/23 | (32484) |
| USD | 410000 | JPY | 59638805 | Citibank N.A. | 1/19/23 | (45651) |
|  |  |  |  |  |  | $(240830) |
| **Total** |  |  |  |  |  | $(162597) |

---

**Financial futures contracts as of December 31, 2022:** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Long Position** | **Number of<br>Contracts** | **Expiration<br>Date** | **Value/Unrealized<br>Appreciation<br>(Depreciation)** | **Notional**<br> **Value** | **Clearinghouse** |
|  30 Year U.S. Treasury Bond | 9 | March 2023 | $117 | USD $1,128,094 | Morgan Stanley & Co. LLC |
|  30 Year U.S. Ultra Treasury Bond | 16 | March 2023 | (32712) | USD 2,149,000 | Morgan Stanley & Co. LLC |
|  Five Year U.S. Treasury Note | 29 | March 2023 | (2882) | USD 3,129,961 | Morgan Stanley & Co. LLC |
|  Two Year U.S. Treasury Note | 8 | March 2023 | (1042) | USD 1,640,625 | Morgan Stanley & Co. LLC |
|  **Total** |  |  | $(36519) |  |  |

---

**8** 

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Core Plus Bond Fund (cont.)

------

**December 31, 2022 (Unaudited)** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Short Position** | **Number of<br>Contracts** | **Expiration<br>Date** | **Value/Unrealized<br>Appreciation** | **Notional**<br>**Value** | **Notional**<br>**Value** | **Clearinghouse** |
|  10 Year Japan Treasury Bond | 1 | March 2023 | $20611 | JPY | $1108351 | Morgan Stanley & Co. LLC |
|  10 Year U.S. Ultra Treasury Bond | 25 | March 2023 | 42919 | USD | 2957031 | Morgan Stanley & Co. LLC |
|  30 Year Euro-Buxl | 1 | March 2023 | 26707 | EUR | 144768 | Morgan Stanley & Co. LLC |
|  5 Year Euro-Bobl | 5 | March 2023 | 21190 | EUR | 619523 | Morgan Stanley & Co. LLC |
|  Euro-Schatz | 1 | March 2023 | 1412 | EUR | 112847 | Morgan Stanley & Co. LLC |
|  Long Gilt Future | 2 | March 2023 | 16875 | GBP | 241548 | Morgan Stanley & Co. LLC |
|  Ten Year U.S. Treasury Note | 8 | March 2023 | 12998 | USD | 898375 | Morgan Stanley & Co. LLC |
|  **Total** |  |  | $142712 |  |  |  |

---

**Interest rate swaps as of December 31, 2022:** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fixed<br>Rate** | **Floating Rate** | **Payment<br>Frequency** | **Counterparty** | **Expiration<br>Date** | **Notional<br>Amount (000)** | **Notional<br>Amount (000)** | **Value/Unrealized<br>Appreciation<br>(Depreciation)** |
| 1.65% | USD-CITILDN | Quarterly | Morgan Stanley & Co. LLC | 2/8/32 | USD | 1380 | $232629 |
| 2.71% | CNY-CITILDN | Weekly | Morgan Stanley & Co. LLC | 1/19/28 | CNH | 6335 | (3193) |
| 2.62% | CNY-STACHA | Weekly | Morgan Stanley & Co. LLC | 1/19/28 | CNH | 1647 | (1809) |
|  |  |  |  |  |  |  | $(5002) |
| **Total** |  |  |  |  |  |  | $227627 |

---

**9** 

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Core Plus Bond Fund (cont.)

------

**December 31, 2022 (Unaudited)** 

**Credit default swaps buy protection as of December 31, 2022:** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fixed<br>Rate** | **Issuer** | **Payment<br>Frequency** | **Counterparty** | **Expiration Date** | **Notional**<br>**Amount**<br>**(000)** | **Premium<br>Paid/<br>(Received)** | **Unrealized**<br>**Depreciation** | **Value** |
| 1.00% | Markit CDX IG Index, Series 39 | Quarterly | Morgan Stanley & Co. LLC | 12/20/27 | USD6,703 | $28354 | $(84384) | $(56030) |
| 1.00% | Markit CDX IG Index, Series 39 | Quarterly | Morgan Stanley & Co. LLC | 12/20/27 | USD3,990 | 17955 | (51307) | (33352) |
| **Total** |  |  |  |  |  | $46309 | $(135691) | $(89382) |

---

Abbreviations used are defined below:

Bobl - German Bundesobligationen

CNH - Chinese Yuan Renminbi

EMTN - Euro Medium Term Note

EUR - Euro

GBP - United Kingdom Pound Sterling

GMTN - Global Medium Term Note

JPY - Japanese Yen

LIBOR - London Interbank Offered Rate

NOK - Norwegian Krone

REIT - Real Estate Investment Trust

SOFR - Secured Overnight Financing Rate

TBA - To-be-announced

USD - United States Dollar

**10** 

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Core Plus Bond Fund (cont.)

------

**December 31, 2022 (Unaudited)** 

Portfolio Diversification (Unaudited)

---

| | |
|:---|:---|
| Industries | Percentage<br>of Net Assets |
|  Collateralized Mortgage Obligations | 16.39% |
|  Asset Backed Securities | 12.60% |
|  Foreign Government Bonds | 0.23% |
|  Financial | 52.73% |
|  Technology | 5.38% |
|  Consumer, Cyclical | 4.95% |
|  Consumer, Non-cyclical | 4.95% |
|  Basic Materials | 2.85% |
|  Energy | 2.47% |
|  Communications | 1.96% |
|  Industrial | 1.75% |
|  Utilities | 1.68% |
|  Other\* | (7.94)% |
|  | 100.00% |

---

\* Includes cash, Investment Company, interest and dividend receivable, pending trades and Fund share transactions, interest rate swaps, credit default swaps, financial futures contracts, foreign currency exchange contracts and accrued expenses payable.

**11**

## 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:** 50 South Sixth Street

  - **City:** Minneapolis

  - **State:** MN

  - **Foreign country:** US

  - **Zip / Postal Code:** 55402

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

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

- **a. Name of Series:** RBC BlueBay Core Plus Bond Fund

- **b. EDGAR series identifier (if any):** S000074159

- **c. LEI of Series:** 549300MEYRSOFRABUX92

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

- **a. Date of fiscal year-end:** 2023-09-30

- **b. Date as of which information is reported:** 2022-12-30

**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:** $49862978.71

**Total Liabilities:** $6899351.23

**Net Assets:** $42963627.48

**Stand-by Commitments:** $6425426.76

**Cash Not Reported:** $2855164.68

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00952390 | **1-Year:** 0.15114620 | **5-Year:** 0.50455854 | **10-Year:** 1.36766526 | **30-Year:** 0.49036212

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

- **3-Month:** 0.00074000 | **1-Year:** 0.01391849 | **5-Year:** -0.91854771 | **10-Year:** 0.33655982 | **30-Year:** 0.06058715

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000231739 | -1.82%               | 4.10%                | 0.22%                |
| Class ID C000231741 | -1.93%               | 4.12%                | 0.25%                |
| Class ID C000231740 | -1.93%               | 4.13%                | 0.26%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-713602.48              | $104523.87                                 |
| Month 2  | $-426449.87              | $2133909.41                                |
| Month 3  | $472509.50               | $-561096.30                                |

**Designated Index Information**

- **Index Name:** Bloomberg Barclays US Aggregate Index

- **Index Identifier:** LBUSTRUU

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| HILTON WORLDWIDE FINANCE                    | Hilton Worldwide Finance LLC                                                    | CUSIP: 43289DAH6<br>LEI: 549300406TN7EY0NPH20 | Long             | LON              | CORP              | US        |    400000 | PA      | $398408.00    | 0.93%             | 2026-06-21      | Floating      | 6.14%                 | No            |                  2 | On Loan: No      |
| KEURIG DR PEPPER INC                        | Keurig Dr Pepper Inc                                                            | CUSIP: 49271VAR1<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |    170000 | PA      | $142453.24    | 0.33%             | 2052-04-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2022-R01                                    | CUSIP: 20754LAB5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    207000 | PA      | $193568.57    | 0.45%             | 2041-12-25      | Floating      | 5.83%                 | No            |                  2 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD                    | Avolon Holdings Funding Ltd                                                     | CUSIP: 05401AAB7<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |    230000 | PA      | $227312.20    | 0.53%             | 2023-10-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                    | Warnermedia Holdings Inc                                                        | CUSIP: 55903VAC7<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    130000 | PA      | $126173.11    | 0.29%             | 2024-03-15      | Fixed         | 3.43%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE GROUP AG                      | Credit Suisse Group AG                                                          | CUSIP: 225401AU2<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |    250000 | PA      | $173561.05    | 0.40%             | 2032-05-14      | Fixed         | 3.09%                 | No            |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA                      | Santander Holdings USA Inc                                                      | CUSIP: 80282KBD7<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |    210000 | PA      | $203515.77    | 0.47%             | 2025-06-09      | Fixed         | 4.26%                 | No            |                  2 | On Loan: No      |
| FLEX INTERMEDIATE HOLDCO                    | Flex Intermediate Holdco LLC                                                    | CUSIP: 33939HAB5<br>LEI: 549300290TQIGM30A243 | Long             | DBT              | CORP              | US        |    170000 | PA      | $121807.64    | 0.28%             | 2039-12-30      | Fixed         | 4.32%                 | No            |                  2 | On Loan: No      |
| MITSUBISHI UFJ FIN GRP                      | Mitsubishi UFJ Financial Group Inc                                              | CUSIP: 606822CK8<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |    220000 | PA      | $210405.25    | 0.49%             | 2033-07-20      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| OSAKA EXCHANGE,INC                          | TSE Japanese 10 Year Bond s                                                     | CUSIP: 000000000<br>LEI: 3538001249AILNPRUX57 | N/A              | DIR              | CORP              | JP        |        -1 | NC      | $20611.47     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Citibank, National Association              | EUR/NOK FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-3845.08     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| UNICREDIT SPA                               | UniCredit SpA                                                                   | CUSIP: 000000000<br>LEI: 549300TRUWO2CD2G5692 | Long             | DBT              | CORP              | IT        |    200000 | PA      | $208033.03    | 0.48%             | N/A             | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Citibank, National Association              | EUR/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-135664.77   | -0.32%            |  |  |  | No            |                  2 | On Loan: No      |
| SANTOS FINANCE LTD                          | Santos Finance Ltd                                                              | CUSIP: 000000000<br>LEI: 213800BKUBSWG53XNS94 | Long             | DBT              | CORP              | AU        |    160000 | PA      | $127821.97    | 0.30%             | 2031-04-29      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                              | Morgan Stanley                                                                  | CUSIP: 000000000<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    235000 | PA      | $284025.60    | 0.66%             | 2033-11-18      | Fixed         | 5.79%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables               | Exeter Automobile Receivables Trust 2022-5                                      | CUSIP: 30167FAD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $199908.83    | 0.47%             | 2027-03-15      | Fixed         | 5.97%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR CO                             | Nissan Motor Co Ltd                                                             | CUSIP: 654744AD3<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | JP        |    220000 | PA      | $186583.06    | 0.43%             | 2030-09-17      | Fixed         | 4.81%                 | No            |                  2 | On Loan: No      |
| ANHEUSER-BUSCH INBEV WOR                    | Anheuser-Busch InBev Worldwide Inc                                              | CUSIP: 03523TBV9<br>LEI: 549300CRGMZK3K53BF92 | Long             | DBT              | CORP              | US        |    121000 | PA      | $120593.28    | 0.28%             | 2049-01-23      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Fannie Mae Connecticut Avenue Securities                                        | CUSIP: 20754KAA9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | CORP              | US        |    263278 | PA      | $256084.21    | 0.60%             | 2041-11-25      | Floating      | 4.83%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                   | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F030611<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    725000 | PA      | $635713.35    | 1.48%             | 2053-01-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ILLUMINA INC                                | Illumina Inc                                                                    | CUSIP: 452327AP4<br>LEI: SQ95QG8SR5Q56LSNF682 | Long             | DBT              | CORP              | US        |    110000 | PA      | $111448.12    | 0.26%             | 2027-12-13      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Citibank, National Association              | GBP/EUR FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $14535.01     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                         | JPMorgan Chase & Co                                                             | CUSIP: 46647PDF0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    140000 | PA      | $132197.31    | 0.31%             | 2030-06-14      | Fixed         | 4.57%                 | No            |                  2 | On Loan: No      |
| VAR ENERGI ASA                              | Var Energi ASA                                                                  | CUSIP: 92212WAE0<br>LEI: 549300LIVN3FFOJN2K47 | Long             | DBT              | CORP              | NO        |    300000 | PA      | $308904.75    | 0.72%             | 2032-11-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Eagle Re Ltd                                | Eagle RE 2019-1 Ltd                                                             | CUSIP: 269822AB8<br>LEI: 254900L82OLW9QTLJ788 | Long             | ABS-MBS          | CORP              | US        |    688190 | PA      | $673669.27    | 1.57%             | 2029-04-25      | Floating      | 6.19%                 | No            |                  2 | On Loan: No      |
| META PLATFORMS INC                          | Meta Platforms Inc                                                              | CUSIP: 30303M8H8<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |    160000 | PA      | $141858.37    | 0.33%             | 2032-08-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Vista Point Securitization Tru              | Vista Point Securitization Trust 2020-2                                         | CUSIP: 92838TAD3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    400000 | PA      | $328157.02    | 0.76%             | 2065-04-25      | Variable      | 3.40%                 | No            |                  2 | On Loan: No      |
| HP INC                                      | HP Inc                                                                          | CUSIP: 40434LAK1<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | DBT              | CORP              | US        |    142000 | PA      | $130014.70    | 0.30%             | 2029-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Trust 2022-IND                                                               | CUSIP: 05609WAL7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    354763 | PA      | $334710.23    | 0.78%             | 2037-04-15      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage               | Citigroup Commercial Mortgage Trust 2013-GC11                                   | CUSIP: 17320DAU2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    600000 | PA      | $585372.89    | 1.36%             | 2046-04-10      | Variable      | 4.41%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG                            | Deutsche Bank AG                                                                | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    200000 | PA      | $167489.65    | 0.39%             | 2030-11-19      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES LP                          | VICI Properties LP                                                              | CUSIP: 925650AC7<br>LEI: 254900X4QE7SGKQLLN38 | Long             | DBT              | CORP              | US        |    170000 | PA      | $160045.65    | 0.37%             | 2030-02-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX 2022-MVRK Mortgage Trust                                                     | CUSIP: 05610JAW9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    400000 | PA      | $376866.49    | 0.88%             | 2039-03-15      | Floating      | 7.19%                 | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT           | Eurex 30 Year Euro BUXL                                                         | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |        -1 | NC      | $26706.72     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTH32 TREASURY LTD                        | South32 Treasury Ltd                                                            | CUSIP: 84055BAA1<br>LEI: 213800HFGZMXST64GP53 | Long             | DBT              | CORP              | AU        |    160000 | PA      | $137235.38    | 0.32%             | 2032-04-14      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE                            | Societe Generale SA                                                             | CUSIP: 83370RAC2<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $205133.06    | 0.48%             | N/A             | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| Progress Residential Trust                  | Progress Residential 2020-SFR2 Trust                                            | CUSIP: 74333LAJ5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    215000 | PA      | $202279.78    | 0.47%             | 2037-06-17      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC                         | Global Payments Inc                                                             | CUSIP: 37940XAR3<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |    236000 | PA      | $214454.64    | 0.50%             | 2052-08-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust              | Carvana Auto Receivables Trust 2021-N4                                          | CUSIP: 14687HAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $448707.75    | 1.04%             | 2028-09-11      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                          | Energy Transfer LP                                                              | CUSIP: 29273VAQ3<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    183000 | PA      | $179504.48    | 0.42%             | 2033-02-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MIZUHO FINANCIAL GROUP                      | Mizuho Financial Group Inc                                                      | CUSIP: 60687YCA5<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | DBT              | CORP              | JP        |    380000 | PA      | $353008.18    | 0.82%             | 2026-05-22      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR CO                             | Nissan Motor Co Ltd                                                             | CUSIP: 654744AC5<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | JP        |    230000 | PA      | $208659.82    | 0.49%             | 2027-09-17      | Fixed         | 4.34%                 | No            |                  2 | On Loan: No      |
| Citibank, National Association              | EUR/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $7609.76      | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| AT&T INC                                    | AT&T Inc                                                                        | CUSIP: 00206RLV2<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    220000 | PA      | $148932.42    | 0.35%             | 2059-09-15      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QQ5E1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    450000 | PA      | $466784.13    | 1.09%             | 2052-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| AREIT CRE Trust                             | AREIT 2022-CRE6 Trust                                                           | CUSIP: 04002VAE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | KY        |    330000 | PA      | $311164.56    | 0.72%             | 2037-01-16      | Floating      | 5.68%                 | No            |                  2 | On Loan: No      |
| ICE FUTURES EUROPE                          | Long Gilt                                                                       | CUSIP: 000000000<br>LEI: 549300UF4R84F48NCH34 | N/A              | DIR              | CORP              | GB        |        -2 | NC      | $16874.57     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                    | IRS USD                                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DIR              | CORP              | US        |         1 | NC      | $232629.33    | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | CBOT US Long Bond                                                               | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |         9 | NC      | $116.73       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Verus Securitization Trust                  | Verus Securitization Trust 2019-INV3                                            | CUSIP: 92537MAF7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    400000 | PA      | $346220.47    | 0.81%             | 2059-11-25      | Variable      | 3.28%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                | Broadcom Inc                                                                    | CUSIP: 11135FBV2<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    321000 | PA      | $280564.59    | 0.65%             | 2037-05-15      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3133BRSW5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    175000 | PA      | $180914.73    | 0.42%             | 2052-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                    | Warnermedia Holdings Inc                                                        | CUSIP: 55903VAN3<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    188000 | PA      | $144572.20    | 0.34%             | 2042-03-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| AVOLON TLB BORROWER 1 US                    | Avolon TLB Borrower 1 US LLC                                                    | CUSIP: 05400KAH3<br>LEI: 635400O84AGITYFZQB55 | Long             | LON              | CORP              | US        |    394962 | PA      | $393623.28    | 0.92%             | 2027-12-01      | Floating      | 6.62%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                      | General Motors Financial Co Inc                                                 | CUSIP: 37045XDV5<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    150000 | PA      | $134648.52    | 0.31%             | 2029-04-06      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| ELECTRICITE DE FRANCE SA                    | Electricite de France SA                                                        | CUSIP: 000000000<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $98895.94     | 0.23%             | N/A             | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                    | AT&T Inc                                                                        | CUSIP: 00206RMM1<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    165000 | PA      | $126884.90    | 0.30%             | 2033-12-01      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | 10 YEAR US TREASURY NOTE                                                        | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        -8 | NC      | $12997.86     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO & COMPANY                       | Wells Fargo & Co                                                                | CUSIP: 95000U3A9<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    440000 | PA      | $428925.12    | 1.00%             | 2028-07-25      | Fixed         | 4.81%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                        | Bank of America Corp                                                            | CUSIP: 06051GKY4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    230000 | PA      | $218219.64    | 0.51%             | 2033-07-22      | Fixed         | 5.01%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE GROUP AG                      | Credit Suisse Group AG                                                          | CUSIP: 000000000<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |    200000 | PA      | $175221.42    | 0.41%             | N/A             | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                    | Warnermedia Holdings Inc                                                        | CUSIP: 55903VAJ2<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    145000 | PA      | $125672.57    | 0.29%             | 2029-03-15      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT           | Eurex 2 Year Euro SCHATZ                                                        | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |        -1 | NC      | $1411.99      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                    | Warnermedia Holdings Inc                                                        | CUSIP: 55903VAQ6<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    410000 | PA      | $301056.53    | 0.70%             | 2052-03-15      | Fixed         | 5.14%                 | No            |                  2 | On Loan: No      |
| KLA CORP                                    | KLA Corp                                                                        | CUSIP: 482480AN0<br>LEI: 549300H0BF5JCG96TJ81 | Long             | DBT              | CORP              | US        |    175000 | PA      | $168701.19    | 0.39%             | 2062-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | US ULTRA TREASURY BOND                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        16 | NC      | $-32712.02    | -0.08%            |  |  |  | No            |                  1 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT           | Eurex 5 Year Euro BOBL                                                          | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |        -5 | NC      | $21189.88     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO                         | JPMorgan Chase & Co                                                             | CUSIP: 46647PDH6<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    190000 | PA      | $180747.14    | 0.42%             | 2033-07-25      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| ALCON FINANCE CORP                          | Alcon Finance Corp                                                              | CUSIP: 01400EAF0<br>LEI: 549300CUZUI9VU7XNK42 | Long             | DBT              | CORP              | US        |    340000 | PA      | $344910.41    | 0.80%             | 2052-12-06      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| UNICREDIT SPA                               | UniCredit SpA                                                                   | CUSIP: 904678AY5<br>LEI: 549300TRUWO2CD2G5692 | Long             | DBT              | CORP              | IT        |    200000 | PA      | $151491.52    | 0.35%             | 2032-06-03      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE GROUP AG                      | Credit Suisse Group AG                                                          | CUSIP: 225401AZ1<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |    500000 | PA      | $438197.65    | 1.02%             | 2033-08-12      | Fixed         | 6.54%                 | No            |                  2 | On Loan: No      |
| Jimmy John's Funding LLC                    | Jimmy Johns Funding LLC                                                         | CUSIP: 47760QAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    243000 | PA      | $224493.38    | 0.52%             | 2047-07-30      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Citibank, National Association              | USD/JPY FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-45651.21    | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| KYNDRYL HOLDINGS INC                        | Kyndryl Holdings Inc                                                            | CUSIP: 50155QAL4<br>LEI: 549300LQ4LWX2R8ZV130 | Long             | DBT              | CORP              | US        |    259000 | PA      | $173069.69    | 0.40%             | 2031-10-15      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QQJL0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    194315 | PA      | $193925.47    | 0.45%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Progress Residential Trust                  | Progress Residential 2020-SFR2 Trust                                            | CUSIP: 74333LAG1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    360000 | PA      | $332764.79    | 0.77%             | 2037-06-17      | Fixed         | 3.87%                 | No            |                  2 | On Loan: No      |
| META PLATFORMS INC                          | Meta Platforms Inc                                                              | CUSIP: 30303M8J4<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |    179000 | PA      | $143297.99    | 0.33%             | 2052-08-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| ALCON FINANCE CORP                          | Alcon Finance Corp                                                              | CUSIP: 01400EAE3<br>LEI: 549300CUZUI9VU7XNK42 | Long             | DBT              | CORP              | US        |    250000 | PA      | $252287.66    | 0.59%             | 2032-12-06      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                       | Wells Fargo & Co                                                                | CUSIP: 95000U3B7<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    220000 | PA      | $208342.23    | 0.48%             | 2033-07-25      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON NATIONAL BANK                    | Huntington National Bank/The                                                    | CUSIP: 44644MAJ0<br>LEI: 2WHM8VNJH63UN14OL754 | Long             | DBT              | CORP              | US        |    250000 | PA      | $251028.46    | 0.58%             | 2030-01-10      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| TCW CLO                                     | TCW CLO 2018-1 Ltd                                                              | CUSIP: 87240UAT7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $238075.00    | 0.55%             | 2031-04-25      | Floating      | 5.76%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG                            | Deutsche Bank AG                                                                | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    200000 | PA      | $162461.73    | 0.38%             | N/A             | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| ANGLOGOLD HOLDINGS PLC                      | AngloGold Ashanti Holdings PLC                                                  | CUSIP: 03512TAE1<br>LEI: 213800745ZIXC4L6A131 | Long             | DBT              | CORP              | IM        |    200000 | PA      | $174297.60    | 0.41%             | 2030-10-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | 2 YEAR US TREASURY NOTE                                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |         8 | NC      | $-1042.21     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3133KPSF6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    447102 | PA      | $431084.36    | 1.00%             | 2052-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SMRT                                        | SMRT 2022-MINI                                                                  | CUSIP: 78457JAL6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    400000 | PA      | $371863.74    | 0.87%             | 2039-01-15      | Floating      | 6.29%                 | No            |                  2 | On Loan: No      |
| GE HEALTHCARE TECH INC                      | GE HealthCare Technologies Inc                                                  | CUSIP: 36267VAJ2<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |    200000 | PA      | $207509.40    | 0.48%             | 2032-11-22      | Fixed         | 5.91%                 | No            |                  2 | On Loan: No      |
| GE HEALTHCARE TECH INC                      | GE HealthCare Technologies Inc                                                  | CUSIP: 36267VAG8<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |    200000 | PA      | $204940.49    | 0.48%             | 2030-03-15      | Fixed         | 5.86%                 | No            |                  2 | On Loan: No      |
| MVW Owner Trust                             | MVW 2021-2 LLC                                                                  | CUSIP: 55400KAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    282149 | PA      | $253004.46    | 0.59%             | 2039-05-20      | Fixed         | 1.83%                 | No            |                  2 | On Loan: No      |
| COMERICA BANK                               | Comerica Bank                                                                   | CUSIP: 200339EX3<br>LEI: 70WY0ID1N53Q4254VH70 | Long             | DBT              | CORP              | US        |    250000 | PA      | $240095.26    | 0.56%             | 2033-08-25      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| Citibank, National Association              | EUR/NOK FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-376.75      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UPJOHN FINANCE BV                           | Upjohn Finance BV                                                               | CUSIP: 000000000<br>LEI: 254900OG32E8F3XO5O83 | Long             | DBT              | CORP              | NL        |    140000 | PA      | $113583.00    | 0.26%             | 2032-06-23      | Fixed         | 1.91%                 | No            |                  2 | On Loan: No      |
| UNIVAR USA INC                              | Univar Solutions USA Inc/Washington                                             | CUSIP: 91335PAJ8<br>LEI: 5493008FTB9VZW6CVA82 | Long             | LON              | CORP              | US        |    394987 | PA      | $392846.62    | 0.91%             | 2028-06-03      | Floating      | 6.12%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                               | Citigroup Inc                                                                   | CUSIP: 17327CAQ6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    220000 | PA      | $177639.60    | 0.41%             | 2033-01-25      | Fixed         | 3.06%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140LWY68<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    224560 | PA      | $228777.51    | 0.53%             | 2052-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                    | IRS CNY                                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DIR              | CORP              | US        |         1 | NC      | $-1808.90     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC                           | Kinder Morgan Inc                                                               | CUSIP: 49456BAV3<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |    200000 | PA      | $185482.66    | 0.43%             | 2033-02-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                    | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                       | CUSIP: 00774MAR6<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    220000 | PA      | $204713.72    | 0.48%             | 2027-10-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                   | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F020612<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3800000 | PA      | $3092288.00   | 7.20%             | 2053-01-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| NEWDAY FUNDING                              | Newday Funding Master Issuer PLC - Series 2021-3                                | CUSIP: 65120LAD3<br>LEI: 213800GBPRAJHSB5YK19 | Long             | ABS-O            | CORP              | GB        |    250000 | PA      | $244109.74    | 0.57%             | 2029-11-15      | Floating      | 5.20%                 | No            |                  2 | On Loan: No      |
| ARCELORMITTAL SA                            | ArcelorMittal SA                                                                | CUSIP: 03938LBF0<br>LEI: 2EULGUTUI56JI9SAL165 | Long             | DBT              | CORP              | LU        |    915000 | PA      | $911518.33    | 2.12%             | 2032-11-29      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Commercial Mortgage Trust 2021-XL2                                           | CUSIP: 05609KAG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    370686 | PA      | $348679.14    | 0.81%             | 2038-10-15      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| Citibank, National Association              | JPY/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $27785.71     | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QQJN6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    571255 | PA      | $573828.72    | 1.34%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Citibank, National Association              | USD/JPY FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $27609.22     | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| KYNDRYL HOLDINGS INC                        | Kyndryl Holdings Inc                                                            | CUSIP: 50155QAM2<br>LEI: 549300LQ4LWX2R8ZV130 | Long             | DBT              | CORP              | US        |    200000 | PA      | $118143.49    | 0.27%             | 2041-10-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                              | Morgan Stanley                                                                  | CUSIP: 61747YEU5<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    280000 | PA      | $262970.34    | 0.61%             | 2033-07-20      | Fixed         | 4.89%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                           | HSBC Holdings PLC                                                               | CUSIP: 404280DH9<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $185745.12    | 0.43%             | 2033-08-11      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2022-R04                                    | CUSIP: 20753YCK6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     88000 | PA      | $87197.68     | 0.20%             | 2042-03-25      | Floating      | 7.03%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QQQX6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     99800 | PA      | $101619.96    | 0.24%             | 2052-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                | Credit Suisse Mortgage Capital Certificates                                     | CUSIP: 12659LAB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    625000 | PA      | $580790.06    | 1.35%             | 2065-04-25      | Variable      | 2.23%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE GROUP AG                      | Credit Suisse Group AG                                                          | CUSIP: 000000000<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |    250000 | PA      | $201200.65    | 0.47%             | 2029-01-12      | Fixed         | 3.87%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                    | CDS CDX.NA.IG.39.V1                                                             | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DCR              | CORP              | US        |         1 | NC      | $-56030.10    | -0.13%            |  |  |  | No            |                  2 | On Loan: No      |
| INTEL CORP                                  | Intel Corp                                                                      | CUSIP: 458140CB4<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    300000 | PA      | $266525.62    | 0.62%             | 2052-08-05      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl              | Santander Drive Auto Receivables Trust 2022-4                                   | CUSIP: 80286FAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    400000 | PA      | $388584.79    | 0.90%             | 2027-11-15      | Fixed         | 4.42%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE FINANCIAL INC                    | Corebridge Financial Inc                                                        | CUSIP: 21871XAE9<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |    120000 | PA      | $109320.78    | 0.25%             | 2029-04-05      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3133BGVY1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    893836 | PA      | $864753.62    | 2.01%             | 2052-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | US 5 YEAR TREASURY NOTE                                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        29 | NC      | $-2881.44     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY                              | Morgan Stanley                                                                  | CUSIP: 61747YEF8<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    260000 | PA      | $189652.79    | 0.44%             | 2036-09-16      | Fixed         | 2.48%                 | No            |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC                         | Global Payments Inc                                                             | CUSIP: 37940XAN2<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |    110000 | PA      | $106762.46    | 0.25%             | 2029-08-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| AUST & NZ BANKING GROUP                     | Australia & New Zealand Banking Group Ltd                                       | CUSIP: 052528AP1<br>LEI: JHE42UYNWWTJB8YTTU19 | Long             | DBT              | CORP              | AU        |    230000 | PA      | $233167.12    | 0.54%             | 2032-12-08      | Fixed         | 6.74%                 | No            |                  2 | On Loan: No      |
| Citibank, National Association              | NOK/EUR FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $694.09       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| NOMURA HOLDINGS INC                         | Nomura Holdings Inc                                                             | CUSIP: 65535HBC2<br>LEI: 549300B3CEAHYG7K8164 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $196609.80    | 0.46%             | 2029-07-06      | Fixed         | 5.61%                 | No            |                  2 | On Loan: No      |
| AIRCASTLE LTD                               | Aircastle Ltd                                                                   | CUSIP: 00928QAU5<br>LEI: 549300PNK8AKY3OIKP58 | Long             | DBT              | CORP              | BM        |    153000 | PA      | $125660.43    | 0.29%             | 2028-01-26      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Citibank, National Association              | EUR/GBP FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-5052.64     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| COMMERZBANK AG                              | Commerzbank AG                                                                  | CUSIP: 000000000<br>LEI: 851WYGNLUQLFZBSYGB56 | Long             | DBT              | CORP              | DE        |    200000 | PA      | $198778.75    | 0.46%             | N/A             | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables               | Exeter Automobile Receivables Trust 2021-4                                      | CUSIP: 30165JAF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    450000 | PA      | $411463.19    | 0.96%             | 2028-01-17      | Fixed         | 1.96%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES INC                    | Sensata Technologies Inc                                                        | CUSIP: 81727PAB2<br>LEI: 5493002MMDDCUNV7NY90 | Long             | LON              | CORP              | US        |    395908 | PA      | $393433.51    | 0.92%             | 2026-09-20      | Floating      | 6.11%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA                         | Bank of Nova Scotia/The                                                         | CUSIP: 06417XAG6<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    190000 | PA      | $161140.24    | 0.38%             | 2037-05-04      | Fixed         | 4.59%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                        | Bank of America Corp                                                            | CUSIP: 06051GKC2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    260000 | PA      | $191675.70    | 0.45%             | 2036-09-21      | Fixed         | 2.48%                 | No            |                  2 | On Loan: No      |
| OZLM Ltd                                    | OZLM VIII Ltd                                                                   | CUSIP: 67107FBN6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    300000 | PA      | $289470.00    | 0.67%             | 2029-10-17      | Floating      | 5.73%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                    | IRS CNY                                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DIR              | CORP              | US        |         1 | NC      | $-3192.87     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                    | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175BY9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $144441.48    | 0.34%             | 2061-04-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| ROYALTY PHARMA PLC                          | Royalty Pharma PLC                                                              | CUSIP: 78081BAM5<br>LEI: 549300FGFN7VOK8BZR03 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $128572.72    | 0.30%             | 2050-09-02      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                               | Citigroup Inc                                                                   | CUSIP: 172967MX6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    700000 | PA      | $655289.11    | 1.53%             | 2025-05-01      | Fixed         | 0.98%                 | No            |                  2 | On Loan: No      |
| ENTEGRIS INC                                | Entegris Inc                                                                    | CUSIP: 29362LAL8<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | LON              | CORP              | US        |    500000 | PA      | $498125.00    | 1.16%             | 2029-07-06      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| BELLEMEADE RE LT                            | Bellemeade Re 2018-3 Ltd                                                        | CUSIP: 07877TAB7<br>LEI: 2549009SOTYJD2MZFC61 | Long             | ABS-MBS          | CORP              | BM        |     41725 | PA      | $41691.28     | 0.10%             | 2028-10-25      | Floating      | 6.24%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                    | CDS CDX.NA.IG.39.V1                                                             | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DCR              | CORP              | US        |         1 | NC      | $-33352.25    | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| SVB FINANCIAL GROUP                         | SVB Financial Group                                                             | CUSIP: 78486QAS0<br>LEI: 549300D2KJ20JMXE7542 | Long             | DBT              | CORP              | US        |    200000 | PA      | $175970.24    | 0.41%             | 2033-04-29      | Fixed         | 4.57%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                         | American Tower Corp                                                             | CUSIP: 03027XBW9<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |    156000 | PA      | $139516.78    | 0.32%             | 2032-03-15      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Commercial Mortgage Trust 2021-21M                                           | CUSIP: 05609CAL1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    223503 | PA      | $205419.02    | 0.48%             | 2036-10-15      | Floating      | 5.74%                 | No            |                  2 | On Loan: No      |
| Citibank, National Association              | USD/GBP FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-4595.29     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANCORP                         | Fifth Third Bancorp                                                             | CUSIP: 316773DJ6<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |    180000 | PA      | $185321.84    | 0.43%             | 2028-10-27      | Fixed         | 6.36%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                | Broadcom Inc                                                                    | CUSIP: 11135FBF7<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    186000 | PA      | $139424.36    | 0.32%             | 2033-02-15      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                 | Oracle Corp                                                                     | CUSIP: 68389XCB9<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    180000 | PA      | $125687.91    | 0.29%             | 2061-03-25      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| BELLEMEADE RE LT                            | Bellemeade Re 2019-1 Ltd                                                        | CUSIP: 07876RAB2<br>LEI: 254900K56RF3Z7VQ3U81 | Long             | ABS-MBS          | CORP              | BM        |     13043 | PA      | $13037.58     | 0.03%             | 2029-03-25      | Floating      | 6.14%                 | No            |                  2 | On Loan: No      |
| EQUINIX INC                                 | Equinix Inc                                                                     | CUSIP: 29444UBU9<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | DBT              | CORP              | US        |    180000 | PA      | $159430.59    | 0.37%             | 2032-04-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| ESSENTIAL UTILITIES INC                     | Essential Utilities Inc                                                         | CUSIP: 29670GAG7<br>LEI: 549300ILTEOF3E3QY357 | Long             | DBT              | CORP              | US        |    150000 | PA      | $141172.39    | 0.33%             | 2052-05-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| ABERTIS FINANCE BV                          | Abertis Infraestructuras Finance BV                                             | CUSIP: 000000000<br>LEI: 5493007WHKI5H75YJ358 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $180443.62    | 0.42%             | N/A             | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR REMIC Trust 2021-DNA6                                         | CUSIP: 35564KKY4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    196458 | PA      | $184919.52    | 0.43%             | 2041-10-25      | Floating      | 5.43%                 | No            |                  2 | On Loan: No      |
| Jack in the Box Funding, LLC                | Jack in the Box Funding LLC                                                     | CUSIP: 466365AD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    181240 | PA      | $154987.41    | 0.36%             | 2052-02-26      | Fixed         | 3.44%                 | No            |                  2 | On Loan: No      |
| EDP FINANCE BV                              | EDP Finance BV                                                                  | CUSIP: 26835PAJ9<br>LEI: 5299007L43AQDFOW5739 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $307687.05    | 0.72%             | 2027-10-11      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                 | Oracle Corp                                                                     | CUSIP: 68389XCH6<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    210000 | PA      | $218320.99    | 0.51%             | 2029-11-09      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| SETANTA AIRCRAFT LEASING                    | Setanta Aircraft Leasing DAC                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | IE        |    500000 | PA      | $496750.00    | 1.16%             | 2028-11-05      | Floating      | 6.55%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                              | Morgan Stanley                                                                  | CUSIP: 61747YEB7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $947034.03    | 2.20%             | 2025-01-22      | Fixed         | 0.79%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                  | MFA 2020-NQM3 Trust                                                             | CUSIP: 552757AC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    322699 | PA      | $284928.70    | 0.66%             | 2065-01-26      | Variable      | 1.63%                 | No            |                  2 | On Loan: No      |
| Drive Auto Receivables Trust                | Drive Auto Receivables Trust 2021-2                                             | CUSIP: 262104AF9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    280000 | PA      | $257815.13    | 0.60%             | 2029-03-15      | Fixed         | 1.39%                 | No            |                  2 | On Loan: No      |
| American Credit Acceptance Rec              | American Credit Acceptance Receivables Trust 2020-1                             | CUSIP: 02529VAJ8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $484999.47    | 1.13%             | 2026-03-13      | Fixed         | 3.32%                 | No            |                  2 | On Loan: No      |
| GM Financial Automobile Leasin              | GM Financial Automobile Leasing Trust 2021-1                                    | CUSIP: 36261RAG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $483426.48    | 1.13%             | 2025-07-21      | Fixed         | 1.01%                 | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN                    | Rogers Communications Inc                                                       | CUSIP: 775109CD1<br>LEI: 54930030NVF3Y2OL0A78 | Long             | DBT              | CORP              | CA        |    173000 | PA      | $135212.54    | 0.31%             | 2052-03-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Citibank, National Association              | USD/EUR FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-13160.21    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank, National Association              | GBP/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-32484.37    | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD                    | Avolon Holdings Funding Ltd                                                     | CUSIP: 05401AAJ0<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |    160000 | PA      | $137522.03    | 0.32%             | 2027-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140LXFM2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    893934 | PA      | $839427.05    | 1.95%             | 2052-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | US 10YR ULTRA                                                                   | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       -25 | NC      | $42919.44     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| BX Trust                                    | BX Commercial Mortgage Trust 2022-CSMO                                          | CUSIP: 05610MAD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $494470.44    | 1.15%             | 2027-06-15      | Floating      | 8.22%                 | No            |                  2 | On Loan: No      |
| RENESAS ELECTRONICS CORP                    | Renesas Electronics Corp                                                        | CUSIP: 75972BAA9<br>LEI: 5299000EPC47VJQOFB81 | Long             | DBT              | CORP              | JP        |    210000 | PA      | $192422.22    | 0.45%             | 2024-11-26      | Fixed         | 1.54%                 | No            |                  2 | On Loan: No      |
| ATHENE GLOBAL FUNDING                       | Athene Global Funding                                                           | CUSIP: 04685A2X8<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |    465000 | PA      | $456219.36    | 1.06%             | 2024-05-24      | Floating      | 4.70%                 | No            |                  2 | On Loan: No      |
| UNITED MEXICAN STATES                       | Mexico Government International Bond                                            | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    130000 | PA      | $96793.10     | 0.23%             | 2115-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR REMIC Trust 2022-DNA2                                         | CUSIP: 35564KRF8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    460000 | PA      | $447246.05    | 1.04%             | 2042-02-25      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                          | Energy Transfer LP                                                              | CUSIP: 29273VAP5<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    140000 | PA      | $138721.47    | 0.32%             | 2028-02-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                       | Toronto-Dominion Bank/The                                                       | CUSIP: 89115A2E1<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    144000 | PA      | $137068.30    | 0.32%             | 2032-06-08      | Fixed         | 4.46%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                  | Verus Securitization Trust 2020-4                                               | CUSIP: 92538LAD3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    400000 | PA      | $335656.72    | 0.78%             | 2065-05-25      | Variable      | 3.29%                 | No            |                  2 | On Loan: No      |
| EMPRESA DE LOS FERROCARR                    | Empresa de los Ferrocarriles del Estado                                         | CUSIP: 000000000<br>LEI: 8755006LY8XNRFOGWN86 | Long             | DBT              | CORP              | CL        |    260000 | PA      | $181512.50    | 0.42%             | 2061-09-14      | Fixed         | 3.83%                 | No            |                  2 | On Loan: No      |
| Diamond Issuer LLC                          | Diamond Issuer                                                                  | CUSIP: 25267TAQ4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $407174.75    | 0.95%             | 2051-11-20      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                        | Bank of America Corp                                                            | CUSIP: 06051GKQ1<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    230000 | PA      | $210736.86    | 0.49%             | 2033-04-27      | Fixed         | 4.57%                 | No            |                  2 | On Loan: No      |
| DISCOVER FINANCIAL SVS                      | Discover Financial Services                                                     | CUSIP: 254709AS7<br>LEI: Z1YLO2USPORE63VVUL20 | Long             | DBT              | CORP              | US        |    228000 | PA      | $232020.62    | 0.54%             | 2032-11-29      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                   | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F022618<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3000000 | PA      | $2537412.00   | 5.91%             | 2053-01-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| HCA INC                                     | HCA Inc                                                                         | CUSIP: 404119CG2<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    230000 | PA      | $180122.81    | 0.42%             | 2052-03-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                           | HSBC Holdings PLC                                                               | CUSIP: 404280DF3<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $189339.22    | 0.44%             | 2028-06-09      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                     | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GYJ7<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    406000 | PA      | $314729.06    | 0.73%             | 2032-07-21      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| INTESA SANPAOLO SPA                         | Intesa Sanpaolo SpA                                                             | CUSIP: 46115HBV8<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |    450000 | PA      | $456403.82    | 1.06%             | 2033-11-21      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS CO                           | General Motors Co                                                               | CUSIP: 37045VAQ3<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |    133000 | PA      | $109404.40    | 0.25%             | 2048-04-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| ELECTRICITE DE FRANCE SA                    | Electricite de France SA                                                        | CUSIP: 000000000<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $174487.63    | 0.41%             | N/A             | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| US Government Money Market Fund             | US Government Money Market Fund                                                 | CUSIP: 74926P696<br>LEI: 549300RFDC5U7WLJKO50 | Long             | STIV             | RF                | US        |   1730634 | NS      | $1730634.35   | 4.03%             |  |  |  | No            |                  1 | On Loan: No      |
| GM Financial Automobile Leasin              | GM Financial Automobile Leasing Trust 2022-3                                    | CUSIP: 380130AF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    400000 | PA      | $393778.88    | 0.92%             | 2026-08-20      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| HONO Mortgage Trust                         | HONO 2021-LULU Mortgage Trust                                                   | CUSIP: 40390MAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $239858.68    | 0.56%             | 2036-10-15      | Floating      | 5.47%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-22

**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.