# EDGAR Filing Document

**Accession Number:** 0001272950
**File Stem:** 0001752724-23-049082
**Filing Date:** 2023-3
**Character Count:** 106504
**Document Hash:** 20ce5b28ff02fe93e5ed70b8e587da49
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-049082.hdr.sgml**: 20230301

**ACCESSION NUMBER**: 0001752724-23-049082

**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**: 20230331

**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:** 23690798

**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 Short Duration Fixed Income Fund (Series ID: S000043718)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000135576 | Class I      | RSDIX           |
| C000138515 | Class A      | RSHFX           |

## Nport-Ex

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC Short Duration Fixed Income Fund

------

**December 31, 2022 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Principal<br>Amount** |  | **Value** |
|  **Corporate Bonds — 59.44%** | **Corporate Bonds — 59.44%** |  |
|  **Basic Materials — 2.32%** | **Basic Materials — 2.32%** |  |
| $500000 | Albemarle Corp., 4.65%, 6/1/27 | $488909 |
| 200000 | Celanese US Holdings LLC, 5.90%, 7/5/24 | 199894 |
| 350000 | DuPont de Nemours, Inc., (LIBOR USD 3-Month + 1.110%), 5.72%, 11/15/23(a) | 349641 |
| 100000 | International Flavors & Fragrances, Inc., 1.23%, 10/1/25(b) | 88414 |
| 100000 | Nutrien Ltd., 5.90%, 11/7/24 | 101244 |
| 100000 | Nutrien Ltd., 5.95%, 11/7/25 | 102210 |
|  |  | 1330312 |
|  **Communications — 2.15%** | **Communications — 2.15%** |  |
| 300000 | Charter Communications Operating LLC / Charter Communications Operating Capital, 4.50%, 2/1/24 | 296381 |
| 250000 | Rogers Communications, Inc., 2.95%, 3/15/25(b) | 238408 |
| 500000 | Videotron Ltd., 5.38%, 6/15/24(b) | 496236 |
| 196000 | Walt Disney Co. (The), 7.75%, 1/20/24 | 200921 |
|  |  | 1231946 |
|  **Consumer, Cyclical — 5.09%** | **Consumer, Cyclical — 5.09%** |  |
| 200000 | 7-Eleven, Inc., 0.80%, 2/10/24(b) | 190251 |
| 365000 | Aptiv Plc / Aptiv Corp., 2.40%, 2/18/25 | 344223 |
| 175000 | Brunswick Corp., 0.85%, 8/18/24 | 161709 |
| 275000 | Daimler Trucks Finance North America LLC, (SOFR RATE + 1.000%), 4.66%, 4/5/24(a),(b) | 273872 |
| 500000 | Ford Motor Credit Co. LLC, 3.66%, 9/8/24 | 477608 |
| 165000 | General Motors Financial Co., Inc., 4.00%, 1/15/25 | 160194 |
| 150000 | General Motors Financial Co., Inc., 4.15%, 6/19/23 | 149231 |
| 265000 | General Motors Financial Co., Inc., (SOFR RATE + 1.040%), 5.24%, 2/26/27(a) | 247030 |
| 260000 | Volkswagen Group of America Finance LLC, 0.88%, 11/22/23(b) | 249645 |
| 250000 | Volkswagen Group of America Finance LLC, 3.95%, 6/6/25(b) | 242033 |
| 250000 | Volkswagen Group of America Finance LLC, 4.25%, 11/13/23(b) | 247220 |
| 180000 | Warnermedia Holdings, Inc., 3.43%, 3/15/24(b) | 174701 |
|  |  | 2917717 |
|  **Consumer, Non-cyclical — 7.62%** | **Consumer, Non-cyclical — 7.62%** |  |
| 200000 | Baxter International, Inc., 1.92%, 2/1/27 | 177615 |
| 182000 | Becton Dickinson and Co., 3.36%, 6/6/24 | 177553 |
| 275000 | Conagra Brands, Inc., 0.50%, 8/11/23 | 267040 |
| 250000 | EMD Finance LLC, 3.25%, 3/19/25(b) | 240052 |
| 475000 | GE HealthCare Technologies, Inc., 5.55%, 11/15/24(b) | 476524 |
| 550000 | GE HealthCare Technologies, Inc., 5.60%, 11/15/25(b) | 553326 |
| 225000 | Global Payments, Inc., 1.50%, 11/15/24 | 209359 |
| 525000 | GSK Consumer Healthcare Capital UK Plc, 3.13%, 3/24/25 | 499986 |
| 350000 | HCA, Inc., 5.38%, 2/1/25 | 349623 |
| 250000 | Health Care Service Corp. A Mutual Legal Reserve Co., 1.50%, 6/1/25(b) | 227837 |
| 175000 | Humana, Inc., 0.65%, 8/3/23 | 170656 |

---

**1** 

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC Short Duration Fixed Income Fund (cont.)

------

**December 31, 2022 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Principal<br>Amount** |  | **Value** |
| $200000 | JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance, Inc., 2.50%, 1/15/27(b) | $174993 |
| 400000 | JDE Peet's NV, 0.80%, 9/24/24(b) | 365736 |
| 275000 | PerkinElmer, Inc., 0.85%, 9/15/24 | 255084 |
| 240000 | Zimmer Biomet Holdings, Inc., 1.45%, 11/22/24 | 223361 |
|  |  | 4368745 |
|  **Energy — 3.92%** | **Energy — 3.92%** |  |
| 100000 | Baker Hughes Holdings LLC / Baker Hughes Co.-Obligor, Inc., 2.06%, 12/15/26 | 89627 |
| 400000 | Continental Resources, Inc., 2.27%, 11/15/26(b) | 346889 |
| 225000 | Enbridge, Inc., 0.55%, 10/4/23 | 217494 |
| 500000 | Enbridge, Inc., 2.50%, 1/15/25 | 473085 |
| 250000 | Energy Transfer LP, 4.50%, 4/15/24 | 246531 |
| 70000 | EQT Corp., 5.68%, 10/1/25 | 69873 |
| 200000 | Kinder Morgan Energy Partners LP, 4.25%, 9/1/24 | 196772 |
| 125000 | Kinder Morgan, Inc., 1.75%, 11/15/26 | 110294 |
| 250000 | Kinder Morgan, Inc., 4.30%, 6/1/25 | 245417 |
| 250000 | ONEOK Partners LP, 5.00%, 9/15/23 | 249175 |
|  |  | 2245157 |
|  **Financial — 22.23%** | **Financial — 22.23%** |  |
| 300000 | AerCap Ireland Capital DAC / AerCap Global Aviation Trust, 4.88%, 1/16/24 | 297140 |
| 200000 | American Tower Corp., REIT, 3.50%, 1/31/23 | 199774 |
| 500000 | American Tower Corp., REIT, 5.00%, 2/15/24 | 498925 |
| 250000 | Athene Global Funding, 1.61%, 6/29/26(b) | 215364 |
| 125000 | Athene Global Funding, 1.73%, 10/2/26(b) | 107442 |
| 510000 | Barclays Plc, 5.30%, 8/9/26(c) | 506496 |
| 550000 | BNP Paribas SA, 3.50%, 3/1/23(b) | 548675 |
| 149000 | Camden Property Trust, REIT, 4.88%, 6/15/23 | 148572 |
| 235000 | Capital One Financial Corp., 2.64%, 3/3/26(c) | 220337 |
| 390000 | Charles Schwab Corp. (The), (Secured Overnight Financing Average Index + 1.050%), 5.30%, 3/3/27(a) | 379296 |
| 170000 | Citigroup, Inc., 1.28%, 11/3/25(c) | 156610 |
| 350000 | Citigroup, Inc., 4.04%, 6/1/24(c) | 347669 |
| 115000 | Citigroup, Inc., 4.14%, 5/24/25(c) | 113243 |
| 350000 | Citigroup, Inc., (SOFR RATE + 0.770%), 5.06%, 6/9/27(a) | 334356 |
| 275000 | Corebridge Financial, Inc., 3.50%, 4/4/25(b) | 263594 |
| 500000 | Credit Agricole SA, 3.75%, 4/24/23(b) | 497359 |
| 275000 | Crown Castle, Inc., REIT, 1.35%, 7/15/25 | 250030 |
| 325000 | Deutsche Bank AG, Series E, 0.96%, 11/8/23 | 312144 |
| 475000 | Deutsche Bank AG, 4.16%, 5/13/25 | 465111 |
| 200000 | DNB Bank ASA, 1.54%, 5/25/27(b),(c) | 174088 |
| 300000 | GA Global Funding Trust, 2.25%, 1/6/27(b) | 264556 |
| 250000 | Goldman Sachs Group, Inc. (The), 0.67%, 3/8/24(c) | 247005 |
| 150000 | Goldman Sachs Group, Inc. (The), 0.93%, 10/21/24(c) | 144033 |
| 220000 | Goldman Sachs Group, Inc. (The), 1.76%, 1/24/25(c) | 210545 |
| 200000 | HSBC Holdings Plc, 0.98%, 5/24/25(c) | 185015 |

---

**2** 

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC Short Duration Fixed Income Fund (cont.)

------

**December 31, 2022 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Principal<br>Amount** |  | **Value** |
| $455000 | Huntington National Bank (The), 5.70%, 11/18/25(c) | $456382 |
| 100000 | Jackson Financial, Inc., 1.13%, 11/22/23 | 96409 |
| 430000 | JPMorgan Chase & Co., 3.85%, 6/14/25(c) | 420732 |
| 200000 | JPMorgan Chase & Co., (LIBOR USD 3-Month + 0.890%), 5.22%, 7/23/24(a) | 199142 |
| 510000 | Lloyds Banking Group Plc, 4.72%, 8/11/26(c) | 498197 |
| 675000 | Mitsubishi UFJ Financial Group, Inc., 5.06%, 9/12/25(c) | 670703 |
| 150000 | Morgan Stanley, MTN, 1.16%, 10/21/25(c) | 138019 |
| 355000 | Morgan Stanley, 3.62%, 4/17/25(c) | 346266 |
| 350000 | Nomura Holdings, Inc., 5.10%, 7/3/25 | 346447 |
| 250000 | Realty Income Corp., REIT, 4.60%, 2/6/24 | 248321 |
| 300000 | Santander Holdings USA, Inc., 4.26%, 6/9/25(c) | 290737 |
| 275000 | Simon Property Group LP, (Secured Overnight Financing Average Index + 0.430%), REIT, 4.16%, 1/11/24(a) | 272708 |
| 250000 | Societe Generale SA, (SOFR RATE + 1.050%), 4.93%, 1/21/26(a),(b) | 240702 |
| 600000 | UBS Group AG, 4.49%, 5/12/26(b),(c) | 585505 |
| 110000 | VICI Properties LP, REIT, 4.38%, 5/15/25 | 107128 |
| 420000 | Wells Fargo & Co., GMTN, 3.53%, 3/24/28(c) | 389373 |
| 360000 | Wells Fargo & Co., GMTN, 3.91%, 4/25/26(c) | 349647 |
|  |  | 12743797 |
|  **Industrial — 3.37%** | **Industrial — 3.37%** |  |
| 200000 | Boeing Co. (The), 1.43%, 2/4/24 | 191317 |
| 150000 | Boeing Co. (The), 2.20%, 2/4/26 | 136338 |
| 300000 | CNH Industrial Capital LLC, 1.45%, 7/15/26 | 265228 |
| 300000 | Huntington Ingalls Industries, Inc., 0.67%, 8/16/23 | 291222 |
| 425000 | Teledyne Technologies, Inc., 0.95%, 4/1/24 | 402510 |
| 400000 | Trane Technologies Global Holding Co. Ltd., 4.25%, 6/15/23 | 398664 |
| 250000 | Trane Technologies Luxembourg Finance SA, 3.55%, 11/1/24 | 243289 |
|  |  | 1928568 |
|  **Technology — 5.77%** | **Technology — 5.77%** |  |
| 80000 | Dell International LLC / EMC Corp., 5.45%, 6/15/23 | 80007 |
| 260000 | Kyndryl Holdings, Inc., 2.05%, 10/15/26 | 214971 |
| 375000 | Leidos, Inc., 2.95%, 5/15/23 | 371766 |
| 375000 | Microchip Technology, Inc., 0.97%, 2/15/24 | 356517 |
| 100000 | Microchip Technology, Inc., 0.98%, 9/1/24 | 92743 |
| 100000 | NXP BV / NXP Funding LLC / NXP USA, Inc., 2.70%, 5/1/25 | 94019 |
| 295000 | Oracle Corp., 5.80%, 11/10/25 | 301333 |
| 300000 | Qorvo, Inc., 1.75%, 12/15/24(b) | 276790 |
| 225000 | Roper Technologies, Inc., 2.35%, 9/15/24 | 214657 |
| 125000 | Skyworks Solutions, Inc., 0.90%, 6/1/23 | 122442 |
| 575000 | Take-Two Interactive Software, Inc., 3.30%, 3/28/24 | 561180 |
| 200000 | TSMC Arizona Corp., 1.75%, 10/25/26 | 177530 |

---

**3** 

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC Short Duration Fixed Income Fund (cont.)

------

**December 31, 2022 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Principal<br>Amount** |  | **Value** |
| $250000 | VMware, Inc., 1.00%, 8/15/24 | $232555 |
| 225000 | Western Digital Corp., 4.75%, 2/15/26 | 211669 |
|  |  | 3308179 |
|  **Utilities — 6.97%** | **Utilities — 6.97%** |  |
| 275000 | Ameren Corp., 1.95%, 3/15/27 | 242006 |
| 400000 | American Electric Power Co., Inc., Series M, 0.75%, 11/1/23 | 386349 |
| 100000 | American Electric Power Co., Inc., 2.03%, 3/15/24 | 96278 |
| 275000 | CenterPoint Energy Resources Corp., 0.70%, 3/2/23 | 273036 |
| 250000 | CenterPoint Energy, Inc., (TBA), 1.45%, 6/1/26 | 222103 |
| 370000 | Consolidated Edison, Inc., Series A, 0.65%, 12/1/23 | 355401 |
| 280000 | Emera US Finance LP, 0.83%, 6/15/24 | 261991 |
| 500000 | Evergy, Inc., 2.45%, 9/15/24 | 475063 |
| 335000 | Eversource Energy, 4.20%, 6/27/24 | 331116 |
| 250000 | Fells Point Funding Trust, 3.05%, 1/31/27(b) | 227695 |
| 325000 | OGE Energy Corp., 0.70%, 5/26/23 | 319198 |
| 325000 | Pacific Gas and Electric Co., 1.70%, 11/15/23 | 314479 |
| 190000 | Southern Co. (The), 4.48%, 8/1/24 | 187616 |
| 310000 | Vistra Operations Co. LLC, 5.13%, 5/13/25(b) | 303422 |
|  |  | 3995753 |
|  **Total Corporate Bonds**<br> (Cost $35,617,144) | **Total Corporate Bonds**<br> (Cost $35,617,144) | **34070174** |
|  **Asset Backed Securities — 22.31%** | **Asset Backed Securities — 22.31%** |  |
| 240000 | AmeriCredit Automobile Receivables Trust, Series 2019-1, Class D, 3.62%, 3/18/25 | 235917 |
| 105132 | AmeriCredit Automobile Receivables Trust, Series 2019-2, Class C, 2.74%, 4/18/25 | 103966 |
| 455000 | AmeriCredit Automobile Receivables Trust, Series 2019-3, Class D, 2.58%, 9/18/25 | 436453 |
| 315000 | AmeriCredit Automobile Receivables Trust, Series 2021-1, Class D, 1.21%, 12/18/26 | 279420 |
| 335000 | CarMax Auto Owner Trust, Series 2019-1, Class C, 3.74%, 1/15/25 | 334133 |
| 250000 | CarMax Auto Owner Trust, Series 2019-3, Class C, 2.60%, 6/16/25 | 244469 |
| 310000 | CarMax Auto Owner Trust, Series 2019-4, Class C, 2.60%, 9/15/25 | 300658 |
| 175000 | CarMax Auto Owner Trust, Series 2020-1, Class C, 2.34%, 11/17/25 | 168331 |
| 506000 | CarMax Auto Owner Trust, Series 2020-2, Class D, 5.75%, 5/17/27 | 495793 |
| 360783 | Carvana Auto Receivables Trust, Series 2021-N1, Class D, 1.50%, 1/10/28 | 347173 |
| 500000 | Carvana Auto Receivables Trust, Series 2021-N3, Class D, 1.58%, 6/12/28 | 459654 |
| 430000 | Carvana Auto Receivables Trust, Series 2021-N4, Class D, 2.30%, 9/11/28 | 385889 |

---

**4** 

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC Short Duration Fixed Income Fund (cont.)

------

**December 31, 2022 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Principal<br>Amount** |  | **Value** |
| $470000 | Dell Equipment Finance Trust, Series 2021-2, Class D, 1.21%, 6/22/27(b) | $441588 |
| 43402 | Drive Auto Receivables Trust, Series 2019-4, Class D, 2.70%, 2/16/27 | 42622 |
| 19820 | Drive Auto Receivables Trust, Series 2020-1, Class C, 2.36%, 3/16/26 | 19786 |
| 400000 | Drive Auto Receivables Trust, Series 2021-1, Class D, 1.45%, 1/16/29 | 376472 |
| 566000 | Drive Auto Receivables Trust, Series 2021-2, Class D, 1.39%, 3/15/29 | 521155 |
| 810000 | Exeter Automobile Receivables Trust, Series 2019-3A, Class E, 4.00%, 8/17/26(b) | 790049 |
| 330000 | Exeter Automobile Receivables Trust, Series 2022-1A, Class D, 3.02%, 6/15/28 | 303539 |
| 300000 | Exeter Automobile Receivables Trust, Series 2022-5A, Class B, 5.97%, 3/15/27 | 299863 |
| 300000 | Ford Credit Auto Lease Trust, Series 2021-A, Class C, 0.78%, 9/15/25 | 293021 |
| 325000 | GM Financial Automobile Leasing Trust, Series 2021-1, Class D, 1.01%, 7/21/25 | 314227 |
| 370000 | GM Financial Consumer Automobile Receivables Trust, Series 2019-2, Class B, 2.87%, 10/16/24 | 369731 |
| 410000 | GM Financial Consumer Automobile Receivables Trust, Series 2019-3, Class B, 2.32%, 12/16/24 | 406284 |
| 120000 | GM Financial Consumer Automobile Receivables Trust, Series 2019-3, Class C, 2.62%, 1/16/25 | 118952 |
| 80000 | GM Financial Consumer Automobile Receivables Trust, Series 2020-1, Class B, 2.03%, 4/16/25 | 77907 |
| 60000 | GM Financial Consumer Automobile Receivables Trust, Series 2020-1, Class C, 2.18%, 5/16/25 | 58416 |
| 237599 | MVW LLC, Series 2021-2A, Class B, 1.83%, 5/20/39(b) | 213056 |
| 250000 | OZLM VIII Ltd., Series 2014-8A, Class A2R3, (LIBOR USD 3-Month + 1.650%), 5.73%, 10/17/29(a),(b) | 241225 |
| 39116 | Santander Drive Auto Receivables Trust, Series 2019-3, Class D, 2.68%, 10/15/25 | 38800 |
| 400000 | Santander Drive Auto Receivables Trust, Series 2021-1, Class D, 1.13%, 11/16/26 | 377789 |
| 400000 | Santander Drive Auto Receivables Trust, Series 2021-2, Class D, 1.35%, 7/15/27 | 373749 |
| 500000 | Santander Drive Auto Receivables Trust, Series 2021-3, Class D, 1.33%, 9/15/27 | 468926 |
| 200000 | Santander Drive Auto Receivables Trust, Series 2021-4, Class D, 1.67%, 10/15/27 | 184694 |
| 562000 | Santander Revolving Auto Loan Trust, Series 2019-A, Class D, 3.45%, 1/26/32(b) | 511020 |
| 446521 | Sunnova Helios II Issuer LLC, Series 2019-AA, Class A, 3.75%, 6/20/46(b) | 396855 |
| 310000 | Tesla Auto Lease Trust, Series 2020-A, Class B, 1.18%, 1/22/24(b) | 307504 |

---

**5** 

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC Short Duration Fixed Income Fund (cont.)

------

**December 31, 2022 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Principal<br>Amount** |  | **Value** |
| $500000 | Tesla Auto Lease Trust, Series 2021-A, Class D, 1.34%, 3/20/25(b) | $472536 |
| 425000 | Tesla Auto Lease Trust, Series 2021-B, Class D, 1.32%, 9/22/25(b) | 389118 |
| 275000 | Verizon Owner Trust, Series 2019-C, Class B, 2.06%, 4/22/24 | 273916 |
| 322144 | VSE VOI Mortgage LLC, Series 2018-A, Class C, 4.02%, 2/20/36(b) | 310025 |
|  **Total Asset Backed Securities**<br> (Cost $13,474,033) | **Total Asset Backed Securities**<br> (Cost $13,474,033) | **12784681** |
|  **Collateralized Mortgage Obligations — 10.62%** | **Collateralized Mortgage Obligations — 10.62%** |  |
| 330000 | AREIT Trust, Series 2022-CRE6, Class B, (Secured Overnight Financing Rate 30 Day Average + 1.850%), 5.68%, 1/16/37(a),(b) | 311165 |
| 434966 | Bellemeade Re Ltd., Series 2019-2A, Class M1C, (LIBOR USD 1-Month + 2.000%), 6.39%, 4/25/29(a),(b) | 431898 |
| 223503 | BX Commercial Mortgage Trust, Series 2021-21M, Class D, (LIBOR USD 1-Month + 1.426%), 5.74%, 10/15/36(a),(b) | 205419 |
| 254847 | BX Commercial Mortgage Trust, Series 2021-XL2, Class D, (LIBOR USD 1-Month + 1.397%), 5.72%, 10/15/38(a),(b) | 239717 |
| 500000 | BX Commercial Mortgage Trust, Series 2022-CSMO, Class C, (Term SOFR 1M + 3.889%), 8.22%, 6/15/27(a),(b) | 494470 |
| 400000 | BX Mortgage Trust, Series 2022-MVRK, Class D, (Term SOFR 1M + 2.864%), 7.19%, 3/15/39(a),(b) | 376866 |
| 410778 | BX Trust, Series 2022-IND, Class D, (Term SOFR 1M + 2.839%), 7.17%, 4/15/37(a),(b) | 387559 |
| 500000 | COMM Mortgage Trust, Series 2014-CR15, Class D, 4.67%, 2/10/47(b),(d) | 467556 |
| 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),(b) | 193569 |
| 250000 | Connecticut Avenue Securities Trust, Series 2022-R03, Class 1M2, (Secured Overnight Financing Rate 30 Day Average + 3.500%), 7.43%, 3/25/42(a),(b) | 251900 |
| 110000 | Connecticut Avenue Securities Trust, Series 2022-R04, Class 1M2, (Secured Overnight Financing Rate 30 Day Average + 3.100%), 7.03%, 3/25/42(a),(b) | 108997 |
| 499299 | Eagle RE Ltd., Series 2019-1, Class M1B, (LIBOR USD 1-Month + 1.800%), 6.19%, 4/25/29(a),(b) | 488763 |
| 500000 | Ellington Financial Mortgage Trust, Series 2019-2, Class M1, 3.47%, 11/25/59(b),(d) | 424523 |
| 223786 | 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),(b) | 217672 |
| 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),(b) | 447246 |
| 208959 | Freddie Mac STACR REMIC Trust, Series 2022-DNA3, Class M1A, (Secured Overnight Financing Rate 30 Day Average + 2.000%), 5.93%, 4/25/42(a),(b) | 208177 |

---

**6** 

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC Short Duration Fixed Income Fund (cont.)

------

**December 31, 2022 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Principal<br>Amount** |  | **Value** |
| $400000 | SMRT, Series 2022-MINI, Class D, (Term SOFR 1M + 1.950%), 6.29%, 1/15/39(a),(b) | $371864 |
| 500000 | Vista Point Securitization Trust, Series 2020-1, Class M1, 4.15%, 3/25/65(b),(d) | 460608 |
|  **Total Collateralized Mortgage Obligations**<br> (Cost $6,412,511) | **Total Collateralized Mortgage Obligations**<br> (Cost $6,412,511) | **6087969** |
|  **U.S. Treasury Obligations — 5.06%** | **U.S. Treasury Obligations — 5.06%** |  |
|  **U.S. Treasury Notes — 5.06%** | **U.S. Treasury Notes — 5.06%** |  |
| 3000000 | 0.25%, 9/30/23 | 2901562 |
|  **Total U.S. Treasury Obligations**<br> (Cost $2,902,772) | **Total U.S. Treasury Obligations**<br> (Cost $2,902,772) | **2901562** |
|  **U.S. Government Agency Backed Mortgages — 0.01%** | **U.S. Government Agency Backed Mortgages — 0.01%** |  |
|  **Fannie Mae — 0.01%** | **Fannie Mae — 0.01%** |  |
| 1831 | Series 2001-70, Class OF, (LIBOR USD 1-Month + 0.950%), 5.34%, 10/25/31(a) | 1854 |
| 1407 | Series 2009-87, Class FX, (LIBOR USD 1-Month + 0.750%), 5.14%, 11/25/39(a) | 1411 |
|  |  | 3265 |
|  **Freddie Mac — 0.00%** | **Freddie Mac — 0.00%** |  |
| 1397 | Series 2448, Class FT, (LIBOR USD 1-Month + 1.000%), 5.32%, 3/15/32(a) | 1417 |
| 1541 | Series 2488, Class FQ, (LIBOR USD 1-Month + 1.000%), 5.32%, 3/15/32(a) | 1563 |
| 539 | Series 2627, Class MW, 5.00%, 6/15/23 | 537 |
| 392 | Series 3770, Class FP, (LIBOR USD 1-Month + 0.500%), 4.82%, 11/15/40(a) | 393 |
|  |  | 3910 |
|  **Total U.S. Government Agency Backed Mortgages**<br> (Cost $7,098) | **Total U.S. Government Agency Backed Mortgages**<br> (Cost $7,098) | **7175** |

---

**7** 

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC Short Duration Fixed Income Fund (cont.)

------

**December 31, 2022 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value** |
|  **Investment Company — 1.62%** | **Investment Company — 1.62%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;931421 | U.S. Government Money Market Fund, RBC Institutional Class 1(e) | $931421 |
|  **Total Investment Company**<br> (Cost $931,421) | **Total Investment Company**<br> (Cost $931,421) | **931421** |
|  **Total Investments**<br> (Cost $59,344,979) — 99.06% | **Total Investments**<br> (Cost $59,344,979) — 99.06% | $**56782982** |
|  **Other assets in excess of liabilities — 0.94%** | **Other assets in excess of liabilities — 0.94%** | **536437** |
|  **NET ASSETS — 100.00%** | **NET ASSETS — 100.00%** | $**57319419** |

---

------

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

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

(c) 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) 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.

(e) Affiliated investment.

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Long Position** | **Number of<br>Contracts** | **Expiration<br>Date** | **Value/Unrealized<br>Appreciation** | **Notional**<br>**Value** | **Notional**<br>**Value** | **Clearinghouse** |
|  Two Year U.S. Treasury Note | 23 | March 2023 | $4786 | USD $| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4716797 | Barclays Capital Group |
|  **Total** |  |  | $4786 |  |  |  |

---

Abbreviations used are defined below:

GMTN - Global Medium Term Note

LIBOR - London Interbank Offered Rate

MTN - Medium Term Note

REIT - Real Estate Investment Trust

SOFR - Secured Overnight Financing Rate .

TBA - To-be-announced

USD - United States Dollar

**8**

## 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 Short Duration Fixed Income Fund

- **b. EDGAR series identifier (if any):** S000043718

- **c. LEI of Series:** 5493007T7EM1H5XUC487

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

- **a. Date of fiscal year-end:** 2023-03-31

- **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:** $57361408.31

**Total Liabilities:** $174996.88

**Net Assets:** $57186411.43

**Cash Not Reported:** $535643.27

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -0.00026087 | **1-Year:** -0.00929443 | **5-Year:** -0.00475435 | **10-Year:** 0.00000656 | **30-Year:** 0.00000001

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

- **3-Month:** -0.00048706 | **1-Year:** -0.00826331 | **5-Year:** -0.00459876 | **10-Year:** -0.00285050 | **30-Year:** -0.00019811

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000135576 | -0.43%               | 0.97%                | 0.56%                |
| Class ID C000138515 | -0.43%               | 0.96%                | 0.66%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $304.08                  | $-353256.67                                |
| Month 2  | $-191201.55              | $635726.39                                 |
| Month 3  | $-32747.49               | $220924.96                                 |

**Designated Index Information**

- **Index Name:** ICE BofA US Corp BBB 1-3yr

- **Index Identifier:** C1A4

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| HUMANA INC                                  | Humana Inc                                                                      | CUSIP: 444859BP6<br>LEI: 529900YLDW34GJAO4J06 | Long             | DBT              | CORP              | US        |    175000 | PA      | $170655.90    | 0.30%             | 2023-08-03      | Fixed         | 0.65%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                     | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GYL2<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    150000 | PA      | $144033.32    | 0.25%             | 2024-10-21      | Fixed         | 0.93%                 | No            |                  2 | On Loan: No      |
| GM Financial Securitized Term               | GM Financial Consumer Automobile Receivables Trust 2019-2                       | CUSIP: 36257FAF7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    370000 | PA      | $369730.88    | 0.65%             | 2024-10-16      | Fixed         | 2.87%                 | No            |                  2 | On Loan: No      |
| BELLEMEADE RE LT                            | Bellemeade Re 2019-2 Ltd                                                        | CUSIP: 07877BAE0<br>LEI: 254900I4ZKD8IMM1O953 | Long             | ABS-MBS          | CORP              | BM        |    434966 | PA      | $431898.31    | 0.76%             | 2029-04-25      | Floating      | 6.39%                 | 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        |        23 | NC      | $4785.57      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| BAXTER INTERNATIONAL INC                    | Baxter International Inc                                                        | CUSIP: 071813CL1<br>LEI: J5OIVXX3P24RJRW5CK77 | Long             | DBT              | CORP              | US        |    200000 | PA      | $177615.06    | 0.31%             | 2027-02-01      | Fixed         | 1.92%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA                    | Volkswagen Group of America Finance LLC                                         | CUSIP: 928668BR2<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    250000 | PA      | $242033.04    | 0.42%             | 2025-06-06      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                      | General Motors Financial Co Inc                                                 | CUSIP: 37045XAS5<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    165000 | PA      | $160194.38    | 0.28%             | 2025-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                            | Deutsche Bank AG/New York NY                                                    | CUSIP: 251526CM9<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    325000 | PA      | $312144.03    | 0.55%             | 2023-11-08      | Fixed         | 0.96%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                            | Deutsche Bank AG/New York NY                                                    | CUSIP: 251526CQ0<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    475000 | PA      | $465111.27    | 0.81%             | 2025-05-13      | Fixed         | 4.16%                 | No            |                  2 | On Loan: No      |
| Eagle Re Ltd                                | Eagle RE 2019-1 Ltd                                                             | CUSIP: 269822AB8<br>LEI: 254900L82OLW9QTLJ788 | Long             | ABS-MBS          | CORP              | US        |    499299 | PA      | $488763.55    | 0.85%             | 2029-04-25      | Floating      | 6.19%                 | No            |                  2 | On Loan: No      |
| GM Financial Securitized Term               | GM Financial Consumer Automobile Receivables Trust 2019-3                       | CUSIP: 36257PAF5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    410000 | PA      | $406284.48    | 0.71%             | 2024-12-16      | Fixed         | 2.32%                 | No            |                  2 | On Loan: No      |
| MVW Owner Trust                             | MVW 2021-2 LLC                                                                  | CUSIP: 55400KAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    237599 | PA      | $213056.39    | 0.37%             | 2039-05-20      | Fixed         | 1.83%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA                    | Volkswagen Group of America Finance LLC                                         | CUSIP: 928668BJ0<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    260000 | PA      | $249644.64    | 0.44%             | 2023-11-22      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| AMERICAN ELECTRIC POWER                     | American Electric Power Co Inc                                                  | CUSIP: 025537AQ4<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |    400000 | PA      | $386349.17    | 0.68%             | 2023-11-01      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                         | COMM 2014-CCRE15 Mortgage Trust                                                 | CUSIP: 12591RAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $467555.92    | 0.82%             | 2047-02-10      | Variable      | 4.67%                 | No            |                  2 | On Loan: No      |
| GE HEALTHCARE TECH INC                      | GE HealthCare Technologies Inc                                                  | CUSIP: 36267VAA1<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |    475000 | PA      | $476523.87    | 0.83%             | 2024-11-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                    | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175BQ6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $296380.89    | 0.52%             | 2024-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN ENER PART                     | Kinder Morgan Energy Partners LP                                                | CUSIP: 494550BV7<br>LEI: 549300PDHUGWPWGOT525 | Long             | DBT              | CORP              | US        |    200000 | PA      | $196771.73    | 0.34%             | 2024-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Ford Credit Auto Lease Trust                | Ford Credit Auto Lease Trust 2021-A                                             | CUSIP: 34532QAF5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | PA      | $293020.49    | 0.51%             | 2025-09-15      | Fixed         | 0.78%                 | No            |                  2 | On Loan: No      |
| WESTERN DIGITAL CORP                        | Western Digital Corp                                                            | CUSIP: 958102AM7<br>LEI: 549300QQXOOYEF89IC56 | Long             | DBT              | CORP              | US        |    225000 | PA      | $211668.74    | 0.37%             | 2026-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                      | General Motors Financial Co Inc                                                 | CUSIP: 37045XCL8<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    150000 | PA      | $149230.89    | 0.26%             | 2023-06-19      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| APTIV PLC / APTIV CORP                      | Aptiv PLC / Aptiv Corp                                                          | CUSIP: 00217GAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | JE        |    365000 | PA      | $344223.12    | 0.60%             | 2025-02-18      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables               | Exeter Automobile Receivables Trust 2022-1                                      | CUSIP: 30167JAF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    330000 | PA      | $303539.38    | 0.53%             | 2028-06-15      | Fixed         | 3.02%                 | 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        |    300000 | PA      | $299863.25    | 0.52%             | 2027-03-15      | Fixed         | 5.97%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                            | Crown Castle Inc                                                                | CUSIP: 22822VAS0<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |    275000 | PA      | $250029.98    | 0.44%             | 2025-07-15      | Fixed         | 1.35%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC                                 | Freddie Mac REMICS                                                              | CUSIP: 31392TLZ8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      1541 | PA      | $1563.03      | 0.00%             | 2032-03-15      | Floating      | 5.32%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                    | Lloyds Banking Group PLC                                                        | CUSIP: 53944YAT0<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    510000 | PA      | $498197.10    | 0.87%             | 2026-08-11      | Fixed         | 4.72%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl              | Santander Drive Auto Receivables Trust 2021-1                                   | CUSIP: 80286NAG1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    400000 | PA      | $377789.07    | 0.66%             | 2026-11-16      | Fixed         | 1.13%                 | No            |                  2 | On Loan: No      |
| CONTINENTAL RESOURCES                       | Continental Resources Inc/OK                                                    | CUSIP: 212015AU5<br>LEI: XXRTID9RYWOZ0UPIVR53 | Long             | DBT              | CORP              | US        |    400000 | PA      | $346888.80    | 0.61%             | 2026-11-15      | Fixed         | 2.27%                 | No            |                  2 | On Loan: No      |
| KYNDRYL HOLDINGS INC                        | Kyndryl Holdings Inc                                                            | CUSIP: 50155QAJ9<br>LEI: 549300LQ4LWX2R8ZV130 | Long             | DBT              | CORP              | US        |    260000 | PA      | $214970.89    | 0.38%             | 2026-10-15      | Fixed         | 2.05%                 | 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        |    325000 | PA      | $314227.21    | 0.55%             | 2025-07-21      | Fixed         | 1.01%                 | No            |                  2 | 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    | 0.86%             | 2027-06-15      | Floating      | 8.22%                 | No            |                  2 | On Loan: No      |
| LEIDOS INC                                  | Leidos Inc                                                                      | CUSIP: 52532XAB1<br>LEI: 5493006I78VIN6J1BQ95 | Long             | DBT              | CORP              | US        |    375000 | PA      | $371766.40    | 0.65%             | 2023-05-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| HEALTH CARE SERVICE CORP                    | Health Care Service Corp A Mutual Legal Reserve Co                              | CUSIP: 42218SAD0<br>LEI: 549300TMJ1FKCKECR148 | Long             | DBT              | CORP              | US        |    250000 | PA      | $227837.04    | 0.40%             | 2025-06-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                     | Carmax Auto Owner Trust 2019-4                                                  | CUSIP: 14315WAG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    310000 | PA      | $300658.26    | 0.53%             | 2025-09-15      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC                                 | Freddie Mac REMICS                                                              | CUSIP: 3137A4LH8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       392 | PA      | $393.46       | 0.00%             | 2040-11-15      | Floating      | 4.82%                 | 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    | 0.34%             | 2041-12-25      | Floating      | 5.83%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO                                 | Southern Co/The                                                                 | CUSIP: 842587DC8<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |    190000 | PA      | $187616.20    | 0.33%             | 2024-08-01      | Variable      | 4.47%                 | No            |                  2 | On Loan: No      |
| NUTRIEN LTD                                 | Nutrien Ltd                                                                     | CUSIP: 67077MAY4<br>LEI: 5493002QQ7GD21OWF963 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $102209.60    | 0.18%             | 2025-11-07      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                           | HSBC Holdings PLC                                                               | CUSIP: 404280CS6<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $185015.47    | 0.32%             | 2025-05-24      | Fixed         | 0.98%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                | Barclays PLC                                                                    | CUSIP: 06738EBZ7<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    510000 | PA      | $506495.74    | 0.89%             | 2026-08-09      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| TRANE TECHNOLOGIES LUX                      | Trane Technologies Luxembourg Finance SA                                        | CUSIP: 456873AB4<br>LEI: 549300GHBOWCVY92IS29 | Long             | DBT              | CORP              | LU        |    250000 | PA      | $243288.66    | 0.43%             | 2024-11-01      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                         | Charles Schwab Corp/The                                                         | CUSIP: 808513BZ7<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    390000 | PA      | $379296.08    | 0.66%             | 2027-03-03      | Floating      | 5.11%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Fannie Mae Connecticut Avenue Securities                                        | CUSIP: 20754KAA9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | CORP              | US        |    223786 | PA      | $217671.58    | 0.38%             | 2041-11-25      | Floating      | 4.83%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                    | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                       | CUSIP: 00774MAK1<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    300000 | PA      | $297139.52    | 0.52%             | 2024-01-16      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| TAKE-TWO INTERACTIVE SOF                    | Take-Two Interactive Software Inc                                               | CUSIP: 874054AE9<br>LEI: BOMSTHHJK882EWYX3334 | Long             | DBT              | CORP              | US        |    575000 | PA      | $561179.68    | 0.98%             | 2024-03-28      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| CNH INDUSTRIAL CAP LLC                      | CNH Industrial Capital LLC                                                      | CUSIP: 12592BAM6<br>LEI: 549300PNSJ5B81UMVO28 | Long             | DBT              | CORP              | US        |    300000 | PA      | $265227.95    | 0.46%             | 2026-07-15      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| MITSUBISHI UFJ FIN GRP                      | Mitsubishi UFJ Financial Group Inc                                              | CUSIP: 606822CQ5<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |    675000 | PA      | $670702.95    | 1.17%             | 2025-09-12      | Fixed         | 5.06%                 | No            |                  2 | On Loan: No      |
| MICROCHIP TECHNOLOGY INC                    | Microchip Technology Inc                                                        | CUSIP: 595017BB9<br>LEI: 5493007PTFULNYZJ1R12 | Long             | DBT              | CORP              | US        |    375000 | PA      | $356516.99    | 0.62%             | 2024-02-15      | Fixed         | 0.97%                 | 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    | 0.66%             | 2039-03-15      | Floating      | 7.19%                 | No            |                  2 | On Loan: No      |
| GA GLOBAL FUNDING TRUST                     | GA Global Funding Trust                                                         | CUSIP: 36143L2G9<br>LEI: 54930029I8ROQ4OROZ88 | Long             | DBT              | CORP              | US        |    300000 | PA      | $264556.42    | 0.46%             | 2027-01-06      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN                    | Rogers Communications Inc                                                       | CUSIP: 775109CA7<br>LEI: 54930030NVF3Y2OL0A78 | Long             | DBT              | CORP              | CA        |    250000 | PA      | $238407.87    | 0.42%             | 2025-03-15      | Fixed         | 2.95%                 | 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    | 0.54%             | 2037-01-16      | Floating      | 5.68%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE FINANCIAL INC                    | Corebridge Financial Inc                                                        | CUSIP: 21871XAA7<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |    275000 | PA      | $263593.55    | 0.46%             | 2025-04-04      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CENTERPOINT ENERGY INC                      | CenterPoint Energy Inc                                                          | CUSIP: 15189TBA4<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | DBT              | CORP              | US        |    250000 | PA      | $222103.12    | 0.39%             | 2026-06-01      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE                                  | Fannie Mae REMICS                                                               | CUSIP: 31398FM57<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      1407 | PA      | $1410.57      | 0.00%             | 2039-11-25      | Floating      | 5.14%                 | No            |                  2 | On Loan: No      |
| CAMDEN PROPERTY TRUST                       | Camden Property Trust                                                           | CUSIP: 133131AS1<br>LEI: 5493002MYX22OHYJBD89 | Long             | DBT              | CORP              | US        |    149000 | PA      | $148571.53    | 0.26%             | 2023-06-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ALBEMARLE CORP                              | Albemarle Corp                                                                  | CUSIP: 012653AD3<br>LEI: HDBLS2Q6GV1LSKQPBS54 | Long             | DBT              | CORP              | US        |    500000 | PA      | $488909.17    | 0.85%             | 2027-06-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Verizon Owner Trust                         | Verizon Owner Trust 2019-C                                                      | CUSIP: 92348AAC9<br>LEI: 549300WANFF5OIMC3D47 | Long             | ABS-O            | CORP              | US        |    275000 | PA      | $273915.66    | 0.48%             | 2024-04-22      | Fixed         | 2.06%                 | No            |                  2 | On Loan: No      |
| MICROCHIP TECHNOLOGY INC                    | Microchip Technology Inc                                                        | CUSIP: 595017BC7<br>LEI: 5493007PTFULNYZJ1R12 | Long             | DBT              | CORP              | US        |    100000 | PA      | $92742.77     | 0.16%             | 2024-09-01      | Fixed         | 0.98%                 | No            |                  2 | On Loan: No      |
| REALTY INCOME CORP                          | Realty Income Corp                                                              | CUSIP: 756109BD5<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              | CORP              | US        |    250000 | PA      | $248320.78    | 0.43%             | 2024-02-06      | Fixed         | 4.60%                 | 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        |    430000 | PA      | $385888.66    | 0.67%             | 2028-09-11      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| Tesla Auto Lease Trust                      | Tesla Auto Lease Trust 2021-B                                                   | CUSIP: 88161KAG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    425000 | PA      | $389118.43    | 0.68%             | 2025-09-22      | Fixed         | 1.32%                 | No            |                  2 | On Loan: No      |
| Helios Issuer, LLC                          | SUNNOVA HELIOS II ISSUER LLC 2019-A                                             | CUSIP: 86745LAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    446521 | PA      | $396854.59    | 0.69%             | 2046-06-20      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust              | Carvana Auto Receivables Trust 2021-N1                                          | CUSIP: 14687DAD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    360783 | PA      | $347172.98    | 0.61%             | 2028-01-10      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| FELLS POINT FUNDING TR                      | Fells Point Funding Trust                                                       | CUSIP: 314382AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $227694.69    | 0.40%             | 2027-01-31      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON INGALLS INDUS                    | Huntington Ingalls Industries Inc                                               | CUSIP: 446413AW6<br>LEI: 5TZLZ6WJTBVJ0QWBG121 | Long             | DBT              | CORP              | US        |    300000 | PA      | $291222.20    | 0.51%             | 2023-08-16      | Fixed         | 0.67%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables               | Exeter Automobile Receivables Trust 2019-3                                      | CUSIP: 30167EAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    810000 | PA      | $790048.62    | 1.38%             | 2026-08-17      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| US Government Money Market Fund             | US Government Money Market Fund                                                 | CUSIP: 74926P696<br>LEI: 549300RFDC5U7WLJKO50 | Long             | STIV             | RF                | US        |    931421 | NS      | $931420.63    | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| GSK CONSUMER HEALTHCARE                     | GSK Consumer Healthcare Capital UK PLC                                          | CUSIP: 36264NAB0<br>LEI: 5493004B26DRJNN0OV17 | Long             | DBT              | CORP              | GB        |    525000 | PA      | $499986.43    | 0.87%             | 2025-03-24      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage T              | Ellington Financial Mortgage Trust 2019-2                                       | CUSIP: 31573TAD0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $424522.67    | 0.74%             | 2059-11-25      | Variable      | 3.47%                 | 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        |    110000 | PA      | $108997.10    | 0.19%             | 2042-03-25      | Floating      | 7.03%                 | No            |                  2 | On Loan: No      |
| ONEOK PARTNERS LP                           | ONEOK Partners LP                                                               | CUSIP: 68268NAL7<br>LEI: T4DHW82NMF6BXJT50795 | Long             | DBT              | CORP              | US        |    250000 | PA      | $249174.83    | 0.44%             | 2023-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ATHENE GLOBAL FUNDING                       | Athene Global Funding                                                           | CUSIP: 04685A2Z3<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |    250000 | PA      | $215363.85    | 0.38%             | 2026-06-29      | Fixed         | 1.61%                 | No            |                  2 | On Loan: No      |
| BECTON DICKINSON AND CO                     | Becton Dickinson and Co                                                         | CUSIP: 075887BV0<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | DBT              | CORP              | US        |    182000 | PA      | $177552.51    | 0.31%             | 2024-06-06      | Fixed         | 3.36%                 | No            |                  2 | On Loan: No      |
| AmeriCredit Automobile Receiva              | AmeriCredit Automobile Receivables Trust 2019-3                                 | CUSIP: 03066NAG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    455000 | PA      | $436452.99    | 0.76%             | 2025-09-18      | Fixed         | 2.58%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Trust 2022-IND                                                               | CUSIP: 05609WAL7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    410778 | PA      | $387559.20    | 0.68%             | 2037-04-15      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC                           | Kinder Morgan Inc                                                               | CUSIP: 49456BAF8<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |    250000 | PA      | $245417.48    | 0.43%             | 2025-06-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| INTL FLAVOR & FRAGRANCES                    | International Flavors & Fragrances Inc                                          | CUSIP: 459506AN1<br>LEI: BZLRL03D3GPGMOGFO832 | Long             | DBT              | CORP              | US        |    100000 | PA      | $88414.33     | 0.15%             | 2025-10-01      | Fixed         | 1.23%                 | No            |                  2 | On Loan: No      |
| AmeriCredit Automobile Receiva              | Americredit Automobile Receivables Trust 2019-2                                 | CUSIP: 03066KAG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    105132 | PA      | $103966.17    | 0.18%             | 2025-04-18      | Fixed         | 2.74%                 | No            |                  2 | On Loan: No      |
| SMRT                                        | SMRT 2022-MINI                                                                  | CUSIP: 78457JAL6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    400000 | PA      | $371863.74    | 0.65%             | 2039-01-15      | Floating      | 6.29%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC                           | Kinder Morgan Inc                                                               | CUSIP: 49456BAU5<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |    125000 | PA      | $110294.42    | 0.19%             | 2026-11-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA                      | Santander Holdings USA Inc                                                      | CUSIP: 80282KBD7<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |    300000 | PA      | $290736.82    | 0.51%             | 2025-06-09      | Fixed         | 4.26%                 | No            |                  2 | On Loan: No      |
| ZIMMER BIOMET HOLDINGS                      | Zimmer Biomet Holdings Inc                                                      | CUSIP: 98956PAU6<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | DBT              | CORP              | US        |    240000 | PA      | $223361.37    | 0.39%             | 2024-11-22      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| Drive Auto Receivables Trust                | Drive Auto Receivables Trust 2019-4                                             | CUSIP: 26209AAG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     43402 | PA      | $42622.11     | 0.07%             | 2027-02-16      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| 7-ELEVEN INC                                | 7-Eleven Inc                                                                    | CUSIP: 817826AB6<br>LEI: 549300K23JPL0SS3LB18 | Long             | DBT              | CORP              | US        |    200000 | PA      | $190250.69    | 0.33%             | 2024-02-10      | Fixed         | 0.80%                 | No            |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC                         | Global Payments Inc                                                             | CUSIP: 37940XAF9<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |    225000 | PA      | $209359.07    | 0.37%             | 2024-11-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| JACKSON FINANCIAL INC                       | Jackson Financial Inc                                                           | CUSIP: 46817MAJ6<br>LEI: 213800WXW2KG1N4CO374 | Long             | DBT              | CORP              | US        |    100000 | PA      | $96409.16     | 0.17%             | 2023-11-22      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                    | Ford Motor Credit Co LLC                                                        | CUSIP: 345397WW9<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    500000 | PA      | $477607.92    | 0.84%             | 2024-09-08      | Fixed         | 3.66%                 | No            |                  2 | On Loan: No      |
| ATHENE GLOBAL FUNDING                       | Athene Global Funding                                                           | CUSIP: 04685A3D1<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |    125000 | PA      | $107442.19    | 0.19%             | 2026-10-02      | Fixed         | 1.73%                 | No            |                  2 | On Loan: No      |
| Tesla Auto Lease Trust                      | Tesla Auto Lease Trust 2020-A                                                   | CUSIP: 88167HAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    310000 | PA      | $307503.60    | 0.54%             | 2024-01-22      | Fixed         | 1.18%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                         | American Tower Corp                                                             | CUSIP: 03027XAB6<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |    200000 | PA      | $199773.72    | 0.35%             | 2023-01-31      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| AMERICAN ELECTRIC POWER                     | American Electric Power Co Inc                                                  | CUSIP: 025537AK7<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |    100000 | PA      | $96278.42     | 0.17%             | 2024-03-15      | Fixed         | 2.03%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                       | Wells Fargo & Co                                                                | CUSIP: 95000U2V4<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    420000 | PA      | $389372.68    | 0.68%             | 2028-03-24      | Fixed         | 3.53%                 | No            |                  2 | On Loan: No      |
| Vista Point Securitization Tru              | Vista Point Securitization Trust 2020-1                                         | CUSIP: 92838WAD6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $460608.19    | 0.81%             | 2065-03-25      | Variable      | 4.15%                 | No            |                  2 | On Loan: No      |
| VMWARE INC                                  | VMware Inc                                                                      | CUSIP: 928563AH8<br>LEI: 549300BUDHS3LRWBE814 | Long             | DBT              | CORP              | US        |    250000 | PA      | $232554.56    | 0.41%             | 2024-08-15      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| SIMON PROPERTY GROUP LP                     | Simon Property Group LP                                                         | CUSIP: 828807DR5<br>LEI: MR92GTD0MJTTTTQDVG45 | Long             | DBT              | CORP              | US        |    275000 | PA      | $272707.83    | 0.48%             | 2024-01-11      | Floating      | 4.08%                 | No            |                  2 | On Loan: No      |
| NUTRIEN LTD                                 | Nutrien Ltd                                                                     | CUSIP: 67077MAZ1<br>LEI: 5493002QQ7GD21OWF963 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $101244.37    | 0.18%             | 2024-11-07      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| NOMURA HOLDINGS INC                         | Nomura Holdings Inc                                                             | CUSIP: 65535HBE8<br>LEI: 549300B3CEAHYG7K8164 | Long             | DBT              | CORP              | JP        |    350000 | PA      | $346447.12    | 0.61%             | 2025-07-03      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                     | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GZH0<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    220000 | PA      | $210544.86    | 0.37%             | 2025-01-24      | Fixed         | 1.76%                 | No            |                  2 | On Loan: No      |
| CENTERPOINT ENERGY RES                      | CenterPoint Energy Resources Corp                                               | CUSIP: 15189WAM2<br>LEI: 2JADVB0458J06WCD4N56 | Long             | DBT              | CORP              | US        |    275000 | PA      | $273035.76    | 0.48%             | 2023-03-02      | Fixed         | 0.70%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Commercial Mortgage Trust 2021-XL2                                           | CUSIP: 05609KAG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    254847 | PA      | $239716.91    | 0.42%             | 2038-10-15      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE LONDON                      | Credit Agricole SA/London                                                       | CUSIP: 22535WAE7<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |    500000 | PA      | $497359.33    | 0.87%             | 2023-04-24      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                               | Citigroup Inc                                                                   | CUSIP: 172967MZ1<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    350000 | PA      | $334356.08    | 0.58%             | 2027-06-09      | Floating      | 4.96%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                    | Vistra Operations Co LLC                                                        | CUSIP: 92840VAL6<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    310000 | PA      | $303422.00    | 0.53%             | 2025-05-13      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| AMEREN CORP                                 | Ameren Corp                                                                     | CUSIP: 023608AL6<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | DBT              | CORP              | US        |    275000 | PA      | $242006.59    | 0.42%             | 2027-03-15      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| JDE PEET'S NV                               | JDE Peet's NV                                                                   | CUSIP: 47216QAA1<br>LEI: 724500EHG519SE5ZRT89 | Long             | DBT              | CORP              | NL        |    400000 | PA      | $365736.43    | 0.64%             | 2024-09-24      | Fixed         | 0.80%                 | No            |                  2 | On Loan: No      |
| EMERA US FINANCE LP                         | Emera US Finance LP                                                             | CUSIP: 29103DAS5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    280000 | PA      | $261990.76    | 0.46%             | 2024-06-15      | Fixed         | 0.83%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES LP                          | VICI Properties LP                                                              | CUSIP: 925650AA1<br>LEI: 254900X4QE7SGKQLLN38 | Long             | DBT              | CORP              | US        |    110000 | PA      | $107128.22    | 0.19%             | 2025-05-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Dell Equipment Finance Trust                | Dell Equipment Finance Trust 2021-2                                             | CUSIP: 24702VAL6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    470000 | PA      | $441587.69    | 0.77%             | 2027-06-22      | Fixed         | 1.21%                 | No            |                  2 | On Loan: No      |
| BRUNSWICK CORP                              | Brunswick Corp/DE                                                               | CUSIP: 117043AS8<br>LEI: YM4O38W15AX4YLLQKU27 | Long             | DBT              | CORP              | US        |    175000 | PA      | $161708.76    | 0.28%             | 2024-08-18      | Fixed         | 0.85%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                          | Energy Transfer LP                                                              | CUSIP: 29278NAH6<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    250000 | PA      | $246531.51    | 0.43%             | 2024-04-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| EMD FINANCE LLC                             | EMD Finance LLC                                                                 | CUSIP: 26867LAL4<br>LEI: 529900C8KS5G529A0B76 | Long             | DBT              | CORP              | US        |    250000 | PA      | $240052.39    | 0.42%             | 2025-03-19      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                | UBS Group AG                                                                    | CUSIP: 902613AM0<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    600000 | PA      | $585505.38    | 1.02%             | 2026-05-12      | Fixed         | 4.49%                 | No            |                  2 | On Loan: No      |
| ROPER TECHNOLOGIES INC                      | Roper Technologies Inc                                                          | CUSIP: 776743AH9<br>LEI: 54930003T4SXCIWVXY35 | Long             | DBT              | CORP              | US        |    225000 | PA      | $214657.51    | 0.38%             | 2024-09-15      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl              | Santander Drive Auto Receivables Trust 2021-3                                   | CUSIP: 80287EAF2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $468925.58    | 0.82%             | 2027-09-15      | Fixed         | 1.33%                 | No            |                  2 | On Loan: No      |
| JBS USA/FOOD/FINANCE                        | JBS USA LUX SA / JBS USA Food Co / JBS USA Finance Inc                          | CUSIP: 46590XAR7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $174992.67    | 0.31%             | 2027-01-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| EVERSOURCE ENERGY                           | Eversource Energy                                                               | CUSIP: 30040WAS7<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | DBT              | CORP              | US        |    335000 | PA      | $331116.59    | 0.58%             | 2024-06-27      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| OGE ENERGY CORP                             | OGE Energy Corp                                                                 | CUSIP: 670837AC7<br>LEI: CE5OG6JPOZMDSA0LAQ19 | Long             | DBT              | CORP              | US        |    325000 | PA      | $319197.60    | 0.56%             | 2023-05-26      | Fixed         | 0.70%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                    | Warnermedia Holdings Inc                                                        | CUSIP: 55903VAC7<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    180000 | PA      | $174701.22    | 0.31%             | 2024-03-15      | Fixed         | 3.43%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                 | BNP Paribas SA                                                                  | CUSIP: 09659W2E3<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    550000 | PA      | $548674.57    | 0.96%             | 2023-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                      | Pacific Gas and Electric Co                                                     | CUSIP: 694308JY4<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    325000 | PA      | $314478.85    | 0.55%             | 2023-11-15      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| SKYWORKS SOLUTIONS INC                      | Skyworks Solutions Inc                                                          | CUSIP: 83088MAJ1<br>LEI: 549300WZ3ORQ2BVKBD96 | Long             | DBT              | CORP              | US        |    125000 | PA      | $122441.66    | 0.21%             | 2023-06-01      | Fixed         | 0.90%                 | No            |                  2 | On Loan: No      |
| HCA INC                                     | HCA Inc                                                                         | CUSIP: 404119BR9<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    350000 | PA      | $349622.64    | 0.61%             | 2025-02-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                | Enbridge Inc                                                                    | CUSIP: 29250NBG9<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    225000 | PA      | $217493.62    | 0.38%             | 2023-10-04      | Fixed         | 0.55%                 | No            |                  2 | On Loan: No      |
| GM Financial Securitized Term               | GM Financial Consumer Automobile Receivables Trust 2019-3                       | CUSIP: 36257PAG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    120000 | PA      | $118952.40    | 0.21%             | 2025-01-16      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl              | Santander Drive Auto Receivables Trust 2021-4                                   | CUSIP: 80285VAF6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $184694.24    | 0.32%             | 2027-10-15      | Fixed         | 1.67%                 | No            |                  2 | On Loan: No      |
| QORVO INC                                   | Qorvo Inc                                                                       | CUSIP: 74739DAA2<br>LEI: 254900YAUJV2EUEVBR11 | Long             | DBT              | CORP              | US        |    300000 | PA      | $276790.54    | 0.48%             | 2024-12-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Santander Revolving Auto Loan               | Santander Revolving Auto Loan Trust 2019-A                                      | CUSIP: 80286JAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    562000 | PA      | $511019.80    | 0.89%             | 2032-01-26      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR REMIC Trust 2022-DNA3                                         | CUSIP: 35564KUW7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    208959 | PA      | $208176.87    | 0.36%             | 2042-04-25      | Floating      | 5.93%                 | No            |                  2 | On Loan: No      |
| DAIMLER TRUCKS FINAN NA                     | Daimler Trucks Finance North America LLC                                        | CUSIP: 233853AK6<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |    275000 | PA      | $273872.45    | 0.48%             | 2024-04-05      | Floating      | 4.62%                 | No            |                  2 | On Loan: No      |
| WALT DISNEY COMPANY/THE                     | Walt Disney Co/The                                                              | CUSIP: 254687CT1<br>LEI: 549300GZKULIZ0WOW665 | Long             | DBT              | CORP              | US        |    196000 | PA      | $200921.42    | 0.35%             | 2024-01-20      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| EVERGY INC                                  | Evergy Inc                                                                      | CUSIP: 30034WAA4<br>LEI: 549300PGTHDQY6PSUI61 | Long             | DBT              | CORP              | US        |    500000 | PA      | $475062.73    | 0.83%             | 2024-09-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl              | Santander Drive Auto Receivables Trust 2021-2                                   | CUSIP: 80286XAF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    400000 | PA      | $373748.86    | 0.65%             | 2027-07-15      | Fixed         | 1.35%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                         | JPMorgan Chase & Co                                                             | CUSIP: 46647PAW6<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    200000 | PA      | $199142.10    | 0.35%             | 2024-07-23      | Floating      | 5.21%                 | 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        |    566000 | PA      | $521154.87    | 0.91%             | 2029-03-15      | Fixed         | 1.39%                 | 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    | 0.36%             | 2036-10-15      | Floating      | 5.74%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl              | Santander Drive Auto Receivables Trust 2019-3                                   | CUSIP: 80286HAG4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     39116 | PA      | $38800.06     | 0.07%             | 2025-10-15      | Fixed         | 2.68%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE                                  | Fannie Mae REMICS                                                               | CUSIP: 31392BBU9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      1831 | PA      | $1853.67      | 0.00%             | 2031-10-25      | Floating      | 5.34%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                     | Carmax Auto Owner Trust 2019-3                                                  | CUSIP: 14315PAG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    250000 | PA      | $244469.31    | 0.43%             | 2025-06-16      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                     | CarMax Auto Owner Trust 2020-2                                                  | CUSIP: 14315VAH5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    506000 | PA      | $495792.63    | 0.87%             | 2027-05-17      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| TELEDYNE TECHNOLOGIES IN                    | Teledyne Technologies Inc                                                       | CUSIP: 879360AB1<br>LEI: 549300VSMO9KYQWDND94 | Long             | DBT              | CORP              | US        |    425000 | PA      | $402509.92    | 0.70%             | 2024-04-01      | Fixed         | 0.95%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust              | Carvana Auto Receivables Trust 2021-N3                                          | CUSIP: 14687GAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $459654.31    | 0.80%             | 2028-06-12      | Fixed         | 1.58%                 | No            |                  2 | On Loan: No      |
| VIDEOTRON LTD                               | Videotron Ltd                                                                   | CUSIP: 92660FAG9<br>LEI: 549300LW4GNJRBECSD81 | Long             | DBT              | CORP              | CA        |    500000 | PA      | $496235.95    | 0.87%             | 2024-06-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA                    | Volkswagen Group of America Finance LLC                                         | CUSIP: 928668AR3<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    250000 | PA      | $247219.58    | 0.43%             | 2023-11-13      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Drive Auto Receivables Trust                | Drive Auto Receivables Trust 2021-1                                             | CUSIP: 262108AF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    400000 | PA      | $376471.54    | 0.66%             | 2029-01-16      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2022-R03                                    | CUSIP: 20753XAB0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $251900.22    | 0.44%             | 2042-03-25      | Floating      | 7.43%                 | No            |                  2 | On Loan: No      |
| TSMC ARIZONA CORP                           | TSMC Arizona Corp                                                               | CUSIP: 872898AA9<br>LEI: 2549005GOBWLCSY63Q97 | Long             | DBT              | CORP              | US        |    200000 | PA      | $177530.38    | 0.31%             | 2026-10-25      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                         | American Tower Corp                                                             | CUSIP: 03027XAD2<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |    500000 | PA      | $498925.39    | 0.87%             | 2024-02-15      | Fixed         | 5.00%                 | 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    | 0.78%             | 2042-02-25      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                     | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GXZ2<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    250000 | PA      | $247005.09    | 0.43%             | 2024-03-08      | Fixed         | 0.67%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC                                 | Freddie Mac REMICS                                                              | CUSIP: 31392KYV2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      1397 | PA      | $1416.77      | 0.00%             | 2032-03-15      | Floating      | 5.32%                 | No            |                  2 | On Loan: No      |
| CONSOLIDATED EDISON INC                     | Consolidated Edison Inc                                                         | CUSIP: 209115AE4<br>LEI: 54930033SBW53OO8T749 | Long             | DBT              | CORP              | US        |    370000 | PA      | $355400.91    | 0.62%             | 2023-12-01      | Fixed         | 0.65%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                              | Morgan Stanley                                                                  | CUSIP: 61747YEG6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    150000 | PA      | $138019.28    | 0.24%             | 2025-10-21      | Fixed         | 1.16%                 | No            |                  2 | On Loan: No      |
| PERKINELMER INC                             | PerkinElmer Inc                                                                 | CUSIP: 714046AL3<br>LEI: 549300IKL1SDPFI7N655 | Long             | DBT              | CORP              | US        |    275000 | PA      | $255083.53    | 0.45%             | 2024-09-15      | Fixed         | 0.85%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON NATIONAL BANK                    | Huntington National Bank/The                                                    | CUSIP: 44644MAH4<br>LEI: 2WHM8VNJH63UN14OL754 | Long             | DBT              | CORP              | US        |    455000 | PA      | $456382.04    | 0.80%             | 2025-11-18      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                   | Boeing Co/The                                                                   | CUSIP: 097023DG7<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    150000 | PA      | $136338.24    | 0.24%             | 2026-02-04      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| BAKER HUGHES LLC/CO-OBL                     | Baker Hughes Holdings LLC / Baker Hughes Co-Obligor Inc                         | CUSIP: 05724BAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $89626.51     | 0.16%             | 2026-12-15      | Fixed         | 2.06%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                                | CUSIP: 91282CDA6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3000000 | PA      | $2901562.50   | 5.07%             | 2023-09-30      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC                                 | Freddie Mac REMICS                                                              | CUSIP: 31393V4V0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       539 | PA      | $537.07       | 0.00%             | 2023-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tesla Auto Lease Trust                      | Tesla Auto Lease Trust 2021-A                                                   | CUSIP: 88161FAG1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $472536.44    | 0.83%             | 2025-03-20      | Fixed         | 1.34%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                 | Oracle Corp                                                                     | CUSIP: 68389XCF0<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    295000 | PA      | $301332.83    | 0.53%             | 2025-11-10      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| GM Financial Securitized Term               | GM Financial Consumer Automobile Receivables Trust 2020-1                       | CUSIP: 36258NAF9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     60000 | PA      | $58416.19     | 0.10%             | 2025-05-16      | Fixed         | 2.18%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                         | JPMorgan Chase & Co                                                             | CUSIP: 46647PDE3<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    430000 | PA      | $420731.54    | 0.74%             | 2025-06-14      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                       | Wells Fargo & Co                                                                | CUSIP: 95000U2X0<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    360000 | PA      | $349647.12    | 0.61%             | 2026-04-25      | Fixed         | 3.91%                 | No            |                  2 | On Loan: No      |
| DNB BANK ASA                                | DNB Bank ASA                                                                    | CUSIP: 23329PAG5<br>LEI: 549300GKFG0RYRRQ1414 | Long             | DBT              | CORP              | NO        |    200000 | PA      | $174088.21    | 0.30%             | 2027-05-25      | Fixed         | 1.53%                 | No            |                  2 | On Loan: No      |
| AmeriCredit Automobile Receiva              | Americredit Automobile Receivables Trust 2019-1                                 | CUSIP: 03066GAG4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    240000 | PA      | $235917.36    | 0.41%             | 2025-03-18      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| INGERSOLL-RAND GL HLD CO                    | Trane Technologies Global Holding Co Ltd                                        | CUSIP: 45687AAJ1<br>LEI: 549300UCF0D858BIOV83 | Long             | DBT              | CORP              | US        |    400000 | PA      | $398663.54    | 0.70%             | 2023-06-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| AmeriCredit Automobile Receiva              | AmeriCredit Automobile Receivables Trust 2021-1                                 | CUSIP: 03063FAF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    315000 | PA      | $279420.42    | 0.49%             | 2026-12-18      | Fixed         | 1.21%                 | No            |                  2 | On Loan: No      |
| NXP BV/NXP FDG/NXP USA                      | NXP BV / NXP Funding LLC / NXP USA Inc                                          | CUSIP: 62954HAW8<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    100000 | PA      | $94018.54     | 0.16%             | 2025-05-01      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| CONAGRA BRANDS INC                          | Conagra Brands Inc                                                              | CUSIP: 205887CG5<br>LEI: 54930035UDEIH090K650 | Long             | DBT              | CORP              | US        |    275000 | PA      | $267040.09    | 0.47%             | 2023-08-11      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| EQT CORP                                    | EQT Corp                                                                        | CUSIP: 26884LAP4<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |     70000 | PA      | $69873.31     | 0.12%             | 2025-10-01      | Fixed         | 5.68%                 | No            |                  2 | On Loan: No      |
| DUPONT DE NEMOURS INC                       | DuPont de Nemours Inc                                                           | CUSIP: 26078JAH3<br>LEI: 5493004JF0SDFLM8GD76 | Long             | DBT              | CORP              | US        |    350000 | PA      | $349640.37    | 0.61%             | 2023-11-15      | Floating      | 5.72%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                               | Citigroup Inc                                                                   | CUSIP: 172967LZ2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    350000 | PA      | $347669.07    | 0.61%             | 2024-06-01      | Fixed         | 4.04%                 | No            |                  2 | On Loan: No      |
| GE HEALTHCARE TECH INC                      | GE HealthCare Technologies Inc                                                  | CUSIP: 36267VAC7<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |    550000 | PA      | $553325.56    | 0.97%             | 2025-11-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| OZLM Ltd                                    | OZLM VIII Ltd                                                                   | CUSIP: 67107FBN6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $241225.00    | 0.42%             | 2029-10-17      | Floating      | 5.73%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE                            | Societe Generale SA                                                             | CUSIP: 83368RBF8<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    250000 | PA      | $240701.70    | 0.42%             | 2026-01-21      | Floating      | 4.81%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                     | Carmax Auto Owner Trust 2020-1                                                  | CUSIP: 14315XAF5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    175000 | PA      | $168331.22    | 0.29%             | 2025-11-17      | Fixed         | 2.34%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                | Enbridge Inc                                                                    | CUSIP: 29250NAY1<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    500000 | PA      | $473085.34    | 0.83%             | 2025-01-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                               | Citigroup Inc                                                                   | CUSIP: 172967NQ0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    115000 | PA      | $113243.36    | 0.20%             | 2025-05-24      | Fixed         | 4.14%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                      | General Motors Financial Co Inc                                                 | CUSIP: 37045XDQ6<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    265000 | PA      | $247030.43    | 0.43%             | 2027-02-26      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                    | Celanese US Holdings LLC                                                        | CUSIP: 15089QAR5<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |    200000 | PA      | $199894.05    | 0.35%             | 2024-07-05      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                               | Citigroup Inc                                                                   | CUSIP: 172967ND9<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    170000 | PA      | $156609.55    | 0.27%             | 2025-11-03      | Fixed         | 1.28%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                   | Boeing Co/The                                                                   | CUSIP: 097023DE2<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    200000 | PA      | $191317.36    | 0.33%             | 2024-02-04      | Fixed         | 1.43%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                              | Morgan Stanley                                                                  | CUSIP: 61747YEQ4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    355000 | PA      | $346266.12    | 0.61%             | 2025-04-17      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                     | Carmax Auto Owner Trust 2019-1                                                  | CUSIP: 14315NAF7<br>LEI: 549300LQMUNTYT3DC014 | Long             | ABS-O            | CORP              | US        |    335000 | PA      | $334132.72    | 0.58%             | 2025-01-15      | Fixed         | 3.74%                 | No            |                  2 | On Loan: No      |
| GM Financial Securitized Term               | GM Financial Consumer Automobile Receivables Trust 2020-1                       | CUSIP: 36258NAE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     80000 | PA      | $77906.79     | 0.14%             | 2025-04-16      | Fixed         | 2.03%                 | No            |                  2 | On Loan: No      |
| Drive Auto Receivables Trust                | Drive Auto Receivables Trust 2020-1                                             | CUSIP: 26208QAF4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     19820 | PA      | $19785.57     | 0.03%             | 2026-03-16      | Fixed         | 2.36%                 | No            |                  2 | On Loan: No      |
| DELL INT LLC / EMC CORP                     | Dell International LLC / EMC Corp                                               | CUSIP: 24703TAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     80000 | PA      | $80007.11     | 0.14%             | 2023-06-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| VSE VOI Mortgage LLC                        | VSE 2018-A VOI Mortgage LLC                                                     | CUSIP: 918286AC9<br>LEI: 549300E4XED7XGXU7L27 | Long             | ABS-O            | CORP              | US        |    322144 | PA      | $310024.84    | 0.54%             | 2036-02-20      | Fixed         | 4.02%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                    | Capital One Financial Corp                                                      | CUSIP: 14040HCM5<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    235000 | PA      | $220336.78    | 0.39%             | 2026-03-03      | Fixed         | 2.64%                 | 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.