# EDGAR Filing Document

**Accession Number:** 0001618627
**File Stem:** 0001145549-23-004025
**Filing Date:** 2023-1
**Character Count:** 79500
**Document Hash:** 64a63b415c3d24d049048b77f4d39065
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-004025.hdr.sgml**: 20230127

**ACCESSION NUMBER**: 0001145549-23-004025

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230127

**DATE AS OF CHANGE**: 20230127

**PERIOD START**: 20230831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** RBB Fund Trust
- **CENTRAL INDEX KEY:** 0001618627
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23011
- **FILM NUMBER:** 23561939

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

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

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

## Series and Classes Contracts Data

### Penn Capital Floating Rate Income Fund (Series ID: S000048029)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000151492 | Institutional Class | PFRNX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; **Penn Capital Floating Rate Income Fund** | &nbsp;&nbsp;&nbsp;&nbsp; **Penn Capital Floating Rate Income Fund** | &nbsp;&nbsp;&nbsp;&nbsp; **Penn Capital Floating Rate Income Fund** |
| &nbsp;&nbsp;&nbsp;&nbsp; **Schedule of Investments** | &nbsp;&nbsp;&nbsp;&nbsp; **Schedule of Investments** | &nbsp;&nbsp;&nbsp;&nbsp; **Schedule of Investments** |
| &nbsp;&nbsp;&nbsp;&nbsp; **November 30, 2022 (Unaudited)** | &nbsp;&nbsp;&nbsp;&nbsp; **November 30, 2022 (Unaudited)** | &nbsp;&nbsp;&nbsp;&nbsp; **November 30, 2022 (Unaudited)** |
| **Bank Loans: 75.5%**(a)(b) | **Principal** | **Value** |
| **Advertising & Marketing: 0.6%** | | |
| Terrier Media Buyer, Inc., 7.254% (1 Month US LIBOR + 3.500%), 12/17/26 | 194535 | $180431 |
| **Aerospace/Defense: 1.9%** |  |  |
| TransDigm, Inc., 5.924% (1 Month US LIBOR + 2.250%), 8/22/24 | 300000 | 298527 |
| Spirit Aerosystems T/L (11/22), 7.786%, 1/15/27(d) | 250000 | 246668 |
|  |  | 545195 |
| **Apparel & Textile Products: 3.3%** |  |  |
| Calceus Acquisition, Inc., 8.024% (1 Month US LIBOR + 5.500%), 3/31/25 | 362931 | 332688 |
| Canada Goose, Inc., 7.142% (1 Month US LIBOR + 3.500%), 10/7/27 | 345374 | 335444 |
| Crocs, Inc., 7.731%, 2/20/29 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (3 Month SOFR + 3.500%) | 251250 | 242142 |
| &nbsp;&nbsp;&nbsp;&nbsp; (3 Month SOFR + 3.500%) | 45000 | 43369 |
|  |  | 953643 |
| **Asset Management: 2.4%** |  |  |
| Fiserv Investment Solutions, Inc., 6.961% (1 Month US LIBOR + 4.000%), 2/26/27 | 195500 | 184748 |
| Russell Investments US Institutional Holdco, Inc., 7.254%, 5/30/25 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (1 Month US LIBOR + 3.500%) | 138702 | 130034 |
| &nbsp;&nbsp;&nbsp;&nbsp; (1 Month US LIBOR + 3.500%) | 59620 | 55893 |
| The Edelman Financial Engines Center LLC, 7.254% (1 Month US LIBOR + 3.750%), 4/7/28 | 192316 | 183267 |
| Victory Capital Holdings, Inc., 5.962% (1 Month US LIBOR + 2.250%), 7/1/26 | 157809 | 155600 |
|  |  | 709542 |
| **Cable & Satellite: 3.5%** |  |  |
| Cogeco Communications USA II LP, 5.754% (1 Month US LIBOR + 2.000%), 8/9/24 | 239789 | 234394 |
| CSC Holdings LLC, 5.662% (1 Month US LIBOR + 2.250%), 7/17/25 | 236842 | 226421 |
| DirecTV Financing LLC, 8.754% (1 Month US LIBOR + 5.000%), 8/2/27 | 321642 | 307605 |
| Ziggo Financing Partnership, 5.912% (1 Month US LIBOR + 2.500%), 4/17/28 | 250000 | 241703 |
|  |  | 1010123 |
| **Chemicals: 2.6%** |  |  |
| Avient Corp. T/L B (07/22), 6.297% (TSFR1M + 3.250%), 9/30/29 | 218263 | 217104 |
| Gemini HDPE LLC, 7.420% (1 Month US LIBOR + 3.000%), 12/31/27 | 185273 | 180317 |
| Lummus Technology Holdings V LLC, 7.254% (1 Month US LIBOR + 3.500%), 6/30/27 | 186984 | 179192 |
| Schweitzer-Mauduit International, Inc., 7.563% (1 Month US LIBOR + 4.000%), 1/27/28 | 197500 | 184169 |
|  |  | 760782 |
| **Commercial Support Services: 4.4%** |  |  |
| Covanta Holding Corp., 6.229% (1 Month US LIBOR + 2.500%), 12/29/28 | 329445 | 322582 |
| Covanta Holding Corp., 6.254% (1 Month US LIBOR + 2.500%), 12/29/28 | 24800 | 24283 |
| GFL Environmental, Inc., 7.415% (1 Month US LIBOR + 3.000%), 5/30/25 | 196500 | 196009 |
| Prime Security Services T/L, 6.505% (1 Month US LIBOR + 2.750%), 9/23/26 | 278007 | 273804 |
| R1 RCM, Inc. T/L B, 6.729% (TSFR1M + 3.000%), 5/12/29 | 300000 | 294501 |
| TruGreen Limited Parternship T/L, 7.754% (1 Month US LIBOR + 4.000%), 10/29/27 | 196500 | 174590 |
|  |  | 1285769 |
| **Containers & Packaging Manufacturing: 2.7%** |  |  |
| Graham Packaging Co., Inc., 6.754% (1 Month US LIBOR + 3.000%), 8/4/27 | 192993 | 188410 |
| Pactiv Evergreen Group Holdings, Inc., 7.004%, 2/5/26 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (1 Month US LIBOR + 3.250%) | 123242 | 121327 |
| &nbsp;&nbsp;&nbsp;&nbsp; (1 Month US LIBOR + 3.250%) | 45487 | 44781 |
| &nbsp;&nbsp;&nbsp;&nbsp; (1 Month US LIBOR + 3.250%) | 27770 | 27339 |
| Pactiv Evergreen Group Holdings, Inc., 7.254%, 9/20/28 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (1 Month US LIBOR + 3.500%) | 182717 | 179833 |
| &nbsp;&nbsp;&nbsp;&nbsp; (1 Month US LIBOR + 3.500%) | 40225 | 39590 |
| &nbsp;&nbsp;&nbsp;&nbsp; (1 Month US LIBOR + 3.500%) | 24558 | 24170 |
| Sabert Corp., 8.313% (1 Month US LIBOR + 4.500%), 11/26/26 | 169298 | 167182 |
|  |  | 792632 |
| **E-Commerce Discretionary: 0.7%** |  |  |
| CNT Holdings I Corp., 6.248% (1 Month US LIBOR + 3.750%), 10/16/27 | 197000 | 190383 |
| **Electric Utilities: 0.7%** |  |  |
| Vistra Operations Co. LLC, 5.504%, 12/15/25 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (1 Month US LIBOR + 1.750%) | 155456 | 154078 |
| &nbsp;&nbsp;&nbsp;&nbsp; (1 Month US LIBOR + 1.750%) | 38519 | 38177 |
|  |  | 192255 |
| **Engineering & Construction: 1.6%** |  |  |
| Centuri Group, Inc., 5.568%, 9/29/28 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (3 Month US LIBOR + 2.500%) | 162566 | 156419 |
| &nbsp;&nbsp;&nbsp;&nbsp; (1 Month US LIBOR + 2.500%) | 13600 | 13086 |
| Pike Corp., 6.760% (1 Month US LIBOR + 3.000%), 1/21/28 | 296575 | 290505 |
|  |  | 460010 |
| **Entertainment Content: 1.9%** |  |  |
| Alchemy Copyrights LLC, 6.768% (1 Month US LIBOR + 3.000%), 8/5/27 | 176408 | 175085 |
| Playtika Holding Corp., 6.504% (1 Month US LIBOR + 2.750%), 3/13/28 | 197000 | 191768 |
| Univision Communications, Inc., 7.790% (TSFR1M + 4.250%), 6/9/29 | 199500 | 196507 |
|  |  | 563360 |
| **Food Production: 2.5%** |  |  |
| Froneri US, Inc., 6.004%, 1/29/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (1 Month US LIBOR + 2.250%) | 134361 | 130425 |
| &nbsp;&nbsp;&nbsp;&nbsp; (1 Month US LIBOR + 2.250%) | 61139 | 59349 |
| HLF Financing Sarl LLC, 6.254% (1 Month US LIBOR + 2.500%), 8/8/25 | 220000 | 209935 |
| Whole Earth Brands, Inc., 7.050% (1 Month US LIBOR + 4.500%), 2/2/28 | 345867 | 321656 |
|  |  | 721365 |
| **Health Care Facilities & Services: 5.2%** |  |  |
| ADMI Corp., 7.129% (1 Month US LIBOR + 3.250%), 12/23/27 | 345867 | 317765 |
| Cambrex Corp., 7.329% (1 Month US LIBOR + 3.500%), 12/4/26 | 239177 | 231776 |
| FC Compassus LLC, 7.127% (1 Month US LIBOR + 4.250%), 12/31/26 | 194535 | 178486 |
| Option Care Health, Inc., 6.504% (1 Month US LIBOR + 2.750%), 11/30/28 | 297750 | 295764 |
| PetVet Care Centers LLC, 6.504% (1 Month US LIBOR + 2.750%), 2/28/25 | 312114 | 287379 |
| Select Medical Corp., 6.260% (6 Month US LIBOR + 2.500%), 3/6/24 | 212163 | 207985 |
|  |  | 1519155 |
| **Housing: 0.7%** |  |  |
| Foundation Building Materials, Inc., 7.004%, 1/31/28 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (3 Month US LIBOR + 3.250%) | 201925 | 191374 |
| &nbsp;&nbsp;&nbsp;&nbsp; (1 Month US LIBOR + 3.250%) | 513 | 486 |
|  |  | 191860 |
| **Industrial Intermediate Products: 0.7%** |  |  |
| Gates Global LLC, 6.254% (1 Month US LIBOR + 2.750%), 3/31/27 | 197303 | 192370 |
| **Insurance: 1.3%** |  |  |
| Asurion LLC, 7.004% (1 Month US LIBOR + 3.250%), 12/23/26 | 196500 | 171609 |
| HUB International Ltd., 7.327%, 4/18/25 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (3 Month US LIBOR + 2.750%) | 195897 | 192037 |
| &nbsp;&nbsp;&nbsp;&nbsp; (3 Month US LIBOR + 2.750%) | 513 | 503 |
|  |  | 364148 |
| **Internet Media & Services: 3.6%** |  |  |
| Buzz Merger Sub Ltd., 6.504% (1 Month US LIBOR + 2.750%), 1/22/27 | 243750 | 239029 |
| Endurance International Group Holdings, Inc., 7.347% (1 Month US LIBOR + 3.500%), 2/10/28 | 202438 | 183206 |
| Go Daddy Operating Co LLC, 7.042% (TSFR1M + 3.250%), 11/30/29 | 310818 | 309696 |
| Match Group Holdings II LLC, 4.692% (1 Month US LIBOR + 1.750%), 2/7/27 | 200000 | 195750 |
| Shutterfly, Inc., 8.754% (1 Month US LIBOR + 5.000%), 9/25/26 | 200000 | 122126 |
|  |  | 1049807 |
| **Leisure Facilities & Services: 6.7%** |  |  |
| Alterra Mountain Co., 7.254% (1 Month US LIBOR + 3.500%), 8/17/28 | 238838 | 235255 |
| Century Casinos T/L (03/22), 9.120% (TSFR1M + 6.000%), 3/23/29 | 248750 | 236934 |
| Dave & Buster's, Inc., 8.875% (TSFR1M + 5.000%), 6/22/29 | 299250 | 296482 |
| Hilton Grand Vacations LLC, 6.754% (1 Month US LIBOR + 3.000%), 7/31/28 | 247500 | 244872 |
| IRB Holding Corp., 6.504% (1 Month US LIBOR + 2.750%), 2/5/25 | 240679 | 236123 |
| IRB Holding Corp., 6.894% (SOFR + 3.000%), 12/15/27 | 196500 | 188836 |
| Scientific Games Holdings LP, 5.617% (TSFR1M + 3.500%), 2/3/29 | 250000 | 238438 |
| Scientific Games International, Inc., 6.896% (TSFR1M + 3.000%), 4/6/29 | 249375 | 244200 |
|  |  | 1921140 |
| **Machinery Manufacturing: 0.7%** |  |  |
| EWT Holdings III Corp., 6.313% (1 Month US LIBOR + 2.500%), 3/10/28 | 197500 | 194784 |
| **Oil & Gas Producers: 2.5%** |  |  |
| AL GCX Holdings (Arclight) T/L B, 7.565% (TSFR1M + 3.750%), 4/20/29 | 299250 | 296108 |
| CQP Holdco LP, 7.424% (1 Month US LIBOR + 3.750%), 6/5/28 | 246875 | 243357 |
| GIP II Blue Holding LP, 8.174% (1 Month US LIBOR + 4.500%), 9/22/28(d) | 197279 | 195470 |
|  |  | 734935 |
| **Oil & Gas Services & Equipment: 2.0%** |  |  |
| ChampionX T/L B1 (05/22) (Apergy), 6.618%, 5/14/29 | 300000 | 299157 |
| GIP III Stetson I LP, 8.004% (3 Month US LIBOR + 4.250%), 7/18/25 | 290470 | 282990 |
|  |  | 582147 |
| **Pharmaceuticals: 0.8%** |  |  |
| Agiliti Health, Inc., 6.563% (3 Month US LIBOR + 3.000%), 10/18/25 | 243073 | 237604 |
| **Publishing & Broadcasting: 1.5%** |  |  |
| Clear Channel Outdoor Holdings, Inc., 7.254%, 8/7/26 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (3 Month US LIBOR + 3.500%) | 341106 | 311412 |
| &nbsp;&nbsp;&nbsp;&nbsp; (1 Month US LIBOR + 3.500%) | 881 | 805 |
| Cumulus Media New Holdings, Inc., 7.504% (1 Month US LIBOR + 3.750%), 3/30/26 | 145298 | 137306 |
|  |  | 449523 |
| **Retail - Consumer Discretionary: 4.1%** |  |  |
| LBM Acquisition LLC, 7.121% (1 Month US LIBOR + 3.750%), 12/17/27(d) | 210781 | 180888 |
| PetSmart, Inc., 7.500% (1 Month US LIBOR + 3.750%), 2/11/28 | 197500 | 189529 |
| Savers, Inc., 7.750% (1 Month US LIBOR + 5.750%), 4/6/27 | 198000 | 191401 |
| Staples, Inc., 5.786% (1 Month US LIBOR + 4.500%), 9/12/24 | 306774 | 297016 |
| White Cap Buyer LLC, 7.479% (1 Month US LIBOR + 4.000%), 10/8/27 | 344518 | 331299 |
|  |  | 1190133 |
| **Semiconductors: 2.0%** |  |  |
| Entegris, Inc., 6.729%, 3/2/29 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (6 Month SOFR + 3.000%) | 240481 | 238242 |
| &nbsp;&nbsp;&nbsp;&nbsp; (1 Month SOFR + 3.000%) | 59519 | 58965 |
| II-VI, Inc., 6.586% (1 Month US LIBOR + 2.750%), 12/1/28 | 300000 | 296439 |
|  |  | 593646 |
| **Software: 5.2%** |  |  |
| Adeia, Inc., 7.254% (1 Month US LIBOR + 3.500%), 6/1/25 | 345991 | 333881 |
| Azalea TopCo, Inc., 7.254% (1 Month US LIBOR + 3.500%), 7/27/26 | 291000 | 268811 |
| McAfee Corp., 7.636% (TSFR1M + 4.000%), 2/2/29 | 299250 | 283728 |
| UKG, Inc., 6.998% (1 Month US LIBOR + 3.250%), 5/4/26 | 296267 | 285774 |
| Waystar Technologies, Inc., 7.754% (1 Month US LIBOR + 4.000%), 10/31/26 | 346475 | 339546 |
|  |  | 1511740 |
| **Specialty Finance: 0.8%** |  |  |
| TransUnion LLC, 5.504% (1 Month US LIBOR + 1.750%), 11/13/26 | 236718 | 230165 |
| **Specialty Retail: 1.2%** |  |  |
| BDF Acquisition Corp., 10.979% (TSFR1M + 7.250%), 2/12/26 | 370691 | 337021 |
| **Technology Hardware: 0.8%** |  |  |
| Maxar Technologies, Inc., 8.079% (TSFR1M + 4.250%), 6/29/29 | 249375 | 239672 |
| **Technology Services: 2.8%** |  |  |
| NAB Holdings T/L, 6.703% (SOFR + 3.000%), 11/17/28 | 347375 | 336954 |
| Paysafe Holdings US Corp., 6.504% (1 Month US LIBOR + 2.750%), 4/30/25 | 247494 | 228931 |
| Sabre GLBL, Inc. T/L, 8.829% (TSFR1M + 5.000%), 6/30/28 | 250000 | 233750 |
|  |  | 799635 |
| **Telecommnications: 3.4%** |  |  |
| Altice France SA, 8.650% (1 Month US LIBOR + 4.000%), 7/13/26 | 234412 | 225817 |
| Cincinnati Bell, Inc., 7.079% (SOFR + 3.250%), 12/29/28 | 347375 | 340254 |
| Gogo Intermediate Holdings LLC, 6.556% (1 Month US LIBOR + 3.750%), 4/28/28 | 197500 | 195525 |
| Lumen Technologies, Inc., 6.004% (1 Month US LIBOR + 2.250%), 3/15/27 | 243125 | 230159 |
|  |  | 991755 |
| **Transportation & Logistics: 0.7%** |  |  |
| American Airlines, Inc., 8.993% (1 Month US LIBOR + 4.750%), 4/20/28 | 200000 | 198608 |
| **Total Bank Loans (cost $22,578,456)** |  | 21895338 |
| **Corporate Bonds: 11.1%** |  |  |
| **Aerospace/Defense: 0.6%** |  |  |
| TransDigm, Inc., 8.000%, 12/15/25 (c) | 160000 | 162800 |
| **Cable & Satellite: 0.5%** |  |  |
| DISH DBS Corp., 5.875%, 11/15/24 | 150000 | 142539 |
| **Consumer/Commercial/Lease Financing: 0.4%** |  |  |
| Fortress Transportation and Infrastructure Investors LLC, 6.500%, 10/1/25 (c) | 122000 | 117175 |
| **Food - Wholesale: 0.4%** |  |  |
| KeHE Distributors LLC, 8.625%, 10/15/26 (c) | 109000 | 107365 |
| **Gaming: 0.7%** |  |  |
| International Game Technology PLC, 6.500%, 2/15/25 (c) | 200000 | 201029 |
| **Gas Distirbution: 0.6%** |  |  |
| New Fortress Energy, Inc., 6.500%, 9/30/26 (c) | 180000 | 173962 |
| **Home & Office Products Manufactering: 0.5%** |  |  |
| CD&R Smokey Buyer, Inc., 6.750%, 7/15/25 (c) | 165000 | 146231 |
| **Media Content: 1.1%** |  |  |
| Cumulus Media New Holdings, Inc., 6.750%, 7/1/26 (c) | 155000 | 129882 |
| Univision Communications, Inc., 5.125%, 2/15/25 (c) | 195000 | 188175 |
|  |  | 318057 |
| **Oil & Gas Producers: 0.5%** |  |  |
| SM Energy Co., 5.625%, 6/1/25 | 150000 | 145926 |
| **Oil Field Equipment & Services: 0.9%** |  |  |
| Oceaneering International, Inc., 4.650%, 11/15/24 | 200000 | 193822 |
| Weatherford International Ltd., 11.000%, 12/1/24 (c) | 62000 | 63578 |
|  |  | 257400 |
| **Real Estate Investment Trusts (REITs): 1.6%** |  |  |
| Starwood Property Trust, Inc., 3.750%, 12/31/24 (c) | 190000 | 179550 |
| VICI Properties LP / VICI Note Co, Inc., 4.625%, 6/15/25 (c) | 150000 | 143544 |
| XHR LP, 6.375%, 8/15/25 (c) | 160000 | 155733 |
|  |  | 478827 |
| **Recreation & Travel: 1.3%** |  |  |
| Carnival Corp., 10.500%, 2/1/26 (c) | 385000 | 389658 |
| **Support - Services: 1.6%** |  |  |
| Arrow Bidco LLC, 9.500%, 3/15/24 (c) | 115000 | 114754 |
| Matthews International Corp., 5.250%, 12/1/25 (c) | 200000 | 186000 |
| Sabre GLBL, Inc., 9.250%, 4/15/25 (c) | 165000 | 164588 |
|  |  | 465342 |
| **Tobacco & Cannabis: 0.4%** |  |  |
| Turning Point Brands, Inc., 5.625%, 2/15/26(c) | 145000 | 126233 |
| **Total Corporate Bonds (cost $3,394,322)** |  | 3232544 |
|  | **Number of** |  |
| **Short-Term Investments: 7.1%** | **Shares** |  |
| U.S. Bank Money Market Deposit Account, 2.100%(e) | 2048823 | 2048823 |
| **Total Short-Term Investments (cost $2,048,823)** |  | 2048823 |
| **Total Investments - 93.7% (cost $28,021,601)** |  | 27176705 |
| **Other Assets and Liabilities 6.3%** |  | 1842489 |
| **Net Assets: 100.0%** |  | $29019194 |

---

---

| | | |
|:---|:---|:---|
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |  |
| (a) | Bank Loans typically have rates of interest which are redetermined either daily, monthly, quarterly or semi-annually by reference to a base lending rate, plus a premium. These base lending rates are primarily the London Interbank Offered Rate ("LIBOR") and secondarily, the prime rate offered by one or more major United States banks (the "Prime Rate") and the certificate of deposit ("CD") rate or other base lending rates used by commercial lenders. |  |
| (b) | Senior floating-rate loans (Senior Loans) often require prepayments from excess cash flows or permit the borrowers to repay at their election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be predicted with accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. However, Senior Loans will typically have an expected average life of approximately two to four years. |  |
| (c) | Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended, and may be sold only to dealers in that program or other "qualified institutional buyers." As of November 30, 2022, the value of these investments was $2,750,257, or 9.5% of total net assets. |  |
| (d) | All or a portion of this loan is unfunded. |  |
| (e) | The rate shown is as of November 30, 2022. |  |
| **Country Exposure** (as a percentage of total investments) | **Country Exposure** (as a percentage of total investments) | **Country Exposure** (as a percentage of total investments) |
| United States | United States | 97.4% |
| Panama | Panama | 1.3% |
| United Kingdom | United Kingdom | 0.7% |
| Cayman Islands | Cayman Islands | 0.4% |
| Bermuda | Bermuda | 0.2% |
| The accompanying notes are an integral part of the schedule of investments. | The accompanying notes are an integral part of the schedule of investments. | The accompanying notes are an integral part of the schedule of investments. |

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| |
|:---|
| 1. Significant Accounting Policies (Unaudited) |
| The following is a summary of significant accounting policies consistently followed by the Fund in the preparation of their financial statements. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP"). |
| A. Investment Valuation |
| The Fund uses the following valuation methods to determine fair value as either fair value for investments for which market quotations are available, or if not available, the fair value, as determined in good faith pursuant to such policies and procedures as may be approved by the Trust's Board from time to time. The valuation of the portfolio investments of the Funds currently includes the following processes: |
| Portfolio securities listed on a national or foreign securities exchange, except those listed on the NASDAQ<sup>®</sup> Stock Market and Small Cap<sup>SM</sup> exchanges ("NASDAQ<sup>®</sup>"), for which market quotations are available, are valued at the official closing price of such exchange on each business day (defined as days on which the Funds are open for business ("Business Day")). Portfolio securities traded on the NASDAQ<sup>®</sup> will be valued at the NASDAQ<sup>®</sup> Official Closing Price on each Business Day. If there is no such reported sale on an exchange or NASDAQ<sup>®</sup>, the portfolio security will be valued at the most recent quoted bid price. Price information on listed securities is taken from the exchange where the security is primarily traded. |
| Other assets and securities for which no quotations are readily available (such as for certain restricted or unlisted securities and private placements) or that may not be reliably priced (such as in the case of trade suspensions or halts, price movement limits set by certain foreign markets, and thinly traded or illiquid securities) will be valued in good faith at fair value using procedures and methods approved by the Board. Under the procedures adopted by the Board, the Board has delegated day-to-day responsibility for fair value determinations to a Valuation Committee comprised of representatives from the Advisor. |
| The Fund's portfolio holdings may also consist of shares of other investment companies in which the Fund invests. The value of each such investment company will be its net asset value ("NAV") at the time the Fund's shares are priced. Each investment company calculates its NAV based on the current market value for its portfolio holdings. Each investment company values securities and other instruments in a manner as described in that investment company's prospectus. The investment company's prospectus explains the circumstances under which the company will use fair value pricing and the effects of using fair value pricing. |
| Because the Fund may invest in foreign securities, the Fund's NAV may change on days when a shareholder will not be able to purchase or redeem Fund shares because foreign markets are open at times and on days when U.S. markets are not. Investments quoted in foreign currencies will be valued daily in U.S. dollars on the basis of the foreign currency exchange rates prevailing at the time such valuation is determined. Foreign currency exchange rates are generally determined as of the close of the New York Stock Exchange ("NYSE") (generally 4:00 p.m. Eastern time). If an event that could materially affect the value of the Fund's foreign securities has occurred between the time the securities were last traded and the time that the Fund calculates its NAV, the closing price of the Fund's securities may no longer reflect their market value at the time the Fund calculates its NAV. In such a case, the Fund may use fair value methods to value such securities. |
| Fixed income securities shall be valued at the evaluated bid price supplied by the Fund's pricing agent based on broker-dealer supplied valuations and other criteria, or directly by independent brokers when the pricing agent does not provide a price or the Valuation Committee does not believe that the pricing agent price reflects the current market value. If a price of a position is sought using independent brokers, the Advisor shall seek to obtain an evaluation bid price from at least two independent brokers who are knowledgeable about the position. The price of the position would be deemed to be an average of such bid prices. In the absence of sufficient broker dealer quotes, securities shall be valued at fair value pursuant to procedures adopted by the Board. |
| Bank loans are not listed on any securities exchange or board of trade. They are typically bought and sold by institutional investors in individually negotiated private transactions that function in many respects like an over-the-counter secondary market. This market generally has fewer trades and less liquidity than the secondary market for other types of securities. Some bank loans have few or no trades, or trade infrequently, and information regarding a specific bank loan may not be widely available or may be incomplete. Except as otherwise specified, Bank loan securities shall be valued at the evaluated bid prices supplied by the Fund's pricing agent based on broker-dealer supplied valuations and other criteria, or directly by independent brokers when the pricing agent does not provide a price or the Valuation Committee does not believe that the pricing agent price reflects the current market value. If a price of a position is sought using independent brokers, the Advisor shall seek to obtain a bid price from at least two independent brokers who are knowledgeable about the position. The price of the position would be deemed to be an average of such bid prices. In the absence of sufficient broker dealer quotes, securities shall be valued at fair value pursuant to procedures adopted by the Board. |
| Occasionally, reliable market quotations are not readily available (such as for certain restricted or unlisted securities and private placements) or securities and other assets may not be reliably priced (such as in the case of trade suspensions or halts, price movement limits set by certain foreign markets, and thinly traded or illiquid securities), or there may be events affecting the value of foreign securities or other securities held by the Funds that occur when regular trading on foreign or other exchanges is closed, but before trading on the NYSE is closed. Fair value determinations are then made in good faith in accordance with procedures adopted by the Board. Under the procedures adopted by the Board, the Board has delegated the responsibility for making fair value determinations to a Valuation Committee, subject to the Board's oversight. Generally, the fair value of a portfolio security or other asset shall be the amount that the owner of the security or asset might reasonably expect to receive upon its current sale. A three-tier hierarchy is utilized to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Inputs may be observable or unobservable and refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability and are developed based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the reporting entity's own assumptions about the assumptions market participants would use in pricing the asset or liability and are developed based on the best information available under the circumstances. The three-tier hierarchy of inputs is summarized in the three broad levels listed below. |
| Level 1 – Prices are determined using quoted prices in active markets for identical securities. |
| Level 2 – Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.). |
| Level 3 – Prices are determined using significant unobservable inputs (including the Funds' own assumptions in determining the fair value of investments). |
| The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. |
| The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety is determined based on the lowest level input that is significant to the fair value measurement in its entirety. |
| The following table summarizes the inputs used as of November 30, 2022, in valuing the Fund's investments: |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments in Securities<sup>(a)</sup>** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Bank Loans | $- | $21895338 | $- | $21895338 |
| Corporate Bonds | - | 3232544 | - | 3232544 |
| Short-Term Investments | 2048823 | - | - | 2048823 |
| **Total Investments in Securities** | $2048823 | $25127882 | $- | $27176705 |
| &nbsp;&nbsp;&nbsp;&nbsp;<sup>(a)</sup> All other industry classifications are identified in the Schedule of Investments for the Fund. |  |  |  |  |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

  - **Street Address 1:** 1200 Intrepid Ave

  - **City:** Philadelphia

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19112

  - **Telephone number:** 2153021500

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

- **a. Name of Series:** Penn Capital Floating Rate Income Fund

- **b. EDGAR series identifier (if any):** S000048029

- **c. LEI of Series:** 5493006C00G7QMAXMX22

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

- **a. Date of fiscal year-end:** 2023-08-31

- **b. Date as of which information is reported:** 2022-11-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $29762432.52

**Total Liabilities:** $839268.56

**Net Assets:** $28923163.96

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 207.910000000000 | **1-Year:** 21.550000000000 | **5-Year:** 10.240000000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

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

- **3-Month:** 8093.670000000000 | **1-Year:** 259.830000000000 | **5-Year:** 219.540000000000 | **10-Year:** 31.840000000000 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000151492 | -1.87%               | 1.40%                | 1.32%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-141248.60              | $-590028.07                                |
| Month 2  | $-57397.88               | $331181.12                                 |
| Month 3  | $-348746.82              | $553785.51                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ARROW BIDCO LLC             | Arrow Bidco LLC                                            | CUSIP: 042728AA3<br>LEI: 549300YHZN08M0H3O128 | Long             | DBT              | CORP              | US        |    115000 | PA      | $114754.17    | 0.40%             | 2024-03-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| CD&R SMOKEY BUYER INC       | CD&R Smokey Buyer Inc                                      | CUSIP: 12510CAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    165000 | PA      | $146231.25    | 0.51%             | 2025-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP               | Carnival Corp                                              | CUSIP: 143658BG6<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    385000 | PA      | $389658.50    | 1.35%             | 2026-02-01      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| CUMULUS MEDIA NEW HLDGS     | Cumulus Media New Holdings Inc                             | CUSIP: 23110AAA4<br>LEI: 5493001D9VBAVY1OKJ46 | Long             | DBT              | CORP              | US        |    155000 | PA      | $129882.25    | 0.45%             | 2026-07-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP               | DISH DBS Corp                                              | CUSIP: 25470XAW5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $142539.00    | 0.49%             | 2024-11-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| FORTRESS TRANS & INFRAST    | Fortress Transportation and Infrastructure Investors LLC   | CUSIP: 34960PAB7<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |    122000 | PA      | $117174.90    | 0.41%             | 2025-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| INTERNATIONAL GAME TECH     | International Game Technology PLC                          | CUSIP: 460599AC7<br>LEI: 549300UQ6KHRCZDRGZ76 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $201028.50    | 0.70%             | 2025-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| KEHE DISTRIBUTORS LLC/FI    | KeHE Distributors LLC / KeHE Finance Corp                  | CUSIP: 487526AB1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    109000 | PA      | $107365.00    | 0.37%             | 2026-10-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| MATTHEWS INTERNATIONAL C    | Matthews International Corp                                | CUSIP: 577128AA9<br>LEI: 549300ZVC5O0ATML6U61 | Long             | DBT              | CORP              | US        |    200000 | PA      | $186000.00    | 0.64%             | 2025-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW FORTRESS ENERGY INC     | New Fortress Energy Inc                                    | CUSIP: 644393AB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    180000 | PA      | $173961.90    | 0.60%             | 2026-09-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| OCEANEERING INTL INC        | Oceaneering International Inc                              | CUSIP: 675232AA0<br>LEI: 549300L6PH74701W0R30 | Long             | DBT              | CORP              | US        |    200000 | PA      | $193822.00    | 0.67%             | 2024-11-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| SM ENERGY CO                | SM Energy Co                                               | CUSIP: 78454LAL4<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |    150000 | PA      | $145925.60    | 0.50%             | 2025-06-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| SABRE GLBL INC              | Sabre GLBL Inc                                             | CUSIP: 78573NAC6<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |    165000 | PA      | $164587.50    | 0.57%             | 2025-04-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST     | Starwood Property Trust Inc                                | CUSIP: 85571BAW5<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |    190000 | PA      | $179550.00    | 0.62%             | 2024-12-31      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC               | TransDigm Inc                                              | CUSIP: 893647BK2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    160000 | PA      | $162800.00    | 0.56%             | 2025-12-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| US BANK MMDA - USBFS 2      | US BANK MMDA - USBFS 2                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | RF                | US        |   2004346 | NS      | $2004346.36   | 6.93%             |  |  |  | No            |                  1 | On Loan: No      |
| TURNING POINT BRANDS INC    | Turning Point Brands Inc                                   | CUSIP: 90041LAF2<br>LEI: 549300IYG00QF0VVP302 | Long             | DBT              | CORP              | US        |    145000 | PA      | $126233.08    | 0.44%             | 2026-02-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS    | Univision Communications Inc                               | CUSIP: 914906AS1<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    195000 | PA      | $188175.00    | 0.65%             | 2025-02-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE      | VICI Properties LP / VICI Note Co Inc                      | CUSIP: 92564RAG0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $143544.39    | 0.50%             | 2025-06-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| WEATHERFORD INTL LTD        | Weatherford International Ltd                              | CUSIP: 947075AP2<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |     62000 | PA      | $63577.82     | 0.22%             | 2024-12-01      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| XHR LP                      | XHR LP                                                     | CUSIP: 98372MAA3<br>LEI: 549300M88BPT83ZL2164 | Long             | DBT              | CORP              | US        |    160000 | PA      | $155732.73    | 0.54%             | 2025-08-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| SELECT MEDICAL CORP         | Select Medical Corp                                        | CUSIP: 816194AV6<br>LEI: 549300X05KS0JKR8CB50 | Long             | LON              | CORP              | US        |    212163 | PA      | $207985.29    | 0.72%             | 2025-03-06      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC            | CSC Holdings LLC                                           | CUSIP: 64072UAE2<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | LON              | CORP              | US        |    236842 | PA      | $226420.98    | 0.78%             | 2025-07-17      | Floating      | 6.12%                 | No            |                  2 | On Loan: No      |
| COGECO COMMUNICATIONS US    | Cogeco Communications USA II LP                            | CUSIP: 19239PAB3<br>LEI: 549300UVJTPYOZ6XKH79 | Long             | LON              | CORP              | US        |    240430 | PA      | $235020.71    | 0.81%             | 2025-01-04      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| PETVET CARE CENTERS LLC     | PetVet Care Centers LLC                                    | CUSIP: 70476XAC9<br>LEI: 549300V0HK8MSXZNOM91 | Long             | LON              | CORP              | US        |    312114 | PA      | $287378.92    | 0.99%             | 2025-02-14      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| HUB INTERNATIONAL LTD       | HUB International Ltd                                      | CUSIP: 44332EAP1<br>LEI: 549300JQT6ATTUNS5E06 | Long             | LON              | CORP              | US        |       513 | PA      | $502.71       | 0.00%             | 2025-04-25      | Floating      | 6.98%                 | No            |                  2 | On Loan: No      |
| HUB INTERNATIONAL LTD       | HUB International Ltd                                      | CUSIP: 44332EAP1<br>LEI: 549300JQT6ATTUNS5E06 | Long             | LON              | CORP              | US        |    195897 | PA      | $192036.30    | 0.66%             | 2025-04-25      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC    | Vistra Operations Co LLC                                   | CUSIP: 88233FAK6<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | LON              | CORP              | US        |     38519 | PA      | $38177.25     | 0.13%             | 2025-12-31      | Floating      | 5.65%                 | No            |                  2 | On Loan: No      |
| FRONERI US INC              | Froneri US Inc                                             | CUSIP: G3679YAC6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     61139 | PA      | $59348.72     | 0.21%             | 2027-01-31      | Floating      | 6.32%                 | No            |                  2 | On Loan: No      |
| GATES GLOBAL LLC            | Gates Global LLC                                           | CUSIP: 36740UAT9<br>LEI: 549300XI79MQJV13DW27 | Long             | LON              | CORP              | US        |    197303 | PA      | $192370.37    | 0.67%             | 2027-03-31      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| FC COMPASSUS LLC            | FC Compassus LLC                                           | CUSIP: 20452RAD3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    194535 | PA      | $178485.86    | 0.62%             | 2026-12-31      | Floating      | 7.13%                 | No            |                  2 | On Loan: No      |
| VICTORY CAPITAL HOLDINGS    | Victory Capital Holdings Inc                               | CUSIP: 92645DAH2<br>LEI: 549300BN5LH2CIPPHS71 | Long             | LON              | CORP              | US        |    157809 | PA      | $155600.02    | 0.54%             | 2026-07-01      | Floating      | 5.96%                 | No            |                  2 | On Loan: No      |
| GRAHAM PACKAGING/GPC CAP    | Graham Packaging Co Inc                                    | CUSIP: 38469EAD5<br>LEI: 549300YS0ZFT826HIK72 | Long             | LON              | CORP              | US        |    192993 | PA      | $188409.63    | 0.65%             | 2027-08-04      | Floating      | 7.07%                 | No            |                  2 | On Loan: No      |
| II-VI INC                   | Coherent Corp                                              | CUSIP: 45173JAQ7<br>LEI: 549300O5C25A0MMHHU33 | Long             | LON              | CORP              | US        |    300000 | PA      | $296439.00    | 1.02%             | 2029-07-01      | Floating      | 6.59%                 | No            |                  2 | On Loan: No      |
| PLAYTIKA HOLDING CORP       | Playtika Holding Corp                                      | CUSIP: 72814CAF5<br>LEI: 254900E35Z4TKA4UFG64 | Long             | LON              | CORP              | US        |    197000 | PA      | $191767.68    | 0.66%             | 2028-03-11      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| CANADA GOOSE INC            | Canada Goose Inc                                           | CUSIP: C1541PAF2<br>LEI: 5493005JT54IX5MZ9P52 | Long             | LON              | CORP              | CA        |    345374 | PA      | $335444.51    | 1.16%             | 2027-10-07      | Floating      | 7.14%                 | No            |                  2 | On Loan: No      |
| AADVANTAGE LOYALTY IP       | AAdvantage Loyalty IP Ltd                                  | CUSIP: 02376CBJ3<br>LEI: N/A                  | Long             | LON              | CORP              | KY        |    200000 | PA      | $198608.00    | 0.69%             | 2028-04-20      | Floating      | 8.99%                 | No            |                  2 | On Loan: No      |
| EWT HOLDINGS III CORP       | EWT Holdings III Corp                                      | CUSIP: N/A<br>LEI: 5493007CXSSB57GCEB24       | Long             | LON              | CORP              | US        |    197500 | PA      | $194784.38    | 0.67%             | 2028-04-01      | Floating      | 6.38%                 | No            |                  2 | On Loan: No      |
| HILTON GRAND VAC BORROWER   | Hilton Grand Vacations Borrower LLC                        | CUSIP: 43283LAH4<br>LEI: 254900HF0EZ734FDVY79 | Long             | LON              | CORP              | US        |    247500 | PA      | $244871.55    | 0.85%             | 2028-08-02      | Floating      | 7.07%                 | No            |                  2 | On Loan: No      |
| WAYSTAR TECHNOLOGIES INC    | Waystar Technologies Inc                                   | CUSIP: 63939WAG8<br>LEI: 549300BIRBTAWWHCSZ09 | Long             | LON              | CORP              | US        |    346475 | PA      | $339545.75    | 1.17%             | 2026-10-23      | Floating      | 8.07%                 | No            |                  2 | On Loan: No      |
| CUMULUS MEDIA NEW HLDGS     | Cumulus Media New Holdings Inc                             | CUSIP: 23108LAB2<br>LEI: 5493001D9VBAVY1OKJ46 | Long             | LON              | CORP              | US        |    145298 | PA      | $137306.20    | 0.47%             | 2026-03-31      | Floating      | 7.82%                 | No            |                  2 | On Loan: No      |
| TRANS UNION LLC             | Trans Union LLC                                            | CUSIP: 89334GAX2<br>LEI: X8NPN6PWJOM1QCTYFV34 | Long             | LON              | CORP              | US        |    236718 | PA      | $230165.30    | 0.80%             | 2026-11-15      | Floating      | 5.82%                 | No            |                  2 | On Loan: No      |
| SABERT CORP                 | Sabert Corp                                                | CUSIP: 78516EAB8<br>LEI: 54930029JPYBTHDWT603 | Long             | LON              | CORP              | US        |    169298 | PA      | $167181.66    | 0.58%             | 2026-12-10      | Floating      | 8.62%                 | No            |                  2 | On Loan: No      |
| ZIGGO FINANCING PARTNERS    | Ziggo Financing Partnership                                | CUSIP: N9833RAJ8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    250000 | PA      | $241702.50    | 0.84%             | 2028-04-30      | Floating      | 6.37%                 | No            |                  2 | On Loan: No      |
| BUZZ FINCO LLC              | Buzz Finco LLC                                             | CUSIP: G1738KAB1<br>LEI: 254900OZZ8FOKG7P0L30 | Long             | LON              | CORP              | US        |    243750 | PA      | $239028.56    | 0.83%             | 2027-01-29      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| FRONERI US INC              | Froneri US Inc                                             | CUSIP: G3679YAC6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    134361 | PA      | $130425.09    | 0.45%             | 2027-01-31      | Floating      | 6.32%                 | No            |                  2 | On Loan: No      |
| LUMEN TECHNOLOGIES INC      | Lumen Technologies Inc                                     | CUSIP: 15669GAH7<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | LON              | CORP              | US        |    243125 | PA      | $230159.14    | 0.80%             | 2027-03-15      | Floating      | 6.32%                 | No            |                  2 | On Loan: No      |
| IRB HOLDING CORP            | IRB Holding Corp                                           | CUSIP: 44988LAF4<br>LEI: 549300HVW4WNWYBXN830 | Long             | LON              | CORP              | US        |    240679 | PA      | $236122.64    | 0.82%             | 2025-02-05      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| TEGRA118 WEALTH SOLUTION    | Tegra118 Wealth Solutions Inc                              | CUSIP: 33774UAC2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    195500 | PA      | $184747.50    | 0.64%             | 2027-02-18      | Floating      | 7.91%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC               | TransDigm Inc                                              | CUSIP: 89364MBS2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |    300000 | PA      | $298527.00    | 1.03%             | 2024-08-22      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC      | Match Group Holdings II LLC                                | CUSIP: 57665VAF4<br>LEI: 5493003RFFE030RC9167 | Long             | LON              | CORP              | US        |    200000 | PA      | $195750.00    | 0.68%             | 2027-02-13      | Floating      | 4.69%                 | No            |                  2 | On Loan: No      |
| ADEIA INC                   | Adeia Inc                                                  | CUSIP: 98422BAB5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    345991 | PA      | $333881.04    | 1.15%             | 2028-06-08      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| ALCHEMY COPYRIGHTS LLC      | Alchemy Copyrights LLC                                     | CUSIP: 01374WAD7<br>LEI: 549300Y8O8X4508AZD58 | Long             | LON              | CORP              | US        |    176408 | PA      | $175084.82    | 0.61%             | 2028-03-10      | Floating      | 6.77%                 | No            |                  2 | On Loan: No      |
| PACTIV EVERGREEN GROUP      | Pactiv Evergreen Group Holdings Inc                        | CUSIP: 76173FAW7<br>LEI: 5493002QNV81KCX40V06 | Long             | LON              | CORP              | US        |     45487 | PA      | $44780.59     | 0.15%             | 2026-02-05      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| PACTIV EVERGREEN GROUP      | Pactiv Evergreen Group Holdings Inc                        | CUSIP: 76173FAW7<br>LEI: 5493002QNV81KCX40V06 | Long             | LON              | CORP              | US        |     27770 | PA      | $27338.88     | 0.09%             | 2026-02-05      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| PACTIV EVERGREEN GROUP      | Pactiv Evergreen Group Holdings Inc                        | CUSIP: 76173FAW7<br>LEI: 5493002QNV81KCX40V06 | Long             | LON              | CORP              | US        |    123242 | PA      | $121326.94    | 0.42%             | 2026-02-05      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| WHITE CAP BUYER LLC         | White Cap Buyer LLC                                        | CUSIP: 96350TAC4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    344518 | PA      | $331298.66    | 1.15%             | 2027-10-19      | Floating      | 7.84%                 | No            |                  2 | On Loan: No      |
| CNT HOLDINGS I CORP         | CNT Holdings I Corp                                        | CUSIP: 12656AAC3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    197000 | PA      | $190382.77    | 0.66%             | 2027-11-08      | Floating      | 7.24%                 | No            |                  2 | On Loan: No      |
| TRUGREEN LP                 | TruGreen LP                                                | CUSIP: 89787RAH5<br>LEI: 549300QNRP2MNHR3QM19 | Long             | LON              | CORP              | US        |    196500 | PA      | $174590.25    | 0.60%             | 2027-11-02      | Floating      | 8.07%                 | No            |                  2 | On Loan: No      |
| RUSSELL INVESTMENTS US      | Russell Investments US Institutional Holdco Inc            | CUSIP: 78249LAD2<br>LEI: 5493008YG7V0FQCJQI74 | Long             | LON              | CORP              | US        |    138745 | PA      | $130073.63    | 0.45%             | 2025-05-30      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| RUSSELL INVESTMENTS US      | Russell Investments US Institutional Holdco Inc            | CUSIP: 78249LAD2<br>LEI: 5493008YG7V0FQCJQI74 | Long             | LON              | CORP              | US        |     59638 | PA      | $55910.52     | 0.19%             | 2025-05-30      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| LBM ACQUISITION LLC         | LBM Acquisition LLC                                        | CUSIP: 50179JAB4<br>LEI: 549300FAEB3VWZL4NI86 | Long             | LON              | CORP              | US        |    210781 | PA      | $180888.45    | 0.63%             | 2027-12-18      | Floating      | 7.12%                 | No            |                  2 | On Loan: No      |
| GEMINI HDPE LLC             | Gemini HDPE LLC                                            | CUSIP: 36866KAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    185273 | PA      | $180316.89    | 0.62%             | 2027-12-31      | Floating      | 7.42%                 | No            |                  2 | On Loan: No      |
| ENDURE DIGITAL INC          | Endurance International Group Holdings Inc                 | CUSIP: 29279UAB2<br>LEI: 549300UTQC2651SB0W88 | Long             | LON              | CORP              | US        |    202438 | PA      | $183205.94    | 0.63%             | 2028-02-10      | Floating      | 7.35%                 | No            |                  2 | On Loan: No      |
| ASURION LLC                 | Asurion LLC                                                | CUSIP: 04649VAX8<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |    196500 | PA      | $171609.35    | 0.59%             | 2026-12-23      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC       | GFL Environmental Inc                                      | CUSIP: C7052BAH7<br>LEI: 549300FYK4MBXWIVZU26 | Long             | LON              | CORP              | CA        |    196500 | PA      | $196008.75    | 0.68%             | 2025-05-31      | Floating      | 7.41%                 | No            |                  2 | On Loan: No      |
| PIKE CORP                   | Pike Corp                                                  | CUSIP: 72108PAR5<br>LEI: 549300P4EKEP6HK0NC58 | Long             | LON              | CORP              | US        |    296575 | PA      | $290504.44    | 1.00%             | 2028-01-21      | Floating      | 7.08%                 | No            |                  2 | On Loan: No      |
| CAMBREX CORP                | Cambrex Corp                                               | CUSIP: 13201FAU0<br>LEI: 4Q9DLX2VIFGJMOYJ4Y35 | Long             | LON              | CORP              | US        |    239176 | PA      | $231776.38    | 0.80%             | 2026-12-07      | Floating      | 7.69%                 | No            |                  2 | On Loan: No      |
| PRIME SECURITY SERVICES BOR | Prime Security Services Borrower LLC                       | CUSIP: 03765VAK6<br>LEI: 549300O6QPZVWXV2DC15 | Long             | LON              | CORP              | US        |    278007 | PA      | $273803.67    | 0.95%             | 2026-09-23      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| WHOLE EARTH BRANDS INC      | Whole Earth Brands Inc                                     | CUSIP: 96684XAD0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    345867 | PA      | $321655.85    | 1.11%             | 2028-02-05      | Floating      | 8.20%                 | No            |                  2 | On Loan: No      |
| FOUNDATION BUILDING M       | Foundation Building Materials Inc                          | CUSIP: 35039KAB2<br>LEI: 549300ZVE6MONHB01I28 | Long             | LON              | CORP              | US        |    201925 | PA      | $191374.42    | 0.66%             | 2028-01-29      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| FOUNDATION BUILDING M       | Foundation Building Materials Inc                          | CUSIP: 35039KAB2<br>LEI: 549300ZVE6MONHB01I28 | Long             | LON              | CORP              | US        |       512 | PA      | $485.72       | 0.00%             | 2028-01-29      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| TERRIER MEDIA BUYER INC     | CMG Media Corp                                             | CUSIP: 88145LAE4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    194535 | PA      | $180431.21    | 0.62%             | 2026-12-17      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| ADMI CORP                   | ADMI Corp                                                  | CUSIP: 00709LAH0<br>LEI: 5493008U1LYGMQWO7N12 | Long             | LON              | CORP              | US        |    345867 | PA      | $317764.86    | 1.10%             | 2027-12-23      | Floating      | 7.45%                 | No            |                  2 | On Loan: No      |
| PETSMART INC                | PetSmart LLC                                               | CUSIP: 71677HAL9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    197500 | PA      | $189528.90    | 0.66%             | 2028-02-12      | Floating      | 7.82%                 | No            |                  2 | On Loan: No      |
| MATIV HOLDINGS INC          | Mativ Holdings Inc                                         | CUSIP: 80854EAH1<br>LEI: 549300Z1FU4IDULG1R21 | Long             | LON              | CORP              | US        |    197500 | PA      | $184168.75    | 0.64%             | 2029-05-06      | Floating      | 7.88%                 | No            |                  2 | On Loan: No      |
| LUMMUS TECHNOLOGY HOLDINGS  | Lummus Technology Holdings V LLC                           | CUSIP: 45232UAE8<br>LEI: 549300K1Y0YC1YC1H809 | Long             | LON              | CORP              | US        |    186984 | PA      | $179192.08    | 0.62%             | 2027-06-30      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| GOGO INTERMEDIATE HOLDIN    | Gogo Intermediate Holdings LLC                             | CUSIP: 38046JAB0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    197500 | PA      | $195525.00    | 0.68%             | 2028-04-30      | Floating      | 8.16%                 | No            |                  2 | On Loan: No      |
| CQP HOLDCO LP               | CQP Holdco LP                                              | CUSIP: N/A<br>LEI: 549300LPL012JY5D4B69       | Long             | LON              | CORP              | US        |    246875 | PA      | $243357.03    | 0.84%             | 2028-06-04      | Floating      | 7.42%                 | No            |                  2 | On Loan: No      |
| PAYSAFE HOLDINGS(US)        | Paysafe Holdings US Corp                                   | CUSIP: 70451NAB2<br>LEI: 549300N8UN7DUDH51357 | Long             | LON              | CORP              | US        |    247494 | PA      | $228931.69    | 0.79%             | 2028-06-24      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| SHUTTERFLY INC              | Shutterfly LLC                                             | CUSIP: 82568QAN4<br>LEI: 549300I1C8WJQ5FZE154 | Long             | LON              | CORP              | US        |    200000 | PA      | $122126.00    | 0.42%             | 2026-09-25      | Floating      | 9.07%                 | No            |                  2 | On Loan: No      |
| DIRECTV FINANCING LLC       | Directv Financing LLC                                      | CUSIP: 25460HAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    321642 | PA      | $307605.48    | 1.06%             | 2027-08-02      | Floating      | 9.07%                 | No            |                  2 | On Loan: No      |
| ALTERRA MOUNTAIN COMPANY    | Alterra Mountain Co                                        | CUSIP: 46124CAJ6<br>LEI: 549300C5O4FSVNUEI843 | Long             | LON              | CORP              | US        |    238838 | PA      | $235254.94    | 0.81%             | 2028-08-17      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| CENTURI GROUP INC           | Centuri Group Inc                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    162566 | PA      | $156418.91    | 0.54%             | 2028-08-27      | Floating      | 7.23%                 | No            |                  2 | On Loan: No      |
| CENTURI GROUP INC           | Centuri Group Inc                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     13600 | PA      | $13086.21     | 0.05%             | 2028-08-27      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| PACTIV EVERGREEN GROUP      | Pactiv Evergreen Group Holdings Inc                        | CUSIP: 76173FAY3<br>LEI: 5493002QNV81KCX40V06 | Long             | LON              | CORP              | US        |     40225 | PA      | $39590.53     | 0.14%             | 2028-09-24      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| PACTIV EVERGREEN GROUP      | Pactiv Evergreen Group Holdings Inc                        | CUSIP: 76173FAY3<br>LEI: 5493002QNV81KCX40V06 | Long             | LON              | CORP              | US        |    182717 | PA      | $179833.59    | 0.62%             | 2028-09-24      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| PACTIV EVERGREEN GROUP      | Pactiv Evergreen Group Holdings Inc                        | CUSIP: 76173FAY3<br>LEI: 5493002QNV81KCX40V06 | Long             | LON              | CORP              | US        |     24558 | PA      | $24170.33     | 0.08%             | 2028-09-24      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| GIP II BLUE HOLDING LP      | GIP II Blue Holding LP                                     | CUSIP: 31575AAB3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    197279 | PA      | $195469.82    | 0.68%             | 2028-09-29      | Floating      | 8.17%                 | No            |                  2 | On Loan: No      |
| OPTION CARE HEALTH INC      | Option Care Health Inc                                     | CUSIP: 68404YAB0<br>LEI: 549300DI3Q5ACSYJRI17 | Long             | LON              | CORP              | US        |    297750 | PA      | $295764.01    | 1.02%             | 2028-10-27      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| COVANTA HOLDING CORP        | Covanta Holding Corp                                       | CUSIP: N/A<br>LEI: 40XIFLS8XDQGGHGPGC04       | Long             | LON              | CORP              | US        |    329444 | PA      | $322582.17    | 1.12%             | 2028-11-30      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| COVANTA HOLDING CORP        | Covanta Holding Corp                                       | CUSIP: N/A<br>LEI: 40XIFLS8XDQGGHGPGC04       | Long             | LON              | CORP              | US        |     24800 | PA      | $24283.42     | 0.08%             | 2028-11-30      | Floating      | 6.59%                 | No            |                  2 | On Loan: No      |
| CINCINNATI BELL INC         | Cincinnati Bell Inc                                        | CUSIP: 17187MAS9<br>LEI: 549300JYVZOCUJOHL272 | Long             | LON              | CORP              | US        |    347375 | PA      | $340253.81    | 1.18%             | 2028-11-23      | Floating      | 7.44%                 | No            |                  2 | On Loan: No      |
| NAB HOLDINGS LLC            | NAB Holdings LLC                                           | CUSIP: 62871NAM7<br>LEI: 549300G4QOYNTNBXSH82 | Long             | LON              | CORP              | US        |    347375 | PA      | $336953.75    | 1.16%             | 2028-11-23      | Floating      | 6.70%                 | No            |                  2 | On Loan: No      |
| UKG INC                     | UKG Inc                                                    | CUSIP: 90385KAK7<br>LEI: 529900FKHWSTQ1GXK240 | Long             | LON              | CORP              | US        |    296267 | PA      | $285773.67    | 0.99%             | 2026-05-03      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| ENTEGRIS INC                | Entegris Inc                                               | CUSIP: 29362LAL8<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | LON              | CORP              | US        |    240481 | PA      | $238242.08    | 0.82%             | 2029-07-06      | Floating      | 5.60%                 | No            |                  2 | On Loan: No      |
| ENTEGRIS INC                | Entegris Inc                                               | CUSIP: 29362LAL8<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | LON              | CORP              | US        |     59519 | PA      | $58964.92     | 0.20%             | 2029-07-06      | Floating      | 7.09%                 | No            |                  2 | On Loan: No      |
| CROCS INC                   | Crocs Inc                                                  | CUSIP: 22704NAD4<br>LEI: 549300B0J6YCXD63OG72 | Long             | LON              | CORP              | US        |    251250 | PA      | $242142.19    | 0.84%             | 2029-02-19      | Floating      | 7.73%                 | No            |                  2 | On Loan: No      |
| CROCS INC                   | Crocs Inc                                                  | CUSIP: 22704NAD4<br>LEI: 549300B0J6YCXD63OG72 | Long             | LON              | CORP              | US        |     45000 | PA      | $43368.75     | 0.15%             | 2029-02-19      | Floating      | 7.20%                 | No            |                  2 | On Loan: No      |
| IRB HOLDING CORP            | IRB Holding Corp                                           | CUSIP: 44988LAH0<br>LEI: 549300HVW4WNWYBXN830 | Long             | LON              | CORP              | US        |    196500 | PA      | $188836.50    | 0.65%             | 2027-12-15      | Floating      | 6.89%                 | No            |                  2 | On Loan: No      |
| SCIENTIFIC GAMES HOLDIN     | Scientific Games Holdings LP                               | CUSIP: 80875CAB3<br>LEI: 549300W5GPFXXB6TQ330 | Long             | LON              | CORP              | US        |    250000 | PA      | $238437.50    | 0.82%             | 2029-04-04      | Floating      | 7.10%                 | No            |                  2 | On Loan: No      |
| MCAFEE CORP                 | McAfee Corp                                                | CUSIP: 57906HAD9<br>LEI: 2549009UKR8UEZYVCR93 | Long             | LON              | CORP              | US        |    299250 | PA      | $283727.90    | 0.98%             | 2029-03-01      | Floating      | 7.64%                 | No            |                  2 | On Loan: No      |
| CENTURY CASINOS INC         | Century Casinos Inc                                        | CUSIP: 15649EAF1<br>LEI: 549300H2L4Y24HXY7M50 | Long             | LON              | CORP              | US        |    248750 | PA      | $236934.38    | 0.82%             | 2029-04-01      | Floating      | 9.84%                 | No            |                  2 | On Loan: No      |
| SCIENTIFIC GAMES INTERNATIO | Scientific Games International Inc                         | CUSIP: N/A<br>LEI: RLTHESQ0RNFQJWPBJN60       | Long             | LON              | CORP              | US        |    249375 | PA      | $244200.47    | 0.84%             | 2029-04-14      | Floating      | 6.90%                 | No            |                  2 | On Loan: No      |
| DAVE & BUSTER'S INC         | Dave & Buster's Inc                                        | CUSIP: 23833EAV6<br>LEI: 549300JAVWTAY1FT5Z45 | Long             | LON              | CORP              | US        |    299250 | PA      | $296481.94    | 1.03%             | 2029-06-29      | Floating      | 9.19%                 | No            |                  2 | On Loan: No      |
| AL GCX HOLDINGS LLC         | AL GCX Holdings LLC                                        | CUSIP: 00162DAB1<br>LEI: 2549009G4C2J89LNWS21 | Long             | LON              | CORP              | US        |    299250 | PA      | $296107.88    | 1.02%             | 2029-05-18      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| R1 RCM INC                  | R1 RCM Inc                                                 | CUSIP: 74919EAP9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    300000 | PA      | $294501.00    | 1.02%             | 2029-06-21      | Floating      | 7.09%                 | No            |                  2 | On Loan: No      |
| ChampionX Corporation       | ChampionX Corporation, Senior Secured First Lien Term Loan | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    300000 | PA      | $299157.00    | 1.03%             | 2029-06-07      | Floating      | 7.14%                 | No            |                  2 | On Loan: No      |
| MAXAR TECHNOLOGIES INC      | Maxar Technologies Inc                                     | CUSIP: N/A<br>LEI: 549300OEN2G821MIJ922       | Long             | LON              | CORP              | US        |    249375 | PA      | $239671.82    | 0.83%             | 2029-06-14      | Floating      | 8.44%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS    | Univision Communications Inc                               | CUSIP: 914908BD9<br>LEI: 549300YQDE2JSGTL8V47 | Long             | LON              | CORP              | US        |    199500 | PA      | $196507.50    | 0.68%             | 2029-06-24      | Floating      | 7.79%                 | No            |                  2 | On Loan: No      |
| AVIENT CORP                 | Avient Corp                                                | CUSIP: 73179YAL1<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | LON              | CORP              | US        |    218263 | PA      | $217104.31    | 0.75%             | 2029-08-29      | Floating      | 7.34%                 | No            |                  2 | On Loan: No      |
| SABRE GLBL INC              | Sabre GLBL Inc                                             | CUSIP: 78571YBJ8<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | LON              | CORP              | US        |    250000 | PA      | $233750.00    | 0.81%             | 2028-06-30      | Floating      | 9.19%                 | No            |                  2 | On Loan: No      |
| BDF ACQUISITION CORP        | BDF Acquisition Corp                                       | CUSIP: 05543CAF3<br>LEI: 549300QH1U6GLVX5T151 | Long             | LON              | CORP              | US        |    370691 | PA      | $337021.18    | 1.17%             | 2026-02-12      | Floating      | 10.98%                | No            |                  2 | On Loan: No      |
| GO DADDY OPERATING CO LLC   | Go Daddy Operating Co LLC                                  | CUSIP: 38017BAT3<br>LEI: 5493005GJOH8HLL11157 | Long             | LON              | CORP              | US        |    310818 | PA      | $309696.25    | 1.07%             | 2029-10-21      | Floating      | 7.34%                 | No            |                  2 | On Loan: No      |
| SPIRIT AEROSYSTEMS INC      | Spirit AeroSystems Inc                                     | CUSIP: 84857HAY6<br>LEI: ZD2NBKV6GCC3UMGBM518 | Long             | LON              | CORP              | US        |    250000 | PA      | $246667.50    | 0.85%             | 2027-11-23      | Floating      | 7.79%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC    | Vistra Operations Co LLC                                   | CUSIP: 88233FAK6<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | LON              | CORP              | US        |    155456 | PA      | $154078.23    | 0.53%             | 2025-12-31      | Floating      | 5.82%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA            | Altice France SA/France                                    | CUSIP: N/A<br>LEI: 5493001ZMCICV4N02J21       | Long             | LON              | CORP              | FR        |    234412 | PA      | $225816.54    | 0.78%             | 2026-08-14      | Floating      | 8.65%                 | No            |                  2 | On Loan: No      |
| GIP III STETSON I LP        | GIP III Stetson I LP                                       | CUSIP: 36173DAB2<br>LEI: 549300MLKSDQYN3TMQ54 | Long             | LON              | CORP              | US        |    290470 | PA      | $282990.43    | 0.98%             | 2025-07-18      | Floating      | 8.00%                 | No            |                  2 | On Loan: No      |
| HLF FINANCING SARL LLC      | HLF Financing Sarl LLC                                     | CUSIP: 40421YAF9<br>LEI: 549300VKVJUV5OGV2R51 | Long             | LON              | CORP              | US        |    220000 | PA      | $209935.00    | 0.73%             | 2025-08-16      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| AGILITI HEALTH INC          | Agiliti Health Inc                                         | CUSIP: 00847YAC6<br>LEI: 25490002CCQ55NKGNB14 | Long             | LON              | CORP              | US        |    243073 | PA      | $237603.94    | 0.82%             | 2026-01-04      | Floating      | 6.56%                 | No            |                  2 | On Loan: No      |
| CALCEUS ACQUISITION INC     | Calceus Acquisition Inc                                    | CUSIP: 12868TAF9<br>LEI: 549300DNELMHPGI73N31 | Long             | LON              | CORP              | US        |    368043 | PA      | $337373.58    | 1.17%             | 2025-02-12      | Floating      | 9.17%                 | No            |                  2 | On Loan: No      |
| STAPLES INC                 | Staples Inc                                                | CUSIP: 855031AR1<br>LEI: XQM2JINI1UL7642TU573 | Long             | LON              | CORP              | US        |    306774 | PA      | $297015.82    | 1.03%             | 2024-09-12      | Floating      | 8.94%                 | No            |                  2 | On Loan: No      |
| AZALEA TOPCO INC            | Azalea Topco Inc                                           | CUSIP: 29102TAB8<br>LEI: 549300HC42NZULO53062 | Long             | LON              | CORP              | US        |    291000 | PA      | $268811.25    | 0.93%             | 2026-07-25      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO    | Clear Channel Outdoor Holdings Inc                         | CUSIP: 18452RAD7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    341106 | PA      | $311412.52    | 1.08%             | 2026-08-21      | Floating      | 7.91%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO    | Clear Channel Outdoor Holdings Inc                         | CUSIP: 18452RAD7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |       881 | PA      | $804.68       | 0.00%             | 2026-08-21      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| EDELMAN FINANCIAL CENTER    | Edelman Financial Engines Center LLC/The                   | CUSIP: 27943UAK2<br>LEI: 549300Z31KZXNP05U733 | Long             | LON              | CORP              | US        |    192316 | PA      | $183267.24    | 0.63%             | 2028-04-07      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| EVERGREEN ACQCO 1 LP        | Evergreen Acqco 1 LP                                       | CUSIP: 30015FAG1<br>LEI: 549300F6POVHG3ME8T95 | Long             | LON              | CORP              | US        |    198000 | PA      | $191400.66    | 0.66%             | 2028-04-26      | Floating      | 9.17%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-24

**Name of Applicant:** RBB Fund Trust

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

**Name of Signer:** RBB Fund Trust

**Title:** CFO COO Treasurer