# EDGAR Filing Document

**Accession Number:** 0001272950
**File Stem:** 0000940400-26-007478
**Filing Date:** 2026-2
**Character Count:** 145611
**Document Hash:** 03812f672bfc41dc039410594c0ef130
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-007478.hdr.sgml**: 20260225

**ACCESSION NUMBER**: 0000940400-26-007478

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260225

**DATE AS OF CHANGE**: 20260225

**PERIOD START**: 20260930

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21475
- **FILM NUMBER:** 26675504

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

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

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

## Series and Classes Contracts Data

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

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

## Nport-Ex

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Emerging Market Debt Fund

------

December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| **Foreign Government Bonds — 76.9%** | **Foreign Government Bonds — 76.9%** |  |
| **Angola — 1.5%** | **Angola — 1.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$590000 | Angolan Government International Bond, 8.25%, 5/9/28(a) | &nbsp;&nbsp;&nbsp;$591621 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;296000 | Angolan Government International Bond, 8.75%, 4/14/32(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510000 | Angolan Government International Bond, EMTN, 9.13%, 11/26/49(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;680000 | Angolan Government International Bond, EMTN, 9.88%, 10/15/35(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;673598 |
|  |  | &nbsp;&nbsp;&nbsp;1991985 |
| **Argentina — 4.4%** | **Argentina — 4.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3268816 | Argentine Republic Government International Bond, 3.50%, 7/9/41 | &nbsp;&nbsp;&nbsp;2259354 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3240740 | Argentine Republic Government International Bond, 4.13%, 7/9/35 | &nbsp;&nbsp;&nbsp;2410996 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1196675 | Provincia de Buenos Aires/Government Bonds, EMTN, 6.63%, 9/1/37(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;916637 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;384000 | Provincia de Cordoba, 9.75%, 7/2/32(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;403487 |
|  |  | &nbsp;&nbsp;&nbsp;5990474 |
| **Armenia — 0.9%** | **Armenia — 0.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1130000 | Republic of Armenia International Bond, 6.75%, 3/12/35(a) | &nbsp;&nbsp;&nbsp;1174696 |
| **Bahrain — 0.3%** | **Bahrain — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | Bahrain Government International Bond, 6.63%, 10/6/37(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;399563 |
| **Benin — 0.2%** | **Benin — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295000 | Benin Government International Bond, 8.38%, 1/23/41(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310582 |
| **Brazil — 0.7%** | **Brazil — 0.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210000 | Brazilian Government International Bond, 7.13%, 5/13/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;685000 | Brazilian Government International Bond, 7.25%, 1/12/56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;679517 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;887803 |
| **Bulgaria — 0.4%** | **Bulgaria — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590000 | Bulgaria Government International Bond, 5.00%, 3/5/37(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;586524 |
| **Chile — 1.5%** | **Chile — 1.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | Chile Government International Bond, 3.10%, 1/22/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | Chile Government International Bond, 4.00%, 1/31/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;553922 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320000 | Chile Government International Bond, 4.95%, 1/5/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322521 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925000 | Chile Government International Bond, 5.33%, 1/5/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;893343 |
|  |  | &nbsp;&nbsp;&nbsp;2018274 |
| **Colombia — 6.6%** | **Colombia — 6.6%** |  |
| &nbsp;&nbsp;5,143,000,000(b) | Bogota Distrito Capital, 13.14%, 11/5/35(c) | &nbsp;&nbsp;&nbsp;1358613 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1910000 | Colombia Government International Bond, 3.25%, 4/22/32 | &nbsp;&nbsp;&nbsp;1609094 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Emerging Market Debt Fund (cont.)

------

December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385,000(d) | Colombia Government International Bond, 4.50%, 11/26/30 | &nbsp;&nbsp;&nbsp;$444103 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335,000(d) | Colombia Government International Bond, 5.00%, 9/19/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;377698 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;526,000(d) | Colombia Government International Bond, 5.63%, 2/19/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410,000(d) | Colombia Government International Bond, 5.75%, 11/26/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;467411 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350,000(d) | Colombia Government International Bond, 6.50%, 11/26/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;398089 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1995000 | Colombia Government International Bond, 7.75%, 11/7/36 | &nbsp;&nbsp;&nbsp;2079836 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1650000 | Colombia Government International Bond, 8.00%, 11/14/35 | &nbsp;&nbsp;&nbsp;1757638 |
|  |  | &nbsp;&nbsp;&nbsp;9073162 |
| **Costa Rica — 0.9%** | **Costa Rica — 0.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | Costa Rica Government International Bond, 6.55%, 4/3/34(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;436098 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650000 | Costa Rica Government International Bond, 7.30%, 11/13/54(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;729173 |
|  |  | &nbsp;&nbsp;&nbsp;1165271 |
| **Dominican Republic — 2.2%** | **Dominican Republic — 2.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480000 | Dominican Republic International Bond, Series REGs, 6.60%, 6/1/36(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;505539 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;765000 | Dominican Republic International Bond, 6.95%, 3/15/37(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;820783 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;585000 | Dominican Republic International Bond, 7.05%, 2/3/31(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;628497 |
| &nbsp;&nbsp;63,350,000(e) | Dominican Republic International Bond, 11.25%, 9/15/35(a) | &nbsp;&nbsp;&nbsp;1113689 |
|  |  | &nbsp;&nbsp;&nbsp;3068508 |
| **Ecuador — 2.9%** | **Ecuador — 2.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Ecuador Government International Bond, 0.00%, 7/31/30(a),(f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;424091 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176969 | Ecuador Government International Bond, 5.00%, 7/31/40(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138272 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3911871 | Ecuador Government International Bond, 6.90%, 7/31/35(a) | &nbsp;&nbsp;&nbsp;3435174 |
|  |  | &nbsp;&nbsp;&nbsp;3997537 |
| **Egypt — 4.1%** | **Egypt — 4.1%** |  |
| &nbsp;&nbsp;78,625,000(g) | Egypt Government International Bond, 0.00%, 5/28/26(c),(f) | &nbsp;&nbsp;&nbsp;1501362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | Egypt Government International Bond, EMTN, 7.30%, 9/30/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205519 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1667000 | Egypt Government International Bond, 7.90%, 2/21/48(a) | &nbsp;&nbsp;&nbsp;1545780 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;502000 | Egypt Government International Bond, MTN, 8.50%, 1/31/47(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;492996 |
| &nbsp;&nbsp;35,700,000(g) | Egypt Treasury Bills, 0.00%, 3/19/26(c),(f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;711431 |
| &nbsp;&nbsp;27,750,000(g) | Egypt Treasury Bills, Series entm, EMTN, 0.00%, 3/26/26(f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550453 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | Egyptian Financial Co. for Sovereign Taskeek, Series 3YR, 7.88%, 6/25/28(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395000 | Egyptian Financial Co. for Sovereign Taskeek, 7.95%, 10/7/32(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;418388 |
|  |  | &nbsp;&nbsp;&nbsp;5689134 |
| **El Salvador — 1.1%** | **El Salvador — 1.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;824000 | El Salvador Government International Bond, Series RegS, 0.25%, 4/17/30(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22609 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510000 | El Salvador Government International Bond, 9.25%, 4/17/30(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;553461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;790000 | El Salvador Government International Bond, 9.65%, 11/21/54(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;903560 |
|  |  | &nbsp;&nbsp;&nbsp;1479630 |
| **Ghana — 0.8%** | **Ghana — 0.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | Ghana Government International Bond, 0.00%, 7/3/26(a),(f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49077 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Emerging Market Debt Fund (cont.)

------

December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$500000 | Ghana Government International Bond, 5.00%, 7/3/29(a) | &nbsp;&nbsp;&nbsp;$491184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;633000 | Ghana Government International Bond, 5.00%, 7/3/35(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;578417 |
|  |  | &nbsp;&nbsp;&nbsp;1118678 |
| **Guatemala — 1.6%** | **Guatemala — 1.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390000 | Guatemala Government Bond, 3.70%, 10/7/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347716 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;298000 | Guatemala Government Bond, 6.05%, 8/6/31(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;680000 | Guatemala Government Bond, 6.55%, 2/6/37(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725742 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475000 | Guatemala Government Bond, 6.60%, 6/13/36(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;509567 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;308000 | Guatemala Government Bond, 6.88%, 8/15/55(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;328832 |
|  |  | &nbsp;&nbsp;&nbsp;2222741 |
| **India — 0.7%** | **India — 0.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;905000 | Export-Import Bank of India, 5.50%, 1/13/35(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;942299 |
| **Indonesia — 0.5%** | **Indonesia — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1035000 | Indonesia Government International Bond, 3.35%, 3/12/71 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;672091 |
| **Iraq — 0.1%** | **Iraq — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134375 | Iraq International Bond, 5.80%, 1/15/28(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133810 |
| **Ivory Coast — 0.4%** | **Ivory Coast — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | Ivory Coast Government International Bond, 8.08%, 4/1/36(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;323281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210000 | Ivory Coast Government International Bond, 8.25%, 1/30/37(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228322 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;551603 |
| **Kazakhstan — 2.1%** | **Kazakhstan — 2.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;439000 | Baiterek National Managing Holding JSC, EMTN, 4.65%, 10/1/30(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;436025 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | Development Bank of Kazakhstan JSC, 5.25%, 10/23/29(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;614314 |
| &nbsp;&nbsp;102,500,000(h) | Development Bank of Kazakhstan JSC, 13.00%, 4/15/27(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192391 |
| &nbsp;&nbsp;175,000,000(h) | Development Bank of Kazakhstan JSC, 13.49%, 5/23/28(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321935 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1225000 | Kazakhstan Government International Bond, 5.50%, 7/1/37(a) | &nbsp;&nbsp;&nbsp;1259206 |
|  |  | &nbsp;&nbsp;&nbsp;2823871 |
| **Kenya — 2.0%** | **Kenya — 2.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;835000 | Republic of Kenya Government International Bond, 7.88%, 10/9/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;834815 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;690000 | Republic of Kenya Government International Bond, 8.80%, 10/9/38(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;697661 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;880000 | Republic of Kenya Government International Bond, 9.50%, 3/5/36(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;934455 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260000 | Republic of Kenya Government International Bond, 9.75%, 2/16/31(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;284336 |
|  |  | &nbsp;&nbsp;&nbsp;2751267 |
| **Lebanon — 1.1%** | **Lebanon — 1.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;716000 | Lebanon Government International Bond, 6.00%, 1/27/23(a),(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165977 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Emerging Market Debt Fund (cont.)

------

December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;$1256000 | Lebanon Government International Bond, EMTN, 6.10%, 10/4/22(a),(i) | &nbsp;&nbsp;&nbsp;$290945 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;811000 | Lebanon Government International Bond, EMTN, 6.15%, 6/19/20(a),(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187956 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1028000 | Lebanon Government International Bond, GMTN, 6.38%, 3/9/20(a),(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238221 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269000 | Lebanon Government International Bond, Series 15Y, 6.75%, 11/29/27(a),(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62485 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2251000 | Lebanon Government International Bond, EMTN, 8.25%, 4/12/21(a),(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;524206 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000 | Lebanon Government International Bond, 8.25%, 5/17/34(a),(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1167 |
|  |  | &nbsp;&nbsp;&nbsp;1470957 |
| **Mexico — 3.3%** | **Mexico — 3.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1809000 | Eagle Funding Luxco Sarl, Series REGs, 5.50%, 8/17/30(a) | &nbsp;&nbsp;&nbsp;1842309 |
| &nbsp;&nbsp;&nbsp;&nbsp;350,000(d) | Mexico Government International Bond, 4.50%, 3/19/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;409816 |
| &nbsp;&nbsp;&nbsp;&nbsp;310,000(d) | Mexico Government International Bond, 5.13%, 3/19/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;362164 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;842000 | Mexico Government International Bond, 5.38%, 3/22/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;834162 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;975000 | Mexico Government International Bond, 6.88%, 5/13/37 | &nbsp;&nbsp;&nbsp;1040652 |
|  |  | &nbsp;&nbsp;&nbsp;4489103 |
| **Montenegro — 0.4%** | **Montenegro — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570000 | Montenegro Government International Bond, 7.25%, 3/12/31(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;607836 |
| **Morocco — 1.6%** | **Morocco — 1.6%** |  |
| &nbsp;&nbsp;1,860,000(d) | Morocco Government International Bond, 4.75%, 4/2/35(a) | &nbsp;&nbsp;&nbsp;2229964 |
| **Nigeria — 2.9%** | **Nigeria — 2.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850000 | Nigeria Government International Bond, EMTN, 6.13%, 9/28/28(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;853472 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | Nigeria Government International Bond, EMTN, 7.38%, 9/28/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405936 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;644000 | Nigeria Government International Bond, 7.88%, 2/16/32(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;671583 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370000 | Nigeria Government International Bond, 8.63%, 1/13/36(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;398277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360000 | Nigeria Government International Bond, 9.13%, 1/13/46(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;386490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1135000 | Nigeria Government International Bond, 9.63%, 6/9/31(a) | &nbsp;&nbsp;&nbsp;1288607 |
|  |  | &nbsp;&nbsp;&nbsp;4004365 |
| **Oman — 1.2%** | **Oman — 1.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1465000 | Oman Government International Bond, 6.75%, 1/17/48(a) | &nbsp;&nbsp;&nbsp;1612026 |
| **Pakistan — 1.6%** | **Pakistan — 1.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;830000 | Pakistan Government International Bond, EMTN, 6.00%, 4/8/26(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;826951 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Emerging Market Debt Fund (cont.)

------

December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1295000 | Pakistan Government International Bond, EMTN, 7.38%, 4/8/31(a) | $1288552 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145000 | Pakistan Government International Bond, 7.88%, 3/31/36(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142046 |
|  |  | &nbsp;&nbsp;&nbsp;2257549 |
| **Panama — 1.6%** | **Panama — 1.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1255000 | Panama Government International Bond, 4.50%, 4/1/56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;939879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1240000 | Panama Government International Bond, 6.85%, 3/28/54 | &nbsp;&nbsp;&nbsp;1291388 |
|  |  | &nbsp;&nbsp;&nbsp;2231267 |
| **Paraguay — 1.6%** | **Paraguay — 1.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;860000 | Paraguay Government International Bond, 5.40%, 3/30/50(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;804290 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235000 | Paraguay Government International Bond, 5.85%, 8/21/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249108 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230000 | Paraguay Government International Bond, 6.00%, 2/9/36(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246471 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290000 | Paraguay Government International Bond, 6.65%, 3/4/55(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;314893 |
| &nbsp;&nbsp;4,379,000,000(j) | Paraguay Government International Bond, 7.90%, 2/9/31(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;632953 |
|  |  | &nbsp;&nbsp;&nbsp;2247715 |
| **Peru — 0.4%** | **Peru — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;585000 | Peruvian Government International Bond, 5.88%, 8/8/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;578386 |
| **Philippines — 1.4%** | **Philippines — 1.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650,000(d) | Philippine Government International Bond, 1.20%, 4/28/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;647665 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;835000 | Philippine Government International Bond, 2.95%, 5/5/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;584446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710000 | Philippine Government International Bond, 5.60%, 5/14/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;714620 |
|  |  | &nbsp;&nbsp;&nbsp;1946731 |
| **Poland — 0.8%** | **Poland — 0.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | Bank Gospodarstwa Krajowego, EMTN, 5.38%, 5/22/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;617792 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450000 | Republic of Poland Government International Bond, 5.75%, 11/16/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;481458 |
|  |  | &nbsp;&nbsp;&nbsp;1099250 |
| **Romania — 4.0%** | **Romania — 4.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250,000(d) | Romanian Government International Bond, Series REGs, 5.13%, 9/24/31(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300593 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570,000(d) | Romanian Government International Bond, 5.38%, 6/7/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;676007 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1384000 | Romanian Government International Bond, 5.75%, 3/24/35(a) | &nbsp;&nbsp;&nbsp;1369322 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;890,000(d) | Romanian Government International Bond, 6.13%, 10/7/37(a) | &nbsp;&nbsp;&nbsp;1050260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390000 | Romanian Government International Bond, 6.38%, 1/30/34(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615,000(d) | Romanian Government International Bond, 6.50%, 10/7/45(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;718884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570000 | Romanian Government International Bond, 6.63%, 5/16/36(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;594274 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | Romanian Government International Bond, 7.50%, 2/10/37(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;386739 |
|  |  | &nbsp;&nbsp;&nbsp;5501266 |
| **Senegal — 0.2%** | **Senegal — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530000 | Senegal Government International Bond, 6.25%, 5/23/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306204 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Emerging Market Debt Fund (cont.)

------

December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| **Serbia — 0.7%** | **Serbia — 0.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$250000 | Serbia International Bond, 6.00%, 6/12/34(a) | &nbsp;&nbsp;&nbsp;$258142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | Serbia International Bond, 6.25%, 5/26/28(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;414052 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | Serbia International Bond, 6.50%, 9/26/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214516 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;886710 |
| **South Africa — 4.8%** | **South Africa — 4.8%** |  |
| &nbsp;&nbsp;18,060,000(k) | Republic of South Africa Government Bond, Series 2037, 8.50%, 1/31/37 | &nbsp;&nbsp;&nbsp;1083614 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;915000 | Republic of South Africa Government International Bond, 5.00%, 10/12/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;715911 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | Republic of South Africa Government International Bond, 5.38%, 7/24/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;848024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1275000 | Republic of South Africa Government International Bond, 6.13%, 12/11/37(c) | &nbsp;&nbsp;&nbsp;1256896 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1290000 | Republic of South Africa Government International Bond, 7.10%, 11/19/36(a) | &nbsp;&nbsp;&nbsp;1381394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;915000 | Republic of South Africa Government International Bond, 7.25%, 12/11/55(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;906203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | Republic of South Africa Government International Bond, 7.30%, 4/20/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | Republic of South Africa Government International Bond, 7.95%, 11/19/54(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215029 |
|  |  | &nbsp;&nbsp;&nbsp;6608607 |
| **Sri Lanka — 1.1%** | **Sri Lanka — 1.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265000 | Sri Lanka Government International Bond, 3.10%, 1/15/30(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | Sri Lanka Government International Bond, 3.60%, 6/15/35(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240000 | Sri Lanka Government International Bond, 3.60%, 5/15/36(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217489 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;490000 | Sri Lanka Government International Bond, 3.60%, 2/15/38(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445502 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;284700 | Sri Lanka Government International Bond, 4.00%, 4/15/28(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272599 |
|  |  | &nbsp;&nbsp;&nbsp;1452239 |
| **Suriname — 0.7%** | **Suriname — 0.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | Suriname Government International Bond, 7.70%, 11/6/30(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;413264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475000 | Suriname Government International Bond, 8.50%, 11/6/35(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;513279 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;926543 |
| **Tunisia — 0.6%** | **Tunisia — 0.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;690,000(d) | Banque Centrale de Tunisie International Bond, 6.38%, 7/15/26(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;810158 |
| **Turkey — 4.4%** | **Turkey — 4.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480000 | Istanbul Metropolitan Municipality, 10.50%, 12/6/28(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;526884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2320000 | Turkey Government International Bond, 4.88%, 4/16/43 | &nbsp;&nbsp;&nbsp;1784652 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1045000 | Turkiye Government International Bond, 6.95%, 9/16/35 | &nbsp;&nbsp;&nbsp;1075025 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Emerging Market Debt Fund (cont.)

------

December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| &nbsp;&nbsp;&nbsp;$506000 | Turkiye Government International Bond, Series 7Y, 7.13%, 2/12/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$535746 |
| &nbsp;&nbsp;2040000 | Turkiye Government International Bond, 7.25%, 5/29/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2168534 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6090841 |
| **Ukraine — 1.3%** | **Ukraine — 1.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;998000 | Ukraine Government International Bond, 0.00%, 2/1/34(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475268 |
| &nbsp;&nbsp;1375396 | Ukraine Government International Bond, 4.50%, 2/1/34(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;837002 |
| &nbsp;&nbsp;&nbsp;&nbsp;234604 | Ukraine Government International Bond, 4.50%, 2/1/35(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140123 |
| &nbsp;&nbsp;&nbsp;&nbsp;568000 | Ukraine Government International Bond, 4.50%, 2/1/36(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;333512 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1785905 |
| **United Arab Emirates — 0.3%** | **United Arab Emirates — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;599000 | Finance Department Government of Sharjah, GMTN, 4.00%, 7/28/50(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;401131 |
| **Uruguay — 1.6%** | **Uruguay — 1.6%** |  |
| &nbsp;&nbsp;1147599 | Uruguay Government International Bond, 4.98%, 4/20/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1044256 |
| &nbsp;&nbsp;1120000 | Uruguay Government International Bond, 5.44%, 2/14/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1164015 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2208271 |
| **Uzbekistan — 1.5%** | **Uzbekistan — 1.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;430000 | Republic of Uzbekistan International Bond, 3.90%, 10/19/31(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396727 |
| &nbsp;&nbsp;&nbsp;&nbsp;257000 | Republic of Uzbekistan International Bond, 6.90%, 2/28/32(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275894 |
| &nbsp;&nbsp;&nbsp;&nbsp;760000 | Republic of Uzbekistan International Bond, EMTN, 7.85%, 10/12/28(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;813860 |
| &nbsp;&nbsp;&nbsp;&nbsp;650000 | Uzbekneftegaz JSC, 4.75%, 11/16/28(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625356 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2111837 |
| **Venezuela — 1.4%** | **Venezuela — 1.4%** |  |
| &nbsp;&nbsp;2339000 | Venezuela Government International Bond, 6.00%, 12/9/20(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;621096 |
| &nbsp;&nbsp;3070000 | Venezuela Government International Bond, 7.75%, 10/13/19(a),(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;808175 |
| &nbsp;&nbsp;1165000 | Venezuela Government International Bond, 11.75%, 10/21/26(a),(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;377223 |
| &nbsp;&nbsp;&nbsp;&nbsp;125000 | Venezuela Government International Bond, 11.95%, 8/5/31(a),(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40080 |
| &nbsp;&nbsp;&nbsp;&nbsp;375000 | Venezuela Government International Bond, 12.75%, 8/23/22(a),(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119725 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1966299 |
| **Zambia — 0.5%** | **Zambia — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;520000 | Zambia Government International Bond, 0.50%, 12/31/53(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367293 |
| &nbsp;&nbsp;&nbsp;&nbsp;374742 | Zambia Government International Bond, 5.75%, 6/30/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;368652 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;735945 |
| **Total Foreign Government Bonds** | **Total Foreign Government Bonds** | &nbsp;&nbsp;&nbsp;**105616608** |
| (Cost $96,970,091) | (Cost $96,970,091) |  |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Emerging Market Debt Fund (cont.)

------

December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| **Corporate Bonds — 18.5%** | **Corporate Bonds — 18.5%** |  |
| **Brazil — 0.2%** | **Brazil — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$319254 | MV24 Capital BV, 6.75%, 6/1/34(a) | &nbsp;&nbsp;&nbsp;$316619 |
| **Chile — 1.2%** | **Chile — 1.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | Corp. Nacional del Cobre de Chile, 5.13%, 2/2/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | Corp. Nacional del Cobre de Chile, 5.95%, 1/8/34(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;835408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | Corp. Nacional del Cobre de Chile, 6.30%, 9/8/53(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;409435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | Empresa Nacional del Petroleo, 5.95%, 7/30/34(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208616 |
|  |  | &nbsp;&nbsp;&nbsp;1654076 |
| **Colombia — 0.9%** | **Colombia — 0.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;765000 | Ecopetrol SA, 4.63%, 11/2/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;681804 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565000 | Ecopetrol SA, 8.88%, 1/13/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;603491 |
|  |  | &nbsp;&nbsp;&nbsp;1285295 |
| **El Salvador — 0.1%** | **El Salvador — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152000 | Comision Ejecutiva Hidroelectrica del Rio Lempa, 8.65%, 1/24/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163140 |
| **Jamaica — 0.4%** | **Jamaica — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555000 | Montego Bay Airport Revenue Finance Ltd., 6.60%, 6/15/35(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;552612 |
| **Malaysia — 0.8%** | **Malaysia — 0.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1070000 | Petronas Capital Ltd., 5.85%, 4/3/55(a) | &nbsp;&nbsp;&nbsp;1122369 |
| **Mexico — 5.9%** | **Mexico — 5.9%** |  |
| &nbsp;&nbsp;12,580,000(l) | America Movil SAB de CV, 9.50%, 1/27/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;708765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;730000 | Comision Federal de Electricidad, 4.69%, 5/15/29(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;721403 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325000 | Comision Federal de Electricidad, 6.45%, 1/24/35(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;333479 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366488 | FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple, 7.25%, 1/31/41(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;384644 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;990000 | Mexico City Airport Trust, 5.50%, 7/31/47(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;868406 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1386000 | Petroleos Mexicanos, 5.95%, 1/28/31 | &nbsp;&nbsp;&nbsp;1341123 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1375000 | Petroleos Mexicanos, GMTN, 6.75%, 9/21/47 | &nbsp;&nbsp;&nbsp;1125086 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2854000 | Petroleos Mexicanos, 7.69%, 1/23/50 | &nbsp;&nbsp;&nbsp;2556731 |
|  |  | &nbsp;&nbsp;&nbsp;8039637 |
| **Oman — 1.4%** | **Oman — 1.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;515000 | EDO Sukuk Ltd., 5.66%, 7/3/31(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;538467 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | EDO Sukuk Ltd., 5.88%, 9/21/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;529549 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;890000 | OQ SAOC, GMTN, 5.13%, 5/6/28(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;896463 |
|  |  | &nbsp;&nbsp;&nbsp;1964479 |
| **Panama — 0.5%** | **Panama — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;676794 | AES Panama Generation Holdings Srl, 4.38%, 5/31/30(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;636499 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Emerging Market Debt Fund (cont.)

------

December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| **Paraguay — 0.3%** | **Paraguay — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$564667 | Rutas 2 & 7 Finance Ltd., 0.00%, 9/30/36(a),(f) | &nbsp;&nbsp;&nbsp;&nbsp;$427313 |
| **Peru — 0.6%** | **Peru — 0.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;500,000(m) | Credicorp Capital Sociedad Titulizadora SA, 9.70%, 3/5/45(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158664 |
| &nbsp;&nbsp;1,190,000(m) | Credicorp Capital Sociedad Titulizadora SA, 10.10%, 12/15/43(a),(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;382374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315000 | Niagara Energy SAC, 5.75%, 10/3/34(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321983 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;863021 |
| **Poland — 0.3%** | **Poland — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440000 | ORLEN SA, 6.00%, 1/30/35(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;462804 |
| **Saudi Arabia — 2.2%** | **Saudi Arabia — 2.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875000 | Greensaif Pipelines Bidco Sarl, EMTN, 5.85%, 2/23/36(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;915077 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1105000 | Greensaif Pipelines Bidco Sarl, 6.10%, 8/23/42(a) | &nbsp;&nbsp;&nbsp;&nbsp;1153356 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440000 | Greensaif Pipelines Bidco Sarl, 6.13%, 2/23/38(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;468097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | Greensaif Pipelines Bidco Sarl, 6.51%, 2/23/42(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;437081 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2973611 |
| **Turkey — 0.7%** | **Turkey — 0.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610000 | TC Ziraat Bankasi AS, EMTN, 8.00%, 1/16/29(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;647602 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | Turkiye Varlik Fonu Yonetimi AS, 7.75%, 9/10/35(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262059 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;909661 |
| **United Arab Emirates — 2.6%** | **United Arab Emirates — 2.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;930000 | Abu Dhabi Developmental Holding Co. PJSC, 5.25%, 10/2/54(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;899106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;917000 | Adnoc Murban Rsc Ltd., 5.13%, 9/11/54(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;861911 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | DP World Crescent Ltd., 5.50%, 9/13/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;412146 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355189 | Galaxy Pipeline Assets Bidco Ltd., 2.16%, 3/31/34(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321776 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1222462 | Galaxy Pipeline Assets Bidco Ltd., 2.94%, 9/30/40(a) | &nbsp;&nbsp;&nbsp;&nbsp;1042275 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;3537214 |
| **Uzbekistan — 0.2%** | **Uzbekistan — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | Navoi Mining & Metallurgical Combinat, 6.70%, 10/17/28(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258680 |
| **Venezuela — 0.2%** | **Venezuela — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260000 | Petroleos de Venezuela SA, 8.50%, 10/27/20(a),(i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261823 |
| **Total Corporate Bonds** | **Total Corporate Bonds** | &nbsp;&nbsp;&nbsp;**25428853** |
| (Cost $24,415,533) | (Cost $24,415,533) |  |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Emerging Market Debt Fund (cont.)

------

December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| **Municipal Bond — 0.2%** | **Municipal Bond — 0.2%** |  |
| **Turkey — 0.2%** | **Turkey — 0.2%** |  |
| $200000 | Istanbul Metropolitan Municipality, 10.75%, 4/12/27(a) | $212481 |
| **Total Municipal Bond** | **Total Municipal Bond** | &nbsp;&nbsp;&nbsp;**212481** |
| (Cost $198,109) |  |  |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  |  |
| **Investment Company — 1.7%** | **Investment Company — 1.7%** |  |
| 2300236 | RBC BlueBay U.S. Government Money Market Fund,<br> Institutional Class 1 (n) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2300236 |
| **Total Investment Company** | **Total Investment Company** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2300236** |
| (Cost $2,300,236) | (Cost $2,300,236) |  |
| **Total Investments** | **Total Investments** | **$133558178** |
| (Cost $123,883,969)(o) — 97.3% | (Cost $123,883,969)(o) — 97.3% |  |
| **Other assets in excess of liabilities — 2.7%** | **Other assets in excess of liabilities — 2.7%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3771367** |
| **NET ASSETS — 100.0%** | **NET ASSETS — 100.0%** | **$137329545** |

---

------

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

(b) Principal amount denoted in Colombian Peso.

(c) 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.

(d) Principal amount denoted in Euros.

(e) Principal amount denoted in Dominican peso.

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

(g) Principal amount denoted in Egyptian Pound.

(h) Principal amount denoted in Kazakhstani tenge.

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

(j) Principal amount denoted in Paraguayan Guarani.

(k) Principal amount denoted in South African Rand.

(l) Principal amount denoted in Mexican peso.

(m) Principal amount denoted in Peruvian sol.

(n) Affiliated investment.

(o) See Notes to Schedules of Portfolio Investments for the tax cost of securities and the breakdown of unrealized appreciation (depreciation).

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Emerging Market Debt Fund (cont.)

------

December 31, 2025 (Unaudited)

#### Foreign currency exchange contracts as of December 31, 2025:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Counterparty** | **Settlement<br> Date** | **Value/Unrealized<br> Appreciation<br> (Depreciation)** |
| CLP | 633047259 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;679615 | Citibank N.A. | 1/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;$23891 |
| CLP | 603691460 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;660386 | Citibank N.A. | 1/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10497 |
| CNH | &nbsp;&nbsp;&nbsp;&nbsp;8882569 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1254074 | Citibank N.A. | 1/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20998 |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525314 | Citibank N.A. | 1/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9959 |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69216 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81103 | Citibank N.A. | 1/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;$65670 |
| KRW | 682375232 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;482193 | Citibank N.A. | 1/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;$(8957) |
| KRW | 203826368 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144034 | Citibank N.A. | 1/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2678) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;1250000 | CNH | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8866134 | Citibank N.A. | 1/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;(22713) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;1316941 | &nbsp;&nbsp;COP | 5204680355 | Citibank N.A. | 1/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;(44256) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;8921099 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7613783 | Citibank N.A. | 1/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;(35947) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;1306981 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1130422 | Citibank N.A. | 1/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;(22875) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;489709 | &nbsp;&nbsp;KZT | &nbsp;&nbsp;&nbsp;272792512 | Citibank N.A. | 1/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;(44653) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;591819 | MXN | &nbsp;&nbsp;&nbsp;&nbsp;10996578 | Citibank N.A. | 1/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;(17553) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;1825747 | &nbsp;&nbsp;PEN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6294445 | Citibank N.A. | 1/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;(45406) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;975857 | &nbsp;&nbsp;ZAR | &nbsp;&nbsp;&nbsp;&nbsp;16803802 | Citibank N.A. | 1/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;(37288) |
|  |  |  |  |  |  | $(282326) |
| **Total** |  |  |  |  |  | $(216656) |

---

#### Financial futures contracts as of December 31, 2025:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Long Position** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value/Unrealized<br> Depreciation** | &nbsp;&nbsp;**Notional<br> Value** | &nbsp;&nbsp;**Notional<br> Value** | &nbsp;&nbsp;**Clearinghouse** |
| 10 Year U.S. Ultra Treasury Bond | &nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;March 2026 | &nbsp;&nbsp;$(5638) | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;$805109 | &nbsp;&nbsp;Morgan Stanley & Co. LLC |
| 2 Year U.S. Treasury Note | &nbsp;&nbsp;29 | &nbsp;&nbsp;March 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4324) | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;6054883 | &nbsp;&nbsp;Morgan Stanley & Co. LLC |
| 30 Year U.S. Ultra Treasury Bond | &nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;March 2026 | &nbsp;&nbsp;&nbsp;&nbsp;(16413) | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;826000 | &nbsp;&nbsp;Morgan Stanley & Co. LLC |
| **Total** |  |  | &nbsp;&nbsp;$(26375) |  |  |  |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Emerging Market Debt Fund (cont.)

------

December 31, 2025 (Unaudited)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Short Position** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value/Unrealized<br> Appreciation** | &nbsp;&nbsp;**Notional<br> Value** | &nbsp;&nbsp;**Notional<br> Value** | &nbsp;&nbsp;**Clearinghouse** |
| 10 Year Euro-Bund | &nbsp;&nbsp;32 | &nbsp;&nbsp;March 2026 | &nbsp;&nbsp;$44420 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;$4797448 | &nbsp;&nbsp;Morgan Stanley & Co. LLC |
| **Total** |  |  | &nbsp;&nbsp;$44420 |  |  |  |

---

#### Credit default swaps buy protection as of December 31, 2025:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fixed<br> Rate** | **Issuer** | **Payment<br> Frequency** | **Counter-<br> party** | **Expiration<br> Date** | **Notional<br> Amount<br> (000)** | **Notional<br> Amount<br> (000)** | **Premium<br> Paid/<br> (Received)** | **Unrealized<br> Depreciation** | **Value** |
| 5.00% | Argentina Government International Bond | Quarterly | Barclays Bank plc | 12/20/30 | USD | &nbsp;&nbsp;&nbsp;&nbsp;73 | &nbsp;&nbsp;&nbsp;$28790 | &nbsp;&nbsp;$(24584) | &nbsp;&nbsp;&nbsp;&nbsp;$4206 |
| 5.00% | Argentine Republic Government International Bond | Quarterly | Barclays Bank plc | 12/20/30 | USD | &nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94266 | &nbsp;&nbsp;&nbsp;&nbsp;(75253) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19013 |
| 5.00% | Markit ITRAXX XOVER Index Series 44 | Quarterly | Morgan Stanley & Co. LLC | 12/20/30 | EUR | 2873 | &nbsp;&nbsp;(347426) | &nbsp;&nbsp;&nbsp;&nbsp;(31448) | &nbsp;&nbsp;(378874) |
| 1.00% | Saudi Government International Bond | Quarterly | Barclays Bank plc | 12/20/30 | USD | 3230 | &nbsp;&nbsp;&nbsp;&nbsp;(44153) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4761) | &nbsp;&nbsp;&nbsp;&nbsp;(48914) |
| 1.00% | Saudi Government International Bond | Quarterly | Morgan Stanley & Co. International plc | 12/20/30 | USD | 6630 | &nbsp;&nbsp;&nbsp;&nbsp;(92892) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7511) | &nbsp;&nbsp;(100403) |
| **Total** |  |  |  |  |  |  | $(361415) | $(143557) | $(504972) |

---

#### Credit default swaps sell protection as of December 31, 2025:

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fixed<br> Rate** | **Issuer** | **Payment<br> Frequency** | **Counter-<br> party** | **Expiration<br> Date** | **ICS%** | **Notional<br> Amount<br> (000)** | **Notional<br> Amount<br> (000)** | **Premium<br> Paid/<br> (Received)** | **Unreal.<br> App.** | **Value** |
| 1.00% | Nigeria Government International Bond\* | Quarterly | Barclays Bank plc | 6/20/30 | 2.96 | USD | 378 | $(74901) | $45204 | $(29697) |
| **Total** |  |  |  |  |  |  |  | $(74901) | $45204 | $(29697) |

---

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

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Emerging Market Debt Fund (cont.)

------

December 31, 2025 (Unaudited)

---

| |
|:---|
| Abbreviations used are defined below: |
| CLP - Chilean Peso |
| CNH - Chinese Yuan Renminbi |
| COP - Colombian Peso |
| EMTN - Euro Medium Term Note |
| EUR - Euro |
| FOR - Foreign Ownership Receipt |
| GMTN - Global Medium Term Note |
| ICS - Implied Credit Spread |
| KRW - South Korean Won |
| KZT - Kazakhstani Tenge |
| MTN - Medium Term Note |
| MXN - Mexican Peso |
| PEN - Peruvian Nuevo Sol |
| USD - United States Dollar |
| ZAR - South African Rand |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Minneapolis

  - **State:** MN

  - **Foreign country:** US

  - **Zip / Postal Code:** 55401

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

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

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

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

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

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

- **a. Date of fiscal year-end:** 2026-09-30

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $139054236.13

**Total Liabilities:** $1812394.13

**Net Assets:** $137241842.00

**Delayed Delivery Securities:** $549897.62

**Cash Not Reported:** $1850062.37

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 118.84000000 | **1-Year:** 3392.45000000 | **5-Year:** 9776.06000000 | **10-Year:** 18495.29000000 | **30-Year:** 11212.16000000

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

- **3-Month:** 164.89000000 | **1-Year:** 3825.66000000 | **5-Year:** 16031.28000000 | **10-Year:** 24432.59000000 | **30-Year:** 7111.95000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000102917 | 2.02%                | 0.49%                | 1.16%                |
| Class ID C000102918 | 2.00%                | 0.50%                | 1.19%                |
| Class ID C000176573 | 2.10%                | 0.50%                | 1.18%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $321067.42               | $2091728.32                                |
| Month 2  | $499713.85               | $-192890.54                                |
| Month 3  | $104940.38               | $852395.65                                 |

**Designated Index Information**

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

- **Index Identifier:** JPGCCOMP

### Schedule of Portfolio Investments

| Name                                          | Title                                                            | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |    Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CITIBANK, NATIONAL ASSOCIATION                | USD/MXN FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-17553.30    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                             | CDS REPUBLIC OF ARGENTINA                                        | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $19013.06     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| ROMANIA                                       | Romanian Government International Bond                           | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     570000 | PA      | $676007.23    | 0.49%             | 2033-06-07      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF VENEZUELA                         | Venezuela Government International Bond                          | CUSIP: 000000000<br>LEI: 529900XM8PJTJK5OJI77 | Long             | DBT              | NUSS              | VE        |    3070000 | PA      | $808175.21    | 0.59%             | 2019-10-13      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| REPUBLICA ORIENT URUGUAY                      | Uruguay Government International Bond                            | CUSIP: 760942BH4<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |    1120000 | PA      | $1164015.37   | 0.85%             | 2037-02-14      | Fixed         | 5.44%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                      | Republic of South Africa Government International Bond           | CUSIP: 836205BE3<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |     200000 | PA      | $201536.57    | 0.15%             | 2052-04-20      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                      | Republic of South Africa Government International Bond           | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |     200000 | PA      | $215028.63    | 0.16%             | 2054-11-19      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                       | Romanian Government International Bond                           | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     570000 | PA      | $594273.59    | 0.43%             | 2036-05-16      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                      | Republic of South Africa Government International Bond           | CUSIP: 836205AS3<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    1000000 | PA      | $848023.69    | 0.62%             | 2044-07-24      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                            | Dominican Republic International Bond                            | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |     765000 | PA      | $820783.38    | 0.60%             | 2037-03-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF CHILE                             | Chile Government International Bond                              | CUSIP: 168863DW5<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |     700000 | PA      | $553921.92    | 0.40%             | 2052-01-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COSTA RICA GOVERNMENT                         | Costa Rica Government International Bond                         | CUSIP: 000000000<br>LEI: 549300S1EK2VN6XVJP58 | Long             | DBT              | NUSS              | CR        |     650000 | PA      | $729173.47    | 0.53%             | 2054-11-13      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.   | US 10YR ULTRA                                                    | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |          7 | NC      | $-5638.50     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| REPUBLIC OF GHANA                             | Ghana Government International Bond                              | CUSIP: 000000000<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |     633000 | PA      | $578417.10    | 0.42%             | 2035-07-03      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| SANTA FE DE BOGOTA D.C.                       | Bogota Distrito Capital                                          | CUSIP: 097230AC0<br>LEI: 529900L83GNDA0PLHT11 | Long             | DBT              | NUSS              | CO        | 5143000000 | PA      | $1358612.99   | 0.99%             | 2035-11-05      | Fixed         | 13.14%                | No            |                  2 | On Loan: No      |
| GREENSAIF PIPELINES BIDC                      | Greensaif Pipelines Bidco Sarl                                   | CUSIP: 000000000<br>LEI: 549300YWDGUXPB8GRP47 | Long             | DBT              | CORP              | LU        |    1105000 | PA      | $1153356.12   | 0.84%             | 2042-08-23      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF COLOMBIA                          | Colombia Government International Bond                           | CUSIP: 195325EP6<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    1995000 | PA      | $2079836.40   | 1.52%             | 2036-11-07      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| TUNISIAN REPUBLIC                             | Tunisian Republic                                                | CUSIP: 000000000<br>LEI: 254900B5LFB16S9T2T11 | Long             | DBT              | NUSS              | TN        |     690000 | PA      | $810157.59    | 0.59%             | 2026-07-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PARAGUAY                          | Paraguay Government International Bond                           | CUSIP: 699149AP5<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        | 4379000000 | PA      | $632953.37    | 0.46%             | 2031-02-09      | Fixed         | 7.90%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                            | Dominican Republic International Bond                            | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |     480000 | PA      | $505538.80    | 0.37%             | 2036-06-01      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| NIAGARA ENERGY SAC                            | Niagara Energy SAC                                               | CUSIP: 000000000<br>LEI: 254900V9UGCG42YQ6848 | Long             | DBT              | CORP              | PE        |     315000 | PA      | $321982.60    | 0.23%             | 2034-10-03      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| UNITED MEXICAN STATES                         | Mexico Government International Bond                             | CUSIP: 91087BBC3<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     975000 | PA      | $1040652.10   | 0.76%             | 2037-05-13      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF KENYA                             | Republic of Kenya Government International Bond                  | CUSIP: 000000000<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |     260000 | PA      | $284336.33    | 0.21%             | 2031-02-16      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                | ZAR/USD FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-37287.95    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| MEXICO CITY ARPT TRUST                        | Mexico City Airport Trust                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |     990000 | PA      | $868406.26    | 0.63%             | 2047-07-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| COMISION FEDERAL DE ELEC                      | Comision Federal de Electricidad                                 | CUSIP: 000000000<br>LEI: 4469000001BFPONMPF32 | Long             | DBT              | CORP              | MX        |     325000 | PA      | $333479.09    | 0.24%             | 2035-01-24      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                             | Lebanon Government International Bond                            | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |       5000 | PA      | $1167.25      | 0.00%             | 2034-05-17      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PARAGUAY                          | Paraguay Government International Bond                           | CUSIP: 000000000<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |     230000 | PA      | $246470.58    | 0.18%             | 2036-02-09      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| EGYTB 0 05/26/26 144A CLN GS                  | EGYTB 0 05/26/26 144A CLN GS                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | EG        |   78625000 | PA      | $1501362.13   | 1.09%             | 2026-05-28      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                         | Sri Lanka Government International Bond                          | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |     284700 | PA      | $272599.32    | 0.20%             | 2028-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CODELCO INC                                   | Corp Nacional del Cobre de Chile                                 | CUSIP: 000000000<br>LEI: 549300UVMBCBCIPSUI70 | Long             | DBT              | CORP              | CL        |     200000 | PA      | $200616.63    | 0.15%             | 2033-02-02      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                             | Lebanon Government International Bond                            | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |    1256000 | PA      | $290945.03    | 0.21%             | 2022-10-04      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                      | Republic of South Africa Government Bond                         | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |   18060000 | PA      | $1083613.94   | 0.79%             | 2037-01-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                       | Romanian Government International Bond                           | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    1384000 | PA      | $1369321.85   | 1.00%             | 2035-03-24      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                | USD/CNH FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $20998.22     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF PERU                              | Peruvian Government International Bond                           | CUSIP: 715638EC2<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     585000 | PA      | $578386.39    | 0.42%             | 2054-08-08      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PANAMA                            | Panama Government International Bond                             | CUSIP: 698299BM5<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |    1255000 | PA      | $939878.58    | 0.68%             | 2056-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| EDO SUKUK LTD                                 | EDO Sukuk Ltd                                                    | CUSIP: 000000000<br>LEI: 5493000LZIE4T625R469 | Long             | DBT              | CORP              | KY        |     500000 | PA      | $529549.13    | 0.39%             | 2033-09-21      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                       | Romanian Government International Bond                           | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     890000 | PA      | $1050260.54   | 0.77%             | 2037-10-07      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF NIGERIA                           | Nigeria Government International Bond                            | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |     850000 | PA      | $853472.19    | 0.62%             | 2028-09-28      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIO                      | Goldman Sachs International                                      | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | Long             | DBT              | CORP              | GB        |   35700000 | PA      | $711431.30    | 0.52%             | 2026-03-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF CHILE                             | Chile Government International Bond                              | CUSIP: 168863DQ8<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |     400000 | PA      | $248488.15    | 0.18%             | 2061-01-22      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PHILIPPINES                       | Philippine Government International Bond                         | CUSIP: 718286DB0<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |     710000 | PA      | $714620.00    | 0.52%             | 2049-05-14      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| FED REPUBLIC OF BRAZIL                        | Brazilian Government International Bond                          | CUSIP: 105756CN8<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |     685000 | PA      | $679517.02    | 0.50%             | 2056-01-12      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF INDONESIA                         | Indonesia Government International Bond                          | CUSIP: 455780CX2<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |    1035000 | PA      | $672091.50    | 0.49%             | 2071-03-12      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.   | ULTRA U.S. TREASURY BOND                                         | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |          7 | NC      | $-16413.04    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                      | Republic of South Africa Government International Bond           | CUSIP: 836205BJ2<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |     915000 | PA      | $906202.72    | 0.66%             | 2055-12-11      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SURINAME INT                      | Suriname Government International Bond                           | CUSIP: 000000000<br>LEI: 254900SYU4G5JM13TN77 | Long             | DBT              | NUSS              | SR        |     400000 | PA      | $413264.14    | 0.30%             | 2030-11-06      | Fixed         | 7.70%                 | No            |                  2 | On Loan: No      |
| REPUBLICA ORIENT URUGUAY                      | Uruguay Government International Bond                            | CUSIP: 760942BD3<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |    1147599 | PA      | $1044255.74   | 0.76%             | 2055-04-20      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| EGYPT TASKEEK CO                              | Egyptian Financial Co for Sovereign Taskeek/The                  | CUSIP: 000000000<br>LEI: 894500CX5LI3HIC87H85 | Long             | DBT              | NUSS              | EG        |     395000 | PA      | $418387.80    | 0.30%             | 2032-10-07      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF COLOMBIA                          | Colombia Government International Bond                           | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |     350000 | PA      | $398088.79    | 0.29%             | 2038-11-26      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| TURKIYE VARLIK FONU                           | Turkiye Varlik Fonu Yonetimi AS                                  | CUSIP: 000000000<br>LEI: 789000MAPAG7J8DI3112 | Long             | DBT              | CORP              | TR        |     250000 | PA      | $262058.98    | 0.19%             | 2035-09-10      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| GREENSAIF PIPELINES BIDC                      | Greensaif Pipelines Bidco Sarl                                   | CUSIP: 000000000<br>LEI: 549300YWDGUXPB8GRP47 | Long             | DBT              | CORP              | LU        |     875000 | PA      | $915076.58    | 0.67%             | 2036-02-23      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| GALAXY PIPELINE ASSETS                        | Galaxy Pipeline Assets Bidco Ltd                                 | CUSIP: 000000000<br>LEI: 549300L82YB0C6JQIC26 | Long             | DBT              | CORP              | JE        |     355189 | PA      | $321775.70    | 0.23%             | 2034-03-31      | Fixed         | 2.16%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                            | Dominican Republic International Bond                            | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |     585000 | PA      | $628496.45    | 0.46%             | 2031-02-03      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| EDO SUKUK LTD                                 | EDO Sukuk Ltd                                                    | CUSIP: 000000000<br>LEI: 5493000LZIE4T625R469 | Long             | DBT              | CORP              | KY        |     515000 | PA      | $538467.57    | 0.39%             | 2031-07-03      | Fixed         | 5.66%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                      | CDS ITRAXX.XO.44.V1                                              | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DCR              | CORP              | US        |          1 | NC      | $-378874.18   | -0.28%            |  |  |  | No            |                  2 | On Loan: No      |
| IVORY COAST                                   | Ivory Coast Government International Bond                        | CUSIP: 000000000<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |     210000 | PA      | $228321.41    | 0.17%             | 2037-01-30      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| DEVELOPMENT BANK OF KAZA                      | Development Bank of Kazakhstan JSC                               | CUSIP: 000000000<br>LEI: 213800LCDPGJ1BI7KX98 | Long             | DBT              | NUSS              | KZ        |     600000 | PA      | $614313.98    | 0.45%             | 2029-10-23      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                       | Romanian Government International Bond                           | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     350000 | PA      | $386739.12    | 0.28%             | 2037-02-10      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF VENEZUELA                         | Venezuela Government International Bond                          | CUSIP: 000000000<br>LEI: 529900XM8PJTJK5OJI77 | Long             | DBT              | NUSS              | VE        |     125000 | PA      | $40079.83     | 0.03%             | 2031-08-05      | Fixed         | 11.95%                | No            |                  2 | On Loan: No      |
| REPUBLIC OF VENEZUELA                         | Venezuela Government International Bond                          | CUSIP: 000000000<br>LEI: 529900XM8PJTJK5OJI77 | Long             | DBT              | NUSS              | VE        |     375000 | PA      | $119725.42    | 0.09%             | 2022-08-23      | Fixed         | 12.75%                | No            |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                             | Lebanon Government International Bond                            | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |     716000 | PA      | $165976.98    | 0.12%             | 2023-01-27      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GUATEMALA                         | Guatemala Government Bond                                        | CUSIP: 000000000<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |     680000 | PA      | $725741.70    | 0.53%             | 2037-02-06      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SURINAME INT                      | Suriname Government International Bond                           | CUSIP: 000000000<br>LEI: 254900SYU4G5JM13TN77 | Long             | DBT              | NUSS              | SR        |     475000 | PA      | $513279.29    | 0.37%             | 2035-11-06      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                         | Sri Lanka Government International Bond                          | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |     490000 | PA      | $445501.42    | 0.32%             | 2038-02-15      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF NIGERIA                           | Nigeria Government International Bond                            | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |    1135000 | PA      | $1288607.32   | 0.94%             | 2031-06-09      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                             | CDS FEDERAL REPUBLIC OF NIGERIA                                  | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-29696.95    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF NIGERIA                           | Nigeria Government International Bond                            | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |     400000 | PA      | $405935.67    | 0.30%             | 2033-09-28      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF COLOMBIA                          | Colombia Government International Bond                           | CUSIP: 195325EL5<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    1650000 | PA      | $1757638.33   | 1.28%             | 2035-11-14      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PARAGUAY                          | Paraguay Government International Bond                           | CUSIP: 000000000<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |     290000 | PA      | $314893.33    | 0.23%             | 2055-03-04      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF NIGERIA                           | Nigeria Government International Bond                            | CUSIP: 65412AFF4<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |     370000 | PA      | $398276.75    | 0.29%             | 2036-01-13      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF KENYA                             | Republic of Kenya Government International Bond                  | CUSIP: 000000000<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |     880000 | PA      | $934454.70    | 0.68%             | 2036-03-05      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| IVORY COAST                                   | Ivory Coast Government International Bond                        | CUSIP: 000000000<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |     300000 | PA      | $323281.37    | 0.24%             | 2036-04-01      | Fixed         | 8.07%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF KENYA                             | Republic of Kenya Government International Bond                  | CUSIP: 000000000<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |     835000 | PA      | $834814.61    | 0.61%             | 2033-10-09      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| EXPORT-IMPORT BK INDIA                        | Export-Import Bank of India                                      | CUSIP: 000000000<br>LEI: 335800OFZ8YEIVN1QI11 | Long             | DBT              | NUSS              | IN        |     905000 | PA      | $942299.38    | 0.69%             | 2035-01-13      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ZAMBIA                            | Zambia Government International Bond                             | CUSIP: 000000000<br>LEI: 213800DMLAZ6LGMMD849 | Long             | DBT              | NUSS              | ZM        |     520000 | PA      | $367292.91    | 0.27%             | 2053-12-31      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| ISLAMIC REP OF PAKISTAN                       | Pakistan Government International Bond                           | CUSIP: 000000000<br>LEI: 529900LOP29R5WKHOD86 | Long             | DBT              | NUSS              | PK        |    1295000 | PA      | $1288551.54   | 0.94%             | 2031-04-08      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                | CLP/USD FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $10497.19     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| UZBEKISTAN INTL BOND                          | Republic of Uzbekistan International Bond                        | CUSIP: 000000000<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        |     760000 | PA      | $813860.33    | 0.59%             | 2028-10-12      | Fixed         | 7.85%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ARGENTINA                         | Argentine Republic Government International Bond                 | CUSIP: 040114HT0<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |    3240740 | PA      | $2410996.55   | 1.76%             | 2035-07-09      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                       | Romanian Government International Bond                           | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     390000 | PA      | $405186.93    | 0.30%             | 2034-01-30      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| KINGDOM OF BAHRAIN                            | Bahrain Government International Bond                            | CUSIP: 000000000<br>LEI: 549300RODM1WN85LFQ95 | Long             | DBT              | NUSS              | BH        |     400000 | PA      | $399562.62    | 0.29%             | 2037-10-06      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| UKRAINE GOVERNMENT                            | Ukraine Government International Bond                            | CUSIP: 000000000<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |    1375396 | PA      | $837001.90    | 0.61%             | 2034-02-01      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                             | Lebanon Government International Bond                            | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |    2251000 | PA      | $524205.66    | 0.38%             | 2021-04-12      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| EGYPT TASKEEK CO                              | Egyptian Financial Co for Sovereign Taskeek/The                  | CUSIP: 000000000<br>LEI: 894500CX5LI3HIC87H85 | Long             | DBT              | NUSS              | EG        |     250000 | PA      | $263204.59    | 0.19%             | 2028-06-25      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| DP WORLD CRESCENT LTD                         | DP World Crescent Ltd                                            | CUSIP: 000000000<br>LEI: 21380096JRTWB8TL9236 | Long             | DBT              | CORP              | KY        |     400000 | PA      | $412146.00    | 0.30%             | 2033-09-13      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TC ZIRAAT BANKASI AS                          | TC Ziraat Bankasi AS                                             | CUSIP: 000000000<br>LEI: 213800K5KTZFSUS8MR51 | Long             | DBT              | CORP              | TR        |     610000 | PA      | $647601.61    | 0.47%             | 2029-01-16      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| PROVINCIA DE BUENOS AIRE                      | Provincia de Buenos Aires/Government Bonds                       | CUSIP: 000000000<br>LEI: 549300L6AYROPOTQ4L07 | Long             | DBT              | NUSS              | AR        |    1196675 | PA      | $916636.85    | 0.67%             | 2037-09-01      | Variable      | 6.62%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                | CNH/USD FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-22713.01    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| ARAB REPUBLIC OF EGYPT                        | Egypt Government International Bond                              | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    1667000 | PA      | $1545780.08   | 1.13%             | 2048-02-21      | Fixed         | 7.90%                 | No            |                  2 | On Loan: No      |
| MONTEGO BAY AIRPORT REVE                      | Montego Bay Airport Revenue Finance Ltd                          | CUSIP: 000000000<br>LEI: 2549008BQQ5ON8H2UC19 | Long             | DBT              | CORP              | KY        |     555000 | PA      | $552612.03    | 0.40%             | 2035-06-15      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| UZBEKISTAN INTL BOND                          | Republic of Uzbekistan International Bond                        | CUSIP: 000000000<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        |     257000 | PA      | $275894.16    | 0.20%             | 2032-02-28      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PHILIPPINES                       | Philippine Government International Bond                         | CUSIP: 000000000<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |     650000 | PA      | $647664.94    | 0.47%             | 2033-04-28      | Fixed         | 1.20%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF COLOMBIA                          | Colombia Government International Bond                           | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |     410000 | PA      | $467411.05    | 0.34%             | 2034-11-26      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF NIGERIA                           | Nigeria Government International Bond                            | CUSIP: 65412AFG2<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |     360000 | PA      | $386490.32    | 0.28%             | 2046-01-13      | Fixed         | 9.13%                 | No            |                  2 | On Loan: No      |
| RUTAS 2 & 7 FINANCE LTD                       | Rutas 2 & 7 Finance Ltd                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |     564667 | PA      | $427313.29    | 0.31%             | 2036-09-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ISLAMIC REP OF PAKISTAN                       | Pakistan Government International Bond                           | CUSIP: 000000000<br>LEI: 529900LOP29R5WKHOD86 | Long             | DBT              | NUSS              | PK        |     830000 | PA      | $826951.45    | 0.60%             | 2026-04-08      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS                      | Citigroup Global Markets Holdings Inc/United States              | CUSIP: 173074YZ2<br>LEI: 82VOJDD5PTRDMVVMGV31 | Long             | DBT              | CORP              | US        |   27750000 | PA      | $550452.62    | 0.40%             | 2026-03-26      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GUATEMALA                         | Guatemala Government Bond                                        | CUSIP: 000000000<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |     390000 | PA      | $347716.43    | 0.25%             | 2033-10-07      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.   | US 2YR NOTE (CBT)                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |         29 | NC      | $-4324.13     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| ISTANBUL METROPOLITAN MU                      | Istanbul Metropolitan Municipality                               | CUSIP: 000000000<br>LEI: 213800T1VDQSNKA2MD76 | Long             | DBT              | NUSS              | TR        |     200000 | PA      | $212481.13    | 0.15%             | 2027-04-12      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| MV24 CAPITAL BV                               | MV24 Capital BV                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | NL        |     319254 | PA      | $316618.98    | 0.23%             | 2034-06-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ANGOLA                            | Angolan Government International Bond                            | CUSIP: 000000000<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |     590000 | PA      | $591621.22    | 0.43%             | 2028-05-09      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF VENEZUELA                         | Venezuela Government International Bond                          | CUSIP: 000000000<br>LEI: 529900XM8PJTJK5OJI77 | Long             | DBT              | NUSS              | VE        |    1165000 | PA      | $377223.01    | 0.27%             | 2026-10-21      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| BAITEREK NATIONAL MANAGI                      | Baiterek National Managing Holding JSC                           | CUSIP: 000000000<br>LEI: 984500B4F78F04253804 | Long             | DBT              | NUSS              | KZ        |     439000 | PA      | $436025.08    | 0.32%             | 2030-10-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                         | Sri Lanka Government International Bond                          | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |     265000 | PA      | $251323.90    | 0.18%             | 2030-01-15      | Variable      | 3.10%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF COLOMBIA                          | Colombia Government International Bond                           | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |     385000 | PA      | $444102.82    | 0.32%             | 2030-11-26      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CODELCO INC                                   | Corp Nacional del Cobre de Chile                                 | CUSIP: 000000000<br>LEI: 549300UVMBCBCIPSUI70 | Long             | DBT              | CORP              | CL        |     800000 | PA      | $835408.29    | 0.61%             | 2034-01-08      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF KENYA                             | Republic of Kenya Government International Bond                  | CUSIP: 000000000<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |     690000 | PA      | $697661.55    | 0.51%             | 2038-10-09      | Fixed         | 8.80%                 | No            |                  2 | On Loan: No      |
| PETRONAS CAPITAL LTD                          | Petronas Capital Ltd                                             | CUSIP: 000000000<br>LEI: 549300G7YFX3540OYR85 | Long             | DBT              | CORP              | MY        |    1070000 | PA      | $1122369.47   | 0.82%             | 2055-04-03      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                | CLP/USD FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $23891.43     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                | USD/EUR FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $9959.04      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF COLOMBIA                          | Colombia Government International Bond                           | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |     335000 | PA      | $377698.32    | 0.28%             | 2032-09-19      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KINGDOM OF MOROCCO                            | Morocco Government International Bond                            | CUSIP: 000000000<br>LEI: 529900F3MBW9XY5K1X07 | Long             | DBT              | NUSS              | MA        |    1860000 | PA      | $2229964.50   | 1.62%             | 2035-04-02      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| FED REPUBLIC OF BRAZIL                        | Brazilian Government International Bond                          | CUSIP: 105756CJ7<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |     210000 | PA      | $208285.68    | 0.15%             | 2054-05-13      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| ISLAMIC REP OF PAKISTAN                       | Pakistan Government International Bond                           | CUSIP: 000000000<br>LEI: 529900LOP29R5WKHOD86 | Long             | DBT              | NUSS              | PK        |     145000 | PA      | $142045.61    | 0.10%             | 2036-03-31      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ARGENTINA                         | Argentine Republic Government International Bond                 | CUSIP: 040114HV5<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |    3268816 | PA      | $2259354.24   | 1.65%             | 2041-07-09      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| UNITED MEXICAN STATES                         | Mexico Government International Bond                             | CUSIP: 91087BBN9<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     350000 | PA      | $409815.67    | 0.30%             | 2034-03-19      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ABU DHABI DEVELOPMENT HO                      | Abu Dhabi Developmental Holding Co PJSC                          | CUSIP: 000000000<br>LEI: 254900G082ZFKTCR2Q75 | Long             | DBT              | CORP              | AE        |     930000 | PA      | $899106.13    | 0.66%             | 2054-10-02      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ARAB REPUBLIC OF EGYPT                        | Egypt Government International Bond                              | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |     200000 | PA      | $205519.20    | 0.15%             | 2033-09-30      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF CHILE                             | Chile Government International Bond                              | CUSIP: 168863EA2<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |     925000 | PA      | $893342.69    | 0.65%             | 2054-01-05      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| FIN DEPT GOVT SHARJAH                         | Finance Department Government of Sharjah                         | CUSIP: 000000000<br>LEI: 254900ZNL8O3F1CLJO24 | Long             | DBT              | NUSS              | AE        |     599000 | PA      | $401130.63    | 0.29%             | 2050-07-28      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                | USD/EUR FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-35946.50    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC BlueBay U.S. Government Money Market Fund | RBC BlueBay U.S. Government Money Market Fund                    | CUSIP: 74926P696<br>LEI: 549300RFDC5U7WLJKO50 | Long             | STIV             | RF                | US        |    2234500 | NS      | $2234500.07   | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| REPUBLIC OF ANGOLA                            | Angolan Government International Bond                            | CUSIP: 000000000<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |     510000 | PA      | $438324.53    | 0.32%             | 2049-11-26      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| EMPRESA NACIONAL DEL PET                      | Empresa Nacional del Petroleo                                    | CUSIP: 000000000<br>LEI: 549300YP3P0JZBLIV197 | Long             | DBT              | CORP              | CL        |     200000 | PA      | $208616.28    | 0.15%             | 2034-07-30      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ANGOLA                            | Angolan Government International Bond                            | CUSIP: 000000000<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |     680000 | PA      | $673597.97    | 0.49%             | 2035-10-15      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ECUADOR                           | Ecuador Government International Bond                            | CUSIP: 000000000<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |     500000 | PA      | $424090.64    | 0.31%             | 2030-07-31      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CODELCO INC                                   | Corp Nacional del Cobre de Chile                                 | CUSIP: 000000000<br>LEI: 549300UVMBCBCIPSUI70 | Long             | DBT              | CORP              | CL        |     400000 | PA      | $409434.74    | 0.30%             | 2053-09-08      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF COLOMBIA                          | Colombia Government International Bond                           | CUSIP: 195325DZ5<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    1910000 | PA      | $1609093.42   | 1.17%             | 2032-04-22      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| ORLEN SA                                      | ORLEN SA                                                         | CUSIP: 000000000<br>LEI: 259400VVMM70CQREJT74 | Long             | DBT              | CORP              | PL        |     440000 | PA      | $462803.90    | 0.34%             | 2035-01-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GUATEMALA                         | Guatemala Government Bond                                        | CUSIP: 000000000<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |     298000 | PA      | $310884.25    | 0.23%             | 2031-08-06      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| BENIN INTL GOV BOND                           | Benin Government International Bond                              | CUSIP: 000000000<br>LEI: 635400Q11P6AE5A5Y230 | Long             | DBT              | NUSS              | BJ        |     295000 | PA      | $310582.33    | 0.23%             | 2041-01-23      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                             | CDS KINGDOM OF SAUDI ARABIA                                      | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-48914.25    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| PETROLEOS DE VENEZUELA S                      | Petroleos de Venezuela SA                                        | CUSIP: 000000000<br>LEI: 549300YWR8TN1OFD4P06 | Long             | DBT              | CORP              | VE        |     260000 | PA      | $261823.19    | 0.19%             | 2020-10-27      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                             | Lebanon Government International Bond                            | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |     269000 | PA      | $62485.29     | 0.05%             | 2027-11-29      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| COMISION EJ HI RIO LEMPA                      | Comision Ejecutiva Hidroelectrica del Rio Lempa                  | CUSIP: 000000000<br>LEI: 254900YU43PQQ27Q0E71 | Long             | DBT              | CORP              | SV        |     152000 | PA      | $163139.91    | 0.12%             | 2033-01-24      | Fixed         | 8.65%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF TURKIYE                           | Turkiye Government International Bond                            | CUSIP: 900123DP2<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |     506000 | PA      | $535745.82    | 0.39%             | 2032-02-12      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GUATEMALA                         | Guatemala Government Bond                                        | CUSIP: 000000000<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |     475000 | PA      | $509566.94    | 0.37%             | 2036-06-13      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                | USD/KRW FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-8956.71     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                | USD/EUR FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-22875.32    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT             | EURO-BUND                                                        | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |        -32 | NC      | $44420.26     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| REPUBLIC OF GHANA                             | Ghana Government International Bond                              | CUSIP: 000000000<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |     500000 | PA      | $491183.89    | 0.36%             | 2029-07-03      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF UZBEKISTAN                        | Republic of Uzbekistan International Bond                        | CUSIP: 000000000<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        |     430000 | PA      | $396726.81    | 0.29%             | 2031-10-19      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF POLAND                            | Republic of Poland Government International Bond                 | CUSIP: 857524AE2<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |     450000 | PA      | $481458.16    | 0.35%             | 2032-11-16      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| GALAXY PIPELINE ASSETS                        | Galaxy Pipeline Assets Bidco Ltd                                 | CUSIP: 000000000<br>LEI: 549300L82YB0C6JQIC26 | Long             | DBT              | CORP              | JE        |    1222462 | PA      | $1042274.38   | 0.76%             | 2040-09-30      | Fixed         | 2.94%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                | PEN/USD FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-45406.39    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| UKRAINE GOVERNMENT                            | Ukraine Government International Bond                            | CUSIP: 000000000<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |     568000 | PA      | $333512.64    | 0.24%             | 2036-02-01      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ECUADOR                           | Ecuador Government International Bond                            | CUSIP: 000000000<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |     176969 | PA      | $138272.09    | 0.10%             | 2040-07-31      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF VENEZUELA                         | Venezuela Government International Bond                          | CUSIP: 000000000<br>LEI: 529900XM8PJTJK5OJI77 | Long             | DBT              | NUSS              | VE        |    2339000 | PA      | $621095.90    | 0.45%             | 2020-12-09      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                       | Romanian Government International Bond                           | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     250000 | PA      | $300592.65    | 0.22%             | 2031-09-24      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| UNITED MEXICAN STATES                         | Mexico Government International Bond                             | CUSIP: 91087BBK5<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     842000 | PA      | $834161.48    | 0.61%             | 2033-03-22      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SENEGAL                           | Senegal Government International Bond                            | CUSIP: 000000000<br>LEI: 549300NP14ZLQGWIUZ97 | Long             | DBT              | NUSS              | SN        |     530000 | PA      | $306203.98    | 0.22%             | 2033-05-23      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PANAMA                            | Panama Government International Bond                             | CUSIP: 698299BV5<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |    1240000 | PA      | $1291388.44   | 0.94%             | 2054-03-28      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF TURKIYE                           | Turkiye Government International Bond                            | CUSIP: 900123DQ0<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    2040000 | PA      | $2168534.29   | 1.58%             | 2032-05-29      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SERBIA                            | Serbia International Bond                                        | CUSIP: 000000000<br>LEI: 254900W94OCY91V32O78 | Long             | DBT              | NUSS              | RS        |     400000 | PA      | $414052.35    | 0.30%             | 2028-05-26      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| OQ SAOC                                       | OQ SAOC                                                          | CUSIP: 000000000<br>LEI: 549300YK417GKI6EQ392 | Long             | DBT              | CORP              | OM        |     890000 | PA      | $896462.58    | 0.65%             | 2028-05-06      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                             | CDS REPUBLIC OF ARGENTINA                                        | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $4205.92      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF TURKIYE                           | Turkiye Government International Bond                            | CUSIP: 900123DR8<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    1045000 | PA      | $1075024.70   | 0.78%             | 2035-09-16      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF EL SALVADOR                       | El Salvador Government International Bond                        | CUSIP: 000000000<br>LEI: 529900AKDMUSFSDOM949 | Long             | DBT              | NUSS              | SV        |     790000 | PA      | $903559.86    | 0.66%             | 2054-11-21      | Fixed         | 9.65%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF COLOMBIA                          | Colombia Government International Bond                           | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |     526000 | PA      | $580679.89    | 0.42%             | 2036-02-19      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF IRAQ                              | Iraq International Bond                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | IQ        |     134375 | PA      | $133809.86    | 0.10%             | 2028-01-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                             | Lebanon Government International Bond                            | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |    1028000 | PA      | $238221.14    | 0.17%             | 2020-03-09      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| OMAN GOV INTERNTL BOND                        | Oman Government International Bond                               | CUSIP: 000000000<br>LEI: 549300SZ20F0QTKNQC75 | Long             | DBT              | NUSS              | OM        |    1465000 | PA      | $1612025.70   | 1.17%             | 2048-01-17      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PHILIPPINES                       | Philippine Government International Bond                         | CUSIP: 718286CH8<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |     835000 | PA      | $584445.82    | 0.43%             | 2045-05-05      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| UKRAINE GOVERNMENT                            | Ukraine Government International Bond                            | CUSIP: 000000000<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |     998000 | PA      | $475267.92    | 0.35%             | 2034-02-01      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF MONTENEGRO                        | Montenegro Government International Bond                         | CUSIP: 000000000<br>LEI: 747800V014106FYLL014 | Long             | DBT              | NUSS              | ME        |     570000 | PA      | $607835.83    | 0.44%             | 2031-03-12      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                           | Petroleos Mexicanos                                              | CUSIP: 71654QCC4<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    1375000 | PA      | $1125086.16   | 0.82%             | 2047-09-21      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                | USD/COP FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-44255.99    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF KAZAKHSTAN                        | Kazakhstan Government International Bond                         | CUSIP: 000000000<br>LEI: 5493007OEK8EF02UO833 | Long             | DBT              | NUSS              | KZ        |    1225000 | PA      | $1259205.70   | 0.92%             | 2037-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| DEVELOPMENT BANK OF KAZA                      | Development Bank of Kazakhstan JSC                               | CUSIP: 48129VAC0<br>LEI: 213800LCDPGJ1BI7KX98 | Long             | DBT              | NUSS              | KZ        |  102500000 | PA      | $192390.91    | 0.14%             | 2027-04-15      | Fixed         | 13.00%                | No            |                  2 | On Loan: No      |
| REPUBLIC OF CHILE                             | Chile Government International Bond                              | CUSIP: 168863DZ8<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |     320000 | PA      | $322520.89    | 0.24%             | 2036-01-05      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SERBIA                            | Serbia International Bond                                        | CUSIP: 000000000<br>LEI: 254900W94OCY91V32O78 | Long             | DBT              | NUSS              | RS        |     200000 | PA      | $214515.82    | 0.16%             | 2033-09-26      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GHANA                             | Ghana Government International Bond                              | CUSIP: 000000000<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |      50000 | PA      | $49076.67     | 0.04%             | 2026-07-03      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PARAGUAY                          | Paraguay Government International Bond                           | CUSIP: 000000000<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |     235000 | PA      | $249107.57    | 0.18%             | 2033-08-21      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| ECOPETROL SA                                  | Ecopetrol SA                                                     | CUSIP: 279158AS8<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |     565000 | PA      | $603491.42    | 0.44%             | 2033-01-13      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PARAGUAY                          | Paraguay Government International Bond                           | CUSIP: 000000000<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |     860000 | PA      | $804289.79    | 0.59%             | 2050-03-30      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF TURKIYE                           | Turkiye Government International Bond                            | CUSIP: 900123CB4<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    2320000 | PA      | $1784652.11   | 1.30%             | 2043-04-16      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                         | Sri Lanka Government International Bond                          | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |     240000 | PA      | $217489.37    | 0.16%             | 2036-05-15      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                | KRW/USD FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-2678.00     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF EL SALVADOR                       | El Salvador Government International Bond                        | CUSIP: 000000000<br>LEI: 529900AKDMUSFSDOM949 | Long             | DBT              | NUSS              | SV        |     824000 | PA      | $22608.43     | 0.02%             | 2030-04-17      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ARMENIA                           | Republic of Armenia International Bond                           | CUSIP: 000000000<br>LEI: 5299000H77JSW90G7935 | Long             | DBT              | NUSS              | AM        |    1130000 | PA      | $1174695.64   | 0.86%             | 2035-03-12      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                           | Petroleos Mexicanos                                              | CUSIP: 71654QDE9<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    1386000 | PA      | $1341122.70   | 0.98%             | 2031-01-28      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| UNITED MEXICAN STATES                         | Mexico Government International Bond                             | CUSIP: 91087BBP4<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     310000 | PA      | $362164.10    | 0.26%             | 2038-03-19      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF NIGERIA                           | Nigeria Government International Bond                            | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |     644000 | PA      | $671582.65    | 0.49%             | 2032-02-16      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GUATEMALA                         | Guatemala Government Bond                                        | CUSIP: 000000000<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |     308000 | PA      | $328832.10    | 0.24%             | 2055-08-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                             | Lebanon Government International Bond                            | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |     811000 | PA      | $187955.55    | 0.14%             | 2020-06-19      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| ARAB REPUBLIC OF EGYPT                        | Egypt Government International Bond                              | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |     502000 | PA      | $492996.21    | 0.36%             | 2047-01-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                      | Republic of South Africa Government International Bond           | CUSIP: 836205BH6<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    1275000 | PA      | $1256895.89   | 0.92%             | 2037-12-11      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| UZBEKNEFTEGAZ                                 | Uzbekneftegaz JSC                                                | CUSIP: 000000000<br>LEI: 213800LUZJZFLJD4MJ51 | Long             | DBT              | NUSS              | UZ        |     650000 | PA      | $625356.14    | 0.46%             | 2028-11-16      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                | USD/EUR FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $324.56       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF ECUADOR                           | Ecuador Government International Bond                            | CUSIP: 000000000<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |    3911871 | PA      | $3435174.44   | 2.50%             | 2035-07-31      | Variable      | 6.90%                 | No            |                  2 | On Loan: No      |
| ISTANBUL METROPOLITAN MU                      | Istanbul Metropolitan Municipality                               | CUSIP: 000000000<br>LEI: 213800T1VDQSNKA2MD76 | Long             | DBT              | NUSS              | TR        |     480000 | PA      | $526884.26    | 0.38%             | 2028-12-06      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| BANK GOSPODARSTWA KRAJOW                      | Bank Gospodarstwa Krajowego                                      | CUSIP: 000000000<br>LEI: 259400BCOV9JJIGLYF05 | Long             | DBT              | NUSS              | PL        |     600000 | PA      | $617792.09    | 0.45%             | 2033-05-22      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| GREENSAIF PIPELINES BIDC                      | Greensaif Pipelines Bidco Sarl                                   | CUSIP: 000000000<br>LEI: 549300YWDGUXPB8GRP47 | Long             | DBT              | CORP              | LU        |     400000 | PA      | $437080.78    | 0.32%             | 2042-02-23      | Fixed         | 6.51%                 | No            |                  2 | On Loan: No      |
| COSTA RICA GOVERNMENT                         | Costa Rica Government International Bond                         | CUSIP: 000000000<br>LEI: 549300S1EK2VN6XVJP58 | Long             | DBT              | NUSS              | CR        |     400000 | PA      | $436097.60    | 0.32%             | 2034-04-03      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| DEVELOPMENT BANK OF KAZA                      | Development Bank of Kazakhstan JSC                               | CUSIP: 25159XAF0<br>LEI: 213800LCDPGJ1BI7KX98 | Long             | DBT              | NUSS              | KZ        |  175000000 | PA      | $321935.34    | 0.23%             | 2028-05-23      | Fixed         | 13.49%                | No            |                  2 | On Loan: No      |
| AMERICA MOVIL SAB DE CV                       | America Movil SAB de CV                                          | CUSIP: 02364WBL8<br>LEI: 5493000FNR3UCEAONM59 | Long             | DBT              | CORP              | MX        |   12580000 | PA      | $708765.02    | 0.52%             | 2031-01-27      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SERBIA                            | Serbia International Bond                                        | CUSIP: 000000000<br>LEI: 254900W94OCY91V32O78 | Long             | DBT              | NUSS              | RS        |     250000 | PA      | $258142.32    | 0.19%             | 2034-06-12      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                      | Republic of South Africa Government International Bond           | CUSIP: 836205AV6<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |     915000 | PA      | $715911.37    | 0.52%             | 2046-10-12      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ADNOC MURBAN RSC LTD                          | Adnoc Murban Rsc Ltd                                             | CUSIP: 000000000<br>LEI: 213800OWGH7RAYG61M70 | Long             | DBT              | CORP              | AE        |     917000 | PA      | $861911.37    | 0.63%             | 2054-09-11      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                | USD/KZT FORWARD                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-44652.84    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| GREENSAIF PIPELINES BIDC                      | Greensaif Pipelines Bidco Sarl                                   | CUSIP: 000000000<br>LEI: 549300YWDGUXPB8GRP47 | Long             | DBT              | CORP              | LU        |     440000 | PA      | $468097.34    | 0.34%             | 2038-02-23      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                            | Dominican Republic International Bond                            | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |   63350000 | PA      | $1113689.43   | 0.81%             | 2035-09-15      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                      | Republic of South Africa Government International Bond           | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    1290000 | PA      | $1381394.09   | 1.01%             | 2036-11-19      | Fixed         | 7.10%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                       | Romanian Government International Bond                           | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     615000 | PA      | $718884.15    | 0.52%             | 2045-10-07      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                           | Petroleos Mexicanos                                              | CUSIP: 71654QDD1<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    2854000 | PA      | $2556730.72   | 1.86%             | 2050-01-23      | Fixed         | 7.69%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ZAMBIA                            | Zambia Government International Bond                             | CUSIP: 000000000<br>LEI: 213800DMLAZ6LGMMD849 | Long             | DBT              | NUSS              | ZM        |     374742 | PA      | $368651.97    | 0.27%             | 2033-06-30      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| PROVINCIA DE CORDOBA                          | Provincia de Cordoba                                             | CUSIP: 000000000<br>LEI: 5299006CLM2Z97AATT29 | Long             | DBT              | NUSS              | AR        |     384000 | PA      | $403486.92    | 0.29%             | 2032-07-02      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                         | Sri Lanka Government International Bond                          | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |     350000 | PA      | $265324.84    | 0.19%             | 2035-06-15      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| CREDICORP CAPITAL SOCIED                      | Credicorp Capital Sociedad Titulizadora SA                       | CUSIP: 224939AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | PE        |    1190000 | PA      | $382374.52    | 0.28%             | 2043-12-15      | Fixed         | 10.10%                | No            |                  2 | On Loan: No      |
| ECOPETROL SA                                  | Ecopetrol SA                                                     | CUSIP: 279158AP4<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |     765000 | PA      | $681803.96    | 0.50%             | 2031-11-02      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. INTERNATIONAL PLC        | CDS KINGDOM OF SAUDI ARABIA                                      | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-100402.93   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| FIEMEX ENERGIA - BANC AC                      | FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |     366488 | PA      | $384643.77    | 0.28%             | 2041-01-31      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| UKRAINE GOVERNMENT                            | Ukraine Government International Bond                            | CUSIP: 000000000<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |     234604 | PA      | $140122.84    | 0.10%             | 2035-02-01      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| CREDICORP CAPITAL SOCIED                      | Credicorp Capital Sociedad Titulizadora SA                       | CUSIP: 224939AB4<br>LEI: N/A                  | Long             | DBT              | CORP              | PE        |     500000 | PA      | $158663.69    | 0.12%             | 2045-03-05      | Fixed         | 9.70%                 | No            |                  2 | On Loan: No      |
| COMISION FEDERAL DE ELEC                      | Comision Federal de Electricidad                                 | CUSIP: 000000000<br>LEI: 4469000001BFPONMPF32 | Long             | DBT              | CORP              | MX        |     730000 | PA      | $721402.85    | 0.53%             | 2029-05-15      | Fixed         | 4.69%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF EL SALVADOR                       | El Salvador Government International Bond                        | CUSIP: 000000000<br>LEI: 529900AKDMUSFSDOM949 | Long             | DBT              | NUSS              | SV        |     510000 | PA      | $553461.30    | 0.40%             | 2030-04-17      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| EAGLE FUNDING LUXCO SARL                      | Eagle Funding Luxco Sarl                                         | CUSIP: 000000000<br>LEI: 894500VDP08MVIZ6OA60 | Long             | DBT              | NUSS              | LU        |    1809000 | PA      | $1842309.33   | 1.34%             | 2030-08-17      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ANGOLA                            | Angolan Government International Bond                            | CUSIP: 000000000<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |     296000 | PA      | $288440.92    | 0.21%             | 2032-04-14      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| NAVOI MINING METALLURGIC                      | Navoi Mining & Metallurgical Combinat                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | UZ        |     250000 | PA      | $258680.21    | 0.19%             | 2028-10-17      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| BULGARIA                                      | Bulgaria Government International Bond                           | CUSIP: 000000000<br>LEI: 529900PG0XCL4LICL838 | Long             | DBT              | NUSS              | BG        |     590000 | PA      | $586524.06    | 0.43%             | 2037-03-05      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AES PANAMA GENERATION HL                      | AES Panama Generation Holdings SRL                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | PA        |     676794 | PA      | $636498.74    | 0.46%             | 2030-05-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-24

**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.