# EDGAR Filing Document

**Accession Number:** 0000831114
**File Stem:** 0001145549-25-049544
**Filing Date:** 2025-7
**Character Count:** 44987
**Document Hash:** 54431bf59a667442be56d423cb60ff08
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-049544.hdr.sgml**: 20250729

**ACCESSION NUMBER**: 0001145549-25-049544

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250729

**DATE AS OF CHANGE**: 20250729

**PERIOD START**: 20250831

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05518
- **FILM NUMBER:** 251159386

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

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

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

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

## Series and Classes Contracts Data

### Oakhurst Short Duration Bond Fund (Series ID: S000080835)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000243400 | Institutional Shares | OHSDX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Oakhurst Short Duration Bond Fund** | **Oakhurst Short Duration Bond Fund** | **Oakhurst Short Duration Bond Fund** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **May 31, 2025 (Unaudited)** | **May 31, 2025 (Unaudited)** | **May 31, 2025 (Unaudited)** |
| **U.S. TREASURY SECURITIES - 21.4%** | **Par** | **Value** |
| United States Treasury Note/Bond | United States Treasury Note/Bond | United States Treasury Note/Bond |
| &nbsp;&nbsp; 4.63%, 06/30/2026 <sup>(a)</sup> | 272000 | $273360 |
| &nbsp;&nbsp; 4.50%, 07/15/2026 <sup>(a)</sup> | 475000 | 476985 |
| &nbsp;&nbsp; 3.75%, 08/31/2026 <sup>(a)</sup> | 330000 | 328646 |
| &nbsp;&nbsp; 4.13%, 10/31/2026 <sup>(a)</sup> | 150000 | 150167 |
| &nbsp;&nbsp; 4.25%, 11/30/2026 <sup>(a)</sup> | 395000 | 396312 |
| &nbsp;&nbsp; 3.75%, 08/15/2027 <sup>(a)</sup> | 614000 | 611925 |
| &nbsp;&nbsp; 3.38%, 09/15/2027 <sup>(a)</sup> | 465000 | 459760 |
| &nbsp;&nbsp; 3.75%, 05/15/2028 <sup>(a)</sup> | 175000 | 174378 |
| **TOTAL U.S. TREASURY SECURITIES** (Cost $2,874,034) | **TOTAL U.S. TREASURY SECURITIES** (Cost $2,874,034) | 2871533 |
| **EXCHANGE TRADED FUNDS - 20.3%** | **Shares** | **Value** |
| F/m 2-Year Investment Grade Corporate Bond ETF | 24500 | 1241293 |
| F/m 3-Year Investment Grade Corporate Bond ETF | 24423 | 1241914 |
| F/m Ultrashort Treasury Inflation-Protected Security TIPS ETF | 4800 | 240624 |
| **TOTAL EXCHANGE TRADED FUNDS** (Cost $2,716,841) | **TOTAL EXCHANGE TRADED FUNDS** (Cost $2,716,841) | 2723831 |
| **CORPORATE BONDS - 20.3%** | **Par** | **Value** |
| **Communications - 1.2%** | **Communications - 1.2%** | **Communications - 1.2%** |
|  AT&T, Inc., 6.55%, 01/15/2028 <sup>(a)</sup> | 150000 | 157395 |
| **Consumer Discretionary - 1.1%** | **Consumer Discretionary - 1.1%** | **Consumer Discretionary - 1.1%** |
|  AutoNation, Inc., 3.80%, 11/15/2027 <sup>(a)</sup> | 151000 | 147398 |
| **Financials - 10.6%** | **Financials - 10.6%** | **Financials - 10.6%** |
|  Air Lease Corp., 3.63%, 12/01/2027 <sup>(a)</sup> | 150000 | 147073 |
|  Ally Financial, Inc., 2.20%, 11/02/2028 <sup>(a)</sup> | 215000 | 196198 |
|  American Tower Corp., 5.50%, 03/15/2028 <sup>(a)</sup> | 146000 | 149246 |
|  Athene Holding Ltd., 4.13%, 01/12/2028 <sup>(a)</sup> | 150000 | 147434 |
|  Aviation Capital Group LLC, 6.25%, 04/15/2028 <sup>(a)(b)</sup> | 185000 | 191305 |
|  Bank of America Corp., 6.20% to 11/10/2027 then SOFR + 1.99%, 11/10/2028 <sup>(a)</sup> | 138000 | 142865 |
|  Citigroup, Inc., 4.13%, 07/25/2028 <sup>(a)</sup> | 149000 | 146762 |
|  Goldman Sachs Group, Inc., 3.85%, 01/26/2027 <sup>(a)</sup> | 151000 | 149687 |
|  JPMorgan Chase & Co., 4.51% to 10/22/2027 then SOFR + 0.86%, 10/22/2028 <sup>(a)</sup> | 149000 | 148680 |
|  |  | 1419250 |
| **Health Care - 3.1%** | **Health Care - 3.1%** | **Health Care - 3.1%** |
|  Amgen, Inc., 5.15%, 03/02/2028 <sup>(a)</sup> | 144000 | 146625 |
|  CVS Pass-Through Trust, 6.04%, 12/10/2028 <sup>(a)</sup> | 127539 | 128949 |
|  Elevance Health, Inc., 4.10%, 03/01/2028 <sup>(a)</sup> | 140000 | 138756 |
|  |  | 414330 |
| **Industrials - 1.4%** | **Industrials - 1.4%** | **Industrials - 1.4%** |
|  Ryder System, Inc., 6.30%, 12/01/2028 <sup>(a)</sup> | 185000 | 194071 |
| **Technology - 2.2%** | **Technology - 2.2%** | **Technology - 2.2%** |
|  Broadcom, Inc., 4.80%, 04/15/2028 <sup>(a)</sup> | 140000 | 141562 |
|  Hewlett Packard Enterprise Co., 4.40%, 09/25/2027 <sup>(a)</sup> | 148000 | 147787 |
|  |  | 289349 |
| **Utilities - 0.7%** | **Utilities - 0.7%** | **Utilities - 0.7%** |
|  Dominion Energy, Inc., 4.60%, 05/15/2028 <sup>(a)</sup> | 100000 | 100222 |
| **TOTAL CORPORATE BONDS** (Cost $2,705,868) | **TOTAL CORPORATE BONDS** (Cost $2,705,868) | 2722015 |
| **COLLATERALIZED MORTGAGE OBLIGATIONS - 17.7%** | **Par** | **Value** |
| Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. |
| &nbsp;&nbsp; Series 3664, Class DA, 4.00%, 11/15/2037 <sup>(a)</sup> | 185069 | 183561 |
| &nbsp;&nbsp; Series 4312, Class GA, 2.50%, 12/15/2041 <sup>(a)</sup> | 28283 | 27622 |
| &nbsp;&nbsp; Series 4768, Class E, 3.50%, 09/15/2042 <sup>(a)</sup> | 18663 | 18624 |
| &nbsp;&nbsp; Series 4938, Class BL, 2.25%, 07/25/2049 <sup>(a)</sup> | 364277 | 316287 |
| &nbsp;&nbsp; Series 4960, Class PD, 2.00%, 10/25/2049 <sup>(a)</sup> | 201831 | 167789 |
| Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association |
| &nbsp;&nbsp; Series 2005-80, Class BA, 5.00%, 04/25/2029 <sup>(a)</sup> | 64791 | 65970 |
| &nbsp;&nbsp; Series 2012-41, Class BA, 2.50%, 04/25/2027 <sup>(a)</sup> | 87110 | 85529 |
| &nbsp;&nbsp; Series 2013-82, Class BP, 2.75%, 12/25/2042 <sup>(a)</sup> | 256241 | 242338 |
| &nbsp;&nbsp; Series 2014-21, Class MA, 2.00%, 09/25/2041 <sup>(a)</sup> | 144124 | 138564 |
| &nbsp;&nbsp; Series 2016-72, Class AP, 3.00%, 07/25/2044 <sup>(a)</sup> | 63158 | 61334 |
| Government National Mortgage Association | Government National Mortgage Association | Government National Mortgage Association |
| &nbsp;&nbsp; Series 2018-131, Class PG, 3.00%, 09/20/2048 <sup>(a)</sup> | 79222 | 71748 |
| &nbsp;&nbsp; Series 2019-24, Class PE, 3.25%, 02/20/2049 <sup>(a)</sup> | 170453 | 158054 |
| &nbsp;&nbsp; Series 2019-65, Class EB, 3.00%, 05/20/2049 <sup>(a)</sup> | 134885 | 117959 |
|  GSR Mortgage Loan Trust, Series 2003-13, Class 1A1, 6.31%, 10/25/2033 <sup>(a)(c)</sup> | 67236 | 67327 |
|  Impac CMB Trust, Series 2005-4, Class 2A1, 5.04% (1 mo. Term SOFR + 0.41%), 05/25/2035 <sup>(a)</sup> | 102499 | 98028 |
|  Mastr Adjustable Rate Mortgages Trust, Series 2004-13, Class 2A1, 6.83%, 04/21/2034 <sup>(a)(c)</sup> | 68490 | 67479 |
|  Mastr Seasoned Securities Trust, Series 2005-1, Class 1A1, 5.89%, 09/25/2032 <sup>(a)(c)</sup> | 270582 | 274098 |
|  Structured Adjustable Rate Mortgage Loan Trust, Series 2004-12, Class 3A3, 5.33%, 09/25/2034 <sup>(a)(c)</sup> | 11110 | 10869 |
|  WaMu Mortgage Pass Through Certificates, Series 2002-AR2, Class A, 4.18% (Ent 11th COFI Repl + 1.25%), 02/27/2034 <sup>(a)</sup> | 10833 | 10429 |
|  Wells Fargo Mortgage Backed Securities Trust, Series 2004-K, Class 2A6, 7.30%, 07/25/2034 <sup>(a)(c)</sup> | 181935 | 185967 |
| **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS** (Cost $2,547,686) | **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS** (Cost $2,547,686) | 2369576 |
| **MORTGAGE-BACKED SECURITIES - 11.4%** | **Par** | **Value** |
| Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. | Federal Home Loan Mortgage Corp. |
| &nbsp;&nbsp; Pool J12630, 4.00%, 07/01/2025 <sup>(a)</sup> | 1029 | 1027 |
| &nbsp;&nbsp; Pool SB1117, 6.00%, 04/01/2039 <sup>(a)</sup> | 224260 | 230475 |
| &nbsp;&nbsp; Pool SB1215, 6.00%, 07/01/2039 <sup>(a)</sup> | 785955 | 805000 |
| Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association |
| &nbsp;&nbsp; Pool AL0300, 4.50%, 06/01/2026 <sup>(a)</sup> | 13556 | 13543 |
| &nbsp;&nbsp; Pool AL4309, 4.00%, 10/01/2028 <sup>(a)</sup> | 54874 | 54514 |
| &nbsp;&nbsp; Pool FS8581, 6.00%, 07/01/2039 <sup>(a)</sup> | 209327 | 214349 |
| &nbsp;&nbsp; Pool MA5202, 6.00%, 11/01/2038 <sup>(a)</sup> | 212071 | 217348 |
| **TOTAL MORTGAGE-BACKED SECURITIES** (Cost $1,530,865) | **TOTAL MORTGAGE-BACKED SECURITIES** (Cost $1,530,865) | 1536256 |
| **ASSET-BACKED SECURITIES - 8.8%** | **Par** | **Value** |
|  Accredited Mortgage Loan Trust, Series 2004-3, Class 2A2, 5.64% (1 mo. Term SOFR + 1.31%), 10/25/2034 <sup>(a)</sup> | 39065 | 38671 |
|  ACE Securities Corp., Series 2003-NC1, Class A2A, 5.28% (1 mo. Term SOFR + 0.95%), 07/25/2033 <sup>(a)</sup> | 234621 | 219036 |
|  Argent Securities, Inc. Asset-Backed Pass-Through Certificates, Series 2004-W10, Class A2, 3.49% (1 mo. Term SOFR + 0.89%), 10/25/2034 <sup>(a)</sup> | 209847 | 200796 |
| Carvana Auto Receivables Trust | Carvana Auto Receivables Trust | Carvana Auto Receivables Trust |
| &nbsp;&nbsp; Series 2021-N1, Class B, 1.09%, 01/10/2028 <sup>(a)</sup> | 114430 | 111518 |
| &nbsp;&nbsp; Series 2021-P2, Class A4, 0.80%, 01/10/2027 <sup>(a)</sup> | 102684 | 101727 |
|  Countrywide Asset-Backed Certificates, Series 2004-6, Class 2A3, 5.64% (1 mo. Term SOFR + 1.31%), 11/25/2034 <sup>(a)</sup> | 152019 | 150584 |
|  OneMain Holdings, Inc., Series 2006-1, Class A5, 5.75%, 12/25/2035 <sup>(a)(b)(c)</sup> | 891 | 976 |
|  Soundview Home Equity Loan Trust, Series 2003-2, Class A2, 5.74% (1 mo. Term SOFR + 1.41%), 11/25/2033 <sup>(a)</sup> | 56533 | 61104 |
|  Verizon Master Trust, Series 2024-6, Class A1A, 4.17%, 08/20/2030 <sup>(a)</sup> | 150000 | 149223 |
|  World Omni Select Auto Trust, Series 2021-A, Class C, 1.09%, 11/15/2027 <sup>(a)</sup> | 151460 | 149973 |
| **TOTAL ASSET-BACKED SECURITIES** (Cost $1,196,708) | **TOTAL ASSET-BACKED SECURITIES** (Cost $1,196,708) | 1183608 |
| **SHORT-TERM INVESTMENTS - 0.1%** |  | **Value**  |
| **Money Market Funds - 0.1%** | **<u>Shares</u>** |  |
| Invesco Treasury Portfolio - Class Institutional, 4.23% <sup>(d)</sup> | 10136 | 10136 |
| **TOTAL SHORT-TERM INVESTMENTS** (Cost $10,136) | **TOTAL SHORT-TERM INVESTMENTS** (Cost $10,136) | 10136 |
| **TOTAL INVESTMENTS - 100.0% (**Cost $13,582,138**)** | **TOTAL INVESTMENTS - 100.0% (**Cost $13,582,138**)** | 13416955 |
| Other Assets in Excess of Liabilities - 0.0% <sup>(e)</sup> | Other Assets in Excess of Liabilities - 0.0% <sup>(e)</sup> | 5295 |
| **TOTAL NET ASSETS - 100.0%** |  | $13422250 |
| two | two | –% |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | –% |

---

Ent 11th COFI Repl - Enterprise 11th District COFI Replacement Index <br> LLC - Limited Liability Company <br> SOFR - Secured Overnight Financing Rate

(a) Non-income producing security.

(b) Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified
 institutional investors. As of May 31, 2025, the value of these securities total $192,281 or 1.4% of the Fund's net assets.

(c) Coupon rate is variable based on the weighted average coupon of the underlying collateral. To the extent the weighted average coupon of the underlying assets which comprise the collateral
 increases or decreases, the coupon rate of this security will increase or decrease correspondingly. The rate disclosed is as of May 31, 2025.

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

(e) Represents less than 0.05% of net assets.

------

#### <br>

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

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

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Securities | $– | $2871533 | $– | $2871533 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Exchange Traded Funds | 2723831 | – | – | 2723831 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Corporate Bonds | – | 2722015 | – | 2722015 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Collateralized Mortgage Obligations | – | 2369576 | – | 2369576 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Mortgage-Backed Securities | – | 1536256 | – | 1536256 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Asset-Backed Securities | – | 1183608 | – | 1183608 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 10136 | – | – | 10136 |
| Total Investments | $2733967 | $10682988 | $– | $13416955 |
| Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53202

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

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

- **a. Name of Series:** Oakhurst Short Duration Bond Fund

- **b. EDGAR series identifier (if any):** S000080835

- **c. LEI of Series:** 549300606DWTYXHUL121

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $13530269.62

**Total Liabilities:** $115482.50

**Net Assets:** $13414787.12

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 287.267023000000 | **1-Year:** 804.579686000000 | **5-Year:** 501.537197000000 | **10-Year:** 674.202176000000 | **30-Year:** 292.579859000000

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

- **3-Month:** 204.667480000000 | **1-Year:** 0.000000000000 | **5-Year:** 0.000000000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000243400 | 0.42%                | 0.48%                | 0.14%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $763.49                  | $12172.51                                  |
| Month 2  | $-3921.59                | $21197.80                                  |
| Month 3  | $-15568.44               | $-1368.35                                  |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                           | Title                                                                        | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AT&T INC                       | AT&T Inc                                                                     | CUSIP: 00206RGN6<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    150000 | PA      | $157395.07    | 1.17%             | 2028-01-15      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| Accredited Mortgage Loan Trust | Accredited Mortgage Loan Trust 2004-3                                        | CUSIP: 004375BL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     39065 | PA      | $38671.32     | 0.29%             | 2034-10-25      | Floating      | 5.64%                 | No            |                  2 | On Loan: No      |
| Ace Securities Corp.           | ACE Securities Corp Home Equity Loan Trust Series 2003-NC1                   | CUSIP: 004421CP6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    234621 | PA      | $219036.08    | 1.63%             | 2033-07-25      | Floating      | 5.28%                 | No            |                  2 | On Loan: No      |
| AIR LEASE CORP                 | Air Lease Corp                                                               | CUSIP: 00912XAY0<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |    150000 | PA      | $147072.56    | 1.10%             | 2027-12-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC             | Ally Financial Inc                                                           | CUSIP: 02005NBP4<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    215000 | PA      | $196198.08    | 1.46%             | 2028-11-02      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| AMERICAN GENERAL MORTGAGE LOAN | American General Mortgage Loan Trust 2006-1                                  | CUSIP: 02639MAL0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       891 | PA      | $975.48       | 0.01%             | 2035-12-25      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP            | American Tower Corp                                                          | CUSIP: 03027XBY5<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |    146000 | PA      | $149245.55    | 1.11%             | 2028-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                      | Amgen Inc                                                                    | CUSIP: 031162DP2<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    144000 | PA      | $146625.30    | 1.09%             | 2028-03-02      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Argent Securities Inc.         | Argent Securities Inc Asset-Backed Pass-Through Certificates Series 2004-W10 | CUSIP: 040104LM1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    209847 | PA      | $200796.23    | 1.50%             | 2034-10-25      | Floating      | 5.22%                 | No            |                  2 | On Loan: No      |
| GSR Mortgage Loan Trust        | GSR Mortgage Loan Trust 2003-13                                              | CUSIP: 36228FYY6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     67236 | PA      | $67326.69     | 0.50%             | 2033-10-25      | Variable      | 6.31%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A | Government National Mortgage Association                                     | CUSIP: 38380YB38<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     79222 | PA      | $71748.45     | 0.53%             | 2048-09-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A | Government National Mortgage Association                                     | CUSIP: 38381B8H0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    170453 | PA      | $158054.29    | 1.18%             | 2049-02-20      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A | Government National Mortgage Association                                     | CUSIP: 38381VKB5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    134885 | PA      | $117958.76    | 0.88%             | 2049-05-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| HP ENTERPRISE CO               | Hewlett Packard Enterprise Co                                                | CUSIP: 42824CBS7<br>LEI: 549300BX44RGX6ANDV88 | Long             | DBT              | CORP              | US        |    148000 | PA      | $147787.43    | 1.10%             | 2027-09-25      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Impac CMB Trust                | Impac CMB Trust Series 2005-4                                                | CUSIP: 45254NPE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    102499 | PA      | $98028.44     | 0.73%             | 2035-05-25      | Floating      | 5.04%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO            | JPMorgan Chase & Co                                                          | CUSIP: 46647PEP7<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    149000 | PA      | $148679.96    | 1.11%             | 2028-10-22      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| MASTR Seasoned Securitization  | MASTR Seasoned Securitization Trust 2005-1                                   | CUSIP: 55265WCF8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    270582 | PA      | $274098.50    | 2.04%             | 2032-09-25      | Variable      | 5.89%                 | No            |                  2 | On Loan: No      |
| MASTR Adjustable Rate Mortgage | MASTR Adjustable Rate Mortgages Trust 2004-13                                | CUSIP: 576433UE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     68490 | PA      | $67479.22     | 0.50%             | 2034-04-21      | Variable      | 6.83%                 | No            |                  2 | On Loan: No      |
| RYDER SYSTEM INC               | Ryder System Inc                                                             | CUSIP: 78355HKX6<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | DBT              | CORP              | US        |    185000 | PA      | $194071.10    | 1.45%             | 2028-12-01      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| Invesco Treasury Portfolio     | Invesco Treasury Portfolio                                                   | CUSIP: 825252406<br>LEI: 5493004B3TM8ZIDDDC39 | Long             | STIV             | RF                | US        |     10137 | NS      | $10137.16     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Soundview Home Equity Loan Tru | Soundview Home Loan Trust 2003-2                                             | CUSIP: 83611MAQ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     56533 | PA      | $61104.07     | 0.46%             | 2033-11-25      | Floating      | 5.74%                 | No            |                  2 | On Loan: No      |
| Structured Adjustable Rate Mor | Structured Adjustable Rate Mortgage Loan Trust                               | CUSIP: 863579BQ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     11110 | PA      | $10868.83     | 0.08%             | 2034-09-25      | Variable      | 5.33%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                                             | CUSIP: 91282CHM6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    475000 | PA      | $476985.35    | 3.56%             | 2026-07-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                                             | CUSIP: 91282CKY6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    272000 | PA      | $273360.00    | 2.04%             | 2026-06-30      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| ELEVANCE HEALTH INC            | Elevance Health Inc                                                          | CUSIP: 036752AG8<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |    140000 | PA      | $138755.42    | 1.03%             | 2028-03-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Gold Pool                                                        | CUSIP: 3128PR4P1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      1029 | PA      | $1027.12      | 0.01%             | 2025-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                                             | CUSIP: 3132CXG22<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    224260 | PA      | $230474.82    | 1.72%             | 2039-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac Pool                                                             | CUSIP: 3132CXK43<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    785955 | PA      | $804999.62    | 6.00%             | 2039-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae REMICS                                                            | CUSIP: 3136A4Q77<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     87110 | PA      | $85528.69     | 0.64%             | 2027-04-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae REMICS                                                            | CUSIP: 3136AFXC3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    256241 | PA      | $242337.75    | 1.81%             | 2042-12-25      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae REMICS                                                            | CUSIP: 3136AJNH5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    144124 | PA      | $138563.96    | 1.03%             | 2041-09-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae REMICS                                                            | CUSIP: 3136ATH98<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     63158 | PA      | $61334.56     | 0.46%             | 2044-07-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac REMICS                                                           | CUSIP: 3137B7PR4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     28283 | PA      | $27621.64     | 0.21%             | 2041-12-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac REMICS                                                           | CUSIP: 3137F3CM4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     18663 | PA      | $18623.58     | 0.14%             | 2042-09-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac REMICS                                                           | CUSIP: 3137FQEQ2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    364277 | PA      | $316286.86    | 2.36%             | 2049-07-25      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                                              | CUSIP: 3138EGKN3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     13556 | PA      | $13542.83     | 0.10%             | 2026-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                                              | CUSIP: 3138ELYF4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     54874 | PA      | $54514.35     | 0.41%             | 2028-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae REMICS                                                            | CUSIP: 31394FQK4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     64791 | PA      | $65969.90     | 0.49%             | 2029-04-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                                              | CUSIP: 3140XQRB5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    209327 | PA      | $214349.02    | 1.60%             | 2039-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                     | Fannie Mae Pool                                                              | CUSIP: 31418EX88<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    212071 | PA      | $217347.85    | 1.62%             | 2038-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| F/m Ultrashort Treasury Inflat | F/m Ultrashort Treasury Inflation-Protected Security TIPS ETF                | CUSIP: 74933W213<br>LEI: 5299000J5VH6XTHXW407 | Long             | EC               | RF                | US        |      4800 | NS      | $240624.00    | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| F/m 3-Year Investment Grade Co | F/m 3-Year Investment Grade Corporate Bond ETF                               | CUSIP: 74933W395<br>LEI: 5299006YR4R79V4XHA43 | Long             | EC               | RF                | US        |     24423 | NS      | $1241914.43   | 9.26%             |  |  |  | No            |                  1 | On Loan: No      |
| F/m 2-Year Investment Grade Co | F/m 2-Year Investment Grade Corporate Bond ETF                               | CUSIP: 74933W429<br>LEI: 5299007TEZVM45VVOU81 | Long             | EC               | RF                | US        |     24500 | NS      | $1241292.50   | 9.25%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                                             | CUSIP: 91282CLG4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    614000 | PA      | $611925.35    | 4.56%             | 2027-08-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                                             | CUSIP: 91282CLH2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    330000 | PA      | $328646.49    | 2.45%             | 2026-08-31      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                                             | CUSIP: 91282CLL3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    465000 | PA      | $459759.67    | 3.43%             | 2027-09-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                                             | CUSIP: 91282CLS8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    150000 | PA      | $150166.99    | 1.12%             | 2026-10-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                                             | CUSIP: 91282CLY5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    395000 | PA      | $396311.52    | 2.95%             | 2026-11-30      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                                             | CUSIP: 91282CND9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    175000 | PA      | $174377.93    | 1.30%             | 2028-05-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Verizon Master Trust           | Verizon Master Trust                                                         | CUSIP: 92348KDE0<br>LEI: 5493007MUBNP1GFMEB89 | Long             | ABS-O            | CORP              | US        |    150000 | PA      | $149223.00    | 1.11%             | 2030-08-20      | Fixed         | 4.17%                 | No            |                  2 | On Loan: No      |
| WAMU Mortgage Pass-Through Cer | WaMu Mortgage Pass-Through Certificates Series 2002-AR2 Trust                | CUSIP: 929227LE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     10833 | PA      | $10429.03     | 0.08%             | 2034-02-27      | Floating      | 4.18%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Mortgage Backed Se | Wells Fargo Mortgage Backed Securities 2004-K Trust                          | CUSIP: 94981VAL1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    181935 | PA      | $185966.64    | 1.39%             | 2034-07-25      | Variable      | 7.30%                 | No            |                  2 | On Loan: No      |
| World OMNI Select Auto Trust   | World Omni Select Auto Trust 2021-A                                          | CUSIP: 98163HAE9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    151460 | PA      | $149973.03    | 1.12%             | 2027-11-15      | Fixed         | 1.09%                 | No            |                  2 | On Loan: No      |
| ATHENE HOLDING LTD             | Athene Holding Ltd                                                           | CUSIP: 04686JAA9<br>LEI: 549300H316CT32FQXI76 | Long             | DBT              | CORP              | US        |    150000 | PA      | $147434.35    | 1.10%             | 2028-01-12      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| AUTONATION INC                 | AutoNation Inc                                                               | CUSIP: 05329WAP7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    151000 | PA      | $147398.05    | 1.10%             | 2027-11-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| AVIATION CAPITAL GROUP         | Aviation Capital Group LLC                                                   | CUSIP: 05369AAN1<br>LEI: 549300ODEK8HY3445C77 | Long             | DBT              | CORP              | US        |    185000 | PA      | $191304.82    | 1.43%             | 2028-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP           | Bank of America Corp                                                         | CUSIP: 06051GLC1<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    138000 | PA      | $142865.03    | 1.06%             | 2028-11-10      | Variable      | 6.20%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                   | Broadcom Inc                                                                 | CUSIP: 11135FCE9<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    140000 | PA      | $141562.09    | 1.06%             | 2028-04-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| CVS PASS-THROUGH TRUST         | CVS Pass-Through Trust                                                       | CUSIP: 126650BP4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    127539 | PA      | $128948.89    | 0.96%             | 2028-12-10      | Fixed         | 6.04%                 | No            |                  2 | On Loan: No      |
| Countrywide Asset-Backed Certi | CWABS Inc Asset-Backed Certificates Trust 2004-6                             | CUSIP: 126673BA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    152019 | PA      | $150583.55    | 1.12%             | 2034-11-25      | Floating      | 5.64%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust | Carvana Auto Receivables Trust 2021-N1                                       | CUSIP: 14687DAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    114430 | PA      | $111518.13    | 0.83%             | 2028-01-10      | Fixed         | 1.09%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust | Carvana Auto Receivables Trust 2021-P2                                       | CUSIP: 14687TAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    102684 | PA      | $101727.44    | 0.76%             | 2027-01-10      | Fixed         | 0.80%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                  | Citigroup Inc                                                                | CUSIP: 172967KU4<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    149000 | PA      | $146762.48    | 1.09%             | 2028-07-25      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| DOMINION ENERGY INC            | Dominion Energy Inc                                                          | CUSIP: 25746UDY2<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100221.72    | 0.75%             | 2028-05-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac REMICS                                                           | CUSIP: 3137FRHP9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    201831 | PA      | $167788.97    | 1.25%             | 2049-10-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                    | Freddie Mac REMICS                                                           | CUSIP: 31398Q4F1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    185069 | PA      | $183561.52    | 1.37%             | 2037-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC        | Goldman Sachs Group Inc/The                                                  | CUSIP: 38141GWB6<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    151000 | PA      | $149686.80    | 1.12%             | 2027-01-26      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |

### Signature

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

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

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

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

**Title:** CFO COO Secretary