# EDGAR Filing Document

**Accession Number:** 0001272950
**File Stem:** 0001752724-25-202249
**Filing Date:** 2025-8
**Character Count:** 174512
**Document Hash:** 64c598f2e89c94374b703cbc323ddd37
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-202249.hdr.sgml**: 20250825

**ACCESSION NUMBER**: 0001752724-25-202249

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250825

**DATE AS OF CHANGE**: 20250825

**PERIOD START**: 20250930

**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:** 251250340

**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 Core Plus Bond Fund (Series ID: S000074159)

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

## Nport-Ex

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Core Plus Bond Fund

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| **Corporate Bonds — 54.0%** | **Corporate Bonds — 54.0%** |  |
| **Australia — 0.1%** | **Australia — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;$99000 | Santos Finance Ltd., 3.65%, 4/29/31(a) | &nbsp;&nbsp;&nbsp;&nbsp;$92145 |
| **Bermuda — 0.9%** | **Bermuda — 0.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;319000 | Aspen Insurance Holdings Ltd., 5.75%, 7/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;324304 |
| &nbsp;&nbsp;&nbsp;&nbsp;230000 | DaVinciRe Holdings Ltd., 5.95%, 4/15/35(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228809 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;553113 |
| **Brazil — 1.2%** | **Brazil — 1.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;201000 | Nexa Resources SA, 6.60%, 4/8/37(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202191 |
| &nbsp;&nbsp;&nbsp;&nbsp;290000 | Raizen Fuels Finance SA, 6.70%, 2/25/37(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;284238 |
| &nbsp;&nbsp;&nbsp;&nbsp;285000 | Sitios Latinoamerica SAB de CV, 6.00%, 11/25/29(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290623 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;777052 |
| **Canada — 2.0%** | **Canada — 2.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;221000 | AltaGas Ltd., 7.20%, 10/15/54(b),(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220777 |
| &nbsp;&nbsp;&nbsp;&nbsp;330000 | Capital Power US Holdings, Inc., 6.19%, 6/1/35(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340485 |
| &nbsp;&nbsp;&nbsp;&nbsp;330000 | CI Financial Corp., 7.50%, 5/30/29(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348355 |
| &nbsp;&nbsp;&nbsp;&nbsp;170000 | South Bow USA Infrastructure Holdings LLC, 5.58%, 10/1/34(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168135 |
| &nbsp;&nbsp;&nbsp;&nbsp;205000 | South Bow USA Infrastructure Holdings LLC, 6.18%, 10/1/54(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194850 |
|  |  | &nbsp;&nbsp;&nbsp;1272602 |
| **Chile — 0.3%** | **Chile — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;210000 | Corp. Nacional del Cobre de Chile, 6.44%, 1/26/36(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219502 |
| **France — 2.0%** | **France — 2.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;500000 | BPCE SA, 6.29%, 1/14/36(b),(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;524917 |
| &nbsp;&nbsp;&nbsp;&nbsp;319000 | Societe Generale SA, 1.49%, 12/14/26(b),(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;314354 |
| &nbsp;&nbsp;&nbsp;&nbsp;230000 | Societe Generale SA, Series REGs, 5.38%, (a),(c),(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209734 |
| &nbsp;&nbsp;&nbsp;&nbsp;210000 | Societe Generale SA, 8.13%, (b),(c),(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213557 |
|  |  | &nbsp;&nbsp;&nbsp;1262562 |
| **Germany — 1.9%** | **Germany — 1.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;210000 | Bayer US Finance LLC, 6.38%, 11/21/30(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223748 |
| &nbsp;&nbsp;200,000(e) | Commerzbank AG, EMTN, 7.88%, (a),(c),(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261711 |
| &nbsp;&nbsp;&nbsp;&nbsp;313000 | Deutsche Bank AG, 5.30%, 5/9/31(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317904 |
| &nbsp;&nbsp;200,000(e) | Deutsche Bank AG, 6.75%, (a),(c),(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242889 |
| &nbsp;&nbsp;&nbsp;&nbsp;200000 | Deutsche Bank AG, 8.13%, (a),(c),(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206382 |
|  |  | &nbsp;&nbsp;&nbsp;1252634 |
| **Ireland — 0.3%** | **Ireland — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;163000 | Avolon Holdings Funding Ltd., 3.25%, 2/15/27(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158905 |
| **Italy — 1.3%** | **Italy — 1.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;384000 | Intesa Sanpaolo SpA, 5.71%, 1/15/26(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;384613 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Core Plus Bond Fund (cont.)

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| &nbsp;&nbsp;200,000(e) | Intesa Sanpaolo SpA, 7.00%, (a),(c),(d) | &nbsp;&nbsp;&nbsp;$252421 |
| &nbsp;&nbsp;&nbsp;&nbsp;$200000 | Snam SpA, 6.50%, 5/28/55(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207462 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;844496 |
| **Japan — 3.3%** | **Japan — 3.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;336000 | Nissan Motor Co. Ltd., 4.81%, 9/17/30(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306511 |
| &nbsp;&nbsp;&nbsp;1798000 | Sumitomo Mitsui Financial Group, Inc., 5.80%, 7/8/46(c) | &nbsp;&nbsp;&nbsp;1798000 |
|  |  | &nbsp;&nbsp;&nbsp;2104511 |
| **Norway — 0.4%** | **Norway — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;246000 | Var Energi ASA, 6.50%, 5/22/35(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255000 |
| **Spain — 0.3%** | **Spain — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;200000 | Banco Santander SA, (SOFR RATE + 1.380%), 5.78%, 3/14/28(f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201234 |
| **United Kingdom — 3.1%** | **United Kingdom — 3.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;400000 | Barclays Plc, 5.79%, 2/25/36(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;408848 |
| &nbsp;&nbsp;&nbsp;&nbsp;369000 | Fidelis Insurance Holdings Ltd., 7.75%, 6/15/55(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380620 |
| &nbsp;&nbsp;&nbsp;&nbsp;180000 | Harbour Energy Plc, 6.33%, 4/1/35(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179232 |
| &nbsp;&nbsp;&nbsp;&nbsp;430000 | Macquarie Airfinance Holdings Ltd., 5.20%, 3/27/28(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;434793 |
| &nbsp;&nbsp;&nbsp;&nbsp;201000 | Phoenix Group Holdings Plc, 8.50%, (a),(c),(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209755 |
| &nbsp;&nbsp;&nbsp;&nbsp;200000 | Standard Chartered Plc, 6.23%, 1/21/36(b),(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211806 |
| &nbsp;&nbsp;&nbsp;&nbsp;210000 | Vodafone Group Plc, 5.75%, 6/28/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201390 |
|  |  | &nbsp;&nbsp;&nbsp;2026444 |
| **United States — 36.9%** | **United States — 36.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;173000 | Aircastle Ltd., 2.85%, 1/26/28(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164727 |
| &nbsp;&nbsp;&nbsp;&nbsp;240000 | Ally Financial, Inc., Series B, 4.70%, (c),(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231389 |
| &nbsp;&nbsp;&nbsp;&nbsp;350000 | Ally Financial, Inc., Series C, 4.70%, (c),(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;314277 |
| &nbsp;&nbsp;&nbsp;&nbsp;289000 | American National Group, Inc., 5.75%, 10/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;296023 |
| &nbsp;&nbsp;&nbsp;&nbsp;330000 | American National Group, Inc., 6.00%, 7/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;331436 |
| &nbsp;&nbsp;&nbsp;&nbsp;184000 | APA Corp., 6.10%, 2/15/35(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180063 |
| &nbsp;&nbsp;&nbsp;&nbsp;262000 | APA Corp., 6.75%, 2/15/55(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247964 |
| &nbsp;&nbsp;&nbsp;&nbsp;181000 | Athene Holding Ltd., 6.63%, 5/19/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186050 |
| &nbsp;&nbsp;&nbsp;&nbsp;470000 | Atlas Warehouse Lending Co. LP, 6.05%, 1/15/28(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476075 |
| &nbsp;&nbsp;&nbsp;&nbsp;154000 | Bank of America Corp., 5.74%, 2/12/36(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156439 |
| &nbsp;&nbsp;&nbsp;&nbsp;334000 | Belrose Funding Trust II, 6.79%, 5/15/55(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341092 |
| &nbsp;&nbsp;&nbsp;&nbsp;250000 | BGC Group, Inc., 6.15%, 4/2/30(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253574 |
| &nbsp;&nbsp;&nbsp;&nbsp;260000 | BGC Group, Inc., 6.60%, 6/10/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269430 |
| &nbsp;&nbsp;&nbsp;&nbsp;274000 | BGC Group, Inc., 8.00%, 5/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;293059 |
| &nbsp;&nbsp;&nbsp;&nbsp;176000 | Biogen, Inc., 5.75%, 5/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180936 |
| &nbsp;&nbsp;&nbsp;&nbsp;210000 | Broadcom, Inc., 4.93%, 5/15/37(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203689 |
| &nbsp;&nbsp;&nbsp;&nbsp;410000 | BW Real Estate, Inc., 9.50%, (b),(c),(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;418999 |
| &nbsp;&nbsp;&nbsp;&nbsp;142000 | Capital One Financial Corp., 7.96%, 11/2/34(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165049 |
| &nbsp;&nbsp;&nbsp;&nbsp;388000 | CBRE Services, Inc., 5.50%, 6/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390693 |
| &nbsp;&nbsp;&nbsp;&nbsp;223000 | Charter Communications Operating LLC / Charter Communications Operating Capital, 3.85%, 4/1/61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142843 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Core Plus Bond Fund (cont.)

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;$211000 | Charter Communications Operating LLC / Charter Communications Operating Capital, 4.80%, 3/1/50 | $168984 |
| &nbsp;&nbsp;&nbsp;&nbsp;346000 | Charter Communications Operating LLC / Charter Communications Operating Capital, 5.38%, 4/1/38 | &nbsp;&nbsp;&nbsp;326024 |
| &nbsp;&nbsp;&nbsp;&nbsp;190000 | Charter Communications Operating LLC / Charter Communications Operating Capital, 5.75%, 4/1/48 | &nbsp;&nbsp;&nbsp;172889 |
| &nbsp;&nbsp;&nbsp;&nbsp;170000 | Citadel LP, 6.00%, 1/23/30(b) | &nbsp;&nbsp;&nbsp;175747 |
| &nbsp;&nbsp;360,000(e) | Citigroup, Inc., 4.11%, 4/29/36(c) | &nbsp;&nbsp;&nbsp;433364 |
| &nbsp;&nbsp;&nbsp;&nbsp;415000 | Citigroup, Inc., 5.33%, 3/27/36(c) | &nbsp;&nbsp;&nbsp;418207 |
| &nbsp;&nbsp;&nbsp;&nbsp;203000 | Citizens Financial Group, Inc., Series F, 5.65%, (c),(d) | &nbsp;&nbsp;&nbsp;202885 |
| &nbsp;&nbsp;&nbsp;&nbsp;450000 | Citizens Financial Group, Inc., 5.72%, 7/23/32(c) | &nbsp;&nbsp;&nbsp;465978 |
| &nbsp;&nbsp;&nbsp;&nbsp;160000 | CNO Financial Group, Inc., 6.45%, 6/15/34 | &nbsp;&nbsp;&nbsp;167971 |
| &nbsp;&nbsp;&nbsp;&nbsp;284000 | Dentsply Sirona, Inc., 8.38%, 9/12/55(c) | &nbsp;&nbsp;&nbsp;285501 |
| &nbsp;&nbsp;&nbsp;&nbsp;600000 | Edison International, Series A, 5.38%, (c),(d) | &nbsp;&nbsp;&nbsp;564288 |
| &nbsp;&nbsp;&nbsp;&nbsp;262000 | Energy Transfer LP, (Term SOFR 3M + 3.279%), 7.56%, 11/1/66(f) | &nbsp;&nbsp;&nbsp;260574 |
| &nbsp;&nbsp;&nbsp;&nbsp;198000 | Enterprise Products Operating LLC, Series D, (Term SOFR 3M + 3.248%), 7.57%, 8/16/77(g) | &nbsp;&nbsp;&nbsp;197862 |
| &nbsp;&nbsp;&nbsp;&nbsp;295000 | Essent Group Ltd., 6.25%, 7/1/29 | &nbsp;&nbsp;&nbsp;305514 |
| &nbsp;&nbsp;&nbsp;&nbsp;304000 | F&G Annuities & Life, Inc., 6.25%, 10/4/34 | &nbsp;&nbsp;&nbsp;301964 |
| &nbsp;&nbsp;&nbsp;&nbsp;209000 | F&G Annuities & Life, Inc., 7.40%, 1/13/28 | &nbsp;&nbsp;&nbsp;219222 |
| &nbsp;&nbsp;&nbsp;&nbsp;210000 | Fifth Third Bancorp, 4.34%, 4/25/33(c) | &nbsp;&nbsp;&nbsp;200590 |
| &nbsp;&nbsp;&nbsp;&nbsp;178000 | Fifth Third Bancorp, 5.63%, 1/29/32(c) | &nbsp;&nbsp;&nbsp;185241 |
| &nbsp;&nbsp;&nbsp;&nbsp;223000 | Fifth Third Bancorp, Series H, (Term SOFR 3M + 3.295%), 7.59%, (d),(g) | &nbsp;&nbsp;&nbsp;224765 |
| &nbsp;&nbsp;&nbsp;&nbsp;170000 | First American Financial Corp., 5.45%, 9/30/34 | &nbsp;&nbsp;&nbsp;167036 |
| &nbsp;&nbsp;&nbsp;&nbsp;380000 | First Citizens BancShares, Inc., 6.25%, 3/12/40(c) | &nbsp;&nbsp;&nbsp;379238 |
| &nbsp;&nbsp;&nbsp;&nbsp;320000 | FMC Corp., 8.45%, 11/1/55(c) | &nbsp;&nbsp;&nbsp;328251 |
| &nbsp;&nbsp;&nbsp;&nbsp;310000 | Ford Motor Credit Co. LLC, (SOFR RATE + 2.030%), 6.44%, 3/20/28(f) | &nbsp;&nbsp;&nbsp;305699 |
| &nbsp;&nbsp;&nbsp;&nbsp;230000 | Fortitude Group Holdings LLC, 6.25%, 4/1/30(b) | &nbsp;&nbsp;&nbsp;236752 |
| &nbsp;&nbsp;&nbsp;&nbsp;200000 | Foundry JV Holdco LLC, 5.88%, 1/25/34(b) | &nbsp;&nbsp;&nbsp;203158 |
| &nbsp;&nbsp;&nbsp;&nbsp;257000 | Foundry JV Holdco LLC, 6.20%, 1/25/37(b) | &nbsp;&nbsp;&nbsp;267054 |
| &nbsp;&nbsp;&nbsp;&nbsp;434000 | Foundry JV Holdco LLC, 6.30%, 1/25/39(b) | &nbsp;&nbsp;&nbsp;454135 |
| &nbsp;&nbsp;&nbsp;&nbsp;200000 | Foundry JV Holdco LLC, 6.40%, 1/25/38(b) | &nbsp;&nbsp;&nbsp;210473 |
| &nbsp;&nbsp;&nbsp;&nbsp;685000 | General Motors Financial Co., Inc., 5.05%, 4/4/28 | &nbsp;&nbsp;&nbsp;690249 |
| &nbsp;&nbsp;&nbsp;&nbsp;340000 | General Motors Financial Co., Inc., Series A, 5.75%, (c),(d) | &nbsp;&nbsp;&nbsp;335357 |
| &nbsp;&nbsp;&nbsp;&nbsp;259000 | General Motors Financial Co., Inc., 6.15%, 7/15/35 | &nbsp;&nbsp;&nbsp;264539 |
| &nbsp;&nbsp;&nbsp;&nbsp;169000 | Global Atlantic Fin Co., 6.75%, 3/15/54(b) | &nbsp;&nbsp;&nbsp;173242 |
| &nbsp;&nbsp;&nbsp;&nbsp;182000 | GLP Capital LP / GLP Financing II, Inc., REIT, 5.63%, 9/15/34 | &nbsp;&nbsp;&nbsp;181508 |
| &nbsp;&nbsp;&nbsp;&nbsp;297000 | Goldman Sachs Group, Inc. (The), 5.54%, 1/28/36(c) | &nbsp;&nbsp;&nbsp;304602 |
| &nbsp;&nbsp;&nbsp;&nbsp;441000 | HA Sustainable Infrastructure Capital, Inc., 6.75%, 7/15/35 | &nbsp;&nbsp;&nbsp;449054 |
| &nbsp;&nbsp;&nbsp;&nbsp;212000 | HCA, Inc., 6.20%, 3/1/55 | &nbsp;&nbsp;&nbsp;213406 |
| &nbsp;&nbsp;&nbsp;&nbsp;200000 | Hess Midstream Operations LP, 5.88%, 3/1/28(b) | &nbsp;&nbsp;&nbsp;202968 |
| &nbsp;&nbsp;&nbsp;&nbsp;176000 | Huntington Bancshares, Inc., 6.14%, 11/18/39(c) | &nbsp;&nbsp;&nbsp;179622 |
| &nbsp;&nbsp;&nbsp;&nbsp;216000 | Hyundai Capital America, 5.40%, 6/23/32(b) | &nbsp;&nbsp;&nbsp;218677 |
| &nbsp;&nbsp;&nbsp;&nbsp;283000 | Intel Corp., 3.20%, 8/12/61 | &nbsp;&nbsp;&nbsp;160534 |
| &nbsp;&nbsp;&nbsp;&nbsp;210000 | Intel Corp., 5.60%, 2/21/54 | &nbsp;&nbsp;&nbsp;192412 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Core Plus Bond Fund (cont.)

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;$149000 | Intel Corp., 5.70%, 2/10/53 | &nbsp;&nbsp;&nbsp;&nbsp;$138534 |
| &nbsp;&nbsp;&nbsp;&nbsp;190000 | JH North America Holdings, Inc., 6.13%, 7/31/32(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193161 |
| &nbsp;&nbsp;&nbsp;&nbsp;352000 | KeyCorp, 6.40%, 3/6/35(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375483 |
| &nbsp;&nbsp;&nbsp;&nbsp;196000 | Liberty Utilities Co., 5.87%, 1/31/34(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199894 |
| &nbsp;&nbsp;&nbsp;&nbsp;337000 | LPL Holdings, Inc., 5.75%, 6/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340787 |
| &nbsp;&nbsp;&nbsp;&nbsp;187000 | M&T Bank Corp., MTN, 5.39%, 1/16/36(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186120 |
| &nbsp;&nbsp;&nbsp;&nbsp;250000 | Mars, Inc., 5.00%, 3/1/32(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253343 |
| &nbsp;&nbsp;&nbsp;&nbsp;190000 | Nissan Motor Acceptance Co. LLC, (SOFR Index + 2.050%), 6.45%, 9/13/27(b),(f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187166 |
| &nbsp;&nbsp;&nbsp;&nbsp;260000 | Northwest Natural Holding Co., 7.00%, 9/15/55(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262873 |
| &nbsp;&nbsp;&nbsp;&nbsp;165000 | Occidental Petroleum Corp., 6.45%, 9/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168933 |
| &nbsp;&nbsp;&nbsp;&nbsp;439000 | Pacific Gas and Electric Co., 6.75%, 1/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442379 |
| &nbsp;&nbsp;&nbsp;&nbsp;209000 | Paramount Global, 6.38%, 3/30/62(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204773 |
| &nbsp;&nbsp;&nbsp;&nbsp;170000 | Patterson-UTI Energy, Inc., 3.95%, 2/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164633 |
| &nbsp;&nbsp;&nbsp;&nbsp;387000 | PG&E Corp., 7.38%, 3/15/55(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367059 |
| &nbsp;&nbsp;&nbsp;&nbsp;225000 | Pilgrim's Pride Corp., 3.50%, 3/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202657 |
| &nbsp;&nbsp;&nbsp;&nbsp;480000 | Plains All American Pipeline LP, Series B, (Term SOFR 3M + 4.372%), 8.70%, (d),(g) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480565 |
| &nbsp;&nbsp;154,000(e) | Realty Income Corp., REIT, 3.88%, 6/20/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179419 |
| &nbsp;&nbsp;&nbsp;&nbsp;312000 | Regions Financial Corp., 5.50%, 9/6/35(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312652 |
| &nbsp;&nbsp;&nbsp;&nbsp;200000 | Rentokil Terminix Funding LLC, 5.63%, 4/28/35(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202897 |
| &nbsp;&nbsp;&nbsp;&nbsp;140000 | Royalty Pharma Plc, 5.90%, 9/2/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136105 |
| &nbsp;&nbsp;&nbsp;&nbsp;200000 | Truist Financial Corp., MTN, 5.71%, 1/24/35(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207237 |
| &nbsp;&nbsp;&nbsp;&nbsp;260000 | U.S. Cellular Corp., 6.70%, 12/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;273517 |
| &nbsp;&nbsp;&nbsp;&nbsp;160000 | Utah Acquisition Sub, Inc., 5.25%, 6/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129488 |
| &nbsp;&nbsp;&nbsp;&nbsp;230000 | Venture Global Plaquemines LNG LLC, 6.50%, 1/15/34(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230000 |
| &nbsp;&nbsp;&nbsp;&nbsp;230000 | Venture Global Plaquemines LNG LLC, 6.75%, 1/15/36(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230000 |
| &nbsp;&nbsp;&nbsp;&nbsp;431000 | Warnermedia Holdings, Inc., 5.05%, 3/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;289628 |
| &nbsp;&nbsp;&nbsp;&nbsp;119000 | Wells Fargo & Co., 5.61%, 4/23/36(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122834 |
| &nbsp;&nbsp;&nbsp;&nbsp;110000 | Whistler Pipeline LLC, 5.70%, 9/30/31(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112227 |
| &nbsp;&nbsp;&nbsp;&nbsp;159000 | Whistler Pipeline LLC, 5.95%, 9/30/34(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161137 |
| &nbsp;&nbsp;192,000(e) | WP Carey, Inc., REIT, 3.70%, 11/19/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219021 |
| &nbsp;&nbsp;&nbsp;&nbsp;250000 | Zions Bancorp NA, 6.82%, 11/19/35(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;259850 |
|  |  | &nbsp;&nbsp;&nbsp;23873715 |
| **Total Corporate Bonds** | **Total Corporate Bonds** | &nbsp;&nbsp;&nbsp;**34893915** |
| (Cost $34,302,833) | (Cost $34,302,833) |  |
| **U.S. Government Agency Backed Mortgages — 20.7%** | **U.S. Government Agency Backed Mortgages — 20.7%** |  |
| **United States — 20.7%** | **United States — 20.7%** |  |
| &nbsp;&nbsp;&nbsp;1175000 | Fannie Mae, (TBA), 3.50%, 7/1/55 | &nbsp;&nbsp;&nbsp;&nbsp;1057905 |
| &nbsp;&nbsp;&nbsp;&nbsp;675000 | Fannie Mae, (TBA), 4.00%, 7/1/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;627669 |
| &nbsp;&nbsp;&nbsp;1625000 | Fannie Mae, (TBA), 3.00%, 7/1/55 | &nbsp;&nbsp;&nbsp;&nbsp;1405648 |
| &nbsp;&nbsp;&nbsp;2650000 | Fannie Mae, (TBA), 2.50%, 7/1/55 | &nbsp;&nbsp;&nbsp;&nbsp;2197499 |
| &nbsp;&nbsp;&nbsp;3425000 | Fannie Mae, (TBA), 2.00%, 7/1/55 | &nbsp;&nbsp;&nbsp;&nbsp;2710470 |
| &nbsp;&nbsp;&nbsp;1200000 | Fannie Mae, (TBA), 6.00%, 7/1/55 | &nbsp;&nbsp;&nbsp;&nbsp;1219596 |
| &nbsp;&nbsp;&nbsp;&nbsp;850358 | Fannie Mae, Pool #BT8271, 4.00%, 7/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;792703 |
| &nbsp;&nbsp;&nbsp;&nbsp;187000 | Fannie Mae, Pool #CB4766, 5.00%, 9/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184846 |
| &nbsp;&nbsp;&nbsp;&nbsp;519943 | Fannie Mae, Pool #CB4768, 5.00%, 9/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;515193 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Core Plus Bond Fund (cont.)

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| $217478 | Fannie Mae, Pool #BT7932, 5.50%, 10/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;$221272 |
| &nbsp;&nbsp;338489 | Fannie Mae, Pool #CB5344, 6.50%, 12/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;353685 |
| &nbsp;&nbsp;&nbsp;&nbsp;96285 | Fannie Mae, Pool #CB4969, 5.50%, 10/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97686 |
| &nbsp;&nbsp;482632 | Fannie Mae, Pool #CB7160, 6.50%, 9/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498460 |
| &nbsp;&nbsp;993795 | Fannie Mae, Pool #CB9720, 5.50%, 12/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;998210 |
| &nbsp;&nbsp;392138 | Freddie Mac, Pool #RA7718, 4.50%, 7/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;376249 |
| &nbsp;&nbsp;137118 | Freddie Mac, Pool #QF4133, 6.00%, 11/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141928 |
|  |  | &nbsp;&nbsp;&nbsp;13399019 |
| **Total U.S. Government Agency Backed Mortgages** | **Total U.S. Government Agency Backed Mortgages** | &nbsp;&nbsp;&nbsp;**13399019** |
| (Cost $13,298,434) | (Cost $13,298,434) |  |
| **Collateralized Mortgage Obligations — 12.5%** | **Collateralized Mortgage Obligations — 12.5%** |  |
| **United States — 12.5%** | **United States — 12.5%** |  |
| &nbsp;&nbsp;169033 | BRAVO Residential Funding Trust, Series 2023-NQM5, Class A3, 7.01%, 6/25/63(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170289 |
| &nbsp;&nbsp;419388 | Cross Mortgage Trust, Series 2024-H2, Class A2, 6.42%, 4/25/69(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;421671 |
| &nbsp;&nbsp;352016 | Cross Mortgage Trust, Series 2023-H2, Class A1A, 7.14%, 11/25/68(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;357082 |
| &nbsp;&nbsp;&nbsp;&nbsp;21710 | CSMC Trust, Series 2020-SPT1, Class A2, 3.23%, 4/25/65(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21710 |
| &nbsp;&nbsp;559183 | GCAT Trust, Series 2023-NQM2, Class A3, 6.60%, 11/25/67(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;559070 |
| &nbsp;&nbsp;610000 | HOMES Trust, Series 2025-AFC2, Class A1A, 5.47%, 6/25/60(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610397 |
| &nbsp;&nbsp;250000 | HONO Mortgage Trust, Series 2021-LULU, Class A, (Term SOFR 1M + 1.264%), 5.58%, 10/15/36(b),(f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248130 |
| &nbsp;&nbsp;416763 | JP Morgan Mortgage Trust, Series 2025-VIS1, Class A1, 5.49%, 8/25/55(b),(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;418717 |
| &nbsp;&nbsp;155967 | MFA Trust, Series 2020-NQM3, Class A3, 1.63%, 1/26/65(b),(h) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146569 |
| &nbsp;&nbsp;340000 | OBX Trust, Series 2025-NQM11, Class A1, 5.42%, 5/25/65(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340674 |
| &nbsp;&nbsp;382722 | OBX Trust, Series 2025-NQM3, Class A1, 5.65%, 12/1/64(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;384530 |
| &nbsp;&nbsp;330151 | OBX Trust, Series 2023-NQM3, Class A1, 5.95%, 2/25/63(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330232 |
| &nbsp;&nbsp;281003 | OBX Trust, Series 2023-NQM10, Class A2, 6.92%, 10/25/63(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;283903 |
| &nbsp;&nbsp;285279 | OBX Trust, Series 2023-NQM6, Class A3, 6.98%, 7/25/63(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286698 |
| &nbsp;&nbsp;590000 | SWCH Commercial Mortgage Trust, Series 2025-DATA, Class C, (Term SOFR 1M + 2.092%), 6.40%, 2/15/42(b),(f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;583117 |
| &nbsp;&nbsp;590000 | SWCH Commercial Mortgage Trust, Series 2025-DATA, Class D, (Term SOFR 1M + 2.641%), 6.95%, 2/15/42(b),(f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;583139 |
| &nbsp;&nbsp;444245 | Verus Securitization Trust, Series 2024-8, Class A2, 5.62%, 10/25/69(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;444164 |
| &nbsp;&nbsp;269441 | Verus Securitization Trust, Series 2023-4, Class A1, 5.81%, 5/25/68(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269377 |
| &nbsp;&nbsp;265406 | Verus Securitization Trust, Series 2023-5, Class A2, 6.76%, 6/25/68(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;266405 |
| &nbsp;&nbsp;373345 | Verus Securitization Trust, Series 2024-3, Class A3, 6.85%, 4/25/69(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;377016 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Core Plus Bond Fund (cont.)

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| $660000 | Verus Securitization Trust, Series 2023-1, Class M1, 6.87%, 12/25/67(b),(h) | &nbsp;&nbsp;&nbsp;$660626 |
| &nbsp;&nbsp;332141 | Verus Securitization Trust, Series 2023-INV2, Class A3, 7.08%, 8/25/68(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334274 |
|  |  | &nbsp;&nbsp;&nbsp;8097790 |
| **Total Collateralized Mortgage Obligations** | **Total Collateralized Mortgage Obligations** | &nbsp;&nbsp;&nbsp;**8097790** |
| (Cost $8,126,047) | (Cost $8,126,047) |  |
| **Asset Backed Securities — 10.6%** | **Asset Backed Securities — 10.6%** |  |
| **Cayman Islands — 2.3%** | **Cayman Islands — 2.3%** |  |
| &nbsp;&nbsp;500000 | Crown Point CLO IV Ltd., Series 2018-4A, Class D, (Term SOFR 3M + 3.012%), 7.28%, 4/20/31(b),(f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;497750 |
| &nbsp;&nbsp;500000 | Northwoods Capital XVII Ltd., Series 2018-17A, Class D, (Term SOFR 3M + 3.112%), 7.38%, 4/22/31(b),(f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498300 |
| &nbsp;&nbsp;500000 | Shackleton-R CLO Ltd., Series 2015-7RA, Class DRR, (Term SOFR 3M + 3.000%), 7.26%, 7/15/31(b),(f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498150 |
|  |  | &nbsp;&nbsp;&nbsp;1494200 |
| **United States — 8.3%** | **United States — 8.3%** |  |
| &nbsp;&nbsp;144386 | ACHV ABS Trust, Series 2024-3AL, Class B, 5.45%, 12/26/31(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144923 |
| &nbsp;&nbsp;238674 | ACHV ABS Trust, Series 2024-3AL, Class C, 5.68%, 12/26/31(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240141 |
| &nbsp;&nbsp;212623 | ACHV ABS TRUST, Series 2024-1PL, Class B, 6.34%, 4/25/31(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214596 |
| &nbsp;&nbsp;150000 | Affirm Asset Securitization Trust, Series 2024-X2, Class C, 5.62%, 12/17/29(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150432 |
| &nbsp;&nbsp;105914 | MVW LLC, Series 2021-2A, Class B, 1.83%, 5/20/39(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98604 |
| &nbsp;&nbsp;366193 | Pagaya AI Debt Grantor Trust, Series 2024-8, Class B, 5.46%, 1/15/32(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366395 |
| &nbsp;&nbsp;499943 | Pagaya AI Debt Grantor Trust, Series 2024-11, Class B, 5.64%, 7/15/32(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501193 |
| &nbsp;&nbsp;409932 | Pagaya AI Debt Grantor Trust, Series 2024-8, Class D, 6.53%, 1/15/32(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;411594 |
| &nbsp;&nbsp;252854 | Pagaya AI Debt Grantor Trust 2024-6 And Pagaya AI Debt Trust, Series 2024-6, Class B, 6.59%, 11/15/31(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253669 |
| &nbsp;&nbsp;480000 | Summit Issuer LLC, Series 2020-1A, Class A2, 2.29%, 12/20/50(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;472770 |
| &nbsp;&nbsp;310000 | Switch ABS Issuer LLC, Series 2024-2A, Class B, 6.20%, 6/25/54(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;313419 |
| &nbsp;&nbsp;500000 | Tricolor Auto Securitization Trust, Series 2024-3A, Class D, 6.34%, 4/16/29(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;507979 |
| &nbsp;&nbsp;530000 | Uniti Fiber Abs Issuer LLC, Series 2025-1A, Class B, 6.37%, 4/20/55(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540695 |
| &nbsp;&nbsp;377124 | Upstart Securitization Trust, Series 2024-1, Class A, 5.33%, 11/20/34(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;377813 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Core Plus Bond Fund (cont.)

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| &nbsp;&nbsp;&nbsp;$450000 | Upstart Securitization Trust, Series 2023-2, Class B, 7.92%, 6/20/33(b) | &nbsp;&nbsp;&nbsp;$454868 |
| &nbsp;&nbsp;&nbsp;&nbsp;300000 | Zayo Issuer LLC, Series 2025-1A, Class B, 6.09%, 3/20/55(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303708 |
|  |  | &nbsp;&nbsp;&nbsp;5352799 |
| **Total Asset Backed Securities** | **Total Asset Backed Securities** | &nbsp;&nbsp;&nbsp;**6846999** |
| (Cost $6,829,012) | (Cost $6,829,012) |  |
| **Bank Loans — 6.6%** | **Bank Loans — 6.6%** |  |
| **Cayman Islands — 0.8%** | **Cayman Islands — 0.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;497500 | AS Mileage Plan IP Ltd., (Term SOFR 3M + 2.00%), 6.27%, 10/15/31(f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;499117 |
| **Ireland — 0.4%** | **Ireland — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;250000 | Setanta Aircraft Leasing DAC, (Term SOFR 3M + 1.75%), 6.05%, 11/6/28(f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251160 |
| **Netherlands — 0.7%** | **Netherlands — 0.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;443200 | Flutter Financing BV, 6.35%, 6/4/32(f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442646 |
| **United States — 4.7%** | **United States — 4.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;586055 | Avolon TLB Borrower 1 US LLC, (Term SOFR 1M + 1.75%), 6.07%, 6/24/30(f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;586307 |
| &nbsp;&nbsp;&nbsp;&nbsp;433400 | Charter Communications Operating LLC, (Term SOFR 3M + 2.00%), 6.30%, 12/9/30(f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;433053 |
| &nbsp;&nbsp;&nbsp;&nbsp;434906 | Citadel Securities LP, (Term SOFR 1M + 2.00%), 6.33%, 10/31/31(f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;436485 |
| &nbsp;&nbsp;&nbsp;&nbsp;217403 | Entegris, Inc, (Term SOFR 3M + 1.75%), 6.05%, 7/6/29(f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218429 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88800 | Herc Holdings, Inc., (Term SOFR 1M + 2.00%), 6.32%, 6/2/32(f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89059 |
| &nbsp;&nbsp;&nbsp;&nbsp;413963 | Hilcorp Energy I LP, (Term SOFR 1M + 2.00%), 6.33%, 2/11/30(f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;413963 |
| &nbsp;&nbsp;&nbsp;&nbsp;400000 | Hilton Domestic Operating Co, Inc., (Term SOFR 1M + 1.75%), 6.07%, 11/8/30(f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;401188 |
| &nbsp;&nbsp;&nbsp;&nbsp;498750 | Terex Corp., (Term SOFR 1M + 2.00%), 6.33%, 10/8/31(f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501194 |
|  |  | &nbsp;&nbsp;&nbsp;3079678 |
| **Total Bank Loans** | **Total Bank Loans** | &nbsp;&nbsp;&nbsp;**4272601** |
| (Cost $4,252,283) | (Cost $4,252,283) |  |
| **Foreign Government Bonds — 5.6%** | **Foreign Government Bonds — 5.6%** |  |
| **Australia — 1.1%** | **Australia — 1.1%** |  |
| &nbsp;&nbsp;952,000(i) | Australia Government Bond, Series 162, 1.75%, 6/21/51(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341448 |
| &nbsp;&nbsp;578,000(i) | Australia Government Bond, Series 169, 4.75%, 6/21/54(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375491 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;716939 |
| **Ecuador — 0.4%** | **Ecuador — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;270000 | Amazon Conservation DAC, 6.03%, 1/16/42(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269602 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Core Plus Bond Fund (cont.)

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| **Japan — 3.2%** | **Japan — 3.2%** |  |
| 301,050,000(j) | Japan Government Forty Year Bond, Series 13, 0.50%, 3/20/60 | &nbsp;&nbsp;&nbsp;$996620 |
| &nbsp;&nbsp;10,000,000(j) | Japan Government Thirty Year Bond, Series 82, 1.80%, 3/20/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55510 |
| &nbsp;&nbsp;78,650,000(j) | Japan Government Thirty Year Bond, Series 84, 2.10%, 9/20/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;468973 |
| &nbsp;&nbsp;84,200,000(j) | Japan Government Thirty Year Bond, Series 85, 2.30%, 12/20/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525068 |
|  |  | &nbsp;&nbsp;&nbsp;2046171 |
| **United Kingdom — 0.9%** | **United Kingdom — 0.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500,000(k) | United Kingdom Gilt, 4.38%, 7/31/54(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;594784 |
| **Total Foreign Government Bonds** | **Total Foreign Government Bonds** | &nbsp;&nbsp;&nbsp;**3627496** |
| (Cost $3,637,875) | (Cost $3,637,875) |  |

---

---

| | | |
|:---|:---|:---|
| **Contracts** |  |  |
| **Put Swaptions Purchased — 0.1%** | **Put Swaptions Purchased — 0.1%** |  |
| 32700000 | USD Swaption, Series 44, Strike Price USD 57.50, Expires 9/17/25 | 57716 |
| **Total Put Swaptions Purchased** | **Total Put Swaptions Purchased** | **57716** |
| (Cost $57,716) | (Cost $57,716) |  |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  |  |
| **Investment Company — 4.5%** | **Investment Company — 4.5%** |  |
| 2883699 | RBC BlueBay U.S. Government Money Market Fund,<br> Institutional Class 1 (l) | &nbsp;&nbsp;&nbsp;&nbsp;2883699 |
| **Total Investment Company** | **Total Investment Company** | &nbsp;&nbsp;&nbsp;&nbsp;**2883699** |
| (Cost $2,883,699) | (Cost $2,883,699) |  |
| **Total Investments** | **Total Investments** | **$74079235** |
| (Cost $73,387,899) — 114.6% | (Cost $73,387,899) — 114.6% |  |
| **Liabilities in excess of other assets — (14.6)%** | **Liabilities in excess of other assets — (14.6)%** | &nbsp;&nbsp;&nbsp;**(9421425)** |
| **NET ASSETS — 100.0%** | **NET ASSETS — 100.0%** | **$64657810** |

---

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Core Plus Bond Fund (cont.)

------

June 30, 2025 (Unaudited)

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

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

(c) Security is a fix-to-float security, which carries a fixed coupon until a certain date, upon which it switches to a floating rate. Reference rate and spread are provided if the rate is currently
floating.

(d) Perpetual security with no stated maturity date.

(e) Principal amount denoted in Euros.

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

(g) Variable rate security. The rate reflected in the Schedule of Portfolio Investments is the rate in effect on June 30, 2025.

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

(i) Principal amount denoted in Australian dollar.

(j) Principal amount denoted in Japanese Yen.

(k) Principal amount denoted in British Pounds.

(l) Affiliated investment.

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Core Plus Bond Fund (cont.)

------

June 30, 2025 (Unaudited)

#### Foreign currency exchange contracts as of June 30, 2025:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Counterparty** | **Settlement<br> Date** | **Value/Unrealized<br> Appreciation<br> (Depreciation)** |
| AUD | &nbsp;&nbsp;&nbsp;&nbsp;1940655 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;1223963 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;$53512 |
| AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;628163 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;403480 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10021 |
| CAD | &nbsp;&nbsp;&nbsp;&nbsp;1759438 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;1271276 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21403 |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405178 | &nbsp;&nbsp;CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;374994 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4401 |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286314 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242204 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5002 |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;842014 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;707796 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20880 |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp;1671547 | &nbsp;&nbsp;&nbsp;JPY | 272131964 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78482 |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | NOK | &nbsp;&nbsp;&nbsp;&nbsp;4750795 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115 |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9784 | NOK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114082 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214 |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp;1126139 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;1247165 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80209 |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;489361 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;549158 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27650 |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;815955 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;956903 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4859 |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;563861 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;622940 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41681 |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;830221 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;973818 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4759 |
| GBP | &nbsp;&nbsp;&nbsp;&nbsp;1223459 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;1672575 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6877 |
| JPY | 309678128 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;2144213 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8557 |
| JPY | 281839509 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;1954197 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5049 |
| MXN | &nbsp;&nbsp;&nbsp;&nbsp;1622412 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77703 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8673 |
| MXN | &nbsp;&nbsp;&nbsp;&nbsp;1165079 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58923 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3104 |
| NOK | &nbsp;&nbsp;&nbsp;&nbsp;2486382 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207535 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2073 |
| NOK | &nbsp;&nbsp;&nbsp;&nbsp;2378494 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53881 | &nbsp;&nbsp;&nbsp;JPY | &nbsp;&nbsp;&nbsp;&nbsp;7600000 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1048 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;439238 | &nbsp;&nbsp;&nbsp;JPY | &nbsp;&nbsp;62500000 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4760 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;539317 | &nbsp;&nbsp;&nbsp;JPY | &nbsp;&nbsp;77500000 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;554221 | &nbsp;&nbsp;&nbsp;JPY | &nbsp;&nbsp;79207020 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3603 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;676497 | &nbsp;&nbsp;&nbsp;JPY | &nbsp;&nbsp;95872600 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10025 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;1318701 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;959642 | Citibank N.A. | 10/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;586 |
|  |  |  |  |  |  | &nbsp;&nbsp;$408358 |
| CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;378328 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;412169 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;$(8434) |
| CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;412072 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6209) |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410000 | &nbsp;&nbsp;CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;383335 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(440) |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50688 | &nbsp;&nbsp;&nbsp;JPY | &nbsp;&nbsp;&nbsp;&nbsp;8595638 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) |
| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;1130487 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;(28426) |
| JPY | 280727602 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;1742782 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;(102692) |
| JPY | &nbsp;&nbsp;44586798 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310000 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(49) |
| NOK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113575 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9567 | Citibank N.A. | 10/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(74) |
| NOK | &nbsp;&nbsp;10129273 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;852705 | Citibank N.A. | 10/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5945) |
| NOK | &nbsp;&nbsp;&nbsp;&nbsp;2821664 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237728 | Citibank N.A. | 10/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1886) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236664 | AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;393129 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;(22122) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165880 | AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276857 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;(16367) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;1240000 | AUD | &nbsp;&nbsp;&nbsp;&nbsp;2027403 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;(94579) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;638983 | AUD | &nbsp;&nbsp;&nbsp;&nbsp;1004177 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;(22037) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;1234897 | CAD | &nbsp;&nbsp;&nbsp;&nbsp;1759438 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;(57783) |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Core Plus Bond Fund (cont.)

------

June 30, 2025 (Unaudited)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Counterparty** | **Settlement<br> Date** | **Value/Unrealized<br> Appreciation<br> (Depreciation)** |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;1502249 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;1330803 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;$(66362) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;602430 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540000 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;(34065) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;428216 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;392320 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;(34209) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;1368652 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;1253857 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;(109262) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;336569 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;308558 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;(27127) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;967654 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;(61877) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341498 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263816 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;(20645) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;271286 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209642 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;(16492) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;507513 | &nbsp;&nbsp;&nbsp;JPY | &nbsp;&nbsp;75158357 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;(14960) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;1640000 | &nbsp;&nbsp;&nbsp;JPY | 238266458 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;(16342) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117530 | MXN | &nbsp;&nbsp;&nbsp;&nbsp;2432700 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;(11985) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17938 | MXN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354790 | Citibank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;7/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(951) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;963138 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;815955 | Citibank N.A. | 10/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4789) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980163 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;830221 | Citibank N.A. | 10/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4688) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;2167813 | &nbsp;&nbsp;&nbsp;JPY | 309678128 | Citibank N.A. | 10/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8553) |
|  |  |  |  |  |  | $(799358) |
| **Total** |  |  |  |  |  | $(391000) |

---

#### Swaptions Written as of June 30, 2025:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Counterparty** | **Fixed<br> Rate** | **Expiration<br> Date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Amount(000)** | | &nbsp;&nbsp;&nbsp;&nbsp;**Market<br> Value** |
| Put - USD Swaption, Series 44,<br> Credit Default Swap | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley<br>& Co. LLC | &nbsp;&nbsp;&nbsp;&nbsp;1.00% | 09/17/25 | &nbsp;&nbsp;&nbsp;(32700000) | USD | $(27795) |
| **Total premiums<br> paid$(27795)** |  |  |  |  |  | $(27795) |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Core Plus Bond Fund (cont.)

------

June 30, 2025 (Unaudited)

#### Financial futures contracts as of June 30, 2025:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Long Position** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value/Unrealized<br> Appreciation<br> (Depreciation)** | &nbsp;&nbsp;**Notional<br> Value** | &nbsp;&nbsp;**Notional<br> Value** | &nbsp;&nbsp;**Clearinghouse** |
| 10 Year U.S. Treasury Note | &nbsp;&nbsp;23 | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;$(34924) | &nbsp;&nbsp;USD | &nbsp;&nbsp;$2578875 | &nbsp;&nbsp;Morgan Stanley & Co. LLC |
| 2 Year U.S. Treasury Note | &nbsp;&nbsp;58 | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46768 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;12065359 | &nbsp;&nbsp;Morgan Stanley & Co. LLC |
| 30 Year U.S. Treasury Bond | &nbsp;&nbsp;18 | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30068 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2078438 | &nbsp;&nbsp;Morgan Stanley & Co. LLC |
| 5 Year U.S. Treasury Note | &nbsp;&nbsp;36 | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35769 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3924000 | &nbsp;&nbsp;Morgan Stanley & Co. LLC |
| Cboe VIX | &nbsp;&nbsp;20 | &nbsp;&nbsp;July 2025 | &nbsp;&nbsp;&nbsp;&nbsp;(20796) | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;374250 | &nbsp;&nbsp;Morgan Stanley & Co. LLC |
| **Total** |  |  | &nbsp;&nbsp;$56885 |  |  |  |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Short Position** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value/Unrealized<br> Appreciation<br> (Depreciation)** | &nbsp;&nbsp;**Notional<br> Value** | &nbsp;&nbsp;**Notional<br> Value** | &nbsp;&nbsp;**Clearinghouse** |
| 10 Year Euro-Bund | &nbsp;&nbsp;8 | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$6879 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;$1226482 | &nbsp;&nbsp;Morgan Stanley & Co. LLC |
| 10 Year Japan Bond | &nbsp;&nbsp;6 | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;(26695) | &nbsp;&nbsp;&nbsp;JPY | &nbsp;&nbsp;&nbsp;&nbsp;5792299 | &nbsp;&nbsp;Morgan Stanley & Co. LLC |
| 30 Year U.S. Ultra Treasury Bond | &nbsp;&nbsp;7 | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1542) | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;833875 | &nbsp;&nbsp;Morgan Stanley & Co. LLC |
| 5 Year Euro-Bobl | &nbsp;&nbsp;1 | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138621 | &nbsp;&nbsp;Morgan Stanley & Co. LLC |
| **Total** |  |  | &nbsp;&nbsp;$(20988) |  |  |  |

---

#### Interest rate swaps as of June 30, 2025:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fixed<br> Rate** | **Float<br> Rate** | **Pay<br> Receive** | **Pay<br> Freq** | **Counter-<br> party** | **Exp.<br> Date** | **Notional<br> Amount<br> (000)** | **Premium<br> Paid/<br> (Received)** | **Unreal<br> App<br> (Dep)** | **Value** |
| 4.45% | GBP-<br> BNPLDN | Pay | Yearly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley & Co. LLC | 3/24/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GBP 370 | &nbsp;&nbsp;&nbsp;&nbsp;$0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$453 |
| 1.88% | JPY-<br> JPMLDN | Pay | Yearly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley & Co. LLC | 4/11/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JPY 6,094 | &nbsp;&nbsp;&nbsp;&nbsp;$0 | &nbsp;&nbsp;&nbsp;&nbsp;$2779 | &nbsp;&nbsp;&nbsp;&nbsp;$2779 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Core Plus Bond Fund (cont.)

------

June 30, 2025 (Unaudited)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fixed<br> Rate** | **Float<br> Rate** | **Pay<br> Receive** | **Pay<br> Freq** | **Counter-<br> party** | **Exp.<br> Date** | **Notional<br> Amount<br> (000)** | **Premium<br> Paid/<br> (Received)** | **Unreal<br> App<br> (Dep)** | **Value** |
| 1.87% | JPY-<br> JPMLDN | Pay | Yearly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley & Co. LLC | 4/11/55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JPY 6,094 | &nbsp;&nbsp;&nbsp;&nbsp;$0 | &nbsp;&nbsp;&nbsp;&nbsp;$2876 | &nbsp;&nbsp;&nbsp;&nbsp;$2876 |
| 3.74% | USD-<br> BCAPLDN | Receive | Yearly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley & Co. LLC | 5/27/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;USD 8,000 | &nbsp;&nbsp;&nbsp;&nbsp;$0 | &nbsp;&nbsp;$28528 | &nbsp;&nbsp;$28528 |
| 3.77% | USD-<br> BCAPLDN | Receive | Yearly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley & Co. LLC | 5/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;USD 7,969 | &nbsp;&nbsp;&nbsp;&nbsp;$0 | &nbsp;&nbsp;$31333 | &nbsp;&nbsp;$31333 |
| 3.74% | USD-<br> BCAPLDN | Receive | Yearly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley & Co. LLC | 5/22/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;USD 7,921 | &nbsp;&nbsp;&nbsp;&nbsp;$0 | &nbsp;&nbsp;$27309 | &nbsp;&nbsp;$27309 |
|  |  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;$0 | &nbsp;&nbsp;$93278 | &nbsp;&nbsp;$93278 |
| 0.83% | JPY-<br> BNPLDN | Pay | Yearly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley & Co. LLC | 3/14/27 | &nbsp;&nbsp;JPY 1,138,000 | $606 | $(26124) | $(25518) |
| 0.71% | JPY-<br> BNPLDN | Pay | Yearly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley & Co. LLC | 5/16/27 | &nbsp;&nbsp;JPY 1,067,350 | &nbsp;&nbsp;&nbsp;&nbsp;$0 | &nbsp;&nbsp;$(1076) | &nbsp;&nbsp;$(1076) |
| 1.21% | JPY-<br> JPMLDN | Pay | Yearly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley & Co. LLC | 5/29/35 | &nbsp;&nbsp;&nbsp;JPY 157,000 | &nbsp;&nbsp;&nbsp;&nbsp;$0 | &nbsp;&nbsp;$(1576) | &nbsp;&nbsp;$(1576) |
|  |  |  |  |  |  |  | $606 | $(28776) | $(28170) |
| **Total** |  |  |  |  |  |  | $606 | &nbsp;&nbsp;$64502 | &nbsp;&nbsp;$65108 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Core Plus Bond Fund (cont.)

------

June 30, 2025 (Unaudited)

#### Credit default swaps buy protection as of June 30, 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** |
| 1.00% | Markit CDX IG Index Series 44 | Quarterly | Morgan Stanley & Co. LLC | 6/20/30 | USD | 21129 | $(398929) | $(75484) | $(474412) |
| 1.00% | Markit CDX IG Index Series 44 | Quarterly | Morgan Stanley & Co. LLC | 6/20/30 | USD | &nbsp;&nbsp;1747 | &nbsp;&nbsp;&nbsp;&nbsp;(20629) | &nbsp;&nbsp;(18597) | &nbsp;&nbsp;&nbsp;&nbsp;(39226) |
| **Total** |  |  |  |  |  |  | $(419558) | $(94081) | $(513638) |

---

---

| |
|:---|
| Abbreviations used are defined below: |
| AUD - Australian Dollar |
| Bobl - German Bundesobligationen |
| CAD - Canadian Dollar |
| CHF - Swiss Franc |
| EMTN - Euro Medium Term Note |
| EUR - Euro |
| GBP - United Kingdom Pound Sterling |
| JPY - Japanese Yen |
| MTN - Medium Term Note |
| MXN - Mexican Peso |
| NOK - Norwegian Krone |
| REIT - Real Estate Investment Trust |
| SOFR - Secured Overnight Financing Rate |
| TBA - To-be-announced |
| USD - United States Dollar |

---

## 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 Core Plus Bond Fund

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

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

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

- **a. Date of fiscal year-end:** 2025-09-30

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $79944335.78

**Total Liabilities:** $15280780.33

**Net Assets:** $64663555.45

**Delayed Delivery Securities:** $3092431.15

**Stand-by Commitments:** $9023611.33

**Cash Not Reported:** $2338558.01

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00540000 | **1-Year:** 0.06250000 | **5-Year:** 0.41300000 | **10-Year:** 1.42300000 | **30-Year:** 1.39110000

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

- **3-Month:** 0.00000000 | **1-Year:** 0.00010000 | **5-Year:** -2.07780000 | **10-Year:** 0.02860000 | **30-Year:** 0.38400000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000231739 | -0.65%               | -0.22%               | 1.66%                |
| Class ID C000231741 | -0.63%               | -0.22%               | 1.59%                |
| Class ID C000231740 | -0.63%               | -0.22%               | 1.60%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-184621.53              | $-10664.52                                 |
| Month 2  | $111967.07               | $-147159.39                                |
| Month 3  | $-51714.32               | $845469.37                                 |

**Designated Index Information**

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

- **Index Identifier:** LBUSTRUU

### Schedule of Portfolio Investments

| Name                                         | Title                                                                           | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Entegris Inc                                 | ENTEGRIS INC                                                                    | CUSIP: 29362LAM6<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | LON              | CORP              | US        |    232931 | PA      | $234030.88    | 0.36%             | 2029-07-06      | Floating      | 6.05%                 | No            |                  2 | On Loan: No      |
| AVOLON TLB BORROWER 1 US                     | AVOLON TLB BORROWER 1 US                                                        | CUSIP: 05400KAJ9<br>LEI: 635400O84AGITYFZQB55 | Long             | LON              | CORP              | US        |    587528 | PA      | $587780.14    | 0.91%             | 2030-06-24      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae Pool                                                                 | CUSIP: 3140QQQX6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     96285 | PA      | $97685.96     | 0.15%             | 2052-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                | Citigroup Inc                                                                   | CUSIP: 000000000<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    360000 | PA      | $433363.63    | 0.67%             | 2036-04-29      | Fixed         | 4.11%                 | No            |                  2 | On Loan: No      |
| FOUNDRY JV HOLDCO LLC                        | Foundry JV Holdco LLC                                                           | CUSIP: 350930AA1<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |    200000 | PA      | $203157.60    | 0.31%             | 2034-01-25      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BGC GROUP INC                                | BGC Group Inc                                                                   | CUSIP: 05555LAC5<br>LEI: 2549001IGRCG4F0RLD36 | Long             | DBT              | CORP              | US        |    250000 | PA      | $253573.97    | 0.39%             | 2030-04-02      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| HOMES TRUST                                  | HOMES 2025-AFC2 TRUST                                                           | CUSIP: 43761YAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    610000 | PA      | $610397.41    | 0.94%             | 2060-06-25      | Variable      | 5.47%                 | No            |                  2 | On Loan: No      |
| BAYER US FINANCE LLC                         | Bayer US Finance LLC                                                            | CUSIP: 07274EAK9<br>LEI: 54930093Q75GSEM74I71 | Long             | DBT              | CORP              | US        |    210000 | PA      | $223747.64    | 0.35%             | 2030-11-21      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | EUR/GBP FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $20880.22     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                     | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175BT0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    211000 | PA      | $168984.48    | 0.26%             | 2050-03-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | EUR/NOK FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $114.67       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| As Mileage Plan Ip Ltd.                      | AS MILEAGE PLAN IP LTD                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | KY        |    497500 | PA      | $499116.88    | 0.77%             | 2031-10-15      | Floating      | 6.27%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae Pool                                                                 | CUSIP: 3140QQ5E1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    338489 | PA      | $353684.71    | 0.55%             | 2052-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                     | Warnermedia Holdings Inc                                                        | CUSIP: 55903VBD4<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    431000 | PA      | $254442.96    | 0.39%             | 2042-03-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                        | Wells Fargo & Co                                                                | CUSIP: 95000U3V3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    177000 | PA      | $182702.40    | 0.28%             | 2036-04-23      | Fixed         | 5.61%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                     | SWOP CDS CDX.NA.IG.44.V1                                                        | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DCR              | CORP              | US        |  32700000 | NC      | $57715.50     | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | USD/AUD FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-22121.59    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| CODELCO INC                                  | Corp Nacional del Cobre de Chile                                                | CUSIP: 21987BBK3<br>LEI: 549300UVMBCBCIPSUI70 | Long             | DBT              | CORP              | CL        |    210000 | PA      | $219502.00    | 0.34%             | 2036-01-26      | Fixed         | 6.44%                 | No            |                  2 | On Loan: No      |
| VODAFONE GROUP PLC                           | Vodafone Group PLC                                                              | CUSIP: 92857WCA6<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |    210000 | PA      | $201389.95    | 0.31%             | 2054-06-28      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                           | Ally Financial Inc                                                              | CUSIP: 02005NBM1<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    240000 | PA      | $231389.04    | 0.36%             | N/A             | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.  | US 5YR NOTE (CBT)                                                               | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        36 | NC      | $35769.60     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                     | IRS JPY                                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DIR              | CORP              | US        |         1 | NC      | $2876.37      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL                             | Paramount Global                                                                | CUSIP: 92556HAE7<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |    209000 | PA      | $204773.06    | 0.32%             | 2062-03-30      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | USD/GBP FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $586.31       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                     | Capital One Financial Corp                                                      | CUSIP: 254709AT5<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    142000 | PA      | $165049.23    | 0.26%             | 2034-11-02      | Fixed         | 7.96%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | USD/CAD FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-57782.95    | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| SOUTH BOW USA INFRA HLDS                     | South Bow USA Infrastructure Holdings LLC                                       | CUSIP: 83007CAE2<br>LEI: 254900Z1WAY7QFQ7O850 | Long             | DBT              | CORP              | US        |    170000 | PA      | $168135.17    | 0.26%             | 2034-10-01      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                   | Verus Securitization Trust 2023-1                                               | CUSIP: 92539BAD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    660000 | PA      | $660626.22    | 1.02%             | 2067-12-25      | Variable      | 6.87%                 | No            |                  2 | On Loan: No      |
| FIDELIS INSUR HLD LTD                        | Fidelis Insurance Holdings Ltd                                                  | CUSIP: 31575FAC0<br>LEI: 549300CDMGCAGJQ7DX03 | Long             | DBT              | CORP              | BM        |    369000 | PA      | $380619.80    | 0.59%             | 2055-06-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| JAPAN (30 YEAR ISSUE)                        | Japan Government Thirty Year Bond                                               | CUSIP: 000000000<br>LEI: 353800WZS8AXZXFUC241 | Long             | DBT              | NUSS              | JP        |  84200000 | PA      | $525068.05    | 0.81%             | 2054-12-20      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae Pool                                                                 | CUSIP: 3140QS5W7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    482632 | PA      | $498460.12    | 0.77%             | 2053-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                     | IRS JPY                                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DIR              | CORP              | US        |         1 | NC      | $-1075.81     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                     | CDS CDX.NA.IG.44.V1                                                             | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DCR              | CORP              | US        |         1 | NC      | $-39225.66    | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| AMERICAN NATIONAL GROUP                      | American National Group Inc                                                     | CUSIP: 025676AQ0<br>LEI: 549300RK5RZQ740FPL83 | Long             | DBT              | CORP              | US        |    330000 | PA      | $331435.88    | 0.51%             | 2035-07-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | NOK/EUR FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-5945.41     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | USD/AUD FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-22036.82    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| UTAH ACQUISITION SUB                         | Utah Acquisition Sub Inc                                                        | CUSIP: 62854AAP9<br>LEI: 254900JOFV74IJ7H9933 | Long             | DBT              | CORP              | US        |    160000 | PA      | $129488.30    | 0.20%             | 2046-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| GLP CAPITAL LP / FIN II                      | GLP Capital LP / GLP Financing II Inc                                           | CUSIP: 361841AT6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    182000 | PA      | $181507.92    | 0.28%             | 2034-09-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| CITADEL LP                                   | Citadel LP                                                                      | CUSIP: 17288XAD6<br>LEI: 549300IPM6EKPVUPFL67 | Long             | DBT              | CORP              | US        |    170000 | PA      | $175746.82    | 0.27%             | 2030-01-23      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | EUR/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $80208.68     | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| RAIZEN FUELS FINANCE                         | Raizen Fuels Finance SA                                                         | CUSIP: 75102XAE6<br>LEI: 52990010NH26VC32Q522 | Long             | DBT              | CORP              | LU        |    290000 | PA      | $284238.04    | 0.44%             | 2037-02-25      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                       | Pacific Gas and Electric Co                                                     | CUSIP: 694308KH9<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    439000 | PA      | $442379.19    | 0.68%             | 2053-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| LIBERTY UTILITIES CO                         | Liberty Utilities Co                                                            | CUSIP: 531542AB4<br>LEI: 549300UN1FEYPC5BKW09 | Long             | DBT              | CORP              | US        |    196000 | PA      | $199893.67    | 0.31%             | 2034-01-31      | Fixed         | 5.87%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANCORP                          | Fifth Third Bancorp                                                             | CUSIP: 316773DF4<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |    210000 | PA      | $200590.18    | 0.31%             | 2033-04-25      | Fixed         | 4.34%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | USD/JPY FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $3602.85      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Northwoods Capital Ltd                       | Northwoods Capital XVII Ltd                                                     | CUSIP: 66860PAG9<br>LEI: 549300VSNJNLNM3KF997 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $498300.00    | 0.77%             | 2031-04-22      | Floating      | 7.38%                 | No            |                  2 | On Loan: No      |
| MVW Owner Trust                              | MVW 2021-2 LLC                                                                  | CUSIP: 55400KAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    105914 | PA      | $98604.46     | 0.15%             | 2039-05-20      | Fixed         | 1.83%                 | No            |                  2 | On Loan: No      |
| M&T BANK CORPORATION                         | M&T Bank Corp                                                                   | CUSIP: 55261FAV6<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |    187000 | PA      | $186119.65    | 0.29%             | 2036-01-16      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| PATTERSON-UTI ENERGY INC                     | Patterson-UTI Energy Inc                                                        | CUSIP: 703481AB7<br>LEI: 254900XGFBKIXD6G0697 | Long             | DBT              | CORP              | US        |    170000 | PA      | $164632.91    | 0.25%             | 2028-02-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| CAPITAL POWER US HOLDING                     | Capital Power US Holdings Inc                                                   | CUSIP: 14041TAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    330000 | PA      | $340485.03    | 0.53%             | 2035-06-01      | Fixed         | 6.19%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE                             | Societe Generale SA                                                             | CUSIP: 000000000<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    230000 | PA      | $209733.94    | 0.32%             | N/A             | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                     | CDS CDX.NA.IG.44.V1                                                             | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DCR              | CORP              | US        |         1 | NC      | $-474412.64   | -0.73%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae Pool                                                                 | CUSIP: 3140LWY68<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    217478 | PA      | $221271.58    | 0.34%             | 2052-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| RBC BlueBay US Government Money Market Fund  | RBC BlueBay US Government Money Market Fund                                     | CUSIP: 74926P696<br>LEI: 549300RFDC5U7WLJKO50 | Long             | STIV             | RF                | US        |   1937729 | NS      | $1937729.47   | 3.00%             |  |  |  | No            |                  1 | On Loan: No      |
| JH NORTH AMERICA HOLDING                     | JH North America Holdings Inc                                                   | CUSIP: 46593WAB1<br>LEI: 254900A6FXA0D81TL967 | Long             | DBT              | CORP              | US        |    190000 | PA      | $193161.27    | 0.30%             | 2032-07-31      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| HARBOUR ENERGY PLC                           | Harbour Energy PLC                                                              | CUSIP: 411618AD3<br>LEI: 213800YPC42DYBKVPF97 | Long             | DBT              | CORP              | GB        |    180000 | PA      | $179232.30    | 0.28%             | 2035-04-01      | Fixed         | 6.33%                 | No            |                  2 | On Loan: No      |
| HONO Mortgage Trust                          | HONO 2021-LULU Mortgage Trust                                                   | CUSIP: 40390MAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $248130.40    | 0.38%             | 2036-10-15      | Floating      | 5.58%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                    | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F032674<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1175000 | PA      | $1057905.38   | 1.64%             | 2055-07-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | CHF/EUR FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-8433.81     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| EDISON INTERNATIONAL                         | Edison International                                                            | CUSIP: 281020AS6<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |    600000 | PA      | $564287.66    | 0.87%             | N/A             | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| ACHV ABS TRUST                               | ACHV ABS TRUST 2024-1PL                                                         | CUSIP: 00092BAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    212623 | PA      | $214596.33    | 0.33%             | 2031-04-25      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | GBP/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $6877.04      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | EUR/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $27649.62     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Upstart Securitization Trust                 | Upstart Securitization Trust 2023-2                                             | CUSIP: 91683VAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    450000 | PA      | $454867.86    | 0.70%             | 2033-06-20      | Fixed         | 7.92%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | USD/EUR FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-27126.90    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | NOK/EUR FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $249.96       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac Pool                                                                | CUSIP: 3133BRSW5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    137118 | PA      | $141927.88    | 0.22%             | 2052-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | JPY/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $8556.77      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| SNAM SPA                                     | Snam SpA                                                                        | CUSIP: 83304JAC1<br>LEI: 8156002278562044AF79 | Long             | DBT              | CORP              | IT        |    200000 | PA      | $207461.42    | 0.32%             | 2055-05-28      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                    | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F022675<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2650000 | PA      | $2197499.25   | 3.40%             | 2055-07-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | MXN/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $8673.14      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| ONSLOW BAY FINANCIAL LLC                     | OBX 2025-NQM11 TRUST                                                            | CUSIP: 67449BAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    340000 | PA      | $340673.70    | 0.53%             | 2065-05-25      | Variable      | 5.42%                 | No            |                  2 | On Loan: No      |
| FOUNDRY JV HOLDCO LLC                        | Foundry JV Holdco LLC                                                           | CUSIP: 350930AE3<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |    200000 | PA      | $210473.33    | 0.33%             | 2038-01-25      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | USD/EUR FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-34209.27    | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | EUR/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $4858.99      | 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      | $-4788.54     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| NOMURA HOLDINGS INC                          | Nomura Holdings Inc                                                             | CUSIP: 65535HCC1<br>LEI: 549300B3CEAHYG7K8164 | Long             | DBT              | CORP              | JP        |    360000 | PA      | $364462.92    | 0.56%             | N/A             | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                     | IRS USD                                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DIR              | CORP              | US        |         1 | NC      | $27321.99     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae Pool                                                                 | CUSIP: 3140QQJL0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    187000 | PA      | $184846.49    | 0.29%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | USD/JPY FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-16341.89    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                    | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F040677<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    675000 | PA      | $627669.00    | 0.97%             | 2055-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | NOK/EUR FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-74.03       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Crown Point CLO Ltd                          | Crown Point CLO IV Ltd                                                          | CUSIP: 22845XAL4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $497750.00    | 0.77%             | 2031-04-20      | Floating      | 7.28%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | EUR/CHF FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-440.23      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                         | Cross 2024-H2 Mortgage Trust                                                    | CUSIP: 22757BAB0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    419388 | PA      | $421671.39    | 0.65%             | 2069-04-25      | Variable      | 6.42%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                     | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175BM5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    346000 | PA      | $326023.98    | 0.50%             | 2038-04-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Summit Issuer, LLC                           | Summit Issuer LLC                                                               | CUSIP: 86613XAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    480000 | PA      | $472770.32    | 0.73%             | 2050-12-20      | Fixed         | 2.29%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | USD/EUR FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-4687.62     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | EUR/CHF FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $4401.43      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Flutter Entertainment Public Limited Company | FLUTTER FINANCING BV                                                            | CUSIP: 000000000<br>LEI: 635400VFWPBIKJK6GN11 | Long             | LON              | CORP              | NL        |    443200 | PA      | $442646.00    | 0.68%             | 2032-06-04      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| PILGRIM'S PRIDE CORP                         | Pilgrim's Pride Corp                                                            | CUSIP: 72147KAH1<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | DBT              | CORP              | US        |    225000 | PA      | $202657.44    | 0.31%             | 2032-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | EUR/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $4759.23      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| US CELLULAR CORP                             | United States Cellular Corp                                                     | CUSIP: 911684AD0<br>LEI: 549300B164AZXESI6E03 | Long             | DBT              | CORP              | US        |    260000 | PA      | $273517.30    | 0.42%             | 2033-12-15      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                 | Barclays PLC                                                                    | CUSIP: 06738ECZ6<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $408847.72    | 0.63%             | 2036-02-25      | Fixed         | 5.79%                 | No            |                  2 | On Loan: No      |
| GLOBAL ATLANTIC FIN CO                       | Global Atlantic Fin Co                                                          | CUSIP: 37959GAF4<br>LEI: 98450051B2E65CAA7E94 | Long             | DBT              | CORP              | US        |    169000 | PA      | $173241.53    | 0.27%             | 2054-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | USD/AUD FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-94578.62    | -0.15%            |  |  |  | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust               | Pagaya AI Debt Grantor Trust 2024-11                                            | CUSIP: 69544AAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    499943 | PA      | $501193.30    | 0.78%             | 2032-07-15      | Fixed         | 5.64%                 | No            |                  2 | On Loan: No      |
| REALTY INCOME CORP                           | Realty Income Corp                                                              | CUSIP: 756109CV4<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              | CORP              | US        |    154000 | PA      | $179419.25    | 0.28%             | 2035-06-20      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| VAR ENERGI ASA                               | Var Energi ASA                                                                  | CUSIP: 92212WAG5<br>LEI: 549300LIVN3FFOJN2K47 | Long             | DBT              | CORP              | NO        |    246000 | PA      | $254999.54    | 0.39%             | 2035-05-22      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| INTEL CORP                                   | Intel Corp                                                                      | CUSIP: 458140CJ7<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    149000 | PA      | $138533.70    | 0.21%             | 2053-02-10      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| AMERICAN NATIONAL GROUP                      | American National Group Inc                                                     | CUSIP: 025676AN7<br>LEI: 549300RK5RZQ740FPL83 | Long             | DBT              | CORP              | US        |    289000 | PA      | $296022.79    | 0.46%             | 2029-10-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Uniti Fiber ABS Issuer LLC                   | Uniti Fiber Abs Issuer Llc                                                      | CUSIP: 91326EAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    530000 | PA      | $540694.80    | 0.84%             | 2055-04-20      | Fixed         | 6.37%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                     | SWOP CDS CDX.NA.IG.44.V1                                                        | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DCR              | CORP              | US        | -32700000 | NC      | $-27795.00    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.  | US ULTRA BOND CBT                                                               | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        -7 | NC      | $-15542.24    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| SWCH Commercial Mortgage Trust               | SWCH Commercial Mortgage Trust 2025-DATA                                        | CUSIP: 78489CAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    590000 | PA      | $583116.90    | 0.90%             | 2042-02-15      | Floating      | 6.40%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | USD/MXN FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-950.89      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust               | Pagaya AI Debt Grantor Trust 2024-8                                             | CUSIP: 69544QAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    366193 | PA      | $366394.52    | 0.57%             | 2032-01-15      | Fixed         | 5.46%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | NOK/EUR FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $2073.00      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                  | Freddie Mac Pool                                                                | CUSIP: 3133KPSF6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    392138 | PA      | $376249.01    | 0.58%             | 2052-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BPCE SA                                      | BPCE SA                                                                         | CUSIP: 05571ABA2<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |    500000 | PA      | $524917.37    | 0.81%             | 2036-01-14      | Fixed         | 6.29%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating LLC         | CHARTER COMMUNICATIONS OPER                                                     | CUSIP: 16117LCB3<br>LEI: 549300TPZNMN50BJ3745 | Long             | LON              | CORP              | US        |    433400 | PA      | $433053.28    | 0.67%             | 2030-12-07      | Floating      | 6.30%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.  | U.S. TREASURY BOND                                                              | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        33 | NC      | $149748.65    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIZENS FINANCIAL GROUP                     | Citizens Financial Group Inc                                                    | CUSIP: 174610BH7<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |    450000 | PA      | $465978.36    | 0.72%             | 2032-07-23      | Fixed         | 5.72%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE                             | Societe Generale SA                                                             | CUSIP: 83368RAZ5<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    319000 | PA      | $314353.71    | 0.49%             | 2026-12-14      | Fixed         | 1.49%                 | No            |                  2 | On Loan: No      |
| JAPAN (30 YEAR ISSUE)                        | Japan Government Thirty Year Bond                                               | CUSIP: 000000000<br>LEI: 353800WZS8AXZXFUC241 | Long             | DBT              | NUSS              | JP        |  10000000 | PA      | $55510.47     | 0.09%             | 2054-03-20      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                         | Cross 2023-H2 Mortgage Trust                                                    | CUSIP: 22757NAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    352016 | PA      | $357082.27    | 0.55%             | 2068-11-25      | Variable      | 7.13%                 | No            |                  2 | On Loan: No      |
| CI FINANCIAL CORP                            | CI Financial Corp                                                               | CUSIP: 125491AT7<br>LEI: 549300M9W7JJQSVCEM78 | Long             | DBT              | CORP              | CA        |    330000 | PA      | $348354.66    | 0.54%             | 2029-05-30      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| RENTOKIL TERMINIX LLC                        | Rentokil Terminix Funding LLC                                                   | CUSIP: 760130AB0<br>LEI: 984500D5BAA7560EKJ44 | Long             | DBT              | CORP              | US        |    200000 | PA      | $202897.51    | 0.31%             | 2035-04-28      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG                             | Deutsche Bank AG                                                                | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    200000 | PA      | $242889.03    | 0.38%             | N/A             | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BGC GROUP INC                                | BGC Group Inc                                                                   | CUSIP: 088929AC8<br>LEI: 2549001IGRCG4F0RLD36 | Long             | DBT              | CORP              | US        |    274000 | PA      | $293059.28    | 0.45%             | 2028-05-25      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                      | Hyundai Capital America                                                         | CUSIP: 44891ADX2<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |    216000 | PA      | $218676.56    | 0.34%             | 2032-06-23      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                     | IRS GBP                                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DIR              | CORP              | US        |         1 | NC      | $452.48       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| JAPAN (30 YEAR ISSUE)                        | Japan Government Thirty Year Bond                                               | CUSIP: 000000000<br>LEI: 353800WZS8AXZXFUC241 | Long             | DBT              | NUSS              | JP        |  78650000 | PA      | $468972.87    | 0.73%             | 2054-09-20      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| AIRCASTLE LTD                                | Aircastle Ltd                                                                   | CUSIP: 00928QAU5<br>LEI: 549300PNK8AKY3OIKP58 | Long             | DBT              | CORP              | BM        |    173000 | PA      | $164726.90    | 0.25%             | 2028-01-26      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                    | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F030678<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1625000 | PA      | $1405647.75   | 2.17%             | 2055-07-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                     | JP Morgan Mortgage Trust 2025-VIS1                                              | CUSIP: 46659BAC6<br>LEI: 529900CBDGTUOOQONB64 | Long             | ABS-MBS          | CORP              | US        |    416763 | PA      | $418717.00    | 0.65%             | 2055-08-25      | Variable      | 5.49%                 | No            |                  2 | On Loan: No      |
| FMC CORP                                     | FMC Corp                                                                        | CUSIP: 302491AZ8<br>LEI: CKDHZ2X64EEBQCSP7013 | Long             | DBT              | CORP              | US        |    320000 | PA      | $328251.21    | 0.51%             | 2055-11-01      | Fixed         | 8.45%                 | No            |                  2 | On Loan: No      |
| APA CORP                                     | APA Corp                                                                        | CUSIP: 03743QAS7<br>LEI: 549300VCIWLRHYVSHC79 | Long             | DBT              | CORP              | US        |    262000 | PA      | $247963.63    | 0.38%             | 2055-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| COMMERZBANK AG                               | Commerzbank AG                                                                  | CUSIP: 000000000<br>LEI: 851WYGNLUQLFZBSYGB56 | Long             | DBT              | CORP              | DE        |    200000 | PA      | $261711.10    | 0.40%             | N/A             | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Setanta Aircraft Leasing DAC                 | SETANTA AIRCRAFT LEASING                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | IE        |    250000 | PA      | $251160.00    | 0.39%             | 2028-11-06      | Floating      | 6.05%                 | No            |                  2 | On Loan: No      |
| SANTOS FINANCE LTD                           | Santos Finance Ltd                                                              | CUSIP: 000000000<br>LEI: 213800BKUBSWG53XNS94 | Long             | DBT              | CORP              | AU        |     99000 | PA      | $92144.67     | 0.14%             | 2031-04-29      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| W P CAREY INC                                | WP Carey Inc                                                                    | CUSIP: 000000000<br>LEI: 54930042CRNE713E3Q67 | Long             | DBT              | CORP              | US        |    192000 | PA      | $219020.88    | 0.34%             | 2034-11-19      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| CBRE SERVICES INC                            | CBRE Services Inc                                                               | CUSIP: 12505BAK6<br>LEI: 549300CTE3HOMEUMM603 | Long             | DBT              | CORP              | US        |    388000 | PA      | $390692.70    | 0.60%             | 2035-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG                             | Deutsche Bank AG                                                                | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    200000 | PA      | $206382.23    | 0.32%             | N/A             | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| WHISTLER PIPELINE LLC                        | Whistler Pipeline LLC                                                           | CUSIP: 96337RAC6<br>LEI: 549300NG57SGLTNW5C85 | Long             | DBT              | CORP              | US        |    159000 | PA      | $161137.20    | 0.25%             | 2034-09-30      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                 | Broadcom Inc                                                                    | CUSIP: 11135FBV2<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    210000 | PA      | $203688.79    | 0.31%             | 2037-05-15      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT            | EURO-BOBL                                                                       | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |        -1 | NC      | $369.89       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                      | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GC44<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    297000 | PA      | $304601.78    | 0.47%             | 2036-01-28      | Fixed         | 5.54%                 | No            |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATION                     | Hess Midstream Operations LP                                                    | CUSIP: 428102AH0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $202967.61    | 0.31%             | 2028-03-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                   | Verus Securitization Trust 2023-INV2                                            | CUSIP: 92540BAC3<br>LEI: 213800D3C9UXVQ7TZF09 | Long             | ABS-MBS          | CORP              | US        |    332141 | PA      | $334274.26    | 0.52%             | 2068-08-25      | Variable      | 7.08%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | EUR/GBP FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $5001.80      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANCORP                          | Fifth Third Bancorp                                                             | CUSIP: 316773DL1<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |    178000 | PA      | $185240.59    | 0.29%             | 2032-01-29      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| ALTAGAS LTD                                  | AltaGas Ltd                                                                     | CUSIP: 021361AD2<br>LEI: 2549008X5V70MOS4HM10 | Long             | DBT              | CORP              | CA        |    221000 | PA      | $220776.76    | 0.34%             | 2054-10-15      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| REGIONS FINANCIAL CORP                       | Regions Financial Corp                                                          | CUSIP: 7591EPAV2<br>LEI: CW05CS5KW59QTC0DG824 | Long             | DBT              | CORP              | US        |    312000 | PA      | $312651.74    | 0.48%             | 2035-09-06      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | NOK/EUR FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-1885.49     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ASPEN INSURANCE HLDG LTD                     | Aspen Insurance Holdings Ltd                                                    | CUSIP: 04530DAE2<br>LEI: 549300YX6HECG9XQCQ75 | Long             | DBT              | CORP              | BM        |    319000 | PA      | $324304.56    | 0.50%             | 2030-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT            | EURO-BUND                                                                       | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |        -8 | NC      | $6879.12      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                     | IRS USD                                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DIR              | CORP              | US        |         1 | NC      | $31346.49     | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                           | Ally Financial Inc                                                              | CUSIP: 02005NBN9<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    350000 | PA      | $314276.61    | 0.49%             | N/A             | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Terex Corporation                            | TEREX CORP                                                                      | CUSIP: 88078FBM9<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | LON              | CORP              | US        |    498750 | PA      | $501193.88    | 0.78%             | 2031-10-08      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                     | OBX 2025-NQM3 Trust                                                             | CUSIP: 67448YAC8<br>LEI: 254900MBGY6CR10DAX67 | Long             | ABS-MBS          | CORP              | US        |    382722 | PA      | $384530.28    | 0.59%             | 2064-12-01      | Variable      | 5.65%                 | No            |                  2 | On Loan: No      |
| SOUTH BOW USA INFRA HLDS                     | South Bow USA Infrastructure Holdings LLC                                       | CUSIP: 83007CAG7<br>LEI: 254900Z1WAY7QFQ7O850 | Long             | DBT              | CORP              | US        |    205000 | PA      | $194850.30    | 0.30%             | 2054-10-01      | Fixed         | 6.18%                 | No            |                  2 | On Loan: No      |
| INTESA SANPAOLO SPA                          | Intesa Sanpaolo SpA                                                             | CUSIP: 46115HAW7<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |    384000 | PA      | $384613.25    | 0.59%             | 2026-01-15      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | JPY/EUR FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-102692.16   | -0.16%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | USD/JPY FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-8553.11     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | USD/GBP FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-16491.83    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                   | Verus Securitization Trust 2023-5                                               | CUSIP: 924934AB8<br>LEI: 984500BADC7CFE3B0756 | Long             | ABS-MBS          | CORP              | US        |    265406 | PA      | $266404.72    | 0.41%             | 2068-06-25      | Variable      | 6.76%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                     | OBX 2023-NQM10 Trust                                                            | CUSIP: 67449CAB7<br>LEI: 254900O44XNRXAW7W466 | Long             | ABS-MBS          | CORP              | US        |    281003 | PA      | $283902.92    | 0.44%             | 2063-10-25      | Variable      | 6.92%                 | No            |                  2 | On Loan: No      |
| Shackleton CLO LTD                           | Shackleton 2015-VII-R CLO Ltd                                                   | CUSIP: 81883AAY5<br>LEI: 549300NCJRO2LKFZ8G86 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $498150.00    | 0.77%             | 2031-07-15      | Floating      | 7.26%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                | Citigroup Inc                                                                   | CUSIP: 17327CBA0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    415000 | PA      | $418206.60    | 0.65%             | 2036-03-27      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| ZIONS BANCORP NA                             | Zions Bancorp NA                                                                | CUSIP: 98971DAC4<br>LEI: 8WH0EE09O9V05QJZ3V89 | Long             | DBT              | CORP              | US        |    250000 | PA      | $259850.25    | 0.40%             | 2035-11-19      | Fixed         | 6.82%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | JPY/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-48.77       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | EUR/NOK FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $213.87       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | GBP/EUR FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-28426.37    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| MACQUARIE AIRFINANCE HLD                     | Macquarie Airfinance Holdings Ltd                                               | CUSIP: 55609NAF5<br>LEI: 549300MCGUSL5B852H65 | Long             | DBT              | CORP              | GB        |    430000 | PA      | $434792.56    | 0.67%             | 2028-03-27      | Fixed         | 5.20%                 | 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        |        58 | NC      | $46768.13     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Pagaya AI Debt Selection Trust               | Pagaya AI Debt Grantor Trust 2024-8                                             | CUSIP: 69544QAD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    409932 | PA      | $411593.86    | 0.64%             | 2032-01-15      | Fixed         | 6.53%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANCORP                          | Fifth Third Bancorp                                                             | CUSIP: 316773CM0<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |    223000 | PA      | $224765.02    | 0.35%             | N/A             | Floating      | 7.59%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                     | IRS USD                                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DIR              | CORP              | US        |         1 | NC      | $28541.38     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                     | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175BY9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    223000 | PA      | $142843.09    | 0.22%             | 2061-04-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| ROYALTY PHARMA PLC                           | Royalty Pharma PLC                                                              | CUSIP: 78081BAS2<br>LEI: 549300FGFN7VOK8BZR03 | Long             | DBT              | CORP              | GB        |    140000 | PA      | $136104.88    | 0.21%             | 2054-09-02      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | USD/JPY FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $10025.16     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| ACHV ABS TRUST                               | ACHV ABS Trust 2024-3AL                                                         | CUSIP: 00092KAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    238674 | PA      | $240140.94    | 0.37%             | 2031-12-26      | Fixed         | 5.68%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                     | OBX 2023-NQM3 Trust                                                             | CUSIP: 67117PAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    330151 | PA      | $330231.71    | 0.51%             | 2063-02-25      | Variable      | 5.95%                 | No            |                  2 | On Loan: No      |
| PG&E CORP                                    | PG&E Corp                                                                       | CUSIP: 69331CAM0<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |    387000 | PA      | $367059.22    | 0.57%             | 2055-03-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust               | Pagaya AI Debt Grantor Trust 2024-6 And Pagaya AI Debt Trust 2024-6             | CUSIP: 69548KAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    252854 | PA      | $253669.47    | 0.39%             | 2031-11-15      | Fixed         | 6.59%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON BANCSHARES                        | Huntington Bancshares Inc/OH                                                    | CUSIP: 446150BF0<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |    176000 | PA      | $179622.16    | 0.28%             | 2039-11-18      | Fixed         | 6.14%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                    | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F020679<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3425000 | PA      | $2710469.65   | 4.19%             | 2055-07-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| ATHENE HOLDING LTD                           | Athene Holding Ltd                                                              | CUSIP: 04686JAL5<br>LEI: 549300H316CT32FQXI76 | Long             | DBT              | CORP              | US        |    181000 | PA      | $186049.89    | 0.29%             | 2055-05-19      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| CBOE FUTURES EXCHANGE, LLC                   | CBOE VIX                                                                        | CUSIP: 000000000<br>LEI: 254900O9GJPIWCP8RH13 | N/A              | DE               | CORP              | US        |        20 | NC      | $-20796.20    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Verus Securitization Trust                   | Verus Securitization Trust 2024-3                                               | CUSIP: 92540MAC9<br>LEI: 2138005NRONUFED1TZ38 | Long             | ABS-MBS          | CORP              | US        |    373345 | PA      | $377015.57    | 0.58%             | 2069-04-25      | Variable      | 6.84%                 | No            |                  2 | On Loan: No      |
| WHISTLER PIPELINE LLC                        | Whistler Pipeline LLC                                                           | CUSIP: 96337RAB8<br>LEI: 549300NG57SGLTNW5C85 | Long             | DBT              | CORP              | US        |    110000 | PA      | $112227.17    | 0.17%             | 2031-09-30      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                   | MFA 2020-NQM3 Trust                                                             | CUSIP: 552757AC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    155967 | PA      | $146568.72    | 0.23%             | 2065-01-26      | Variable      | 1.63%                 | No            |                  2 | On Loan: No      |
| FORTITUDE GROUP HOLDINGS                     | Fortitude Group Holdings LLC                                                    | CUSIP: 34966XAA6<br>LEI: 2549006R9ZUL08JFIH12 | Long             | DBT              | CORP              | US        |    230000 | PA      | $236751.61    | 0.37%             | 2030-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| DAVINCIRE HOLDINGS LTD                       | DaVinciRe Holdings Ltd                                                          | CUSIP: 23879AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    230000 | PA      | $228808.88    | 0.35%             | 2035-04-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | USD/GBP FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-20644.85    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| GCAT                                         | GCAT 2023-NQM2 Trust                                                            | CUSIP: 36169DAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    559183 | PA      | $559070.10    | 0.86%             | 2067-11-25      | Variable      | 6.60%                 | No            |                  2 | On Loan: No      |
| PHOENIX GRP HLD PLC                          | Phoenix Group Holdings PLC                                                      | CUSIP: 000000000<br>LEI: 2138001P49OLAEU33T68 | Long             | DBT              | CORP              | GB        |    201000 | PA      | $209754.90    | 0.32%             | N/A             | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                     | IRS JPY                                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DIR              | CORP              | US        |         1 | NC      | $2778.93      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.  | US 10YR NOTE (CBT)                                                              | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       -24 | NC      | $-36409.58    | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| UNITED KINGDOM GILT                          | United Kingdom Gilt                                                             | CUSIP: 000000000<br>LEI: ECTRVYYCEF89VWYS6K36 | Long             | DBT              | NUSS              | GB        |    500000 | PA      | $594784.19    | 0.92%             | 2054-07-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| INTEL CORP                                   | Intel Corp                                                                      | CUSIP: 458140BX7<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    283000 | PA      | $160533.87    | 0.25%             | 2061-08-12      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| SWCH Commercial Mortgage Trust               | SWCH Commercial Mortgage Trust 2025-DATA                                        | CUSIP: 78489CAD1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    590000 | PA      | $583138.96    | 0.90%             | 2042-02-15      | Floating      | 6.95%                 | No            |                  2 | On Loan: No      |
| INTEL CORP                                   | Intel Corp                                                                      | CUSIP: 458140CM0<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    210000 | PA      | $192411.88    | 0.30%             | 2054-02-21      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | USD/JPY FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-14960.18    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| AMAZON CONSERVATION DAC                      | Amazon Conservation DAC                                                         | CUSIP: 02315JAA2<br>LEI: 635400VMJ6EGNYN3YK31 | Long             | DBT              | NUSS              | IE        |    270000 | PA      | $269601.40    | 0.42%             | 2042-01-16      | Fixed         | 6.03%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                           | Banco Santander SA                                                              | CUSIP: 05964HBC8<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $201234.17    | 0.31%             | 2028-03-14      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| SITIOS LATINOAMERICA                         | Sitios Latinoamerica SAB de CV                                                  | CUSIP: 82983PAA1<br>LEI: 984500D2C0CDC0BFDD35 | Long             | DBT              | CORP              | MX        |    285000 | PA      | $290623.47    | 0.45%             | 2029-11-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CNO FINANCIAL GROUP INC                      | CNO Financial Group Inc                                                         | CUSIP: 12621EAM5<br>LEI: 11XPYHB76MPM4Y4P2897 | Long             | DBT              | CORP              | US        |    160000 | PA      | $167970.99    | 0.26%             | 2034-06-15      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae Pool                                                                 | CUSIP: 3140QQJN6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    519943 | PA      | $515193.17    | 0.80%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae Pool                                                                 | CUSIP: 3140QVYS7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    993795 | PA      | $998210.36    | 1.54%             | 2054-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| APA CORP                                     | APA Corp                                                                        | CUSIP: 03743QAQ1<br>LEI: 549300VCIWLRHYVSHC79 | Long             | DBT              | CORP              | US        |    184000 | PA      | $180062.59    | 0.28%             | 2035-02-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| Upstart Securitization Trust                 | Upstart Securitization Trust                                                    | CUSIP: 91684NAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    377124 | PA      | $377813.44    | 0.58%             | 2034-11-20      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus               | BRAVO Residential Funding Trust 2023-NQM5                                       | CUSIP: 10569UAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    169033 | PA      | $170288.71    | 0.26%             | 2063-06-25      | Variable      | 7.01%                 | No            |                  2 | On Loan: No      |
| MARS INC                                     | Mars Inc                                                                        | CUSIP: 571676AZ8<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |    250000 | PA      | $253343.23    | 0.39%             | 2032-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                            | HERC HOLDINGS INC                                                               | CUSIP: 000000000<br>LEI: 549300TP80QLITMSBP82 | Long             | LON              | CORP              | US        |     88800 | PA      | $89059.30     | 0.14%             | 2032-06-02      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | CHF/EUR FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-6209.48     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | USD/JPY FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $565.01       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LPL HOLDINGS INC                             | LPL Holdings Inc                                                                | CUSIP: 50212YAQ7<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |    337000 | PA      | $340787.37    | 0.53%             | 2035-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | AUD/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $10020.93     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Tricolor Auto Securitization T               | Tricolor Auto Securitization Trust 2024-3                                       | CUSIP: 89617AAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $507978.52    | 0.79%             | 2029-04-16      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | USD/GBP FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-61877.29    | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | CAD/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $21403.29     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | EUR/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $41680.62     | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | EUR/JPY FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-8.29        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BIOGEN INC                                   | Biogen Inc                                                                      | CUSIP: 09062XAL7<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | DBT              | CORP              | US        |    176000 | PA      | $180936.46    | 0.28%             | 2035-05-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| INTESA SANPAOLO SPA                          | Intesa Sanpaolo SpA                                                             | CUSIP: 000000000<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |    200000 | PA      | $252421.27    | 0.39%             | N/A             | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | MXN/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $3104.40      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CITIZENS FINANCIAL GROUP                     | Citizens Financial Group Inc                                                    | CUSIP: 174610AU9<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |    203000 | PA      | $202885.05    | 0.31%             | N/A             | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| HA SUSTAINABLE INF CAP                       | HA Sustainable Infrastructure Capital Inc                                       | CUSIP: 40408AAB7<br>LEI: 254900ZZRL7MWL1X8E92 | Long             | DBT              | CORP              | US        |    441000 | PA      | $449054.38    | 0.69%             | 2035-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ESSENT GROUP LTD                             | Essent Group Ltd                                                                | CUSIP: 29669JAA7<br>LEI: 254900QUO860OUT6ZF83 | Long             | DBT              | CORP              | BM        |    295000 | PA      | $305514.36    | 0.47%             | 2029-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Affirm Inc                                   | Affirm Asset Securitization Trust 2024-X2                                       | CUSIP: 00833QAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    150000 | PA      | $150431.85    | 0.23%             | 2029-12-17      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE                             | Societe Generale SA                                                             | CUSIP: 83370RAE8<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    210000 | PA      | $213556.84    | 0.33%             | N/A             | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| ACHV ABS TRUST                               | ACHV ABS Trust 2024-3AL                                                         | CUSIP: 00092KAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    144386 | PA      | $144923.08    | 0.22%             | 2031-12-26      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                         | Bank of America Corp                                                            | CUSIP: 06051GMQ9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    154000 | PA      | $156439.33    | 0.24%             | 2036-02-12      | Fixed         | 5.74%                 | No            |                  2 | On Loan: No      |
| KEYCORP                                      | KeyCorp                                                                         | CUSIP: 49326EEP4<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | DBT              | CORP              | US        |    352000 | PA      | $375483.18    | 0.58%             | 2035-03-06      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                     | IRS JPY                                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DIR              | CORP              | US        |         1 | NC      | $-1576.28     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ATLAS WAREHOUSE LEND                         | Atlas Warehouse Lending Co LP                                                   | CUSIP: 049463AD4<br>LEI: 25490068J12A1HV7YM70 | Long             | DBT              | CORP              | US        |    470000 | PA      | $476075.34    | 0.74%             | 2028-01-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                       | General Motors Financial Co Inc                                                 | CUSIP: 37045XFK7<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    259000 | PA      | $264538.68    | 0.41%             | 2035-07-15      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| JAPAN (40 YEAR ISSUE)                        | Japan Government Forty Year Bond                                                | CUSIP: 000000000<br>LEI: 353800WZS8AXZXFUC241 | Long             | DBT              | NUSS              | JP        | 301050000 | PA      | $996619.70    | 1.54%             | 2060-03-20      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| NEXA RESOURCES SA                            | Nexa Resources SA                                                               | CUSIP: 65290DAC7<br>LEI: 549300QRMRHM7GAU7L47 | Long             | DBT              | CORP              | LU        |    201000 | PA      | $202190.90    | 0.31%             | 2037-04-08      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                             | Deutsche Bank AG/New York NY                                                    | CUSIP: 251526DA4<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    313000 | PA      | $317904.15    | 0.49%             | 2031-05-09      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                     | Ford Motor Credit Co LLC                                                        | CUSIP: 345397G80<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    310000 | PA      | $305699.11    | 0.47%             | 2028-03-20      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| AUSTRALIAN GOVERNMENT                        | Australia Government Bond                                                       | CUSIP: 000000000<br>LEI: 213800J6B7JSBDETCB42 | Long             | DBT              | NUSS              | AU        |    952000 | PA      | $341448.27    | 0.53%             | 2051-06-21      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                   | Fannie Mae Pool                                                                 | CUSIP: 3140LXFM2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    850358 | PA      | $792702.77    | 1.23%             | 2052-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                 | CSMC 2020-SPT1 Trust                                                            | CUSIP: 12659LAB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     21710 | PA      | $21709.91     | 0.03%             | 2065-04-25      | Variable      | 3.23%                 | No            |                  2 | On Loan: No      |
| AUSTRALIAN GOVERNMENT                        | Australia Government Bond                                                       | CUSIP: 000000000<br>LEI: 213800J6B7JSBDETCB42 | Long             | DBT              | NUSS              | AU        |    578000 | PA      | $375491.04    | 0.58%             | 2054-06-21      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | AUD/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $53511.89     | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                       | General Motors Financial Co Inc                                                 | CUSIP: 37045XCA2<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    340000 | PA      | $335357.02    | 0.52%             | N/A             | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | USD/JPY FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $1048.36      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FIRST CITIZENS BANCSHARE                     | First Citizens BancShares Inc/NC                                                | CUSIP: 31959XAF0<br>LEI: 549300N3Z00ZHE2XC526 | Long             | DBT              | CORP              | US        |    380000 | PA      | $379238.47    | 0.59%             | 2040-03-12      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BW REAL ESTATE INC                           | BW Real Estate Inc                                                              | CUSIP: 05614HAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    410000 | PA      | $418998.71    | 0.65%             | N/A             | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | USD/EUR FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-109262.29   | -0.17%            |  |  |  | No            |                  2 | On Loan: No      |
| F&G ANNUITIES & LIFE INC                     | F&G Annuities & Life Inc                                                        | CUSIP: 30190AAC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    209000 | PA      | $219221.77    | 0.34%             | 2028-01-13      | Fixed         | 7.40%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | USD/JPY FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $4760.32      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| NISSAN MOTOR ACCEPTANCE                      | Nissan Motor Acceptance Co LLC                                                  | CUSIP: 65480CAJ4<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |    190000 | PA      | $187166.06    | 0.29%             | 2027-09-13      | Floating      | 6.35%                 | No            |                  2 | On Loan: No      |
| OSAKA EXCHANGE,INC                           | JAPAN 10Y BOND(OSE)                                                             | CUSIP: 000000000<br>LEI: 3538001249AILNPRUX57 | N/A              | DIR              | CORP              | JP        |        -6 | NC      | $-26694.91    | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| DENTSPLY SIRONA INC                          | DENTSPLY SIRONA Inc                                                             | CUSIP: 24906PAB5<br>LEI: 9NHEHR1SOZCYXDO8HO28 | Long             | DBT              | CORP              | US        |    284000 | PA      | $285501.44    | 0.44%             | 2055-09-12      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                   | Verus Securitization Trust 2023-4                                               | CUSIP: 92539TAA1<br>LEI: 2138008DC17PCNG48R87 | Long             | ABS-MBS          | CORP              | US        |    269441 | PA      | $269376.85    | 0.42%             | 2068-05-25      | Variable      | 5.81%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | JPY/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $5048.91      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD                     | Avolon Holdings Funding Ltd                                                     | CUSIP: 05401AAJ0<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |    163000 | PA      | $158905.10    | 0.25%             | 2027-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED PLC                       | Standard Chartered PLC                                                          | CUSIP: 85325C2E1<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $211806.42    | 0.33%             | 2036-01-21      | Fixed         | 6.23%                 | No            |                  2 | On Loan: No      |
| HCA INC                                      | HCA Inc                                                                         | CUSIP: 404119DC0<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    212000 | PA      | $213405.74    | 0.33%             | 2055-03-01      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| Citadel Securities LP                        | CITADEL SECURITIES LP                                                           | CUSIP: 17288YAN2<br>LEI: 549300NV5RXBUS3X7L47 | Long             | LON              | CORP              | US        |    434906 | PA      | $436484.99    | 0.68%             | 2031-10-31      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                     | Occidental Petroleum Corp                                                       | CUSIP: 674599DF9<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    165000 | PA      | $168933.33    | 0.26%             | 2036-09-15      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| FOUNDRY JV HOLDCO LLC                        | Foundry JV Holdco LLC                                                           | CUSIP: 350930AK9<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |    434000 | PA      | $454134.79    | 0.70%             | 2039-01-25      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| NORTHWEST NATURAL HOLDI                      | Northwest Natural Holding Co                                                    | CUSIP: 66765NAA3<br>LEI: 254900PSJL6ZEC8FR782 | Long             | DBT              | CORP              | US        |    260000 | PA      | $262873.47    | 0.41%             | 2055-09-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR CO                              | Nissan Motor Co Ltd                                                             | CUSIP: 654744AD3<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | JP        |    336000 | PA      | $306511.17    | 0.47%             | 2030-09-17      | Fixed         | 4.81%                 | No            |                  2 | On Loan: No      |
| F&G ANNUITIES & LIFE INC                     | F&G Annuities & Life Inc                                                        | CUSIP: 30190AAG9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    304000 | PA      | $301964.42    | 0.47%             | 2034-10-04      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                           | Energy Transfer LP                                                              | CUSIP: 29273RBA6<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    262000 | PA      | $260573.57    | 0.40%             | 2066-11-01      | Floating      | 7.56%                 | No            |                  2 | On Loan: No      |
| FOUNDRY JV HOLDCO LLC                        | Foundry JV Holdco LLC                                                           | CUSIP: 350930AJ2<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |    257000 | PA      | $267054.23    | 0.41%             | 2037-01-25      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | USD/MXN FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-11984.68    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                     | HILTON DOMESTIC OPERATING CO INC                                                | CUSIP: 43289DAK9<br>LEI: 5493003EG7H0N1E4XV50 | Long             | LON              | CORP              | US        |    400000 | PA      | $401188.00    | 0.62%             | 2030-11-08      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| Zayo Issuer LLC                              | Zayo Issuer LLC                                                                 | CUSIP: 98919WAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | PA      | $303707.56    | 0.47%             | 2055-03-20      | Fixed         | 6.09%                 | No            |                  2 | On Loan: No      |
| Switch ABS Issuer, LLC                       | Switch ABS Issuer LLC                                                           | CUSIP: 871044AG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    310000 | PA      | $313419.14    | 0.48%             | 2054-06-25      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                       | General Motors Financial Co Inc                                                 | CUSIP: 37045XFE1<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    685000 | PA      | $690249.03    | 1.07%             | 2028-04-04      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                   | Verus Securitization Trust 2024-8                                               | CUSIP: 92540PAB4<br>LEI: 213800RZ8QGNZ38DSP77 | Long             | ABS-MBS          | CORP              | US        |    444245 | PA      | $444163.84    | 0.69%             | 2069-10-25      | Variable      | 5.62%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | EUR/JPY FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $78481.47     | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                    | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F060675<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1200000 | PA      | $1219596.00   | 1.89%             | 2055-07-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PLAINS ALL AMERICAN PIPE                     | Plains All American Pipeline LP                                                 | CUSIP: 726503AE5<br>LEI: 5521FA2ITF25TVH63740 | Long             | DBT              | CORP              | US        |    480000 | PA      | $480565.07    | 0.74%             | N/A             | Floating      | 8.70%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | USD/EUR FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-66361.93    | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER                     | Enterprise Products Operating LLC                                               | CUSIP: 29379VBM4<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |    198000 | PA      | $197861.52    | 0.31%             | 2077-08-16      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| BELROSE FUNDING TRUST II                     | Belrose Funding Trust II                                                        | CUSIP: 08079KAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    334000 | PA      | $341092.35    | 0.53%             | 2055-05-15      | Fixed         | 6.79%                 | No            |                  2 | On Loan: No      |
| BGC GROUP INC                                | BGC Group Inc                                                                   | CUSIP: 05555LAB7<br>LEI: 2549001IGRCG4F0RLD36 | Long             | DBT              | CORP              | US        |    260000 | PA      | $269429.64    | 0.42%             | 2029-06-10      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                     | IRS JPY                                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DIR              | CORP              | US        |         1 | NC      | $-25517.76    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                     | OBX 2023-NQM6 Trust                                                             | CUSIP: 67117VAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    285279 | PA      | $286698.49    | 0.44%             | 2063-07-25      | Variable      | 6.97%                 | No            |                  2 | On Loan: No      |
| Hilcorp Energy I LP                          | HILCORP ENERGY I LP                                                             | CUSIP: 431319AH5<br>LEI: 549300ITPIHLG0LHEC09 | Long             | LON              | CORP              | US        |    413962 | PA      | $413962.50    | 0.64%             | 2030-02-05      | Floating      | 6.31%                 | No            |                  2 | On Loan: No      |
| FIRST AMERICAN FINANCIAL                     | First American Financial Corp                                                   | CUSIP: 31847RAJ1<br>LEI: 549300B6VEZK3N0A1P55 | Long             | DBT              | CORP              | US        |    170000 | PA      | $167036.13    | 0.26%             | 2034-09-30      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                     | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175BN3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    190000 | PA      | $172889.07    | 0.27%             | 2048-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                        | Truist Financial Corp                                                           | CUSIP: 89788MAS1<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    200000 | PA      | $207236.72    | 0.32%             | 2035-01-24      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | USD/AUD FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-16366.76    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION               | USD/EUR FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-34065.35    | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-25

**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.