# EDGAR Filing Document

**Accession Number:** 0001272950
**File Stem:** 0001752724-25-202215
**Filing Date:** 2025-8
**Character Count:** 89849
**Document Hash:** 635cba216d5a31a51b09068cf3b8133e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-202215.hdr.sgml**: 20250825

**ACCESSION NUMBER**: 0001752724-25-202215

**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**: 20260331

**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:** 251250304

**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 Ultra-Short Fixed Income Fund (Series ID: S000043719)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000135577 | Class I      | RUSIX           |
| C000138516 | Class A      | RULFX           |

## Nport-Ex

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Ultra-Short Fixed Income Fund

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| **Corporate Bonds — 43.6%** | **Corporate Bonds — 43.6%** |  |
| **Communications — 1.1%** | **Communications — 1.1%** |  |
| $1000000 | T-Mobile USA, Inc., 2.25%, 2/15/26 | &nbsp;&nbsp;&nbsp;$984815 |
| **Consumer, Cyclical — 5.8%** | **Consumer, Cyclical — 5.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;400000 | American Honda Finance Corp., (SOFR RATE + 0.720%), GMTN, 5.07%, 10/22/27(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;399658 |
| &nbsp;&nbsp;&nbsp;&nbsp;290000 | BMW US Capital LLC, 4.65%, 8/13/26(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;291045 |
| &nbsp;&nbsp;&nbsp;&nbsp;150000 | Daimler Truck Finance North America LLC, 5.13%, 9/25/27(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152130 |
| &nbsp;&nbsp;&nbsp;&nbsp;865000 | General Motors Financial Co., Inc., (SOFR RATE + 1.040%), 5.42%, 2/26/27(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;862797 |
| &nbsp;&nbsp;&nbsp;&nbsp;655000 | Hyundai Capital America, 4.88%, 6/23/27(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;658717 |
| &nbsp;&nbsp;&nbsp;&nbsp;300000 | Hyundai Capital America, 5.30%, 3/19/27(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303365 |
| &nbsp;&nbsp;1000000 | Hyundai Capital America, (SOFR RATE + 1.120%), 5.53%, 6/23/27(a),(b) | &nbsp;&nbsp;&nbsp;1000911 |
| &nbsp;&nbsp;&nbsp;&nbsp;500000 | Toyota Motor Credit Corp., GMTN, 4.55%, 8/7/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501783 |
| &nbsp;&nbsp;&nbsp;&nbsp;450000 | Volkswagen Group of America Finance LLC, 4.90%, 8/14/26(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450855 |
| &nbsp;&nbsp;&nbsp;&nbsp;425000 | Volkswagen Group of America Finance LLC, 5.40%, 3/20/26(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;426641 |
|  |  | &nbsp;&nbsp;&nbsp;5047902 |
| **Consumer, Non-cyclical — 3.3%** | **Consumer, Non-cyclical — 3.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;485000 | HCA, Inc., 5.00%, 3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;491969 |
| &nbsp;&nbsp;&nbsp;&nbsp;500000 | HCA, Inc., 5.38%, 9/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;502614 |
| &nbsp;&nbsp;&nbsp;&nbsp;750000 | Kroger Co. (The), 2.65%, 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;734895 |
| &nbsp;&nbsp;&nbsp;&nbsp;860000 | Mars, Inc., 4.45%, 3/1/27(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;863576 |
| &nbsp;&nbsp;&nbsp;&nbsp;320000 | Solventum Corp., 5.45%, 2/25/27(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;324384 |
|  |  | &nbsp;&nbsp;&nbsp;2917438 |
| **Financial — 28.9%** | **Financial — 28.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;750000 | AerCap Ireland Capital DAC / AerCap Global Aviation Trust, 2.45%, 10/29/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;730726 |
| &nbsp;&nbsp;1000000 | Athene Global Funding, 2.95%, 11/12/26(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;979601 |
| &nbsp;&nbsp;1500000 | Bank of America Corp., 5.08%, 1/20/27(c) | &nbsp;&nbsp;&nbsp;1504383 |
| &nbsp;&nbsp;&nbsp;&nbsp;500000 | Barclays Plc, 5.30%, 8/9/26(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500241 |
| &nbsp;&nbsp;1305000 | Charles Schwab Corp. (The), (SOFR Index + 1.050%), 5.44%, 3/3/27(a) | &nbsp;&nbsp;&nbsp;1314041 |
| &nbsp;&nbsp;1000000 | Citigroup, Inc., 1.46%, 6/9/27(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;971729 |
| &nbsp;&nbsp;1000000 | Citigroup, Inc., (SOFR RATE + 0.770%), 5.16%, 6/9/27(a) | &nbsp;&nbsp;&nbsp;1000623 |
| &nbsp;&nbsp;&nbsp;&nbsp;750000 | Citizens Bank NA, 3.75%, 2/18/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;745372 |
| &nbsp;&nbsp;&nbsp;&nbsp;110000 | Comerica, Inc., 5.98%, 1/30/30(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112653 |
| &nbsp;&nbsp;&nbsp;&nbsp;360000 | Credit Agricole SA, 1.25%, 1/26/27(b),(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;353168 |
| &nbsp;&nbsp;&nbsp;&nbsp;430000 | Deutsche Bank AG, 5.71%, 2/8/28(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;437197 |
| &nbsp;&nbsp;&nbsp;&nbsp;750000 | Goldman Sachs Group, Inc. (The), Series VAR, 1.09%, 12/9/26(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;738374 |
| &nbsp;&nbsp;&nbsp;&nbsp;900000 | Goldman Sachs Group, Inc. (The), 4.94%, 4/23/28(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;907467 |
| &nbsp;&nbsp;&nbsp;&nbsp;550000 | Goldman Sachs Group, Inc. (The), 5.80%, 8/10/26(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550699 |
| &nbsp;&nbsp;1000000 | HSBC Holdings Plc, 1.59%, 5/24/27(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;973484 |
| &nbsp;&nbsp;&nbsp;&nbsp;500000 | HSBC Holdings Plc, 4.29%, 9/12/26(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;499541 |
| &nbsp;&nbsp;&nbsp;&nbsp;900000 | HSBC Holdings Plc, 5.60%, 5/17/28(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;917208 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Ultra-Short Fixed Income Fund (cont.)

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| $1000000 | JPMorgan Chase & Co., 1.04%, 2/4/27(c) | &nbsp;&nbsp;&nbsp;&nbsp;$979398 |
| &nbsp;&nbsp;&nbsp;&nbsp;150000 | JPMorgan Chase & Co., 5.04%, 1/23/28(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151610 |
| &nbsp;&nbsp;&nbsp;&nbsp;575000 | KeyBank NA, 4.15%, 8/8/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;574210 |
| &nbsp;&nbsp;1000000 | Lloyds Banking Group Plc, 4.72%, 8/11/26(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;999896 |
| &nbsp;&nbsp;&nbsp;&nbsp;575000 | Manufacturers & Traders Trust Co., 4.65%, 1/27/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;574757 |
| &nbsp;&nbsp;&nbsp;&nbsp;515000 | Met Tower Global Funding, 4.00%, 10/1/27(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;512220 |
| &nbsp;&nbsp;1000000 | Morgan Stanley, 1.59%, 5/4/27(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;975926 |
| &nbsp;&nbsp;&nbsp;&nbsp;500000 | Morgan Stanley, 5.05%, 1/28/27(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501454 |
| &nbsp;&nbsp;&nbsp;&nbsp;475000 | New York Life Global Funding, 3.90%, 10/1/27(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;472150 |
| &nbsp;&nbsp;&nbsp;&nbsp;775000 | Nomura Holdings, Inc., 5.10%, 7/3/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775000 |
| &nbsp;&nbsp;&nbsp;&nbsp;540000 | PNC Bank NA, 4.54%, 5/13/27(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540425 |
| &nbsp;&nbsp;&nbsp;&nbsp;750000 | Realty Income Corp., REIT, 4.45%, 9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;751688 |
| &nbsp;&nbsp;&nbsp;&nbsp;900000 | Toronto-Dominion Bank (The), (SOFR RATE + 0.910%), GMTN, 5.30%, 6/2/28(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;901845 |
| &nbsp;&nbsp;1000000 | UBS Group AG, 4.70%, 8/5/27(b),(c) | &nbsp;&nbsp;&nbsp;&nbsp;1001800 |
| &nbsp;&nbsp;1000000 | Wells Fargo & Co., MTN, 3.20%, 6/17/27(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;987946 |
| &nbsp;&nbsp;1170000 | Wells Fargo & Co., GMTN, 3.53%, 3/24/28(c) | &nbsp;&nbsp;&nbsp;&nbsp;1154525 |
|  |  | &nbsp;&nbsp;&nbsp;25091357 |
| **Technology — 0.8%** | **Technology — 0.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;500000 | Synopsys, Inc., 4.55%, 4/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;502537 |
| &nbsp;&nbsp;&nbsp;&nbsp;155000 | Western Digital Corp., 4.75%, 2/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154619 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;657156 |
| **Utilities — 3.7%** | **Utilities — 3.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;285000 | Consolidated Edison Co. of New York, Inc., (SOFR Index + 0.520%), 4.89%, 11/18/27(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;284610 |
| &nbsp;&nbsp;1000000 | Duke Energy Corp., 2.65%, 9/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;981280 |
| &nbsp;&nbsp;&nbsp;&nbsp;570000 | Georgia Power Co., (SOFR Index + 0.280%), 4.68%, 9/15/26(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;568812 |
| &nbsp;&nbsp;&nbsp;&nbsp;400000 | NextEra Energy Capital Holdings, Inc., 4.85%, 2/4/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405623 |
| &nbsp;&nbsp;1000000 | NextEra Energy Capital Holdings, Inc., 4.95%, 1/29/26 | &nbsp;&nbsp;&nbsp;&nbsp;1002231 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;3242556 |
| **Total Corporate Bonds** | **Total Corporate Bonds** | &nbsp;&nbsp;&nbsp;**37941224** |
| (Cost $37,841,405) | (Cost $37,841,405) |  |
| **Asset Backed Securities — 34.7%** | **Asset Backed Securities — 34.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;135234 | ACM Auto Trust, Series 2024-2A, Class A, 6.06%, 2/20/29(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135435 |
| &nbsp;&nbsp;&nbsp;&nbsp;125000 | Affirm Asset Securitization Trust, Series 2024-X2, Class C, 5.62%, 12/17/29(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125360 |
| &nbsp;&nbsp;&nbsp;&nbsp;815000 | Ally Auto Receivables Trust, Series 2023-A, Class C, 6.08%, 1/17/34(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;826315 |
| &nbsp;&nbsp;&nbsp;&nbsp;259091 | AmeriCredit Automobile Receivables Trust, Series 2023-2, Class A2, 6.19%, 4/19/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;259512 |
| &nbsp;&nbsp;&nbsp;&nbsp;388001 | Amur Equipment Finance Receivables X LLC, Series 2022-1A, Class B, 2.20%, 1/20/28(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;386408 |
| &nbsp;&nbsp;&nbsp;&nbsp;825000 | Amur Equipment Finance Receivables XI LLC, Series 2022-2A, Class C, 6.27%, 1/22/29(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;835243 |
| &nbsp;&nbsp;&nbsp;&nbsp;500000 | ARI Fleet Lease Trust, Series 2023-A, Class C, 6.03%, 2/17/32(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;508485 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Ultra-Short Fixed Income Fund (cont.)

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| $375000 | ARI Fleet Lease Trust, Series 2025-A, Class A2, 4.38%, 1/17/34(b) | $375308 |
| &nbsp;&nbsp;250000 | Avis Budget Rental Car Funding AESOP LLC, Series 2020-1A, Class B, 2.68%, 8/20/26(b) | &nbsp;&nbsp;&nbsp;249475 |
| &nbsp;&nbsp;875000 | Carmax Auto Owner Trust, Series 2021-4, Class D, 1.48%, 3/15/28 | &nbsp;&nbsp;&nbsp;857082 |
| &nbsp;&nbsp;&nbsp;&nbsp;88330 | Carmax Auto Owner Trust, Series 2022-2, Class A3, 3.49%, 2/16/27 | &nbsp;&nbsp;&nbsp;&nbsp;88080 |
| &nbsp;&nbsp;245373 | Carmax Auto Owner Trust, Series 2022-4, Class A3, 5.34%, 8/16/27 | &nbsp;&nbsp;&nbsp;246075 |
| &nbsp;&nbsp;&nbsp;&nbsp;30406 | CarMax Auto Owner Trust, Series 2022-1, Class A3, 1.47%, 12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;30242 |
| &nbsp;&nbsp;255000 | CarMax Auto Owner Trust, Series 2022-1, Class D, 2.47%, 7/17/28 | &nbsp;&nbsp;&nbsp;249638 |
| &nbsp;&nbsp;200000 | Carmax Select Receivables Trust, Series 2024-A, Class A3, 5.40%, 11/15/28 | &nbsp;&nbsp;&nbsp;202158 |
| &nbsp;&nbsp;210365 | Carvana Auto Receivables Trust, Series 2023-N3, Class A, 6.41%, 9/10/27(b) | &nbsp;&nbsp;&nbsp;210696 |
| &nbsp;&nbsp;355000 | Daimler Trucks Retail Trust, Series 2022-1, Class A4, 5.39%, 1/15/30 | &nbsp;&nbsp;&nbsp;355578 |
| &nbsp;&nbsp;500000 | Dell Equipment Finance Trust, Series 2023-2, Class D, 6.74%, 7/23/29(b) | &nbsp;&nbsp;&nbsp;504650 |
| &nbsp;&nbsp;&nbsp;&nbsp;78627 | Dell Equipment Finance Trust, Series 2024-1, Class A2, 5.58%, 3/22/30(b) | &nbsp;&nbsp;&nbsp;&nbsp;78788 |
| &nbsp;&nbsp;&nbsp;&nbsp;40220 | DLLAA LLC, Series 2023-1A, Class A2, 5.93%, 7/20/26(b) | &nbsp;&nbsp;&nbsp;&nbsp;40263 |
| &nbsp;&nbsp;&nbsp;&nbsp;18951 | DLLAD LLC, Series 2021-1A, Class A3, 0.64%, 9/21/26(b) | &nbsp;&nbsp;&nbsp;&nbsp;18884 |
| &nbsp;&nbsp;624248 | DLLMT LLC, Series 2024-1A, Class A2, 5.08%, 2/22/27(b) | &nbsp;&nbsp;&nbsp;625382 |
| &nbsp;&nbsp;334022 | DT Auto Owner Trust, Series 2022-3A, Class C, 7.69%, 7/17/28(b) | &nbsp;&nbsp;&nbsp;336250 |
| &nbsp;&nbsp;831871 | Exeter Automobile Receivables Trust, Series 2021-3A, Class D, 1.55%, 6/15/27 | &nbsp;&nbsp;&nbsp;817645 |
| &nbsp;&nbsp;318933 | Exeter Automobile Receivables Trust, Series 2022-1A, Class D, 3.02%, 6/15/28 | &nbsp;&nbsp;&nbsp;315909 |
| &nbsp;&nbsp;119253 | Exeter Automobile Receivables Trust, Series 2022-4A, Class C, 4.92%, 12/15/28 | &nbsp;&nbsp;&nbsp;119266 |
| &nbsp;&nbsp;282907 | Exeter Automobile Receivables Trust, Series 2022-6A, Class C, 6.32%, 5/15/28 | &nbsp;&nbsp;&nbsp;284278 |
| &nbsp;&nbsp;750000 | Exeter Automobile Receivables Trust, Series 2023-2A, Class D, 6.32%, 8/15/29 | &nbsp;&nbsp;&nbsp;763314 |
| &nbsp;&nbsp;250000 | Exeter Automobile Receivables Trust, Series 2024-3A, Class B, 5.57%, 9/15/28 | &nbsp;&nbsp;&nbsp;251484 |
| &nbsp;&nbsp;400000 | Exeter Automobile Receivables Trust, Series 2024-4A, Class C, 5.48%, 8/15/30 | &nbsp;&nbsp;&nbsp;404030 |
| &nbsp;&nbsp;170000 | Exeter Automobile Receivables Trust, Series 2024-5A, Class B, 4.48%, 4/16/29 | &nbsp;&nbsp;&nbsp;169768 |
| &nbsp;&nbsp;330000 | Ford Credit Auto Owner Trust, Series 2021-1, Class B, 1.61%, 10/17/33(b) | &nbsp;&nbsp;&nbsp;321729 |
| &nbsp;&nbsp;215000 | Ford Credit Auto Owner Trust, Series 2022-A, Class C, 2.14%, 7/15/29 | &nbsp;&nbsp;&nbsp;212427 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Ultra-Short Fixed Income Fund (cont.)

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| $490000 | Ford Credit Floorplan Master Owner Trust A, Series 2020-2, Class B, 1.32%, 9/15/27 | $486198 |
| &nbsp;&nbsp;535000 | Ford Credit Floorplan Master Owner Trust A, Series 2020-2, Class C, 1.87%, 9/15/27 | &nbsp;&nbsp;&nbsp;528409 |
| &nbsp;&nbsp;324591 | GM Financial Automobile Leasing Trust, Series 2023-1, Class B, 5.51%, 1/20/27 | &nbsp;&nbsp;&nbsp;324680 |
| &nbsp;&nbsp;500000 | GM Financial Automobile Leasing Trust, Series 2023-1, Class C, 5.76%, 1/20/27 | &nbsp;&nbsp;&nbsp;500170 |
| &nbsp;&nbsp;750000 | GM Financial Automobile Leasing Trust, Series 2023-2, Class A4, 5.09%, 5/20/27 | &nbsp;&nbsp;&nbsp;750628 |
| &nbsp;&nbsp;320913 | GM Financial Consumer Automobile Receivables Trust, Series 2023-1, Class A3, 4.66%, 2/16/28 | &nbsp;&nbsp;&nbsp;321091 |
| &nbsp;&nbsp;600000 | GMF Floorplan Owner Revolving Trust, Series 2024-3A, Class B, 4.92%, 11/15/28(b) | &nbsp;&nbsp;&nbsp;602737 |
| &nbsp;&nbsp;290000 | Honda Auto Receivables Owner Trust, Series 2022-1, Class A4, 2.04%, 12/15/28 | &nbsp;&nbsp;&nbsp;288494 |
| &nbsp;&nbsp;650000 | Honda Auto Receivables Owner Trust, Series 2022-2, Class A4, 3.76%, 12/18/28 | &nbsp;&nbsp;&nbsp;647270 |
| &nbsp;&nbsp;439055 | Hpefs Equipment Trust, Series 2022-3A, Class C, 6.13%, 8/20/29(b) | &nbsp;&nbsp;&nbsp;439497 |
| &nbsp;&nbsp;&nbsp;&nbsp;83596 | HPEFS Equipment Trust, Series 2022-1A, Class D, 2.40%, 11/20/29(b) | &nbsp;&nbsp;&nbsp;&nbsp;83457 |
| &nbsp;&nbsp;207809 | HPEFS Equipment Trust, Series 2023-1A, Class A3, 5.41%, 2/22/28(b) | &nbsp;&nbsp;&nbsp;207896 |
| &nbsp;&nbsp;&nbsp;&nbsp;88492 | HPEFS Equipment Trust, Series 2024-1A, Class A2, 5.38%, 5/20/31(b) | &nbsp;&nbsp;&nbsp;&nbsp;88533 |
| &nbsp;&nbsp;600000 | Hyundai Auto Lease Securitization Trust, Series 2024-B, Class B, 5.56%, 8/15/28(b) | &nbsp;&nbsp;&nbsp;607563 |
| &nbsp;&nbsp;700000 | Hyundai Auto Receivables Trust, Series 2021-A, Class C, 1.33%, 11/15/27 | &nbsp;&nbsp;&nbsp;697383 |
| &nbsp;&nbsp;168494 | Kubota Credit Owner Trust, Series 2022-1A, Class A3, 2.67%, 10/15/26(b) | &nbsp;&nbsp;&nbsp;167769 |
| &nbsp;&nbsp;410000 | Kubota Credit Owner Trust, Series 2025-2A, Class A2, 4.48%, 4/17/28(b) | &nbsp;&nbsp;&nbsp;410961 |
| &nbsp;&nbsp;425000 | LAD Auto Receivables Trust, Series 2023-3A, Class C, 6.43%, 12/15/28(b) | &nbsp;&nbsp;&nbsp;433443 |
| &nbsp;&nbsp;&nbsp;&nbsp;37758 | Lendbuzz Securitization Trust, Series 2022-1A, Class A, 4.22%, 5/17/27(b) | &nbsp;&nbsp;&nbsp;&nbsp;37601 |
| &nbsp;&nbsp;168040 | Lendbuzz Securitization Trust, Series 2024-2A, Class A2, 5.99%, 5/15/29(b) | &nbsp;&nbsp;&nbsp;169477 |
| &nbsp;&nbsp;550000 | Lendbuzz Securitization Trust, Series 2025-2A, Class A2, 5.18%, 5/15/30(b) | &nbsp;&nbsp;&nbsp;551480 |
| &nbsp;&nbsp;&nbsp;&nbsp;67819 | Marlette Funding Trust, Series 2023-3A, Class B, 6.71%, 9/15/33(b) | &nbsp;&nbsp;&nbsp;&nbsp;67929 |
| &nbsp;&nbsp;400000 | Marlette Funding Trust, Series 2024-1A, Class B, 6.07%, 7/17/34(b) | &nbsp;&nbsp;&nbsp;402574 |
| &nbsp;&nbsp;400000 | MMAF Equipment Finance LLC, Series 2019-B, Class A5, 2.29%, 11/12/41(b) | &nbsp;&nbsp;&nbsp;393871 |
| &nbsp;&nbsp;500000 | MMAF Equipment Finance LLC, Series 2020-BA, Class A5, 0.85%, 4/14/42(b) | &nbsp;&nbsp;&nbsp;497724 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Ultra-Short Fixed Income Fund (cont.)

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| &nbsp;&nbsp;&nbsp;$750000 | Navistar Financial Dealer Note Master Owner Trust, Series 2024-1, Class A, 5.59%, 4/25/29(b) | &nbsp;&nbsp;&nbsp;&nbsp;$756013 |
| &nbsp;&nbsp;&nbsp;&nbsp;107148 | Santander Drive Auto Receivables Trust, Series 2021-2, Class D, 1.35%, 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106750 |
| &nbsp;&nbsp;&nbsp;&nbsp;750000 | Santander Drive Auto Receivables Trust, Series 2022-2, Class C, 3.76%, 7/16/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;744805 |
| &nbsp;&nbsp;&nbsp;&nbsp;342035 | Santander Drive Auto Receivables Trust, Series 2022-7, Class B, 5.95%, 1/17/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343244 |
| &nbsp;&nbsp;&nbsp;&nbsp;725000 | Santander Drive Auto Receivables Trust, Series 2023-4, Class B, 5.77%, 12/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;734132 |
| &nbsp;&nbsp;&nbsp;&nbsp;275000 | Santander Drive Auto Receivables Trust, Series 2024-5, Class B, 4.63%, 8/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275324 |
| &nbsp;&nbsp;&nbsp;&nbsp;500000 | SBNA Auto Receivables Trust, Series 2025-SF1, Class B, 5.12%, 3/17/31(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500068 |
| &nbsp;&nbsp;&nbsp;&nbsp;450000 | Tesla Auto Lease Trust, Series 2023-A, Class B, 6.41%, 7/20/27(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450650 |
| &nbsp;&nbsp;&nbsp;&nbsp;395000 | Tesla Auto Lease Trust, Series 2023-B, Class B, 6.57%, 8/20/27(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396939 |
| &nbsp;&nbsp;&nbsp;&nbsp;108229 | Tesla Electric Vehicle Trust, Series 2023-1, Class A2A, 5.54%, 12/21/26(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108369 |
| &nbsp;&nbsp;&nbsp;&nbsp;480000 | Tricolor Auto Securitization Trust, Series 2024-3A, Class C, 5.73%, 12/15/28(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;484639 |
| &nbsp;&nbsp;&nbsp;&nbsp;287333 | Upstart Securitization Trust, Series 2024-1, Class A, 5.33%, 11/20/34(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;287858 |
| &nbsp;&nbsp;&nbsp;&nbsp;500000 | Verizon Master Trust, Series 2023-1, Class C, 4.98%, 1/22/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;499933 |
| &nbsp;&nbsp;&nbsp;&nbsp;425000 | Verizon Master Trust, Series 2024-1, Class C, 5.49%, 12/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425821 |
| &nbsp;&nbsp;&nbsp;&nbsp;579468 | Volkswagen Auto Lease Trust, Series 2024-A, Class A2A, 5.40%, 12/21/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580852 |
| &nbsp;&nbsp;&nbsp;&nbsp;420963 | Volvo Financial Equipment LLC Series, Series 2024-1A, Class A2, 4.56%, 5/17/27(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420750 |
| &nbsp;&nbsp;&nbsp;&nbsp;220000 | Westlake Automobile Receivables Trust, Series 2022-2A, Class D, 5.48%, 9/15/27(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220471 |
| &nbsp;&nbsp;&nbsp;&nbsp;215427 | Westlake Automobile Receivables Trust, Series 2023-4A, Class A2, 6.23%, 1/15/27(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215683 |
| &nbsp;&nbsp;&nbsp;&nbsp;693681 | World Omni Auto Receivables Trust, Series 2021-D, Class A4, 1.10%, 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;686718 |
| &nbsp;&nbsp;&nbsp;&nbsp;760000 | World Omni Select Auto Trust, Series 2021-A, Class D, 1.44%, 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;752192 |
| &nbsp;&nbsp;&nbsp;&nbsp;225000 | World Omni Select Auto Trust, Series 2024-A, Class A3, 4.98%, 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226133 |
| **Total Asset Backed Securities** | **Total Asset Backed Securities** | &nbsp;&nbsp;&nbsp;**30129336** |
| (Cost $30,023,088) | (Cost $30,023,088) |  |
| **U.S. Treasury Obligations — 9.2%** | **U.S. Treasury Obligations — 9.2%** |  |
| **U.S. Treasury Bills — 9.2%** | **U.S. Treasury Bills — 9.2%** |  |
| &nbsp;&nbsp;1750000 | U.S. Treasury Bill- When Issued, 4.25%, 7/3/25(d) | &nbsp;&nbsp;&nbsp;&nbsp;1749595 |
| &nbsp;&nbsp;1750000 | U.S. Treasury Bill- When Issued, 4.25%, 7/15/25(d) | &nbsp;&nbsp;&nbsp;&nbsp;1747184 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Ultra-Short Fixed Income Fund (cont.)

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| $2500000 | U.S. Treasury Bill- When Issued, 4.26%, 7/8/25(d) | $2497984 |
| &nbsp;&nbsp;2000000 | U.S. Treasury Bill- When Issued, 4.26%, 7/29/25(d) | &nbsp;&nbsp;&nbsp;1993545 |
|  |  | &nbsp;&nbsp;&nbsp;7988308 |
| **Total U.S. Treasury Obligations** | **Total U.S. Treasury Obligations** | &nbsp;&nbsp;&nbsp;**7988308** |
| (Cost $7,988,083) | (Cost $7,988,083) |  |
| **Collateralized Mortgage Obligations — 2.5%** | **Collateralized Mortgage Obligations — 2.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;100000 | Freddie Mac STACR REMIC Trust, Series 2024-DNA2, Class M2, (SOFR30A + 1.700%), 6.01%, 5/25/44(a),(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100454 |
| &nbsp;&nbsp;&nbsp;&nbsp;840000 | HOMES Trust, Series 2025-AFC2, Class A1A, 5.47%, 6/25/60(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840547 |
| &nbsp;&nbsp;&nbsp;&nbsp;503986 | OBX Trust, Series 2023-NQM1, Class A1, 6.12%, 11/25/62(b),(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;503334 |
| &nbsp;&nbsp;&nbsp;&nbsp;470000 | OBX Trust, Series 2025-NQM11, Class A1, 5.42%, 5/25/65(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470931 |
| &nbsp;&nbsp;&nbsp;&nbsp;300000 | Verus Securitization Trust, Series 2020-4, Class M1, 3.29%, 5/25/65(b),(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280193 |
| **Total Collateralized Mortgage Obligations** | **Total Collateralized Mortgage Obligations** | &nbsp;&nbsp;&nbsp;**2195459** |
| (Cost $2,217,089) | (Cost $2,217,089) |  |

---

---

| | | |
|:---|:---|:---|
| **Commercial Paper — 6.9%** | **Commercial Paper — 6.9%** |  |
| 1000000 | Alexandria Real Estate Equities, Inc., 4.69%, 7/18/25(f) | &nbsp;&nbsp;&nbsp;&nbsp;997715 |
| 1000000 | Alimentation Couche-Tard, Inc., 4.61%, 7/18/25(f) | &nbsp;&nbsp;&nbsp;&nbsp;997653 |
| 1000000 | CenterPoint Energy, Inc., 4.46%, 7/1/25(f) | &nbsp;&nbsp;&nbsp;&nbsp;999875 |
| 1000000 | Columbus Southern Power Co, 4.57%, 7/9/25(f) | &nbsp;&nbsp;&nbsp;&nbsp;998854 |
| 1000000 | Fiserv, Inc., 4.54%, 7/8/25(f) | &nbsp;&nbsp;&nbsp;&nbsp;998975 |
| 1000000 | Keurig Dr Pepper, Inc., 4.50%, 7/1/25(f) | &nbsp;&nbsp;&nbsp;&nbsp;999873 |
| **Total Commercial Paper** | **Total Commercial Paper** | **5992945** |
| (Cost $5,993,724) | (Cost $5,993,724) |  |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  |  |
| **Investment Company — 2.6%** | **Investment Company — 2.6%** |  |
| 2273418 | RBC BlueBay U.S. Government Money Market Fund,<br> Institutional Class 1(g) | &nbsp;&nbsp;&nbsp;&nbsp;2273418 |
| **Total Investment Company** | **Total Investment Company** | &nbsp;&nbsp;&nbsp;&nbsp;**2273418** |
| (Cost $2,273,418) | (Cost $2,273,418) |  |
| **Total Investments** | **Total Investments** | **$86520690** |
| (Cost $86,336,807) — 99.5% | (Cost $86,336,807) — 99.5% |  |
| **Other assets in excess of liabilities — 0.5%** | **Other assets in excess of liabilities — 0.5%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**427513** |
| **NET ASSETS — 100.0%** | **NET ASSETS — 100.0%** | **$86948203** |

---

------

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

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Ultra-Short Fixed Income Fund (cont.)

------

June 30, 2025 (Unaudited)

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

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

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

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

(e) 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.

(f) The rate represents effective yield at the time of purchase.

(g) Affiliated investment.

---

| |
|:---|
| Abbreviations used are defined below: |
| GMTN - Global Medium Term Note |
| MTN - Medium Term Note |
| REIT - Real Estate Investment Trust |
| SOFR - Secured Overnight Financing Rate |
| SOFR30A - Secured Overnight Financing Rate 30 Day Average |

---

## 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 Ultra-Short Fixed Income Fund

- **b. EDGAR series identifier (if any):** S000043719

- **c. LEI of Series:** 5493005X23EI9LC0WP15

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

- **a. Date of fiscal year-end:** 2026-03-31

- **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:** $87019100.84

**Total Liabilities:** $322568.44

**Net Assets:** $86696532.40

**Cash Not Reported:** $787.49

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -0.00080000 | **1-Year:** -0.00530000 | **5-Year:** -0.00110000 | **10-Year:** -0.00030000 | **30-Year:** 0.00000000

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

- **3-Month:** -0.00100000 | **1-Year:** -0.00800000 | **5-Year:** -0.00410000 | **10-Year:** -0.00050000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000138516 | 0.34%                | 0.25%                | 0.54%                |
| Class ID C000135577 | 0.34%                | 0.36%                | 0.45%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $11744.14                | $-1888.13                                  |
| Month 2  | $18716.55                | $-43937.54                                 |
| Month 3  | $14188.90                | $102213.43                                 |

**Designated Index Information**

- **Index Name:** ICE BofA US 1-Year Treasury Bill Index

- **Index Identifier:** G0O3

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Lendbuzz Securitization Trust               | Lendbuzz Securitization Trust 2024-2                      | CUSIP: 525920AB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    168040 | PA      | $169477.26    | 0.20%             | 2029-05-15      | Fixed         | 5.99%                 | No            |                  2 | On Loan: No      |
| ALIMENTATION COUCHE-TA 0.00 18JUL25         | ALIMENTATION COUCHE-TA 0.00 18JUL25                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $997653.30    | 1.15%             | 2025-07-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                     | Hyundai Capital America                                   | CUSIP: 44891ADY0<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1000910.76   | 1.15%             | 2027-06-23      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                         | Charles Schwab Corp/The                                   | CUSIP: 808513BZ7<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |   1305000 | PA      | $1314041.26   | 1.52%             | 2027-03-03      | Floating      | 5.36%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                    | Lloyds Banking Group PLC                                  | CUSIP: 53944YAT0<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |   1000000 | PA      | $999896.01    | 1.15%             | 2026-08-11      | Fixed         | 4.72%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables               | Exeter Automobile Receivables Trust 2024-3                | CUSIP: 30165AAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    250000 | PA      | $251484.08    | 0.29%             | 2028-09-15      | Fixed         | 5.57%                 | No            |                  2 | On Loan: No      |
| HPEFS Equipment Trust                       | HPEFS Equipment Trust                                     | CUSIP: 40441RAF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     83596 | PA      | $83456.55     | 0.10%             | 2029-11-20      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                     | Goldman Sachs Group Inc/The                               | CUSIP: 38141GC77<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    900000 | PA      | $907467.21    | 1.05%             | 2028-04-23      | Fixed         | 4.94%                 | No            |                  2 | On Loan: No      |
| GM Financial Automobile Leasin              | GM Financial Automobile Leasing Trust 2023-1              | CUSIP: 362541AG9<br>LEI: 254900DSTG5GSVOBDN09 | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $500170.19    | 0.58%             | 2027-01-20      | Fixed         | 5.76%                 | No            |                  2 | On Loan: No      |
| CarMax Select Receivables Trus              | Carmax Select Receivables Trust 2024-A                    | CUSIP: 14319FAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    200000 | PA      | $202158.39    | 0.23%             | 2028-11-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| PNC BANK NA                                 | PNC Bank NA                                               | CUSIP: 69353RFY9<br>LEI: AD6GFRVSDT01YPT1CS68 | Long             | DBT              | CORP              | US        |    540000 | PA      | $540425.08    | 0.62%             | 2027-05-13      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                     | Carmax Auto Owner Trust 2022-2                            | CUSIP: 14317HAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     88330 | PA      | $88079.95     | 0.10%             | 2027-02-16      | Fixed         | 3.49%                 | No            |                  2 | On Loan: No      |
| KROGER CO                                   | Kroger Co/The                                             | CUSIP: 501044DE8<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | DBT              | CORP              | US        |    750000 | PA      | $734895.33    | 0.85%             | 2026-10-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| CITIZENS BANK NA/RI                         | Citizens Bank NA/Providence RI                            | CUSIP: 17401QAU5<br>LEI: DRMSV1Q0EKMEXLAU1P80 | Long             | DBT              | CORP              | US        |    750000 | PA      | $745371.74    | 0.86%             | 2026-02-18      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Hyundai Auto Receivables Trust              | Hyundai Auto Receivables Trust 2021-A                     | CUSIP: 44933LAF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    700000 | PA      | $697382.56    | 0.80%             | 2027-11-15      | Fixed         | 1.33%                 | No            |                  2 | On Loan: No      |
| ACM Auto Trust                              | ACM Auto Trust 2024-2                                     | CUSIP: 00461WAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    135234 | PA      | $135435.40    | 0.16%             | 2029-02-20      | Fixed         | 6.06%                 | No            |                  2 | On Loan: No      |
| Honda Auto Receivables Owner T              | Honda Auto Receivables 2022-1 Owner Trust                 | CUSIP: 43815BAD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    290000 | PA      | $288494.09    | 0.33%             | 2028-12-15      | Fixed         | 2.04%                 | No            |                  2 | On Loan: No      |
| ARI Fleet Lease Trust                       | ARI Fleet Lease Trust 2023-A                              | CUSIP: 00218GAE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $508485.15    | 0.59%             | 2032-02-17      | Fixed         | 6.03%                 | No            |                  2 | On Loan: No      |
| Tesla Auto Lease Trust                      | Tesla Auto Lease Trust 2023-A                             | CUSIP: 88167PAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    450000 | PA      | $450649.69    | 0.52%             | 2027-07-20      | Fixed         | 6.41%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                     | Carmax Auto Owner Trust 2021-4                            | CUSIP: 14317JAH0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    875000 | PA      | $857081.82    | 0.99%             | 2028-03-15      | Fixed         | 1.48%                 | No            |                  2 | On Loan: No      |
| AmeriCredit Automobile Receiva              | AmeriCredit Automobile Receivables Trust 2023-2           | CUSIP: 03065UAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    259091 | PA      | $259512.00    | 0.30%             | 2027-04-19      | Fixed         | 6.19%                 | No            |                  2 | On Loan: No      |
| TREASURY BILL                               | United States Treasury Bill                               | CUSIP: 912797NX1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1750000 | PA      | $1749594.88   | 2.02%             | 2025-07-03      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                            | T-Mobile USA Inc                                          | CUSIP: 87264ABR5<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $984814.46    | 1.14%             | 2026-02-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| TREASURY BILL                               | United States Treasury Bill                               | CUSIP: 912797QC4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2000000 | PA      | $1993544.95   | 2.30%             | 2025-07-29      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Ford Credit Auto Owner Trust/F              | Ford Credit Auto Owner Trust 2021-REV1                    | CUSIP: 345340AB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    330000 | PA      | $321728.52    | 0.37%             | 2033-10-17      | Fixed         | 1.61%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                      | NextEra Energy Capital Holdings Inc                       | CUSIP: 65339KCS7<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1002230.95   | 1.16%             | 2026-01-29      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                     | CarMax Auto Owner Trust 2022-1                            | CUSIP: 14317CAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     30406 | PA      | $30242.42     | 0.03%             | 2026-12-15      | Fixed         | 1.47%                 | No            |                  2 | On Loan: No      |
| GM Financial Automobile Leasin              | GM Financial Automobile Leasing Trust 2023-1              | CUSIP: 362541AF1<br>LEI: 254900DSTG5GSVOBDN09 | Long             | ABS-O            | CORP              | US        |    324591 | PA      | $324679.54    | 0.37%             | 2027-01-20      | Fixed         | 5.51%                 | No            |                  2 | On Loan: No      |
| MMAF Equipment Finance LLC                  | MMAF Equipment Finance LLC 2020-B                         | CUSIP: 60700KAE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $497724.39    | 0.57%             | 2042-04-14      | Fixed         | 0.85%                 | No            |                  2 | On Loan: No      |
| Ford Credit Floorplan Master O              | Ford Credit Floorplan Master Owner Trust A                | CUSIP: 34528QHR8<br>LEI: 5493001DTG5N7T8BG747 | Long             | ABS-O            | CORP              | US        |    490000 | PA      | $486198.05    | 0.56%             | 2027-09-15      | Fixed         | 1.32%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                | UBS Group AG                                              | CUSIP: 902613AS7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   1000000 | PA      | $1001800.02   | 1.16%             | 2027-08-05      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                     | Carmax Auto Owner Trust 2022-4                            | CUSIP: 14318UAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    245373 | PA      | $246075.10    | 0.28%             | 2027-08-16      | Fixed         | 5.34%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                       | Toronto-Dominion Bank/The                                 | CUSIP: 89115KAA8<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    900000 | PA      | $901845.32    | 1.04%             | 2028-06-02      | Floating      | 5.22%                 | No            |                  2 | On Loan: No      |
| Ford Credit Floorplan Master O              | Ford Credit Floorplan Master Owner Trust A                | CUSIP: 34528QHS6<br>LEI: 5493001DTG5N7T8BG747 | Long             | ABS-O            | CORP              | US        |    535000 | PA      | $528409.01    | 0.61%             | 2027-09-15      | Fixed         | 1.87%                 | No            |                  2 | On Loan: No      |
| KEURIG DR PEPP 07/01/2025                   | KEURIG DR PEPP 07/01/2025                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $999873.00    | 1.15%             | 2025-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Ally Auto Receivables Trust                 | ALLY AUTO RECEIVABLES TRUST 2023-A                        | CUSIP: 02008NAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    815000 | PA      | $826315.37    | 0.95%             | 2034-01-17      | Fixed         | 6.08%                 | No            |                  2 | On Loan: No      |
| Lendbuzz Securitization Trust               | Lendbuzz Securitization Trust 2022-1                      | CUSIP: 52607KAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     37758 | PA      | $37601.16     | 0.04%             | 2027-05-17      | Fixed         | 4.22%                 | No            |                  2 | On Loan: No      |
| Ford Credit Auto Owner Trust                | Ford Credit Auto Owner Trust 2022-A                       | CUSIP: 345286AF5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    215000 | PA      | $212426.87    | 0.25%             | 2029-07-15      | Fixed         | 2.14%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                       | Wells Fargo & Co                                          | CUSIP: 95000U2V4<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1170000 | PA      | $1154524.40   | 1.33%             | 2028-03-24      | Fixed         | 3.53%                 | No            |                  2 | On Loan: No      |
| World Omni Auto Receivables Tr              | World Omni Auto Receivables Trust 2021-D                  | CUSIP: 98163KAD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    693681 | PA      | $686717.84    | 0.79%             | 2027-11-15      | Fixed         | 1.10%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR REMIC Trust 2024-DNA2                   | CUSIP: 35564NDA8<br>LEI: 529900GRKKKHILZX4347 | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $100453.68    | 0.12%             | 2044-05-25      | Floating      | 6.01%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                | Barclays PLC                                              | CUSIP: 06738EBZ7<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $500241.27    | 0.58%             | 2026-08-09      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA                    | Volkswagen Group of America Finance LLC                   | CUSIP: 928668CK6<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    450000 | PA      | $450855.14    | 0.52%             | 2026-08-14      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| HOMES TRUST                                 | HOMES 2025-AFC2 TRUST                                     | CUSIP: 43761YAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    840000 | PA      | $840547.26    | 0.97%             | 2060-06-25      | Variable      | 5.47%                 | No            |                  2 | On Loan: No      |
| MARS INC                                    | Mars Inc                                                  | CUSIP: 571676AW5<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |    860000 | PA      | $863576.21    | 1.00%             | 2027-03-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                           | HSBC Holdings PLC                                         | CUSIP: 404280BX6<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $499541.28    | 0.58%             | 2026-09-12      | Fixed         | 4.29%                 | No            |                  2 | On Loan: No      |
| SOUTHERN PWR CO DISC CO 0.0 09JUL25         | SOUTHERN PWR CO DISC CO 0.0 09JUL25                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $998853.30    | 1.15%             | 2025-07-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                     | CarMax Auto Owner Trust 2022-1                            | CUSIP: 14317CAG7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    255000 | PA      | $249637.83    | 0.29%             | 2028-07-17      | Fixed         | 2.47%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                      | General Motors Financial Co Inc                           | CUSIP: 37045XDQ6<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    865000 | PA      | $862797.28    | 1.00%             | 2027-02-26      | Floating      | 5.35%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables               | Exeter Automobile Receivables Trust 2024-4                | CUSIP: 30166UAE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    400000 | PA      | $404030.22    | 0.47%             | 2030-08-15      | Fixed         | 5.48%                 | No            |                  2 | On Loan: No      |
| Verizon Master Trust                        | Verizon Master Trust                                      | CUSIP: 92348KBK8<br>LEI: 5493007MUBNP1GFMEB89 | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $499933.28    | 0.58%             | 2029-01-22      | Fixed         | 4.98%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl              | Santander Drive Auto Receivables Trust 2023-4             | CUSIP: 802927AE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    725000 | PA      | $734132.34    | 0.85%             | 2028-12-15      | Fixed         | 5.77%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding              | Avis Budget Rental Car Funding AESOP LLC                  | CUSIP: 05377RDV3<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |    250000 | PA      | $249475.01    | 0.29%             | 2026-08-20      | Fixed         | 2.68%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                              | Morgan Stanley                                            | CUSIP: 61772BAB9<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $975926.00    | 1.13%             | 2027-05-04      | Fixed         | 1.59%                 | No            |                  2 | On Loan: No      |
| DT Auto Owner Trust                         | DT Auto Owner Trust 2022-3                                | CUSIP: 23345RAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    334022 | PA      | $336249.51    | 0.39%             | 2028-07-17      | Fixed         | 7.69%                 | No            |                  2 | On Loan: No      |
| ONSLOW BAY FINANCIAL LLC                    | OBX 2025-NQM11 TRUST                                      | CUSIP: 67449BAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    470000 | PA      | $470931.30    | 0.54%             | 2065-05-25      | Variable      | 5.42%                 | No            |                  2 | On Loan: No      |
| Honda Auto Receivables Owner T              | Honda Auto Receivables 2022-2 Owner Trust                 | CUSIP: 43815PAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    650000 | PA      | $647270.38    | 0.75%             | 2028-12-18      | Fixed         | 3.76%                 | No            |                  2 | On Loan: No      |
| MANUF & TRADERS TRUST CO                    | Manufacturers & Traders Trust Co                          | CUSIP: 55279HAV2<br>LEI: WWB2V0FCW3A0EE3ZJN75 | Long             | DBT              | CORP              | US        |    575000 | PA      | $574757.17    | 0.66%             | 2026-01-27      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                      | American Honda Finance Corp                               | CUSIP: 02665WFS5<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |    400000 | PA      | $399658.34    | 0.46%             | 2027-10-22      | Floating      | 5.04%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl              | Santander Drive Auto Receivables Trust 2022-2             | CUSIP: 80286MAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    750000 | PA      | $744804.87    | 0.86%             | 2029-07-16      | Fixed         | 3.76%                 | No            |                  2 | On Loan: No      |
| MMAF Equipment Finance LLC                  | MMAF Equipment Finance LLC 2019-B                         | CUSIP: 55316EAE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    400000 | PA      | $393870.71    | 0.45%             | 2041-11-12      | Fixed         | 2.29%                 | No            |                  2 | On Loan: No      |
| Tesla Auto Lease Trust                      | Tesla Auto Lease Trust 2023-B                             | CUSIP: 88167QAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    395000 | PA      | $396939.13    | 0.46%             | 2027-08-20      | Fixed         | 6.57%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                        | Bank of America Corp                                      | CUSIP: 06051GLE7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1504382.84   | 1.74%             | 2027-01-20      | Fixed         | 5.08%                 | No            |                  2 | On Loan: No      |
| CENTERPOINT ENERGY INC 0.0 01JUL25          | CENTERPOINT ENERGY INC 0.0 01JUL25                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $999875.20    | 1.15%             | 2025-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Hyundai Auto Lease Securitizat              | Hyundai Auto Lease Securitization Trust 2024-B            | CUSIP: 44934FAF2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    600000 | PA      | $607562.98    | 0.70%             | 2028-08-15      | Fixed         | 5.56%                 | No            |                  2 | On Loan: No      |
| SBNA Auto Receivables Trust                 | SBNA Auto Receivables Trust 2025-SF1                      | CUSIP: 78437XAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $500068.40    | 0.58%             | 2031-03-17      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| COMERICA INC                                | Comerica Inc                                              | CUSIP: 200340AW7<br>LEI: I9Q57JVPWHHZ3ZGBW498 | Long             | DBT              | CORP              | US        |    110000 | PA      | $112652.97    | 0.13%             | 2030-01-30      | Fixed         | 5.98%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                           | HSBC Holdings PLC                                         | CUSIP: 404280CM9<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   1000000 | PA      | $973483.73    | 1.12%             | 2027-05-24      | Fixed         | 1.59%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP                            | Duke Energy Corp                                          | CUSIP: 26441CAS4<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $981279.96    | 1.13%             | 2026-09-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| HPEFS Equipment Trust                       | HPEFS Equipment Trust 2023-1                              | CUSIP: 40443DAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    207809 | PA      | $207895.75    | 0.24%             | 2028-02-22      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| Marlette Funding Trust                      | Marlette Funding Trust 2024-1                             | CUSIP: 57108VAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    400000 | PA      | $402574.32    | 0.46%             | 2034-07-17      | Fixed         | 6.07%                 | No            |                  2 | On Loan: No      |
| MET TOWER GLOBAL FUNDING                    | Met Tower Global Funding                                  | CUSIP: 58989V2J2<br>LEI: 635400OFJCY9IOGBGY57 | Long             | DBT              | CORP              | US        |    515000 | PA      | $512220.15    | 0.59%             | 2027-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HCA INC                                     | HCA Inc                                                   | CUSIP: 404121AH8<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    500000 | PA      | $502613.59    | 0.58%             | 2026-09-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl              | Santander Drive Auto Receivables Trust 2024-5             | CUSIP: 802920AE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    275000 | PA      | $275324.26    | 0.32%             | 2029-08-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| DLLAA LLC                                   | DLLAA 2023-1 LLC                                          | CUSIP: 23292HAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     40220 | PA      | $40263.40     | 0.05%             | 2026-07-20      | Fixed         | 5.93%                 | No            |                  2 | On Loan: No      |
| REALTY INCOME CORP                          | Realty Income Corp                                        | CUSIP: 756109BY9<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              | CORP              | US        |    750000 | PA      | $751687.72    | 0.87%             | 2026-09-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                      | NextEra Energy Capital Holdings Inc                       | CUSIP: 65339KDG2<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    400000 | PA      | $405623.43    | 0.47%             | 2028-02-04      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables               | Exeter Automobile Receivables Trust 2021-3                | CUSIP: 30166AAF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    831871 | PA      | $817644.77    | 0.94%             | 2027-06-15      | Fixed         | 1.55%                 | No            |                  2 | On Loan: No      |
| World OMNI Select Auto Trust                | World Omni Select Auto Trust 2024-A                       | CUSIP: 98164LAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    225000 | PA      | $226133.31    | 0.26%             | 2030-02-15      | Fixed         | 4.98%                 | No            |                  2 | On Loan: No      |
| HPEFS Equipment Trust                       | HPEFS Equipment Trust 2024-1                              | CUSIP: 403963AB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     88492 | PA      | $88532.75     | 0.10%             | 2031-05-20      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                         | JPMorgan Chase & Co                                       | CUSIP: 46647PBW5<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $979398.02    | 1.13%             | 2027-02-04      | Fixed         | 1.04%                 | No            |                  2 | On Loan: No      |
| World OMNI Select Auto Trust                | World Omni Select Auto Trust 2021-A                       | CUSIP: 98163HAF6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    760000 | PA      | $752192.07    | 0.87%             | 2027-11-15      | Fixed         | 1.44%                 | No            |                  2 | On Loan: No      |
| Kubota Credit Owner Trust                   | Kubota Credit Owner Trust 2025-2                          | CUSIP: 50117LAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    410000 | PA      | $410961.23    | 0.47%             | 2028-04-17      | Fixed         | 4.48%                 | No            |                  2 | On Loan: No      |
| Verizon Master Trust                        | Verizon Master Trust                                      | CUSIP: 92348KCP6<br>LEI: 5493007MUBNP1GFMEB89 | Long             | ABS-O            | CORP              | US        |    425000 | PA      | $425821.26    | 0.49%             | 2028-12-20      | Fixed         | 5.49%                 | No            |                  2 | On Loan: No      |
| ATHENE GLOBAL FUNDING                       | Athene Global Funding                                     | CUSIP: 04685A2K6<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $979600.94    | 1.13%             | 2026-11-12      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                     | Hyundai Capital America                                   | CUSIP: 44891ACX3<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |    300000 | PA      | $303365.14    | 0.35%             | 2027-03-19      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                     | Hyundai Capital America                                   | CUSIP: 44891ADU8<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |    655000 | PA      | $658716.54    | 0.76%             | 2027-06-23      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust              | Carvana Auto Receivables Trust 2023-N3                    | CUSIP: 14686RAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    210365 | PA      | $210695.95    | 0.24%             | 2027-09-10      | Fixed         | 6.41%                 | 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        |   2273418 | NS      | $2273418.01   | 2.62%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                     | Goldman Sachs Group Inc/The                               | CUSIP: 38141GXM1<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    750000 | PA      | $738374.04    | 0.85%             | 2026-12-09      | Fixed         | 1.09%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE SA                          | Credit Agricole SA                                        | CUSIP: 22535WAH0<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |    360000 | PA      | $353167.44    | 0.41%             | 2027-01-26      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| WESTERN DIGITAL CORP                        | Western Digital Corp                                      | CUSIP: 958102AM7<br>LEI: 549300QQXOOYEF89IC56 | Long             | DBT              | CORP              | US        |    155000 | PA      | $154619.25    | 0.18%             | 2026-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                            | Deutsche Bank AG/New York NY                              | CUSIP: 251526CV9<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    430000 | PA      | $437197.01    | 0.50%             | 2028-02-08      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables               | Exeter Automobile Receivables Trust 2023-2                | CUSIP: 30168CAF5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    750000 | PA      | $763313.54    | 0.88%             | 2029-08-15      | Fixed         | 6.32%                 | No            |                  2 | On Loan: No      |
| Tesla Electric Vehicle Trust                | Tesla Electric Vehicle Trust 2023-1                       | CUSIP: 881943AB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    108229 | PA      | $108368.90    | 0.12%             | 2026-12-21      | Fixed         | 5.54%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                     | Goldman Sachs Group Inc/The                               | CUSIP: 38145GAM2<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    550000 | PA      | $550699.14    | 0.64%             | 2026-08-10      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| HCA INC                                     | HCA Inc                                                   | CUSIP: 404119CY3<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    485000 | PA      | $491969.25    | 0.57%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GM Financial Automobile Leasin              | GM Financial Automobile Leasing Trust 2023-2              | CUSIP: 362548AE9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    750000 | PA      | $750627.56    | 0.87%             | 2027-05-20      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl              | Santander Drive Auto Receivables Trust 2021-2             | CUSIP: 80286XAF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    107148 | PA      | $106749.49    | 0.12%             | 2027-07-15      | Fixed         | 1.35%                 | No            |                  2 | On Loan: No      |
| DLLAD LLC                                   | DLLAD 2021-1 LLC                                          | CUSIP: 233262AC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     18951 | PA      | $18883.91     | 0.02%             | 2026-09-21      | Fixed         | 0.64%                 | No            |                  2 | On Loan: No      |
| TREASURY BILL                               | United States Treasury Bill                               | CUSIP: 912797PZ4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2500000 | PA      | $2497983.84   | 2.88%             | 2025-07-08      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| DLLMT LLC                                   | DLLMT 2024-1 LLC                                          | CUSIP: 23347AAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    624248 | PA      | $625382.03    | 0.72%             | 2027-02-22      | Fixed         | 5.08%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables               | Exeter Automobile Receivables Trust 2024-5                | CUSIP: 30165BAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    170000 | PA      | $169768.32    | 0.20%             | 2029-04-16      | Fixed         | 4.48%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                    | OBX 2023-NQM1 Trust                                       | CUSIP: 670855AA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    503986 | PA      | $503333.60    | 0.58%             | 2062-11-25      | Variable      | 6.12%                 | No            |                  2 | On Loan: No      |
| Westlake Automobile Receivable              | Westlake Automobile Receivables Trust 2023-4              | CUSIP: 96041AAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    215427 | PA      | $215682.44    | 0.25%             | 2027-01-15      | Fixed         | 6.23%                 | No            |                  2 | On Loan: No      |
| TREASURY BILL                               | United States Treasury Bill                               | CUSIP: 912797QA8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1750000 | PA      | $1747184.25   | 2.02%             | 2025-07-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ARI Fleet Lease Trust                       | ARI Fleet Lease Trust 2025-A                              | CUSIP: 04033CAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    375000 | PA      | $375308.31    | 0.43%             | 2034-01-17      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| AXIS Equipment Finance Receiva              | Amur Equipment Finance Receivables XI LLC                 | CUSIP: 03236XAD9<br>LEI: 549300IFG1NMINYRYF89 | Long             | ABS-O            | CORP              | US        |    825000 | PA      | $835242.86    | 0.96%             | 2029-01-22      | Fixed         | 6.27%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                    | Toyota Motor Credit Corp                                  | CUSIP: 89236TMJ1<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |    500000 | PA      | $501783.36    | 0.58%             | 2026-08-07      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                       | Wells Fargo & Co                                          | CUSIP: 95000U2F9<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $987946.28    | 1.14%             | 2027-06-17      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Affirm Inc                                  | Affirm Asset Securitization Trust 2024-X2                 | CUSIP: 00833QAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    125000 | PA      | $125359.87    | 0.14%             | 2029-12-17      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| SYNOPSYS INC                                | Synopsys Inc                                              | CUSIP: 871607AA5<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |    500000 | PA      | $502536.98    | 0.58%             | 2027-04-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Marlette Funding Trust                      | Marlette Funding Trust 2023-3                             | CUSIP: 57109RAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     67819 | PA      | $67929.20     | 0.08%             | 2033-09-15      | Fixed         | 6.71%                 | No            |                  2 | On Loan: No      |
| Westlake Automobile Receivable              | Westlake Automobile Receivables Trust 2022-2              | CUSIP: 96042VAG4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    220000 | PA      | $220470.54    | 0.25%             | 2027-09-15      | Fixed         | 5.48%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                               | Citigroup Inc                                             | CUSIP: 172967NA5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $971729.17    | 1.12%             | 2027-06-09      | Fixed         | 1.46%                 | No            |                  2 | On Loan: No      |
| AXIS Equipment Finance Receiva              | Amur Equipment Finance Receivables X LLC                  | CUSIP: 03236VAC5<br>LEI: 549300K5Y88MV8B4M421 | Long             | ABS-O            | CORP              | US        |    388001 | PA      | $386408.42    | 0.45%             | 2028-01-20      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| Dell Equipment Finance Trust                | Dell Equipment Finance Trust 2023-2                       | CUSIP: 24703GAF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $504649.95    | 0.58%             | 2029-07-23      | Fixed         | 6.74%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                               | Citigroup Inc                                             | CUSIP: 172967MZ1<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1000622.52   | 1.15%             | 2027-06-09      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| Volvo Financial Equipment LLC               | Volvo Financial Equipment LLC Series 2024-1               | CUSIP: 92887QAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    420963 | PA      | $420750.01    | 0.49%             | 2027-05-17      | Fixed         | 4.56%                 | No            |                  2 | On Loan: No      |
| ALEXANDRIA REAL ESTATE 0.00 18JUL25         | ALEXANDRIA REAL ESTATE 0.00 18JUL25                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $997715.20    | 1.15%             | 2025-07-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| FISERV INC DIS 07/08/2021                   | FISERV INC DIS 07/08/2021                                 | CUSIP: 33774KU81<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $998974.90    | 1.15%             | 2025-07-08      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                              | Morgan Stanley                                            | CUSIP: 61747YEZ4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    500000 | PA      | $501454.21    | 0.58%             | 2027-01-28      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Dell Equipment Finance Trust                | Dell Equipment Finance Trust 2024-1                       | CUSIP: 24702GAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     78627 | PA      | $78787.50     | 0.09%             | 2030-03-22      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables               | Exeter Automobile Receivables Trust 2022-6                | CUSIP: 30168AAE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    282907 | PA      | $284277.98    | 0.33%             | 2028-05-15      | Fixed         | 6.32%                 | No            |                  2 | On Loan: No      |
| CON EDISON CO OF NY INC                     | Consolidated Edison Co of New York Inc                    | CUSIP: 209111GL1<br>LEI: VZFZPMWDHTQCFKYOBP05 | Long             | DBT              | CORP              | US        |    285000 | PA      | $284610.31    | 0.33%             | 2027-11-18      | Floating      | 4.83%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                  | Verus Securitization Trust 2020-4                         | CUSIP: 92538LAD3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $280192.64    | 0.32%             | 2065-05-25      | Variable      | 3.29%                 | No            |                  2 | On Loan: No      |
| HPEFS Equipment Trust                       | Hpefs Equipment Trust 2022-3                              | CUSIP: 403951AE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    439055 | PA      | $439496.72    | 0.51%             | 2029-08-20      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Daimler Trucks Retail Trust                 | Daimler Trucks Retail Trust 2022-1                        | CUSIP: 233869AD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    355000 | PA      | $355577.89    | 0.41%             | 2030-01-15      | Fixed         | 5.39%                 | No            |                  2 | On Loan: No      |
| Volkswagen Auto Lease Trust                 | Volkswagen Auto Lease Trust 2024-A                        | CUSIP: 92866EAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    579468 | PA      | $580852.21    | 0.67%             | 2026-12-21      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Kubota Credit Owner Trust                   | Kubota Credit Owner Trust 2022-1                          | CUSIP: 50117EAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    168494 | PA      | $167768.68    | 0.19%             | 2026-10-15      | Fixed         | 2.67%                 | No            |                  2 | On Loan: No      |
| DAIMLER TRUCK FINAN NA                      | Daimler Truck Finance North America LLC                   | CUSIP: 233853AY6<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |    150000 | PA      | $152129.46    | 0.18%             | 2027-09-25      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| GEORGIA POWER CO                            | Georgia Power Co                                          | CUSIP: 373334KZ3<br>LEI: D981X4Z4RWS7PDMJUZ03 | Long             | DBT              | CORP              | US        |    570000 | PA      | $568811.72    | 0.66%             | 2026-09-15      | Floating      | 4.58%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                         | JPMorgan Chase & Co                                       | CUSIP: 46647PEA0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    150000 | PA      | $151609.94    | 0.17%             | 2028-01-23      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| Upstart Securitization Trust                | Upstart Securitization Trust                              | CUSIP: 91684NAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    287333 | PA      | $287857.86    | 0.33%             | 2034-11-20      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| GM Financial Consumer Automobi              | GM Financial Consumer Automobile Receivables Trust 2023-1 | CUSIP: 38013JAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    320913 | PA      | $321091.33    | 0.37%             | 2028-02-16      | Fixed         | 4.66%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables               | Exeter Automobile Receivables Trust 2022-1                | CUSIP: 30167JAF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    318933 | PA      | $315909.29    | 0.36%             | 2028-06-15      | Fixed         | 3.02%                 | No            |                  2 | On Loan: No      |
| Lendbuzz Securitization Trust               | Lendbuzz Securitization Trust 2025-2                      | CUSIP: 52611JAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    550000 | PA      | $551480.37    | 0.64%             | 2030-05-15      | Fixed         | 5.18%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                           | HSBC Holdings PLC                                         | CUSIP: 404280EF2<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    900000 | PA      | $917208.00    | 1.06%             | 2028-05-17      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Navistar Financial Dealer Note              | Navistar Financial Dealer Note Master Owner Trust         | CUSIP: 63938PBW8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    750000 | PA      | $756012.62    | 0.87%             | 2029-04-25      | Fixed         | 5.59%                 | No            |                  2 | On Loan: No      |
| KEY BANK NA                                 | KeyBank NA/Cleveland OH                                   | CUSIP: 49327M3E2<br>LEI: HUX2X73FUCYHUVH1BK78 | Long             | DBT              | CORP              | US        |    575000 | PA      | $574210.35    | 0.66%             | 2025-08-08      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl              | Santander Drive Auto Receivables Trust 2022-7             | CUSIP: 80287FAD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    342035 | PA      | $343244.11    | 0.40%             | 2028-01-17      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| BMW US CAPITAL LLC                          | BMW US Capital LLC                                        | CUSIP: 05565ECP8<br>LEI: KK5MZM9DIXLXZL9DZL15 | Long             | DBT              | CORP              | US        |    290000 | PA      | $291045.21    | 0.34%             | 2026-08-13      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                    | AerCap Ireland Capital DAC / AerCap Global Aviation Trust | CUSIP: 00774MAV7<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    750000 | PA      | $730725.40    | 0.84%             | 2026-10-29      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| NEW YORK LIFE GLOBAL FDG                    | New York Life Global Funding                              | CUSIP: 64952WFJ7<br>LEI: 635400DPNHEAUHB7ZI15 | Long             | DBT              | CORP              | US        |    475000 | PA      | $472150.03    | 0.54%             | 2027-10-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| NOMURA HOLDINGS INC                         | Nomura Holdings Inc                                       | CUSIP: 65535HBE8<br>LEI: 549300B3CEAHYG7K8164 | Long             | DBT              | CORP              | JP        |    775000 | PA      | $775000.00    | 0.89%             | 2025-07-03      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| LAD Auto Receivables Trust                  | LAD Auto Receivables Trust 2023-3                         | CUSIP: 50168BAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    425000 | PA      | $433443.25    | 0.50%             | 2028-12-15      | Fixed         | 6.43%                 | No            |                  2 | On Loan: No      |
| SOLVENTUM CORP                              | Solventum Corp                                            | CUSIP: 83444MAA9<br>LEI: 254900I70403OSGY4M28 | Long             | DBT              | CORP              | US        |    320000 | PA      | $324383.99    | 0.37%             | 2027-02-25      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables               | Exeter Automobile Receivables Trust 2022-4                | CUSIP: 30166BAE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    119253 | PA      | $119266.14    | 0.14%             | 2028-12-15      | Fixed         | 4.92%                 | No            |                  2 | On Loan: No      |
| Tricolor Auto Securitization T              | Tricolor Auto Securitization Trust 2024-3                 | CUSIP: 89617AAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    480000 | PA      | $484638.66    | 0.56%             | 2028-12-15      | Fixed         | 5.73%                 | No            |                  2 | On Loan: No      |
| General Motors                              | GMF Floorplan Owner Revolving Trust                       | CUSIP: 361886DM3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    600000 | PA      | $602737.15    | 0.70%             | 2028-11-15      | Fixed         | 4.92%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA                    | Volkswagen Group of America Finance LLC                   | CUSIP: 928668CE0<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    425000 | PA      | $426641.00    | 0.49%             | 2026-03-20      | Fixed         | 5.40%                 | 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.