# EDGAR Filing Document

**Accession Number:** 0001272950
**File Stem:** 0001752724-25-202239
**Filing Date:** 2025-8
**Character Count:** 216648
**Document Hash:** de131a647342794cb035923c0c023eb2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-202239.hdr.sgml**: 20250825

**ACCESSION NUMBER**: 0001752724-25-202239

**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:** 251250328

**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 Impact Bond Fund (Series ID: S000059868)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000195863 | Class I      | RIBIX           |
| C000195864 | Class R6     | RIBRX           |
| C000217811 | Class A      | RIBAX           |
| C000227055 | Class Y      | RIBYX           |

## Nport-Ex

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Impact Bond Fund

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| **U.S. Government Agency Backed Mortgages — 40.7%** | **U.S. Government Agency Backed Mortgages — 40.7%** |  |
| **Fannie Mae — 30.8%** | **Fannie Mae — 30.8%** |  |
| $3000000 | (TBA), 2.00%, 7/1/55 | $2374134 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | Pool #AN0360, 3.95%, 12/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41671 |
| &nbsp;&nbsp;2142021 | Pool #AN0509, 2.72%, 3/1/26 | &nbsp;&nbsp;&nbsp;2112910 |
| &nbsp;&nbsp;2865566 | Pool #AN2398, 2.52%, 7/1/28 | &nbsp;&nbsp;&nbsp;2741792 |
| &nbsp;&nbsp;5110000 | Pool #AN2855, 2.22%, 9/1/26 | &nbsp;&nbsp;&nbsp;4982977 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86456 | Pool #AN7868, 3.06%, 12/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84412 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9113 | Pool #BJ0657, 4.00%, 2/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8609 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21408 | Pool #BJ2670, 4.00%, 4/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20223 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42330 | Pool #BJ3178, 4.00%, 11/1/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40189 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35260 | Pool #BJ5158, 4.00%, 4/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40425 | Pool #BJ9439, 4.00%, 2/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38272 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39859 | Pool #BJ9477, 4.00%, 4/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37736 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45362 | Pool #BK7924, 4.00%, 11/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42946 |
| &nbsp;&nbsp;3040110 | Pool #BL4589, 2.45%, 10/1/29 | &nbsp;&nbsp;&nbsp;2848013 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20586 | Pool #BO1263, 3.50%, 6/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18890 |
| &nbsp;&nbsp;&nbsp;&nbsp;390985 | Pool #BP3417, 2.50%, 5/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;326320 |
| &nbsp;&nbsp;&nbsp;&nbsp;143271 | Pool #BP8741, 2.50%, 6/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120068 |
| &nbsp;&nbsp;&nbsp;&nbsp;191460 | Pool #BQ7523, 2.00%, 11/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152908 |
| &nbsp;&nbsp;&nbsp;&nbsp;278341 | Pool #BQ7524, 2.50%, 10/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234303 |
| &nbsp;&nbsp;1375900 | Pool #BR2051, 2.50%, 6/1/51 | &nbsp;&nbsp;&nbsp;1148340 |
| &nbsp;&nbsp;&nbsp;&nbsp;300000 | Pool #BS0915, 1.62%, 3/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254596 |
| &nbsp;&nbsp;3500000 | Pool #BS1730, 1.53%, 4/1/28 | &nbsp;&nbsp;&nbsp;3264299 |
| &nbsp;&nbsp;1575000 | Pool #BS9741, 5.16%, 10/1/28 | &nbsp;&nbsp;&nbsp;1619780 |
| &nbsp;&nbsp;2500000 | Pool #BS9849, 4.97%, 11/1/28 | &nbsp;&nbsp;&nbsp;2558954 |
| &nbsp;&nbsp;6973564 | Pool #BT1616, 2.00%, 4/1/51 | &nbsp;&nbsp;&nbsp;5567205 |
| &nbsp;&nbsp;1417417 | Pool #BT8237, 4.00%, 6/1/52 | &nbsp;&nbsp;&nbsp;1322009 |
| &nbsp;&nbsp;3500000 | Pool #BZ0523, 4.50%, 2/1/29 | &nbsp;&nbsp;&nbsp;3540619 |
| &nbsp;&nbsp;2520647 | Pool #BZ0624, 4.87%, 3/1/29 | &nbsp;&nbsp;&nbsp;2576027 |
| &nbsp;&nbsp;3019000 | Pool #BZ0636, 5.22%, 6/1/31 | &nbsp;&nbsp;&nbsp;3155141 |
| &nbsp;&nbsp;2225000 | Pool #BZ1147, 4.78%, 6/1/29 | &nbsp;&nbsp;&nbsp;2270740 |
| &nbsp;&nbsp;2470000 | Pool #BZ2120, 4.36%, 10/1/29 | &nbsp;&nbsp;&nbsp;2486263 |
| &nbsp;&nbsp;1875000 | Pool #BZ2581, 4.81%, 12/1/29 | &nbsp;&nbsp;&nbsp;1917115 |
| &nbsp;&nbsp;1610000 | Pool #BZ2936, 4.58%, 1/1/30 | &nbsp;&nbsp;&nbsp;1632252 |
| &nbsp;&nbsp;2800000 | Pool #BZ3608, 4.66%, 4/1/30 | &nbsp;&nbsp;&nbsp;2847666 |
| &nbsp;&nbsp;1322000 | Pool #BZ3654, 5.29%, 5/1/30 | &nbsp;&nbsp;&nbsp;1370120 |
| &nbsp;&nbsp;2000000 | Pool #BZ3698, 4.66%, 2/1/30 | &nbsp;&nbsp;&nbsp;2023790 |
| &nbsp;&nbsp;1534000 | Pool #BZ3699, 4.66%, 2/1/30 | &nbsp;&nbsp;&nbsp;1552247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30039 | Pool #CA1066, 4.00%, 1/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28423 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20764 | Pool #CA1068, 3.50%, 1/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19041 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33952 | Pool #CA2595, 4.50%, 11/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33041 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61176 | Pool #CA2912, 4.00%, 12/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57986 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42839 | Pool #CA3132, 4.00%, 2/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40531 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42567 | Pool #CA3174, 4.00%, 2/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40300 |
| &nbsp;&nbsp;&nbsp;&nbsp;253713 | Pool #CA3451, 3.50%, 5/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231128 |
| &nbsp;&nbsp;&nbsp;&nbsp;183539 | Pool #CA3456, 3.50%, 5/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167625 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Impact Bond Fund (cont.)

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| &nbsp;&nbsp;&nbsp;$306296 | Pool #CA9048, 2.00%, 2/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;$244301 |
| &nbsp;&nbsp;&nbsp;&nbsp;955722 | Pool #CB0480, 2.50%, 5/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;797655 |
| &nbsp;&nbsp;&nbsp;&nbsp;353848 | Pool #CB0576, 2.50%, 5/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;296605 |
| &nbsp;&nbsp;1357371 | Pool #CB2761, 3.00%, 2/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;1180783 |
| &nbsp;&nbsp;2097736 | Pool #CB3227, 3.50%, 3/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;1892884 |
| &nbsp;&nbsp;2500780 | Pool #CB3764, 4.00%, 6/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;2332450 |
| &nbsp;&nbsp;1816669 | Pool #CB3797, 4.00%, 6/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;1694387 |
| &nbsp;&nbsp;2068993 | Pool #CB4272, 4.50%, 7/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;1984878 |
| &nbsp;&nbsp;1826257 | Pool #CB4314, 4.50%, 8/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;1752010 |
| &nbsp;&nbsp;1804915 | Pool #CB4463, 4.50%, 8/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;1731396 |
| &nbsp;&nbsp;1796773 | Pool #CB4767, 5.00%, 9/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;1770497 |
| &nbsp;&nbsp;2140639 | Pool #CB4967, 5.50%, 10/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;2153461 |
| &nbsp;&nbsp;1370408 | Pool #CB5166, 6.00%, 11/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;1399181 |
| &nbsp;&nbsp;&nbsp;&nbsp;436875 | Pool #CB5202, 6.50%, 11/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;452973 |
| &nbsp;&nbsp;&nbsp;&nbsp;872894 | Pool #CB5220, 6.50%, 12/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;904526 |
| &nbsp;&nbsp;1341108 | Pool #CB6607, 5.50%, 7/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;1343003 |
| &nbsp;&nbsp;1862539 | Pool #CB6783, 5.00%, 7/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;1831205 |
| &nbsp;&nbsp;1991646 | Pool #CB6784, 5.50%, 7/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;2004374 |
| &nbsp;&nbsp;1954642 | Pool #CB6826, 5.50%, 7/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;1965377 |
| &nbsp;&nbsp;1903090 | Pool #CB7160, 6.50%, 9/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;1965502 |
| &nbsp;&nbsp;2059473 | Pool #CB9076, 5.50%, 8/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;2069261 |
|  |  | &nbsp;&nbsp;&nbsp;89751628 |
| **Freddie Mac — 7.4%** | **Freddie Mac — 7.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37202 | Pool #Q59453, 4.00%, 11/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35189 |
| &nbsp;&nbsp;&nbsp;&nbsp;167061 | Pool #QB5731, 2.00%, 11/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133422 |
| &nbsp;&nbsp;&nbsp;&nbsp;186304 | Pool #QB5732, 2.50%, 11/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155900 |
| &nbsp;&nbsp;&nbsp;&nbsp;844445 | Pool #QC3844, 2.00%, 6/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;671997 |
| &nbsp;&nbsp;&nbsp;&nbsp;242340 | Pool #QC3845, 2.50%, 6/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202184 |
| &nbsp;&nbsp;&nbsp;&nbsp;927256 | Pool #QC7895, 2.00%, 9/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;737250 |
| &nbsp;&nbsp;&nbsp;&nbsp;659243 | Pool #QE4428, 4.00%, 6/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;614869 |
| &nbsp;&nbsp;1790557 | Pool #QE6510, 4.50%, 7/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;1717899 |
| &nbsp;&nbsp;1828422 | Pool #QG5944, 5.00%, 6/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;1806534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49085 | Pool #RA1713, 3.00%, 11/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76678 | Pool #RA1714, 3.00%, 11/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67257 |
| &nbsp;&nbsp;&nbsp;&nbsp;127313 | Pool #RA2256, 3.00%, 3/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111591 |
| &nbsp;&nbsp;&nbsp;&nbsp;167938 | Pool #RA2340, 3.00%, 3/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147147 |
| &nbsp;&nbsp;&nbsp;&nbsp;147844 | Pool #RA2395, 2.50%, 4/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124037 |
| &nbsp;&nbsp;&nbsp;&nbsp;378668 | Pool #RA2575, 2.50%, 5/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317575 |
| &nbsp;&nbsp;&nbsp;&nbsp;132681 | Pool #RA2727, 2.00%, 5/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106196 |
| &nbsp;&nbsp;&nbsp;&nbsp;131670 | Pool #RA2728, 2.50%, 5/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110386 |
| &nbsp;&nbsp;&nbsp;&nbsp;333731 | Pool #RA2740, 2.50%, 6/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;281446 |
| &nbsp;&nbsp;&nbsp;&nbsp;260293 | Pool #RA3680, 2.50%, 9/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217975 |
| &nbsp;&nbsp;&nbsp;&nbsp;183980 | Pool #RA3751, 2.00%, 10/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147853 |
| &nbsp;&nbsp;&nbsp;&nbsp;299630 | Pool #RA4503, 2.00%, 2/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238984 |
| &nbsp;&nbsp;&nbsp;&nbsp;287144 | Pool #RA4927, 2.00%, 3/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228906 |
| &nbsp;&nbsp;&nbsp;&nbsp;422435 | Pool #RA5020, 2.00%, 4/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;336610 |
| &nbsp;&nbsp;1131870 | Pool #RA5195, 2.50%, 5/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;939376 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Impact Bond Fund (cont.)

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| &nbsp;&nbsp;&nbsp;$767024 | Pool #RA5197, 2.50%, 5/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;$640404 |
| &nbsp;&nbsp;&nbsp;&nbsp;442993 | Pool #RA5237, 2.50%, 5/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;369864 |
| &nbsp;&nbsp;1334946 | Pool #RA5571, 2.50%, 7/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;1113332 |
| &nbsp;&nbsp;&nbsp;&nbsp;199261 | Pool #RA5621, 2.50%, 8/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166182 |
| &nbsp;&nbsp;&nbsp;&nbsp;674834 | Pool #RA5701, 2.00%, 8/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;536553 |
| &nbsp;&nbsp;&nbsp;&nbsp;182199 | Pool #RA5874, 2.50%, 9/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151839 |
| &nbsp;&nbsp;2228716 | Pool #RA6108, 3.50%, 3/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;2011245 |
| &nbsp;&nbsp;1782067 | Pool #RA6760, 3.00%, 2/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;1550228 |
| &nbsp;&nbsp;1899680 | Pool #RA7454, 4.00%, 6/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;1771517 |
| &nbsp;&nbsp;1624577 | Pool #RA7714, 4.50%, 7/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;1558654 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43509 | Pool #V84506, 4.00%, 7/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39846 | Pool #V84836, 4.00%, 11/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37692 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58752 | Pool #V85365, 3.50%, 4/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54004 |
| &nbsp;&nbsp;&nbsp;&nbsp;170680 | Pool #V85381, 3.50%, 4/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156244 |
| &nbsp;&nbsp;1969304 | Pool #WA4461, 4.72%, 1/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;2006955 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31148 | Series 2018-SB45, Class A10F, 3.16%, 11/25/27(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42163 | Series 2018-SB48, Class A10F, 3.37%, 2/25/28(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41363 |
| &nbsp;&nbsp;&nbsp;&nbsp;125449 | Series 2019-SB59, Class A10F, 3.47%, 1/25/29(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122819 |
| &nbsp;&nbsp;&nbsp;&nbsp;871857 | Series 2021-SB87, Class A5H, 0.78%, 4/25/41(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;844314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35776 | Series KF57, Class A, (SOFR30A + 0.654%), 4.97%, 12/25/28(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35824 |
| &nbsp;&nbsp;&nbsp;&nbsp;294694 | Series Q014, Class A1, 1.56%, 1/25/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247168 |
|  |  | &nbsp;&nbsp;&nbsp;22981438 |
| **Ginnie Mae — 0.0%** | **Ginnie Mae — 0.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52378 | Pool #AC3667, 1.66%, 8/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49797 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20678 | Pool #BB3740, 4.00%, 11/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19618 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54417 | Pool #BE3008, 4.00%, 4/20/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51495 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28059 | Series 2018-2, Class AD, 2.40%, 3/16/59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17555 | Series 2018-26, Class AD, 2.50%, 3/16/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16537 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161995 |
| **Small Business Administration — 2.3%** | **Small Business Administration — 2.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;263605 | Pool #130612, 10.63%, 5/25/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303245 |
| &nbsp;&nbsp;&nbsp;&nbsp;645734 | Pool #130613, 10.88%, 10/25/34(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;749724 |
| &nbsp;&nbsp;&nbsp;&nbsp;159640 | Pool #130614, 10.61%, 3/25/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181687 |
| &nbsp;&nbsp;&nbsp;&nbsp;139654 | Pool #530566, (Prime Index + 1.625%), 9.13%, 5/25/34(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152130 |
| &nbsp;&nbsp;&nbsp;&nbsp;525789 | Pool #530677, (Prime Index + 3.605%), 11.11%, 10/25/34(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;605709 |
| &nbsp;&nbsp;&nbsp;&nbsp;251467 | Pool #530704, (Prime Index + 0.855%), 8.36%, 12/25/34(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272379 |
| &nbsp;&nbsp;&nbsp;&nbsp;459214 | Pool #530708, (Prime Index + 1.605%), 9.11%, 12/25/34(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;505611 |
| &nbsp;&nbsp;&nbsp;&nbsp;470482 | Pool #530710, (Prime Index + 1.855%), 9.36%, 12/25/34(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520836 |
| &nbsp;&nbsp;&nbsp;&nbsp;257554 | Pool #530756, (Prime Index + 3.355%), 10.86%, 3/25/35(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;296976 |
| &nbsp;&nbsp;&nbsp;&nbsp;810742 | Pool #530757, (Prime Index + 1.855%), 9.36%, 2/25/35(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;898327 |
| &nbsp;&nbsp;&nbsp;&nbsp;695377 | Pool #530759, (Prime Index + 1.605%), 9.11%, 2/25/35(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;766332 |
| &nbsp;&nbsp;&nbsp;&nbsp;472018 | Pool #530790, (Prime Index + 1.605%), 9.11%, 4/25/35(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520561 |
| &nbsp;&nbsp;&nbsp;&nbsp;185569 | Pool #530791, (Prime Index + 1.855%), 9.36%, 4/25/35(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205783 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;5979300 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Impact Bond Fund (cont.)

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| **U.S. International Development Finance Corp. — 0.2%** | **U.S. International Development Finance Corp. — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;$500000 | Series AA-1, 0.00%, 1/17/26(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$562472 |
| **Total U.S. Government Agency Backed Mortgages** | **Total U.S. Government Agency Backed Mortgages** | &nbsp;&nbsp;&nbsp;**119436833** |
| (Cost $124,435,965) | (Cost $124,435,965) |  |
| **Corporate Bonds — 25.6%** | **Corporate Bonds — 25.6%** |  |
| **Consumer, Non-cyclical — 17.5%** | **Consumer, Non-cyclical — 17.5%** |  |
| &nbsp;&nbsp;2200000 | AbbVie, Inc., 4.80%, 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2243043 |
| &nbsp;&nbsp;3500000 | Amgen, Inc., 5.25%, 3/2/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3584622 |
| &nbsp;&nbsp;2892000 | Astrazeneca Finance LLC, 1.75%, 5/28/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2711771 |
| &nbsp;&nbsp;&nbsp;&nbsp;490000 | Astrazeneca Finance LLC, 2.25%, 5/28/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438564 |
| &nbsp;&nbsp;2650000 | Astrazeneca Finance LLC, 5.00%, 2/26/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2701805 |
| &nbsp;&nbsp;2780000 | Becton Dickinson & Co., 5.08%, 6/7/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2841563 |
| &nbsp;&nbsp;2500000 | Bristol-Myers Squibb Co., 4.90%, 2/22/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2559808 |
| &nbsp;&nbsp;&nbsp;&nbsp;995000 | DH Europe Finance II Sarl, 2.60%, 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;929085 |
| &nbsp;&nbsp;&nbsp;&nbsp;100000 | Doris Duke Charitable Foundation (The), Series 2020, 2.35%, 7/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56632 |
| &nbsp;&nbsp;3100000 | Elevance Health, Inc., 5.15%, 6/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3191184 |
| &nbsp;&nbsp;1700000 | Eli Lilly & Co., 4.75%, 2/12/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1743551 |
| &nbsp;&nbsp;1500000 | Gilead Sciences, Inc., 3.65%, 3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1491754 |
| &nbsp;&nbsp;2500000 | GlaxoSmithKline Capital, Inc., 3.88%, 5/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2488821 |
| &nbsp;&nbsp;2114000 | Haleon US Capital LLC, 3.63%, 3/24/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1977598 |
| &nbsp;&nbsp;2300000 | HCA, Inc., 5.00%, 3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2333050 |
| &nbsp;&nbsp;1861000 | HCA, Inc., 5.45%, 9/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1875159 |
| &nbsp;&nbsp;2250000 | IQVIA, Inc., 6.25%, 2/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2351168 |
| &nbsp;&nbsp;&nbsp;&nbsp;400000 | John D and Catherine T MacArthur Foundation, 1.30%, 12/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337108 |
| &nbsp;&nbsp;1300000 | Johnson & Johnson, 4.70%, 3/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1330418 |
| &nbsp;&nbsp;2500000 | Kenvue, Inc., 5.00%, 3/22/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2576618 |
| &nbsp;&nbsp;1200000 | Mary Free Bed Rehabilitation Hospital, Series 2021, 3.79%, 4/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;871840 |
| &nbsp;&nbsp;&nbsp;&nbsp;250000 | Medtronic, Inc., 4.38%, 3/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241842 |
| &nbsp;&nbsp;2500000 | Reckitt Benckiser Treasury Services Plc, 3.00%, 6/26/27(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2445844 |
| &nbsp;&nbsp;1940000 | Royalty Pharma Plc, 5.15%, 9/2/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1978856 |
| &nbsp;&nbsp;1665000 | Solventum Corp., 5.45%, 2/25/27(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1687810 |
| &nbsp;&nbsp;2250000 | Thermo Fisher Scientific, Inc., 2.00%, 10/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1962004 |
| &nbsp;&nbsp;2500000 | UnitedHealth Group, Inc., 4.90%, 4/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2539933 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;51491451 |
| **Financial — 4.1%** | **Financial — 4.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;350000 | Andrew W Mellon Foundation (The), Series 2020, 0.95%, 8/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;328946 |
| &nbsp;&nbsp;&nbsp;&nbsp;250000 | BlueHub Loan Fund, Inc., Series 2020, 2.89%, 1/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244548 |
| &nbsp;&nbsp;1600000 | Bridge Housing Corp., 3.25%, 7/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1466403 |
| &nbsp;&nbsp;&nbsp;&nbsp;250000 | Community Preservation Corp. (The), Series 2020, 2.87%, 2/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227078 |
| &nbsp;&nbsp;1400000 | HA Sustainable Infrastructure Capital, Inc., 6.15%, 1/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1416270 |
| &nbsp;&nbsp;2100000 | Healthcare Realty Holdings LP, REIT, 2.40%, 3/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1875030 |
| &nbsp;&nbsp;&nbsp;&nbsp;590000 | Low Income Investment Fund, Series 2019, 3.39%, 7/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;585966 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Impact Bond Fund (cont.)

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| $1300000 | Low Income Investment Fund, Series 2019, 3.71%, 7/1/29 | &nbsp;&nbsp;$1206021 |
| &nbsp;&nbsp;2160000 | Preservation of Affordable Housing, Inc., 4.48%, 12/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;2121927 |
| &nbsp;&nbsp;2500000 | Reinvestment Fund, Inc. (The), 3.93%, 2/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;2486442 |
|  |  | &nbsp;&nbsp;&nbsp;11958631 |
| **Industrial — 1.5%** | **Industrial — 1.5%** |  |
| &nbsp;&nbsp;2600000 | Agilent Technologies, Inc., 2.75%, 9/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;2435463 |
| &nbsp;&nbsp;1000000 | Nature Conservancy (The), Series A, 0.94%, 7/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;965158 |
| &nbsp;&nbsp;1000000 | Nature Conservancy (The), Series A, 1.15%, 7/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;931525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 | Nature Conservancy (The), Series A, 1.51%, 7/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53000 | Nature Conservancy (The), Series A, 1.86%, 7/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43226 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;4438092 |
| **Utilities — 2.5%** | **Utilities — 2.5%** |  |
| &nbsp;&nbsp;3150000 | American Water Capital Corp., 4.45%, 6/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;3110661 |
| &nbsp;&nbsp;2720000 | American Water Capital Corp., 5.25%, 3/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;2755827 |
| &nbsp;&nbsp;1350000 | Avangrid, Inc., 3.80%, 6/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;1318228 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;7184716 |
| **Total Corporate Bonds** | **Total Corporate Bonds** | &nbsp;&nbsp;&nbsp;**75072890** |
| (Cost $76,091,357) | (Cost $76,091,357) |  |
| **Municipal Bonds — 15.1%** | **Municipal Bonds — 15.1%** |  |
| **Alabama — 0.2%** | **Alabama — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;730000 | Water Works Board of the City of Birmingham Revenue, 2.39%, 1/1/35, Callable 7/1/31 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;597718 |
| **Arizona — 0.3%** | **Arizona — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;750000 | City of Phoenix Civic Improvement Corp. Revenue, Series C, 1.38%, 7/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;714301 |
| &nbsp;&nbsp;&nbsp;&nbsp;250000 | City of Tucson Water System Revenue, 1.88%, 7/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223985 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;938286 |
| **Arkansas — 0.00%** | **Arkansas — 0.00%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;100000 | City of Russellville Water & Sewer Revenue, Series B, 1.23%, 7/1/26, (Credit Support: BAM) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96989 |
| **California — 4.6%** | **California — 4.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;250000 | California Health Facilities. Financing Authority Revenue, 1.68%, 6/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232958 |
| &nbsp;&nbsp;&nbsp;&nbsp;815000 | California Health Facilities. Financing Authority Revenue, 1.98%, 6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;728141 |
| &nbsp;&nbsp;&nbsp;&nbsp;990000 | California Health Facilities. Financing Authority Revenue, 2.53%, 6/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;813167 |
| &nbsp;&nbsp;&nbsp;&nbsp;460000 | Calleguas Municipal Water District Revenue, Series A, 2.52%, 7/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365225 |
| &nbsp;&nbsp;&nbsp;&nbsp;100000 | City & County of San Francisco GO, 1.95%, 6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96114 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Impact Bond Fund (cont.)

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| &nbsp;&nbsp;&nbsp;$100000 | City of Los Angeles Housing GO, Series A, 2.95%, 9/1/28, Callable 9/1/27 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$96596 |
| &nbsp;&nbsp;&nbsp;&nbsp;350000 | City of San Buenaventura Revenue, 1.17%, 1/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;344544 |
| &nbsp;&nbsp;&nbsp;&nbsp;750000 | City of Santa Rosa Wastewater Revenue, Series B, 2.12%, 9/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;659174 |
| &nbsp;&nbsp;&nbsp;&nbsp;300000 | City of Santa Rosa Wastewater Revenue, Series B, 2.32%, 9/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253217 |
| &nbsp;&nbsp;&nbsp;&nbsp;100000 | City of Sunnyvale Wastewater Revenue, Series A, 3.20%, 4/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99343 |
| &nbsp;&nbsp;&nbsp;&nbsp;210000 | Cucamonga Valley Water District Financing Authority Revenue, Series A, 1.54%, 9/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199766 |
| &nbsp;&nbsp;1500000 | Cucamonga Valley Water District Financing Authority Revenue, Series B, 3.60%, 9/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;1490464 |
| &nbsp;&nbsp;&nbsp;&nbsp;150000 | Escondido Joint Powers Financing Authority Revenue, Series B, 2.44%, 9/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149531 |
| &nbsp;&nbsp;&nbsp;&nbsp;150000 | Kern Community College District GO, 2.54%, 11/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147054 |
| &nbsp;&nbsp;&nbsp;&nbsp;240000 | Lancaster Power Authority Revenue, 1.67%, 11/1/27, (Credit Support: AGM) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225905 |
| &nbsp;&nbsp;&nbsp;&nbsp;285000 | Lancaster Power Authority Revenue, 1.92%, 11/1/28, (Credit Support: AGM) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263645 |
| &nbsp;&nbsp;&nbsp;&nbsp;525000 | Lancaster Power Authority Revenue, 2.56%, 11/1/33, (Credit Support: AGM), Callable 11/1/31 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;444146 |
| &nbsp;&nbsp;&nbsp;&nbsp;525000 | Lancaster Power Authority Revenue, 2.68%, 11/1/34, (Credit Support: AGM), Callable 11/1/31 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;437427 |
| &nbsp;&nbsp;&nbsp;&nbsp;755000 | Lancaster Power Authority Revenue, 2.79%, 11/1/35, (Credit Support: AGM), Callable 11/1/31 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;619732 |
| &nbsp;&nbsp;&nbsp;&nbsp;200000 | Rosemead School District GO, Series A, 2.17%, 8/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199581 |
| &nbsp;&nbsp;&nbsp;&nbsp;250000 | Rowland Water District Revenue, Series A, 1.61%, 12/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224498 |
| &nbsp;&nbsp;1000000 | Rowland Water District Revenue, Series A, 1.91%, 12/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;861849 |
| &nbsp;&nbsp;&nbsp;&nbsp;800000 | Rowland Water District Revenue, Series A, 2.56%, 12/1/36, Callable 12/1/31 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;632196 |
| &nbsp;&nbsp;&nbsp;&nbsp;125000 | San Diego County Water Authority Revenue, Series A, 1.17%, 5/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118876 |
| &nbsp;&nbsp;&nbsp;&nbsp;100000 | San Francisco City & County Public Utilities Commission Wastewater Revenue, 5.40%, 10/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102111 |
| &nbsp;&nbsp;&nbsp;&nbsp;400000 | Santa Clara Valley Water District Certificate Participation, Series D, 1.78%, 6/1/31, Callable 6/1/30 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349103 |
| &nbsp;&nbsp;1060000 | Santa Clara Valley Water District Certificate Participation, Series D, 1.88%, 6/1/32, Callable 6/1/30 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;904312 |
| &nbsp;&nbsp;&nbsp;&nbsp;950000 | Santa Clara Valley Water District Certificate Participation, Series D, 2.08%, 6/1/34, Callable 6/1/30 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775565 |
| &nbsp;&nbsp;&nbsp;&nbsp;600000 | Sonoma-Marin Area Rail Transit District Revenue, Series A, 2.02%, 3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570122 |
| &nbsp;&nbsp;&nbsp;&nbsp;100000 | State of California Department of Water Resources Revenue, 0.92%, 12/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95767 |
| &nbsp;&nbsp;&nbsp;&nbsp;315000 | Walnut Valley Water District Revenue, Series A, 0.96%, 6/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306340 |
| &nbsp;&nbsp;&nbsp;&nbsp;320000 | Walnut Valley Water District Revenue, Series A, 1.17%, 6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303965 |
| &nbsp;&nbsp;&nbsp;&nbsp;325000 | Walnut Valley Water District Revenue, Series A, 1.37%, 6/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302263 |
|  |  | &nbsp;&nbsp;&nbsp;13412697 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Impact Bond Fund (cont.)

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| **Colorado — 0.8%** | **Colorado — 0.8%** |  |
| $1950000 | Colorado Housing and Finance Authority Revenue, Series B, 4.60%, 12/1/27 | $1965491 |
| &nbsp;&nbsp;&nbsp;&nbsp;275000 | Parker Water & Sanitation District GO, 2.10%, 8/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255442 |
|  |  | &nbsp;&nbsp;&nbsp;2220933 |
| **Connecticut — 1.1%** | **Connecticut — 1.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;325000 | Connecticut Green Bank Revenue, 1.95%, 11/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303285 |
| &nbsp;&nbsp;2775000 | Connecticut Housing Finance Authority Revenue, Series B, 4.80%, 5/15/28, Callable 11/15/26 @ 100 | &nbsp;&nbsp;&nbsp;2792567 |
|  |  | &nbsp;&nbsp;&nbsp;3095852 |
| **District of Columbia — 0.6%** | **District of Columbia — 0.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;155000 | District of Columbia Housing Finance Agency Revenue, Series A, 1.15%, 9/1/25, (Credit Support: FHA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154124 |
| &nbsp;&nbsp;&nbsp;&nbsp;350000 | District of Columbia Housing Finance Agency Revenue, Series A, 1.20%, 3/1/26, (Credit Support: FHA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;342610 |
| &nbsp;&nbsp;&nbsp;&nbsp;195000 | District of Columbia Housing Finance Agency Revenue, Series A, 1.50%, 3/1/27, (Credit Support: FHA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186430 |
| &nbsp;&nbsp;&nbsp;&nbsp;195000 | District of Columbia Housing Finance Agency Revenue, Series A, 1.60%, 9/1/27, (Credit Support: FHA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184523 |
| &nbsp;&nbsp;&nbsp;&nbsp;200000 | District of Columbia Housing Finance Agency Revenue, Series A, 1.70%, 3/1/28, (Credit Support: FHA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187297 |
| &nbsp;&nbsp;&nbsp;&nbsp;135000 | District of Columbia Housing Finance Agency Revenue, Series A, 1.75%, 9/1/28, (Credit Support: FHA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124981 |
| &nbsp;&nbsp;&nbsp;&nbsp;140000 | District of Columbia Housing Finance Agency Revenue, Series A, 1.95%, 9/1/29, (Credit Support: FHA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127026 |
| &nbsp;&nbsp;&nbsp;&nbsp;590000 | District of Columbia Housing Finance Agency Revenue, Series A, 2.15%, 3/1/31, (Credit Support: FHA), Callable 3/1/30 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;516933 |
|  |  | &nbsp;&nbsp;&nbsp;1823924 |
| **Florida — 0.6%** | **Florida — 0.6%** |  |
| &nbsp;&nbsp;2000000 | City of Palm Coast Utility Revenue, 1.44%, 10/1/28 | &nbsp;&nbsp;&nbsp;1843432 |
| **Georgia — 0.2%** | **Georgia — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;285000 | Carroll County Water Authority Revenue, Series B, 1.51%, 7/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;271880 |
| &nbsp;&nbsp;&nbsp;&nbsp;425000 | Tift County Hospital Authority Revenue, 1.05%, 12/1/25, (Credit Support: County Guaranteed) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;418973 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;690853 |
| **Hawaii — 0.3%** | **Hawaii — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;695000 | City & County of Honolulu GO, Series C, 1.47%, 7/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;644014 |
| &nbsp;&nbsp;&nbsp;&nbsp;250000 | Honolulu City & County Board of Water Supply Revenue, Series B, 1.98%, 7/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240897 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;884911 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Impact Bond Fund (cont.)

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| **Idaho — 0.1%** | **Idaho — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;$500000 | Idaho Energy Resources Authority Revenue, 2.86%, 9/1/46 | &nbsp;&nbsp;&nbsp;$342071 |
| **Iowa — 0.00%** | **Iowa — 0.00%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;100000 | Northeast Iowa Community College GO, Series 1, 3.45%, 6/1/26, Callable 7/31/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99415 |
| **Maryland — 0.1%** | **Maryland — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;225000 | City of Baltimore Revenue, Series B, 1.58%, 7/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209587 |
| **Massachusetts — 0.5%** | **Massachusetts — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;600000 | Boston Water & Sewer Commission Revenue, 1.37%, 11/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;566620 |
| &nbsp;&nbsp;1040000 | Massachusetts Bay Transportation Authority Sales Tax Revenue, Series B, 2.49%, 7/1/33, Callable 7/1/31 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;893696 |
|  |  | &nbsp;&nbsp;&nbsp;1460316 |
| **Michigan — 0.7%** | **Michigan — 0.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;750000 | City of Grand Rapids Sanitary Sewer System Revenue, 1.86%, 1/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;662020 |
| &nbsp;&nbsp;1330000 | City of Grand Rapids Sanitary Sewer System Revenue, 2.01%, 1/1/32, Callable 1/1/31 @ 100 | &nbsp;&nbsp;&nbsp;1152099 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95000 | Marquette Brownfield Redevelopment Authority Revenue, 3.05%, 5/1/27, (Credit Support: Municipal Government Guaranteed), Callable 5/1/26 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92801 |
| &nbsp;&nbsp;&nbsp;&nbsp;225000 | State of Michigan GO, Series B, 1.54%, 5/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199827 |
|  |  | &nbsp;&nbsp;&nbsp;2106747 |
| **Nebraska — 0.1%** | **Nebraska — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;100000 | City of Omaha Sewer Revenue, Series B, 1.04%, 4/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97632 |
| &nbsp;&nbsp;&nbsp;&nbsp;250000 | Papio-Missouri River Natural Resource District Special Tax, 2.20%, 12/15/25, Callable 7/31/25 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247559 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345191 |
| **Nevada — 0.1%** | **Nevada — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;250000 | City of Henderson GO, Series A, 2.23%, 6/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237678 |
| **New York — 0.3%** | **New York — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;600000 | Western Nassau County Water Authority Revenue, Series B, 2.50%, 4/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;487428 |
| &nbsp;&nbsp;&nbsp;&nbsp;500000 | Western Nassau County Water Authority Revenue, Series B, 2.58%, 4/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;397256 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;884684 |
| **Ohio — 0.00%** | **Ohio — 0.00%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;130000 | City of Cincinnati Revenue, Series C, 3.95%, 11/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129704 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Impact Bond Fund (cont.)

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| **Oklahoma — 0.5%** | **Oklahoma — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;$715000 | Oklahoma Capitol Improvement Authority Revenue, Series A, 2.58%, 7/1/28 | &nbsp;&nbsp;&nbsp;$682410 |
| &nbsp;&nbsp;&nbsp;&nbsp;745000 | Oklahoma Capitol Improvement Authority Revenue, Series A, 2.63%, 7/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700024 |
|  |  | &nbsp;&nbsp;&nbsp;1382434 |
| **Oregon — 0.6%** | **Oregon — 0.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;350000 | City of Portland GO, Series B, 1.51%, 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;326495 |
| &nbsp;&nbsp;&nbsp;&nbsp;300000 | City of Tigard Water Revenue, 2.00%, 8/1/28, (Credit Support: BAM) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;281300 |
| &nbsp;&nbsp;&nbsp;&nbsp;345000 | State of Oregon GO, Series F, 1.32%, 6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;328486 |
| &nbsp;&nbsp;&nbsp;&nbsp;700000 | State of Oregon GO, Series B, 3.89%, 5/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;695621 |
|  |  | &nbsp;&nbsp;&nbsp;1631902 |
| **Pennsylvania — 0.3%** | **Pennsylvania — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;185000 | City of Philadelphia Water & Wastewater Revenue, Series A, 3.55%, 10/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182636 |
| &nbsp;&nbsp;&nbsp;&nbsp;825000 | Economy Borough Municipal Authority Revenue, Series A, 1.65%, 12/15/28, (Credit Support: BAM) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;754415 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;937051 |
| **Rhode Island — 0.9%** | **Rhode Island — 0.9%** |  |
| &nbsp;&nbsp;1295000 | Narragansett Bay Commission Revenue, 2.09%, 9/1/30 | &nbsp;&nbsp;&nbsp;1157549 |
| &nbsp;&nbsp;&nbsp;&nbsp;400000 | Narragansett Bay Commission Revenue, 2.26%, 9/1/32, Callable 9/1/30 @ 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;342293 |
| &nbsp;&nbsp;&nbsp;&nbsp;150000 | Rhode Island Infrastructure Bank Revenue, 2.70%, 10/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143309 |
| &nbsp;&nbsp;1000000 | Rhode Island Infrastructure Bank State Revolving Fund Revenue, Series A, 1.40%, 10/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;918761 |
|  |  | &nbsp;&nbsp;&nbsp;2561912 |
| **Tennessee — 0.1%** | **Tennessee — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;160000 | Metropolitan Government of Nashville & Davidson County Water & Sewer Revenue, Series B, 1.47%, 7/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152141 |
| **Texas — 1.1%** | **Texas — 1.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;250000 | City of Houston Combined Utility System Revenue, Series C, 2.05%, 11/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243228 |
| &nbsp;&nbsp;&nbsp;&nbsp;170000 | City of Temple Utility System Revenue, 1.11%, 8/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169539 |
| &nbsp;&nbsp;&nbsp;&nbsp;300000 | City of Temple Utility System Revenue, 1.53%, 8/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285331 |
| &nbsp;&nbsp;&nbsp;&nbsp;690000 | City of Temple Utility System Revenue, 1.80%, 8/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;631382 |
| &nbsp;&nbsp;&nbsp;&nbsp;800000 | Dallas Area Rapid Transit Revenue, 2.18%, 12/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;682996 |
| &nbsp;&nbsp;&nbsp;&nbsp;335000 | Hidalgo County Drain District No 1 GO, Series A, 0.96%, 9/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;333160 |
| &nbsp;&nbsp;&nbsp;&nbsp;275000 | Hidalgo County Drain District No 1 GO, Series A, 1.11%, 9/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265896 |
| &nbsp;&nbsp;&nbsp;&nbsp;225000 | Hidalgo County Drain District No 1 GO, Series A, 1.35%, 9/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213192 |
| &nbsp;&nbsp;&nbsp;&nbsp;130000 | Hidalgo County Drain District No 1 GO, Series A, 1.50%, 9/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120730 |
| &nbsp;&nbsp;&nbsp;&nbsp;300000 | Hidalgo County Drain District No 1 GO, Series A, 1.67%, 9/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;273402 |
|  |  | &nbsp;&nbsp;&nbsp;3218856 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Impact Bond Fund (cont.)

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| **Utah — 0.2%** | **Utah — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;$520000 | Metropolitan Water District of Salt Lake & Sandy Revenue, Series B, 1.52%, 7/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;$485073 |
| **Vermont — 0.00%** | **Vermont — 0.00%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;100000 | Vermont Housing Finance Agency Property Transfer Tax Revenue Revenue, 3.45%, 11/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96151 |
| **Washington — 0.8%** | **Washington — 0.8%** |  |
| &nbsp;&nbsp;2400000 | City of Tacoma Electric System Revenue, Series C, 5.64%, 1/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;2462577 |
| **Total Municipal Bonds** | **Total Municipal Bonds** | &nbsp;&nbsp;&nbsp;**44349085** |
| (Cost $48,592,540) | (Cost $48,592,540) |  |
| **Asset Backed Securities — 11.3%** | **Asset Backed Securities — 11.3%** |  |
| &nbsp;&nbsp;1443358 | ACM Auto Trust, Series 2023-2A, Class B, 9.85%, 6/20/30(e) | &nbsp;&nbsp;&nbsp;&nbsp;1466371 |
| &nbsp;&nbsp;1550000 | Dext ABS LLC, Series 2021-1, Class D, 2.81%, 3/15/29(e) | &nbsp;&nbsp;&nbsp;&nbsp;1527544 |
| &nbsp;&nbsp;1215118 | Lendbuzz Securitization Trust, Series 2022-1A, Class A, 4.22%, 5/17/27(e) | &nbsp;&nbsp;&nbsp;&nbsp;1210074 |
| &nbsp;&nbsp;2016689 | Lendbuzz Securitization Trust, Series 2023-3A, Class A2, 7.50%, 12/15/28(e) | &nbsp;&nbsp;&nbsp;&nbsp;2059957 |
| &nbsp;&nbsp;1000000 | Lendbuzz Securitization Trust, Series 2024-1A, Class B, 6.58%, 9/15/29(e) | &nbsp;&nbsp;&nbsp;&nbsp;1026268 |
| &nbsp;&nbsp;&nbsp;&nbsp;806594 | Lendbuzz Securitization Trust, Series 2024-2A, Class A2, 5.99%, 5/15/29(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;813491 |
| &nbsp;&nbsp;2414000 | Lendbuzz Securitization Trust, Series 2024-2A, Class B, 6.52%, 7/16/29(e) | &nbsp;&nbsp;&nbsp;&nbsp;2492753 |
| &nbsp;&nbsp;1250000 | Lendbuzz Securitization Trust, Series 2025-1A, Class A2, 5.10%, 10/15/30(e) | &nbsp;&nbsp;&nbsp;&nbsp;1254047 |
| &nbsp;&nbsp;1850000 | Lendbuzz Securitization Trust, Series 2025-2A, Class A2, 5.18%, 5/15/30(e) | &nbsp;&nbsp;&nbsp;&nbsp;1854979 |
| &nbsp;&nbsp;3082765 | Luminace Issuer LLC, Series 2022-1, Class B, 5.91%, 7/31/62(e) | &nbsp;&nbsp;&nbsp;&nbsp;3038147 |
| &nbsp;&nbsp;&nbsp;&nbsp;860362 | Sunnova Helios II Issuer LLC, Series 2021-B, Class A, 1.62%, 7/20/48(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;723307 |
| &nbsp;&nbsp;1273503 | Sunnova Helios V Issuer LLC, Series 2021-A, Class A, 1.80%, 2/20/48(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;999239 |
| &nbsp;&nbsp;&nbsp;&nbsp;787667 | Sunnova Helios VII Issuer LLC, Series 2021-C, Class A, 2.03%, 10/20/48(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;651535 |
| &nbsp;&nbsp;&nbsp;&nbsp;196917 | Sunnova Helios VII Issuer LLC, Series 2021-C, Class C, 2.63%, 10/20/48(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102397 |
| &nbsp;&nbsp;1833051 | Sunnova Helios XI Issuer LLC, Series 2023-A, Class B, 5.60%, 5/20/50(e) | &nbsp;&nbsp;&nbsp;&nbsp;1854775 |
| &nbsp;&nbsp;2222514 | Sunnova Helios XIII Issuer LLC, Series 2024-A, Class C, 7.00%, 2/20/51(e) | &nbsp;&nbsp;&nbsp;&nbsp;1682387 |
| &nbsp;&nbsp;3601314 | Sunnova Sol IV Issuer LLC, Series 2022-A, Class C, 3.53%, 2/22/49(e) | &nbsp;&nbsp;&nbsp;&nbsp;2464948 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Impact Bond Fund (cont.)

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| &nbsp;&nbsp;&nbsp;$320000 | Switch ABS Issuer LLC, Series 2024-1A, Class A2, 6.28%, 3/25/54(e) | &nbsp;&nbsp;&nbsp;&nbsp;$330162 |
| &nbsp;&nbsp;&nbsp;&nbsp;825000 | Switch ABS Issuer LLC, Series 2024-2A, Class A2, 5.44%, 6/25/54(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;832550 |
| &nbsp;&nbsp;2320000 | Tricolor Auto Securitization Trust, Series 2022-1A, Class F, 9.80%, 7/16/29(e) | &nbsp;&nbsp;&nbsp;&nbsp;2334207 |
| &nbsp;&nbsp;2200000 | Tricolor Auto Securitization Trust, Series 2024-1A, Class D, 8.61%, 4/17/28(e) | &nbsp;&nbsp;&nbsp;&nbsp;2260315 |
| &nbsp;&nbsp;&nbsp;&nbsp;597666 | Tricolor Auto Securitization Trust, Series 2024-3A, Class A, 5.22%, 6/15/28(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;598327 |
| &nbsp;&nbsp;1500000 | Tricolor Auto Securitization Trust, Series 2024-3A, Class D, 6.34%, 4/16/29(e) | &nbsp;&nbsp;&nbsp;&nbsp;1523935 |
| **Total Asset Backed Securities** | **Total Asset Backed Securities** | &nbsp;&nbsp;&nbsp;**33101715** |
| (Cost $34,522,698) | (Cost $34,522,698) |  |
| **U.S. Government Agency Obligations — 2.5%** | **U.S. Government Agency Obligations — 2.5%** |  |
| **Small Business Administration — 1.3%** | **Small Business Administration — 1.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;447502 | Certificate of Originator's Fee, 0.23%, 3/15/31(a),(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1414 |
| &nbsp;&nbsp;&nbsp;&nbsp;344250 | Certificate of Originator's Fee, 0.23%, 5/15/31(a),(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1088 |
| &nbsp;&nbsp;&nbsp;&nbsp;108364 | Certificate of Originator's Fee, 0.23%, 1/1/34(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;502 |
| &nbsp;&nbsp;&nbsp;&nbsp;179309 | Certificate of Originator's Fee, 0.23%, 3/1/34(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;831 |
| &nbsp;&nbsp;&nbsp;&nbsp;164250 | Certificate of Originator's Fee, 0.23%, 3/1/34(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;762 |
| &nbsp;&nbsp;&nbsp;&nbsp;187500 | Certificate of Originator's Fee, 0.23%, 4/1/34(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;869 |
| &nbsp;&nbsp;&nbsp;&nbsp;187500 | Certificate of Originator's Fee, 0.23%, 4/1/34(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;869 |
| &nbsp;&nbsp;&nbsp;&nbsp;135000 | Certificate of Originator's Fee, 0.23%, 4/1/34(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;626 |
| &nbsp;&nbsp;&nbsp;&nbsp;389700 | Certificate of Originator's Fee, 0.28%, 5/17/46(a),(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2256 |
| &nbsp;&nbsp;&nbsp;&nbsp;450000 | Certificate of Originator's Fee, 0.48%, 9/1/31(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85000 | Certificate of Originator's Fee, 0.48%, 4/1/34(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;822 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48450 | Certificate of Originator's Fee, 0.48%, 4/1/34(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;469 |
| &nbsp;&nbsp;&nbsp;&nbsp;443934 | Certificate of Originator's Fee, 0.53%, 6/15/31(a),(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3234 |
| &nbsp;&nbsp;&nbsp;&nbsp;132635 | Certificate of Originator's Fee, 0.73%, 2/28/34(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2005 |
| &nbsp;&nbsp;&nbsp;&nbsp;262500 | Certificate of Originator's Fee, 0.73%, 3/26/34(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3969 |
| &nbsp;&nbsp;&nbsp;&nbsp;262500 | Certificate of Originator's Fee, 0.73%, 3/28/34(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3969 |
| &nbsp;&nbsp;&nbsp;&nbsp;187500 | Certificate of Originator's Fee, 0.73%, 3/28/34(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2835 |
| &nbsp;&nbsp;&nbsp;&nbsp;222833 | Certificate of Originator's Fee, 0.78%, 4/15/31(a),(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2389 |
| &nbsp;&nbsp;1350000 | Certificate of Originator's Fee, 0.78%, 7/15/31(a),(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14471 |
| &nbsp;&nbsp;&nbsp;&nbsp;495000 | Certificate of Originator's Fee, 0.78%, 8/15/31(a),(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5306 |
| &nbsp;&nbsp;&nbsp;&nbsp;103500 | Certificate of Originator's Fee, 0.78%, 8/15/31(a),(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1109 |
| &nbsp;&nbsp;&nbsp;&nbsp;404563 | Certificate of Originator's Fee, 1.03%, 4/15/46(a),(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8617 |
| &nbsp;&nbsp;&nbsp;&nbsp;346986 | Certificate of Originator's Fee, 1.23%, 5/10/31(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8184 |
| &nbsp;&nbsp;&nbsp;&nbsp;270000 | Certificate of Originator's Fee, 1.23%, 8/2/31(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6368 |
| &nbsp;&nbsp;&nbsp;&nbsp;139500 | Certificate of Originator's Fee, 1.23%, 9/16/31(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3290 |
| &nbsp;&nbsp;&nbsp;&nbsp;940950 | Certificate of Originator's Fee, 1.28%, 4/7/46(a),(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24907 |
| &nbsp;&nbsp;&nbsp;&nbsp;437400 | Certificate of Originator's Fee, 1.28%, 6/23/46(a),(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11578 |
| &nbsp;&nbsp;1226700 | Certificate of Originator's Fee, 1.28%, 6/30/46(a),(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36312 |
| &nbsp;&nbsp;&nbsp;&nbsp;212509 | Certificate of Originator's Fee, 1.73%, 9/8/33(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7615 |
| &nbsp;&nbsp;&nbsp;&nbsp;197638 | Certificate of Originator's Fee, 1.73%, 10/27/33(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7082 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Impact Bond Fund (cont.)

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| &nbsp;&nbsp;&nbsp;$149272 | Certificate of Originator's Fee, 1.98%, 8/10/33(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6122 |
| &nbsp;&nbsp;&nbsp;&nbsp;127500 | Certificate of Originator's Fee, 1.98%, 11/16/33(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5229 |
| &nbsp;&nbsp;&nbsp;&nbsp;129939 | Certificate of Originator's Fee, 1.98%, 12/12/33(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5329 |
| &nbsp;&nbsp;&nbsp;&nbsp;186547 | Certificate of Originator's Fee, 1.98%, 12/18/33(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7651 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7064 | (Prime Index - 2.500%), 5.00%, 2/25/28(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7034 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66093 | (Prime Index - 2.500%), 5.00%, 4/25/44(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3670 | (TBA), 5.58%, 9/23/25(a),(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3641 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26983 | (Prime Index - 0.675%), 6.83%, 9/25/43(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27958 |
| &nbsp;&nbsp;&nbsp;&nbsp;108326 | (Prime Index - 0.675%), 6.83%, 11/25/45(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112527 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48895 | 7.08%, 7/25/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48788 |
| &nbsp;&nbsp;&nbsp;&nbsp;112214 | (Prime Index + 0.114%), 7.61%, 1/25/46(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118484 |
| &nbsp;&nbsp;&nbsp;&nbsp;161921 | (Prime Index + 0.325%), 7.83%, 6/25/31(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168356 |
| &nbsp;&nbsp;&nbsp;&nbsp;192253 | (Prime Index + 0.325%), 7.83%, 7/25/31(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199903 |
| &nbsp;&nbsp;&nbsp;&nbsp;215392 | (Prime Index + 0.325%), 7.83%, 2/25/32(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50377 | (Prime Index + 0.325%), 7.83%, 9/25/44(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53240 |
| &nbsp;&nbsp;&nbsp;&nbsp;778657 | (Prime Index + 0.325%), 7.83%, 8/25/46(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;826930 |
| &nbsp;&nbsp;&nbsp;&nbsp;415412 | (Prime Index + 0.375%), 7.88%, 10/25/31(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;433078 |
| &nbsp;&nbsp;&nbsp;&nbsp;427605 | (Prime Index + 0.375%), 7.88%, 8/25/46(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;452917 |
| &nbsp;&nbsp;&nbsp;&nbsp;121849 | (Prime Index + 0.575%), 8.08%, 4/25/31(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126624 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20023 | (Prime Index + 0.586%), 8.09%, 3/25/43(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21053 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9355 | (Prime Index + 0.700%), 8.20%, 2/25/28(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9541 |
| &nbsp;&nbsp;&nbsp;&nbsp;316794 | (Prime Index + 0.825%), 8.33%, 9/25/31(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;332226 |
| &nbsp;&nbsp;&nbsp;&nbsp;210838 | (Prime Index + 0.875%), 8.38%, 1/25/32(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221747 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12496 | (Prime Index + 0.999%), 8.50%, 11/25/28(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12836 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28873 | (Prime Index + 1.232%), 8.73%, 6/25/29(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30013 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16782 | 9.08%, 9/25/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32956 | (Prime Index + 1.575%), 9.08%, 7/25/30(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34549 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34848 | (Prime Index + 2.325%), 9.83%, 10/25/30(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54361 | (Prime Index + 2.325%), 9.83%, 1/25/31(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57990 |
|  |  | &nbsp;&nbsp;&nbsp;3836330 |
| **U.S. International Development Finance Corp. — 1.2%** | **U.S. International Development Finance Corp. — 1.2%** |  |
| &nbsp;&nbsp;1000000 | 1.44%, 4/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;949044 |
| &nbsp;&nbsp;&nbsp;&nbsp;500000 | 1.65%, 4/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476706 |
| &nbsp;&nbsp;2027875 | (US Treasury Bill Yield 3-Month + 0.000%), 4.50%, 7/7/40(b) | &nbsp;&nbsp;&nbsp;2027875 |
|  |  | &nbsp;&nbsp;&nbsp;3453625 |
| **Total U.S. Government Agency Obligations** | **Total U.S. Government Agency Obligations** | &nbsp;&nbsp;&nbsp;**7289955** |
| (Cost $7,930,727) | (Cost $7,930,727) |  |
| **Collateralized Mortgage Obligations — 1.4%** | **Collateralized Mortgage Obligations — 1.4%** |  |
| &nbsp;&nbsp;2800000 | BX Commercial Mortgage Trust, Series 2022-AHP, Class C, (Term SOFR 1M + 2.090%), 6.40%, 1/17/39(b),(e) | &nbsp;&nbsp;&nbsp;2787697 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Impact Bond Fund (cont.)

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| $1550000 | SWCH Commercial Mortgage Trust, Series 2025-DATA, Class D, (Term SOFR 1M + 2.641%), 6.95%, 2/15/42(b),(e) | $1531976 |
| **Total Collateralized Mortgage Obligations** | **Total Collateralized Mortgage Obligations** | &nbsp;&nbsp;&nbsp;**4319673** |
| (Cost $4,335,003) | (Cost $4,335,003) |  |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  |  |
| **Investment Company — 2.8%** | **Investment Company — 2.8%** |  |
| 8149670 | RBC BlueBay U.S. Government Money Market Fund,<br> Institutional Class 1(f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8149670 |
| **Total Investment Company** | **Total Investment Company** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8149670** |
| (Cost $8,149,670) | (Cost $8,149,670) |  |
| **Total Investments** | **Total Investments** | **$291719821** |
| (Cost $304,057,960) — 99.4% | (Cost $304,057,960) — 99.4% |  |
| **Other assets in excess of liabilities — 0.6%** | **Other assets in excess of liabilities — 0.6%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1833707** |
| **NET ASSETS — 100.0%** | **NET ASSETS — 100.0%** | **$293553528** |

---

------

(a) 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.

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

(c) The Pricing Committee has fair valued this security under procedures established by the Fund's Board of Trustees.

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

(e) 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.

(f) Affiliated investment.

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Impact 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** | &nbsp;&nbsp;**Notional<br> Value** | &nbsp;&nbsp;**Notional<br> Value** | &nbsp;&nbsp;**Clearinghouse** |
| 10 Year U.S. Ultra Treasury Bond | &nbsp;&nbsp;&nbsp;&nbsp;49 | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;$142639 | &nbsp;&nbsp;USD | &nbsp;&nbsp;$5599016 | &nbsp;&nbsp;Citigroup Global Markets, Inc. |
| 2 Year U.S. Treasury Note | &nbsp;&nbsp;191 | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96870 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;39732477 | &nbsp;&nbsp;Citigroup Global Markets, Inc. |
| 30 Year U.S. Treasury Bond | &nbsp;&nbsp;142 | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;665179 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;16396563 | &nbsp;&nbsp;Citigroup Global Markets, Inc. |
| 30 Year U.S. Ultra Treasury Bond | &nbsp;&nbsp;154 | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;860942 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;18345250 | &nbsp;&nbsp;Citigroup Global Markets, Inc. |
| 5 Year U.S. Treasury Note | &nbsp;&nbsp;171 | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231953 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;18639000 | &nbsp;&nbsp;Citigroup Global Markets, Inc. |
| **Total** |  |  | &nbsp;&nbsp;$1997583 |  |  |  |

---

---

| |
|:---|
| Abbreviations used are defined below: |
| AGM - Assured Guaranty Municipal Corp. |
| BAM - Bank of America |
| FHA - Insured by Federal Housing Administration |
| GO - General Obligations |
| REIT - Real Estate Investment Trust |
| SOFR - Secured Overnight Financing Rate |
| SOFR30A - Secured Overnight Financing Rate 30 Day Average |
| 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 Impact Bond Fund

- **b. EDGAR series identifier (if any):** S000059868

- **c. LEI of Series:** 549300PDRJN9B3EOEM95

**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:** $296222349.41

**Total Liabilities:** $3389186.94

**Net Assets:** $292833162.47

**Stand-by Commitments:** $2320431.00

**Cash Not Reported:** $4790.47

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00060000 | **1-Year:** -0.00610000 | **5-Year:** -0.01160000 | **10-Year:** -0.01560000 | **30-Year:** -0.00880000

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

- **3-Month:** -0.00070000 | **1-Year:** -0.00640000 | **5-Year:** -0.00500000 | **10-Year:** -0.00820000 | **30-Year:** -0.00310000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000227055 | 0.45%                | -0.93%               | 1.51%                |
| Class ID C000195864 | 0.56%                | -0.93%               | 1.51%                |
| Class ID C000217811 | 0.43%                | -0.84%               | 1.48%                |
| Class ID C000195863 | 0.44%                | -0.93%               | 1.50%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-102474.82              | $674018.97                                 |
| Month 2  | $-15315.00               | $-1831767.12                               |
| Month 3  | $-16624.57               | $2332864.01                                |

**Designated Index Information**

- **Index Name:** Bloomberg Barclays U.S. Aggregate

- **Index Identifier:** ULBF1TRUSD

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140H4Q80<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     42330 | PA      | $40188.82     | 0.01%             | 2047-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| THE REINVESTMENT FUND                       | Reinvestment Fund Inc/The                                                       | CUSIP: 75936LAM6<br>LEI: 254900M05GOONA6Z9I72 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2486441.72   | 0.85%             | 2028-02-15      | Fixed         | 3.93%                 | No            |                  2 | On Loan: No      |
| SBA 7(a) Certificate of Originator's Fee    | SBA 7(a) Certificate of Originator's Fee                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    187500 | PA      | $2835.04      | 0.00%             | 2034-03-28      | Fixed         | 0.73%                 | No            |                  2 | On Loan: No      |
| RAYMOND JAMES BANK, N.A.                    | Small Business Administration Pools                                             | CUSIP: 83164MHN2<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |      9355 | PA      | $9541.15      | 0.00%             | 2028-02-25      | Floating      | 8.20%                 | No            |                  2 | On Loan: No      |
| SIGNATURE BANK                              | Small Business Administration Pools                                             | CUSIP: 83164MTT6<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     50377 | PA      | $53239.72     | 0.02%             | 2044-09-25      | Floating      | 7.83%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3133KPSB5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1624577 | PA      | $1558654.32   | 0.53%             | 2052-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MET GOVT NASHVILLE & DAVIDSON               | Metropolitan Government of Nashville & Davidson County TN Water & Sewer Revenue | CUSIP: 592098X85<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    160000 | PA      | $152140.63    | 0.05%             | 2027-07-01      | Fixed         | 1.47%                 | No            |                  2 | On Loan: No      |
| JOHNSON & JOHNSON                           | Johnson & Johnson                                                               | CUSIP: 478160DJ0<br>LEI: 549300G0CFPGEF6X2043 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1330418.25   | 0.45%             | 2030-03-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| SBA 7(a) Certificate of Originator's Fee    | SBA 7(a) Certificate of Originator's Fee                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    443934 | PA      | $3233.48      | 0.00%             | 2031-06-15      | Floating      | 0.53%                 | No            |                  2 | On Loan: No      |
| (Sunnova) Aurora I Issuer, LLC              | Sunnova Helios VII Issuer LLC                                                   | CUSIP: 86745RAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    196917 | PA      | $102397.16    | 0.03%             | 2048-10-20      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| HIDALGO CNTY TX DRAIN DIST #1               | Hidalgo County Drain District No 1                                              | CUSIP: 429335LS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $265895.79    | 0.09%             | 2026-09-01      | Fixed         | 1.10%                 | No            |                  2 | On Loan: No      |
| PALM COAST FL UTILITY SYS REVE              | City of Palm Coast FL Utility Revenue                                           | CUSIP: 69661KDH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1843432.16   | 0.63%             | 2028-10-01      | Fixed         | 1.44%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3133KMYD1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2228716 | PA      | $2011245.06   | 0.69%             | 2052-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| TIGARD OR WTR SYS REVENUE                   | City of Tigard OR Water Revenue                                                 | CUSIP: 88675ABV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $281299.53    | 0.10%             | 2028-08-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| SBA 7(a) Certificate of Originator's Fee    | SBA 7(a) Certificate of Originator's Fee                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    108364 | PA      | $502.41       | 0.00%             | 2034-01-01      | Fixed         | 0.23%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QQW43<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1370408 | PA      | $1399180.50   | 0.48%             | 2052-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SBA 7(a) Certificate of Originator's Fee    | SBA 7(a) Certificate of Originator's Fee                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     48450 | PA      | $468.79       | 0.00%             | 2034-04-01      | Fixed         | 0.48%                 | No            |                  2 | On Loan: No      |
| PARKER CO WTR & SANTN DIST                  | Parker Water & Sanitation District/CO                                           | CUSIP: 701057BZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $255441.85    | 0.09%             | 2029-08-01      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| MOMENTUS SECURITIES                         | Small Business Administration Pools                                             | CUSIP: 8316A0ZW3<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    257554 | PA      | $296975.99    | 0.10%             | 2035-03-25      | Floating      | 10.86%                | 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        |   8149670 | NS      | $8149670.09   | 2.78%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN WATER CAPITAL C                    | American Water Capital Corp                                                     | CUSIP: 03040WBF1<br>LEI: 5IDHQUFVC8Q2KIBBFF06 | Long             | DBT              | CORP              | US        |   2720000 | PA      | $2755826.53   | 0.94%             | 2035-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TIFT CNTY GA HOSP AUTH                      | Tift County Hospital Authority                                                  | CUSIP: 886640HY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $418973.31    | 0.14%             | 2025-12-01      | Fixed         | 1.05%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3133KLPL5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    287144 | PA      | $228905.84    | 0.08%             | 2051-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3133KHQH2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    127313 | PA      | $111591.19    | 0.04%             | 2050-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QKRA8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    955722 | PA      | $797654.92    | 0.27%             | 2051-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| HIDALGO CNTY TX DRAIN DIST #1               | Hidalgo County Drain District No 1                                              | CUSIP: 429335LT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $213191.74    | 0.07%             | 2027-09-01      | Fixed         | 1.35%                 | No            |                  2 | On Loan: No      |
| ROWLAND CA WTR DIST WTR REVENU              | Rowland Water District                                                          | CUSIP: 779657BC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $861849.29    | 0.29%             | 2031-12-01      | Fixed         | 1.91%                 | No            |                  2 | On Loan: No      |
| MEDTRONIC INC                               | Medtronic Inc                                                                   | CUSIP: 585055BT2<br>LEI: D56MRZY2INAN94ZONZ37 | Long             | DBT              | CORP              | US        |    250000 | PA      | $241842.44    | 0.08%             | 2035-03-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| NATURE CONSERVANCY (THE)                    | Nature Conservancy/The                                                          | CUSIP: 63902HAJ8<br>LEI: 549300GJ1IZME7V1JJ28 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $965158.31    | 0.33%             | 2026-07-01      | Fixed         | 0.94%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140Q93D3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     33952 | PA      | $33041.38     | 0.01%             | 2048-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PORTLAND OR                                 | City of Portland OR                                                             | CUSIP: 736679C25<br>LEI: 254900RPNQMJF9NBMF52 | Long             | DBT              | MUN               | US        |    350000 | PA      | $326495.08    | 0.11%             | 2028-06-15      | Fixed         | 1.51%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Gold Pool                                                           | CUSIP: 3132LA6A5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     58752 | PA      | $54003.88     | 0.02%             | 2049-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| TEMPLE TX UTILITY SYTEM REVENU              | City of Temple TX Utility System Revenue                                        | CUSIP: 880162JA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $285331.31    | 0.10%             | 2027-08-01      | Fixed         | 1.53%                 | No            |                  2 | On Loan: No      |
| FRESB Multifamily Mortgage Pas              | FRESB 2018-SB48 Mortgage Trust                                                  | CUSIP: 30296RAP5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     42163 | PA      | $41363.21     | 0.01%             | 2028-02-25      | Variable      | 3.37%                 | No            |                  2 | On Loan: No      |
| (Sunnova) Aurora I Issuer, LLC              | Sunnova Helios V Issuer LLC                                                     | CUSIP: 86746EAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1273503 | PA      | $999239.55    | 0.34%             | 2048-02-20      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| ASTRAZENECA FINANCE LLC                     | Astrazeneca Finance LLC                                                         | CUSIP: 04636NAN3<br>LEI: 549300C3HATU4Q460S18 | Long             | DBT              | CORP              | US        |   2650000 | PA      | $2701804.74   | 0.92%             | 2034-02-26      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140LBAR4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    300000 | PA      | $254596.28    | 0.09%             | 2031-03-01      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140NWLA1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2470000 | PA      | $2486262.70   | 0.85%             | 2029-10-01      | Fixed         | 4.36%                 | No            |                  2 | On Loan: No      |
| SBA 7(a) Certificate of Originator's Fee    | SBA 7(a) Certificate of Originator's Fee                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    262500 | PA      | $3969.05      | 0.00%             | 2034-03-28      | Fixed         | 0.73%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3133KLAC1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    299630 | PA      | $238984.11    | 0.08%             | 2051-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3133C6S91<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1828422 | PA      | $1806533.50   | 0.62%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3133KHUU8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    147844 | PA      | $124037.06    | 0.04%             | 2050-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                      | UnitedHealth Group Inc                                                          | CUSIP: 91324PFA5<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2539932.83   | 0.87%             | 2031-04-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| SBA 7(a) Certificate of Originator's Fee    | SBA 7(a) Certificate of Originator's Fee                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    187500 | PA      | $869.31       | 0.00%             | 2034-04-01      | Fixed         | 0.23%                 | No            |                  2 | On Loan: No      |
| SIGNATURE BANK                              | Small Business Administration Pools                                             | CUSIP: 83164NAF4<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    121849 | PA      | $126624.17    | 0.04%             | 2031-04-25      | Floating      | 8.07%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140NW2P9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1875000 | PA      | $1917115.34   | 0.65%             | 2029-12-01      | Fixed         | 4.81%                 | No            |                  2 | On Loan: No      |
| BALTIMORE MD REVENUE                        | City of Baltimore MD                                                            | CUSIP: 059231X62<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $209587.06    | 0.07%             | 2028-07-01      | Fixed         | 1.57%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QKUA4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    353848 | PA      | $296605.09    | 0.10%             | 2051-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| HALEON US CAPITAL LLC                       | Haleon US Capital LLC                                                           | CUSIP: 36264FAM3<br>LEI: 549300N8C3A3L0UVQB07 | Long             | DBT              | CORP              | US        |   2114000 | PA      | $1977597.76   | 0.68%             | 2032-03-24      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| OREGON ST                                   | State of Oregon                                                                 | CUSIP: 68609T7K8<br>LEI: 549300R5SUGZRD8KP359 | Long             | DBT              | MUN               | US        |    700000 | PA      | $695621.15    | 0.24%             | 2030-05-01      | Fixed         | 3.89%                 | No            |                  2 | On Loan: No      |
| TUCSON AZ WTR REVENUE                       | City of Tucson AZ Water System Revenue                                          | CUSIP: 898797HY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $223985.29    | 0.08%             | 2030-07-01      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| SBA 7(a) Certificate of Originator's Fee    | SBA 7(a) Certificate of Originator's Fee                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    187500 | PA      | $869.31       | 0.00%             | 2034-04-01      | Fixed         | 0.23%                 | No            |                  2 | On Loan: No      |
| Dext ABS                                    | Dext ABS 2021-1 LLC                                                             | CUSIP: 23345CAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1550000 | PA      | $1527543.65   | 0.52%             | 2029-03-15      | Fixed         | 2.81%                 | No            |                  2 | On Loan: No      |
| LOW INCOME INVESTMENT                       | Low Income Investment Fund                                                      | CUSIP: 54750AAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1206021.22   | 0.41%             | 2029-07-01      | Fixed         | 3.71%                 | No            |                  2 | On Loan: No      |
| SANTA ROSA CA WSTWTR REVENUE                | City of Santa Rosa CA Wastewater Revenue                                        | CUSIP: 802649TS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $253217.38    | 0.09%             | 2033-09-01      | Fixed         | 2.31%                 | No            |                  2 | On Loan: No      |
| Lendbuzz Securitization Trust               | Lendbuzz Securitization Trust 2023-3                                            | CUSIP: 525931AB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2016689 | PA      | $2059957.08   | 0.70%             | 2028-12-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| SIGNATURE BANK                              | Small Business Administration Pools                                             | CUSIP: 8316A0AU4<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    427605 | PA      | $452917.11    | 0.15%             | 2046-08-25      | Floating      | 7.88%                 | No            |                  2 | On Loan: No      |
| SIGNATURE BANK                              | Small Business Administration Pools                                             | CUSIP: 83165BBY7<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     28873 | PA      | $30013.15     | 0.01%             | 2029-06-25      | Floating      | 8.73%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QQX83<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    436875 | PA      | $452972.65    | 0.15%             | 2052-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND INFRASTRUCTURE BA              | Rhode Island Infrastructure Bank                                                | CUSIP: 76222FDJ4<br>LEI: 54930022Z6KOPRSQCG49 | Long             | DBT              | MUN               | US        |    150000 | PA      | $143308.85    | 0.05%             | 2028-10-01      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| ANDREW W MELLON FOUNDATI                    | Andrew W Mellon Foundation/The                                                  | CUSIP: 03444RAB4<br>LEI: HVIJIPOQ5TXYVD3NET54 | Long             | DBT              | CORP              | US        |    350000 | PA      | $328945.64    | 0.11%             | 2027-08-01      | Fixed         | 0.95%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Gold Pool                                                           | CUSIP: 3132LALR1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     39846 | PA      | $37692.23     | 0.01%             | 2048-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RUSSELLVILLE AR WTR & SWR REVE              | City of Russellville AR Water & Sewer Revenue                                   | CUSIP: 782816CH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $96988.72     | 0.03%             | 2026-07-01      | Fixed         | 1.23%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3133KKCR8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    260293 | PA      | $217975.34    | 0.07%             | 2050-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| HCA INC                                     | HCA Inc                                                                         | CUSIP: 404121AK1<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   1861000 | PA      | $1875159.02   | 0.64%             | 2034-09-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| ROYALTY PHARMA PLC                          | Royalty Pharma PLC                                                              | CUSIP: 78081BAQ6<br>LEI: 549300FGFN7VOK8BZR03 | Long             | DBT              | CORP              | GB        |   1940000 | PA      | $1978856.06   | 0.68%             | 2029-09-02      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| GILEAD SCIENCES INC                         | Gilead Sciences Inc                                                             | CUSIP: 375558BF9<br>LEI: 549300WTZWR07K8MNV44 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1491753.84   | 0.51%             | 2026-03-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Tricolor Auto Securitization T              | Tricolor Auto Securitization Trust 2024-3                                       | CUSIP: 89617AAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    597666 | PA      | $598327.27    | 0.20%             | 2028-06-15      | Fixed         | 5.22%                 | No            |                  2 | On Loan: No      |
| SBA 7(a) Certificate of Originator's Fee    | SBA 7(a) Certificate of Originator's Fee                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    212509 | PA      | $7614.82      | 0.00%             | 2033-09-08      | Fixed         | 1.73%                 | No            |                  2 | On Loan: No      |
| HCA INC                                     | HCA Inc                                                                         | CUSIP: 404119CY3<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   2300000 | PA      | $2333050.04   | 0.80%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SBA 7(a) Certificate of Originator's Fee    | SBA 7(a) Certificate of Originator's Fee                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    262500 | PA      | $3969.05      | 0.00%             | 2034-03-26      | Fixed         | 0.73%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA WTR & WSTWTR R              | City of Philadelphia PA Water & Wastewater Revenue                              | CUSIP: 717893K34<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    185000 | PA      | $182636.15    | 0.06%             | 2028-10-01      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3133KMFL4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1334946 | PA      | $1113332.31   | 0.38%             | 2051-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140H6WU9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     35260 | PA      | $33307.74     | 0.01%             | 2048-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3133KJA44<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    132681 | PA      | $106195.74    | 0.04%             | 2050-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| MOMENTUS SECURITIES LLC                     | Small Business Administration Pools                                             | CUSIP: 8316A02Y5<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    472018 | PA      | $520560.85    | 0.18%             | 2035-04-25      | Floating      | 9.11%                 | No            |                  2 | On Loan: No      |
| ECONOMY PA MUNI AUTH SWR REVEN              | Economy Borough Municipal Authority                                             | CUSIP: 27915REJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    825000 | PA      | $754415.02    | 0.26%             | 2028-12-15      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| MOMENTUS SECURITIES LLC                     | Small Business Administration Pools                                             | CUSIP: 8316A0ZZ6<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    695377 | PA      | $766332.40    | 0.26%             | 2035-02-25      | Floating      | 9.11%                 | No            |                  2 | On Loan: No      |
| HOUSTON TX UTILITY SYS REVENUE              | City of Houston TX Combined Utility System Revenue                              | CUSIP: 44244CXQ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $243227.62    | 0.08%             | 2026-11-15      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QAZW3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    183539 | PA      | $167625.41    | 0.06%             | 2049-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140NYDC2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2000000 | PA      | $2023789.80   | 0.69%             | 2030-02-01      | Fixed         | 4.66%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140LLZF1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1575000 | PA      | $1619780.05   | 0.55%             | 2028-10-01      | Fixed         | 5.16%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QPXA0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2068993 | PA      | $1984877.49   | 0.68%             | 2052-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CUCAMONGA VLY WTR DIST FING AU              | Cucamonga Valley Water District Financing Authority                             | CUSIP: 22972PDS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $199765.45    | 0.07%             | 2027-09-01      | Fixed         | 1.54%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QNSR4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2097736 | PA      | $1892883.48   | 0.65%             | 2052-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QNB76<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1357371 | PA      | $1180783.35   | 0.40%             | 2052-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SBA 7(a) Certificate of Originator's Fee    | SBA 7(a) Certificate of Originator's Fee                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    149272 | PA      | $6121.82      | 0.00%             | 2033-08-10      | Fixed         | 1.98%                 | No            |                  2 | On Loan: No      |
| ACM Auto Trust                              | ACM Auto Trust 2023-2                                                           | CUSIP: 00161AAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1443358 | PA      | $1466370.68   | 0.50%             | 2030-06-20      | Fixed         | 9.85%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Commercial Mortgage Trust 2022-AHP                                           | CUSIP: 05610FAD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2800000 | PA      | $2787697.18   | 0.95%             | 2039-01-17      | Floating      | 6.40%                 | No            |                  2 | On Loan: No      |
| NARRAGANSETT BAY RI COMMISSION              | Narragansett Bay Commission                                                     | CUSIP: 631060CT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $342293.30    | 0.12%             | 2032-09-01      | Fixed         | 2.26%                 | No            |                  2 | On Loan: No      |
| TACOMA WA ELEC SYS REVENUE                  | City of Tacoma WA Electric System Revenue                                       | CUSIP: 873519MN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2400000 | PA      | $2462576.66   | 0.84%             | 2027-01-01      | Fixed         | 5.64%                 | No            |                  2 | On Loan: No      |
| LOW INCOME INVESTMENT                       | Low Income Investment Fund                                                      | CUSIP: 54750AAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    590000 | PA      | $585965.42    | 0.20%             | 2026-07-01      | Fixed         | 3.39%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QSKV2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1341108 | PA      | $1343003.01   | 0.46%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| INT DEVELOPMENT FIN CORP                    | United States International Development Finance Corp                            | CUSIP: 6903538C4<br>LEI: 254900QI8QTIK0FY6E92 | Long             | DBT              | USGA              | US        |    500000 | PA      | $562472.09    | 0.19%             | 2026-01-17      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HSG FIN AUTH HS              | Connecticut Housing Finance Authority                                           | CUSIP: 20775H8B2<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |   2775000 | PA      | $2792567.53   | 0.95%             | 2028-05-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| MARQUETTE MI BROWNFIELD REDEV               | Marquette Brownfield Redevelopment Authority                                    | CUSIP: 57143YBU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     95000 | PA      | $92801.04     | 0.03%             | 2027-05-01      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA ST CAPITOL IMPT AUTH               | Oklahoma Capitol Improvement Authority                                          | CUSIP: 679088KJ2<br>LEI: 549300LYHYBINTZ5AY71 | Long             | DBT              | MUN               | US        |    715000 | PA      | $682409.87    | 0.23%             | 2028-07-01      | Fixed         | 2.58%                 | No            |                  2 | On Loan: No      |
| SALT LAKE & SANDY UT MET WTR D              | Metropolitan Water District of Salt Lake & Sandy                                | CUSIP: 795560DS7<br>LEI: 549300WSGSDWQU727366 | Long             | DBT              | MUN               | US        |    520000 | PA      | $485072.66    | 0.17%             | 2028-07-01      | Fixed         | 1.52%                 | No            |                  2 | On Loan: No      |
| MOMENTUS SECURITIES LLC                     | Small Business Administration Pools                                             | CUSIP: 8316A0YA2<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    251467 | PA      | $272378.72    | 0.09%             | 2034-12-25      | Floating      | 8.36%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140NVHZ3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2225000 | PA      | $2270740.01   | 0.78%             | 2029-06-01      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| SIGNATURE BANK                              | Small Business Administration Pools                                             | CUSIP: 83164M3S6<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    108326 | PA      | $112527.10    | 0.04%             | 2045-11-25      | Floating      | 6.83%                 | 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        |       121 | NC      | $98115.39     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| SBA 7(a) Certificate of Originator's Fee    | SBA 7(a) Certificate of Originator's Fee                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    129939 | PA      | $5328.95      | 0.00%             | 2033-12-12      | Fixed         | 1.98%                 | No            |                  2 | On Loan: No      |
| SUNNYVALE CA WSTWTR REVENUE                 | City of Sunnyvale CA Wastewater Revenue                                         | CUSIP: 867604BT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $99343.37     | 0.03%             | 2026-04-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| CARROLL CNTY GA WTR AUTH                    | Carroll County Water Authority                                                  | CUSIP: 14478EGH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    285000 | PA      | $271880.13    | 0.09%             | 2027-07-01      | Fixed         | 1.51%                 | No            |                  2 | On Loan: No      |
| OREGON ST                                   | State of Oregon                                                                 | CUSIP: 68609TVP0<br>LEI: 549300R5SUGZRD8KP359 | Long             | DBT              | MUN               | US        |    345000 | PA      | $328485.89    | 0.11%             | 2027-06-01      | Fixed         | 1.31%                 | No            |                  2 | On Loan: No      |
| SBA 7(a) Certificate of Originator's Fee    | SBA 7(a) Certificate of Originator's Fee                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    135000 | PA      | $625.90       | 0.00%             | 2034-04-01      | Fixed         | 0.23%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3133BGGT9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1790557 | PA      | $1717899.12   | 0.59%             | 2052-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Gold Pool                                                           | CUSIP: 3132Y3QF4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     37202 | PA      | $35189.14     | 0.01%             | 2048-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Switch ABS Issuer, LLC                      | Switch ABS Issuer LLC                                                           | CUSIP: 871044AA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    320000 | PA      | $330162.49    | 0.11%             | 2054-03-25      | Fixed         | 6.28%                 | No            |                  2 | On Loan: No      |
| WSTRN NASSAU CNTY NY WTR AUTH               | Western Nassau County Water Authority                                           | CUSIP: 958792FN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $487428.18    | 0.17%             | 2034-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| MOMENTUS SECURITIES LLC                     | Small Business Administration Pools                                             | CUSIP: 8316A0YE4<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    459214 | PA      | $505610.90    | 0.17%             | 2034-12-25      | Floating      | 9.11%                 | No            |                  2 | On Loan: No      |
| COMMUNITY PRESERVATION C                    | Community Preservation Corp/The                                                 | CUSIP: 20402CAA3<br>LEI: 254900CWS66ZXCS6P481 | Long             | DBT              | CORP              | US        |    250000 | PA      | $227078.31    | 0.08%             | 2030-02-01      | Fixed         | 2.87%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140L0H59<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1375900 | PA      | $1148340.06   | 0.39%             | 2051-06-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| THERMO FISHER SCIENTIFIC                    | Thermo Fisher Scientific Inc                                                    | CUSIP: 883556CL4<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | DBT              | CORP              | US        |   2250000 | PA      | $1962004.17   | 0.67%             | 2031-10-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| BLUEHUB LOAN FUND                           | BlueHub Loan Fund Inc                                                           | CUSIP: 095623AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $244548.23    | 0.08%             | 2027-01-01      | Fixed         | 2.89%                 | No            |                  2 | On Loan: No      |
| TEMPLE TX UTILITY SYTEM REVENU              | City of Temple TX Utility System Revenue                                        | CUSIP: 880162HY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    170000 | PA      | $169539.51    | 0.06%             | 2025-08-01      | Fixed         | 1.11%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140NXHN6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1610000 | PA      | $1632252.20   | 0.56%             | 2030-01-01      | Fixed         | 4.58%                 | No            |                  2 | On Loan: No      |
| MOMENTUS SECURITIES LLC                     | Small Business Administration Pools                                             | CUSIP: 8316AGAN5<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    645734 | PA      | $749723.80    | 0.26%             | 2034-10-25      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| CANTOR FITZGERALD & CO.                     | Small Business Administration Pools                                             | CUSIP: 83165A6D1<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     20023 | PA      | $21052.66     | 0.01%             | 2043-03-25      | Floating      | 8.09%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140KTLD5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    191460 | PA      | $152907.87    | 0.05%             | 2050-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3133KKEY1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    183980 | PA      | $147853.40    | 0.05%             | 2050-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| DISTRICT OF COLUMBIA HSG FIN A              | District of Columbia Housing Finance Agency                                     | CUSIP: 254768VJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    140000 | PA      | $127025.65    | 0.04%             | 2029-09-01      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| FRESB Multifamily Mortgage Pas              | FRESB 2019-SB59 Mortgage Trust                                                  | CUSIP: 302970AG3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    125449 | PA      | $122819.24    | 0.04%             | 2029-01-25      | Variable      | 3.47%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3133KMG66<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    199261 | PA      | $166182.03    | 0.06%             | 2051-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Government National Mortgage Association                                        | CUSIP: 38380JPZ5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     17555 | PA      | $16536.94     | 0.01%             | 2052-03-16      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| SBA 7(a) Certificate of Originator's Fee    | SBA 7(a) Certificate of Originator's Fee                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    344250 | PA      | $1088.11      | 0.00%             | 2031-05-15      | Floating      | 0.23%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3133KPH76<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1899680 | PA      | $1771516.78   | 0.60%             | 2052-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DISTRICT OF COLUMBIA HSG FIN A              | District of Columbia Housing Finance Agency                                     | CUSIP: 254768VG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    135000 | PA      | $124981.01    | 0.04%             | 2028-09-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| FRESB Multifamily Mortgage Pas              | FRESB 2018-SB45 Mortgage Trust                                                  | CUSIP: 30308AAH6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     31148 | PA      | $30445.63     | 0.01%             | 2027-11-25      | Variable      | 3.16%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140JVMM1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     20586 | PA      | $18890.36     | 0.01%             | 2049-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| SBA                                         | SBA                                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    346986 | PA      | $8184.01      | 0.00%             | 2031-05-10      | Fixed         | 1.23%                 | No            |                  2 | On Loan: No      |
| BECTON DICKINSON & CO                       | Becton Dickinson & Co                                                           | CUSIP: 075887CU1<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | DBT              | CORP              | US        |   2780000 | PA      | $2841562.46   | 0.97%             | 2029-06-07      | Fixed         | 5.08%                 | No            |                  2 | On Loan: No      |
| SBA 7(a) Certificate of Originator's Fee    | SBA 7(a) Certificate of Originator's Fee                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    197638 | PA      | $7081.94      | 0.00%             | 2033-10-27      | Fixed         | 1.73%                 | No            |                  2 | On Loan: No      |
| SBA 7(a) Certificate of Originator's Fee    | SBA 7(a) Certificate of Originator's Fee                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    437400 | PA      | $11577.80     | 0.00%             | 2046-06-23      | Floating      | 1.28%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Gold Pool                                                           | CUSIP: 3132LAAF9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     43509 | PA      | $41154.46     | 0.01%             | 2048-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GRAND RAPIDS MI SANTN SWR SYSR              | City of Grand Rapids MI Sanitary Sewer System Revenue                           | CUSIP: 386289NK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1330000 | PA      | $1152099.21   | 0.39%             | 2032-01-01      | Fixed         | 2.01%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST HLTH FACS FING A              | California Health Facilities Financing Authority                                | CUSIP: 13032UXQ6<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |    250000 | PA      | $232958.35    | 0.08%             | 2028-06-01      | Fixed         | 1.68%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QAGW4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     61176 | PA      | $57986.06     | 0.02%             | 2048-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FRESB Multifamily Mortgage Pas              | FRESB 2021-SB87 Mortgage Trust                                                  | CUSIP: 30320VAA9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    871857 | PA      | $844314.38    | 0.29%             | 2041-04-25      | Variable      | 0.78%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QPGF8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1816669 | PA      | $1694387.23   | 0.58%             | 2052-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SANTA CLARA VLY CA WTR DIST CO              | Santa Clara Valley Water District                                               | CUSIP: 80168FPD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $349103.00    | 0.12%             | 2031-06-01      | Fixed         | 1.78%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3133ANHV9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    844445 | PA      | $671996.98    | 0.23%             | 2051-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| ASTRAZENECA FINANCE LLC                     | Astrazeneca Finance LLC                                                         | CUSIP: 04636NAE3<br>LEI: 549300C3HATU4Q460S18 | Long             | DBT              | CORP              | US        |   2892000 | PA      | $2711771.44   | 0.93%             | 2028-05-28      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| SBA 7(a) Certificate of Originator's Fee    | SBA 7(a) Certificate of Originator's Fee                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    103500 | PA      | $1109.45      | 0.00%             | 2031-08-15      | Floating      | 0.78%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 3617BWKV6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     54417 | PA      | $51494.83     | 0.02%             | 2048-04-20      | Fixed         | 4.00%                 | 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        |   1500000 | PA      | $1523935.55   | 0.52%             | 2029-04-16      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| INT DEVELOPMENT FIN CORP                    | United States International Development Finance Corp                            | CUSIP: 90376PDF5<br>LEI: 254900QI8QTIK0FY6E92 | Long             | DBT              | USGA              | US        |   1000000 | PA      | $949043.53    | 0.32%             | 2028-04-15      | Fixed         | 1.44%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QSSQ5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1954642 | PA      | $1965376.97   | 0.67%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| (Sunnova) Aurora I Issuer, LLC              | Sunnova Helios VII Issuer LLC                                                   | CUSIP: 86745RAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    787667 | PA      | $651535.16    | 0.22%             | 2048-10-20      | Fixed         | 2.03%                 | No            |                  2 | On Loan: No      |
| MOMENTUS SECURITIES LLC                     | Small Business Administration Pools                                             | CUSIP: 8316A0ZX1<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    810742 | PA      | $898326.47    | 0.31%             | 2035-02-25      | Floating      | 9.36%                 | No            |                  2 | On Loan: No      |
| DORIS DUKE CHARITABLE                       | Doris Duke Charitable Foundation/The                                            | CUSIP: 258261AA4<br>LEI: HFI2KJN5A6RHAGMWK984 | Long             | DBT              | CORP              | US        |    100000 | PA      | $56632.07     | 0.02%             | 2050-07-01      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| WALNUT VLY CA WTR DIST WTR REV              | Walnut Valley Water District/CA                                                 | CUSIP: 933002AC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    315000 | PA      | $306340.22    | 0.10%             | 2026-06-01      | Fixed         | 0.96%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3133KHS56<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    167938 | PA      | $147147.34    | 0.05%             | 2050-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SAN BUENAVENTURA CA WTR REVENU              | City of San Buenaventura CA                                                     | CUSIP: 797055DL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $344544.39    | 0.12%             | 2026-01-01      | Fixed         | 1.17%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3138LCR72<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2142021 | PA      | $2112910.14   | 0.72%             | 2026-03-01      | Fixed         | 2.72%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140KGWB5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    143271 | PA      | $120067.60    | 0.04%             | 2050-06-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| OKLAHOMA ST CAPITOL IMPT AUTH               | Oklahoma Capitol Improvement Authority                                          | CUSIP: 679088KK9<br>LEI: 549300LYHYBINTZ5AY71 | Long             | DBT              | MUN               | US        |    745000 | PA      | $700023.93    | 0.24%             | 2029-07-01      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| INT DEVELOPMENT FIN CORP                    | United States International Development Finance Corp                            | CUSIP: 690353P76<br>LEI: 254900QI8QTIK0FY6E92 | Long             | DBT              | USGA              | US        |   2027875 | PA      | $2027875.00   | 0.69%             | 2040-07-07      | Floating      | 4.50%                 | No            |                  2 | On Loan: No      |
| SBA 7(a) Certificate of Originator's Fee    | SBA 7(a) Certificate of Originator's Fee                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    495000 | PA      | $5306.05      | 0.00%             | 2031-08-15      | Floating      | 0.78%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140HWC34<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3040110 | PA      | $2848012.95   | 0.97%             | 2029-10-01      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| Tricolor Auto Securitization T              | Tricolor Auto Securitization Trust 2022-1                                       | CUSIP: 89616BAF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2320000 | PA      | $2334206.75   | 0.80%             | 2029-07-16      | Fixed         | 9.80%                 | No            |                  2 | On Loan: No      |
| AVANGRID INC                                | Avangrid Inc                                                                    | CUSIP: 05351WAB9<br>LEI: 549300OX0Q38NLSKPB49 | Long             | DBT              | CORP              | US        |   1350000 | PA      | $1318228.02   | 0.45%             | 2029-06-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140KTLE3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    278341 | PA      | $234303.20    | 0.08%             | 2050-10-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Lendbuzz Securitization Trust               | Lendbuzz Securitization Trust 2025-2                                            | CUSIP: 52611JAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1850000 | PA      | $1854979.44   | 0.63%             | 2030-05-15      | Fixed         | 5.18%                 | No            |                  2 | On Loan: No      |
| DH EUROPE FINANCE II                        | DH Europe Finance II Sarl                                                       | CUSIP: 23291KAH8<br>LEI: 222100KDGL314CKTZ511 | Long             | DBT              | CORP              | LU        |    995000 | PA      | $929084.84    | 0.32%             | 2029-11-15      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae I Pool                                                               | CUSIP: 3617AUEM8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     20678 | PA      | $19618.31     | 0.01%             | 2047-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KENVUE INC                                  | Kenvue Inc                                                                      | CUSIP: 49177JAH5<br>LEI: 5493008HSF8L4M2LIJ82 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2576617.69   | 0.88%             | 2030-03-22      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NARRAGANSETT BAY RI COMMISSION              | Narragansett Bay Commission                                                     | CUSIP: 631060CR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1295000 | PA      | $1157548.52   | 0.40%             | 2030-09-01      | Fixed         | 2.09%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3133KNQM8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1782067 | PA      | $1550228.27   | 0.53%             | 2052-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| J.V.B. FINANCIAL GROUP. LLC                 | Small Business Administration Pools                                             | CUSIP: 83164NBS5<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    316794 | PA      | $332225.59    | 0.11%             | 2031-09-25      | Floating      | 8.32%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CITY & CNTY CA                | City & County of San Francisco CA                                               | CUSIP: 7976466A9<br>LEI: 549300RA28ZEFOB6M782 | Long             | DBT              | MUN               | US        |    100000 | PA      | $96114.19     | 0.03%             | 2027-06-15      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| SBA                                         | SBA                                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    450000 | PA      | $4141.94      | 0.00%             | 2031-09-01      | Fixed         | 0.48%                 | No            |                  2 | On Loan: No      |
| SBA 7(a) Certificate of Originator's Fee    | SBA 7(a) Certificate of Originator's Fee                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    127500 | PA      | $5228.92      | 0.00%             | 2033-11-16      | Fixed         | 1.98%                 | No            |                  2 | On Loan: No      |
| SIGNATURE BANK                              | Small Business Administration Pools                                             | CUSIP: 83165BAB8<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     12496 | PA      | $12835.80     | 0.00%             | 2028-11-25      | Floating      | 8.50%                 | No            |                  2 | On Loan: No      |
| HA SUSTAINABLE INF CAP                      | HA Sustainable Infrastructure Capital Inc                                       | CUSIP: 40408AAA9<br>LEI: 254900ZZRL7MWL1X8E92 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1416270.07   | 0.48%             | 2031-01-15      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3133ACLL0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    167061 | PA      | $133421.98    | 0.05%             | 2050-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| BOSTON MA WTR & SWR COMMISSION              | Boston Water & Sewer Commission                                                 | CUSIP: 101029WZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $566620.01    | 0.19%             | 2027-11-01      | Fixed         | 1.37%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3133KH2G0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    378668 | PA      | $317574.71    | 0.11%             | 2050-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| SIGNATURE BANK                              | Small Business Administration Pools                                             | CUSIP: 83164NAS6<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    161921 | PA      | $168355.85    | 0.06%             | 2031-06-25      | Floating      | 7.83%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140KAYP5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    390985 | PA      | $326320.15    | 0.11%             | 2051-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| ELI LILLY & CO                              | Eli Lilly & Co                                                                  | CUSIP: 532457CV8<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1743551.05   | 0.60%             | 2030-02-12      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| SBA 7(a) Certificate of Originator's Fee    | SBA 7(a) Certificate of Originator's Fee                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     85000 | PA      | $822.44       | 0.00%             | 2034-04-01      | Fixed         | 0.48%                 | No            |                  2 | On Loan: No      |
| ROSEMEAD CA SCH DIST                        | Rosemead School District                                                        | CUSIP: 777526MQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $199580.43    | 0.07%             | 2025-08-01      | Fixed         | 2.17%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3132XDB77<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1969304 | PA      | $2006954.62   | 0.69%             | 2030-01-01      | Fixed         | 4.72%                 | No            |                  2 | On Loan: No      |
| PHOENIX AZ CIVIC IMPT CORP WTR              | City of Phoenix Civic Improvement Corp                                          | CUSIP: 71883RRR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $714300.56    | 0.24%             | 2027-07-01      | Fixed         | 1.38%                 | 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        |       171 | NC      | $231952.95    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| FHLMC Multifamily Structured P              | Freddie Mac Multifamily Structured Pass Through Certificates                    | CUSIP: 3137F72G9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    294694 | PA      | $247167.80    | 0.08%             | 2036-01-25      | Fixed         | 1.55%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3138LEUY5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2865566 | PA      | $2741791.54   | 0.94%             | 2028-07-01      | Fixed         | 2.52%                 | No            |                  2 | On Loan: No      |
| MOMENTUS SECURITIES LLC                     | Small Business Administration Pools                                             | CUSIP: 8316A0TY6<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    139654 | PA      | $152130.43    | 0.05%             | 2034-05-25      | Floating      | 9.12%                 | No            |                  2 | On Loan: No      |
| LANCASTER CA PWR AUTH REVENUE               | Lancaster Power Authority                                                       | CUSIP: 513793BD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    755000 | PA      | $619731.49    | 0.21%             | 2035-11-01      | Fixed         | 2.79%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3133ASXY4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    927256 | PA      | $737250.36    | 0.25%             | 2051-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QSRD5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1862539 | PA      | $1831205.02   | 0.63%             | 2053-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HEALTHCARE RLTY HLDGS LP                    | Healthcare Realty Holdings LP                                                   | CUSIP: 42225UAL8<br>LEI: 549300IYGAS4GE6VDL07 | Long             | DBT              | CORP              | US        |   2100000 | PA      | $1875030.34   | 0.64%             | 2030-03-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140H36G6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     21408 | PA      | $20222.73     | 0.01%             | 2048-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SBA 7(a) Certificate of Originator's Fee    | SBA 7(a) Certificate of Originator's Fee                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    164250 | PA      | $761.51       | 0.00%             | 2034-03-01      | Fixed         | 0.23%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140NYAJ0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2800000 | PA      | $2847666.44   | 0.97%             | 2030-04-01      | Fixed         | 4.66%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QP5Z6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1804915 | PA      | $1731395.90   | 0.59%             | 2052-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| OMAHA NE SANTN SWR REVENUE                  | City of Omaha NE Sewer Revenue                                                  | CUSIP: 681810NH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $97632.59     | 0.03%             | 2026-04-01      | Fixed         | 1.03%                 | No            |                  2 | On Loan: No      |
| SBA 7(a) Certificate of Originator's Fee    | SBA 7(a) Certificate of Originator's Fee                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    186547 | PA      | $7650.49      | 0.00%             | 2033-12-18      | Fixed         | 1.98%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO CNTY CA WTR AUTH                  | San Diego County Water Authority                                                | CUSIP: 797412DP5<br>LEI: 549300Y0QN5OFKA1G520 | Long             | DBT              | MUN               | US        |    125000 | PA      | $118876.05    | 0.04%             | 2027-05-01      | Fixed         | 1.17%                 | No            |                  2 | On Loan: No      |
| SANTA CLARA VLY CA WTR DIST CO              | Santa Clara Valley Water District                                               | CUSIP: 80168FPG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    950000 | PA      | $775564.92    | 0.26%             | 2034-06-01      | Fixed         | 2.08%                 | No            |                  2 | On Loan: No      |
| Luminace ABS-2022 Issuer, LLC               | Luminace ABS-2022 Issuer LLC                                                    | CUSIP: 55026CAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3082765 | PA      | $3038146.56   | 1.04%             | 2062-07-31      | Fixed         | 5.91%                 | No            |                  2 | On Loan: No      |
| SBA 7(a) Certificate of Originator's Fee    | SBA 7(a) Certificate of Originator's Fee                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    389700 | PA      | $2256.44      | 0.00%             | 2046-05-17      | Floating      | 0.28%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST                                 | State of Michigan                                                               | CUSIP: 594612ES8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $199826.79    | 0.07%             | 2030-05-15      | Fixed         | 1.54%                 | No            |                  2 | On Loan: No      |
| PRSVN OF AFFORD HOUSING                     | Preservation Of Affordable Housing Inc                                          | CUSIP: 74082VAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2160000 | PA      | $2121927.41   | 0.72%             | 2032-12-01      | Fixed         | 4.48%                 | No            |                  2 | On Loan: No      |
| IDAHO ENERGY RESOURCES AUTH TR              | Idaho Energy Resources Authority                                                | CUSIP: 451174AX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $342070.92    | 0.12%             | 2046-09-01      | Fixed         | 2.86%                 | No            |                  2 | On Loan: No      |
| CINCINNATI OH ECON DEV REVENUE              | City of Cincinnati OH                                                           | CUSIP: 172254VJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    130000 | PA      | $129703.92    | 0.04%             | 2028-11-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Tricolor Auto Securitization T              | Tricolor Auto Securitization Trust 2024-1                                       | CUSIP: 89616LAD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2200000 | PA      | $2260314.66   | 0.77%             | 2028-04-17      | Fixed         | 8.61%                 | No            |                  2 | On Loan: No      |
| SONOMA MARIN AREA RAIL TRANSPR              | Sonoma-Marin Area Rail Transit District                                         | CUSIP: 835588BB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $570121.72    | 0.19%             | 2028-03-01      | Fixed         | 2.02%                 | No            |                  2 | On Loan: No      |
| ELEVANCE HEALTH INC                         | Elevance Health Inc                                                             | CUSIP: 036752AY9<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |   3100000 | PA      | $3191184.35   | 1.09%             | 2029-06-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| IQVIA INC                                   | IQVIA Inc                                                                       | CUSIP: 46266TAF5<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |   2250000 | PA      | $2351167.92   | 0.80%             | 2029-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| NATURE CONSERVANCY (THE)                    | Nature Conservancy/The                                                          | CUSIP: 63902HAK5<br>LEI: 549300GJ1IZME7V1JJ28 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $931525.42    | 0.32%             | 2027-07-01      | Fixed         | 1.15%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140H1WT3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      9113 | PA      | $8608.80      | 0.00%             | 2048-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | US 10YR ULTRA                                                                   | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        49 | NC      | $142639.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| MOMENTUS SECURITIES LLC                     | Small Business Administration Pools                                             | CUSIP: 8316A0YG9<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    470482 | PA      | $520836.22    | 0.18%             | 2034-12-25      | Floating      | 9.36%                 | No            |                  2 | On Loan: No      |
| Lendbuzz Securitization Trust               | Lendbuzz Securitization Trust 2024-2                                            | CUSIP: 525920AB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    806594 | PA      | $813490.88    | 0.28%             | 2029-05-15      | Fixed         | 5.99%                 | No            |                  2 | On Loan: No      |
| GRAND RAPIDS MI SANTN SWR SYSR              | City of Grand Rapids MI Sanitary Sewer System Revenue                           | CUSIP: 386289NJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $662020.28    | 0.23%             | 2031-01-01      | Fixed         | 1.86%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QS5W7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1903090 | PA      | $1965501.49   | 0.67%             | 2053-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SIGNATURE BANK                              | Small Business Administration Pools                                             | CUSIP: 831628ES7<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     16782 | PA      | $17156.80     | 0.01%             | 2029-09-25      | Fixed         | 9.07%                 | No            |                  2 | On Loan: No      |
| GLAXOSMITHKLINE CAP INC                     | GlaxoSmithKline Capital Inc                                                     | CUSIP: 377372AN7<br>LEI: 5493007Q8VD7Q3ZYZS59 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2488821.17   | 0.85%             | 2028-05-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| DISTRICT OF COLUMBIA HSG FIN A              | District of Columbia Housing Finance Agency                                     | CUSIP: 254768VL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    590000 | PA      | $516932.99    | 0.18%             | 2031-03-01      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140HBPZ5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     40425 | PA      | $38271.95     | 0.01%             | 2048-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ROWLAND CA WTR DIST WTR REVENU              | Rowland Water District                                                          | CUSIP: 779657BA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $224497.72    | 0.08%             | 2029-12-01      | Fixed         | 1.61%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140Q8FG5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     30039 | PA      | $28422.77     | 0.01%             | 2048-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SANTA ROSA CA WSTWTR REVENUE                | City of Santa Rosa CA Wastewater Revenue                                        | CUSIP: 802649TQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $659174.42    | 0.23%             | 2031-09-01      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| MACARTHUR FOUNDATION                        | John D and Catherine T MacArthur Foundation                                     | CUSIP: 477854AA1<br>LEI: UJ37UD5B4O5WRVV6NV96 | Long             | DBT              | CORP              | US        |    400000 | PA      | $337107.78    | 0.12%             | 2030-12-01      | Fixed         | 1.30%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST GREEN BANK                   | Connecticut Green Bank                                                          | CUSIP: 207580AU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $303284.72    | 0.10%             | 2028-11-15      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| SBA 7(a) Certificate of Originator's Fee    | SBA 7(a) Certificate of Originator's Fee                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    222833 | PA      | $2388.61      | 0.00%             | 2031-04-15      | Floating      | 0.78%                 | No            |                  2 | On Loan: No      |
| SIGNATURE BANK                              | Small Business Administration Pools                                             | CUSIP: 83164MR35<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     66093 | PA      | $66117.40     | 0.02%             | 2044-04-25      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3138LCMJ1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     50000 | PA      | $41670.65     | 0.01%             | 2045-12-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| (Sunnova) Aurora I Issuer, LLC              | Sunnova Helios XI Issuer LLC                                                    | CUSIP: 86746AAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1833051 | PA      | $1854774.69   | 0.63%             | 2050-05-20      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140NYBY6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1322000 | PA      | $1370120.19   | 0.47%             | 2030-05-01      | Fixed         | 5.29%                 | No            |                  2 | On Loan: No      |
| ROWLAND CA WTR DIST WTR REVENU              | Rowland Water District                                                          | CUSIP: 779657BG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $632195.80    | 0.22%             | 2036-12-01      | Fixed         | 2.56%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140LPYN6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   6973564 | PA      | $5567204.94   | 1.90%             | 2051-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Lendbuzz Securitization Trust               | Lendbuzz Securitization Trust 2024-2                                            | CUSIP: 525920AC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2414000 | PA      | $2492752.61   | 0.85%             | 2029-07-16      | Fixed         | 6.52%                 | No            |                  2 | On Loan: No      |
| ABBVIE INC                                  | AbbVie Inc                                                                      | CUSIP: 00287YDS5<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |   2200000 | PA      | $2243043.12   | 0.77%             | 2029-03-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CITY & CNTY CA P              | San Francisco City & County Public Utilities Commission Wastewater Revenue      | CUSIP: 79768HAG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $102110.65    | 0.03%             | 2028-10-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| LANCASTER CA PWR AUTH REVENUE               | Lancaster Power Authority                                                       | CUSIP: 513793AV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    240000 | PA      | $225905.29    | 0.08%             | 2027-11-01      | Fixed         | 1.67%                 | No            |                  2 | On Loan: No      |
| SIGNATURE BANK                              | Small Business Administration Pools                                             | CUSIP: 83164M2L2<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     32956 | PA      | $34548.87     | 0.01%             | 2030-07-25      | Floating      | 9.07%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QHBS3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    306296 | PA      | $244300.70    | 0.08%             | 2051-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Lendbuzz Securitization Trust               | Lendbuzz Securitization Trust 2024-1                                            | CUSIP: 525935AC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1026267.74   | 0.35%             | 2029-09-15      | Fixed         | 6.58%                 | No            |                  2 | On Loan: No      |
| CANTOR FITZGERALD & CO.                     | Small Business Administration Pools                                             | CUSIP: 83164M7D5<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    192253 | PA      | $199902.59    | 0.07%             | 2031-07-25      | Floating      | 7.83%                 | No            |                  2 | On Loan: No      |
| VERMONT ST HSG FIN AGY PROPERT              | Vermont Housing Finance Agency                                                  | CUSIP: 92419RAN2<br>LEI: 549300RD7EYN90K0W008 | Long             | DBT              | MUN               | US        |    100000 | PA      | $96151.40     | 0.03%             | 2029-11-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| BRIDGE HOUSING CORP                         | Bridge Housing Corp                                                             | CUSIP: 10806CAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1600000 | PA      | $1466402.56   | 0.50%             | 2030-07-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3133KMQ32<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    182199 | PA      | $151839.30    | 0.05%             | 2051-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HSG & FIN AUTH                  | Colorado Housing and Finance Authority                                          | CUSIP: 19648GVD1<br>LEI: 5493005GIROYQAWBMC18 | Long             | DBT              | MUN               | US        |   1950000 | PA      | $1965491.01   | 0.67%             | 2027-12-01      | Fixed         | 4.59%                 | No            |                  2 | On Loan: No      |
| MOMENTUS SECURITIES LLC                     | Small Business Administration Pools                                             | CUSIP: 8316AGAM7<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    263605 | PA      | $303245.26    | 0.10%             | 2034-05-25      | Fixed         | 10.62%                | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3133ACLM8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    186304 | PA      | $155900.29    | 0.05%             | 2050-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| WALNUT VLY CA WTR DIST WTR REV              | Walnut Valley Water District/CA                                                 | CUSIP: 933002AD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    320000 | PA      | $303965.14    | 0.10%             | 2027-06-01      | Fixed         | 1.17%                 | No            |                  2 | On Loan: No      |
| WSTRN NASSAU CNTY NY WTR AUTH               | Western Nassau County Water Authority                                           | CUSIP: 958792FP3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $397256.16    | 0.14%             | 2035-04-01      | Fixed         | 2.58%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE A              | Government National Mortgage Association                                        | CUSIP: 38380JLN6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     28059 | PA      | $24548.04     | 0.01%             | 2059-03-16      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST HLTH FACS FING A              | California Health Facilities Financing Authority                                | CUSIP: 13032UXS2<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |    815000 | PA      | $728140.99    | 0.25%             | 2030-06-01      | Fixed         | 1.98%                 | No            |                  2 | On Loan: No      |
| SIGNATURE BANK                              | Small Business Administration Pools                                             | CUSIP: 83165BET5<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    112214 | PA      | $118484.16    | 0.04%             | 2046-01-25      | Floating      | 7.61%                 | 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        |       154 | NC      | $860941.62    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Switch ABS Issuer, LLC                      | Switch ABS Issuer LLC                                                           | CUSIP: 871044AE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    825000 | PA      | $832550.02    | 0.28%             | 2054-06-25      | Fixed         | 5.44%                 | 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        |       142 | NC      | $665179.12    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| DISTRICT OF COLUMBIA HSG FIN A              | District of Columbia Housing Finance Agency                                     | CUSIP: 254768VD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    195000 | PA      | $186429.59    | 0.06%             | 2027-03-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| CUCAMONGA VLY WTR DIST FING AU              | Cucamonga Valley Water District Financing Authority                             | CUSIP: 22972PCL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1490463.98   | 0.51%             | 2027-09-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QSRE3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1991646 | PA      | $2004373.86   | 0.68%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3133KJA51<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    131670 | PA      | $110385.90    | 0.04%             | 2050-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140NUV63<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3019000 | PA      | $3155140.83   | 1.08%             | 2031-06-01      | Fixed         | 5.22%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3138LLW68<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     86456 | PA      | $84411.81     | 0.03%             | 2027-12-01      | Fixed         | 3.06%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST BAY TRANSPRTN              | Massachusetts Bay Transportation Authority Sales Tax Revenue                    | CUSIP: 575579M79<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1040000 | PA      | $893695.49    | 0.31%             | 2033-07-01      | Fixed         | 2.48%                 | No            |                  2 | On Loan: No      |
| SIGNATURE BANK                              | Small Business Administration Pools                                             | CUSIP: 83164M5V7<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     54361 | PA      | $57989.88     | 0.02%             | 2031-01-25      | Floating      | 9.82%                 | No            |                  2 | On Loan: No      |
| SBA 7(a) Certificate of Originator's Fee    | SBA 7(a) Certificate of Originator's Fee                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    179309 | PA      | $831.33       | 0.00%             | 2034-03-01      | Fixed         | 0.23%                 | No            |                  2 | On Loan: No      |
| SBA 7(a) Certificate of Originator's Fee    | SBA 7(a) Certificate of Originator's Fee                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |   1226700 | PA      | $36311.67     | 0.01%             | 2046-06-30      | Floating      | 1.28%                 | No            |                  2 | On Loan: No      |
| AGILENT TECHNOLOGIES INC                    | Agilent Technologies Inc                                                        | CUSIP: 00846UAL5<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | DBT              | CORP              | US        |   2600000 | PA      | $2435463.12   | 0.83%             | 2029-09-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| SBA 7(a) Certificate of Originator's Fee    | SBA 7(a) Certificate of Originator's Fee                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    940950 | PA      | $24906.57     | 0.01%             | 2046-04-07      | Floating      | 1.28%                 | No            |                  2 | On Loan: No      |
| HIDALGO CNTY TX DRAIN DIST #1               | Hidalgo County Drain District No 1                                              | CUSIP: 429335LR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    335000 | PA      | $333159.79    | 0.11%             | 2025-09-01      | Fixed         | 0.95%                 | No            |                  2 | On Loan: No      |
| SBA                                         | SBA                                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    139500 | PA      | $3290.25      | 0.00%             | 2031-09-16      | Fixed         | 1.23%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                                   | Amgen Inc                                                                       | CUSIP: 031162DR8<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3584621.49   | 1.22%             | 2033-03-02      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| AMERICAN WATER CAPITAL C                    | American Water Capital Corp                                                     | CUSIP: 03040WBA2<br>LEI: 5IDHQUFVC8Q2KIBBFF06 | Long             | DBT              | CORP              | US        |   3150000 | PA      | $3110660.84   | 1.06%             | 2032-06-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3133KLSH1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    422435 | PA      | $336610.03    | 0.11%             | 2051-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| INT DEVELOPMENT FIN CORP                    | United States International Development Finance Corp                            | CUSIP: 90376PCZ2<br>LEI: 254900QI8QTIK0FY6E92 | Long             | DBT              | USGA              | US        |    500000 | PA      | $476706.26    | 0.16%             | 2028-04-15      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140LL5K3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2500000 | PA      | $2558953.55   | 0.87%             | 2028-11-01      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| SBA Individual Loan                         | SBA Individual Loan                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |      3670 | PA      | $3641.21      | 0.00%             | 2025-09-23      | Floating      | 5.58%                 | No            |                  2 | On Loan: No      |
| LANCASTER CA PWR AUTH REVENUE               | Lancaster Power Authority                                                       | CUSIP: 513793BB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $444145.55    | 0.15%             | 2033-11-01      | Fixed         | 2.56%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3133KG3X4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     76678 | PA      | $67257.35     | 0.02%             | 2049-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3133KJBH4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    333731 | PA      | $281446.30    | 0.10%             | 2050-06-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| RAYMOND JAMES BANK, N.A.                    | Small Business Administration Pools                                             | CUSIP: 83164MHG7<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |      7064 | PA      | $7033.73      | 0.00%             | 2028-02-25      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Helios Issuer VI, LLC                       | SUNNOVA HELIOS II ISSUER LLC 2021-B                                             | CUSIP: 86744TAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    860362 | PA      | $723307.34    | 0.25%             | 2048-07-20      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3133KMKN4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    674834 | PA      | $536552.52    | 0.18%             | 2051-08-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| SBA 7(a) Certificate of Originator's Fee    | SBA 7(a) Certificate of Originator's Fee                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    404563 | PA      | $8617.12      | 0.00%             | 2046-04-15      | Floating      | 1.03%                 | No            |                  2 | On Loan: No      |
| SANTA CLARA VLY CA WTR DIST CO              | Santa Clara Valley Water District                                               | CUSIP: 80168FPE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1060000 | PA      | $904312.34    | 0.31%             | 2032-06-01      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| HONOLULU CITY & CNTY HI                     | City & County of Honolulu HI                                                    | CUSIP: 438687SA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    695000 | PA      | $644014.07    | 0.22%             | 2028-07-01      | Fixed         | 1.47%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST HLTH FACS FING A              | California Health Facilities Financing Authority                                | CUSIP: 13032UXW3<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |    990000 | PA      | $813167.41    | 0.28%             | 2035-06-01      | Fixed         | 2.53%                 | No            |                  2 | On Loan: No      |
| Sunnova Helios VIII Issuer, LL              | Sunnova Sol IV Issuer LLC                                                       | CUSIP: 86745AAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3601314 | PA      | $2464947.93   | 0.84%             | 2049-02-22      | Fixed         | 3.53%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3133KLZA8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    442993 | PA      | $369863.47    | 0.13%             | 2051-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| ASTRAZENECA FINANCE LLC                     | Astrazeneca Finance LLC                                                         | CUSIP: 04636NAB9<br>LEI: 549300C3HATU4Q460S18 | Long             | DBT              | CORP              | US        |    490000 | PA      | $438564.08    | 0.15%             | 2031-05-28      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| MOMENTUS SECURITIES LLC                     | Small Business Administration Pools                                             | CUSIP: 8316A0XF2<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    525789 | PA      | $605709.31    | 0.21%             | 2034-10-25      | Floating      | 11.11%                | No            |                  2 | On Loan: No      |
| MOMENTUS SECURITIES LLC                     | Small Business Administration Pools                                             | CUSIP: 8316AGAP0<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    159640 | PA      | $181687.08    | 0.06%             | 2035-03-25      | Fixed         | 10.61%                | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140HBQ76<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     39859 | PA      | $37736.21     | 0.01%             | 2048-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HIDALGO CNTY TX DRAIN DIST #1               | Hidalgo County Drain District No 1                                              | CUSIP: 429335LV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $273402.28    | 0.09%             | 2029-09-01      | Fixed         | 1.67%                 | No            |                  2 | On Loan: No      |
| RECKITT BENCKISER TSY                       | Reckitt Benckiser Treasury Services PLC                                         | CUSIP: 75625QAE9<br>LEI: 213800LAXWIUOOBZ3908 | Long             | DBT              | CORP              | GB        |   2500000 | PA      | $2445843.82   | 0.84%             | 2027-06-26      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SIGNATURE BANK                              | Small Business Administration Pools                                             | CUSIP: 83164M4H9<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     34848 | PA      | $37004.39     | 0.01%             | 2030-10-25      | Floating      | 9.82%                 | No            |                  2 | On Loan: No      |
| J.V.B. FINANCIAL GROUP. LLC                 | Small Business Administration Pools                                             | CUSIP: 8316A0A75<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    415412 | PA      | $433077.78    | 0.15%             | 2031-10-25      | Floating      | 7.88%                 | No            |                  2 | On Loan: No      |
| BIRMINGHAM AL WTRWKS BRD WTR R              | Water Works Board of the City of Birmingham/The                                 | CUSIP: 091096PF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    730000 | PA      | $597718.19    | 0.20%             | 2035-01-01      | Fixed         | 2.39%                 | No            |                  2 | On Loan: No      |
| DALLAS TX AREA RAPID TRANSIT S              | Dallas Area Rapid Transit                                                       | CUSIP: 235241VQ6<br>LEI: 75YWM81F2R6UQGJIEW47 | Long             | DBT              | MUN               | US        |    800000 | PA      | $682995.73    | 0.23%             | 2032-12-01      | Fixed         | 2.18%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3133KLX28<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    767024 | PA      | $640403.90    | 0.22%             | 2051-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FHN FINANCIAL CAPITAL MARKETS               | Small Business Administration Pools                                             | CUSIP: 8316A0AN0<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    210838 | PA      | $221746.73    | 0.08%             | 2032-01-25      | Floating      | 8.38%                 | No            |                  2 | On Loan: No      |
| SIGNATURE BANK                              | Small Business Administration Pools                                             | CUSIP: 831628E32<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     48227 | PA      | $48121.39     | 0.02%             | 2030-07-25      | Fixed         | 7.08%                 | No            |                  2 | On Loan: No      |
| MARY FREE BED REHAB HSP                     | Mary Free Bed Rehabilitation Hospital                                           | CUSIP: 57388MAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1200000 | PA      | $871840.22    | 0.30%             | 2051-04-01      | Fixed         | 3.79%                 | No            |                  2 | On Loan: No      |
| SOLVENTUM CORP                              | Solventum Corp                                                                  | CUSIP: 83444MAA9<br>LEI: 254900I70403OSGY4M28 | Long             | DBT              | CORP              | US        |   1665000 | PA      | $1687810.46   | 0.58%             | 2027-02-25      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| HONOLULU CITY & CNTY HI BRD OF              | Honolulu City & County Board of Water Supply                                    | CUSIP: 438689LQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $240896.72    | 0.08%             | 2027-07-01      | Fixed         | 1.98%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140NUSM2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3500000 | PA      | $3540618.82   | 1.21%             | 2029-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3133BD4M4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    659243 | PA      | $614868.58    | 0.21%             | 2052-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DISTRICT OF COLUMBIA HSG FIN A              | District of Columbia Housing Finance Agency                                     | CUSIP: 254768VA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    155000 | PA      | $154124.58    | 0.05%             | 2025-09-01      | Fixed         | 1.15%                 | No            |                  2 | On Loan: No      |
| SBA 7(a) Certificate of Originator's Fee    | SBA 7(a) Certificate of Originator's Fee                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    132635 | PA      | $2005.47      | 0.00%             | 2034-02-28      | Fixed         | 0.73%                 | No            |                  2 | On Loan: No      |
| BRISTOL-MYERS SQUIBB CO                     | Bristol-Myers Squibb Co                                                         | CUSIP: 110122EF1<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2559808.10   | 0.87%             | 2029-02-22      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| NATURE CONSERVANCY (THE)                    | Nature Conservancy/The                                                          | CUSIP: 63902HAM1<br>LEI: 549300GJ1IZME7V1JJ28 | Long             | DBT              | CORP              | US        |     70000 | PA      | $62719.54     | 0.02%             | 2029-07-01      | Fixed         | 1.51%                 | 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        |   1550000 | PA      | $1531975.22   | 0.52%             | 2042-02-15      | Floating      | 6.95%                 | No            |                  2 | On Loan: No      |
| SIGNATURE BANK                              | Small Business Administration Pools                                             | CUSIP: 83164ML64<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     26983 | PA      | $27957.91     | 0.01%             | 2043-09-25      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| DISTRICT OF COLUMBIA HSG FIN A              | District of Columbia Housing Finance Agency                                     | CUSIP: 254768VE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    195000 | PA      | $184522.89    | 0.06%             | 2027-09-01      | Fixed         | 1.60%                 | No            |                  2 | On Loan: No      |
| LANCASTER CA PWR AUTH REVENUE               | Lancaster Power Authority                                                       | CUSIP: 513793BC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $437426.83    | 0.15%             | 2034-11-01      | Fixed         | 2.68%                 | No            |                  2 | On Loan: No      |
| FHN FINANCIAL CAPITAL MARKETS               | Small Business Administration Pools                                             | CUSIP: 83164NA49<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    215392 | PA      | $224396.29    | 0.08%             | 2032-02-25      | Floating      | 7.83%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Gold Pool                                                           | CUSIP: 3132LA6S6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    170680 | PA      | $156243.64    | 0.05%             | 2049-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QAPS3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     42839 | PA      | $40531.41     | 0.01%             | 2049-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Lendbuzz Securitization Trust               | Lendbuzz Securitization Trust 2022-1                                            | CUSIP: 52607KAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1215118 | PA      | $1210073.77   | 0.41%             | 2027-05-17      | Fixed         | 4.22%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140LXEK7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1417417 | PA      | $1322008.98   | 0.45%             | 2052-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QAQ45<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     42567 | PA      | $40300.02     | 0.01%             | 2049-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TEMPLE TX UTILITY SYTEM REVENU              | City of Temple TX Utility System Revenue                                        | CUSIP: 880162JC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    690000 | PA      | $631381.74    | 0.22%             | 2029-08-01      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3133KLXY8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1131870 | PA      | $939376.41    | 0.32%             | 2051-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| SBA 7(a) Certificate of Originator's Fee    | SBA 7(a) Certificate of Originator's Fee                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    447502 | PA      | $1414.47      | 0.00%             | 2031-03-15      | Floating      | 0.23%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QPFE2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2500780 | PA      | $2332450.45   | 0.80%             | 2052-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QPYL5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1826257 | PA      | $1752009.97   | 0.60%             | 2052-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140NUVS5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2520647 | PA      | $2576027.39   | 0.88%             | 2029-03-01      | Fixed         | 4.87%                 | No            |                  2 | On Loan: No      |
| DISTRICT OF COLUMBIA HSG FIN A              | District of Columbia Housing Finance Agency                                     | CUSIP: 254768VB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $342610.59    | 0.12%             | 2026-03-01      | Fixed         | 1.20%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QQJM8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1796773 | PA      | $1770497.11   | 0.60%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WALNUT VLY CA WTR DIST WTR REV              | Walnut Valley Water District/CA                                                 | CUSIP: 933002AE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $302263.14    | 0.10%             | 2028-06-01      | Fixed         | 1.37%                 | No            |                  2 | On Loan: No      |
| ESCONDIDO CA JT PWRS FING AUTH              | Escondido Joint Powers Financing Authority                                      | CUSIP: 29634EEG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $149530.61    | 0.05%             | 2025-09-01      | Fixed         | 2.44%                 | No            |                  2 | On Loan: No      |
| HENDERSON NV                                | City of Henderson NV                                                            | CUSIP: 4252007E6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $237678.36    | 0.08%             | 2028-06-01      | Fixed         | 2.23%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QVCN2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2059473 | PA      | $2069260.46   | 0.71%             | 2054-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SBA 7(a) Certificate of Originator's Fee    | SBA 7(a) Certificate of Originator's Fee                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |   1350000 | PA      | $14471.06     | 0.00%             | 2031-07-15      | Floating      | 0.78%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3133KG3W6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     49085 | PA      | $43054.37     | 0.01%             | 2049-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| RHODE ISLAND INFRASTRUCTURE BA              | Rhode Island Infrastructure Bank State Revolving Fund                           | CUSIP: 76223MAH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $918761.22    | 0.31%             | 2028-10-01      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140NYDD0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1534000 | PA      | $1552246.78   | 0.53%             | 2030-02-01      | Fixed         | 4.66%                 | No            |                  2 | On Loan: No      |
| J.V.B. FINANCIAL GROUP. LLC                 | Small Business Administration Pools                                             | CUSIP: 83164NBJ5<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    778657 | PA      | $826930.18    | 0.28%             | 2046-08-25      | Floating      | 7.83%                 | No            |                  2 | On Loan: No      |
| N E IA CMNTY CLG                            | Northeast Iowa Community College/IA                                             | CUSIP: 664214MT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $99414.97     | 0.03%             | 2026-06-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QQQV0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2140639 | PA      | $2153461.38   | 0.74%             | 2052-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QAZR4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    253713 | PA      | $231127.75    | 0.08%             | 2049-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3133ANHW7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    242340 | PA      | $202184.43    | 0.07%             | 2051-06-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QQYS8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    872894 | PA      | $904525.62    | 0.31%             | 2052-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140LB4Q3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3500000 | PA      | $3264299.35   | 1.11%             | 2028-04-01      | Fixed         | 1.53%                 | No            |                  2 | On Loan: No      |
| Lendbuzz Securitization Trust               | Lendbuzz Securitization Trust 2025-1                                            | CUSIP: 525938AC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1250000 | PA      | $1254047.34   | 0.43%             | 2030-10-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| PAPIO-MISSOURI RIVER NE NATURA              | Papio-Missouri River Natural Resource District                                  | CUSIP: 698874EN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $247558.82    | 0.08%             | 2025-12-15      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140HMYW8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     45362 | PA      | $42945.57     | 0.01%             | 2048-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA                              | City of Los Angeles CA                                                          | CUSIP: 544351LP2<br>LEI: 549300E7TO710PTXPJ65 | Long             | DBT              | MUN               | US        |    100000 | PA      | $96595.92     | 0.03%             | 2028-09-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140Q8FJ9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     20764 | PA      | $19040.65     | 0.01%             | 2048-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3138LFE53<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5110000 | PA      | $4982976.77   | 1.70%             | 2026-09-01      | Fixed         | 2.22%                 | 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        |   3000000 | PA      | $2374134.00   | 0.81%             | 2055-07-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae I Pool                                                               | CUSIP: 36179DCC2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     52378 | PA      | $49796.96     | 0.02%             | 2026-08-15      | Fixed         | 1.66%                 | No            |                  2 | On Loan: No      |
| (Sunnova) Aurora I Issuer, LLC              | Sunnova Helios XIII Issuer LLC                                                  | CUSIP: 86745CAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2222514 | PA      | $1682387.06   | 0.57%             | 2051-02-20      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| HIDALGO CNTY TX DRAIN DIST #1               | Hidalgo County Drain District No 1                                              | CUSIP: 429335LU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    130000 | PA      | $120730.20    | 0.04%             | 2028-09-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| DISTRICT OF COLUMBIA HSG FIN A              | District of Columbia Housing Finance Agency                                     | CUSIP: 254768VF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $187296.94    | 0.06%             | 2028-03-01      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| CALLEGUAS CA MUNI WTR DIST                  | Calleguas Municipal Water District                                              | CUSIP: 13124MCM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    460000 | PA      | $365225.34    | 0.12%             | 2036-07-01      | Fixed         | 2.52%                 | No            |                  2 | On Loan: No      |
| MOMENTUS SECURITIES LLC                     | Small Business Administration Pools                                             | CUSIP: 8316A02Z2<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    185569 | PA      | $205783.32    | 0.07%             | 2035-04-25      | Floating      | 9.36%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST DEPT OF WTR RESO              | State of California Department of Water Resources                               | CUSIP: 13067WRD6<br>LEI: 549300X618YEC5LGBQ98 | Long             | DBT              | MUN               | US        |    100000 | PA      | $95766.80     | 0.03%             | 2026-12-01      | Fixed         | 0.92%                 | No            |                  2 | On Loan: No      |
| KERN CA CMNTY CLG DIST                      | Kern Community College District                                                 | CUSIP: 492244EW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $147054.16    | 0.05%             | 2026-11-01      | Fixed         | 2.54%                 | No            |                  2 | On Loan: No      |
| NATURE CONSERVANCY (THE)                    | Nature Conservancy/The                                                          | CUSIP: 63902HAR0<br>LEI: 549300GJ1IZME7V1JJ28 | Long             | DBT              | CORP              | US        |     53000 | PA      | $43225.95     | 0.01%             | 2033-07-01      | Fixed         | 1.86%                 | No            |                  2 | On Loan: No      |
| SBA                                         | SBA                                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    270000 | PA      | $6368.22      | 0.00%             | 2031-08-02      | Fixed         | 1.23%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P              | Freddie Mac Multifamily Structured Pass Through Certificates                    | CUSIP: 3137FKWZ5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     35776 | PA      | $35823.66     | 0.01%             | 2028-12-25      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| LANCASTER CA PWR AUTH REVENUE               | Lancaster Power Authority                                                       | CUSIP: 513793AW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    285000 | PA      | $263645.09    | 0.09%             | 2028-11-01      | Fixed         | 1.92%                 | 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.