# EDGAR Filing Document

**Accession Number:** 0000831114
**File Stem:** 0001145549-25-049596
**Filing Date:** 2025-7
**Character Count:** 65629
**Document Hash:** b963acf14ca520fc770f4ba139aa553b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-049596.hdr.sgml**: 20250729

**ACCESSION NUMBER**: 0001145549-25-049596

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250729

**DATE AS OF CHANGE**: 20250729

**PERIOD START**: 20250831

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05518
- **FILM NUMBER:** 251159473

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

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

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

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

## Series and Classes Contracts Data

### F/m High Yield 100 ETF (Series ID: S000091534)

| Class ID   | Class Name             | Ticker Symbol   |
|:---|:---|:---|
| C000259202 | F/m High Yield 100 ETF | ZTOP            |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **F/m High Yield 100 ETF** | **F/m High Yield 100 ETF** | **F/m High Yield 100 ETF** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **May 31, 2025 (Unaudited)** | **May 31, 2025 (Unaudited)** | **May 31, 2025 (Unaudited)** |
| **CORPORATE BONDS - 95.8%** | **Par** | **Value** |
| **Aerospace & Defense - 2.7%** | **Aerospace & Defense - 2.7%** | **Aerospace & Defense - 2.7%** |
|  Bombardier, Inc., 8.75%, 11/15/2030 <sup>(a)</sup> | $57000 | $61248 |
|  Spirit AeroSystems, Inc., 9.38%, 11/30/2029 <sup>(a)</sup> | 56000 | 59717 |
|  TransDigm, Inc., 7.13%, 12/01/2031 <sup>(a)</sup> | 58000 | 60047 |
|  |  | 181012 |
| **Airlines - 0.9%** | **Airlines - 0.9%** | **Airlines - 0.9%** |
|  American Airlines, Inc./AAdvantage Loyalty IP Ltd., 5.75%, 04/20/2029 <sup>(a)</sup> | 60000 | 58960 |
| **Auto Parts Manufacturing - 1.8%** | **Auto Parts Manufacturing - 1.8%** | **Auto Parts Manufacturing - 1.8%** |
|  Clarios Global LP / Clarios US Finance Co., 6.75%, 02/15/2030 <sup>(a)</sup> | 60000 | 61105 |
|  Goodyear Tire & Rubber Co., 5.63%, 04/30/2033 | 65000 | 60448 |
|  |  | 121553 |
| **Automobiles Manufacturing - 0.9%** | **Automobiles Manufacturing - 0.9%** | **Automobiles Manufacturing - 0.9%** |
|  Nissan Motor Acceptance Co. LLC, 7.05%, 09/15/2028 <sup>(a)</sup> | 60000 | 61173 |
| **Cable & Satellite - 4.5%** | **Cable & Satellite - 4.5%** | **Cable & Satellite - 4.5%** |
|  CCO Holdings LLC / CCO Holdings Capital Corp., 7.38%, 03/01/2031 <sup>(a)</sup> | 60000 | 62321 |
|  CSC Holdings LLC, 11.75%, 01/31/2029 <sup>(a)</sup> | 60000 | 56284 |
|  Directv Financing LLC / Directv Financing Co.-Obligor, Inc., 10.00%, 02/15/2031 <sup>(a)</sup> | 60000 | 58409 |
|  DISH Network Corp., 11.75%, 11/15/2027 <sup>(a)</sup> | 61000 | 62902 |
|  Sirius XM Radio LLC, 5.50%, 07/01/2029 <sup>(a)</sup> | 60000 | 58995 |
|  |  | 298911 |
| **Casinos & Gaming - 3.6%** | **Casinos & Gaming - 3.6%** | **Casinos & Gaming - 3.6%** |
|  Caesars Entertainment, Inc., 7.00%, 02/15/2030 <sup>(a)</sup> | 60000 | 61530 |
|  Churchill Downs, Inc., 6.75%, 05/01/2031 <sup>(a)</sup> | 60000 | 61153 |
|  Melco Resorts Finance Ltd., 7.63%, 04/17/2032 <sup>(a)</sup> | 60000 | 59438 |
|  MGM Resorts International, 6.50%, 04/15/2032 | 60000 | 59874 |
|  |  | 241995 |
| **Chemicals - 1.9%** | **Chemicals - 1.9%** | **Chemicals - 1.9%** |
|  Celanese US Holdings LLC, 7.20%, 11/15/2033 | 60000 | 62604 |
|  Olympus Water US Holding Corp., 9.75%, 11/15/2028 <sup>(a)</sup> | 58000 | 60793 |
|  |  | 123397 |
| **Commercial Finance - 0.9%** | **Commercial Finance - 0.9%** | **Commercial Finance - 0.9%** |
|  Fortress Transportation and Infrastructure Investors LLC, 7.88%, 12/01/2030 <sup>(a)</sup> | 58000 | 60913 |
| **Communications Equipment - 0.9%** | **Communications Equipment - 0.9%** | **Communications Equipment - 0.9%** |
|  CommScope LLC, 9.50%, 12/15/2031 <sup>(a)</sup> | 58000 | 60268 |
| **Construction Materials Manufacturing - 1.8%** | **Construction Materials Manufacturing - 1.8%** | **Construction Materials Manufacturing - 1.8%** |
|  Quikrete Holdings, Inc., 6.38%, 03/01/2032 <sup>(a)</sup> | 60000 | 60953 |
|  Standard Building Solutions, Inc., 6.50%, 08/15/2032 <sup>(a)</sup> | 60000 | 60970 |
|  |  | 121923 |
| **Consumer Finance - 6.3%** | **Consumer Finance - 6.3%** | **Consumer Finance - 6.3%** |
|  Block, Inc., 6.50%, 05/15/2032 | 58000 | 59309 |
|  Freedom Mortgage Corp., 12.25%, 10/01/2030 <sup>(a)</sup> | 54000 | 59641 |
|  Nationstar Mortgage Holdings, Inc., 7.13%, 02/01/2032 <sup>(a)</sup> | 60000 | 62572 |
|  Navient Corp., 11.50%, 03/15/2031 | 53000 | 60044 |
|  OneMain Finance Corp., 9.00%, 01/15/2029 | 58000 | 60929 |
|  PennyMac Financial Services, Inc., 7.88%, 12/15/2029 <sup>(a)</sup> | 58000 | 61148 |
|  Rocket Mortgage LLC / Rocket Mortgage Co.-Issuer, Inc., 4.00%, 10/15/2033 <sup>(a)</sup> | 66000 | 57016 |
|  |  | 420659 |
| **Consumer Services - 1.8%** | **Consumer Services - 1.8%** | **Consumer Services - 1.8%** |
|  Allied Universal Holdco LLC, 7.88%, 02/15/2031 <sup>(a)</sup> | 60000 | 62164 |
|  Service Corp. International/US, 5.75%, 10/15/2032 | 60000 | 59625 |
|  |  | 121789 |
| **Containers & Packaging - 2.7%** | **Containers & Packaging - 2.7%** | **Containers & Packaging - 2.7%** |
|  Ball Corp., 6.88%, 03/15/2028 | 60000 | 61331 |
|  Clydesdale Acquisition Holdings, Inc., 6.88%, 01/15/2030 <sup>(a)</sup> | 59000 | 59868 |
|  Mauser Packaging Solutions Holding Co., 7.88%, 04/15/2027 <sup>(a)</sup> | 60000 | 60580 |
|  |  | 181779 |
| **Electrical Equipment Manufacturing - 1.8%** | **Electrical Equipment Manufacturing - 1.8%** | **Electrical Equipment Manufacturing - 1.8%** |
|  EMRLD Borrower LP / Emerald Co.-Issuer, Inc., 6.75%, 07/15/2031 <sup>(a)</sup> | 60000 | 61345 |
|  WESCO Distribution, Inc., 7.25%, 06/15/2028 <sup>(a)</sup> | 60000 | 60734 |
|  |  | 122079 |
| **Entertainment Content - 0.9%** | **Entertainment Content - 0.9%** | **Entertainment Content - 0.9%** |
|  Univision Communications, Inc., 8.50%, 07/31/2031 <sup>(a)</sup> | 60000 | 57619 |
| **Entertainment Resources - 0.9%** | **Entertainment Resources - 0.9%** | **Entertainment Resources - 0.9%** |
|  Six Flags Entertainment Corp. /Six Flags Theme Parks, Inc./ Canada's Wonderland Co., 6.63%, 05/01/2032 <sup>(a)</sup> | 60000 | 61181 |
| **Exploration & Production - 2.6%** | **Exploration & Production - 2.6%** | **Exploration & Production - 2.6%** |
|  Civitas Resources, Inc., 8.75%, 07/01/2031 <sup>(a)</sup> | 60000 | 58768 |
|  Hilcorp Energy I LP / Hilcorp Finance Co., 8.38%, 11/01/2033 <sup>(a)</sup> | 60000 | 59803 |
|  Permian Resources Operating LLC, 9.88%, 07/15/2031 <sup>(a)</sup> | 53000 | 57936 |
|  |  | 176507 |
| **Financial Services - 1.7%** | **Financial Services - 1.7%** | **Financial Services - 1.7%** |
|  Icahn Enterprises LP / Icahn Enterprises Finance Corp., 10.00%, 11/15/2029 <sup>(a)</sup> | 60000 | 58503 |
|  Jane Street Group / JSG Finance, Inc., 7.13%, 04/30/2031 <sup>(a)</sup> | 52000 | 54309 |
|  |  | 112812 |
| **Food & Beverage - 0.9%** | **Food & Beverage - 0.9%** | **Food & Beverage - 0.9%** |
|  Post Holdings, Inc., 6.25%, 02/15/2032 <sup>(a)</sup> | 60000 | 61010 |
| **Hardware - 0.9%** | **Hardware - 0.9%** | **Hardware - 0.9%** |
|  Seagate HDD Cayman, 9.63%, 12/01/2032 | 53000 | 60124 |
| **Health Care Facilities & Services - 3.8%** | **Health Care Facilities & Services - 3.8%** | **Health Care Facilities & Services - 3.8%** |
|  CHS/Community Health Systems, Inc., 10.88%, 01/15/2032 <sup>(a)</sup> | 60000 | 63997 |
|  DaVita, Inc., 6.88%, 09/01/2032 <sup>(a)</sup> | 60000 | 60959 |
|  LifePoint Health, Inc., 11.00%, 10/15/2030 <sup>(a)</sup> | 58000 | 63811 |
|  Tenet Healthcare Corp., 6.75%, 05/15/2031 | 60000 | 61803 |
|  |  | 250570 |
| **Home & Office Products Manufacturing - 0.9%** | **Home & Office Products Manufacturing - 0.9%** | **Home & Office Products Manufacturing - 0.9%** |
|  Newell Brands, Inc., 8.50%, 06/01/2028 <sup>(a)</sup> | 60000 | 62115 |
| **Industrial Other - 1.8%** | **Industrial Other - 1.8%** | **Industrial Other - 1.8%** |
|  Herc Holdings Escrow, Inc., 7.25%, 06/15/2033 <sup>(a)</sup> | 60000 | 61726 |
|  United Rentals North America, Inc., 3.88%, 11/15/2027 | 60000 | 58675 |
|  |  | 120401 |
| **Medical Equipment & Devices Manufacturing - 0.9%** | **Medical Equipment & Devices Manufacturing - 0.9%** | **Medical Equipment & Devices Manufacturing - 0.9%** |
|  Medline Borrower LP/Medline Co.-Issuer, Inc., 6.25%, 04/01/2029 <sup>(a)</sup> | 60000 | 61071 |
| **Metals & Mining - 2.6%** | **Metals & Mining - 2.6%** | **Metals & Mining - 2.6%** |
|  Cleveland-Cliffs, Inc., 7.50%, 09/15/2031 <sup>(a)</sup> | 60000 | 53921 |
|  FMG Resources August 2006 Pty Ltd., 6.13%, 04/15/2032 <sup>(a)</sup> | 60000 | 59865 |
|  Novelis Corp., 6.88%, 01/30/2030 <sup>(a)</sup> | 60000 | 61872 |
|  |  | 175658 |
| **Oil & Gas Services & Equipment - 0.9%** | **Oil & Gas Services & Equipment - 0.9%** | **Oil & Gas Services & Equipment - 0.9%** |
|  Transocean, Inc., 8.75%, 02/15/2030 <sup>(a)</sup> | 56800 | 57580 |
| **Pharmaceuticals - 2.6%** | **Pharmaceuticals - 2.6%** | **Pharmaceuticals - 2.6%** |
|  1261229 BC Ltd., 10.00%, 04/15/2032 <sup>(a)</sup> | 60000 | 59402 |
|  Bausch Health Cos., Inc., 11.00%, 09/30/2028 <sup>(a)</sup> | 62000 | 59350 |
|  Organon & Co. / Organon Foreign Debt Co.-Issuer BV, 6.75%, 05/15/2034 <sup>(a)</sup> | 60000 | 55898 |
|  |  | 174650 |
| **Pipeline - 5.5%** | **Pipeline - 5.5%** | **Pipeline - 5.5%** |
|  Buckeye Partners LP, 6.88%, 07/01/2029 <sup>(a)</sup> | 58000 | 59740 |
|  Genesis Energy LP / Genesis Energy Finance Corp., 8.88%, 04/15/2030 | 60000 | 63065 |
|  Hess Midstream Operations LP, 6.50%, 06/01/2029 <sup>(a)</sup> | 58000 | 59212 |
|  Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp., 7.38%, 02/15/2029 <sup>(a)</sup> | 60000 | 61018 |
|  Venture Global Calcasieu Pass LLC, 6.25%, 01/15/2030 <sup>(a)</sup> | 60000 | 60920 |
|  Venture Global LNG, Inc., 9.88%, 02/01/2032 <sup>(a)</sup> | 60000 | 63917 |
|  |  | 367872 |
| **Power Generation - 2.7%** | **Power Generation - 2.7%** | **Power Generation - 2.7%** |
|  Calpine Corp., 4.50%, 02/15/2028 <sup>(a)</sup> | 60000 | 58868 |
|  NRG Energy, Inc., 6.25%, 11/01/2034 <sup>(a)</sup> | 60000 | 60014 |
|  Vistra Operations Co. LLC, 7.75%, 10/15/2031 <sup>(a)</sup> | 60000 | 63619 |
|  |  | 182501 |
| **Property & Casualty Insurance - 3.7%** | **Property & Casualty Insurance - 3.7%** | **Property & Casualty Insurance - 3.7%** |
|  Acrisure LLC / Acrisure Finance, Inc., 7.50%, 11/06/2030 <sup>(a)</sup> | 60000 | 61868 |
|  Alliant Holdings Intermediate LLC / Alliant Holdings Co.-Issuer, 7.00%, 01/15/2031 <sup>(a)</sup> | 60000 | 61321 |
|  HUB International Ltd., 7.25%, 06/15/2030 <sup>(a)</sup> | 60000 | 62515 |
|  Panther Escrow Issuer LLC, 7.13%, 06/01/2031 <sup>(a)</sup> | 58000 | 59984 |
|  |  | 245688 |
| **Publishing & Broadcasting - 1.9%** | **Publishing & Broadcasting - 1.9%** | **Publishing & Broadcasting - 1.9%** |
|  Clear Channel Outdoor Holdings, Inc., 9.00%, 09/15/2028 <sup>(a)</sup> | 58000 | 60912 |
|  Gray Media, Inc., 10.50%, 07/15/2029 <sup>(a)</sup> | 60000 | 63833 |
|  |  | 124745 |
| **Real Estate - 4.6%** | **Real Estate - 4.6%** | **Real Estate - 4.6%** |
|  Iron Mountain, Inc., 7.00%, 02/15/2029 <sup>(a)</sup> | 60000 | 61982 |
|  MPT Operating Partnership LP / MPT Finance Corp., 8.50%, 02/15/2032 <sup>(a)</sup> | 58000 | 59485 |
|  RHP Hotel Properties LP / RHP Finance Corp., 7.25%, 07/15/2028 <sup>(a)</sup> | 60000 | 61762 |
|  Service Properties Trust, 8.88%, 06/15/2032 | 60000 | 60185 |
|  Uniti Group LP / Uniti Group Finance 2019, Inc. / CSL Capital LLC, 10.50%, 02/15/2028 <sup>(a)</sup> | 58000 | 61490 |
|  |  | 304904 |
| **Refining & Marketing - 0.9%** | **Refining & Marketing - 0.9%** | **Refining & Marketing - 0.9%** |
|  Sunoco LP, 7.25%, 05/01/2032 <sup>(a)</sup> | 58000 | 60353 |
| **Restaurants - 1.8%** | **Restaurants - 1.8%** | **Restaurants - 1.8%** |
|  1011778 BC ULC / New Red Finance, Inc., 6.13%, 06/15/2029 <sup>(a)</sup> | 60000 | 61263 |
|  KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of America LLC, 4.75%, 06/01/2027 <sup>(a)</sup> | 60000 | 59713 |
|  |  | 120976 |
| **Retail - Consumer Discretionary - 4.5%** | **Retail - Consumer Discretionary - 4.5%** | **Retail - Consumer Discretionary - 4.5%** |
|  Avis Budget Car Rental LLC / Avis Budget Finance, Inc., 8.38%, 06/15/2032 <sup>(a)</sup> | 60000 | 60483 |
|  Bath & Body Works, Inc., 7.50%, 06/15/2029 | 60000 | 61571 |
| Builders FirstSource, Inc. | Builders FirstSource, Inc. | Builders FirstSource, Inc. |
| &nbsp;&nbsp; 6.38%, 03/01/2034 <sup>(a)</sup> | 60000 | 59880 |
| &nbsp;&nbsp; 6.75%, 05/15/2035 <sup>(a)</sup> | 60000 | 60331 |
|  Rakuten Group, Inc., 11.25%, 02/15/2027 <sup>(a)</sup> | 57000 | 61394 |
|  |  | 303659 |
| **Software & Services - 1.8%** | **Software & Services - 1.8%** | **Software & Services - 1.8%** |
|  Cloud Software Group, Inc., 8.25%, 06/30/2032 <sup>(a)</sup> | 58000 | 60999 |
|  Open Text Corp., 3.88%, 12/01/2029 <sup>(a)</sup> | 63000 | 58663 |
|  |  | 119662 |
| **Supermarkets & Pharmacies - 1.9%** | **Supermarkets & Pharmacies - 1.9%** | **Supermarkets & Pharmacies - 1.9%** |
|  Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC, 6.50%, 02/15/2028 <sup>(a)</sup> | 60000 | 61249 |
|  Walgreens Boots Alliance, Inc., 8.13%, 08/15/2029 | 60000 | 62795 |
|  |  | 124044 |
| **Travel & Lodging - 4.6%** | **Travel & Lodging - 4.6%** | **Travel & Lodging - 4.6%** |
|  Carnival Corp., 6.13%, 02/15/2033 <sup>(a)</sup> | 60000 | 60102 |
|  Hilton Domestic Operating Co., Inc., 6.13%, 04/01/2032 <sup>(a)</sup> | 60000 | 60936 |
|  NCL Corp. Ltd., 8.13%, 01/15/2029 <sup>(a)</sup> | 58000 | 61081 |
|  Royal Caribbean Cruises Ltd., 7.50%, 10/15/2027 | 60000 | 63145 |
|  Viking Ocean Cruises Ship VII Ltd., 5.63%, 02/15/2029 <sup>(a)</sup> | 60000 | 59305 |
|  |  | 304569 |
| **Utilities - 1.8%** | **Utilities - 1.8%** | **Utilities - 1.8%** |
|  PG&E Corp., 5.25%, 07/01/2030 | 60000 | 58244 |
|  XPLR Infrastructure Operating Partners LP, 8.63%, 03/15/2033 <sup>(a)(b)</sup> | 60000 | 63006 |
|  |  | 121250 |
| **Waste & Environment Services & Equipment - 0.9%** | **Waste & Environment Services & Equipment - 0.9%** | **Waste & Environment Services & Equipment - 0.9%** |
|  GFL Environmental, Inc., 6.75%, 01/15/2031 <sup>(a)</sup> | 58000 | 60200 |
| **Wireless Telecommunications Services - 3.5%** | **Wireless Telecommunications Services - 3.5%** | **Wireless Telecommunications Services - 3.5%** |
|  Altice France SA, 8.13%, 02/01/2027 <sup>(a)</sup> | 60000 | 55214 |
|  EchoStar Corp., 10.75%, 11/30/2029 | 53000 | 53300 |
|  Vmed O2 UK Financing I PLC, 7.75%, 04/15/2032 <sup>(a)</sup> | 60000 | 61820 |
|  Vodafone Group PLC, 7.00% (5 yr. Swap Rate USD + 4.87%), 04/04/2079 | 60000 | 61686 |
|  |  | 232020 |
| **Wireline Telecommunications Services - 1.8%** | **Wireline Telecommunications Services - 1.8%** | **Wireline Telecommunications Services - 1.8%** |
|  Frontier Florida LLC, 6.86%, 02/01/2028 | 60000 | 61809 |
|  Level 3 Financing, Inc., 11.00%, 11/15/2029 <sup>(a)</sup> | 53000 | 60240 |
|  |  | 122049 |
| **TOTAL CORPORATE BONDS** (Cost $6,318,074) | **TOTAL CORPORATE BONDS** (Cost $6,318,074) | 6402201 |
| **SHORT-TERM INVESTMENTS - 0.7%** | **Units** | **Value**  |
| **Investments Purchased with Proceeds from Securities Lending - 0.7%** |  |  |
| Mount Vernon Liquid Assets Portfolio, LLC, 4.45% <sup>(c)</sup> | 45360 | 45360 |
| **TOTAL SHORT-TERM INVESTMENTS** (Cost $45,360) | **TOTAL SHORT-TERM INVESTMENTS** (Cost $45,360) | 45360 |
| **TOTAL INVESTMENTS - 96.5% (**Cost $6,363,434**)** | **TOTAL INVESTMENTS - 96.5% (**Cost $6,363,434**)** | $6447561 |
| Other Assets in Excess of Liabilities - 3.5% | Other Assets in Excess of Liabilities - 3.5% | 230060 |
| **TOTAL NET ASSETS - 100.0%** |  | $6677621 |
| two | two | –% |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | –% |

---

LLC - Limited Liability Company <br> LP - Limited Partnership <br> PLC - Public Limited Company

(a) Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified
 institutional investors. As of May 31, 2025, the value of these securities total $5,191,635 or 77.7% of the Fund's net assets.

(b) All or a portion of this security is on loan as of May 31, 2025. The fair value of these securities was $44,722.

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

------

#### <br>

#### Summary of Fair Value Disclosure as of May 31, 2025 (Unaudited)
F/m High Yield 100 ETF (the "Fund") has adopted fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

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

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Corporate Bonds | $– | $6402201 | $– | $6402201 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Investments Purchased with Proceeds from Securities Lending<sup>(a)</sup> | – | – | – | 45360 |
| Total Investments | $– | $6402201 | $– | $6447561 |
| Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. |

---

(a) Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair
 value amount of $45,360 presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts listed in the Schedule of Investments.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53202

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

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

- **a. Name of Series:** F/m High Yield 100 ETF

- **b. EDGAR series identifier (if any):** S000091534

- **c. LEI of Series:** 529900T1M8HKCKKG6H81

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $6211867.85

**Total Liabilities:** $47160.20

**Net Assets:** $6164707.65

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.000000000000 | **1-Year:** 8.916749000000 | **5-Year:** 4.678207000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

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

- **3-Month:** 186.845858000000 | **1-Year:** 927.765151000000 | **5-Year:** 440.185073000000 | **10-Year:** 55.352251000000 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000259202 |  | 1.65%                | 1.38%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  |  |  |
| Month 2  | $0.00                    | $41999.69                                  |
| Month 3  | $2604.22                 | $42968.22                                  |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                                      | Title                                                                           | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   | Fair Value Level   | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| ACRISURE LLC / FIN INC                    | Acrisure LLC / Acrisure Finance Inc                                             | CUSIP: 00489LAL7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     60000 | PA      | $61867.98     | 1.00%             | 2030-11-06      | Fixed         | 7.50%                 | No            | 2                  | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                    | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC           | CUSIP: 01309QAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     60000 | PA      | $61248.88     | 0.99%             | 2028-02-15      | Fixed         | 6.50%                 | No            | 2                  | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                  | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                  | CUSIP: 01883LAF0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     60000 | PA      | $61320.58     | 0.99%             | 2031-01-15      | Fixed         | 7.00%                 | No            | 2                  | On Loan: No      |
| ALLIED UNIVERSAL HOLDCO                   | Allied Universal Holdco LLC                                                     | CUSIP: 019576AD9<br>LEI: 98450038B4549046D794 | Long             | DBT              | CORP              | US        |     60000 | PA      | $62163.35     | 1.01%             | 2031-02-15      | Fixed         | 7.88%                 | No            | 2                  | On Loan: No      |
| PERMIAN RESOURC OPTG LLC                  | Permian Resources Operating LLC                                                 | CUSIP: 27034RAC7<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |     53000 | PA      | $57936.19     | 0.94%             | 2031-07-15      | Fixed         | 9.88%                 | No            | 2                  | On Loan: No      |
| IRON MOUNTAIN INC                         | Iron Mountain Inc                                                               | CUSIP: 46284VAP6<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |     60000 | PA      | $61982.26     | 1.01%             | 2029-02-15      | Fixed         | 7.00%                 | No            | 2                  | On Loan: No      |
| JANE STREET GRP/JSG FIN                   | Jane Street Group / JSG Finance Inc                                             | CUSIP: 47077WAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     52000 | PA      | $54308.65     | 0.88%             | 2031-04-30      | Fixed         | 7.12%                 | No            | 2                  | On Loan: No      |
| KFC HLD/PIZZA HUT/TACO                    | KFC Holding Co/Pizza Hut Holdings LLC/Taco Bell of America LLC                  | CUSIP: 48250NAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     60000 | PA      | $59712.98     | 0.97%             | 2027-06-01      | Fixed         | 4.75%                 | No            | 2                  | On Loan: No      |
| LEVEL 3 FINANCING INC                     | Level 3 Financing Inc                                                           | CUSIP: 527298BV4<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |     53000 | PA      | $60240.24     | 0.98%             | 2029-11-15      | Fixed         | 11.00%                | No            | 2                  | On Loan: No      |
| 1011778 BC / NEW RED FIN                  | 1011778 BC ULC / New Red Finance Inc                                            | CUSIP: 68245XAR0<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |     60000 | PA      | $61263.17     | 0.99%             | 2029-06-15      | Fixed         | 6.12%                 | No            | 2                  | On Loan: No      |
| 1261229 BC LTD                            | 1261229 BC Ltd                                                                  | CUSIP: 68288AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |     60000 | PA      | $59402.23     | 0.96%             | 2032-04-15      | Fixed         | 10.00%                | No            | 2                  | On Loan: No      |
| PG&E CORP                                 | PG&E Corp                                                                       | CUSIP: 69331CAJ7<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |     60000 | PA      | $58244.26     | 0.94%             | 2030-07-01      | Fixed         | 5.25%                 | No            | 2                  | On Loan: No      |
| POST HOLDINGS INC                         | Post Holdings Inc                                                               | CUSIP: 737446AU8<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |     60000 | PA      | $61010.22     | 0.99%             | 2032-02-15      | Fixed         | 6.25%                 | No            | 2                  | On Loan: No      |
| QUIKRETE HOLDINGS INC                     | Quikrete Holdings Inc                                                           | CUSIP: 74843PAA8<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60952.68     | 0.99%             | 2032-03-01      | Fixed         | 6.38%                 | No            | 2                  | On Loan: No      |
| UNIVISION COMMUNICATIONS                  | Univision Communications Inc                                                    | CUSIP: 914906AZ5<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |     60000 | PA      | $57619.22     | 0.93%             | 2031-07-31      | Fixed         | 8.50%                 | No            | 2                  | On Loan: No      |
| VENTURE GLOBAL CALCASIEU                  | Venture Global Calcasieu Pass LLC                                               | CUSIP: 92328MAE3<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60919.65     | 0.99%             | 2030-01-15      | Fixed         | 6.25%                 | No            | 2                  | On Loan: No      |
| VENTURE GLOBAL LNG INC                    | Venture Global LNG Inc                                                          | CUSIP: 92332YAD3<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |     60000 | PA      | $63916.85     | 1.04%             | 2032-02-01      | Fixed         | 9.88%                 | No            | 2                  | On Loan: No      |
| VIKING OCEAN CRUISES SHI                  | Viking Ocean Cruises Ship VII Ltd                                               | CUSIP: 92682RAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |     60000 | PA      | $59305.48     | 0.96%             | 2029-02-15      | Fixed         | 5.62%                 | No            | 2                  | On Loan: No      |
| VISTRA OPERATIONS CO LLC                  | Vistra Operations Co LLC                                                        | CUSIP: 92840VAP7<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |     60000 | PA      | $63618.88     | 1.03%             | 2031-10-15      | Fixed         | 7.75%                 | No            | 2                  | On Loan: No      |
| VODAFONE GROUP PLC                        | Vodafone Group PLC                                                              | CUSIP: 92857WBQ2<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |     60000 | PA      | $61686.58     | 1.00%             | 2079-04-04      | Variable      | 7.00%                 | No            | 2                  | On Loan: No      |
| VMED O2 UK FINANCING I                    | Vmed O2 UK Financing I PLC                                                      | CUSIP: 92858RAD2<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |     60000 | PA      | $61819.70     | 1.00%             | 2032-04-15      | Fixed         | 7.75%                 | No            | 2                  | On Loan: No      |
| WALGREENS BOOTS ALLIANCE                  | Walgreens Boots Alliance Inc                                                    | CUSIP: 931427AW8<br>LEI: 549300RPTUOIXG4LIH86 | Long             | DBT              | CORP              | US        |     60000 | PA      | $62794.86     | 1.02%             | 2029-08-15      | Fixed         | 8.12%                 | No            | 2                  | On Loan: No      |
| WESCO DISTRIBUTION INC                    | WESCO Distribution Inc                                                          | CUSIP: 95081QAP9<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60733.73     | 0.99%             | 2028-06-15      | Fixed         | 7.25%                 | No            | 2                  | On Loan: No      |
| XPLR INFRAST OPERATING                    | XPLR Infrastructure Operating Partners LP                                       | CUSIP: 98380MAB1<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |     60000 | PA      | $63005.52     | 1.02%             | 2033-03-15      | Fixed         | 8.62%                 | No            | 2                  | On Loan: —       |
| RAKUTEN GROUP INC                         | Rakuten Group Inc                                                               | CUSIP: 75102WAG3<br>LEI: 529900IMXUCQKUL1H943 | Long             | DBT              | CORP              | JP        |     57000 | PA      | $61393.89     | 1.00%             | 2027-02-15      | Fixed         | 11.25%                | No            | 2                  | On Loan: No      |
| ROCKETMTGE CO-ISSUER INC                  | Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc                             | CUSIP: 77313LAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     66000 | PA      | $57016.05     | 0.92%             | 2033-10-15      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                   | Royal Caribbean Cruises Ltd                                                     | CUSIP: 780153AG7<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |     60000 | PA      | $63144.88     | 1.02%             | 2027-10-15      | Fixed         | 7.50%                 | No            | 2                  | On Loan: No      |
| SEAGATE HDD CAYMAN                        | Seagate HDD Cayman                                                              | CUSIP: 81180WBM2<br>LEI: 529900BD50TRWEG1SF63 | Long             | DBT              | CORP              | KY        |     53000 | PA      | $60124.47     | 0.98%             | 2032-12-01      | Fixed         | 9.62%                 | No            | 2                  | On Loan: No      |
| SERVICE CORP INTL                         | Service Corp International/US                                                   | CUSIP: 817565CH5<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |     60000 | PA      | $59625.27     | 0.97%             | 2032-10-15      | Fixed         | 5.75%                 | No            | 2                  | On Loan: No      |
| SERVICE PROPERTIES TRUST                  | Service Properties Trust                                                        | CUSIP: 81761LAE2<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60184.62     | 0.98%             | 2032-06-15      | Fixed         | 8.88%                 | No            | 2                  | On Loan: No      |
| SIRIUS XM RADIO LLC                       | Sirius XM Radio LLC                                                             | CUSIP: 82967NBC1<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |     60000 | PA      | $58994.97     | 0.96%             | 2029-07-01      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| SIX FLAGS ENT/SIX FLAG                    | Six Flags Entertainment Corp /Six Flags Theme Parks Inc/ Canada's Wonderland Co | CUSIP: 83002YAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     60000 | PA      | $61181.20     | 0.99%             | 2032-05-01      | Fixed         | 6.62%                 | No            | 2                  | On Loan: No      |
| SPIRIT AEROSYSTEMS INC                    | Spirit AeroSystems Inc                                                          | CUSIP: 85205TAN0<br>LEI: ZD2NBKV6GCC3UMGBM518 | Long             | DBT              | CORP              | US        |     56000 | PA      | $59717.37     | 0.97%             | 2029-11-30      | Fixed         | 9.38%                 | No            | 2                  | On Loan: No      |
| STANDARD BUILDING SOLUTI                  | Standard Building Solutions Inc                                                 | CUSIP: 853191AA2<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60970.34     | 0.99%             | 2032-08-15      | Fixed         | 6.50%                 | No            | 2                  | On Loan: No      |
| SUNOCO LP                                 | Sunoco LP                                                                       | CUSIP: 86765KAC3<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |     58000 | PA      | $60353.28     | 0.98%             | 2032-05-01      | Fixed         | 7.25%                 | No            | 2                  | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                   | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                    | CUSIP: 87470LAL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     60000 | PA      | $61017.86     | 0.99%             | 2029-02-15      | Fixed         | 7.38%                 | No            | 2                  | On Loan: No      |
| TENET HEALTHCARE CORP                     | Tenet Healthcare Corp                                                           | CUSIP: 88033GDU1<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |     60000 | PA      | $61803.23     | 1.00%             | 2031-05-15      | Fixed         | 6.75%                 | No            | 2                  | On Loan: No      |
| TRANSDIGM INC                             | TransDigm Inc                                                                   | CUSIP: 893647BT3<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |     58000 | PA      | $60047.31     | 0.97%             | 2031-12-01      | Fixed         | 7.12%                 | No            | 2                  | On Loan: No      |
| TRANSOCEAN INC                            | Transocean Inc                                                                  | CUSIP: 893830BX6<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | KY        |     56800 | PA      | $57579.99     | 0.93%             | 2030-02-15      | Fixed         | 8.75%                 | No            | 2                  | On Loan: No      |
| U.S. Bank Money Market Deposit Account    | U.S. Bank Money Market Deposit Account                                          | CUSIP: 8AMMF0A92<br>LEI: N/A                  | Long             | STIV             | RF                | US        |     12735 | NS      | $12735.35     | 0.21%             |  |  |  | No            | 1                  | On Loan: No      |
| UNITED RENTALS NORTH AM                   | United Rentals North America Inc                                                | CUSIP: 911365BM5<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |     60000 | PA      | $58675.07     | 0.95%             | 2027-11-15      | Fixed         | 3.88%                 | No            | 2                  | On Loan: No      |
| UNITI GROUP/CSL CAPITAL                   | Uniti Group LP / Uniti Group Finance 2019 Inc / CSL Capital LLC                 | CUSIP: 91327TAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     58000 | PA      | $61490.51     | 1.00%             | 2028-02-15      | Fixed         | 10.50%                | No            | 2                  | On Loan: No      |
| OLYMPUS WTR US HLDG CORP                  | Olympus Water US Holding Corp                                                   | CUSIP: 25259KAA8<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |     58000 | PA      | $60792.77     | 0.99%             | 2028-11-15      | Fixed         | 9.75%                 | No            | 2                  | On Loan: No      |
| LIFEPOINT HEALTH INC                      | LifePoint Health Inc                                                            | CUSIP: 53219LAW9<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |     58000 | PA      | $63810.85     | 1.04%             | 2030-10-15      | Fixed         | 11.00%                | No            | 2                  | On Loan: No      |
| MGM RESORTS INTL                          | MGM Resorts International                                                       | CUSIP: 552953CJ8<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |     60000 | PA      | $59873.59     | 0.97%             | 2032-04-15      | Fixed         | 6.50%                 | No            | 2                  | On Loan: No      |
| MPT OPER PARTNERSP/FINL                   | MPT Operating Partnership LP / MPT Finance Corp                                 | CUSIP: 55342UAQ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     58000 | PA      | $59484.83     | 0.96%             | 2032-02-15      | Fixed         | 8.50%                 | No            | 2                  | On Loan: No      |
| MAUSER PACKAGING SOLUT                    | Mauser Packaging Solutions Holding Co                                           | CUSIP: 57763RAD9<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60580.11     | 0.98%             | 2027-04-15      | Fixed         | 7.88%                 | No            | 2                  | On Loan: No      |
| MEDLINE BORROWER/MEDL CO                  | Medline Borrower LP/Medline Co-Issuer Inc                                       | CUSIP: 58506DAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     60000 | PA      | $61071.17     | 0.99%             | 2029-04-01      | Fixed         | 6.25%                 | No            | 2                  | On Loan: No      |
| MELCO RESORTS FINANCE                     | Melco Resorts Finance Ltd                                                       | CUSIP: 58547DAH2<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |     60000 | PA      | $59438.17     | 0.96%             | 2032-04-17      | Fixed         | 7.62%                 | No            | 2                  | On Loan: No      |
| NCL CORPORATION LTD                       | NCL Corp Ltd                                                                    | CUSIP: 62886HBN0<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |     58000 | PA      | $61080.94     | 0.99%             | 2029-01-15      | Fixed         | 8.12%                 | No            | 2                  | On Loan: No      |
| NRG ENERGY INC                            | NRG Energy Inc                                                                  | CUSIP: 629377CX8<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60014.76     | 0.97%             | 2034-11-01      | Fixed         | 6.25%                 | No            | 2                  | On Loan: No      |
| NATIONSTAR MTG HLD INC                    | Nationstar Mortgage Holdings Inc                                                | CUSIP: 63861CAF6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     60000 | PA      | $62572.12     | 1.02%             | 2032-02-01      | Fixed         | 7.12%                 | No            | 2                  | On Loan: No      |
| NAVIENT CORP                              | Navient Corp                                                                    | CUSIP: 63938CAP3<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |     53000 | PA      | $60044.42     | 0.97%             | 2031-03-15      | Fixed         | 11.50%                | No            | 2                  | On Loan: No      |
| NISSAN MOTOR ACCEPTANCE                   | Nissan Motor Acceptance Co LLC                                                  | CUSIP: 65480CAF2<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |     60000 | PA      | $61173.21     | 0.99%             | 2028-09-15      | Fixed         | 7.05%                 | No            | 2                  | On Loan: No      |
| NOVELIS CORP                              | Novelis Corp                                                                    | CUSIP: 670001AL0<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |     60000 | PA      | $61872.19     | 1.00%             | 2030-01-30      | Fixed         | 6.88%                 | No            | 2                  | On Loan: No      |
| ONEMAIN FINANCE CORP                      | OneMain Finance Corp                                                            | CUSIP: 682695AA9<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |     58000 | PA      | $60929.49     | 0.99%             | 2029-01-15      | Fixed         | 9.00%                 | No            | 2                  | On Loan: No      |
| OPEN TEXT CORP                            | Open Text Corp                                                                  | CUSIP: 683715AD8<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | CA        |     63000 | PA      | $58662.70     | 0.95%             | 2029-12-01      | Fixed         | 3.88%                 | No            | 2                  | On Loan: No      |
| ORGANON & CO/ORGANON FOR                  | Organon & Co / Organon Foreign Debt Co-Issuer BV                                | CUSIP: 68622FAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     60000 | PA      | $55897.52     | 0.91%             | 2034-05-15      | Fixed         | 6.75%                 | No            | 2                  | On Loan: No      |
| PANTHER ESCROW ISSUER                     | Panther Escrow Issuer LLC                                                       | CUSIP: 69867RAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     58000 | PA      | $59983.92     | 0.97%             | 2031-06-01      | Fixed         | 7.12%                 | No            | 2                  | On Loan: No      |
| PENNYMAC FIN SVCS INC                     | PennyMac Financial Services Inc                                                 | CUSIP: 70932MAD9<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |     58000 | PA      | $61148.22     | 0.99%             | 2029-12-15      | Fixed         | 7.88%                 | No            | 2                  | On Loan: No      |
| Mount Vernon Liquid Assets Portfolio, LLC | Mount Vernon Liquid Assets Portfolio, LLC                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |     45360 | NS      | $45360.00     | 0.74%             |  |  |  | No            | N/A                | On Loan: No      |
| AMERICAN AIRLINES/AADVAN                  | American Airlines Inc/AAdvantage Loyalty IP Ltd                                 | CUSIP: 00253XAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     60000 | PA      | $58959.67     | 0.96%             | 2029-04-20      | Fixed         | 5.75%                 | No            | 2                  | On Loan: No      |
| ALTICE FRANCE SA                          | Altice France SA                                                                | CUSIP: 02156LAA9<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |     60000 | PA      | $55213.63     | 0.90%             | 2027-02-01      | Fixed         | 8.12%                 | No            | 2                  | On Loan: No      |
| BALL CORP                                 | Ball Corp                                                                       | CUSIP: 058498AY2<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |     60000 | PA      | $61331.06     | 0.99%             | 2028-03-15      | Fixed         | 6.88%                 | No            | 2                  | On Loan: No      |
| BOMBARDIER INC                            | Bombardier Inc                                                                  | CUSIP: 097751CA7<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |     57000 | PA      | $61247.44     | 0.99%             | 2030-11-15      | Fixed         | 8.75%                 | No            | 2                  | On Loan: No      |
| BUCKEYE PARTNERS LP                       | Buckeye Partners LP                                                             | CUSIP: 118230AV3<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |     58000 | PA      | $59740.29     | 0.97%             | 2029-07-01      | Fixed         | 6.88%                 | No            | 2                  | On Loan: No      |
| BUILDERS FIRSTSOURCE INC                  | Builders FirstSource Inc                                                        | CUSIP: 12008RAS6<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |     60000 | PA      | $59880.31     | 0.97%             | 2034-03-01      | Fixed         | 6.38%                 | No            | 2                  | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                    | CCO Holdings LLC / CCO Holdings Capital Corp                                    | CUSIP: 1248EPCT8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     60000 | PA      | $62320.72     | 1.01%             | 2031-03-01      | Fixed         | 7.38%                 | No            | 2                  | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                  | CHS/Community Health Systems Inc                                                | CUSIP: 12543DBN9<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |     60000 | PA      | $63996.39     | 1.04%             | 2032-01-15      | Fixed         | 10.88%                | No            | 2                  | On Loan: No      |
| CSC HOLDINGS LLC                          | CSC Holdings LLC                                                                | CUSIP: 126307BN6<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |     60000 | PA      | $56284.39     | 0.91%             | 2029-01-31      | Fixed         | 11.75%                | No            | 2                  | On Loan: No      |
| CAESARS ENTERTAIN INC                     | Caesars Entertainment Inc                                                       | CUSIP: 12769GAB6<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |     60000 | PA      | $61530.32     | 1.00%             | 2030-02-15      | Fixed         | 7.00%                 | No            | 2                  | On Loan: No      |
| CALPINE CORP                              | Calpine Corp                                                                    | CUSIP: 131347CM6<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |     60000 | PA      | $58867.80     | 0.95%             | 2028-02-15      | Fixed         | 4.50%                 | No            | 2                  | On Loan: No      |
| CARNIVAL CORP                             | Carnival Corp                                                                   | CUSIP: 143658BX9<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |     60000 | PA      | $60101.48     | 0.97%             | 2033-02-15      | Fixed         | 6.12%                 | No            | 2                  | On Loan: No      |
| CELANESE US HOLDINGS LLC                  | Celanese US Holdings LLC                                                        | CUSIP: 15089QAY0<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |     60000 | PA      | $62604.40     | 1.02%             | 2033-11-15      | Fixed         | 7.20%                 | No            | 2                  | On Loan: No      |
| CHURCHILL DOWNS INC                       | Churchill Downs Inc                                                             | CUSIP: 171484AJ7<br>LEI: 529900FODTBQC8MIS994 | Long             | DBT              | CORP              | US        |     60000 | PA      | $61152.74     | 0.99%             | 2031-05-01      | Fixed         | 6.75%                 | No            | 2                  | On Loan: No      |
| CIVITAS RESOURCES INC                     | Civitas Resources Inc                                                           | CUSIP: 17888HAB9<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |     60000 | PA      | $58767.98     | 0.95%             | 2031-07-01      | Fixed         | 8.75%                 | No            | 2                  | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                  | Clarios Global LP / Clarios US Finance Co                                       | CUSIP: 18060TAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     60000 | PA      | $61104.77     | 0.99%             | 2030-02-15      | Fixed         | 6.75%                 | No            | 2                  | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                  | Clear Channel Outdoor Holdings Inc                                              | CUSIP: 18453HAE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     58000 | PA      | $60911.67     | 0.99%             | 2028-09-15      | Fixed         | 9.00%                 | No            | 2                  | On Loan: No      |
| CLEVELAND-CLIFFS INC                      | Cleveland-Cliffs Inc                                                            | CUSIP: 185899AS0<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |     60000 | PA      | $53920.92     | 0.87%             | 2031-09-15      | Fixed         | 7.50%                 | No            | 2                  | On Loan: No      |
| CLOUD SOFTWARE GRP INC                    | Cloud Software Group Inc                                                        | CUSIP: 18912UAC6<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |     58000 | PA      | $60999.44     | 0.99%             | 2032-06-30      | Fixed         | 8.25%                 | No            | 2                  | On Loan: No      |
| CLYDESDALE ACQUISITION                    | Clydesdale Acquisition Holdings Inc                                             | CUSIP: 18972EAC9<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |     59000 | PA      | $59867.33     | 0.97%             | 2030-01-15      | Fixed         | 6.88%                 | No            | 2                  | On Loan: No      |
| COMMSCOPE LLC                             | CommScope LLC                                                                   | CUSIP: 20338MAA0<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |     58000 | PA      | $60267.58     | 0.98%             | 2031-12-15      | Fixed         | 9.50%                 | No            | 2                  | On Loan: No      |
| DAVITA INC                                | DaVita Inc                                                                      | CUSIP: 23918KAW8<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60959.17     | 0.99%             | 2032-09-01      | Fixed         | 6.88%                 | No            | 2                  | On Loan: No      |
| DIRECTV FIN LLC/COINC                     | Directv Financing LLC / Directv Financing Co-Obligor Inc                        | CUSIP: 25461LAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     60000 | PA      | $58409.28     | 0.95%             | 2031-02-15      | Fixed         | 10.00%                | No            | 2                  | On Loan: No      |
| DISH NETWORK CORP                         | DISH Network Corp                                                               | CUSIP: 25470MAG4<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |     61000 | PA      | $62901.88     | 1.02%             | 2027-11-15      | Fixed         | 11.75%                | No            | 2                  | On Loan: No      |
| EMRLD BOR / EMRLD CO-ISS                  | EMRLD Borrower LP / Emerald Co-Issuer Inc                                       | CUSIP: 26873CAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     60000 | PA      | $61345.35     | 1.00%             | 2031-07-15      | Fixed         | 6.75%                 | No            | 2                  | On Loan: No      |
| ECHOSTAR CORP                             | EchoStar Corp                                                                   | CUSIP: 278768AC0<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |     53000 | PA      | $53299.91     | 0.86%             | 2029-11-30      | None          | 10.75%                | No            | 2                  | On Loan: No      |
| FMG RESOURCES AUG 2006                    | FMG Resources August 2006 Pty Ltd                                               | CUSIP: 30251GBE6<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |     60000 | PA      | $59864.75     | 0.97%             | 2032-04-15      | Fixed         | 6.12%                 | No            | 2                  | On Loan: No      |
| FORTRESS TRANS & INFRAST                  | Fortress Transportation and Infrastructure Investors LLC                        | CUSIP: 34960PAE1<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |     58000 | PA      | $60913.22     | 0.99%             | 2030-12-01      | Fixed         | 7.88%                 | No            | 2                  | On Loan: No      |
| FREEDOM MORTGAGE CORP                     | Freedom Mortgage Corp                                                           | CUSIP: 35640YAL1<br>LEI: 549300LYRWPSYPK6S325 | Long             | DBT              | CORP              | US        |     54000 | PA      | $59640.55     | 0.97%             | 2030-10-01      | Fixed         | 12.25%                | No            | 2                  | On Loan: No      |
| GFL ENVIRONMENTAL INC                     | GFL Environmental Inc                                                           | CUSIP: 36168QAQ7<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |     58000 | PA      | $60199.53     | 0.98%             | 2031-01-15      | Fixed         | 6.75%                 | No            | 2                  | On Loan: No      |
| FRONTIER FLORIDA LLC                      | Frontier Florida LLC                                                            | CUSIP: 362333AH9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     60000 | PA      | $61808.51     | 1.00%             | 2028-02-01      | Fixed         | 6.86%                 | No            | 2                  | On Loan: No      |
| GENESIS ENERGY LP/FIN                     | Genesis Energy LP / Genesis Energy Finance Corp                                 | CUSIP: 37185LAN2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     60000 | PA      | $63065.38     | 1.02%             | 2030-04-15      | Fixed         | 8.88%                 | No            | 2                  | On Loan: No      |
| GOODYEAR TIRE & RUBBER                    | Goodyear Tire & Rubber Co/The                                                   | CUSIP: 382550BK6<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |     65000 | PA      | $60448.67     | 0.98%             | 2033-04-30      | Fixed         | 5.62%                 | No            | 2                  | On Loan: No      |
| GRAY MEDIA INC                            | Gray Media Inc                                                                  | CUSIP: 389375AM8<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |     60000 | PA      | $63832.99     | 1.04%             | 2029-07-15      | Fixed         | 10.50%                | No            | 2                  | On Loan: No      |
| HESS MIDSTREAM OPERATION                  | Hess Midstream Operations LP                                                    | CUSIP: 428102AG2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     58000 | PA      | $59211.52     | 0.96%             | 2029-06-01      | Fixed         | 6.50%                 | No            | 2                  | On Loan: No      |
| HILCORP ENERGY I/HILCORP                  | Hilcorp Energy I LP / Hilcorp Finance Co                                        | CUSIP: 431318BC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     60000 | PA      | $59802.49     | 0.97%             | 2033-11-01      | Fixed         | 8.38%                 | No            | 2                  | On Loan: No      |
| HILTON DOMESTIC OPERATIN                  | Hilton Domestic Operating Co Inc                                                | CUSIP: 432833AQ4<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60936.42     | 0.99%             | 2032-04-01      | Fixed         | 6.12%                 | No            | 2                  | On Loan: No      |
| HUB INTERNATIONAL LTD                     | HUB International Ltd                                                           | CUSIP: 44332PAH4<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |     60000 | PA      | $62515.32     | 1.01%             | 2030-06-15      | Fixed         | 7.25%                 | No            | 2                  | On Loan: No      |
| ICAHN ENTERPRISES/FIN                     | Icahn Enterprises LP / Icahn Enterprises Finance Corp                           | CUSIP: 451102CK1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     60000 | PA      | $58503.14     | 0.95%             | 2029-11-15      | Fixed         | 10.00%                | No            | 2                  | On Loan: No      |
| BATH & BODY WORKS INC                     | Bath & Body Works Inc                                                           | CUSIP: 501797AR5<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |     60000 | PA      | $61570.67     | 1.00%             | 2029-06-15      | Fixed         | 7.50%                 | No            | 2                  | On Loan: No      |
| BLOCK INC                                 | Block Inc                                                                       | CUSIP: 852234AS2<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |     58000 | PA      | $59308.50     | 0.96%             | 2032-05-15      | Fixed         | 6.50%                 | No            | 2                  | On Loan: No      |

### Signature

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

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

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

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

**Title:** CFO COO Secretary