# EDGAR Filing Document

**Accession Number:** 0001618627
**File Stem:** 0001145549-25-049428
**Filing Date:** 2025-7
**Character Count:** 40955
**Document Hash:** 62a01b5e4c50659fa5087b72dc929b17
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-049428.hdr.sgml**: 20250729

**ACCESSION NUMBER**: 0001145549-25-049428

**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 Trust
- **CENTRAL INDEX KEY:** 0001618627

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23011
- **FILM NUMBER:** 251159094

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

**MAIL ADDRESS:**
- **STREET 1:** 615 EAST MICHIGAN STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PENN Capital Funds Trust
- **DATE OF NAME CHANGE:** 20140904

## Series and Classes Contracts Data

### Advent Convertible Bond ETF (Series ID: S000091735)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000259469 | Advent Convertible Bond ETF | ACVT            |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Advent Convertible Bond ETF** | **Advent Convertible Bond ETF** | **Advent Convertible Bond ETF** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **May 31, 2025 (Unaudited)** | **May 31, 2025 (Unaudited)** | **May 31, 2025 (Unaudited)** |
| **CONVERTIBLE BONDS - 90.2%** | **Par** | **Value** |
| **Automobiles - 2.8%** | **Automobiles - 2.8%** | **Automobiles - 2.8%** |
|  Rivian Automotive, Inc., 4.63%, 03/15/2029 | 311000 | $332187 |
|  Winnebago Industries, Inc., 3.25%, 01/15/2030 | 437000 | 384778 |
|  |  | 716965 |
| **Biotechnology - 5.7%** | **Biotechnology - 5.7%** | **Biotechnology - 5.7%** |
|  Exact Sciences Corp., 0.38%, 03/01/2028 | 355000 | 326423 |
|  Halozyme Therapeutics, Inc., 0.25%, 03/01/2027 | 240000 | 245350 |
|  Ionis Pharmaceuticals, Inc., 1.75%, 06/15/2028 | 509000 | 510909 |
|  Travere Therapeutics, Inc., 2.25%, 03/01/2029 | 398000 | 377622 |
|  |  | 1460304 |
| **Broadline Retail - 1.0%** | **Broadline Retail - 1.0%** | **Broadline Retail - 1.0%** |
|  Etsy, Inc., 0.13%, 09/01/2027 | 288000 | 257688 |
| **Capital Markets - 1.5%** | **Capital Markets - 1.5%** | **Capital Markets - 1.5%** |
|  Coinbase Global, Inc., 0.25%, 04/01/2030 | 357000 | 387345 |
| **Communications Equipment - 2.6%** | **Communications Equipment - 2.6%** | **Communications Equipment - 2.6%** |
| Lumentum Holdings, Inc. | Lumentum Holdings, Inc. | Lumentum Holdings, Inc. |
| &nbsp;&nbsp; 0.50%, 12/15/2026 | 243000 | 260861 |
| &nbsp;&nbsp; 0.50%, 06/15/2028 | 407000 | 391737 |
|  |  | 652598 |
| **Electric Utilities - 3.2%** | **Electric Utilities - 3.2%** | **Electric Utilities - 3.2%** |
|  FirstEnergy Corp., 4.00%, 05/01/2026 | 309000 | 315257 |
|  PG&E Corp., 4.25%, 12/01/2027 | 490000 | 509600 |
|  |  | 824857 |
| **Electronic Equipment, Instruments & Components - 3.6%** | **Electronic Equipment, Instruments & Components - 3.6%** | **Electronic Equipment, Instruments & Components - 3.6%** |
|  Itron, Inc., 0.00%, 03/15/2026 <sup>(a)</sup> | 484000 | 516428 |
|  Vishay Intertechnology, Inc., 2.25%, 09/15/2030 | 456000 | 396492 |
|  |  | 912920 |
| **Financial Services - 6.3%** | **Financial Services - 6.3%** | **Financial Services - 6.3%** |
|  Block, Inc., 0.25%, 11/01/2027 | 284000 | 253399 |
|  Global Payments, Inc., 1.50%, 03/01/2031 | 355000 | 312578 |
|  PennyMac Corp., 5.50%, 03/15/2026 | 254000 | 251778 |
|  Shift4 Payments, Inc., 0.50%, 08/01/2027 | 734000 | 782811 |
|  |  | 1600566 |
| **Ground Transportation - 1.5%** | **Ground Transportation - 1.5%** | **Ground Transportation - 1.5%** |
|  Lyft, Inc., 0.63%, 03/01/2029 | 122000 | 129564 |
|  Uber Technologies, Inc., 0.00%, 12/15/2025 <sup>(a)</sup> | 224000 | 253344 |
|  |  | 382908 |
| **Health Care Equipment & Supplies - 4.9%** | **Health Care Equipment & Supplies - 4.9%** | **Health Care Equipment & Supplies - 4.9%** |
|  Dexcom, Inc., 0.38%, 05/15/2028 | 558000 | 520009 |
|  Enovis Corp., 3.88%, 10/15/2028 | 254000 | 248412 |
|  Tandem Diabetes Care, Inc., 1.50%, 03/15/2029 | 488000 | 482827 |
|  |  | 1251248 |
| **Health Care Providers & Services - 1.0%** | **Health Care Providers & Services - 1.0%** | **Health Care Providers & Services - 1.0%** |
|  NeoGenomics, Inc., 0.25%, 01/15/2028 | 303000 | 259060 |
| **Health Care Technology - 2.7%** | **Health Care Technology - 2.7%** | **Health Care Technology - 2.7%** |
|  Evolent Health, Inc., 3.50%, 12/01/2029 | 309000 | 244110 |
|  Teladoc Health, Inc., 1.25%, 06/01/2027 | 473000 | 435775 |
|  |  | 679885 |
| **Hotel & Resort REITs - 1.5%** | **Hotel & Resort REITs - 1.5%** | **Hotel & Resort REITs - 1.5%** |
|  Pebblebrook Hotel Trust, 1.75%, 12/15/2026 | 407000 | 382191 |
| **Hotels, Restaurants & Leisure - 13.7%** | **Hotels, Restaurants & Leisure - 13.7%** | **Hotels, Restaurants & Leisure - 13.7%** |
|  Airbnb, Inc., 0.00%, 03/15/2026 <sup>(a)</sup> | 446000 | 428825 |
|  DraftKings Holdings, Inc., 0.00%, 03/15/2028 <sup>(a)</sup> | 859000 | 763651 |
|  Marriott Vacations Worldwide Corp., 3.25%, 12/15/2027 | 561000 | 522572 |
|  NCL Corp. Ltd., 1.13%, 02/15/2027 | 786000 | 757704 |
|  Penn Entertainment, Inc., 2.75%, 05/15/2026 | 759000 | 761734 |
|  Shake Shack, Inc., 0.00%, 03/01/2028 <sup>(a)</sup> | 257000 | 266637 |
|  |  | 3501123 |
| **Household Durables - 1.5%** | **Household Durables - 1.5%** | **Household Durables - 1.5%** |
|  Meritage Homes Corp., 1.75%, 05/15/2028 | 400000 | 388201 |
| **Interactive Media & Services - 1.2%** | **Interactive Media & Services - 1.2%** | **Interactive Media & Services - 1.2%** |
|  Snap, Inc., 0.50%, 05/01/2030 | 380000 | 318630 |
| **IT Services - 6.0%** | **IT Services - 6.0%** | **IT Services - 6.0%** |
|  Akamai Technologies, Inc., 1.13%, 02/15/2029 | 522000 | 490419 |
|  Cloudflare, Inc., 0.00%, 08/15/2026 <sup>(a)</sup> | 248000 | 276086 |
|  DigitalOcean Holdings, Inc., 0.00%, 12/01/2026 <sup>(a)</sup> | 811000 | 761874 |
|  |  | 1528379 |
| **Media - 1.0%** | **Media - 1.0%** | **Media - 1.0%** |
|  Cable One, Inc., 0.00%, 03/15/2026 <sup>(a)</sup> | 268000 | 253528 |
| **Oil, Gas & Consumable Fuels - 2.5%** | **Oil, Gas & Consumable Fuels - 2.5%** | **Oil, Gas & Consumable Fuels - 2.5%** |
|  Northern Oil & Gas, Inc., 3.63%, 04/15/2029 | 377000 | 379922 |
|  Peabody Energy Corp., 3.25%, 03/01/2028 | 248000 | 254200 |
|  |  | 634122 |
| **Pharmaceuticals - 3.0%** | **Pharmaceuticals - 3.0%** | **Pharmaceuticals - 3.0%** |
|  Amphastar Pharmaceuticals, Inc., 2.00%, 03/15/2029 | 293000 | 257511 |
|  Jazz Investments I Ltd., 2.00%, 06/15/2026 | 488000 | 498126 |
|  |  | 755637 |
| **Professional Services - 1.2%** | **Professional Services - 1.2%** | **Professional Services - 1.2%** |
|  Parsons Corp., 2.63%, 03/01/2029 | 298000 | 307089 |
| **Semiconductors & Semiconductor Equipment - 5.0%** | **Semiconductors & Semiconductor Equipment - 5.0%** | **Semiconductors & Semiconductor Equipment - 5.0%** |
|  MKS, Inc., 1.25%, 06/01/2030 | 410000 | 375803 |
| ON Semiconductor Corp. | ON Semiconductor Corp. | ON Semiconductor Corp. |
| &nbsp;&nbsp; 0.00%, 05/01/2027 <sup>(a)</sup> | 359000 | 388635 |
| &nbsp;&nbsp; 0.50%, 03/01/2029 | 585000 | 510559 |
|  |  | 1274997 |
| **Software - 10.0%** | **Software - 10.0%** | **Software - 10.0%** |
|  Confluent, Inc., 0.00%, 01/15/2027 <sup>(a)</sup> | 407000 | 376475 |
|  Dropbox, Inc., 0.00%, 03/01/2028 <sup>(a)</sup> | 371000 | 379904 |
|  Five9, Inc., 1.00%, 03/15/2029 | 598000 | 521157 |
|  PagerDuty, Inc., 1.50%, 10/15/2028 | 403000 | 376805 |
|  Rapid7, Inc., 1.25%, 03/15/2029 | 293000 | 253987 |
|  Workiva, Inc., 1.25%, 08/15/2028 | 682000 | 634771 |
|  |  | 2543099 |
| **Specialty Retail - 2.3%** | **Specialty Retail - 2.3%** | **Specialty Retail - 2.3%** |
| Wayfair, Inc. | Wayfair, Inc. | Wayfair, Inc. |
| &nbsp;&nbsp; 3.25%, 09/15/2027 | 373000 | 390531 |
| &nbsp;&nbsp; 3.50%, 11/15/2028 | 165000 | 197175 |
|  |  | 587706 |
| **Technology Hardware, Storage & Peripherals - 1.9%** | **Technology Hardware, Storage & Peripherals - 1.9%** | **Technology Hardware, Storage & Peripherals - 1.9%** |
|  Super Micro Computer, Inc., 3.50%, 03/01/2029 | 471000 | 475474 |
| **Trading Companies & Distributors - 1.1%** | **Trading Companies & Distributors - 1.1%** | **Trading Companies & Distributors - 1.1%** |
|  Xometry, Inc., 1.00%, 02/01/2027 | 259000 | 267778 |
| **Utilities - 1.5%** | **Utilities - 1.5%** | **Utilities - 1.5%** |
|  American Water Capital Corp., 3.63%, 06/15/2026 | 371000 | 377307 |
| **TOTAL CONVERTIBLE BONDS** (Cost $22,879,228) | **TOTAL CONVERTIBLE BONDS** (Cost $22,879,228) | 22981605 |
| **CONVERTIBLE PREFERRED STOCKS - 8.9%** | **Shares** | **Value**  |
| **Banks - 7.9%** | **Banks - 7.9%** |  |
|  Bank of America Corp., Series L, 7.25%, Perpetual | 875 | 1015875 |
|  Wells Fargo & Co., Series L, 7.50%, Perpetual | 877 | 996272 |
|  |  | 2012147 |
| **Financial Services - 1.0%** | **Financial Services - 1.0%** |  |
|  AMG Capital Trust II, 5.15%, 10/15/2037 | 4779 | 250687 |
| **TOTAL CONVERTIBLE PREFERRED STOCKS** (Cost $2,318,272) | **TOTAL CONVERTIBLE PREFERRED STOCKS** (Cost $2,318,272) | 2262834 |
| **SHORT-TERM INVESTMENTS - 0.5%** |  | **Value**  |
| **Money Market Funds - 0.5%** | **<u>Shares</u>** |  |
| First American Government Obligations Fund - Class X, 4.23% <sup>(b)</sup> | 138632 | 138632 |
| **TOTAL SHORT-TERM INVESTMENTS** (Cost $138,632) | **TOTAL SHORT-TERM INVESTMENTS** (Cost $138,632) | 138632 |
| **TOTAL INVESTMENTS - 99.6% (**Cost $25,336,132**)** | **TOTAL INVESTMENTS - 99.6% (**Cost $25,336,132**)** | 25383071 |
| Other Assets in Excess of Liabilities - 0.4% | Other Assets in Excess of Liabilities - 0.4% | 105789 |
| **TOTAL NET ASSETS - 100.0%** |  | $25488860 |
| two | two | –% |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | –% |
| The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. | The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. | The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. |

---

REIT - Real Estate Investment Trust<br>

(a) Zero coupon bonds make no periodic interest payments.

(b) 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)
Advent Convertible Bond 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;Convertible Bonds | – | 22981605 |  | 22981605 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Convertible Preferred Stocks | 2012147 | 250687 |  | 2262834 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 138632 | – |  | 138632 |
| Total Investments | 2150779 | 23232292 |  | 25383071 |
| 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. |
| Changes in valuation techniques may result in transfers into or out of assigned levels within the fair value hierarchy. There were no transfers into or out of Level 3 during the reporting period as compared to the security classifications from the prior year's annual report. | Changes in valuation techniques may result in transfers into or out of assigned levels within the fair value hierarchy. There were no transfers into or out of Level 3 during the reporting period as compared to the security classifications from the prior year's annual report. | Changes in valuation techniques may result in transfers into or out of assigned levels within the fair value hierarchy. There were no transfers into or out of Level 3 during the reporting period as compared to the security classifications from the prior year's annual report. | Changes in valuation techniques may result in transfers into or out of assigned levels within the fair value hierarchy. There were no transfers into or out of Level 3 during the reporting period as compared to the security classifications from the prior year's annual report. | Changes in valuation techniques may result in transfers into or out of assigned levels within the fair value hierarchy. There were no transfers into or out of Level 3 during the reporting period as compared to the security classifications from the prior year's annual report. |

---

## 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 Trust

- **b. Investment Company Act file number:** 811-23011

- **c. CIK number of Registrant:** 0001618627

- **d. LEI of Registrant:** 549300LEC95RYURPL757

- **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:** Advent Convertible Bond ETF

- **b. EDGAR series identifier (if any):** S000091735

- **c. LEI of Series:** 5299000BV8UTUPHUUZ42

**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:** $25500266.63

**Total Liabilities:** $11406.36

**Net Assets:** $25488860.27

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 5.420448000000 | **1-Year:** 174.467312000000 | **5-Year:** 256.357858000000 | **10-Year:** 18.634028000000 | **30-Year:** 0.000000000000

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

- **3-Month:** 29.724778000000 | **1-Year:** 1777.781794000000 | **5-Year:** 2094.926120000000 | **10-Year:** 8.354163000000 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000259469 |  | 0.25%                | 1.70%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  |  |  |
| Month 2  |  |  |
| Month 3  | $80257.95                | $46939.02                                  |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| First American Government Obli | First American Government Obligations Fund | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |    138632 | NS      | $138631.57    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| ITRON INC                      | Itron Inc                                  | CUSIP: 465741AN6<br>LEI: 24F6LSZD18II6ICG6S41 | Long             | DBT              | CORP              | US        |    484000 | PA      | $516428.15    | 2.03%             | 2026-03-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| LUMENTUM HOLDINGS INC          | Lumentum Holdings Inc                      | CUSIP: 55024UAF6<br>LEI: 549300JLWRRC38DWEF52 | Long             | DBT              | CORP              | US        |    407000 | PA      | $391737.50    | 1.54%             | 2028-06-15      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| ON SEMICONDUCTOR CORP          | ON Semiconductor Corp                      | CUSIP: 682189AS4<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | DBT              | CORP              | US        |    359000 | PA      | $388635.45    | 1.52%             | 2027-05-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| PEBBLEBROOK HOTEL TRUST        | Pebblebrook Hotel Trust                    | CUSIP: 70509VAA8<br>LEI: 5493004Q1NNH6JXCSI52 | Long             | DBT              | CORP              | US        |    407000 | PA      | $382190.75    | 1.50%             | 2026-12-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| PENNYMAC CORP                  | PennyMac Corp                              | CUSIP: 70932AAF0<br>LEI: EWN0I878407TKQNXZ933 | Long             | DBT              | CORP              | US        |    254000 | PA      | $251778.42    | 0.99%             | 2026-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| RIVIAN AUTO INC                | Rivian Automotive Inc                      | CUSIP: 76954AAB9<br>LEI: 25490004LNKJ84MFYY24 | Long             | DBT              | CORP              | US        |    311000 | PA      | $332186.88    | 1.30%             | 2029-03-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| SHIFT4 PAYMENTS INC            | Shift4 Payments Inc                        | CUSIP: 82452JAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    734000 | PA      | $782811.00    | 3.07%             | 2027-08-01      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| SUPER MICRO COMPUTER INC       | Super Micro Computer Inc                   | CUSIP: 86800UAB0<br>LEI: 54930022CZO1N2UGVW07 | Long             | DBT              | CORP              | US        |    471000 | PA      | $475474.50    | 1.87%             | 2029-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| TRAVERE THERAPEUTICS INC       | Travere Therapeutics Inc                   | CUSIP: 89422GAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    398000 | PA      | $377622.40    | 1.48%             | 2029-03-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| VISHAY INTERTECHNOLOGY         | Vishay Intertechnology Inc                 | CUSIP: 928298AR9<br>LEI: 5493009O8F3QQJTCQR75 | Long             | DBT              | CORP              | US        |    456000 | PA      | $396492.00    | 1.56%             | 2030-09-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| WORKIVA INC                    | Workiva Inc                                | CUSIP: 98139AAD7<br>LEI: 529900RTOQ8GRWHY1O58 | Long             | DBT              | CORP              | US        |    682000 | PA      | $634771.50    | 2.49%             | 2028-08-15      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD            | NCL Corp Ltd                               | CUSIP: 62886HBD2<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    786000 | PA      | $757704.00    | 2.97%             | 2027-02-15      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| AMERICAN WATER CAPITAL C       | American Water Capital Corp                | CUSIP: 03040WBE4<br>LEI: 5IDHQUFVC8Q2KIBBFF06 | Long             | DBT              | CORP              | US        |    371000 | PA      | $377307.00    | 1.48%             | 2026-06-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| ENOVIS CORP                    | Enovis Corp                                | CUSIP: 194014AB2<br>LEI: 635400OP2DYYYMOIYL17 | Long             | DBT              | CORP              | US        |    254000 | PA      | $248412.00    | 0.97%             | 2028-10-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| XOMETRY INC                    | Xometry Inc                                | CUSIP: 98423FAB5<br>LEI: 5493006JFRGU7YRRXE44 | Long             | DBT              | CORP              | US        |    259000 | PA      | $267777.70    | 1.05%             | 2027-02-01      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| AMG CAPITAL TRUST II           | AMG Capital Trust II                       | CUSIP: 00170F209<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      4779 | NS      | $250687.22    | 0.98%             |  |  |  | No            |                  2 | On Loan: No      |
| CABLE ONE INC                  | Cable One Inc                              | CUSIP: 12685JAE5<br>LEI: 549300648QS85T0XSH18 | Long             | DBT              | CORP              | US        |    268000 | PA      | $253528.00    | 0.99%             | 2026-03-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| COINBASE GLOBAL INC            | Coinbase Global Inc                        | CUSIP: 19260QAF4<br>LEI: 5493004G3J2SC154DU06 | Long             | DBT              | CORP              | US        |    357000 | PA      | $387345.00    | 1.52%             | 2030-04-01      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| DEXCOM INC                     | Dexcom Inc                                 | CUSIP: 252131AM9<br>LEI: 549300YSK3QDSFR5EU59 | Long             | DBT              | CORP              | US        |    558000 | PA      | $520008.56    | 2.04%             | 2028-05-15      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC            | Global Payments Inc                        | CUSIP: 37940XAU6<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |    355000 | PA      | $312577.50    | 1.23%             | 2031-03-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| PG&E CORP                      | PG&E Corp                                  | CUSIP: 69331CAL2<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |    490000 | PA      | $509600.00    | 2.00%             | 2027-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| SNAP INC                       | Snap Inc                                   | CUSIP: 83304AAK2<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | DBT              | CORP              | US        |    380000 | PA      | $318630.00    | 1.25%             | 2030-05-01      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| LUMENTUM HOLDINGS INC          | Lumentum Holdings Inc                      | CUSIP: 55024UAD1<br>LEI: 549300JLWRRC38DWEF52 | Long             | DBT              | CORP              | US        |    243000 | PA      | $260860.50    | 1.02%             | 2026-12-15      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| MARRIOTT VACATION WORLDW       | Marriott Vacations Worldwide Corp          | CUSIP: 57164YAF4<br>LEI: 549300WA6BT5H4F7IO94 | Long             | DBT              | CORP              | US        |    561000 | PA      | $522571.50    | 2.05%             | 2027-12-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| PEABODY ENERGY CORP            | Peabody Energy Corp                        | CUSIP: 704551AD2<br>LEI: EJCO258LNNVSKAR2JX59 | Long             | DBT              | CORP              | US        |    248000 | PA      | $254200.00    | 1.00%             | 2028-03-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| PENN ENTERTAINMENT INC         | Penn Entertainment Inc                     | CUSIP: 707569AU3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    759000 | PA      | $761734.03    | 2.99%             | 2026-05-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| EVOLENT HEALTH INC             | Evolent Health Inc                         | CUSIP: 30050BAH4<br>LEI: 549300CZOCFHQ2BBTR11 | Long             | DBT              | CORP              | US        |    309000 | PA      | $244110.00    | 0.96%             | 2029-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FIVE9 INC                      | Five9 Inc                                  | CUSIP: 338307AF8<br>LEI: 254900MXP6EWY0SFFR59 | Long             | DBT              | CORP              | US        |    598000 | PA      | $521157.00    | 2.04%             | 2029-03-15      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| JAZZ INVESTMENTS I LTD         | Jazz Investments I Ltd                     | CUSIP: 472145AF8<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    488000 | PA      | $498126.00    | 1.95%             | 2026-06-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| LYFT INC                       | Lyft Inc                                   | CUSIP: 55087PAD6<br>LEI: 549300H7I5VN334XVZ52 | Long             | DBT              | CORP              | US        |    122000 | PA      | $129564.00    | 0.51%             | 2029-03-01      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| TELADOC HEALTH INC             | Teladoc Health Inc                         | CUSIP: 87918AAF2<br>LEI: 549300I2PVFBC9MFAC61 | Long             | DBT              | CORP              | US        |    473000 | PA      | $435774.90    | 1.71%             | 2027-06-01      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| HALOZYME THERAPEUTICS IN       | Halozyme Therapeutics Inc                  | CUSIP: 40637HAD1<br>LEI: 529900242I3SV9AGM753 | Long             | DBT              | CORP              | US        |    240000 | PA      | $245350.20    | 0.96%             | 2027-03-01      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| AMPHASTAR PHARMACEUTICAL       | Amphastar Pharmaceuticals Inc              | CUSIP: 03209RAB9<br>LEI: 54930055TH0ZLSAQMJ38 | Long             | DBT              | CORP              | US        |    293000 | PA      | $257511.00    | 1.01%             | 2029-03-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| RAPID7 INC                     | Rapid7 Inc                                 | CUSIP: 753422AH7<br>LEI: 549300GNVG5D60KEYN14 | Long             | DBT              | CORP              | US        |    293000 | PA      | $253987.05    | 1.00%             | 2029-03-15      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY          | Wells Fargo & Co                           | CUSIP: 949746804<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |       877 | NS      | $996272.00    | 3.91%             |  |  |  | No            |                  1 | On Loan: No      |
| AKAMAI TECHNOLOGIES INC        | Akamai Technologies Inc                    | CUSIP: 00971TAN1<br>LEI: OC1LZNN2LF5WTJ5RIL89 | Long             | DBT              | CORP              | US        |    522000 | PA      | $490419.00    | 1.92%             | 2029-02-15      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| CLOUDFLARE INC                 | Cloudflare Inc                             | CUSIP: 18915MAC1<br>LEI: 5493007DY18BGNLDWU14 | Long             | DBT              | CORP              | US        |    248000 | PA      | $276086.00    | 1.08%             | 2026-08-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| DIGITALOCEAN HOLDINGS          | DigitalOcean Holdings Inc                  | CUSIP: 25402DAB8<br>LEI: 549300EPISPY3RE3DL21 | Long             | DBT              | CORP              | US        |    811000 | PA      | $761873.68    | 2.99%             | 2026-12-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| AIRBNB INC                     | Airbnb Inc                                 | CUSIP: 009066AB7<br>LEI: 549300HMUDNO0RY56D37 | Long             | DBT              | CORP              | US        |    446000 | PA      | $428824.99    | 1.68%             | 2026-03-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| NEOGENOMICS INC                | NeoGenomics Inc                            | CUSIP: 64049MAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    303000 | PA      | $259060.28    | 1.02%             | 2028-01-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| NORTHERN OIL & GAS INC         | Northern Oil & Gas Inc                     | CUSIP: 665531AJ8<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | DBT              | CORP              | US        |    377000 | PA      | $379921.75    | 1.49%             | 2029-04-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| PAGERDUTY INC.                 | PagerDuty Inc                              | CUSIP: 69553PAD2<br>LEI: 549300U1SB749EDAGH21 | Long             | DBT              | CORP              | US        |    403000 | PA      | $376805.00    | 1.48%             | 2028-10-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| DRAFTKINGS HOLDINGS INC        | DraftKings Holdings Inc                    | CUSIP: 26142RAB0<br>LEI: 5493008P45UYYL683Z97 | Long             | DBT              | CORP              | US        |    859000 | PA      | $763651.00    | 3.00%             | 2028-03-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| EXACT SCIENCES CORP            | Exact Sciences Corp                        | CUSIP: 30063PAC9<br>LEI: 549300VM3X1FYD4N9Z14 | Long             | DBT              | CORP              | US        |    355000 | PA      | $326422.50    | 1.28%             | 2028-03-01      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| FIRSTENERGY CORP               | FirstEnergy Corp                           | CUSIP: 337932AR8<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |    309000 | PA      | $315257.25    | 1.24%             | 2026-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WAYFAIR INC                    | Wayfair Inc                                | CUSIP: 94419LAP6<br>LEI: 54930027N9ZAVYFDHK53 | Long             | DBT              | CORP              | US        |    373000 | PA      | $390531.00    | 1.53%             | 2027-09-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| WINNEBAGO INDUSTRIES           | Winnebago Industries Inc                   | CUSIP: 974637AF7<br>LEI: 549300B7OYKYJLTE3G11 | Long             | DBT              | CORP              | US        |    437000 | PA      | $384778.50    | 1.51%             | 2030-01-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP           | Bank of America Corp                       | CUSIP: 060505682<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |       875 | NS      | $1015875.00   | 3.99%             |  |  |  | No            |                  1 | On Loan: No      |
| DROPBOX INC                    | Dropbox Inc                                | CUSIP: 26210CAD6<br>LEI: 549300JCDF7UAR6TJR51 | Long             | DBT              | CORP              | US        |    371000 | PA      | $379904.00    | 1.49%             | 2028-03-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| ETSY INC                       | Etsy Inc                                   | CUSIP: 29786AAL0<br>LEI: 54930089Q7XT501AEA40 | Long             | DBT              | CORP              | US        |    288000 | PA      | $257688.00    | 1.01%             | 2027-09-01      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| MKS INC                        | MKS Inc                                    | CUSIP: 55306NAB0<br>LEI: 549300KEQATBHAGVF505 | Long             | DBT              | CORP              | US        |    410000 | PA      | $375803.01    | 1.47%             | 2030-06-01      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                      | Block Inc                                  | CUSIP: 852234AK9<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |    284000 | PA      | $253399.00    | 0.99%             | 2027-11-01      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| CONFLUENT INC                  | Confluent Inc                              | CUSIP: 20717MAB9<br>LEI: 254900MRZ83YWUV7SN74 | Long             | DBT              | CORP              | US        |    407000 | PA      | $376475.00    | 1.48%             | 2027-01-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| IONIS PHARMACEUTICALS IN       | Ionis Pharmaceuticals Inc                  | CUSIP: 462222AF7<br>LEI: 549300SI4ZGLG0BLUZ92 | Long             | DBT              | CORP              | US        |    509000 | PA      | $510908.75    | 2.00%             | 2028-06-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| MERITAGE HOMES CORP            | Meritage Homes Corp                        | CUSIP: 59001ABF8<br>LEI: 52990044W9UMFJO2FB97 | Long             | DBT              | CORP              | US        |    400000 | PA      | $388201.00    | 1.52%             | 2028-05-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| ON SEMICONDUCTOR CORP          | ON Semiconductor Corp                      | CUSIP: 682189AU9<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | DBT              | CORP              | US        |    585000 | PA      | $510558.75    | 2.00%             | 2029-03-01      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| PARSONS CORP                   | Parsons Corp                               | CUSIP: 70202LAD4<br>LEI: 549300ZXH0VRBSEPX752 | Long             | DBT              | CORP              | US        |    298000 | PA      | $307089.00    | 1.20%             | 2029-03-01      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| SHAKE SHACK INC                | Shake Shack Inc                            | CUSIP: 819047AB7<br>LEI: 529900J74GJAHYP80N79 | Long             | DBT              | CORP              | US        |    257000 | PA      | $266637.50    | 1.05%             | 2028-03-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| TANDEM DIABETES CARE INC       | Tandem Diabetes Care Inc                   | CUSIP: 875372AD6<br>LEI: 549300JEPFOD0K4D3I05 | Long             | DBT              | CORP              | US        |    488000 | PA      | $482827.20    | 1.89%             | 2029-03-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| UBER TECHNOLOGIES INC          | Uber Technologies Inc                      | CUSIP: 90353TAJ9<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |    224000 | PA      | $253344.00    | 0.99%             | 2025-12-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| WAYFAIR INC                    | Wayfair Inc                                | CUSIP: 94419LAR2<br>LEI: 54930027N9ZAVYFDHK53 | Long             | DBT              | CORP              | US        |    165000 | PA      | $197175.00    | 0.77%             | 2028-11-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |

### Signature

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

**Name of Applicant:** RBB Fund Trust

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

**Name of Signer:** RBB Fund Trust

**Title:** CFO COO Secretary