# EDGAR Filing Document

**Accession Number:** 0001272950
**File Stem:** 0000940400-25-009957
**Filing Date:** 2025-11
**Character Count:** 108300
**Document Hash:** cc24cc1736b61c455a29c6cb4f07e56f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-009957.hdr.sgml**: 20251124

**ACCESSION NUMBER**: 0000940400-25-009957

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251124

**DATE AS OF CHANGE**: 20251124

**PERIOD START**: 20250930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** RBC FUNDS TRUST
- **CENTRAL INDEX KEY:** 0001272950

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21475
- **FILM NUMBER:** 251513821

**BUSINESS ADDRESS:**
- **STREET 1:** 250 NICOLLET MALL
- **STREET 2:** SUITE 1550
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55401
- **BUSINESS PHONE:** 612-380-1198

**MAIL ADDRESS:**
- **STREET 1:** 250 NICOLLET MALL
- **STREET 2:** SUITE 1550
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55401

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TAMARACK FUNDS TRUST
- **DATE OF NAME CHANGE:** 20031212

## Series and Classes Contracts Data

### RBC BlueBay Core Plus Bond Fund (Series ID: S000074159)

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

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** RBC Funds Trust

- **b. Investment Company Act file number:** 811-21475

- **c. CIK number of Registrant:** 0001272950

- **d. LEI of Registrant:** 549300456VUEP58RCU35

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

  - **Street Address 1:** 250 Nicollet Mall

  - **City:** Minneapolis

  - **State:** MN

  - **Foreign country:** US

  - **Zip / Postal Code:** 55401

  - **Telephone number:** 612-376-7000

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

- **a. Name of Series:** RBC BlueBay Core Plus Bond Fund

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

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

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

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

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $98074821.93

**Total Liabilities:** $24849083.25

**Net Assets:** $73225738.68

**Delayed Delivery Securities:** $6669596.30

**Stand-by Commitments:** $10475386.74

**Cash Not Reported:** $2585092.62

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 2131.79000000 | **1-Year:** 2488.98000000 | **5-Year:** 8159.26000000 | **10-Year:** 13795.13000000 | **30-Year:** 4325.12000000

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

- **3-Month:** 491.18000000 | **1-Year:** 4854.36000000 | **5-Year:** 9811.76000000 | **10-Year:** 4885.65000000 | **30-Year:** 1677.78000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000231739 | -0.14%               | 1.86%                | 1.53%                |
| Class ID C000231741 | -0.01%               | 1.88%                | 1.55%                |
| Class ID C000231740 | 0.00%                | 1.88%                | 1.44%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $336859.95               | $-606103.41                                |
| Month 2  | $243382.74               | $365902.42                                 |
| Month 3  | $338496.85               | $444877.25                                 |

**Designated Index Information**

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

- **Index Identifier:** LBUSTRUU

### Schedule of Portfolio Investments

| Name                                          | Title                                                                           | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| PLAINS ALL AMERICAN PIPE                      | Plains All American Pipeline LP                                                 | CUSIP: 726503AE5<br>LEI: 5521FA2ITF25TVH63740 | Long             | DBT              | CORP              | US        |    480000 | PA      | $480128.33    | 0.66%             | N/A             | Floating      | 8.58%                 | No            |                  2 | On Loan: No      |
| Crown Point CLO Ltd                           | Crown Point CLO IV Ltd                                                          | CUSIP: 22845XAL4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $494450.00    | 0.68%             | 2031-04-20      | Floating      | 7.34%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                      | OBX 2023-NQM10 Trust                                                            | CUSIP: 67449CAB7<br>LEI: 254900O44XNRXAW7W466 | Long             | ABS-MBS          | CORP              | US        |    252448 | PA      | $255221.76    | 0.35%             | 2063-10-25      | Variable      | 6.92%                 | No            |                  2 | On Loan: No      |
| SWCH Commercial Mortgage Trust                | SWCH Commercial Mortgage Trust 2025-DATA                                        | CUSIP: 78489CAD1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    590000 | PA      | $586967.22    | 0.80%             | 2042-02-15      | Floating      | 6.79%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                            | Banco Santander SA                                                              | CUSIP: 05964HBC8<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $201667.51    | 0.28%             | 2028-03-14      | Floating      | 5.69%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                        | General Motors Financial Co Inc                                                 | CUSIP: 37045XCA2<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    340000 | PA      | $337011.38    | 0.46%             | N/A             | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BW REAL ESTATE INC                            | BW Real Estate Inc                                                              | CUSIP: 05614HAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    510000 | PA      | $526306.05    | 0.72%             | N/A             | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| WEBSTER FINANCIAL CORP                        | Webster Financial Corp                                                          | CUSIP: 947890AK5<br>LEI: KMRURHT0VWKYS6Z5KU67 | Long             | DBT              | CORP              | US        |    464000 | PA      | $464177.86    | 0.63%             | 2035-09-11      | Fixed         | 5.78%                 | No            |                  2 | On Loan: No      |
| HA SUSTAINABLE INF CAP                        | HA Sustainable Infrastructure Capital Inc                                       | CUSIP: 40408AAB7<br>LEI: 254900ZZRL7MWL1X8E92 | Long             | DBT              | CORP              | US        |    441000 | PA      | $454788.21    | 0.62%             | 2035-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Affirm Inc                                    | Affirm Asset Securitization Trust 2024-X2                                       | CUSIP: 00833QAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    150000 | PA      | $150424.42    | 0.21%             | 2029-12-17      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| BROADSTONE NET LEASE LLC                      | Broadstone Net Lease LLC                                                        | CUSIP: 11134GAA8<br>LEI: 54930089IBT6J4WBTI50 | Long             | DBT              | CORP              | US        |    360000 | PA      | $357778.16    | 0.49%             | 2032-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOMES Trust                                   | HOMES 2025-AFC2 Trust                                                           | CUSIP: 43761YAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    580126 | PA      | $584496.76    | 0.80%             | 2060-06-25      | Variable      | 5.47%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                | NOK/EUR FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $3391.12      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.   | US 10YR ULTRA                                                                   | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       -22 | NC      | $173.77       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BGC GROUP INC                                 | BGC Group Inc                                                                   | CUSIP: 05555LAC5<br>LEI: 2549001IGRCG4F0RLD36 | Long             | DBT              | CORP              | US        |    250000 | PA      | $256124.39    | 0.35%             | 2030-04-02      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                            | Energy Transfer LP                                                              | CUSIP: 29273RBA6<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    262000 | PA      | $261304.29    | 0.36%             | 2066-11-01      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                   | Oracle Corp                                                                     | CUSIP: 68389XDT9<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    740000 | PA      | $739486.70    | 1.01%             | 2065-09-26      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                | NOK/EUR FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $138.33       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| INTEL CORP                                    | Intel Corp                                                                      | CUSIP: 458140CM0<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    210000 | PA      | $201785.53    | 0.28%             | 2054-02-21      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                     | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F0306A1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1925000 | PA      | $1690708.25   | 2.31%             | 2055-10-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR CO                               | Nissan Motor Co Ltd                                                             | CUSIP: 654744AD3<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | JP        |    336000 | PA      | $316457.06    | 0.43%             | 2030-09-17      | Fixed         | 4.81%                 | No            |                  2 | On Loan: No      |
| JAPAN (30 YEAR ISSUE)                         | Japan Government Thirty Year Bond                                               | CUSIP: 000000000<br>LEI: 353800WZS8AXZXFUC241 | Long             | DBT              | NUSS              | JP        |  84200000 | PA      | $484896.22    | 0.66%             | 2054-12-20      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                      | IRS USD                                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DIR              | CORP              | US        |         1 | NC      | $-241.17      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Switch ABS Issuer, LLC                        | Switch ABS Issuer LLC                                                           | CUSIP: 871044AG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    310000 | PA      | $313614.70    | 0.43%             | 2054-06-25      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| VAR ENERGI ASA                                | Var Energi ASA                                                                  | CUSIP: 92212WAG5<br>LEI: 549300LIVN3FFOJN2K47 | Long             | DBT              | CORP              | NO        |    246000 | PA      | $261472.40    | 0.36%             | 2035-05-22      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| KEYCORP                                       | KeyCorp                                                                         | CUSIP: 49326EEP4<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | DBT              | CORP              | US        |    178000 | PA      | $193133.49    | 0.26%             | 2035-03-06      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| FOUNDRY JV HOLDCO LLC                         | Foundry JV Holdco LLC                                                           | CUSIP: 350930AE3<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |    200000 | PA      | $216759.71    | 0.30%             | 2038-01-25      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| Shackleton CLO LTD                            | Shackleton 2015-VII-R CLO Ltd                                                   | CUSIP: 81883AAY5<br>LEI: 549300NCJRO2LKFZ8G86 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $498950.00    | 0.68%             | 2031-07-15      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.   | US 10YR NOTE (CBT)                                                              | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        21 | NC      | $110.50       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| WHISTLER PIPELINE LLC                         | Whistler Pipeline LLC                                                           | CUSIP: 96337RAB8<br>LEI: 549300NG57SGLTNW5C85 | Long             | DBT              | CORP              | US        |    110000 | PA      | $114328.62    | 0.16%             | 2031-09-30      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                     | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F0326A7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1175000 | PA      | $1073801.95   | 1.47%             | 2055-10-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ALTAGAS LTD                                   | AltaGas Ltd                                                                     | CUSIP: 021361AD2<br>LEI: 2549008X5V70MOS4HM10 | Long             | DBT              | CORP              | CA        |    253000 | PA      | $262374.56    | 0.36%             | 2054-10-15      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| AMERICAN NATIONAL GROUP                       | American National Group Inc                                                     | CUSIP: 025676AR8<br>LEI: 549300RK5RZQ740FPL83 | Long             | DBT              | CORP              | US        |    335000 | PA      | $345429.85    | 0.47%             | 2055-12-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                      | OBX 2023-NQM3 Trust                                                             | CUSIP: 67117PAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    308902 | PA      | $309563.89    | 0.42%             | 2063-02-25      | Variable      | 5.95%                 | No            |                  2 | On Loan: No      |
| HONO Mortgage Trust                           | HONO 2021-LULU Mortgage Trust                                                   | CUSIP: 40390MAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $248856.33    | 0.34%             | 2036-10-15      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| Northwoods Capital Ltd                        | Northwoods Capital XVII Ltd                                                     | CUSIP: 66860PAG9<br>LEI: 549300VSNJNLNM3KF997 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $498250.00    | 0.68%             | 2031-04-22      | Floating      | 7.44%                 | No            |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATION                      | Hess Midstream Operations LP                                                    | CUSIP: 428102AH0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $203812.98    | 0.28%             | 2028-03-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| MACQUARIE AIRFINANCE HLD                      | Macquarie Airfinance Holdings Ltd                                               | CUSIP: 55609NAF5<br>LEI: 549300MCGUSL5B852H65 | Long             | DBT              | CORP              | GB        |    430000 | PA      | $437285.53    | 0.60%             | 2028-03-27      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| ENFRAGEN ENERGIA SUR SAU                      | EnfraGen Energia Sur SAU/ EnfraGen Chile SpA/ EnfraGen Spain SAU                | CUSIP: 29281MAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | ES        |    200000 | PA      | $210087.33    | 0.29%             | 2032-06-30      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| JAPAN (30 YEAR ISSUE)                         | Japan Government Thirty Year Bond                                               | CUSIP: 000000000<br>LEI: 353800WZS8AXZXFUC241 | Long             | DBT              | NUSS              | JP        |  78650000 | PA      | $433058.64    | 0.59%             | 2054-09-20      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                    | Fannie Mae Pool                                                                 | CUSIP: 3140LXFM2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    845724 | PA      | $799058.02    | 1.09%             | 2052-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ATHENE HOLDING LTD                            | Athene Holding Ltd                                                              | CUSIP: 04686JAL5<br>LEI: 549300H316CT32FQXI76 | Long             | DBT              | CORP              | US        |    181000 | PA      | $193874.55    | 0.26%             | 2055-05-19      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                    | Fannie Mae Pool                                                                 | CUSIP: 3140LWY68<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    216711 | PA      | $222233.83    | 0.30%             | 2052-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                     | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F0226A8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2950000 | PA      | $2485327.80   | 3.39%             | 2055-10-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| INTEL CORP                                    | Intel Corp                                                                      | CUSIP: 458140BX7<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    283000 | PA      | $169292.96    | 0.23%             | 2061-08-12      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                            | Energy Transfer LP                                                              | CUSIP: 29273VBG4<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    337000 | PA      | $335992.93    | 0.46%             | 2056-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.   | US LONG BOND(CBT)                                                               | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        21 | NC      | $32372.30     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| REPSOL E&P CAP MARKETS                        | Repsol E&P Capital Markets US LLC                                               | CUSIP: 76026AAC1<br>LEI: 894500D0J12FRZ3Q0M15 | Long             | DBT              | CORP              | US        |    200000 | PA      | $203502.57    | 0.28%             | 2035-09-16      | Fixed         | 5.98%                 | No            |                  2 | On Loan: No      |
| PILGRIM'S PRIDE CORP                          | Pilgrim's Pride Corp                                                            | CUSIP: 72147KAH1<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | DBT              | CORP              | US        |    225000 | PA      | $206041.12    | 0.28%             | 2032-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                      | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175BT0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    211000 | PA      | $166829.47    | 0.23%             | 2050-03-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| ZIONS BANCORP NA                              | Zions Bancorp NA                                                                | CUSIP: 98971DAD2<br>LEI: 8WH0EE09O9V05QJZ3V89 | Long             | DBT              | CORP              | US        |    250000 | PA      | $250820.62    | 0.34%             | 2028-08-18      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE SA                            | Credit Agricole SA                                                              | CUSIP: 225313AT2<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $306108.15    | 0.42%             | N/A             | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                    | Fannie Mae Pool                                                                 | CUSIP: 3140QQJN6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    503220 | PA      | $505568.32    | 0.69%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA                           | Bank of Nova Scotia/The                                                         | CUSIP: 06419GEE2<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |   2332000 | PA      | $2326500.61   | 3.18%             | 2085-10-27      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| NATIONAL HEALTH INVESTOR                      | National Health Investors Inc                                                   | CUSIP: 63633DAG9<br>LEI: 549300ZPKZIG6DKDEC02 | Long             | DBT              | CORP              | US        |    509000 | PA      | $504784.73    | 0.69%             | 2033-02-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                 | Citigroup Inc                                                                   | CUSIP: 172967QH7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    190000 | PA      | $191895.43    | 0.26%             | 2036-09-11      | Fixed         | 5.17%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                      | HILTON DOMESTIC OPERATING CO INC                                                | CUSIP: 43289DAK9<br>LEI: 5493003EG7H0N1E4XV50 | Long             | LON              | CORP              | US        |    400000 | PA      | $400256.00    | 0.55%             | 2030-11-08      | Floating      | 5.90%                 | No            |                  2 | On Loan: No      |
| SOUTH BOW USA INFRA HLDS                      | South Bow USA Infrastructure Holdings LLC                                       | CUSIP: 83007CAH5<br>LEI: 254900Z1WAY7QFQ7O850 | Long             | DBT              | CORP              | US        |    205000 | PA      | $199989.03    | 0.27%             | 2054-10-01      | Fixed         | 6.18%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                      | CDS CDX.NA.IG.45.V1                                                             | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DCR              | CORP              | US        |         1 | NC      | $-263515.12   | -0.36%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                      | IRS JPY                                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DIR              | CORP              | US        |         1 | NC      | $22737.53     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| AMERICAN NATIONAL GROUP                       | American National Group Inc                                                     | CUSIP: 025676AQ0<br>LEI: 549300RK5RZQ740FPL83 | Long             | DBT              | CORP              | US        |    232000 | PA      | $237009.82    | 0.32%             | 2035-07-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FIDELIS INSUR HLD LTD                         | Fidelis Insurance Holdings Ltd                                                  | CUSIP: 31575FAC0<br>LEI: 549300CDMGCAGJQ7DX03 | Long             | DBT              | CORP              | BM        |    369000 | PA      | $395337.18    | 0.54%             | 2055-06-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| HARBOUR ENERGY PLC                            | Harbour Energy PLC                                                              | CUSIP: 411618AD3<br>LEI: 213800YPC42DYBKVPF97 | Long             | DBT              | CORP              | GB        |    180000 | PA      | $184602.64    | 0.25%             | 2035-04-01      | Fixed         | 6.33%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                    | Verus Securitization Trust 2023-INV2                                            | CUSIP: 92540BAC3<br>LEI: 213800D3C9UXVQ7TZF09 | Long             | ABS-MBS          | CORP              | US        |    307521 | PA      | $310290.95    | 0.42%             | 2068-08-25      | Variable      | 7.08%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.   | US ULTRA BOND CBT                                                               | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       -26 | NC      | $2300.83      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.   | US 2YR NOTE (CBT)                                                               | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       160 | NC      | $-36419.94    | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| OSAKA EXCHANGE,INC                            | JAPAN 10Y BOND(OSE)                                                             | CUSIP: 000000000<br>LEI: 3538001249AILNPRUX57 | N/A              | DIR              | CORP              | JP        |        -7 | NC      | $47482.40     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| SOCIETE GENERALE                              | Societe Generale SA                                                             | CUSIP: 000000000<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    230000 | PA      | $216360.24    | 0.30%             | N/A             | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| M&T BANK CORPORATION                          | M&T Bank Corp                                                                   | CUSIP: 55261FAV6<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |    187000 | PA      | $189598.36    | 0.26%             | 2036-01-16      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Summit Issuer, LLC                            | Summit Issuer LLC                                                               | CUSIP: 86613XAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    480000 | PA      | $476979.68    | 0.65%             | 2050-12-20      | Fixed         | 2.29%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                      | IRS USD                                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DIR              | CORP              | US        |         1 | NC      | $-801.18      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus                | BRAVO Residential Funding Trust 2023-NQM5                                       | CUSIP: 10569UAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    160036 | PA      | $161353.50    | 0.22%             | 2063-06-25      | Variable      | 7.01%                 | No            |                  2 | On Loan: No      |
| ESSENT GROUP LTD                              | Essent Group Ltd                                                                | CUSIP: 29669JAA7<br>LEI: 254900QUO860OUT6ZF83 | Long             | DBT              | CORP              | BM        |    295000 | PA      | $309038.66    | 0.42%             | 2029-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                 | Citigroup Inc                                                                   | CUSIP: 000000000<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    360000 | PA      | $435855.51    | 0.60%             | 2036-04-29      | Fixed         | 4.11%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                      | IRS USD                                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DIR              | CORP              | US        |         1 | NC      | $-201.87      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| SYNCHRONY FINANCIAL                           | Synchrony Financial                                                             | CUSIP: 87165BAX1<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |    200000 | PA      | $201664.90    | 0.28%             | 2029-07-29      | Fixed         | 5.02%                 | No            |                  2 | On Loan: No      |
| COMMERZBANK AG                                | Commerzbank AG                                                                  | CUSIP: 000000000<br>LEI: 851WYGNLUQLFZBSYGB56 | Long             | DBT              | CORP              | DE        |    200000 | PA      | $265048.10    | 0.36%             | N/A             | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC                           | Global Payments Inc                                                             | CUSIP: 37940XAS1<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |    155000 | PA      | $191138.22    | 0.26%             | 2031-03-17      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT             | EURO-BUXL 30Y BND                                                               | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |         1 | NC      | $3063.11      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ENFRAGEN ENERGIA SUR SA                       | EnfraGen Energia Sur SA / EnfraGen Spain SA / Prime Energia SpA                 | CUSIP: 29280LAA1<br>LEI: 2549002TO75PYMY3VY07 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $185876.11    | 0.25%             | 2030-12-30      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| SNAM SPA                                      | Snam SpA                                                                        | CUSIP: 83304JAC1<br>LEI: 8156002278562044AF79 | Long             | DBT              | CORP              | IT        |    200000 | PA      | $213783.66    | 0.29%             | 2055-05-28      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust                | Pagaya AI Debt Grantor Trust 2024-8                                             | CUSIP: 69544QAD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    348905 | PA      | $352033.13    | 0.48%             | 2032-01-15      | Fixed         | 6.53%                 | No            |                  2 | On Loan: No      |
| GCAT                                          | GCAT 2023-NQM2 Trust                                                            | CUSIP: 36169DAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    518592 | PA      | $518285.96    | 0.71%             | 2067-11-25      | Variable      | 6.60%                 | No            |                  2 | On Loan: No      |
| SITIOS LATINOAMERICA                          | Sitios Latinoamerica SAB de CV                                                  | CUSIP: 82983PAA1<br>LEI: 984500D2C0CDC0BFDD35 | Long             | DBT              | CORP              | MX        |    285000 | PA      | $296946.89    | 0.41%             | 2029-11-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FORTITUDE GROUP HOLDINGS                      | Fortitude Group Holdings LLC                                                    | CUSIP: 34966XAA6<br>LEI: 2549006R9ZUL08JFIH12 | Long             | DBT              | CORP              | US        |    230000 | PA      | $238807.27    | 0.33%             | 2030-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust                | Pagaya AI Debt Grantor Trust 2024-6 And Pagaya AI Debt Trust 2024-6             | CUSIP: 69548KAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    216541 | PA      | $218561.45    | 0.30%             | 2031-11-15      | Fixed         | 6.59%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                | USD/JPY FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-274.93      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD                      | Avolon Holdings Funding Ltd                                                     | CUSIP: 05401AAJ0<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |    163000 | PA      | $160331.06    | 0.22%             | 2027-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL                              | Paramount Global                                                                | CUSIP: 92553PBC5<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |    199000 | PA      | $195985.77    | 0.27%             | 2057-02-28      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Hilcorp Energy I LP                           | HILCORP ENERGY I LP                                                             | CUSIP: 431319AH5<br>LEI: 549300ITPIHLG0LHEC09 | Long             | LON              | CORP              | US        |    412925 | PA      | $412925.00    | 0.56%             | 2030-02-11      | Floating      | 6.15%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                | JPY/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $70013.57     | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                | NOK/EUR FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $12989.06     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| GLOBAL ATLANTIC FIN CO                        | Global Atlantic Fin Co                                                          | CUSIP: 37959GAF4<br>LEI: 98450051B2E65CAA7E94 | Long             | DBT              | CORP              | US        |    209000 | PA      | $220418.47    | 0.30%             | 2054-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                      | IRS GBP                                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DIR              | CORP              | US        |         1 | NC      | $-13481.91    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                      | IRS USD                                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DIR              | CORP              | US        |         1 | NC      | $-764.00      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| EDISON INTERNATIONAL                          | Edison International                                                            | CUSIP: 281020AS6<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |    671000 | PA      | $652499.47    | 0.89%             | N/A             | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                     | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F0206A2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4150000 | PA      | $3344895.85   | 4.57%             | 2055-10-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                         | Venture Global Plaquemines LNG LLC                                              | CUSIP: 922966AC0<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    230000 | PA      | $242471.43    | 0.33%             | 2034-01-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                | EUR/GBP FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $12318.01     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| DENTSPLY SIRONA INC                           | DENTSPLY SIRONA Inc                                                             | CUSIP: 24906PAB5<br>LEI: 9NHEHR1SOZCYXDO8HO28 | Long             | DBT              | CORP              | US        |    284000 | PA      | $292972.03    | 0.40%             | 2055-09-12      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| HCA INC                                       | HCA Inc                                                                         | CUSIP: 404119DC0<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    212000 | PA      | $218883.15    | 0.30%             | 2055-03-01      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| JAPAN (30 YEAR ISSUE)                         | Japan Government Thirty Year Bond                                               | CUSIP: 000000000<br>LEI: 353800WZS8AXZXFUC241 | Long             | DBT              | NUSS              | JP        |  10000000 | PA      | $51359.49     | 0.07%             | 2054-03-20      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                    | Verus Securitization Trust 2024-3                                               | CUSIP: 92540MAC9<br>LEI: 2138005NRONUFED1TZ38 | Long             | ABS-MBS          | CORP              | US        |    340185 | PA      | $344781.37    | 0.47%             | 2069-04-25      | Variable      | 6.84%                 | No            |                  2 | On Loan: No      |
| CI FINANCIAL CORP                             | CI Financial Corp                                                               | CUSIP: 125491AT7<br>LEI: 549300M9W7JJQSVCEM78 | Long             | DBT              | CORP              | CA        |    330000 | PA      | $351303.47    | 0.48%             | 2029-05-30      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| SWCH Commercial Mortgage Trust                | SWCH Commercial Mortgage Trust 2025-DATA                                        | CUSIP: 78489CAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    590000 | PA      | $587548.35    | 0.80%             | 2042-02-15      | Floating      | 6.24%                 | No            |                  2 | On Loan: No      |
| PHOENIX GRP HLD PLC                           | Phoenix Group Holdings PLC                                                      | CUSIP: 000000000<br>LEI: 2138001P49OLAEU33T68 | Long             | DBT              | CORP              | GB        |    201000 | PA      | $215653.35    | 0.29%             | N/A             | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| GLP CAPITAL LP / FIN II                       | GLP Capital LP / GLP Financing II Inc                                           | CUSIP: 361841AT6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    221000 | PA      | $223579.55    | 0.31%             | 2034-09-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Upstart Securitization Trust                  | Upstart Securitization Trust                                                    | CUSIP: 91684NAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    297668 | PA      | $298543.00    | 0.41%             | 2034-11-20      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                     | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F0606A8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1200000 | PA      | $1225980.00   | 1.67%             | 2055-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                    | Verus Securitization Trust 2024-8                                               | CUSIP: 92540PAB4<br>LEI: 213800RZ8QGNZ38DSP77 | Long             | ABS-MBS          | CORP              | US        |    424442 | PA      | $426725.82    | 0.58%             | 2069-10-25      | Variable      | 5.62%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                        | General Motors Financial Co Inc                                                 | CUSIP: 37045XFK7<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    259000 | PA      | $270880.87    | 0.37%             | 2035-07-15      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| LPL HOLDINGS INC                              | LPL Holdings Inc                                                                | CUSIP: 50212YAQ7<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |    337000 | PA      | $345762.32    | 0.47%             | 2035-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NEXA RESOURCES SA                             | Nexa Resources SA                                                               | CUSIP: 65290DAC7<br>LEI: 549300QRMRHM7GAU7L47 | Long             | DBT              | CORP              | LU        |    201000 | PA      | $206649.97    | 0.28%             | 2037-04-08      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR ACCEPTANCE                       | Nissan Motor Acceptance Co LLC                                                  | CUSIP: 65480CAJ4<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |    190000 | PA      | $189612.91    | 0.26%             | 2027-09-13      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| HOMES Trust                                   | HOMES 2025-NQM4 Trust                                                           | CUSIP: 403958AA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    696449 | PA      | $698220.60    | 0.95%             | 2070-08-25      | Variable      | 5.22%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                    | Fannie Mae Pool                                                                 | CUSIP: 3140QQQX6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     77459 | PA      | $79341.21     | 0.11%             | 2052-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LIBERTY UTILITIES CO                          | Liberty Utilities Co                                                            | CUSIP: 531542AB4<br>LEI: 549300UN1FEYPC5BKW09 | Long             | DBT              | CORP              | US        |    196000 | PA      | $203115.31    | 0.28%             | 2034-01-31      | Fixed         | 5.87%                 | No            |                  2 | On Loan: No      |
| BGC GROUP INC                                 | BGC Group Inc                                                                   | CUSIP: 088929AC8<br>LEI: 2549001IGRCG4F0RLD36 | Long             | DBT              | CORP              | US        |    274000 | PA      | $292644.43    | 0.40%             | 2028-05-25      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                   | Freddie Mac Pool                                                                | CUSIP: 3133KPSF6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    389926 | PA      | $380122.24    | 0.52%             | 2052-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                | GBP/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-8663.55     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| BROOKFIELD INFRA FIN ULC                      | Brookfield Infrastructure Finance ULC                                           | CUSIP: 11276BAA7<br>LEI: 984500CDDWC47U7DBA74 | Long             | DBT              | CORP              | CA        |    314000 | PA      | $321357.46    | 0.44%             | 2055-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| APA CORP                                      | APA Corp                                                                        | CUSIP: 03743QAT5<br>LEI: 549300VCIWLRHYVSHC79 | Long             | DBT              | CORP              | US        |    262000 | PA      | $264221.18    | 0.36%             | 2055-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SUZANO NETHERLANDS BV                         | Suzano Netherlands BV                                                           | CUSIP: 86960YAA0<br>LEI: 9845009ZB9F5D6DB3602 | Long             | DBT              | CORP              | NL        |    240000 | PA      | $240306.83    | 0.33%             | 2036-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CFE FIBRA E                                   | CFE Fibra E                                                                     | CUSIP: 125276AA3<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |    200000 | PA      | $201635.87    | 0.28%             | 2040-09-23      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CAPITAL POWER US HOLDING                      | Capital Power US Holdings Inc                                                   | CUSIP: 14041TAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    330000 | PA      | $345763.53    | 0.47%             | 2035-06-01      | Fixed         | 6.19%                 | No            |                  2 | On Loan: No      |
| ACHV ABS TRUST                                | ACHV ABS Trust 2024-3AL                                                         | CUSIP: 00092KAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    147935 | PA      | $149007.14    | 0.20%             | 2031-12-26      | Fixed         | 5.68%                 | No            |                  2 | On Loan: No      |
| PG&E CORP                                     | PG&E Corp                                                                       | CUSIP: 69331CAM0<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |    387000 | PA      | $398381.58    | 0.54%             | 2055-03-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| CITIZENS FINANCIAL GROUP                      | Citizens Financial Group Inc                                                    | CUSIP: 174610BH7<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |    450000 | PA      | $470069.21    | 0.64%             | 2032-07-23      | Fixed         | 5.72%                 | No            |                  2 | On Loan: No      |
| CITADEL LP                                    | Citadel LP                                                                      | CUSIP: 17288XAD6<br>LEI: 549300IPM6EKPVUPFL67 | Long             | DBT              | CORP              | US        |    170000 | PA      | $176700.02    | 0.24%             | 2030-01-23      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT             | EURO-BUND                                                                       | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |        16 | NC      | $12191.52     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| FOUNDRY JV HOLDCO LLC                         | Foundry JV Holdco LLC                                                           | CUSIP: 350930AK9<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |    434000 | PA      | $467138.46    | 0.64%             | 2039-01-25      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                      | OBX 2025-NQM11 Trust                                                            | CUSIP: 67449BAA1<br>LEI: 254900KNWDG7C03UTA13 | Long             | ABS-MBS          | CORP              | US        |    330190 | PA      | $332936.17    | 0.45%             | 2065-05-25      | Variable      | 5.42%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust                | Pagaya AI Debt Grantor Trust 2024-8                                             | CUSIP: 69544QAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    311678 | PA      | $313407.71    | 0.43%             | 2032-01-15      | Fixed         | 5.46%                 | No            |                  2 | On Loan: No      |
| FLEX INTERMEDIATE HOLDCO                      | Flex Intermediate Holdco LLC                                                    | CUSIP: 33939HAB5<br>LEI: 549300290TQIGM30A243 | Long             | DBT              | CORP              | US        |    176000 | PA      | $146490.58    | 0.20%             | 2039-12-30      | Fixed         | 4.32%                 | No            |                  2 | On Loan: No      |
| AUSTRALIAN GOVERNMENT                         | Australia Government Bond                                                       | CUSIP: 000000000<br>LEI: 213800J6B7JSBDETCB42 | Long             | DBT              | NUSS              | AU        |    578000 | PA      | $368536.83    | 0.50%             | 2054-06-21      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                | USD/AUD FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-3248.02     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                       | Royal Caribbean Cruises Ltd                                                     | CUSIP: 780153BG6<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    206000 | PA      | $209991.70    | 0.29%             | 2028-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                    | Fannie Mae Pool                                                                 | CUSIP: 3140QS5W7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    465347 | PA      | $481122.34    | 0.66%             | 2053-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                    | Fannie Mae Pool                                                                 | CUSIP: 3140QVYS7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    990661 | PA      | $1004327.32   | 1.37%             | 2054-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PATTERSON-UTI ENERGY INC                      | Patterson-UTI Energy Inc                                                        | CUSIP: 703481AB7<br>LEI: 254900XGFBKIXD6G0697 | Long             | DBT              | CORP              | US        |    170000 | PA      | $166030.65    | 0.23%             | 2028-02-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Atkore International Inc                      | ATKORE INTERNATIONAL INC                                                        | CUSIP: 000000000<br>LEI: 549300G7TKUUPGRV2D81 | Long             | LON              | CORP              | US        |    365260 | PA      | $363433.86    | 0.50%             | 2040-01-02      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| ASPEN INSURANCE HLDG LTD                      | Aspen Insurance Holdings Ltd                                                    | CUSIP: 04530DAE2<br>LEI: 549300YX6HECG9XQCQ75 | Long             | DBT              | CORP              | BM        |    319000 | PA      | $333690.07    | 0.46%             | 2030-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NORTHWEST NATURAL HOLDI                       | Northwest Natural Holding Co                                                    | CUSIP: 66765NAA3<br>LEI: 254900PSJL6ZEC8FR782 | Long             | DBT              | CORP              | US        |    260000 | PA      | $266591.60    | 0.36%             | 2055-09-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                      | IRS USD                                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DIR              | CORP              | US        |         1 | NC      | $-211.70      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                | GBP/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $27960.70     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| GLP CAPITAL LP / FIN II                       | GLP Capital LP / GLP Financing II Inc                                           | CUSIP: 361841AW9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    301000 | PA      | $299057.73    | 0.41%             | 2037-11-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                | USD/EUR FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $4525.98      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| KILROY REALTY LP                              | Kilroy Realty LP                                                                | CUSIP: 49427RAT9<br>LEI: 5493008CT3N3JR7P1552 | Long             | DBT              | CORP              | US        |    226000 | PA      | $228757.75    | 0.31%             | 2035-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                     | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F0406A0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    675000 | PA      | $636147.68    | 0.87%             | 2055-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BPCE SA                                       | BPCE SA                                                                         | CUSIP: 05571ABA2<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |    250000 | PA      | $267658.39    | 0.37%             | 2036-01-14      | Fixed         | 6.29%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                      | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175BM5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    346000 | PA      | $325790.62    | 0.44%             | 2038-04-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG                              | Deutsche Bank AG                                                                | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    200000 | PA      | $247115.84    | 0.34%             | N/A             | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                         | Venture Global Plaquemines LNG LLC                                              | CUSIP: 922966AD8<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    230000 | PA      | $244534.42    | 0.33%             | 2036-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| MMP Capital                                   | MMP Capital 2025-A LLC                                                          | CUSIP: 55317QAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    275435 | PA      | $277176.44    | 0.38%             | 2031-12-15      | Fixed         | 5.36%                 | No            |                  2 | On Loan: No      |
| UTAH ACQUISITION SUB                          | Utah Acquisition Sub Inc                                                        | CUSIP: 62854AAP9<br>LEI: 254900JOFV74IJ7H9933 | Long             | DBT              | CORP              | US        |    160000 | PA      | $133089.53    | 0.18%             | 2046-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| F&G ANNUITIES & LIFE INC                      | F&G Annuities & Life Inc                                                        | CUSIP: 30190AAG9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    304000 | PA      | $310231.02    | 0.42%             | 2034-10-04      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| JAPAN (30 YEAR ISSUE)                         | Japan Government Thirty Year Bond                                               | CUSIP: 000000000<br>LEI: 353800WZS8AXZXFUC241 | Long             | DBT              | NUSS              | JP        |  41500000 | PA      | $265833.86    | 0.36%             | 2055-06-20      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG                              | Deutsche Bank AG                                                                | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    200000 | PA      | $211980.84    | 0.29%             | N/A             | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.   | US 5YR NOTE (CBT)                                                               | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        59 | NC      | $-30365.37    | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Cross Mortgage Trust                          | Cross 2023-H2 Mortgage Trust                                                    | CUSIP: 22757NAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    316125 | PA      | $321305.68    | 0.44%             | 2068-11-25      | Variable      | 7.13%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                            | Ally Financial Inc                                                              | CUSIP: 02005NBM1<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    240000 | PA      | $233614.94    | 0.32%             | N/A             | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                    | Verus Securitization Trust 2023-4                                               | CUSIP: 92539TAA1<br>LEI: 2138008DC17PCNG48R87 | Long             | ABS-MBS          | CORP              | US        |    244125 | PA      | $244815.86    | 0.33%             | 2068-05-25      | Variable      | 5.81%                 | No            |                  2 | On Loan: No      |
| AGNC INVESTMENT CORP                          | AGNC Investment Corp                                                            | CUSIP: 00123Q831<br>LEI: 5TRACI5HRMELWV32OF39 | Long             | EP               | CORP              | US        |     17150 | NS      | $436467.50    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                      | CDS CDX.NA.IG.45.V1                                                             | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DCR              | CORP              | US        |         1 | NC      | $-105401.45   | -0.14%            |  |  |  | No            |                  2 | On Loan: No      |
| Uniti Fiber ABS Issuer LLC                    | Uniti Fiber Abs Issuer Llc                                                      | CUSIP: 91326EAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    530000 | PA      | $545364.33    | 0.74%             | 2055-04-20      | Fixed         | 6.37%                 | No            |                  2 | On Loan: No      |
| FIRST AMERICAN FINANCIAL                      | First American Financial Corp                                                   | CUSIP: 31847RAJ1<br>LEI: 549300B6VEZK3N0A1P55 | Long             | DBT              | CORP              | US        |    170000 | PA      | $170465.40    | 0.23%             | 2034-09-30      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                      | OBX 2023-NQM6 Trust                                                             | CUSIP: 67117VAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    257060 | PA      | $259135.98    | 0.35%             | 2063-07-25      | Variable      | 6.97%                 | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT             | EURO-BOBL                                                                       | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |        -3 | NC      | $66.96        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| KALLPA GENERACION SA                          | Kallpa Generacion SA                                                            | CUSIP: 48344FAC4<br>LEI: 549300NG1PWEI5BZG095 | Long             | DBT              | CORP              | PE        |    200000 | PA      | $201362.32    | 0.27%             | 2035-09-11      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Flutter Entertainment Public Limited Company  | FLUTTER FINANCING BV                                                            | CUSIP: 000000000<br>LEI: 635400VFWPBIKJK6GN11 | Long             | LON              | CORP              | NL        |    888972 | PA      | $887247.39    | 1.21%             | 2032-06-04      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                  | UBS Group AG                                                                    | CUSIP: 902613BS6<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    673000 | PA      | $686163.81    | 0.94%             | N/A             | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                | EUR/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-146.56      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| W P CAREY INC                                 | WP Carey Inc                                                                    | CUSIP: 000000000<br>LEI: 54930042CRNE713E3Q67 | Long             | DBT              | CORP              | US        |    192000 | PA      | $221716.33    | 0.30%             | 2034-11-19      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                      | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175CT9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     78000 | PA      | $78777.60     | 0.11%             | 2055-12-01      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                    | MFA 2020-NQM3 Trust                                                             | CUSIP: 552757AC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    136259 | PA      | $129384.23    | 0.18%             | 2065-01-26      | Variable      | 1.63%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust                | Pagaya AI Debt Grantor Trust 2024-11                                            | CUSIP: 69544AAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    370266 | PA      | $373407.40    | 0.51%             | 2032-07-15      | Fixed         | 5.64%                 | No            |                  2 | On Loan: No      |
| AIRCASTLE LTD                                 | Aircastle Ltd                                                                   | CUSIP: 00928QAU5<br>LEI: 549300PNK8AKY3OIKP58 | Long             | DBT              | CORP              | BM        |    173000 | PA      | $166804.07    | 0.23%             | 2028-01-26      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| FMC CORP                                      | FMC Corp                                                                        | CUSIP: 302491AZ8<br>LEI: CKDHZ2X64EEBQCSP7013 | Long             | DBT              | CORP              | US        |    320000 | PA      | $338027.02    | 0.46%             | 2055-11-01      | Fixed         | 8.45%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON BANCSHARES                         | Huntington Bancshares Inc/OH                                                    | CUSIP: 446150BF0<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |    176000 | PA      | $183122.51    | 0.25%             | 2039-11-18      | Fixed         | 6.14%                 | No            |                  2 | On Loan: No      |
| F&G ANNUITIES & LIFE INC                      | F&G Annuities & Life Inc                                                        | CUSIP: 30190AAC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    209000 | PA      | $219508.58    | 0.30%             | 2028-01-13      | Fixed         | 7.40%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE                              | Societe Generale SA                                                             | CUSIP: 83370RAE8<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    210000 | PA      | $220162.32    | 0.30%             | N/A             | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                      | CDS CDX.NA.IG.45.V1                                                             | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DCR              | CORP              | US        |         1 | NC      | $-158113.68   | -0.22%            |  |  |  | No            |                  2 | On Loan: No      |
| BGC GROUP INC                                 | BGC Group Inc                                                                   | CUSIP: 05555LAB7<br>LEI: 2549001IGRCG4F0RLD36 | Long             | DBT              | CORP              | US        |    260000 | PA      | $270750.85    | 0.37%             | 2029-06-10      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| FIRST CITIZENS BANCSHARE                      | FIRST CITIZENS BANCSHARE                                                        | CUSIP: 319626AA5<br>LEI: 549300N3Z00ZHE2XC526 | Long             | DBT              | CORP              | US        |    510000 | PA      | $509042.06    | 0.70%             | 2035-09-05      | Variable      | 5.60%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                      | Warnermedia Holdings Inc                                                        | CUSIP: 55903VBW2<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    431000 | PA      | $343855.62    | 0.47%             | 2042-03-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                    | Fannie Mae Pool                                                                 | CUSIP: 3140Y7BR8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    629330 | PA      | $659431.47    | 0.90%             | 2055-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                      | IRS USD                                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DIR              | CORP              | US        |         1 | NC      | $22474.28     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                      | IRS USD                                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DIR              | CORP              | US        |         1 | NC      | $19584.95     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                | USD/EUR FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $2862.58      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CODELCO INC                                   | Corp Nacional del Cobre de Chile                                                | CUSIP: 21987BBK3<br>LEI: 549300UVMBCBCIPSUI70 | Long             | DBT              | CORP              | CL        |    210000 | PA      | $226429.14    | 0.31%             | 2036-01-26      | Fixed         | 6.44%                 | No            |                  2 | On Loan: No      |
| APA CORP                                      | APA Corp                                                                        | CUSIP: 03743QAR9<br>LEI: 549300VCIWLRHYVSHC79 | Long             | DBT              | CORP              | US        |    184000 | PA      | $188201.65    | 0.26%             | 2035-02-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| REALTY INCOME CORP                            | Realty Income Corp                                                              | CUSIP: 756109CV4<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              | CORP              | US        |    154000 | PA      | $181428.71    | 0.25%             | 2035-06-20      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                | USD/EUR FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $4463.40      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                    | Verus Securitization Trust 2023-1                                               | CUSIP: 92539BAD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    660000 | PA      | $659705.14    | 0.90%             | 2067-12-25      | Variable      | 6.86%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                      | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175BN3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    190000 | PA      | $171904.95    | 0.23%             | 2048-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| As Mileage Plan Ip Ltd.                       | AS MILEAGE PLAN IP LTD                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | KY        |    496250 | PA      | $496870.31    | 0.68%             | 2031-10-15      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| MACQUARIE BANK LTD                            | Macquarie Bank Ltd                                                              | CUSIP: 556079AG6<br>LEI: 4ZHCHI4KYZG2WVRT8631 | Long             | DBT              | CORP              | AU        |    265000 | PA      | $268690.69    | 0.37%             | 2036-08-13      | Fixed         | 5.64%                 | No            |                  2 | On Loan: No      |
| AUSTRALIAN GOVERNMENT                         | Australia Government Bond                                                       | CUSIP: 000000000<br>LEI: 213800J6B7JSBDETCB42 | Long             | DBT              | NUSS              | AU        |   1413000 | PA      | $496209.04    | 0.68%             | 2051-06-21      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| FIRST CITIZENS BANCSHARE                      | First Citizens BancShares Inc/NC                                                | CUSIP: 31959XAF0<br>LEI: 549300N3Z00ZHE2XC526 | Long             | DBT              | CORP              | US        |    380000 | PA      | $385191.25    | 0.53%             | 2040-03-12      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| APTIV SWISS HOLDINGS LTD                      | Aptiv Swiss Holdings Ltd                                                        | CUSIP: 00217GAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | JE        |    578000 | PA      | $437097.47    | 0.60%             | 2052-05-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| LIBERTY MUTUAL GROUP INC                      | Liberty Mutual Group Inc                                                        | CUSIP: 53079EBQ6<br>LEI: QUR0DG15Z6FFGYCHH861 | Long             | DBT              | CORP              | US        |    380000 | PA      | $443011.46    | 0.60%             | 2035-09-26      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                      | Ford Motor Credit Co LLC                                                        | CUSIP: 345397G80<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    310000 | PA      | $310178.48    | 0.42%             | 2028-03-20      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| CNO FINANCIAL GROUP INC                       | CNO Financial Group Inc                                                         | CUSIP: 12621EAM5<br>LEI: 11XPYHB76MPM4Y4P2897 | Long             | DBT              | CORP              | US        |    160000 | PA      | $169885.46    | 0.23%             | 2034-06-15      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER                      | Enterprise Products Operating LLC                                               | CUSIP: 29379VBM4<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |    198000 | PA      | $198457.35    | 0.27%             | 2077-08-16      | Floating      | 7.43%                 | No            |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATION                      | Hess Midstream Operations LP                                                    | CUSIP: 428102AG2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    614000 | PA      | $633452.66    | 0.87%             | 2029-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                    | Fannie Mae Pool                                                                 | CUSIP: 3140QQ5E1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    337025 | PA      | $353339.79    | 0.48%             | 2052-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                            | Ally Financial Inc                                                              | CUSIP: 02005NBN9<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    350000 | PA      | $322299.55    | 0.44%             | N/A             | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                   | Oracle Corp                                                                     | CUSIP: 68389XDR3<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     80000 | PA      | $79755.76     | 0.11%             | 2055-09-26      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| INTESA SANPAOLO SPA                           | Intesa Sanpaolo SpA                                                             | CUSIP: 000000000<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |    200000 | PA      | $255062.36    | 0.35%             | N/A             | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                      | IRS USD                                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DIR              | CORP              | US        |         1 | NC      | $-912.71      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL                              | Paramount Global                                                                | CUSIP: 92556HAE7<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |    209000 | PA      | $208346.07    | 0.28%             | 2062-03-30      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                      | IRS USD                                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DIR              | CORP              | US        |         1 | NC      | $-1485.48     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ATLAS WAREHOUSE LEND                          | Atlas Warehouse Lending Co LP                                                   | CUSIP: 049463AD4<br>LEI: 25490068J12A1HV7YM70 | Long             | DBT              | CORP              | US        |    470000 | PA      | $480855.59    | 0.66%             | 2028-01-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| RAIZEN FUELS FINANCE                          | Raizen Fuels Finance SA                                                         | CUSIP: 75102XAE6<br>LEI: 52990010NH26VC32Q522 | Long             | DBT              | CORP              | LU        |    290000 | PA      | $280078.16    | 0.38%             | 2037-02-25      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                    | Verus Securitization Trust 2023-5                                               | CUSIP: 924934AB8<br>LEI: 984500BADC7CFE3B0756 | Long             | ABS-MBS          | CORP              | US        |    245018 | PA      | $246729.07    | 0.34%             | 2068-06-25      | Variable      | 6.76%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                | JPY/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $1478.49      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                   | Freddie Mac Pool                                                                | CUSIP: 3133BRSW5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    136648 | PA      | $142606.22    | 0.19%             | 2052-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                | AUD/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-635.52      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Solstice Advanced Materials Inc               | SOLSTICE ADVANCED MATERIALS INC                                                 | CUSIP: 000000000<br>LEI: 2138004GZ4H9TW6HK435 | Long             | LON              | CORP              | US        |    568800 | PA      | $569158.34    | 0.78%             | 2032-09-16      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| AVOLON TLB BORROWER 1 US                      | AVOLON TLB BORROWER 1 US                                                        | CUSIP: 05400KAJ9<br>LEI: 635400O84AGITYFZQB55 | Long             | LON              | CORP              | US        |    586055 | PA      | $586154.63    | 0.80%             | 2030-06-24      | Floating      | 5.88%                 | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT             | EURO-OAT                                                                        | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |       -30 | NC      | $-39306.82    | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| SOUTH BOW USA INFRA HLDS                      | South Bow USA Infrastructure Holdings LLC                                       | CUSIP: 83007CAF9<br>LEI: 254900Z1WAY7QFQ7O850 | Long             | DBT              | CORP              | US        |    170000 | PA      | $170921.06    | 0.23%             | 2034-10-01      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| FOUNDRY JV HOLDCO LLC                         | Foundry JV Holdco LLC                                                           | CUSIP: 350930AA1<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |    200000 | PA      | $208456.90    | 0.28%             | 2034-01-25      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| SYMETRA LIFE INSURANCE                        | Symetra Life Insurance Co                                                       | CUSIP: 87151KAA7<br>LEI: 2CKADF5K7JYB5EG0VY36 | Long             | DBT              | CORP              | US        |    667000 | PA      | $706461.80    | 0.96%             | 2055-10-01      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| WHISTLER PIPELINE LLC                         | Whistler Pipeline LLC                                                           | CUSIP: 96337RAC6<br>LEI: 549300NG57SGLTNW5C85 | Long             | DBT              | CORP              | US        |    159000 | PA      | $163788.10    | 0.22%             | 2034-09-30      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| MVW Owner Trust                               | MVW 2021-2 LLC                                                                  | CUSIP: 55400KAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     96948 | PA      | $91912.02     | 0.13%             | 2039-05-20      | Fixed         | 1.83%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating LLC          | CHARTER COMMUNICATIONS OPER                                                     | CUSIP: 16117LCB3<br>LEI: 549300TPZNMN50BJ3745 | Long             | LON              | CORP              | US        |    432300 | PA      | $431668.84    | 0.59%             | 2030-12-07      | Floating      | 6.29%                 | No            |                  2 | On Loan: No      |
| HAWAIIAN ELEC CO                              | Hawaiian Electric Co Inc                                                        | CUSIP: 419866AV0<br>LEI: 549300PQE8D806LWQV52 | Long             | DBT              | CORP              | US        |    223000 | PA      | $224756.21    | 0.31%             | 2033-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| INTESA SANPAOLO SPA                           | Intesa Sanpaolo SpA                                                             | CUSIP: 46115HAW7<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |    384000 | PA      | $384780.50    | 0.53%             | 2026-01-15      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                          | Cross 2024-H2 Mortgage Trust                                                    | CUSIP: 22757BAB0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    385302 | PA      | $389361.22    | 0.53%             | 2069-04-25      | Variable      | 6.42%                 | No            |                  2 | On Loan: No      |
| ZIONS BANCORP NA                              | Zions Bancorp NA                                                                | CUSIP: 98971DAC4<br>LEI: 8WH0EE09O9V05QJZ3V89 | Long             | DBT              | CORP              | US        |    250000 | PA      | $266383.72    | 0.36%             | 2035-11-19      | Fixed         | 6.82%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                      | IRS USD                                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DIR              | CORP              | US        |         1 | NC      | $18464.27     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| RBC BlueBay U.S. Government Money Market Fund | RBC BlueBay U.S. Government Money Market Fund                                   | CUSIP: 74926P696<br>LEI: 549300RFDC5U7WLJKO50 | Long             | STIV             | RF                | US        |   4532866 | NS      | $4532866.48   | 6.19%             |  |  |  | No            |                  1 | On Loan: No      |
| FIFTH THIRD BANCORP                           | Fifth Third Bancorp                                                             | CUSIP: 316773CM0<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |    223000 | PA      | $223024.45    | 0.30%             | N/A             | Floating      | 7.59%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                      | Occidental Petroleum Corp                                                       | CUSIP: 674599DF9<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    165000 | PA      | $175047.64    | 0.24%             | 2036-09-15      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| Terex Corporation                             | TEREX CORP                                                                      | CUSIP: 88078FBQ0<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | LON              | CORP              | US        |    497503 | PA      | $498000.62    | 0.68%             | 2031-10-08      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| EXPAND ENERGY CORP                            | Expand Energy Corp                                                              | CUSIP: 165167DG9<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |    217000 | PA      | $217875.13    | 0.30%             | 2029-02-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                      | JP Morgan Mortgage Trust 2025-VIS1                                              | CUSIP: 46659BAC6<br>LEI: 529900CBDGTUOOQONB64 | Long             | ABS-MBS          | CORP              | US        |    403838 | PA      | $407808.32    | 0.56%             | 2055-08-25      | Variable      | 5.49%                 | No            |                  2 | On Loan: No      |
| AMAZON CONSERVATION DAC                       | Amazon Conservation DAC                                                         | CUSIP: 02315JAA2<br>LEI: 635400VMJ6EGNYN3YK31 | Long             | DBT              | NUSS              | IE        |    270000 | PA      | $279358.52    | 0.38%             | 2042-01-16      | Fixed         | 6.03%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                      | OBX 2025-NQM3 Trust                                                             | CUSIP: 67448YAC8<br>LEI: 254900MBGY6CR10DAX67 | Long             | ABS-MBS          | CORP              | US        |    364013 | PA      | $367363.39    | 0.50%             | 2064-12-01      | Variable      | 5.65%                 | No            |                  2 | On Loan: No      |
| Zayo Issuer LLC                               | Zayo Issuer LLC                                                                 | CUSIP: 98919WAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | PA      | $306016.23    | 0.42%             | 2055-03-20      | Fixed         | 6.09%                 | No            |                  2 | On Loan: No      |
| BELROSE FUNDING TRUST II                      | Belrose Funding Trust II                                                        | CUSIP: 08079KAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    334000 | PA      | $361799.50    | 0.49%             | 2055-05-15      | Fixed         | 6.79%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                      | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175BY9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    223000 | PA      | $138821.49    | 0.19%             | 2061-04-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| ING GROEP NV                                  | ING Groep NV                                                                    | CUSIP: 456837BT9<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |    353000 | PA      | $363771.87    | 0.50%             | N/A             | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| JH NORTH AMERICA HOLDING                      | JH North America Holdings Inc                                                   | CUSIP: 46593WAB1<br>LEI: 254900A6FXA0D81TL967 | Long             | DBT              | CORP              | US        |    317000 | PA      | $324811.76    | 0.44%             | 2032-07-31      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                    | Fannie Mae Pool                                                                 | CUSIP: 3140QQJL0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    186260 | PA      | $186843.39    | 0.26%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JAPAN (40 YEAR ISSUE)                         | Japan Government Forty Year Bond                                                | CUSIP: 000000000<br>LEI: 353800WZS8AXZXFUC241 | Long             | DBT              | NUSS              | JP        | 301050000 | PA      | $936477.57    | 1.28%             | 2060-03-20      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| Citadel Securities LP                         | CITADEL SECURITIES LP                                                           | CUSIP: 17288YAN2<br>LEI: 549300NV5RXBUS3X7L47 | Long             | LON              | CORP              | US        |    433814 | PA      | $434520.67    | 0.59%             | 2031-10-31      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| AVERY DENNISON CORP                           | Avery Dennison Corp                                                             | CUSIP: 000000000<br>LEI: 549300PW7VPFCYKLIV37 | Long             | DBT              | CORP              | US        |    200000 | PA      | $235153.40    | 0.32%             | 2035-09-11      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                        | Pacific Gas and Electric Co                                                     | CUSIP: 694308KH9<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    439000 | PA      | $472943.16    | 0.65%             | 2053-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-24

**Name of Applicant:** RBC Funds Trust

**Signature:** Kathy Hegna

**Name of Signer:** Kathy Hegna

**Title:** Treasurer and Chief Financial Officer - RBC Funds, and Director of Mutual Fund Services | RBC Global Asset Management (U.S.) Inc.