# EDGAR Filing Document

**Accession Number:** 0001272950
**File Stem:** 0001752724-25-202219
**Filing Date:** 2025-8
**Character Count:** 102842
**Document Hash:** 36376b64a7ea19e50e523ad1fc2947f2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-202219.hdr.sgml**: 20250825

**ACCESSION NUMBER**: 0001752724-25-202219

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250825

**DATE AS OF CHANGE**: 20250825

**PERIOD START**: 20260331

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21475
- **FILM NUMBER:** 251250309

**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 Short Duration Fixed Income Fund (Series ID: S000043718)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000135576 | Class I      | RSDIX           |
| C000138515 | Class A      | RSHFX           |

## Nport-Ex

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Short Duration Fixed Income Fund

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| **Corporate Bonds — 47.7%** | **Corporate Bonds — 47.7%** |  |
| **Basic Materials — 1.2%** | **Basic Materials — 1.2%** |  |
| &nbsp;&nbsp;&nbsp;$165000 | Georgia-Pacific LLC, 4.40%, 6/30/28(a) | &nbsp;&nbsp;&nbsp;$165849 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42000 | International Flavors & Fragrances, Inc., 1.23%, 10/1/25(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41597 |
| &nbsp;&nbsp;&nbsp;&nbsp;100000 | Nutrien Ltd., 5.95%, 11/7/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100412 |
| &nbsp;&nbsp;&nbsp;&nbsp;535000 | Syensqo Finance America LLC, 5.65%, 6/4/29(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;554503 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;862361 |
| **Communications — 0.8%** | **Communications — 0.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;540000 | Charter Communications Operating LLC / Charter Communications Operating Capital, 6.10%, 6/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565411 |
| **Consumer, Cyclical — 5.4%** | **Consumer, Cyclical — 5.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;600000 | American Honda Finance Corp., (SOFR RATE + 0.720%), GMTN, 5.07%, 10/22/27(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;599487 |
| &nbsp;&nbsp;&nbsp;&nbsp;515000 | Aptiv Swiss Holdings Ltd., 4.65%, 9/13/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;513757 |
| &nbsp;&nbsp;&nbsp;&nbsp;500000 | Daimler Truck Finance North America LLC, 5.15%, 1/16/26(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501289 |
| &nbsp;&nbsp;&nbsp;&nbsp;265000 | General Motors Financial Co., Inc., (SOFR RATE + 1.040%), 5.42%, 2/26/27(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264325 |
| &nbsp;&nbsp;&nbsp;&nbsp;545000 | Hyundai Capital America, 4.88%, 6/23/27(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;548092 |
| &nbsp;&nbsp;&nbsp;&nbsp;400000 | Hyundai Capital America, 5.30%, 3/19/27(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;404487 |
| &nbsp;&nbsp;&nbsp;&nbsp;605000 | Volkswagen Group of America Finance LLC, 4.90%, 8/14/26(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;606150 |
| &nbsp;&nbsp;&nbsp;&nbsp;500000 | Volkswagen Group of America Finance LLC, 6.00%, 11/16/26(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;508032 |
|  |  | &nbsp;&nbsp;&nbsp;3945619 |
| **Consumer, Non-cyclical — 4.2%** | **Consumer, Non-cyclical — 4.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;375000 | Amgen, Inc., 5.15%, 3/2/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;383103 |
| &nbsp;&nbsp;&nbsp;&nbsp;475000 | CVS Health Corp., 5.00%, 2/20/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475363 |
| &nbsp;&nbsp;&nbsp;&nbsp;200000 | Elevance Health, Inc., 4.90%, 2/8/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200017 |
| &nbsp;&nbsp;&nbsp;&nbsp;550000 | GE HealthCare Technologies, Inc., 5.60%, 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;551152 |
| &nbsp;&nbsp;&nbsp;&nbsp;525000 | HCA, Inc., 5.20%, 6/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;536445 |
| &nbsp;&nbsp;&nbsp;&nbsp;480000 | Royalty Pharma Plc, 5.15%, 9/2/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;489614 |
| &nbsp;&nbsp;&nbsp;&nbsp;415000 | Solventum Corp., 5.45%, 2/25/27(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420686 |
|  |  | &nbsp;&nbsp;&nbsp;3056380 |
| **Energy — 2.3%** | **Energy — 2.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;100000 | Baker Hughes Holdings LLC / Baker Hughes Co.-Obligor, Inc., 2.06%, 12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96914 |
| &nbsp;&nbsp;&nbsp;&nbsp;450000 | Columbia Pipelines Holding Co. LLC, 6.06%, 8/15/26(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455094 |
| &nbsp;&nbsp;&nbsp;&nbsp;540000 | Energy Transfer LP, 5.25%, 7/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;553452 |
| &nbsp;&nbsp;&nbsp;&nbsp;500000 | Enterprise Products Operating LLC, 5.05%, 1/10/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501305 |
| &nbsp;&nbsp;&nbsp;&nbsp;125000 | Kinder Morgan, Inc., 1.75%, 11/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120861 |
|  |  | &nbsp;&nbsp;&nbsp;1727626 |
| **Financial — 26.4%** | **Financial — 26.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;255000 | AerCap Ireland Capital DAC / AerCap Global Aviation Trust, 4.63%, 9/10/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255069 |
| &nbsp;&nbsp;1000000 | American Express Co., 6.34%, 10/30/26(c) | &nbsp;&nbsp;&nbsp;1005898 |
| &nbsp;&nbsp;&nbsp;&nbsp;250000 | Athene Global Funding, 1.61%, 6/29/26(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243134 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Short Duration Fixed Income Fund (cont.)

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| &nbsp;&nbsp;&nbsp;$125000 | Athene Global Funding, 1.73%, 10/2/26(a) | &nbsp;&nbsp;&nbsp;&nbsp;$120683 |
| &nbsp;&nbsp;&nbsp;&nbsp;750000 | Bank of America Corp., 5.08%, 1/20/27(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;752191 |
| &nbsp;&nbsp;&nbsp;&nbsp;175000 | Bank of Montreal, 5.00%, 1/27/29(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177870 |
| &nbsp;&nbsp;&nbsp;&nbsp;510000 | Barclays Plc, 5.30%, 8/9/26(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510246 |
| &nbsp;&nbsp;&nbsp;&nbsp;390000 | Charles Schwab Corp. (The), (SOFR Index + 1.050%), 5.44%, 3/3/27(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;392702 |
| &nbsp;&nbsp;&nbsp;&nbsp;350000 | Citigroup, Inc., (SOFR RATE + 0.770%), 5.16%, 6/9/27(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350218 |
| &nbsp;&nbsp;&nbsp;&nbsp;620000 | Citizens Financial Group, Inc., 5.84%, 1/23/30(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;641913 |
| &nbsp;&nbsp;&nbsp;&nbsp;170000 | Comerica, Inc., 5.98%, 1/30/30(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174100 |
| &nbsp;&nbsp;&nbsp;&nbsp;540000 | Credit Agricole SA, 1.25%, 1/26/27(a),(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;529751 |
| &nbsp;&nbsp;&nbsp;&nbsp;500000 | Credit Agricole SA, 5.34%, 1/10/30(a),(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;511412 |
| &nbsp;&nbsp;&nbsp;&nbsp;275000 | Crown Castle, Inc., REIT, 1.35%, 7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;274611 |
| &nbsp;&nbsp;&nbsp;&nbsp;570000 | Deutsche Bank AG, 5.71%, 2/8/28(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;579540 |
| &nbsp;&nbsp;&nbsp;&nbsp;200000 | DNB Bank ASA, 1.54%, 5/25/27(a),(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194864 |
| &nbsp;&nbsp;&nbsp;&nbsp;565000 | Equitable America Global Funding, 4.65%, 6/9/28(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;569235 |
| &nbsp;&nbsp;&nbsp;&nbsp;300000 | GA Global Funding Trust, 2.25%, 1/6/27(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;289808 |
| &nbsp;&nbsp;&nbsp;&nbsp;750000 | Goldman Sachs Group, Inc. (The), 4.94%, 4/23/28(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;756223 |
| &nbsp;&nbsp;&nbsp;&nbsp;450000 | Goldman Sachs Group, Inc. (The), 5.80%, 8/10/26(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450572 |
| &nbsp;&nbsp;&nbsp;&nbsp;750000 | HSBC Holdings Plc, 4.29%, 9/12/26(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;749312 |
| &nbsp;&nbsp;&nbsp;&nbsp;750000 | HSBC Holdings Plc, 5.60%, 5/17/28(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;764340 |
| &nbsp;&nbsp;&nbsp;&nbsp;175000 | JPMorgan Chase & Co., 5.04%, 1/23/28(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176878 |
| &nbsp;&nbsp;1000000 | JPMorgan Chase & Co., 6.07%, 10/22/27(c) | &nbsp;&nbsp;&nbsp;&nbsp;1021427 |
| &nbsp;&nbsp;&nbsp;&nbsp;425000 | KeyBank NA, 4.15%, 8/8/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;424416 |
| &nbsp;&nbsp;&nbsp;&nbsp;510000 | Lloyds Banking Group Plc, 4.72%, 8/11/26(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;509947 |
| &nbsp;&nbsp;&nbsp;&nbsp;600000 | Lloyds Banking Group Plc, 4.82%, 6/13/29(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;605412 |
| &nbsp;&nbsp;&nbsp;&nbsp;240000 | Lloyds Banking Group Plc, 5.09%, 11/26/28(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243153 |
| &nbsp;&nbsp;&nbsp;&nbsp;200000 | Macquarie Airfinance Holdings Ltd., 6.40%, 3/26/29(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208901 |
| &nbsp;&nbsp;&nbsp;&nbsp;425000 | Manufacturers & Traders Trust Co., 4.65%, 1/27/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;424821 |
| &nbsp;&nbsp;&nbsp;&nbsp;760000 | Met Tower Global Funding, 4.00%, 10/1/27(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;755898 |
| &nbsp;&nbsp;&nbsp;&nbsp;765000 | Morgan Stanley, 5.05%, 1/28/27(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;767225 |
| &nbsp;&nbsp;&nbsp;&nbsp;700000 | New York Life Global Funding, 3.90%, 10/1/27(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;695800 |
| &nbsp;&nbsp;&nbsp;&nbsp;350000 | Nomura Holdings, Inc., 5.10%, 7/3/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 |
| &nbsp;&nbsp;&nbsp;&nbsp;460000 | PNC Bank NA, 4.54%, 5/13/27(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460362 |
| &nbsp;&nbsp;1000000 | PNC Financial Services Group, Inc. (The), 6.62%, 10/20/27(c) | &nbsp;&nbsp;&nbsp;&nbsp;1028260 |
| &nbsp;&nbsp;&nbsp;&nbsp;500000 | Truist Financial Corp., MTN, 7.16%, 10/30/29(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540943 |
| &nbsp;&nbsp;&nbsp;&nbsp;420000 | Wells Fargo & Co., GMTN, 3.53%, 3/24/28(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;414445 |
| &nbsp;&nbsp;&nbsp;&nbsp;385000 | Wells Fargo & Co., Series W, GMTN, 4.90%, 1/24/28(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;387802 |
|  |  | &nbsp;&nbsp;&nbsp;19309382 |
| **Industrial — 0.4%** | **Industrial — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;300000 | CNH Industrial Capital LLC, 1.45%, 7/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290564 |
| **Technology — 4.5%** | **Technology — 4.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;750000 | Broadcom, Inc., 3.46%, 9/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;742948 |
| &nbsp;&nbsp;&nbsp;&nbsp;500000 | Broadcom, Inc., 4.80%, 4/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;507268 |
| &nbsp;&nbsp;&nbsp;&nbsp;525000 | Micron Technology, Inc., 5.38%, 4/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;539313 |
| &nbsp;&nbsp;&nbsp;&nbsp;500000 | Oracle Corp., 3.25%, 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;488478 |
| &nbsp;&nbsp;&nbsp;&nbsp;295000 | Oracle Corp., 5.80%, 11/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;296193 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Short Duration Fixed Income Fund (cont.)

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| $450000 | Synopsys, Inc., 4.65%, 4/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;$454597 |
| &nbsp;&nbsp;200000 | TSMC Arizona Corp., 1.75%, 10/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193465 |
| &nbsp;&nbsp;&nbsp;&nbsp;49000 | Western Digital Corp., 4.75%, 2/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48880 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;3271142 |
| **Utilities — 2.5%** | **Utilities — 2.5%** |  |
| &nbsp;&nbsp;275000 | Ameren Corp., 1.95%, 3/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265020 |
| &nbsp;&nbsp;250000 | CenterPoint Energy, Inc., (TBA), 1.45%, 6/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243130 |
| &nbsp;&nbsp;250000 | Fells Point Funding Trust, 3.05%, 1/31/27(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244694 |
| &nbsp;&nbsp;500000 | NextEra Energy Capital Holdings, Inc., 4.85%, 2/4/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;507029 |
| &nbsp;&nbsp;260000 | NextEra Energy Capital Holdings, Inc., 5.75%, 9/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260381 |
| &nbsp;&nbsp;300000 | System Energy Resources, Inc., 6.00%, 4/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312311 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1832565 |
| **Total Corporate Bonds** | **Total Corporate Bonds** | &nbsp;&nbsp;&nbsp;**34861050** |
| (Cost $34,562,444) | (Cost $34,562,444) |  |
| **Asset Backed Securities — 40.1%** | **Asset Backed Securities — 40.1%** |  |
| &nbsp;&nbsp;157512 | ACHV ABS Trust, Series 2024-3AL, Class B, 5.45%, 12/26/31(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158098 |
| &nbsp;&nbsp;306867 | ACHV ABS Trust, Series 2024-3AL, Class C, 5.68%, 12/26/31(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;308753 |
| &nbsp;&nbsp;347475 | ACM Auto Trust, Series 2023-2A, Class B, 9.85%, 6/20/30(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;353015 |
| &nbsp;&nbsp;201811 | ACM Auto Trust, Series 2024-2A, Class A, 6.06%, 2/20/29(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202111 |
| &nbsp;&nbsp;175000 | Affirm Asset Securitization Trust, Series 2024-X2, Class C, 5.62%, 12/17/29(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175504 |
| &nbsp;&nbsp;685000 | Ally Auto Receivables Trust, Series 2023-A, Class C, 6.08%, 1/17/34(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;694510 |
| &nbsp;&nbsp;485001 | Amur Equipment Finance Receivables X LLC, Series 2022-1A, Class B, 2.20%, 1/20/28(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483011 |
| &nbsp;&nbsp;675000 | Amur Equipment Finance Receivables XI LLC, Series 2022-2A, Class C, 6.27%, 1/22/29(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;683380 |
| &nbsp;&nbsp;750000 | Amur Equipment Finance Receivables XII LLC, Series 2023-1A, Class D, 7.48%, 7/22/30(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;785718 |
| &nbsp;&nbsp;100000 | Carmax Auto Owner Trust, Series 2021-4, Class C, 1.38%, 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98183 |
| &nbsp;&nbsp;380000 | Carmax Auto Owner Trust, Series 2022-4, Class C, 6.49%, 7/17/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390560 |
| &nbsp;&nbsp;365000 | Carmax Auto Owner Trust, Series 2022-4, Class D, 8.08%, 4/16/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;381580 |
| &nbsp;&nbsp;525000 | Carmax Auto Owner Trust, Series 2024-3, Class C, 5.28%, 3/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;533468 |
| &nbsp;&nbsp;&nbsp;&nbsp;36487 | CarMax Auto Owner Trust, Series 2022-1, Class A3, 1.47%, 12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36291 |
| &nbsp;&nbsp;&nbsp;&nbsp;85219 | Carvana Auto Receivables Trust, Series 2021-N3, Class D, 1.58%, 6/12/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82352 |
| &nbsp;&nbsp;&nbsp;&nbsp;85700 | Carvana Auto Receivables Trust, Series 2021-N4, Class D, 2.30%, 9/11/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82468 |
| &nbsp;&nbsp;620000 | Centersquare Issuer LLC, Series 2024-1A, Class B, 5.60%, 10/26/54(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;603286 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Short Duration Fixed Income Fund (cont.)

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| &nbsp;&nbsp;&nbsp;$500000 | Crown Point CLO IV Ltd., Series 2018-4A, Class D, (Term SOFR 3M + 3.012%), 7.28%, 4/20/31(a),(b) | &nbsp;&nbsp;&nbsp;$497750 |
| &nbsp;&nbsp;&nbsp;&nbsp;500000 | Dell Equipment Finance Trust, Series 2023-2, Class D, 6.74%, 7/23/29(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;504650 |
| &nbsp;&nbsp;&nbsp;&nbsp;700000 | Dell Equipment Finance Trust, Series 2024-1, Class C, 5.73%, 3/22/30(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;708361 |
| &nbsp;&nbsp;&nbsp;&nbsp;750000 | Dell Equipment Finance Trust, Series 2024-1, Class D, 6.12%, 9/23/30(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;761119 |
| &nbsp;&nbsp;&nbsp;&nbsp;225000 | Dell Equipment Finance Trust, Series 2024-2, Class D, 5.29%, 2/24/31(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226138 |
| &nbsp;&nbsp;&nbsp;&nbsp;252410 | Drive Auto Receivables Trust, Series 2021-2, Class D, 1.39%, 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250464 |
| &nbsp;&nbsp;&nbsp;&nbsp;995000 | DT Auto Owner Trust, Series 2023-2A, Class D, 6.62%, 2/15/29(a) | &nbsp;&nbsp;&nbsp;1022452 |
| &nbsp;&nbsp;&nbsp;&nbsp;341152 | Exeter Automobile Receivables Trust, Series 2022-6A, Class C, 6.32%, 5/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;342806 |
| &nbsp;&nbsp;&nbsp;&nbsp;750000 | Exeter Automobile Receivables Trust, Series 2023-1A, Class D, 6.69%, 6/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;762654 |
| &nbsp;&nbsp;&nbsp;&nbsp;550000 | Exeter Automobile Receivables Trust, Series 2023-2A, Class D, 6.32%, 8/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;559763 |
| &nbsp;&nbsp;&nbsp;&nbsp;475000 | Exeter Automobile Receivables Trust, Series 2023-5A, Class C, 6.85%, 1/16/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485157 |
| &nbsp;&nbsp;&nbsp;&nbsp;800000 | Exeter Automobile Receivables Trust, Series 2023-5A, Class D, 7.13%, 2/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;830244 |
| &nbsp;&nbsp;&nbsp;&nbsp;525000 | Exeter Automobile Receivables Trust, Series 2024-4A, Class C, 5.48%, 8/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530290 |
| &nbsp;&nbsp;&nbsp;&nbsp;845000 | Ford Credit Auto Owner Trust, Series 2021-2, Class D, 2.60%, 5/15/34(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;816892 |
| &nbsp;&nbsp;&nbsp;&nbsp;710000 | Ford Credit Floorplan Master Owner Trust A, Series 2020-2, Class B, 1.32%, 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;704491 |
| &nbsp;&nbsp;&nbsp;&nbsp;640000 | Ford Credit Floorplan Master Owner Trust A, Series 2020-2, Class C, 1.87%, 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;632115 |
| &nbsp;&nbsp;&nbsp;&nbsp;425000 | Gm Financial Automobile Leasing Trust, Series 2025-2, Class B, 4.80%, 4/20/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;427185 |
| &nbsp;&nbsp;&nbsp;&nbsp;389509 | GM Financial Automobile Leasing Trust, Series 2023-1, Class B, 5.51%, 1/20/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;389615 |
| &nbsp;&nbsp;1000000 | GM Financial Consumer Automobile Receivables Trust, Series 2023-1, Class B, 5.03%, 9/18/28 | &nbsp;&nbsp;&nbsp;1007831 |
| &nbsp;&nbsp;&nbsp;&nbsp;700000 | Hyundai Auto Lease Securitization Trust, Series 2024-B, Class B, 5.56%, 8/15/28(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;708823 |
| &nbsp;&nbsp;&nbsp;&nbsp;575000 | LAD Auto Receivables Trust, Series 2023-3A, Class C, 6.43%, 12/15/28(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;586423 |
| &nbsp;&nbsp;&nbsp;&nbsp;470000 | Lendbuzz Securitization Trust, Series 2025-2A, Class A2, 5.18%, 5/15/30(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;471265 |
| &nbsp;&nbsp;&nbsp;&nbsp;101032 | Marlette Funding Trust, Series 2023-3A, Class B, 6.71%, 9/15/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101196 |
| &nbsp;&nbsp;&nbsp;&nbsp;600000 | Marlette Funding Trust, Series 2024-1A, Class B, 6.07%, 7/17/34(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;603861 |
| &nbsp;&nbsp;1000000 | NextGear Floorplan Master Owner Trust, Series 2025-1A, Class B, 4.89%, 2/15/30(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;998675 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Short Duration Fixed Income Fund (cont.)

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| $409932 | Pagaya AI Debt Grantor Trust, Series 2024-8, Class D, 6.53%, 1/15/32(a) | &nbsp;&nbsp;&nbsp;&nbsp;$411594 |
| &nbsp;&nbsp;130959 | Santander Drive Auto Receivables Trust, Series 2021-2, Class D, 1.35%, 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130472 |
| &nbsp;&nbsp;114498 | Santander Drive Auto Receivables Trust, Series 2021-3, Class D, 1.33%, 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114004 |
| &nbsp;&nbsp;750000 | Santander Drive Auto Receivables Trust, Series 2022-2, Class C, 3.76%, 7/16/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;744805 |
| &nbsp;&nbsp;625000 | Santander Drive Auto Receivables Trust, Series 2023-4, Class B, 5.77%, 12/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;632873 |
| &nbsp;&nbsp;475000 | Santander Drive Auto Receivables Trust, Series 2023-4, Class C, 6.04%, 12/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;486859 |
| &nbsp;&nbsp;505000 | Santander Drive Auto Receivables Trust, Series 2023-5, Class B, 6.16%, 12/17/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;513450 |
| &nbsp;&nbsp;425000 | SBNA Auto Receivables Trust, Series 2025-SF1, Class B, 5.12%, 3/17/31(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425058 |
| &nbsp;&nbsp;500000 | Shackleton-R CLO Ltd., Series 2015-7RA, Class DRR, (Term SOFR 3M + 3.000%), 7.26%, 7/15/31(a),(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498150 |
| &nbsp;&nbsp;360000 | Switch ABS Issuer LLC, Series 2024-2A, Class B, 6.20%, 6/25/54(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;363971 |
| &nbsp;&nbsp;550000 | Tesla Auto Lease Trust, Series 2023-A, Class B, 6.41%, 7/20/27(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550794 |
| &nbsp;&nbsp;475000 | Tesla Auto Lease Trust, Series 2023-B, Class B, 6.57%, 8/20/27(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;477332 |
| &nbsp;&nbsp;610000 | Tricolor Auto Securitization Trust, Series 2024-1A, Class D, 8.61%, 4/17/28(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;626724 |
| &nbsp;&nbsp;500000 | Tricolor Auto Securitization Trust, Series 2024-3A, Class D, 6.34%, 4/16/29(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;507979 |
| &nbsp;&nbsp;450000 | Upstart Securitization Trust, Series 2023-2, Class B, 7.92%, 6/20/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;454868 |
| &nbsp;&nbsp;425013 | Upstart Securitization Trust, Series 2024-1, Class A, 5.33%, 11/20/34(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425790 |
| &nbsp;&nbsp;215000 | Verizon Master Trust, Series 2023-1, Class C, 4.98%, 1/22/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214971 |
| &nbsp;&nbsp;750000 | Westlake Automobile Receivables Trust, Series 2025-1A, Class C, 5.14%, 10/15/30(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;756923 |
| **Total Asset Backed Securities** | **Total Asset Backed Securities** | &nbsp;&nbsp;&nbsp;**29319125** |
| (Cost $29,158,110) | (Cost $29,158,110) |  |
| **Collateralized Mortgage Obligations — 7.3%** | **Collateralized Mortgage Obligations — 7.3%** |  |
| &nbsp;&nbsp;300000 | Connecticut Avenue Securities Trust, Series 2024-R02, Class 1M2, (SOFR30A + 1.800%), 6.11%, 2/25/44(a),(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302531 |
| &nbsp;&nbsp;316000 | Connecticut Avenue Securities Trust, Series 2024-R05, Class 2M2, (SOFR30A + 1.700%), 6.01%, 7/25/44(a),(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317086 |
| &nbsp;&nbsp;355216 | Cross Mortgage Trust, Series 2023-H2, Class A1A, 7.14%, 11/25/68(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360329 |
| &nbsp;&nbsp;&nbsp;&nbsp;95074 | Freddie Mac STACR REMIC Trust, Series 2022-DNA3, Class M1A, (SOFR30A + 2.000%), 6.31%, 4/25/42(a),(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95995 |
| &nbsp;&nbsp;&nbsp;&nbsp;75241 | Freddie Mac STACR REMIC Trust, Series 2023-DNA1, Class M1A, (SOFR30A + 2.100%), 6.41%, 3/25/43(a),(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76513 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Short Duration Fixed Income Fund (cont.)

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| &nbsp;&nbsp;&nbsp;$185000 | Freddie Mac STACR REMIC Trust, Series 2024-DNA3, Class M2, (SOFR30A + 1.450%), 5.76%, 10/25/44(a),(b) | &nbsp;&nbsp;&nbsp;$185256 |
| &nbsp;&nbsp;&nbsp;&nbsp;710000 | HOMES Trust, Series 2025-AFC2, Class A1A, 5.47%, 6/25/60(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710463 |
| &nbsp;&nbsp;&nbsp;&nbsp;490309 | JP Morgan Mortgage Trust, Series 2025-VIS1, Class A1, 5.49%, 8/25/55(a),(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;492608 |
| &nbsp;&nbsp;&nbsp;&nbsp;277672 | OBX Trust, Series 2023-NQM6, Class A3, 6.98%, 7/25/63(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;279053 |
| &nbsp;&nbsp;&nbsp;&nbsp;372814 | OBX Trust, Series 2025-NQM10, Class A1, 5.45%, 5/25/65(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373718 |
| &nbsp;&nbsp;&nbsp;&nbsp;395000 | OBX Trust, Series 2025-NQM11, Class A1, 5.42%, 5/25/65(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395783 |
| &nbsp;&nbsp;&nbsp;&nbsp;382722 | OBX Trust, Series 2025-NQM3, Class A1, 5.65%, 12/1/64(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;384530 |
| &nbsp;&nbsp;&nbsp;&nbsp;270351 | Verus Securitization Trust, Series 2023-4, Class A1, 5.81%, 5/25/68(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270286 |
| &nbsp;&nbsp;&nbsp;&nbsp;427650 | Verus Securitization Trust, Series 2024-3, Class A3, 6.85%, 4/25/69(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;431854 |
| &nbsp;&nbsp;&nbsp;&nbsp;700000 | Verus Securitization Trust, Series 2025-5, Class A1, 5.43%, 6/25/70(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;702228 |
| **Total Collateralized Mortgage Obligations** | **Total Collateralized Mortgage Obligations** | &nbsp;&nbsp;&nbsp;**5378233** |
| (Cost $5,368,714) | (Cost $5,368,714) |  |
| **U.S. Treasury Obligations — 2.7%** | **U.S. Treasury Obligations — 2.7%** |  |
| **U.S. Treasury Bill — 2.7%** | **U.S. Treasury Bill — 2.7%** |  |
| &nbsp;&nbsp;2000000 | U.S. Treasury Bill- When Issued, 4.25%, 7/15/25(e) | &nbsp;&nbsp;&nbsp;1996782 |
| **Total U.S. Treasury Obligations** | **Total U.S. Treasury Obligations** | &nbsp;&nbsp;&nbsp;**1996782** |
| (Cost $1,996,716) | (Cost $1,996,716) |  |
| **U.S. Government Agency Backed Mortgages — 0.3%** | **U.S. Government Agency Backed Mortgages — 0.3%** |  |
| **Fannie Mae — 0.3%** | **Fannie Mae — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;218222 | Pool #CB7160, 6.50%, 9/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1027 | Series 2001-70, Class OF, (SOFR30A + 1.064%), 5.37%, 10/25/31(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1037 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;839 | Series 2009-87, Class FX, (SOFR30A + 0.864%), 5.17%, 11/25/39(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;843 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227259 |
| **Freddie Mac — 0.0%** | **Freddie Mac — 0.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;767 | Series 2448, Class FT, (SOFR30A + 1.114%), 5.42%, 3/15/32(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;776 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875 | Series 2488, Class FQ, (SOFR30A + 1.114%), 5.42%, 3/15/32(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;886 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34 | Series 3770, Class FP, (SOFR30A + 0.614%), 4.92%, 11/15/40(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1696 |
| **Total U.S. Government Agency Backed Mortgages** | **Total U.S. Government Agency Backed Mortgages** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**228955** |
| (Cost $226,223) | (Cost $226,223) |  |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay Short Duration Fixed Income Fund (cont.)

------

June 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value** |
| **Investment Company — 0.8%** | **Investment Company — 0.8%** |  |
| 541685 | RBC BlueBay U.S. Government Money Market Fund,<br> Institutional Class 1(f) | &nbsp;&nbsp;&nbsp;&nbsp;$541685 |
| **Total Investment Company** | **Total Investment Company** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**541685** |
| (Cost $541,685) | (Cost $541,685) |  |
| **Total Investments** | **Total Investments** | **$72325830** |
| (Cost $71,853,892) — 98.9% | (Cost $71,853,892) — 98.9% |  |
| **Other assets in excess of liabilities — 1.1%** | **Other assets in excess of liabilities — 1.1%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**825969** |
| **NET ASSETS — 100.0%** | **NET ASSETS — 100.0%** | **$73151799** |

---

------

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

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

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

(d) Variable or floating rate security, which interest rate adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. Rate shown is the rate in effect
as of period end.

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

(f) Affiliated investment.

#### Financial futures contracts as of June 30, 2025:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Long Position** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value/Unrealized<br> Appreciation** | &nbsp;&nbsp;**Notional<br> Value** | &nbsp;&nbsp;**Notional<br> Value** | &nbsp;&nbsp;**Clearinghouse** |
| 2 Year U.S. Treasury Note | &nbsp;&nbsp;101 | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;$85713 | &nbsp;&nbsp;USD | &nbsp;&nbsp;$21010367 | &nbsp;&nbsp;Citigroup Global Markets, Inc. |
| **Total** |  |  | &nbsp;&nbsp;$85713 |  |  |  |

---

---

| |
|:---|
| Abbreviations used are defined below: |
| GMTN - Global Medium Term Note |
| MTN - Medium Term Note |
| REIT - Real Estate Investment Trust |
| SOFR - Secured Overnight Financing Rate |
| SOFR30A - Secured Overnight Financing Rate 30 Day Average |
| TBA - To-be-announced |
| USD - United States Dollar |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Minneapolis

  - **State:** MN

  - **Foreign country:** US

  - **Zip / Postal Code:** 55401

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

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

- **a. Name of Series:** RBC BlueBay Short Duration Fixed Income Fund

- **b. EDGAR series identifier (if any):** S000043718

- **c. LEI of Series:** 5493007T7EM1H5XUC487

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

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

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $73203413.15

**Total Liabilities:** $306938.00

**Net Assets:** $72896475.15

**Cash Not Reported:** $524.47

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00020000 | **1-Year:** -0.01050000 | **5-Year:** -0.00410000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

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

- **3-Month:** -0.00120000 | **1-Year:** -0.01040000 | **5-Year:** -0.00640000 | **10-Year:** -0.00050000 | **30-Year:** -0.00010000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000135576 | 0.49%                | 0.09%                | 0.79%                |
| Class ID C000138515 | 0.48%                | 0.19%                | 0.68%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $241.82                  | $-3338.22                                  |
| Month 2  | $10170.86                | $-41015.19                                 |
| Month 3  | $-352.38                 | $200157.86                                 |

**Designated Index Information**

- **Index Name:** ICE BofA 1-3 Year US Corp & Govt Index

- **Index Identifier:** B1A0

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| GA GLOBAL FUNDING TRUST                     | GA Global Funding Trust                                                         | CUSIP: 36143L2G9<br>LEI: 54930029I8ROQ4OROZ88 | Long             | DBT              | CORP              | US        |    300000 | PA      | $289807.93    | 0.40%             | 2027-01-06      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                      | NextEra Energy Capital Holdings Inc                                             | CUSIP: 65339KBS8<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    260000 | PA      | $260380.65    | 0.36%             | 2025-09-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ACHV ABS TRUST                              | ACHV ABS Trust 2024-3AL                                                         | CUSIP: 00092KAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    157512 | PA      | $158097.90    | 0.22%             | 2031-12-26      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                     | Hyundai Capital America                                                         | CUSIP: 44891ACX3<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |    400000 | PA      | $404486.85    | 0.55%             | 2027-03-19      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| GM Financial Automobile Leasin              | Gm Financial Automobile Leasing Trust 2025-2                                    | CUSIP: 362962AF9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    425000 | PA      | $427184.62    | 0.59%             | 2029-04-20      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                     | Goldman Sachs Group Inc/The                                                     | CUSIP: 38145GAM2<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    450000 | PA      | $450572.03    | 0.62%             | 2026-08-10      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| WESTERN DIGITAL CORP                        | Western Digital Corp                                                            | CUSIP: 958102AM7<br>LEI: 549300QQXOOYEF89IC56 | Long             | DBT              | CORP              | US        |     49000 | PA      | $48879.63     | 0.07%             | 2026-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Lendbuzz Securitization Trust               | Lendbuzz Securitization Trust 2025-2                                            | CUSIP: 52611JAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    470000 | PA      | $471265.05    | 0.65%             | 2030-05-15      | Fixed         | 5.18%                 | 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      | $498150.00    | 0.68%             | 2031-07-15      | Floating      | 7.26%                 | No            |                  2 | On Loan: No      |
| TREASURY BILL                               | United States Treasury Bill                                                     | CUSIP: 912797QA8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2000000 | PA      | $1996782.00   | 2.74%             | 2025-07-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HCA INC                                     | HCA Inc                                                                         | CUSIP: 404119CP2<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    525000 | PA      | $536445.11    | 0.74%             | 2028-06-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                            | Deutsche Bank AG/New York NY                                                    | CUSIP: 251526CV9<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    570000 | PA      | $579540.22    | 0.80%             | 2028-02-08      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl              | Santander Drive Auto Receivables Trust 2023-5                                   | CUSIP: 80286PAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    505000 | PA      | $513449.59    | 0.70%             | 2029-12-17      | Fixed         | 6.16%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR REMIC Trust 2024-DNA3                                         | CUSIP: 35564NFA6<br>LEI: 529900P3PHNE8PW64Z68 | Long             | ABS-MBS          | CORP              | US        |    185000 | PA      | $185256.08    | 0.25%             | 2044-10-25      | Floating      | 5.76%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                 | Oracle Corp                                                                     | CUSIP: 68389XBN4<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    500000 | PA      | $488477.91    | 0.67%             | 2027-11-15      | Fixed         | 3.25%                 | 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        |    490309 | PA      | $492608.23    | 0.68%             | 2055-08-25      | Variable      | 5.49%                 | No            |                  2 | On Loan: No      |
| CITIZENS FINANCIAL GROUP                    | Citizens Financial Group Inc                                                    | CUSIP: 174610BF1<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |    620000 | PA      | $641912.90    | 0.88%             | 2030-01-23      | Fixed         | 5.84%                 | No            |                  2 | On Loan: No      |
| GM Financial Consumer Automobi              | GM Financial Consumer Automobile Receivables Trust 2023-1                       | CUSIP: 38013JAF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1007831.06   | 1.38%             | 2028-09-18      | Fixed         | 5.03%                 | No            |                  2 | On Loan: No      |
| Switch ABS Issuer, LLC                      | Switch ABS Issuer LLC                                                           | CUSIP: 871044AG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    360000 | PA      | $363970.61    | 0.50%             | 2054-06-25      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL                            | Bank of Montreal                                                                | CUSIP: 06368MJG0<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |    175000 | PA      | $177869.99    | 0.24%             | 2029-01-27      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                    | Lloyds Banking Group PLC                                                        | CUSIP: 53944YAT0<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    510000 | PA      | $509946.96    | 0.70%             | 2026-08-11      | Fixed         | 4.72%                 | No            |                  2 | On Loan: No      |
| NOMURA HOLDINGS INC                         | Nomura Holdings Inc                                                             | CUSIP: 65535HBE8<br>LEI: 549300B3CEAHYG7K8164 | Long             | DBT              | CORP              | JP        |    350000 | PA      | $350000.00    | 0.48%             | 2025-07-03      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC                                 | Freddie Mac REMICS                                                              | CUSIP: 31392KYV2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       767 | PA      | $775.95       | 0.00%             | 2032-03-15      | Floating      | 5.42%                 | 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      | $497750.00    | 0.68%             | 2031-04-20      | Floating      | 7.28%                 | No            |                  2 | On Loan: No      |
| Tesla Auto Lease Trust                      | Tesla Auto Lease Trust 2023-B                                                   | CUSIP: 88167QAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    475000 | PA      | $477331.87    | 0.65%             | 2027-08-20      | Fixed         | 6.57%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                     | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GC77<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    750000 | PA      | $756222.68    | 1.04%             | 2028-04-23      | Fixed         | 4.94%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE                                  | Fannie Mae REMICS                                                               | CUSIP: 31398FM57<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       839 | PA      | $843.13       | 0.00%             | 2039-11-25      | Floating      | 5.17%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                 | Oracle Corp                                                                     | CUSIP: 68389XCF0<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    295000 | PA      | $296193.28    | 0.41%             | 2025-11-10      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Verizon Master Trust                        | Verizon Master Trust                                                            | CUSIP: 92348KBK8<br>LEI: 5493007MUBNP1GFMEB89 | Long             | ABS-O            | CORP              | US        |    215000 | PA      | $214971.31    | 0.29%             | 2029-01-22      | Fixed         | 4.98%                 | No            |                  2 | On Loan: No      |
| NEW YORK LIFE GLOBAL FDG                    | New York Life Global Funding                                                    | CUSIP: 64952WFJ7<br>LEI: 635400DPNHEAUHB7ZI15 | Long             | DBT              | CORP              | US        |    700000 | PA      | $695800.05    | 0.95%             | 2027-10-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| EQUITABLE AMERICA GLOBAL                    | Equitable America Global Funding                                                | CUSIP: 29446Q2A0<br>LEI: 98450066CCBIACF06694 | Long             | DBT              | CORP              | US        |    565000 | PA      | $569234.86    | 0.78%             | 2028-06-09      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Upstart Securitization Trust                | Upstart Securitization Trust 2023-2                                             | CUSIP: 91683VAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    450000 | PA      | $454867.86    | 0.62%             | 2033-06-20      | Fixed         | 7.92%                 | No            |                  2 | On Loan: No      |
| MET TOWER GLOBAL FUNDING                    | Met Tower Global Funding                                                        | CUSIP: 58989V2J2<br>LEI: 635400OFJCY9IOGBGY57 | Long             | DBT              | CORP              | US        |    760000 | PA      | $755897.70    | 1.04%             | 2027-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                     | CarMax Auto Owner Trust 2022-1                                                  | CUSIP: 14317CAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     36487 | PA      | $36290.91     | 0.05%             | 2026-12-15      | Fixed         | 1.47%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                     | Carmax Auto Owner Trust 2022-4                                                  | CUSIP: 14318UAG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    380000 | PA      | $390559.62    | 0.54%             | 2028-07-17      | Fixed         | 6.49%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC                                 | Freddie Mac REMICS                                                              | CUSIP: 3137A4LH8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |        34 | PA      | $34.15        | 0.00%             | 2040-11-15      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2024-R02                                    | CUSIP: 20754GAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $302531.25    | 0.42%             | 2044-02-25      | Floating      | 6.11%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC                           | Kinder Morgan Inc                                                               | CUSIP: 49456BAU5<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |    125000 | PA      | $120861.53    | 0.17%             | 2026-11-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE SA                          | Credit Agricole SA                                                              | CUSIP: 22535WAK3<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |    500000 | PA      | $511412.02    | 0.70%             | 2030-01-10      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| Tesla Auto Lease Trust                      | Tesla Auto Lease Trust 2023-A                                                   | CUSIP: 88167PAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    550000 | PA      | $550794.07    | 0.76%             | 2027-07-20      | Fixed         | 6.41%                 | No            |                  2 | On Loan: No      |
| RBC BlueBay US Government Money Market Fund | RBC BlueBay US Government Money Market Fund                                     | CUSIP: 74926P696<br>LEI: 549300RFDC5U7WLJKO50 | Long             | STIV             | RF                | US        |    541685 | NS      | $541684.65    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| CENTERPOINT ENERGY INC                      | CenterPoint Energy Inc                                                          | CUSIP: 15189TBA4<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | DBT              | CORP              | US        |    250000 | PA      | $243129.85    | 0.33%             | 2026-06-01      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                    | OBX 2025-NQM3 Trust                                                             | CUSIP: 67448YAC8<br>LEI: 254900MBGY6CR10DAX67 | Long             | ABS-MBS          | CORP              | US        |    382722 | PA      | $384530.28    | 0.53%             | 2064-12-01      | Variable      | 5.65%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                      | NextEra Energy Capital Holdings Inc                                             | CUSIP: 65339KDG2<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    500000 | PA      | $507029.28    | 0.70%             | 2028-02-04      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Drive Auto Receivables Trust                | Drive Auto Receivables Trust 2021-2                                             | CUSIP: 262104AF9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    252410 | PA      | $250463.96    | 0.34%             | 2029-03-15      | Fixed         | 1.39%                 | No            |                  2 | On Loan: No      |
| DAIMLER TRUCK FINAN NA                      | Daimler Truck Finance North America LLC                                         | CUSIP: 233853AP5<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |    500000 | PA      | $501288.57    | 0.69%             | 2026-01-16      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| DNB BANK ASA                                | DNB Bank ASA                                                                    | CUSIP: 23329PAG5<br>LEI: 549300GKFG0RYRRQ1414 | Long             | DBT              | CORP              | NO        |    200000 | PA      | $194864.42    | 0.27%             | 2027-05-25      | Fixed         | 1.53%                 | No            |                  2 | On Loan: No      |
| MICRON TECHNOLOGY INC                       | Micron Technology Inc                                                           | CUSIP: 595112CA9<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | DBT              | CORP              | US        |    525000 | PA      | $539312.96    | 0.74%             | 2028-04-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| ROYALTY PHARMA PLC                          | Royalty Pharma PLC                                                              | CUSIP: 78081BAQ6<br>LEI: 549300FGFN7VOK8BZR03 | Long             | DBT              | CORP              | GB        |    480000 | PA      | $489613.87    | 0.67%             | 2029-09-02      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| GE HEALTHCARE TECH INC                      | GE HealthCare Technologies Inc                                                  | CUSIP: 36267VAD5<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |    550000 | PA      | $551152.29    | 0.76%             | 2025-11-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| NextGear Floorplan Master Owne              | NextGear Floorplan Master Owner Trust                                           | CUSIP: 65341KCG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $998674.60    | 1.37%             | 2030-02-15      | Fixed         | 4.89%                 | No            |                  2 | On Loan: No      |
| Ford Credit Floorplan Master O              | Ford Credit Floorplan Master Owner Trust A                                      | CUSIP: 34528QHR8<br>LEI: 5493001DTG5N7T8BG747 | Long             | ABS-O            | CORP              | US        |    710000 | PA      | $704491.05    | 0.97%             | 2027-09-15      | Fixed         | 1.32%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                     | Hyundai Capital America                                                         | CUSIP: 44891ADU8<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |    545000 | PA      | $548092.38    | 0.75%             | 2027-06-23      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables               | Exeter Automobile Receivables Trust 2023-5                                      | CUSIP: 30168DAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    475000 | PA      | $485157.17    | 0.67%             | 2029-01-16      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| Dell Equipment Finance Trust                | Dell Equipment Finance Trust 2023-2                                             | CUSIP: 24703GAF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $504649.95    | 0.69%             | 2029-07-23      | Fixed         | 6.74%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables               | Exeter Automobile Receivables Trust 2023-5                                      | CUSIP: 30168DAF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    800000 | PA      | $830244.12    | 1.14%             | 2030-02-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                | Barclays PLC                                                                    | CUSIP: 06738EBZ7<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    510000 | PA      | $510246.10    | 0.70%             | 2026-08-09      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Ford Credit Auto Owner Trust/F              | Ford Credit Auto Owner Trust 2021-REV2                                          | CUSIP: 345285AD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    845000 | PA      | $816891.71    | 1.12%             | 2034-05-15      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                      | PNC Financial Services Group Inc/The                                            | CUSIP: 693475BT1<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1028259.71   | 1.41%             | 2027-10-20      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Centersquare Issuer LLC                     | Centersquare Issuer LLC                                                         | CUSIP: 15201EAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    620000 | PA      | $603286.24    | 0.83%             | 2054-10-26      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                       | Truist Financial Corp                                                           | CUSIP: 89788MAQ5<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    500000 | PA      | $540943.01    | 0.74%             | 2029-10-30      | Fixed         | 7.16%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                  | Verus Securitization Trust 2024-3                                               | CUSIP: 92540MAC9<br>LEI: 2138005NRONUFED1TZ38 | Long             | ABS-MBS          | CORP              | US        |    427650 | PA      | $431854.20    | 0.59%             | 2069-04-25      | Variable      | 6.84%                 | No            |                  2 | On Loan: No      |
| COMERICA INC                                | Comerica Inc                                                                    | CUSIP: 200340AW7<br>LEI: I9Q57JVPWHHZ3ZGBW498 | Long             | DBT              | CORP              | US        |    170000 | PA      | $174100.04    | 0.24%             | 2030-01-30      | Fixed         | 5.98%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                     | Carmax Auto Owner Trust 2022-4                                                  | CUSIP: 14318UAH4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    365000 | PA      | $381580.50    | 0.52%             | 2029-04-16      | Fixed         | 8.08%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA                    | Volkswagen Group of America Finance LLC                                         | CUSIP: 928668CK6<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    605000 | PA      | $606149.69    | 0.83%             | 2026-08-14      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| ELEVANCE HEALTH INC                         | Elevance Health Inc                                                             | CUSIP: 28622HAA9<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |    200000 | PA      | $200017.13    | 0.27%             | 2026-02-08      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| ACM Auto Trust                              | ACM Auto Trust 2024-2                                                           | CUSIP: 00461WAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    201811 | PA      | $202111.29    | 0.28%             | 2029-02-20      | Fixed         | 6.06%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                    | OBX 2023-NQM6 Trust                                                             | CUSIP: 67117VAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    277672 | PA      | $279053.20    | 0.38%             | 2063-07-25      | Variable      | 6.97%                 | No            |                  2 | On Loan: No      |
| LAD Auto Receivables Trust                  | LAD Auto Receivables Trust 2023-3                                               | CUSIP: 50168BAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    575000 | PA      | $586423.22    | 0.80%             | 2028-12-15      | Fixed         | 6.43%                 | No            |                  2 | On Loan: No      |
| MANUF & TRADERS TRUST CO                    | Manufacturers & Traders Trust Co                                                | CUSIP: 55279HAV2<br>LEI: WWB2V0FCW3A0EE3ZJN75 | Long             | DBT              | CORP              | US        |    425000 | PA      | $424820.51    | 0.58%             | 2026-01-27      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                               | Citigroup Inc                                                                   | CUSIP: 172967MZ1<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    350000 | PA      | $350217.88    | 0.48%             | 2027-06-09      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                    | Lloyds Banking Group PLC                                                        | CUSIP: 539439BD0<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    600000 | PA      | $605412.41    | 0.83%             | 2029-06-13      | Fixed         | 4.82%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl              | Santander Drive Auto Receivables Trust 2021-2                                   | CUSIP: 80286XAF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    130959 | PA      | $130471.59    | 0.18%             | 2027-07-15      | Fixed         | 1.35%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                    | Lloyds Banking Group PLC                                                        | CUSIP: 53944YBC6<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    240000 | PA      | $243152.68    | 0.33%             | 2028-11-26      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| FELLS POINT FUNDING TR                      | Fells Point Funding Trust                                                       | CUSIP: 314382AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $244693.93    | 0.34%             | 2027-01-31      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables               | Exeter Automobile Receivables Trust 2022-6                                      | CUSIP: 30168AAE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    341152 | PA      | $342805.79    | 0.47%             | 2028-05-15      | Fixed         | 6.32%                 | No            |                  2 | On Loan: No      |
| Westlake Automobile Receivable              | Westlake Automobile Receivables Trust 2025-1                                    | CUSIP: 96043VAG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    750000 | PA      | $756923.20    | 1.04%             | 2030-10-15      | Fixed         | 5.14%                 | No            |                  2 | On Loan: No      |
| Tricolor Auto Securitization T              | Tricolor Auto Securitization Trust 2024-3                                       | CUSIP: 89617AAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $507978.52    | 0.70%             | 2029-04-16      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| HOMES TRUST                                 | HOMES 2025-AFC2 TRUST                                                           | CUSIP: 43761YAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    710000 | PA      | $710462.56    | 0.97%             | 2060-06-25      | Variable      | 5.47%                 | No            |                  2 | On Loan: No      |
| Marlette Funding Trust                      | Marlette Funding Trust 2024-1                                                   | CUSIP: 57108VAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    600000 | PA      | $603861.48    | 0.83%             | 2034-07-17      | Fixed         | 6.07%                 | No            |                  2 | On Loan: No      |
| Dell Equipment Finance Trust                | Dell Equipment Finance Trust 2024-2                                             | CUSIP: 24704EAL2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    225000 | PA      | $226138.35    | 0.31%             | 2031-02-24      | Fixed         | 5.29%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                    | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175CQ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    540000 | PA      | $565410.83    | 0.78%             | 2029-06-01      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| Affirm Inc                                  | Affirm Asset Securitization Trust 2024-X2                                       | CUSIP: 00833QAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    175000 | PA      | $175503.82    | 0.24%             | 2029-12-17      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| ATHENE GLOBAL FUNDING                       | Athene Global Funding                                                           | CUSIP: 04685A2Z3<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |    250000 | PA      | $243134.26    | 0.33%             | 2026-06-29      | Fixed         | 1.61%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                      | General Motors Financial Co Inc                                                 | CUSIP: 37045XDQ6<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    265000 | PA      | $264325.18    | 0.36%             | 2027-02-26      | Floating      | 5.35%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                  | Verus Securitization Trust 2025-5                                               | CUSIP: 92540XAA9<br>LEI: 213800Z7TIVJRAYLRV98 | Long             | ABS-MBS          | CORP              | US        |    700000 | PA      | $702227.85    | 0.96%             | 2070-06-25      | Variable      | 5.43%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                       | Wells Fargo & Co                                                                | CUSIP: 95000U2V4<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    420000 | PA      | $414444.66    | 0.57%             | 2028-03-24      | Fixed         | 3.53%                 | No            |                  2 | On Loan: No      |
| COLUMBIA PIPELINE HOLDCO                    | Columbia Pipelines Holding Co LLC                                               | CUSIP: 19828AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    450000 | PA      | $455093.74    | 0.62%             | 2026-08-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                              | Morgan Stanley                                                                  | CUSIP: 61747YEZ4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    765000 | PA      | $767224.95    | 1.05%             | 2027-01-28      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                        | Cross 2023-H2 Mortgage Trust                                                    | CUSIP: 22757NAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    355216 | PA      | $360328.48    | 0.49%             | 2068-11-25      | Variable      | 7.13%                 | No            |                  2 | On Loan: No      |
| GM Financial Automobile Leasin              | GM Financial Automobile Leasing Trust 2023-1                                    | CUSIP: 362541AF1<br>LEI: 254900DSTG5GSVOBDN09 | Long             | ABS-O            | CORP              | US        |    389509 | PA      | $389615.45    | 0.53%             | 2027-01-20      | Fixed         | 5.51%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE                                  | Fannie Mae REMICS                                                               | CUSIP: 31392BBU9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      1027 | PA      | $1037.45      | 0.00%             | 2031-10-25      | Floating      | 5.37%                 | No            |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER                    | Enterprise Products Operating LLC                                               | CUSIP: 29379VCC5<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |    500000 | PA      | $501305.27    | 0.69%             | 2026-01-10      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                             | CVS Health Corp                                                                 | CUSIP: 126650DS6<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    475000 | PA      | $475363.17    | 0.65%             | 2026-02-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                         | American Express Co                                                             | CUSIP: 025816DL0<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1005897.44   | 1.38%             | 2026-10-30      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                         | JPMorgan Chase & Co                                                             | CUSIP: 46647PDW3<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1021426.50   | 1.40%             | 2027-10-22      | Fixed         | 6.07%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                       | Wells Fargo & Co                                                                | CUSIP: 95000U3R2<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    385000 | PA      | $387802.20    | 0.53%             | 2028-01-24      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl              | Santander Drive Auto Receivables Trust 2023-4                                   | CUSIP: 802927AF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    475000 | PA      | $486859.16    | 0.67%             | 2031-12-15      | Fixed         | 6.04%                 | No            |                  2 | On Loan: No      |
| ACHV ABS TRUST                              | ACHV ABS Trust 2024-3AL                                                         | CUSIP: 00092KAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    306867 | PA      | $308752.63    | 0.42%             | 2031-12-26      | Fixed         | 5.68%                 | No            |                  2 | On Loan: No      |
| GEORGIA-PACIFIC LLC                         | Georgia-Pacific LLC                                                             | CUSIP: 37331NAR2<br>LEI: L2EVHWFHVAQK72TMH265 | Long             | DBT              | CORP              | US        |    165000 | PA      | $165849.22    | 0.23%             | 2028-06-30      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| SOLVAY FINANCE (AMERICA)                    | Syensqo Finance America LLC                                                     | CUSIP: 834423AE5<br>LEI: 54930073OEL5K0Y7NK81 | Long             | DBT              | CORP              | US        |    535000 | PA      | $554502.55    | 0.76%             | 2029-06-04      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| AXIS Equipment Finance Receiva              | Amur Equipment Finance Receivables XII LLC                                      | CUSIP: 03236YAE5<br>LEI: 5493000K1GV1VHEHGY40 | Long             | ABS-O            | CORP              | US        |    750000 | PA      | $785717.92    | 1.08%             | 2030-07-22      | Fixed         | 7.48%                 | No            |                  2 | On Loan: No      |
| AMEREN CORP                                 | Ameren Corp                                                                     | CUSIP: 023608AL6<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | DBT              | CORP              | US        |    275000 | PA      | $265020.31    | 0.36%             | 2027-03-15      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| Marlette Funding Trust                      | Marlette Funding Trust 2023-3                                                   | CUSIP: 57109RAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    101032 | PA      | $101195.89    | 0.14%             | 2033-09-15      | Fixed         | 6.71%                 | No            |                  2 | On Loan: No      |
| KEY BANK NA                                 | KeyBank NA/Cleveland OH                                                         | CUSIP: 49327M3E2<br>LEI: HUX2X73FUCYHUVH1BK78 | Long             | DBT              | CORP              | US        |    425000 | PA      | $424416.35    | 0.58%             | 2025-08-08      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| NUTRIEN LTD                                 | Nutrien Ltd                                                                     | CUSIP: 67077MAY4<br>LEI: 5493002QQ7GD21OWF963 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $100412.23    | 0.14%             | 2025-11-07      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Ford Credit Floorplan Master O              | Ford Credit Floorplan Master Owner Trust A                                      | CUSIP: 34528QHS6<br>LEI: 5493001DTG5N7T8BG747 | Long             | ABS-O            | CORP              | US        |    640000 | PA      | $632115.46    | 0.87%             | 2027-09-15      | Fixed         | 1.87%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR REMIC Trust 2023-DNA1                                         | CUSIP: 35564KP37<br>LEI: 5493000IRILHAKSCHN59 | Long             | ABS-MBS          | CORP              | US        |     75240 | PA      | $76513.09     | 0.10%             | 2043-03-25      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2024-R05                                    | CUSIP: 20754XAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    316000 | PA      | $317086.25    | 0.43%             | 2044-07-25      | Floating      | 6.01%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                     | Carmax Auto Owner Trust 2021-4                                                  | CUSIP: 14317JAG2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $98183.16     | 0.13%             | 2027-07-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                | Broadcom Inc                                                                    | CUSIP: 11135FCE9<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    500000 | PA      | $507268.43    | 0.70%             | 2028-04-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                           | HSBC Holdings PLC                                                               | CUSIP: 404280EF2<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    750000 | PA      | $764340.00    | 1.05%             | 2028-05-17      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| SYSTEM ENERGY RESOURCES                     | System Energy Resources Inc                                                     | CUSIP: 871911AU7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $312311.25    | 0.43%             | 2028-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SYNOPSYS INC                                | Synopsys Inc                                                                    | CUSIP: 871607AB3<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |    450000 | PA      | $454597.23    | 0.62%             | 2028-04-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | US 2YR NOTE (CBT)                                                               | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       120 | NC      | $101837.04    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| ONSLOW BAY FINANCIAL LLC                    | OBX 2025-NQM11 TRUST                                                            | CUSIP: 67449BAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    395000 | PA      | $395782.69    | 0.54%             | 2065-05-25      | Variable      | 5.42%                 | No            |                  2 | On Loan: No      |
| AXIS Equipment Finance Receiva              | Amur Equipment Finance Receivables X LLC                                        | CUSIP: 03236VAC5<br>LEI: 549300K5Y88MV8B4M421 | Long             | ABS-O            | CORP              | US        |    485001 | PA      | $483010.53    | 0.66%             | 2028-01-20      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                           | HSBC Holdings PLC                                                               | CUSIP: 404280BX6<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    750000 | PA      | $749311.92    | 1.03%             | 2026-09-12      | Fixed         | 4.29%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                            | Crown Castle Inc                                                                | CUSIP: 22822VAS0<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |    275000 | PA      | $274610.86    | 0.38%             | 2025-07-15      | Fixed         | 1.35%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                  | Verus Securitization Trust 2023-4                                               | CUSIP: 92539TAA1<br>LEI: 2138008DC17PCNG48R87 | Long             | ABS-MBS          | CORP              | US        |    270351 | PA      | $270285.65    | 0.37%             | 2068-05-25      | Variable      | 5.81%                 | No            |                  2 | On Loan: No      |
| ATHENE GLOBAL FUNDING                       | Athene Global Funding                                                           | CUSIP: 04685A3D1<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |    125000 | PA      | $120682.88    | 0.17%             | 2026-10-02      | Fixed         | 1.73%                 | No            |                  2 | On Loan: No      |
| DT Auto Owner Trust                         | DT Auto Owner Trust 2023-2                                                      | CUSIP: 23346CAG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    995000 | PA      | $1022451.91   | 1.40%             | 2029-02-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                | Broadcom Inc                                                                    | CUSIP: 11135FAN1<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    750000 | PA      | $742947.81    | 1.02%             | 2026-09-15      | Fixed         | 3.46%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA                    | Volkswagen Group of America Finance LLC                                         | CUSIP: 928668CA8<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    500000 | PA      | $508031.89    | 0.70%             | 2026-11-16      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust              | Carvana Auto Receivables Trust 2021-N4                                          | CUSIP: 14687HAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     85700 | PA      | $82468.01     | 0.11%             | 2028-09-11      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                          | Energy Transfer LP                                                              | CUSIP: 29273VAZ3<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    540000 | PA      | $553451.62    | 0.76%             | 2029-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| AXIS Equipment Finance Receiva              | Amur Equipment Finance Receivables XI LLC                                       | CUSIP: 03236XAD9<br>LEI: 549300IFG1NMINYRYF89 | Long             | ABS-O            | CORP              | US        |    675000 | PA      | $683380.52    | 0.94%             | 2029-01-22      | Fixed         | 6.27%                 | No            |                  2 | On Loan: No      |
| CNH INDUSTRIAL CAP LLC                      | CNH Industrial Capital LLC                                                      | CUSIP: 12592BAM6<br>LEI: 549300PNSJ5B81UMVO28 | Long             | DBT              | CORP              | US        |    300000 | PA      | $290563.61    | 0.40%             | 2026-07-15      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE SA                          | Credit Agricole SA                                                              | CUSIP: 22535WAH0<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |    540000 | PA      | $529751.16    | 0.73%             | 2027-01-26      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables               | Exeter Automobile Receivables Trust 2023-2                                      | CUSIP: 30168CAF5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    550000 | PA      | $559763.27    | 0.77%             | 2029-08-15      | Fixed         | 6.32%                 | No            |                  2 | On Loan: No      |
| Tricolor Auto Securitization T              | Tricolor Auto Securitization Trust 2024-1                                       | CUSIP: 89616LAD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    610000 | PA      | $626723.61    | 0.86%             | 2028-04-17      | Fixed         | 8.61%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                         | Charles Schwab Corp/The                                                         | CUSIP: 808513BZ7<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    390000 | PA      | $392701.99    | 0.54%             | 2027-03-03      | Floating      | 5.36%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables               | Exeter Automobile Receivables Trust 2024-4                                      | CUSIP: 30166UAE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    525000 | PA      | $530289.66    | 0.73%             | 2030-08-15      | Fixed         | 5.48%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                      | American Honda Finance Corp                                                     | CUSIP: 02665WFS5<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |    600000 | PA      | $599487.51    | 0.82%             | 2027-10-22      | Floating      | 5.04%                 | No            |                  2 | On Loan: No      |
| SOLVENTUM CORP                              | Solventum Corp                                                                  | CUSIP: 83444MAA9<br>LEI: 254900I70403OSGY4M28 | Long             | DBT              | CORP              | US        |    415000 | PA      | $420685.49    | 0.58%             | 2027-02-25      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                                   | Amgen Inc                                                                       | CUSIP: 031162DP2<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    375000 | PA      | $383103.37    | 0.53%             | 2028-03-02      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| SBNA Auto Receivables Trust                 | SBNA Auto Receivables Trust 2025-SF1                                            | CUSIP: 78437XAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    425000 | PA      | $425058.14    | 0.58%             | 2031-03-17      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust              | Carvana Auto Receivables Trust 2021-N3                                          | CUSIP: 14687GAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     85219 | PA      | $82352.25     | 0.11%             | 2028-06-12      | Fixed         | 1.58%                 | No            |                  2 | On Loan: No      |
| TSMC ARIZONA CORP                           | TSMC Arizona Corp                                                               | CUSIP: 872898AA9<br>LEI: 2549005GOBWLCSY63Q97 | Long             | DBT              | CORP              | US        |    200000 | PA      | $193464.80    | 0.27%             | 2026-10-25      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Ally Auto Receivables Trust                 | ALLY AUTO RECEIVABLES TRUST 2023-A                                              | CUSIP: 02008NAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    685000 | PA      | $694510.46    | 0.95%             | 2034-01-17      | Fixed         | 6.08%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl              | Santander Drive Auto Receivables Trust 2023-4                                   | CUSIP: 802927AE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    625000 | PA      | $632872.70    | 0.87%             | 2028-12-15      | Fixed         | 5.77%                 | No            |                  2 | On Loan: No      |
| Dell Equipment Finance Trust                | Dell Equipment Finance Trust 2024-1                                             | CUSIP: 24702GAL9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    750000 | PA      | $761119.22    | 1.04%             | 2030-09-23      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl              | Santander Drive Auto Receivables Trust 2022-2                                   | CUSIP: 80286MAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    750000 | PA      | $744804.87    | 1.02%             | 2029-07-16      | Fixed         | 3.76%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                    | OBX 2025-NQM10 Trust                                                            | CUSIP: 67121LAA4<br>LEI: 254900NDJVO62R77II89 | Long             | ABS-MBS          | CORP              | US        |    372814 | PA      | $373717.65    | 0.51%             | 2065-05-25      | Variable      | 5.45%                 | No            |                  2 | On Loan: No      |
| ACM Auto Trust                              | ACM Auto Trust 2023-2                                                           | CUSIP: 00161AAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    347475 | PA      | $353015.17    | 0.48%             | 2030-06-20      | Fixed         | 9.85%                 | No            |                  2 | On Loan: No      |
| PNC BANK NA                                 | PNC Bank NA                                                                     | CUSIP: 69353RFY9<br>LEI: AD6GFRVSDT01YPT1CS68 | Long             | DBT              | CORP              | US        |    460000 | PA      | $460362.11    | 0.63%             | 2027-05-13      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                     | Carmax Auto Owner Trust 2024-3                                                  | CUSIP: 14319GAG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    525000 | PA      | $533468.39    | 0.73%             | 2030-03-15      | Fixed         | 5.28%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                        | Bank of America Corp                                                            | CUSIP: 06051GLE7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    750000 | PA      | $752191.42    | 1.03%             | 2027-01-20      | Fixed         | 5.08%                 | 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        |    409932 | PA      | $411593.86    | 0.56%             | 2032-01-15      | Fixed         | 6.53%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables               | Exeter Automobile Receivables Trust 2023-1                                      | CUSIP: 30168BAF7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    750000 | PA      | $762654.05    | 1.05%             | 2029-06-15      | Fixed         | 6.69%                 | No            |                  2 | On Loan: No      |
| MACQUARIE AIRFINANCE HLD                    | Macquarie Airfinance Holdings Ltd                                               | CUSIP: 55609NAC2<br>LEI: 549300MCGUSL5B852H65 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $208901.29    | 0.29%             | 2029-03-26      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| INTL FLAVOR & FRAGRANCES                    | International Flavors & Fragrances Inc                                          | CUSIP: 459506AN1<br>LEI: BZLRL03D3GPGMOGFO832 | Long             | DBT              | CORP              | US        |     42000 | PA      | $41596.97     | 0.06%             | 2025-10-01      | Fixed         | 1.23%                 | No            |                  2 | On Loan: No      |
| APTIV SWISS HOLDINGS LTD                    | Aptiv Swiss Holdings Ltd                                                        | CUSIP: 03837AAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | JE        |    515000 | PA      | $513756.76    | 0.70%             | 2029-09-13      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Hyundai Auto Lease Securitizat              | Hyundai Auto Lease Securitization Trust 2024-B                                  | CUSIP: 44934FAF2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    700000 | PA      | $708823.48    | 0.97%             | 2028-08-15      | Fixed         | 5.56%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                    | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                       | CUSIP: 00774MBL8<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    255000 | PA      | $255069.24    | 0.35%             | 2029-09-10      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR REMIC Trust 2022-DNA3                                         | CUSIP: 35564KUW7<br>LEI: 5493000IS4M3TZMRB410 | Long             | ABS-MBS          | CORP              | US        |     95074 | PA      | $95995.26     | 0.13%             | 2042-04-25      | Floating      | 6.31%                 | No            |                  2 | On Loan: No      |
| Dell Equipment Finance Trust                | Dell Equipment Finance Trust 2024-1                                             | CUSIP: 24702GAJ4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    700000 | PA      | $708360.88    | 0.97%             | 2030-03-22      | Fixed         | 5.73%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC                                 | Freddie Mac REMICS                                                              | CUSIP: 31392TLZ8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       875 | PA      | $885.56       | 0.00%             | 2032-03-15      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl              | Santander Drive Auto Receivables Trust 2021-3                                   | CUSIP: 80287EAF2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    114498 | PA      | $114003.80    | 0.16%             | 2027-09-15      | Fixed         | 1.33%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QS5W7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    218222 | PA      | $225378.66    | 0.31%             | 2053-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BAKER HUGHES LLC/CO-OBL                     | Baker Hughes Holdings LLC / Baker Hughes Co-Obligor Inc                         | CUSIP: 05724BAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $96914.27     | 0.13%             | 2026-12-15      | Fixed         | 2.06%                 | No            |                  2 | On Loan: No      |
| Upstart Securitization Trust                | Upstart Securitization Trust                                                    | CUSIP: 91684NAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    425013 | PA      | $425789.75    | 0.58%             | 2034-11-20      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                         | JPMorgan Chase & Co                                                             | CUSIP: 46647PEA0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    175000 | PA      | $176878.26    | 0.24%             | 2028-01-23      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-25

**Name of Applicant:** RBC Funds Trust

**Signature:** Kathy Hegna

**Name of Signer:** Kathy Hegna

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