# EDGAR Filing Document

**Accession Number:** 0000831114
**File Stem:** 0001145549-25-049619
**Filing Date:** 2025-7
**Character Count:** 101471
**Document Hash:** df316c81271429ec62003b7cf806ba57
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-049619.hdr.sgml**: 20250729

**ACCESSION NUMBER**: 0001145549-25-049619

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250729

**DATE AS OF CHANGE**: 20250729

**PERIOD START**: 20250831

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05518
- **FILM NUMBER:** 251159503

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

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

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

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

## Series and Classes Contracts Data

### Boston Partners Long/Short Equity Fund (Series ID: S000001108)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000003001 | INSTITUTIONAL | BPLSX           |
| C000003002 | INVESTOR      | BPLEX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Boston Partners Long/Short Equity Fund** | **Boston Partners Long/Short Equity Fund** | **Boston Partners Long/Short Equity Fund** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **May 31, 2025 (Unaudited)** | **May 31, 2025 (Unaudited)** | **May 31, 2025 (Unaudited)** |
| **COMMON STOCKS - 97.5%** | **Shares** | **Value**  |
| **Communication Services - 4.0%** | **Communication Services - 4.0%** | |
| Alphabet, Inc. - Class A <sup>(a)</sup> | 8390 | $1440899 |
| DoubleDown Interactive Co. Ltd. - ADR <sup>(a)(b)</sup> | 23590 | 234956 |
| EverQuote, Inc. - Class A <sup>(b)</sup> | 13967 | 321939 |
| Gravity Co. Ltd. - ADR <sup>(b)</sup> | 7572 | 488091 |
| John Wiley & Sons, Inc. - Class A | 9059 | 354388 |
|  |  | 2840273 |
| **Consumer Discretionary - 11.5%** | **Consumer Discretionary - 11.5%** |  |
| Abercrombie & Fitch Co. - Class A <sup>(b)</sup> | 4311 | 338370 |
| Arcos Dorados Holdings, Inc. - Class A <sup>(a)</sup> | 122949 | 911052 |
| CarParts.com, Inc. <sup>(b)</sup> | 212435 | 186497 |
| Carriage Services, Inc. <sup>(a)</sup> | 17363 | 755291 |
| Cavco Industries, Inc. <sup>(b)</sup> | 1785 | 773967 |
| El Pollo Loco Holdings, Inc. <sup>(b)</sup> | 24170 | 253785 |
| Flutter Entertainment PLC <sup>(b)</sup> | 2422 | 612039 |
| Frontdoor, Inc. <sup>(b)</sup> | 17017 | 936105 |
| General Motors Co. | 7398 | 367015 |
| Italian Sea Group SPA | 36223 | 232965 |
| JD.com, Inc. - Class A | 27286 | 441573 |
| Leon's Furniture Ltd. | 14567 | 292433 |
| Perdoceo Education Corp. <sup>(a)(c)</sup> | 19384 | 659831 |
| Potbelly Corp. <sup>(a)(b)</sup> | 26609 | 283918 |
| Super Group SGHC Ltd. <sup>(a)</sup> | 129323 | 1130283 |
|  |  | 8175124 |
| **Consumer Staples - 4.9%** | **Consumer Staples - 4.9%** |  |
| British American Tobacco PLC - ADR <sup>(a)</sup> | 29670 | 1341084 |
| Coca-Cola Europacific Partners PLC | 3314 | 304192 |
| Lifevantage Corp. <sup>(c)</sup> | 19587 | 255610 |
| Lifeway Foods, Inc. <sup>(a)(b)</sup> | 22292 | 503688 |
| PriceSmart, Inc. | 5667 | 611923 |
| Turning Point Brands, Inc. | 6951 | 516598 |
|  |  | 3533095 |
| **Energy - 3.7%** | **Energy - 3.7%** |  |
| Canadian Natural Resources Ltd. <sup>(a)</sup> | 23128 | 702398 |
| Coterra Energy, Inc. <sup>(c)</sup> | 11186 | 271932 |
| Peabody Energy Corp. <sup>(a)(c)</sup> | 33427 | 439899 |
| Schlumberger Ltd. | 9164 | 302870 |
| Solaris Energy Infrastructure, Inc. <sup>(a)(c)</sup> | 21370 | 586179 |
| South Bow Corp. <sup>(c)</sup> | 12132 | 315432 |
|  |  | 2618710 |
| **Financials - 23.2%** | **Financials - 23.2%** |  |
| Acadian Asset Management, Inc. | 23619 | 711168 |
| American Integrity Insurance Group, Inc. <sup>(b)(c)</sup> | 21699 | 359552 |
| Banco Bilbao Vizcaya Argentaria SA - ADR <sup>(a)(c)</sup> | 53458 | 804008 |
| Bank of America Corp. <sup>(a)</sup> | 18534 | 817905 |
| BGC Group, Inc. - Class A <sup>(a)</sup> | 152823 | 1418197 |
| Block, Inc. <sup>(b)</sup> | 6545 | 404154 |
| Citigroup, Inc. <sup>(a)</sup> | 12030 | 906100 |
| Crawford & Co. - Class A <sup>(a)</sup> | 17692 | 183820 |
| Fairfax Financial Holdings Ltd. <sup>(c)</sup> | 1010 | 1709439 |
| Fidelis Insurance Holdings Ltd. <sup>(a)</sup> | 20064 | 350719 |
| Fidelity National Information Services, Inc. | 5918 | 471132 |
| Greenlight Capital Re Ltd. - Class A <sup>(a)(b)</sup> | 33064 | 477444 |
| Hamilton Insurance Group Ltd. - Class B <sup>(b)</sup> | 36776 | 800246 |
| Heritage Insurance Holdings, Inc. <sup>(a)(b)</sup> | 21395 | 523536 |
| Intercorp Financial Services, Inc. | 10673 | 369393 |
| International General Insurance Holdings Ltd. <sup>(a)</sup> | 18295 | 427005 |
| Jefferies Financial Group, Inc. <sup>(a)</sup> | 4482 | 217825 |
| KB Financial Group, Inc. - ADR | 14036 | 1049191 |
| Lincoln National Corp. | 10472 | 347042 |
| Merchants Bancorp | 6836 | 218889 |
| Northeast Bank | 3914 | 328111 |
| Northeast Community Bancorp, Inc. | 12304 | 278317 |
| Oppenheimer Holdings, Inc. - Class A | 7046 | 460033 |
| Rithm Capital Corp. <sup>(a)</sup> | 45515 | 507492 |
| Shift4 Payments, Inc. - Class A <sup>(b)(c)</sup> | 4979 | 471959 |
| Stifel Financial Corp. <sup>(a)</sup> | 6693 | 630615 |
| Wells Fargo & Co. <sup>(a)</sup> | 10639 | 795584 |
| Willis Towers Watson PLC | 1447 | 458048 |
|  |  | 16496924 |
| **Health Care - 12.0%** | **Health Care - 12.0%** |  |
| AstraZeneca PLC - ADR <sup>(c)</sup> | 9207 | 670546 |
| Bristol-Myers Squibb Co. | 11788 | 569125 |
| Catalyst Pharmaceuticals, Inc. <sup>(a)(b)</sup> | 52042 | 1298968 |
| Centene Corp. <sup>(b)</sup> | 6228 | 351508 |
| Cigna Group <sup>(a)</sup> | 1464 | 463561 |
| Harmony Biosciences Holdings, Inc. <sup>(b)</sup> | 10525 | 363112 |
| HCA Healthcare, Inc. <sup>(a)</sup> | 1224 | 466821 |
| Jazz Pharmaceuticals PLC <sup>(b)</sup> | 5383 | 581741 |
| Johnson & Johnson <sup>(a)</sup> | 5599 | 869021 |
| Lantheus Holdings, Inc. <sup>(b)(c)</sup> | 8449 | 638406 |
| Medtronic PLC <sup>(a)</sup> | 8255 | 685000 |
| Novartis AG - ADR <sup>(c)</sup> | 5116 | 592228 |
| Sandoz Group AG - ADR | 6559 | 332148 |
| UnitedHealth Group, Inc. | 2104 | 635219 |
|  |  | 8517404 |
| **Industrials - 12.7%** | **Industrials - 12.7%** |  |
| Barrett Business Services, Inc. <sup>(a)</sup> | 21472 | 887331 |
| Brady Corp. - Class A | 4021 | 280545 |
| Broadcom, Inc. | 4146 | 1003622 |
| Builders FirstSource, Inc. <sup>(a)(b)(c)</sup> | 3001 | 323148 |
| CACI International, Inc. - Class A <sup>(b)(c)</sup> | 856 | 366368 |
| Euroseas Ltd. | 8220 | 315073 |
| Everus Construction Group, Inc. <sup>(b)</sup> | 10134 | 586860 |
| Fiverr International Ltd. <sup>(b)(c)</sup> | 22614 | 733146 |
| Galliford Try Holdings PLC | 249946 | 1382908 |
| Lyft, Inc. - Class A <sup>(a)(b)</sup> | 24339 | 370926 |
| NEXTracker, Inc. - Class A <sup>(b)</sup> | 4987 | 282713 |
| Quanta Services, Inc. <sup>(a)</sup> | 1181 | 404563 |
| RCM Technologies, Inc. <sup>(b)</sup> | 12636 | 289238 |
| Sterling Infrastructure, Inc. <sup>(a)(b)</sup> | 6617 | 1244062 |
| Uber Technologies, Inc. <sup>(b)</sup> | 6725 | 565976 |
|  |  | 9036479 |
| **Information Technology - 18.1%** | **Information Technology - 18.1%** |  |
| Adeia, Inc. <sup>(a)</sup> | 53353 | 685053 |
| Check Point Software Technologies Ltd. <sup>(b)</sup> | 1809 | 414044 |
| Cognizant Technology Solutions Corp. - Class A <sup>(a)</sup> | 8863 | 717814 |
| Dell Technologies, Inc. - Class C | 5864 | 652487 |
| Hackett Group, Inc. <sup>(a)</sup> | 24129 | 591643 |
| InterDigital, Inc. | 4658 | 1011997 |
| LiveRamp Holdings, Inc. <sup>(b)</sup> | 12648 | 412072 |
| Microchip Technology, Inc. | 2783 | 161525 |
| Nice Ltd. - ADR <sup>(b)(c)</sup> | 4029 | 668532 |
| Open Text Corp. <sup>(a)(c)</sup> | 26178 | 741099 |
| Oracle Corp. <sup>(a)</sup> | 2725 | 451069 |
| Photronics, Inc. <sup>(a)(b)</sup> | 36230 | 605403 |
| QUALCOMM, Inc. <sup>(a)</sup> | 1747 | 253665 |
| Rimini Street, Inc. <sup>(a)(b)</sup> | 122457 | 373494 |
| RingCentral, Inc. - Class A <sup>(a)(b)</sup> | 33569 | 870444 |
| Samsung Electronics Co., Ltd. | 16366 | 664095 |
| Silicon Motion Technology Corp. - ADR | 4587 | 280725 |
| TeamViewer SE <sup>(b)(d)</sup> | 102044 | 1190000 |
| Telefonaktiebolaget LM Ericsson - ADR <sup>(a)(c)</sup> | 92358 | 781349 |
| Twilio, Inc. - Class A <sup>(b)</sup> | 11333 | 1333894 |
|  |  | 12860404 |
| **Materials - 3.4%** | **Materials - 3.4%** |  |
| Ferroglobe PLC <sup>(a)</sup> | 143804 | 522009 |
| Glencore PLC - ADR <sup>(a)</sup> | 41326 | 314491 |
| Mosaic Co. | 17975 | 649617 |
| Pan American Silver Corp. | 14144 | 344972 |
| Taseko Mines Ltd. <sup>(a)(b)(c)</sup> | 133318 | 297299 |
| Ternium SA - ADR <sup>(a)</sup> | 10217 | 279741 |
|  |  | 2408129 |
| **Real Estate - 3.0%** | **Real Estate - 3.0%** |  |
| CTO Realty Growth, Inc. | 21661 | 398996 |
| Newmark Group, Inc. - Class A <sup>(a)(c)</sup> | 83130 | 915261 |
| Park Hotels & Resorts, Inc. <sup>(a)</sup> | 41755 | 432582 |
| Pebblebrook Hotel Trust <sup>(a)</sup> | 42567 | 390765 |
|  |  | 2137604 |
| **Utilities - 1.0%** | **Utilities - 1.0%** |  |
| NRG Energy, Inc. | 4582 | 714334 |
| **TOTAL COMMON STOCKS** (Cost $50,561,908) | **TOTAL COMMON STOCKS** (Cost $50,561,908) | 69338480 |
| **SHORT-TERM INVESTMENTS - 10.3%** |  | **Value**  |
| **Investments Purchased with Proceeds from Securities Lending - 10.3%** | **<u>Units</u>** |  |
| Mount Vernon Liquid Assets Portfolio, LLC, 4.45% <sup>(e)</sup> | 7323596 | 7323596 |
| **Money Market Funds - 0.0%<sup>(f)</sup>** | **<u>Shares</u>** |  |
| BlackRock Liquidity Funds Treasury Trust Fund Portfolio - Class Institutional, 4.18% <sup>(a)(e)</sup> | 588 | 588 |
| Federated Hermes U.S. Treasury Cash Reserves - Class Institutional, 4.09% <sup>(a)(e)</sup> | 587 | 587 |
| Fidelity Treasury Portfolio - Class I, 4.19% <sup>(a)(e)</sup> | 588 | 588 |
| Goldman Sachs Financial Square Funds - Treasury Instruments Fund - Class Institutional, 4.15% <sup>(a)(e)</sup> | 587 | 587 |
|  |  | 2350 |
| **TOTAL SHORT-TERM INVESTMENTS** (Cost $7,325,946) | **TOTAL SHORT-TERM INVESTMENTS** (Cost $7,325,946) | 7325946 |
| **TOTAL INVESTMENTS - 107.8% (**Cost $57,887,854**)** | **TOTAL INVESTMENTS - 107.8% (**Cost $57,887,854**)** | 76664426 |
| Liabilities in Excess of Other Assets - (7.8)% | Liabilities in Excess of Other Assets - (7.8)% | (5525343) |
| **TOTAL NET ASSETS - 100.0%** |  | $71139083 |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |  |
| The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. | The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. | The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. |
| More narrow industries are utilized for compliance purposes, whereas broad sectors are utilized for reporting purposes. | More narrow industries are utilized for compliance purposes, whereas broad sectors are utilized for reporting purposes. | More narrow industries are utilized for compliance purposes, whereas broad sectors are utilized for reporting purposes. |

---

ADR - American Depositary Receipt <br> LLC - Limited Liability Company <br> PLC - Public Limited Company

(a) All or a portion of security has been pledged as collateral for securities sold short. The fair value of assets committed as collateral as of May 31, 2025 is $28,890,464.

(b) Non-income producing security.

(c) All or a portion of this security is on loan as of May 31, 2025. The fair value of these securities was $7,165,715.

(d) Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified
 institutional investors. As of May 31, 2025, the value of these securities total $1,190,000 or 1.7% of the Fund's net assets.

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

(f) Represents less than 0.05% of net assets.

---

| | | |
|:---|:---|:---|
| **Boston Partners Long/Short Equity Fund** | **Boston Partners Long/Short Equity Fund** | **Boston Partners Long/Short Equity Fund** |
| **Schedule of Securities Sold Short** | **Schedule of Securities Sold Short** | **Schedule of Securities Sold Short** |
| **May 31, 2025 (Unaudited)** | **May 31, 2025 (Unaudited)** | **May 31, 2025 (Unaudited)** |
| **COMMON STOCKS** - **(22.1)%** | **Shares** | **Value** |
| **Communication Services - (1.4)%** | **Communication Services - (1.4)%** | |
| Boston Omaha Corp. - Class A | (12223) | $(179678) |
| Clear Channel Outdoor Holdings, Inc. | (193522) | (207069) |
| CTC Communications Group, Inc. <sup>(a)</sup> | (98900) | 0 |
| Grindr, Inc. | (8779) | (214383) |
| Ibotta, Inc. - Class A | (4462) | (223055) |
| Lionsgate Studios Corp. | (21573) | (155973) |
|  |  | (980158) |
| **Consumer Discretionary - (4.5)%** | **Consumer Discretionary - (4.5)%** |  |
| Acushnet Holdings Corp. | (3717) | (253648) |
| Brunello Cucinelli SpA | (1633) | (201253) |
| Brunswick Corp. | (4105) | (207795) |
| Cava Group, Inc. | (2189) | (177900) |
| First Watch Restaurant Group, Inc. | (16068) | (248090) |
| Five Below, Inc. | (2189) | (255172) |
| Floor & Decor Holdings, Inc. - Class A | (3821) | (273927) |
| Goodyear Tire & Rubber Co. | (19335) | (220612) |
| Groupon, Inc. | (14117) | (411228) |
| Kura Sushi USA, Inc. - Class A | (2278) | (150485) |
| Petco Health & Wellness Co., Inc. | (27594) | (101270) |
| Qsound Labs, Inc. <sup>(a)</sup> | (4440) | 0 |
| QuantumScape Corp. | (26231) | (104924) |
| Rivian Automotive, Inc. - Class A | (19293) | (280327) |
| Shake Shack, Inc., Class A - Class A | (2145) | (278400) |
|  |  | (3165031) |
| **Consumer Staples - (2.2)%** | **Consumer Staples - (2.2)%** |  |
| Amish Naturals, Inc. <sup>(a)</sup> | (25959) | 0 |
| Brown-Forman Corp. - Class B | (6839) | (228012) |
| Costco Wholesale Corp. | (279) | (290210) |
| Hershey Co. | (1535) | (246659) |
| Lancaster Colony Corp. | (1374) | (230008) |
| Mama's Creations, Inc. | (34272) | (284800) |
| Westrock Coffee Co. | (43471) | (299081) |
|  |  | (1578770) |
| **Energy - (0.3)%** | **Energy - (0.3)%** |  |
| Beard Co. | (9710) | 0 |
| Calumet, Inc. | (14137) | (197635) |
|  |  | (197635) |
| **Financials - (1.7)%** | **Financials - (1.7)%** |  |
| Bakkt Holdings, Inc. | (17111) | (199172) |
| Commonwealth Bank of Australia | (2560) | (290480) |
| Credit Acceptance Corp. | (632) | (301654) |
| Nelnet, Inc. - Class A | (1260) | (146387) |
| Remitly Global, Inc. | (13616) | (290838) |
|  |  | (1228531) |
| **Health Care - (2.2)%** | **Health Care - (2.2)%** |  |
| AirSculpt Technologies, Inc. | (19748) | (87089) |
| ARS Pharmaceuticals, Inc. | (10924) | (157633) |
| BodyTel Scientific, Inc. <sup>(a)</sup> | (4840) | (1) |
| CareView Communications, Inc. | (165489) | (2578) |
| Establishment Labs Holdings, Inc. | (5919) | (203732) |
| LifeStance Health Group, Inc. | (45054) | (267621) |
| PROCEPT BioRobotics Corp. | (5311) | (308038) |
| Stevanato Group SpA | (13054) | (289929) |
| TG Therapeutics, Inc. | (6390) | (224353) |
|  |  | (1540974) |
| **Industrials - (3.1)%** | **Industrials - (3.1)%** |  |
| Ameresco, Inc. - Class A | (6243) | (86029) |
| Applied Energetics, Inc. | (59611) | (130548) |
| Corporate Resource Services, Inc. <sup>(a)</sup> | (218896) | (22) |
| Driven Brands Holdings, Inc. | (23231) | (413976) |
| DynaMotive Energy Systems Corp. <sup>(a)</sup> | (72185) | (7) |
| Ener1, Inc. <sup>(a)</sup> | (102820) | (10) |
| FTAI Infrastructure, Inc. | (30307) | (185176) |
| Hertz Global Holdings, Inc. | (43417) | (284381) |
| KULR Technology Group, Inc. | (97511) | (114088) |
| NANO Nuclear Energy, Inc. | (5702) | (171801) |
| Redwire Corp. | (24947) | (356992) |
| Richtech Robotics, Inc. - Class B | (126875) | (293081) |
| Sky Harbour Group Corp. | (16060) | (165418) |
| Valence Technology, Inc. <sup>(a)</sup> | (27585) | (3) |
|  |  | (2201532) |
| **Information Technology - (5.0)%** | **Information Technology - (5.0)%** |  |
| Amplitude, Inc. - Class A | (14999) | (185838) |
| ANTs software, Inc. <sup>(a)</sup> | (10334) | (1) |
| Atomera, Inc. | (39656) | (243884) |
| BigBear.ai Holdings, Inc. | (53028) | (220597) |
| Consygen, Inc. <sup>(a)</sup> | (200) | 0 |
| D-Wave Quantum, Inc. | (32668) | (533468) |
| Entegris, Inc. | (2700) | (185598) |
| Evolv Technologies Holdings, Inc. | (58458) | (319181) |
| Interliant, Inc. <sup>(a)</sup> | (600) | 0 |
| IonQ, Inc. | (14174) | (571779) |
| Lightwave Logic, Inc. | (59044) | (57863) |
| MicroVision, Inc. | (156541) | (172195) |
| Nestor, Inc. <sup>(a)</sup> | (15200) | (2) |
| NextNav, Inc. | (27226) | (341686) |
| Samsara, Inc. - Class A | (4574) | (212874) |
| SoundHound AI, Inc. - Class A | (23581) | (238404) |
| Sprout Social, Inc. - Class A | (8093) | (176670) |
| Tiger Telematics, Inc. <sup>(a)</sup> | (6510) | 0 |
| Tucows, Inc. - Class A | (5974) | (115896) |
| Uni-Pixel, Inc. <sup>(a)</sup> | (19665) | (2) |
| Worldgate Communications, Inc. <sup>(a)</sup> | (582655) | (58) |
| XRiver Corp. <sup>(a)</sup> | (34156) | 0 |
|  |  | (3575996) |
| **Materials - (1.7)%** | **Materials - (1.7)%** |  |
| PureCycle Technologies, Inc. | (30719) | (292138) |
| Radius Recycling, Inc. | (14133) | (418478) |
| TMC the metals co, Inc. | (116149) | (519186) |
|  |  | (1229802) |
| **TOTAL COMMON STOCKS** (Proceeds $18,058,435) | **TOTAL COMMON STOCKS** (Proceeds $18,058,435) | (15698429) |
| **TOTAL SECURITIES SOLD SHORT - (22.1)%** (Proceeds $18,058,435) |  | $(15698429) |
| Percentages are stated as a percent of net assets. |  |  |
| The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. | The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. | The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. |

---

(a) Fair value determined using significant unobservable inputs in accordance with procedures established by and under the supervision of the Adviser, acting as Valuation Designee. These securities
 represented $(106) or 0.0% of net assets as of May 31, 2025.

------

#### <br>

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

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

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| **Assets:** | | | | |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $65426939 | $3911541 | $– | $69338480 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Investments Purchased with Proceeds from Securities Lending<sup>(a)</sup> | – | – | – | 7323596 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 2350 | – | – | $2350 |
| Total Investments | $65429289 | $3911541 | $– | 76664426 |
| **Liabilities:** |  |  |  |  |
| <u>Investments:</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $(15206590) | $(491733) | $(106) | $(15698429) |
| Total Investments | $(15206590) | $(491733) | $(106) | $(15698429) |
| Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. |
| Changes in valuation techniques may result in transfers into or out of assigned levels within the fair value hierarchy. There were no significant transfers into or out of Level 3 during the reporting period as compared to the security classifications from the prior year's annual report. | Changes in valuation techniques may result in transfers into or out of assigned levels within the fair value hierarchy. There were no significant transfers into or out of Level 3 during the reporting period as compared to the security classifications from the prior year's annual report. | Changes in valuation techniques may result in transfers into or out of assigned levels within the fair value hierarchy. There were no significant transfers into or out of Level 3 during the reporting period as compared to the security classifications from the prior year's annual report. | Changes in valuation techniques may result in transfers into or out of assigned levels within the fair value hierarchy. There were no significant transfers into or out of Level 3 during the reporting period as compared to the security classifications from the prior year's annual report. | Changes in valuation techniques may result in transfers into or out of assigned levels within the fair value hierarchy. There were no significant transfers into or out of Level 3 during the reporting period as compared to the security classifications from the prior year's annual report. |

---

(a) Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair
 value amount of $7,323,596 presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts listed in the Schedule of Investments.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53202

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

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

- **a. Name of Series:** Boston Partners Long/Short Equity Fund

- **b. EDGAR series identifier (if any):** S000001108

- **c. LEI of Series:** 5493002XWU4JZC2VK520

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $94361744.01

**Total Liabilities:** $23205261.18

**Net Assets:** $71156482.83

**Cash Not Reported:** $17183487.94

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000003001 | -1.87%               | 0.64%                | 2.77%                |
| Class ID C000003002 | -1.88%               | 0.64%                | 2.65%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $307973.01               | $-1808200.06                               |
| Month 2  | $1229492.34              | $-875790.27                                |
| Month 3  | $663251.40               | $1192227.73                                |

**Designated Index Information**

- **Index Name:** S&P 500 Index

- **Index Identifier:** SPX

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| BlackRock Liquidity Funds Trea            | BlackRock Liquidity Funds Treasury Trust Fund Portfolio          | CUSIP: 09248U551<br>LEI: 549300U5PI8CHFJM7202 | Long             | STIV             | RF                | US        |       588 | NS      | $587.54       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| BodyTel Scientific Inc                    | BodyTel Scientific Inc                                           | CUSIP: 097000103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -4840 | NS      | $-0.48        | -0.00%            |  |  |  | No            | 3                  | On Loan: No      |
| Boston Omaha Corp                         | Boston Omaha Corp                                                | CUSIP: 101044105<br>LEI: 54930002FEWTYF4YFF19 | Short            | EC               | CORP              | US        |    -12223 | NS      | $-179678.10   | -0.25%            |  |  |  | No            | 1                  | On Loan: No      |
| Brady Corp                                | Brady Corp                                                       | CUSIP: 104674106<br>LEI: 549300G2LEQOFQC8GY34 | Long             | EC               | CORP              | US        |      4021 | NS      | $280545.17    | 0.39%             |  |  |  | No            | 1                  | On Loan: No      |
| Bristol-Myers Squibb Co                   | Bristol-Myers Squibb Co                                          | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |     11788 | NS      | $569124.64    | 0.80%             |  |  |  | No            | 1                  | On Loan: No      |
| British American Tobacco PLC              | British American Tobacco PLC                                     | CUSIP: 110448107<br>LEI: 213800FKA5MF17RJKT63 | Long             | EC               | CORP              | GB        |     29670 | NS      | $1341084.00   | 1.88%             |  |  |  | No            | 1                  | On Loan: No      |
| Broadcom Inc                              | Broadcom Inc                                                     | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |      4146 | NS      | $1003622.22   | 1.41%             |  |  |  | No            | 1                  | On Loan: No      |
| Brown-Forman Corp                         | Brown-Forman Corp                                                | CUSIP: 115637209<br>LEI: 549300873K3LXF7ARU34 | Short            | EC               | CORP              | US        |     -6839 | NS      | $-228012.26   | -0.32%            |  |  |  | No            | 1                  | On Loan: No      |
| Abercrombie & Fitch Co                    | Abercrombie & Fitch Co                                           | CUSIP: 002896207<br>LEI: 5493000J7LL72TOGT983 | Long             | EC               | CORP              | US        |      4311 | NS      | $338370.39    | 0.48%             |  |  |  | No            | 1                  | On Loan: No      |
| Acushnet Holdings Corp                    | Acushnet Holdings Corp                                           | CUSIP: 005098108<br>LEI: 529900W5FI106H543E43 | Short            | EC               | CORP              | US        |     -3717 | NS      | $-253648.08   | -0.36%            |  |  |  | No            | 1                  | On Loan: No      |
| Adeia Inc                                 | Adeia Inc                                                        | CUSIP: 00676P107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     53353 | NS      | $685052.52    | 0.96%             |  |  |  | No            | 1                  | On Loan: No      |
| Brunswick Corp/DE                         | Brunswick Corp/DE                                                | CUSIP: 117043109<br>LEI: YM4O38W15AX4YLLQKU27 | Short            | EC               | CORP              | US        |     -4105 | NS      | $-207795.10   | -0.29%            |  |  |  | No            | 1                  | On Loan: No      |
| Builders FirstSource Inc                  | Builders FirstSource Inc                                         | CUSIP: 12008R107<br>LEI: 549300W0SKP6L3H7DP63 | Long             | EC               | CORP              | US        |      3001 | NS      | $323147.68    | 0.45%             |  |  |  | No            | 1                  | On Loan: —       |
| CACI International Inc                    | CACI International Inc                                           | CUSIP: 127190304<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | EC               | CORP              | US        |       856 | NS      | $366368.00    | 0.51%             |  |  |  | No            | 1                  | On Loan: —       |
| Calumet Inc                               | Calumet Inc                                                      | CUSIP: 131428104<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -14137 | NS      | $-197635.26   | -0.28%            |  |  |  | No            | 1                  | On Loan: No      |
| AirSculpt Technologies Inc                | AirSculpt Technologies Inc                                       | CUSIP: 009496100<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -19748 | NS      | $-87088.68    | -0.12%            |  |  |  | No            | 1                  | On Loan: No      |
| Alphabet Inc                              | Alphabet Inc                                                     | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      8390 | NS      | $1440898.60   | 2.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Ameresco Inc                              | Ameresco Inc                                                     | CUSIP: 02361E108<br>LEI: 529900NZXZGBCBXYY327 | Short            | EC               | CORP              | US        |     -6243 | NS      | $-86028.54    | -0.12%            |  |  |  | No            | 1                  | On Loan: No      |
| American Integrity Insurance G            | American Integrity Insurance Group Inc                           | CUSIP: 026948109<br>LEI: 529900Y2VOV2LYV4OK68 | Long             | EC               | CORP              | US        |     21699 | NS      | $359552.43    | 0.51%             |  |  |  | No            | 1                  | On Loan: —       |
| Canadian Natural Resources Ltd            | Canadian Natural Resources Ltd                                   | CUSIP: 136385101<br>LEI: 549300T15RIMIKZC5Q38 | Long             | EC               | CORP              | CA        |     23128 | NS      | $702397.36    | 0.99%             |  |  |  | No            | 1                  | On Loan: No      |
| CareView Communications Inc               | CareView Communications Inc                                      | CUSIP: 141743104<br>LEI: N/A                  | Short            | EC               | CORP              | US        |   -165489 | NS      | $-2578.32     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| Amish Naturals Inc                        | Amish Naturals Inc                                               | CUSIP: 031539109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -25959 | NS      | $0.00         | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| Amplitude Inc                             | Amplitude Inc                                                    | CUSIP: 03213A104<br>LEI: 984500EZ87C703978858 | Short            | EC               | CORP              | US        |    -14999 | NS      | $-185837.61   | -0.26%            |  |  |  | No            | 1                  | On Loan: No      |
| ANTs software inc                         | ANTs software inc                                                | CUSIP: 037271103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -10334 | NS      | $-1.03        | -0.00%            |  |  |  | No            | 3                  | On Loan: No      |
| Applied Energetics Inc                    | Applied Energetics Inc                                           | CUSIP: 03819M106<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -59611 | NS      | $-130548.09   | -0.18%            |  |  |  | No            | 1                  | On Loan: No      |
| Carriage Services Inc                     | Carriage Services Inc                                            | CUSIP: 143905107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17363 | NS      | $755290.50    | 1.06%             |  |  |  | No            | 1                  | On Loan: No      |
| CarParts.com Inc                          | CarParts.com Inc                                                 | CUSIP: 14427M107<br>LEI: 5493005FSRX4Y7E7H678 | Long             | EC               | CORP              | US        |    212435 | NS      | $186496.69    | 0.26%             |  |  |  | No            | 1                  | On Loan: No      |
| Block Inc                                 | Block Inc                                                        | CUSIP: 852234103<br>LEI: 549300OHIIUWSTIZME52 | Long             | EC               | CORP              | US        |      6545 | NS      | $404153.75    | 0.57%             |  |  |  | No            | 1                  | On Loan: No      |
| Brunello Cucinelli SpA                    | Brunello Cucinelli SpA                                           | CUSIP: N/A<br>LEI: 5493003CX2RZ0FOBH256       | Short            | EC               | CORP              | IT        |     -1633 | NS      | $-201252.49   | -0.28%            |  |  |  | No            | 2                  | On Loan: No      |
| Acadian Asset Management Inc              | Acadian Asset Management Inc                                     | CUSIP: 10948W103<br>LEI: 5493004FTLQNQTBOP608 | Long             | EC               | CORP              | US        |     23619 | NS      | $711168.09    | 1.00%             |  |  |  | No            | 1                  | On Loan: No      |
| ARS Pharmaceuticals Inc                   | ARS Pharmaceuticals Inc                                          | CUSIP: 82835W108<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -10924 | NS      | $-157633.32   | -0.22%            |  |  |  | No            | 1                  | On Loan: No      |
| Arcos Dorados Holdings Inc                | Arcos Dorados Holdings Inc                                       | CUSIP: N/A<br>LEI: 54930023P2MIZN13DQ85       | Long             | EC               | CORP              | UY        |    122949 | NS      | $911052.09    | 1.28%             |  |  |  | No            | 1                  | On Loan: No      |
| MicroVision Inc                           | MicroVision Inc                                                  | CUSIP: 594960304<br>LEI: 5299001A8NIHHA9KOY43 | Short            | EC               | CORP              | US        |   -156541 | NS      | $-172195.10   | -0.24%            |  |  |  | No            | 1                  | On Loan: No      |
| Microchip Technology Inc                  | Microchip Technology Inc                                         | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |      2783 | NS      | $161525.32    | 0.23%             |  |  |  | No            | 1                  | On Loan: No      |
| Mosaic Co/The                             | Mosaic Co/The                                                    | CUSIP: 61945C103<br>LEI: 2YD5STGSJNMUB7H76907 | Long             | EC               | CORP              | US        |     17975 | NS      | $649616.50    | 0.91%             |  |  |  | No            | 1                  | On Loan: No      |
| NANO Nuclear Energy Inc                   | NANO Nuclear Energy Inc                                          | CUSIP: 63010H108<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -5702 | NS      | $-171801.26   | -0.24%            |  |  |  | No            | 1                  | On Loan: No      |
| Nelnet Inc                                | Nelnet Inc                                                       | CUSIP: 64031N108<br>LEI: 549300T6B0Q52I6OM558 | Short            | EC               | CORP              | US        |     -1260 | NS      | $-146386.80   | -0.21%            |  |  |  | No            | 1                  | On Loan: No      |
| Mount Vernon Liquid Assets Portfolio, LLC | Mount Vernon Liquid Assets Portfolio, LLC                        | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |   7323596 | NS      | $7323596.25   | 10.29%            |  |  |  | No            | N/A                | On Loan: No      |
| Coterra Energy Inc                        | Coterra Energy Inc                                               | CUSIP: 127097103<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | EC               | CORP              | US        |     11186 | NS      | $271931.66    | 0.38%             |  |  |  | No            | 1                  | On Loan: —       |
| Consygen Inc                              | Consygen Inc                                                     | CUSIP: 210728101<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -200 | NS      | $0.00         | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| Corporate Resource Services In            | Corporate Resource Services Inc                                  | CUSIP: 22004Y105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |   -218896 | NS      | $-21.89       | -0.00%            |  |  |  | No            | 3                  | On Loan: No      |
| Costco Wholesale Corp                     | Costco Wholesale Corp                                            | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Short            | EC               | CORP              | US        |      -279 | NS      | $-290210.22   | -0.41%            |  |  |  | No            | 1                  | On Loan: No      |
| Pebblebrook Hotel Trust                   | Pebblebrook Hotel Trust                                          | CUSIP: 70509V100<br>LEI: 5493004Q1NNH6JXCSI52 | Long             | EC               | CORP              | US        |     42567 | NS      | $390765.06    | 0.55%             |  |  |  | No            | 1                  | On Loan: No      |
| Perdoceo Education Corp                   | Perdoceo Education Corp                                          | CUSIP: 71363P106<br>LEI: 529900X5PCA184O9LY90 | Long             | EC               | CORP              | US        |     19384 | NS      | $659831.36    | 0.93%             |  |  |  | No            | 1                  | On Loan: —       |
| Petco Health & Wellness Co Inc            | Petco Health & Wellness Co Inc                                   | CUSIP: 71601V105<br>LEI: 2549007TYGV6RVSE9M61 | Short            | EC               | CORP              | US        |    -27594 | NS      | $-101269.98   | -0.14%            |  |  |  | No            | 1                  | On Loan: No      |
| Photronics Inc                            | Photronics Inc                                                   | CUSIP: 719405102<br>LEI: 549300OK5JVNIBNY6F63 | Long             | EC               | CORP              | US        |     36230 | NS      | $605403.30    | 0.85%             |  |  |  | No            | 1                  | On Loan: No      |
| Fidelity Treasury Portfolio               | Fidelity Treasury Portfolio                                      | CUSIP: 316175504<br>LEI: N/A                  | Long             | STIV             | RF                | US        |       588 | NS      | $587.55       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Fidelity National Information             | Fidelity National Information Services Inc                       | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | EC               | CORP              | US        |      5918 | NS      | $471131.98    | 0.66%             |  |  |  | No            | 1                  | On Loan: No      |
| First Watch Restaurant Group I            | First Watch Restaurant Group Inc                                 | CUSIP: 33748L101<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -16068 | NS      | $-248089.92   | -0.35%            |  |  |  | No            | 1                  | On Loan: No      |
| Five Below Inc                            | Five Below Inc                                                   | CUSIP: 33829M101<br>LEI: 529900AAXP5Z6BGI7418 | Short            | EC               | CORP              | US        |     -2189 | NS      | $-255171.73   | -0.36%            |  |  |  | No            | 1                  | On Loan: No      |
| Floor & Decor Holdings Inc                | Floor & Decor Holdings Inc                                       | CUSIP: 339750101<br>LEI: 549300M5FR3N688XGQ36 | Short            | EC               | CORP              | US        |     -3821 | NS      | $-273927.49   | -0.38%            |  |  |  | No            | 1                  | On Loan: No      |
| Frontdoor Inc                             | Frontdoor Inc                                                    | CUSIP: 35905A109<br>LEI: 5493008RB0JZJI3QGZ06 | Long             | EC               | CORP              | US        |     17017 | NS      | $936105.17    | 1.32%             |  |  |  | No            | 1                  | On Loan: No      |
| FTAI Infrastructure Inc                   | FTAI Infrastructure Inc                                          | CUSIP: 35953C106<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -30307 | NS      | $-185175.77   | -0.26%            |  |  |  | No            | 1                  | On Loan: No      |
| General Motors Co                         | General Motors Co                                                | CUSIP: 37045V100<br>LEI: 54930070NSV60J38I987 | Long             | EC               | CORP              | US        |      7398 | NS      | $367014.78    | 0.52%             |  |  |  | No            | 1                  | On Loan: No      |
| Glencore PLC                              | Glencore PLC                                                     | CUSIP: 37827X100<br>LEI: 2138002658CPO9NBH955 | Long             | EC               | CORP              | CH        |     41326 | NS      | $314490.86    | 0.44%             |  |  |  | No            | 1                  | On Loan: No      |
| Goldman Sachs Financial Square            | Goldman Sachs Financial Square Funds - Treasury Instruments Fund | CUSIP: 38142B500<br>LEI: 549300DAH6N80PM31E83 | Long             | STIV             | RF                | US        |       588 | NS      | $587.54       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Goodyear Tire & Rubber Co/The             | Goodyear Tire & Rubber Co/The                                    | CUSIP: 382550101<br>LEI: 5493002BI0S2ZQUY3437 | Short            | EC               | CORP              | US        |    -19335 | NS      | $-220612.35   | -0.31%            |  |  |  | No            | 1                  | On Loan: No      |
| Gravity Co Ltd                            | Gravity Co Ltd                                                   | CUSIP: 38911N206<br>LEI: 529900NZDBA9C6G28L55 | Long             | EC               | CORP              | KR        |      7572 | NS      | $488091.12    | 0.69%             |  |  |  | No            | 1                  | On Loan: No      |
| Grindr Inc                                | Grindr Inc                                                       | CUSIP: 39854F101<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -8779 | NS      | $-214383.18   | -0.30%            |  |  |  | No            | 1                  | On Loan: No      |
| Groupon Inc                               | Groupon Inc                                                      | CUSIP: 399473206<br>LEI: 5299005W5W1R5POQJL03 | Short            | EC               | CORP              | US        |    -14117 | NS      | $-411228.21   | -0.58%            |  |  |  | No            | 1                  | On Loan: No      |
| HCA Healthcare Inc                        | HCA Healthcare Inc                                               | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |      1224 | NS      | $466821.36    | 0.66%             |  |  |  | No            | 1                  | On Loan: No      |
| Hackett Group Inc/The                     | Hackett Group Inc/The                                            | CUSIP: 404609109<br>LEI: 5K016KLIRB6156644289 | Long             | EC               | CORP              | US        |     24129 | NS      | $591643.08    | 0.83%             |  |  |  | No            | 1                  | On Loan: No      |
| Harmony Biosciences Holdings I            | Harmony Biosciences Holdings Inc                                 | CUSIP: 413197104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10525 | NS      | $363112.50    | 0.51%             |  |  |  | No            | 1                  | On Loan: No      |
| Heritage Insurance Holdings In            | Heritage Insurance Holdings Inc                                  | CUSIP: 42727J102<br>LEI: 9845008CCYDD87F66B45 | Long             | EC               | CORP              | US        |     21395 | NS      | $523535.65    | 0.74%             |  |  |  | No            | 1                  | On Loan: No      |
| Hershey Co/The                            | Hershey Co/The                                                   | CUSIP: 427866108<br>LEI: 21X2CX66SU2BR6QTAD08 | Short            | EC               | CORP              | US        |     -1535 | NS      | $-246659.15   | -0.35%            |  |  |  | No            | 1                  | On Loan: No      |
| Hertz Global Holdings Inc                 | Hertz Global Holdings Inc                                        | CUSIP: 42806J700<br>LEI: 549300NBK3K85MH1EX16 | Short            | EC               | CORP              | US        |    -43417 | NS      | $-284381.35   | -0.40%            |  |  |  | No            | 1                  | On Loan: No      |
| Ibotta Inc                                | Ibotta Inc                                                       | CUSIP: 451051106<br>LEI: 54930026OZD4IQ7YR615 | Short            | EC               | CORP              | US        |     -4462 | NS      | $-223055.38   | -0.31%            |  |  |  | No            | 1                  | On Loan: No      |
| InterDigital Inc                          | InterDigital Inc                                                 | CUSIP: 45867G101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4658 | NS      | $1011997.08   | 1.42%             |  |  |  | No            | 1                  | On Loan: No      |
| Interliant Inc                            | Interliant Inc                                                   | CUSIP: 458742103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -600 | NS      | $0.00         | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| IonQ Inc                                  | IonQ Inc                                                         | CUSIP: 46222L108<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -14174 | NS      | $-571779.16   | -0.80%            |  |  |  | No            | 1                  | On Loan: No      |
| Jefferies Financial Group Inc             | Jefferies Financial Group Inc                                    | CUSIP: 47233W109<br>LEI: 549300HOF34RGOJ5YL07 | Long             | EC               | CORP              | US        |      4482 | NS      | $217825.20    | 0.31%             |  |  |  | No            | 1                  | On Loan: No      |
| Johnson & Johnson                         | Johnson & Johnson                                                | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |      5599 | NS      | $869020.79    | 1.22%             |  |  |  | No            | 1                  | On Loan: No      |
| KB Financial Group Inc                    | KB Financial Group Inc                                           | CUSIP: 48241A105<br>LEI: 529900TKE4MXG3Q6GW86 | Long             | EC               | CORP              | KR        |     14036 | NS      | $1049191.00   | 1.47%             |  |  |  | No            | 1                  | On Loan: No      |
| QuantumScape Corp                         | QuantumScape Corp                                                | CUSIP: 74767V109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -26231 | NS      | $-104924.00   | -0.15%            |  |  |  | No            | 1                  | On Loan: No      |
| RCM Technologies Inc                      | RCM Technologies Inc                                             | CUSIP: 749360400<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12636 | NS      | $289238.04    | 0.41%             |  |  |  | No            | 1                  | On Loan: No      |
| Redwire Corp                              | Redwire Corp                                                     | CUSIP: 75776W103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -24947 | NS      | $-356991.57   | -0.50%            |  |  |  | No            | 1                  | On Loan: No      |
| Remitly Global Inc                        | Remitly Global Inc                                               | CUSIP: 75960P104<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -13616 | NS      | $-290837.76   | -0.41%            |  |  |  | No            | 1                  | On Loan: No      |
| Radius Recycling Inc                      | Radius Recycling Inc                                             | CUSIP: 806882106<br>LEI: 549300F62TK8VRDSM285 | Short            | EC               | CORP              | US        |    -14133 | NS      | $-418478.13   | -0.59%            |  |  |  | No            | 1                  | On Loan: No      |
| John Wiley & Sons Inc                     | John Wiley & Sons Inc                                            | CUSIP: 968223206<br>LEI: 5493003XM719UN7E8P64 | Long             | EC               | CORP              | US        |      9059 | NS      | $354388.08    | 0.50%             |  |  |  | No            | 1                  | On Loan: No      |
| Worldgate Communications Inc              | Worldgate Communications Inc                                     | CUSIP: 98156L307<br>LEI: N/A                  | Short            | EC               | CORP              | US        |   -582655 | NS      | $-58.27       | -0.00%            |  |  |  | No            | 3                  | On Loan: No      |
| XRiver Corp                               | XRiver Corp                                                      | CUSIP: 984149104<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -34156 | NS      | $0.00         | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| JD.com Inc                                | JD.com Inc                                                       | CUSIP: G8208B101<br>LEI: 549300HVTWB0GJZ16V92 | Long             | EC               | CORP              | CN        |     27286 | NS      | $441572.89    | 0.62%             |  |  |  | No            | 2                  | On Loan: No      |
| Galliford Try Holdings PLC                | Galliford Try Holdings PLC                                       | CUSIP: N/A<br>LEI: 213800MR6DRHCJIV8113       | Long             | EC               | CORP              | GB        |    249946 | NS      | $1382908.25   | 1.94%             |  |  |  | No            | 2                  | On Loan: No      |
| Italian Sea Group SPA/The                 | Italian Sea Group SPA/The                                        | CUSIP: N/A<br>LEI: 8156007833AB49068789       | Long             | EC               | CORP              | IT        |     36223 | NS      | $232964.47    | 0.33%             |  |  |  | No            | 2                  | On Loan: No      |
| Fidelis Insurance Holdings Ltd            | Fidelis Insurance Holdings Ltd                                   | CUSIP: N/A<br>LEI: 549300CDMGCAGJQ7DX03       | Long             | EC               | CORP              | BM        |     20064 | NS      | $350718.72    | 0.49%             |  |  |  | No            | 1                  | On Loan: No      |
| Flutter Entertainment PLC                 | Flutter Entertainment PLC                                        | CUSIP: N/A<br>LEI: 635400EG4YIJLJMZJ782       | Long             | EC               | CORP              | US        |      2422 | NS      | $612039.40    | 0.86%             |  |  |  | No            | 1                  | On Loan: No      |
| Greenlight Capital Re Ltd                 | Greenlight Capital Re Ltd                                        | CUSIP: N/A<br>LEI: 549300Q9HRIFA2BGHJ51       | Long             | EC               | CORP              | KY        |     33064 | NS      | $477444.16    | 0.67%             |  |  |  | No            | 1                  | On Loan: No      |
| Hamilton Insurance Group Ltd              | Hamilton Insurance Group Ltd                                     | CUSIP: N/A<br>LEI: 549300W92BN1FIEXG871       | Long             | EC               | CORP              | BM        |     36776 | NS      | $800245.76    | 1.12%             |  |  |  | No            | 1                  | On Loan: No      |
| International General Insuranc            | International General Insurance Holdings Ltd                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JO        |     18295 | NS      | $427005.30    | 0.60%             |  |  |  | No            | 1                  | On Loan: No      |
| Jazz Pharmaceuticals PLC                  | Jazz Pharmaceuticals PLC                                         | CUSIP: N/A<br>LEI: 635400GAUMJCLEZRRV50       | Long             | EC               | CORP              | IE        |      5383 | NS      | $581740.81    | 0.82%             |  |  |  | No            | 1                  | On Loan: No      |
| Fiverr International Ltd                  | Fiverr International Ltd                                         | CUSIP: N/A<br>LEI: 549300Z8OREY6THCPF67       | Long             | EC               | CORP              | IL        |     22614 | NS      | $733145.88    | 1.03%             |  |  |  | No            | 1                  | On Loan: —       |
| Intercorp Financial Services I            | Intercorp Financial Services Inc                                 | CUSIP: N/A<br>LEI: 5299004181WFTEWB1398       | Long             | EC               | CORP              | PE        |     10673 | NS      | $369392.53    | 0.52%             |  |  |  | No            | 1                  | On Loan: No      |
| Cigna Group/The                           | Cigna Group/The                                                  | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |      1464 | NS      | $463560.96    | 0.65%             |  |  |  | No            | 1                  | On Loan: No      |
| CTC Communications Group Inc              | CTC Communications Group Inc                                     | CUSIP: 126419100<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -98900 | NS      | $0.00         | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| Catalyst Pharmaceuticals Inc              | Catalyst Pharmaceuticals Inc                                     | CUSIP: 14888U101<br>LEI: 5299004O0R5XXLA5H544 | Long             | EC               | CORP              | US        |     52042 | NS      | $1298968.32   | 1.83%             |  |  |  | No            | 1                  | On Loan: No      |
| Cava Group Inc                            | Cava Group Inc                                                   | CUSIP: 148929102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -2189 | NS      | $-177900.03   | -0.25%            |  |  |  | No            | 1                  | On Loan: No      |
| Cavco Industries Inc                      | Cavco Industries Inc                                             | CUSIP: 149568107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1785 | NS      | $773967.08    | 1.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Centene Corp                              | Centene Corp                                                     | CUSIP: 15135B101<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | EC               | CORP              | US        |      6228 | NS      | $351508.32    | 0.49%             |  |  |  | No            | 1                  | On Loan: No      |
| Citigroup Inc                             | Citigroup Inc                                                    | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |     12030 | NS      | $906099.60    | 1.27%             |  |  |  | No            | 1                  | On Loan: No      |
| Clear Channel Outdoor Holdings            | Clear Channel Outdoor Holdings Inc                               | CUSIP: 18453H106<br>LEI: N/A                  | Short            | EC               | CORP              | US        |   -193522 | NS      | $-207068.54   | -0.29%            |  |  |  | No            | 1                  | On Loan: No      |
| Cognizant Technology Solutions            | Cognizant Technology Solutions Corp                              | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |      8863 | NS      | $717814.37    | 1.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Crawford & Co                             | Crawford & Co                                                    | CUSIP: 224633206<br>LEI: 7TZZFJ2GPOGLWIKIXY82 | Long             | EC               | CORP              | US        |     17692 | NS      | $183819.88    | 0.26%             |  |  |  | No            | 1                  | On Loan: No      |
| Credit Acceptance Corp                    | Credit Acceptance Corp                                           | CUSIP: 225310101<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -632 | NS      | $-301653.60   | -0.42%            |  |  |  | No            | 1                  | On Loan: No      |
| CTO Realty Growth Inc                     | CTO Realty Growth Inc                                            | CUSIP: 22948Q101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21661 | NS      | $398995.62    | 0.56%             |  |  |  | No            | 1                  | On Loan: No      |
| Dell Technologies Inc                     | Dell Technologies Inc                                            | CUSIP: 24703L202<br>LEI: 549300TJB5YBRUPOG437 | Long             | EC               | CORP              | US        |      5864 | NS      | $652487.28    | 0.92%             |  |  |  | No            | 1                  | On Loan: No      |
| DoubleDown Interactive Co Ltd             | DoubleDown Interactive Co Ltd                                    | CUSIP: 25862B109<br>LEI: 549300QDTNGJYJ49CP60 | Long             | EC               | CORP              | KR        |     23590 | NS      | $234956.40    | 0.33%             |  |  |  | No            | 1                  | On Loan: No      |
| Driven Brands Holdings Inc                | Driven Brands Holdings Inc                                       | CUSIP: 26210V102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -23231 | NS      | $-413976.42   | -0.58%            |  |  |  | No            | 1                  | On Loan: No      |
| D-Wave Quantum Inc                        | D-Wave Quantum Inc                                               | CUSIP: 26740W109<br>LEI: 5493001U37G4PRD4GW95 | Short            | EC               | CORP              | CA        |    -32668 | NS      | $-533468.44   | -0.75%            |  |  |  | No            | 1                  | On Loan: No      |
| DynaMotive Energy Systems Corp            | DynaMotive Energy Systems Corp                                   | CUSIP: 267924108<br>LEI: N/A                  | Short            | EC               | CORP              | CA        |    -72185 | NS      | $-7.22        | -0.00%            |  |  |  | No            | 3                  | On Loan: No      |
| El Pollo Loco Holdings Inc                | El Pollo Loco Holdings Inc                                       | CUSIP: 268603107<br>LEI: 549300EZCBNF4G707K90 | Long             | EC               | CORP              | US        |     24170 | NS      | $253785.00    | 0.36%             |  |  |  | No            | 1                  | On Loan: No      |
| Ener1 Inc                                 | Ener1 Inc                                                        | CUSIP: 29267A203<br>LEI: N/A                  | Short            | EC               | CORP              | US        |   -102820 | NS      | $-10.28       | -0.00%            |  |  |  | No            | 3                  | On Loan: No      |
| Entegris Inc                              | Entegris Inc                                                     | CUSIP: 29362U104<br>LEI: IYX6OWO7BT5DKO3BYG52 | Short            | EC               | CORP              | US        |     -2700 | NS      | $-185598.00   | -0.26%            |  |  |  | No            | 1                  | On Loan: No      |
| Ericsson                                  | Telefonaktiebolaget LM Ericsson                                  | CUSIP: 294821608<br>LEI: 549300W9JLPW15XIFM52 | Long             | EC               | CORP              | SE        |     92358 | NS      | $781348.68    | 1.10%             |  |  |  | No            | 1                  | On Loan: —       |
| Commonwealth Bank of Australia            | Commonwealth Bank of Australia                                   | CUSIP: N/A<br>LEI: MSFSBD3QN1GSN7Q6C537       | Short            | EC               | CORP              | AU        |     -2560 | NS      | $-290480.28   | -0.41%            |  |  |  | No            | 2                  | On Loan: No      |
| Coca-Cola Europacific Partners            | Coca-Cola Europacific Partners PLC                               | CUSIP: N/A<br>LEI: 549300LTH67W4GWMRF57       | Long             | EC               | CORP              | GB        |      3314 | NS      | $304192.06    | 0.43%             |  |  |  | No            | 1                  | On Loan: No      |
| Establishment Labs Holdings In            | Establishment Labs Holdings Inc                                  | CUSIP: N/A<br>LEI: 549300BCBQ714JNJ7V58       | Short            | EC               | CORP              | CR        |     -5919 | NS      | $-203731.98   | -0.29%            |  |  |  | No            | 1                  | On Loan: No      |
| Check Point Software Technolog            | Check Point Software Technologies Ltd                            | CUSIP: N/A<br>LEI: 2549003ZVBH73EPNS513       | Long             | EC               | CORP              | IL        |      1809 | NS      | $414043.92    | 0.58%             |  |  |  | No            | 1                  | On Loan: No      |
| Euroseas Ltd                              | Euroseas Ltd                                                     | CUSIP: N/A<br>LEI: 213800ADWWZOFC9KU444       | Long             | EC               | CORP              | GR        |      8220 | NS      | $315072.60    | 0.44%             |  |  |  | No            | 1                  | On Loan: No      |
| AstraZeneca PLC                           | AstraZeneca PLC                                                  | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |      9207 | NS      | $670545.81    | 0.94%             |  |  |  | No            | 1                  | On Loan: —       |
| Atomera Inc                               | Atomera Inc                                                      | CUSIP: 04965B100<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -39656 | NS      | $-243884.40   | -0.34%            |  |  |  | No            | 1                  | On Loan: No      |
| Bakkt Holdings Inc                        | Bakkt Holdings Inc                                               | CUSIP: 05759B305<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -17111 | NS      | $-199172.04   | -0.28%            |  |  |  | No            | 1                  | On Loan: No      |
| BBVA                                      | Banco Bilbao Vizcaya Argentaria SA                               | CUSIP: 05946K101<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | EC               | CORP              | ES        |     53458 | NS      | $804008.32    | 1.13%             |  |  |  | No            | 1                  | On Loan: —       |
| Bank of America Corp                      | Bank of America Corp                                             | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |     18534 | NS      | $817905.42    | 1.15%             |  |  |  | No            | 1                  | On Loan: No      |
| Barrett Business Services Inc             | Barrett Business Services Inc                                    | CUSIP: 068463108<br>LEI: 529900HXB6TMG0SR9Y34 | Long             | EC               | CORP              | US        |     21472 | NS      | $887330.40    | 1.25%             |  |  |  | No            | 1                  | On Loan: No      |
| Beard Co/The                              | Beard Co/The                                                     | CUSIP: 07384R408<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -9710 | NS      | $-0.01        | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| BGC Group Inc                             | BGC Group Inc                                                    | CUSIP: 088929104<br>LEI: 2549001IGRCG4F0RLD36 | Long             | EC               | CORP              | US        |    152823 | NS      | $1418197.44   | 1.99%             |  |  |  | No            | 1                  | On Loan: No      |
| BigBear.ai Holdings Inc                   | BigBear.ai Holdings Inc                                          | CUSIP: 08975B109<br>LEI: 549300XGCF2ELN28CS63 | Short            | EC               | CORP              | US        |    -53028 | NS      | $-220596.48   | -0.31%            |  |  |  | No            | 1                  | On Loan: No      |
| EverQuote Inc                             | EverQuote Inc                                                    | CUSIP: 30041R108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13967 | NS      | $321939.35    | 0.45%             |  |  |  | No            | 1                  | On Loan: No      |
| Everus Construction Group Inc             | Everus Construction Group Inc                                    | CUSIP: 300426103<br>LEI: 2549006JMMHR0KILT425 | Long             | EC               | CORP              | US        |     10134 | NS      | $586859.94    | 0.82%             |  |  |  | No            | 1                  | On Loan: No      |
| Evolv Technologies Holdings In            | Evolv Technologies Holdings Inc                                  | CUSIP: 30049H102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -58458 | NS      | $-319180.68   | -0.45%            |  |  |  | No            | 1                  | On Loan: No      |
| Fairfax Financial Holdings Ltd            | Fairfax Financial Holdings Ltd                                   | CUSIP: 303901102<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | EC               | CORP              | CA        |      1010 | NS      | $1709438.74   | 2.40%             |  |  |  | No            | 1                  | On Loan: —       |
| Federated Hermes US Treasury C            | Federated Hermes US Treasury Cash Reserves                       | CUSIP: 60934N682<br>LEI: 25490003NTA1P9CI5X97 | Long             | STIV             | RF                | US        |       588 | NS      | $587.54       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Richtech Robotics Inc                     | Richtech Robotics Inc                                            | CUSIP: 765504105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |   -126875 | NS      | $-293081.25   | -0.41%            |  |  |  | No            | 1                  | On Loan: No      |
| Rimini Street Inc                         | Rimini Street Inc                                                | CUSIP: 76674Q107<br>LEI: 54930042ITIRGVM4HY55 | Long             | EC               | CORP              | US        |    122457 | NS      | $373493.85    | 0.52%             |  |  |  | No            | 1                  | On Loan: No      |
| RingCentral Inc                           | RingCentral Inc                                                  | CUSIP: 76680R206<br>LEI: 549300C8EH0H1614VE84 | Long             | EC               | CORP              | US        |     33569 | NS      | $870444.17    | 1.22%             |  |  |  | No            | 1                  | On Loan: No      |
| Sandoz Group AG                           | Sandoz Group AG                                                  | CUSIP: 799926100<br>LEI: 5493000JWK6XWFEUD320 | Long             | EC               | CORP              | CH        |      6559 | NS      | $332147.76    | 0.47%             |  |  |  | No            | 1                  | On Loan: No      |
| Schlumberger NV                           | Schlumberger NV                                                  | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | US        |      9164 | NS      | $302870.20    | 0.43%             |  |  |  | No            | 1                  | On Loan: No      |
| Shake Shack Inc                           | Shake Shack Inc                                                  | CUSIP: 819047101<br>LEI: 529900J74GJAHYP80N79 | Short            | EC               | CORP              | US        |     -2145 | NS      | $-278399.55   | -0.39%            |  |  |  | No            | 1                  | On Loan: No      |
| Shift4 Payments Inc                       | Shift4 Payments Inc                                              | CUSIP: 82452J109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4979 | NS      | $471959.41    | 0.66%             |  |  |  | No            | 1                  | On Loan: —       |
| Rithm Capital Corp                        | Rithm Capital Corp                                               | CUSIP: 64828T201<br>LEI: 549300WNTHGEO5LP2G31 | Long             | EC               | CORP              | US        |     45515 | NS      | $507492.25    | 0.71%             |  |  |  | No            | 1                  | On Loan: No      |
| Samsung Electronics Co Ltd                | Samsung Electronics Co Ltd                                       | CUSIP: N/A<br>LEI: 9884007ER46L6N7EI764       | Long             | EC               | CORP              | KR        |     16366 | NS      | $664094.63    | 0.93%             |  |  |  | No            | 2                  | On Loan: No      |
| Rivian Automotive Inc                     | Rivian Automotive Inc                                            | CUSIP: 76954A103<br>LEI: 25490004LNKJ84MFYY24 | Short            | EC               | CORP              | US        |    -19293 | NS      | $-280327.29   | -0.39%            |  |  |  | No            | 1                  | On Loan: No      |
| Samsara Inc                               | Samsara Inc                                                      | CUSIP: 79589L106<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -4574 | NS      | $-212873.96   | -0.30%            |  |  |  | No            | 1                  | On Loan: No      |
| Stifel Financial Corp                     | Stifel Financial Corp                                            | CUSIP: 860630102<br>LEI: 549300E5F07FE5GHJX84 | Long             | EC               | CORP              | US        |      6693 | NS      | $630614.46    | 0.89%             |  |  |  | No            | 1                  | On Loan: No      |
| Silicon Motion Technology Corp            | Silicon Motion Technology Corp                                   | CUSIP: 82706C108<br>LEI: 5299005RBVBZQJTYFC89 | Long             | EC               | CORP              | TW        |      4587 | NS      | $280724.40    | 0.39%             |  |  |  | No            | 1                  | On Loan: No      |
| Sky Harbour Group Corp                    | Sky Harbour Group Corp                                           | CUSIP: 83085C107<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -16060 | NS      | $-165418.00   | -0.23%            |  |  |  | No            | 1                  | On Loan: No      |
| Solaris Energy Infrastructure             | Solaris Energy Infrastructure Inc                                | CUSIP: 83418M103<br>LEI: 529900MTK3C8Y8TIIC10 | Long             | EC               | CORP              | US        |     21370 | NS      | $586179.10    | 0.82%             |  |  |  | No            | 1                  | On Loan: —       |
| SoundHound AI Inc                         | SoundHound AI Inc                                                | CUSIP: 836100107<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -23581 | NS      | $-238403.91   | -0.34%            |  |  |  | No            | 1                  | On Loan: No      |
| South Bow Corp                            | South Bow Corp                                                   | CUSIP: 83671M105<br>LEI: 2549000XS5TAFA3YF943 | Long             | EC               | CORP              | CA        |     12132 | NS      | $315432.00    | 0.44%             |  |  |  | No            | 1                  | On Loan: —       |
| Sprout Social Inc                         | Sprout Social Inc                                                | CUSIP: 85209W109<br>LEI: 254900QE3QH8EBRDOB65 | Short            | EC               | CORP              | US        |     -8093 | NS      | $-176670.19   | -0.25%            |  |  |  | No            | 1                  | On Loan: No      |
| TMC the metals co Inc                     | TMC the metals co Inc                                            | CUSIP: 87261Y106<br>LEI: N/A                  | Short            | EC               | CORP              | CA        |   -116149 | NS      | $-519186.03   | -0.73%            |  |  |  | No            | 1                  | On Loan: No      |
| Taseko Mines Ltd                          | Taseko Mines Ltd                                                 | CUSIP: 876511106<br>LEI: 549300XKUO1JSLU7KX54 | Long             | EC               | CORP              | CA        |    133318 | NS      | $297299.14    | 0.42%             |  |  |  | No            | 1                  | On Loan: —       |
| Ternium SA                                | Ternium SA                                                       | CUSIP: 880890108<br>LEI: 529900QG4KU23TEI2E46 | Long             | EC               | CORP              | LU        |     10217 | NS      | $279741.46    | 0.39%             |  |  |  | No            | 1                  | On Loan: No      |
| TG Therapeutics Inc                       | TG Therapeutics Inc                                              | CUSIP: 88322Q108<br>LEI: 529900X21UKABN9NJ529 | Short            | EC               | CORP              | US        |     -6390 | NS      | $-224352.90   | -0.32%            |  |  |  | No            | 1                  | On Loan: No      |
| Tiger Telematics Inc                      | Tiger Telematics Inc                                             | CUSIP: 88673X207<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -6510 | NS      | $0.00         | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| Tucows Inc                                | Tucows Inc                                                       | CUSIP: 898697206<br>LEI: 529900860LTAB4QUV247 | Short            | EC               | CORP              | CA        |     -5974 | NS      | $-115895.60   | -0.16%            |  |  |  | No            | 1                  | On Loan: No      |
| Sterling Infrastructure Inc               | Sterling Infrastructure Inc                                      | CUSIP: 859241101<br>LEI: 549300RZIK6K1215XU51 | Long             | EC               | CORP              | US        |      6617 | NS      | $1244062.17   | 1.75%             |  |  |  | No            | 1                  | On Loan: No      |
| Ferroglobe PLC                            | Ferroglobe PLC                                                   | CUSIP: N/A<br>LEI: 2138005GCFJACFTZUD90       | Long             | EC               | CORP              | GB        |    143804 | NS      | $522008.52    | 0.73%             |  |  |  | No            | 1                  | On Loan: No      |
| U.S. Bank Money Market Deposit Account    | U.S. Bank Money Market Deposit Account                           | CUSIP: 8AMMF0A92<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    386904 | NS      | $386904.35    | 0.54%             |  |  |  | No            | 1                  | On Loan: No      |
| Turning Point Brands Inc                  | Turning Point Brands Inc                                         | CUSIP: 90041L105<br>LEI: 549300IYG00QF0VVP302 | Long             | EC               | CORP              | US        |      6951 | NS      | $516598.32    | 0.73%             |  |  |  | No            | 1                  | On Loan: No      |
| Stevanato Group SpA                       | Stevanato Group SpA                                              | CUSIP: N/A<br>LEI: 81560033F7E1CD477507       | Short            | EC               | CORP              | IT        |    -13054 | NS      | $-289929.34   | -0.41%            |  |  |  | No            | 1                  | On Loan: No      |
| Twilio Inc                                | Twilio Inc                                                       | CUSIP: 90138F102<br>LEI: 5493004W8TRGD63APX93 | Long             | EC               | CORP              | US        |     11333 | NS      | $1333894.10   | 1.87%             |  |  |  | No            | 1                  | On Loan: No      |
| Uber Technologies Inc                     | Uber Technologies Inc                                            | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |      6725 | NS      | $565976.00    | 0.80%             |  |  |  | No            | 1                  | On Loan: No      |
| Uni-Pixel Inc                             | Uni-Pixel Inc                                                    | CUSIP: 904572203<br>LEI: 5493001SOJFEYRJCME48 | Short            | EC               | CORP              | US        |    -19665 | NS      | $-1.97        | -0.00%            |  |  |  | No            | 3                  | On Loan: No      |
| UnitedHealth Group Inc                    | UnitedHealth Group Inc                                           | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |      2104 | NS      | $635218.64    | 0.89%             |  |  |  | No            | 1                  | On Loan: No      |
| Valence Technology Inc                    | Valence Technology Inc                                           | CUSIP: 918914102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -27585 | NS      | $-2.76        | -0.00%            |  |  |  | No            | 3                  | On Loan: No      |
| Wells Fargo & Co                          | Wells Fargo & Co                                                 | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |     10639 | NS      | $795584.42    | 1.12%             |  |  |  | No            | 1                  | On Loan: No      |
| Westrock Coffee Co                        | Westrock Coffee Co                                               | CUSIP: 96145W103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -43471 | NS      | $-299080.48   | -0.42%            |  |  |  | No            | 1                  | On Loan: No      |
| TeamViewer SE                             | TeamViewer SE                                                    | CUSIP: N/A<br>LEI: 3912000FZ0R0KEK9JS42       | Long             | EC               | CORP              | DE        |    102044 | NS      | $1190000.28   | 1.67%             |  |  |  | No            | 2                  | On Loan: No      |
| Super Group SGHC Ltd                      | Super Group SGHC Ltd                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | GG        |    129323 | NS      | $1130283.02   | 1.59%             |  |  |  | No            | 1                  | On Loan: No      |
| Willis Towers Watson PLC                  | Willis Towers Watson PLC                                         | CUSIP: N/A<br>LEI: 549300WHC56FF48KL350       | Long             | EC               | CORP              | GB        |      1447 | NS      | $458047.85    | 0.64%             |  |  |  | No            | 1                  | On Loan: No      |
| Leon's Furniture Ltd                      | Leon's Furniture Ltd                                             | CUSIP: 526682109<br>LEI: 549300L1VH4AT8EH7A33 | Long             | EC               | CORP              | CA        |     14567 | NS      | $292433.31    | 0.41%             |  |  |  | No            | 1                  | On Loan: No      |
| KULR Technology Group Inc                 | KULR Technology Group Inc                                        | CUSIP: 50125G109<br>LEI: 213800YUOETJ427AGG25 | Short            | EC               | CORP              | US        |    -97511 | NS      | $-114087.87   | -0.16%            |  |  |  | No            | 1                  | On Loan: No      |
| Kura Sushi USA Inc                        | Kura Sushi USA Inc                                               | CUSIP: 501270102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -2278 | NS      | $-150484.68   | -0.21%            |  |  |  | No            | 1                  | On Loan: No      |
| Lancaster Colony Corp                     | Lancaster Colony Corp                                            | CUSIP: 513847103<br>LEI: 529900X4O13HED1ZAS58 | Short            | EC               | CORP              | US        |     -1374 | NS      | $-230007.60   | -0.32%            |  |  |  | No            | 1                  | On Loan: No      |
| Lantheus Holdings Inc                     | Lantheus Holdings Inc                                            | CUSIP: 516544103<br>LEI: 5299005HUB5IOJGO7S39 | Long             | EC               | CORP              | US        |      8449 | NS      | $638406.44    | 0.90%             |  |  |  | No            | 1                  | On Loan: —       |
| Lifeway Foods Inc                         | Lifeway Foods Inc                                                | CUSIP: 531914109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     22292 | NS      | $503687.74    | 0.71%             |  |  |  | No            | 1                  | On Loan: No      |
| Lifevantage Corp                          | Lifevantage Corp                                                 | CUSIP: 53222K205<br>LEI: 5493001Z5YYT109QZ980 | Long             | EC               | CORP              | US        |     19587 | NS      | $255610.35    | 0.36%             |  |  |  | No            | 1                  | On Loan: —       |
| Lightwave Logic Inc                       | Lightwave Logic Inc                                              | CUSIP: 532275104<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -59044 | NS      | $-57863.12    | -0.08%            |  |  |  | No            | 1                  | On Loan: No      |
| LifeStance Health Group Inc               | LifeStance Health Group Inc                                      | CUSIP: 53228F101<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -45054 | NS      | $-267620.76   | -0.38%            |  |  |  | No            | 1                  | On Loan: No      |
| Lincoln National Corp                     | Lincoln National Corp                                            | CUSIP: 534187109<br>LEI: EFQMQROEDSNBRIP7LE47 | Long             | EC               | CORP              | US        |     10472 | NS      | $347042.08    | 0.49%             |  |  |  | No            | 1                  | On Loan: No      |
| Lionsgate Studios Corp                    | Lionsgate Studios Corp                                           | CUSIP: 53626N102<br>LEI: N/A                  | Short            | EC               | CORP              | CA        |    -21573 | NS      | $-155972.70   | -0.22%            |  |  |  | No            | 1                  | On Loan: No      |
| LiveRamp Holdings Inc                     | LiveRamp Holdings Inc                                            | CUSIP: 53815P108<br>LEI: 254900GXS75LG1X7RF88 | Long             | EC               | CORP              | US        |     12648 | NS      | $412071.84    | 0.58%             |  |  |  | No            | 1                  | On Loan: No      |
| Lyft Inc                                  | Lyft Inc                                                         | CUSIP: 55087P104<br>LEI: 549300H7I5VN334XVZ52 | Long             | EC               | CORP              | US        |     24339 | NS      | $370926.36    | 0.52%             |  |  |  | No            | 1                  | On Loan: No      |
| Mama's Creations Inc                      | Mama's Creations Inc                                             | CUSIP: 56146T103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -34272 | NS      | $-284800.32   | -0.40%            |  |  |  | No            | 1                  | On Loan: No      |
| Merchants Bancorp/IN                      | Merchants Bancorp/IN                                             | CUSIP: 58844R108<br>LEI: 54930008Y0GPVLF81889 | Long             | EC               | CORP              | US        |      6836 | NS      | $218888.72    | 0.31%             |  |  |  | No            | 1                  | On Loan: No      |
| NRG Energy Inc                            | NRG Energy Inc                                                   | CUSIP: 629377508<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | EC               | CORP              | US        |      4582 | NS      | $714333.80    | 1.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Nestor Inc                                | Nestor Inc                                                       | CUSIP: 641074505<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -15200 | NS      | $-1.52        | -0.00%            |  |  |  | No            | 3                  | On Loan: No      |
| Newmark Group Inc                         | Newmark Group Inc                                                | CUSIP: 65158N102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     83130 | NS      | $915261.30    | 1.29%             |  |  |  | No            | 1                  | On Loan: —       |
| NEXTracker Inc                            | NEXTracker Inc                                                   | CUSIP: 65290E101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4987 | NS      | $282713.03    | 0.40%             |  |  |  | No            | 1                  | On Loan: No      |
| NextNav Inc                               | NextNav Inc                                                      | CUSIP: 65345N106<br>LEI: 549300X9CM76JRB02P70 | Short            | EC               | CORP              | US        |    -27226 | NS      | $-341686.30   | -0.48%            |  |  |  | No            | 1                  | On Loan: No      |
| Nice Ltd                                  | Nice Ltd                                                         | CUSIP: 653656108<br>LEI: 254900YTY4EF5Z4W0A51 | Long             | EC               | CORP              | IL        |      4029 | NS      | $668531.97    | 0.94%             |  |  |  | No            | 1                  | On Loan: —       |
| Northeast Bank                            | Northeast Bank                                                   | CUSIP: 66405S100<br>LEI: 549300F0LV9TSW34E306 | Long             | EC               | CORP              | US        |      3914 | NS      | $328110.62    | 0.46%             |  |  |  | No            | 1                  | On Loan: No      |
| Northeast Community Bancorp In            | Northeast Community Bancorp Inc                                  | CUSIP: 664121100<br>LEI: 5493007BRYL8596Q9L26 | Long             | EC               | CORP              | US        |     12304 | NS      | $278316.48    | 0.39%             |  |  |  | No            | 1                  | On Loan: No      |
| Novartis AG                               | Novartis AG                                                      | CUSIP: 66987V109<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               | CORP              | CH        |      5116 | NS      | $592228.16    | 0.83%             |  |  |  | No            | 1                  | On Loan: —       |
| Open Text Corp                            | Open Text Corp                                                   | CUSIP: 683715106<br>LEI: 549300HP7ONDQODZJV16 | Long             | EC               | CORP              | CA        |     26178 | NS      | $741099.18    | 1.04%             |  |  |  | No            | 1                  | On Loan: —       |
| Oppenheimer Holdings Inc                  | Oppenheimer Holdings Inc                                         | CUSIP: 683797104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7046 | NS      | $460033.34    | 0.65%             |  |  |  | No            | 1                  | On Loan: No      |
| Oracle Corp                               | Oracle Corp                                                      | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |      2725 | NS      | $451069.25    | 0.63%             |  |  |  | No            | 1                  | On Loan: No      |
| Pan American Silver Corp                  | Pan American Silver Corp                                         | CUSIP: 697900108<br>LEI: 549300MKTF5851TYIB83 | Long             | EC               | CORP              | CA        |     14144 | NS      | $344972.16    | 0.48%             |  |  |  | No            | 1                  | On Loan: No      |
| Park Hotels & Resorts Inc                 | Park Hotels & Resorts Inc                                        | CUSIP: 700517105<br>LEI: 5493005UZ5TQN0H6HS73 | Long             | EC               | CORP              | US        |     41755 | NS      | $432581.80    | 0.61%             |  |  |  | No            | 1                  | On Loan: No      |
| Peabody Energy Corp                       | Peabody Energy Corp                                              | CUSIP: 704551100<br>LEI: EJCO258LNNVSKAR2JX59 | Long             | EC               | CORP              | US        |     33427 | NS      | $439899.32    | 0.62%             |  |  |  | No            | 1                  | On Loan: —       |
| Potbelly Corp                             | Potbelly Corp                                                    | CUSIP: 73754Y100<br>LEI: 54930027NUULUR2P5W11 | Long             | EC               | CORP              | US        |     26609 | NS      | $283918.03    | 0.40%             |  |  |  | No            | 1                  | On Loan: No      |
| PriceSmart Inc                            | PriceSmart Inc                                                   | CUSIP: 741511109<br>LEI: 549300JVYOSTGVSDZS46 | Long             | EC               | CORP              | US        |      5667 | NS      | $611922.66    | 0.86%             |  |  |  | No            | 1                  | On Loan: No      |
| PROCEPT BioRobotics Corp                  | PROCEPT BioRobotics Corp                                         | CUSIP: 74276L105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -5311 | NS      | $-308038.00   | -0.43%            |  |  |  | No            | 1                  | On Loan: No      |
| PureCycle Technologies Inc                | PureCycle Technologies Inc                                       | CUSIP: 74623V103<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -30719 | NS      | $-292137.69   | -0.41%            |  |  |  | No            | 1                  | On Loan: No      |
| Qsound Labs Inc                           | Qsound Labs Inc                                                  | CUSIP: 74728C307<br>LEI: N/A                  | Short            | EC               | CORP              | CA        |     -4440 | NS      | $-0.44        | -0.00%            |  |  |  | No            | 3                  | On Loan: No      |
| QUALCOMM Inc                              | QUALCOMM Inc                                                     | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |      1747 | NS      | $253664.40    | 0.36%             |  |  |  | No            | 1                  | On Loan: No      |
| Quanta Services Inc                       | Quanta Services Inc                                              | CUSIP: 74762E102<br>LEI: SHVRXXEACT60MMH07S24 | Long             | EC               | CORP              | US        |      1181 | NS      | $404563.36    | 0.57%             |  |  |  | No            | 1                  | On Loan: No      |
| Medtronic PLC                             | Medtronic PLC                                                    | CUSIP: N/A<br>LEI: 549300GX3ZBSQWUXY261       | Long             | EC               | CORP              | IE        |      8255 | NS      | $684999.90    | 0.96%             |  |  |  | No            | 1                  | On Loan: No      |

### Signature

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

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

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

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

**Title:** CFO COO Secretary