# EDGAR Filing Document

**Accession Number:** 0001272950
**File Stem:** 0000940400-26-007499
**Filing Date:** 2026-2
**Character Count:** 123114
**Document Hash:** 72f21b195e6ef2b2342805f50c99edf0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-007499.hdr.sgml**: 20260225

**ACCESSION NUMBER**: 0000940400-26-007499

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260225

**DATE AS OF CHANGE**: 20260225

**PERIOD START**: 20260930

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21475
- **FILM NUMBER:** 26675525

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

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

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

## Series and Classes Contracts Data

### RBC BlueBay High Yield Bond Fund (Series ID: S000033481)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000102921 | Class A      | RHYAX           |
| C000102922 | Class I      | RGHYX           |
| C000268419 | Class R6     | RHYRX           |

## Nport-Ex

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay High Yield Bond Fund

------

December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| **Corporate Bonds — 92.2%** | **Corporate Bonds — 92.2%** |  |
| **Australia — 0.7%** | **Australia — 0.7%** |  |
| &nbsp;&nbsp;$3377000 | Mineral Resources Ltd., 8.00%, 11/1/27(a) | &nbsp;&nbsp;$3447361 |
| &nbsp;&nbsp;&nbsp;&nbsp;4896000 | Mineral Resources Ltd., 9.25%, 10/1/28(a) | &nbsp;&nbsp;&nbsp;&nbsp;5144818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220972 | Quintis Australia Pty Ltd., PIK, 7.50%, 10/1/26(a),(b),(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17457 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143548 | Quintis Australia Pty Ltd., PIK, 12.00%, 10/1/28(a),(b),(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;8609636 |
| **Canada — 4.7%** | **Canada — 4.7%** |  |
| &nbsp;&nbsp;12640000 | 1011778 BC ULC / New Red Finance, Inc., 4.38%, 1/15/28(a) | &nbsp;&nbsp;&nbsp;12556638 |
| &nbsp;&nbsp;&nbsp;&nbsp;3489000 | AltaGas Ltd., 7.20%, 10/15/54(a),(d) | &nbsp;&nbsp;&nbsp;&nbsp;3610756 |
| &nbsp;&nbsp;&nbsp;&nbsp;3914000 | Bombardier, Inc., 6.75%, 6/15/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;4140722 |
| &nbsp;&nbsp;&nbsp;&nbsp;2992000 | Garda World Security Corp., 8.38%, 11/15/32(a) | &nbsp;&nbsp;&nbsp;&nbsp;3052215 |
| &nbsp;&nbsp;&nbsp;&nbsp;2895000 | Hudbay Minerals, Inc., 4.50%, 4/1/26(a) | &nbsp;&nbsp;&nbsp;&nbsp;2897502 |
| &nbsp;&nbsp;&nbsp;&nbsp;5977000 | New Gold, Inc., 6.88%, 4/1/32(a) | &nbsp;&nbsp;&nbsp;&nbsp;6348340 |
| &nbsp;&nbsp;&nbsp;&nbsp;9249000 | NOVA Chemicals Corp., 4.25%, 5/15/29(a) | &nbsp;&nbsp;&nbsp;&nbsp;9054950 |
| &nbsp;&nbsp;&nbsp;&nbsp;3456000 | NOVA Chemicals Corp., 9.00%, 2/15/30(a) | &nbsp;&nbsp;&nbsp;&nbsp;3690627 |
| &nbsp;&nbsp;13432000 | Toucan FinCo Ltd./Toucan FinCo Can, Inc./Toucan FinCo US LLC, 9.50%, 5/15/30(a) | &nbsp;&nbsp;&nbsp;13416871 |
|  |  | &nbsp;&nbsp;&nbsp;58768621 |
| **France — 1.2%** | **France — 1.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4173000 | Forvia SE, 6.75%, 9/15/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;4293075 |
| &nbsp;&nbsp;&nbsp;&nbsp;4691000 | Iliad Holding SASU, 7.00%, 10/15/28(a) | &nbsp;&nbsp;&nbsp;&nbsp;4760410 |
| &nbsp;&nbsp;&nbsp;&nbsp;5648000 | Societe Generale SA, 8.50%, (a),(d),(e) | &nbsp;&nbsp;&nbsp;&nbsp;6164782 |
|  |  | &nbsp;&nbsp;&nbsp;15218267 |
| **Germany — 0.8%** | **Germany — 0.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;9788000 | ZF North America Capital, Inc., 7.50%, 3/24/31(a) | &nbsp;&nbsp;&nbsp;&nbsp;9904487 |
| **Italy — 0.5%** | **Italy — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6736000 | Fibercop SpA, Series 2033, 6.38%, 11/15/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;6687135 |
| **Jamaica — 0.5%** | **Jamaica — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6259000 | Digicel International Finance Ltd. / Difl US LLC, 8.63%, 8/1/32(a) | &nbsp;&nbsp;&nbsp;&nbsp;6497224 |
| **Japan — 1.7%** | **Japan — 1.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5784000 | Kioxia Holdings Corp., 6.25%, 7/24/30(a) | &nbsp;&nbsp;&nbsp;&nbsp;5955102 |
| &nbsp;&nbsp;&nbsp;&nbsp;4958000 | Kioxia Holdings Corp., 6.63%, 7/24/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;5161638 |
| &nbsp;&nbsp;&nbsp;&nbsp;4553000 | Rakuten Group, Inc., 9.75%, 4/15/29(a) | &nbsp;&nbsp;&nbsp;&nbsp;5093016 |
| &nbsp;&nbsp;&nbsp;&nbsp;4372000 | Rakuten Group, Inc., 11.25%, 2/15/27(a) | &nbsp;&nbsp;&nbsp;&nbsp;4672682 |
|  |  | &nbsp;&nbsp;&nbsp;20882438 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay High Yield Bond Fund (cont.)

------

December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| **Luxembourg — 0.7%** | **Luxembourg — 0.7%** |  |
| &nbsp;&nbsp;$3871000 | Albion Financing 1 Sarl / Aggreko Holdings, Inc., 7.00%, 5/21/30(a) | &nbsp;&nbsp;$4038208 |
| &nbsp;&nbsp;&nbsp;&nbsp;5868000 | Altice Financing SA, 5.00%, 1/15/28(a) | &nbsp;&nbsp;&nbsp;&nbsp;4112416 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;8150624 |
| **Mexico — 0.7%** | **Mexico — 0.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3467000 | Banco Mercantil del Norte SA, 8.38%, (a),(d),(e) | &nbsp;&nbsp;&nbsp;&nbsp;3635326 |
| &nbsp;&nbsp;&nbsp;&nbsp;4916000 | Banco Mercantil del Norte SA, 8.75%, (a),(d),(e) | &nbsp;&nbsp;&nbsp;&nbsp;5255380 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;8890706 |
| **Netherlands — 0.2%** | **Netherlands — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2976000 | Ziggo Bond Co. BV, 5.13%, 2/28/30(a) | &nbsp;&nbsp;&nbsp;&nbsp;2657131 |
| **Spain — 0.8%** | **Spain — 0.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;9032000 | Banco Bilbao Vizcaya Argentaria SA, 7.75%, (d),(e) | &nbsp;&nbsp;&nbsp;&nbsp;9673476 |
| **United Kingdom — 4.1%** | **United Kingdom — 4.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7614000 | Ardonagh Finco Ltd., 7.75%, 2/15/31(a) | &nbsp;&nbsp;&nbsp;&nbsp;7980954 |
| &nbsp;&nbsp;&nbsp;&nbsp;4616000 | Barclays Plc, 8.00%, (d),(e) | &nbsp;&nbsp;&nbsp;&nbsp;4912028 |
| &nbsp;&nbsp;&nbsp;&nbsp;5206000 | Barclays Plc, 9.63%, (d),(e) | &nbsp;&nbsp;&nbsp;&nbsp;5882483 |
| &nbsp;&nbsp;&nbsp;&nbsp;5746000 | Connect Finco Sarl / Connect US Finco LLC, 9.00%, 9/15/29(a) | &nbsp;&nbsp;&nbsp;&nbsp;6102399 |
| &nbsp;&nbsp;10076000 | Virgin Media Finance Plc, 5.00%, 7/15/30(a) | &nbsp;&nbsp;&nbsp;&nbsp;8883227 |
| &nbsp;&nbsp;&nbsp;&nbsp;9462000 | Vmed O2 UK Financing I Plc, 4.75%, 7/15/31(a) | &nbsp;&nbsp;&nbsp;&nbsp;8743221 |
| &nbsp;&nbsp;&nbsp;&nbsp;2824000 | Vmed O2 UK Financing I Plc, 7.75%, 4/15/32(a) | &nbsp;&nbsp;&nbsp;&nbsp;2939448 |
| &nbsp;&nbsp;&nbsp;&nbsp;5025000 | Vodafone Group Plc, 4.13%, 6/4/81(d) | &nbsp;&nbsp;&nbsp;&nbsp;4699259 |
|  |  | &nbsp;&nbsp;&nbsp;50143019 |
| **United States — 75.6%** | **United States — 75.6%** |  |
| &nbsp;&nbsp;12210000 | 1261229 BC Ltd., 10.00%, 4/15/32(a) | &nbsp;&nbsp;&nbsp;12717061 |
| &nbsp;&nbsp;&nbsp;&nbsp;4137000 | Acrisure LLC / Acrisure Finance, Inc., 4.25%, 2/15/29(a) | &nbsp;&nbsp;&nbsp;&nbsp;4031943 |
| &nbsp;&nbsp;&nbsp;&nbsp;6729000 | Acrisure LLC / Acrisure Finance, Inc., 7.50%, 11/6/30(a) | &nbsp;&nbsp;&nbsp;&nbsp;7006885 |
| &nbsp;&nbsp;&nbsp;&nbsp;3582000 | Acushnet Co., 5.63%, 12/1/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;3629104 |
| &nbsp;&nbsp;&nbsp;&nbsp;3518000 | ADT Security Corp. (The), 4.13%, 8/1/29(a) | &nbsp;&nbsp;&nbsp;&nbsp;3433612 |
| &nbsp;&nbsp;&nbsp;&nbsp;4609000 | Advance Auto Parts, Inc., 7.38%, 8/1/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;4638585 |
| &nbsp;&nbsp;&nbsp;&nbsp;3884000 | Albertsons Cos. Inc / Safeway, Inc. / New Albertsons LP / Albertsons LLC, 5.50%, 3/31/31(a) | &nbsp;&nbsp;&nbsp;&nbsp;3929679 |
| &nbsp;&nbsp;10426000 | Albertsons Cos. LLC / Safeway, Inc. / New Albertsons LP / Albertson's LLC, 4.63%, 1/15/27(a) | &nbsp;&nbsp;&nbsp;10426159 |
| &nbsp;&nbsp;&nbsp;&nbsp;7838000 | Allied Universal Holdco LLC, 7.88%, 2/15/31(a) | &nbsp;&nbsp;&nbsp;&nbsp;8264262 |
| &nbsp;&nbsp;&nbsp;&nbsp;6779000 | Ally Financial, Inc., Series B, 4.70%, (d),(e) | &nbsp;&nbsp;&nbsp;&nbsp;6694904 |
| &nbsp;&nbsp;&nbsp;&nbsp;5884000 | Ally Financial, Inc., 6.65%, 1/17/40(d) | &nbsp;&nbsp;&nbsp;&nbsp;5928417 |
| &nbsp;&nbsp;&nbsp;&nbsp;6026000 | AMC Networks, Inc., 10.25%, 1/15/29(a) | &nbsp;&nbsp;&nbsp;&nbsp;6314158 |
| &nbsp;&nbsp;&nbsp;&nbsp;5669000 | American Airlines, Inc., 7.25%, 2/15/28(a) | &nbsp;&nbsp;&nbsp;&nbsp;5794104 |
| &nbsp;&nbsp;&nbsp;&nbsp;7544000 | American Axle & Manufacturing, Inc., 7.75%, 10/15/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;7685167 |
| &nbsp;&nbsp;&nbsp;&nbsp;6035000 | American National Group, Inc., 7.00%, 12/1/55(d) | &nbsp;&nbsp;&nbsp;&nbsp;6054068 |
| &nbsp;&nbsp;&nbsp;&nbsp;9124000 | AmeriGas Partners LP / AmeriGas Finance Corp., 9.38%, 6/1/28(a) | &nbsp;&nbsp;&nbsp;&nbsp;9437760 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay High Yield Bond Fund (cont.)

------

December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| &nbsp;&nbsp;$7058000 | AmeriGas Partners LP / AmeriGas Finance Corp., 9.50%, 6/1/30(a) | &nbsp;&nbsp;$7520741 |
| &nbsp;&nbsp;&nbsp;&nbsp;6559000 | AmeriTex HoldCo Intermediate LLC, 7.63%, 8/15/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;6902212 |
| &nbsp;&nbsp;&nbsp;&nbsp;9096167 | Anywhere Real Estate Group LLC / Anywhere Co.-Issuer Corp., 7.00%, 4/15/30(a) | &nbsp;&nbsp;&nbsp;&nbsp;9099748 |
| &nbsp;&nbsp;&nbsp;&nbsp;6698000 | APH Somerset Investor 2 LLC / APH2 Somerset Investor 2 LLC / APH3 Somerset Inves, 7.88%, 11/1/29(a) | &nbsp;&nbsp;&nbsp;&nbsp;6794762 |
| &nbsp;&nbsp;10874000 | APLD ComputeCo LLC, 9.25%, 12/15/30(a) | &nbsp;&nbsp;&nbsp;10665510 |
| &nbsp;&nbsp;&nbsp;&nbsp;5698000 | Asurion LLC and Asurion Co.-Issuer, Inc., 8.00%, 12/31/32(a) | &nbsp;&nbsp;&nbsp;&nbsp;5915670 |
| &nbsp;&nbsp;&nbsp;&nbsp;4065000 | Avantor Funding, Inc., 3.88%, 11/1/29(a) | &nbsp;&nbsp;&nbsp;&nbsp;3889866 |
| &nbsp;&nbsp;&nbsp;&nbsp;6641000 | Avis Budget Car Rental LLC / Avis Budget Finance, Inc., 5.75%, 7/15/27(a) | &nbsp;&nbsp;&nbsp;&nbsp;6635912 |
| &nbsp;&nbsp;&nbsp;&nbsp;4399000 | Axalta Coating Systems LLC, 3.38%, 2/15/29(a) | &nbsp;&nbsp;&nbsp;&nbsp;4227979 |
| &nbsp;&nbsp;&nbsp;&nbsp;5881000 | Beach Acquisition Bidco LLC, PIK, 10.00%, 7/15/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;6465147 |
| &nbsp;&nbsp;&nbsp;&nbsp;5848000 | Boost Newco Borrower LLC, 7.50%, 1/15/31(a) | &nbsp;&nbsp;&nbsp;&nbsp;6215804 |
| &nbsp;&nbsp;&nbsp;&nbsp;2681000 | Brandywine Operating Partnership LP, REIT, 8.88%, 4/12/29 | &nbsp;&nbsp;&nbsp;&nbsp;2889127 |
| &nbsp;&nbsp;&nbsp;&nbsp;6436000 | Bread Financial Holdings, Inc., 8.38%, 6/15/35(a),(d) | &nbsp;&nbsp;&nbsp;&nbsp;6641859 |
| &nbsp;&nbsp;&nbsp;&nbsp;6375000 | Caesars Entertainment, Inc., 7.00%, 2/15/30(a) | &nbsp;&nbsp;&nbsp;&nbsp;6601863 |
| &nbsp;&nbsp;&nbsp;&nbsp;6482000 | California Resources Corp., 7.00%, 1/15/34(a) | &nbsp;&nbsp;&nbsp;&nbsp;6397571 |
| &nbsp;&nbsp;&nbsp;&nbsp;6065000 | Carnival Corp., 5.13%, 5/1/29(a) | &nbsp;&nbsp;&nbsp;&nbsp;6137179 |
| &nbsp;&nbsp;13636000 | Carriage Services, Inc., 4.25%, 5/15/29(a) | &nbsp;&nbsp;&nbsp;13126105 |
| &nbsp;&nbsp;&nbsp;&nbsp;1247500 | Carvana Co., PIK, 9.00%, 6/1/30(a) | &nbsp;&nbsp;&nbsp;&nbsp;1307618 |
| &nbsp;&nbsp;&nbsp;&nbsp;7201000 | CCO Holdings LLC / CCO Holdings Capital Corp., 4.75%, 3/1/30(a) | &nbsp;&nbsp;&nbsp;&nbsp;6888725 |
| &nbsp;&nbsp;&nbsp;&nbsp;5435000 | CCO Holdings LLC / CCO Holdings Capital Corp., 5.00%, 2/1/28(a) | &nbsp;&nbsp;&nbsp;&nbsp;5390350 |
| &nbsp;&nbsp;&nbsp;&nbsp;7483000 | CCO Holdings LLC / CCO Holdings Capital Corp., 5.13%, 5/1/27(a) | &nbsp;&nbsp;&nbsp;&nbsp;7474493 |
| &nbsp;&nbsp;&nbsp;&nbsp;3858000 | CCO Holdings LLC / CCO Holdings Capital Corp., 5.50%, 5/1/26(a) | &nbsp;&nbsp;&nbsp;&nbsp;3862806 |
| &nbsp;&nbsp;&nbsp;&nbsp;6156000 | CCO Holdings LLC / CCO Holdings Capital Corp., 7.38%, 3/1/31(a) | &nbsp;&nbsp;&nbsp;&nbsp;6278865 |
| &nbsp;&nbsp;&nbsp;&nbsp;3604000 | Chart Industries, Inc., 9.50%, 1/1/31(a) | &nbsp;&nbsp;&nbsp;&nbsp;3825426 |
| &nbsp;&nbsp;&nbsp;&nbsp;5100000 | CHS/Community Health Systems, Inc., 10.88%, 1/15/32(a) | &nbsp;&nbsp;&nbsp;&nbsp;5573559 |
| &nbsp;&nbsp;&nbsp;&nbsp;5476000 | Citigroup, Inc., 6.63%, (d),(e) | &nbsp;&nbsp;&nbsp;&nbsp;5551306 |
| &nbsp;&nbsp;&nbsp;&nbsp;5675000 | Civitas Resources, Inc., 9.63%, 6/15/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;6117664 |
| &nbsp;&nbsp;&nbsp;&nbsp;2944000 | Clear Channel Outdoor Holdings, Inc., 7.13%, 2/15/31(a) | &nbsp;&nbsp;&nbsp;&nbsp;3081242 |
| &nbsp;&nbsp;&nbsp;&nbsp;3681000 | Clear Channel Outdoor Holdings, Inc., 7.50%, 3/15/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;3899117 |
| &nbsp;&nbsp;&nbsp;&nbsp;4560000 | Clear Channel Outdoor Holdings, Inc., 7.88%, 4/1/30(a) | &nbsp;&nbsp;&nbsp;&nbsp;4809235 |
| &nbsp;&nbsp;&nbsp;&nbsp;4704000 | Cleveland-Cliffs, Inc., 7.38%, 5/1/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;4890391 |
| &nbsp;&nbsp;12534000 | Cloud Software Group, Inc., 6.50%, 3/31/29(a) | &nbsp;&nbsp;&nbsp;12696649 |
| &nbsp;&nbsp;&nbsp;&nbsp;5495000 | Cloud Software Group, Inc., 8.25%, 6/30/32(a) | &nbsp;&nbsp;&nbsp;&nbsp;5751674 |
| &nbsp;&nbsp;&nbsp;&nbsp;8992716 | CMG Media Corp., 8.88%, 6/18/29(a) | &nbsp;&nbsp;&nbsp;&nbsp;7725178 |
| &nbsp;&nbsp;&nbsp;&nbsp;7675000 | Commercial Metals Co., 5.75%, 11/15/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;7849454 |
| &nbsp;&nbsp;&nbsp;&nbsp;8795000 | Comstock Resources, Inc., 6.75%, 3/1/29(a) | &nbsp;&nbsp;&nbsp;&nbsp;8817710 |
| &nbsp;&nbsp;&nbsp;&nbsp;3875000 | CoreWeave, Inc., 9.00%, 2/1/31(a) | &nbsp;&nbsp;&nbsp;&nbsp;3540623 |
| &nbsp;&nbsp;&nbsp;&nbsp;4080000 | CoreWeave, Inc., 9.25%, 6/1/30(a) | &nbsp;&nbsp;&nbsp;&nbsp;3794866 |
| &nbsp;&nbsp;&nbsp;&nbsp;6263000 | CrossCountry Intermediate HoldCo LLC, 6.50%, 10/1/30(a) | &nbsp;&nbsp;&nbsp;&nbsp;6393923 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay High Yield Bond Fund (cont.)

------

December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| $4829000 | CSC Holdings LLC, 11.25%, 5/15/28(a) | $3831544 |
| &nbsp;&nbsp;2644000 | Dealer Tire LLC / DT Issuer LLC, 8.00%, 2/1/28(a) | &nbsp;&nbsp;&nbsp;2639147 |
| &nbsp;&nbsp;3000000 | Delek Logistics Partners LP / Delek Logistics Finance Corp., 8.63%, 3/15/29(a) | &nbsp;&nbsp;&nbsp;3135858 |
| &nbsp;&nbsp;5803000 | Directv Financing LLC, 8.88%, 2/1/30(a) | &nbsp;&nbsp;&nbsp;5870915 |
| &nbsp;&nbsp;1275000 | Directv Financing LLC / Directv Financing Co.-Obligor, Inc., 10.00%, 2/15/31(a) | &nbsp;&nbsp;&nbsp;1303316 |
| &nbsp;&nbsp;1522000 | Directv Financing LLC / Directv Financing Co-Obligor, Inc., 5.88%, 8/15/27(a) | &nbsp;&nbsp;&nbsp;1530467 |
| &nbsp;&nbsp;2520000 | Discovery Communications LLC, 3.95%, 3/20/28 | &nbsp;&nbsp;&nbsp;2476474 |
| &nbsp;&nbsp;5410000 | Discovery Communications LLC, 5.00%, 9/20/37 | &nbsp;&nbsp;&nbsp;4331389 |
| &nbsp;&nbsp;8000000 | DISH DBS Corp., 5.75%, 12/1/28(a) | &nbsp;&nbsp;&nbsp;7827587 |
| &nbsp;&nbsp;5302000 | Domtar Corp., 6.75%, 10/1/28(a) | &nbsp;&nbsp;&nbsp;4450329 |
| &nbsp;&nbsp;9753000 | Element Solutions, Inc., 3.88%, 9/1/28(a) | &nbsp;&nbsp;&nbsp;9541387 |
| &nbsp;&nbsp;6369000 | Energizer Holdings, Inc., 6.00%, 9/15/33(a) | &nbsp;&nbsp;&nbsp;6106384 |
| &nbsp;&nbsp;5132000 | Enviri Corp., 5.75%, 7/31/27(a) | &nbsp;&nbsp;&nbsp;5138103 |
| &nbsp;&nbsp;2305000 | EW Scripps Co. (The), 9.88%, 8/15/30(a) | &nbsp;&nbsp;&nbsp;2301104 |
| &nbsp;&nbsp;3985000 | Focus Financial Partners LLC, 6.75%, 9/15/31(a) | &nbsp;&nbsp;&nbsp;4121148 |
| &nbsp;&nbsp;8304000 | Ford Motor Credit Co. LLC, 2.70%, 8/10/26 | &nbsp;&nbsp;&nbsp;8213074 |
| &nbsp;&nbsp;2982000 | Ford Motor Credit Co. LLC, 5.85%, 5/17/27 | &nbsp;&nbsp;&nbsp;3027110 |
| &nbsp;&nbsp;5304000 | Forestar Group, Inc., 5.00%, 3/1/28(a) | &nbsp;&nbsp;&nbsp;5300807 |
| &nbsp;&nbsp;7324000 | Freedom Mortgage Holdings LLC, 7.88%, 4/1/33(a) | &nbsp;&nbsp;&nbsp;7586813 |
| &nbsp;&nbsp;5032000 | Freedom Mortgage Holdings LLC, 9.25%, 2/1/29(a) | &nbsp;&nbsp;&nbsp;5276632 |
| &nbsp;&nbsp;5178000 | Gen Digital, Inc., 6.75%, 9/30/27(a) | &nbsp;&nbsp;&nbsp;5258209 |
| &nbsp;&nbsp;7970000 | General Motors Financial Co., Inc., Series A, 5.75%, (d),(e) | &nbsp;&nbsp;&nbsp;7887133 |
| &nbsp;&nbsp;5209000 | Global Medical Response, Inc., 7.38%, 10/1/32(a) | &nbsp;&nbsp;&nbsp;5423594 |
| &nbsp;&nbsp;5107000 | Gray Media, Inc., 10.50%, 7/15/29(a) | &nbsp;&nbsp;&nbsp;5497383 |
| &nbsp;&nbsp;4801000 | Griffon Corp., 5.75%, 3/1/28 | &nbsp;&nbsp;&nbsp;4809393 |
| &nbsp;&nbsp;4389000 | HA Sustainable Infrastructure Capital, Inc., 8.00%, 6/1/56(d) | &nbsp;&nbsp;&nbsp;4577625 |
| &nbsp;&nbsp;3527000 | Herc Holdings, Inc., 5.75%, 3/15/31(a) | &nbsp;&nbsp;&nbsp;3577598 |
| &nbsp;&nbsp;2120000 | Herc Holdings, Inc., 7.00%, 6/15/30(a) | &nbsp;&nbsp;&nbsp;2229778 |
| &nbsp;&nbsp;3779000 | Hilton Grand Vacations Borrower LLC / Hilton Grand Vacations Borrower, Inc., 6.63%, 1/15/32(a) | &nbsp;&nbsp;&nbsp;3876021 |
| &nbsp;&nbsp;4608000 | Howard Midstream Energy Partners LLC, 6.63%, 1/15/34(a) | &nbsp;&nbsp;&nbsp;4714635 |
| &nbsp;&nbsp;9606000 | Iron Mountain, Inc., REIT, 4.88%, 9/15/27(a) | &nbsp;&nbsp;&nbsp;9593293 |
| &nbsp;&nbsp;9053000 | Jefferies Finance LLC / JFIN Co-Issuer Corp., 5.00%, 8/15/28(a) | &nbsp;&nbsp;&nbsp;8713128 |
| &nbsp;&nbsp;5572000 | JetBlue Airways Corp. / JetBlue Loyalty LP, 9.88%, 9/20/31(a) | &nbsp;&nbsp;&nbsp;5612456 |
| &nbsp;&nbsp;3842000 | K Hovnanian Enterprises, Inc., 8.00%, 4/1/31(a) | &nbsp;&nbsp;&nbsp;3918512 |
| &nbsp;&nbsp;4392000 | K Hovnanian Enterprises, Inc., 8.38%, 10/1/33(a) | &nbsp;&nbsp;&nbsp;4462646 |
| &nbsp;&nbsp;6218000 | Kodiak Gas Services LLC, 6.50%, 10/1/33(a) | &nbsp;&nbsp;&nbsp;6347078 |
| &nbsp;&nbsp;7502000 | Kraken Oil & Gas Partners LLC, 7.63%, 8/15/29(a) | &nbsp;&nbsp;&nbsp;7420978 |
| &nbsp;&nbsp;5758000 | LBM Acquisition LLC, 6.25%, 1/15/29(a) | &nbsp;&nbsp;&nbsp;5185496 |
| &nbsp;&nbsp;9316000 | LBM Acquisition LLC, 9.50%, 6/15/31(a) | &nbsp;&nbsp;&nbsp;9682676 |
| &nbsp;&nbsp;4936000 | Leeward Renewable Energy Operations LLC, 4.25%, 7/1/29(a) | &nbsp;&nbsp;&nbsp;4684237 |
| &nbsp;&nbsp;8925000 | Level 3 Financing, Inc., 6.88%, 6/30/33(a) | &nbsp;&nbsp;&nbsp;9133843 |
| &nbsp;&nbsp;3478000 | LifePoint Health, Inc., 9.88%, 8/15/30(a) | &nbsp;&nbsp;&nbsp;3748938 |
| &nbsp;&nbsp;7534000 | LifePoint Health, Inc., 11.00%, 10/15/30(a) | &nbsp;&nbsp;&nbsp;8261089 |
| &nbsp;&nbsp;5793000 | Lightning Power LLC, 7.25%, 8/15/32(a) | &nbsp;&nbsp;&nbsp;6160748 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay High Yield Bond Fund (cont.)

------

December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| &nbsp;&nbsp;$6823000 | Lindblad Expeditions LLC, 7.00%, 9/15/30(a) | &nbsp;&nbsp;$7113270 |
| &nbsp;&nbsp;&nbsp;&nbsp;4118000 | Long Ridge Energy LLC, 8.75%, 2/15/32(a) | &nbsp;&nbsp;&nbsp;&nbsp;4381043 |
| &nbsp;&nbsp;&nbsp;&nbsp;5462307 | Lumen Technologies, Inc., 4.13%, 4/15/29(a) | &nbsp;&nbsp;&nbsp;&nbsp;5440166 |
| &nbsp;&nbsp;&nbsp;&nbsp;4151000 | Macy's Retail Holdings LLC, 6.13%, 3/15/32(a) | &nbsp;&nbsp;&nbsp;&nbsp;4187601 |
| &nbsp;&nbsp;&nbsp;&nbsp;6691000 | Marriott Ownership Resorts, Inc., 6.50%, 10/1/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;6426161 |
| &nbsp;&nbsp;&nbsp;&nbsp;4446000 | McGraw-Hill Education, Inc., 5.75%, 8/1/28(a) | &nbsp;&nbsp;&nbsp;&nbsp;4467317 |
| &nbsp;&nbsp;&nbsp;&nbsp;4052000 | McGraw-Hill Education, Inc., 7.38%, 9/1/31(a) | &nbsp;&nbsp;&nbsp;&nbsp;4271261 |
| &nbsp;&nbsp;&nbsp;&nbsp;9261000 | Medline Borrower LP, 3.88%, 4/1/29(a) | &nbsp;&nbsp;&nbsp;&nbsp;9055012 |
| &nbsp;&nbsp;&nbsp;&nbsp;7885000 | MGM Resorts International, 4.75%, 10/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;7863554 |
| &nbsp;&nbsp;&nbsp;&nbsp;5954000 | Michaels Cos., Inc. (The), 5.25%, 5/1/28(a) | &nbsp;&nbsp;&nbsp;&nbsp;5721984 |
| &nbsp;&nbsp;&nbsp;&nbsp;4743000 | Millrose Properties, Inc., REIT, 6.25%, 9/15/32(a) | &nbsp;&nbsp;&nbsp;&nbsp;4789909 |
| &nbsp;&nbsp;&nbsp;&nbsp;1114000 | Millrose Properties, Inc., REIT, 6.38%, 8/1/30(a) | &nbsp;&nbsp;&nbsp;&nbsp;1139416 |
| &nbsp;&nbsp;&nbsp;&nbsp;4251000 | NCL Corp. Ltd., 5.88%, 1/15/31(a) | &nbsp;&nbsp;&nbsp;&nbsp;4236350 |
| &nbsp;&nbsp;&nbsp;&nbsp;5660000 | NCL Corp. Ltd., 6.75%, 2/1/32(a) | &nbsp;&nbsp;&nbsp;&nbsp;5797441 |
| &nbsp;&nbsp;&nbsp;&nbsp;2912000 | Neptune Bidco US, Inc., 9.29%, 4/15/29(a) | &nbsp;&nbsp;&nbsp;&nbsp;2919477 |
| &nbsp;&nbsp;&nbsp;&nbsp;6055000 | NESCO Holdings II, Inc., 5.50%, 4/15/29(a) | &nbsp;&nbsp;&nbsp;&nbsp;5976148 |
| &nbsp;&nbsp;&nbsp;&nbsp;3856000 | Newell Brands, Inc., 8.50%, 6/1/28(a) | &nbsp;&nbsp;&nbsp;&nbsp;4039120 |
| &nbsp;&nbsp;13432000 | Nissan Motor Acceptance Co. LLC, 1.85%, 9/16/26(a) | &nbsp;&nbsp;&nbsp;13093765 |
| &nbsp;&nbsp;&nbsp;&nbsp;1928000 | Nissan Motor Acceptance Co. LLC, 2.75%, 3/9/28(a) | &nbsp;&nbsp;&nbsp;&nbsp;1824247 |
| &nbsp;&nbsp;&nbsp;&nbsp;6161000 | OneMain Finance Corp., 3.50%, 1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;6101883 |
| &nbsp;&nbsp;&nbsp;&nbsp;4009000 | Osaic Holdings, Inc., 6.75%, 8/1/32(a) | &nbsp;&nbsp;&nbsp;&nbsp;4187192 |
| &nbsp;&nbsp;&nbsp;&nbsp;6986000 | Paramount Global, 6.38%, 3/30/62(d) | &nbsp;&nbsp;&nbsp;&nbsp;6532799 |
| &nbsp;&nbsp;&nbsp;&nbsp;8878000 | Planet Financial Group LLC, 10.50%, 12/15/29(a) | &nbsp;&nbsp;&nbsp;&nbsp;9287383 |
| &nbsp;&nbsp;&nbsp;&nbsp;7885000 | PRA Group, Inc., 8.88%, 1/31/30(a) | &nbsp;&nbsp;&nbsp;&nbsp;8188825 |
| &nbsp;&nbsp;&nbsp;&nbsp;5673000 | Prairie Acquiror LP, 9.00%, 8/1/29(a) | &nbsp;&nbsp;&nbsp;&nbsp;5901268 |
| &nbsp;&nbsp;&nbsp;&nbsp;4399000 | Prime Security Services Borrower LLC / Prime Finance, Inc., 3.38%, 8/31/27(a) | &nbsp;&nbsp;&nbsp;&nbsp;4318662 |
| &nbsp;&nbsp;&nbsp;&nbsp;6971000 | Raven Acquisition Holdings LLC, 6.88%, 11/15/31(a) | &nbsp;&nbsp;&nbsp;&nbsp;7191045 |
| &nbsp;&nbsp;&nbsp;&nbsp;3521000 | Rocket Mortgage LLC / Rocket Mortgage Co.-Issuer, Inc., 2.88%, 10/15/26(a) | &nbsp;&nbsp;&nbsp;&nbsp;3470207 |
| &nbsp;&nbsp;&nbsp;&nbsp;6687000 | Rocket Software, Inc., 9.00%, 11/28/28(a) | &nbsp;&nbsp;&nbsp;&nbsp;6890425 |
| &nbsp;&nbsp;&nbsp;&nbsp;6497000 | SBA Communications Corp., REIT, 3.88%, 2/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;6437374 |
| &nbsp;&nbsp;&nbsp;&nbsp;5146000 | Scripps Escrow II, Inc., 3.88%, 1/15/29(a) | &nbsp;&nbsp;&nbsp;&nbsp;4729538 |
| &nbsp;&nbsp;&nbsp;&nbsp;5884000 | Sinclair Television Group, Inc., 8.13%, 2/15/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;6152661 |
| &nbsp;&nbsp;&nbsp;&nbsp;8924000 | Sirius XM Radio LLC, 4.00%, 7/15/28(a) | &nbsp;&nbsp;&nbsp;&nbsp;8720078 |
| &nbsp;&nbsp;&nbsp;&nbsp;4237000 | Six Flags Entertainment Corp. / Canada's Wonderland Co. / Magnum Management Corp., 5.38%, 4/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;4217477 |
| &nbsp;&nbsp;&nbsp;&nbsp;2951000 | SM Energy Co., 6.75%, 8/1/29(a) | &nbsp;&nbsp;&nbsp;&nbsp;2972969 |
| &nbsp;&nbsp;&nbsp;&nbsp;5495000 | SM Energy Co., 7.00%, 8/1/32(a) | &nbsp;&nbsp;&nbsp;&nbsp;5406786 |
| &nbsp;&nbsp;&nbsp;&nbsp;9359000 | Smyrna Ready Mix Concrete LLC, 6.00%, 11/1/28(a) | &nbsp;&nbsp;&nbsp;&nbsp;9410330 |
| &nbsp;&nbsp;&nbsp;&nbsp;6819000 | Specialty Building Products Holdings LLC / SBP Finance Corp., 7.75%, 10/15/29(a) | &nbsp;&nbsp;&nbsp;&nbsp;6661388 |
| &nbsp;&nbsp;&nbsp;&nbsp;5239000 | Standard Industries, Inc., 4.75%, 1/15/28(a) | &nbsp;&nbsp;&nbsp;&nbsp;5222600 |
| &nbsp;&nbsp;&nbsp;&nbsp;3114000 | Sunoco LP, 5.63%, 3/15/31(a) | &nbsp;&nbsp;&nbsp;&nbsp;3130370 |
| &nbsp;&nbsp;&nbsp;&nbsp;9151000 | Sunoco LP, 7.88%, (a),(d),(e) | &nbsp;&nbsp;&nbsp;&nbsp;9384385 |
| &nbsp;&nbsp;&nbsp;&nbsp;3733000 | Synergy Infrastructure Holdings LLC, 7.88%, 12/1/30(a) | &nbsp;&nbsp;&nbsp;&nbsp;3881009 |
| &nbsp;&nbsp;&nbsp;&nbsp;3822000 | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp., 7.38%, 2/15/29(a) | &nbsp;&nbsp;&nbsp;&nbsp;3949784 |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay High Yield Bond Fund (cont.)

------

December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Principal<br> Amount** |  | **Value** |
| &nbsp;&nbsp;$1837000 | Tenet Healthcare Corp., 6.13%, 10/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1844467 |
| &nbsp;&nbsp;&nbsp;&nbsp;6094000 | Under Armour, Inc., 7.25%, 7/15/30(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6112763 |
| &nbsp;&nbsp;&nbsp;&nbsp;6309000 | United Airlines, Inc., 4.63%, 4/15/29(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6274202 |
| &nbsp;&nbsp;&nbsp;&nbsp;7364000 | Uniti Group LP / Uniti Group Finance 2019, Inc. / CSL Capital LLC, REIT, 8.63%, 6/15/32(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7259841 |
| &nbsp;&nbsp;&nbsp;&nbsp;5131000 | Venture Global LNG, Inc., 9.00%, (a),(d),(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4054391 |
| &nbsp;&nbsp;&nbsp;&nbsp;3531000 | Venture Global Plaquemines LNG LLC, 6.50%, 1/15/34(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3614723 |
| &nbsp;&nbsp;&nbsp;&nbsp;6103000 | Venture Global Plaquemines LNG LLC, 7.50%, 5/1/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6596542 |
| &nbsp;&nbsp;12490000 | Vital Energy, Inc., 7.88%, 4/15/32(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12307555 |
| &nbsp;&nbsp;&nbsp;&nbsp;7337000 | VoltaGrid LLC, 7.38%, 11/1/30(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7270466 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;372649 | Voyager Aviation Holdings LLC, 8.50%, 5/9/26(a),(b),(c),(f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;7118000 | Voyager Parent LLC, 9.25%, 7/1/32(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7549872 |
| &nbsp;&nbsp;&nbsp;&nbsp;6207000 | Warnermedia Holdings, Inc., 4.28%, 3/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5449105 |
| &nbsp;&nbsp;&nbsp;&nbsp;8352000 | Warnermedia Holdings, Inc., 5.05%, 3/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5899074 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498000 | Warnermedia Holdings, Inc., 5.14%, 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;329111 |
| &nbsp;&nbsp;&nbsp;&nbsp;4759000 | White Cap Supply Holdings LLC, 7.38%, 11/15/30(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4919117 |
| &nbsp;&nbsp;&nbsp;&nbsp;4510000 | William Carter Co. (The), 7.38%, 2/15/31(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4659066 |
| &nbsp;&nbsp;&nbsp;&nbsp;5428000 | WR Grace Holdings LLC, 6.63%, 8/15/32(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5500598 |
| &nbsp;&nbsp;&nbsp;&nbsp;6675000 | WULF Compute LLC, 7.75%, 10/15/30(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6875855 |
| &nbsp;&nbsp;&nbsp;&nbsp;4092000 | XPLR Infrastructure Operating Partners LP, 7.75%, 4/15/34(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4155086 |
| &nbsp;&nbsp;&nbsp;&nbsp;4221000 | XPLR Infrastructure Operating Partners LP, 8.38%, 1/15/31(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4430386 |
| &nbsp;&nbsp;&nbsp;&nbsp;3165000 | XPLR Infrastructure Operating Partners LP, 8.63%, 3/15/33(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3326544 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;935938316 |
| **Total Corporate Bonds** | **Total Corporate Bonds** | &nbsp;&nbsp;&nbsp;**1142021080** |
| (Cost $1,125,717,884) | (Cost $1,125,717,884) |  |
| **U.S. Treasury Obligations — 0.7%** | **U.S. Treasury Obligations — 0.7%** |  |
| **United States — 0.7%** | **United States — 0.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;9060000 | U.S. Treasury Bill - When Issued, 3.55%, 6/18/26(g) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8912853 |
| **Total U.S. Treasury Obligations** | **Total U.S. Treasury Obligations** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8912853** |
| (Cost $8,913,342) | (Cost $8,913,342) |  |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  |  |
| **Common Stocks — 0.00%** | **Common Stocks — 0.00%** |  |
| **United Kingdom — 0.00%** | **United Kingdom — 0.00%** |  |
| 12023 | AVTCAP WARR(h),\* | 4797 |
| **United States — 0.00%** | **United States — 0.00%** |  |
| 70137 | Quintis Ltd.(b),(c),\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| **Total Common Stocks** | **Total Common Stocks** | **4797** |
| (Cost $3) | (Cost $3) |  |

---

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay High Yield Bond Fund (cont.)

------

December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value** |
| **Rights/Warrants — 0.00%** | **Rights/Warrants — 0.00%** |  |
| **Mexico — 0.00%** | **Mexico — 0.00%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3026 | Urbi Desarrollos Urbanos SAB de CV Warrants, Expire 12/31/49(b),(c),(h),\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$0 |
| **Total Rights/Warrants** | **Total Rights/Warrants** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**0** |
| (Cost $0) | (Cost $0) |  |
| **Investment Company — 1.9%** | **Investment Company — 1.9%** |  |
| 23091101 | RBC BlueBay U.S. Government Money Market Fund,<br> Institutional Class 1 (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23091101 |
| **Total Investment Company** | **Total Investment Company** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23091101** |
| (Cost $23,091,101) | (Cost $23,091,101) |  |
| **Total Investments** | **Total Investments** | **$1174029831** |
| (Cost $1,157,722,330) — 94.8% | (Cost $1,157,722,330) — 94.8% |  |
| **Other assets in excess of liabilities — 5.2%** | **Other assets in excess of liabilities — 5.2%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**64402090** |
| **NET ASSETS — 100.0%** | **NET ASSETS — 100.0%** | **$1238431921** |

---

------

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

(b) The Pricing Committee has fair valued this security under procedures established by the Fund's Board of Trustees.

(c) Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

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

(e) Perpetual security with no stated maturity date.

(f) Issuer filed for bankruptcy and/or is in default of interest payments.

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

(h) Security delisted or issuer in bankruptcy.

(i) Affiliated investment.

\* Non-income producing security.

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC BlueBay High Yield Bond Fund (cont.)

------

December 31, 2025 (Unaudited)

#### Credit default swaps sell protection as of December 31, 2025:

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fixed<br> Rate** | **Issuer** | **Payment<br> Frequency** | **Counter-<br> party** | **Expiration<br> Date** | **ICS%** | **Notional<br> Amount<br> (000)** | **Notional<br> Amount<br> (000)** | **Premium<br> Paid/<br> (Received)** | **Unreal.<br> App.** | **Value** |
| 5.00% | Markit CDX HY Index Series 45 | Quarterly | Morgan Stanley & Co. LLC | 12/20/30 | 3.14 | USD | 12000 | &nbsp;&nbsp;&nbsp;$899777 | $32986 | &nbsp;&nbsp;&nbsp;$932763 |
| 5.00% | Markit CDX HY Index Series 45 | Quarterly | Morgan Stanley & Co. LLC | 12/20/30 | 3.14 | USD | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;151299 | &nbsp;&nbsp;&nbsp;&nbsp;4162 | &nbsp;&nbsp;&nbsp;&nbsp;155461 |
| **Total** |  |  |  |  |  |  |  | $1051076 | $37148 | $1088224 |

---

---

| |
|:---|
| Abbreviations used are defined below: |
| ICS - Implied Credit Spread |
| REIT - Real Estate Investment Trust |
| USD - United States Dollar |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Minneapolis

  - **State:** MN

  - **Foreign country:** US

  - **Zip / Postal Code:** 55401

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

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

- **a. Name of Series:** RBC BlueBay High Yield Bond Fund

- **b. EDGAR series identifier (if any):** S000033481

- **c. LEI of Series:** 549300R60UYQ0PTUI721

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

- **a. Date of fiscal year-end:** 2026-09-30

- **b. Date as of which information is reported:** 2025-12-31

**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:** $1196004025.91

**Total Liabilities:** $734559.17

**Net Assets:** $1195269466.74

**Cash Not Reported:** $1575565.19

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 230.63000000 | **1-Year:** 2757.89000000 | **5-Year:** 1822.03000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

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

- **3-Month:** 5354.71000000 | **1-Year:** 91267.31000000 | **5-Year:** 182327.48000000 | **10-Year:** 44239.05000000 | **30-Year:** 3275.54000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000102921 | 0.11%                | 0.49%                | 0.65%                |
| Class ID C000102922 | 0.13%                | 0.50%                | 0.69%                |
| Class ID C000268419 |  |  | 0.67%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1968468.41              | $-6007566.26                               |
| Month 2  | $-1717828.45             | $1511842.46                                |
| Month 3  | $312938.36               | $1017057.99                                |

**Designated Index Information**

- **Index Name:** ICE BofA US High Yield Index

- **Index Identifier:** H0A0

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| MORGAN STANLEY & CO. LLC                      | CDS CDX.NA.HY.45.V1                                                              | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DCR              | CORP              | US        |         1 | NC      | $155460.58    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| NEPTUNE BIDCO US INC                          | Neptune Bidco US Inc                                                             | CUSIP: 640695AA0<br>LEI: 549300VG15T3VCYZ4531 | Long             | DBT              | CORP              | US        |   2912000 | PA      | $2919477.39   | 0.24%             | 2029-04-15      | Fixed         | 9.29%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                  | Barclays PLC                                                                     | CUSIP: 06738ECN3<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   5206000 | PA      | $5882483.40   | 0.49%             | N/A             | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| JEFFERIES FIN LLC / JFIN                      | Jefferies Finance LLC / JFIN Co-Issuer Corp                                      | CUSIP: 47232MAF9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   9053000 | PA      | $8713127.67   | 0.73%             | 2028-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CIVITAS RESOURCES INC                         | Civitas Resources Inc                                                            | CUSIP: 17888HAD5<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |   5675000 | PA      | $6117663.83   | 0.51%             | 2033-06-15      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| GARDA WORLD SECURITY                          | Garda World Security Corp                                                        | CUSIP: 36485MAP4<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |   2992000 | PA      | $3052214.78   | 0.26%             | 2032-11-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                          | Cleveland-Cliffs Inc                                                             | CUSIP: 185899AR2<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |   4704000 | PA      | $4890391.07   | 0.41%             | 2033-05-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR ACCEPTANCE                       | Nissan Motor Acceptance Co LLC                                                   | CUSIP: 65480CAC9<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |  13432000 | PA      | $13093765.11  | 1.10%             | 2026-09-16      | Fixed         | 1.85%                 | No            |                  2 | On Loan: No      |
| DOMTAR CORP                                   | Domtar Corp                                                                      | CUSIP: 70478JAA2<br>LEI: XYSIJOU3HNVROZWNA008 | Long             | DBT              | CORP              | US        |   5302000 | PA      | $4450328.55   | 0.37%             | 2028-10-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO LLC                           | Sirius XM Radio LLC                                                              | CUSIP: 82967NBJ6<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |   8924000 | PA      | $8720077.90   | 0.73%             | 2028-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BANCO BILBAO VIZCAYA ARG                      | Banco Bilbao Vizcaya Argentaria SA                                               | CUSIP: 05946KAS0<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |   9032000 | PA      | $9673475.94   | 0.81%             | N/A             | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                      | Warnermedia Holdings Inc                                                         | CUSIP: 55903VBQ5<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |   6207000 | PA      | $5449105.12   | 0.46%             | 2032-03-15      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| LBM ACQUISITION LLC                           | LBM Acquisition LLC                                                              | CUSIP: 05552BAA4<br>LEI: 549300FAEB3VWZL4NI86 | Long             | DBT              | CORP              | US        |   5758000 | PA      | $5185496.05   | 0.43%             | 2029-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                         | Venture Global Plaquemines LNG LLC                                               | CUSIP: 922966AC0<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |   3531000 | PA      | $3614723.01   | 0.30%             | 2034-01-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| LEEWARD RENEWABL                              | Leeward Renewable Energy Operations LLC                                          | CUSIP: 524590AA4<br>LEI: 254900EVJU1A57NUX379 | Long             | DBT              | CORP              | US        |   4936000 | PA      | $4684237.44   | 0.39%             | 2029-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| QUINTIS AUS PTY LTD                           | Quintis Australia Pty Ltd                                                        | CUSIP: 74877UAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | AU        |    220972 | PA      | $17456.79     | 0.00%             | 2026-10-01      | Fixed         | 7.50%                 | No            |                  3 | On Loan: No      |
| COMSTOCK RESOURCES INC                        | Comstock Resources Inc                                                           | CUSIP: 205768AS3<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |   8795000 | PA      | $8817710.18   | 0.74%             | 2029-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                       | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                     | CUSIP: 87470LAL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3822000 | PA      | $3949784.49   | 0.33%             | 2029-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| VOYAGER AVIATION HOLD                         | Voyager Aviation Holdings LLC                                                    | CUSIP: 92918XAA3<br>LEI: 549300KHOKL1CX4NIJ92 | Long             | DBT              | CORP              | US        |    372649 | PA      | $0.37         | 0.00%             | 2026-05-09      | Fixed         | 8.50%                 | No            |                  3 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                      | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAH9<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |   3681000 | PA      | $3899117.37   | 0.33%             | 2033-03-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CARVANA CO                                    | Carvana Co                                                                       | CUSIP: 146869AN2<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |   1247500 | PA      | $1307617.75   | 0.11%             | 2030-06-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| ROCKETMTGE CO-ISSUER INC                      | Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc                              | CUSIP: 77313LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3521000 | PA      | $3470207.31   | 0.29%             | 2026-10-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| ROCKET SOFTWARE INC                           | Rocket Software Inc                                                              | CUSIP: 77314EAB4<br>LEI: 549300PVG26ISP5X1556 | Long             | DBT              | CORP              | US        |   6687000 | PA      | $6890424.86   | 0.58%             | 2028-11-28      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| HILTON GRAND VAC LLC/INC                      | Hilton Grand Vacations Borrower LLC / Hilton Grand Vacations Borrower Inc        | CUSIP: 43283QAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3779000 | PA      | $3876020.52   | 0.32%             | 2032-01-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                        | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPBT9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7483000 | PA      | $7474492.71   | 0.63%             | 2027-05-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| SIX FLAGS/CANADA WON                          | Six Flags Entertainment Corp / Canada's Wonderland Co / Magnum Management Corp   | CUSIP: 150190AB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4237000 | PA      | $4217477.01   | 0.35%             | 2027-04-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| ARDONAGH FINCO LTD                            | Ardonagh Finco Ltd                                                               | CUSIP: 039853AA4<br>LEI: 254900D2T84O1K03BA28 | Long             | DBT              | CORP              | JE        |   7614000 | PA      | $7980954.11   | 0.67%             | 2031-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| XPLR INFRAST OPERATING                        | XPLR Infrastructure Operating Partners LP                                        | CUSIP: 98380MAB1<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |   3165000 | PA      | $3326543.56   | 0.28%             | 2033-03-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| CARRIAGE SERVICES INC                         | Carriage Services Inc                                                            | CUSIP: 143905AP2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  13636000 | PA      | $13126104.76  | 1.10%             | 2029-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| XPLR INFRAST OPERATING                        | XPLR Infrastructure Operating Partners LP                                        | CUSIP: 98380MAA3<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |   4221000 | PA      | $4430386.48   | 0.37%             | 2031-01-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                         | Tenet Healthcare Corp                                                            | CUSIP: 88033GDK3<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   1837000 | PA      | $1844467.18   | 0.15%             | 2028-10-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| FORESTAR GROUP INC                            | Forestar Group Inc                                                               | CUSIP: 346232AE1<br>LEI: 549300BC2UB0GHV60V70 | Long             | DBT              | CORP              | US        |   5304000 | PA      | $5300807.03   | 0.44%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SCRIPPS ESCROW II INC                         | Scripps Escrow II Inc                                                            | CUSIP: 81105DAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5146000 | PA      | $4729538.00   | 0.40%             | 2029-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| GRAY MEDIA INC                                | Gray Media Inc                                                                   | CUSIP: 389375AM8<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |   5107000 | PA      | $5497382.82   | 0.46%             | 2029-07-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| NOVA CHEMICALS CORP                           | NOVA Chemicals Corp                                                              | CUSIP: 66977WAS8<br>LEI: 549300ZOD6N7RI2FJP09 | Long             | DBT              | CORP              | CA        |   9249000 | PA      | $9054950.22   | 0.76%             | 2029-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                        | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC            | CUSIP: 01309QAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3884000 | PA      | $3929678.79   | 0.33%             | 2031-03-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                        | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPBR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3858000 | PA      | $3862805.62   | 0.32%             | 2026-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| AXALTA COATING SYSTEMS                        | Axalta Coating Systems LLC                                                       | CUSIP: 05453GAC9<br>LEI: 549300G80QONCHILSF69 | Long             | DBT              | CORP              | US        |   4399000 | PA      | $4227979.46   | 0.35%             | 2029-02-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| MINERAL RESOURCES LTD                         | Mineral Resources Ltd                                                            | CUSIP: 603051AE3<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |   4896000 | PA      | $5144818.17   | 0.43%             | 2028-10-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| AMERICAN AXLE & MFG INC                       | American Axle & Manufacturing Inc                                                | CUSIP: 02406PBD1<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |   7544000 | PA      | $7685166.95   | 0.64%             | 2033-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| SM ENERGY CO                                  | SM Energy Co                                                                     | CUSIP: 78454LAX8<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |   2951000 | PA      | $2972969.26   | 0.25%             | 2029-08-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| MCGRAW-HILL EDUCATION                         | McGraw-Hill Education Inc                                                        | CUSIP: 57767XAA8<br>LEI: 254900U6YJ9QZ4IQOR26 | Long             | DBT              | CORP              | US        |   4446000 | PA      | $4467317.26   | 0.37%             | 2028-08-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                        | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCT8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6156000 | PA      | $6278864.96   | 0.53%             | 2031-03-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                            | Ally Financial Inc                                                               | CUSIP: 02005NBM1<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   6779000 | PA      | $6694903.74   | 0.56%             | N/A             | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA RESOURCES CRP                      | California Resources Corp                                                        | CUSIP: 13057QAL1<br>LEI: 5493003Q8F0T4F4YMR48 | Long             | DBT              | CORP              | US        |   6482000 | PA      | $6397570.82   | 0.54%             | 2034-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CONNECT FINCO SARL/CONNE                      | Connect Finco SARL / Connect US Finco LLC                                        | CUSIP: 20752TAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   5746000 | PA      | $6102399.06   | 0.51%             | 2029-09-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| SINCLAIR TELEVISION GROU                      | Sinclair Television Group Inc                                                    | CUSIP: 829259BH2<br>LEI: 549300CQGEN0CH65UD62 | Long             | DBT              | CORP              | US        |   5884000 | PA      | $6152661.48   | 0.51%             | 2033-02-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| TOUCAN FINCO LTD/CAN/US                       | Toucan FinCo Ltd/Toucan FinCo Can Inc/Toucan FinCo US LLC                        | CUSIP: 89157UAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |  13432000 | PA      | $13416871.06  | 1.12%             | 2030-05-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                          | OneMain Finance Corp                                                             | CUSIP: 682691AB6<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |   6161000 | PA      | $6101883.50   | 0.51%             | 2027-01-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| AVIS BUDGET CAR/FINANCE                       | Avis Budget Car Rental LLC / Avis Budget Finance Inc                             | CUSIP: 053773BC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6641000 | PA      | $6635912.38   | 0.56%             | 2027-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NEW GOLD INC                                  | New Gold Inc                                                                     | CUSIP: 644535AJ5<br>LEI: 5493005G0GNCHP0H6L96 | Long             | DBT              | CORP              | CA        |   5977000 | PA      | $6348339.88   | 0.53%             | 2032-04-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                              | CSC Holdings LLC                                                                 | CUSIP: 126307BM8<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   4829000 | PA      | $3831544.28   | 0.32%             | 2028-05-15      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| AMERICAN NATIONAL GROUP                       | American National Group Inc                                                      | CUSIP: 025676AR8<br>LEI: 549300RK5RZQ740FPL83 | Long             | DBT              | CORP              | US        |   6035000 | PA      | $6054067.76   | 0.51%             | 2055-12-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| KODIAK GAS SERVICES LLC                       | Kodiak Gas Services LLC                                                          | CUSIP: 50012LAD6<br>LEI: 549300ZQBRWEUOVOM131 | Long             | DBT              | CORP              | US        |   6218000 | PA      | $6347078.45   | 0.53%             | 2033-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| XPLR INFRAST OPERATING                        | XPLR Infrastructure Operating Partners LP                                        | CUSIP: 98379YAA0<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |   4092000 | PA      | $4155085.92   | 0.35%             | 2034-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| MICHAELS COS INC/THE                          | Michaels Cos Inc/The                                                             | CUSIP: 55916AAA2<br>LEI: 549300H9LWMBP7HYLR98 | Long             | DBT              | CORP              | US        |   5954000 | PA      | $5721984.42   | 0.48%             | 2028-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| EW SCRIPPS CO                                 | EW Scripps Co/The                                                                | CUSIP: 811054AH8<br>LEI: 549300U1OW41QPKYW028 | Long             | DBT              | CORP              | US        |   2305000 | PA      | $2301104.43   | 0.19%             | 2030-08-15      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| ADT SEC CORP                                  | ADT Security Corp/The                                                            | CUSIP: 00109LAA1<br>LEI: 5493009JEEDYLVRA0J13 | Long             | DBT              | CORP              | US        |   3518000 | PA      | $3433612.26   | 0.29%             | 2029-08-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| DISCOVERY COMMUNICATIONS                      | Discovery Communications LLC                                                     | CUSIP: 25470DBS7<br>LEI: L2Z2MO2EQURH3BREWI15 | Long             | DBT              | CORP              | US        |   2520000 | PA      | $2476473.55   | 0.21%             | 2028-03-20      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| MINERAL RESOURCES LTD                         | Mineral Resources Ltd                                                            | CUSIP: 603051AC7<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |   3377000 | PA      | $3447361.58   | 0.29%             | 2027-11-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                        | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7201000 | PA      | $6888725.45   | 0.58%             | 2030-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| APH/APH2/APH3/AQUARIAN                        | APH Somerset Investor 2 LLC / APH2 Somerset Investor 2 LLC / APH3 Somerset Inves | CUSIP: 00188QAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6698000 | PA      | $6794761.57   | 0.57%             | 2029-11-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| MGM RESORTS INTL                              | MGM Resorts International                                                        | CUSIP: 552953CH2<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |   7885000 | PA      | $7863553.80   | 0.66%             | 2028-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MARRIOTT OWNERSHIP RESOR                      | Marriott Ownership Resorts Inc                                                   | CUSIP: 57164PAK2<br>LEI: BW4532OH033VURR0IT68 | Long             | DBT              | CORP              | US        |   6691000 | PA      | $6426160.65   | 0.54%             | 2033-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SBA COMMUNICATIONS CORP                       | SBA Communications Corp                                                          | CUSIP: 78410GAD6<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              | CORP              | US        |   6497000 | PA      | $6437373.79   | 0.54%             | 2027-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| VMED O2 UK FINAN                              | Vmed O2 UK Financing I PLC                                                       | CUSIP: 92858RAB6<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |   9462000 | PA      | $8743220.95   | 0.73%             | 2031-07-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| VOLTAGRID LLC                                 | VoltaGrid LLC                                                                    | CUSIP: 92874BAA3<br>LEI: 254900R5BEUGIKK1FM03 | Long             | DBT              | CORP              | US        |   7337000 | PA      | $7270466.07   | 0.61%             | 2030-11-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE HOLD                         | Freedom Mortgage Holdings LLC                                                    | CUSIP: 35641AAA6<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |   5032000 | PA      | $5276632.07   | 0.44%             | 2029-02-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC                             | Newell Brands Inc                                                                | CUSIP: 651229BG0<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |   3856000 | PA      | $4039119.61   | 0.34%             | 2028-06-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| MCGRAW-HILL EDUCATION                         | McGraw-Hill Education Inc                                                        | CUSIP: 58064LAA2<br>LEI: 254900U6YJ9QZ4IQOR26 | Long             | DBT              | CORP              | US        |   4052000 | PA      | $4271261.02   | 0.36%             | 2031-09-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| DIRECTV FINANCING LLC                         | Directv Financing LLC                                                            | CUSIP: 25461LAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5803000 | PA      | $5870914.59   | 0.49%             | 2030-02-01      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| FIBERCOP SPA                                  | Fibercop SpA                                                                     | CUSIP: 683879AB6<br>LEI: 8156007022402E114A31 | Long             | DBT              | CORP              | IT        |   6736000 | PA      | $6687134.90   | 0.56%             | 2033-11-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| 1261229 BC LTD                                | 1261229 BC Ltd                                                                   | CUSIP: 68288AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |  12210000 | PA      | $12717061.06  | 1.06%             | 2032-04-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| BRANDYWINE OPER PARTNERS                      | Brandywine Operating Partnership LP                                              | CUSIP: 105340AS2<br>LEI: IXBXSCONLDQ1ZI73YU71 | Long             | DBT              | CORP              | US        |   2681000 | PA      | $2889127.19   | 0.24%             | 2029-04-12      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| NESCO HOLDINGS II INC                         | NESCO Holdings II Inc                                                            | CUSIP: 64083YAA9<br>LEI: 254900FAHT0HW9T6L409 | Long             | DBT              | CORP              | US        |   6055000 | PA      | $5976148.19   | 0.50%             | 2029-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                        | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPBX0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5435000 | PA      | $5390349.94   | 0.45%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WULF COMPUTE LLC                              | WULF Compute LLC                                                                 | CUSIP: 982911AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6675000 | PA      | $6875854.60   | 0.58%             | 2030-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| BANCO MERCANTIL DE NORTE                      | Banco Mercantil del Norte SA/Grand Cayman                                        | CUSIP: 05971PAE8<br>LEI: 549300QTVYRPFHS0J362 | Long             | DBT              | CORP              | MX        |   4916000 | PA      | $5255379.79   | 0.44%             | N/A             | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                           | Medline Borrower LP                                                              | CUSIP: 62482BAA0<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |   9261000 | PA      | $9055011.79   | 0.76%             | 2029-04-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ALTICE FINANCING SA                           | Altice Financing SA                                                              | CUSIP: 02154CAF0<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | DBT              | CORP              | LU        |   5868000 | PA      | $4112416.31   | 0.34%             | 2028-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ASURION LLC/ASURION CO                        | Asurion LLC and Asurion Co-Issuer Inc                                            | CUSIP: 045941AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5698000 | PA      | $5915669.54   | 0.49%             | 2032-12-31      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                             | Herc Holdings Inc                                                                | CUSIP: 42704LAH7<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |   3527000 | PA      | $3577597.97   | 0.30%             | 2031-03-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| COMMERCIAL METALS CO                          | Commercial Metals Co                                                             | CUSIP: 201723AS2<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | DBT              | CORP              | US        |   7675000 | PA      | $7849454.25   | 0.66%             | 2033-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AMC NETWORKS INC                              | AMC Networks Inc                                                                 | CUSIP: 00164VAG8<br>LEI: 549300VGG9K75226LR46 | Long             | DBT              | CORP              | US        |   6026000 | PA      | $6314158.45   | 0.53%             | 2029-01-15      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| BANCO MERCANTIL DE NORTE                      | Banco Mercantil del Norte SA/Grand Cayman                                        | CUSIP: 05971PAD0<br>LEI: 549300QTVYRPFHS0J362 | Long             | DBT              | CORP              | MX        |   3467000 | PA      | $3635326.15   | 0.30%             | N/A             | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| DIRECTV FIN LLC/COINC                         | Directv Financing LLC / Directv Financing Co-Obligor Inc                         | CUSIP: 25461LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1522000 | PA      | $1530467.04   | 0.13%             | 2027-08-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| SMYRNA READY MIX CONCRET                      | Smyrna Ready Mix Concrete LLC                                                    | CUSIP: 85236FAA1<br>LEI: 549300S7RFWHQFOIOY93 | Long             | DBT              | CORP              | US        |   9359000 | PA      | $9410330.39   | 0.79%             | 2028-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SM ENERGY CO                                  | SM Energy Co                                                                     | CUSIP: 78454LAY6<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |   5495000 | PA      | $5406785.95   | 0.45%             | 2032-08-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| MACY'S RETAIL HLDGS LLC                       | Macy's Retail Holdings LLC                                                       | CUSIP: 55617LAR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4151000 | PA      | $4187601.23   | 0.35%             | 2032-03-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| PLANET FINANCIAL GROUP                        | Planet Financial Group LLC                                                       | CUSIP: 72702AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8878000 | PA      | $9287382.60   | 0.78%             | 2029-12-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| LINDBLAD EXPEDITIONS LLC                      | Lindblad Expeditions LLC                                                         | CUSIP: 53523LAB6<br>LEI: 549300MPUWOG67Y2R254 | Long             | DBT              | CORP              | US        |   6823000 | PA      | $7113270.43   | 0.60%             | 2030-09-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| COREWEAVE INC                                 | CoreWeave Inc                                                                    | CUSIP: 21873SAC2<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |   3875000 | PA      | $3540622.85   | 0.30%             | 2031-02-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| ALLIED UNIVERSAL HOLDCO                       | Allied Universal Holdco LLC                                                      | CUSIP: 019576AD9<br>LEI: 98450038B4549046D794 | Long             | DBT              | CORP              | US        |   7838000 | PA      | $8264262.07   | 0.69%             | 2031-02-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| DISCOVERY COMMUNICATIONS                      | Discovery Communications LLC                                                     | CUSIP: 25470DBY4<br>LEI: L2Z2MO2EQURH3BREWI15 | Long             | DBT              | CORP              | US        |   5410000 | PA      | $4331388.94   | 0.36%             | 2037-09-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JETBLUE AIRWAYS/LOYALTY                       | JetBlue Airways Corp / JetBlue Loyalty LP                                        | CUSIP: 476920AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   5572000 | PA      | $5612455.91   | 0.47%             | 2031-09-20      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| VMED O2 UK FINANCING I                        | Vmed O2 UK Financing I PLC                                                       | CUSIP: 92858RAD2<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |   2824000 | PA      | $2939447.55   | 0.25%             | 2032-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| HOWARD MIDSTREAM ENERGY                       | Howard Midstream Energy Partners LLC                                             | CUSIP: 442722AD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4608000 | PA      | $4714635.01   | 0.39%             | 2034-01-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                 | Citigroup Inc                                                                    | CUSIP: 172967QJ3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   5476000 | PA      | $5551306.09   | 0.46%             | N/A             | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| APLD COMPUTECO LLC                            | APLD ComputeCo LLC                                                               | CUSIP: 00202DAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10874000 | PA      | $10665509.57  | 0.89%             | 2030-12-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| AVTCAP WARR                                   | AVTCAP WARR                                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |     12023 | NS      | $4797.10      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GRIFFON CORPORATION                           | Griffon Corp                                                                     | CUSIP: 398433AP7<br>LEI: 5493000C2SGNC7ZN3242 | Long             | DBT              | CORP              | US        |   4801000 | PA      | $4809392.78   | 0.40%             | 2028-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| DIRECTV FIN LLC/COINC                         | Directv Financing LLC / Directv Financing Co-Obligor Inc                         | CUSIP: 25461LAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1275000 | PA      | $1303316.12   | 0.11%             | 2031-02-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| TREASURY BILL                                 | United States Treasury Bill                                                      | CUSIP: 912797TD9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9060000 | PA      | $8912852.97   | 0.75%             | 2026-06-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                            | Ally Financial Inc                                                               | CUSIP: 02005NBY5<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   5884000 | PA      | $5928417.34   | 0.50%             | 2040-01-17      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES INC                         | American Airlines Inc                                                            | CUSIP: 023771T32<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5669000 | PA      | $5794103.91   | 0.48%             | 2028-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| LBM ACQUISITION LLC                           | LBM Acquisition LLC                                                              | CUSIP: 52109SAB5<br>LEI: 549300FAEB3VWZL4NI86 | Long             | DBT              | CORP              | US        |   9316000 | PA      | $9682676.48   | 0.81%             | 2031-06-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                             | Iron Mountain Inc                                                                | CUSIP: 46284VAC5<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |   9606000 | PA      | $9593292.60   | 0.80%             | 2027-09-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                             | Herc Holdings Inc                                                                | CUSIP: 42704LAF1<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |   2120000 | PA      | $2229777.80   | 0.19%             | 2030-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| RAKUTEN GROUP INC                             | Rakuten Group Inc                                                                | CUSIP: 75102WAG3<br>LEI: 529900IMXUCQKUL1H943 | Long             | DBT              | CORP              | JP        |   4372000 | PA      | $4672682.22   | 0.39%             | 2027-02-15      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                           | NCL Corp Ltd                                                                     | CUSIP: 62886HBR1<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |   5660000 | PA      | $5797441.32   | 0.49%             | 2032-02-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| RAVEN ACQUISITION HOLDIN                      | Raven Acquisition Holdings LLC                                                   | CUSIP: 75420NAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6971000 | PA      | $7191045.29   | 0.60%             | 2031-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                      | CDS CDX.NA.HY.45.V1                                                              | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DCR              | CORP              | US        |         1 | NC      | $932763.45    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                      | Ford Motor Credit Co LLC                                                         | CUSIP: 345397B77<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   8304000 | PA      | $8213073.71   | 0.69%             | 2026-08-10      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| RBC BlueBay U.S. Government Money Market Fund | RBC BlueBay U.S. Government Money Market Fund                                    | CUSIP: 74926P696<br>LEI: 549300RFDC5U7WLJKO50 | Long             | STIV             | RF                | US        |  21857264 | NS      | $21857264.38  | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                      | Ford Motor Credit Co LLC                                                         | CUSIP: 345397E74<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   2982000 | PA      | $3027110.07   | 0.25%             | 2027-05-17      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| QUINTISEQUITY                                 | QUINTISEQUITY                                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     70137 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| 1011778 BC / NEW RED FIN                      | 1011778 BC ULC / New Red Finance Inc                                             | CUSIP: 68245XAJ8<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |  12640000 | PA      | $12556638.24  | 1.05%             | 2028-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                 | Carnival Corp                                                                    | CUSIP: 143658CB6<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   6065000 | PA      | $6137178.77   | 0.51%             | 2029-05-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| ACRISURE LLC / FIN INC                        | Acrisure LLC / Acrisure Finance Inc                                              | CUSIP: 00489LAL7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6729000 | PA      | $7006884.94   | 0.59%             | 2030-11-06      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CHART INDUSTRIES INC                          | Chart Industries Inc                                                             | CUSIP: 16115QAG5<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | DBT              | CORP              | US        |   3604000 | PA      | $3825426.43   | 0.32%             | 2031-01-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| ELEMENT SOLUTIONS INC                         | Element Solutions Inc                                                            | CUSIP: 28618MAA4<br>LEI: 549300FLGN6P5CU20J91 | Long             | DBT              | CORP              | US        |   9753000 | PA      | $9541387.34   | 0.80%             | 2028-09-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                      | Warnermedia Holdings Inc                                                         | CUSIP: 55903VBW2<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |   8352000 | PA      | $5899074.39   | 0.49%             | 2042-03-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| MILLROSE PROPERTIES INC                       | Millrose Properties Inc                                                          | CUSIP: 601137AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1114000 | PA      | $1139416.32   | 0.10%             | 2030-08-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ADVANCE AUTO PARTS                            | Advance Auto Parts Inc                                                           | CUSIP: 00751YAL0<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | DBT              | CORP              | US        |   4609000 | PA      | $4638584.92   | 0.39%             | 2033-08-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| WILLIAM CARTER                                | William Carter Co/The                                                            | CUSIP: 96926JAG2<br>LEI: TGI2A0HXEYNQPU7TYV27 | Long             | DBT              | CORP              | US        |   4510000 | PA      | $4659066.17   | 0.39%             | 2031-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| PRIME SECSRVC BRW/FINANC                      | Prime Security Services Borrower LLC / Prime Finance Inc                         | CUSIP: 74166MAF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4399000 | PA      | $4318662.28   | 0.36%             | 2027-08-31      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| ACRISURE LLC / FIN INC                        | Acrisure LLC / Acrisure Finance Inc                                              | CUSIP: 00489LAF0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4137000 | PA      | $4031942.64   | 0.34%             | 2029-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CROSSCOUNTRY INTER                            | CrossCountry Intermediate HoldCo LLC                                             | CUSIP: 22757VAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6263000 | PA      | $6393923.42   | 0.53%             | 2030-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| VOYAGER PARENT LLC                            | Voyager Parent LLC                                                               | CUSIP: 92921EAA0<br>LEI: 2549002DYVI4ACSV4V71 | Long             | DBT              | CORP              | US        |   7118000 | PA      | $7549872.40   | 0.63%             | 2032-07-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| FOCUS FINANCIAL PARTNERS                      | Focus Financial Partners LLC                                                     | CUSIP: 34417VAA5<br>LEI: 5493007L0E0VKRC2CP39 | Long             | DBT              | CORP              | US        |   3985000 | PA      | $4121147.81   | 0.34%             | 2031-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                           | NCL Corp Ltd                                                                     | CUSIP: 62886HBY6<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |   4251000 | PA      | $4236349.63   | 0.35%             | 2031-01-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ALTAGAS LTD                                   | AltaGas Ltd                                                                      | CUSIP: 021361AD2<br>LEI: 2549008X5V70MOS4HM10 | Long             | DBT              | CORP              | CA        |   3489000 | PA      | $3610756.67   | 0.30%             | 2054-10-15      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| UNDER ARMOUR INC                              | Under Armour Inc                                                                 | CUSIP: 904311AD9<br>LEI: 549300D4549QKWETZ406 | Long             | DBT              | CORP              | US        |   6094000 | PA      | $6112762.63   | 0.51%             | 2030-07-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                  | Barclays PLC                                                                     | CUSIP: 06738EBX2<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   4616000 | PA      | $4912028.08   | 0.41%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| KIOXIA HOLDINGS CORP                          | Kioxia Holdings Corp                                                             | CUSIP: 49726JAA6<br>LEI: 35380080RTKRARNH4R73 | Long             | DBT              | CORP              | JP        |   5784000 | PA      | $5955101.77   | 0.50%             | 2030-07-24      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| DIG INTL FIN/DIFL US LLC                      | Digicel International Finance Ltd / Difl US LLC                                  | CUSIP: 25381MAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   6259000 | PA      | $6497223.95   | 0.54%             | 2032-08-01      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| KIOXIA HOLDINGS CORP                          | Kioxia Holdings Corp                                                             | CUSIP: 49726JAB4<br>LEI: 35380080RTKRARNH4R73 | Long             | DBT              | CORP              | JP        |   4958000 | PA      | $5161637.91   | 0.43%             | 2033-07-24      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| COREWEAVE INC                                 | CoreWeave Inc                                                                    | CUSIP: 21873SAB4<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |   4080000 | PA      | $3794865.77   | 0.32%             | 2030-06-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                        | Venture Global LNG Inc                                                           | CUSIP: 92332YAF8<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |   5131000 | PA      | $4054390.87   | 0.34%             | N/A             | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| AMERITEX HOLDCO INTERMED                      | AmeriTex HoldCo Intermediate LLC                                                 | CUSIP: 030727AB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6559000 | PA      | $6902212.32   | 0.58%             | 2033-08-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| VODAFONE GROUP PLC                            | Vodafone Group PLC                                                               | CUSIP: 92857WBW9<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |   5025000 | PA      | $4699258.94   | 0.39%             | 2081-06-04      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| OSAIC HOLDINGS INC                            | Osaic Holdings Inc                                                               | CUSIP: 00791GAB3<br>LEI: 549300XL60BDV6UW5C86 | Long             | DBT              | CORP              | US        |   4009000 | PA      | $4187191.66   | 0.35%             | 2032-08-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| NOVA CHEMICALS CORP                           | NOVA Chemicals Corp                                                              | CUSIP: 66977WAU3<br>LEI: 549300ZOD6N7RI2FJP09 | Long             | DBT              | CORP              | CA        |   3456000 | PA      | $3690626.69   | 0.31%             | 2030-02-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| RAKUTEN GROUP INC                             | Rakuten Group Inc                                                                | CUSIP: 75102WAK4<br>LEI: 529900IMXUCQKUL1H943 | Long             | DBT              | CORP              | JP        |   4553000 | PA      | $5093015.71   | 0.43%             | 2029-04-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| URBI DESARROLLOS URBANOS SAB DE CV            | URBI DESARROLLOS URBANOS SAB DE CV WARRANTS                                      | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | MX        |      3026 | NC      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| AVANTOR FUNDING INC                           | Avantor Funding Inc                                                              | CUSIP: 05352TAB5<br>LEI: 5493003VM0XB4U8YD238 | Long             | DBT              | CORP              | US        |   4065000 | PA      | $3889865.78   | 0.33%             | 2029-11-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                      | Warnermedia Holdings Inc                                                         | CUSIP: 55903VBU6<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    498000 | PA      | $329111.18    | 0.03%             | 2052-03-15      | Fixed         | 5.14%                 | No            |                  2 | On Loan: No      |
| ENVIRI CORP                                   | Enviri Corp                                                                      | CUSIP: 415864AM9<br>LEI: KAO98FK89NPNNPQGUZ43 | Long             | DBT              | CORP              | US        |   5132000 | PA      | $5138103.25   | 0.43%             | 2027-07-31      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AMERIGAS PART/FIN CORP                        | AmeriGas Partners LP / AmeriGas Finance Corp                                     | CUSIP: 030981AM6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   9124000 | PA      | $9437760.08   | 0.79%             | 2028-06-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| PRA GROUP INC                                 | PRA Group Inc                                                                    | CUSIP: 69354NAF3<br>LEI: 549300Q5HW3JSSB86K27 | Long             | DBT              | CORP              | US        |   7885000 | PA      | $8188825.38   | 0.69%             | 2030-01-31      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| WR GRACE HOLDING LLC                          | WR Grace Holdings LLC                                                            | CUSIP: 92943GAF8<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |   5428000 | PA      | $5500597.68   | 0.46%             | 2032-08-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| GLOBAL MEDICAL RESPONSE                       | Global Medical Response Inc                                                      | CUSIP: 37960BAD7<br>LEI: 549300ZFWD4ZFCEJCQ87 | Long             | DBT              | CORP              | US        |   5209000 | PA      | $5423593.94   | 0.45%             | 2032-10-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| DELEK LOG PART/FINANCE                        | Delek Logistics Partners LP / Delek Logistics Finance Corp                       | CUSIP: 24665FAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3135858.49   | 0.26%             | 2029-03-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| FORVIA SE                                     | Forvia SE                                                                        | CUSIP: 31209DAC9<br>LEI: 969500F0VMZLK2IULV85 | Long             | DBT              | CORP              | FR        |   4173000 | PA      | $4293075.20   | 0.36%             | 2033-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BEACH ACQUISITION BIDCO                       | Beach Acquisition Bidco LLC                                                      | CUSIP: 07337JAC1<br>LEI: 254900F2FNX3GBTB6202 | Long             | DBT              | CORP              | US        |   5881000 | PA      | $6465146.71   | 0.54%             | 2033-07-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                         | Caesars Entertainment Inc                                                        | CUSIP: 12769GAB6<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |   6375000 | PA      | $6601863.25   | 0.55%             | 2030-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ALBION FINANCING 1SARL /                      | Albion Financing 1 SARL / Aggreko Holdings Inc                                   | CUSIP: 01330AAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |   3871000 | PA      | $4038207.85   | 0.34%             | 2030-05-21      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                        | General Motors Financial Co Inc                                                  | CUSIP: 37045XCA2<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   7970000 | PA      | $7887133.50   | 0.66%             | N/A             | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR ACCEPTANCE                       | Nissan Motor Acceptance Co LLC                                                   | CUSIP: 654740BT5<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |   1928000 | PA      | $1824246.75   | 0.15%             | 2028-03-09      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| ANYWHERE REAL EST/CO-ISS                      | Anywhere Real Estate Group LLC / Anywhere Co-Issuer Corp                         | CUSIP: 75606DAS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   9096167 | PA      | $9099747.93   | 0.76%             | 2030-04-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                         | Level 3 Financing Inc                                                            | CUSIP: 527298CM3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |   8925000 | PA      | $9133842.63   | 0.76%             | 2033-06-30      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                | Bombardier Inc                                                                   | CUSIP: 097751CD1<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |   3914000 | PA      | $4140722.16   | 0.35%             | 2033-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| LONG RIDGE ENERGY LLC                         | Long Ridge Energy LLC                                                            | CUSIP: 54288CAA1<br>LEI: 984500764EC9AZ2FC764 | Long             | DBT              | CORP              | US        |   4118000 | PA      | $4381042.97   | 0.37%             | 2032-02-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| LUMEN TECHNOLOGIES INC                        | Lumen Technologies Inc                                                           | CUSIP: 550241AB9<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |   5462307 | PA      | $5440165.59   | 0.46%             | 2029-04-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| BREAD FINANCIAL HLDGS                         | Bread Financial Holdings Inc                                                     | CUSIP: 018581AQ1<br>LEI: 549300G8S4PO686J7H97 | Long             | DBT              | CORP              | US        |   6436000 | PA      | $6641858.86   | 0.56%             | 2035-06-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| ILIAD HOLDING SAS                             | Iliad Holding SAS                                                                | CUSIP: 449691AC8<br>LEI: 9695009BGMXB527HV965 | Long             | DBT              | CORP              | FR        |   4691000 | PA      | $4760410.13   | 0.40%             | 2028-10-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                        | Cloud Software Group Inc                                                         | CUSIP: 88632QAE3<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |  12534000 | PA      | $12696648.57  | 1.06%             | 2029-03-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| QUINTIS AUS PTY LTD                           | Quintis Australia Pty Ltd                                                        | CUSIP: 74877UAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | AU        |    143548 | PA      | $0.00         | 0.00%             | 2028-10-01      | Fixed         | 12.00%                | No            |                  3 | On Loan: No      |
| LIGHTNING POWER LLC                           | Lightning Power LLC                                                              | CUSIP: 53229KAA7<br>LEI: 254900BWCHJ03XRL8K59 | Long             | DBT              | CORP              | US        |   5793000 | PA      | $6160747.78   | 0.52%             | 2032-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                          | LifePoint Health Inc                                                             | CUSIP: 53219LAW9<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |   7534000 | PA      | $8261089.09   | 0.69%             | 2030-10-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| GEN DIGITAL INC                               | Gen Digital Inc                                                                  | CUSIP: 668771AK4<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |   5178000 | PA      | $5258208.60   | 0.44%             | 2027-09-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                                 | DISH DBS Corp                                                                    | CUSIP: 25470XBF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8000000 | PA      | $7827586.91   | 0.65%             | 2028-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ZF NA CAPITAL                                 | ZF North America Capital Inc                                                     | CUSIP: 98877DAH8<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |   9788000 | PA      | $9904486.74   | 0.83%             | 2031-03-24      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE                              | Societe Generale SA                                                              | CUSIP: 83370RAD0<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   5648000 | PA      | $6164781.29   | 0.52%             | N/A             | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| ACUSHNET CO                                   | Acushnet Co                                                                      | CUSIP: 005095AB0<br>LEI: 549300H805O14KEFES79 | Long             | DBT              | CORP              | US        |   3582000 | PA      | $3629103.95   | 0.30%             | 2033-12-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| HUDBAY MINERALS INC                           | Hudbay Minerals Inc                                                              | CUSIP: 443628AJ1<br>LEI: 894500LX3TMESP27BE29 | Long             | DBT              | CORP              | CA        |   2895000 | PA      | $2897501.71   | 0.24%             | 2026-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PRAIRIE ACQUIROR LP                           | Prairie Acquiror LP                                                              | CUSIP: 73943NAA4<br>LEI: 254900Q6KU2LVSIISH22 | Long             | DBT              | CORP              | US        |   5673000 | PA      | $5901267.94   | 0.49%             | 2029-08-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| CMG MEDIA CORPORATION                         | CMG Media Corp                                                                   | CUSIP: 125773AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8992716 | PA      | $7725177.74   | 0.65%             | 2029-06-18      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| UNITI GROUP/CSL CAPITAL                       | Uniti Group LP / Uniti Group Finance 2019 Inc / CSL Capital LLC                  | CUSIP: 91327TAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7364000 | PA      | $7259841.32   | 0.61%             | 2032-06-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                          | LifePoint Health Inc                                                             | CUSIP: 53219LAV1<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |   3478000 | PA      | $3748937.97   | 0.31%             | 2030-08-15      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| WHITE CAP SUPPLY HOLDING                      | White Cap Supply Holdings LLC                                                    | CUSIP: 96467GAC2<br>LEI: 254900L2N0T6GULCL366 | Long             | DBT              | CORP              | US        |   4759000 | PA      | $4919116.66   | 0.41%             | 2030-11-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| SYNERGY INFRASTRUCTURE H                      | Synergy Infrastructure Holdings LLC                                              | CUSIP: 87191JAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3733000 | PA      | $3881008.95   | 0.32%             | 2030-12-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                         | Venture Global Plaquemines LNG LLC                                               | CUSIP: 922966AA4<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |   6103000 | PA      | $6596542.03   | 0.55%             | 2033-05-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                      | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAF3<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |   4560000 | PA      | $4809235.44   | 0.40%             | 2030-04-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                      | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBN9<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   5100000 | PA      | $5573559.15   | 0.47%             | 2032-01-15      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| VIRGIN MEDIA FINANCE PLC                      | Virgin Media Finance PLC                                                         | CUSIP: 92769VAJ8<br>LEI: 2138001LVYC87DDHT482 | Long             | DBT              | CORP              | GB        |  10076000 | PA      | $8883226.93   | 0.74%             | 2030-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRI INC/NY                      | Standard Industries Inc/NY                                                       | CUSIP: 853496AD9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5239000 | PA      | $5222599.62   | 0.44%             | 2028-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| K HOVNANIAN ENTERPRISES                       | K Hovnanian Enterprises Inc                                                      | CUSIP: 48251UAQ1<br>LEI: 549300JJCQ0KAI7CJG32 | Long             | DBT              | CORP              | US        |   4392000 | PA      | $4462645.75   | 0.37%             | 2033-10-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE HOLD                         | Freedom Mortgage Holdings LLC                                                    | CUSIP: 35641AAD0<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |   7324000 | PA      | $7586813.02   | 0.63%             | 2033-04-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                     | Sunoco LP                                                                        | CUSIP: 86765KAE9<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |   9151000 | PA      | $9384384.79   | 0.79%             | N/A             | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| BOOST NEWCO BORROWER LLC                      | Boost Newco Borrower LLC                                                         | CUSIP: 36268NAA8<br>LEI: 254900S8RE1OL7TTCU64 | Long             | DBT              | CORP              | US        |   5848000 | PA      | $6215804.03   | 0.52%             | 2031-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| HA SUSTAINABLE INF CAP                        | HA Sustainable Infrastructure Capital Inc                                        | CUSIP: 41068XAG5<br>LEI: 254900ZZRL7MWL1X8E92 | Long             | DBT              | CORP              | US        |   4389000 | PA      | $4577625.03   | 0.38%             | 2056-06-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL                              | Paramount Global                                                                 | CUSIP: 92556HAE7<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |   6986000 | PA      | $6532798.97   | 0.55%             | 2062-03-30      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ENERGIZER HOLDINGS INC                        | Energizer Holdings Inc                                                           | CUSIP: 29272WAG4<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |   6369000 | PA      | $6106383.83   | 0.51%             | 2033-09-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| VITAL ENERGY INC                              | Vital Energy Inc                                                                 | CUSIP: 516806AK2<br>LEI: 549300X0PTWU2QSLSL14 | Long             | DBT              | CORP              | US        |  12490000 | PA      | $12307554.86  | 1.03%             | 2032-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| ZIGGO BOND CO BV                              | Ziggo Bond Co BV                                                                 | CUSIP: 98953GAD7<br>LEI: 213800JYI4P7V5QDOG59 | Long             | DBT              | CORP              | NL        |   2976000 | PA      | $2657131.05   | 0.22%             | 2030-02-28      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| MILLROSE PROPERTIES INC                       | Millrose Properties Inc                                                          | CUSIP: 601137AB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4743000 | PA      | $4789909.21   | 0.40%             | 2032-09-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| SPECIALTY BUILDING PRODU                      | Specialty Building Products Holdings LLC / SBP Finance Corp                      | CUSIP: 84749AAC1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6819000 | PA      | $6661388.26   | 0.56%             | 2029-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| AMERIGAS PART/FIN CORP                        | AmeriGas Partners LP / AmeriGas Finance Corp                                     | CUSIP: 030981AP9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7058000 | PA      | $7520740.83   | 0.63%             | 2030-06-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                      | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAG1<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |   2944000 | PA      | $3081242.31   | 0.26%             | 2031-02-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                        | Cloud Software Group Inc                                                         | CUSIP: 18912UAC6<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |   5495000 | PA      | $5751673.85   | 0.48%             | 2032-06-30      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| K HOVNANIAN ENTERPRISES                       | K Hovnanian Enterprises Inc                                                      | CUSIP: 48251UAP3<br>LEI: 549300JJCQ0KAI7CJG32 | Long             | DBT              | CORP              | US        |   3842000 | PA      | $3918511.66   | 0.33%             | 2031-04-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                        | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC            | CUSIP: 013092AC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10426000 | PA      | $10426158.57  | 0.87%             | 2027-01-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| DEALER TIRE LLC/DT ISSR                       | Dealer Tire LLC / DT Issuer LLC                                                  | CUSIP: 24229JAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2644000 | PA      | $2639146.96   | 0.22%             | 2028-02-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                     | Sunoco LP                                                                        | CUSIP: 86765KAF6<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |   3114000 | PA      | $3130369.99   | 0.26%             | 2031-03-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| KRAKEN OIL & GAS PARTNER                      | Kraken Oil & Gas Partners LLC                                                    | CUSIP: 50076PAA6<br>LEI: 549300DR5HSL4YAU3X12 | Long             | DBT              | CORP              | US        |   7502000 | PA      | $7420977.59   | 0.62%             | 2029-08-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| UNITED AIRLINES INC                           | United Airlines Inc                                                              | CUSIP: 90932LAH0<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |   6309000 | PA      | $6274202.43   | 0.52%             | 2029-04-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-24

**Name of Applicant:** RBC Funds Trust

**Signature:** Kathy Hegna

**Name of Signer:** Kathy Hegna

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