RBB Fund NPORT-P SGI Enhanced Global Income ETF (May 2024 report)

SGI Enhanced Global Income ETF
Schedule of Investments
as of May 31, 2024 (Unaudited)
COMMON STOCKS - 94.6%	Shares		Value
Aerospace/Defense - 0.5%
Lockheed Martin Corp.		581	$	273,268
Airlines - 0.4%
Ryanair Holdings PLC - ADR		1,694		206,058
Apparel - 0.5%
NIKE, Inc. - Class B		2,778		264,049
Auto Manufacturers - 1.4%
Ford Motor Co.		23,811		288,827
Honda Motor Co., Ltd. - ADR		7,859		266,577
PACCAR, Inc.		2,349		252,518
				807,922
Banks - 8.2%
Banco Bilbao Vizcaya Argentaria SA - ADR		65,996		720,016
Banco Santander SA - ADR		54,512		285,643
Bank of New York Mellon Corp.		4,776		284,697
ICICI Bank Ltd. - ADR		15,905		425,300
ING Groep NV - ADR		17,126		306,384
JPMorgan Chase & Co.		2,919		591,477
Shinhan Financial Group Co., Ltd. - ADR		47,147		1,621,857
UBS Group AG		14,164		451,548
				4,686,922
Beverages - 3.4%
Coca-Cola Co.		5,671		356,876
Coca-Cola Femsa SAB de CV - ADR		16,806		1,574,050
				1,930,926
Building Materials - 1.0%
CRH PLC		3,136		256,399
UFP Industries, Inc.		2,530		302,285
				558,684
Commercial Services - 0.9%
Automatic Data Processing, Inc.		2,036		498,657
Computers - 4.8%
Apple, Inc.		9,960		1,914,810
Crowdstrike Holdings, Inc. - Class A(a)		923		289,518
Infosys Ltd. - ADR		31,107		521,042
				2,725,370
Cosmetics/Personal Care - 0.5%
Colgate-Palmolive Co.		3,009		279,717
Distribution/Wholesale - 0.4%
Ferguson PLC		1,146		235,778
Diversified Financial Services - 4.7%
Ares Management Corp. - Class A		1,929		270,388
BlackRock, Inc.		315		243,189
Janus Henderson Group PLC		8,143		272,791
KB Financial Group, Inc. - ADR		11,230		646,174
Mastercard, Inc. - Class A		2,790		1,247,325
				2,679,867
Electric - 2.2%
Entergy Corp.		2,572		289,324
Evergy, Inc.		8,208		448,649
National Grid PLC - ADR		9,079		525,311
				1,263,284
Food - 0.4%
Sysco Corp.		3,382		246,277
Healthcare-Services - 3.8%
Centene Corp.(a)		3,360		240,542
Elevance Health, Inc.		641		345,166
UnitedHealth Group, Inc.		3,165		1,567,846
				2,153,554
Home Builders - 1.2%
DR Horton, Inc.		1,856		274,317
Lennar Corp. - Class A		2,774		444,811
				719,128
Household Products/Wares - 0.5%
Kimberly-Clark Corp.		1,993		265,667
Insurance - 4.2%
Allstate Corp.		1,724		288,804
American International Group, Inc.		3,658		288,324
Aon PLC - Class A		820		230,945
Berkshire Hathaway, Inc. - Class B(a)		672		278,477
Progressive Corp.		2,637		556,882
Prudential Financial, Inc.		4,090		492,231
Travelers Cos., Inc.		1,323		285,371
				2,421,034
Internet - 11.0%
Alibaba Group Holding Ltd. - ADR		3,782		296,282
Alphabet, Inc. - Class C(a)		11,317		1,968,705
Amazon.com, Inc.(a)		1,573		277,540
Booking Holdings, Inc.		150		566,452
GoDaddy, Inc. - Class A(a)		2,168		302,718
Meta Platforms, Inc. - Class A		4,284		1,999,900
Netflix, Inc.(a)		445		285,521
PDD Holdings, Inc. - ADR(a)		2,181		326,670
Vipshop Holdings Ltd. - ADR		16,113		258,936
				6,282,724
Iron/Steel - 0.4%
POSCO Holdings, Inc. - ADR		3,425		230,879
Machinery-Diversified - 0.4%
Deere & Co.		665		249,215
Mining - 0.6%
Rio Tinto PLC - ADR		5,158		361,576
Oil & Gas - 10.8%
Chevron Corp.		3,367		546,464
Chord Energy Corp.		6,240		1,156,958
Civitas Resources, Inc.		18,934		1,392,785
Eni SpA - ADR		8,160		257,285
EOG Resources, Inc.		4,201		523,234
Equinor ASA - ADR		63,034		1,836,811
Shell PLC - ADR		6,079		442,430
				6,155,967
Pharmaceuticals - 10.4%
Bristol-Myers Squibb Co.		9,022		370,714
Cigna Group		851		293,271
GSK PLC - ADR		28,445		1,273,483
Merck & Co., Inc.		11,029		1,384,581
Novo Nordisk AS - ADR		15,208		2,057,338
Pfizer, Inc.		10,533		301,876
Sanofi SA - ADR		4,824		236,521
				5,917,784
Private Equity - 0.5%
Brookfield Corp.		6,824		296,776
Retail - 4.3%
Home Depot, Inc.		1,073		359,315
Target Corp.		1,641		256,259
TJX Cos., Inc.		9,886		1,019,247
Walmart, Inc.		12,408		815,950
				2,450,771
Semiconductors - 5.8%
Applied Materials, Inc.		3,833		824,402
Broadcom, Inc.		183		243,125
Lam Research Corp.		1,093		1,019,157
Micron Technology, Inc.		2,242		280,250
QUALCOMM, Inc.		3,511		716,419
Skyworks Solutions, Inc.		2,458		227,758
				3,311,111
Software - 2.6%
Microsoft Corp.		1,184		491,514
NetEase, Inc. - ADR		4,833		430,282
ServiceNow, Inc.(a)		900		591,237
				1,513,033
Telecommunications - 5.1%
America Movil SAB de CV - ADR		14,844		275,208
Telefonica Brasil SA - ADR		116,365		973,975
TELUS Corp.		22,065		362,969
TIM Brasil SA - ADR		84,244		1,283,036
				2,895,188
Transportation - 3.7%
CSX Corp.		7,884		266,085
FedEx Corp.		2,282		579,537
TFI International, Inc.		3,025		400,147
Union Pacific Corp.		1,650		384,153
United Parcel Service, Inc. - Class B		3,445		478,614
				2,108,536
TOTAL COMMON STOCKS (Cost $53,851,160)				53,989,722
PREFERRED STOCKS - 3.2%	Shares		Value
Banks - 2.8%
Bancolombia SA		44,541		1,579,424
Electric - 0.4%
Cia Energetica de Minas Gerais		137,088		254,983
TOTAL PREFERRED STOCKS (Cost $1,741,321)				1,834,407
SHORT-TERM INVESTMENTS - 1.6%
Money Market Funds - 1.6%	Shares
First American Government Obligations Fund - Class X, 5.24%(b)		927,853		927,853
TOTAL SHORT-TERM INVESTMENTS (Cost $927,853)				927,853
TOTAL INVESTMENTS - 99.4% (Cost $56,520,334)			$	56,751,982
Other Assets in Excess of Liabilities - 0.6%				347,768
TOTAL NET ASSETS - 100.0%			$	57,099,750
Percentages are stated as a percent of net assets.

ADR - American Depositary Receipt

AG - Aktiengesellschaft

ASA - Advanced Subscription Agreement

NV - Naamloze Vennootschap

PLC - Public Limited Company

SA - Sociedad Anónima

SAB de CV - Sociedad Anónima Bursátil de Capital Variable

(a)	Non-income producing security.
(b)	The rate shown represents the 7-day effective yield as of May 31, 2024.

SGI Enhanced Global Income ETF
Schedule of Written Options
as of May 31, 2024 (Unaudited)
WRITTEN OPTIONS - 0.0% (a)(b)(c)	Notional Amount			Contracts			Value
Call Options - 0.0% (b)
S&P 500 Index, Expiration: 05/31/2024; Exercise Price: $5,305.00	$	(52,775,100	)		(100	)	$	(500	)
Put Options - 0.0% (b)
S&P 500 Index		0			0			–
Expiration: 05/31/2024; Exercise Price: $5,085.00		(36,942,570	)		(70	)		(350	)
Expiration: 05/31/2024; Exercise Price: $5,100.00		(222,710,922	)		(422	)		(2,110	)
Expiration: 05/31/2024; Exercise Price: $5,105.00		(79,162,650	)		(150	)		(750	)
Expiration: 05/31/2024; Exercise Price: $5,125.00		(105,550,200	)		(200	)		(500	)
Total Put Options								(3,710	)
TOTAL WRITTEN OPTIONS (Premiums received $4,051)								(4,210	)
Percentages are stated as a percent of net assets.

(a)	Exchange-traded.
(b)	Represents less than 0.05% of net assets.
(c)	100 shares per contract.

PORTFOLIO VALUATION - The Fund’s net asset value (“NAV”) is calculated once daily at the close of regular trading hours on the New York Stock Exchange (“NYSE”) (generally 4:00 p.m. Eastern time) on each day the NYSE is open. Securities held by the Fund are valued using the closing price or the last sales price on a national securities exchange or the National Association of Securities Dealers Automatic Quotation System (“NASDAQ”) market system where they are primarily traded. Equity securities traded in the over-the-counter ("OTC") market are valued at their closing prices. If there were no transactions on that day, securities traded principally on an exchange or on NASDAQ will be valued at the mean of the last bid and ask prices prior to the market close. Fixed income securities are valued using an independent pricing service, which considers such factors as security prices, yields, maturities and ratings, and are deemed representative of market values at the close of the market. Foreign securities are valued based on prices from the primary market in which they are traded, and are translated from the local currency into U.S. dollars using current exchange rates. Investments in other open-end investment companies are valued based on the NAV of those investment companies (which may use fair value pricing as discussed in their prospectuses). Options for which the primary market is a national securities exchange are valued at the last sale price on the exchange on which they are traded, or, in the absence of any sale, will be valued at the mean of the last bid and ask prices prior to the market close. Options not traded on a national securities exchange are valued at the last quoted bid price for long option positions and the closing ask price for short option positions. Forward currency exchange contracts are valued by interpolating between spot and forward currency rates as quoted by an independent pricing service. Futures contracts are generally valued using the settlement price determined by the relevant exchange. If market quotations are unavailable or deemed unreliable, securities will be valued in accordance with procedures adopted by the RBB, Fund, Inc.’s Board of Directors (the “Board”). Relying on prices supplied by pricing services or dealers or using fair valuation may result in values that are higher or lower than the values used by other investment companies and investors to price the same investments.

FAIR VALUE MEASUREMENTS - The inputs and valuation techniques used to measure the fair value of the Fund’s investments are summarized into three levels as described in the hierarchy below:

Level 1 -	Prices are determined using quoted prices in active markets for identical securities.
Level 2 -	Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3 -	Prices are determined using significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).

The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the inputs used, as of Returns the end of the date range, in valuing the Fund’s investments carried at fair value: 

	Level 1		Level 2			Level 3			Total
Assets:
Investments:
Common Stocks		53,989,722		–			–			53,989,722
Preferred Stocks		1,834,407		–			–			1,834,407
Money Market Funds		927,853		–			–			927,853
Total Investments		56,751,982		–			–			56,751,982
Liabilities:
Investments:
Written Options		–		(500	)		(3,710	)		(4,210	)
Total Investments		–		(500	)		(3,710	)		(4,210	)
Refer to the Schedule of Investments for additional information.

At the end of each quarter, management evaluates the classification of Levels 1, 2 and 3 assets and liabilities. Various factors are considered, such as changes in liquidity from the prior reporting period; whether or not a broker is willing to execute at the quoted price; the depth and consistency of prices from third party pricing services; and the existence of contemporaneous, observable trades in the market. Additionally, management evaluates the classification of Levels 1, 2 and 3 assets and liabilities on a quarterly basis for changes in listings or delistings on national exchanges.

Due to the inherent uncertainty of determining the fair value of investments that do not have a readily available market value, the fair value of the Fund’s investments may fluctuate from period to period. Additionally, the fair value of investments may differ significantly from the values that would have been used had a ready market existed for such investments and may differ materially from the values the Fund may ultimately realize. Further, such investments may be subject to legal and other restrictions on resale or otherwise less liquid than publicly traded securities.

For fair valuations using significant unobservable inputs, U.S. generally accepted accounting principles (“U.S. GAAP”) requires the Fund to present a reconciliation of the beginning to ending balances for reported market values that presents changes attributable to total realized and unrealized gains or losses, purchase and sales, and transfers in and out of Level 3 during the period. Transfers in and out between levels are based on values at the end of the period. A reconciliation of Level 3 investments is presented only when the Fund had an amount of Level 3 investments at the end of the reporting period that was meaningful in relation to its net assets. The amounts and reasons for Level 3 transfers are disclosed if the Fund had an amount of total transfers during the reporting period that was meaningful in relation to its net assets as of the end of the reporting period.

For the period ended May 31, 2024, the Fund had no Level 3 transfers.       

For more information with regard to significant accounting policies, see the most recent annual report or prospectus filed with the Securities and Exchange Commission.