0001145549-25-004967.txt : 20250129 0001145549-25-004967.hdr.sgml : 20250129 20250129114933 ACCESSION NUMBER: 0001145549-25-004967 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20241130 FILED AS OF DATE: 20250129 DATE AS OF CHANGE: 20250129 PERIOD START: 20250831 FILER: COMPANY DATA: COMPANY CONFORMED NAME: RBB FUND, INC. CENTRAL INDEX KEY: 0000831114 ORGANIZATION NAME: IRS NUMBER: 510312196 STATE OF INCORPORATION: MD FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-05518 FILM NUMBER: 25567704 BUSINESS ADDRESS: STREET 1: 615 E. MICHIGAN ST. CITY: MILWAUKEE STATE: WI ZIP: 53202 BUSINESS PHONE: 609-731-6256 MAIL ADDRESS: STREET 1: 615 E. MICHIGAN ST. CITY: MILWAUKEE STATE: WI ZIP: 53202 FORMER COMPANY: FORMER CONFORMED NAME: RBB FUND INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: FUND INC /DE/ DATE OF NAME CHANGE: 19600201 0000831114 S000074654 Motley Fool Global Opportunities ETF C000232698 Motley Fool Global Opportunities ETF TMFG NPORT-P 1 primary_doc.xml NPORT-P false 0000831114 XXXXXXXX S000074654 C000232698 RBB Fund, Inc. 811-05518 0000831114 5493005KKD0GVHSW0D29 615 East Michigan Street Milwaukee 53202 262-378-6278 Motley Fool Global Opportunities ETF S000074654 549300GUQEIKEXOTF381 2025-08-31 2024-11-30 N 544334255.600000000000 82099565.110000000000 462234690.490000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 8664160.600000000000 N Kerry Group PLC 635400TLVVBNXLFHWC59 Kerry Group PLC N/A 20005.000000000000 NS 1877252.460000000000 0.4061253944 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5752180.000000000000 1.2444284512 Long EC CORP US N 1 N N N Salesforce Inc RCGZFPDMRW58VJ54VR07 Salesforce Inc 79466L302 41246.000000000000 NS USD 13610767.540000000000 2.9445577799 Long EC CORP US N 1 N N N Starbucks Corp OQSJ1DU9TAOC51A47K68 Starbucks Corp 855244109 95516.000000000000 NS USD 9786569.360000000000 2.1172295289 Long EC CORP US N 1 N N TSMC 549300KB6NK5SBD14S87 Taiwan Semiconductor Manufacturing Co Ltd 874039100 48835.000000000000 NS USD 9017871.100000000000 1.9509291028 Long EC CORP TW N 1 N N N U.S. Bank Money Market Deposit Account N/A U.S. Bank Money Market Deposit Account 8AMMF0A92 22344084.060000000000 NS USD 22344084.060000000000 4.8339262543 Long STIV RF US N 1 N N N Waste Connections Inc 549300HDLRTPBQU69P29 Waste Connections Inc 94106B101 103729.000000000000 NS USD 19964720.630000000000 4.3191740128 Long EC CORP CA N 1 N N N Waters Corp 5T547R1474YC9HOD8Q74 Waters Corp 941848103 22100.000000000000 NS USD 8502312.000000000000 1.8393928831 Long EC CORP US N 1 N N Watsco Inc 549300F1Y3LN5BX5WN75 Watsco Inc 942622200 33355.000000000000 NS USD 18398618.000000000000 3.9803628716 Long EC CORP US N 1 N N Yum China Holdings Inc 529900DO9BYZ7VA3K502 Yum China Holdings Inc 98850P109 221686.000000000000 NS USD 10319483.300000000000 2.2325203003 Long EC CORP CN N 1 N N Mount Vernon Liquid Assets Portfolio, LLC N/A Mount Vernon Liquid Assets Portfolio, LLC N/A 81174013.350000000000 NS USD 81174013.350000000000 17.5612118736 Long STIV PF US N N/A N N London Stock Exchange Group PL 213800QAUUUP6I445N30 London Stock Exchange Group PLC G5689U103 91262.000000000000 NS 13087362.610000000000 2.8313241908 Long EC CORP GB N 1 N N N System1 Group PLC 213800TDLR42C3Q9ZB74 System1 Group PLC N/A 448809.000000000000 NS 3569273.370000000000 0.7721777364 Long EC CORP GB N 1 N N N Symrise AG 529900D82I6R9601CF26 Symrise AG N/A 83152.000000000000 NS 9182483.360000000000 1.9865413715 Long EC CORP DE N 1 N N N Safaricom PLC 984500A80B648A7B9717 Safaricom PLC N/A 4000000.000000000000 NS 462427.750000000000 0.1000417666 Long EC CORP KE N 1 N N N NMC Health PLC 2138008YQEVWBE1V2M52 NMC Health PLC G65836101 485482.000000000000 NS .000000000000 0.0000000000 Long EC CORP AE N 3 N N N Universal Music Group NV 724500GJBUL3D9TW9Y18 Universal Music Group NV N/A 164228.000000000000 NS 3958618.490000000000 0.8564087836 Long EC CORP NL N 1 N N N Alphabet Inc 5493006MHB84DD0ZWV18 Alphabet Inc 02079K107 96753.000000000000 NS USD 16495418.970000000000 3.5686241880 Long EC CORP US N 1 N N N Amazon.com Inc ZXTILKJKG63JELOEG630 Amazon.com Inc 023135106 111669.000000000000 NS USD 23214868.410000000000 5.0223120176 Long EC CORP US N 1 N N N American Tower Corp 5493006ORUSIL88JOE18 American Tower Corp 03027X100 64526.000000000000 NS USD 13485934.000000000000 2.9175512521 Long EC CORP US N 1 N N N Atlassian Corp 549300V7ZY5P02D2MY38 Atlassian Corp 049468101 40731.000000000000 NS USD 10735876.980000000000 2.3226030415 Long EC CORP AU N 1 N N N Axon Enterprise Inc 549300QP2IEEGFE16681 Axon Enterprise Inc 05464C101 30863.000000000000 NS USD 19967126.480000000000 4.3196944952 Long EC CORP US N 1 N N BioMarin Pharmaceutical Inc NSLL8ITTRR0J5HEMR848 BioMarin Pharmaceutical Inc 09061G101 84394.000000000000 NS USD 5572535.820000000000 1.2055641722 Long EC CORP US N 1 N N N Brookfield Asset Management Lt 549300CZ84WPNJZKY093 Brookfield Asset Management Ltd 113004105 267724.000000000000 NS USD 15303103.840000000000 3.3106783534 Long EC CORP CA N 1 N N Canadian National Railway Co 3SU7BEP7TH9YEQOZCS77 Canadian National Railway Co 136375102 118774.000000000000 NS USD 13265868.060000000000 2.8699421166 Long EC CORP CA N 1 N N N Comcast Corp 51M0QTTNCGUN7KFCFZ59 Comcast Corp 20030N101 220750.000000000000 NS USD 9534192.500000000000 2.0626302387 Long EC CORP US N 1 N N N Costco Wholesale Corp 29DX7H14B9S6O3FD6V18 Costco Wholesale Corp 22160K105 15855.000000000000 NS USD 15409157.400000000000 3.3336220143 Long EC CORP US N 1 N N Dexcom Inc 549300YSK3QDSFR5EU59 Dexcom Inc 252131107 186197.000000000000 NS USD 14521504.030000000000 3.1415868018 Long EC CORP US N 1 N N N Equinix Inc 549300EVUN2BTLJ3GT74 Equinix Inc 29444U700 14394.000000000000 NS USD 14127423.120000000000 3.0563312124 Long EC CORP US N 1 N N N Fastenal Co 529900PP0C7H2HHPSJ32 Fastenal Co 311900104 125454.000000000000 NS USD 10482936.240000000000 2.2678817613 Long EC CORP US N 1 N N N ICTSI 254900FU1MWK0I0Q4J61 International Container Terminal Services Inc N/A 1610522.000000000000 NS 10162755.010000000000 2.1986136521 Long EC CORP PH N 1 N N N Dr Ing hc F Porsche AG 529900EWEX125AULXI58 Dr Ing hc F Porsche AG N/A 152959.000000000000 NS 9549633.010000000000 2.0659706436 Long EP CORP DE N 1 N N N Cellnex Telecom SA 5493008T4YG3AQUI7P67 Cellnex Telecom SA N/A 169101.000000000000 NS 6072125.100000000000 1.3136454760 Long EC CORP ES N 1 N N N Aon PLC 635400FALWQYX5E6QC64 Aon PLC N/A 30796.000000000000 NS USD 12057865.840000000000 2.6086025320 Long EC CORP US N 1 N N N ICON PLC 6354008SRQGEMC4XFI67 ICON PLC N/A 63621.000000000000 NS USD 13376315.250000000000 2.8938362968 Long EC CORP IE N 1 N N N 2025-01-15 RBB Fund, Inc. /s/ James G. Shaw RBB Fund, Inc. CFO COO Secretary XXXX NPORT-EX 2 mf-global.htm NPORT-EX

Motley Fool Global Opportunities ETF
  
Schedule of Investments
  
November 30, 2024 (Unaudited)
  
   
COMMON STOCKS - 91.2%
  
Shares
    
Value
 
Argentina - 2.1%
        
MercadoLibre, Inc. (a)
    
4,907
    
$
9,741,229
  
                 
Australia - 2.3%
          
Atlassian Corp. - Class A (a)
    
40,731
      
10,735,877
  
                 
Canada - 10.5%
          
Brookfield Asset Management Ltd. (b)
    
267,724
      
15,303,104
  
Canadian National Railway Co.
    
118,774
      
13,265,868
  
Waste Connections, Inc.
    
103,729
      
19,964,721
  
             
48,533,693
  
                 
China - 2.2%
          
Yum China Holdings, Inc. (b)
    
221,686
      
10,319,483
  
                 
France - 1.6%
          
Vivendi SA (b)
    
785,591
      
7,214,188
  
                 
Germany - 2.0%
          
Symrise AG
    
83,152
      
9,182,484
  
                 
Ireland - 4.9%
          
ICON PLC (a)
    
63,621
      
13,376,315
  
Kerry Group PLC - Class A
    
78,893
      
7,624,184
  
Kerry Group PLC - Class A
    
20,005
      
1,877,252
  
             
22,877,751
  
                 
Japan - 3.6%
          
Nintendo Co. Ltd.
    
281,112
      
16,553,131
  
                 
Kenya - 0.1%
          
Safaricom PLC
    
4,000,000
      
462,428
  
                 
Netherlands - 0.9%
          
Universal Music Group NV
    
164,228
      
3,958,619
  
                 
Philippines - 2.2%
          
International Container Terminal Services, Inc.
    
1,610,522
      
10,162,755
  
                 
Spain - 1.3%
          
Cellnex Telecom SA (c)
    
169,101
      
6,072,125
  
                 
Taiwan - 2.0%
          
Taiwan Semiconductor Manufacturing Co. Ltd. - ADR
    
48,835
      
9,017,871
  
                 
United Arab Emirates - 0.0%(d)
          
NMC Health PLC (a)(e)
    
485,482
      
0
  
                 
United Kingdom - 6.1%
          
London Stock Exchange Group PLC
    
91,262
      
13,087,363
  
Rentokil Initial PLC - ADR (b)
    
459,452
      
11,734,404
  
System1 Group PLC
    
447,260
      
3,556,954
  
             
28,378,721
  
                 
United States - 49.4%(f)
          
Alphabet, Inc. - Class C
    
96,753
      
16,495,419
  
Amazon.com, Inc. (a)
    
111,669
      
23,214,868
  
American Tower Corp.
    
64,526
      
13,485,934
  
Aon PLC - Class A
    
30,796
      
12,057,866
  
Axon Enterprise, Inc. (a)(b)
    
30,863
      
19,967,126
  
BioMarin Pharmaceutical, Inc. (a)
    
84,394
      
5,572,536
  
Comcast Corp. - Class A
    
220,750
      
9,534,193
  
Costco Wholesale Corp. (b)
    
15,855
      
15,409,157
  
DexCom, Inc. (a)
    
186,197
      
14,521,504
  
Equinix, Inc.
    
14,394
      
14,127,423
  
Fastenal Co.
    
125,454
      
10,482,936
  
Mastercard, Inc. - Class A
    
32,874
      
17,519,870
  
Salesforce, Inc.
    
41,246
      
13,610,768
  
SBA Communications Corp.
    
25,424
      
5,752,180
  
Starbucks Corp. (b)
    
95,516
      
9,786,569
  
Waters Corp. (a)(b)
    
22,100
      
8,502,312
  
Watsco, Inc. (b)
    
33,355
      
18,398,618
  
             
228,439,279
  
TOTAL COMMON STOCKS (Cost $240,320,307)
      
421,649,634
  
                 
PREFERRED STOCKS - 2.1%
  
Shares
    
Value
 
Germany - 2.1%
          
Dr Ing hc F Porsche AG 0.00%,   (c)
    
152,959
      
9,549,633
  
TOTAL PREFERRED STOCKS (Cost $13,292,973)
      
9,549,633
  
                 
SHORT-TERM INVESTMENTS - 17.6%
          
Value
 
Investments Purchased with Proceeds from Securities Lending - 17.6%
  
Units
          
Mount Vernon Liquid Assets Portfolio, LLC, 4.93% (g)
    
81,174,013
      
81,174,013
  
TOTAL SHORT-TERM INVESTMENTS (Cost $81,174,013)
      
81,174,013
  
                 
TOTAL INVESTMENTS - 110.9% (Cost $334,787,293)
      
512,373,280
  
Liabilities in Excess of Other Assets - (10.9)%
      
(50,131,966
)
TOTAL NET ASSETS - 100.0%
          
$
462,241,314
  
two
      
–
%
Percentages are stated as a percent of net assets.
      
–
%
   
The Global Industry Classification Standard ("GICS®") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor’s Financial Services LLC (“S&P”). GICS® is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services.
  

ADR - American Depositary Receipt
AG - Aktiengesellschaft
NV - Naamloze Vennootschap
PLC - Public Limited Company
SA - Sociedad Anónima

(a)
Non-income producing security.
(b)
All or a portion of this security is on loan as of November 30, 2024. The total market value of these securities was $79,373,889 which represented 17.2% of net assets.
(c)
Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified institutional investors. As of November 30, 2024, the value of these securities total $15,621,758 or 3.4% of the Fund’s net assets.
(d)
Represents less than 0.05% of net assets.
(e)
Fair value determined using significant unobservable inputs in accordance with procedures established by and under the supervision of the Adviser, acting as Valuation Designee. These securities represented $0 or 0.0% of net assets as of November 30, 2024.
(f)
To the extent that the Fund invests a significant portion of its assets in the securities of companies of a single country or region, it is more likely to be impacted by events or conditions affecting the country or region.
(g)
The rate shown represents the 7-day annualized effective yield as of November 30, 2024.


Summary of Fair Value Disclosure as of November 30, 2024 (Unaudited)
 
Motley Fool Global Opportunities ETF has adopted authoritative fair value accounting standards which establish an authoritative definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.
 
Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.
 
Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.
 
Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund’s own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available.
 
The following is a summary of the fair valuation hierarchy of the Fund’s securities as of November 30, 2024:
 
   
Level 1
    
Level 2
    
Level 3
    
Total
  
Investments:
                        
  Common Stocks
  
$
421,649,634
    
$
–
    
$
–
(a) 
  
$
421,649,634
  
  Preferred Stocks
    
9,549,633
      
–
      
–
      
9,549,633
  
  Investments Purchased with Proceeds from Securities Lending(b)
    
–
      
–
      
–
      
81,174,013
  
Total Investments
  
$
431,199,267
    
$
–
    
$
–
(a) 
  
$
512,373,280
  
   
Refer to the Schedule of Investments for further disaggregation of investment categories.
  
   
Changes in valuation techniques may result in transfers into or out of assigned levels within the fair value hierarchy. There were no transfers into or out of Level 3 during the reporting period as compared to the security classifications from the prior year’s annual report.
  

(a)
Amount is less than $0.50.
(b)
Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amount of $81,174,013 presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts listed in the Schedule of Investments.