NPORT-EX 2 RCTM340RBCUltraShFixInc.htm
SCHEDULE OF PORTFOLIO INVESTMENTS
RBC Ultra-Short Fixed Income Fund
June 30, 2021 (Unaudited)
Principal
Amount 		  Value
Corporate Bonds — 69.12%  
Basic Materials — 1.75%  
$600,000 DuPont de Nemours, Inc., (LIBOR USD 3-Month + 1.110%), 1.27%, 11/15/23(a) $610,887
300,000 DuPont de Nemours, Inc., 4.21%, 11/15/23 324,800
750,000 International Flavors & Fragrances, Inc., 0.70%, 9/15/22(b) 750,778
300,000 Nutrien Ltd., 3.15%, 10/1/22 307,990
    1,994,455
Communications — 5.09%  
1,000,000 AT&T, Inc., 0.90%, 3/25/24 1,002,045
1,550,000 Charter Communications Operating LLC / Charter Communications Operating Capital, 4.46%, 7/23/22 1,604,438
1,500,000 Charter Communications Operating LLC / Charter Communications Operating Capital, Series USD, 4.50%, 2/1/24 1,633,781
150,000 Comcast Corp., (LIBOR USD 3-Month + 0.630%), 0.81%, 4/15/24(a) 151,767
800,000 Thomson Reuters Corp., 3.85%, 9/29/24 867,601
500,000 Videotron Ltd., 5.38%, 6/15/24(b) 548,741
    5,808,373
Consumer, Cyclical — 3.30%  
400,000 7-Eleven, Inc., 0.80%, 2/10/24(b) 399,067
650,000 Daimler Finance North America LLC, 0.75%, 3/1/24(b) 649,854
500,000 Ford Motor Credit Co. LLC, 3.66%, 9/8/24 524,033
750,000 General Motors Financial Co., Inc., 3.70%, 5/9/23 787,584
250,000 General Motors Financial Co., Inc., 4.15%, 6/19/23 265,570
807,000 Volkswagen Group of America Finance LLC, 2.70%, 9/26/22(b) 829,151
300,000 Volkswagen Group of America Finance LLC, 2.90%, 5/13/22(b) 306,244
    3,761,503
Consumer, Non-cyclical — 6.89%  
1,000,000 AbbVie, Inc., 3.25%, 10/1/22 1,028,110
300,000 AbbVie, Inc., 3.45%, 3/15/22 305,074
500,000 Amgen, Inc., 3.63%, 5/22/24 538,343
125,000 Becton Dickinson and Co., (LIBOR USD 3-Month + 1.030%), 1.16%, 6/6/22(a) 126,013
634,000 Becton Dickinson and Co., 2.89%, 6/6/22 647,894
750,000 Becton Dickinson and Co., 3.36%, 6/6/24 803,504
350,000 Bristol-Myers Squibb Co., 0.54%, 11/13/23 350,189
600,000 Cigna Corp., (LIBOR USD 3-Month + 0.890%), 1.07%, 7/15/23(a) 607,764
35,000 CVS Health Corp., 3.70%, 3/9/23 36,841
350,000 EMD Finance LLC, 2.95%, 3/19/22(b) 355,075
250,000 Equifax, Inc., 3.60%, 8/15/21 250,985
300,000 Gilead Sciences, Inc., 0.75%, 9/29/23 300,218
250,000 HCA, Inc., 4.75%, 5/1/23 267,966
250,000 HCA, Inc., 5.88%, 5/1/23 271,321
500,000 Keurig Dr Pepper, Inc., 0.75%, 3/15/24 500,528
1
SCHEDULE OF PORTFOLIO INVESTMENTS
RBC Ultra-Short Fixed Income Fund (cont.)
June 30, 2021 (Unaudited)
Principal
Amount 		  Value
$750,000 Shire Acquisitions Investments Ireland DAC, 2.88%, 9/23/23 $784,892
250,000 Stryker Corp., 0.60%, 12/1/23 249,940
250,000 United Rentals North America, Inc., 5.88%, 9/15/26 259,411
175,000 Viatris, Inc., 1.13%, 6/22/22(b) 176,247
    7,860,315
Energy — 7.77%  
250,000 Cheniere Energy Partners LP, 5.63%, 10/1/26 259,375
150,000 ConocoPhillips Co., (LIBOR USD 3-Month + 0.900%), 1.06%, 5/15/22(a) 150,905
250,000 Enbridge, Inc., 2.90%, 7/15/22 255,902
550,000 Enbridge, Inc., 4.00%, 10/1/23 587,382
250,000 Energy Transfer LP, 3.45%, 1/15/23 258,360
500,000 Energy Transfer LP, 5.88%, 1/15/24 553,950
200,000 Energy Transfer Operating LP, 3.60%, 2/1/23 207,505
250,000 Energy Transfer Operating LP, 5.20%, 2/1/22 253,848
250,000 Kinder Morgan Energy Partners LP, 4.15%, 2/1/24 269,542
300,000 Kinder Morgan Energy Partners LP, 5.00%, 10/1/21 300,000
800,000 Kinder Morgan, Inc., 5.63%, 11/15/23(b) 880,728
250,000 MPLX LP, (LIBOR USD 3-Month + 1.100%), 1.22%, 9/9/22(a) 250,141
450,000 ONEOK Partners LP, 3.38%, 10/1/22 462,420
750,000 ONEOK, Inc., 2.75%, 9/1/24 789,211
250,000 ONEOK, Inc., 4.25%, 2/1/22 253,093
450,000 Pioneer Natural Resources Co., 0.75%, 1/15/24 449,972
250,000 Plains All American Pipeline LP / PAA Finance Corp., 3.65%, 6/1/22 255,139
300,000 Spectra Energy Partners LP, 4.75%, 3/15/24 329,289
300,000 Williams Cos., Inc. (The), 3.35%, 8/15/22 307,491
500,000 Williams Cos., Inc. (The), 3.60%, 3/15/22 508,528
300,000 Williams Cos., Inc. (The), 4.00%, 11/15/21 301,280
600,000 Williams Cos., Inc. (The), 4.30%, 3/4/24 652,138
300,000 Williams Cos., Inc. (The), 4.50%, 11/15/23 325,064
    8,861,263
Financial — 27.12%  
1,252,000 American Tower Corp., REIT, 5.00%, 2/15/24 1,388,452
250,000 Australia & New Zealand Banking Group Ltd., (LIBOR USD 3-Month + 0.710%), 0.86%, 5/19/22(a),(b) 251,470
500,000 Australia & New Zealand Banking Group Ltd., 4.50%, 3/19/24(b) 547,075
650,000 Bank of America Corp., (SOFR RATE + 0.410%), MTN, 0.52%, 6/14/24(c) 649,886
300,000 Bank of America Corp., (SOFR RATE + 0.740%), MTN, 0.81%, 10/24/24(c) 301,022
475,000 Bank of America Corp., (SOFR RATE + 0.690%), 0.98%, 4/22/25(c) 476,417
1,250,000 Bank of America Corp., (LIBOR USD 3-Month + 0.960%), GMTN, 1.13%, 7/23/24(a) 1,267,202
2
SCHEDULE OF PORTFOLIO INVESTMENTS
RBC Ultra-Short Fixed Income Fund (cont.)
June 30, 2021 (Unaudited)
Principal
Amount 		  Value
$750,000 Bank of America Corp., (LIBOR USD 3-Month + 0.790%), 3.00%, 12/20/23(c) $777,384
250,000 Bank of Nova Scotia (The), (LIBOR USD 3-Month + 0.620%), 0.75%, 9/19/22(a) 251,627
200,000 Bank of Nova Scotia (The), 1.63%, 5/1/23 204,474
250,000 Barclays Plc, (1 yr. US Treasury Yield Curve Rate T Note Constant Maturity + 0.800%), 1.01%, 12/10/24(c) 250,968
250,000 Barclays Plc, 3.20%, 8/10/21 250,766
263,000 Barclays Plc, 3.68%, 1/10/23 267,464
250,000 BNP Paribas SA, 2.95%, 5/23/22(b) 255,809
500,000 BNP Paribas SA, 3.38%, 1/9/25(b) 537,225
250,000 BNP Paribas SA, 3.50%, 3/1/23(b) 262,226
350,000 BNP Paribas SA, 3.80%, 1/10/24(b) 375,414
83,000 Camden Property Trust, REIT, 4.88%, 6/15/23 88,811
300,000 Canadian Imperial Bank of Commerce, (LIBOR USD 3-Month + 0.660%), 0.78%, 9/13/23(a) 303,673
500,000 Canadian Imperial Bank of Commerce, 3.10%, 4/2/24 531,638
1,000,000 Citigroup, Inc., (SOFR RATE + 0.770%), 0.82%, 6/9/27(a) 999,919
250,000 Citigroup, Inc., (LIBOR USD 3-Month + 0.690%), 0.87%, 10/27/22(a) 251,669
250,000 Citigroup, Inc., (SOFR RATE + 0.669%), 0.98%, 5/1/25(c) 250,670
200,000 Citigroup, Inc., (LIBOR USD 3-Month + 0.950%), 1.13%, 7/24/23(a) 201,553
1,000,000 Citigroup, Inc., (LIBOR USD 3-Month + 0.950%), 2.88%, 7/24/23(c) 1,025,491
250,000 Cooperatieve Rabobank UA, (LIBOR USD 3-Month + 0.480%), 0.67%, 1/10/23(a) 251,498
750,000 Cooperatieve Rabobank UA, 3.95%, 11/9/22 785,053
250,000 Credit Agricole SA, 3.38%, 1/10/22(b) 254,023
590,000 Credit Agricole SA, 3.75%, 4/24/23(b) 624,614
250,000 Credit Suisse Group AG, 3.57%, 1/9/23(b) 253,934
500,000 Credit Suisse Group Funding Guernsey Ltd., 3.80%, 9/15/22 519,922
500,000 Crown Castle International Corp., 3.20%, 9/1/24 534,400
850,000 Goldman Sachs Group, Inc. (The), Series VAR, (SOFR RATE + 0.538%), Series VAR, 0.63%, 11/17/23(c) 850,435
500,000 Goldman Sachs Group, Inc. (The), (SOFR RATE + 0.572%), 0.67%, 3/8/24(c) 500,915
400,000 Goldman Sachs Group, Inc. (The), (LIBOR USD 3-Month + 0.750%), 0.90%, 2/23/23(a) 403,520
250,000 Goldman Sachs Group, Inc. (The), (LIBOR USD 3-Month + 0.990%), 2.91%, 7/24/23(c) 256,265
200,000 Goldman Sachs Group, Inc. (The), 3.63%, 2/20/24 214,376
550,000 HSBC Holdings Plc, (SOFR RATE + 0.707%), 0.98%, 5/24/25(c) 549,835
250,000 HSBC Holdings Plc, (LIBOR USD 3-Month + 1.055%), 3.26%, 3/13/23(c) 255,064
225,000 HSBC Holdings Plc, 3.60%, 5/25/23 238,216
350,000 HSBC Holdings Plc, 3.95%, 5/18/24(c) 371,703
200,000 ING Groep NV, 3.15%, 3/29/22 204,132
250,000 ING Groep NV, 4.10%, 10/2/23 269,447
3
SCHEDULE OF PORTFOLIO INVESTMENTS
RBC Ultra-Short Fixed Income Fund (cont.)
June 30, 2021 (Unaudited)
Principal
Amount 		  Value
$500,000 JPMorgan Chase & Co., (SOFR RATE + 0.580%), Series FRN, 0.63%, 6/23/25(a) $500,252
250,000 JPMorgan Chase & Co., (SOFR RATE + 0.580%), 0.70%, 3/16/24(c) 250,780
1,000,000 JPMorgan Chase & Co., (LIBOR USD 3-Month + 0.850%), GMTN, 1.04%, 1/10/25(a) 1,013,001
250,000 JPMorgan Chase & Co., (LIBOR USD 3-Month + 0.900%), 1.08%, 4/25/23(a) 251,599
250,000 JPMorgan Chase & Co., (LIBOR USD 3-Month + 0.730%), 3.56%, 4/23/24(c) 263,638
400,000 Lloyds Banking Group Plc, (1 yr. US Treasury Yield Curve Rate T Note Constant Maturity + 0.550%), 0.70%, 5/11/24(c) 401,063
350,000 Lloyds Banking Group Plc, 2.86%, 3/17/23(c) 355,986
200,000 Lloyds Banking Group Plc, (LIBOR USD 3-Month + 0.810%), 2.91%, 11/7/23(c) 206,228
250,000 Lloyds Banking Group Plc, 3.00%, 1/11/22 253,576
1,000,000 Mid-America Apartments LP, 4.30%, 10/15/23 1,073,471
300,000 Morgan Stanley, (SOFR RATE + 0.455%), MTN, 0.53%, 1/25/24(c) 299,905
1,000,000 Morgan Stanley, (SOFR RATE + 0.616%), 0.73%, 4/5/24(c) 1,002,213
200,000 Morgan Stanley, (LIBOR USD 3-Month + 0.930%), 1.11%, 7/22/22(a) 200,100
250,000 Morgan Stanley, (LIBOR USD 3-Month + 1.400%), MTN, 1.58%, 10/24/23(a) 254,032
500,000 Nordea Bank Abp, 3.75%, 8/30/23(b) 533,532
1,000,000 Regions Financial Corp., 3.80%, 8/14/23 1,065,973
500,000 Santander UK Group Holdings Plc, 3.37%, 1/5/24(c) 520,362
492,000 Santander UK Group Holdings Plc, 3.57%, 1/10/23 499,850
200,000 Swedbank AB, (LIBOR USD 3-Month + 0.700%), 0.82%, 3/14/22(a),(b) 200,846
425,000 UBS AG, 0.45%, 2/9/24(b) 422,720
250,000 Westpac Banking Corp., (LIBOR USD 3-Month + 0.570%), 0.76%, 1/11/23(a) 251,897
1,695,000 Willis North America, Inc., 3.60%, 5/15/24 1,822,832
    30,949,513
Industrial — 3.09%  
500,000 Boeing Co. (The), 1.17%, 2/4/23 501,856
250,000 Boeing Co. (The), 1.43%, 2/4/24 250,641
185,000 L3Harris Technologies, Inc., 3.95%, 5/28/24 200,466
500,000 Raytheon Technologies Corp., 3.20%, 3/15/24 531,643
325,000 Roper Technologies, Inc., 0.45%, 8/15/22 325,192
250,000 Siemens Financieringsmaatschappij NV, 0.65%, 3/11/24(b) 250,241
1,469,000 Teledyne Technologies, Inc., 0.95%, 4/1/24 1,470,899
    3,530,938
Technology — 7.98%  
600,000 Autodesk, Inc., 3.60%, 12/15/22 621,312
1,000,000 Broadcom Corp. / Broadcom Cayman Finance Ltd., 3.63%, 1/15/24 1,068,197
4
SCHEDULE OF PORTFOLIO INVESTMENTS
RBC Ultra-Short Fixed Income Fund (cont.)
June 30, 2021 (Unaudited)
Principal
Amount 		  Value
$250,000 Broadcom, Inc., 4.70%, 4/15/25 $281,438
650,000 Dell International LLC / EMC Corp., 4.00%, 7/15/24 706,575
1,150,000 Dell International LLC / EMC Corp., 5.45%, 6/15/23 1,247,494
200,000 Hewlett Packard Enterprise Co., (LIBOR USD 3-Month + 0.720%), 0.91%, 10/5/21(a) 200,026
1,250,000 Leidos, Inc., 2.95%, 5/15/23 1,299,650
275,000 Microchip Technology, Inc., 0.97%, 2/15/24(b) 274,940
500,000 Microchip Technology, Inc., 0.98%, 9/1/24(b) 497,811
550,000 NXP BV / NXP Funding LLC, 3.88%, 9/1/22(b) 570,533
1,100,000 NXP BV / NXP Funding LLC, 4.63%, 6/1/23(b) 1,182,064
500,000 NXP BV / NXP Funding LLC / NXP USA, Inc., 2.70%, 5/1/25(b) 527,301
250,000 Open Text Corp., 5.88%, 6/1/26(b) 258,684
375,000 Skyworks Solutions, Inc., 0.90%, 6/1/23 375,973
    9,111,998
Utilities — 6.13%  
425,000 American Electric Power Co., Inc., Series M, 0.75%, 11/1/23 425,209
300,000 CenterPoint Energy Resources Corp., 0.70%, 3/2/23 300,019
1,000,000 CenterPoint Energy, Inc., (SOFR RATE + 0.650%), 0.68%, 5/13/24(a) 1,001,944
148,000 CenterPoint Energy, Inc., 3.85%, 2/1/24 158,983
510,000 Consolidated Edison, Inc., Series A, 0.65%, 12/1/23 510,006
600,000 Dominion Energy, Inc., Series B, 2.75%, 9/15/22 612,682
215,000 Emera US Finance LP, 0.83%, 6/15/24(b) 214,143
500,000 Evergy, Inc., 2.45%, 9/15/24 523,371
375,000 Florida Power & Light Co., (LIBOR USD 3-Month + 0.380%), 0.56%, 7/28/23(a) 375,066
350,000 NextEra Energy Capital Holdings, Inc., 0.65%, 3/1/23 351,213
875,000 OGE Energy Corp., 0.70%, 5/26/23 874,850
500,000 Sempra Energy, 2.90%, 2/1/23 517,745
300,000 Southern Co. (The), Series 21-A, 0.60%, 2/26/24 299,418
150,000 WEC Energy Group, Inc., 0.55%, 9/15/23 150,065
675,000 WEC Energy Group, Inc., 0.80%, 3/15/24 676,760
    6,991,474
     
Total Corporate Bonds 78,869,832
(Cost $78,612,537)  
Asset Backed Securities — 27.22%  
790,000 Americredit Automobile Receivables Trust, Series 2018-3, Class D, 4.04%, 11/18/24 829,520
100,000 AmeriCredit Automobile Receivables Trust, 1.80%, 12/18/25 101,845
160,000 AmeriCredit Automobile Receivables Trust, Series 2019-1, Class D, 3.62%, 3/18/25 167,600
175,000 AmeriCredit Automobile Receivables Trust, Series 2019-3, Class B, 2.13%, 7/18/25 178,034
300,000 AmeriCredit Automobile Receivables Trust, Series 2019-3, Class D, 2.58%, 9/18/25 309,642
5
SCHEDULE OF PORTFOLIO INVESTMENTS
RBC Ultra-Short Fixed Income Fund (cont.)
June 30, 2021 (Unaudited)
Principal
Amount 		  Value
$390,000 AmeriCredit Automobile Receivables Trust, Series 2021-1, Class D, 1.21%, 12/18/26 $389,036
219,794 Capital Auto Receivables Asset Trust, Series 2018-2, Class C, 3.69%, 12/20/23(b) 220,154
900,000 CarMax Auto Owner Trust, 1.28%, 7/15/27 894,944
250,000 CarMax Auto Owner Trust, Series 2017-3, Class D, 3.46%, 10/16/23 251,380
800,000 CarMax Auto Owner Trust, Series 2017-4, Class D, 3.30%, 5/15/24 807,562
350,000 CarMax Auto Owner Trust, Series 2018-1, Class C, 2.95%, 11/15/23 355,842
200,000 CarMax Auto Owner Trust, Series 2018-2, Class D, 3.99%, 4/15/25 205,525
205,000 CarMax Auto Owner Trust, Series 2018-3, Class D, 3.91%, 1/15/25 212,016
185,000 CarMax Auto Owner Trust, Series 2018-4, Class C, 3.85%, 7/15/24 192,601
290,000 CarMax Auto Owner Trust, Series 2018-4, Class D, 4.15%, 4/15/25 302,780
145,000 CarMax Auto Owner Trust, Series 2019-1, Class D, 4.04%, 8/15/25 151,852
450,000 CarMax Auto Owner Trust, Series 2019-2, Class D, 3.41%, 10/15/25 468,441
300,000 CarMax Auto Owner Trust, Series 2019-3, Class C, 2.60%, 6/16/25 310,229
705,000 CarMax Auto Owner Trust, Series 2019-3, Class D, 2.85%, 1/15/26 730,628
100,000 CarMax Auto Owner Trust, Series 2019-4, Class C, 2.60%, 9/15/25 103,633
125,000 CarMax Auto Owner Trust, Series 2020-1, Class C, 2.34%, 11/17/25 129,135
572,000 CarMax Auto Owner Trust, Series 2020-2, Class D, 5.75%, 5/17/27 631,768
1,000,000 CarMax Auto Owner Trust, Series 2020-3, Class D, 2.53%, 1/15/27 1,032,022
370,000 Chrysler Capital Auto Receivables Trust, Series 2016-BA, Class D, 3.51%, 9/15/23(b) 371,337
252,741 CNH Equipment Trust, Series 2019-A, Class A3, 3.01%, 4/15/24 256,961
157,290 Dell Equipment Finance Trust, Series 2018-2, Class B, 3.55%, 10/22/23(b) 157,715
650,000 Dell Equipment Finance Trust, Series 2018-2, Class C, 3.72%, 10/22/23(b) 654,595
603,000 Dell Equipment Finance Trust, Series 2019-1, Class B, 2.94%, 3/22/24(b) 610,389
150,000 Drive Auto Receivables Trust, 3.69%, 8/17/26 155,653
140,000 Drive Auto Receivables Trust, 2.28%, 8/17/26 143,087
900,000 Drive Auto Receivables Trust, 2.70%, 5/17/27 926,223
265,000 Drive Auto Receivables Trust, 3.18%, 10/15/26 274,274
30,493 Drive Auto Receivables Trust, Series 2017-2, Class D, 3.49%, 9/15/23 30,677
6
SCHEDULE OF PORTFOLIO INVESTMENTS
RBC Ultra-Short Fixed Income Fund (cont.)
June 30, 2021 (Unaudited)
Principal
Amount 		  Value
$156,703 Drive Auto Receivables Trust, Series 2018-3, Class D, 4.30%, 9/16/24 $159,915
620,000 Drive Auto Receivables Trust, Series 2018-5, Class D, 4.30%, 4/15/26 645,101
128,157 Drive Auto Receivables Trust, Series 2019-1, Class C, 3.78%, 4/15/25 129,292
1,000,000 Drive Auto Receivables Trust, Series 2019-1, Class D, 4.09%, 6/15/26 1,037,303
130,000 Drive Auto Receivables Trust, Series 2019-3, Class C, 2.90%, 8/15/25 131,996
105,000 Drive Auto Receivables Trust, Series 2019-4, Class C, 2.51%, 11/17/25 106,389
265,000 Drive Auto Receivables Trust, Series 2019-4, Class D, 2.70%, 2/16/27 272,652
125,000 Drive Auto Receivables Trust, Series 2020-1, Class C, 2.36%, 3/16/26 127,267
1,100,000 Drive Auto Receivables Trust, Series 2021-1, Class D, 1.45%, 1/16/29 1,106,954
500,000 Ford Credit Auto Lease Trust, Series 2021-A, Class C, 0.78%, 9/15/25 499,672
105,000 GM Financial Automobile Leasing Trust, Series 2019-3, Class C, 2.35%, 7/20/23 106,117
425,000 GM Financial Automobile Leasing Trust, Series 2020-1, Class C, 2.04%, 12/20/23 431,021
1,150,000 GM Financial Automobile Leasing Trust, Series 2020-2, Class D, 3.21%, 12/20/24 1,194,730
1,000,000 GM Financial Automobile Leasing Trust, Series 2020-3, Class D, 1.71%, 2/20/25 1,011,339
150,000 GM Financial Consumer Automobile Receivables Trust, Series 2018-3, Class B, 3.27%, 1/16/24 153,932
60,000 GM Financial Consumer Automobile Receivables Trust, Series 2020-1, Class B, 2.03%, 4/16/25 61,663
50,000 GM Financial Consumer Automobile Receivables Trust, Series 2020-1, Class C, 2.18%, 5/16/25 51,409
325,000 GM Financial Leasing Trust, Series 2021-1, Class D, 1.01%, 7/21/25 323,165
420,000 Santander Drive Auto Receivables Trust, 1.64%, 11/16/26 425,652
1,000,000 Santander Drive Auto Receivables Trust, 1.48%, 1/15/27 1,012,240
315,000 Santander Drive Auto Receivables Trust, Series 2018-2, Class D, 3.88%, 2/15/24 320,474
865,000 Santander Drive Auto Receivables Trust, Series 2018-3, Class D, 4.07%, 8/15/24 885,285
103,442 Santander Drive Auto Receivables Trust, Series 2019-1, Class C, 3.42%, 4/15/25 104,225
100,000 Santander Drive Auto Receivables Trust, Series 2019-1, Class D, 3.65%, 4/15/25 102,786
400,000 Santander Drive Auto Receivables Trust, Series 2019-2, Class D, 3.22%, 7/15/25 411,600
160,000 Santander Drive Auto Receivables Trust, Series 2019-3, Class D, 2.68%, 10/15/25 163,993
7
SCHEDULE OF PORTFOLIO INVESTMENTS
RBC Ultra-Short Fixed Income Fund (cont.)
June 30, 2021 (Unaudited)
Principal
Amount 		  Value
$450,000 Santander Drive Auto Receivables Trust, Series 2021-1, Class D, 1.13%, 11/16/26 $450,597
1,100,000 Santander Drive Auto Receivables Trust, Series 2021-2, Class D, 1.35%, 7/15/27 1,101,056
450,000 Santander Retail Auto Lease Trust, 2.08%, 3/20/24(b) 459,531
505,000 Santander Retail Auto Lease Trust, Series 2019-A, Class B, 3.01%, 5/22/23(b) 510,850
300,000 Santander Retail Auto Lease Trust, Series 2019-A, Class C, 3.30%, 5/22/23(b) 304,164
240,000 Santander Retail Auto Lease Trust, Series 2019-B, Class C, 2.77%, 8/21/23(b) 244,780
500,000 Santander Retail Auto Lease Trust, Series 2020-B, Class C, 1.18%, 12/20/24(b) 501,767
1,088,536 Sunnova Helios II Issuer LLC, Series 2019-AA, Class A, 3.75%, 6/20/46(b) 1,141,796
100,000 Tesla Auto Lease Trust, Series 2019-A, Class C, 2.68%, 1/20/23(b) 102,385
1,475,000 Tesla Auto Lease Trust, Series 2019-A, Class D, 3.37%, 1/20/23(b) 1,523,147
600,000 Tesla Auto Lease Trust, Series 2021-A, Class D, 1.34%, 3/20/25(b) 602,656
183,924 Verizon Owner Trust, Series 2018-1A, Class B, 3.05%, 9/20/22(b) 184,175
220,000 Verizon Owner Trust, Series 2018-1A, Class C, 3.20%, 9/20/22(b) 220,326
170,000 Verizon Owner Trust, Series 2019-C, Class B, 2.06%, 4/22/24 174,022
4,887 World Omni Automobile Lease Securitization Trust, Series 2019-B, Class A2A, 2.05%, 7/15/22 4,890
     
Total Asset Backed Securities 31,059,414
(Cost $31,013,165)  
U.S. Government Agency Backed Mortgages — 1.04%  
Fannie Mae — 0.01%  
2,317 Pool #888467, 6.00%, 6/1/22 2,336
3,300 Series 2003-55, Class CD, 5.00%, 6/25/23 3,411
2,332 Series 2012-1, Class GB, 2.00%, 2/25/22 2,337
    8,084
FREMF Mortgage Trust — 1.03%  
1,120,000 3.99%, 7/25/49(b),(d) 1,177,550
     
Total U.S. Government Agency Backed Mortgages 1,185,634
(Cost $1,185,428)  
     
    
8
SCHEDULE OF PORTFOLIO INVESTMENTS
RBC Ultra-Short Fixed Income Fund (cont.)
June 30, 2021 (Unaudited)
Shares   Value
Investment Company — 0.18%  
207,348 U.S. Government Money Market Fund,
RBC Institutional Class 1(e) 		$207,348
     
Total Investment Company 207,348
(Cost $207,348)  
     
Total Investments $111,322,228
(Cost $111,018,478) — 97.56%  
Other assets in excess of liabilities — 2.44% 2,780,986
NET ASSETS — 100.00% $114,103,214
(a) Floating rate note. Rate shown is as of report date.
(b) 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.
(c) Security is a fix-to-float security, which carries a fixed coupon until a certain date, upon which it switches to a floating rate. Reference rate and spread are provided if the rate is currently floating.
(d) Variable or floating rate security, which interest rate adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. Rate shown is the rate in effect as of period end.
(e) Affiliated investment.
Financial futures contracts as of June 30, 2021:
Short Position   Number of
Contracts 		  Expiration
Date 		  Value/Unrealized
Appreciation 		  Notional
Value 		  Clearinghouse
Five Year U.S. Treasury Note   65   September 2021   $19,834   USD $8,022,930   Barclays Capital Group
Two Year U.S. Treasury Note   125   September 2021   42,928   USD 27,540,039   Barclays Capital Group
Total           $62,762          
    
Abbreviations used are defined below:
GMTN - Global Medium Term Note
LIBOR - London Interbank Offered Rate
MTN - Medium Term Note
REIT - Real Estate Investment Trust
SOFR - Secured Overnight Financing Rate
USD - United States Dollar
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