SCHEDULE OF PORTFOLIO INVESTMENTS
RBC Impact Bond Fund
June 30, 2021 (Unaudited)
Principal Amount | Value | |
U.S. Government Agency Backed Mortgages — 28.68% | ||
Fannie Mae — 10.70% | ||
$90,094 | Pool #468942, 4.67%, 9/1/26 | $103,325 |
89,073 | Pool #AM4271, 4.41%, 9/1/28 | 104,054 |
142,153 | Pool #AM4668, 3.76%, 11/1/23 | 149,721 |
132,826 | Pool #AM4724, 3.95%, 11/1/25 | 146,773 |
50,000 | Pool #AN0360, 3.95%, 12/1/45 | 59,629 |
249,666 | Pool #AN0959, 2.92%, 5/1/31 | 276,737 |
90,940 | Pool #AN1381, 2.56%, 8/1/26 | 96,777 |
50,000 | Pool #AN6149, 3.14%, 7/1/32 | 56,896 |
94,104 | Pool #AN7354, 3.03%, 11/1/27 | 103,179 |
94,248 | Pool #AN7868, 3.06%, 12/1/27 | 103,555 |
94,158 | Pool #AN8300, 3.03%, 2/1/30 | 104,192 |
96,644 | Pool #AN8422, 3.71%, 4/1/33 | 114,270 |
97,828 | Pool #AN8458, 2.97%, 2/1/25 | 104,076 |
241,220 | Pool #AN9483, 3.43%, 6/1/28 | 271,181 |
41,930 | Pool #BJ0657, 4.00%, 2/1/48 | 44,635 |
55,877 | Pool #BJ2670, 4.00%, 4/1/48 | 59,481 |
62,054 | Pool #BJ3178, 4.00%, 11/1/47 | 67,789 |
75,082 | Pool #BJ3251, 4.00%, 1/1/48 | 80,967 |
61,074 | Pool #BJ4987, 4.00%, 3/1/48 | 66,752 |
38,535 | Pool #BJ5158, 4.00%, 4/1/48 | 41,021 |
59,471 | Pool #BJ9439, 4.00%, 2/1/48 | 64,046 |
66,591 | Pool #BJ9477, 4.00%, 4/1/48 | 71,713 |
114,909 | Pool #BK7924, 4.00%, 11/1/48 | 122,320 |
96,578 | Pool #BL1459, 3.84%, 2/1/29 | 111,132 |
244,871 | Pool #BL1581, 3.89%, 2/1/29 | 282,384 |
300,000 | Pool #BL7153, 1.81%, 6/1/35 | 299,158 |
159,618 | Pool #BO1263, 3.50%, 6/1/49 | 169,868 |
976,266 | Pool #BP3417, 2.50%, 5/1/51 | 1,010,992 |
272,649 | Pool #BP8741, 2.50%, 6/1/50 | 282,202 |
361,188 | Pool #BQ7523, 2.00%, 11/1/50 | 365,338 |
433,806 | Pool #BQ7524, 2.50%, 10/1/50 | 449,033 |
933,467 | Pool #BR1037, 2.50%, 5/1/51 | 966,671 |
1,717,263 | Pool #BR2051, 2.50%, 6/1/51 | 1,778,380 |
300,000 | Pool #BS0915, 1.62%, 3/1/31 | 302,256 |
1,128,599 | Pool #BT0853, 2.50%, 5/1/51 | 1,169,350 |
45,842 | Pool #CA1066, 4.00%, 1/1/48 | 49,056 |
22,858 | Pool #CA1068, 3.50%, 1/1/48 | 24,171 |
93,642 | Pool #CA2595, 4.50%, 11/1/48 | 100,728 |
24,185 | Pool #CA2597, 4.00%, 11/1/48 | 25,745 |
87,954 | Pool #CA2912, 4.00%, 12/1/48 | 95,453 |
107,919 | Pool #CA3132, 4.00%, 2/1/49 | 115,919 |
45,932 | Pool #CA3174, 4.00%, 2/1/49 | 49,466 |
275,620 | Pool #CA3451, 3.50%, 5/1/49 | 290,125 |
198,672 | Pool #CA3456, 3.50%, 5/1/49 | 211,333 |
392,483 | Pool #CA9048, 2.00%, 2/1/51 | 396,993 |
1
SCHEDULE OF PORTFOLIO INVESTMENTS
RBC Impact Bond Fund (cont.)
June 30, 2021 (Unaudited)
Principal Amount | Value | |
$1,012,118 | Pool #CB0437, 2.50%, 5/1/51 | $1,048,119 |
1,057,842 | Pool #CB0480, 2.50%, 5/1/51 | 1,095,490 |
1,052,650 | Pool #CB0576, 2.50%, 5/1/51 | 1,090,114 |
1,830,914 | Pool #CB0582, 2.50%, 5/1/51 | 1,896,076 |
1,857,044 | Pool #CB0675, 2.50%, 5/1/51 | 1,923,135 |
1,027,330 | Pool #CB0689, 2.50%, 6/1/51 | 1,063,892 |
1,922,205 | Pool #CB1003, 2.50%, 7/1/51 | 1,990,765 |
21,066,433 | ||
Freddie Mac — 17.73% | ||
89,298 | Pool #Q59453, 4.00%, 11/1/48 | 95,085 |
243,055 | Pool #QB5731, 2.00%, 11/1/50 | 245,907 |
236,147 | Pool #QB5732, 2.50%, 11/1/50 | 244,437 |
927,080 | Pool #QC3844, 2.00%, 6/1/51 | 938,008 |
367,920 | Pool #QC3845, 2.50%, 6/1/51 | 381,036 |
119,091 | Pool #RA1713, 3.00%, 11/1/49 | 124,131 |
117,602 | Pool #RA1714, 3.00%, 11/1/49 | 122,580 |
130,724 | Pool #RA1715, 3.00%, 10/1/49 | 136,256 |
233,702 | Pool #RA2256, 3.00%, 3/1/50 | 243,555 |
240,624 | Pool #RA2340, 3.00%, 3/1/50 | 250,770 |
246,318 | Pool #RA2395, 2.50%, 4/1/50 | 254,949 |
449,539 | Pool #RA2575, 2.50%, 5/1/50 | 465,293 |
146,329 | Pool #RA2727, 2.00%, 5/1/50 | 148,046 |
146,790 | Pool #RA2728, 2.50%, 5/1/50 | 151,934 |
446,847 | Pool #RA2740, 2.50%, 6/1/50 | 463,211 |
396,069 | Pool #RA3680, 2.50%, 9/1/50 | 409,949 |
237,624 | Pool #RA3751, 2.00%, 10/1/50 | 240,468 |
394,291 | Pool #RA4503, 2.00%, 2/1/51 | 398,821 |
446,632 | Pool #RA4598, 2.00%, 2/1/51 | 451,764 |
384,578 | Pool #RA4927, 2.00%, 3/1/51 | 388,997 |
520,643 | Pool #RA5020, 2.00%, 4/1/51 | 526,626 |
1,041,803 | Pool #RA5045, 2.50%, 5/1/51 | 1,078,842 |
1,417,326 | Pool #RA5195, 2.50%, 5/1/51 | 1,482,950 |
1,071,348 | Pool #RA5197, 2.50%, 5/1/51 | 1,109,437 |
1,056,420 | Pool #RA5234, 2.50%, 5/1/51 | 1,093,999 |
485,831 | Pool #RA5237, 2.50%, 5/1/51 | 503,104 |
1,834,811 | Pool #RA5278, 2.50%, 5/1/51 | 1,900,080 |
1,831,457 | Pool #RA5350, 2.50%, 6/1/51 | 1,896,606 |
1,802,231 | Pool #RA5379, 2.50%, 6/1/51 | 1,866,341 |
1,102,305 | Pool #RA5380, 2.50%, 6/1/51 | 1,141,516 |
2,067,803 | Pool #RA5404, 2.50%, 6/1/51 | 2,141,521 |
1,831,327 | Pool #RA5452, 2.50%, 6/1/51 | 1,896,614 |
1,948,500 | Pool #RA5509, 2.50%, 7/1/51 | 2,017,965 |
2,214,648 | Pool #RA5525, 2.50%, 7/1/51 | 2,293,601 |
2,005,081 | Pool #RA5541, 2.50%, 7/1/51 | 2,076,563 |
1,620,153 | Pool #RA5571, 2.50%, 7/1/51 | 1,677,912 |
70,559 | Pool #V84044, 4.00%, 1/1/48 | 75,528 |
55,958 | Pool #V84506, 4.00%, 7/1/48 | 59,708 |
2
SCHEDULE OF PORTFOLIO INVESTMENTS
RBC Impact Bond Fund (cont.)
June 30, 2021 (Unaudited)
Principal Amount | Value | |
$61,255 | Pool #V84836, 4.00%, 11/1/48 | $65,817 |
104,279 | Pool #V85041, 4.50%, 1/1/49 | 112,324 |
60,094 | Pool #V85181, 4.00%, 2/1/49 | 63,996 |
103,297 | Pool #V85351, 4.00%, 3/1/49 | 111,160 |
214,747 | Pool #V85365, 3.50%, 4/1/49 | 227,740 |
186,473 | Pool #V85381, 3.50%, 4/1/49 | 198,324 |
109,866 | Pool #V85445, 3.50%, 4/1/49 | 116,513 |
209,027 | Series 2018-KF57, Class A, (LIBOR USD 1-Month + 0.540%), 0.63%, 12/25/28(a) | 211,113 |
69,693 | Series 2018-SB45, Class A10F, 3.16%, 11/25/27(b) | 74,112 |
85,028 | Series 2018-SB47, Class A10F, 3.35%, 1/25/28(b) | 91,030 |
79,115 | Series 2018-SB48, Class A10F, 3.37%, 2/25/28(b) | 83,158 |
211,860 | Series 2019-SB59, Class A10F, 3.47%, 1/25/29(b) | 230,088 |
1,815,000 | Series 2021-SB87, Class A5H, 0.78%, 4/25/41(b) | 1,812,693 |
343,645 | Series Q014, Class A1, 1.56%, 1/25/36 | 333,255 |
34,725,433 | ||
Ginnie Mae — 0.25% | ||
222,921 | Pool #AC3667, 1.66%, 8/15/26 | 223,655 |
70,665 | Pool #BB3740, 4.00%, 11/15/47 | 77,425 |
84,596 | Pool #BE3008, 4.00%, 4/20/48 | 90,731 |
48,260 | Series 2018-2, Class AD, 2.40%, 3/16/59 | 49,726 |
45,573 | Series 2018-26, Class AD, 2.50%, 3/16/52 | 46,529 |
488,066 | ||
Total U.S. Government Agency Backed Mortgages | 56,279,932 | |
(Cost $56,249,075) | ||
Corporate Bonds — 26.67% | ||
Communications — 2.18% | ||
250,000 | Verizon Communications, Inc., 3.88%, 2/8/29 | 284,529 |
693,000 | Vodafone Group Plc, 4.13%, 5/30/25 | 773,717 |
1,780,000 | Vodafone Group Plc, 4.38%, 5/30/28 | 2,072,128 |
875,000 | Vodafone Group Plc, 5.25%, 5/30/48 | 1,147,463 |
4,277,837 | ||
Consumer, Non-cyclical — 17.37% | ||
250,000 | Abbott Laboratories, 1.15%, 1/30/28 | 245,223 |
545,000 | AbbVie, Inc., 3.60%, 5/14/25 | 595,074 |
2,030,000 | AbbVie, Inc., 3.80%, 3/15/25 | 2,220,670 |
995,000 | Amgen, Inc., 1.90%, 2/21/25 | 1,029,409 |
475,000 | Amgen, Inc., 2.20%, 2/21/27 | 493,447 |
100,000 | Amgen, Inc., 3.15%, 2/21/40 | 104,084 |
275,000 | Amgen, Inc., 3.20%, 11/2/27 | 300,270 |
350,000 | Amgen, Inc., 4.40%, 5/1/45 | 424,851 |
2,392,000 | Astrazeneca Finance LLC, 1.75%, 5/28/28 | 2,392,817 |
490,000 | Astrazeneca Finance LLC, 2.25%, 5/28/31 | 497,359 |
207,000 | Baxalta, Inc., 5.25%, 6/23/45 | 275,566 |
3
SCHEDULE OF PORTFOLIO INVESTMENTS
RBC Impact Bond Fund (cont.)
June 30, 2021 (Unaudited)
Principal Amount | Value | |
$1,000,000 | Becton Dickinson and Co., 2.82%, 5/20/30 | $1,047,835 |
350,000 | Becton Dickinson and Co., 3.36%, 6/6/24 | 374,968 |
1,453,000 | Becton Dickinson and Co., 3.73%, 12/15/24 | 1,582,942 |
1,089,000 | Becton Dickinson and Co., 4.67%, 6/6/47 | 1,358,433 |
150,000 | Becton Dickinson and Co., 4.69%, 12/15/44 | 187,310 |
200,000 | Biogen, Inc., 2.25%, 5/1/30 | 200,710 |
575,000 | Bristol-Myers Squibb Co., 3.20%, 6/15/26 | 631,428 |
731,000 | Bristol-Myers Squibb Co., 3.40%, 7/26/29 | 819,556 |
50,000 | Bristol-Myers Squibb Co., 4.25%, 10/26/49 | 63,196 |
60,000 | California Endowment (The), Series 2021, 2.50%, 4/1/51 | 57,616 |
200,000 | Children’s Hospital Medical Center, 2.82%, 11/15/50 | 194,064 |
75,000 | Danaher Corp., 2.60%, 10/1/50 | 71,665 |
1,000,000 | DH Europe Finance II Sarl, 2.05%, 11/15/22 | 1,023,093 |
995,000 | DH Europe Finance II Sarl, 2.60%, 11/15/29 | 1,042,530 |
100,000 | DH Europe Finance II Sarl, 3.25%, 11/15/39 | 107,348 |
100,000 | Doris Duke Charitable Foundation (The), Series 2020, 2.35%, 7/1/50 | 91,485 |
150,000 | EMD Finance LLC, 2.95%, 3/19/22(c) | 152,175 |
1,850,000 | EMD Finance LLC, 3.25%, 3/19/25(c) | 1,987,503 |
210,000 | Gilead Sciences, Inc., 1.20%, 10/1/27 | 204,827 |
2,500,000 | Gilead Sciences, Inc., 3.65%, 3/1/26 | 2,757,568 |
250,000 | Gilead Sciences, Inc., 4.80%, 4/1/44 | 316,800 |
150,000 | Gilead Sciences, Inc., 5.65%, 12/1/41 | 206,514 |
400,000 | John D and Catherine T MacArthur Foundation, 1.30%, 12/1/30 | 379,176 |
2,000,000 | Kaiser Foundation Hospitals, Series 2021, 2.81%, 6/1/41 | 2,046,013 |
150,000 | Kaiser Foundation Hospitals, 3.15%, 5/1/27 | 164,314 |
300,000 | Mead Johnson Nutrition Co., 4.13%, 11/15/25 | 337,502 |
78,000 | Medtronic, Inc., 3.50%, 3/15/25 | 85,630 |
250,000 | Medtronic, Inc., 4.38%, 3/15/35 | 311,489 |
150,000 | Partners Healthcare System, Inc., Series 2020, 3.19%, 7/1/49 | 158,398 |
75,000 | Pfizer, Inc., 2.63%, 4/1/30 | 80,047 |
3,225,000 | Providence Health & Services Obligated Group, (N/A + 0.000%), Series 12-E, 0.12%, 10/1/42(b) | 3,225,000 |
250,000 | Providence St. Joseph Health Obligated Group, Series H, 2.75%, 10/1/26 | 266,835 |
645,000 | Shire Acquisitions Investments Ireland DAC, 3.20%, 9/23/26 | 700,431 |
1,300,000 | Takeda Pharmaceutical Co. Ltd., 2.05%, 3/31/30 | 1,289,997 |
150,000 | Takeda Pharmaceutical Co. Ltd., 3.18%, 7/9/50 | 151,390 |
1,150,000 | Takeda Pharmaceutical Co. Ltd., 5.00%, 11/26/28 | 1,386,099 |
300,000 | Thermo Fisher Scientific, Inc., 2.60%, 10/1/29 | 315,346 |
100,000 | Trinity Health Corp., 4.13%, 12/1/45 | 123,245 |
34,079,248 | ||
Financial — 2.81% | ||
350,000 | Andrew W Mellon Foundation (The), Series 2020, 0.95%, 8/1/27 | 340,778 |
250,000 | BlueHub Loan Fund, Inc., Series 2020, 2.89%, 1/1/27 | 267,490 |
1,875,000 | BlueHub Loan Fund, Inc., Series 2020, 3.10%, 1/1/30 | 1,925,259 |
4
SCHEDULE OF PORTFOLIO INVESTMENTS
RBC Impact Bond Fund (cont.)
June 30, 2021 (Unaudited)
Principal Amount | Value | |
$400,000 | Bridge Housing Corp., 3.25%, 7/15/30 | $436,302 |
250,000 | Century Housing Corp., Series 2019, 4.00%, 11/1/21 | 252,792 |
250,000 | Community Preservation Corp. (The), Series 2020, 2.87%, 2/1/30 | 260,277 |
590,000 | Low Income Investment Fund, Series 2019, 3.39%, 7/1/26 | 629,739 |
1,300,000 | Low Income Investment Fund, Series 2019, 3.71%, 7/1/29 | 1,394,816 |
5,507,453 | ||
Industrial — 0.86% | ||
600,000 | Agilent Technologies, Inc., 2.75%, 9/15/29 | 629,822 |
1,000,000 | Nature Conservancy (The), Series A, 1.15%, 7/1/27 | 982,738 |
70,000 | Nature Conservancy (The), Series A, 1.51%, 7/1/29 | 68,694 |
1,681,254 | ||
Utilities — 3.45% | ||
1,534,000 | Avangrid, Inc., 3.15%, 12/1/24 | 1,642,777 |
1,350,000 | Avangrid, Inc., 3.80%, 6/1/29 | 1,525,822 |
150,000 | MidAmerican Energy Co., 3.10%, 5/1/27 | 163,940 |
800,000 | MidAmerican Energy Co., 3.65%, 4/15/29 | 906,611 |
2,520,000 | NextEra Energy Capital Holdings, Inc., 1.90%, 6/15/28 | 2,542,417 |
6,781,567 | ||
Total Corporate Bonds | 52,327,359 | |
(Cost $51,602,226) | ||
Municipal Bonds — 25.28% | ||
Alabama — 0.08% | ||
150,000 | Water Works Board of the City of Birmingham (The) Revenue, 2.60%, 1/1/27 | 160,941 |
Arizona — 0.51% | ||
750,000 | City of Phoenix Civic Improvement Corp. Revenue, Series C, 1.38%, 7/1/27 | 751,410 |
250,000 | City of Tucson AZ Water System Revenue, 1.88%, 7/1/30 | 253,055 |
1,004,465 | ||
Arkansas — 0.05% | ||
100,000 | City of Russellville AR Water & Sewer Revenue, Series W, 1.23%, 7/1/26, (Credit Support: BAM) | 99,346 |
California — 4.28% | ||
150,000 | California Health Facilities. Financing Authority Revenue, 2.02%, 6/1/24 | 155,709 |
250,000 | California Health Facilities. Financing Authority Revenue, 1.68%, 6/1/28 | 250,692 |
400,000 | California Health Facilities. Financing Authority Revenue, 1.98%, 6/1/30 | 402,564 |
5
SCHEDULE OF PORTFOLIO INVESTMENTS
RBC Impact Bond Fund (cont.)
June 30, 2021 (Unaudited)
Principal Amount | Value | |
$990,000 | California Health Facilities. Financing Authority Revenue, 2.53%, 6/1/35 | $1,010,760 |
460,000 | Calleguas Municipal Water District Revenue, Series A, 2.52%, 7/1/36 | 459,798 |
100,000 | City & County of San Francisco Affordable Housing GO, Series H, 1.95%, 6/15/27 | 103,236 |
135,000 | City & County of San Francisco Housing GO, Series A, 2.82%, 6/15/24 | 143,428 |
100,000 | City of Los Angeles Housing GO, Series A, 2.95%, 9/1/28, Callable 9/1/27 @ 100 | 107,978 |
300,000 | City of Modesto CA Wastewater Revenue, Series A, 0.99%, 11/1/25 | 300,111 |
350,000 | City of San Buenaventura Revenue, 1.17%, 1/1/26 | 351,400 |
300,000 | City of Santa Rosa CA Wastewater Revenue, Series B, 2.32%, 9/1/33 | 306,588 |
100,000 | City of Sunnyvale Wastewater Revenue, Series A, 3.20%, 4/1/26 | 109,918 |
210,000 | Cucamonga Valley Water District Financing Authority Revenue, Series A, 1.54%, 9/1/27 | 212,497 |
150,000 | Escondido Joint Powers Financing Authority Revenue, Series B, 2.44%, 9/1/25 | 157,197 |
150,000 | Kern Community College District GO, 2.54%, 11/1/26 | 159,858 |
300,000 | Riverside Community College District GO, 0.82%, 8/1/25 | 299,298 |
200,000 | Rosemead School District GO, Series A, 2.17%, 8/1/25 | 208,918 |
125,000 | San Diego County Water Authority Revenue, Series A, 1.17%, 5/1/27 | 124,385 |
100,000 | San Francisco City & County Public Utilities Commission Wastewater Revenue, 5.40%, 10/1/28 | 126,136 |
400,000 | Santa Clara Valley Water District Certificate Participation, 1.78%, 6/1/31, Callable 6/1/30 @ 100 | 396,784 |
1,060,000 | Santa Clara Valley Water District Certificate Participation, 1.88%, 6/1/32, Callable 6/1/30 @ 100 | 1,050,121 |
600,000 | Sonoma-Marin Area Rail Transit District Revenue, Series A, 2.02%, 3/1/28 | 615,612 |
1,250,000 | State of California Department of Water Resources Revenue, 0.51%, 12/1/24 | 1,245,475 |
100,000 | State of California Department of Water Resources Revenue, 0.92%, 12/1/26 | 99,238 |
8,397,701 | ||
Colorado — 0.95% | ||
1,120,000 | Denver City & County Housing Authority Revenue, 0.84%, 8/1/24, (Credit Support: HUD SECT 8), Callable 2/1/24 @ 100 | 1,119,541 |
50,000 | Denver City & County School District No 1 GO, Series B, 2.99%, 12/1/24, (Credit Support: State Aid Withholding) | 53,488 |
275,000 | Parker Water & Sanitation District GO, 2.10%, 8/1/29 | 285,499 |
400,000 | Regional Transportation District Sales Tax Revenue, Series A, 0.70%, 11/1/25 | 397,652 |
1,856,180 |
6
SCHEDULE OF PORTFOLIO INVESTMENTS
RBC Impact Bond Fund (cont.)
June 30, 2021 (Unaudited)
Principal Amount | Value | |
Connecticut — 0.25% | ||
$325,000 | Connecticut Green Bank Revenue, 1.95%, 11/15/28 | $325,611 |
150,000 | South Central Connecticut Regional Water Authority Revenue, Series S, 2.86%, 8/1/30, Callable 8/1/29 @ 100 | 161,247 |
486,858 | ||
Florida — 1.02% | ||
500,000 | City of Deltona FL Utility System Revenue, 0.31%, 10/1/23, (Credit Support: BAM) | 497,565 |
1,500,000 | Florida Housing Finance Corp. Revenue, Series A, 0.06%, 9/15/37, Callable 7/15/21 @ 100 | 1,500,000 |
1,997,565 | ||
Georgia — 0.94% | ||
75,000 | Atlanta Urban Residential Finance Authority Revenue, 2.39%, 12/1/22 | 76,781 |
450,000 | Carroll County Water Authority Revenue, Series B, 0.73%, 7/1/24 | 449,082 |
285,000 | Carroll County Water Authority Revenue, Series B, 1.51%, 7/1/27 | 286,248 |
500,000 | Coweta County Water & Sewage Authority Revenue, Series A, 2.00%, 6/1/25 | 521,360 |
75,000 | Macon-Bibb County Urban Development Authority Revenue, Series A, 3.00%, 12/1/24, (Credit Support: County Guaranteed) | 79,235 |
425,000 | Tift County Hospital Authority Revenue, 1.05%, 12/1/25, (Credit Support: County Guaranteed) | 426,874 |
1,839,580 | ||
Hawaii — 0.21% | ||
150,000 | City & County Honolulu Wastewater System Revenue, Series A, 2.00%, 7/1/22 | 152,627 |
250,000 | Honolulu City & County Board of Water Supply Revenue, Series B, 1.98%, 7/1/27 | 259,290 |
411,917 | ||
Idaho — 0.26% | ||
500,000 | Idaho Energy Resources Authority Revenue, 2.86%, 9/1/46 | 513,355 |
Illinois — 0.76% | ||
1,500,000 | Illinois Finance Authority Revenue, 0.06%, 2/15/46, Callable 7/1/21 @ 100 | 1,500,000 |
Iowa — 0.38% | ||
650,000 | Iowa Finance Authority Revenue, Series B, 0.47%, 8/1/24 | 647,907 |
100,000 | Northeast Iowa Community College GO, Series N, 3.45%, 6/1/26, Callable 6/1/24 @ 100 | 107,327 |
755,234 |
7
SCHEDULE OF PORTFOLIO INVESTMENTS
RBC Impact Bond Fund (cont.)
June 30, 2021 (Unaudited)
Principal Amount | Value | |
Kentucky — 0.19% | ||
$370,000 | Louisville and Jefferson County Metropolitan Sewer District Revenue, Series C, 0.72%, 5/15/24 | $370,525 |
Louisiana — 0.51% | ||
1,000,000 | Louisiana Public Facilities Authority Revenue, Series B-1, 0.03%, 7/1/47, Callable 7/1/21 @ 100 | 1,000,000 |
Maryland — 0.12% | ||
225,000 | City of Baltimore Revenue, Series B, 1.58%, 7/1/28 | 225,842 |
Massachusetts — 0.99% | ||
600,000 | Boston Water & Sewer Commission Revenue, 0.97%, 11/1/25 | 600,204 |
1,040,000 | Massachusetts Bay Transportation Authority Revenue, Series B, 2.49%, 7/1/33, Callable 7/1/31 @ 100 | 1,076,826 |
250,000 | Massachusetts Water Resources Authority Revenue, Series F, 1.86%, 8/1/24 | 259,765 |
1,936,795 | ||
Michigan — 1.09% | ||
95,000 | Marquette Brownfield Redevelopment Authority Revenue, 3.05%, 5/1/27, (Credit Support: Municipal Government Guaranteed), Callable 5/1/26 @ 100 | 101,367 |
175,000 | Michigan Finance Authority Revenue, 0.65%, 10/1/24 | 174,139 |
175,000 | Michigan Finance Authority Revenue, 0.65%, 10/1/24 | 174,139 |
1,140,000 | Pontiac Wastewater Treatment Facility Drainage District Special Assessment, 2.00%, 6/1/23, (Credit Support: County Guaranteed) | 1,175,511 |
300,000 | Romulus Community Schools GO, Series B, 1.00%, 5/1/25, (Credit Support: Q-SBLF) | 300,084 |
225,000 | State of Michigan GO, 1.54%, 5/15/30 | 221,526 |
2,146,766 | ||
Missouri — 0.05% | ||
100,000 | Riverview Gardens School District GO, Series B, 3.15%, 4/1/22, (Credit Support: State Aid Direct Deposit) | 102,106 |
Nebraska — 0.18% | ||
100,000 | City of Omaha NE Sewer Revenue, Series B, 1.04%, 4/1/26 | 99,811 |
250,000 | Papio-Missouri River Natural Resource District Special Tax, 2.20%, 12/15/25, Callable 6/15/24 @ 100 | 246,435 |
346,246 | ||
Nevada — 0.64% | ||
250,000 | City of Henderson GO, Series A-2, 2.23%, 6/1/28 | 261,375 |
1,000,000 | Nevada Housing Division Revenue, 0.06%, 4/15/41, Callable 7/15/21 @ 100 | 1,000,000 |
1,261,375 |
8
SCHEDULE OF PORTFOLIO INVESTMENTS
RBC Impact Bond Fund (cont.)
June 30, 2021 (Unaudited)
Principal Amount | Value | |
New Jersey — 0.13% | ||
$150,000 | Mercer County Improvement Authority (The) Revenue, Series A, 4.90%, 9/15/27, (Credit Support: County Guaranteed), Callable 9/15/21 @ 100 | $151,302 |
100,000 | Township of Brick GO, 3.00%, 9/1/22 | 103,213 |
254,515 | ||
New York — 3.40% | ||
200,000 | Nassau Health Care Corp. Revenue, Series A, 0.09%, 8/1/22, (Credit Support: County Guaranteed), Callable 7/1/21 @ 100 | 200,000 |
1,500,000 | New York City Housing Development Corp. Revenue, Series A, 0.05%, 12/1/37, Callable 7/1/21 @ 100 | 1,500,000 |
400,000 | New York City Housing Development Corp. Revenue, Series A, 0.05%, 2/15/38, Callable 7/1/21 @ 100 | 400,000 |
1,225,000 | New York City Housing Development Corp. Revenue, Series A, 0.05%, 5/15/39, Callable 7/1/21 @ 100 | 1,225,000 |
100,000 | New York City Housing Development Corp. Revenue, Series A, 0.04%, 12/1/39, (Credit Support: Freddie Mac), Callable 7/1/21 @ 100 | 100,000 |
570,000 | New York State Housing Finance Agency Revenue, Series A, 1.13%, 11/1/25, (Credit Support: SONYMA), Callable 7/1/23 @ 100 | 567,794 |
400,000 | New York State Housing Finance Agency Revenue, Series A, 0.04%, 5/15/37, (Credit Support: Fannie Mae), Callable 7/1/21 @ 100 | 400,000 |
1,160,000 | New York State Housing Finance Agency Revenue, 0.02%, 5/1/49, Callable 7/1/21 @ 100 | 1,160,000 |
600,000 | Western Nassau County Water Authority Revenue, Series B, 2.50%, 4/1/34 | 605,364 |
500,000 | Western Nassau County Water Authority Revenue, Series B, 2.58%, 4/1/35 | 504,095 |
6,662,253 | ||
North Carolina — 0.56% | ||
1,100,000 | Charlotte-Mecklenburg Hospital Authority (The) Revenue, Series F, 0.03%, 1/15/48, Callable 7/1/21 @ 100 | 1,100,000 |
Ohio — 0.13% | ||
130,000 | City of Cincinnati Revenue, 3.95%, 11/1/28 | 148,295 |
100,000 | County of Franklin Revenue, 2.88%, 11/1/50, Callable 5/1/50 @ 100 | 99,608 |
247,903 | ||
Oregon — 0.56% | ||
350,000 | City of Portland GO, Series B, 1.51%, 6/15/28 | 352,891 |
300,000 | City of Tigard Water Revenue, 2.00%, 8/1/28, (Credit Support: BAM) | 308,241 |
9
SCHEDULE OF PORTFOLIO INVESTMENTS
RBC Impact Bond Fund (cont.)
June 30, 2021 (Unaudited)
Principal Amount | Value | |
$90,000 | State of Oregon GO, 2.77%, 5/1/23 | $93,968 |
345,000 | State of Oregon GO, 1.32%, 6/1/27 | 347,219 |
1,102,319 | ||
Pennsylvania — 0.58% | ||
185,000 | City of Philadelphia Water & Wastewater Revenue, Series A, 3.55%, 10/1/28 | 208,195 |
825,000 | Economy Borough Municipal Authority Revenue, Series A, 1.65%, 12/15/28, (Credit Support: BAM) | 824,332 |
100,000 | Redevelopment Authority of the City of Philadelphia Revenue, 4.50%, 11/1/31, Callable 11/1/28 @ 100 | 112,856 |
1,145,383 | ||
Rhode Island — 0.84% | ||
1,295,000 | Narragansett Bay Commission Revenue, 2.09%, 9/1/30 | 1,329,589 |
150,000 | Rhode Island Infrastructure Bank Revenue, Series R, 2.70%, 10/1/28 | 161,767 |
150,000 | State of Rhode Island GO, Series B, 3.00%, 5/1/23 | 157,385 |
1,648,741 | ||
South Carolina — 0.04% | ||
75,000 | Spartanburg Sanitary Sewer District Revenue, 1.19%, 3/1/26 | 75,520 |
Texas — 3.84% | ||
930,000 | City of Houston TX Combined Utility System Revenue, Series B, 0.81%, 11/15/25 | 927,145 |
250,000 | City of Houston TX Combined Utility System Revenue, Series C, 2.05%, 11/15/26 | 262,455 |
400,000 | City of Lubbock TX Water & Wastewater System Revenue, Series C, 1.39%, 2/15/27 | 402,336 |
350,000 | Dallas Area Rapid Transit Revenue, 1.15%, 12/1/26 | 350,829 |
800,000 | Dallas Area Rapid Transit Revenue, 2.18%, 12/1/32 | 818,864 |
900,000 | Harris County Housing Finance Corp. Revenue, 0.06%, 1/15/38, Callable 7/15/21 @ 100 | 900,000 |
1,000,000 | Harris County Housing Finance Corp. Revenue, 0.06%, 2/15/38, Callable 7/15/21 @ 100 | 1,000,000 |
1,500,000 | Houston Housing Finance Corp. Revenue, 0.06%, 7/15/37, Callable 7/15/21 @ 100 | 1,500,000 |
150,000 | State of Texas GO, Series B, 3.13%, 8/1/22 | 154,643 |
1,000,000 | Tarrant County Cultural Education Facilities Finance Corp. Revenue, Series C, 0.03%, 7/1/47, Callable 7/1/21 @ 100 | 1,000,000 |
200,000 | United Independent School District GO, 5.00%, 8/15/24, (Credit Support: PSF-GTD) | 227,032 |
7,543,304 | ||
Utah — 1.35% | ||
150,000 | Central Utah Water Conservancy District Revenue, Series E, 0.72%, 10/1/25 | 148,755 |
1,240,000 | Metropolitan Water District of Salt Lake & Sandy Revenue, Series B, 0.82%, 7/1/25 | 1,236,627 |
10
SCHEDULE OF PORTFOLIO INVESTMENTS
RBC Impact Bond Fund (cont.)
June 30, 2021 (Unaudited)
Principal Amount | Value | |
$520,000 | Metropolitan Water District of Salt Lake & Sandy Revenue, Series B, 1.52%, 7/1/28 | $522,158 |
750,000 | North Davis County Sewer District Revenue, Series B, 0.79%, 3/1/25 | 747,885 |
2,655,425 | ||
Vermont — 0.05% | ||
100,000 | Vermont Housing Finance Agency Revenue, 3.45%, 11/1/29 | 105,534 |
Virginia — 0.18% | ||
200,000 | County of Henrico VA Water & Sewer Revenue, Series B, 0.52%, 5/1/24 | 199,548 |
150,000 | Loudoun County Economic Development Authority Revenue, 2.05%, 12/1/22 | 153,794 |
353,342 | ||
Washington — 0.16% | ||
300,000 | Grant County Public Utility District No 2 Priest Rapids Hydroelectric Project Revenue, 1.90%, 1/1/27 | 309,606 |
Total Municipal Bonds | 49,616,642 | |
(Cost $49,321,793) | ||
Commercial Paper — 13.04% | ||
2,000,000 | Adventist Health System/Sunbelt, Inc., 0.00%, 7/2/21 | 1,999,993 |
1,000,000 | Advocate Health Corp., 0.00%, 9/9/21(d) | 999,840 |
1,500,000 | Advocate Health Corp., 0.00%, 9/21/21(d) | 1,499,431 |
1,000,000 | BJC Health System, 0.13%, 8/12/21(d) | 1,000,054 |
1,500,000 | BJC Health System, 0.11%, 9/1/21(d) | 1,499,983 |
1,500,000 | Carolinas Healthcare System, 0.00%, 10/19/21(d) | 1,499,368 |
1,500,000 | Carolinas Healthcare System, 0.00%, 9/28/21 | 1,499,419 |
1,000,000 | Che Trinity Health, 0.00%, 7/20/21 | 999,967 |
1,750,000 | Cincinnati Childrens Hospital Medical Center, 0.04%, 7/1/21(d) | 1,750,000 |
1,500,000 | Cincinnati Childrens Hospital Medical Center, 0.08%, 7/6/21(d) | 1,500,000 |
600,000 | Harris County Cultural Education Facilities, 0.00%, 7/1/21 | 600,002 |
1,500,000 | Harris County Cultural Education Facilities, 0.09%, 10/18/21(d) | 1,500,011 |
1,500,000 | Massachusetts Health and Educational Facilities Authority, 0.08%, 9/1/21(d) | 1,499,983 |
245,000 | Self-Help Federal Credit Union, 0.40%, 12/17/21(d) | 245,000 |
1,500,000 | Sentara Healthcare, 0.07%, 7/8/21(d) | 1,499,999 |
1,750,000 | Sentara Healthcare, 0.06%, 7/15/21(d) | 1,749,999 |
1,750,000 | Sentara Healthcare, 0.06%, 7/21/21(d) | 1,749,989 |
1,000,000 | Trinity Health Corp., 0.00%, 7/12/21 | 999,982 |
1,500,000 | Trinity Health Corp., 0.00%, 8/12/21 | 1,499,893 |
Total Commercial Paper | 25,592,913 | |
(Cost $25,593,088) |
11
SCHEDULE OF PORTFOLIO INVESTMENTS
RBC Impact Bond Fund (cont.)
June 30, 2021 (Unaudited)
Principal Amount | Value | |
Asset Backed Securities — 3.76% | ||
$1,000,000 | GoodLeap Sustainable Home Solutions Trust, Series 2021-3CS, Class A, 2.10%, 5/20/48(c) | $993,282 |
901,398 | Loanpal Solar Loan Ltd., Series 2021-2GS, Class A, 2.22%, 3/20/48(c) | 898,281 |
1,289,555 | Sunnova Helios II Issuer LLC, Series 2019-AA, Class A, 3.75%, 6/20/46(c) | 1,352,650 |
479,174 | Sunnova Helios II Issuer LLC, Series 2021-A, Class A, 1.80%, 2/20/48(c) | 473,592 |
1,005,000 | Sunrun Vulcan Issuer LLC, Series 2021-1A, Class A, 2.46%, 1/30/52(c) | 1,013,423 |
300,000 | Tesla Auto Lease Trust, Series 2018-B, Class B, 4.12%, 10/20/21(c) | 300,561 |
400,000 | Tesla Auto Lease Trust, Series 2019-A, Class C, 2.68%, 1/20/23(c) | 409,539 |
1,200,000 | Tesla Auto Lease Trust, Series 2019-A, Class D, 3.37%, 1/20/23(c) | 1,239,171 |
190,000 | Tesla Auto Lease Trust, Series 2020-A, Class B, 1.18%, 1/22/24(c) | 191,809 |
500,000 | Tesla Auto Lease Trust, Series 2021-A, Class D, 1.34%, 3/20/25(c) | 502,213 |
Total Asset Backed Securities | 7,374,521 | |
(Cost $7,385,411) | ||
U.S. Government Agency Obligations — 3.71% | ||
Small Business Administration — 2.44% | ||
622,300 | (TBA), 0.00%, 5/1/31(d) | 721,299 |
51,347 | (Prime Index - 2.500%), 0.75%, 2/25/28(a) | 51,631 |
104,205 | (Prime Index - 2.500%), 0.75%, 4/25/44(a) | 105,785 |
494,802 | Certificate of Originator’s Fee, 0.98%, 4/15/31(d) | 16,711 |
74,527 | (Prime Index - 0.675%), 2.58%, 9/25/43(a) | 80,238 |
221,213 | (Prime Index - 0.675%), 2.58%, 11/25/45(a) | 242,195 |
254,385 | (Prime Index + 0.117%), 3.37%, 1/25/46(a) | 289,636 |
450,000 | (Prime Index + 0.325%), 3.58%, 6/25/31(a) | 500,491 |
496,562 | (Prime Index + 0.325%), 3.58%, 7/25/31(a) | 552,650 |
134,844 | (Prime Index + 0.325%), 3.58%, 9/25/44(a) | 151,143 |
312,797 | (Prime Index + 0.575%), 3.83%, 4/25/31(a) | 346,467 |
62,847 | (Prime Index + 0.595%), 3.85%, 3/25/43(a) | 70,225 |
45,438 | (Prime Index + 0.700%), 3.95%, 2/25/28(a) | 48,072 |
53,412 | (Prime Index + 1.002%), 4.25%, 11/25/28(a) | 57,071 |
88,353 | (Prime Index + 1.224%), 4.47%, 6/25/29(a) | 95,172 |
145,545 | (Prime Index + 1.575%), 4.83%, 7/25/30(a) | 162,002 |
81,452 | (TBA), 4.83%, 9/25/30(a),(d) | 91,331 |
435,246 | (TBA), 4.88%, 2/23/46(d) | 537,185 |
42,500 | (TBA), 5.27%, 3/30/28(d) | 47,174 |
37,088 | (TBA), 5.58%, 9/23/25(a),(d) | 40,845 |
128,185 | (Prime Index + 2.325%), 5.58%, 10/25/30(a) | 147,391 |
111,121 | (Prime Index + 2.325%), 5.58%, 1/25/31(a) | 129,358 |
12
SCHEDULE OF PORTFOLIO INVESTMENTS
RBC Impact Bond Fund (cont.)
June 30, 2021 (Unaudited)
Principal Amount | Value | |
$167,597 | 7.08%, 7/25/30(d) | $187,256 |
88,649 | 9.08%, 9/25/29(d) | 103,701 |
4,775,029 | ||
U.S. International Development Finance Corp. — 1.27% | ||
1,000,000 | 0.09%, 7/5/38(d) | 1,000,000 |
1,000,000 | 1.44%, 4/15/28 | 1,002,842 |
500,000 | 1.65%, 4/15/28(d) | 500,000 |
2,502,842 | ||
Total U.S. Government Agency Obligations | 7,277,871 | |
(Cost $7,267,862) | ||
Shares | ||
Investment Company — 4.91% | ||
9,621,659 | U.S. Government Money Market Fund, RBC Institutional Class 1(e) | 9,621,659 |
Total Investment Company | 9,621,659 | |
(Cost $9,621,659) | ||
Total Investments | $208,090,897 | |
(Cost $207,041,114) — 106.05% | ||
Liabilities in excess of other assets — (6.05)% | (11,864,691) | |
NET ASSETS — 100.00% | $196,226,206 |
(a) | Floating rate note. Rate shown is as of report date. |
(b) | 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. |
(c) | 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. |
(d) | The Pricing Committee has fair valued this security under procedures established by the Fund’s Board of Trustees. |
(e) | Affiliated investment. |
13
SCHEDULE OF PORTFOLIO INVESTMENTS
RBC Impact Bond Fund (cont.)
June 30, 2021 (Unaudited)
Financial futures contracts as of June 30, 2021:
Long Position | Number of Contracts | Expiration Date | Value/Unrealized Appreciation (Depreciation) | Notional Value | Clearinghouse | ||||||
30 Year U.S. Ultra Treasury Bond | 102 | September 2021 | $653,822 | USD | $19,654,125 | Barclays Capital Group | |||||
Five Year U.S. Treasury Note | 20 | September 2021 | 1,973 | USD | 2,468,594 | Barclays Capital Group | |||||
Two Year U.S. Treasury Note | 75 | September 2021 | (26,270) | USD | 16,524,023 | Barclays Capital Group | |||||
Total | $629,525 |
Abbreviations used are defined below: |
BAM - Bank of America |
GO - General Obligations |
LIBOR - London Interbank Offered Rate |
PSF-GTD - Permanent School Fund Guarantee |
Q-SBLF - Qualified School Bond Loan Fund |
SONYMA - State of New York Mortgage Agency |
TBA - To-be-announced |
USD - United States Dollar |
14