SCHEDULE OF PORTFOLIO INVESTMENTS
RBC Ultra-Short Fixed Income Fund
December 31, 2021 (Unaudited)
Principal Amount | Value | |
Corporate Bonds — 57.09% | ||
Basic Materials — 1.16% | ||
$600,000 | DuPont de Nemours, Inc., (LIBOR USD 3-Month + 1.110%), 1.27%, 11/15/23(a) | $608,072 |
300,000 | DuPont de Nemours, Inc., 4.21%, 11/15/23 | 317,256 |
750,000 | International Flavors & Fragrances, Inc., 0.70%, 9/15/22(b) | 749,754 |
300,000 | Nutrien Ltd., 3.15%, 10/1/22 | 303,748 |
1,978,830 | ||
Communications — 3.35% | ||
1,000,000 | AT&T, Inc., 0.90%, 3/25/24 | 996,218 |
1,550,000 | Charter Communications Operating LLC / Charter Communications Operating Capital, 4.46%, 7/23/22 | 1,573,183 |
1,500,000 | Charter Communications Operating LLC / Charter Communications Operating Capital, Series USD, 4.50%, 2/1/24 | 1,594,708 |
150,000 | Comcast Corp., (LIBOR USD 3-Month + 0.630%), 0.75%, 4/15/24(a) | 151,354 |
800,000 | Thomson Reuters Corp., 3.85%, 9/29/24 | 846,009 |
500,000 | Videotron Ltd., 5.38%, 6/15/24(b) | 536,167 |
5,697,639 | ||
Consumer, Cyclical — 3.62% | ||
400,000 | 7-Eleven, Inc., 0.80%, 2/10/24(b) | 395,443 |
525,000 | Brunswick Corp., 0.85%, 8/18/24 | 517,799 |
500,000 | Ford Motor Credit Co. LLC, 3.66%, 9/8/24 | 520,310 |
1,000,000 | General Motors Financial Co., Inc., 3.70%, 5/9/23 | 1,030,191 |
500,000 | General Motors Financial Co., Inc., 4.15%, 6/19/23 | 520,165 |
807,000 | Volkswagen Group of America Finance LLC, 2.70%, 9/26/22(b) | 818,584 |
300,000 | Volkswagen Group of America Finance LLC, 2.90%, 5/13/22(b) | 302,179 |
500,000 | Volkswagen Group of America Finance LLC, 3.35%, 5/13/25(b) | 526,671 |
450,000 | Volkswagen Group of America Finance LLC, 4.25%, 11/13/23(b) | 475,100 |
1,050,000 | Walgreens Boots Alliance, Inc., 0.95%, 11/17/23 | 1,048,810 |
6,155,252 | ||
Consumer, Non-cyclical — 6.71% | ||
1,000,000 | AbbVie, Inc., 3.25%, 10/1/22 | 1,012,663 |
300,000 | AbbVie, Inc., 3.45%, 3/15/22 | 300,343 |
125,000 | Becton Dickinson and Co., (LIBOR USD 3-Month + 1.030%), 1.21%, 6/6/22(a) | 125,410 |
340,000 | Becton Dickinson and Co., 3.36%, 6/6/24 | 356,061 |
600,000 | Cigna Corp., (LIBOR USD 3-Month + 0.890%), 1.01%, 7/15/23(a) | 605,180 |
350,000 | EMD Finance LLC, 2.95%, 3/19/22(b) | 350,000 |
500,000 | Equifax, Inc., 2.60%, 12/1/24 | 517,519 |
226,000 | Gilead Sciences, Inc., 0.75%, 9/29/23 | 224,903 |
675,000 | Global Payments, Inc., 1.50%, 11/15/24 | 675,303 |
750,000 | HCA, Inc., 4.75%, 5/1/23 | 785,699 |
750,000 | HCA, Inc., 5.88%, 5/1/23 | 794,046 |
1,350,000 | JDE Peet’s NV, 0.80%, 9/24/24(b) | 1,320,288 |
1
SCHEDULE OF PORTFOLIO INVESTMENTS
RBC Ultra-Short Fixed Income Fund (cont.)
December 31, 2021 (Unaudited)
Principal Amount | Value | |
$500,000 | Keurig Dr Pepper, Inc., 0.75%, 3/15/24 | $496,707 |
500,000 | PerkinElmer, Inc., 0.85%, 9/15/24 | 493,056 |
750,000 | Shire Acquisitions Investments Ireland DAC, 2.88%, 9/23/23 | 771,199 |
500,000 | Takeda Pharmaceutical Co. Ltd., 4.40%, 11/26/23 | 529,167 |
1,150,000 | Thermo Fisher Scientific, Inc., (SOFR RATE + 0.530%), 0.58%, 10/18/24(a) | 1,150,908 |
175,000 | Viatris, Inc., 1.13%, 6/22/22 | 175,392 |
725,000 | Zimmer Biomet Holdings, Inc., 1.45%, 11/22/24 | 723,371 |
11,407,215 | ||
Energy — 6.33% | ||
150,000 | ConocoPhillips Co., (LIBOR USD 3-Month + 0.900%), 1.06%, 5/15/22(a) | 150,255 |
1,325,000 | Continental Resources, Inc., 2.27%, 11/15/26(b) | 1,315,533 |
500,000 | Enbridge, Inc., 2.50%, 1/15/25 | 514,548 |
250,000 | Enbridge, Inc., 2.90%, 7/15/22 | 252,582 |
550,000 | Enbridge, Inc., 4.00%, 10/1/23 | 574,436 |
250,000 | Energy Transfer LP, 3.45%, 1/15/23 | 254,416 |
200,000 | Energy Transfer LP, 3.60%, 2/1/23 | 204,126 |
850,000 | Energy Transfer LP, 5.88%, 1/15/24 | 917,309 |
250,000 | Kinder Morgan Energy Partners LP, 4.15%, 2/1/24 | 263,072 |
1,150,000 | Kinder Morgan, Inc., 5.63%, 11/15/23(b) | 1,229,354 |
450,000 | ONEOK Partners LP, 3.38%, 10/1/22 | 455,607 |
500,000 | ONEOK Partners LP, 4.90%, 3/15/25 | 545,411 |
750,000 | ONEOK Partners LP, 5.00%, 9/15/23 | 790,298 |
750,000 | ONEOK, Inc., 2.75%, 9/1/24 | 772,711 |
700,000 | Pioneer Natural Resources Co., 0.75%, 1/15/24 | 691,447 |
250,000 | Plains All American Pipeline LP / PAA Finance Corp., 3.65%, 6/1/22 | 251,171 |
300,000 | Spectra Energy Partners LP, 4.75%, 3/15/24 | 320,099 |
300,000 | Williams Cos., Inc. (The), 3.35%, 8/15/22 | 302,858 |
600,000 | Williams Cos., Inc. (The), 4.30%, 3/4/24 | 634,437 |
300,000 | Williams Cos., Inc. (The), 4.50%, 11/15/23 | 316,307 |
10,755,977 | ||
Financial — 20.00% | ||
1,602,000 | American Tower Corp., REIT, 5.00%, 2/15/24 | 1,724,681 |
1,000,000 | Athene Global Funding, 0.91%, 8/19/24(b) | 986,142 |
1,000,000 | Australia & New Zealand Banking Group Ltd., 4.50%, 3/19/24(b) | 1,065,927 |
650,000 | Bank of America Corp., MTN, 0.52%, 6/14/24(c) | 645,551 |
300,000 | Bank of America Corp., MTN, 0.81%, 10/24/24(c) | 298,013 |
475,000 | Bank of America Corp., 0.98%, 4/22/25(c) | 471,172 |
1,250,000 | Bank of America Corp., (LIBOR USD 3-Month + 0.960%), GMTN, 1.08%, 7/23/24(a) | 1,259,477 |
750,000 | Bank of America Corp., 3.00%, 12/20/23(c) | 765,530 |
250,000 | Barclays Plc, 1.01%, 12/10/24(c) | 248,183 |
600,000 | Barclays Plc, 3.65%, 3/16/25 | 634,595 |
263,000 | Barclays Plc, 3.68%, 1/10/23 | 263,127 |
2
SCHEDULE OF PORTFOLIO INVESTMENTS
RBC Ultra-Short Fixed Income Fund (cont.)
December 31, 2021 (Unaudited)
Principal Amount | Value | |
$1,125,000 | Blackstone Private Credit Fund, 2.35%, 11/22/24(b) | $1,125,320 |
500,000 | BNP Paribas SA, 3.38%, 1/9/25(b) | 525,814 |
250,000 | BNP Paribas SA, 3.50%, 3/1/23(b) | 257,387 |
350,000 | BNP Paribas SA, 3.80%, 1/10/24(b) | 367,576 |
83,000 | Camden Property Trust, REIT, 4.88%, 6/15/23 | 86,760 |
300,000 | Canadian Imperial Bank of Commerce, (LIBOR USD 3-Month + 0.660%), 0.86%, 9/13/23(a) | 302,134 |
500,000 | Canadian Imperial Bank of Commerce, 3.10%, 4/2/24 | 521,741 |
250,000 | Citigroup, Inc., (LIBOR USD 3-Month + 0.690%), 0.82%, 10/27/22(a) | 250,820 |
1,000,000 | Citigroup, Inc., (SOFR RATE + 0.770%), 0.82%, 6/9/27(a) | 1,001,481 |
250,000 | Citigroup, Inc., 0.98%, 5/1/25(c) | 248,321 |
200,000 | Citigroup, Inc., (LIBOR USD 3-Month + 0.950%), 1.07%, 7/24/23(a) | 200,688 |
565,000 | Citigroup, Inc., 1.28%, 11/3/25(c) | 563,885 |
1,500,000 | Citigroup, Inc., 2.88%, 7/24/23(c) | 1,517,433 |
565,000 | Commonwealth Bank of Australia, (SOFR RATE + 0.400%), 0.45%, 7/7/25(a),(b) | 564,737 |
590,000 | Credit Agricole SA, 3.75%, 4/24/23(b) | 611,650 |
250,000 | Credit Suisse Group AG, 3.57%, 1/9/23(b) | 250,103 |
500,000 | Credit Suisse Group Funding Guernsey Ltd., 3.80%, 9/15/22 | 510,768 |
500,000 | Crown Castle International Corp., REIT, 3.20%, 9/1/24 | 522,707 |
1,075,000 | Deutsche Bank AG, Series E, 0.96%, 11/8/23 | 1,072,316 |
850,000 | Goldman Sachs Group, Inc. (The), Series VAR, 0.63%, 11/17/23(c) | 848,027 |
500,000 | Goldman Sachs Group, Inc. (The), 0.67%, 3/8/24(c) | 498,020 |
400,000 | Goldman Sachs Group, Inc. (The), (LIBOR USD 3-Month + 0.750%), 0.91%, 2/23/23(a) | 401,548 |
500,000 | Goldman Sachs Group, Inc. (The), 0.93%, 10/21/24(c) | 497,862 |
250,000 | Goldman Sachs Group, Inc. (The), 2.91%, 7/24/23(c) | 252,797 |
200,000 | Goldman Sachs Group, Inc. (The), 3.63%, 2/20/24 | 209,792 |
250,000 | HSBC Holdings Plc, 0.73%, 8/17/24(c) | 247,765 |
550,000 | HSBC Holdings Plc, 0.98%, 5/24/25(c) | 543,351 |
250,000 | HSBC Holdings Plc, 3.26%, 3/13/23(c) | 251,149 |
225,000 | HSBC Holdings Plc, 3.60%, 5/25/23 | 233,381 |
350,000 | HSBC Holdings Plc, 3.95%, 5/18/24(c) | 363,132 |
250,000 | ING Groep NV, 4.10%, 10/2/23 | 263,069 |
325,000 | Jackson Financial, Inc., 1.13%, 11/22/23(b) | 324,527 |
500,000 | JPMorgan Chase & Co., (SOFR RATE + 0.580%), Series FRN, 0.63%, 6/23/25(a) | 499,786 |
250,000 | JPMorgan Chase & Co., 0.70%, 3/16/24(c) | 249,570 |
1,000,000 | JPMorgan Chase & Co., (LIBOR USD 3-Month + 0.850%), GMTN, 0.97%, 1/10/25(a) | 1,006,889 |
250,000 | JPMorgan Chase & Co., (LIBOR USD 3-Month + 0.900%), 1.02%, 4/25/23(a) | 250,464 |
250,000 | JPMorgan Chase & Co., 3.56%, 4/23/24(c) | 258,428 |
400,000 | Lloyds Banking Group Plc, 0.70%, 5/11/24(c) | 398,284 |
350,000 | Lloyds Banking Group Plc, 2.86%, 3/17/23(c) | 351,345 |
3
SCHEDULE OF PORTFOLIO INVESTMENTS
RBC Ultra-Short Fixed Income Fund (cont.)
December 31, 2021 (Unaudited)
Principal Amount | Value | |
$200,000 | Lloyds Banking Group Plc, 2.91%, 11/7/23(c) | $203,227 |
1,000,000 | Mid-America Apartments LP, REIT, 4.30%, 10/15/23 | 1,047,633 |
300,000 | Morgan Stanley, MTN, 0.53%, 1/25/24(c) | 298,999 |
1,000,000 | Morgan Stanley, 0.73%, 4/5/24(c) | 996,954 |
475,000 | Morgan Stanley, MTN, 1.16%, 10/21/25(c) | 471,081 |
250,000 | Morgan Stanley, MTN, 1.52%, 10/24/23(a) | 252,168 |
500,000 | Nordea Bank Abp, 3.75%, 8/30/23(b) | 522,339 |
500,000 | Santander UK Group Holdings Plc, 3.37%, 1/5/24(c) | 510,926 |
492,000 | Santander UK Group Holdings Plc, 3.57%, 1/10/23 | 492,217 |
200,000 | Swedbank AB, (LIBOR USD 3-Month + 0.700%), 0.90%, 3/14/22(a),(b) | 200,289 |
425,000 | UBS AG, 0.45%, 2/9/24(b) | 418,411 |
1,695,000 | Willis North America, Inc., 3.60%, 5/15/24 | 1,776,776 |
34,004,245 | ||
Industrial — 2.26% | ||
500,000 | Boeing Co. (The), 1.17%, 2/4/23 | 500,079 |
250,000 | Boeing Co. (The), 1.43%, 2/4/24 | 249,745 |
925,000 | Huntington Ingalls Industries, Inc., 0.67%, 8/16/23(b) | 917,202 |
185,000 | L3Harris Technologies, Inc., 3.95%, 5/28/24 | 195,292 |
500,000 | Raytheon Technologies Corp., 3.20%, 3/15/24 | 520,624 |
1,469,000 | Teledyne Technologies, Inc., 0.95%, 4/1/24 | 1,454,631 |
3,837,573 | ||
Technology — 7.47% | ||
900,000 | Analog Devices, Inc., (SOFR RATE + 0.250%), 0.30%, 10/1/24(a) | 899,785 |
1,100,000 | Autodesk, Inc., 3.60%, 12/15/22 | 1,121,658 |
500,000 | Broadcom Corp. / Broadcom Cayman Finance Ltd., 3.13%, 1/15/25 | 522,956 |
1,318,000 | Broadcom Corp. / Broadcom Cayman Finance Ltd., 3.63%, 1/15/24 | 1,379,426 |
250,000 | Broadcom, Inc., 4.70%, 4/15/25 | 273,462 |
650,000 | Dell International LLC / EMC Corp., 4.00%, 7/15/24 | 690,224 |
302,000 | Dell International LLC / EMC Corp., 5.45%, 6/15/23 | 319,059 |
375,000 | Kyndryl Holdings, Inc., 2.05%, 10/15/26(b) | 365,768 |
1,250,000 | Leidos, Inc., 2.95%, 5/15/23 | 1,280,046 |
1,025,000 | Microchip Technology, Inc., 0.97%, 2/15/24 | 1,016,391 |
500,000 | Microchip Technology, Inc., 0.98%, 9/1/24(b) | 491,400 |
1,100,000 | NXP BV / NXP Funding LLC, 4.63%, 6/1/23(b) | 1,151,895 |
500,000 | NXP BV / NXP Funding LLC / NXP USA, Inc., 2.70%, 5/1/25(b) | 516,668 |
1,000,000 | Qorvo, Inc., 1.75%, 12/15/24(b) | 1,000,816 |
875,000 | Skyworks Solutions, Inc., 0.90%, 6/1/23 | 871,451 |
725,000 | Western Digital Corp., 4.75%, 2/15/26 | 794,878 |
12,695,883 | ||
Utilities — 6.19% | ||
425,000 | American Electric Power Co., Inc., Series M, 0.75%, 11/1/23 | 422,734 |
750,000 | CenterPoint Energy Resources Corp., 0.70%, 3/2/23 | 746,767 |
4
SCHEDULE OF PORTFOLIO INVESTMENTS
RBC Ultra-Short Fixed Income Fund (cont.)
December 31, 2021 (Unaudited)
Principal Amount | Value | |
$1,000,000 | CenterPoint Energy, Inc., (SOFR RATE + 0.650%), 0.70%, 5/13/24(a) | $999,645 |
148,000 | CenterPoint Energy, Inc., 3.85%, 2/1/24 | 155,168 |
600,000 | Dominion Energy, Inc., Series B, 2.75%, 9/15/22 | 605,600 |
1,115,000 | Emera US Finance LP, 0.83%, 6/15/24 | 1,093,560 |
1,000,000 | Evergy, Inc., 2.45%, 9/15/24 | 1,025,425 |
1,525,000 | NextEra Energy Capital Holdings, Inc., (SOFR RATE + 0.400%), 0.45%, 11/3/23(a) | 1,523,103 |
875,000 | OGE Energy Corp., 0.70%, 5/26/23 | 871,617 |
1,100,000 | Pacific Gas and Electric Co., 1.70%, 11/15/23 | 1,099,429 |
875,000 | Southern Co. (The), (SOFR RATE + 0.370%), Series 2021, 0.42%, 5/10/23(a) | 873,884 |
300,000 | Southern Co. (The), Series 21-A, 0.60%, 2/26/24 | 296,543 |
150,000 | WEC Energy Group, Inc., 0.55%, 9/15/23 | 148,780 |
675,000 | WEC Energy Group, Inc., 0.80%, 3/15/24 | 668,565 |
10,530,820 | ||
Total Corporate Bonds | 97,063,434 | |
(Cost $97,478,271) | ||
Asset Backed Securities — 27.10% | ||
500,000 | American Credit Acceptance Receivables Trust, Series 2019-1, Class E, 4.84%, 4/14/25(b) | 516,705 |
234,000 | AmeriCredit Automobile Receivables Trust, Series 2020-3, Class D, 1.49%, 9/18/26 | 234,118 |
790,000 | AmeriCredit Automobile Receivables Trust, Series 2018-3, Class D, 4.04%, 11/18/24 | 815,624 |
160,000 | AmeriCredit Automobile Receivables Trust, Series 2019-1, Class D, 3.62%, 3/18/25 | 165,356 |
175,000 | AmeriCredit Automobile Receivables Trust, Series 2019-3, Class B, 2.13%, 7/18/25 | 176,718 |
300,000 | AmeriCredit Automobile Receivables Trust, Series 2019-3, Class D, 2.58%, 9/18/25 | 305,985 |
100,000 | AmeriCredit Automobile Receivables Trust, Series 2020-1, Class D, 1.80%, 12/18/25 | 100,667 |
390,000 | AmeriCredit Automobile Receivables Trust, Series 2021-1, Class D, 1.21%, 12/18/26 | 387,004 |
350,000 | CarMax Auto Owner Trust, Series 2018-1, Class C, 2.95%, 11/15/23 | 351,635 |
200,000 | CarMax Auto Owner Trust, Series 2018-2, Class D, 3.99%, 4/15/25 | 202,390 |
205,000 | CarMax Auto Owner Trust, Series 2018-3, Class D, 3.91%, 1/15/25 | 208,837 |
185,000 | CarMax Auto Owner Trust, Series 2018-4, Class C, 3.85%, 7/15/24 | 189,646 |
290,000 | CarMax Auto Owner Trust, Series 2018-4, Class D, 4.15%, 4/15/25 | 297,762 |
145,000 | CarMax Auto Owner Trust, Series 2019-1, Class D, 4.04%, 8/15/25 | 149,274 |
5
SCHEDULE OF PORTFOLIO INVESTMENTS
RBC Ultra-Short Fixed Income Fund (cont.)
December 31, 2021 (Unaudited)
Principal Amount | Value | |
$450,000 | CarMax Auto Owner Trust, Series 2019-2, Class D, 3.41%, 10/15/25 | $461,434 |
300,000 | CarMax Auto Owner Trust, Series 2019-3, Class C, 2.60%, 6/16/25 | 305,737 |
705,000 | CarMax Auto Owner Trust, Series 2019-3, Class D, 2.85%, 1/15/26 | 719,120 |
100,000 | CarMax Auto Owner Trust, Series 2019-4, Class C, 2.60%, 9/15/25 | 102,072 |
125,000 | CarMax Auto Owner Trust, Series 2020-1, Class C, 2.34%, 11/17/25 | 127,112 |
572,000 | CarMax Auto Owner Trust, Series 2020-2, Class D, 5.75%, 5/17/27 | 614,104 |
1,000,000 | CarMax Auto Owner Trust, Series 2020-3, Class D, 2.53%, 1/15/27 | 1,015,087 |
900,000 | CarMax Auto Owner Trust, Series 2021-1, Class D, 1.28%, 7/15/27 | 886,835 |
1,550,000 | Carvana Auto Receivables Trust, Series 2021-N1, Class D, 1.50%, 1/10/28 | 1,547,778 |
1,399,000 | Carvana Auto Receivables Trust, Series 2021-N4, Class D, 2.30%, 9/11/28 | 1,398,694 |
111,823 | CNH Equipment Trust, Series 2019-A, Class A3, 3.01%, 4/15/24 | 112,680 |
603,000 | Dell Equipment Finance Trust, Series 2019-1, Class B, 2.94%, 3/22/24(b) | 603,728 |
1,430,000 | Dell Equipment Finance Trust, Series 2021-2, Class D, 1.21%, 6/22/27(b) | 1,406,846 |
88,404 | Drive Auto Receivables Trust, Series 2018-3, Class D, 4.30%, 9/16/24 | 89,379 |
620,000 | Drive Auto Receivables Trust, Series 2018-5, Class D, 4.30%, 4/15/26 | 632,713 |
19,807 | Drive Auto Receivables Trust, Series 2019-1, Class C, 3.78%, 4/15/25 | 19,829 |
150,000 | Drive Auto Receivables Trust, Series 2019-2, Class D, 3.69%, 8/17/26 | 153,319 |
101,955 | Drive Auto Receivables Trust, Series 2019-3, Class C, 2.90%, 8/15/25 | 102,636 |
265,000 | Drive Auto Receivables Trust, Series 2019-3, Class D, 3.18%, 10/15/26 | 269,934 |
82,062 | Drive Auto Receivables Trust, Series 2019-4, Class C, 2.51%, 11/17/25 | 82,519 |
265,000 | Drive Auto Receivables Trust, Series 2019-4, Class D, 2.70%, 2/16/27 | 268,947 |
125,000 | Drive Auto Receivables Trust, Series 2020-1, Class C, 2.36%, 3/16/26 | 125,985 |
900,000 | Drive Auto Receivables Trust, Series 2020-1, Class D, 2.70%, 5/17/27 | 916,134 |
140,000 | Drive Auto Receivables Trust, Series 2020-2, Class C, 2.28%, 8/17/26 | 141,848 |
1,100,000 | Drive Auto Receivables Trust, Series 2021-1, Class D, 1.45%, 1/16/29 | 1,093,012 |
775,000 | Drive Auto Receivables Trust, Series 2021-2, Class D, 1.39%, 3/15/29 | 752,133 |
6
SCHEDULE OF PORTFOLIO INVESTMENTS
RBC Ultra-Short Fixed Income Fund (cont.)
December 31, 2021 (Unaudited)
Principal Amount | Value | |
$1,100,000 | Exeter Automobile Receivables Trust, Series 2021-4A, Class D, 1.96%, 1/17/28 | $1,097,103 |
500,000 | Ford Credit Auto Lease Trust, Series 2021-A, Class C, 0.78%, 9/15/25 | 497,745 |
105,000 | GM Financial Automobile Leasing Trust, Series 2019-3, Class C, 2.35%, 7/20/23 | 105,234 |
425,000 | GM Financial Automobile Leasing Trust, Series 2020-1, Class C, 2.04%, 12/20/23 | 428,252 |
1,150,000 | GM Financial Automobile Leasing Trust, Series 2020-2, Class D, 3.21%, 12/20/24 | 1,176,499 |
1,000,000 | GM Financial Automobile Leasing Trust, Series 2020-3, Class D, 1.71%, 2/20/25 | 1,000,738 |
150,000 | GM Financial Consumer Automobile Receivables Trust, Series 2018-3, Class B, 3.27%, 1/16/24 | 151,813 |
60,000 | GM Financial Consumer Automobile Receivables Trust, Series 2020-1, Class B, 2.03%, 4/16/25 | 60,821 |
50,000 | GM Financial Consumer Automobile Receivables Trust, Series 2020-1, Class C, 2.18%, 5/16/25 | 50,754 |
1,725,000 | GM Financial Leasing Trust, Series 2021-1, Class D, 1.01%, 7/21/25 | 1,706,642 |
1,040,000 | GreatAmerica Leasing Receivables Funding LLC, Series 2021-1, Class C, 0.92%, 12/15/27(b) | 1,014,412 |
1,277,105 | MVW LLC, Series 2021-1WA, Class B, 1.44%, 1/22/41(b) | 1,251,533 |
1,090,000 | MVW LLC, Series 2021-2A, Class B, 1.83%, 5/20/39(b) | 1,082,186 |
755,266 | MVW Owner Trust, Series 2018-1A, Class B, 3.60%, 1/21/36(b) | 775,811 |
900,000 | OZLM VIII Ltd., Series 2014-8A, Class A2R3, (LIBOR USD 3-Month + 1.650%), 1.87%, 10/17/29(a),(b) | 898,830 |
180,654 | Santander Drive Auto Receivables Trust, Series 2018-2, Class D, 3.88%, 2/15/24 | 182,022 |
6,170 | Santander Drive Auto Receivables Trust, Series 2019-1, Class C, 3.42%, 4/15/25 | 6,175 |
100,000 | Santander Drive Auto Receivables Trust, Series 2019-1, Class D, 3.65%, 4/15/25 | 101,260 |
400,000 | Santander Drive Auto Receivables Trust, Series 2019-2, Class D, 3.22%, 7/15/25 | 407,606 |
160,000 | Santander Drive Auto Receivables Trust, Series 2019-3, Class D, 2.68%, 10/15/25 | 162,133 |
1,000,000 | Santander Drive Auto Receivables Trust, Series 2020-2, Class D, 2.22%, 9/15/26 | 1,012,391 |
420,000 | Santander Drive Auto Receivables Trust, Series 2020-3, Class D, 1.64%, 11/16/26 | 423,013 |
1,000,000 | Santander Drive Auto Receivables Trust, Series 2020-4, Class D, 1.48%, 1/15/27 | 1,003,164 |
1,450,000 | Santander Drive Auto Receivables Trust, Series 2021-1, Class D, 1.13%, 11/16/26 | 1,442,456 |
1,100,000 | Santander Drive Auto Receivables Trust, Series 2021-2, Class D, 1.35%, 7/15/27 | 1,097,853 |
625,000 | Santander Drive Auto Receivables Trust, Series 2021-3, Class D, 1.33%, 9/15/27 | 620,429 |
7
SCHEDULE OF PORTFOLIO INVESTMENTS
RBC Ultra-Short Fixed Income Fund (cont.)
December 31, 2021 (Unaudited)
Principal Amount | Value | |
$1,150,000 | Santander Drive Auto Receivables Trust, Series 2021-4, Class D, 1.67%, 10/15/27 | $1,142,524 |
258,954 | Santander Retail Auto Lease Trust, Series 2019-A, Class C, 3.30%, 5/22/23(b) | 259,447 |
240,000 | Santander Retail Auto Lease Trust, Series 2019-B, Class C, 2.77%, 8/21/23(b) | 241,944 |
450,000 | Santander Retail Auto Lease Trust, Series 2020-A, Class C, 2.08%, 3/20/24(b) | 455,356 |
1,500,000 | Santander Retail Auto Lease Trust, Series 2020-B, Class C, 1.18%, 12/20/24(b) | 1,490,587 |
995,130 | Sunnova Helios II Issuer LLC, Series 2019-AA, Class A, 3.75%, 6/20/46(b) | 1,034,343 |
100,000 | Tesla Auto Lease Trust, Series 2019-A, Class C, 2.68%, 1/20/23(b) | 101,244 |
1,475,000 | Tesla Auto Lease Trust, Series 2019-A, Class D, 3.37%, 1/20/23(b) | 1,498,727 |
600,000 | Tesla Auto Lease Trust, Series 2020-A, Class D, 2.33%, 2/20/24(b) | 607,387 |
600,000 | Tesla Auto Lease Trust, Series 2021-A, Class D, 1.34%, 3/20/25(b) | 594,222 |
1,300,000 | Tesla Auto Lease Trust, Series 2021-B, Class D, 1.32%, 9/22/25(b) | 1,281,499 |
170,000 | Verizon Owner Trust, Series 2019-C, Class B, 2.06%, 4/22/24 | 172,085 |
1,400,000 | World Omni Auto Receivables Trust, Series 2021-B, Class C, 1.29%, 12/15/27 | 1,378,928 |
Total Asset Backed Securities | 46,066,504 | |
(Cost $46,365,609) | ||
U.S. Treasury Obligations — 8.20% | ||
U.S. Treasury Bill — 3.52% | ||
6,000,000 | 0.00%, 6/30/22(d) | 5,994,698 |
U.S. Treasury Notes — 4.68% | ||
8,000,000 | 0.38%, 10/31/23 | 7,954,375 |
Total U.S. Treasury Obligations | 13,949,073 | |
(Cost $13,949,026) | ||
Collateralized Mortgage Obligations — 3.08% | ||
925,000 | BX Commercial Mortgage Trust, Series 2021-XL2, Class D, (LIBOR USD 1-Month + 1.397%), 1.51%, 10/15/38(a),(b) | 920,972 |
1,245,448 | Fannie Mae Connecticut Avenue Securities, Series 2021-R02, Class 2M1, (Secured Overnight Financing Rate 30 Day Average + 0.900%), 0.95%, 11/25/41(a),(b) | 1,245,060 |
944,597 | MFA Trust, Series 2020-NQM3, Class A3, 1.63%, 1/26/65(b),(c) | 944,313 |
300,000 | Verus Securitization Trust, Series 2020-4, Class M1, 3.29%, 5/25/65(b),(c) | 303,986 |
1,500,000 | Vista Point Securitization Trust, Series 2020-1, Class M1, 4.15%, 3/25/65(b),(c) | 1,523,283 |
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SCHEDULE OF PORTFOLIO INVESTMENTS
RBC Ultra-Short Fixed Income Fund (cont.)
December 31, 2021 (Unaudited)
Principal Amount | Value | |
$286,000 | Vista Point Securitization Trust, Series 2020-2, Class M1, 3.40%, 4/25/65(b),(c) | $289,938 |
Total Collateralized Mortgage Obligations | 5,227,552 | |
(Cost $5,240,332) | ||
U.S. Government Agency Backed Mortgages — 0.68% | ||
Fannie Mae — 0.00% | ||
251 | Pool #888467, 6.00%, 6/1/22 | 252 |
2,069 | Series 2003-55, Class CD, 5.00%, 6/25/23 | 2,117 |
2,369 | ||
FREMF Mortgage Trust — 0.68% | ||
1,120,000 | Series 2016-K722, Class B, 3.87%, 7/25/49(b),(c) | 1,156,723 |
Total U.S. Government Agency Backed Mortgages | 1,159,092 | |
(Cost $1,178,424) | ||
Shares | ||
Investment Company — 3.04% | ||
5,162,285 | U.S. Government Money Market Fund, RBC Institutional Class 1(e) | 5,162,285 |
Total Investment Company | 5,162,285 | |
(Cost $5,162,285) | ||
Total Investments | $168,627,940 | |
(Cost $169,373,947) — 99.19% | ||
Other assets in excess of liabilities — 0.81% | 1,384,820 | |
NET ASSETS — 100.00% | $170,012,760 |
(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) | Zero Coupon Bond. The rate represents the yield at time of purchase. |
(e) | Affiliated investment. |
9
SCHEDULE OF PORTFOLIO INVESTMENTS
RBC Ultra-Short Fixed Income Fund (cont.)
December 31, 2021 (Unaudited)
Financial futures contracts as of December 31, 2021:
Short Position | Number of Contracts | Expiration Date | Value/Unrealized Appreciation | Notional Value | Clearinghouse | ||||||
Two Year U.S. Treasury Note | 155 | March 2022 | $19,375 | USD | $33,816,641 | Barclays Capital Group | |||||
Total | $19,375 |
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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