SCHEDULE OF PORTFOLIO INVESTMENTS
RBC SMID Cap Growth Fund
December 31, 2023 (Unaudited)
| Shares | Value | |
| Common Stocks — 98.36% | ||
| Communication Services — 3.41% | ||
| 12,787 | Nexstar Media Group, Inc. | $2,004,362 |
| 70,508 | PubMatic, Inc., Class A* | 1,149,986 |
| 42,150 | TechTarget, Inc.* | 1,469,349 |
| 4,623,697 | ||
| Consumer Discretionary — 12.32% | ||
| 9,750 | Burlington Stores, Inc.* | 1,896,180 |
| 16,299 | Columbia Sportswear Co. | 1,296,422 |
| 20,080 | Fox Factory Holding Corp.* | 1,354,998 |
| 26,969 | Gentherm, Inc.* | 1,412,097 |
| 46,420 | G-III Apparel Group Ltd.* | 1,577,352 |
| 12,646 | Installed Building Products, Inc. | 2,311,942 |
| 14,458 | LCI Industries | 1,817,515 |
| 25,540 | Ollie’s Bargain Outlet Holdings, Inc.* | 1,938,230 |
| 19,850 | Planet Fitness, Inc., Class A* | 1,449,050 |
| 13,560 | Texas Roadhouse, Inc. | 1,657,439 |
| 16,711,225 | ||
| Consumer Staples — 2.62% | ||
| 6,105 | Casey’s General Stores, Inc. | 1,677,288 |
| 27,161 | Performance Food Group Co.* | 1,878,183 |
| 3,555,471 | ||
| Energy — 2.67% | ||
| 179,840 | TechnipFMC Plc | 3,621,978 |
| Financials — 6.44% | ||
| 12,656 | FirstCash Holdings, Inc. | 1,371,784 |
| 7,692 | Jack Henry & Associates, Inc. | 1,256,950 |
| 5,967 | Kinsale Capital Group, Inc. | 1,998,408 |
| 25,310 | Stifel Financial Corp. | 1,750,186 |
| 12,123 | WEX, Inc.* | 2,358,530 |
| 8,735,858 | ||
| Health Care — 19.16% | ||
| 115,560 | Avid Bioservices, Inc.* | 751,140 |
| 25,551 | Azenta, Inc.* | 1,664,392 |
| 26,210 | Bio-Techne Corp. | 2,022,364 |
| 67,040 | Certara, Inc.* | 1,179,234 |
| 7,800 | Charles River Laboratories International, Inc.* | 1,843,920 |
| 14,340 | CONMED Corp. | 1,570,373 |
| 22,317 | Haemonetics Corp.* | 1,908,327 |
| 17,814 | HealthEquity, Inc.* | 1,181,068 |
| 25,070 | Integer Holdings Corp.* | 2,483,936 |
| 25,945 | Integra LifeSciences Holdings Corp.* | 1,129,905 |
| 6,870 | Medpace Holdings, Inc.* | 2,105,861 |
| 36,738 | Merit Medical Systems, Inc.* | 2,790,618 |
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SCHEDULE OF PORTFOLIO INVESTMENTS
RBC SMID Cap Growth Fund (cont.)
December 31, 2023 (Unaudited)
| Shares | Value | |
| 81,160 | Neogen Corp.* | $1,632,128 |
| 31,950 | Omnicell, Inc.* | 1,202,278 |
| 10,320 | Repligen Corp.* | 1,855,536 |
| 21,420 | STAAR Surgical Co.* | 668,518 |
| 25,989,598 | ||
| Industrials — 20.18% | ||
| 11,430 | AGCO Corp. | 1,387,716 |
| 32,654 | Ameresco, Inc., Class A* | 1,034,152 |
| 13,233 | Applied Industrial Technologies, Inc. | 2,285,207 |
| 14,270 | ASGN, Inc.* | 1,372,346 |
| 4,480 | CACI International, Inc., Class A* | 1,450,893 |
| 12,050 | EnPro Industries, Inc. | 1,888,717 |
| 54,835 | ExlService Holdings, Inc.* | 1,691,660 |
| 15,862 | ICF International, Inc. | 2,126,936 |
| 13,230 | John Bean Technologies Corp. | 1,315,723 |
| 7,277 | Landstar System, Inc. | 1,409,191 |
| 43,764 | Mercury Systems, Inc.* | 1,600,449 |
| 10,661 | MSC Industrial Direct Co., Inc., Class A | 1,079,533 |
| 9,660 | Paylocity Holding Corp.* | 1,592,451 |
| 7,890 | RBC Bearings, Inc.* | 2,247,782 |
| 14,860 | Tetra Tech, Inc. | 2,480,580 |
| 17,759 | Woodward, Inc. | 2,417,533 |
| 27,380,869 | ||
| Information Technology — 26.11% | ||
| 20,787 | Altair Engineering, Inc., Class A* | 1,749,226 |
| 10,633 | Badger Meter, Inc. | 1,641,416 |
| 11,289 | CyberArk Software Ltd.* | 2,472,855 |
| 26,099 | Diodes, Inc.* | 2,101,492 |
| 34,160 | Dynatrace, Inc.* | 1,868,210 |
| 30,521 | Envestnet, Inc.* | 1,511,400 |
| 30,598 | ePlus, Inc.* | 2,442,944 |
| 15,510 | Five9, Inc.* | 1,220,482 |
| 6,806 | Globant SA* | 1,619,692 |
| 56,550 | Informatica, Inc., Class A* | 1,605,455 |
| 5,168 | Littelfuse, Inc. | 1,382,750 |
| 8,393 | Manhattan Associates, Inc.* | 1,807,181 |
| 12,576 | Novanta, Inc.* | 2,117,924 |
| 18,220 | Onto Innovation, Inc.* | 2,785,838 |
| 24,140 | Perficient, Inc.* | 1,588,895 |
| 14,840 | Plexus Corp.* | 1,604,649 |
| 58,360 | Sapiens International Corp. NV | 1,688,938 |
| 12,910 | Silicon Laboratories, Inc.* | 1,707,606 |
| 12,952 | SPS Commerce, Inc.* | 2,510,616 |
| 35,427,569 | ||
| Materials — 4.32% | ||
| 11,285 | AptarGroup, Inc. | 1,395,051 |
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SCHEDULE OF PORTFOLIO INVESTMENTS
RBC SMID Cap Growth Fund (cont.)
December 31, 2023 (Unaudited)
| Shares | Value | |
| 10,608 | Balchem Corp. | $1,577,940 |
| 16,663 | HB Fuller Co. | 1,356,535 |
| 5,482 | Reliance Steel & Aluminum Co. | 1,533,206 |
| 5,862,732 | ||
| Real Estate — 1.13% | ||
| 14,384 | Lamar Advertising Co., REIT, Class A | 1,528,731 |
| Total Common Stocks | 133,437,728 | |
| (Cost $108,538,880) | ||
| Investment Company — 1.24% | ||
| 1,688,408 | RBC BlueBay U.S. Goverment Money Market Fund, Institutional Class 1(a) | 1,688,408 |
| Total Investment Company | 1,688,408 | |
| (Cost $1,688,408) | ||
| Total Investments | $135,126,136 | |
| (Cost $110,227,288) — 99.60% | ||
| Other assets in excess of liabilities — 0.40% | 537,287 | |
| NET ASSETS — 100.00% | $135,663,423 | |
| * | Non-income producing security. |
| (a) | Affiliated investment. |
| Abbreviations used are defined below: |
| REIT - Real Estate Investment Trust |
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