SCHEDULE OF PORTFOLIO INVESTMENTS

RBC International Opportunities Fund 

December 31, 2023 (Unaudited)

Shares		Value
Common Stocks — 98.43%
Australia — 5.36%
35,035	Rio Tinto Plc	$2,605,942
116,779	Woodside Energy Group Ltd.	2,465,978
		5,071,920
Austria — 2.07%
48,443	Erste Group Bank AG	1,962,181
Belgium — 3.80%
55,656	Anheuser-Busch InBev NV	3,592,489
China — 2.10%
183,146	Wanhua Chemical Group Co. Ltd., Class A	1,985,152
Denmark — 4.39%
40,082	Novo Nordisk A/S, Class B	4,153,745
France — 3.18%
17,101	Safran SA	3,015,084
Germany — 5.29%
83,727	Deutsche Post AG	4,144,158
12,465	Mercedes-Benz Group AG	860,058
		5,004,216
Hong Kong — 5.16%
561,000	AIA Group Ltd.	4,882,316
India — 4.54%
64,066	HDFC Bank Ltd., ADR	4,299,469
Indonesia — 2.58%
6,582,300	Bank Rakyat Indonesia Persero Tbk PT	2,446,430
Ireland — 2.16%
23,501	Kerry Group Plc, Class A	2,039,872
20	Kerry Group Plc, Class A	1,750
		2,041,622
Japan — 11.57%
281,600	Astellas Pharma, Inc.	3,349,145
62,000	MISUMI Group, Inc.	1,046,793
77,000	Oriental Land Co. Ltd	2,861,959

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SCHEDULE OF PORTFOLIO INVESTMENTS

RBC International Opportunities Fund  (cont.)

December 31, 2023 (Unaudited)

Shares		Value
44,100	Recruit Holdings Co. Ltd.	$1,843,871
19,500	Sony Group Corp.	1,845,342
		10,947,110
Luxembourg — 1.80%
26,091	Eurofins Scientific SE	1,701,979
Netherlands — 2.28%
15,144	Wolters Kluwer NV	2,154,529
Norway — 3.69%
110,092	Equinor ASA	3,489,032
Singapore — 4.49%
167,890	DBS Group Holdings Ltd.	4,245,742
South Africa — 3.29%
18,189	Naspers Ltd., Class N	3,113,412
Sweden — 2.37%
90,648	Essity AB, Class B	2,246,455
Switzerland — 2.70%
1,766	Partners Group Holding AG	2,553,550
Taiwan — 11.27%
4,718,134	E.Sun Financial Holding Co. Ltd.	3,963,827
64,418	Taiwan Semiconductor Manufacturing Co. Ltd., ADR	6,699,472
		10,663,299
Thailand — 2.32%
2,550,200	Minor International Public Co. Ltd.	2,200,883
United Kingdom — 11.56%
37,506	Croda International Plc	2,412,534
468,941	Haleon Plc	1,919,972
50,721	InterContinental Hotels Group Plc	4,573,812
636,524	Legal & General Group Plc	2,034,134
		10,940,452
Zambia — 0.46%
53,293	First Quantum Minerals Ltd.	436,383
Total Common Stocks		93,147,450
(Cost $91,234,441)

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SCHEDULE OF PORTFOLIO INVESTMENTS

RBC International Opportunities Fund  (cont.)

December 31, 2023 (Unaudited)

Shares		Value
Investment Company — 0.24%
226,661	RBC BlueBay U.S. Goverment Money Market Fund, Institutional Class 1 (a)	$226,661
Total Investment Company		226,661
(Cost $226,661)
Total Investments		$93,374,111
(Cost $91,461,102) — 98.67%
Other assets in excess of liabilities — 1.33%		1,255,800
NET ASSETS — 100.00%		$94,629,911

(a) Affiliated investment.

Abbreviations used are defined below:

ADR - American Depositary Receipt

Portfolio Diversification (Unaudited)

Industries	Percentage of Net Assets
Financials	27.88%
Consumer Discretionary	16.32%
Industrials	12.90%
Consumer Staples	10.36%
Health Care	9.73%
Materials	7.86%
Information Technology	7.08%
Energy	6.30%
Other*	1.57%
	100.00%

* Includes cash, Investment Company, interest and dividend receivable, pending trades and Fund share transactions, and accrued expenses payable.

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