SCHEDULE OF PORTFOLIO INVESTMENTS
RBC China Equity Fund 

June 30, 2026 (Unaudited)
Shares   Value
Common Stocks — 99.6%  
China — 91.8%  
1,312 ACM Research Shanghai, Inc., Class A $84,260
19,844 Alibaba Group Holding Ltd. 237,899
88,000 Aluminum Corp. of China Ltd., Class H 84,517
2,859 Asymchem Laboratories Tianjin Co. Ltd., Class A 68,413
400 Baidu, Inc., ADR* 45,716
6,470 Baidu, Inc., Class A* 92,366
14,700 Baoshan Iron & Steel Co. Ltd., Class A 11,785
7,500 BYD Co. Ltd., Class H 69,494
955 Cambricon Technologies Corp. Ltd., Class A 226,125
174,472 CGN Mining Co. Ltd. 54,739
8,500 Chifeng Jilong Gold Mining Group Ltd., Class A 33,438
68,476 China Construction Bank Corp., Class H 70,630
52,000 China Life Insurance Co. Ltd., Class H 177,981
7,577 China Merchants Bank Co. Ltd., Class H 43,505
6,100 China Merchants Energy Shipping Co. Ltd., Class A 15,861
16,000 China National Building Material Co. Ltd., Class H 10,946
10,697 China Resources Land Ltd. 41,096
103,934 Chongqing Rural Commercial Bank Co. Ltd., Class H 76,657
19,200 Chongqing Rural Commercial Bank Co. Ltd., Class A 17,287
4,500 CITIC Securities Co. Ltd., Class A 19,106
7,200 Contemporary Amperex Technology Co. Ltd., Class A 418,533
378 Contemporary Amperex Technology Co. Ltd., Class H 34,050
202,682 CSPC Pharmaceutical Group Ltd. 181,047
998 Foshan Haitian Flavouring & Food Co. Ltd., Class H 3,803
9,174 Fuyao Glass Industry Group Co. Ltd., Series H(a) 59,991
45,000 Geely Automobile Holdings Ltd. 97,149
1,300 GigaDevice Semiconductor, Inc., Class A 158,258
2,200 Gpixel Changchun Microelectronics, Inc., Class H* 31,137
5,100 Guangdong Songfa Ceramics Co. Ltd., Class A* 104,761
600 Hengyi Petrochemical Co. Ltd., Class A 1,202
3,300 Hexing Electrical Co. Ltd., Class A 10,742
79,383 Industrial & Commercial Bank of China Ltd., Class H 65,212
3,727 Jiangsu Hengrui Pharmaceuticals Co. Ltd., Class H 27,575
65,319 JINGDONG Industrials, Inc.* 93,096
637 JL Mag Rare-Earth Co. Ltd., Class A 2,915
385 Kanzhun Ltd., ADR 4,955
79 KE Holdings, Inc., ADR 1,148
2,833 Keda Industrial Group Co. Ltd., Class A 5,792
15,431 Kingboard Chemical Holdings Ltd. 233,792
2,542 Lens Technology Co. Ltd., Class H 9,162
7,000 Luxshare Precision Industry Co. Ltd., Class A 73,102
18,898 Meituan, Class B(a),* 166,819
3,036 Midea Group Co. Ltd., Class H 32,081
700 Mixue Group, Class H* 20,434
13,308 Muyuan Foods Group Co. Ltd., Class H 49,301
4,200 NAURA Technology Group Co. Ltd., Class A 550,837
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SCHEDULE OF PORTFOLIO INVESTMENTS
RBC China Equity Fund  (cont.)

June 30, 2026 (Unaudited)
Shares   Value
4,740 NetEase, Inc. $121,732
19,176 New Horizon Health Ltd.(b),(c) 0
463 PDD Holdings, Inc. , ADR* 35,318
26,000 PetroChina Co. Ltd., Class H 28,061
30,112 Ping An Insurance Group Co. of China Ltd., Series H 196,896
13,160 POCO Holding Co. Ltd., Class A 185,360
400 Shandong Sinocera Functional Material Co. Ltd., Class A 6,123
1,650 Shanghai Fudan Microelectronics Group Co. Ltd., Class H 6,576
100 Shanghai Iluvatar CoreX Semiconductor Co. Ltd., Class H* 9,883
32,800 Shanghai Top Numerical Control Technology Co. Ltd., Class H* 100,957
1,524 Shenzhen Inovance Technology Co. Ltd., Class A 14,944
501 Shenzhen SEICHI Technologies Co. Ltd., Class A 53,378
6,533 Shenzhou International Group Holdings Ltd. 32,959
3,200 Sieyuan Electric Co. Ltd., Class A 81,908
200 Sungrow Power Supply Co. Ltd., Class A 4,693
500 Sunny Optical Technology Group Co. Ltd. 3,915
700 Sunresin New Materials Co. Ltd., Class A 6,096
2,100 Suzhou TFC Optical Communication Co. Ltd., Class A 95,608
11,243 Tencent Holdings Ltd. 620,418
3,500 Tianqi Lithium Corp., Class A* 31,770
622 Trip.com Group Ltd.* 24,731
6,500 Wanhua Chemical Group Co. Ltd., Class A 65,725
27,000 Weichai Power Co. Ltd., Class H 118,438
31,900 Weichai Power Co. Ltd., Class A 129,345
13,400 Xiaomi Corp., Class B(a),* 37,219
600 Yunnan Energy New Material Group Co. Ltd., Class A* 5,945
700 Zhejiang Huayou Cobalt Co. Ltd., Class A 5,010
4,500 Zhejiang Shuanghuan Driveline Co. Ltd., Class A 27,697
700 Zhongji Innolight Co. Ltd., Class A 133,288
30,712 Zijin Mining Group Co. Ltd., Class H 108,598
    6,211,306
Hong Kong — 1.9%  
2,400 ASMPT Ltd. 73,985
1,500 Techtronic Industries Co. Ltd. 24,962
2,703 Zijin Gold International Co. Ltd. 30,890
    129,837
Korea — 0.6%  
23 SK Hynix, Inc. 40,585
     
South Africa — 4.2%  
5,634 Naspers Ltd., Class N 282,905
     
Taiwan — 1.0%  
214 Delta Electronics, Inc. 13,440
725 Taiwan Semiconductor Manufacturing Co. Ltd. 57,196
    70,636
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SCHEDULE OF PORTFOLIO INVESTMENTS
RBC China Equity Fund  (cont.)

June 30, 2026 (Unaudited)
Shares   Value
United Arab Emirates — 0.1%  
3,000 Softcare Ltd. $9,568
     
Total Common Stocks 6,744,837
(Cost $6,710,022)  
Total Investments $6,744,837
(Cost $6,710,022) — 99.6%  
Other assets in excess of liabilities — 0.4% 23,954
NET ASSETS — 100.0% $6,768,791

(a) 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.
(b) The Pricing Committee has fair valued this security under procedures established by the Fund’s Board of Trustees.
(c) Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.
* Non-income producing security.
    
Abbreviations used are defined below:
ADR - American Depositary Receipt
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