# EDGAR Filing Document

**Accession Number:** 0001272950
**File Stem:** 0001752724-23-049083
**Filing Date:** 2023-3
**Character Count:** 70177
**Document Hash:** 6865df428714bd35f0421520b006d605
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-049083.hdr.sgml**: 20230301

**ACCESSION NUMBER**: 0001752724-23-049083

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221230

**FILED AS OF DATE**: 20230301

**DATE AS OF CHANGE**: 20230301

**PERIOD START**: 20230331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** RBC FUNDS TRUST
- **CENTRAL INDEX KEY:** 0001272950
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21475
- **FILM NUMBER:** 23690799

**BUSINESS ADDRESS:**
- **STREET 1:** 50 SOUTH SIXTH STREET
- **STREET 2:** SUITE 2350
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55402
- **BUSINESS PHONE:** 612-313-1341

**MAIL ADDRESS:**
- **STREET 1:** 50 SOUTH SIXTH STREET
- **STREET 2:** SUITE 2350
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55402

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TAMARACK FUNDS TRUST
- **DATE OF NAME CHANGE:** 20031212

## Series and Classes Contracts Data

### RBC Ultra-Short Fixed Income Fund (Series ID: S000043719)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000135577 | Class I      | RUSIX           |
| C000138516 | Class A      | RULFX           |

## Nport-Ex

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC Ultra-Short Fixed Income Fund

------

**December 31, 2022 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Principal<br>Amount** |  | **Value** |
|  **Corporate Bonds — 43.18%** | **Corporate Bonds — 43.18%** |  |
|  **Basic Materials — 1.13%** | **Basic Materials — 1.13%** |  |
| $400000 | Celanese US Holdings LLC, 5.90%, 7/5/24 | $399788 |
| 600000 | DuPont de Nemours, Inc., (LIBOR USD 3-Month + 1.110%), 5.72%, 11/15/23(a) | 599384 |
|  |  | 999172 |
|  **Communications — 0.56%** | **Communications — 0.56%** |  |
| 500000 | Videotron Ltd., 5.38%, 6/15/24(b) | 496236 |
|  **Consumer, Cyclical — 3.45%** | **Consumer, Cyclical — 3.45%** |  |
| 525000 | Brunswick Corp., 0.85%, 8/18/24 | 485126 |
| 725000 | Daimler Trucks Finance North America LLC, (SOFR RATE + 1.000%), 4.66%, 4/5/24(a),(b) | 722027 |
| 500000 | Ford Motor Credit Co. LLC, 3.66%, 9/8/24 | 477608 |
| 865000 | General Motors Financial Co., Inc., (SOFR RATE + 1.040%), 5.24%, 2/26/27(a) | 806345 |
| 575000 | Warnermedia Holdings, Inc., 3.43%, 3/15/24(b) | 558073 |
|  |  | 3049179 |
|  **Consumer, Non-cyclical — 2.69%** | **Consumer, Non-cyclical — 2.69%** |  |
| 1150000 | HCA, Inc., 5.38%, 2/1/25 | 1148760 |
| 1350000 | JDE Peet's NV, 0.80%, 9/24/24(b) | 1234361 |
|  |  | 2383121 |
|  **Energy — 1.67%** | **Energy — 1.67%** |  |
| 1325000 | Continental Resources, Inc., 2.27%, 11/15/26(b) | 1149069 |
| 200000 | Energy Transfer LP, 3.60%, 2/1/23 | 199562 |
| 130000 | EQT Corp., 5.68%, 10/1/25 | 129765 |
|  |  | 1478396 |
|  **Financial — 25.85%** | **Financial — 25.85%** |  |
| 1000000 | AerCap Ireland Capital DAC / AerCap Global Aviation Trust, 4.88%, 1/16/24 | 990465 |
| 1000000 | Athene Global Funding, (Secured Overnight Financing Average Index + 0.715%), 4.41%, 1/7/25(a),(b) | 971952 |
| 650000 | Bank of America Corp., GMTN, 0.52%, 6/14/24(c) | 634054 |
| 1250000 | Bank of America Corp., (LIBOR USD 3-Month + 0.960%), GMTN, 5.29%, 7/23/24(a) | 1249431 |
| 250000 | Barclays Plc, 1.01%, 12/10/24(c) | 237996 |
| 600000 | Barclays Plc, 3.65%, 3/16/25 | 575904 |
| 1000000 | Barclays Plc, 5.30%, 8/9/26(c) | 993129 |
| 300000 | Canadian Imperial Bank of Commerce, (LIBOR USD 3-Month + 0.660%), 5.39%, 9/13/23(a) | 299884 |
| 1305000 | Charles Schwab Corp. (The), (Secured Overnight Financing Average Index + 1.050%), 5.30%, 3/3/27(a) | 1269183 |
| 250000 | Citigroup, Inc., 4.14%, 5/24/25(c) | 246181 |
| 1000000 | Citigroup, Inc., (SOFR RATE + 0.770%), 5.06%, 6/9/27(a) | 955303 |
| 500000 | Goldman Sachs Group, Inc. (The), 0.67%, 3/8/24(c)  | 494010 |

---

**1** 

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC Ultra-Short Fixed Income Fund (cont.)

------

**December 31, 2022 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Principal<br>Amount** |  | **Value** |
| $750000 | Goldman Sachs Group, Inc. (The), (SOFR RATE + 0.700%), 4.60%, 1/24/25(a) | $738137 |
| 250000 | HSBC Holdings Plc, 0.73%, 8/17/24(c) | 240980 |
| 550000 | HSBC Holdings Plc, 0.98%, 5/24/25(c) | 508793 |
| 350000 | HSBC Holdings Plc, 3.95%, 5/18/24(c) | 347003 |
| 1000000 | HSBC Holdings Plc, (SOFR RATE + 1.430%), 5.70%, 3/10/26(a) | 981188 |
| 250000 | JPMorgan Chase & Co., 3.56%, 4/23/24(c) | 248395 |
| 1000000 | JPMorgan Chase & Co., (LIBOR USD 3-Month + 0.850%), GMTN, 4.76%, 1/10/25(a) | 997784 |
| 500000 | JPMorgan Chase & Co., (SOFR RATE + 0.580%), 4.90%, 6/23/25(a) | 489361 |
| 400000 | Lloyds Banking Group Plc, 0.70%, 5/11/24(c) | 392195 |
| 1000000 | Lloyds Banking Group Plc, 4.72%, 8/11/26(c) | 976857 |
| 1335000 | Mitsubishi UFJ Financial Group, Inc., 5.06%, 9/12/25(c) | 1326501 |
| 475000 | Morgan Stanley, MTN, 1.16%, 10/21/25(c) | 437061 |
| 905000 | Morgan Stanley, 3.62%, 4/17/25(c) | 882735 |
| 775000 | Nomura Holdings, Inc., 5.10%, 7/3/25 | 767133 |
| 680000 | Santander Holdings USA, Inc., 4.26%, 6/9/25(c) | 659004 |
| 500000 | Santander UK Group Holdings Plc, 3.37%, 1/5/24(c) | 500000 |
| 750000 | Societe Generale SA, (SOFR RATE + 1.050%), 4.93%, 1/21/26(a),(b) | 722105 |
| 1400000 | UBS Group AG, 4.49%, 5/12/26(b),(c) | 1366179 |
| 285000 | VICI Properties LP, REIT, 4.38%, 5/15/25 | 277560 |
| 1170000 | Wells Fargo & Co., GMTN, 3.53%, 3/24/28(c) | 1084681 |
|  |  | 22861144 |
|  **Technology — 4.77%** | **Technology — 4.77%** |  |
| 375000 | Kyndryl Holdings, Inc., 2.05%, 10/15/26 | 310054 |
| 1025000 | Microchip Technology, Inc., 0.97%, 2/15/24 | 974480 |
| 500000 | NXP BV / NXP Funding LLC / NXP USA, Inc., 2.70%, 5/1/25 | 470093 |
| 1000000 | Qorvo, Inc., 1.75%, 12/15/24(b) | 922635 |
| 875000 | Skyworks Solutions, Inc., 0.90%, 6/1/23 | 857091 |
| 725000 | Western Digital Corp., 4.75%, 2/15/26 | 682044 |
|  |  | 4216397 |
|  **Utilities — 3.06%** | **Utilities — 3.06%** |  |
| 1000000 | CenterPoint Energy, Inc., (Secured Overnight Financing Average Index + 0.650%), 4.78%, 5/13/24(a) | 987781 |
| 1115000 | Emera US Finance LP, 0.83%, 6/15/24 | 1043284 |
| 690000 | Vistra Operations Co. LLC, 5.13%, 5/13/25(b) | 675359 |
|  |  | 2706424 |
|  **Total Corporate Bonds**<br> (Cost $39,787,125) | **Total Corporate Bonds**<br> (Cost $39,787,125) | **38190069** |
|  **Asset Backed Securities — 29.67%** | **Asset Backed Securities — 29.67%** |  |
| 234000 | AmeriCredit Automobile Receivables Trust, Series 2020-3, Class D, 1.49%, 9/18/26 | 216942 |

---

**2** 

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC Ultra-Short Fixed Income Fund (cont.)

------

**December 31, 2022 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Principal<br>Amount** |  | **Value** |
| $160000 | AmeriCredit Automobile Receivables Trust, Series 2019-1, Class D, 3.62%, 3/18/25 | $157278 |
| 300000 | AmeriCredit Automobile Receivables Trust, Series 2019-3, Class D, 2.58%, 9/18/25 | 287771 |
| 100000 | AmeriCredit Automobile Receivables Trust, Series 2020-1, Class D, 1.80%, 12/18/25 | 94882 |
| 390000 | AmeriCredit Automobile Receivables Trust, Series 2021-1, Class D, 1.21%, 12/18/26 | 345949 |
| 145000 | CarMax Auto Owner Trust, Series 2019-1, Class D, 4.04%, 8/15/25 | 144204 |
| 300000 | CarMax Auto Owner Trust, Series 2019-3, Class C, 2.60%, 6/16/25 | 293363 |
| 705000 | CarMax Auto Owner Trust, Series 2019-3, Class D, 2.85%, 1/15/26 | 679675 |
| 100000 | CarMax Auto Owner Trust, Series 2019-4, Class C, 2.60%, 9/15/25 | 96987 |
| 125000 | CarMax Auto Owner Trust, Series 2020-1, Class C, 2.34%, 11/17/25 | 120237 |
| 572000 | CarMax Auto Owner Trust, Series 2020-2, Class D, 5.75%, 5/17/27 | 560461 |
| 1000000 | CarMax Auto Owner Trust, Series 2020-3, Class D, 2.53%, 1/15/27 | 930392 |
| 900000 | CarMax Auto Owner Trust, Series 2021-1, Class D, 1.28%, 7/15/27 | 744222 |
| 1189816 | Carvana Auto Receivables Trust, Series 2021-N1, Class D, 1.50%, 1/10/28 | 1144932 |
| 1750000 | Carvana Auto Receivables Trust, Series 2021-N3, Class D, 1.58%, 6/12/28 | 1608790 |
| 1399000 | Carvana Auto Receivables Trust, Series 2021-N4, Class D, 2.30%, 9/11/28 | 1255484 |
| 1430000 | Dell Equipment Finance Trust, Series 2021-2, Class D, 1.21%, 6/22/27(b) | 1343554 |
| 105150 | Drive Auto Receivables Trust, Series 2019-2, Class D, 3.69%, 8/17/26 | 104158 |
| 256419 | Drive Auto Receivables Trust, Series 2019-3, Class D, 3.18%, 10/15/26 | 253347 |
| 230033 | Drive Auto Receivables Trust, Series 2019-4, Class D, 2.70%, 2/16/27 | 225897 |
| 14157 | Drive Auto Receivables Trust, Series 2020-1, Class C, 2.36%, 3/16/26 | 14133 |
| 900000 | Drive Auto Receivables Trust, Series 2020-1, Class D, 2.70%, 5/17/27 | 882964 |
| 84611 | Drive Auto Receivables Trust, Series 2020-2, Class C, 2.28%, 8/17/26 | 83937 |
| 1100000 | Drive Auto Receivables Trust, Series 2021-1, Class D, 1.45%, 1/16/29 | 1035297 |
| 775000 | Drive Auto Receivables Trust, Series 2021-2, Class D, 1.39%, 3/15/29 | 713595 |
| 1500000 | Exeter Automobile Receivables Trust, Series 2019-1A, Class E, 5.20%, 1/15/26(b) | 1485946 |

---

**3** 

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC Ultra-Short Fixed Income Fund (cont.)

------

**December 31, 2022 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Principal<br>Amount** |  | **Value** |
| $2340000 | Exeter Automobile Receivables Trust, Series 2019-3A, Class E, 4.00%, 8/17/26(b) | $2282363 |
| 1100000 | Exeter Automobile Receivables Trust, Series 2021-4A, Class D, 1.96%, 1/17/28 | 1005799 |
| 1000000 | Exeter Automobile Receivables Trust, Series 2022-1A, Class D, 3.02%, 6/15/28 | 919816 |
| 700000 | Exeter Automobile Receivables Trust, Series 2022-5A, Class B, 5.97%, 3/15/27 | 699681 |
| 60000 | GM Financial Consumer Automobile Receivables Trust, Series 2020-1, Class B, 2.03%, 4/16/25 | 58430 |
| 50000 | GM Financial Consumer Automobile Receivables Trust, Series 2020-1, Class C, 2.18%, 5/16/25 | 48680 |
| 1040000 | GreatAmerica Leasing Receivables Funding LLC, Series 2021-1, Class C, 0.92%, 12/15/27(b) | 913514 |
| 809321 | MVW LLC, Series 2021-2A, Class B, 1.83%, 5/20/39(b) | 725723 |
| 506676 | MVW Owner Trust, Series 2018-1A, Class B, 3.60%, 1/21/36(b) | 492807 |
| 900000 | OZLM VIII Ltd., Series 2014-8A, Class A2R3, (LIBOR USD 3-Month + 1.650%), 5.73%, 10/17/29(a),(b) | 868410 |
| 16145 | Santander Drive Auto Receivables Trust, Series 2019-1, Class D, 3.65%, 4/15/25 | 16116 |
| 78233 | Santander Drive Auto Receivables Trust, Series 2019-3, Class D, 2.68%, 10/15/25 | 77600 |
| 625000 | Santander Drive Auto Receivables Trust, Series 2021-3, Class D, 1.33%, 9/15/27 | 586157 |
| 896164 | Sunnova Helios II Issuer LLC, Series 2019-AA, Class A, 3.75%, 6/20/46(b) | 796484 |
| 600000 | Tesla Auto Lease Trust, Series 2021-A, Class D, 1.34%, 3/20/25(b) | 567044 |
| 1300000 | Tesla Auto Lease Trust, Series 2021-B, Class D, 1.32%, 9/22/25(b) | 1190245 |
| 170000 | Verizon Owner Trust, Series 2019-C, Class B, 2.06%, 4/22/24 | 169330 |
|  **Total Asset Backed Securities**<br> (Cost $28,144,535) | **Total Asset Backed Securities**<br> (Cost $28,144,535) | **26242596** |
|  **Collateralized Mortgage Obligations — 21.96%** | **Collateralized Mortgage Obligations — 21.96%** |  |
| 1010000 | AREIT Trust, Series 2022-CRE6, Class B, (Secured Overnight Financing Rate 30 Day Average + 1.850%), 5.68%, 1/16/37(a),(b) | 952352 |
| 1442011 | Bellemeade Re Ltd., Series 2019-2A, Class M1C, (LIBOR USD 1-Month + 2.000%), 6.39%, 4/25/29(a),(b) | 1431840 |
| 633260 | BX Commercial Mortgage Trust, Series 2021-21M, Class D, (LIBOR USD 1-Month + 1.426%), 5.74%, 10/15/36(a),(b) | 582021 |
| 857211 | BX Commercial Mortgage Trust, Series 2021-XL2, Class D, (LIBOR USD 1-Month + 1.397%), 5.72%, 10/15/38(a),(b) | 806320 |
| 1250000 | BX Commercial Mortgage Trust, Series 2022-CSMO, Class C, (Term SOFR 1M + 3.889%), 8.22%, 6/15/27(a),(b) | 1236176 |
| 1200000 | BX Mortgage Trust, Series 2022-MVRK, Class D, (Term SOFR 1M + 2.864%), 7.19%, 3/15/39(a),(b) | 1130599 |

---

**4** 

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC Ultra-Short Fixed Income Fund (cont.)

------

**December 31, 2022 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Principal<br>Amount** |  | **Value** |
| $1232334 | BX Trust, Series 2022-IND, Class D, (Term SOFR 1M + 2.839%), 7.17%, 4/15/37(a),(b) | $1162678 |
| 1500000 | COMM Mortgage Trust, Series 2014-CR15, Class D, 4.67%, 2/10/47(b),(d) | 1402668 |
| 535355 | Connecticut Avenue Securities Trust, Series 2021-R01, Class 1M2, (Secured Overnight Financing Rate 30 Day Average + 1.550%), 5.48%, 10/25/41(a),(b) | 524243 |
| 670000 | Connecticut Avenue Securities Trust, Series 2022-R01, Class 1M2, (Secured Overnight Financing Rate 30 Day Average + 1.900%), 5.83%, 12/25/41(a),(b) | 626526 |
| 750000 | Connecticut Avenue Securities Trust, Series 2022-R03, Class 1M2, (Secured Overnight Financing Rate 30 Day Average + 3.500%), 7.43%, 3/25/42(a),(b) | 755701 |
| 329000 | Connecticut Avenue Securities Trust, Series 2022-R04, Class 1M2, (Secured Overnight Financing Rate 30 Day Average + 3.100%), 7.03%, 3/25/42(a),(b) | 326000 |
| 1503912 | Eagle RE Ltd., Series 2019-1, Class M1B, (LIBOR USD 1-Month + 1.800%), 6.19%, 4/25/29(a),(b) | 1472179 |
| 1500000 | Ellington Financial Mortgage Trust, Series 2019-2, Class M1, 3.47%, 11/25/59(b),(d) | 1273568 |
| 697686 | Fannie Mae Connecticut Avenue Securities, Series 2021-R02, Class 2M1, (Secured Overnight Financing Rate 30 Day Average + 0.900%), 4.83%, 11/25/41(a),(b) | 678623 |
| 1380000 | Freddie Mac STACR REMIC Trust, Series 2022-DNA2, Class M1B, (Secured Overnight Financing Rate 30 Day Average + 2.400%), 6.33%, 2/25/42(a),(b) | 1341738 |
| 516318 | MFA Trust, Series 2020-NQM3, Class A3, 1.63%, 1/26/65(b),(d) | 455886 |
| 1500000 | SMRT, Series 2022-MINI, Class D, (Term SOFR 1M + 1.950%), 6.29%, 1/15/39(a),(b) | 1394489 |
| 300000 | Verus Securitization Trust, Series 2020-4, Class M1, 3.29%, 5/25/65(b),(d) | 251743 |
| 1500000 | Vista Point Securitization Trust, Series 2020-1, Class M1, 4.15%, 3/25/65(b),(d) | 1381825 |
| 286000 | Vista Point Securitization Trust, Series 2020-2, Class M1, 3.40%, 4/25/65(b),(d) | 234632 |
|  **Total Collateralized Mortgage Obligations**<br> (Cost $20,591,862) | **Total Collateralized Mortgage Obligations**<br> (Cost $20,591,862) | **19421807** |
|  **U.S. Treasury Obligations — 1.64%** | **U.S. Treasury Obligations — 1.64%** |  |
|  **U.S. Treasury Notes — 1.64%** | **U.S. Treasury Notes — 1.64%** |  |
| 1500000 | 0.25%, 9/30/23 | 1450781 |
|  **Total U.S. Treasury Obligations**<br> (Cost $1,451,386) | **Total U.S. Treasury Obligations**<br> (Cost $1,451,386) | **1450781** |
|  **U.S. Government Agency Backed Mortgages — 1.26%** | **U.S. Government Agency Backed Mortgages — 1.26%** |  |
|  **Fannie Mae — 0.00%** | **Fannie Mae — 0.00%** |  |
| 355 | Series 2003-55, Class CD, 5.00%, 6/25/23 | 354 |

---

**5** 

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC Ultra-Short Fixed Income Fund (cont.)

------

**December 31, 2022 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Principal<br>Amount** |  | **Value** |
|  **FREMF Mortgage Trust — 1.26%** | **FREMF Mortgage Trust — 1.26%** |  |
| $1120000 | Series 2016-K722, Class B, 3.95%, 7/25/49(b),(d) | $1115035 |
|  **Total U.S. Government Agency Backed Mortgages**<br> (Cost $1,173,667) | **Total U.S. Government Agency Backed Mortgages**<br> (Cost $1,173,667) | **1115389** |
| **Shares** |  |  |
|  **Investment Company — 1.37%** | **Investment Company — 1.37%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1212315 | U.S. Government Money Market Fund, RBC Institutional Class 1(e) | 1212315 |
|  **Total Investment Company**<br> (Cost $1,212,315) | **Total Investment Company**<br> (Cost $1,212,315) | **1212315** |
|  **Total Investments**<br> (Cost $92,360,890) — 99.08% | **Total Investments**<br> (Cost $92,360,890) — 99.08% | $**87632957** |
|  **Other assets in excess of liabilities — 0.92%** | **Other assets in excess of liabilities — 0.92%** | **810140** |
|  **NET ASSETS — 100.00%** | **NET ASSETS — 100.00%** | $**88443097** |

---

------

(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) 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.

(e) Affiliated investment.

**Financial futures contracts as of December 31, 2022:** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Short Position** | **Number of<br>Contracts** | **Expiration<br>Date** | **Value/Unrealized<br>Depreciation** | **Notional**<br>**Value** | **Notional**<br>**Value** | **Clearinghouse** |
|  Two Year U.S. Treasury Note | 155 | March 2023 | $(34351) | USD $| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31787110 | Barclays Capital Group |
|  **Total** |  |  | $(34351) |  |  |  |

---

**6** 

------

SCHEDULE OF PORTFOLIO INVESTMENTS

RBC Ultra-Short Fixed Income Fund (cont.)

------

**December 31, 2022 (Unaudited)** 

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 |

---

**7**

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** RBC Funds Trust

- **b. Investment Company Act file number:** 811-21475

- **c. CIK number of Registrant:** 0001272950

- **d. LEI of Registrant:** 549300456VUEP58RCU35

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 50 South Sixth Street

  - **City:** Minneapolis

  - **State:** MN

  - **Foreign country:** US

  - **Zip / Postal Code:** 55402

  - **Telephone number:** 612-376-7000

**Item A.2. Information about the Series.**

- **a. Name of Series:** RBC Ultra-Short Fixed Income Fund

- **b. EDGAR series identifier (if any):** S000043719

- **c. LEI of Series:** 5493005X23EI9LC0WP15

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2023-03-31

- **b. Date as of which information is reported:** 2022-12-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $88679545.13

**Total Liabilities:** $349000.03

**Net Assets:** $88330545.10

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.18759672 | **1-Year:** -0.22478762 | **5-Year:** -0.00246632 | **10-Year:** -0.00169166 | **30-Year:** 0.00000207

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** -0.00037744 | **1-Year:** -0.00824021 | **5-Year:** -0.00569553 | **10-Year:** -0.00390785 | **30-Year:** -0.00034328

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000138516 | -0.39%               | 0.88%                | 0.90%                |
| Class ID C000135577 | -0.38%               | 0.89%                | 0.91%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1388.19                 | $-847739.94                                |
| Month 2  | $-541147.60              | $1226575.18                                |
| Month 3  | $-388390.23              | $910507.05                                 |

**Designated Index Information**

- **Index Name:** ICE BofA US Corp BBB 1-3yr

- **Index Identifier:** C1A4

### Schedule of Portfolio Investments

| Name                                        | Title                                                      | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| VICI PROPERTIES LP                          | VICI Properties LP                                         | CUSIP: 925650AA1<br>LEI: 254900X4QE7SGKQLLN38 | Long             | DBT              | CORP              | US        |    285000 | PA      | $277559.48    | 0.31%             | 2025-05-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Drive Auto Receivables Trust                | Drive Auto Receivables Trust 2020-1                        | CUSIP: 26208QAG2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    900000 | PA      | $882963.93    | 1.00%             | 2027-05-17      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| DAIMLER TRUCKS FINAN NA                     | Daimler Trucks Finance North America LLC                   | CUSIP: 233853AK6<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |    725000 | PA      | $722027.36    | 0.82%             | 2024-04-05      | Floating      | 4.62%                 | No            |                  2 | On Loan: No      |
| EQT CORP                                    | EQT Corp                                                   | CUSIP: 26884LAP4<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |    130000 | PA      | $129764.73    | 0.15%             | 2025-10-01      | Fixed         | 5.68%                 | No            |                  2 | On Loan: No      |
| CANADIAN IMPERIAL BANK                      | Canadian Imperial Bank of Commerce                         | CUSIP: 13607RAE0<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |    300000 | PA      | $299884.37    | 0.34%             | 2023-09-13      | Floating      | 5.39%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables               | Exeter Automobile Receivables Trust 2019-3                 | CUSIP: 30167EAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2340000 | PA      | $2282362.69   | 2.58%             | 2026-08-17      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OZLM Ltd                                    | OZLM VIII Ltd                                              | CUSIP: 67107FBN6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    900000 | PA      | $868410.00    | 0.98%             | 2029-10-17      | Floating      | 5.73%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                        | Bank of America Corp                                       | CUSIP: 06051GHK8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1249430.56   | 1.41%             | 2024-07-23      | Floating      | 5.28%                 | No            |                  2 | On Loan: No      |
| MVW Owner Trust                             | MVW Owner Trust 2018-1                                     | CUSIP: 62848BAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    506676 | PA      | $492807.16    | 0.56%             | 2036-01-21      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Verizon Owner Trust                         | Verizon Owner Trust 2019-C                                 | CUSIP: 92348AAC9<br>LEI: 549300WANFF5OIMC3D47 | Long             | ABS-O            | CORP              | US        |    170000 | PA      | $169329.68    | 0.19%             | 2024-04-22      | Fixed         | 2.06%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2022-R04               | CUSIP: 20753YCK6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    329000 | PA      | $326000.43    | 0.37%             | 2042-03-25      | Floating      | 7.03%                 | No            |                  2 | On Loan: No      |
| AmeriCredit Automobile Receiva              | AmeriCredit Automobile Receivables Trust 2021-1            | CUSIP: 03063FAF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    390000 | PA      | $345949.09    | 0.39%             | 2026-12-18      | Fixed         | 1.21%                 | No            |                  2 | On Loan: No      |
| QORVO INC                                   | Qorvo Inc                                                  | CUSIP: 74739DAA2<br>LEI: 254900YAUJV2EUEVBR11 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $922635.14    | 1.04%             | 2024-12-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Drive Auto Receivables Trust                | Drive Auto Receivables Trust 2021-1                        | CUSIP: 262108AF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1100000 | PA      | $1035296.75   | 1.17%             | 2029-01-16      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| DUPONT DE NEMOURS INC                       | DuPont de Nemours Inc                                      | CUSIP: 26078JAH3<br>LEI: 5493004JF0SDFLM8GD76 | Long             | DBT              | CORP              | US        |    600000 | PA      | $599383.49    | 0.68%             | 2023-11-15      | Floating      | 5.72%                 | No            |                  2 | On Loan: No      |
| Dell Equipment Finance Trust                | Dell Equipment Finance Trust 2021-2                        | CUSIP: 24702VAL6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1430000 | PA      | $1343554.04   | 1.52%             | 2027-06-22      | Fixed         | 1.21%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | 2 YEAR US TREASURY NOTE                                    | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |      -155 | NC      | $-34351.26    | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| AmeriCredit Automobile Receiva              | AmeriCredit Automobile Receivables Trust 2020-1            | CUSIP: 03067DAG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $94881.83     | 0.11%             | 2025-12-18      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| GM Financial Securitized Term               | GM Financial Consumer Automobile Receivables Trust 2020-1  | CUSIP: 36258NAF9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     50000 | PA      | $48680.16     | 0.06%             | 2025-05-16      | Fixed         | 2.18%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust              | Carvana Auto Receivables Trust 2021-N3                     | CUSIP: 14687GAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1750000 | PA      | $1608790.09   | 1.82%             | 2028-06-12      | Fixed         | 1.58%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                         | JPMorgan Chase & Co                                        | CUSIP: 46647PAP1<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    250000 | PA      | $248394.62    | 0.28%             | 2024-04-23      | Fixed         | 3.56%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                     | Goldman Sachs Group Inc/The                                | CUSIP: 38141GXZ2<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    500000 | PA      | $494010.17    | 0.56%             | 2024-03-08      | Fixed         | 0.67%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                     | CarMax Auto Owner Trust 2020-2                             | CUSIP: 14315VAH5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    572000 | PA      | $560461.24    | 0.63%             | 2027-05-17      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables               | Exeter Automobile Receivables Trust 2019-1                 | CUSIP: 30167DAE7<br>LEI: 549300KR7NUJOX0UJ040 | Long             | ABS-O            | CORP              | US        |   1500000 | PA      | $1485945.86   | 1.68%             | 2026-01-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| GM Financial Securitized Term               | GM Financial Consumer Automobile Receivables Trust 2020-1  | CUSIP: 36258NAE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     60000 | PA      | $58430.10     | 0.07%             | 2025-04-16      | Fixed         | 2.03%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Commercial Mortgage Trust 2021-XL2                      | CUSIP: 05609KAG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    857211 | PA      | $806320.53    | 0.91%             | 2038-10-15      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                  | MFA 2020-NQM3 Trust                                        | CUSIP: 552757AC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    516318 | PA      | $455885.94    | 0.52%             | 2065-01-26      | Variable      | 1.63%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                     | Carmax Auto Owner Trust 2019-3                             | CUSIP: 14315PAH8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    705000 | PA      | $679675.03    | 0.77%             | 2026-01-15      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| SMRT                                        | SMRT 2022-MINI                                             | CUSIP: 78457JAL6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1394489.04   | 1.58%             | 2039-01-15      | Floating      | 6.29%                 | No            |                  2 | On Loan: No      |
| NXP BV/NXP FDG/NXP USA                      | NXP BV / NXP Funding LLC / NXP USA Inc                     | CUSIP: 62954HAW8<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    500000 | PA      | $470092.70    | 0.53%             | 2025-05-01      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                     | Carmax Auto Owner Trust 2019-1                             | CUSIP: 14315NAG5<br>LEI: 549300LQMUNTYT3DC014 | Long             | ABS-O            | CORP              | US        |    145000 | PA      | $144204.00    | 0.16%             | 2025-08-15      | Fixed         | 4.04%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                     | Carmax Auto Owner Trust 2021-1                             | CUSIP: 14316NAG4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    900000 | PA      | $744222.23    | 0.84%             | 2027-07-15      | Fixed         | 1.28%                 | No            |                  2 | On Loan: No      |
| Eagle Re Ltd                                | Eagle RE 2019-1 Ltd                                        | CUSIP: 269822AB8<br>LEI: 254900L82OLW9QTLJ788 | Long             | ABS-MBS          | CORP              | US        |   1503912 | PA      | $1472179.35   | 1.67%             | 2029-04-25      | Floating      | 6.19%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE &                            | JPMorgan Chase & Co                                        | CUSIP: 46647PCL8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    500000 | PA      | $489361.11    | 0.55%             | 2025-06-23      | Floating      | 4.88%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                    | Celanese US Holdings LLC                                   | CUSIP: 15089QAR5<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |    400000 | PA      | $399788.10    | 0.45%             | 2024-07-05      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                | Barclays PLC                                               | CUSIP: 06738EAE5<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    600000 | PA      | $575904.25    | 0.65%             | 2025-03-16      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| VIDEOTRON LTD                               | Videotron Ltd                                              | CUSIP: 92660FAG9<br>LEI: 549300LW4GNJRBECSD81 | Long             | DBT              | CORP              | CA        |    500000 | PA      | $496235.95    | 0.56%             | 2024-06-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                    | Lloyds Banking Group PLC                                   | CUSIP: 53944YAN3<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $392195.06    | 0.44%             | 2024-05-11      | Fixed         | 0.69%                 | No            |                  2 | On Loan: No      |
| GREAT AMERICA LEASING RECEIVAB              | GreatAmerica Leasing Receivables Funding LLC Series 2021-1 | CUSIP: 39154TBM9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1040000 | PA      | $913513.73    | 1.03%             | 2027-12-15      | Fixed         | 0.92%                 | No            |                  2 | On Loan: No      |
| HCA INC                                     | HCA Inc                                                    | CUSIP: 404119BR9<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   1150000 | PA      | $1148760.12   | 1.30%             | 2025-02-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                              | Morgan Stanley                                             | CUSIP: 61747YEQ4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    905000 | PA      | $882734.76    | 1.00%             | 2025-04-17      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                | Barclays PLC                                               | CUSIP: 06738EBZ7<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   1000000 | PA      | $993128.91    | 1.12%             | 2026-08-09      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust              | Carvana Auto Receivables Trust 2021-N1                     | CUSIP: 14687DAD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1189816 | PA      | $1144932.19   | 1.30%             | 2028-01-10      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                         | Freddie Mac STACR REMIC Trust 2022-DNA2                    | CUSIP: 35564KRF8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1380000 | PA      | $1341738.16   | 1.52%             | 2042-02-25      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                     | CarMax Auto Owner Trust 2020-3                             | CUSIP: 14315FAH0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $930391.73    | 1.05%             | 2027-01-15      | Fixed         | 2.53%                 | No            |                  2 | On Loan: No      |
| NOMURA HOLDINGS INC                         | Nomura Holdings Inc                                        | CUSIP: 65535HBE8<br>LEI: 549300B3CEAHYG7K8164 | Long             | DBT              | CORP              | JP        |    775000 | PA      | $767132.91    | 0.87%             | 2025-07-03      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| MICROCHIP TECHNOLOGY INC                    | Microchip Technology Inc                                   | CUSIP: 595017BB9<br>LEI: 5493007PTFULNYZJ1R12 | Long             | DBT              | CORP              | US        |   1025000 | PA      | $974479.77    | 1.10%             | 2024-02-15      | Fixed         | 0.97%                 | No            |                  2 | On Loan: No      |
| KYNDRYL HOLDINGS INC                        | Kyndryl Holdings Inc                                       | CUSIP: 50155QAJ9<br>LEI: 549300LQ4LWX2R8ZV130 | Long             | DBT              | CORP              | US        |    375000 | PA      | $310054.17    | 0.35%             | 2026-10-15      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                               | Citigroup Inc                                              | CUSIP: 172967MZ1<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $955303.08    | 1.08%             | 2027-06-09      | Floating      | 4.96%                 | No            |                  2 | On Loan: No      |
| WESTERN DIGITAL CORP                        | Western Digital Corp                                       | CUSIP: 958102AM7<br>LEI: 549300QQXOOYEF89IC56 | Long             | DBT              | CORP              | US        |    725000 | PA      | $682043.71    | 0.77%             | 2026-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables               | Exeter Automobile Receivables Trust 2022-5                 | CUSIP: 30167FAD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    700000 | PA      | $699680.91    | 0.79%             | 2027-03-15      | Fixed         | 5.97%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables               | Exeter Automobile Receivables Trust 2022-1                 | CUSIP: 30167JAF1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $919816.31    | 1.04%             | 2028-06-15      | Fixed         | 3.02%                 | No            |                  2 | On Loan: No      |
| SKYWORKS SOLUTIONS INC                      | Skyworks Solutions Inc                                     | CUSIP: 83088MAJ1<br>LEI: 549300WZ3ORQ2BVKBD96 | Long             | DBT              | CORP              | US        |    875000 | PA      | $857091.65    | 0.97%             | 2023-06-01      | Fixed         | 0.90%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Commercial Mortgage Trust 2022-CSMO                     | CUSIP: 05610MAD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1250000 | PA      | $1236176.09   | 1.40%             | 2027-06-15      | Floating      | 8.22%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                     | Carmax Auto Owner Trust 2019-4                             | CUSIP: 14315WAG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $96986.54     | 0.11%             | 2025-09-15      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE                            | Societe Generale SA                                        | CUSIP: 83368RBF8<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    750000 | PA      | $722105.09    | 0.82%             | 2026-01-21      | Floating      | 4.81%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                  | Verus Securitization Trust 2020-4                          | CUSIP: 92538LAD3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $251742.54    | 0.29%             | 2065-05-25      | Variable      | 3.29%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl              | Santander Drive Auto Receivables Trust 2019-1              | CUSIP: 80285HAG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     16145 | PA      | $16116.09     | 0.02%             | 2025-04-15      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                    | Warnermedia Holdings Inc                                   | CUSIP: 55903VAC7<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    575000 | PA      | $558073.35    | 0.63%             | 2024-03-15      | Fixed         | 3.43%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                           | HSBC Holdings PLC                                          | CUSIP: 404280CU1<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    250000 | PA      | $240979.81    | 0.27%             | 2024-08-17      | Fixed         | 0.73%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl              | Santander Drive Auto Receivables Trust 2019-3              | CUSIP: 80286HAG4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     78233 | PA      | $77600.10     | 0.09%             | 2025-10-15      | Fixed         | 2.68%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                     | Carmax Auto Owner Trust 2020-1                             | CUSIP: 14315XAF5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    125000 | PA      | $120236.59    | 0.14%             | 2025-11-17      | Fixed         | 2.34%                 | No            |                  2 | On Loan: No      |
| BRUNSWICK CORP                              | Brunswick Corp/DE                                          | CUSIP: 117043AS8<br>LEI: YM4O38W15AX4YLLQKU27 | Long             | DBT              | CORP              | US        |    525000 | PA      | $485126.29    | 0.55%             | 2024-08-18      | Fixed         | 0.85%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Trust 2022-IND                                          | CUSIP: 05609WAL7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1232334 | PA      | $1162677.62   | 1.32%             | 2037-04-15      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| Vista Point Securitization Tru              | Vista Point Securitization Trust 2020-2                    | CUSIP: 92838TAD3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    286000 | PA      | $234632.27    | 0.27%             | 2065-04-25      | Variable      | 3.40%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                           | HSBC Holdings PLC                                          | CUSIP: 404280BS7<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    350000 | PA      | $347002.99    | 0.39%             | 2024-05-18      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| FANNIE MAE                                  | Fannie Mae REMICS                                          | CUSIP: 31393CPD9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |       355 | PA      | $353.70       | 0.00%             | 2023-06-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SANTANDER UK GROUP HLDGS                    | Santander UK Group Holdings PLC                            | CUSIP: 80281LAH8<br>LEI: 549300F5XIFGNNW4CF72 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $500000.00    | 0.57%             | 2024-01-05      | Fixed         | 3.37%                 | No            |                  2 | On Loan: No      |
| AmeriCredit Automobile Receiva              | AmeriCredit Automobile Receivables Trust 2019-3            | CUSIP: 03066NAG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | PA      | $287771.20    | 0.33%             | 2025-09-18      | Fixed         | 2.58%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl              | Santander Drive Auto Receivables Trust 2021-3              | CUSIP: 80287EAF2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    625000 | PA      | $586156.97    | 0.66%             | 2027-09-15      | Fixed         | 1.33%                 | No            |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA                      | Santander Holdings USA Inc                                 | CUSIP: 80282KBD7<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |    680000 | PA      | $659003.45    | 0.75%             | 2025-06-09      | Fixed         | 4.26%                 | No            |                  2 | On Loan: No      |
| Drive Auto Receivables Trust                | Drive Auto Receivables Trust 2019-2                        | CUSIP: 26208RAG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    105150 | PA      | $104158.12    | 0.12%             | 2026-08-17      | Fixed         | 3.69%                 | No            |                  2 | On Loan: No      |
| Helios Issuer, LLC                          | SUNNOVA HELIOS II ISSUER LLC 2019-A                        | CUSIP: 86745LAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    896164 | PA      | $796484.39    | 0.90%             | 2046-06-20      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| JDE PEET'S NV                               | JDE Peet's NV                                              | CUSIP: 47216QAA1<br>LEI: 724500EHG519SE5ZRT89 | Long             | DBT              | CORP              | NL        |   1350000 | PA      | $1234360.46   | 1.40%             | 2024-09-24      | Fixed         | 0.80%                 | No            |                  2 | On Loan: No      |
| EMERA US FINANCE LP                         | Emera US Finance LP                                        | CUSIP: 29103DAS5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1115000 | PA      | $1043284.64   | 1.18%             | 2024-06-15      | Fixed         | 0.83%                 | No            |                  2 | On Loan: No      |
| US Government Money Market Fund             | US Government Money Market Fund                            | CUSIP: 74926P696<br>LEI: 549300RFDC5U7WLJKO50 | Long             | STIV             | RF                | US        |   1212315 | NS      | $1212315.03   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Auto Lease Trust                      | Tesla Auto Lease Trust 2021-B                              | CUSIP: 88161KAG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1300000 | PA      | $1190244.60   | 1.35%             | 2025-09-22      | Fixed         | 1.32%                 | No            |                  2 | On Loan: No      |
| Drive Auto Receivables Trust                | Drive Auto Receivables Trust 2020-2                        | CUSIP: 26208VAF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     84611 | PA      | $83937.01     | 0.10%             | 2026-08-17      | Fixed         | 2.28%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                       | Wells Fargo & Co                                           | CUSIP: 95000U2V4<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1170000 | PA      | $1084681.03   | 1.23%             | 2028-03-24      | Fixed         | 3.53%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                         | COMM 2014-CCRE15 Mortgage Trust                            | CUSIP: 12591RAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1402667.75   | 1.59%             | 2047-02-10      | Variable      | 4.67%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                          | Energy Transfer LP                                         | CUSIP: 29273RAS8<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    200000 | PA      | $199562.48    | 0.23%             | 2023-02-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| ATHENE GLOBAL FUNDING                       | Athene Global Funding                                      | CUSIP: 04685A3H2<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $971952.29    | 1.10%             | 2025-01-07      | Floating      | 4.35%                 | No            |                  2 | On Loan: No      |
| MVW Owner Trust                             | MVW 2021-2 LLC                                             | CUSIP: 55400KAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    809321 | PA      | $725723.33    | 0.82%             | 2039-05-20      | Fixed         | 1.83%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables               | Exeter Automobile Receivables Trust 2021-4                 | CUSIP: 30165JAF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1100000 | PA      | $1005798.90   | 1.14%             | 2028-01-17      | Fixed         | 1.96%                 | No            |                  2 | On Loan: No      |
| BELLEMEADE RE LT                            | Bellemeade Re 2019-2 Ltd                                   | CUSIP: 07877BAE0<br>LEI: 254900I4ZKD8IMM1O953 | Long             | ABS-MBS          | CORP              | BM        |   1442011 | PA      | $1431839.62   | 1.62%             | 2029-04-25      | Floating      | 6.39%                 | No            |                  2 | On Loan: No      |
| Drive Auto Receivables Trust                | Drive Auto Receivables Trust 2020-1                        | CUSIP: 26208QAF4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     14157 | PA      | $14132.55     | 0.02%             | 2026-03-16      | Fixed         | 2.36%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                           | CUSIP: 91282CDA6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1500000 | PA      | $1450781.25   | 1.64%             | 2023-09-30      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2021-R01               | CUSIP: 20754RAB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    535355 | PA      | $524242.90    | 0.59%             | 2041-10-25      | Floating      | 5.48%                 | No            |                  2 | On Loan: No      |
| Drive Auto Receivables Trust                | Drive Auto Receivables Trust 2019-4                        | CUSIP: 26209AAG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    230033 | PA      | $225897.22    | 0.26%             | 2027-02-16      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Vista Point Securitization Tru              | Vista Point Securitization Trust 2020-1                    | CUSIP: 92838WAD6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1381824.57   | 1.56%             | 2065-03-25      | Variable      | 4.15%                 | No            |                  2 | On Loan: No      |
| Tesla Auto Lease Trust                      | Tesla Auto Lease Trust 2021-A                              | CUSIP: 88161FAG1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    600000 | PA      | $567043.73    | 0.64%             | 2025-03-20      | Fixed         | 1.34%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                              | Morgan Stanley                                             | CUSIP: 61747YEG6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    475000 | PA      | $437061.05    | 0.49%             | 2025-10-21      | Fixed         | 1.16%                 | No            |                  2 | On Loan: No      |
| CONTINENTAL RESOURCES                       | Continental Resources Inc/OK                               | CUSIP: 212015AU5<br>LEI: XXRTID9RYWOZ0UPIVR53 | Long             | DBT              | CORP              | US        |   1325000 | PA      | $1149069.16   | 1.30%             | 2026-11-15      | Fixed         | 2.27%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                         | Charles Schwab Corp/The                                    | CUSIP: 808513BZ7<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |   1305000 | PA      | $1269183.02   | 1.44%             | 2027-03-03      | Floating      | 5.11%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                     | Goldman Sachs Group Inc/The                                | CUSIP: 38141GZJ6<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    750000 | PA      | $738137.03    | 0.84%             | 2025-01-24      | Floating      | 4.46%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage T              | Ellington Financial Mortgage Trust 2019-2                  | CUSIP: 31573TAD0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1273568.00   | 1.44%             | 2059-11-25      | Variable      | 3.47%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Fannie Mae Connecticut Avenue Securities                   | CUSIP: 20754KAA9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | CORP              | US        |    697686 | PA      | $678623.16    | 0.77%             | 2041-11-25      | Floating      | 4.83%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                    | Lloyds Banking Group PLC                                   | CUSIP: 53944YAT0<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |   1000000 | PA      | $976857.05    | 1.11%             | 2026-08-11      | Fixed         | 4.72%                 | No            |                  2 | On Loan: No      |
| CENTERPOINT ENERGY INC                      | CenterPoint Energy Inc                                     | CUSIP: 15189TAZ0<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $987780.70    | 1.12%             | 2024-05-13      | Floating      | 4.60%                 | No            |                  2 | On Loan: No      |
| Drive Auto Receivables Trust                | Drive Auto Receivables Trust 2021-2                        | CUSIP: 262104AF9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    775000 | PA      | $713595.45    | 0.81%             | 2029-03-15      | Fixed         | 1.39%                 | No            |                  2 | On Loan: No      |
| Drive Auto Receivables Trust                | Drive Auto Receivables Trust 2019-3                        | CUSIP: 26209WAG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    256419 | PA      | $253347.00    | 0.29%             | 2026-10-15      | Fixed         | 3.18%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                | UBS Group AG                                               | CUSIP: 902613AM0<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   1400000 | PA      | $1366179.22   | 1.55%             | 2026-05-12      | Fixed         | 4.49%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2022-R01               | CUSIP: 20754LAB5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    670000 | PA      | $626526.30    | 0.71%             | 2041-12-25      | Floating      | 5.83%                 | No            |                  2 | On Loan: No      |
| AmeriCredit Automobile Receiva              | AmeriCredit Automobile Receivables Trust 2020-3            | CUSIP: 03066PAF6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    234000 | PA      | $216941.63    | 0.25%             | 2026-09-18      | Fixed         | 1.49%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                        | FREMF 2016-K722 Mortgage Trust                             | CUSIP: 30295AAN8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1120000 | PA      | $1115035.06   | 1.26%             | 2049-07-25      | Variable      | 3.95%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                           | HSBC Holdings PLC                                          | CUSIP: 404280CS6<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    550000 | PA      | $508792.54    | 0.58%             | 2025-05-24      | Fixed         | 0.98%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                         | JPMorgan Chase & Co                                        | CUSIP: 48129AAA0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $997783.93    | 1.13%             | 2025-01-10      | Floating      | 4.76%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                      | General Motors Financial Co Inc                            | CUSIP: 37045XDQ6<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    865000 | PA      | $806344.61    | 0.91%             | 2027-02-26      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                           | HSBC Holdings PLC                                          | CUSIP: 404280DB2<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   1000000 | PA      | $981187.95    | 1.11%             | 2026-03-10      | Floating      | 5.51%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                    | Ford Motor Credit Co LLC                                   | CUSIP: 345397WW9<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    500000 | PA      | $477607.92    | 0.54%             | 2024-09-08      | Fixed         | 3.66%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                               | Citigroup Inc                                              | CUSIP: 172967NQ0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    250000 | PA      | $246181.22    | 0.28%             | 2025-05-24      | Fixed         | 4.14%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                     | Carmax Auto Owner Trust 2019-3                             | CUSIP: 14315PAG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | PA      | $293363.18    | 0.33%             | 2025-06-16      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| MITSUBISHI UFJ FIN GRP                      | Mitsubishi UFJ Financial Group Inc                         | CUSIP: 606822CQ5<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |   1335000 | PA      | $1326501.39   | 1.50%             | 2025-09-12      | Fixed         | 5.06%                 | No            |                  2 | On Loan: No      |
| AREIT CRE Trust                             | AREIT 2022-CRE6 Trust                                      | CUSIP: 04002VAE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | KY        |   1010000 | PA      | $952352.13    | 1.08%             | 2037-01-16      | Floating      | 5.68%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Commercial Mortgage Trust 2021-21M                      | CUSIP: 05609CAL1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    633260 | PA      | $582020.56    | 0.66%             | 2036-10-15      | Floating      | 5.74%                 | No            |                  2 | On Loan: No      |
| AmeriCredit Automobile Receiva              | Americredit Automobile Receivables Trust 2019-1            | CUSIP: 03066GAG4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    160000 | PA      | $157278.24    | 0.18%             | 2025-03-18      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                | Barclays PLC                                               | CUSIP: 06738EBQ7<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    250000 | PA      | $237996.40    | 0.27%             | 2024-12-10      | Fixed         | 1.01%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX 2022-MVRK Mortgage Trust                                | CUSIP: 05610JAW9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1200000 | PA      | $1130599.48   | 1.28%             | 2039-03-15      | Floating      | 7.19%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust              | Carvana Auto Receivables Trust 2021-N4                     | CUSIP: 14687HAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1399000 | PA      | $1255484.27   | 1.42%             | 2028-09-11      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                        | Bank of America Corp                                       | CUSIP: 06051GJY6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    650000 | PA      | $634054.29    | 0.72%             | 2024-06-14      | Fixed         | 0.52%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                    | Vistra Operations Co LLC                                   | CUSIP: 92840VAL6<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    690000 | PA      | $675358.65    | 0.76%             | 2025-05-13      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                            | Connecticut Avenue Securities Trust 2022-R03               | CUSIP: 20753XAB0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    750000 | PA      | $755700.66    | 0.86%             | 2042-03-25      | Floating      | 7.43%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                    | AerCap Ireland Capital DAC / AerCap Global Aviation Trust  | CUSIP: 00774MAK1<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   1000000 | PA      | $990465.06    | 1.12%             | 2024-01-16      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-22

**Name of Applicant:** RBC Funds Trust

**Signature:** Kathy Hegna

**Name of Signer:** Kathy Hegna

**Title:** Treasurer and Chief Financial Officer - RBC Funds, and Director of Mutual Fund Services | RBC Global Asset Management (U.S.) Inc.