investment abbreviations and definitions 1 PDF
Preview investment abbreviations and definitions 1
PNC Funds INVESTMENT ABBREVIATIONS AND DEFINITIONS August 31, 2017 (Unaudited) ADR—AmericanDepositaryReceipt AGM—AssuredGuarantyMunicipalCorporation AMBAC—AmericanMunicipalBondAssuranceCorporation BAN—BondAnticipationNote Cl—Class DN—DiscountNote ETF—Exchange-TradedFund ETM—EscrowedtoMaturity FCPRDLY—FederalReserveBankPrimeLoanRate FEDL01—U.S.FederalFundsEffectiveRate FHLMC—FederalHomeLoanMortgageCorporation FNMA—FederalNationalMortgageAssociation FRN—FloatingRateNote.TherateshownistherateineffectonAugust31,2017,andthedateshownisthefinalmaturitydate,notthenextresetorputdate.Theratefloats baseduponthepublishedreferencerateandspreaddisclosedintheScheduleofInvestments. GMTN—GlobalMulti-CurrencyNote GNMA—GovernmentNationalMortgageAssociation GO—GeneralObligation H15T1Y—U.S.TreasuryYieldCurveRateTNoteConstantMaturity1Year LLC—LimitedLiabilityCompany LP—LimitedPartnership MTN—MediumTermNote NATL-RE—NationalPublicFinanceGuaranteeCorporation PLC—PublicLimitedCompany PSF-GTD—PermanentSchoolFund-Guaranteed RB—RevenueBond REIT—RealEstateInvestmentTrust STRB—SpecialTaxRevenueBond UCITS—UndertakingsForCollectiveInvestmentInTransferableSecurities US0001M—ICELIBORUSD1Month US0003M—ICELIBORUSD3Month US0012M—ICELIBORUSD12Month USBMMY3M—U.S.Treasury3MonthBillMoneyMarketYield VRDN—VariableRateDemandNote.TherateshownistherateineffectonAugust31,2017,andthedateshownisthenextresetorputdate.Forsecuritiesbasedonapublished referencerateandspread,thereferencerateandspreadareindicatedintheirdescription.Certainvariableratedemandnotesarenotbasedonapublishedreferencerate andspreadbutaredeterminedbytheissueroragentandarebasedoncurrentmarketconditions.Thesesecuritiesdonotindicateareferencerateandspreadintheir description. SeeNotestoSchedulesofInvestments. 1 PNC Balanced Allocation Fund SCHEDULE OF INVESTMENTS August 31, 2017 (Unaudited) Number Value Number Value ofShares (000) ofShares (000) COMMONSTOCKS—33.0% ConsumerDiscretionary—4.1% CenterStateBanks 151 $ 4 AdtalemGlobalEducation 86 $ 3 CincinnatiFinancial 470 36 BorgWarner 730 34 CreditAcceptance*# 88 24 BrightHorizonsFamilySolutions* 89 7 Cullen 360 30 BurlingtonStores* 350 30 DiamondHillInvestmentGroup* 45 9 CampingWorldHoldings,ClA 307 11 EagleBancorp* 353 22 CavcoIndustries* 54 7 EmployersHoldings 169 7 ChurchillDowns 54 11 FBLFinancialGroup,ClA 53 4 Comcast,ClA 1,910 78 FirstBusey 187 5 Dana 231 6 FirstFinancialBancorp 214 5 DollarTree* 470 37 FirstMerchants 107 4 DormanProducts* 199 13 FirstMidwestBancorp 125 3 FoxFactoryHolding* 236 9 GuarantyBancorp 286 7 HomeDepot 970 145 HomeBancShares 554 13 InstalledBuildingProducts* 208 12 HuntingtonBancshares 5,190 65 LCIIndustries 205 20 InvescoMortgageCapitalREIT 379 7 LithiaMotors,ClA 227 25 JPMorganChase 1,618 147 MadisonSquareGarden,ClA* 74 16 KeyCorp 2,770 48 McDonald’s 790 126 LegacyTexasFinancialGroup 489 18 MohawkIndustries* 240 61 Mastercard,ClA 280 37 OmnicomGroup 410 30 MFAFinancialREIT 679 6 PapaJohn’sInternational 45 3 MorganStanley 1,880 86 PartyCityHoldco* 187 3 NationalGeneralHoldings 549 9 PinnacleEntertainment* 259 5 OldNationalBancorp 366 6 RedRockResorts,ClA 259 6 PRAGroup* 550 16 StandardMotorProducts 107 5 PrincipalFinancialGroup 1,260 79 TaylorMorrisonHome,ClA* 387 8 PrudentialFinancial 858 88 ThorIndustries 520 56 RLI 281 15 TollBrothers 1,210 47 S&PGlobal 350 54 WolverineWorldWide 133 4 SouthState 89 7 WyndhamWorldwide 440 44 SunTrustBanks 1,210 67 YumChinaHoldings* 930 33 T.RowePriceGroup 1,330 112 U.S.Bancorp 1,260 65 895 WellsFargo 809 41 ConsumerStaples—2.3% WSFSFinancial 107 5 AltriaGroup 1,710 108 1,323 CentralGarden&Pet,ClA* 89 3 ConstellationBrands,ClA 240 48 Healthcare—4.6% DrPepperSnappleGroup 280 25 AbbottLaboratories 1,830 93 GeneralMills 570 30 AbbVie 480 36 HRGGroup* 165 3 AgilentTechnologies 630 41 Kimberly-Clark 634 78 Amgen 680 121 PepsiCo 1,391 161 AMNHealthcareServices* 460 17 PinnacleFoods 720 43 BaxterInternational 550 34 SpartanNash 187 5 Biogen* 140 44 CantelMedical 107 9 504 Celgene* 260 36 Energy—0.6% ConcertPharmaceuticals* 304 5 ExxonMobil 1,105 84 CotivitiHoldings* 107 4 ParPacificHoldings* 219 4 Dyax* (A)Δ 677 1 PBFEnergy,ClA# 169 4 EdwardsLifesciences* 330 37 ValeroEnergy 600 41 Glaukos* 98 4 HealthSouth 107 5 133 ICUMedical* 18 3 INCResearchHoldings,ClA* 53 3 Financials—6.0% InovalonHoldings,ClA*# 268 4 AmeripriseFinancial 310 43 IronwoodPharmaceuticals* 393 6 AMERISAFE 166 9 Johnson&Johnson 917 121 AstoriaFinancial 169 3 MedidataSolutions* 71 5 BankofAmerica 3,580 86 Merck 1,261 81 BankoftheOzarks 519 22 NatusMedical* 98 3 Banner 62 3 Neogen* 341 23 CapitalBankFinancial,ClA 169 6 SeeNotestoSchedulesofInvestments. 2 Number Value Number Value ofShares (000) ofShares (000) COMMONSTOCKS—continued Healthcare—continued AnalogDevices 570 $ 48 NuVasive* 62 $ 4 AnixterInternational* 71 5 PAREXELInternational* 107 9 Apple 1,699 279 Pfizer 1,831 62 AppliedMaterials 950 43 PRAHealthSciences* 127 10 AspenTechnology* 44 3 ProvidenceService* 63 3 Box,ClA* 315 6 SareptaTherapeutics* 123 5 CACIInternational,ClA* 27 3 Stryker 230 33 CDW 870 55 SupernusPharmaceuticals* 176 8 CiscoSystems 2,942 95 ThermoFisherScientific 180 34 CognizantTechnologySolutions,ClA 590 42 U.S.PhysicalTherapy 80 5 CoreLogic* 118 5 UnitedHealthGroup 510 101 Entegris* 214 5 VandaPharmaceuticals* 437 8 Envestnet* 71 3 VoceraCommunications* 205 6 ePlus* 86 7 Facebook,ClA* 850 146 1,024 Intel 2,050 72 Industrials—4.3% Kulicke&SoffaIndustries* 266 5 3M 250 51 LamResearch 200 33 AlamoGroup 133 12 Littelfuse 36 7 AllisonTransmissionHoldings 1,390 48 MatchGroup*# 193 4 AmericanWoodmark* 31 3 Microsoft 1,672 125 BarnesGroup 104 6 MKSInstruments 59 5 Colfax* 145 6 Oracle 670 34 ComfortSystemsUSA 142 5 OSISystems* 167 14 CSX 620 31 Paychex 540 31 Cummins 220 35 Qualys* 80 4 Curtiss-Wright 53 5 RealPage* 179 8 DouglasDynamics 81 3 Sanmina* 196 7 DycomIndustries* 38 3 SiliconLaboratories* 57 4 EnerSys 342 22 Take-TwoInteractiveSoftware* 70 7 Exponent 222 15 TechData* 88 10 GeneralDynamics 460 93 TexasInstruments 1,670 138 Genesee&Wyoming,ClA* 73 5 TotalSystemServices 840 58 GPStrategies* 213 6 TylerTechnologies* 90 15 HEICO 334 29 Virtusa* 181 7 HoneywellInternational 810 112 WebMDHealth* 90 6 IllinoisToolWorks 530 73 WEX* 118 13 Insperity 175 14 1,486 JohnBeanTechnologies 140 12 KLX* 185 9 Materials—1.5% LockheedMartin 160 49 AirProducts&Chemicals 210 30 Moog,ClA* 107 8 Balchem 171 13 Multi-Color 58 5 BerryGlobalGroup* 1,011 57 NorthropGrumman 130 35 Cabot 49 3 OnAssignment* 329 16 DowChemical 1,680 112 Parker-Hannifin 300 48 InnophosHoldings 196 9 PatrickIndustries* 156 12 InternationalPaper 530 29 Raytheon 210 38 MineralsTechnologies 71 4 RBCBearings* 38 4 NeenahPaper 140 11 RegalBeloit 73 6 PolyOne 98 3 RockwellAutomation 280 46 Sherwin-Williams 140 47 SPPlus* 160 6 SilganHoldings 224 7 TriNetGroup* 142 5 325 UnitedTechnologies 280 34 UniversalForestProducts 149 13 RealEstate—1.1% WageWorks* 262 15 AgreeRealtyREIT 151 8 WilldanGroup* 108 3 CareTrustREIT 312 6 941 CorEnergyInfrastructureTrustREIT 128 4 ExtraSpaceStorageREIT 540 42 InformationTechnology—6.7% InfraREIT 205 5 Alphabet,ClA* 135 129 LamarAdvertising,ClAREIT 670 45 Alteryx,ClA*# 212 5 PotlatchREIT 169 8 SeeNotestoSchedulesofInvestments. 3 PNC Balanced Allocation Fund SCHEDULE OF INVESTMENTS August 31, 2017 (Unaudited) Number Value Number Value ofShares (000) ofShares (000) COMMONSTOCKS—continued InformationTechnology—0.6% RealEstate—continued Broadcom(Singapore) 230 $ 58 PrologisREIT 1,110 $ 70 EVERTEC(PuertoRico) 250 5 PSBusinessParksREIT 32 4 IchorHoldings(CaymanIslands)* 190 4 RE/MAXHoldings,ClA 111 7 Novanta(Canada)* 208 8 RealogyHoldings 174 6 OpenText(Canada) 76 3 SummitHotelPropertiesREIT 330 5 TEConnectivity(Switzerland) 770 61 WelltowerREIT 400 29 139 239 RealEstate—0.2% TelecommunicationServices—0.6% ColliersInternationalGroup(Canada) 215 11 AT&T 1,157 43 FirstService(Canada) 285 20 BoingoWireless* 259 5 31 T-MobileUSA* 520 34 VerizonCommunications 1,200 58 Utilities—0.0% PampaEnergiaSA,ADR(Argentina)* 76 5 140 TotalForeignCommonStocks Utilities—1.2% (Cost$630) 620 AmericanElectricPower 520 38 AmericanWaterWorks 600 49 EXCHANGE-TRADEDFUNDS—8.5% DTEEnergy 390 44 iSharesMSCIEAFEValueETF† 15,353 814 ElPasoElectric 89 5 SPDR®S&P500®ETFTrust 4,270 1,057 NextEraEnergy 358 54 NRGYield,ClC 215 4 SJWGroup 98 5 TotalExchange-TradedFunds SouthwestGasHoldings 55 4 (Cost$1,564) 1,871 WGLHoldings 34 3 MASTERLIMITEDPARTNERSHIPS—0.2% XcelEnergy 1,010 50 Energy—0.2% 256 AllianceResourcePartnersLP# 286 5 TotalCommonStocks CheniereEnergyPartnersLP 223 6 (Cost$5,281) 7,266 MagellanMidstreamPartnersLP 410 28 39 FOREIGNCOMMONSTOCKS—2.8% ConsumerDiscretionary—0.9% Financials—0.0% Carnival(Panama) 2,070 143 AresManagementLP 205 4 HelenofTroy(Bermuda)* 98 9 JD.com,ADR(CaymanIslands)* 1,120 47 TotalMasterLimitedPartnerships LibertyGlobalPLC,ClA(UnitedKingdom)* 187 5 (Cost$38) 43 204 MUTUALFUND—12.7% ConsumerStaples—0.0% PNCInternationalGrowthFund, AdecoagroSA(Luxembourg)* 348 4 ClassIShares† 209,401 2,800 FreshDelMonteProduce(CaymanIslands) 89 4 8 TotalMutualFund (Cost$2,146) 2,800 Energy—0.8% GasLog(Bermuda) 312 5 TOTALSA,ADR(France) 1,360 71 TransCanada(Canada) 1,742 88 164 Financials—0.1% ArgoGroupInternationalHoldings(Bermuda) 99 6 EssentGroup(Bermuda)* 107 4 IRFEuropeanFinance Investments(Bermuda)* (A)Δ 31,579 – OneBeaconInsuranceGroup,ClA(Bermuda) 151 3 13 Healthcare—0.0% ICONPLC(Ireland)* 27 3 Industrials—0.2% Ingersoll-RandPLC(Ireland) 620 53 SeeNotestoSchedulesofInvestments. 4 Par Value Par Value (000) (000) (000) (000) ASSET-BACKEDSECURITIES—3.0% ConsumerDiscretionary—0.2% Automotive—1.9% Hasbro BMWVehicleOwnerTrust, 6.300%,09/15/17 $30 $ 30 Series2016-A,ClA3 HiltonWorldwideFinanceLLC 1.160%,11/25/20 $115 $114 4.625%,04/01/25 15 16 FordCreditAutoLeaseTrust, 46 Series2016-A,ClA2A 1.420%,11/15/18 16 16 ConsumerServices—0.3% FordCreditAutoOwnerTrust, AvonProducts Series2016-A,ClA3 7.000%,03/15/23 25 22 1.390%,07/15/20 25 25 GrahamHoldings HondaAutoReceivablesOwnerTrust, 7.250%,02/01/19 20 21 Series2016-2,ClA3 Sotheby’s 1.390%,04/15/20 35 35 5.250%,10/01/22144A 25 26 HondaAutoReceivablesOwnerTrust, 69 Series2016-3,ClA4 1.330%,11/18/22 70 70 ConsumerStaples—0.4% HyundaiAutoReceivablesTrust, Kroger Series2017-A,ClA3 6.150%,01/15/20 40 44 1.760%,08/16/21 60 60 4.450%,02/01/47 10 9 NissanAutoReceivablesOwnerTrust, WhiteWaveFoods Series2017-B,ClA3 5.375%,10/01/22 30 34 1.750%,10/15/21 90 90 87 410 Energy—1.7% CreditCards—1.1% Andeavor BACreditCardTrust, 5.375%,10/01/22 25 26 Series2015-A2,ClA BoardwalkPipelinesLP 1.360%,09/15/20 100 100 3.375%,02/01/23 25 25 BACreditCardTrust, 5.950%,06/01/26 15 17 Series2017-A1,ClA1 BPCapitalMarketsPLC 1.950%,08/15/22 35 35 3.224%,04/14/24 45 46 CapitalOneMulti-AssetExecutionTrust, ConocoPhillips 6.500%,02/01/39 15 20 Series2016-A3,ClA3 EnergyTransferLP 1.340%,04/15/22 115 114 4.050%,03/15/25 25 25 249 6.125%,12/15/45 15 16 HollyFrontier TotalAsset-BackedSecurities 5.875%,04/01/26 35 38 (Cost$661) 659 KinderMorganEnergyPartnersLP(MTN) CORPORATEBONDS—16.1% 6.950%,01/15/38 25 30 Automotive—0.4% NewfieldExploration FordMotor 5.375%,01/01/26 15 16 4.346%,12/08/26 30 31 PetroleosMexicanos GeneralMotors 4.250%,01/15/25 25 25 6.600%,04/01/36 10 12 Phillips66 5.150%,04/01/38 5 5 4.650%,11/15/34 25 27 GeneralMotorsFinancial Rowan 3.200%,07/13/20 15 15 4.875%,06/01/22 40 36 GoodyearTire&Rubber ValeroEnergy 4.875%,03/15/27 15 15 3.400%,09/15/26 20 20 78 367 Cable—0.4% Financials—4.5% CBS AmericanExpress 4.600%,01/15/45 20 21 2.500%,08/01/22 25 25 CharterCommunicationsOperatingLLC BankofAmerica 6.384%,10/23/35 35 40 6.250%,09/29/49 (B) 25 28 ThomsonReuters BankofAmerica(GMTN) 1.650%,09/29/17 35 35 2.000%,01/11/18 45 45 BankofAmerica(MTN) 96 4.000%,04/01/24 25 27 SeeNotestoSchedulesofInvestments. 5 PNC Balanced Allocation Fund SCHEDULE OF INVESTMENTS August 31, 2017 (Unaudited) Par Value Par Value (000) (000) (000) (000) CORPORATEBONDS—continued Financials—continued AllerganFundingSCS 4.200%,08/26/24 $30 $ 32 3.450%,03/15/22 $25 $ 26 3.248%,10/21/27 10 10 Amgen BankUnited 2.650%,05/11/22 15 15 4.875%,11/17/25 20 21 4.400%,05/01/45 25 26 BearStearnsLLC HCA 7.250%,02/01/18 35 36 5.875%,03/15/22 25 28 CapitalOneFinancial Johnson&Johnson 2.500%,05/12/20 40 40 3.550%,03/01/36 35 36 Citigroup SelectMedical 2.150%,07/30/18 30 30 6.375%,06/01/21 10 10 4.450%,09/29/27 20 21 ShireAcquisitionsInvestmentsIrelandDAC 6.250%,12/29/49 (B) 25 28 1.900%,09/23/19 25 25 CreditSuisseAG(GMTN) TevaPharmaceuticalFinanceIIIBV 5.400%,01/14/20 35 38 2.800%,07/21/23 15 14 DeutscheBankAG 3.150%,10/01/26# 40 37 2.950%,08/20/20 30 30 253 4.250%,10/14/21 15 16 GoldmanSachsGroup Industrials—0.9% 2.350%,11/15/21 55 55 Ball HSBCHoldingsPLC 4.000%,11/15/23 20 20 5.100%,04/05/21 40 44 CintasNo2 JPMorganChase 4.300%,06/01/21 35 38 2.400%,06/07/21 45 45 CNHIndustrialNV 3.882%,07/24/38 (B) 35 35 4.500%,08/15/23 30 32 7.900%,12/29/49 (B) 25 26 GeneralElectric MorganStanley(GMTN) 4.125%,10/09/42 30 32 2.500%,04/21/21 45 45 KLX MorganStanley(MTN) 5.875%,12/01/22144A 25 26 2.625%,11/17/21 15 15 Owens-BrockwayGlassContainer 4.100%,05/22/23 20 21 6.375%,08/15/25144A 25 28 RoyalBankofCanada PulteGroup 2.100%,10/14/20 80 80 7.875%,06/15/32 25 29 RoyalBankofScotlandGroupPLC 205 6.000%,12/19/23 40 44 SantanderUKGroupHoldingsPLC(GMTN) InformationTechnology—0.1% 3.125%,01/08/21 35 36 VeriSign USBancorp 4.625%,05/01/23 25 26 5.300%,04/15/49 (B) 20 22 Visa Insurance—0.5% 4.150%,12/14/35 25 27 BerkshireHathawayFinance WellsFargo 4.250%,01/15/21 25 27 3.069%,01/24/23 15 15 MetLife 5.900%,12/29/49 (B) 25 27 6.400%,12/15/66 20 23 WestpacBanking TeachersInsurance&AnnuityAssociationofAmerica 2.250%,07/30/18 30 30 4.900%,09/15/44144A 25 28 XLIT 994 4.450%,03/31/25 35 37 Food,Beverage&Tobacco—0.5% 115 Anheuser-BuschInBevFinance 4.700%,02/01/36 50 56 Materials—0.4% ConstellationBrands CaterpillarFinancialServices(MTN) 3.875%,11/15/19 20 21 2.100%,01/10/20 25 25 6.000%,05/01/22 20 23 Freeport-McMoRan KraftHeinzFoods 6.875%,02/15/23 20 22 5.200%,07/15/45 15 16 HuntsmanInternationalLLC 4.875%,11/15/20 10 11 116 Sherwin-Williams Healthcare—1.2% 2.750%,06/01/22 25 25 AbbottLaboratories 83 3.750%,11/30/26 35 36 SeeNotestoSchedulesofInvestments. 6 Par Value Par Value (000) (000) (000) (000) CORPORATEBONDS—continued RealEstate—0.7% VerizonCommunications AmericanCampusCommunitiesOperating 4.500%,08/10/33 $ 60 $ 61 PartnershipLP 184 3.750%,04/15/23 $35 $ 36 CrownCastleInternational Transportation—0.3% 3.650%,09/01/27 25 25 ERACUSAFinanceLLC RealtyIncome 5.625%,03/15/42144A 25 29 5.375%,09/15/17 25 25 FedEx SpiritRealtyLP 3.900%,02/01/35 25 25 4.450%,09/15/26 45 46 Hertz VEREITOperatingPartnershipLP 7.625%,06/01/22144A 10 10 3.950%,08/15/27 25 25 64 157 Utilities—0.6% Retail—1.2% AlabamaPower Amazon.com 2.450%,03/30/22 30 30 4.250%,08/22/57144A 40 42 BerkshireHathawayEnergy CVSHealth 6.125%,04/01/36 20 26 3.500%,07/20/22 25 26 DominionEnergy Hanesbrands 1.400%,09/15/17 35 35 4.625%,05/15/24144A 25 26 NextEraEnergyCapitalHoldings PenskeAutomotiveGroup 2.056%,09/01/17 25 25 5.375%,12/01/24 25 25 NiSourceFinance PricelineGroup 3.490%,05/15/27 25 26 2.750%,03/15/23 10 10 142 3.600%,06/01/26 35 36 UnderArmour TotalCorporateBonds 3.250%,06/15/26 30 28 (Cost$3,434) 3,552 Wal-MartStores 5.625%,04/01/40 25 32 MUNICIPALBOND—0.2% WolverineWorldWide Texas—0.2% 5.000%,09/01/26144A 30 30 TexasTransportationCommission(RB)SeriesB 5.178%,04/01/30 45 54 255 Technology—1.0% TotalMunicipalBond ActivisionBlizzard (Cost$52) 54 2.300%,09/15/21 40 40 OTHERGOVERNMENTANDAGENCYOBLIGATION—0.1% Amphenol Mexico—0.1% 2.550%,01/30/19 30 30 MexicoGovernmentInternationalBond Apple 3.850%,05/04/43 35 36 (GMTN) Avnet 4.750%,03/08/44 20 21 4.625%,04/15/26 25 26 KLA-Tencor TotalOtherGovernmentandAgencyObligation 4.125%,11/01/21 45 48 (Cost$18) 21 Microsoft U.S.GOVERNMENTAGENCYMORTGAGE- 3.450%,08/08/36 35 35 BACKEDOBLIGATIONS—9.5% 215 FederalHomeLoanMortgageCorporation—0.9% 4.000%,10/01/43 92 98 Telecommunications—0.8% 4.000%,10/01/44 90 96 AT&T 4.450%,04/01/24 30 32 194 4.900%,08/14/37 20 20 4.750%,05/15/46 25 24 FederalNationalMortgageAssociation—7.7% 5.700%,03/01/57 15 16 5.500%,07/01/33 2 3 NokiaOYJ 5.500%,05/01/35 17 18 3.375%,06/12/22 10 10 5.000%,08/01/40 109 120 T-MobileUSA 4.500%,06/01/40 77 84 4.000%,04/15/22 20 21 4.500%,03/01/41 70 76 4.000%,03/01/26 19 20 4.000%,12/01/40 68 72 4.000%,01/01/41 85 91 SeeNotestoSchedulesofInvestments. 7 PNC Balanced Allocation Fund SCHEDULE OF INVESTMENTS August 31, 2017 (Unaudited) Par Value Number Value (000) (000) ofShares (000) U.S.GOVERNMENTAGENCYMORTGAGE- MONEYMARKETFUND—2.0% BACKEDOBLIGATIONS—continued PNCGovernmentMoneyMarketFund, FederalNationalMortgageAssociation—continued ClassIShares0.874%† (C) 440,113 $ 440 3.500%,01/01/26 $ 73 $ 76 3.500%,10/01/26 50 52 3.500%,11/01/29 48 50 TotalMoneyMarketFund 3.500%,03/01/41 80 83 (Cost$440) 440 3.500%,08/01/42 119 124 3.500%,02/01/43 94 98 TotalInvestmentsBeforeShort-TermInvestmentsPurchasedwith 3.500%,08/01/44 133 139 CollateralfromSecuritiesLoaned –99.8% 3.500%,07/01/46 75 78 (Cost$18,836) 21,991 3.000%,06/01/28 53 55 SHORT-TERMINVESTMENTSPURCHASEDWITH 3.000%,11/01/42 136 138 3.000%,04/01/43 99 100 COLLATERALFROMSECURITIESLOANED—0.3% 3.000%,05/01/43 127 129 AffiliatedMoneyMarketFund—0.3% 2.500%,11/01/27 98 100 PNCGovernmentMoneyMarketFund, 1,706 ClassIShares0.874%† (C) 72,779 73 GovernmentNationalMortgageAssociation—0.9% MoneyMarketFund—0.0% 4.000%,09/15/41 68 72 MorganStanleyInstitutionalLiquidityFunds 4.000%,10/20/43 38 40 GovernmentPortfolio, 3.500%,07/15/42 33 35 InstitutionalClass0.896% (C) 4,002 4 3.500%,12/20/42 45 48 TotalShort-TermInvestmentsPurchasedWithCollateralFrom 195 SecuritiesLoaned (Cost$77) 77 TotalU.S.GovernmentAgencyMortgage-BackedObligations (Cost$2,055) 2,095 TOTALINVESTMENTS—100.1% U.S.TREASURYOBLIGATIONS—11.7% (Cost$18,913)** 22,068 U.S.TreasuryBonds—3.0% OtherAssets&Liabilities –(0.1)% (23) 4.500%,02/15/36 175 230 3.750%,08/15/41 225 270 TOTALNETASSETS—100.0% $22,045 2.500%,02/15/45 175 167 667 * Non-incomeproducingsecurity. ** AggregatecostforFederalincometaxpurposesis(000)$18,982. U.S.TreasuryInflationIndexedBond—0.7% Grossunrealizedappreciation(000) $3,290 0.125%,07/15/24 144 144 Grossunrealizeddepreciation(000) (204) 144 Netunrealizedappreciation(000) $3,086 U.S.TreasuryNotes—8.0% † AffiliatedHolding.SeeNote3inNotestoSchedulesofInvestments. 2.500%,08/15/23 10 10 # Securityfullyorpartiallyonloan.TotalValueofSecuritiesonLoanis$75(000). 2.375%,08/15/24 20 21 (A) IlliquidSecurity.Totalvalueofilliquidsecuritiesis$1(000)andrepresents 2.250%,11/15/25 200 203 lessthan0.1%ofnetassetsasofAugust31,2017. 2.125%,09/30/21 285 291 (B) Fixedtofloatingrateinvestment.Therateshownisthefixedrate,whichisthe rateineffectonAugust31,2017,andthedateshownisthefinalmaturity 2.000%,02/28/21 300 305 date,nottheresetdate. 1.750%,10/31/20 290 292 (C) Theratequotedistheannualizedseven-dayeffectiveyieldofthefundatperiod 1.750%,03/31/22 90 90 end. 1.625%,12/31/19 145 146 144A SecurityexemptfromregistrationunderRule144AoftheSecuritiesActof 1.625%,08/15/22 330 329 1933.Thesesecuritiesmayberesoldintransactionsexemptfromregistra- 1.625%,05/15/26 70 67 tion,normallytoqualifiedinstitutionalbuyers.TotalvalueofRule144A 1.500%,12/31/18 5 5 securitiesis$245(000)andrepresents1.1%ofnetassetsasofAugust31, 2017. 1,759 Δ Thevalueofthissecuritywasdeterminedusingsignificantunobservableinputs andisreportedasaLevel3securityintheValuationHierarchytablelocatedat TotalU.S.TreasuryObligations theendoftheScheduleofInvestments. (Cost$2,517) 2,570 SeeNotestoSchedulesofInvestments. 8 ValuationHierarchy: AsummaryofinputsusedtovaluetheFund’sinvestmentsasofAugust31,2017isasfollows(SeeNote2inNotestoSchedulesofInvestments). Level2 Level3 Level1 OtherSignificant Significant Total QuotedPrices ObservableInputs UnobservableInputs Value (000) (000) (000) (000) Assets: Asset-BackedSecurities $ – $ 659 $ – $ 659 CommonStocks 7,265 – 1 7,266 CorporateBonds – 3,552 – 3,552 Exchange-TradedFunds 1,871 – – 1,871 ForeignCommonStocks: Argentina 5 – – 5 Bermuda 27 – – 27 Canada 130 – – 130 CaymanIslands 55 – – 55 France 71 – – 71 Ireland 56 – – 56 Luxembourg 4 – – 4 Panama 143 – – 143 PuertoRico 5 – – 5 Singapore 58 – – 58 Switzerland 61 – – 61 UnitedKingdom 5 – – 5 MasterLimitedPartnerships 43 – – 43 MoneyMarketFund 440 – – 440 MunicipalBond – 54 – 54 MutualFund 2,800 – – 2,800 OtherGovernmentandAgencyObliga- tion – 21 – 21 Short-TermInvestmentsPurchased withCollateralFromSecurities Loaned 77 – – 77 U.S.GovernmentAgency Mortgage- BackedObligations – 2,095 – 2,095 U.S.TreasuryObligations – 2,570 – 2,570 TotalAssets-InvestmentsinSecuri- ties $ 13,116 $ 8,951 $ 1 $ 22,068 TherewerenotransfersbetweenLevelsduringthethree-monthperiodendedAugust31,2017. SeeNotestoSchedulesofInvestments. 9 PNC Emerging Markets Equity Fund SCHEDULE OF INVESTMENTS August 31, 2017 (Unaudited) Number Value Number Value ofShares (000) ofShares (000) FOREIGNCOMMONSTOCKS—94.9% InformationTechnology—34.4% ConsumerDiscretionary—11.5% AlibabaGroupHolding,ADR(China)* 4,017 $ 690 AmRestHoldingsSE(Poland)* 562 $ 56 ChinasoftInternational(China)* 219,392 117 ArcelikAS(Turkey) 12,026 84 DeltaElectronics(Taiwan) 12,198 67 CCCSA(Poland) 1,304 96 LarganPrecision(Taiwan) 831 161 CVCBrasilOperadoraeAgen- Mail.RuGroup,GDR(Russia)* 4,500 133 ciadeViagensSA(Brazil) 5,500 66 MercadoLibre(Argentina) 509 132 GourmetMaster(Taiwan) 15,400 183 MyEGServicesBhd(Malaysia) 296,900 148 HotaIndustrialManufacturing(Taiwan) 43,212 203 NAVER(SouthKorea) 135 91 LoenEntertainment(SouthKorea) 1,892 135 NCSoft(SouthKorea) 389 133 Mando(SouthKorea) 637 136 SamsungElectronics(SouthKorea) 255 525 Naspers,ClN(SouthAfrica) 545 123 SamsungSDI(SouthKorea) 1,458 255 NokianRenkaatOYJ(Finland) 4,687 198 Silergy(Taiwan) 7,000 156 TALEducationGroup,ADR(China)* 5,031 153 TaiwanSemiconductorManufacturing(Taiwan) 61,147 440 1,433 TencentHoldings(China) 18,504 779 Weibo,ADR(China)* 2,872 290 ConsumerStaples—3.7% YandexNV,ClA(Russia)* 5,510 165 BIMBirlesikMagazalarAS(Turkey) 7,582 168 4,282 JeronimoMartinsSGPSSA(Portugal) 5,156 103 MDiasBrancoSA(Brazil) 8,610 134 Materials—3.5% VietnamDairyProductsJSC(Vietnam) 8,290 54 CahyaMataSarawakBhd(Malaysia) 50,200 48 459 RandgoldResources,ADR(Jersey) 1,230 126 SKMaterials(SouthKorea) 502 81 Energy—0.6% Vedanta,ADR(India) 9,017 177 TenarisSA,ADR(Argentina) 2,974 79 432 Financials—16.5% RealEstate—4.3% AIAGroup(China) 24,400 188 AyalaLand(Philippines) 147,400 121 BankCentralAsiaTbkPT(Indonesia) 79,700 113 CentralPattanaPCL(Thailand) 92,385 200 BGEOGroupPLC(Georgia) 2,097 94 EmaarPropertiesPJSC(UnitedArabEmirates) 56,133 130 CapitecBankHoldings(SouthAfrica) 1,239 86 YanlordLandGroup(Singapore) 70,100 90 ChinaMerchantsBank,ClH(China) 63,261 239 EquityGroupHoldings(Kenya) 164,700 70 541 ErsteGroupBankAG(Austria)* 5,318 225 GrupoSupervielleSA,ADR(Argentina) 6,237 127 TelecommunicationServices—3.2% HDFCBank,ADR(India) 2,466 240 Safaricom(Kenya) 553,500 137 OTPBankPLC(Hungary) 6,801 277 TelekomunikasiIndonesia PingAnInsuranceGroupofChina,ClH(China) 26,366 210 PerseroTbkPT,ADR(Indonesia) 3,247 115 SrisawadPCL(Thailand) 122,996 190 TurkcellIletisimHizmetleriAS,ADR(Turkey) 15,311 145 2,059 397 Healthcare—10.3% TotalForeignCommonStocks CSPCPharmaceuticalGroup(China) 76,000 119 (Cost$9,536) 11,824 HypermarcasSA(Brazil) 16,859 157 EXCHANGE-TRADEDFUND—1.1% Medy-Tox(SouthKorea) 452 228 iSharesMSCIThailandCappedETF†# 1,593 132 NMCHealthPLC(UnitedArabEmirates) 6,598 233 RichterGedeonNyrt(Hungary) 9,699 253 SamsungBiologics(SouthKorea)*144A 673 170 TotalExchange-TradedFund SinoBiopharmaceutical(China) 145,000 127 (Cost$125) 132 1,287 Industrials—6.9% AirportsofThailandPCL(Thailand) 85,200 140 AirtacInternationalGroup(Taiwan) 14,626 204 AselsanElektronikSanayiVeTicaretAS(Turkey) 31,306 245 BlueBirdTbkPT(Indonesia) 157,604 56 MalaysiaAirportsHoldingsBhd(Malaysia) 40,800 86 PembangunanPerumahanPer- seroTbkPT(Indonesia) 235,171 50 WizzAirHoldingsPLC(Hungary)*144A 1,947 74 855 SeeNotestoSchedulesofInvestments. 10
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