# EDGAR Filing Document

**Accession Number:** 0000889284
**File Stem:** 0001752724-23-046751
**Filing Date:** 2023-2
**Character Count:** 41429
**Document Hash:** 2059714251703088fc65910d835afbe7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-046751.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001752724-23-046751

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221230

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230228

**PERIOD START**: 20230930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** STERLING CAPITAL FUNDS
- **CENTRAL INDEX KEY:** 0000889284
- **IRS NUMBER:** 043331055
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06719
- **FILM NUMBER:** 23682999

**BUSINESS ADDRESS:**
- **STREET 1:** 3605 GLENWOOD AVENUE
- **STREET 2:** SUITE 100
- **CITY:** RALEIGH
- **STATE:** NC
- **ZIP:** 27612
- **BUSINESS PHONE:** 8002281872

**MAIL ADDRESS:**
- **STREET 1:** 3605 GLENWOOD AVENUE
- **STREET 2:** SUITE 100
- **CITY:** RALEIGH
- **STATE:** NC
- **ZIP:** 27612

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BB&T FUNDS /
- **DATE OF NAME CHANGE:** 20010419

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BB&T MUTUAL FUNDS GROUP
- **DATE OF NAME CHANGE:** 19920929

## Series and Classes Contracts Data

### STERLING CAPITAL VIRGINIA INTERMEDIATE TAX-FREE FUND (Series ID: S000003551)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000009871 | INSTITUTIONAL CLASS | BVATX           |
| C000009872 | A CLASS             | BVAAX           |
| C000112498 | C Shares            | BVACX           |

## Nport-Ex

Sterling

Capital

Virginia

Intermediate

Tax-Free

Fund

Schedule

of

Portfolio

Investments

December

31,

2022

(Unaudited)

See

accompanying

Notes

to

the

Schedule

of

Portfolio

Investments.

Principal

Amount

Fair

Value

MUNICIPAL

BONDS

—

97.6%

District

of

Columbia

—

2.3%

$

1,640,000

Washington

Metropolitan

Area

Transit

Authority,

DC,

Transit

Improvements

Revenue,

Callable

7/1/27

@

100,

5.000%,

7/1/36

..................

$

1,743,139

Virginia

—

95.3%

1,240,000

Albemarle

County,

VA,

Economic

Development

Authority,

Public

Improvements

Revenue,

5.000%,

6/1/27

1,359,437

1,365,000

Albemarle

County,

VA,

School

Improvements

G.O.,

(State

Aid

Withholding),

5.000%,

6/1/26

.......

1,473,354

1,475,000

Arlington

County,

VA,

Public

Improvements

G.O.,

Callable

8/15/27

@

100,

5.000%,

8/15/30

.............

1,624,742

1,500,000

Arlington

County,

VA,

Public

Improvements

G.O.,

Series

A,

Callable

8/15/27

@

100,

5.000%,

8/15/29(a)

...

1,652,715

1,580,000

Arlington

County,

VA,

School

Improvements

G.O.,

Callable

6/15/31

@

100,

5.000%,

6/15/39

.............

1,780,787

1,030,000

Charlottesville,

VA,

Public

Improvements

G.O.,

Callable

6/15/31

@

(State

Aid

Withholding),

5.000%,

6/15/33

......

1,198,415

1,770,000

Chesapeake,

VA,

Public

Improvements,

Refunding

G.O.,

Series

A,

Callable

8/1/27

@

100,

5.000%,

8/1/30

.......

1,945,885

1,085,000

Chesapeake

Bay

Bridge

&

Tunnel

District,

First

Tier

General

Resolution,

Highway

Improvements,

Revenue

Bonds,

Callable

7/1/26

@

(AGM),

5.000%,

7/1/41

.

1,107,904

1,000,000

Chesterfield

County,

VA,

School

District,

School

Public

Improvement,

G.O.,

Series

A,

Callable

1/1/28

@

(State

Aid

Withholding),

4.000%,

1/1/31

.......

1,063,720

2,000,000

Commonwealth

of

Virginia,

University

&

College

Improvements

G.O.,

Series

A,

4.000%,

6/1/26

..................

2,087,880

1,145,000

Culpeper

County,

VA,

Economic

Development

Authority,

VA

Capital

Projects,

Refunding

Revenue,

Callable

6/1/24

@

100,

4.000%,

6/1/26

.......

1,165,473

2,000,000

Fairfax

County,

VA,

School

District,

School

Public

Improvements

G.O.,

Series

A,

Callable

4/1/29

@

(State

Aid

Withholding),

5.000%,

10/1/31

......

2,277,420

1,145,000

Fairfax

County,

VA,

School

Improvements

G.O.,

Current

Refunding,

Series

A,

Callable

4/1/30

@

(State

Aid

Withholding),

5.000%,

10/1/30

......

1,327,902

1,940,000

Fairfax

County,

VA,

School

Improvements

G.O.,

Series

A

(State

Aid

Withholding),

5.000%,

10/1/27

.................

2,152,682

Principal

Amount

Fair

Value

MUNICIPAL

BONDS

—

(continued)

Virginia

—

(continued)

$

1,000,000

Fredericksburg

Economic

Development

Authority,

Mary

Washington

Healthcare

Obligation

Group,

Refunding

Revenue,

Callable

6/15/24

@

100,

5.000%,

6/15/26

.......................

$

1,027,630

1,545,000

Harrisonburg,

VA,

School

Improvements

G.O.,

Current

Refunding,

Series

A

(State

Aid

Withholding),

5.000%,

7/15/30

...

1,776,936

1,000,000

Leesburg,

VA,

Refunding

G.O.,

Callable

1/15/25

@

(State

Aid

Withholding),

5.000%,

1/15/27

.................

1,044,730

1,000,000

Loudoun

County,

VA,

Economic

Development

Authority,

Public

Improvements

Revenue,

Callable

12/1/24

@

100,

5.000%,

12/1/27

...........

1,040,070

2,000,000

Loudoun

County,

VA,

Miscellaneous

Purposes

Revenue

G.O.,

Series

A

(State

Aid

Withholding),

5.000%,

12/1/29

...

2,301,240

1,250,000

Loudoun

County,

VA,

Public

Improvements,

Advance

Refunding

G.O.,

Series

A,

Callable

12/1/25

@

100,

5.000%,

12/1/26

.................

1,334,700

1,320,000

Loudoun

County

Economic

Development

Authority,

Loudoun

County

Public

Improvements

Projects,

Revenue

Bonds,

Series

A,

Callable

12/1/31

@

100,

5.000%,

12/1/36

.................

1,497,764

1,810,000

Manassas,

VA,

Public

Improvements,

Public

Facilities

G.O.,

Callable

7/1/29

@

(State

Aid

Withholding),

4.000%,

7/1/33

........................

1,924,392

1,530,000

Newport

News,

Public

Improvements

G.O.,

Series

A

(State

Aid

Withholding),

5.000%,

2/1/29

..................

1,739,090

1,500,000

Newport

News,

VA,

Public

Improvements,

G.O.,

Series

A

(State

Aid

Withholding),

5.000%,

2/1/29

..................

1,704,990

1,025,000

Norfolk,

VA,

Public

Improvements

G.O.,

Series

A,

Callable

3/1/31

@

100,

5.000%,

3/1/34

..................

1,188,395

1,465,000

Norfolk,

VA,

Public

Improvements,

G.O.,

Callable

8/1/28

@

(State

Aid

Withholding),

5.000%,

8/1/47

.......

1,645,166

2,000,000

Norfolk,

VA,

Public

Improvements,

G.O.,

Series

A,

Callable

10/1/26

@

100,

5.000%,

10/1/30(a)

...............

2,170,400

1,375,000

Rappahannock

Regional

Jail

Authority,

Refunding

Revenue,

Callable

10/1/25

@

100,

5.000%,

10/1/26

.............

1,456,166

2,000,000

Richmond,

VA,

Public

Improvements,

Refunding

G.O.,

Series

A,

Callable

3/1/24

@

(State

Aid

Withholding),

5.000%,

3/1/28(a)

................

2,049,700

Sterling

Capital

Virginia

Intermediate

Tax-Free

Fund

Schedule

of

Portfolio

Investments

—

(continued)

December

31,

2022

(Unaudited)

Continued

Principal

Amount

Fair

Value

MUNICIPAL

BONDS

—

(continued)

Virginia

—

(continued)

$

1,295,000

Richmond,

VA,

Public

Utility

Advance

Refunding

Revenue

Bonds,

Callable

1/15/26

@

100,

5.000%,

1/15/27

.....

$

1,384,200

1,265,000

Roanoke,

VA,

School

Improvements

G.O.,

Callable

4/1/32

@

(State

Aid

Withholding),

5.000%,

4/1/34

.......

1,474,484

1,380,000

Salem,

VA,

School

Improvements

G.O.,

Current

Refunding,

5.000%,

5/1/28

...

1,531,786

1,200,000

Southampton

County

Industrial

Development

Authority,

Current

Refunding

Revenue

Bonds,

Southampton

County

Capital,

5.000%,

12/1/28

.....

1,338,264

1,265,000

Virginia

Beach,

VA,

Advance

Refunding,

G.O.,

Series

B,

Callable

9/15/25

@

(State

Aid

Withholding),

5.000%,

9/15/26

.......................

1,344,176

2,295,000

Virginia

Beach,

VA,

Storm

Water

Utility

Revenue,

Public

Improvements

Revenue

Bonds,

Series

A,

Callable

11/15/30

@

100,

5.000%,

11/15/31

............

2,667,731

1,950,000

Virginia

College

Building

Authority,

21st

Century

College

Programs,

University

&

College

Improvements

Revenue,

Callable

2/1/27

@

100,

5.000%,

2/1/31

.......

2,112,299

1,000,000

Virginia

College

Building

Authority,

University

&

College

Improvements,

Revenue

Bonds,

Series

C,

5.000%,

9/1/29

........................

1,140,500

1,500,000

Virginia

Commonwealth

Transportation

Board,

Capital

Projects,

Highway

Improvements,

Revenue

Bonds,

Callable

5/15/29

@

100,

5.000%,

5/15/30

.....

1,705,515

1,215,000

Virginia

Commonwealth

Transportation

Board,

Federal

Highway

Transportation

Grant,

Callable

9/15/26

@

100,

5.000%,

9/15/30

.......................

1,309,794

2,000,000

Virginia

Commonwealth

Transportation

Board,

Federal

Transportation

Grant,

Anticipation

Advance

Refunding

Revenue,

Callable

9/15/27

@

100,

5.000%,

9/15/31

.................

2,204,600

1,515,000

Virginia

Public

School

Authority,

Advance

Refunding

Revenue,

Callable

8/1/25

@

100,

5.000%,

8/1/26

..............

1,603,006

2,000,000

Virginia

Public

School

Authority,

School

Improvements

Revenue

Bonds

(State

Aid

Withholding),

5.000%,

1/15/30

......

2,310,180

1,035,000

Virginia

Public

School

Authority,

School

Improvements

Revenue

Bonds

(State

Aid

Withholding),

5.000%,

8/15/30

......

1,204,988

1,000,000

Virginia

Public

School

Authority,

School

Improvements,

Revenue

Bonds,

Series

A,

Callable

8/1/29

@

100,

4.000%,

8/1/32

.

1,059,790

Principal

Amount

Fair

Value

MUNICIPAL

BONDS

—

(continued)

Virginia

—

(continued)

$

920,000

Winchester,

VA,

Economic

Development

Authority,

Valley

Health

System

Obligated

Group,

Hospital

Refunding

Revenue,

Series

A,

Callable

1/1/24

@

100,

5.000%,

1/1/26

..............

$

938,483

71,449,481

Total

Municipal

Bonds

(Cost

$73,892,475)

...............

73,192,620

Shares

MONEY

MARKET

FUND

—

1.3%

943,657

Federated

Treasury

Obligations

Fund,

Institutional

Shares,

4.14%(b)

.......

943,657

Total

Money

Market

Fund

(Cost

$943,657)

.................

943,657

Total

Investments

—

98.9%

(Cost

$74,836,132)

............................

74,136,277

Net

Other

Assets

(Liabilities)

—

1.1%

...............

794,623

NET

ASSETS

—

100.0%

.......................

$

74,930,900

(a) All

or

a

portion

of

the

securities

are

held

in

a

separate

collateral

account

at

US

Bank.

(b) Represents

the

current

yield

as

of

report

date.

AGM

Assured

Guaranty

Municipal

Corp.

G.O.

General

Obligation

Sterling

Capital

Funds

Notes

to

Schedule

of

Portfolio

Investments

-

Sterling

Capital

Virginia

Intermediate

Tax-Free

Fund

December

31,

2022

(Unaudited)

1. Organization:

Sterling

Capital

Funds

(the

"Trust")

commenced

operations

on

October

5,

1992

and

is

registered

under

the

Investment

Company

Act

of

1940,

as

amended

("the

1940

Act"),

as

an

open-end

investment

company

established

as

a

Massachusetts

business

trust.

The

Trust

offers

shares

of

Sterling

Capital

Virginia

Intermediate

Tax-Free

Fund

(referred

to

as

a

"Fund").

The

Fund

is

a

"non-diversified"

fund,

as

defined

in

the

1940

Act,

which

means

it

may

invest

in

the

securities

of

a

limited

number

of

issuers.

2. Significant

Accounting

Policies:

The

Fund

is

an

investment

company

and

accordingly

follows

the

investment

company

accounting

and

reporting

guidance

of

the

Financial

Accounting

Standards

Board

("FASB")

Accounting

Standard

Codification

Topic

946

Financial

Services-

Investment

Companies.

The

following

is

a

summary

of

significant

accounting

policies

followed

by

the

Fund.

The

policies

are

in

conformity

with

United

States

generally

accepted

accounting

principles

("U.S.

GAAP").

The

preparation

of

this

schedule

requires

management

to

make

estimates

and

assumptions

that

affect

the

reported

amounts

of

assets

and

liabilities

and

disclosure

of

contingent

assets

and

liabilities

at

the

date

of

the

schedule

and

the

reported

amount

of

income

and

expense

for

the

reporting

period.

Actual

result

could

differ

from

those

estimates.

Securities

Valuation

—

Investments

of

the

Fund

in

securities

traded

on

a

national

securities

exchange

or

in

the

over-the-

counter

market

are

valued

at

the

closing

price

on

the

principal

exchange

or

market

(including

the

NASDAQ

Closing

Price

for

securities

traded

on

NASDAQ),

typically

4:00

PM

ET

or,

absent

such

a

price,

by

reference

to

the

latest

available

bid

prices

in

the

principal

market

in

which

such

securities

are

normally

traded.

The

Fund

may

also

use

an

independent

pricing

service

approved

by

the

Board

of

Trustees

(the

"Board")

to

value

certain

securities,

including

the

use

of

electronic

and

matrix

techniques.

Investments

in

open-end

investment

companies

are

valued

at

their

respective

net

asset

values

as

reported

by

such

companies.

Investments

in

closed-end

investment

companies

and

exchange-traded

funds

are

valued

at

their

market

values

based

upon

the

latest

available

sale

price

or,

absent

such

a

price,

by

reference

to

the

latest

available

bid

prices

in

the

principal

market

in

which

such

securities

are

normally

traded.

The

differences

between

cost

and

fair

value

of

investments

are

reflected

as

either

unrealized

appreciation

or

depreciation.

Securities

for

which

market

quotations

are

not

readily

available

or

deemed

unreliable

(e.g.,

an

approved

pricing

service

does

not

provide

a

price,

a

furnished

price

is

in

error,

certain

stale

prices,

or

an

event

occurs

that

materially

affects

the

furnished

price)

will

be

fair

valued

in

accordance

with

procedures

established

in

good

faith

under

the

general

supervision

of

the

Board.

Fair

Value

Measurements

—

The

objective

of

a

fair

value

measurement

is

to

determine

the

price

that

would

be

received

to

sell

an

asset

or

paid

to

transfer

a

liability

in

an

orderly

transaction

between

market

participants

at

the

measurement

date

(an

exit

price).

Accordingly,

the

fair

value

hierarchy

gives

the

highest

priority

to

quoted

prices

(unadjusted)

in

active

markets

for

identical

assets

or

liabilities

(Level

1)

and

the

lowest

priority

to

unobservable

inputs

(Level

3).

The

three

levels

of

the

fair

value

hierarchy

are

described

as

follows:

Level

–

quoted

prices

in

active

markets

for

identical

securities

Level

–

based

on

other

significant

observable

inputs

(including

quoted

prices

for

similar

securities,

interest

rates,

prepayment

speeds,

credit

risk,

etc.)

Level

–

based

on

significant

unobservable

inputs

(including

a

Fund's

own

assumptions

in

determining

the

fair

value

of

investments)

The

inputs

or

methodology

used

for

valuing

securities

are

not

necessarily

an

indication

of

the

risk

associated

with

investing

in

those

securities.

During

the

period

ended

December

31,

2022

,

there

were

no

significant

changes

to

the

valuation

policies

and

procedures.

Sterling

Capital

Funds

Notes

to

Schedule

of

Portfolio

Investments

-

Sterling

Capital

Virginia

Intermediate

Tax-Free

Fund

—

(continued)

December

31,

2022

(Unaudited)

The

summary

of

inputs

used

to

determine

the

fair

value

of

the

Fund's

investments

as

of

December

31,

2022

is

as

follows:

Cash

and

Cash

Equivalents

—

The

Fund

considers

liquid

assets

deposited

with

a

bank,

and

certain

short

term

debt

instruments

with

original

maturities

of

three

months

or

less

to

be

cash

equivalents.

These

investments

represent

amounts

held

with

financial

institutions

that

are

readily

accessible

to

pay

Fund

expenses

or

investments.

The

Fund

may

invest

its

excess

cash

in

the

Federated

Treasury

Obligations

Fund

or

a

similar

money

market

fund

or

other

short-term

investment.

Credit

Enhancements

—

Certain

obligations

held

in

the

Fund

have

credit

enhancement

or

liquidity

features

that

may,

under

certain

circumstances,

provide

for

repayment

of

principal

and

interest

on

the

obligation

upon

demand

date,

interest

rate

reset

date

or

final

maturity.

These

enhancements

may

include:

letters

of

credit;

liquidity

guarantees;

security

purchase

agreements;

tender

option

purchase

agreements;

and

third

party

insurance

(i.e.,

AMBAC).

Mortgage

Dollar

Rolls

—

The

Fund

may

sell

mortgage-backed

securities

for

delivery

in

the

current

month

and

simultaneously

contract

to

repurchase

substantially

similar

(same

type,

coupon

and

maturity)

securities

on

a

specific

future

date

at

an

agreed-upon

price.

The

market

value

of

the

securities

that

a

Fund

is

required

to

purchase

may

decline

below

the

agreed

upon

repurchase

price

of

those

securities.

Pools

of

mortgages

collateralizing

those

securities

may

have

different

prepayment

histories

than

those

sold.

During

the

period

between

the

sale

and

repurchase,

a

Fund

will

not

be

entitled

to

receive

interest

and

principal

payments

on

the

securities

sold.

Proceeds

of

the

sale

will

be

invested

in

additional

instruments

for

a

Fund,

and

the

income

from

these

investments

will

generate

income

for

a

Fund.

If

such

income

does

not

exceed

the

income,

capital

appreciation

and

gain

or

loss

that

would

have

been

realized

on

the

securities

sold

as

part

of

the

dollar

roll,

the

use

of

this

technique

will

diminish

the

investment

performance

of

a

Fund

compared

with

what

the

performance

would

have

been

without

the

use

of

dollar

rolls.

The

Fund

accounts

for

mortgage

dollar

roll

transactions

as

purchases

and

sales.

The

Fund

does

not

hold

any

mortgage

dollar

rolls

during

the

period.

When-Issued

—

The

Fund

may

purchase

securities

on

a

"when-issued"

basis.

The

Fund

records

when-issued

securities

on

the

trade

date

and

pledge

assets

with

a

value

at

least

equal

to

the

purchase

commitment

for

payment

of

the

securities

purchased.

The

value

of

the

securities

underlying

when-issued

to

purchase

securities,

and

any

subsequent

fluctuation

in

their

value,

is

taken

into

account

when

determining

the

net

asset

value

of

the

Fund

commencing

with

the

date

the

Fund

agrees

to

purchase

the

securities.

The

Fund

does

not

accrue

interest

or

dividends

on

"when-issued"

securities

until

the

underlying

securities

are

received.

3. Concentration

of

Credit

Risk:

The

Fund

invests

primarily

in

debt

instruments

of

municipal

issuers

in

their

respective

states.

The

issuers'

abilities

to

meet

their

obligations

may

be

affected

by

economic

developments

in

a

specific

state

or

region.

Level

1-

Quoted

Prices

Level

2-

Other

Significant

Observable

Inputs

Level

3-

Significant

Unobservable

Inputs

Total

Assets:

Investments

in

Securities

Sterling

Capital

Virginia

Intermediate

Tax-Free

Fund

......

$

943,657(a)

$

73,192,620(b)

$

—

$

74,136,277

(a) Represents

money

market

funds

and/or

certain

preferred

stocks.

(b) Industries,

countries

or

security

types

are

disclosed

in

the

Schedule

of

Portfolio

Investments.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Sterling Capital Funds

- **b. Investment Company Act file number:** 811-06719

- **c. CIK number of Registrant:** 0000889284

- **d. LEI of Registrant:** 54930017VPAACVI5ZX74

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

  - **Street Address 1:** 3605 Glenwood Avenue

  - **City:** Raleigh

  - **State:** NC

  - **Foreign country:** US

  - **Zip / Postal Code:** 27612

  - **Telephone number:** 800-228-1872

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

- **a. Name of Series:** Sterling Capital Virginia Intermediate Tax-Free Fund

- **b. EDGAR series identifier (if any):** S000003551

- **c. LEI of Series:** 549300UXC5B6ULFYCE96

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

- **a. Date of fiscal year-end:** 2023-09-30

- **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:** $75182290.65

**Total Liabilities:** $266071.24

**Net Assets:** $74916219.41

**Cash Not Reported:** $592.78

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 3.40526000 | **1-Year:** 4305.28348000 | **5-Year:** 22930.03286000 | **10-Year:** 7613.06418000 | **30-Year:** 15.39400000

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

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000009871 | -0.29%               | 3.34%                | 0.35%                |
| Class ID C000009872 | -0.32%               | 3.32%                | 0.42%                |
| Class ID C000112498 | -0.38%               | 3.25%                | 0.35%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-48363.77               | $-301660.88                                |
| Month 2  | $-38678.82               | $2383551.27                                |
| Month 3  | $-43334.18               | $248132.90                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| VIRGINIA ST PUBLIC SCH AUTH SP             | Virginia Public School Authority                      | CUSIP: 928177CW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1035000 | PA      | $1204988.40   | 1.61%             | 2030-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RAPPAHANNOCK VA REGL JAIL AUTH             | Rappahannock Regional Jail Authority                  | CUSIP: 75381NCS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1375000 | PA      | $1456166.25   | 1.94%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALBEMARLE CNTY VA                          | County of Albemarle VA                                | CUSIP: 012662GA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1365000 | PA      | $1473353.70   | 1.97%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federated Hermes Treasury Obligations Fund | Federated Hermes Treasury Obligations Fund            | CUSIP: 60934N500<br>LEI: 254900WUIGYHOH89FC60 | Long             | STIV             | RF                | US        |    943657 | NS      | $943656.98    | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| NEWPORT NEWS VA                            | City of Newport News VA                               | CUSIP: 652233NF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1530000 | PA      | $1739089.80   | 2.32%             | 2029-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORFOLK VA                                 | City of Norfolk VA                                    | CUSIP: 655867YN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1465000 | PA      | $1645165.70   | 2.20%             | 2047-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON CNTY VA                          | County of Arlington VA                                | CUSIP: 041431WL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1580000 | PA      | $1780786.40   | 2.38%             | 2039-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST                                | Commonwealth of Virginia                              | CUSIP: 9281093K1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2087880.00   | 2.79%             | 2026-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON CNTY VA                          | County of Arlington VA                                | CUSIP: 041431RY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1652715.00   | 2.21%             | 2029-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALBEMARLE CNTY VA ECON DEV AUT             | Albemarle County Economic Development Authority       | CUSIP: 01266HCU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1240000 | PA      | $1359436.80   | 1.81%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHAMPTON CNTY VA INDL DEV A             | Southampton County Industrial Development Authority   | CUSIP: 841013AH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1338264.00   | 1.79%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUDOUN CNTY VA ECONOMIC DEV               | Loudoun County Economic Development Authority         | CUSIP: 54602QCG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1320000 | PA      | $1497764.40   | 2.00%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST CMWLTH TRANSPRTN B             | Virginia Commonwealth Transportation Board            | CUSIP: 927793J83<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1705515.00   | 2.28%             | 2030-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA BEACH VA STORM WTR UT             | City of Virginia Beach VA Storm Water Utility Revenue | CUSIP: 927747EK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2295000 | PA      | $2667730.95   | 3.56%             | 2031-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALEM VA                                   | City of Salem VA                                      | CUSIP: 794556WA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1380000 | PA      | $1531786.20   | 2.04%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA BEACH VA                          | City of Virginia Beach VA                             | CUSIP: 927734C50<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1265000 | PA      | $1344176.35   | 1.79%             | 2026-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FAIRFAX CNTY VA                            | County of Fairfax VA                                  | CUSIP: 30382AGF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1940000 | PA      | $2152682.20   | 2.87%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUDOUN CNTY VA ECON DEV AUTH              | Loudoun County Economic Development Authority         | CUSIP: 54589SAN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1040070.00   | 1.39%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHESTERFIELD CNTY VA                       | County of Chesterfield VA                             | CUSIP: 1663937R3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1063720.00   | 1.42%             | 2031-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST CMWLTH TRANSPRTN B             | Virginia Commonwealth Transportation Board            | CUSIP: 92778UBC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1215000 | PA      | $1309794.30   | 1.75%             | 2030-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST PUBLIC SCH AUTH SC             | Virginia Public School Authority                      | CUSIP: 92818HBJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1515000 | PA      | $1603006.35   | 2.14%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEWPORT NEWS VA                            | City of Newport News VA                               | CUSIP: 652233LW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1704990.00   | 2.28%             | 2029-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORFOLK VA                                 | City of Norfolk VA                                    | CUSIP: 655867M97<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1025000 | PA      | $1188395.25   | 1.59%             | 2034-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WINCHESTER VA ECON DEV AUTH HO             | Winchester Economic Development Authority             | CUSIP: 973121AM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    920000 | PA      | $938482.80    | 1.25%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON DC MET AREA TRANSIT             | Washington Metropolitan Area Transit Authority        | CUSIP: 938782GL7<br>LEI: 549300ADKOK76HQMJS30 | Long             | DBT              | MUN               | US        |   1640000 | PA      | $1743139.60   | 2.33%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST CLG BLDG AUTH EDUC             | Virginia College Building Authority                   | CUSIP: 92778WNZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1140500.00   | 1.52%             | 2029-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROANOKE VA                                 | City of Roanoke VA                                    | CUSIP: 770078DY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1265000 | PA      | $1474484.00   | 1.97%             | 2034-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUDOUN CNTY VA                            | County of Loudoun VA                                  | CUSIP: 54589TKN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2301240.00   | 3.07%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST PUBLIC SCH AUTH SP             | Virginia Public School Authority                      | CUSIP: 92817RBD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2310180.00   | 3.08%             | 2030-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST CMWLTH TRANSPRTN B             | Virginia Commonwealth Transportation Board            | CUSIP: 92778UCL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2204600.00   | 2.94%             | 2031-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORFOLK VA                                 | City of Norfolk VA                                    | CUSIP: 655867UB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2170400.00   | 2.90%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRISONBURG VA                            | City of Harrisonburg VA                               | CUSIP: 415666RR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1545000 | PA      | $1776935.40   | 2.37%             | 2030-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHARLOTTESVILLE VA                         | City of Charlottesville VA                            | CUSIP: 1610694P1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1030000 | PA      | $1198415.30   | 1.60%             | 2033-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RICHMOND VA PUBLIC UTILITY REV             | City of Richmond VA Public Utility Revenue            | CUSIP: 765433KE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1295000 | PA      | $1384199.60   | 1.85%             | 2027-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MANASSAS VA                                | City of Manassas VA                                   | CUSIP: 561824C68<br>LEI: 549300UXZ7FA0DPLIC25 | Long             | DBT              | MUN               | US        |   1810000 | PA      | $1924392.00   | 2.57%             | 2033-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FAIRFAX CNTY VA                            | County of Fairfax VA                                  | CUSIP: 30382AHE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2277420.00   | 3.04%             | 2031-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON CNTY VA                          | County of Arlington VA                                | CUSIP: 041431RZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1475000 | PA      | $1624742.00   | 2.17%             | 2030-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LEESBURG VA                                | Town of Leesburg VA                                   | CUSIP: 524426WX7<br>LEI: 549300D37K2L2W0OUM35 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1044730.00   | 1.39%             | 2027-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST CLG BLDG AUTH EDUC             | Virginia College Building Authority                   | CUSIP: 92778VEE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1950000 | PA      | $2112298.50   | 2.82%             | 2031-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST PUBLIC SCH AUTH SC             | Virginia Public School Authority                      | CUSIP: 92818HMS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1059790.00   | 1.41%             | 2032-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHESAPEAKE VA                              | City of Chesapeake VA                                 | CUSIP: 16532LKU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1770000 | PA      | $1945884.90   | 2.60%             | 2030-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FREDERICKSBURG VA ECON DEV AUT             | Fredericksburg Economic Development Authority         | CUSIP: 355849AV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1027630.00   | 1.37%             | 2026-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FAIRFAX CNTY VA                            | County of Fairfax VA                                  | CUSIP: 30382AJN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1145000 | PA      | $1327902.30   | 1.77%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RICHMOND VA                                | City of Richmond VA                                   | CUSIP: 76541VPH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2049700.00   | 2.74%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CULPEPER CO VA ECON DEV AUTH L             | Culpeper County Economic Development Authority        | CUSIP: 230228AM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1145000 | PA      | $1165472.60   | 1.56%             | 2026-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHESAPEAKE BAY VA BRIDGE & TUN             | Chesapeake Bay Bridge & Tunnel District               | CUSIP: 16514PAC3<br>LEI: 549300JGWE66ZSSOYN09 | Long             | DBT              | MUN               | US        |   1085000 | PA      | $1107904.35   | 1.48%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUDOUN CNTY VA                            | County of Loudoun VA                                  | CUSIP: 54589TFC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1334700.00   | 1.78%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

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

**Name of Applicant:** Sterling Capital Funds

**Signature:** Todd Miller

**Name of Signer:** Todd Miller

**Title:** Treasurer and Secretary