# EDGAR Filing Document

**Accession Number:** 0000889284
**File Stem:** 0000910472-26-003721
**Filing Date:** 2026-3
**Character Count:** 263171
**Document Hash:** 7f81ca9a0d3a4189c347de666bb041c5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-003721.hdr.sgml**: 20260302

**ACCESSION NUMBER**: 0000910472-26-003721

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260302

**DATE AS OF CHANGE**: 20260302

**PERIOD START**: 20260930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** STERLING CAPITAL FUNDS
- **CENTRAL INDEX KEY:** 0000889284

**ORGANIZATION NAME:**
- **EIN:** 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:** 26706029

**BUSINESS ADDRESS:**
- **STREET 1:** 434 FAYETTEVILLE ST
- **STREET 2:** SUITE 500
- **CITY:** RALEIGH
- **STATE:** NC
- **ZIP:** 27601
- **BUSINESS PHONE:** 8002281872

**MAIL ADDRESS:**
- **STREET 1:** 434 FAYETTEVILLE ST
- **STREET 2:** SUITE 500
- **CITY:** RALEIGH
- **STATE:** NC
- **ZIP:** 27601

**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 NATIONAL MUNICIPAL BOND ETF (Series ID: S000097704)

| Class ID   | Class Name                                   | Ticker Symbol   |
|:---|:---|:---|
| C000267178 | STERLING CAPITAL NATIONAL MUNICIPAL BOND ETF |  |

## Nport-Ex

Sterling

Capital

Behavioral

Large

Cap

Value

Equity

Fund

Schedule

of

Investments

December

31,

2025

-

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

98.79%

Aerospace

&

Defense

—

1.47%

2,343

General

Dynamics

Corp.

$

788,794

Automobiles

—

1.61%

10,643

General

Motors

Co.

865,489

Banks

—

8.67%

6,515

Citigroup,

Inc.

760,235

6,945

JPMorgan

Chase

&

Co.

2,237,818

13,601

U.S.

Bancorp

725,749

9,913

Wells

Fargo

&

Co.

923,892

4,647,694

Biotechnology

—

3.62%

1,928

Amgen,

Inc.

631,054

3,836

Gilead

Sciences,

Inc.

470,831

1,091

Regeneron

Pharmaceuticals,

Inc.

842,109

1,943,994

Broadline

Retail

—

0.91%

Dillard's,

Inc.,

Class

A

203,730

12,808

Macy's,

Inc.

282,417

486,147

Building

Products

—

1.60%

7,173

Johnson

Controls

International

PLC

858,967

Capital

Markets

—

9.10%

7,413

Bank

of

New

York

Mellon

Corp.

(The)

860,575

8,668

Charles

Schwab

Corp.

(The)

866,020

9,243

Franklin

Resources,

Inc.

220,815

1,323

Goldman

Sachs

Group,

Inc.

(The)

1,162,917

6,146

Morgan

Stanley

1,091,099

1,608

Northern

Trust

Corp.

219,637

2,048

State

Street

Corp.

264,212

5,809

Virtu

Financial,

Inc.,

Class

A

193,556

4,878,831

Chemicals

—

0.34%

2,369

CF

Industries

Holdings,

Inc.

183,218

Communications

Equipment

—

2.36%

16,408

Cisco

Systems,

Inc.

1,263,908

Construction

&

Engineering

—

0.42%

556

Valmont

Industries,

Inc.

223,690

Consumer

Finance

—

2.28%

3,779

Capital

One

Financial

Corp.

915,878

3,676

Synchrony

Financial

306,689

1,222,567

Consumer

Staples

Distribution

&

Retail

—

1.24%

1,812

Dollar

General

Corp.

240,579

1,685

Dollar

Tree,

Inc.

(a) 207,272

Sterling

Capital

Behavioral

Large

Cap

Value

Equity

Fund

Schedule

of

Investments

(continued)

December

31,

2025

-

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

(continued)

Consumer

Staples

Distribution

&

Retail

—

(continued)

2,866

US

Foods

Holding

Corp.

(a) $

215,867

663,718

Containers

&

Packaging

—

0.42%

2,175

Crown

Holdings,

Inc.

223,960

Diversified

Telecommunication

Services

—

2.52%

39,592

AT&T,

Inc.

983,465

9,068

Verizon

Communications,

Inc.

369,340

1,352,805

Electric

Utilities

—

1.65%

6,587

American

Electric

Power

Co.,

Inc.

759,548

1,069

Duke

Energy

Corp.

125,297

884,845

Electrical

Equipment

—

0.42%

6,785

Sensata

Technologies

Holding

PLC

225,873

Energy

Equipment

&

Services

—

0.64%

7,685

TechnipFMC

PLC

342,444

Entertainment

—

1.98%

9,349

Walt

Disney

Co.

(The)

1,063,636

Financial

Services

—

0.50%

9,262

MGIC

Investment

Corp.

270,636

Food

Products

—

0.77%

4,089

Lamb

Weston

Holdings,

Inc.

171,288

10,859

Smithfield

Foods

Inc.

242,482

413,770

Health

Care

Providers

&

Services

—

6.46%

1,928

Cencora,

Inc.

651,182

10,587

CVS

Health

Corp.

840,184

1,759

HCA

Healthcare,

Inc.

821,207

862

McKesson

Corp.

707,090

1,028

Tenet

Healthcare

Corp.

(a) 204,284

1,081

Universal

Health

Services,

Inc.,

Class

B

235,680

3,459,627

Health

Care

REITs

—

0.38%

4,590

Omega

Healthcare

Investors,

Inc.

203,521

Hotels,

Restaurants

&

Leisure

—

1.23%

Booking

Holdings,

Inc.

171,371

880

Expedia,

Inc.

249,312

3,390

Travel

+

Leisure

Co.

(a) 239,097

659,780

Household

Products

—

0.65%

1,292

Kimberly-Clark

Corp.

130,350

9,620

Reynolds

Consumer

Products,

Inc.

220,490

350,840

Sterling

Capital

Behavioral

Large

Cap

Value

Equity

Fund

Schedule

of

Investments

(continued)

December

31,

2025

-

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

(continued)

Independent

Power/Renewable

Electricity

Producers

—

0.55%

1,812

Vistra

Energy

Corp.

$

292,330

Insurance

—

4.57%

3,484

Allstate

Corp.

725,195

2,257

Chubb

Ltd.

704,455

5,191

Lincoln

National

Corp.

231,155

2,732

Travelers

Cos.,

Inc.

(The)

792,444

2,453,249

Interactive

Media

&

Services

—

2.54%

Alphabet,

Inc.,

Class

A

72,616

3,481

Alphabet,

Inc.,

Class

C

1,092,337

5,959

Match

Group,

Inc.

192,416

1,357,369

IT

Services

—

2.28%

4,132

International

Business

Machines

Corp.

1,223,940

Machinery

—

4.80%

Caterpillar,

Inc.

230,294

1,641

Cummins,

Inc.

837,647

3,475

Flowserve

Corporation

241,096

2,501

Mueller

Industries,

Inc.

287,115

1,642

Oshkosh

Corp.

206,284

879

Parker-Hannifin

Corp.

772,606

2,575,042

Media

—

1.52%

3,878

Fox

Corporation,

Class

A

283,365

4,556

Fox

Corporation,

Class

B

295,822

1,166

Nexstar

Media

Group,

Inc.

236,756

815,943

Metals

&

Mining

—

3.70%

3,966

Anglogold

Ashanti

PLC

338,220

9,123

Newmont

Goldcorp

Corp.

910,932

5,117

Southern

Copper

Corp.

734,136

1,983,288

Mortgage

Real

Estate

Investment

Trusts

(REITs)

—

0.31%

15,388

Rithm

Capital

Corp.

(a) 167,729

Multi-Utilities

—

1.43%

8,697

Sempra

Energy

767,858

Oil

&

Gas

Producers

—

0.37%

4,343

HF

Sinclair

Corporation

200,125

Oil,

Gas

&

Consumable

Fuels

—

5.38%

7,564

Exxon

Mobil

Corp.

910,252

3,911

Marathon

Petroleum

Corp.

636,046

5,201

Phillips

671,137

4,100

Valero

Energy

Corp.

667,439

2,884,874

Sterling

Capital

Behavioral

Large

Cap

Value

Equity

Fund

Schedule

of

Investments

(continued)

December

31,

2025

-

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

(continued)

Passenger

Airlines

—

1.25%

18,263

American

Airlines

Group,

Inc.

(a) $

279,972

1,430

Delta

Air

Lines,

Inc.

99,242

2,589

United

Continental

Holdings,

Inc.

(a) 289,502

668,716

Pharmaceuticals

—

3.75%

11,716

Bristol-Myers

Squibb

Co.

631,961

1,441

Jazz

Pharmaceuticals

PLC

(a) 244,970

4,238

Johnson

&

Johnson

877,054

20,657

Viatris,

Inc.

257,180

2,011,165

Retail

REITs

—

2.61%

11,710

Realty

Income

Corp.

660,093

3,983

Simon

Property

Group,

Inc.

737,293

1,397,386

Semiconductors

&

Semiconductor

Equipment

—

5.62%

4,471

Lam

Research

Corp.

765,346

4,831

Micron

Technology,

Inc.

1,378,815

5,117

QUALCOMM,

Inc.

875,263

3,019,424

Software

—

0.49%

8,559

Teradata

Corporation

(a) 260,536

Specialized

REITs

—

0.75%

3,624

EPR

Properties

180,838

7,479

Millrose

Properties,

Inc.

223,397

404,235

Specialty

Retail

—

2.04%

2,998

Best

Buy

Co.,

Inc.

200,656

9,132

Gap,

Inc.

(The)

233,779

2,140

Ross

Stores,

Inc.

385,499

Ulta

Beauty,

Inc.

(a) 272,860

1,092,794

Technology

Hardware,

Storage

&

Peripherals

—

1.51%

5,305

Dell

Technologies,

Inc.,

Class

C

667,794

816

Western

Digital

Corp.

(a) 140,572

808,366

Technology

Services

—

0.44%

8,094

Amentum

Holdings,

Inc.

(a) 234,726

Textiles,

Apparel

&

Luxury

Goods

—

0.12%

763

Crocs,

Inc.

(a) 65,252

Tobacco

—

1.52%

14,147

Altria

Group,

Inc.

815,716

Total

Common

Stocks

(Cost $42,895,218)

52,978,817

Sterling

Capital

Behavioral

Large

Cap

Value

Equity

Fund

Schedule

of

Investments

(continued)

December

31,

2025

-

(Unaudited)

Shares

Fair

Value

MONEY

MARKET

FUNDS

—

2.23%

1,197,014

Federated

Hermes

Treasury

Obligations

Fund,

Institutional

Shares,

3.67%

(b) $

1,197,014

Total

Money

Market

Funds

(Cost

$1,197,014)

1,197,014

Total

Investments—

101.02%

(Cost

$44,092,232)

54,175,831

Liabilities

in

Excess

of

Other

Assets

—

(1.02)%

(544,772)

NET

ASSETS

—

100.00%

$

53,631,059

(a) Non-income

producing

security.

(b) Represents

the

current

yield

as

of

report

date.

Sterling

Capital

Behavioral

Small

Cap

Value

Equity

Fund

Schedule

of

Investments

December

31,

2025

(Unaudited)

dl

Shares

Fair

Value

COMMON

STOCKS

—

99.15%

Automobile

Components

—

1.13%

28,190

Dana,

Inc.

$

669,794

4,320

LCI

Industries

524,189

1,193,983

Automotive

—

2.40%

70,290

American

Axle

&

Manufacturing

Holdings,

Inc.

(a) 450,559

4,230

Aptiv

Holdings

Ltd.

(a) 321,861

7,220

BorgWarner,

Inc.

325,333

3,080

Lear

Corp.

352,968

9,220

Phinia,

Inc.

578,002

5,360

Visteon

Corp.

509,736

2,538,459

Banking

—

4.23%

58,620

Capitol

Federal

Financial,

Inc.

399,202

14,480

CNB

Financial

Corp.

378,942

8,520

Enterprise

Financial

Services

Corp.

460,080

9,630

First

Mid-Illinois

Bancshares,

Inc.

375,570

5,500

Great

Southern

Bancorp,

Inc.

338,580

9,160

HomeTrust

Bancshares,

Inc.

(a) 393,330

4,730

Metropolitan

Bank

Holding

Corp.

361,183

9,990

Orrstown

Financial

Services,

Inc.

353,846

25,360

Provident

Financial

Services,

Inc.

500,860

22,210

Shore

Bancshares,

Inc.

392,673

8,920

Third

Coast

Bancshares

Inc.

(a) 339,049

14,330

Valley

National

Bancorp

167,374

4,460,689

Banks

—

10.77%

6,350

1st

Source

Corp.

396,812

3,090

Associated

Banc-Corp.

79,598

9,524

Axos

Financial,

Inc.

(a) 820,588

12,030

Bank

of

NT

Butterfield

&

Son

Ltd.

(The)

599,335

16,071

BankUnited,

Inc.

716,284

5,700

Burke

&

Herbert

Financial

Services

Corp.

355,167

13,780

Business

First

Bancshares,

Inc.

360,209

13,640

Byline

Bancorp,

Inc.

397,606

17,930

California

BanCorp

334,753

11,594

Cathay

General

Bancorp

561,034

14,690

Civista

Bancshares,

Inc.

326,412

7,260

Community

Trust

Bancorp,

Inc.

410,190

7,520

Customers

Bancorp,

Inc.

(a) 549,862

6,052

First

Financial

Corp.

365,662

11,640

Hancock

Whitney

Corp.

741,235

14,560

Hanmi

Financial

Corp.

393,557

5,780

Home

Bancorp,

Inc.

334,084

7,999

Mercantile

Bank

Corp.

384,752

12,400

Northrim

BanCorp,

Inc.

329,964

Sterling

Capital

Behavioral

Small

Cap

Value

Equity

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

(continued)

Banks

—

(continued)

21,820

Old

Second

Bancorp,

Inc.

$

425,490

2,460

Popular,

Inc.

306,319

4,432

Preferred

Bank

418,514

9,123

South

Plains

Financial,

Inc.

353,972

12,150

Trustmark

Corp.

473,243

15,780

Univest

Financial

Corp.

516,637

6,760

Zions

Bancorp.

395,730

11,347,009

Biotech

&

Pharma

—

1.50%

33,320

Amneal

Pharmaceuticals,

Inc.

(a) 419,832

21,300

Innoviva,

Inc.

(a) 425,787

4,030

PTC

Therapeutics,

Inc.

(a) 306,119

23,030

Theravance

Biopharma

Inc.

(a) 430,891

1,582,629

Biotechnology

—

0.77%

5,020

Alkermes

plc

(a) 140,460

3,380

Aurinia

Pharmaceuticals,

Inc.

(a) 53,911

2,270

Catalyst

Pharmaceuticals,

Inc.

(a) 52,982

2,680

Exelixis,

Inc.

(a) 117,464

550

Incyte

Corp.

(a) 54,324

5,340

Keros

Therapeutics,

Inc.

(a) 108,722

12,000

Kura

Oncology,

Inc.

(a) 124,680

6,790

Monte

Rosa

Therapeutics,

Inc.

(a) 106,467

1,290

Rigel

Pharmaceuticals,

Inc.

(a) 55,251

814,261

Broadline

Retail

—

0.38%

18,020

Macy's,

Inc.

397,341

Chemicals

—

1.56%

3,380

Cabot

Corp.

224,026

4,120

CF

Industries

Holdings,

Inc.

318,641

49,300

Ecovyst,

Inc.

(a) 479,689

5,410

Ingevity

Corp.

(a) 320,164

10,730

Intrepid

Potash,

Inc.

(a) 297,543

1,640,063

Commercial

Services

&

Supplies

—

1.45%

5,080

Cimpress

plc

(a) 338,277

28,338

Interface,

Inc.

791,197

38,110

Pitney

Bowes

Inc.

402,823

1,532,297

Commercial

Support

Services

—

0.42%

22,910

Healthcare

Services

Group,

Inc.

(a) 438,039

Construction

&

Engineering

—

2.21%

4,240

Granite

Construction,

Inc.

489,084

28,790

Great

Lakes

Dredge

&

Dock

Corp.

(a) 377,725

5,790

NWPX

Infrastructure,

Inc.

(a) 361,817

Sterling

Capital

Behavioral

Small

Cap

Value

Equity

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

(continued)

Construction

&

Engineering

—

(continued)

16,380

Tutor

Perini

Corp.

(a) $

1,097,788

2,326,414

Consumer

Finance

—

1.44%

11,428

Bread

Financial

Holdings,

Inc.

846,014

7,999

Synchrony

Financial

667,357

1,513,371

Consumer

Staples

Distribution

&

Retail

—

0.84%

7,470

Andersons,

Inc.

(The)

397,180

14,570

United

Natural

Foods,

Inc.

(a) 490,573

887,753

Containers

&

Packaging

—

1.03%

87,870

Ardagh

Metal

Packaging

SA

360,267

3,140

Crown

Holdings,

Inc.

323,326

21,210

Myers

Industries,

Inc.

397,051

1,080,644

Diversified

Consumer

Services

—

1.26%

630

Graham

Holdings

Co.,

Class

B

692,118

21,660

Perdoceo

Education

Corp.

635,288

1,327,406

Diversified

Telecommunication

Services

—

0.82%

48,730

Liberty

Latin

America

Ltd.,

Class

C

(a) 363,526

64,550

Lumen

Technologies,

Inc.

(a) 501,553

865,079

Electric

Utilities

—

3.38%

23,570

AES

Corp.

337,994

11,070

Black

Hills

Corp.

768,479

5,740

Edison

International

344,515

4,400

Evergy,

Inc.

318,956

4,650

Eversource

Energy

313,085

8,059

Otter

Tail

Corp.

651,248

720

Pinnacle

West

Capital

Corp.

63,864

15,747

Portland

General

Electric

Co.

755,699

3,553,840

Electrical

Equipment

—

0.75%

2,200

EnerSys

322,850

16,820

Kimball

Electronics,

Inc.

(a) 467,932

790,782

Electronic

Equipment,

Instruments

&

Components

—

0.97%

4,450

Sanmina

Corporation

(a) 667,811

9,030

ScanSource,

Inc.

(a) 352,712

1,020,523

Energy

Equipment

&

Services

—

1.63%

1,770

Halliburton

Co.

50,020

41,560

ProPetro

Holding

Corp.

(a) 395,236

8,370

TechnipFMC

PLC

372,967

11,400

Valaris

Ltd

(a) 574,560

Sterling

Capital

Behavioral

Small

Cap

Value

Equity

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

(continued)

Energy

Equipment

&

Services

—

(continued)

4,190

Weatherford

International

plc

(a) $

327,909

1,720,692

Engineering

&

Construction

—

0.59%

5,020

Primoris

Services

Corp.

623,183

Equity

Real

Estate

Investment

Trusts

(REITs)

—

1.37%

20,680

Alpine

Income

Property

Trust,

Inc.

345,770

20,920

American

Assets

Trust,

Inc.

396,016

23,446

Essential

Properties

Realty

Trust,

Inc.

695,408

1,437,194

Financial

Services

—

3.87%

12,440

Banco

Latinoamericano

de

Comercio

Exterior

SA,

Class

E

554,824

11,774

Enact

Holdings,

Inc.

466,721

12,400

Jackson

Financial

Corp.

1,322,460

12,857

MGIC

Investment

Corp.

375,682

34,350

Pagseguro

Digital

Ltd.,

Class

A

331,134

18,898

Radian

Group,

Inc.

680,139

16,910

Velocity

Financial,

Inc.

(a) 351,052

4,082,012

Food

—

0.31%

24,960

Herbalife

Ltd.

(a) 321,734

Food

Products

—

0.37%

10,840

Fresh

Del

Monte

Produce,

Inc.

386,229

Gas

Utilities

—

1.31%

5,055

National

Fuel

Gas

Co.

404,703

8,520

ONE

Gas,

Inc.

658,170

8,430

UGI

Corp.

315,535

1,378,408

Health

Care

Equipment

&

Supplies

—

0.43%

30,650

Avanos

Medical,

Inc.

(a) 344,200

7,170

Inmode

Ltd.

(a) 105,327

449,527

Health

Care

Facilities

&

Services

—

1.05%

35,760

Pediatrix

Medical

Group,

Inc.

(a) 764,906

13,410

Progyny,

Inc.

(a) 344,369

1,109,275

Health

Care

Providers

&

Services

—

3.12%

40,140

AdaptHealth

Corp.

(a) 399,794

2,448

DaVita,

Inc.

(a) 278,117

4,430

Encompass

Health

Corp.

470,200

36,710

Enhabit,

Inc.

(a) 338,466

1,930

Nutex

Health,

Inc.

(a) 317,717

9,410

PACS

Group,

Inc.

(a) 361,250

3,023

Tenet

Healthcare

Corp.

(a) 600,731

Sterling

Capital

Behavioral

Small

Cap

Value

Equity

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

(continued)

Health

Care

Providers

&

Services

—

(continued)

2,347

Universal

Health

Services,

Inc.,

Class

B

$

511,693

3,277,968

Health

Care

REITs

—

0.37%

80,710

Diversified

Healthcare

Trust

391,444

Health

Care

Technology

—

0.06%

9,590

Teladoc

Health,

Inc.

(a) 67,130

Hotel

&

Resort

REITs

—

1.59%

43,940

Apple

Hospitality

REIT,

Inc.

520,690

49,646

DiamondRock

Hospitality

Co.

444,828

18,030

Host

Hotels

&

Resorts,

Inc.

319,672

28,290

Xenia

Hotels

&

Resorts,

Inc.

400,021

1,685,211

Hotels,

Restaurants

&

Leisure

—

0.82%

10,760

Accel

Entertainment

Inc

(a) 122,772

10,280

Dine

Brands

Global,

Inc.

330,399

5,810

Travel

+

Leisure

Co.

409,779

862,950

Household

Products

—

0.33%

11,980

Central

Garden

&

Pet

Co.,

Class

A

(a) 349,696

Independent

Power/Renewable

Electricity

Producers

—

0.31%

9,940

Clearway

Energy,

Inc.,

Class

C

330,604

Industrial

Intermediate

Prod

—

0.58%

2,990

AZZ,

Inc.

320,468

15,480

Mayville

Engineering

Co.,

Inc.

(a) 289,786

610,254

Industrial

REITs

—

0.82%

8,010

Innovative

Industrial

Properties,

Inc.

379,354

9,760

LXP

Industrial

Trust

483,900

863,254

Industrial

Support

Services

—

0.29%

20,070

Titan

Machinery,

Inc.

(a) 301,853

Insurance

—

5.20%

3,500

Assured

Guaranty

Ltd.

314,545

5,295

Axis

Capital

Holdings

Ltd.

567,042

16,630

CNO

Financial

Group,

Inc.

706,276

16,210

Donegal

Group

Inc.,

Class

A

323,876

25,670

Heritage

Insurance

Holdings,

Inc.

(a) 751,104

19,180

Kingstone

Companies,

Inc.

322,799

7,680

Lincoln

National

Corp.

341,990

2,610

NMI

Holdings,

Inc.,

Class

A

(a) 106,462

1,580

Reinsurance

Group

of

America,

Inc.

321,467

1,170

RenaissanceRe

Holdings,

Ltd.

328,957

21,450

SiriusPoint

Ltd.

(a) 469,541

12,520

United

Fire

Group,

Inc.

455,102

Sterling

Capital

Behavioral

Small

Cap

Value

Equity

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

(continued)

Insurance

—

(continued)

14,080

Universal

Insurance

Holdings,

Inc.

$

475,904

5,485,065

Internet

Media

&

Services

—

1.12%

11,840

EverQuote,

Inc.

(a) 319,680

22,700

Lyft,

Inc.,

Class

A

(a) 439,699

21,390

Upwork,

Inc.

(a) 423,950

1,183,329

Leisure

Products

—

0.53%

8,780

Polaris,

Inc.

555,335

Machinery

—

2.34%

2,920

AGCO

Corp.

304,614

6,260

Blue

Bird

Corporation

(a) 294,220

17,390

Kennametal,

Inc.

494,050

26,080

Luxfer

Holdings

plc

352,862

6,287

Mueller

Industries,

Inc.

721,748

2,430

Oshkosh

Corp.

305,281

2,472,775

Marine

Transportation

—

0.37%

24,760

Costamare,

Inc.

390,960

Media

—

1.08%

6,050

Fox

Corporation,

Class

A

442,073

6,430

Fox

Corporation,

Class

B

417,500

1,370

Nexstar

Media

Group,

Inc.

278,179

1,137,752

Metals

&

Mining

—

1.65%

6,690

Alcoa

Corporation

355,507

16,980

Compass

Minerals

International,

Inc.

333,487

3,440

Kaiser

Aluminum

Corp.

395,118

30,140

SSR

Mining,

Inc.

660,669

1,744,781

Mortgage

Real

Estate

Investment

Trusts

(REITs)

—

0.30%

28,784

Rithm

Capital

Corp.

(a) 313,746

Multi-Utilities

—

0.51%

14,030

Avista

Corp.

540,716

Office

REITs

—

0.59%

11,298

Cousins

Properties,

Inc.

291,262

8,708

Kilroy

Realty

Corp.

325,418

616,680

Oil

&

Gas

Producers

—

0.66%

6,880

HF

Sinclair

Corporation

317,030

26,160

SandRidge

Energy,

Inc.

377,489

694,519

Oil

&

Gas

Services

&

Equipment

—

1.35%

20,640

Innovex

International,

Inc.

(a) 451,397

Sterling

Capital

Behavioral

Small

Cap

Value

Equity

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

(continued)

Oil

&

Gas

Services

&

Equipment

—

(continued)

65,370

RPC,

Inc.

$

355,613

148,040

Transocean

Ltd.

611,405

1,418,415

Oil,

Gas

&

Consumable

Fuels

—

2.71%

12,824

APA

Corp.

313,675

35,830

DHT

Holdings,

Inc.

(a) 437,484

28,080

Diversified

Energy

Co

PLC

(a) 406,598

11,350

Par

Pacific

Holdings,

Inc.

(a) 398,839

8,810

Scorpio

Tankers,

Inc.

447,813

39,620

Talos

Energy,

Inc.

(a) 436,612

7,780

Teekay

Tankers

Ltd.,

Class

A

415,608

2,856,629

Passenger

Airlines

—

1.86%

20,650

American

Airlines

Group,

Inc.

(a) 316,565

2,903

Copa

Holdings

SA,

Class

A

350,131

8,864

SkyWest,

Inc.

(a) 890,034

3,610

United

Continental

Holdings,

Inc.

(a) 403,670

1,960,400

Pharmaceuticals

—

3.09%

14,599

Amphastar

Pharmaceuticals,

Inc.

(a) 390,961

3,890

ANI

Pharmaceuticals,

Inc.

(a) 307,077

8,910

Collegium

Pharmaceutical,

Inc.

(a) 412,533

8,600

Harmony

Biosciences

Holdings,

Inc.

(a) 321,812

2,736

Jazz

Pharmaceuticals

PLC

(a) 465,120

30,080

Organon

&

Co.

215,674

15,780

Pacira

Pharmaceuticals,

Inc./DE

(a) 408,386

10,330

Royalty

Pharma

PLC,

Class

A

399,151

27,002

Viatris,

Inc.

336,175

3,256,889

Professional

Services

—

0.42%

11,580

IBEX

Holdings

Ltd

(a) 442,124

Real

Estate

Management

&

Development

—

1.23%

15,130

Forestar

Group,

Inc.

(a) 372,651

4,170

Howard

Hughes

Holdings,

Inc.

(a) 332,641

16,659

RMR

Group,

Inc.

(The),

Class

A

248,219

21,450

Tejon

Ranch

Company

(a) 338,267

1,291,778

Real

Estate

Services

—

0.58%

37,660

Cushman

&

Wakefield

Ltd.

(a) 609,715

REIT

—

1.22%

7,460

National

Retail

Properties,

Inc.

295,640

21,730

Postal

Realty

Trust,

Inc.,

Class

A

350,721

14,800

Rayonier,

Inc.

320,420

9,610

Vornado

Realty

Trust

319,821

1,286,602

Sterling

Capital

Behavioral

Small

Cap

Value

Equity

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

(continued)

Retail

-

Discretionary

—

1.02%

26,830

Kohl's

Corp.

$

547,601

9,680

Rush

Enterprises,

Inc.,

Class

A

522,139

1,069,740

Retail

REITs

—

0.39%

23,260

NetSTREIT

Corp.

410,306

Semiconductors

—

0.29%

15,410

Penguin

Solutions,

Inc.

(a) 301,420

Semiconductors

&

Semiconductor

Equipment

—

1.73%

13,776

Amkor

Technology,

Inc.

543,876

2,690

Cirrus

Logic,

Inc.

(a) 318,765

20,140

Photronics,

Inc.

(a) 644,480

5,000

Skyworks

Solutions,

Inc.

317,050

1,824,171

Software

—

2.53%

32,050

Cerence,

Inc.

(a) 342,615

12,370

Computer

Programs

&

Systems,

Inc.

(a) 273,006

14,500

Consensus

Cloud

Solutions,

Inc.

(a) 316,390

12,270

GigaCloud

Technology

Inc,

Class

A

(a) 481,965

14,060

Pagaya

Technologies

Ltd.

(a) 293,854

10,890

RingCentral,

Inc.,

Class

A

(a) 314,503

10,800

Teradata

Corporation

(a) 328,752

3,730

Zoom

Video

Communications,

Inc.

(a) 321,862

2,672,947

Specialized

REITs

—

1.02%

6,275

EPR

Properties

313,123

24,090

Safehold,

Inc.

329,792

15,550

VICI

Properties,

Inc.

437,266

1,080,181

Specialty

Finance

—

0.42%

7,460

Ally

Financial,

Inc.

337,864

1,610

Essent

Group

Ltd.

104,666

442,530

Specialty

Retail

—

2.78%

6,650

Buckle,

Inc.

355,243

11,820

Gap,

Inc.

(The)

302,592

35,610

Sally

Beauty

Holdings,

Inc.

(a) 507,799

12,950

Signet

Jewelers

Ltd.

1,073,295

9,280

Urban

Outfitters,

Inc.

(a) 698,413

2,937,342

Steel

—

0.96%

14,660

Commercial

Metals

Co.

1,014,765

Technology

Hardware

—

1.84%

21,520

Daktronics,

Inc.

(a) 425,450

5,950

Flex

Ltd.

(a) 359,499

17,130

NetScout

Systems,

Inc.

(a) 463,538

Sterling

Capital

Behavioral

Small

Cap

Value

Equity

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

(continued)

Technology

Hardware

—

(continued)

20,140

ViaSat,

Inc.

(a) $

694,024

1,942,511

Technology

Hardware,

Storage

&

Peripherals

—

0.32%

4,950

Diebold

Nixdorf,

Inc.

(a) 336,056

Technology

Services

—

0.31%

22,460

DXC

Technology

Co.

(a) 329,039

Telecommunications

—

1.07%

12,480

Globalstar,

Inc.

(a) 761,779

6,630

Millicom

International

Cellular

S.A.

367,567

1,129,346

Transportation

&

Logistics

—

0.36%

21,650

Navigator

Holdings

Ltd.

374,978

Wholesale

-

Discretionary

—

0.77%

34,760

Hudson

Technologies,

Inc.

(a) 238,106

19,190

KAR

Auction

Services,

Inc.

(a) 571,478

809,584

Total

Common

Stocks

(Cost $88,030,148)

104,492,326

Shares

Fair

Value

MONEY

MARKET

FUNDS

—

0.76%

798,268

Federated

Hermes

Treasury

Obligations

Fund,

Institutional

Shares,

3.67%

(b) 798,268

Total

Money

Market

Funds

(Cost

$798,268)

798,268

Total

Investments—

99.91%

(Cost

$88,828,416)

105,290,594

Other

Assets

in

Excess

of

Liabilities

—

0.09%

96,303

NET

ASSETS

—

100.00%

$

105,386,897

(a) Non-income

producing

security.

(b) Represents

the

current

yield

as

of

report

date.

Sterling

Capital

Special

Opportunities

Fund

Schedule

of

Investments

December

31,

2025

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

98.92%

Asset

Management

—

3.14%

79,994

Apollo

Global

Management,

Inc.

$

11,579,931

Biotechnology

—

2.08%

33,530

Natera,

Inc.

(a) 7,681,388

Capital

Markets

—

5.15%

120,023

Charles

Schwab

Corp.

(The)

11,991,499

13,492

S&P

Global,

Inc.

7,050,784

19,042,283

Commercial

Services

&

Supplies

—

1.25%

117,590

Copart,

Inc.

(a) 4,603,649

Communications

Equipment

—

0.85%

12,370

F5,

Inc.

(a) 3,157,566

Construction

Materials

—

4.68%

138,447

CRH

PLC

17,278,186

Entertainment

—

1.84%

26,523

Take-Two

Interactive

Software,

Inc.

(a) 6,790,684

Health

Care

Equipment

&

Supplies

—

4.06%

47,805

Danaher

Corp.

10,943,520

61,103

DexCom,

Inc.

(a) 4,055,406

14,998,926

Health

Care

Facilities

&

Services

—

2.79%

31,189

UnitedHealth

Group,

Inc.

10,295,801

Health

Care

Providers

&

Services

—

1.01%

7,986

HCA

Healthcare,

Inc.

3,728,344

Household

Durables

—

2.56%

91,910

Lennar

Corporation,

Class

A

9,448,348

Insurance

—

1.33%

61,466

Brown

&

Brown,

Inc.

4,898,840

Interactive

Media

&

Services

—

5.04%

59,402

Alphabet,

Inc.,

Class

C

18,640,347

Internet

&

Direct

Marketing

Retail

—

4.51%

72,202

Amazon.com,

Inc.

(a) 16,665,666

IT

Services

—

5.38%

112,363

Akamai

Technologies,

Inc.

(a) 9,803,672

18,860

CACI

International,

Inc.,

Class

A

(a) 10,048,797

19,852,469

Machinery

—

4.16%

13,246

Deere

&

Co.

6,166,940

80,389

Mueller

Industries,

Inc.

9,228,657

15,395,597

Sterling

Capital

Special

Opportunities

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

(continued)

Oil

&

Gas

Producers

—

1.49%

74,940

ONEOK,

Inc.

$

5,508,090

Pharmaceuticals

—

7.26%

10,791

Eli

Lilly

&

Co.

11,596,872

487,937

Teva

Pharmaceutical

Industries

Ltd.

-

ADR

(a) 15,228,513

26,825,385

Real

Estate

Management

&

Development

—

2.12%

48,809

CBRE

Group,

Inc.,

Class

A

(a) 7,847,999

Semiconductors

—

7.18%

55,633

Coherent

Corp.

(a) 10,268,183

191,072

Marvell

Technology,

Inc.

16,237,298

26,505,481

Semiconductors

&

Semiconductor

Equipment

—

10.91%

127,264

NVIDIA

Corp.

23,734,736

46,410

NXP

Semiconductors

N.V.

10,073,755

55,539

Universal

Display

Corporation

6,485,844

40,294,335

Software

—

14.75%

17,148

Intuit,

Inc.

11,359,178

38,443

Microsoft

Corp.

18,591,803

60,860

Oracle

Corp.

11,862,223

26,966

Synopsys,

Inc.

(a) 12,666,469

54,479,673

Technology

Services

—

3.52%

37,053

Visa,

Inc.,

Class

A

12,994,858

Wireless

Telecommunication

Services

—

1.86%

33,788

T-Mobile

US,

Inc.

6,860,316

Total

Common

Stocks

(Cost $204,007,288)

365,374,162

Shares

Fair

Value

MONEY

MARKET

FUNDS

—

1.12%

4,127,302

Federated

Hermes

Treasury

Obligations

Fund,

Institutional

Shares,

3.67%

(b) 4,127,302

Total

Money

Market

Funds

(Cost

$4,127,302)

4,127,302

Total

Investments—

100.04%

(Cost

$208,134,590)

369,501,464

Liabilities

in

Excess

of

Other

Assets

—

(0.04)%

(159,526)

NET

ASSETS

—

100.00%

$

369,341,938

(a) Non-income

producing

security.

(b) Represents

the

current

yield

as

of

report

date.

Sterling

Capital

Special

Opportunities

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

ADR

American

Depositary

Receipt

Sterling

Capital

Equity

Income

Fund

Schedule

of

Investments

December

31,

2025

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

98.29%

Beverages

—

3.35%

173,952

PepsiCo,

Inc.

$

24,965,591

Biotechnology

—

3.47%

113,381

AbbVie,

Inc.

25,906,425

Capital

Markets

—

14.31%

63,238

Ameriprise

Financial,

Inc.

31,008,121

328,132

Charles

Schwab

Corp.

(The)

32,783,669

13,332

Goldman

Sachs

Group,

Inc.

(The)

11,718,828

134,554

Nasdaq,

Inc.

13,069,230

112,500

Raymond

James

Financial,

Inc.

18,066,375

106,646,223

Chemicals

—

4.42%

77,437

New

Linde

PLC

33,018,362

Commercial

Support

Services

—

4.46%

150,996

Waste

Management,

Inc.

33,175,331

Communications

Equipment

—

2.11%

41,112

Motorola

Solutions,

Inc.

15,759,052

Containers

&

Packaging

—

1.05%

42,868

Avery

Dennison

Corp.

7,796,832

Electric

Utilities

—

3.13%

267,656

Southern

Co.

(The)

23,339,603

Electrical

Equipment

—

3.18%

60,965

Rockwell

Automation,

Inc.

23,719,653

Health

Care

Equipment

&

Supplies

—

1.98%

117,680

Abbott

Laboratories

14,744,127

Health

Care

Providers

&

Services

—

2.84%

60,339

Elevance

Health,

Inc.

21,151,836

Hotels,

Restaurants

&

Leisure

—

3.31%

59,309

Domino's

Pizza,

Inc.

24,721,178

Household

Durables

—

2.17%

112,410

DR

Horton,

Inc.

16,190,412

Industrial

Conglomerates

—

2.80%

106,995

Honeywell

International,

Inc.

20,873,655

Insurance

—

12.22%

219,089

Aflac,

Inc.

24,158,944

77,814

Everest

Group,

Ltd.

26,406,181

136,714

Marsh

&

McLennan

Cos.,

Inc.

25,363,181

191,924

MetLife,

Inc.

15,150,481

91,078,787

IT

Services

—

3.06%

85,000

Accenture

PLC,

Class

A

22,805,500

Sterling

Capital

Equity

Income

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

(continued)

Machinery

—

2.63%

42,158

Deere

&

Co.

$

19,627,500

Oil,

Gas

&

Consumable

Fuels

—

3.66%

1,038,045

Coterra

Energy,

Inc.

27,321,344

Pharmaceuticals

—

0.35%

12,679

Johnson

&

Johnson

2,623,919

Professional

Services

—

5.74%

109,031

Automatic

Data

Processing,

Inc.

28,046,044

174,418

Booz

Allen

Hamilton

Corp.

14,713,902

42,759,946

Semiconductors

&

Semiconductor

Equipment

—

4.42%

121,580

Analog

Devices,

Inc.

32,972,496

Software

—

4.62%

71,202

Microsoft

Corp.

34,434,711

Specialized

REITs

—

1.82%

482,767

VICI

Properties,

Inc.

13,575,408

Specialty

Retail

—

2.68%

58,010

Home

Depot,

Inc.

(The)

19,961,241

Tobacco

—

0.98%

126,690

Altria

Group,

Inc.

7,304,945

Trading

Companies

&

Distributors

—

3.53%

118,335

Exagen,

Inc.

26,344,921

Total

Common

Stocks

(Cost $522,075,016)

732,818,998

Shares

Fair

Value

MONEY

MARKET

FUNDS

—

0.49%

3,677,318

Federated

Hermes

Treasury

Obligations

Fund,

Institutional

Shares,

3.67%

(a) 3,677,318

Total

Money

Market

Funds

(Cost

$3,677,318)

3,677,318

Total

Investments—

98.78%

(Cost

$525,752,334)

736,496,316

Other

Assets

in

Excess

of

Liabilities

—

1.22%

9,132,867

NET

ASSETS

—

100.00%

$

745,629,183

(a) Represents

the

current

yield

as

of

report

date.

Sterling

Capital

Mid

Cap

Relative

Value

Fund

Schedule

of

Investments

December

31,

2025

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

96.92%

Aerospace

&

Defense

—

3.08%

2,900

Curtiss-Wright

Corp.

$

1,598,683

Automobile

Components

—

1.42%

5,987

Dorman

Products,

Inc.

(a) 737,539

Banks

—

7.32%

9,033

East

West

Bancorp,

Inc.

1,015,219

44,206

Huntington

Bancshares,

Inc.

766,974

6,877

UMB

Financial

Corp.

791,130

8,774

Wintrust

Financial

Corp.

1,226,780

3,800,103

Building

Products

—

2.15%

3,485

Carlisle

Cos.,

Inc.

1,114,712

Capital

Markets

—

2.26%

2,387

Ameriprise

Financial,

Inc.

1,170,442

Chemicals

—

0.94%

15,591

Avient

Corp.

487,063

Construction

&

Engineering

—

5.75%

13,751

MasTec,

Inc.

(a) 2,989,054

Consumer

Staples

Distribution

&

Retail

—

9.96%

13,487

BJ's

Wholesale

Club

Holdings,

Inc.

(a) 1,214,235

4,491

Casey's

General

Stores,

Inc.

2,482,221

16,384

Performance

Food

Group

Co.

(a) 1,473,249

5,169,705

Containers

&

Packaging

—

2.44%

6,974

Avery

Dennison

Corp.

1,268,431

Electrical

Equipment

—

2.81%

2,104

Powell

Industries,

Inc.

670,713

5,622

Regal

Rexnord

Corp.

788,879

1,459,592

Electronic

Equipment,

Instruments

&

Components

—

2.75%

7,546

Arrow

Electronics,

Inc.

(a) 831,419

4,357

CDW

Corp.

593,423

1,424,842

Entertainment

—

3.06%

6,192

Take-Two

Interactive

Software,

Inc.

(a) 1,585,338

Sterling

Capital

Mid

Cap

Relative

Value

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

(continued)

Financial

Services

—

1.13%

8,743

Fiserv,

Inc.

(a) $

587,267

Gas

Utilities

—

2.85%

18,462

Southwest

Gas

Corp.

1,477,329

Health

Care

REITs

—

1.90%

51,920

Sabra

Health

Care

REIT,

Inc.

983,365

Household

Durables

—

1.65%

7,294

PulteGroup,

Inc.

855,294

Industrial

REITs

—

2.31%

6,745

EastGroup

Properties,

Inc.

1,201,554

Insurance

—

6.08%

7,043

American

Financial

Group,

Inc.

962,637

14,767

First

American

Financial

Corp.

907,284

7,026

Hanover

Insurance

Group,

Inc.

(The)

1,284,143

3,154,064

Life

Sciences

Tools

&

Services

—

5.63%

5,297

ICON

PLC

(a) 965,219

8,548

Revvity,

Inc.

827,019

1,944

Thermo

Fisher

Scientific,

Inc.

1,126,451

2,918,689

Machinery

—

2.64%

10,909

Oshkosh

Corp.

1,370,498

Multi-Utilities

—

3.34%

41,480

Nisource,

Inc.

1,732,205

Oil,

Gas

&

Consumable

Fuels

—

4.93%

3,692

Gulport

Energy

Corp.

(a) 767,899

13,139

Matador

Resources

Co.

557,619

9,533

Phillips

1,230,139

2,555,657

Professional

Services

—

4.66%

4,535

CACI

International,

Inc.,

Class

A

(a) 2,416,293

Residential

REITs

—

1.78%

6,644

Mid-America

Apartment

Communities,

Inc.

922,918

Retail

REITs

—

1.49%

29,427

Brixmor

Property

Group,

Inc.

771,576

Sterling

Capital

Mid

Cap

Relative

Value

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

(continued)

Semiconductors

&

Semiconductor

Equipment

—

0.60%

4,942

Skyworks

Solutions,

Inc.

$

313,372

Software

—

4.86%

4,439

Commvault

Systems,

Inc.

(a) 556,473

6,611

PTC,

Inc.

(a) 1,151,702

9,431

Zoom

Video

Communications,

Inc.

(a) 813,801

2,521,976

Specialized

REITs

—

1.74%

5,846

Digital

Realty

Trust,

Inc.

904,435

Specialty

Retail

—

1.53%

4,459

Williams-Sonoma,

Inc.

796,333

Trading

Companies

&

Distributors

—

3.86%

2,474

United

Rentals,

Inc.

2,002,258

Total

Common

Stocks

(Cost $30,468,158)

50,290,587

Shares

Fair

Value

MONEY

MARKET

FUNDS

—

3.45%

1,788,310

Federated

Hermes

Treasury

Obligations

Fund,

Institutional

Shares,

3.67%

(b) 1,788,310

Total

Money

Market

Funds

(Cost

$1,788,310)

1,788,310

Total

Investments—

100.37%

(Cost

$32,256,468)

52,078,897

Liabilities

in

Excess

of

Other

Assets

—

(0.37)%

(193,836)

NET

ASSETS

—

100.00%

$

51,885,061

(a) Non-income

producing

security.

(b) Represents

the

current

yield

as

of

report

date.

Sterling

Capital

Real

Estate

Fund

Schedule

of

Investments

December

31,

2025

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

96.94%

Equity

Real

Estate

Investment

Trusts

(REITs)

—

2.16%

45,213

Essential

Properties

Realty

Trust,

Inc.

$

1,341,018

Health

Care

REITs

—

17.76%

88,889

Sabra

Health

Care

REIT,

Inc.

1,683,558

43,564

Ventas,

Inc.

3,370,982

32,099

Welltower,

Inc.

5,957,895

11,012,435

Hotel

&

Resort

REITs

—

2.29%

15,039

Ryman

Hospitality

Properties,

Inc.

1,422,990

Industrial

REITs

—

16.26%

10,896

EastGroup

Properties,

Inc.

1,941,013

29,538

First

Industrial

Realty

Trust,

Inc.

1,691,641

20,299

LXP

Industrial

Trust

1,006,424

29,451

Prologis,

Inc.

3,759,716

43,514

Rexford

Industrial

Realty,

Inc.

1,684,862

10,083,656

Office

REITs

—

3.85%

16,942

Boston

Properties,

Inc.

1,143,246

155,027

Brandywine

Realty

Trust

452,679

30,777

Highwoods

Properties,

Inc.

794,662

2,390,587

Residential

REITs

—

13.00%

7,875

Essex

Property

Trust,

Inc.

2,060,730

61,608

Invitation

Homes,

Inc.

1,712,086

13,900

Mid-America

Apartment

Communities,

Inc.

1,930,849

64,343

UDR,

Inc.

2,360,102

8,063,767

Retail

REITs

—

13.84%

68,865

Brixmor

Property

Group,

Inc.

1,805,640

34,392

InvenTrust

Properties

Corp.

(a) 970,198

83,700

Kite

Realty

Group

Trust

2,006,289

45,909

NetSTREIT

Corp.

(a) 809,835

60,417

Tanger

Factory

Outlet

Centers,

Inc.

2,016,116

52,661

The

Macerich

Co

972,122

8,580,200

Specialized

REITs

—

27.78%

27,079

American

Tower

Corp.,

Class

A

4,754,259

32,414

CubeSmart

1,168,525

Sterling

Capital

Real

Estate

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

(continued)

Specialized

REITs

—

(continued)

28,079

Digital

Realty

Trust,

Inc.

$

4,344,102

3,608

Equinix,

Inc.

2,764,305

15,996

Extra

Space

Storage,

Inc.

2,082,999

75,105

VICI

Properties,

Inc.

2,111,953

17,226,143

Total

Common

Stocks

(Cost $34,792,937)

60,120,796

Shares

Fair

Value

MONEY

MARKET

FUNDS

—

2.66%

1,651,024

Federated

Hermes

Treasury

Obligations

Fund,

Institutional

Shares,

3.67%

(b) 1,651,024

Total

Money

Market

Funds

(Cost

$1,651,024)

1,651,024

Total

Investments—

99.60%

(Cost

$36,443,961)

61,771,820

Other

Assets

in

Excess

of

Liabilities

—

0.40%

245,323

NET

ASSETS

—

100.00%

$

62,017,143

(a) Non-income

producing

security.

(b) Represents

the

current

yield

as

of

report

date.

Sterling

Capital

Small

Cap

Value

Fund

Schedule

of

Investments

December

31,

2025

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

99.45%

Aerospace

&

Defense

—

4.65%

31,496

Moog,

Inc.,

Class

A

$

7,670,851

Automobile

Components

—

3.85%

23,115

Dorman

Products,

Inc.

(a) 2,847,537

201,642

Garret

Motion,

Inc.

3,514,620

6,362,157

Banking

—

1.25%

26,950

Metropolitan

Bank

Holding

Corp.

2,057,902

Banks

—

17.13%

77,999

Columbia

Banking

System,

Inc.

2,180,072

62,824

Community

Bank

System,

Inc.

3,608,611

77,644

Glacier

Bancorp,

Inc.

3,420,218

105,172

Old

National

Bancorp

2,346,387

27,180

QCR

Holdings,

Inc.

2,264,094

51,970

Trustmark

Corp.

2,024,232

55,080

United

Bankshares,

Inc.

2,115,072

66,708

Webster

Financial

Corp.

4,198,602

43,620

Wintrust

Financial

Corp.

6,098,947

28,256,235

Capital

Markets

—

3.60%

20,574

Affiliated

Managers

Group,

Inc.

5,931,073

Chemicals

—

1.95%

102,656

Avient

Corp.

3,206,973

Construction

&

Engineering

—

4.19%

31,798

MasTec,

Inc.

(a) 6,911,931

Consumer

Staples

Distribution

&

Retail

—

9.18%

45,073

BJ's

Wholesale

Club

Holdings,

Inc.

(a) 4,057,922

11,426

Casey's

General

Stores,

Inc.

6,315,264

53,015

Performance

Food

Group

Co.

(a) 4,767,109

15,140,295

Electric

Utilities

—

2.23%

76,750

Portland

General

Electric

Co.

3,683,233

Electrical

Equipment

—

3.84%

43,090

EnerSys

6,323,458

Electronic

Equipment,

Instruments

&

Components

—

6.75%

47,532

Belden,

Inc.

5,539,854

41,636

Crane

NXT

Co.

1,959,807

41,370

Eplus,

Inc.

3,628,149

11,127,810

Energy

Equipment

&

Services

—

1.33%

208,380

Select

Energy

Services,

Inc.,

Class

A

2,192,158

Entertainment

—

2.37%

15,262

Take-Two

Interactive

Software,

Inc.

(a) 3,907,530

Sterling

Capital

Small

Cap

Value

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

(continued)

Gas

Utilities

—

2.46%

50,680

Southwest

Gas

Corp.

$

4,055,413

Household

Durables

—

2.15%

53,764

Meritage

Homes

Corp.

3,537,671

Industrial

REITs

—

3.11%

89,358

First

Industrial

Realty

Trust,

Inc.

5,117,532

Insurance

—

3.09%

15,931

Hanover

Insurance

Group,

Inc.

(The)

2,911,709

26,049

Selective

Insurance

Group,

Inc.

2,179,520

5,091,229

Life

Sciences

Tools

&

Services

—

2.15%

12,902

West

Pharmaceutical

Services,

Inc.

3,549,856

Machinery

—

6.72%

32,126

Crane

Co.

5,924,999

40,911

Oshkosh

Corp.

5,139,649

11,064,648

Office

REITs

—

1.18%

75,602

Highwoods

Properties,

Inc.

1,952,044

Oil,

Gas

&

Consumable

Fuels

—

2.92%

16,379

Chord

Energy

Corp.

1,518,333

39,891

Matador

Resources

Co.

1,692,974

74,772

Northern

Oil

and

Gas,

Inc.

1,605,355

4,816,662

Professional

Services

—

3.64%

11,266

CACI

International,

Inc.,

Class

A

(a) 6,002,637

Retail

REITs

—

1.58%

78,111

Tanger

Factory

Outlet

Centers,

Inc.

2,606,564

Semiconductors

&

Semiconductor

Equipment

—

2.71%

52,093

ON

Semiconductor

Corp.

(a) 2,820,836

19,476

Qorvo,

Inc.

(a) 1,645,917

4,466,753

Software

—

1.74%

16,472

PTC,

Inc.

(a) 2,869,587

Trading

Companies

&

Distributors

—

3.68%

10,381

Herc

Holdings,

Inc.

1,540,333

5,585

United

Rentals,

Inc.

4,520,052

6,060,385

Total

Common

Stocks

(Cost $51,193,925)

163,962,587

Sterling

Capital

Small

Cap

Value

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Shares

Fair

Value

MONEY

MARKET

FUNDS

—

0.83%

1,365,531

Federated

Hermes

Treasury

Obligations

Fund,

Institutional

Shares,

3.67%

(b) $

1,365,531

Total

Money

Market

Funds

(Cost

$1,365,531)

1,365,531

Total

Investments—

100.28%

(Cost

$52,559,456)

165,328,118

Liabilities

in

Excess

of

Other

Assets

—

(0.28)%

(461,809)

NET

ASSETS

—

100.00%

$

164,866,309

(a) Non-income

producing

security.

(b) Represents

the

current

yield

as

of

report

date.

Sterling

Capital

Ultra

Short

Bond

Fund

Schedule

of

Investments

December

31,

2025

(Unaudited)

+

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

37.00%

ASSET

MANAGEMENT

—

3.55%

$

250,000

Blackstone

Secured

Lending

Fund,

3.63%,

1/15/26

$

249,792

250,000

Hercules

Capital

Inc,

2.63%,

9/16/26

246,597

215,000

Blackstone

Private

Credit

Fund,

2.63%,

12/15/26

211,217

300,000

UBS

Group

AG,

1.31%,

2/02/27

(SOFRINDX

+

bps)

(a)(b) 299,090

1,006,696

AUTOMOTIVE

—

1.95%

250,000

Ford

Motor

Credit

Co

LLC,

6.95%,

3/06/26

250,564

300,000

Hyundai

Capital

America,

5.50%,

3/30/26

(a) 300,968

551,532

BANKING

—

3.19%

250,000

Credit

Agricole

SA,

1.25%,

1/26/27

(a) 249,475

400,000

Bank

of

America

Corp,

1.73%,

7/22/27

(SOFRRATE

+

bps)

(b) 394,898

260,000

JPMorgan

Chase

&

Co.,

4.57%,

10/22/28

(SOFR

+86

bps)

(b) 261,286

905,659

BANKS

—

0.88%

250,000

Australia

&

New

Zealand

Banking

Group

Ltd.,

4.40%,

5/19/26

(a) 250,262

BEVERAGES

—

0.87%

250,000

Bacardi

Ltd.,

2.75%,

7/15/26

(a) 247,906

CAPITAL

MARKETS

—

1.05%

300,000

Blue

Owl

Capital

Corp.,

3.40%,

7/15/26

297,928

ELECTRIC

UTILITIES

—

0.28%

78,000

Vistra

Operations

Co.

LLC,

5.05%,

12/30/26

(a) 78,556

HEALTH

CARE

FACILITIES

&

SERVICES

—

1.82%

300,000

HCA

Inc.,

5.25%,

6/15/26

300,233

215,000

IQVIA,

Inc.,

5.00%,

10/15/26

(a) 214,878

515,111

INSTITUTIONAL

FINANCIAL

SERVICES

—

0.89%

250,000

Jefferies

Financial

Group

Inc,

4.85%,

1/15/27

251,654

INSURANCE

—

4.35%

250,000

Reliance

Standard

Life

Global

Funding

II,

5.24%,

2/02/26

(a) 250,140

190,000

Brighthouse

Financial

Global

Funding,

1.55%,

5/24/26

(a) 187,949

250,000

F&G

Global

Funding,

1.75%,

6/30/26

(a) 246,911

Sterling

Capital

Ultra

Short

Bond

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

INSURANCE

—

(continued)

$

300,000

Athene

Global

Funding,

5.08%,

8/27/26

(SOFRIX

+

bps)

(a)(b) $

301,012

250,000

Marsh

&

McLennan

Cos,

Inc.,

4.41%,

11/08/27

(SOFR

+

bps)

(b) 251,458

1,237,470

LEISURE

FACILITIES

&

SERVICES

—

0.25%

71,000

MGM

Resorts

International,

5.50%,

4/15/27

71,632

LEISURE

PRODUCTS

—

0.70%

200,000

Mattel

Inc,

5.88%,

12/15/27

(a) 200,042

MACHINERY

—

0.88%

250,000

Regal

Rexnord

Corp.,

6.05%,

2/15/26

250,479

MORTGAGE

REAL

ESTATE

INVESTMENT

-TRUSTS

(REITS)

—

0.79%

225,000

Starwood

Property

Trust,

Inc.,

3.63%,

7/15/26

(a) 223,898

OIL

&

GAS

PRODUCERS

—

5.99%

300,000

MPLX

LP,

Class

B,

1.75%,

3/01/26

298,817

80,000

Sabine

Pass

Liquefaction

LLC,

5.88%,

6/30/26

80,113

300,000

ONEOK

Inc,

5.55%,

11/01/26

303,230

250,000

Hess

Midstream

Operations

LP,

5.88%,

3/01/28

(a) 254,694

200,000

Civitas

Resources

Inc,

8.38%,

7/01/28

(a) 206,079

275,000

Antero

Resources

Corp,

7.63%,

2/01/29

(a) 279,099

275,000

Expand

Energy

Corp,

6.75%,

4/15/29

(a) 276,611

1,698,643

REIT

—

3.00%

102,000

Vornado

Realty

LP,

2.15%,

6/01/26

100,876

300,000

Tanger

Properties

LP,

3.13%,

9/01/26

297,771

250,000

VICI

Properties

LP

/

VICI

Note

Co.,

Inc.,

4.25%,

12/01/26

(a) 249,958

207,000

Global

Net

Lease

Operating

Partnership

LP,

3.75%,

12/15/27

(a) 201,556

850,161

SOFTWARE

—

0.89%

250,000

Concentrix

Corp.,

6.65%,

8/02/26

252,426

SPECIALTY

FINANCE

—

3.60%

240,000

Air

Lease

Corp.,

2.88%,

1/15/26

239,871

285,000

AerCap

Ireland

Capital

DAC,

1.75%,

1/30/26

284,505

250,000

Aircastle

Ltd.,

4.25%,

6/15/26

249,987

250,000

Ladder

Capital

Finance

Holdings

LLLP,

4.25%,

2/01/27

(a) 248,332

Sterling

Capital

Ultra

Short

Bond

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

SPECIALTY

FINANCE

—

(continued)

$

1,022,695

TRANSPORTATION

&

LOGISTICS

—

1.11%

$

148,000

United

Airlines,

Inc.,

4.38%,

4/15/26

(a) 147,815

166,667

American

Airlines

Inc/AAdvantage

Loyalty

IP

Ltd,

5.50%,

4/20/26

(a) 166,904

314,719

TRANSPORTATION

EQUIPMENT

—

0.96%

271,000

Daimler

Truck

Finance

North

America

LLC,

5.19%,

9/25/27

(O/N

SOFR

+

bps)

(a)(b) 271,783

Total

(Cost $10,473,650)

10,499,252

Principal

Amount

Fair

Value

ASSET

BACKED

SECURITIES

—

42.99%

4,521

Fannie

Mae,

Series

,

Class

BH,

2.50%,

1/25/27

4,503

42,191

Mercedes-Benz

Auto

Lease

Trust,

Series

2024-A

,

Class

A2B,

4.40%,

2/16/27

(SOFR30A

+

bps)

(b) 42,197

125,000

Avis

Budget

Rental

Car

Funding

AESOP

LLC,

Series

2A

,

Class

A,

2.02%,

2/20/27

(a) 124,746

200,000

Ford

Credit

Floorplan

Master

Owner

Trust,

Series

,

Class

A2,

4.73%,

4/15/27

(SOFR30A

+

bps)

(a)(b) 200,376

GM

Financial

Consumer

Automobile

Receivables,

Series

,

Class

A3,

3.64%,

4/16/27

150,000

Hertz

Vehicle

Financing

LLC,

Series

1A

,

Class

A,

5.49%,

6/25/27

(a) 150,487

55,611

Carmax

Select

Receivables

Trust,

Series

2024-A

,

Class

A2A,

5.78%,

9/15/27

55,715

144,273

Bridgecrest

Lending

Auto

Sec.

Trust,

Series

2025-2

,

Class

A2,

4.84%,

1/18/28

144,514

50,000

Carmax

Auto

Owner

Trust

2022-3,

Series

,

Class

A4,

4.06%,

2/15/28

50,019

20,934

World

Omni

Select

Auto

Trust,

Series

2024-A

,

Class

A2A,

5.37%,

2/15/28

20,947

104,669

World

Omni

Auto

Receivables

Trust,

Series

2022-D

,

Class

A3,

5.61%,

2/15/28

105,090

300,000

PFS

Financing

Corp.,

Series

C

,

Class

A,

4.78%,

4/17/28

(a)(c) 300,205

230,000

Ally

Auto

Receivables

Trust,

Series

2022-2

,

Class

A4,

4.87%,

4/17/28

230,725

165,000

Avis

Budget

Rental

Car

Funding

AESOP

LLC.,

Series

5A

,

Class

A,

5.78%,

4/20/28

(a) 167,867

250,000

PFS

Financing

Corp.,

Series

B

,

Class

B,

5.71%,

5/15/28

(a) 251,097

200,000

Hertz

Vehicle

Financing

LLC,

Series

2A

,

Class

A,

2.33%,

6/26/28

(a) 195,346

Sterling

Capital

Ultra

Short

Bond

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

ASSET

BACKED

SECURITIES

—

(continued)

$

30,831

Santander

Drive

Auto

Receivables

Trust,

Series

,

Class

B,

5.61%,

7/17/28

$

30,936

160,000

Gracie

Point

International

Funding

2025-1

LLC,

Series

1A

,

Class

B,

6.03%,

8/15/28

(SOFR30A

+

bps)

(a) 160,007

115,000

Santander

Drive

Auto

Receivables

Trust,

Series

2023-4

,

Class

B,

5.77%,

12/15/28

116,102

250,000

Bridgecrest

Lending

Auto

Securitization

Trust,

Series

,

Class

A3,

4.83%,

1/15/29

251,061

77,000

GreatAmerica

Leasing

Receivables

Funding

LLC,

Series

,

Class

A4,

5.06%,

3/15/30

(a) 78,104

106,798

Affirm

Asset

Securitization

Trust,

Series

2025-X1

,

Class

A,

5.08%,

4/15/30

(a) 106,954

285,500

Affirm

Asset

Securitization

Trust

2025-X2

,

4.45%,

10/15/30

(a) 285,772

250,000

Dryden

CLO

Ltd.,

Series

53A

,

Class

BR,

5.21%,

1/15/31

(a)(c) 250,025

110,380

KKR

CLO

Ltd.,

Series

,

Class

A,

5.17%,

4/15/31

(TSFR3M

+

126.20 bps)

(a) 110,440

136,193

Dryden

Senior

Loan

Fund,

Series

40A

,

Class

AR2,

5.00%,

8/15/31

(a) 136,269

300,000

Affirm

Master

Trust,

Series

1A

,

Class

A,

4.99%,

2/15/33

(a) 302,985

300,000

Fortress

Credit

BSL

IX

Ltd,

Series

1A

,

Class

A1AR,

5.03%,

10/20/33

(a) 300,119

300,000

Thompson

Park

CLO

Ltd,

Series

1A

,

Class

A1R,

4.96%,

4/15/34

(a) 299,921

250,000

Neuberger

Berman

Loan

Advisers

CLO

Ltd.,

Series

41A

,

Class

AR,

4.96%,

4/15/34

(TSFR3M

+

bps)

(a) (b)(c) 249,930

263,000

ARES

XLIV

CLO

Ltd,

Series

44A

,

Class

A1RR,

5.04%,

4/15/34

(TSFR3M

+

bps)

(a)(b)(c)

263,224

285,000

Fort

Greene

Park

CLO

LLC,

Series

2A

,

Class

AR,

4.81%,

4/22/34

(TSFR3M

+

bps)

(a) 285,063

114,152

OneMain

Financial

Issuance

Trust,

Series

3A

,

Class

A,

5.94%,

5/15/34

(a) 114,562

151,742

SoFi

Consumer

Loan

Program

Trust,

Series

2025-2

,

Class

A,

4.82%,

6/25/34

(a) 152,617

250,000

Magnetite

XXXI

Ltd.,

Series

31A

,

Class

A1R,

–%,

7/15/34

(a) 249,993

292,000

RR

17,

Ltd.,

Series

17A

,

Class

A1AR,

4.98%,

7/15/34

(a) 292,117

250,000

Magnetite

XXXI

Ltd.

,

Class

A1,

5.27%,

7/15/34

(a) 250,035

250,000

Sculptor

CLO

XXVII

Ltd,

Series

27A

,

Class

A1R,

4.94%,

7/20/34

(a) 249,980

275,000

Trinitas

CLO

XVI

Ltd,

Series

16A

,

Class

A1R,

5.01%,

7/20/34

(TSFR3M

+

113BPS)

(a) 275,066

Sterling

Capital

Ultra

Short

Bond

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

ASSET

BACKED

SECURITIES

—

(continued)

$

265,000

LCM

Ltd,

Series

33A

,

Class

AR,

5.06%,

7/20/34

(TSFR3M

+

118.00 bps)

(a)(b)(c)

$

265,390

250,000

Allegany

Park

CLO

Ltd,

Series

1A

,

Class

ARR,

4.98%,

1/20/35

(TSFR3M

+

bps)

(a) 250,003

243,455

SoFi

Consumer

Loan

Program

2025-4

Trust,

Series

,

Class

A,

4.24%,

8/25/35

(a) 243,712

231,299

Chesapeake

Funding

II

LLC,

Series

1A

,

Class

A1,

5.52%,

5/15/36

(a) 234,043

100,000

OneMain

Financial

Issuance

Trust,

Series

2021-1

,

Class

A2,

4.74%,

6/16/36

(SOFR30A

+

bps)

(a)(b) 100,116

164,104

Fannie

Mae

,

6.27%,

7/01/36

(H15T1Y

+

219.40 bps)

(b) 168,816

250,000

OneMain

Financial

Issuance

Trust

2023-2,

Series

2A

,

Class

A2,

5.48%,

9/15/36

(SOFR30A

+

bps)

(a) 252,152

100,000

BX

2021-LBA3

Mortgage

Trust,

Series

PAC

,

Class

A,

4.55%,

10/15/36

(a) 99,688

198,759

SMB

Private

Education

Loan

Trust,

Series

B

,

Class

A2B,

4.87%,

6/15/37

(a) 198,863

133,054

Sierra

Timeshare

Rec

Funding

LLC,

Series

2021-1

,

Class

A,

0.99%,

11/20/37

(a) 132,794

33,015

MVW

2019-2

LLC,

Series

2A

,

Class

A,

2.22%,

10/20/38

(a) 32,974

428,309

BX

Commercial

Mortgage

Trust

2021-ACNT

,

4.71%,

11/15/38

(a) 428,051

316,672

BX

Commercial

Mortgage

Trust

2021-CIP

,

4.79%,

12/15/38

(a) 316,717

214,696

Wheels

Fleet

Lease

Funding

LLC,

Series

1A

,

Class

A2,

4.56%,

2/18/39

(TSFR1M

+

bps)

(a)(b) 215,252

293,642

MVW

2023-1,

LLC.,

Series

1A

,

Class

A,

4.93%,

10/20/40

(a) 296,978

366,501

Tricon

Residential

Trust,

Series

2025-SFR

,

Class

A,

5.06%,

3/17/42

(TSFR1M

+

bps)

(a)(b) 366,792

381,816

Freddie

Mac

REMICS,

Series

4571

,

Class

CA,

2.50%,

4/15/43

374,864

400,000

Vantage

Data

Centers

LLC,

Series

2A

,

Class

A2,

1.99%,

9/15/45

(a) 380,841

153,000

Stack

Infrastructure

Issuer

LLC,

Series

1A

,

Class

A2,

1.88%,

3/26/46

(a) 151,876

320,000

Stack

Infrastructure

Issuer

LLC,

Series

3A

,

Class

A2,

5.90%,

10/25/48

(a) 322,723

271,357

SMB

Private

Education

Loan

Trust,

Series

2024-C

,

Class

A1B,

5.07%,

6/17/52

(SOFR30A

+

bps)

(a)(b) 270,894

241,016

Nelnet

Student

Loan

Trust,

Series

2025-A

,

Class

A1B,

5.24%,

3/15/57

(a) 240,117

Total

(Cost $12,173,846)

12,199,053

Sterling

Capital

Ultra

Short

Bond

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

COLLATERALIZED

MORTGAGE

OBLIGATIONS

—

7.72%

$

67,794

Bridgecrest

Lending

Auto

Sec.

Trust,

Series

2025-1,

Class

A2,

5.01%,

9/15/27

$

67,819

92,828

MMAF

Equipment

Finance

LLC,

Series

2022-A,

Class

A3,

3.20%,

1/13/28

(a) 92,705

250,000

Palmer

Square

Loan

Funding

2022-3

Ltd,

Series

3A,

Class

A1BR,

5.31%,

4/15/31

(TSFR3M

+

140BPS)

(a) 250,613

250,000

Riserva

Clo

Ltd.,

Series

3A,

Class

AR3,

–%,

1/18/34

(a) 250,043

135,788

SoFi

Consumer

Loan

Program

Trust,

Series

2025-1,

Class

A,

4.80%,

2/27/34

(a) 136,284

325,000

Barings

CLO

Ltd

2021-II,

Series

2A,

Class

A1R,

4.98%,

7/15/34

(a) 325,103

275,000

Madison

Park

Funding

XLV

Ltd,

Series

45A,

Class

ARR,

4.99%,

7/15/34

(TSFR3M

+

108BPS)

(a) 275,043

210,000

Point

Au

Roche

Park

CLO

Ltd,

Series

1A,

Class

A,

5.23%,

7/20/34

((TSFR3M

+

26.20BPS)

+

108BPS)

(a)(b) 210,416

202,924

Freddie

Mac

REMICS,

Series

4838,

Class

VA,

4.00%,

3/15/36

202,806

100,000

Neuberger

Berman

Loan

Advisers

CLO

Ltd.,

4.97%,

10/14/36

(a) 99,940

114,592

Hilton

Grand

Vacations

Trust,

Series

2023-1,

Class

A,

5.72%,

1/25/38

(a) 117,237

165,014

Freddie

Mac

REMICS,

Series

5216,

Class

JA,

3.25%,

5/25/38

164,041

Total

(Cost $2,186,548)

2,192,050

Principal

Amount

Fair

Value

COMMERCIAL

MORTGAGE-BACKED

SECURITIES

—

11.26%

286,490

BX

Trust,

Series

2021-BXMF,

Class

A,

4.50%,

10/15/26

(TSFR1M

+

75.00 bps)

(a)(b) 286,061

338,132

BX

Trust,

Series

2021-RISE,

Class

A,

4.61%,

11/15/36

(TSFR1M

+

86.20 bps)

(a)(b) 337,819

220,791

BX

Commercial

Mortgage

Trust,

Series

2021-CIP,

Class

B,

5.14%,

12/15/38

(a) 220,572

71,521

Citigroup

Commercial

Mortgage

Trust,

Series

P3,

Class

A3,

3.06%,

4/15/49

71,395

332,000

Citigroup

Commercial

Mortgage

Trust,

Series

2016-C1,

3.21%,

5/10/49

330,711

350,000

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust,

Series

C29,

Class

A4,

3.33%,

5/15/49

348,132

390,000

Morgan

Stanley

Capital

I

Trust,

Series

BNK2,

Class

A4,

3.05%,

11/15/49

382,662

340,000

CSAIL

Commercial

Mortgage

Trust,

Series

2015-C7,

Class

A5,

3.50%,

11/15/49

337,496

200,000

JPMCC

Commercial

Mortgage

Securities

Trust,

Series

JP5,

Class

A5,

3.72%,

3/15/50

198,831

380,000

COMM

Mortgage

Trust,

Series

COR2,

Class

A3,

3.51%,

9/10/50

375,013

Sterling

Capital

Ultra

Short

Bond

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

COMMERCIAL

MORTGAGE-BACKED

SECURITIES

—

(continued)

$

133,000

Wells

Fargo

Commercial

Mortgage

Trust

2017-C40,

Series

C40,

Class

A3,

3.32%,

10/15/50

$

131,362

95,000

CFCRE

Commercial

Mortgage

Trust,

Series

C7,

Class

A3,

3.84%,

12/10/54

94,385

80,503

CFCRE

Commercial

Mortgage

Trust

2016-C4,

Series

C4,

Class

A4,

3.28%,

5/10/58

80,383

Total

(Cost $3,150,165)

3,194,822

Shares

Fair

Value

MONEY

MARKET

FUNDS

—

1.20%

339,749

Federated

Hermes

Treasury

Obligations

Fund,

Institutional

Shares,

3.67%

(d) 339,749

Total

Money

Market

Funds

(Cost

$339,749)

339,749

Total

Investments—

100.22%

(Cost

$28,338,958)

28,439,926

Liabilities

in

Excess

of

Other

Assets

—

(0.22)%

(61,505)

NET

ASSETS

—

100.00%

28,378,421

(a) Security

exempt

from

registration

under

Rule

144A

or

Section

4(2)

of

the

Securities

Act

of

1933. The

security

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

The

Advisor,

using

Board

approved

procedures,

has

deemed

these

securities

or

a

portion

of

these

securities

to

be

liquid.

(b) The

interest

rate

for

this

variable

rate

note,

which

will

change

periodically,

is

based

either

on

the

prime

rate

or

an

index

of

market

rates.

The

reflected

rate

is

in

effect

as

of

December

31,

2025. The

maturity

date

reflected

is

the

final

maturity

date.

(c) All

or

a

portion

of

the

securities

are

held

in

a

separate

collateral

account

as

US

Bank.

The

total

value

of

securities

held

in

a

separate

collateral

account

as

of

the

period

ended

December

31,

2025

is

$620,269,

which

represents

2.2%

of

net

assets.

(d) Security

is

a

fix-to-float

security,

which

carries

a

fixed

coupon

until

a

certain

date,

upon

which

it

switches

to

a

floating

rate.

Rate

shown

is

the

fixed

rate.

(e) Represents

the

current

yield

as

of

report

date.

Sterling

Capital

Short

Duration

Bond

Fund

Schedule

of

Investments

December

31,

2025

(Unaudited)

Shares

Fair

Value

PREFERRED

STOCKS

—

0.49%

Insurance

—

0.49%

$

7,700

Reinsurance

Group

of

America,

Inc.,

5.97%

(a) $

191,114

Total

Preferred

Stocks

(Cost $192,885)

191,114

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

53.26%

AEROSPACE

&

DEFENSE

—

2.27%

365,000

Boeing

Co.

(The),

6.26%,

5/01/27

374,497

250,000

Howmet

Aerospace,

Inc.,

6.75%,

1/15/28

263,133

253,000

Lockheed

Martin

Corp,

4.15%,

8/15/28

254,611

892,241

ASSET

MANAGEMENT

—

4.25%

371,000

Blackstone

Private

Credit

Fund,

3.25%,

3/15/27

364,630

268,000

Blue

Owl

Technology

Finance

Corp.,

6.10%,

3/15/28

(b) 269,593

157,000

Golub

Capital

Private

Credit

Fund,

5.45%,

8/15/28

(b) 157,977

139,000

Ares

Strategic

Income

Fund,

5.45%,

9/09/28

(b) 140,162

150,000

FS

KKR

Capital

Corp,

3.13%,

10/12/28

138,414

300,000

Ares

Strategic

Income

Fund,

4.85%,

1/15/29

(b) 296,477

300,000

UBS

Group

AG,

4.15%,

12/23/29

(SOFRRATE

+

bps)

(b) 299,691

1,666,944

AUTOMOTIVE

—

0.58%

225,000

Ford

Motor

Credit

Co.

LLC,

5.80%,

3/05/27

227,802

BANKING

—

5.01%

325,000

Nordea

Bank

Abp,

4.38%,

3/17/28

(b) 328,447

325,000

Citigroup

Inc.,

5.06%,

5/07/28

(SOFRRATE

+

114.30 bps)

327,638

250,000

Manufacturers

&

Traders

Trust

Co,

4.76%,

7/06/28

252,270

200,000

Standard

Chartered

PLC,

5.55%,

1/21/29

(H15T1Y

+

bps)

(b)(c) 205,216

450,000

Bank

of

America

Corp.,

4.98%,

1/24/29

(SOFRRATE

+

bps)

(c) 458,421

375,000

Wells

Fargo

&

Co,

6.30%,

10/23/29

(SOFRRATE

+

bps)

(c) 396,222

1,968,214

BANKS

—

3.83%

295,000

Morgan

Stanley,

5.65%,

4/13/28

300,809

497,000

JPMorgan

Chase

&

Co.,

5.57%,

4/22/28

506,886

350,000

Bank

of

Nova

Scotia

(The),

4.40%,

9/08/28

(SOFR

+

bps)

(c) 351,791

Sterling

Capital

Short

Duration

Bond

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

BANKS

—

(continued)

$

339,000

Barclays

PLC,

4.84%,

9/10/28

(SOFR

+

bps)

(c) $

342,977

1,502,463

BIOTECH

&

PHARMA

—

1.36%

247,000

Eli

Lilly

&

Co.,

4.55%,

2/12/28

251,214

281,000

Zoetis,

Inc.,

4.15%,

8/17/28

282,511

533,725

CAPITAL

MARKETS

—

1.04%

400,000

Blackstone

Secured

Lending

Fund,

5.88%,

11/15/27

408,358

CHEMICALS

—

0.22%

85,000

Ecolab

Inc.,

4.30%,

6/15/28

85,890

COMMERCIAL

SUPPORT

SERVICES

—

0.05%

18,000

Prime

Security

Services

Borrower

LLC,

5.75%,

4/15/26

(b) 18,006

ELECTRIC

UTILITIES

—

3.62%

400,000

FirstEnergy

Corp.,

3.90%,

7/15/27

398,404

184,000

NextEra

Energy

Capital

Holdings

Inc,

4.69%,

9/01/27

186,186

350,000

Entergy

Louisiana

LLC,

3.25%,

4/01/28

345,181

281,000

Dominion

Energy

Inc.,

4.60%,

5/15/28

284,280

100,000

Georgia

Power

Co,

4.00%,

10/01/28

100,553

106,000

Vistra

Operations

Co

LLC,

4.30%,

10/15/28

(b) 106,082

1,420,686

ELECTRICAL

EQUIPMENT

—

0.76%

300,000

Amphenol

Corp,

3.80%,

11/15/27

299,599

FOOD

—

0.88%

337,000

Mars,

Inc.,

4.60%,

3/01/28

(b) 341,617

FORESTRY,

PAPER

&

WOOD

PRODUCTS

—

0.21%

85,000

Georgia-Pacific

LLC,

4.40%,

6/30/28

(b) 86,008

HOME

CONSTRUCTION

—

0.86%

335,000

Meritage

Homes

Corp.,

5.13%,

6/06/27

337,268

INSTITUTIONAL

FINANCIAL

SERVICES

—

0.76%

70,000

LPL

Holdings,

Inc.,

5.70%,

5/20/27

71,341

228,000

Morgan

Stanley,

4.13%,

10/18/29

227,927

299,268

INSURANCE

—

5.80%

400,000

F&G

Global

Funding,

5.88%,

6/10/27

(b) 408,377

425,000

Athene

Global

Funding,

5.35%,

7/09/27

(b) 432,002

Sterling

Capital

Short

Duration

Bond

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

INSURANCE

—

(continued)

$

345,000

GA

Global

Funding

Trust,

4.40%,

9/23/27

(b) $

346,281

96,000

Sammons

Financial

Group

Global

Funding,

5.05%,

1/10/28

(b) 97,491

162,000

Corebridge

Global

Funding,

4.25%,

8/21/28

(b) 162,413

415,000

RGA

Global

Funding,

4.35%,

8/25/28

(b) 416,756

280,000

SBL

Holdings

Inc,

5.90%,

9/26/28

(b) 278,516

140,000

American

National

Global

Funding,

4.63%,

12/15/28

(b) 140,578

2,282,414

INTERNET

MEDIA

&

SERVICES

—

0.19%

75,000

Alphabet,

Inc.,

3.88%,

11/15/28

75,366

LEISURE

FACILITIES

&

SERVICES

—

1.01%

99,000

MGM

Resorts

International,

5.50%,

4/15/27

99,881

292,000

Starbucks

Corp,

4.50%,

5/15/28

294,891

394,772

LEISURE

PRODUCTS

—

0.74%

300,000

Mattel

Inc,

3.75%,

4/01/29

(b) 292,400

MACHINERY

—

0.63%

246,000

John

Deere

Capital

Corp,

4.25%,

6/05/28

248,832

MEDICAL

EQUIPMENT

&

DEVICES

—

0.29%

115,000

GE

HealthCare

Technologies,

Inc.,

4.15%,

12/15/28

115,317

MORTGAGE

REAL

ESTATE

INVESTMENT

-TRUSTS

(REITS)

—

1.24%

489,000

Starwood

Property

Trust,

Inc.,

3.63%,

7/15/26

(b) 486,605

MULTI-UTILITIES

—

0.97%

390,000

Ameren

Corp.,

1.95%,

3/15/27

380,663

OIL

&

GAS

PRODUCERS

—

4.87%

333,000

Permian

Resources

Operating

LLC,

8.00%,

4/15/27

(b) 337,349

340,000

APA

Corp,

4.88%,

11/15/27

(b) 342,904

275,000

ONEOK

Inc.,

5.63%,

1/15/28

(b) 280,560

327,000

Woodside

Finance

Ltd.,

4.90%,

5/19/28

331,615

198,000

Civitas

Resources

Inc,

8.38%,

7/01/28

(b) 204,018

105,000

Targa

Resources

Corp.,

4.35%,

1/15/29

105,292

300,000

Hess

Midstream

Operations

LP,

6.50%,

6/01/29

(b) 309,810

1,911,548

REIT

—

1.15%

73,000

Store

Capital

LLC.,

4.50%,

3/15/28

73,223

64,000

LXP

Industrial

Trust,

6.75%,

11/15/28

67,917

Sterling

Capital

Short

Duration

Bond

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

REIT

—

(continued)

$

325,000

CubeSmart

LP,

2.25%,

12/15/28

$

308,340

449,480

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

—

0.57%

220,000

Broadcom,

Inc.,

5.05%,

7/12/27

223,924

SOFTWARE

—

0.81%

312,000

Synopsys,

Inc.,

4.65%,

4/01/28

316,205

SPECIALTY

FINANCE

—

2.79%

325,000

Ladder

Capital

Finance

Holdings

LLLP,

4.25%,

2/01/27

(b) 322,831

113,000

Avolon

Holdings

Funding

Ltd.,

4.95%,

1/15/28

(b) 114,325

251,000

OneMain

Finance

Corp.,

3.88%,

9/15/28

244,631

425,000

AerCap

Ireland

Capital

DAC,

3.00%,

10/29/28

412,033

1,093,820

STEEL

—

0.19%

73,000

Steel

Dynamics,

Inc.,

4.00%,

12/15/28

72,916

TECHNOLOGY

HARDWARE

—

2.30%

300,000

Hewlett

Packard

Enterprise

Co,

4.05%,

9/15/27

300,037

300,000

Motorola

Solutions

Inc.,

4.60%,

2/23/28

303,022

300,000

Dell

International

LLC

/

EMC

Corp,

4.15%,

2/15/29

(d) 299,675

902,734

TECHNOLOGY

SERVICES

—

0.75%

292,000

Fiserv,

Inc.,

5.15%,

3/15/27

295,059

TELECOMMUNICATIONS

—

1.35%

204,750

Sprint

Spectrum

Co.

LLC

/

Sprint

Spectrum

Co.

II

LLC,

5.15%,

3/20/28

(b) 206,503

300,000

Sprint

Capital

Corporation,

6.88%,

11/15/28

322,135

528,638

TOBACCO

&

CANNABIS

—

0.75%

295,000

Philip

Morris

International

Inc.,

4.13%,

4/28/28

296,311

TRANSPORTATION

&

LOGISTICS

—

1.16%

150,000

Delta

Air

Lines

Inc.,

4.95%,

7/10/28

152,697

300,000

Delta

Air

Lines,

Inc.

/

SkyMiles

IP

Ltd.,

4.75%,

10/20/28

(b) 301,822

454,519

Total

(Cost $20,690,673)

20,909,612

Sterling

Capital

Short

Duration

Bond

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

ASSET

BACKED

SECURITIES

—

31.48%

$

208,868

Americredit

Automobile

Receivables

Trust,

Series

,

Class

C,

2.98%,

9/20/27

$

207,888

545,000

AmeriCredit

Automobile

Receivables

Trust,

Series

,

Class

C,

5.32%,

4/18/28

548,161

200,000

BANK5

Trust,

Series

2024-5YR5

,

6.27%,

2/15/29

208,591

500,000

PFS

Financing

Corp.,

Series

D

,

Class

A,

5.34%,

4/16/29

(b) 508,684

220,000

Avis

Budget

Rental

Car

Funding

AESOP

LLC,

Series

1A

,

Class

A,

4.80%,

8/20/29

(b) 223,445

392,000

OneMain

Direct

Auto

Receivables

Trust,

Series

1A

,

Class

A,

5.41%,

11/14/29

(b) 394,957

300,000

Avis

Budget

Rental

Car

Funding

AESOP

LLC,

Series

3A

,

Class

A,

4.17%,

2/20/30

(b) 299,675

500,000

Hertz

Vehicle

Financing

III

LLC,

Series

4A

,

Class

A,

6.15%,

3/25/30

(b) 523,383

270,000

PenFed

Auto

Receivables

Owner

Trust

2025-A,

Series

A

,

Class

A3,

4.03%,

7/15/30

(b) 270,660

550,000

Dryden

CLO

Ltd.,

Series

53A

,

Class

BR,

5.21%,

1/15/31

(b)(e) 550,055

450,000

Santander

Drive

Auto

Receivables

Trust,

Series

2025-2

,

4.87%,

5/15/31

454,848

136,082

ARI

Fleet

Lease

Trust,

Series

B

,

Class

A2,

6.05%,

7/15/32

(b) 137,122

424,000

Affirm

Master

Trust,

Series

1A

,

Class

A,

4.99%,

2/15/33

(b) 428,219

400,000

Fortress

Credit

BSL

IX

Ltd,

Series

1A

,

Class

A1AR,

5.03%,

10/20/33

(b) 400,160

414,000

Neuberger

Berman

Loan

Advisers

CLO

Ltd.,

Series

41A

,

Class

AR,

4.96%,

4/15/34

(TSFR3M

+

bps)

(b) (c)(e) 413,884

420,000

ARES

XLIV

CLO

Ltd,

Series

44A

,

Class

A1RR,

5.04%,

4/15/34

(TSFR3M

+

bps)

(b)(c)(e)

420,357

275,000

Magnetite

XXXI

Ltd.,

Series

31A

,

Class

A1R,

–%,

7/15/34

(b) 274,992

275,000

Magnetite

XXXI

Ltd.

,

Class

A1,

5.27%,

7/15/34

(b) 275,039

417,000

LCM

Ltd,

Series

33A

,

Class

AR,

5.06%,

7/20/34

(TSFR3M

+

118.00 bps)

(b)(c)(e)

417,613

331,000

Affirm

Master

Trust

Series

2025-3,

Series

3A

,

Class

A,

4.45%,

10/16/34

(b) 332,037

369,000

Allegany

Park

CLO

Ltd,

Series

1A

,

Class

ARR,

4.98%,

1/20/35

(TSFR3M

+

bps)

(b) 369,004

270,501

Fannie

Mae

,

6.27%,

7/01/36

(H15T1Y

+

219.40 bps)

(c) 278,268

364,337

BX

Trust,

Series

2021-RISE

,

Class

C,

5.31%,

11/15/36

(b) 364,000

500,000

Wheels

Fleet

Lease

Funding

LLC,

Series

2A

,

Class

A1,

4.41%,

5/18/40

(b) 503,969

Sterling

Capital

Short

Duration

Bond

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

ASSET

BACKED

SECURITIES

—

(continued)

$

274,957

Hilton

Grand

Vacations

Trust,

Series

2024-3A

,

Class

A,

4.98%,

8/27/40

(b) $

278,139

217,970

Sierra

Timeshare

Receivables

Funding

LLC,

Series

2024-2A

,

Class

A,

5.14%,

6/20/41

(b) 221,358

118,212

Sierra

Timeshare

Receivables

Funding

LLC,

Series

3A

,

Class

A,

4.83%,

8/20/41

(b) 119,240

525,417

Tricon

Residential

Trust,

Series

2025-SFR

,

Class

A,

5.06%,

3/17/42

(TSFR1M

+

bps)

(b)(c) 525,834

389,778

MVW

LLC,

Series

2024-2

,

Class

A,

4.43%,

3/20/42

(b) 390,454

269,678

HINNT

LLC,

Series

2025-A

,

Class

A,

5.01%,

3/15/44

(b) 273,035

350,000

Retained

Vantage

Data

Centers

Issuer

LLC,

Series

1A

,

Class

A2A,

5.00%,

9/15/48

(b) 348,908

357,000

Morgan

Stanley

Bank

of

America,

Series

C31

,

Class

A5,

3.10%,

11/15/49

352,634

367,686

SMB

Private

Education

Loan

Trust,

Series

2021-B

,

Class

A,

1.31%,

7/17/51

(b)(f) 348,272

329,521

Navient

Refinance

Loan

Trust,

Series

A

,

Class

A,

5.15%,

2/16/55

(b) 334,075

403,369

Navient

Private

Education

Refi

Loan

Trust,

Series

2021-F

,

1.11%,

2/18/70

(b) 359,612

Total

(Cost $12,272,223)

12,356,572

Principal

Amount

Fair

Value

COMMERCIAL

MORTGAGE-BACKED

SECURITIES

—

5.98%

78,016

BX

Commercial

Mortgage

Trust,

Series

2021-ACNT,

Class

C,

5.36%,

11/15/38

(b)(e) 77,922

287,204

BX

Commercial

Mortgage

Trust,

Series

2021-CIP,

Class

B,

5.14%,

12/15/38

(b) 286,919

261,884

SMR

Mortgage

Trust,

Series

2022-IND,

Class

A,

5.40%,

2/15/39

(b)(e) 261,839

415,092

CD

Mortgage

Trust,

Series

2016-CD2,

Class

A4,

3.53%,

11/10/49

(c) 405,709

410,000

CD

Mortgage

Trust,

Series

2017-CD3,

Class

A4,

3.63%,

2/10/50

400,182

225,000

JPMCC

Commercial

Mortgage

Securities

Trust,

Series

JP5,

Class

A5,

3.72%,

3/15/50

223,685

160,000

COMM

Mortgage

Trust,

Series

COR2,

Class

A3,

3.51%,

9/10/50

157,900

75,000

Benchmark

Mortgage

Trust,

Series

2023-V2,

Class

A3,

5.81%,

5/15/55

(c) 77,459

228,000

BMO

Mortgage

Trust,

Series

2023-5C1,

7.36%,

8/15/56

240,721

100,000

BANK5

Trust,

Series

2023-5YR3,

Class

AS,

7.56%,

9/15/56

(c) 106,721

Sterling

Capital

Short

Duration

Bond

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

COMMERCIAL

MORTGAGE-BACKED

SECURITIES

—

(continued)

$

100,000

BANK5

Trust,

Series

2023-5YR4,

Class

AS,

7.27%,

12/15/56

(c) $

106,613

Total

(Cost $2,306,443)

2,345,670

Principal

Amount

Fair

Value

COLLATERALIZED

MORTGAGE

OBLIGATIONS

—

5.90%

273,642

Palmer

Square

Loan

Funding

2024-1

Ltd.,

Series

1A,

Class

A1,

4.96%,

10/15/32

(b) 273,626

420,000

Point

Au

Roche

Park

CLO

Ltd,

Series

1A,

Class

A,

5.23%,

7/20/34

((TSFR3M

+

26.20 bps)

+

bps)

(b)(c) 420,832

4,561

Fannie

Mae,

Series

72,

Class

NA,

2.50%,

8/25/42

4,536

240,635

Fannie

Mae,

Series

35,

Class

CB,

2.00%,

2/25/43

235,021

150,143

Fannie

Mae,

Series

100,

Class

DA,

3.00%,

2/25/43

147,709

164,643

Freddie

Mac,

Series

4828,

Class

QA,

3.50%,

3/15/47

163,330

550,204

Chase

Home

Lending

Mortgage

Trust,

Series

2019-

ATR2,

Class

A3,

3.50%,

8/25/49

(b) 501,894

150,000

CSAIL

Commercial

Mortgage

Trust,

Series

2015-C7,

Class

A5,

3.50%,

11/15/49

148,895

400,000

Benchmark

Mortgage

Trust,

Series

2023-V3,

Class

A3,

6.36%,

7/15/56

(c) 418,247

Total

(Cost $2,377,621)

2,314,090

Principal

Amount

Fair

Value

MUNICIPAL

BONDS

—

0.25%

New

York

—

0.25%

95,000

City

of

New

York

NY

,

4.67 %,

2/1/28

96,754

Total

(Cost $95,000)

96,754

Principal

Amount

Fair

Value

U.S.

GOVERNMENT

&

AGENCIES

—

1.18%

493,600

United

States

Treasury

Note/Bond,

1.00 %

,

7/31/28

463,136

Total

(Cost $459,022)

463,136

Sterling

Capital

Short

Duration

Bond

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Shares

Fair

Value

MONEY

MARKET

FUNDS

—

1.46%

$

573,692

Federated

Hermes

Treasury

Obligations

Fund,

Institutional

Shares,

3.67%

(g) $

573,692

Total

Money

Market

Funds

(Cost

$573,692)

573,692

Total

Investments—

100.07%

(Cost

$38,996,631)

39,279,712

Liabilities

in

Excess

of

Other

Assets

—

(0.07)%

(26,805)

NET

ASSETS

—

100.00%

39,252,907

(a) Non-income

producing

security.

(b) Security

exempt

from

registration

under

Rule

144A

or

Section

4(2)

of

the

Securities

Act

of

1933. The

security

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

The

Advisor,

using

Board

approved

procedures,

has

deemed

these

securities

or

a

portion

of

these

securities

to

be

liquid.

(c) The

interest

rate

for

this

variable

rate

note,

which

will

change

periodically,

is

based

either

on

the

prime

rate

or

an

index

of

market

rates.

The

reflected

rate

is

in

effect

as

of

December

31,

2025. The

maturity

date

reflected

is

the

final

maturity

date.

(d) The

security

was

purchased

on a

when-issued

of

forward

commitment

basis.

(e) Security

is

a

fix-to-float

security,

which

carries

a

fixed

coupon

until

a

certain

date,

upon

which

it

switches

to

a

floating

rate.

Rate

shown

is

the

fixed

rate.

(f) All

or

a

portion

of

the

securities

are

held

in

a

separate

collateral

account

at

US

Bank.

The

total

value

of

securities

held

in

a

separate

collateral

account

as

of

the

period

ended

December

31,

2025

is

$348,272,

which

represents

1.0%

of

net

assets.

(g) Represents

the

current

yield

as

of

report

date.

Sterling

Capital

Short

Duration

Bond

Fund

Futures

Schedule

of

Investments

December

31,

2025

(Unaudited)

FUTURES

CONTRACTS

Contracts

Expiration

Date

Notional

Value

Aggregate

Market

Value

of

Contracts

Unrealized

Appreciation

(Depreciation)

CBOT

Year

US

Treasury

Note

Future

03/31/2026

$

2,297,539

$

2,296,680

$

(859) Sterling

Capital

Intermediate

U.S.

Government

Fund

Schedule

of

Investments

December

31,

2025

(Unaudited)

wis

Principal

Amount

Fair

Value

ASSET

BACKED

SECURITIES

—

4.43%

$

100,000

BANK5

Trust,

Series

2024-5YR5

,

6.27%,

2/15/29

$

104,296

183,000

Avis

Budget

Rental

Car

Funding

AESOP

LLC,

Series

2023-1A

,

Class

A,

5.36%,

6/20/30

(a) 188,687

100,000

BANK

Trust,

Series

2024-BNK48

,

Class

A5,

5.05%,

9/15/34

101,671

57,988

United

States

Small

Business

Administration,

Series

2015-20G

,

Class

1,

2.88%,

7/01/35

(b) 55,077

89,119

Government

National

Mortgage

Association,

Series

,

Class

NA,

5.00%,

8/20/51

89,641

79,393

Government

National

Mortgage

Association,

Series

,

Class

AN,

4.75%,

7/16/52

79,988

150,000

BANK5

Trust,

Series

2024-5YR6

,

Class

A3,

6.23%,

5/15/57

158,055

100,000

BANK5

Trust,

Series

2024-5YR6

,

Class

AS,

6.79%,

5/15/57

(c) 106,008

Total

(Cost $872,676)

883,423

Principal

Amount

Fair

Value

COMMERCIAL

MORTGAGE-BACKED

SECURITIES

—

11.72%

210,000

Freddie

Mac

Multifamily

Structured

Pass

Through,

Series

K060,

Class

A2,

3.30%,

10/25/26

208,766

476,376

Freddie

Mac

Multifamily

Structured

Pass

Through,

Series

K061,

Class

A2,

3.35%,

11/25/26

473,721

355,721

Fannie

Mae-Aces,

Series

2017-M7,

Class

A2,

2.96%,

2/25/27

352,242

174,546

Fannie

Mae-Aces,

Series

2017-M8,

Class

A2,

3.06%,

5/25/27

172,861

125,000

Freddie

Mac

Multifamily

Structured

Pass

Through,

Series

K066,

Class

A2,

3.12%,

6/25/27

(Special

footnote)

123,839

169,949

Freddie

Mac

Multifamily

Structured

Pass

Through,

Series

K069,

Class

A2,

3.19%,

9/25/27

168,127

275,000

Freddie

Mac

Multifamily

Structured

Pass

Through,

Series

K079,

Class

A2,

3.93%,

6/25/28

275,402

374,989

Fannie

Mae-Aces,

Series

2018-M10,

Class

A2,

3.47%,

7/25/28

371,966

26,000

BMO

Mortgage

Trust,

Series

2023-5C1,

7.36%,

8/15/56

27,451

150,000

BANK5

Trust,

Series

2023-5YR3,

Class

AS,

7.56%,

9/15/56

(c) 160,081

Total

(Cost $2,359,914)

2,334,456

Principal

Amount

Fair

Value

MORTGAGE-BACKED

SECURITIES

—

34.63%

Fannie

Mae

—

22.70%

121,527

4.00%,

12/01/33,

Pool

#MA1689

120,655

Sterling

Capital

Intermediate

U.S.

Government

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

MORTGAGE-BACKED

SECURITIES

—

(continued)

Fannie

Mae

—

(continued)

$

31,811

4.00%,

12/01/36,

Pool

#MA2856

$

31,460

30,214

4.00%,

2/01/37,

Pool

#MA2914

29,886

316,639

1.50%,

12/01/40,

Pool

#MA4202

270,853

181,974

5.00%,

8/01/41

187,127

89,900

6.00%,

9/01/43,

Pool

#MA5158

92,634

29,479

4.00%,

5/01/47,

Pool

#BE9598

28,237

95,546

3.50%,

12/01/47,

Pool

#CA0833

89,756

41,584

5.00%,

8/01/48,

Pool

#CA2219

42,243

41,574

3.50%,

9/01/49,

Pool

#BJ9608

38,848

47,722

3.50%,

10/01/49,

Pool

#CA4431

44,521

75,156

3.00%,

3/01/50,

Pool

#FM2714

67,214

166,360

3.00%,

7/01/50,

Pool

#CA6421

147,672

169,278

3.00%,

7/01/50,

Pool

#CA6422

150,289

138,861

2.00%,

8/01/50,

Pool

#CA6799

114,032

153,629

2.50%,

8/01/50,

Pool

#CA6707

132,945

218,651

2.00%,

9/01/50,

Pool

#CA7019

179,547

250,190

2.50%,

9/01/50,

Pool

#BQ2883

212,991

112,697

2.50%,

9/01/50,

Pool

#BQ0538

96,017

377,823

3.50%,

9/01/50,

Pool

#FS5284

352,900

308,012

2.00%,

10/01/50,

Pool

#CA7224

251,909

244,556

2.50%,

10/01/50,

Pool

#FM4638

208,877

228,479

2.50%,

10/01/50,

Pool

#FM4530

195,734

155,838

4.00%,

7/01/52,

Pool

#FS2516

148,737

356,510

4.50%,

11/01/52,

Pool

#FS6858

350,971

115,897

5.00%,

11/01/52,

Pool

#CB5278

116,327

163,907

5.50%,

2/01/54,

Pool

#FA0202

167,101

272,061

6.00%,

5/01/54,

Pool

#FM2472

281,125

155,012

5.50%,

11/01/54,

Pool

#FS9801

157,598

220,284

5.00%,

4/01/55,

Pool

#CC0236

220,180

4,528,386

Federal

Farm

Credit

Banks

Funding

Corp.

—

0.35%

86,000

2.40%,

3/24/36

71,193

Federal

Home

Loan

Banks

—

0.27%

60,000

1.90%,

10/07/31

53,265

Sterling

Capital

Intermediate

U.S.

Government

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

MORTGAGE-BACKED

SECURITIES

—

(continued)

Freddie

Mac

—

10.80%

$

75,829

4.00%,

12/01/35,

Pool

#ZA2401

$

74,944

45,798

4.00%,

3/01/39,

Pool

#ZA6403

45,032

161,084

2.00%,

12/01/40,

Pool

#RB5090

140,935

109,165

3.50%,

1/01/47,

Pool

#ZT0941

102,591

77,598

3.00%,

12/01/51,

Pool

#SD8184

69,244

96,645

3.50%,

6/01/52,

Pool

#SD2670

90,741

145,377

4.50%,

6/01/52,

Pool

#SD1265

143,377

146,438

4.50%,

8/01/52,

Pool

#SD1515

144,583

222,831

5.00%,

9/01/52,

Pool

#RA7936

224,812

152,849

4.00%,

2/01/53,

Pool

#SD7560

147,446

134,765

5.50%,

2/01/53,

Pool

#QF8052

137,612

160,339

5.00%,

3/01/53,

Pool

#SD2390

161,056

74,983

6.00%,

5/01/53,

Pool

#SD3072

77,588

131,113

6.00%,

7/01/53,

Pool

#SD3223

135,235

169,376

5.50%,

6/01/54,

Pool

#SD5479

173,707

267,106

6.00%,

9/01/54,

Pool

#SD6337

277,231

2,146,134

Ginnie

Mae

II

—

0.51%

23,834

5.00%,

11/20/38,

Pool

#4283

23,938

82,837

4.00%,

7/20/52,

Pool

#786280

78,534

102,472

Total

(Cost $7,295,732)

6,901,450

Principal

Amount

Fair

Value

COLLATERALIZED

MORTGAGE

OBLIGATIONS

—

21.13%

93,567

Freddie

Mac,

Series

3787,

Class

LM,

4.00%,

1/15/31

93,925

50,007

Freddie

Mac,

Series

4151,

Class

PA,

2.00%,

1/15/33

47,727

148,063

Fannie

Mae-Aces,

Series

M1,

Class

1A3,

3.55%,

1/25/33

140,064

175,000

Freddie

Mac,

Series

4172,

Class

KB,

3.00%,

2/15/33

165,434

203,837

Ginnie

Mae,

Series

181,

Class

AV,

5.50%,

2/20/33

207,773

54,768

Fannie

Mae,

Series

2013-44,

Class

DJ,

1.85%,

5/25/33

51,519

22,278

Fannie

Mae,

Series

2003-44,

Class

Q,

3.50%,

6/25/33

21,932

143,480

Ginnie

Mae,

Series

2023-79,

Class

DV,

5.50%,

5/20/34

145,817

78,786

Fannie

Mae,

Series

2005-31,

Class

PB,

5.50%,

4/25/35

81,567

28,034

Ginnie

Mae,

Series

2013-133,

Class

PL,

3.50%,

2/16/37

27,760

483,334

Fannie

Mae-Aces,

Series

M1,

Class

2A1,

4.05%,

12/25/37

472,805

Sterling

Capital

Intermediate

U.S.

Government

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

COLLATERALIZED

MORTGAGE

OBLIGATIONS

—

(continued)

$

131,052

Freddie

Mac,

Series

4863,

Class

AJ,

3.50%,

7/15/38

$

127,814

49,052

Freddie

Mac,

Series

4122,

Class

BC,

3.00%,

5/15/40

46,986

135,715

Ginnie

Mae,

Series

137,

Class

WA,

5.58%,

7/20/40

140,975

150,000

Ginnie

Mae,

Series

81,

Class

AL,

4.50%,

8/20/40

145,569

99,601

Progress

Residential

Trust,

Series

SFR1,

Class

A,

3.40%,

2/17/42

(a) 95,562

152,539

Fannie

Mae,

Series

2012-87,

Class

MB,

2.00%,

5/25/42

144,990

6,110

Fannie

Mae,

Series

2016-49,

Class

DA,

3.50%,

10/25/42

6,093

110,319

Fannie

Mae,

Series

2012-150,

Class

KA,

1.75%,

1/25/43

93,639

131,888

Freddie

Mac,

Series

4173,

Class

NB,

3.00%,

3/15/43

122,011

315,000

Freddie

Mac,

Series

4669,

Class

QY,

3.50%,

9/15/44

307,579

37,089

Ginnie

Mae,

Series

2015-162,

Class

EB,

2.50%,

9/20/44

35,372

482,205

Freddie

Mac,

Series

4601,

Class

NJ,

1.90%,

9/15/45

434,962

136,769

Fannie

Mae,

Series

2016-49,

Class

PA,

3.00%,

9/25/45

130,175

81,315

Freddie

Mac,

Series

4656,

Class

PA,

3.50%,

10/15/45

79,640

113,038

Fannie

Mae,

Series

2016-24,

Class

CD,

1.75%,

2/25/46

98,937

172,481

Fannie

Mae,

Series

2016-88,

Class

PK,

2.50%,

3/25/46

160,555

65,221

Freddie

Mac,

Series

5380,

Class

A,

5.50%,

9/25/47

65,884

208,321

Fannie

Mae,

Series

2019-25,

Class

PD,

2.50%,

5/25/48

189,222

177,190

Freddie

Mac,

Series

4942,

Class

NC,

2.50%,

10/25/49

156,984

173,862

Ginnie

Mae,

Series

2022-137,

Class

PA,

4.00%,

5/20/52

171,102

Total

(Cost $4,278,056)

4,210,374

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

1.01%

BANKING

—

1.01%

200,000

Federal

Home

Loan

Banks,

5.07%,

11/19/37

200,353

Total

(Cost $199,801)

200,353

Principal

Amount

Fair

Value

MUNICIPAL

BONDS

—

0.20%

Wisconsin

—

0.20%

40,000

State

of

Wisconsin,

TXB,

Revenue

Bonds,

Pension

Fundings

Series

A,

(AGM)

,

5.70 %,

5/1/26

(b) 40,258

Total

(Cost $40,180)

40,258

Sterling

Capital

Intermediate

U.S.

Government

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

U.S.

GOVERNMENT

&

AGENCIES

—

0.98%

$

200,000

United

States

Treasury

Inflation

Indexed

Bonds,

2.38 %

,

2/15/55

$

195,765

Total

(Cost $197,601)

195,765

Principal

Amount

Fair

Value

U.S.

TREASURY

BONDS

&

NOTES

—

24.58%

1,150,000

United

States

Treasury

Strip,

0.00 %

,

5/15/29

1,016,556

780,200

United

States

Treasury

Note,

1.13 %

,

2/15/31

(b) 686,911

2,400,000

United

States

Treasury

Note,

2.75 %

,

8/15/32

(b) 2,237,156

1,000,000

United

States

Treasury

Strip,

0.00 %

,

11/15/32

756,756

200,000

United

States

Treasury

Note,

4.00 %

,

2/15/34

199,375

Total

(Cost $4,860,483)

4,896,754

Shares

Fair

Value

MONEY

MARKET

FUNDS

—

0.94%

187,055

Federated

Hermes

Treasury

Obligations

Fund,

Institutional

Shares,

3.67%

(d) 187,055

Total

Money

Market

Funds

(Cost

$187,055)

187,055

Total

Investments—

99.62%

(Cost

$20,291,498)

19,849,888

Other

Assets

in

Excess

of

Liabilities

—

0.38%

75,703

NET

ASSETS

—

100.00%

19,925,591

(a) Security

exempt

from

registration

under

Rule

144A

or

Section

4(2)

of

the

Securities

Act

of

1933. The

security

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

The

Advisor,

using

Board

approved

procedures,

has

deemed

these

securities

or

a

portion

of

these

securities

to

be

liquid.

(b) The

interest

rate

for

this

variable

rate

note,

which

will

change

periodically,

is

based

either

on

the

prime

rate

or

an

index

of

market

rates.

The

reflected

rate

is

in

effect

as

of

December

31,

2025. The

maturity

date

reflected

is

the

final

maturity

date.

(c) All

or

a

portion

of

the

securities

are

held

in

a

separate

collateral

account

at

US

Bank.

The

total

value

of

securities

held

in

a

separate

collateral

account

as

of

the

period

ended

December

31,

2025

is

$3,019,402,

which

represents

15.2%

of

net

assets.

(d) Represents

the

current

yield

as

of

report

date.

AGM

Assured

Guaranty

Municipal

Corp.

TXB

Taxable

Bond

Sterling

Capital

Total

Return

Bond

Fund

Schedule

of

Investments

December

31,

2025

(Unaudited)

Shares

Fair

Value

PREFERRED

STOCKS

—

0.20%

Asset

Management

—

0.20%

117,650

Apollo

Global

Management,

Inc.,

5.97%

(a) $

3,098,901

Total

Preferred

Stocks

(Cost $3,065,046)

3,098,901

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

25.59%

AEROSPACE

&

DEFENSE

—

0.60%

$

2,390,000

BAE

Systems

PLC,

5.13%,

3/26/29

(b) $

2,456,939

2,798,000

Boeing

Co.

(The),

5.71%,

5/01/40

2,856,137

2,152,000

Boeing

Co.

(The),

6.30%,

5/01/29

2,284,237

1,415,000

Howmet

Aerospace,

Inc.,

4.55%,

11/15/32

1,421,305

9,018,618

ASSET

MANAGEMENT

—

0.66%

2,744,000

Apollo

Debt

Solutions

BDC,

6.90%,

4/13/29

2,877,163

1,677,000

Ares

Finance

Co.

III

LLC,

4.13%,

6/30/51

(H15T5Y

+

323.70 bps)

(a)(b)(c)

1,655,159

4,264,000

Blackstone

Secured

Lending

Fund,

5.13%,

1/31/31

4,210,909

1,245,000

Goldman

Sachs

Private

Credit

Corp,

5.88%,

1/31/31

(b) 1,246,384

9,989,615

AUTOMOTIVE

—

0.06%

916,000

Hyundai

Capital

America,

5.40%,

6/23/32

(b) 949,601

BANKING

—

2.25%

6,076,000

Bank

of

America

Corp,

5.02%,

7/22/33

(SOFRRATE

+

bps)

(c) 6,195,406

3,273,000

Bank

of

America

Corp.,

5.74%,

2/12/36

(SOFRRATE

+

169.70 bps)

(c) 3,410,459

1,959,000

Barclays

PLC,

5.09%,

6/20/30

1,992,333

3,321,000

Fifth

Third

Bancorp,

4.34%,

4/25/33

(c) 3,246,461

1,343,000

Huntington

Bancshares

Inc/OH,

5.71%,

2/02/35

1,402,888

1,450,000

JPMorgan

Chase

&

Co,

5.58%,

7/23/36

(SOFRRATE

+

163.50 bps)

(c) 1,499,951

4,424,000

Macquarie

Group

Ltd,

2.69%,

6/23/32

(b)(c) 4,023,201

2,821,000

Mitsubishi

UFJ

Financial

Group

Inc.,

2.49%,

10/13/32

(H15T1Y

+

bps)

(c) 2,526,836

2,092,000

US

Bancorp,

4.84%,

2/01/34

(c) 2,107,371

3,255,000

Wells

Fargo

&

Co.,

4.90%,

7/25/33

(SOFR

+

bps)

(c) 3,305,631

4,331,000

Wells

Fargo

&

Co.,

5.61%,

4/23/36

(c) 4,539,372

34,249,909

Sterling

Capital

Total

Return

Bond

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

BANKS

—

2.50%

$

2,226,000

Bank

of

America

Corp.,

5.29%,

4/25/34

(c) $

2,291,770

6,793,000

Citigroup,

Inc.,

2.98%,

11/05/30

(c) 6,469,498

1,682,000

Citizens

Financial

Group,

Inc.,

5.84%,

1/23/30

(c) 1,754,332

1,746,000

Comerica,

Inc.,

5.98%,

1/30/30

(SOFR

+

215.50 bps)

(c) 1,821,458

2,252,000

Huntington

Bancshares,

Inc.,

6.07%,

8/21/29

(c) 2,361,906

3,797,000

JPMorgan

Chase

&

Co.,

4.91%,

7/25/33

(c) 3,868,038

5,573,000

JPMorgan

Chase

&

Co.,

5.01%,

1/23/30

(c) 5,710,653

3,442,000

Sumitomo

Mitsui

Financial

Group,

Inc.,

2.13%,

7/08/30

3,135,073

2,301,000

Toronto-Dominion

Bank

(The),

3.63%,

9/15/31

(USSW5

+

220.50 bps)

(c) 2,287,898

4,050,000

Wells

Fargo

&

Co.,

2.88%,

10/30/30

(c) 3,852,737

4,483,000

Westpac

Banking

Corp.,

4.32%,

11/23/31

(USISOA05

+

bps)

(c) 4,479,818

38,033,181

BEVERAGES

—

0.19%

2,871,000

Bacardi

Ltd.

/

Bacardi-Martini

BV,

5.40%,

6/15/33

(b) 2,902,616

BIOTECH

&

PHARMA

—

0.63%

2,660,000

CSL

Finance

PLC,

4.25%,

4/27/32

(b) 2,615,034

782,000

Eli

Lilly

&

Co,

5.55%,

10/15/55

787,167

2,330,000

Eli

Lilly

&

Co.,

Series

X2,

Class

A,

4.90%,

2/12/32

2,408,461

3,762,000

Zoetis,

Inc.,

5.00%,

8/17/35

3,803,220

9,613,882

BIOTECHNOLOGY

—

0.27%

4,011,000

Amgen,

Inc.,

5.25%,

3/02/30

4,160,315

CABLE

&

SATELLITE

—

0.41%

1,345,000

Charter

Communications

Operating

LLC,

6.65%,

2/01/34

1,416,877

1,799,000

Charter

Communications

Operating

LLC,

6.10%,

6/01/29

1,877,578

2,788,000

Charter

Communications

Operating

LLC,

6.55%,

6/01/34

2,932,295

6,226,750

CAPITAL

MARKETS

—

0.65%

1,198,000

Ares

Management

Corp.,

6.38%,

11/10/28

1,267,758

3,678,000

BlackRock,

Inc.,

1.90%,

1/28/31

(d) 3,305,476

5,208,000

Morgan

Stanley,

5.25%,

4/21/34

5,361,955

9,935,189

Sterling

Capital

Total

Return

Bond

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

CONSTRUCTION

MATERIALS

—

0.32%

$

2,935,000

CRH

America

Finance,

Inc.,

5.00%,

2/09/36

$

2,945,134

1,927,000

Eagle

Materials,

Inc.,

5.00%,

3/15/36

1,887,557

4,832,691

CONSUMER

SERVICES

—

0.30%

2,317,000

Duke

University,

3.30%,

10/01/46

1,714,223

3,898,000

Lehigh

University,

3.48%,

11/15/46

2,857,998

4,572,221

DIVERSIFIED

TELECOMMUNICATION

SERVICES

—

0.26%

5,069,000

AT&T,

Inc.,

3.50%,

6/01/41

3,987,249

E-COMMERCE

DISCRETIONARY

—

0.32%

2,831,000

Amazon.com

Inc,

2.88%,

5/12/41

2,148,102

2,564,000

Amazon.com,

Inc.,

4.65%,

11/20/35

2,553,630

4,701,732

ELECTRIC

UTILITIES

—

2.33%

2,437,000

CenterPoint

Energy

Houston

Electric

LLC,

5.15%,

3/01/34

2,492,194

3,238,000

DTE

Electric

Co,

5.25%,

5/15/35

3,327,823

2,634,000

Duke

Energy

Florida

LLC,

6.40%,

6/15/38

2,935,192

4,337,000

Duke

Energy

Progress

LLC,

3.60%,

9/15/47

3,226,694

3,407,000

Entergy

Louisiana

LLC,

5.70%,

3/15/54

3,384,091

3,981,000

FirstEnergy

Transmission

LLC,

4.75%,

1/15/33

(b) 3,979,729

3,536,000

Indiana

Michigan

Power

Co.,

4.55%,

3/15/46

3,058,299

673,000

Nevada

Power

Co.,

6.25%,

5/15/55

(H15T5Y

+

193.60 bps)

(c) 680,568

3,950,000

NextEra

Energy

Capital

Holdings,

Inc.,

2.44%,

1/15/32

3,517,644

2,166,000

NRG

Energy

Inc,

5.41%,

10/15/35

(b)(e) 2,163,706

2,479,000

Public

Service

Co

of

Colorado,

5.35%,

5/15/34

2,547,153

2,752,000

Puget

Sound

Energy,

Inc.,

4.22%,

6/15/48

2,239,548

3,000,000

Southwestern

Public

Service

Co.,

3.15%,

5/01/50

1,979,154

35,531,795

ELECTRICAL

EQUIPMENT

—

0.28%

4,410,000

Amphenol

Corp,

4.63%,

2/15/36

4,320,554

FINANCIAL

SERVICES

—

0.10%

1,687,000

KKR

Group

Finance

Co.

III

LLC,

5.13%,

6/01/44

(b) 1,575,821

FOOD

—

0.17%

2,830,000

Kraft

Heinz

Foods

Co.,

5.00%,

6/04/42

2,596,794

Sterling

Capital

Total

Return

Bond

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

GAS

&

WATER

UTILITIES

—

0.21%

$

3,137,000

Southern

Co

Gas

Capital

Corp,

5.10%,

9/15/35

$

3,161,033

HEALTH

CARE

EQUIPMENT

&

SUPPLIES

—

0.21%

3,059,000

GE

HealthCare

Technologies,

Inc.,

5.86%,

3/15/30

3,234,935

HEALTH

CARE

FACILITIES

&

SERVICES

—

0.50%

2,632,000

CVS

Health

Corp,

6.05%,

6/01/54

2,616,826

2,706,000

HCA,

Inc.,

5.50%,

6/01/33

2,815,267

2,085,000

IQVIA,

Inc.,

6.25%,

2/01/29

2,197,837

7,629,930

HOME

CONSTRUCTION

—

0.26%

1,540,000

DR

Horton

Inc.,

4.85%,

10/15/30

1,573,336

2,395,000

Meritage

Homes

Corp,

5.65%,

3/15/35

2,446,915

4,020,251

HOUSEHOLD

DURABLES

—

0.11%

1,729,000

Meritage

Homes

Corp.,

3.88%,

4/15/29

(b) 1,698,200

INSTITUTIONAL

FINANCIAL

SERVICES

—

0.30%

5,023,000

Morgan

Stanley,

2.51%,

10/20/32

(SOFRRATE

+

bps)

(c) 4,504,922

INSURANCE

—

1.57%

2,274,000

American

National

Group

Inc,

6.00%,

7/15/35

2,305,898

1,456,000

Athene

Holding

Ltd.,

6.63%,

10/15/54

1,453,240

3,826,000

Athene

Holding

Ltd.,

5.88%,

1/15/34

3,966,506

1,802,000

Enstar

Group

Ltd.,

3.10%,

9/01/31

1,619,541

2,385,000

Fortitude

Group

Holdings

LLC,

6.25%,

4/01/30

(b) 2,484,182

2,597,000

GA

Global

Funding

Trust,

5.50%,

1/08/29

(b) 2,669,261

2,043,000

Global

Atlantic

Fin

Co.,

6.75%,

3/15/54

(b) 2,087,038

1,919,000

Lincoln

National

Corp.,

5.35%,

11/15/35

1,935,975

1,515,000

RGA

Global

Funding,

5.50%,

1/11/31

(b) 1,575,739

1,584,000

SBL

Holdings,

Inc.,

7.20%,

10/30/34

(b) 1,533,712

1,863,000

Transatlantic

Holdings,

Inc.,

8.00%,

11/30/39

2,326,891

23,957,983

INTERACTIVE

MEDIA

&

SERVICES

—

0.17%

2,704,000

Meta

Platforms,

Inc.,

5.40%,

8/15/54

2,515,573

INTERNET

MEDIA

&

SERVICES

—

0.41%

3,666,000

Beignet

Investor

LLC,

6.58%,

5/30/49

(b) 3,873,111

2,300,000

Meta

Platforms

Inc,

4.60%,

11/15/32

2,318,490

6,191,601

Sterling

Capital

Total

Return

Bond

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

IT

SERVICES

—

0.16%

$

2,503,000

Gartner,

Inc.,

4.50%,

7/01/28

(b) $

2,494,905

LEISURE

PRODUCTS

—

0.09%

757,000

Mattel

Inc,

3.75%,

4/01/29

(b) 737,822

675,000

Mattel,

Inc.,

5.00%,

11/17/30

679,681

1,417,503

MACHINERY

—

0.16%

2,383,000

Caterpillar

Inc.,

5.20%,

5/15/35

2,470,019

MEDICAL

EQUIPMENT

&

DEVICES

—

0.17%

2,905,000

Baxter

International

Inc,

2.54%,

2/01/32

2,531,456

METALS

&

MINING

—

0.82%

2,449,000

Anglo

American

Capital

PLC,

6.00%,

4/05/54

(b) 2,451,932

4,276,000

Freeport-McMoRan

Inc.,

5.45%,

3/15/43

4,139,344

3,159,000

Glencore

Funding

LLC,

5.67%,

4/01/35

(b) 3,298,203

2,535,000

Steel

Dynamics,

Inc.,

5.38%,

8/15/34

2,626,214

12,515,693

MULTI-UTILITIES

—

0.33%

2,667,000

CMS

Energy

Corp.,

4.70%,

3/31/43

2,324,806

3,125,000

Sempra,

3.80%,

2/01/38

2,685,503

5,010,309

OIL

&

GAS

PRODUCERS

—

0.58%

1,797,000

APA

Corp.,

5.10%,

9/01/40

1,596,766

2,422,000

DT

Midstream

Inc,

4.13%,

6/15/29

(b) 2,390,071

2,200,000

Plains

All

American

Pipeline

LP/PAA

Finance

Corp.,

5.60%,

1/15/36

2,225,445

2,525,000

Woodside

Finance

Ltd.,

6.00%,

5/19/35

2,629,647

8,841,929

OIL,

GAS

&

CONSUMABLE

FUELS

—

0.71%

2,033,000

Aker

BP

ASA,

3.75%,

1/15/30

(b) 1,966,249

1,555,000

Diamondback

Energy,

Inc.,

5.40%,

4/18/34

1,592,202

2,606,000

MPLX

LP,

4.50%,

4/15/38

2,376,086

2,134,000

ONEOK,

Inc.,

7.15%,

1/15/51

2,343,095

2,750,000

Pioneer

Natural

Resources

Co.,

1.90%,

8/15/30

2,490,654

10,768,286

REIT

—

1.30%

3,279,000

American

Tower

Trust,

Series

2018-1,

Class

A,

3.65%,

3/15/28

(b)(d) 3,246,425

2,669,000

Extra

Space

Storage

LP,

4.95%,

1/15/33

2,697,880

Sterling

Capital

Total

Return

Bond

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

REIT

—

(continued)

$

1,770,000

Invitation

Homes

Operating

Partnership

LP,

4.15%,

4/15/32

$

1,718,014

2,254,000

LXP

Industrial

Trust,

2.70%,

9/15/30

2,066,929

2,550,000

Phillips

Edison

Grocery

Center,

4.95%,

1/15/35

2,514,479

2,269,000

Prologis

Targeted

US

Logistics

Fund

LP,

5.50%,

4/01/34

(b) 2,357,296

3,371,000

Store

Capital

LLC,

2.75%,

11/18/30

3,069,011

2,396,000

Tanger

Properties

LP,

2.75%,

9/01/31

2,168,158

19,838,192

RETAIL

-

CONSUMER

STAPLES

—

0.12%

1,744,000

Kroger

Co/The,

5.00%,

9/15/34

1,753,634

RETAIL

-

DISCRETIONARY

—

0.16%

2,816,000

Lowe's

Cos

Inc.,

1.70%,

10/15/30

2,501,175

SEMICONDUCTORS

—

0.71%

3,762,000

Foundry

JV

Holdco

LLC,

6.15%,

1/25/32

(b) 3,986,546

935,000

Intel

Corp,

3.73%,

12/08/47

665,340

2,532,000

Intel

Corp,

4.90%,

8/05/52

2,097,426

3,859,000

Microchip

Technology

Inc.,

5.05%,

2/15/30

3,937,682

10,686,994

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

—

0.26%

3,981,000

Broadcom,

Inc.,

4.93%,

5/15/37

(b) 3,929,280

SOFTWARE

—

0.53%

3,699,000

Oracle

Corp,

5.88%,

9/26/45

3,340,655

2,837,000

Oracle

Corp.,

6.13%,

8/03/65

2,512,427

2,228,000

Synopsys,

Inc.,

5.00%,

4/01/32

2,275,036

8,128,118

SPECIALTY

FINANCE

—

0.89%

1,322,000

AerCap

Ireland

Capital

DAC,

6.15%,

9/30/30

1,413,356

3,115,000

Aircastle

Ltd

/

Aircastle

Ireland

DAC,

5.00%,

9/15/30

(b) 3,143,806

3,033,000

Ally

Financial

Inc.,

5.54%,

1/17/31

(SOFRINDX

+

bps)

(c) 3,103,320

2,933,000

American

Express

Co.,

5.44%,

1/30/36

(SOFRINDX

+

bps)

(c) 3,046,418

2,700,000

Ladder

Capital

Finance

Holdings

LLLP,

7.00%,

7/15/31

(b) 2,862,683

13,569,583

TECHNOLOGY

HARDWARE

—

0.68%

1,959,000

Dell

International

LLC

/

EMC

Corp,

4.75%,

10/06/32

(e) 1,956,426

Sterling

Capital

Total

Return

Bond

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

TECHNOLOGY

HARDWARE

—

(continued)

$

2,846,000

Dell

International

LLC

/

EMC

Corp.,

5.50%,

4/01/35

$

2,932,459

2,717,000

Hewlett

Packard

Enterprise

Co,

4.40%,

10/15/30

2,708,688

2,749,000

Motorola

Solutions

Inc.,

4.85%,

8/15/30

2,804,816

10,402,389

TECHNOLOGY

HARDWARE,

STORAGE

&

PERIPHERALS

—

0.13%

1,962,000

Hewlett

Packard

Enterprise

Co.,

6.35%,

10/15/45

2,011,419

TECHNOLOGY

SERVICES

—

0.19%

558,000

S&P

Global,

Inc.,

4.80%,

12/04/35

(b) 556,280

2,264,000

Verisk

Analytics,

Inc.,

5.25%,

3/15/35

2,303,950

2,860,230

TELECOMMUNICATIONS

—

0.67%

2,622,000

AT&T,

Inc.,

4.30%,

2/15/30

2,625,312

2,646,000

Sprint

Capital

Corp.,

8.75%,

3/15/32

3,199,957

3,356,000

T-Mobile

USA,

Inc.,

6.00%,

6/15/54

3,412,360

1,035,000

Verizon

Communications

Inc,

5.88%,

11/30/55

1,022,581

10,260,210

TOBACCO

&

CANNABIS

—

0.36%

2,870,000

BAT

Capital

Corp.,

6.42%,

8/02/33

3,166,861

2,357,000

Philip

Morris

International,

Inc.,

5.13%,

2/15/30

2,436,374

5,603,235

TRANSPORTATION

&

LOGISTICS

—

0.53%

2,545,000

Burlington

Northern

Santa

Fe

LLC,

4.95%,

9/15/41

2,457,802

2,740,000

Delta

Air

Lines

Inc.,

5.25%,

7/10/30

2,815,532

2,875,000

United

Airlines

Inc,

4.63%,

4/15/29

(b) 2,862,530

8,135,864

Total

(Cost $388,333,385)

389,843,384

Principal

Amount

Fair

Value

MUNICIPAL

BONDS

—

1.06%

Alabama

—

0.18%

2,675,000

Alabama

Economic

Settlement

Authority,

Economic

Imports,

Taxable

BP

-

Settlement

Revenue

Series

B

,

4.26 %,

9/15/32

(d) 2,672,977

California

—

0.09%

1,145,000

State

of

California,

Build

America

Bonds,

School

Improvements

G.O.

,

7.63 %,

3/1/40

(d) 1,380,448

New

York

—

0.79%

5,000,000

City

of

New

York

NY

,

5.68 %,

10/1/33

5,357,281

Sterling

Capital

Total

Return

Bond

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

MUNICIPAL

BONDS

—

(continued)

New

York

—

(continued)

$

345,000

Metropolitan

Transportation

Authority,

Taxable

Green

Bonds,

Green

Purpose

Revenue

Bonds

Series

C2

,

5.18 %,

11/15/49

$

318,532

7,130,000

New

York

City

Transitional

Finance

Authority

Future

Tax

Secured

Revenue,

Public

Improvements,

Taxable

Revenue,

Callable

2/1/27

@

,

3.00 %,

11/1/33

6,422,820

Total

(Cost $16,446,494)

16,152,058

Principal

Amount

Fair

Value

ASSET

BACKED

SECURITIES

—

17.53%

4,543,000

Avis

Budget

Rental

Car

Funding

AESOP

LLC,

Series

8A

,

Class

A,

6.02%,

2/20/30

(b) $

4,760,763

3,127,000

Avis

Budget

Rental

Car

Funding

AESOP

LLC,

Series

2023-1A

,

Class

A,

5.36%,

6/20/30

(b) 3,224,182

8,664,000

BANK5

2025-5YR17,

Series

5YR17

,

Class

A3,

5.23%,

11/15/58

(e) 8,932,623

8,974,000

BANK5

2025-5YR18,

Series

5YR18

,

Class

A3,

5.15%,

12/15/58

9,224,477

6,618,000

BANK5

2025-5YR19,

Series

5YR19

,

Class

A3,

5.27%,

12/15/30

6,839,816

5,741,000

BANK5

Trust,

Series

2024-5YR5

,

6.27%,

2/15/29

5,987,608

5,192,000

BANK5

Trust,

Series

2024-5YR6

,

Class

A3,

6.23%,

5/15/57

5,470,811

9,377,000

BANK5

Trust,

Series

2024-5YR6

,

Class

AS,

6.79%,

5/15/57

9,940,399

7,303,000

BBCMS

Mortgage

Trust

2025-5C38,

Series

5C38

,

Class

A3,

5.15%,

11/15/58

7,512,839

13,134,000

Benchmark

2025-V18

Mortgage

Trust,

Series

V18

,

Class

A3,

5.18%,

10/15/30

13,525,438

3,691,000

Benchmark

2025-V19

Mortgage

Trust,

Series

V19

,

Class

A3,

5.25%,

1/15/58

3,812,528

4,382,000

BMO

2025-5C13

Mortgage

Trust,

Series

5C13

,

Class

A3,

5.23%,

12/15/58

4,510,437

2,863,975

BX

Trust,

Series

2021-RISE

,

Class

C,

5.31%,

11/15/36

(b) 2,861,327

11,500,335

CARLYLE

US

CLO

Ltd.,

Series

2017-3A

,

Class

A1R2,

5.27%,

10/21/37

(b)(f) 11,542,771

6,622,510

Carvana

Auto

Receivables

Trust,

Series

P2

,

Class

B,

1.27%,

3/10/27

6,599,246

15,000,000

CIFC

Funding

Ltd.,

Series

2017-3A

,

Class

AR,

5.42%,

4/20/37

(TSFR3M

+

bps)

(b)(c)(f)

15,036,150

9,600,000

Dryden

CLO

Ltd.,

Series

53A

,

Class

BR,

5.21%,

1/15/31

(b)(f) 9,600,960

17,494,000

Hertz

Vehicle

Financing

III

LLC,

Series

2A

,

Class

A,

5.48%,

1/27/31

(b) 18,014,437

Sterling

Capital

Total

Return

Bond

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

ASSET

BACKED

SECURITIES

—

(continued)

$

14,967,000

LCM

Ltd,

Series

33A

,

Class

AR,

5.06%,

7/20/34

(TSFR3M

+

118.00 bps)

(b)(c)(f)

$

14,989,002

7,798,000

Morgan

Stanley

Bank

of

America

Merrill

Lynch,

Series

5C2

,

Class

A3,

5.11%,

11/15/30

7,992,388

3,123,826

MVW

LLC,

Series

2024-2

,

Class

A,

4.43%,

3/20/42

(b) 3,129,240

13,027,000

Neuberger

Berman

Loan

Advisers

CLO

Ltd.,

Series

41A

,

Class

AR,

4.96%,

4/15/34

(TSFR3M

+

bps)

(b) (c)(f) 13,023,352

225,182

New

Century

Home

Equity

Loan

Trust,

Series

,

Class

M1,

5.19%,

10/25/33

(d) 224,954

13,050,000

OneMain

Direct

Auto

Receivables

Trust,

Series

1A

,

Class

A,

5.41%,

11/14/29

(b) 13,148,437

20,805,000

OneMain

Financial

Issuance

Trust,

Series

1A

,

Class

A1,

1.55%,

6/16/36

(b) 20,247,418

11,353,379

SMB

Private

Education

Loan

Trust,

Series

2024-E

,

Class

A-1A,

5.09%,

10/16/56

(b) 11,529,635

6,991,000

Stack

Infrastructure

Issuer

LLC,

Series

1A

,

Class

A2,

5.00%,

5/25/50

(b) 6,906,973

13,303,000

Toyota

Auto

Loan

Extended

Note

Trust,

Series

2025-1A

,

Class

A,

4.65%,

5/25/38

(b) 13,569,637

7,342,000

Vantage

Data

Centers

Issuer,

LLC.,

Series

2A

,

Class

A2,

5.24%,

11/15/55

(b) 7,271,463

2,234,000

VDCM

Commercial

Mortgage

Trust

2025-AZ,

Series

AZ

,

Class

C,

6.03%,

7/13/44

(b)(c) 2,273,374

5,197,000

Wells

Fargo

Commercial

Mortgage

Trust

2025-5C7,

Series

5C7

,

Class

A3,

5.20%,

12/15/58

(b) 5,345,931

Total

(Cost $265,712,203)

267,048,616

Principal

Amount

Fair

Value

COMMERCIAL

MORTGAGE-BACKED

SECURITIES

—

9.45%

3,607,000

BANK5

Trust,

Series

2023-5YR3,

Class

AS,

7.56%,

9/15/56

$

3,849,420

5,789,000

BANK5

Trust,

Series

2023-5YR4,

Class

AS,

7.27%,

12/15/56

$

6,171,842

2,940,000

BBCMS

Mortgage

Trust,

Series

5C25,

Class

A3,

5.95%,

3/15/57

$

3,075,171

2,002,000

BBCMS

Mortgage

Trust,

Series

5C25,

Class

AS,

6.36%,

3/15/57

$

2,086,696

5,293,000

Benchmark

Mortgage

Trust,

Series

V6,

Class

AS,

6.38%,

3/15/29

$

5,532,041

8,434,000

Benchmark

Mortgage

Trust,

Series

V5,

Class

A3,

5.81%,

1/10/57

$

8,776,545

1,396,000

Benchmark

Mortgage

Trust,

Series

V6,

Class

A3,

5.93%,

3/15/29

$

1,458,518

6,548,000

Benchmark

Mortgage

Trust,

Series

2024-V7,

Class

AS,

6.53%,

5/15/56

$

6,891,555

Sterling

Capital

Total

Return

Bond

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

COMMERCIAL

MORTGAGE-BACKED

SECURITIES

—

(continued)

8,156,000

Benchmark

Mortgage

Trust,

Series

2024-V7,

Class

A3,

6.23%,

5/15/56

$

8,607,836

3,127,000

Benchmark

Mortgage

Trust,

Series

V2,

Class

AS,

6.54%,

5/15/55

$

3,251,921

6,847,000

BMO

2025-5C12

Mortgage

Trust,

Series

5C12,

Class

A3,

5.18%,

10/15/58

$

7,028,834

2,002,000

BMO

Mortgage

Trust,

Series

2023-5C1,

7.36%,

8/15/56

$

2,113,699

2,665,814

BX

Commercial

Mortgage

Trust,

Series

2021-ACNT,

Class

C,

5.36%,

11/15/38

(b)(f) $

2,662,598

2,614,305

BX

Commercial

Mortgage

Trust,

Series

2021-CIP,

Class

B,

5.14%,

12/15/38

(b) $

2,611,711

4,314,000

CD

Mortgage

Trust,

Series

2016-CD2,

Class

A4,

3.53%,

11/10/49

$

4,216,487

530,000

CD

Mortgage

Trust,

Series

2017-CD3,

Class

A4,

3.63%,

2/10/50

$

517,309

3,447,000

CFCRE

Commercial

Mortgage

Trust,

Series

C7,

Class

A3,

3.84%,

12/10/54

$

3,424,692

35,475

CHL

Mortgage

Pass-Through

Trust,

Series

3,

Class

A4,

5.75%,

4/25/34

$

35,409

1,337,000

Citigroup

Commercial

Mortgage

Trust,

Series

P7,

Class

A4,

3.71%,

4/14/50

$

1,325,471

8,955

Citigroup

Mortgage

Loan

Trust,

Inc.,

Series

NCM2,

Class

3CB2,

6.50%,

8/25/34

$

8,950

7,241,000

COMM

Mortgage

Trust,

Series

COR2,

Class

A3,

3.51%,

9/10/50

$

7,145,969

16,831

CSFB

Mortgage-Backed

Pass-Through

Certificates,

Series

1,

Class

2A1,

6.50%,

2/25/34

$

16,864

1,252,791

Fannie

Mae-Aces,

Series

2019-M9,

Class

A2,

2.94%,

6/25/29

$

1,219,461

3,386,000

Freddie

Mac

Multifamily

Structured

Pass

Through,

Series

K153,

Class

A3,

3.12%,

10/25/31

$

3,213,019

8,536,000

Freddie

Mac

Multifamily

Structured

Pass

Through,

Series

K155,

Class

A3,

3.75%,

4/25/33

$

8,219,943

4,048,697

FRESB

Mortgage

Trust,

Series

SB52,

Class

A10F,

3.48%,

6/25/28

$

3,986,251

2,209,000

GS

Mortgage

Securities

Trust,

Series

2016-GS4,

Class

A4,

3.44%,

11/15/49

$

2,195,223

1,517,000

JP

Morgan

Chase

Commercial

Mortgage,

Series

JP4,

Class

A4,

3.65%,

12/15/49

(f) $

1,504,634

961,311

JP

Morgan

Chase

Commercial

Mortgage,

Series

C3,

Class

B,

5.01%,

2/15/46

(b) $

940,724

3,742,000

JPMCC

Commercial

Mortgage

Securities

Trust,

Series

JP5,

Class

A5,

3.72%,

3/15/50

$

3,720,132

5,198,000

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust,

Series

C32,

Class

A4,

3.72%,

12/15/49

$

5,156,483

Sterling

Capital

Total

Return

Bond

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

COMMERCIAL

MORTGAGE-BACKED

SECURITIES

—

(continued)

8,910,000

Morgan

Stanley

Capital

I,

Series

HR2,

Class

A4,

3.59%,

12/15/50

$

8,803,926

2,562,000

Morgan

Stanley

Capital

I

Trust,

Series

BNK2,

Class

A4,

3.05%,

11/15/49

$

2,513,792

9,850,000

Morgan

Stanley

Capital

I

Trust,

Series

H3,

Class

A5,

4.18%,

7/15/51

$

9,834,697

2,597,776

SMR

Mortgage

Trust,

Series

2022-IND,

Class

A,

5.40%,

2/15/39

(b)(f) $

2,597,331

723,000

Wells

Fargo

Commercial

Mortgage

Trust,

Series

C37,

Class

A5,

3.79%,

12/15/49

$

720,037

8,591,000

Wells

Fargo

Commercial

Mortgage

Trust,

Series

C40,

Class

A4,

3.58%,

10/15/50

$

8,509,524

Total

(Cost $145,918,732)

$

143,944,715

Principal

Amount

Fair

Value

COLLATERALIZED

MORTGAGE

OBLIGATIONS

—

6.17%

2,107,000

BANK5,

Series

2023-5YR4,

Class

B,

7.86%,

12/15/28

$

2,259,980

5,728,000

BBCMS

Mortgage

Trust

2025-5C36,

Series

5C36,

Class

A3,

5.52%,

8/15/58

$

5,974,979

2,854,000

Benchmark

2025-V16

Mortgage

Trust,

Series

V16,

Class

A3,

5.44%,

8/15/57

$

2,965,842

891,000

Fannie

Mae,

Series

2013-70,

Class

CY,

3.50%,

7/25/43

$

781,094

407,254

Fannie

Mae,

Series

2011-38,

Class

D,

4.50%,

5/25/41

(d) $

411,740

128,882

Freddie

Mac,

Series

3632,

Class

PK,

5.00%,

2/15/40

$

131,518

4,134,900

Freddie

Mac,

Series

5499,

Class

A,

5.50%,

10/25/52

$

4,199,496

3,483,525

Freddie

Mac,

Series

5427,

Class

HZ,

3.50%,

8/15/42

$

2,913,086

7,235,095

Freddie

Mac,

Series

5300,

Class

AB,

5.50%,

1/25/49

$

7,333,463

1,013,121

Freddie

Mac,

Series

4427,

Class

KA,

2.25%,

7/15/44

$

963,075

12,906,254

Freddie

Mac,

1.50%,

7/25/50

$

10,302,474

324,000

Freddie

Mac,

Series

4160,

Class

HH,

2.50%,

12/15/32

$

309,031

361,236

Freddie

Mac,

Series

4136,

Class

HZ,

3.50%,

11/15/27

$

359,684

6,956,976

Freddie

Mac,

Series

4112,

Class

PB,

4.00%,

9/15/42

$

6,726,307

719,767

Freddie

Mac,

Series

3762,

Class

LN,

4.00%,

11/15/40

$

693,356

214,784

Freddie

Mac,

Series

4328,

Class

KD,

3.00%,

8/15/43

$

209,079

92,058

Ginnie

Mae,

Series

2008-51,

Class

PG,

5.00%,

6/20/38

$

94,731

2,203,296

Ginnie

Mae,

Series

2014-2,

Class

AG,

2.30%,

3/20/40

$

2,003,552

9,810,982

Ginnie

Mae,

Series

154,

Class

GA,

6.00%,

4/20/50

$

10,080,086

7,775,958

Ginnie

Mae,

Series

132,

Class

DV,

6.00%,

7/20/34

$

7,925,735

9,317,666

Progress

Residential

Trust,

Series

SFR1,

Class

A,

3.40%,

2/17/42

(b) $

8,939,835

7,364,000

Vantage

Data

Centers

LLC,

Series

1A,

Class

A2,

5.13%,

8/15/55

b)

$

7,278,252

Sterling

Capital

Total

Return

Bond

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

COLLATERALIZED

MORTGAGE

OBLIGATIONS

—

(continued)

4,651,000

Wells

Fargo

Commercial

Mortgage

Trust

2025-5C5,

Series

5C5,

Class

A3,

5.59%,

7/15/58

$

4,857,371

6,180,000

Wells

Fargo

Commercial

Mortgage

Trust

2025-5C6,

Series

5C6,

Class

A3,

5.19%,

10/15/58

(e) $

6,355,534

Total

(Cost $92,827,690)

$

94,069,300

Principal

Amount

Fair

Value

MORTGAGE-BACKED

SECURITIES

—

29.08%

Fannie

Mae

—

17.49%

155,432

4.50%,

12/01/40,

Pool

#AH1100

156,609

12,322,838

3.50%,

4/01/52,

Pool

#FS1475

11,529,306

7,196,981

4.50%,

6/01/52,

Pool

#FS2157

7,118,276

5,666,525

4.50%,

11/01/52,

Pool

#FS3809

5,594,508

6,123,994

5.50%,

3/01/53,

Pool

#FS3925

6,285,049

12,950,088

3.50%,

9/01/50,

Pool

#FS5284

12,095,800

8,212,866

5.50%,

5/01/53,

Pool

#FS4571

8,400,959

13,233,599

5.00%,

5/01/53,

Pool

#FS4929

(d) 13,400,633

9,379,572

5.50%,

7/01/53,

Pool

#FS5589

9,591,027

7,921,271

6.00%,

6/01/53,

Pool

#FS6616

8,150,409

23,464,926

,

Series

23.00%,

6/01/52,

Pool

#FS8022

(d) 21,024,413

3,977,357

4.00%,

8/01/51,

Pool

#FS8708

3,828,474

6,308,109

5.50%,

11/01/54,

Pool

#FS9801

6,413,360

9,689,316

3.50%,

4/01/52,

Pool

#FS1185

8,984,891

160,045

5.50%,

8/01/37,

Pool

#995082

166,928

347,852

3.50%,

6/01/42,

Pool

#AB5373

331,843

282,525

3.50%,

5/01/43,

Pool

#AB9368

269,258

48,746

4.50%,

10/01/39,

Pool

#AC2645

48,831

667,153

4.00%,

12/01/33,

Pool

#MA1689

662,362

530,763

4.00%,

6/01/46,

Pool

#MA2653

513,167

393,606

4.00%,

6/01/34,

Pool

#MA1922

391,598

140,345

4.50%,

11/01/44,

Pool

#MA2100

140,087

520,003

4.50%,

1/01/45,

Pool

#MA2158

519,046

363,524

4.00%,

3/01/35,

Pool

#MA2211

360,465

590,405

4.00%,

3/01/45,

Pool

#MA2217

(d) 571,933

649,703

4.00%,

11/01/46,

Pool

#MA2808

628,162

9,989,230

1.50%,

12/01/40,

Pool

#MA4202

8,544,802

96,932

4.50%,

3/01/41,

Pool

#AB2467

97,522

1,566,539

4.00%,

5/01/52,

Pool

#FS1790

1,492,490

Sterling

Capital

Total

Return

Bond

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

MORTGAGE-BACKED

SECURITIES

—

(continued)

Fannie

Mae

—

(continued)

4,037,791

4.00%,

8/01/40,

Pool

#FM4673

4,008,650

9,935,542

3.00%,

3/01/50,

Pool

#FM2870

8,981,770

172,514

4.50%,

5/01/41,

Pool

#AI1023

172,188

120,846

4.50%,

11/01/41,

Pool

#AJ4994

121,594

135,097

4.50%,

12/01/41,

Pool

#AJ7696

135,878

593,018

3.50%,

5/01/43,

Pool

#AL3605

561,331

480,829

4.50%,

7/01/46,

Pool

#AS7568

479,350

785,505

3.50%,

8/01/43,

Pool

#AU0613

748,354

815,649

4.00%,

5/01/47,

Pool

#BE9598

781,288

1,096,478

4.00%,

8/01/47,

Pool

#BH5117

1,059,951

2,742,821

4.00%,

4/01/48,

Pool

#BM3900

2,647,367

2,541,150

3.00%,

11/01/48,

Pool

#BM5822

2,300,676

8,614,987

4.50%,

11/01/48,

Pool

#BM7046

8,615,103

7,097,262

2.50%,

9/01/50,

Pool

#BQ0538

6,046,825

1,017,978

5.00%,

8/01/48,

Pool

#CA2219

1,034,110

3,481,141

3.50%,

10/01/49,

Pool

#CA4431

3,247,679

5,884,460

2.00%,

7/01/50,

Pool

#CA6301

4,826,599

2,937,665

3.00%,

10/01/50,

Pool

#CA7381

2,607,212

4,158,473

2.50%,

11/01/50,

Pool

#CA7684

3,564,443

3,677,562

3.00%,

11/01/51,

Pool

#CB2170

3,263,496

5,481,946

5.00%,

11/01/52,

Pool

#CB5278

5,502,252

13,125,423

6.00%,

9/01/53,

Pool

#CB7124

(d) 13,742,141

6,840,304

4.50%,

5/01/53,

Pool

#CB6304

6,756,429

12,681,208

6.00%,

6/01/54,

Pool

#CB8755

13,070,162

12,587,653

2.50%,

6/01/52,

Pool

#FA0543

10,880,328

10,236,316

6.00%,

4/01/54,

Pool

#FA0566

10,573,118

6,888,267

5.00%,

5/01/55,

Pool

#FA1475

6,888,503

1,848,733

3.50%,

8/01/38,

Pool

#FM2472

1,791,937

5,108,268

3.00%,

3/01/50,

Pool

#FM2714

4,568,475

75,771

5.00%,

6/01/40,

Pool

#AD4927

77,920

82,058

5.00%,

6/01/40,

Pool

#AD8718

84,385

$

266,451,722

Federal

Farm

Credit

Banks

Funding

Corp.

—

0.29%

5,325,000

2.40%,

3/24/36

4,408,224

—

Sterling

Capital

Total

Return

Bond

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

MORTGAGE-BACKED

SECURITIES

—

(continued)

Freddie

Mac

—

10.98%

27,082

5.00%,

2/01/37,

Pool

#ZI5759

27,849

7,896,690

4.50%,

8/01/52,

Pool

#SD1515

7,796,617

10,242,788

4.50%,

4/01/53,

Pool

#SD2639

10,099,169

9,971,883

3.50%,

6/01/52,

Pool

#SD2670

9,362,645

2,603,585

5.00%,

3/01/53,

Pool

#SD2390

2,615,225

13,371,208

5.50%,

3/01/53,

Pool

#SD2774

(d) 13,693,245

10,040,380

4.00%,

3/01/53,

Pool

#SD3107

9,582,921

3,954,754

5.50%,

12/01/54,

Pool

#SD6940

4,058,313

188,807

3.00%,

1/01/51,

Pool

#SD8123

167,802

1,035,759

3.00%,

12/01/51,

Pool

#SD8184

924,263

8,434,543

4.00%,

8/01/52,

Pool

#SD3617

8,135,807

7,887,441

5.00%,

10/01/52,

Pool

#SD1710

7,904,459

9,136,347

5.00%,

8/01/53,

Pool

#SD3814

9,143,533

2,072,015

3.00%,

11/01/49,

Pool

#QA4336

1,859,444

7,758,587

5.50%,

2/01/53,

Pool

#QF8052

7,922,514

1,836,418

3.50%,

6/01/50,

Pool

#RA2794

1,714,453

7,610,822

2.50%,

7/01/50,

Pool

#RA2970

6,507,950

4,289,896

3.50%,

4/01/52,

Pool

#RA7191

3,983,349

8,310,630

4.00%,

5/01/52,

Pool

#RA7306

7,932,617

8,192,772

5.00%,

9/01/52,

Pool

#RA7936

8,265,571

3,587,624

3.00%,

5/01/40,

Pool

#RB5049

3,351,565

5,012,938

2.00%,

12/01/40,

Pool

#RB5090

4,385,912

3,384,521

6.00%,

3/01/55,

Pool

#SL0528

3,476,739

1,433,594

5.00%,

9/01/53,

Pool

#SD4220

1,447,680

426,926

4.00%,

2/01/48,

Pool

#ZT1639

412,770

407,079

4.00%,

6/01/48,

Pool

#ZT0541

393,517

112,505

3.50%,

7/01/30,

Pool

#ZS8575

111,705

25,297

4.50%,

10/01/39,

Pool

#ZI9349

25,354

201,772

5.00%,

7/01/40,

Pool

#ZJ0194

207,495

19,986

2.50%,

1/01/28,

Pool

#ZK4918

19,714

227,445

3.50%,

5/01/43,

Pool

#ZL5915

216,765

1,223,380

3.50%,

1/01/45,

Pool

#ZL8964

1,164,391

111,713

4.00%,

9/01/44,

Pool

#ZL8439

107,118

1,794,594

3.50%,

9/01/47,

Pool

#ZM4305

1,690,822

504,380

3.50%,

1/01/48,

Pool

#ZM5375

474,374

82,082

5.00%,

6/01/40,

Pool

#ZA1049

84,410

Sterling

Capital

Total

Return

Bond

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

MORTGAGE-BACKED

SECURITIES

—

(continued)

Freddie

Mac

—

(continued)

24,164

5.00%,

9/01/40,

Pool

#ZA1066

24,849

1,196,999

3.50%,

11/01/36,

Pool

#ZA2439

1,160,758

696,451

4.00%,

4/01/36,

Pool

#ZA2413

688,024

518,975

3.50%,

8/01/36,

Pool

#ZA2425

504,124

1,029,832

4.00%,

5/01/37,

Pool

#ZA2461

1,015,615

115,948

4.00%,

5/01/44,

Pool

#ZA4468

112,392

6,177

5.00%,

7/01/36,

Pool

#ZS1139

6,349

301,577

4.00%,

12/01/42,

Pool

#ZS3671

293,452

21,281

5.00%,

3/01/36,

Pool

#ZS4230

21,861

69,202

6.50%,

9/01/36,

Pool

#ZS4257

73,102

60,266

4.00%,

7/01/44,

Pool

#ZS4573

58,492

1,209,079

3.50%,

5/01/46,

Pool

#ZS4663

1,143,778

342,306

4.00%,

8/01/46,

Pool

#ZS4673

330,958

825,776

3.50%,

9/01/46,

Pool

#ZS4678

783,184

14,070,432

4.50%,

4/01/53,

Pool

#SL1072

(d) 13,832,268

7,608,529

5.50%,

8/01/55,

Pool

#SL1812

7,807,766

$

167,125,049

Ginnie

Mae

I

—

0.00%

39,910

5.00%,

2/15/40,

Pool

#737037

41,016

—

Ginnie

Mae

II

—

0.32%

5,110,712

4.00%,

7/20/52,

Pool

#786280

4,845,214

—

Total

(Cost $448,778,329)

442,871,225

Principal

Amount

Fair

Value

U.S.

TREASURY

BONDS

&

NOTES

—

9.41%

68,657,700

United

States

Treasury

Bond,

2.50 %

,

2/15/45

48,623,597

63,348,000

United

States

Treasury

Bond,

1.38 %

,

8/15/50

31,146,925

6,599,200

United

States

Treasury

Bond,

4.13 %

,

11/15/32

6,674,730

19,109,600

United

States

Treasury

Bond,

4.00 %

,

2/15/34

19,049,883

41,942,200

United

States

Treasury

Bond,

4.25 %

,

8/15/54

37,921,646

Total

(Cost $145,307,821)

143,416,781

Principal

Amount

Fair

Value

U.S.

GOVERNMENT

&

AGENCIES

—

0.96%

14,527,800

United

States

Treasury

Inflation

Indexed

Bonds,

1.88 %

,

7/15/35

14,692,182

Sterling

Capital

Total

Return

Bond

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

U.S.

GOVERNMENT

&

AGENCIES

—

(continued)

Total

(Cost $14,956,816)

$

14,692,182

Shares

Fair

Value

MONEY

MARKET

FUNDS

—

0.34%

5,251,998

Federated

Hermes

Treasury

Obligations

Fund,

Institutional

Shares,

3.67%

(g) 5,251,998

Total

Money

Market

Funds

(Cost

$5,251,998)

5,251,998

Total

Investments—

99.90%

(Cost

$1,528,323,921)

1,522,114,567

Other

Assets

in

Excess

of

Liabilities

—

0.10%

1,460,690

NET

ASSETS

—

100.00%

$

1,523,575,257

(a) Non-income

producing

security.

(b) Security

exempt

from

registration

under

Rule

144A

or

Section

4(2)

of

the

Securities

Act

of

1933. The

security

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

The

Advisor,

using

Board

approved

procedures,

has

deemed

these

securities

or

a

portion

of

these

securities

to

be

liquid.

(c) The

interest

rate

for

this

variable

rate

note,

which

will

change

periodically,

is

based

either

on

the

prime

rate

or

an

index

of

market

rates.

The

reflected

rate

is

in

effect

as

of

December

31,

2025. The

maturity

date

reflected

is

the

final

maturity

date.

(d) All

or

a

portion

of

the

securities

are

held

in

a

separate

collateral

account

at

US

Bank.

The

total

value

of

securities

held

in

a

separate

collateral

account

as

of

the

period

ended

December

31,

2025

is

$87,515,603,

which

represents

5.7%

of

net

assets.

(e) The

security

was

purchased

on a

when-issued

of

forward

commitment

basis.

(f) Security

is

a

fix-to-float

security,

which

carries

a

fixed

coupon

until

a

certain

date,

upon

which

it

switches

to

a

floating

rate.

Rate

shown

is

the

fixed

rate.

(g) Represents

the

current

yield

as

of

report

date.

G.O.

-

General

Obligation

Sterling

Capital

Total

Return

Bond

Fund

Futures

Schedule

of

Investments

December

31,

2025

(Unaudited)

FUTURES

CONTRACTS

Contracts

Expiration

Date

Notional

Value

Aggregate

Market

Value

of

Contracts

Unrealized

Appreciation

(Depreciation)

CBOT

Year

US

Treasury

Note

Future

03/31/2026

$

78,325,200

$

78,295,898

$

(29,302)

CBOT

Year

US

Treasury

Note

03/31/2026

54,287,640

54,105,821

(181,819)

Total

Futures

Contracts

$

132,612,840

$

132,401,719

$

(211,121)

Sterling

Capital

Long

Duration

Corporate

Bond

Fund

Schedule

of

Investments

December

31,

2025

(Unaudited)

c

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

94.49%

AEROSPACE

&

DEFENSE

—

3.33%

$

268,000

Boeing

Co.

(The),

5.71%,

5/01/40

$

273,568

125,000

Boeing

Co.

(The),

5.93%,

5/01/60

122,570

411,000

Boeing

Co.

(The),

6.86%,

5/01/54

461,609

34,000

L3Harris

Technologies

Inc,

6.15%,

12/15/40

36,985

207,000

L3Harris

Technologies,

Inc.,

5.60%,

7/31/53

205,345

194,000

Lockheed

Martin

Corp.,

4.15%,

6/15/53

155,044

320,000

RTX

Corp,

4.35%,

4/15/47

271,174

212,000

RTX

Corp.,

2.82%,

9/01/51

132,215

1,658,510

ASSET

MANAGEMENT

—

0.68%

146,000

Ares

Management

Corp.,

5.60%,

10/11/54

138,290

95,000

Blue

Owl

Finance

LLC,

Series

C10,

4.13%,

10/07/51

66,585

35,000

Brookfield

Asset

Management

Ltd,

6.08%,

9/15/55

35,777

148,000

KKR

Group

Finance

Co.

X

LLC,

3.25%,

12/15/51

(a) 98,198

338,850

AUTOMOTIVE

—

0.56%

173,000

Ford

Motor

Co.,

4.75%,

1/15/43

137,004

134,000

General

Motors

Co,

6.75%,

4/01/46

143,540

280,544

BANKS

—

7.54%

187,000

Bank

of

America

Corp.,

4.24%,

4/24/38

174,398

114,000

Bank

of

America

Corp.,

2.48%,

9/21/36

100,042

232,000

Bank

of

America

Corp.,

4.33%,

3/15/50

(TSFR3M

+

bps)

(b) 194,899

471,000

Bank

of

America

Corp.,

2.68%,

6/19/41

347,282

204,000

Barclays

PLC,

3.33%,

11/24/42

(H15T1Y

+

bps)

(b) 157,395

136,000

Charles

Schwab

Corp.

(The),

Series

H,

4.00%,

12/31/49

(H15T10Y

+

307.90 bps)

(b)(c) 126,968

114,000

Citigroup,

Inc.,

5.88%,

1/30/42

119,876

81,000

Citigroup,

Inc.,

3.88%,

1/24/39

71,658

66,000

Citigroup,

Inc.,

5.32%,

3/26/41

66,084

96,000

FifthThird

Bancorp,

8.25%,

3/01/38

117,877

100,000

HSBC

Holdings

PLC,

6.80%,

6/01/38

111,134

315,000

JPMorgan

Chase

&

Co.,

3.16%,

4/22/42

244,677

365,000

JPMorgan

Chase

&

Co.,

3.11%,

4/22/41

(TSFR3M

+

bps)

(b) 286,575

119,000

JPMorgan

Chase

&

Co.,

5.53%,

11/29/45

(b) 120,813

161,000

JPMorgan

Chase

&

Co.,

4.26%,

2/22/48

136,660

122,000

JPMorgan

Chase

&

Co.,

3.88%,

7/24/38

(TSFR3M

+

bps)

(b) 109,527

200,000

Lloyds

Banking

Group

PLC,

3.37%,

12/14/46

147,327

264,000

Morgan

Stanley,

3.97%,

7/22/38

237,925

143,000

Morgan

Stanley,

2.48%,

9/16/36

125,742

126,000

S&P

Global,

Inc.,

3.70%,

3/01/52

95,415

143,000

Wells

Fargo

&

Co.,

3.07%,

4/30/41

110,909

Sterling

Capital

Long

Duration

Corporate

Bond

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

BANKS

—

(continued)

$

363,000

Wells

Fargo

&

Co.,

5.38%,

11/02/43

$

352,100

117,000

Wells

Fargo

&

Co.

,

5.01%,

4/04/51

(TSFR3M

+

bps)

(b) 106,922

128,000

Westpac

Banking

Corp.,

2.96%,

11/16/40

97,523

3,759,728

BEVERAGES

—

2.85%

227,000

Anheuser-Busch

Cos.

LLC,

4.90%,

2/01/46

209,950

401,000

Anheuser-Busch

InBev

Worldwide

Inc.,

5.55%,

1/23/49

400,121

300,000

Bacardi

Ltd.,

5.30%,

5/15/48

(a) 267,024

214,000

Constellation

Brands,

Inc.,

3.75%,

5/01/50

155,817

144,000

Diageo

Capital

PLC,

3.88%,

4/29/43

117,909

154,000

PepsiCo,

Inc.,

2.75%,

10/21/51

96,623

194,000

PepsiCo,

Inc.,

4.65%,

2/15/53

170,867

1,418,311

BIOTECH

&

PHARMA

—

1.57%

59,000

AbbVie

Inc.,

5.60%,

3/15/55

59,106

233,000

CSL

Finance

PLC,

4.75%,

4/27/52

(a) 200,994

91,000

CSL

Finance

PLC,

5.42%,

4/03/54

(a) 86,476

200,000

Roche

Holdings

Inc.,

5.22%,

3/08/54

(a) 193,792

200,000

Roche

Holdings,

Inc.,

2.61%,

12/13/51

(a) 121,981

110,000

Wyeth

LLC,

5.95%,

4/01/37

118,345

780,694

BIOTECHNOLOGY

—

3.18%

131,000

AbbVie,

Inc.,

4.40%,

11/06/42

116,525

202,000

AbbVie,

Inc.,

4.45%,

5/14/46

175,575

134,000

AbbVie,

Inc.,

4.05%,

11/21/39

119,617

116,000

AbbVie,

Inc.,

5.40%,

3/15/54

112,772

56,000

Amgen,

Inc.,

5.15%,

11/15/41

54,185

114,000

Amgen,

Inc.,

2.77%,

9/01/53

67,639

171,000

Amgen,

Inc.,

4.40%,

2/22/62

133,566

308,000

Amgen,

Inc.,

5.60%,

3/02/43

309,711

218,000

Amgen,

Inc.,

5.65%,

3/02/53

213,465

129,000

Baxalta,

Inc.,

5.25%,

6/23/45

123,115

213,000

Gilead

Sciences,

Inc.,

2.60%,

10/01/40

157,571

1,583,741

CABLE

&

SATELLITE

—

2.53%

481,000

Charter

Communications

Operating

LLC,

6.48%,

10/23/45

452,220

196,000

Charter

Communications

Operating

LLC,

6.83%,

10/23/55

188,131

269,000

Charter

Communications

Operating

LLC,

4.40%,

12/01/61

175,933

182,000

Comcast

Corp,

4.00%,

3/01/48

136,900

207,000

Time

Warner

Cable

LLC,

6.55%,

5/01/37

211,235

103,000

Time

Warner

Cable

LLC,

5.88%,

11/15/40

95,311

1,259,730

Sterling

Capital

Long

Duration

Corporate

Bond

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

CAPITAL

MARKETS

—

1.02%

$

146,000

Goldman

Sachs

Group,

Inc.

(The),

6.75%,

10/01/37

$

162,991

215,000

Intercontinental

Exchange,

Inc.,

4.25%,

9/21/48

179,269

160,000

Jefferies

Financial

Group,

Inc.,

6.50%,

1/20/43

166,430

508,690

COMMERCIAL

SERVICES

&

SUPPLIES

—

0.23%

175,000

Republic

Services,

Inc.,

2.95%,

1/15/52

113,310

COMMUNICATIONS

EQUIPMENT

—

0.14%

73,000

Cisco

Systems,

Inc.,

5.30%,

2/26/54

69,972

CONSTRUCTION

MATERIALS

—

0.45%

60,000

CRH

America

Finance,

Inc.,

5.60%,

2/09/56

59,130

88,000

Martin

Marietta

Materials,

Inc.,

4.25%,

12/15/47

72,645

106,000

Vulcan

Materials

Co.,

4.50%,

6/15/47

90,688

222,463

CONTAINERS

&

PACKAGING

—

0.63%

27,000

Packaging

Corp.

of

America,

4.05%,

12/15/49

21,403

139,000

Packaging

Corp.

of

America,

3.05%,

10/01/51

90,424

200,000

Smurfit

Kappa

Treasury

ULC,

5.78%,

4/03/54

(a) 200,929

312,756

DIVERSIFIED

FINANCIAL

SERVICES

—

0.46%

116,000

Apollo

Global

Management,

Inc.,

5.80%,

5/21/54

113,890

140,000

Corebridge

Financial,

Inc.,

4.40%,

4/05/52

113,576

227,466

DIVERSIFIED

TELECOMMUNICATION

SERVICES

—

3.08%

287,000

AT&T,

Inc.,

3.50%,

6/01/41

225,753

547,000

AT&T,

Inc.,

3.85%,

6/01/60

375,280

345,000

AT&T,

Inc.,

3.65%,

9/15/59

227,513

150,000

Deutsche

Telekom

AG,

3.63%,

1/21/50

(a) 108,151

204,000

Verizon

Communications,

Inc.,

5.25%,

3/16/37

205,340

127,000

Verizon

Communications,

Inc.,

2.65%,

11/20/40

90,645

275,000

Verizon

Communications,

Inc.,

3.70%,

3/22/61

185,563

149,000

Verizon

Communications,

Inc.,

3.40%,

3/22/41

116,669

1,534,914

E-COMMERCE

DISCRETIONARY

—

0.30%

150,000

Amazon.com,

Inc.,

4.65%,

11/20/35

149,393

ELECTRIC

UTILITIES

—

14.15%

229,000

AEP

Transmission

Co.

LLC,

3.65%,

4/01/50

(d) 169,755

58,000

Alabama

Power

Co,

5.50%,

3/15/41

57,885

100,000

Alabama

Power

Co.,

3.70%,

12/01/47

(d) 76,323

106,000

Appalachian

Power

Co,

4.50%,

3/01/49

86,853

74,000

Appalachian

Power

Co.,

5.80%,

10/01/35

78,340

161,000

Baltimore

Gas

and

Electric

Co.,

2.90%,

6/15/50

102,983

113,000

Berkshire

Hathaway

Energy

Co.,

4.25%,

10/15/50

90,359

123,000

Berkshire

Hathaway

Energy

Co.,

4.60%,

5/01/53

103,562

83,000

CenterPoint

Energy

Houston

Electric

LLC,

4.25%,

2/01/49

68,716

Sterling

Capital

Long

Duration

Corporate

Bond

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

ELECTRIC

UTILITIES

—

(continued)

$

235,000

CenterPoint

Energy

Houston

Electric

LLC,

2.90%,

7/01/50

(d) $

151,367

66,000

Commonwealth

Edison

Co.,

5.90%,

3/15/36

70,873

155,000

Commonwealth

Edison

Co.,

3.13%,

3/15/51

102,792

113,000

Connecticut

Light

and

Power

Co.

(The),

4.00%,

4/01/48

89,976

184,000

Consolidated

Edison

Co.

of

New

York,

Inc.,

4.45%,

3/15/44

160,403

79,000

Consolidated

Edison

Co.

of

New

York,

Inc.,

4.65%,

12/01/48

68,384

145,000

Dominion

Energy

South

Carolina,

Inc.,

5.10%,

6/01/65

128,469

97,000

DTE

Electric

Co.,

5.85%,

5/15/55

99,549

118,000

DTE

Electric

Co.,

3.75%,

8/15/47

90,470

147,000

DTE

Electric

Co.,

3.65%,

3/01/52

108,222

124,000

Duke

Energy

Carolinas

LLC,

6.10%,

6/01/37

133,518

117,000

Duke

Energy

Carolinas

LLC,

5.35%,

1/15/53

112,241

178,000

Duke

Energy

Corp.,

5.00%,

8/15/52

157,144

92,000

Duke

Energy

Corp.,

6.10%,

9/15/53

95,296

74,000

Duke

Energy

Florida

LLC,

6.35%,

9/15/37

82,129

285,000

Duke

Energy

Indiana

LLC,

3.75%,

5/15/46

222,024

120,000

Duke

Energy

Ohio,

Inc.,

3.70%,

6/15/46

91,352

178,000

Duke

Energy

Progress

LLC,

2.90%,

8/15/51

112,012

184,000

Duke

Energy

Progress

LLC,

5.55%,

3/15/55

181,497

240,000

Entergy

Louisiana

LLC,

5.70%,

3/15/54

238,385

35,000

Entergy

Mississippi

LLC,

5.80%,

4/15/55

35,207

245,000

Entergy

Texas,

Inc.,

3.55%,

9/30/49

174,670

81,000

Entergy

Texas,

Inc.,

5.80%,

9/01/53

80,826

76,000

Exelon

Corp.,

5.10%,

6/15/45

70,272

125,000

Exelon

Corp.,

4.45%,

4/15/46

104,861

154,000

FirstEnergy

Corp.,

4.85%,

7/15/47

135,572

80,000

FirstEnergy

Transmission

LLC,

4.55%,

4/01/49

(a) 67,954

120,000

Florida

Power

&

Light

Co.,

5.80%,

3/15/65

121,902

68,000

Florida

Power

&

Light

Co.,

5.85%,

5/01/37

71,882

100,000

Florida

Power

&

Light

Co.,

4.13%,

2/01/42

86,873

85,000

Florida

Power

&

Light

Co.,

5.60%,

2/15/66

83,667

290,000

Georgia

Power

Co.,

3.70%,

1/30/50

216,782

150,000

Indiana

Michigan

Power

Co.,

5.63%,

4/01/53

148,422

107,000

Massachusetts

Electric

Co.,

5.90%,

11/15/39

(a) 112,181

110,000

MidAmerican

Energy

Co.,

4.80%,

9/15/43

100,027

109,000

MidAmerican

Energy

Co.,

2.70%,

8/01/52

66,610

197,000

NextEra

Energy

Capital

Holdings,

Inc.,

5.55%,

3/15/54

190,282

55,000

Northern

States

Power

Co.,

4.50%,

6/01/52

46,718

109,000

Oncor

Electric

Delivery

Co.

LLC,

4.95%,

9/15/52

97,074

159,000

PECO

Energy

Co.,

2.85%,

9/15/51

99,105

140,000

Public

Service

Electric

&

Gas

Co.

,

5.38%,

11/01/39

141,944

78,000

Public

Service

Electric

and

Gas

Co.,

5.45%,

8/01/53

76,169

91,000

Public

Service

Electric

and

Gas

Co.,

5.50%,

3/01/55

89,232

Sterling

Capital

Long

Duration

Corporate

Bond

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

ELECTRIC

UTILITIES

—

(continued)

$

65,000

Puget

Sound

Energy,

Inc.,

5.64%,

4/15/41

$

64,937

133,000

Puget

Sound

Energy,

Inc.,

2.89%,

9/15/51

84,356

141,000

San

Diego

Gas

&

Electric

Co.,

4.10%,

6/15/49

111,572

132,000

San

Diego

Gas

&

Electric

Co.,

3.32%,

4/15/50

90,927

137,000

Union

Electric

Co.,

3.25%,

10/01/49

93,576

70,000

Union

Electric

Co.,

5.45%,

3/15/53

67,469

61,000

Virginia

Electric

and

Power

Co,

5.60%,

9/15/55

59,246

161,000

Virginia

Electric

and

Power

Co.,

4.00%,

1/15/43

131,782

189,000

Virginia

Electric

and

Power

Co.,

5.65%,

3/15/55

185,049

584,000

Xcel

Energy,

Inc.,

3.50%,

12/01/49

418,413

7,056,438

ELECTRICAL

EQUIPMENT

—

0.50%

76,000

Amphenol

Corp,

4.63%,

2/15/36

74,459

185,000

Amphenol

Corp,

5.30%,

11/15/55

176,733

251,192

ENERGY

EQUIPMENT

&

SERVICES

—

0.17%

84,000

Halliburton

Co.,

4.85%,

11/15/35

82,880

ENTERTAINMENT

—

0.10%

77,000

Walt

Disney

Co.

(The),

2.75%,

9/01/49

48,880

EQUITY

REAL

ESTATE

-INVESTMENT

TRUSTS

-(REITS)

—

0.23%

161,000

NNN

REIT,

Inc.,

3.50%,

4/15/51

113,373

FINANCIAL

SERVICES

—

1.09%

75,000

BlackRock

Funding,

Inc.,

5.35%,

1/08/55

73,097

37,000

BlackRock

Funding,

Inc.,

5.25%,

3/14/54

35,461

101,000

Blackstone

Holdings

Finance

Co.

LLC,

6.25%,

8/15/42

(a) 106,583

69,000

Carlyle

Holdings

II

Finance

LLC,

5.63%,

3/30/43

(a) 67,708

70,000

KKR

Group

Finance

Co.

III

LLC,

5.13%,

6/01/44

(a) 65,387

200,000

UBS

Group

AG,

5.38%,

9/06/45

(USISSO01

+

bps)

(a)(b) 196,206

544,442

FOOD

—

1.61%

71,000

Cargill,

Inc.,

4.76%,

11/23/45

(a) 64,137

118,000

Cargill,

Inc.,

4.38%,

4/22/52

(a) 97,853

69,000

Kraft

Heinz

Foods

Co.,

5.00%,

6/04/42

63,314

182,000

Kraft

Heinz

Foods

Co.,

4.88%,

10/01/49

156,583

424,000

Mars,

Inc.,

5.70%,

5/01/55

(a) 422,359

804,246

FOOD

&

STAPLES

RETAILING

—

0.23%

157,000

Kenvue

,

Inc.,

2.50%,

9/22/41

113,758

GAS

&

WATER

UTILITIES

—

0.52%

61,000

Atmos

Energy

Corp,

5.45%,

1/15/56

(e) 59,014

309,000

Southern

Co

Gas

Capital

Corp.,

3.15%,

9/30/51

200,338

259,352

Sterling

Capital

Long

Duration

Corporate

Bond

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

GAS

UTILITIES

—

0.15%

$

88,000

Atmos

Energy

Corp.,

4.13%,

10/15/44

$

74,203

HEALTH

CARE

EQUIPMENT

&

SUPPLIES

—

0.50%

70,000

Abbott

Laboratories,

4.90%,

11/30/46

(d) 65,909

100,000

GE

HealthCare

Technologies,

Inc.,

6.38%,

11/22/52

109,046

84,000

Stryker

Corp.,

4.63%,

3/15/46

75,004

249,959

HEALTH

CARE

FACILITIES

&

SERVICES

—

1.29%

69,000

CVS

Health

Corp.,

6.20%,

9/15/55

70,059

196,000

HCA,

Inc.,

5.50%,

6/15/47

185,222

162,000

HCA,

Inc.,

3.50%,

7/15/51

109,804

116,000

HCA,

Inc.,

6.00%,

4/01/54

115,321

218,000

UnitedHealth

Group

Inc.,

2.75%,

5/15/40

163,035

643,441

HEALTH

CARE

PROVIDERS

&

SERVICES

—

1.70%

229,000

CVS

Health

Corp.,

5.13%,

7/20/45

206,742

70,000

CVS

Health

Corp.,

5.88%,

6/01/53

67,970

194,000

Elevance

Health,

Inc.,

4.38%,

12/01/47

161,028

154,000

UnitedHealth

Group,

Inc.,

3.75%,

10/15/47

117,586

226,000

UnitedHealth

Group,

Inc.,

3.50%,

8/15/39

188,181

123,000

UnitedHealth

Group,

Inc.,

4.95%,

5/15/62

106,489

847,996

HOTELS,

RESTAURANTS

&

LEISURE

—

0.98%

191,000

McDonald's

Corp.,

4.88%,

12/09/45

174,060

196,000

McDonald's

Corp.,

3.63%,

9/01/49

144,234

242,000

Starbucks

Corp.,

3.50%,

11/15/50

169,843

488,137

HOUSEHOLD

PRODUCTS

—

0.39%

250,000

Haleon

US

Capital

LLC,

4.00%,

3/24/52

196,302

INDEPENDENT

POWER/RENEWABLE

ELECTRICITY

PRODUCERS

—

0.12%

70,000

Tennessee

Valley

Authority,

4.25%,

9/15/52

59,502

INSTITUTIONAL

FINANCIAL

SERVICES

—

0.24%

107,000

Morgan

Stanley,

6.38%,

7/24/42

119,084

INSURANCE

—

5.04%

122,000

Aon

Corp

/

Aon

Global

Holdings

PLC,

3.90%,

2/28/52

91,273

134,000

Athene

Holding

Ltd.,

3.45%,

5/15/52

84,727

165,000

Athene

Holding

Ltd.,

6.63%,

10/15/54

164,687

301,000

Athene

Holding

Ltd.,

6.25%,

4/01/54

292,714

76,000

Berkshire

Hathaway

Finance

Corp.,

4.20%,

8/15/48

63,425

60,000

Berkshire

Hathaway

Finance

Corp.,

3.85%,

3/15/52

46,170

164,000

Corebridge

Financial,

Inc.,

6.38%,

9/15/54

(H15T5Y

+

264.60 bps)

(b) 165,253

123,000

Enstar

Finance

LLC,

5.50%,

1/15/42

(H15T5Y

+

400.60 bps)

(b) 121,140

122,000

Fidelity

National

Financial,

Inc.,

3.20%,

9/17/51

77,101

Sterling

Capital

Long

Duration

Corporate

Bond

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

INSURANCE

—

(continued)

$

140,000

Global

Atlantic

Fin

Co.,

6.75%,

3/15/54

(a) $

143,018

125,000

Global

Atlantic

Fin

Co.,

7.25%,

3/01/56

(a) 125,586

76,000

Guardian

Life

Insurance

Co.

of

America

(The),

4.88%,

6/19/64

(a) 64,995

91,000

New

York

Life

Insurance

Co.,

6.75%,

11/15/39

(a) 103,855

115,000

New

York

Life

Insurance

Co.,

4.45%,

5/15/69

(a) 89,585

93,000

New

York

Life

Insurance

Co.,

3.75%,

5/15/50

(a) 68,931

124,000

Northwestern

Mutual

Life

Insurance

Co.

(The),

3.45%,

3/30/51

(a) 86,450

36,000

Northwestern

Mutual

Life

Insurance

Co.

(The),

6.17%,

5/29/55

(a) 38,207

132,000

Pacific

LifeCorp

,

3.35%,

9/15/50

(a) 90,903

130,000

Prudential

Financial,

Inc.,

3.70%,

10/01/50

(H15T5Y

+

303.50 bps)

(b) 120,918

119,000

SBL

Holdings,

Inc.,

7.20%,

10/30/34

(a) 115,222

76,000

Securian

Financial

Group,

Inc.,

4.80%,

4/15/48

(a) 66,028

116,000

Teachers

Insurance

&

Annuity

Ass.

of

America,

6.85%,

12/16/39

(a) 133,016

57,000

Transatlantic

Holdings,

Inc.,

8.00%,

11/30/39

71,193

150,000

W

R

Berkley

Corp.,

3.15%,

9/30/61

88,675

2,513,072

INTERACTIVE

MEDIA

&

SERVICES

—

0.88%

89,000

Meta

Platforms,

Inc.,

5.75%,

5/15/63

85,476

194,000

Meta

Platforms,

Inc.,

5.40%,

8/15/54

180,481

213,000

Meta

Platforms,

Inc.,

4.45%,

8/15/52

173,341

439,298

INTERNET

&

DIRECT

MARKETING

RETAIL

—

0.77%

225,000

Amazon.com,

Inc.,

2.50%,

6/03/50

134,478

445,000

Amazon.com,

Inc.,

2.70%,

6/03/60

251,572

386,050

INTERNET

MEDIA

&

SERVICES

—

0.92%

134,000

Alphabet,

Inc.,

5.35%,

11/15/45

133,154

204,000

Beignet

Investor

LLC,

6.58%,

5/30/49

(a) 215,525

115,000

Meta

Platforms

Inc,

5.50%,

11/15/45

111,667

460,346

IT

SERVICES

—

0.60%

237,000

Fiserv,

Inc.,

4.40%,

7/01/49

185,953

129,000

Visa,

Inc.,

4.30%,

12/14/45

112,608

298,561

LEISURE

PRODUCTS

—

0.35%

185,000

Mattel,

Inc.,

5.45%,

11/01/41

173,952

MACHINERY

—

0.69%

73,000

Caterpillar

Inc.,

5.50%,

5/15/55

73,627

111,000

Caterpillar,

Inc.,

3.80%,

8/15/42

93,226

87,000

Cummins,

Inc.,

5.45%,

2/20/54

85,720

Sterling

Capital

Long

Duration

Corporate

Bond

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

MACHINERY

—

(continued)

$

108,000

Deere

&

Co.,

3.90%,

6/09/42

$

92,894

345,467

MEDIA

—

0.89%

229,000

Comcast

Corp.,

3.25%,

11/01/39

178,924

182,000

Comcast

Corp.,

2.80%,

1/15/51

105,435

180,000

Comcast

Corp.,

5.50%,

5/15/64

160,947

445,306

METALS

&

MINING

—

2.10%

242,000

Anglo

American

Capital

PLC,

6.00%,

4/05/54

(a) 242,290

256,000

Freeport-McMoRan

Inc.,

5.45%,

3/15/43

247,819

107,000

Nucor

Corp.,

2.98%,

12/15/55

66,536

267,000

Rio

Tinto

Finance

USA

PLC,

5.75%,

3/14/55

272,250

95,000

Southern

Copper

Corp.,

5.88%,

4/23/45

97,574

181,000

Steel

Dynamics,

Inc.,

3.25%,

10/15/50

124,025

1,050,494

MULTI-UTILITIES

—

1.43%

121,000

CMS

Energy

Corp.,

3.75%,

12/01/50

111,574

126,000

CMS

Energy

Corp.,

4.70%,

3/31/43

109,833

93,000

Dominion

Energy,

Inc.,

4.85%,

8/15/52

79,999

169,000

Dominion

Energy,

Inc.,

3.30%,

4/15/41

128,297

117,000

NiSource,

Inc.,

4.80%,

2/15/44

105,266

207,000

Sempra,

3.80%,

2/01/38

177,888

712,857

OIL

&

GAS

PRODUCERS

—

4.41%

150,000

Aker

BP

ASA,

5.80%,

10/01/54

(a) 136,379

132,000

APA

Corp.,

5.25%,

2/01/42

(a) 112,045

165,000

APA

Corp.,

5.35%,

7/01/49

(a) 137,140

94,000

BP

Capital

Markets

America,

Inc.,

3.06%,

6/17/41

71,547

100,000

Cheniere

Corpus

Christi

Holdings

LLC,

2.74%,

12/31/39

85,266

80,000

ConocoPhillips

Co.,

4.03%,

3/15/62

58,122

97,000

DCP

Midstream

Operating

LP,

5.60%,

4/01/44

93,576

80,000

Eastern

Gas

Transmission

&

Storage,

Inc.,

4.80%,

11/01/43

70,676

227,000

Enterprise

Products

Operating

LLC,

3.30%,

2/15/53

151,577

84,000

Enterprise

Products

Operating

LLC,

6.45%,

9/01/40

93,472

110,000

Enterprise

Products

Operating

LLC,

6.13%,

10/15/39

118,409

134,000

ONEOK,

Inc.,

5.85%,

11/01/64

125,721

109,000

Plains

All

American

Pipeline

LP/PAA

Finance

Corp.,

4.70%,

6/15/44

92,748

200,000

Saudi

Arabian

Oil

Co.,

5.88%,

7/17/64

(a) 194,240

105,000

Shell

Finance

US,

Inc.,

4.55%,

8/12/43

93,918

167,000

TotalEnergies

Capital

SA,

5.43%,

9/10/64

(FIXED)

156,297

89,000

TransCanada

PipeLines

Ltd.,

6.20%,

10/15/37

94,811

121,000

Williams

Cos

Inc/The,

6.00%,

3/15/55

122,996

158,000

Woodside

Finance

Ltd.,

5.70%,

9/12/54

148,295

Sterling

Capital

Long

Duration

Corporate

Bond

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

OIL

&

GAS

PRODUCERS

—

(continued)

$

40,000

Woodside

Finance

Ltd.,

6.00%,

5/19/35

$

41,658

2,198,893

OIL,

GAS

&

CONSUMABLE

FUELS

—

3.46%

72,000

Diamondback

Energy,

Inc.,

5.90%,

4/18/64

67,966

211,000

Energy

Transfer

LP,

5.00%,

5/15/44

182,896

56,000

Energy

Transfer

LP,

7.50%,

7/01/38

64,834

70,000

Energy

Transfer

LP,

5.95%,

5/15/54

66,336

63,000

Energy

Transfer

LP,

5.00%,

5/15/50

52,709

126,000

Energy

Transfer

LP,

5.35%,

5/15/45

113,951

43,000

Equinor

ASA,

5.10%,

8/17/40

42,713

229,000

Exxon

Mobil

Corp.,

4.23%,

3/19/40

210,039

158,000

Kinder

Morgan

Energy

Partners

LP,

5.63%,

9/01/41

155,734

72,000

Kinder

Morgan,

Inc.,

5.55%,

6/01/45

69,611

88,000

Kinder

Morgan,

Inc.,

5.45%,

8/01/52

81,814

120,000

MPLX

LP,

4.50%,

4/15/38

109,413

82,000

MPLX

LP,

4.70%,

4/15/48

68,152

93,000

MPLX

LP,

5.20%,

12/01/47

82,908

80,000

MPLX

LP,

4.95%,

3/14/52

67,249

117,000

Ovintiv

,

Inc.,

7.10%,

7/15/53

124,329

86,000

Targa

Resources

Corp.,

6.25%,

7/01/52

86,349

73,000

Williams

Cos.

Inc.

(The),

6.30%,

4/15/40

78,637

1,725,640

PHARMACEUTICALS

—

1.07%

166,000

Bristol-Myers

Squibb

Co.,

4.25%,

10/26/49

135,632

158,000

Bristol-Myers

Squibb

Co.,

2.35%,

11/13/40

112,382

207,000

Bristol-Myers

Squibb

Co.,

2.55%,

11/13/50

122,408

88,000

Merck

&

Co.,

Inc.,

2.75%,

12/10/51

54,456

119,000

Zoetis,

Inc.,

4.70%,

2/01/43

109,227

534,105

REIT

—

2.08%

146,000

American

Homes

Rent

LP,

4.30%,

4/15/52

115,985

157,000

American

Tower

Trust,

Series

2018-1,

Class

A,

3.65%,

3/15/28

(a) 155,441

135,000

Kimco

Realty

OP

LLC,

4.25%,

4/01/45

113,541

83,000

Kimco

Realty

OP

LLC,

4.45%,

9/01/47

70,755

40,000

Mid-America

Apartments

LP,

2.88%,

9/15/51

25,417

95,000

Prologis

LP,

3.00%,

4/15/50

62,675

108,000

Prologis

LP,

5.25%,

6/15/53

102,624

70,000

Public

Storage

Operating

Co.,

5.35%,

8/01/53

67,686

94,000

Realty

Income

Corp.,

5.38%,

9/01/54

90,636

88,000

Simon

Property

Group

LP,

3.25%,

9/13/49

60,616

113,000

UDR,

Inc.,

3.10%,

11/01/34

97,838

77,000

VICI

Properties

LP,

6.13%,

4/01/54

76,711

1,039,925

RETAIL

-

CONSUMER

STAPLES

—

0.44%

232,000

Kroger

Co/The,

5.50%,

9/15/54

220,934

Sterling

Capital

Long

Duration

Corporate

Bond

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

RETAIL

-

CONSUMER

STAPLES

—

(continued)

RETAIL

-

DISCRETIONARY

—

0.32%

$

135,000

ERAC

USA

Finance

LLC.,

4.50%,

2/15/45

(a) $

117,597

69,000

Lowe's

Cos

Inc,

3.00%,

10/15/50

43,736

161,333

ROAD

&

RAIL

—

1.32%

87,000

CSX

Corp.,

4.30%,

3/01/48

72,579

92,000

CSX

Corp.,

6.00%,

10/01/36

99,818

143,000

CSX

Corp.,

4.50%,

11/15/52

121,334

88,000

Norfolk

Southern

Corp.,

3.95%,

10/01/42

72,944

56,000

Norfolk

Southern

Corp.,

3.40%,

11/01/49

39,568

105,000

Union

Pacific

Corp.,

3.60%,

9/15/37

93,381

212,000

Union

Pacific

Corp.,

2.95%,

3/10/52

135,193

31,000

Union

Pacific

Corp.,

3.38%,

2/14/42

24,379

659,196

SEMICONDUCTORS

—

1.65%

64,000

Broadcom

Inc,

3.75%,

2/15/51

48,249

373,000

Broadcom

Inc,

3.50%,

2/15/41

303,429

177,000

Foundry

JV

Holdco

LLC,

6.40%,

1/25/38

(a) 188,802

59,000

Intel

Corp,

3.73%,

12/08/47

41,984

86,000

Intel

Corp,

4.90%,

8/05/52

71,240

48,000

Intel

Corp,

3.25%,

11/15/49

30,664

151,000

Intel

Corp.,

5.70%,

2/10/53

140,575

824,943

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

—

0.48%

122,000

KLA

Corp.,

4.95%,

7/15/52

110,711

201,000

Lam

Research

Corp.,

2.88%,

6/15/50

130,381

241,092

SOFTWARE

—

3.58%

285,000

Microsoft

Corp.,

2.53%,

6/01/50

174,007

409,000

Microsoft

Corp.,

2.68%,

6/01/60

235,529

240,000

Oracle

Corp,

6.10%,

9/26/65

211,678

171,000

Oracle

Corp.,

3.60%,

4/01/50

106,518

65,000

Oracle

Corp.,

6.13%,

8/03/65

57,564

86,000

Oracle

Corp.,

4.38%,

5/15/55

59,394

361,000

Oracle

Corp.,

4.00%,

7/15/46

250,242

129,000

Oracle

Corp.,

3.85%,

4/01/60

78,825

133,000

Oracle

Corp.,

3.65%,

3/25/41

97,026

162,000

Oracle

Corp.,

3.95%,

3/25/51

106,589

135,000

Oracle

Corp.,

6.90%,

11/09/52

133,397

173,000

Salesforce,

Inc.,

2.90%,

7/15/51

109,479

78,000

Salesforce,

Inc.,

3.05%,

7/15/61

47,081

114,000

Synopsys,

Inc.,

5.70%,

4/01/55

113,087

1,780,416

SPECIALTY

FINANCE

—

0.49%

296,000

AerCap

Ireland

Capital

DAC,

3.85%,

10/29/41

241,887

Sterling

Capital

Long

Duration

Corporate

Bond

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

SPECIALTY

RETAIL

—

1.22%

$

141,000

Home

Depot,

Inc.

(The),

3.13%,

12/15/49

$

96,104

291,000

Home

Depot,

Inc.

(The),

2.75%,

9/15/51

179,766

152,000

Lowe's

Cos,

Inc.,

5.00%,

4/15/40

147,057

262,000

Lowe's

Cos,

Inc.,

3.50%,

4/01/51

181,841

604,768

STEEL

—

0.10%

50,000

Steel

Dynamics

Inc,

5.75%,

5/15/55

49,781

TECHNOLOGY

HARDWARE

—

0.36%

141,000

Dell

International

LLC

/

EMC

Corp.,

3.45%,

12/15/51

96,018

79,000

Dell

International

LLC

/

EMC

Corp.,

5.40%,

4/15/34

81,127

177,145

TECHNOLOGY

HARDWARE,

STORAGE

&

PERIPHERALS

—

1.34%

248,000

Apple,

Inc.,

2.70%,

8/05/51

154,358

191,000

Apple,

Inc.,

3.85%,

5/04/43

161,331

203,000

Apple,

Inc.,

3.85%,

8/04/46

164,492

180,000

Apple,

Inc.,

2.65%,

5/11/50

112,525

76,000

Hewlett

Packard

Enterprise

Co.,

6.35%,

10/15/45

77,914

670,620

TECHNOLOGY

SERVICES

—

0.19%

120,000

Kyndryl

Holdings,

Inc.,

4.10%,

10/15/41

95,048

TELECOMMUNICATIONS

—

2.74%

350,000

AT&T

Inc,

5.15%,

11/15/46

320,011

216,000

AT&T

Inc,

3.65%,

6/01/51

151,785

65,000

AT&T

Inc,

5.55%,

11/01/45

62,597

73,000

Telefonica

Emisiones

SA,

5.21%,

3/08/47

64,269

339,000

T-Mobile

USA,

Inc.,

4.38%,

4/15/40

304,100

169,000

T-Mobile

USA,

Inc.,

3.60%,

11/15/60

112,277

159,000

T-Mobile

USA,

Inc.,

5.65%,

1/15/53

153,706

173,000

T-Mobile

USA,

Inc.,

5.80%,

9/15/62

170,278

30,000

Verizon

Communications

Inc,

5.88%,

11/30/55

29,640

1,368,663

TOBACCO

—

0.71%

123,000

Altria

Group,

Inc.,

3.88%,

9/16/46

92,441

291,000

Philip

Morris

International,

Inc.,

4.38%,

11/15/41

259,106

351,547

TOBACCO

&

CANNABIS

—

0.79%

58,000

Altria

Group

Inc,

4.25%,

8/09/42

48,398

130,000

BAT

Capital

Corp.,

7.08%,

8/02/53

147,390

90,000

BAT

Capital

Corp.,

4.39%,

8/15/37

82,904

141,000

BAT

Capital

Corp.,

4.54%,

8/15/47

116,963

395,655

TRANSPORTATION

&

LOGISTICS

—

1.12%

172,000

Burlington

Northern

Santa

Fe

LLC,

4.90%,

4/01/44

161,856

252,000

Burlington

Northern

Santa

Fe

LLC,

5.20%,

4/15/54

237,161

100,000

Burlington

Northern

Santa

Fe

LLC.,

4.15%,

12/15/48

81,858

Sterling

Capital

Long

Duration

Corporate

Bond

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

TRANSPORTATION

&

LOGISTICS

—

(continued)

$

72,943

Polar

Tankers,

Inc.,

5.95%,

5/10/37

(a) $

77,902

558,777

WIRELESS

TELECOMMUNICATION

SERVICES

—

0.43%

200,000

America

Movil

SAB

de

CV,

6.13%,

3/30/40

212,645

Total

(Cost $49,549,907)

47,110,673

Principal

Amount

Fair

Value

U.S.

TREASURY

BONDS

&

NOTES

—

3.21%

2,181,600

United

States

Treasury

Bond,

2.50 %

,

2/15/45

1,545,016

82,900

United

States

Treasury

Bond,

2.00 %

,

11/15/41

57,858

Total

(Cost $1,590,862)

1,602,874

Shares

Fair

Value

MONEY

MARKET

FUNDS

—

0.94%

471,068

Federated

Hermes

Treasury

Obligations

Fund,

Institutional

Shares,

3.67%

(f) 471,068

Total

Money

Market

Funds

(Cost

$471,068)

471,068

Total

Investments—

98.74%

(Cost

$51,661,837)

49,234,615

Other

Assets

in

Excess

of

Liabilities

—

1.26%

628,433

NET

ASSETS

—

100.00%

$

49,863,048

(a) Security

exempt

from

registration

under

Rule

144A

or

Section

4(2)

of

the

Securities

Act

of

1933. The

security

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

The

Advisor,

using

Board

approved

procedures,

has

deemed

these

securities

or

a

portion

of

these

securities

to

be

liquid.

(b) The

interest

rate

for

this

variable

rate

note,

which

will

change

periodically,

is

based

either

on

the

prime

rate

or

an

index

of

market

rates.

The

reflected

rate

is

in

effect

as

of

December

31,

2025. The

maturity

date

reflected

is

the

final

maturity

date.

(c) Security

is

perpetual

in

nature

and

has

no

stated

maturity

date.

(d) All

or

a

portion

of

the

securities

are

held

in

a

separate

collateral

account

at

US

Bank.

The

total

value

of

securities

held

in

a

separate

collateral

account

as

of

the

period

ended

December

31,

2025

is

$467,354,

which

represents

0.9%

of

net

assets.

(e) The

security

was

purchased

on a

when-issued

of

forward

commitment

basis.

(f) Represents

the

current

yield

as

of

report

date.

Sterling

Capital

Quality

Income

Fund

Schedule

of

Investments

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

ASSET

BACKED

SECURITIES

—

15.24%

$

1,466,000

Allegany

Park

CLO

Ltd,

Series

1A

,

Class

ARR,

4.98%,

1/20/35

(TSFR3M

+

bps)

(a)(c) $

1,466,015

825,000

ARES

XLIV

CLO

Ltd,

Series

44A

,

Class

A1RR,

5.04%,

4/15/34

(TSFR3M

+

bps)

(a)(b)(c)

825,701

1,250,000

Avis

Budget

Rental

Car

Funding

AESOP

LLC,

Series

4A

,

Class

A,

5.49%,

6/20/29

(a) 1,281,552

1,000,000

Avis

Budget

Rental

Car

Funding

AESOP

LLC,

Series

8A

,

Class

A,

6.02%,

2/20/30

(a) 1,047,934

928,000

BANK5

2025-5YR17,

Series

5YR17

,

Class

A3,

5.23%,

11/15/58

(d) 956,772

1,309,000

BANK5

Trust,

Series

2024-5YR5

,

6.27%,

2/15/29

1,365,229

252,000

BANK5

Trust,

Series

2024-5YR6

,

Class

A3,

6.23%,

5/15/57

265,532

240,000

BANK5

Trust,

Series

2024-5YR6

,

Class

AS,

6.79%,

5/15/57

254,420

1,413,000

Benchmark

2025-V18

Mortgage

Trust,

Series

V18

,

Class

A3,

5.18%,

10/15/30

1,455,112

232,466

BX

Trust,

Series

2021-RISE

,

Class

C,

5.31%,

11/15/36

(a) 232,251

600,000

Carvana

Auto

Receivables

Trust,

Series

P3

,

Class

B,

1.42%,

8/10/27

587,835

1,009,000

Dryden

CLO

Ltd.,

Series

53A

,

Class

BR,

5.21%,

1/15/31

(a)(b) 1,009,101

1,420,471

Government

National

Mortgage

Association,

Series

,

Class

AW,

5.91%,

2/20/51

1,470,494

633,728

Government

National

Mortgage

Association,

Series

,

Class

BZ,

3.50%,

6/20/49

410,554

1,212,000

Hertz

Vehicle

Financing

III

LLC,

Series

4A

,

Class

A,

6.15%,

3/25/30

(a) 1,268,679

994,000

Hertz

Vehicle

Financing

III

LLC,

Series

2A

,

Class

A,

5.48%,

1/27/31

(a) 1,023,571

1,038,725

Hilton

Grand

Vacations

Trust,

Series

2024-3A

,

Class

A,

4.98%,

8/27/40

(a) 1,050,749

1,582,000

LCM

Ltd,

Series

33A

,

Class

AR,

5.06%,

7/20/34

(TSFR3M

+

118.00 bps)

(a)(b)(c)

1,584,326

774,658

MVW

LLC,

Series

2024-2

,

Class

A,

4.43%,

3/20/42

(a) 776,001

1,581,000

Neuberger

Berman

Loan

Advisers

CLO

Ltd.,

Series

41A

,

Class

AR,

4.96%,

4/15/34

(TSFR3M

+

bps)

(a) (b)(c) 1,580,557

415,000

OneMain

Direct

Auto

Receivables

Trust,

Series

1A

,

Class

A,

5.41%,

11/14/29

(a) 418,130

1,012,000

OneMain

Financial

Issuance

Trust,

Series

2A

,

Class

A,

3.14%,

10/14/36

(a)(e) 997,683

346,820

Sierra

Timeshare

Receivables

Funding

LLC,

Series

3A

,

Class

A,

4.83%,

8/20/41

(a) 349,835

Sterling

Capital

Quality

Income

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

ASSET

BACKED

SECURITIES

—

(continued)

$

1,345,012

SMB

Private

Education

Loan

Trust,

Series

2024-F

,

Class

A1A,

5.06%,

3/16/54

(a) $

1,361,257

144,219

SoFi

Professional

Loan

Program

Trust,

Series

A

,

Class

A2FX,

2.54%,

5/15/46

(a)(e) 139,527

1,845,415

Tricon

Residential

Trust,

Series

2025-SFR

,

Class

A,

5.06%,

3/17/42

(TSFR1M

+

bps)

(a)(c) 1,846,880

24,580

United

States

Small

Business

Administration,

Series

20D

,

Class

1,

4.36%,

4/01/30

(e) 24,689

242,000

VDCM

Commercial

Mortgage

Trust

2025-AZ,

Series

AZ

,

Class

C,

6.03%,

7/13/44

(a)(c) 246,265

Total

(Cost $25,144,888)

25,296,651

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

0.15%

REIT

—

0.15%

250,000

American

Tower

Trust,

Series

2018-1,

Class

A,

3.65%,

3/15/28

(a)(e) $

247,516

Total

(Cost $250,000)

247,516

Principal

Amount

Fair

Value

COMMERCIAL

MORTGAGE-BACKED

SECURITIES

—

7.89%

250,000

BANK

Trust,

Series

2020-BNK29,

Class

A4,

2.00%,

11/15/53

$

221,084

178,000

BANK5

Trust,

Series

2023-5YR3,

Class

AS,

7.56%,

9/15/56

$

189,963

1,000,000

BANK5

Trust,

Series

2023-5YR4,

Class

AS,

7.27%,

12/15/56

$

1,066,133

325,000

BBCMS

Mortgage

Trust,

Series

C7,

Class

A5,

2.04%,

4/15/53

$

293,085

75,000

BBCMS

Mortgage

Trust,

Series

5C25,

Class

A3,

5.95%,

3/15/57

$

78,448

51,000

BBCMS

Mortgage

Trust,

Series

5C25,

Class

AS,

6.36%,

3/15/57

$

53,158

553,000

Benchmark

Mortgage

Trust,

Series

V6,

Class

AS,

6.38%,

3/15/29

$

577,974

85,000

Benchmark

Mortgage

Trust,

Series

V6,

Class

A3,

5.93%,

3/15/29

$

88,807

220,000

Benchmark

Mortgage

Trust,

Series

V5,

Class

A3,

5.81%,

1/10/57

$

228,935

80,000

Benchmark

Mortgage

Trust,

Series

V2,

Class

AS,

6.54%,

5/15/55

$

83,196

1,250,000

Benchmark

Mortgage

Trust,

Series

B21,

Class

A5,

1.98%,

12/17/53

(e) $

1,105,815

589,492

Benchmark

Mortgage

Trust,

Series

B18,

Class

A5,

1.93%,

7/15/53

$

523,554

Sterling

Capital

Quality

Income

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

COMMERCIAL

MORTGAGE-BACKED

SECURITIES

—

(continued)

167,000

Benchmark

Mortgage

Trust,

Series

2024-V7,

Class

AS,

6.53%,

5/15/56

$

175,762

209,000

Benchmark

Mortgage

Trust,

Series

2024-V7,

Class

A3,

6.23%,

5/15/56

$

220,578

737,000

BMO

2025-5C12

Mortgage

Trust,

Series

5C12,

Class

A3,

5.18%,

10/15/58

(d) $

756,572

51,000

BMO

Mortgage

Trust,

Series

2023-5C1,

7.36%,

8/15/56

$

53,845

216,105

BX

Commercial

Mortgage

Trust,

Series

2021-ACNT,

Class

C,

5.36%,

11/15/38

(a)(b) $

215,844

589,000

CD

Mortgage

Trust,

Series

2016-CD2,

Class

A4,

3.53%,

11/10/49

(c)(e) $

575,686

700,000

CD

Mortgage

Trust,

Series

2017-CD3,

Class

A4,

3.63%,

2/10/50

$

683,238

100,000

CFCRE

Commercial

Mortgage

Trust,

Series

C7,

Class

A3,

3.84%,

12/10/54

$

99,353

21,285

CHL

Mortgage

Pass-Through

Trust,

Series

3,

Class

A4,

5.75%,

4/25/34

$

21,245

8,932

Citigroup

Mortgage

Loan

Trust,

Inc.,

Series

NCM2,

Class

3CB2,

6.50%,

8/25/34

$

8,928

250,000

COMM

Mortgage

Trust,

Series

COR2,

Class

A3,

3.51%,

9/10/50

(e) $

246,719

7,308

CSFB

Mortgage-Backed

Pass-Through

Certificates,

Series

1,

Class

2A1,

6.50%,

2/25/34

$

7,322

140,000

Freddie

Mac

Multifamily

Structured

Pass

Through,

Series

K159,

Class

A2,

3.95%,

11/25/30

(b) $

139,403

1,000,000

Freddie

Mac

Multifamily

Structured

Pass

Through,

Series

K1522,

Class

A2,

2.36%,

10/25/36

$

807,418

291,664

FRESB

Mortgage

Trust,

Series

2017-SB36,

Class

A10F,

2.88%,

7/25/27

(e) $

286,615

64,000

GS

Mortgage

Securities

Trust,

Series

GC47,

Class

A5,

2.38%,

5/12/53

$

58,884

500,000

GS

Mortgage

Securities

Trust,

Series

GSA2,

Class

A5,

2.01%,

12/12/53

(e) $

441,351

500,000

GS

Mortgage

Securities

Trust,

Series

2016-GS4,

Class

A4,

3.44%,

11/15/49

(e) $

496,882

185,000

JP

Morgan

Chase

Commercial

Mortgage,

Series

JP4,

Class

A4,

3.65%,

12/15/49

(b) $

183,492

67,432

JP

Morgan

Chase

Commercial

Mortgage,

Series

C3,

Class

B,

5.01%,

2/15/46

(a) $

65,988

500,000

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust,

Series

C32,

Class

A4,

3.72%,

12/15/49

(e) $

496,006

659,333

Morgan

Stanley

Capital

I

Trust,

Series

HR8,

Class

A4,

2.04%,

7/15/53

$

597,485

435,000

Morgan

Stanley

Capital

I

Trust,

Series

H3,

Class

A5,

4.18%,

7/15/51

$

434,324

Sterling

Capital

Quality

Income

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

COMMERCIAL

MORTGAGE-BACKED

SECURITIES

—

(continued)

232,582

SMR

Mortgage

Trust,

Series

2022-IND,

Class

A,

5.40%,

2/15/39

(a)(b) $

232,542

50,000

Wells

Fargo

Commercial

Mortgage

Trust,

Series

C37,

Class

A5,

3.79%,

12/15/49

$

49,795

300,000

Wells

Fargo

Commercial

Mortgage

Trust,

Series

C40,

Class

A4,

3.58%,

10/15/50

$

297,155

220,800

Wells

Fargo

Commercial

Mortgage

Trust,

Series

C56,

Class

A5,

2.45%,

6/15/53

$

204,638

300,000

Wells

Fargo

Commercial

Mortgage

Trust,

Series

C58,

Class

A4,

2.09%,

7/15/53

$

269,202

500,000

Wells

Fargo

Commercial

Mortgage

Trust,

Series

C57,

Class

A4,

2.12%,

8/15/53

$

454,922

Total

(Cost $13,790,622)

$

13,091,346

Principal

Amount

Fair

Value

COLLATERALIZED

MORTGAGE

OBLIGATIONS

—

29.40%

1,500,000

BANK

Trust,

Series

2023-BNK46,

Class

A4,

5.75%,

8/15/56

$

1,581,585

1,500,000

BANK

Trust,

Series

2024-BNK47,

Class

A5,

5.72%,

6/15/57

$

1,591,232

208,000

BANK5,

Series

2023-5YR4,

Class

B,

7.86%,

12/15/28

$

223,102

589,000

BBCMS

Mortgage

Trust

2025-5C36,

Series

5C36,

Class

A3,

5.52%,

8/15/58

$

614,397

295,000

Benchmark

2025-V16

Mortgage

Trust,

Series

V16,

Class

A3,

5.44%,

8/15/57

$

306,560

1,495,000

Benchmark

Mortgage

Trust,

Series

2023-B39,

Class

A5,

5.75%,

7/15/56

$

1,581,959

1,500,000

BMO

Mortgage

Trust,

Series

2023-C7,

Class

A5,

6.16%,

12/15/56

$

1,608,408

275,607

Chase

Home

Lending

Mortgage

Trust,

Series

2019-

ATR2,

Class

A3,

3.50%,

8/25/49

(a) $

251,407

825,833

Fannie

Mae,

Series

2010-150,

Class

YL,

4.00%,

1/25/41

$

761,853

500,935

Fannie

Mae,

Series

2009-28,

Class

HX,

5.00%,

5/25/39

$

512,018

539,756

Fannie

Mae,

Series

2008-2,

Class

PH,

5.50%,

2/25/38

$

552,246

540,030

Fannie

Mae,

Series

59,

Class

DH,

6.50%,

7/25/36

$

580,472

103,692

Fannie

Mae,

Series

2003-21,

Class

OW,

4.00%,

3/25/33

$

103,140

640,903

Fannie

Mae,

Series

20,

Class

KL,

3.50%,

1/25/48

$

535,376

662,399

Fannie

Mae,

Series

2015-65,

Class

BL,

3.50%,

9/25/49

$

545,838

1,888,921

Fannie

Mae,

Series

56,

Class

AQ,

2.00%,

8/25/50

$

1,537,181

24,674

Fannie

Mae,

Series

2003-19,

Class

AR,

5.50%,

3/25/33

$

25,445

301,209

Fannie

Mae,

Series

2020-10,

Class

Q,

3.00%,

3/25/50

$

263,828

423,355

Fannie

Mae,

Series

12,

Class

LC,

2.00%,

3/25/50

$

357,607

Sterling

Capital

Quality

Income

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

COLLATERALIZED

MORTGAGE

OBLIGATIONS

—

(continued)

711,755

Fannie

Mae,

Series

5,

Class

MG,

3.50%,

2/25/50

$

656,038

1,495,000

Fannie

Mae,

Series

2017-42,

Class

HL,

3.00%,

6/25/47

$

1,403,283

1,091,870

Fannie

Mae,

Series

73,

Class

DZ,

3.00%,

10/25/46

(e) $

976,752

3,156,922

Fannie

Mae,

Series

2015-65,

Class

CZ,

3.50%,

9/25/45

$

2,762,388

776,808

Fannie

Mae,

Series

2011-131,

Class

PB,

4.50%,

12/25/41

$

783,784

590,000

Fannie

Mae

REMICS,

Series

22,

Class

DY,

2.50%,

4/25/50

$

431,860

895,072

Freddie

Mac,

Series

4795,

Class

JB,

4.00%,

5/15/48

$

864,890

697,581

Freddie

Mac,

Series

5067,

Class

DP,

2.00%,

1/25/51

$

601,816

2,013,092

Freddie

Mac,

Series

4841,

Class

PZ,

4.50%,

9/15/48

$

1,962,189

3,171,017

Freddie

Mac,

Series

4938,

Class

KA,

2.50%,

10/25/49

$

2,787,586

673,062

Freddie

Mac,

Series

4941,

Class

MB,

3.00%,

7/25/49

$

609,935

332,968

Freddie

Mac,

Series

5115,

Class

G,

2.50%,

9/25/50

$

286,054

94,770

Freddie

Mac,

Series

2768,

Class

PC,

4.00%,

3/15/34

$

92,363

2,423,791

Freddie

Mac,

Series

5427,

Class

HZ,

3.50%,

8/15/42

$

2,026,887

39,481

Freddie

Mac,

Series

2485,

Class

WG,

6.00%,

8/15/32

$

41,310

130,996

Freddie

Mac,

Series

3042,

Class

PZ,

5.75%,

9/15/35

$

138,583

59,425

Freddie

Mac,

Series

3440,

Class

EM,

5.00%,

4/15/38

$

61,325

475,000

Freddie

Mac,

Series

4650,

Class

JE,

3.00%,

7/15/46

$

424,735

1,731,063

Freddie

Mac,

Series

5419,

Class

Z,

4.00%,

4/15/44

$

1,522,485

1,000,000

Freddie

Mac,

Series

4507,

Class

GB,

3.00%,

9/15/45

$

899,307

392,911

Freddie

Mac,

Series

4136,

Class

HZ,

3.50%,

11/15/27

$

391,223

22,741

Freddie

Mac,

Series

4293,

Class

MH,

3.00%,

12/15/41

$

22,085

28,626

Freddie

Mac,

Series

4215,

Class

LD,

2.00%,

7/15/41

$

28,057

92,322

Freddie

Mac,

Series

4173,

Class

NB,

3.00%,

3/15/43

$

85,408

119,000

Freddie

Mac,

Series

4160,

Class

HH,

2.50%,

12/15/32

(e) $

113,502

628,000

Freddie

Mac,

Series

4135,

Class

AY,

2.00%,

11/15/42

$

527,961

724,000

Freddie

Mac,

Series

4125,

Class

JC,

2.50%,

11/15/42

$

580,138

215,000

Freddie

Mac,

Series

4097,

Class

CU,

1.50%,

8/15/27

$

210,759

208,728

Freddie

Mac,

Series

4094,

Class

ME,

2.50%,

8/15/42

$

189,733

515,500

Freddie

Mac,

Series

4088,

Class

CD,

3.00%,

8/15/42

$

428,330

849,728

Freddie

Mac,

Series

3895,

Class

PW,

4.50%,

7/15/41

$

858,340

77,800

Freddie

Mac,

Series

3816,

Class

HM,

4.50%,

5/15/40

$

78,623

200,000

Freddie

Mac,

Series

3815,

Class

TB,

4.50%,

2/15/41

$

194,728

500,000

Freddie

Mac,

Series

3714,

Class

PB,

4.75%,

8/15/40

(e) $

501,554

71,852

Freddie

Mac,

Series

4352,

Class

ZX,

4.00%,

4/15/44

$

69,288

Sterling

Capital

Quality

Income

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

COLLATERALIZED

MORTGAGE

OBLIGATIONS

—

(continued)

707,964

Freddie

Mac

Principal

Strips,

Series

236,

–%,

4/01/36

$

589,182

124,345

Freddie

Mac

Principal

Strips,

Series

219,

–%,

3/01/32

$

113,883

37,622

Ginnie

Mae,

Series

2004-69,

Class

GC,

5.50%,

4/20/34

$

37,998

304,102

Ginnie

Mae,

Series

2005-60,

Class

WZ,

5.50%,

9/20/35

$

312,170

136,432

Ginnie

Mae,

Series

2007-57,

Class

ZA,

5.75%,

10/20/37

$

138,777

712,000

Ginnie

Mae,

Series

2017-75,

Class

DL,

3.00%,

3/20/47

$

609,667

750,000

Ginnie

Mae,

Series

2011-135,

Class

PG,

3.00%,

10/16/41

$

680,112

461,404

Ginnie

Mae,

Series

126,

Class

A,

2.50%,

11/16/46

$

442,166

258,008

Ginnie

Mae,

Series

79,

Class

V,

2.80%,

3/16/29

$

252,553

863,000

Ginnie

Mae,

Series

2019-6,

Class

JK,

3.50%,

1/20/49

$

777,450

1,000,000

Ginnie

Mae,

Series

81,

Class

AL,

4.50%,

8/20/40

$

970,459

3,558,967

Government

National

Mortgage

Association,

Series

90,

Class

AB,

3.00%,

7/20/49

$

3,223,757

785,000

Vantage

Data

Centers

LLC,

Series

1A,

Class

A2,

5.13%,

8/15/55

(a) $

775,859

1,500,000

Wells

Fargo

Commercial

Mortgage

Trust,

Series

2024-

C63,

Class

A5,

5.31%,

8/15/57

$

1,551,375

477,163

Wells

Fargo

Commercial

Mortgage

Trust

2025-5C5,

Series

5C5,

Class

A3,

5.59%,

7/15/58

$

498,335

665,000

Wells

Fargo

Commercial

Mortgage

Trust

2025-5C6,

Series

5C6,

Class

A3,

5.19%,

10/15/58

(d) $

683,889

Total

(Cost $48,973,819)

$

48,804,585

Principal

Amount

Fair

Value

MORTGAGE-BACKED

SECURITIES

—

39.50%

Fannie

Mae

—

25.20%

84,298

4.00%,

3/01/41,

Pool

#AH4008

82,835

564,233

3.50%,

4/01/52,

Pool

#FS1260

526,504

1,019,323

4.00%,

8/01/51,

Pool

#FS1976

985,257

510,599

4.50%,

6/01/52,

Pool

#FS2157

505,016

456,545

5.50%,

3/01/53,

Pool

#FS3925

468,551

1,541,579

6.00%,

10/01/41,

Pool

#FS4183

1,629,606

771,068

3.50%,

9/01/50,

Pool

#FS5284

720,202

853,917

4.00%,

5/01/53

820,587

1,067,971

6.00%,

6/01/53,

Pool

#FS6616

1,098,864

2,632,844

6.00%,

5/01/54,

Pool

#FM2472

2,720,567

3,456,150

4.50%,

9/01/53,

Pool

#FS8829

3,395,171

3,232,904

5.50%,

11/01/54,

Pool

#FS9455

3,306,677

3,249,390

5.00%,

10/01/54,

Pool

#FS9535

3,247,859

Sterling

Capital

Quality

Income

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

MORTGAGE-BACKED

SECURITIES

—

(continued)

Fannie

Mae

—

(continued)

1,628,186

5.00%,

4/01/55,

Pool

#CC0236

1,627,421

41,198

5.50%,

6/01/38,

Pool

#984277

(e) 43,012

23,579

5.50%,

8/01/38,

Pool

#995072

24,589

30,221

4.50%,

9/01/39,

Pool

#AC1830

30,482

22,214

4.50%,

6/01/41,

Pool

#AC9298

22,306

32,675

4.50%,

10/01/44,

Pool

#MA2066

32,615

92,270

4.00%,

12/01/44,

Pool

#MA2127

89,420

96,507

4.50%,

1/01/45,

Pool

#MA2158

96,330

66,333

4.00%,

11/01/46,

Pool

#MA2808

64,134

1,422,149

2.00%,

12/01/41,

Pool

#MA4501

1,236,107

646,067

3.50%,

2/01/52,

Pool

#MA4550

601,700

637,589

3.00%,

8/01/50,

Pool

#FS0973

575,859

426,652

6.00%,

8/01/43,

Pool

#MA5129

441,192

1,583,935

3.00%,

9/01/51,

Pool

#FM8821

1,413,432

265,232

3.00%,

5/01/51,

Pool

#FM7346

236,683

53,142

3.50%,

2/01/41,

Pool

#AH5646

51,173

58,114

5.00%,

7/01/41,

Pool

#AI5595

59,721

102,002

4.00%,

9/01/41,

Pool

#AJ1717

99,780

95,897

4.00%,

10/01/45,

Pool

#AL7487

92,808

109,095

3.50%,

3/01/45,

Pool

#AS4552

103,620

690,648

3.00%,

10/01/46,

Pool

#BC4764

626,375

89,800

3.00%,

2/01/47,

Pool

#BE2329

81,420

45,771

4.00%,

5/01/47,

Pool

#BE9598

43,842

42,086

4.50%,

11/01/47,

Pool

#BM3286

42,073

2,778,190

4.00%,

12/01/47,

Pool

#BM5019

2,704,806

724,425

3.00%,

3/01/52,

Pool

#BV4143

647,408

2,971,034

4.50%,

10/01/52,

Pool

#BW9905

2,921,144

48,497

4.50%,

5/01/48,

Pool

#CA1711

48,038

185,817

4.50%,

3/01/34,

Pool

#CA3294

188,568

1,204,486

3.50%,

6/01/50,

Pool

#CA6097

1,122,318

166,359

3.00%,

7/01/50,

Pool

#CA6421

147,672

169,278

3.00%,

7/01/50,

Pool

#CA6422

150,289

251,696

3.00%,

11/01/51,

Pool

#CB2170

223,357

2,812,498

3.50%,

5/01/52,

Pool

#CB3593

2,620,020

401,778

5.00%,

11/01/52,

Pool

#CB5278

403,266

1,153,842

5.50%,

2/01/54,

Pool

#FA0202

1,176,325

Sterling

Capital

Quality

Income

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

MORTGAGE-BACKED

SECURITIES

—

(continued)

Fannie

Mae

—

(continued)

1,095,816

6.00%,

4/01/54,

Pool

#FA0566

1,131,871

380,480

2.50%,

3/01/51,

Pool

#FM6523

326,009

868,026

2.50%,

8/01/51,

Pool

#FM8438

748,696

29,526

4.50%,

10/01/40,

Pool

#AE4855

29,721

$

41,833,298

Federal

Home

Loan

Banks

—

0.29%

550,000

1.90%,

10/07/31

488,259

—

Freddie

Mac

—

13.78%

14,568

5.50%,

10/01/39,

Pool

#ZI9359

15,179

541,651

5.00%,

1/01/53,

Pool

#RA8382

543,657

861,333

3.00%,

2/01/52,

Pool

#RA6664

766,742

770,083

5.50%,

2/01/53,

Pool

#QF8052

786,354

531,478

2.50%,

7/01/51,

Pool

#QC4230

459,116

826,517

3.00%,

8/01/51,

Pool

#SD8162

731,571

3,206,719

5.50%,

11/01/54,

Pool

#SD6622

3,285,255

2,348,140

6.00%,

9/01/54,

Pool

#SD6558

2,432,558

1,319,935

4.00%,

12/01/52,

Pool

#SD5808

1,264,941

635,158

5.50%,

6/01/54,

Pool

#SD5479

651,400

1,041,191

6.00%,

7/01/53,

Pool

#SD3223

1,073,929

813,289

5.50%,

6/01/53,

Pool

#SD3136

830,873

845,400

5.00%,

6/01/53,

Pool

#SD3128

849,434

975,792

4.50%,

5/01/53,

Pool

#SD2952

963,325

3,253,543

5.00%,

2/01/53,

Pool

#SD2473

3,245,466

915,240

4.50%,

8/01/52,

Pool

#SD1515

903,641

581,506

4.50%,

6/01/52,

Pool

#SD1265

573,509

650,175

5.00%,

10/01/52,

Pool

#SD1710

651,578

25,042

5.00%,

4/01/40,

Pool

#ZI9910

25,752

48,497

4.00%,

12/01/40,

Pool

#ZJ0811

47,655

46,629

4.00%,

11/01/40,

Pool

#ZJ0654

45,715

121,891

3.50%,

8/01/42,

Pool

#ZL3508

116,281

77,140

4.00%,

4/01/46,

Pool

#ZM1015

74,599

75,348

3.50%,

12/01/47,

Pool

#ZM5123

70,782

137,256

2.00%,

8/01/40,

Pool

#RB5076

121,924

18,258

5.00%,

8/01/40,

Pool

#ZA1056

18,776

111,369

4.00%,

5/01/37,

Pool

#ZA2461

109,832

Sterling

Capital

Quality

Income

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

MORTGAGE-BACKED

SECURITIES

—

(continued)

Freddie

Mac

—

(continued)

73,122

3.00%,

1/01/46,

Pool

#ZS4646

66,658

22,709

4.00%,

11/01/32,

Pool

#ZS8993

22,614

1,514,780

4.00%,

6/01/48,

Pool

#ZT0541

1,464,316

151,124

3.50%,

3/01/43,

Pool

#ZT1107

143,531

92,686

3.50%,

3/01/45,

Pool

#ZT1164

88,027

42,310

5.50%,

4/01/40,

Pool

#ZA1042

44,225

370,569

6.00%,

2/01/43,

Pool

#RB5221

382,120

$

22,871,335

Ginnie

Mae

II

—

0.23%

399,781

4.00%,

7/20/52,

Pool

#786280

379,013

6,140

4.00%,

12/20/40,

Pool

#755678

5,936

384,949

Total

(Cost $65,539,369)

65,577,841

Principal

Amount

Fair

Value

U.S.

GOVERNMENT

&

AGENCIES

—

1.76%

2,910,978

Freddie

Mac

Pool,

5.00 %

,

4/01/55

2,928,712

Total

(Cost $2,932,752)

2,928,712

Principal

Amount

Fair

Value

U.S.

TREASURY

BONDS

&

NOTES

—

4.04%

2,158,200

United

States

Treasury

Bond,

1.88 %

,

11/15/51

(e) 1,192,911

2,644,100

United

States

Treasury

Bond,

2.38 %

,

2/15/42

(e) 1,946,305

1,500,000

United

States

Treasury

Note,

1.13 %

,

2/15/31

1,320,645

2,251,000

United

States

Treasury

Note,

4.00 %

,

2/15/34

2,243,966

Total

(Cost $7,314,431)

6,703,827

Shares

Fair

Value

MONEY

MARKET

FUNDS

—

1.63%

2,704,728

Federated

Hermes

Treasury

Obligations

Fund,

Institutional

Shares,

3.67%

(f) 2,704,728

Total

Money

Market

Funds

(Cost

$2,704,728)

2,704,728

Total

Investments—

99.66%

(Cost

$166,730,609)

165,435,206

Other

Assets

in

Excess

of

Liabilities

—

0.34%

565,833

NET

ASSETS

—

100.00%

$

166,001,039

Sterling

Capital

Quality

Income

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

(a) Security

exempt

from

registration

under

Rule

144A

or

Section

4(2)

of

the

Securities

Act

of

1933. The

security

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

The

Advisor,

using

Board

approved

procedures,

has

deemed

these

securities

or

a

portion

of

these

securities

to

be

liquid.

(b) Security

is

a

fix-to-float

security,

which

carries

a

fixed

coupon

until

a

certain

date,

upon

which

it

switches

to

a

floating

rate.

Rate

shown

is

the

fixed

rate.

(c) The

interest

rate

for

this

variable

rate

note,

which

will

change

periodically,

is

based

either

on

the

prime

rate

or

an

index

of

market

rates.

The

reflected

rate

is

in

effect

as

of

December

31,

2025. The

maturity

date

reflected

is

the

final

maturity

date.

(d) The

security

was

purchased

on a

when-issued

of

forward

commitment

basis

(Note

3)

(e) All

or

a

portion

of

the

securities

are

held

in

a

separate

collateral

account

at

US

Bank.

The

total

value

of

securities

held

in

a

separate

collateral

account

as

of

the

period

ended

December

31,

2025

is

$9,832,525,

which

represents

5.9%

of

net

assets.

(f) Represents

the

current

yield

as

of

report

date.

Sterling

Capital

North

Carolina

Intermediate

Tax-Free

Fund

Schedule

of

Investments

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

MUNICIPAL

BONDS

—

98.50%

North

Carolina

—

98.50%

$

575,000

Brunswick

County,

NC,

Enterprise

Systems

Revenue,

Callable

2/1/33

@

,

5.00 %,

2/1/41

$

624,080

500,000

Brunswick

County,

NC,

Enterprise

Systems

Revenue,

Callable

2/1/33

@

,

5.00 %,

2/1/42

537,887

1,100,000

Cabarrus

County,

NC,

Refunding

Revenue

Bonds

Series

A

,

5.00 %,

6/1/31

1,241,653

2,000,000

Charlotte,

NC,

Current

Refunding

G.O.

Series

A,

Callable

6/1/29

@

,

5.00 %,

6/1/34

2,148,102

2,000,000

Charlotte,

NC,

Public

Facilities,

Certification

of

Participation

Series

B,

Callable

12/1/31

@

,

5.00 %,

12/1/32

2,260,073

2,275,000

Charlotte,

NC,

Recreational

Facilities

Improvements

Revenue,

Callable

12/1/28

@

,

5.00 %,

12/1/33

2,415,664

1,520,000

Charlotte,

NC,

Recreational

Facilities

Improvements

Revenue,

Callable

12/1/28

@

,

5.00 %,

12/1/34

1,610,696

2,650,000

Charlotte,

NC,

Water

&

Sewer

System

Revenue,

Refunding

Revenue

Bonds

Series

A,

Callable

7/1/32

@

,

5.00 %,

7/1/39

2,934,827

1,130,000

Chatham

County,

NC,

Refunding

Revenue

(County

Guaranteed)

,

5.00 %,

12/1/28

1,172,734

1,760,000

City

of

Asheville

NC

Water

System

Revenue

,

5.00 %,

8/1/42

1,922,499

1,500,000

City

of

Charlotte

NC

Water

&

Sewer

System

Revenue

,

5.00 %,

7/1/31

1,699,785

1,720,000

City

of

Fayetteville

NC

Public

Works

Comm.

Rev.

,

5.00 %,

3/1/40

1,895,067

2,000,000

City

of

Greensboro

NC

,

5.00 %,

4/1/41

2,169,967

850,000

City

of

Winston-Salem

NC

,

5.00 %,

6/1/31

962,224

2,100,000

Concord,

NC,

Recreational

Facility

Improvements

G.O.,

Callable

9/1/33

@

,

5.00 %,

9/1/34

2,439,853

720,000

County

of

Ashe

NC

,

5.00 %,

6/1/38

816,278

500,000

County

of

Ashe

NC

,

5.00 %,

6/1/39

563,293

2,210,000

County

of

Forsyth,

NC

,

5.00 %,

6/1/30

2,450,373

2,060,000

County

of

Guilford

NC

,

5.00 %,

3/1/39

2,362,437

2,000,000

County

of

Guilford

NC

,

5.00 %,

3/1/32

2,290,676

2,000,000

County

of

Iredell

NC

,

5.00 %,

4/1/37

2,331,665

2,000,000

County

of

Mecklenburg

NC

,

5.00 %,

2/1/31

2,250,313

2,185,000

County

of

Orange

NC

,

5.00 %,

10/1/38

2,520,817

1,795,000

County

of

Transylvania,

NC

,

5.00 %,

4/1/30

1,981,079

1,450,000

County

of

Wake

NC

,

5.00 %,

4/1/39

1,664,726

1,150,000

Currituck

County,

NC,

Callable

4/1/33

@

,

5.00 %,

4/1/36

1,302,837

Sterling

Capital

North

Carolina

Intermediate

Tax-Free

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

MUNICIPAL

BONDS

—

(continued)

North

Carolina

—

(continued)

$

1,150,000

Currituck

County,

NC,

Callable

4/1/33

@

,

5.00 %,

4/1/37

$

1,295,060

1,000,000

Currituck

County,

NC,

Callable

4/1/33

@

,

5.00 %,

4/1/38

1,118,142

1,000,000

Durham

County,

NC,

Current

Refunding

G.O.

,

5.00 %,

6/1/29

1,085,662

1,000,000

Elizabeth

City

State

University,

Board

of

Governors

of

NC,

Advance

Refunding

Revenue

Bonds,

Callable

4/1/29

@

(AGM)

,

5.00 %,

4/1/40

1,031,961

1,690,000

Fayetteville,

NC,

Public

Works

Commission,

Electric

Light

&

Power

Improvements

Revenue,

Callable

3/1/24

@

,

5.00 %,

3/1/29

1,779,337

1,180,000

Fuquay-Varina

NC

Combined

Utilities

Revenue

,

5.00 %,

2/1/38

1,333,864

2,000,000

Greensboro,

NC,

Recreational

Facility

Improvements

G.O.

Series

B,

Callable

4/1/32

@

,

5.00 %,

4/1/40

2,186,978

880,000

Johnston

County,

NC,

Water

Utility

Improvements

Revenue

Bonds,

Callable

4/1/33

@

,

5.00 %,

4/1/39

979,186

1,000,000

Macon

County,

NC

,

5.00 %,

10/1/41

1,096,963

1,100,000

Mecklenburg

County,

NC,

Limited

Obligations

,

5.00 %,

2/1/38

1,261,410

1,100,000

Nash

Health

Care

Systems

,

5.00 %,

2/1/32

1,218,287

1,000,000

North

Carolina

Agricultural

&

Technical

State

University,

Refunding

Revenue

Series

A

,

5.00 %,

10/1/52

1,034,705

500,000

North

Carolina

Agricultural

&

Technical

State

University,

Refunding

Revenue

Series

A

,

5.00 %,

10/1/48

520,762

500,000

North

Carolina

Agricultural

&

Technical

State

University,

Refunding

Revenue

Series

A

,

5.00 %,

10/1/43

532,418

2,345,000

North

Carolina

Capital

Facilities

Finance

Agency,

The

Arc

of

North

Carolina

Project,

Refunding

Revenue

(Housing

and

Urban

Development,

Section

8),

Callable

10/1/27

@

,

5.00 %,

10/1/34

2,356,274

1,000,000

North

Carolina

Central

University,

University

&

College

Improvements,

Revenue

Bonds,

Callable

4/1/29

@

,

5.00 %,

4/1/37

1,045,006

1,205,000

North

Carolina

Central

University,

University

&

College

Improvements,

Revenue

Bonds,

Callable

4/1/29

@

,

5.00 %,

4/1/33

1,276,946

1,000,000

North

Carolina

Housing

Finance

Agency

,

6.25 %,

1/1/56

1,124,102

1,000,000

North

Carolina

Medical

Care

Commission

,

5.00 %,

6/1/55

1,091,236

Sterling

Capital

North

Carolina

Intermediate

Tax-Free

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

MUNICIPAL

BONDS

—

(continued)

North

Carolina

—

(continued)

$

2,500,000

North

Carolina

Medical

Care

Commission

,

5.00 %,

2/1/51

$

2,504,138

2,000,000

North

Carolina

Medical

Care

Commission,

Advance

Refunding

Revenue

Bonds,

Vidant

Health,

Callable

6/1/25

@

,

5.00 %,

6/1/40

(a) 2,001,421

1,500,000

North

Carolina

Medical

Care

Commission,

Health,

Hospital

and

Nursing

Home

Improvements,

Revenue

Bonds

Series

A,

Callable

1/1/30

@

,

5.00 %,

7/1/32

1,625,718

3,000,000

North

Carolina

State,

Advance

Refunding

Revenue

Bonds

Series

B,

Callable

5/1/27

@

,

5.00 %,

5/1/30

(a) 3,096,355

1,100,000

North

Carolina

State,

Advance

Refunding

Revenue

Bonds

Series

B,

Callable

5/1/27

@

,

5.00 %,

5/1/28

1,136,141

2,000,000

North

Carolina

State,

Build

North

Carolina

Bonds,

Highway

Improvements

Revenue

Bonds

Series

A,

Callable

5/1/29

@

,

5.00 %,

5/1/31

2,152,672

1,100,000

North

Carolina

Turnpike

Authority,

Senior

Lien,

Advance

Refunding

Revenue,

Callable

1/1/27

@

(AGM)

,

5.00 %,

1/1/28

1,123,346

1,060,000

Pitt

County,

NC,

Advance

Refunding

Revenue

Bonds

Series

B,

Callable

10/1/26

@

,

5.00 %,

4/1/30

1,078,947

2,000,000

Raleigh,

NC,

Combined

Enterprise

System

Revenue,

Current

Refunding

Revenue

Bonds,

Callable

9/1/33

@

,

5.00 %,

9/1/48

2,110,507

2,200,000

Raleigh,

NC,

Refunding

Notes

G.O.

Series

A,

Callable

4/1/33

@

,

5.00 %,

4/1/40

2,437,839

1,025,000

Raleigh,

NC,

Refunding

Notes

G.O.

Series

A,

Callable

4/1/33

@

,

5.00 %,

4/1/36

1,170,418

1,000,000

State

of

North

Carolina

,

5.00 %,

3/1/33

1,068,931

1,470,000

Town

of

Apex,

NC,

Callable

2/1/33

@

,

5.00 %,

2/1/35

(a) 1,686,996

1,195,000

Town

of

Fuquay-Varina

NC,

Multi-Utility

Improvements

G.O.

,

5.00 %,

8/1/31

1,356,140

1,080,000

Town

of

Garner

NC,

Public

Improvements

G.O.

,

5.00 %,

2/1/31

1,213,518

1,080,000

Town

of

Garner

NC,

Public

Improvements

G.O.,

Callable

2/1/33

@

,

5.00 %,

2/1/34

1,241,442

1,730,000

Town

of

Holly

Springs

NC

,

5.00 %,

2/1/33

(a) 2,004,702

1,005,000

Town

of

Huntersville,

NC

,

5.00 %,

12/1/28

1,078,660

1,030,000

Union

County,

NC,

Public

Improvements

Bonds

G.O.,

Callable

3/1/32

@

,

5.00 %,

3/1/34

1,168,352

740,000

University

of

North

Carolina

at

Chapel

Hill

,

5.00 %,

12/1/33

838,372

1,500,000

University

of

North

Carolina

at

Chapel

Hill,

Current

Refunding

Revenue

Bonds

Series

B,

Callable

12/1/31

@

,

5.00 %,

12/1/36

1,667,607

Sterling

Capital

North

Carolina

Intermediate

Tax-Free

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

MUNICIPAL

BONDS

—

(continued)

North

Carolina

—

(continued)

$

1,100,000

University

of

North

Carolina

at

Wilmington,

Current

Refunding

Revenue

Bonds

Series

B,

Callable

10/1/29

@

,

5.00 %,

10/1/34

$

1,184,609

1,585,000

Wake

County,

NC,

Public

Improvements,

G.O.

Series

A,

Callable

3/1/28

@

,

5.00 %,

3/1/30

1,671,511

1,725,000

Wake

County,

NC,

Refunding

Revenue

Bonds

Series

A,

Callable

8/1/28

@

,

5.00 %,

8/1/32

1,826,903

350,000

Watauga

Public

Facilities

Corp.,

School

Improvements

Revenue

Bonds,

Callable

6/1/32

@

,

5.25 %,

6/1/40

386,657

375,000

Watauga

Public

Facilities

Corp.,

School

Improvements

Revenue

Bonds,

Callable

6/1/32

@

,

5.00 %,

6/1/37

416,712

375,000

Watauga

Public

Facilities

Corp.,

School

Improvements

Revenue

Bonds,

Callable

6/1/32

@

,

5.00 %,

6/1/38

414,399

650,000

Watauga

Public

Facilities

Corp.,

School

Improvements

Revenue

Bonds,

Callable

6/1/32

@

Series

Callable

6/1/32

@

,

5.25 %,

6/1/42

704,329

2,060,000

Wilmington,

NC,

Public

Improvements

G.O.

Series

A

,

5.00 %,

5/1/31

2,327,343

1,365,000

Winston-Salem,

NC,

Public

Improvements

G.O.

Series

B,

Callable

6/1/33

@

,

5.00 %,

6/1/35

1,571,621

Total

(Cost $112,224,127)

114,204,210

Shares

Fair

Value

MONEY

MARKET

FUNDS

—

0.71%

823,749

Federated

Hermes

Treasury

Obligations

Fund,

Institutional

Shares,

3.67%

(b) 823,749

Total

Money

Market

Funds

(Cost

$823,749)

823,749

Total

Investments—

99.21%

(Cost

$113,047,876)

115,027,959

Other

Assets

in

Excess

of

Liabilities

—

0.79%

915,750

NET

ASSETS

—

100.00%

$

115,943,709

(a) All

or

a

portion

of

the

securities

are

held

in

a

separate

collateral

account

at

US

Bank.

The

total

value

of

securities

held

in

a

separate

collateral

account

as

of

the

period

ended

December

31,

2025

is

$8,789,474,

which

represents

7.6%

of

net

assets.

(b) Represents

the

current

yield

as

of

report

date.

AGM

Assured

Guaranty

Municipal

Corp.

G.O.

General

Obligation

Sterling

Capital

South

Carolina

Intermediate

Tax-Free

Fund

Schedule

of

Investments

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

MUNICIPAL

BONDS

—

95.09%

South

Carolina

—

95.09%

$

500,000

Aiken

County,

SC,

Consolidated

School

District,

Special

Obligation

Bonds,

School

Improvements

Revenue,

Callable

6/1/29

@

,

4.00 %,

6/1/33

$

514,762

500,000

Anderson

County

School

District

No

4/SC

,

5.00 %,

3/1/38

575,368

500,000

Charleston,

SC,

Waterworks

&

Sewer

System

Revenue,

Water

Utility

Improvements

Revenue

Bonds,

Callable

1/1/30

@

,

5.00 %,

1/1/38

536,356

750,000

Charleston,

SC,

Waterworks

&

Sewer

System

Revenue,

Water

Utility

Improvements

Revenue

Bonds,

Callable

7/1/32

@

,

5.00 %,

1/1/52

783,027

500,000

Clemson

University

,

5.00 %,

5/1/47

530,120

500,000

Columbia,

SC,

Waterworks

&

Sewer

System

Revenue,

Water

&

Sewer

Utility

Improvements

Revenue,

Callable

2/1/28

@

,

5.00 %,

2/1/48

525,680

500,000

Columbia,

SC,

Waterworks

&

Sewer

System

Revenue,

Water

&

Sewer

Utility

Improvements

Revenue,

Callable

2/1/33

@

,

5.25 %,

2/1/52

529,714

700,000

County

of

Beaufort

SC

,

5.00 %,

3/1/31

786,640

500,000

County

of

Dorchester

SC

,

5.00 %,

10/1/36

575,238

780,000

Dorchester

County

School

District

No.

4,

School

Improvements

G.O.

Series

A,

Callable

9/1/33

@

(SCSDE)

,

5.00 %,

3/1/43

834,342

500,000

Florence,

SC,

Combined

Waterworks

&

Sewerage

System

Revenue,

Water

Utility

Improvements

Revenue

Bonds,

Callable

9/1/33

@

,

5.00 %,

9/1/37

563,111

500,000

Greenville

Health

System,

Hospital

System

Board

Series

B,

Callable

5/1/24

@

,

5.00 %,

5/1/31

501,084

500,000

Greenwood

County,

SC

,

5.00 %,

10/1/32

553,394

500,000

Lancaster

County,

SC,

School

District,

School

Improvements

G.O.

Series

A,

Callable

3/1/27

@

(SCSDE)

,

4.00 %,

3/1/30

506,722

635,000

Lexington

&

Richland

Counties,

SC,

School

District

No.

5,

School

Improvements

G.O.

(SCSDE)

,

5.00 %,

3/1/33

733,888

600,000

Lexington

County,

SC,

School

District

No.

1,

School

Improvements

G.O.

Series

B,

Callable

2/1/29

@

(SCSDE)

,

5.00 %,

2/1/31

642,716

500,000

Lexington

County,

SC,

School

District

No.

2,

G.O.

Series

C,

Callable

3/1/27

@

(SCSDE)

,

5.00 %,

3/1/31

513,048

585,000

Lugoff-Elgin

Water

Authority,

Refunding

Revenue

Series

B,

Callable

7/1/26

@

,

5.00 %,

7/1/30

(a) 591,253

500,000

Newberry

Investing

in

Children's

Education

,

5.00 %,

12/1/30

549,551

Sterling

Capital

South

Carolina

Intermediate

Tax-Free

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

MUNICIPAL

BONDS

—

(continued)

South

Carolina

—

(continued)

$

500,000

Oconee

County,

SC

,

5.00 %,

4/1/41

$

543,147

500,000

Orangeburg

County,

SC,

Correctional

Facilities

Improvements,

Installment

Purchase

Revenue

Bonds,

Callable

12/1/27

@

,

5.00 %,

12/1/29

514,556

715,000

Patriots

Energy

Group

Financing

Agency

,

5.25 %,

2/1/54

772,953

500,000

,

DC,

School

District

No.

2,

Refunding

Bonds

G.O.

Series

B,

Callable

3/1/27

@

(SCSDE)

,

4.00 %,

3/1/29

506,657

805,000

Richland

County,

SC,

School

District

No.

2,

School

Improvements

G.O.

Series

A,

Callable

3/1/32

@

(SCSDE)

,

5.00 %,

3/1/36

(a) 901,148

415,000

South

Carolina

Jobs-Economic

Development

Auth

Series

2025-B-2

,

5.00 %,

11/1/49

461,206

645,000

South

Carolina

Jobs-Economic

Development

Authority

,

5.00 %,

11/1/34

736,794

400,000

South

Carolina

Jobs-Economic

Development

Authority

,

5.00 %,

11/1/33

(a) 456,718

850,000

South

Carolina

Jobs-Economic

Development

Authority,

AnMed

Health

Project,

Advanced

Refunding

Revenue

Bonds,

Callable

2/1/26

@

,

5.00 %,

2/1/29

(a) 851,322

500,000

South

Carolina

Jobs-Economic

Development

Authority,

Wofford

College

Project,

University

&

College

Improvements

Revenue,

Callable

4/1/29

@

,

5.00 %,

4/1/44

509,852

750,000

South

Carolina

Public

Service

Authority,

Callable

12/1/32

@

,

5.25 %,

12/1/36

846,152

500,000

South

Carolina

Transportation

Infrastructure

Bank,

Advance

Refunding

Revenue

Series

A,

Callable

10/1/27

@

(AGM)

,

5.00 %,

10/1/38

514,520

500,000

Spartanburg

County

School

District

No.

4,

SC,

School

Improvements

G.O.

(SCSDE)

Series

A,

Callable

3/1/32

@

(SCSDE)

,

5.00 %,

3/1/40

541,547

500,000

Spartanburg

County

School

District

No.

5,

SC,

School

Improvements

G.O.,

Callable

3/1/32

(SCSDE)

,

5.00 %,

3/1/37

556,205

750,000

State

of

South

Carolina,

University

&

College

Improvements

G.O.

Series

A,

Callable

4/1/32

@

,

5.00 %,

4/1/39

826,722

Total

(Cost $20,636,009)

20,885,513

Shares

Fair

Value

MONEY

MARKET

FUNDS

—

3.78%

830,638

Federated

Hermes

Treasury

Obligations

Fund,

Institutional

Shares,

3.67%

(b) 830,638

Sterling

Capital

South

Carolina

Intermediate

Tax-Free

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Shares

Fair

Value

MONEY

MARKET

FUNDS

—

3.78%

-

continued

Total

Money

Market

Funds

(Cost

$830,638)

$

830,638

Total

Investments—

98.87%

(Cost

$21,466,647)

21,716,151

Other

Assets

in

Excess

of

Liabilities

—

1.13%

247,273

NET

ASSETS

—

100.00%

$

21,963,424

(a) All

or

a

portion

of

the

securities

are

held

in

a

separate

collateral

account

at

US

Bank.

The

total

value

of

securities

held

in

a

separate

collateral

account

as

of

the

period

ended

December

31,

2025

is

$2,800,441,

which

represents

12.8%

of

net

assets.

(b) Represents

the

current

yield

as

of

report

date.

AGM

Assured

Guaranty

Municipal

Corp.

G.O.

General

Obligation

SCSDE

South

Carolina

School

District

Enhancement

Sterling

Capital

Virginia

Intermediate

Tax-Free

Fund

Schedule

of

Investments

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

MUNICIPAL

BONDS

—

98.09%

Virginia

—

98.09%

$

750,000

Albemarle

County,

VA,

School

Improvements

G.O.,

(State

Aid

Withholding)

,

5.00 %,

6/1/26

$

757,697

550,000

Arlington

County

Industrial

Development

Authority

,

5.00 %,

7/1/30

601,780

750,000

Arlington

County,

VA,

Public

Improvements

G.O.,

Callable

8/15/27

@

,

5.00 %,

8/15/30

779,771

500,000

Chesapeake

Bay

Bridge

&

Tunnel

District,

First

Tier

General

Resolution,

Highway

Improvements,

Revenue

Bonds,

Callable

7/1/26

@

(AGM)

,

5.00 %,

7/1/41

502,330

750,000

Chesapeake,

VA,

Chesapeake

Expressway,

Callable

7/15/34

@

,

5.00 %,

7/15/41

830,386

750,000

Chesapeake,

VA,

Public

Improvements,

Refunding

G.O.

Series

A,

Callable

18/1/27

@

,

5.00 %,

8/1/30

779,082

1,000,000

Chesterfield

County,

VA,

School

Improvements

G.O.,

(State

Aid

Withholding)

Series

A,

Callable

1/1/28

@

,

4.00 %,

1/1/31

1,029,882

500,000

Chesterfield

County,

VA,

School

Improvements

G.O.,

(State

Aid

Withholding),

Callable

1/1/33

@

,

5.00 %,

1/1/40

548,482

600,000

City

of

Alexandria,

VA

,

5.00 %,

12/15/33

702,380

500,000

City

of

Hampton

VA

,

5.00 %,

10/1/39

573,300

500,000

County

of

Greene

VA

Water

&

Sewer

System

Revenue

,

5.00 %,

5/1/37

559,681

500,000

Culpeper

County,

VA,

Economic

Development

Authority,

VA

Capital

Projects,

Refunding

Revenue,

Callable

6/1/24

@

,

4.00 %,

6/1/26

500,390

500,000

Fairfax

County

Industrial

Development

Authority

,

5.00 %,

5/15/35

558,455

1,145,000

Fairfax

County,

VA,

School

Improvements

G.O.,

Current

Refunding

Series

A,

Callable

4/1/30

@

,

5.00 %,

10/1/30

(a) 1,265,267

1,000,000

Fairfax

County,

VA,

Sewer

Revenue

,

5.00 %,

7/15/54

1,052,148

1,000,000

Hampton

Roads

Transp.

Accountability

Comm.

,

5.00 %,

7/1/31

1,105,694

500,000

Henrico

County

Economic

Development

Authority

,

5.00 %,

11/1/35

577,018

1,000,000

Loudoun

County

Economic

Development

Authority,

Loudoun

County

Public

Improvements

Projects,

Revenue

Bonds

Series

A,

Callable

12/1/31

@

,

5.00 %,

12/1/36

1,108,701

1,000,000

Lynchburg

Economic

Development

Authority

,

5.00 %,

1/1/35

1,091,935

1,000,000

Manassas,

VA,

Public

Improvements,

Public

Facilities

G.O.

(State

Aid

Withholding),

Callable

7/1/29

@

,

4.00 %,

7/1/33

1,046,285

Sterling

Capital

Virginia

Intermediate

Tax-Free

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

MUNICIPAL

BONDS

—

(continued)

Virginia

—

(continued)

$

1,000,000

Norfolk,

VA,

Callable

8/1/28

@

,

5.00 %,

8/1/47

$

1,063,573

500,000

Norfolk,

VA,

Water

Revenue,

Callable

11/1/33

@

,

5.00 %,

11/1/44

535,761

750,000

Norfolk,

VA,

Water

Revenue,

Callable

11/1/33

@

,

5.00 %,

11/1/40

834,106

1,000,000

Roanoke,

VA,

School

Improvements

G.O.,

Callable

4/1/32

@

,

5.00 %,

4/1/34

(a) 1,132,772

500,000

Salem

Economic

Development

Authority

,

5.00 %,

4/1/40

517,972

1,000,000

Salem,

VA,

School

Improvements

G.O.,

Current

Refunding

,

5.00 %,

5/1/28

1,056,386

750,000

Spotsylvania

County,

VA,

School

Improvements

G.O.,

Callable

7/15/32

@

,

5.00 %,

1/15/37

839,105

500,000

Spotsylvania

County,

VA,

School

Improvements

G.O.,

Callable

7/15/32

@

,

5.00 %,

1/15/38

555,870

1,085,000

Suffolk,

VA,

Callable

2/1/32

@

,

5.00 %,

2/1/43

(a) 1,159,025

1,000,000

Upper

Occoquan

Sewage

Authority

,

5.00 %,

7/1/37

1,159,926

1,000,000

Virginia

College

Building

Authority,

University

&

College

Improvements

Revenue

Bonds

(State

Intercept)

Series

C

,

5.00 %,

9/1/29

1,089,312

1,000,000

Virginia

Housing

Development

Authority,

Callable

4/1/26

@

,

3.00 %,

10/1/29

1,000,341

585,000

Virginia

Port

Authority

,

5.00 %,

7/1/32

665,383

750,000

Virginia

Port

Authority

Commonwealth

Port

Fund,

Airport

&

Marina

Improvements

Revenue

Bonds

Series

A

,

5.00 %,

7/1/41

815,988

1,035,000

Virginia

Public

School

Authority,

School

Improvements

Revenue

Bonds

(State

Aid

Withholding)

,

5.00 %,

8/15/30

1,152,345

1,000,000

Virginia

Public

School

Authority,

School

Improvements

Revenue

Bonds

(State

Aid

Withholding)

,

5.00 %,

1/15/30

1,100,072

600,000

Virginia

Small

Business

Financing

Authority

,

5.00 %,

10/1/32

657,017

750,000

Winchester

Economic

Development

Authority,

Callable

1/1/34

@

,

5.00 %,

1/1/42

800,665

Total

(Cost $31,735,438)

32,106,283

Shares

Fair

Value

MONEY

MARKET

FUNDS

—

0.62%

202,839

Federated

Hermes

Treasury

Obligations

Fund,

Institutional

Shares,

3.67%

(b) 202,839

Sterling

Capital

Virginia

Intermediate

Tax-Free

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Shares

Fair

Value

MONEY

MARKET

FUNDS

—

0.62%

-

continued

Total

Money

Market

Funds

(Cost

$202,839)

$

202,839

Total

Investments—

98.71%

(Cost

$31,938,277)

32,309,122

Other

Assets

in

Excess

of

Liabilities

—

1.29%

423,813

NET

ASSETS

—

100.00%

$

32,732,935

(a) All

or

a

portion

of

the

securities

are

held

in

a

separate

collateral

account

at

US

Bank.

The

total

value

of

securities

held

in

a

separate

collateral

account

as

of

the

period

ended

December

31,

2025

is

$3,557,064,

which

represents

10.9%

of

net

assets.

(b) Represents

the

current

yield

as

of

report

date.

AGM

Assured

Guaranty

Municipal

Corp.

G.O.

General

Obligation

Sterling

Capital

West

Virginia

Intermediate

Tax-Free

Fund

Schedule

of

Investments

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

MUNICIPAL

BONDS

—

98.16%

West

Virginia

—

98.16%

$

500,000

Berkeley

County

Public

Service

Sewer

,

5.00 %,

6/1/40

$

534,902

1,000,000

Berkeley

County,

Board

of

Education,

School

Improvements

G.O.

(West

Virginia

Board

Commission)

,

4.00 %,

6/1/28

1,032,025

1,750,000

Berkeley

County,

Board

of

Education,

School

Improvements

G.O.

(West

Virginia

Board

Commission),

Callable

6/1/33

@

,

4.00 %,

6/1/36

(a) 1,833,440

1,000,000

Berkeley

County,

WV,

Public

Service

Sewer

District,

Miscellaneous

Purposes

Revenue

Series

C,

Callable

10/30/23

@

(BAM)

,

4.50 %,

10/1/32

1,001,082

1,000,000

Braxton

County,

WV,

Board

of

Education,

Public

School,

Advance

Refunding

G.O.

(West

Virginia

Board

Commission),

Callable

5/1/26

@

,

5.00 %,

5/1/28

(a) 1,007,672

610,000

Fairmont

State

University

,

5.00 %,

6/1/26

614,942

1,000,000

Hancock

County

Board

of

Education

,

5.00 %,

6/1/35

1,116,049

1,360,000

Marshall

University,

WV,

University

&

College

Improvements

Revenue

Bonds

Series

A

(AGM)

,

5.00 %,

5/1/30

1,480,864

705,000

Morgantown

Utility

Board,

WV,

Combined

Water

Utility

Improvements

Revenue

Series

B,

Callable

6/1/28

@

,

5.00 %,

12/1/34

739,736

1,140,000

Morgantown

Utility

Board,

WV,

Water

Utility

Improvements

Revenue

Bonds

Series

B,

Callable

6/1/28

@

,

5.00 %,

12/1/36

1,190,735

750,000

Ohio

County,

WV,

Board

of

Education,

School

Improvements

G.O.

(West

Virginia

Board

Commission)

,

3.00 %,

6/1/28

750,658

1,000,000

Ohio

County,

WV,

Board

of

Education,

School

Improvements

G.O.

(West

Virginia

Board

Commission)

,

4.00 %,

6/1/29

1,039,675

1,275,000

Ohio

County,

WV,

Callable

6/1/34

@

,

5.25 %,

6/1/44

1,293,341

1,000,000

Putnam

County

Board

of

Education/WV

,

5.00 %,

6/1/32

1,127,999

1,500,000

Putnam

County

Board

of

Education/WV

,

5.00 %,

6/1/37

1,701,178

765,000

School

Building

Authority

of

West

Virginia,

Lottery

Capital

Improvements

Revenue

Series

A,

Callable

7/1/24

@

,

5.00 %,

7/1/28

766,431

1,000,000

State

of

West

Virginia,

Callable

6/1/29

@

,

5.00 %,

6/1/44

1,033,229

1,505,000

State

of

West

Virginia,

Callable

6/1/31

@

,

5.00 %,

6/1/45

1,574,277

1,000,000

State

of

West

Virginia,

Fuel

Sales

Tax

Revenue,

Group

Highway

Improvements,

G.O.

Series

S,

Callable

6/1/29

@

,

5.00 %,

12/1/35

1,068,984

Sterling

Capital

West

Virginia

Intermediate

Tax-Free

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

MUNICIPAL

BONDS

—

(continued)

West

Virginia

—

(continued)

$

1,000,000

Taylor

County,

WV,

Board

of

Education,

Callable

6/1/34

@

,

5.00 %,

6/1/36

$

1,147,576

1,000,000

Taylor

County,

WV,

Board

of

Education,

Callable

6/1/34

@

,

5.00 %,

6/1/35

1,153,568

850,000

West

Virginia

Commissioner

of

Highways,

Callable

9/1/27

@

,

5.00 %,

9/1/28

883,169

500,000

West

Virginia

Economic

Development

Authority

,

3.38 %,

3/1/40

505,562

1,145,000

West

Virginia

Economic

Development

Authority,

Lottery

Recreational

Facilities

Improvements

Revenue

Series

A,

Callable

7/1/27

@

,

5.00 %,

7/1/28

1,186,555

1,500,000

West

Virginia

Economic

Development

Authority,

Provident

Group

-

Marshall

Properties

L.L.C,

Current

Refunding

Revenue

Bonds

Series

A-1,

Callable

7/1/33

@

,

5.00 %,

7/1/37

1,639,294

1,125,000

West

Virginia

Hospital

Finance

Authority

,

5.00 %,

6/1/39

1,227,515

1,470,000

West

Virginia

Hospital

Finance

Authority,

Charleston

Area

Medical

Center

Inc.,

Health,

Hospital,

Nursing

Home

Improvements,

Refunding

Revenue,

Callable

9/1/29

@

,

5.00 %,

9/1/39

1,505,188

1,000,000

West

Virginia

Hospital

Finance

Authority,

Health

Care

Facilities

Revenue

Bonds

Series

A,

Callable

6/1/33

@

,

5.00 %,

6/1/41

1,069,924

905,000

West

Virginia

Housing

Development

Fund,

Revenue

Bonds

Series

A

,

3.30 %,

11/1/29

915,862

1,070,000

West

Virginia

Housing

Development

Fund,

Revenue

Bonds

Series

A

,

3.25 %,

5/1/29

1,080,976

735,000

West

Virginia

Lottery

Excess

Lottery

Revenue

,

5.00 %,

7/1/39

804,015

1,980,000

West

Virginia

Parkways

Authority,

Highway

Improvements,

Senior

Lien

Revenue

Bonds,

Callable

6/1/31

@

,

5.00 %,

6/1/47

2,048,106

1,105,000

West

Virginia

Parkways

Authority,

Senior

Turnpike

Toll

Revenue,

Highway

Improvements,

Callable

6/1/28

@

,

5.00 %,

6/1/39

1,145,877

1,000,000

West

Virginia

State

School

Building

Authority,

Lottery

Revenue,

School

Improvements

Revenue

Series

A,

Callable

7/1/28

@

,

5.00 %,

7/1/29

1,059,982

1,610,000

West

Virginia

University,

University

Projects,

University

&

College

Improvements

Revenue

Series

A,

Callable

10/1/31

@

,

5.00 %,

10/1/43

1,688,313

1,015,000

West

Virginia

Water

Development

Authority

,

5.00 %,

11/1/35

1,049,478

Sterling

Capital

West

Virginia

Intermediate

Tax-Free

Fund

Schedule

of

Investments

(continued)

December

31,

2025

(Unaudited)

Principal

Amount

Fair

Value

MUNICIPAL

BONDS

—

(continued)

West

Virginia

—

(continued)

$

1,000,000

West

Virginia

Water

Development

Authority,

Loan

Program

II,

Refunding

Revenue

Series

A-II,

Callable

11/1/23

@

,

5.00 %,

11/1/26

(a) $

1,001,617

600,000

West

Virginia

Water

Development

Authority,

West

Virginia

Infrastructure

&

Jobs,

Current

Refunding

Revenue

Bonds,

Callable

10/1/26

@

,

5.00 %,

10/1/31

608,924

1,500,000

Wood

County,

WV,

Board

of

Education,

Callable

6/1/33

@

,

4.50 %,

6/1/34

1,634,867

1,000,000

Wood

County,

WV,

Board

of

Education,

Callable

6/1/33

@

,

4.50 %,

6/1/35

1,079,415

1,000,000

Wyoming

County,

WV,

Board

of

Education,

Callable

6/1/34

@

,

5.00 %,

6/1/35

1,143,944

1,000,000

Wyoming

County,

WV,

Board

of

Education,

Callable

6/1/34

@

,

5.00 %,

6/1/36

1,135,634

Total

(Cost $47,160,253)

47,622,580

Shares

Fair

Value

MONEY

MARKET

FUNDS

—

0.93%

452,859

Federated

Hermes

Treasury

Obligations

Fund,

Institutional

Shares,

3.67%

(b) 452,859

Total

Money

Market

Funds

(Cost

$452,859)

452,859

Total

Investments—

99.09%

(Cost

$47,613,112)

48,075,439

Other

Assets

in

Excess

of

Liabilities

—

0.91%

439,074

NET

ASSETS

—

100.00%

$

48,514,513

(a) All

or

a

portion

of

the

securities

are

held

in

a

separate

collateral

account

at

US

Bank.

The

total

value

of

securities

held

in

a

separate

collateral

account

as

of

the

period

ended

December

31,

2025

is

$3,842,729,

which

represents

7.9%

of

net

assets.

(b) Represents

the

current

yield

as

of

report

date.

Sterling

Capital

Multi-Strategy

Income

ETF

Schedule

of

Investments

December

31,

2025

-

(Unaudited)

Asset

Backed

Securities

—

33.28%

Principal

Amount

Fair

Value

Exeter

Automobile

Receivables

Trust

2024-5,

Series

5A,

5.06%,

2/18/2031

$

150,000

$

150,707

Hertz

Vehicle

Financing

III,

LLC,

Series

6A,

4.89%,

5/25/2032

(a) 200,000

201,007

PFS

Financing

Corp.,

Series

B,

5.71%,

5/15/2028

(a) 100,000

100,439

Retained

Vantage

Data

Centers

Issuer,

LLC,

Series

1A,

4.99%,

9/15/2049

(a) 125,000

124,005

Sierra

Timeshare

2024-1

Receivables

Funding,

LLC,

Series

1A,

5.15%,

1/20/2043

(a) 109,118

110,437

SMB

Private

Education

Loan

Trust

2024-C,

Series

C,

5.50%,

6/17/2052

(a) 130,890

134,378

SoFi

Consumer

Loan

Program

2025-1

Trust,

Series

1,

5.12%,

2/27/2034

(a) 250,000

252,801

Stack

Infrastructure

Issuer,

LLC,

Series

2A,

5.90%,

7/25/2048

(a) 125,000

125,629

Tricon

Residential

2024-SFR1

Trust,

Series

SFR1,

4.65%,

4/17/2041

(a) 127,819

128,079

Vantage

Data

Centers,

LLC,

Series

1A,

5.13%,

8/15/2055

(a) 250,000

247,297

Harbor

Park

CLO

Ltd.,

Series

1A,

5.53%,

1/20/2031

(a) 250,000

249,680

Madison

Park

Funding

XXXVII

Ltd.,

Series

37A,

6.51%,

4/15/2037

(a) 250,000

250,762

Neuberger

Berman

Loan

Advisers

CLO

Ltd.,

Series

26A,

5.88%,

10/18/2038

(a) 250,000

250,149

RR

Ltd.,

Series

16A,

5.71%,

7/15/2036

(a) 250,000

249,109

BPR

Trust

2023-BRK2,

Series

BRK2,

6.90%,

10/5/2038

(a)(b) 260,000

271,437

BX

Trust

2021-BXMF,

Series

BXMF,

5.70%,

10/15/2026

(a) 107,434

107,273

BX

Trust

2024-VLT4,

Series

VLT4,

5.89%,

6/15/2041

(a) 275,000

274,488

SREIT

Trust

2021-MFP2,

Series

MFP2,

5.24%,

11/15/2036

(a) 100,000

99,970

TOTAL

ASSET

BACKED

SECURITIES

&nbsp;&nbsp;&nbsp;&nbsp;(Cost $3,327,962)

3,327,647

Corporate

Bonds

—

49.24%

Principal

Amount

Fair

Value

Communications

—

3.69%

APLD

ComputeCo

,

LLC,

9.25%,

12/15/2030

(a) 76,000

74,686

CCO

Holdings,

LLC

/

CCO

Holdings

Capital,

7.38%,

3/3/2031

(a) 96,000

97,967

Cipher

Compute,

LLC,

7.13%,

11/15/2030

(a) 97,000

98,793

WULF

Compute,

LLC,

7.75%,

10/15/2030

(a) 95,000

97,873

369,319

Consumer

Discretionary

—

8.15%

Adient

Global

Holdings,

7.50%,

2/15/2033

(a) 95,000

98,045

American

Axle

&

Manufacturing,

Inc.,

5.00%,

10/1/2029

104,000

100,181

Bath

&

Body

Works,

Inc.,

6.88%,

11/1/2035

98,000

99,143

Builders

FirstSource

,

Inc.,

6.75%,

5/15/2035

(a) 71,000

74,232

Macy's

Retail

Holdings,

LLC,

6.13%,

3/15/2032

(a) 73,000

73,897

NCL

Corporation

Ltd.,

6.25%,

3/1/2030

(a) 97,000

98,514

Sterling

Capital

Multi-Strategy

Income

ETF

Schedule

of

Investments

(continued)

December

31,

2025

-

(Unaudited)

Corporate

Bonds

—

49.24%-

continued

Principal

Amount

Fair

Value

Consumer

Discretionary

—

8.15%

-

continued

New

Home

Company,

Inc.

(The),

9.25%,

10/1/2029

(a) $

94,000

$

98,105

Newell

Brands,

Inc.,

8.50%,

6/1/2028

(a) 71,000

74,446

Phinia

,

Inc.,

6.63%,

10/15/2032

(a) 95,000

98,367

814,930

Consumer

Staples

—

0.99%

Albertsons

Cos

Inc,

6.25%,

3/15/2033

(a) 96,000

98,689

Energy

—

9.57%

Antero

Midstream

Partners,

L.P.

/

Antero

Midstream,

5.75%,

10/15/2033

(a) 98,000

98,593

Ascent

Resources

Utica

Holdings,

LLC

/

ARU

Finance,

6.63%,

10/15/2032

(a) 72,000

74,436

Buckeye

Partners,

L.P.,

6.75%,

2/1/2030

(a) 70,000

73,481

Civitas

Resources,

Inc.,

9.63%,

6/15/2033

(a) 88,000

94,932

Crescent

Energy

Finance,

LLC,

7.63%,

4/1/2032

(a) 100,000

96,952

Energy

Transfer,

L.P.,

8.00%,

5/15/2054

(H15T5Y

+

4bps)

(b) 93,000

99,272

Global

Partners,

L.P.

/

GLP

Finance

Corporation,

8.25%,

1/15/2032

(a) 92,000

96,902

Permian

Resources

Operating,

LLC,

7.00%,

1/15/2032

(a) 70,000

72,932

Sunoco,

L.P.,

7.25%,

5/1/2032

(a) 70,000

74,014

Venture

Global

LNG

Inc.,

9.00%,

3/30/2174

(H15T5Y

+

5bps)

(a)(b) 64,000

50,543

Venture

Global

Plaquemines

LNG,

LLC,

6.13%,

12/15/2030

(a) 50,000

50,934

Wildfire

Intermediate

Holdings,

LLC,

7.50%,

10/15/2029

(a) 73,000

73,664

956,655

Financials

—

11.86%

American

National

Group,

Inc.,

7.00%,

12/1/2055

(H15T5Y

+

3bps)

(b) 99,000

99,093

Apollo

Debt

Solutions

BDC,

6.90%,

4/13/2029

71,000

74,499

Citigroup,

Inc.,

6.63%,

5/15/2174

(H15T5Y

+

3bps)

(b) 124,000

125,860

Corebridge

Financial,

Inc.,

6.88%,

12/1/2174

(H15T5Y

+

3bps)

(b) 97,000

99,797

Global

Atlantic

Fin

Company,

7.95%,

10/15/2054

(H15T5Y

+

4bps)

(a)(b) 95,000

98,093

Jane

Street

Group

/

JSG

Finance,

Inc.,

6.75%,

5/1/2033

(a) 95,000

99,161

OneMain

Finance

Corporation,

7.88%,

3/15/2030

93,000

98,306

Panther

Escrow

Issuer,

LLC,

7.13%,

6/1/2031

(a) 93,000

96,371

PennyMac

Financial

Services,

Inc.,

5.75%,

9/15/2031

(a) 97,000

97,401

SBL

Holdings,

Inc.,

6.50%,

11/13/2174

(H15T5Y

+

6bps)

(a)(b) 104,000

98,486

Starwood

Property

Trust,

Inc.,

6.50%,

10/15/2030

(a) 95,000

99,047

Stonebriar

A.B.F

Issuer,

LLC,

8.13%,

12/15/2030

(a) 97,000

99,645

1,185,759

Sterling

Capital

Multi-Strategy

Income

ETF

Schedule

of

Investments

(continued)

December

31,

2025

-

(Unaudited)

Corporate

Bonds

—

49.24%-

continued

Principal

Amount

Fair

Value

Health

Care

—

2.92%

Amneal

Pharmaceuticals,

LLC,

6.88%,

8/1/2032

(a) $

92,000

$

97,067

Prime

Healthcare

Services,

Inc.,

9.38%,

9/1/2029

(a) 92,000

96,600

Star

Parent,

Inc.,

9.00%,

10/1/2030

(a) 92,000

98,191

291,858

Industrials

—

6.61%

ADT

Security

Corporation

(The),

5.88%,

10/15/2033

(a) 98,000

99,215

American

Airlines,

Inc./AAdvantage

Loyalty

IP

Ltd.,

5.75%,

4/20/2029

(a) 73,000

74,334

Bombardier,

Inc.,

6.75%,

6/15/2033

(a) 91,000

96,197

GFL

Environmental,

Inc.,

6.75%,

1/15/2031

(a) 93,000

97,572

Herc

Holdings,

Inc.,

7.25%,

6/15/2033

(a) 91,000

96,688

Stonepeak

Nile

Parent,

LLC,

7.25%,

3/15/2032

(a) 93,000

98,419

TransDigm

,

Inc.,

6.00%,

1/15/2033

(a) 96,000

98,253

660,678

Materials

—

2.73%

Cleveland-Cliffs,

Inc.,

7.38%,

5/1/2033

(a) 95,000

98,803

Commercial

Metals

Company,

5.75%,

11/15/2033

(a) 98,000

100,208

Quikrete

Holdings,

Inc.,

6.38%,

3/1/2032

(a) 71,000

73,904

272,915

Technology

—

0.99%

Iron

Mountain

Information

Management

Services,,

5.00%,

7/15/2032

(a) 104,000

99,285

Utilities

—

1.73%

Alpha

Generation,

LLC,

6.25%,

1/15/2034

(a) 98,000

98,865

Vistra

Operations

Company,

LLC,

7.75%,

10/15/2031

(a) 70,000

74,142

173,007

TOTAL

CORPORATE

BONDS

&nbsp;&nbsp;&nbsp;&nbsp;(Cost $4,921,975)

4,923,095

U.S.

Government

&

Agencies

—

16.43%

Principal

Amount

Fair

Value

Fannie

Mae

Pool,

5.00%,

12/1/2045

248,468

250,085

Fannie

Mae

Pool,

5.50%,

8/1/2053

244,907

249,460

Fannie

Mae

Pool,

5.50%,

1/1/2055

242,696

247,053

Freddie

Mac

Pool,

5.00%,

8/1/2053

249,513

249,991

Freddie

Mac

Pool,

6.00%,

2/1/2055

240,276

250,743

Freddie

Mac

Pool,

6.00%,

4/1/2055

237,319

245,425

Sterling

Capital

Multi-Strategy

Income

ETF

Schedule

of

Investments

(continued)

December

31,

2025

-

(Unaudited)

U.S.

Government

&

Agencies

—

16.43%-

continued

Principal

Amount

Fair

Value

United

States

Treasury

Bill,

0.00%,

3/12/2026

$

151,300

$

150,272

TOTAL

U.S.

GOVERNMENT

&

AGENCIES

&nbsp;&nbsp;&nbsp;&nbsp;(Cost $1,641,386)

1,643,029

Description

Number

of

Contracts

Notional

Amount

Exercise

Price

Expiration

Date

Fair

Value

PURCHASED

PUT

OPTIONS

—

0.05%

iShares

iBoxx

$

High

Yield

Corporate

Bond

ETF

$1,007,875

$79.00

March

2026

5,250

TOTAL

PURCHASED

PUT

OPTIONS

&nbsp;&nbsp;&nbsp;&nbsp;(Cost

$7,176)

5,250

TOTAL OPTIONS

&nbsp;&nbsp;&nbsp;&nbsp;(Cost

$7,176)

5,250

Money

Market

Funds

—

0.37%

Shares

Fair

Value

Federated

Hermes

Treasury

Obligations

Fund,

,

3.67%

(c) 37,397

37,397

TOTAL

MONEY

MARKET

FUNDS

&nbsp;&nbsp;&nbsp;&nbsp;(Cost

$37,397)

37,397

Total

Investments

—

99.37%

&nbsp;&nbsp;&nbsp;&nbsp;(Cost

$9,935,896)

9,936,418

Other

Assets

in

Excess

of

Liabilities

—

0.63%

63,072

Net

Assets

—

100.00%

$

9,999,490

(a) Security

exempt

from

registration

under

Rule

144A

or

Section

4(2)

of

the

Securities

Act

of

1933. The

security

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

The

Advisor,

using

Board

approved

procedures,

has

deemed

these

securities

or

a

portion

of

these

securities

to

be

liquid.

(b) The

interest

rate

for

this

variable

rate

note,

which

will

change

periodically,

is

based

either

on

the

prime

rate

or

an

index

of

market

rates.

The

reflected

rate

is

in

effect

as

of

December

31,

2025. The

maturity

date

reflected

is

the

final

maturity

date.

(c) Represents

the

current

yield

as

of

report

date.

Sterling

Capital

Multi-Strategy

ETF

Schedule

of

Open

Written

Options

Contracts

December

31,

2025

-

(Unaudited)

Description

Number

of

Contracts

Notional

Amount

Exercise

Price

Expiration

Date

Fair

Value

WRITTEN

OPTIONS

(0.04)%

WRITTEN

PUT

OPTIONS

(0.04)%

iShares

iBoxx

$

High

Yield

Corporate

Bond

ETF

(125) $

(1,007,875)

$

77.00 March

2026

$

(4,250)

Total

Written

Put

Options

(Premiums

Received

$3,301)

(4,250)

Total

Written

Options

(Premiums

Received

$3,301)

$(4,250)

Sterling

Capital

National

Municipal

Bond

ETF

Schedule

of

Investments

December

31,

2025

-

(Unaudited)

Principal

Amount

Fair

Value

MUNICIPAL

BONDS

—

98.64%

Alabama

—

10.47%

$

275,000

Black

Belt

Energy

Gas

Dist

Alagas

Project

Revenue,

Series

,

5.50%,

6/1/49

$

290,134

115,000

County

of

Jefferson

AL

Sewer

Revenue

,

5.00 %,

10/1/38

125,770

250,000

Southeast

Energy

Authority

Coop

Dist

Ala

Energy,

Series

2025-E

,

5.00 %,

10/1/30

268,586

150,000

Southeast

Energy

Authority

A

Cooperative

District

,

4.00 %,

12/1/51

151,517

200,000

Southeast

Energy

Authority

A

Cooperative

District

,

5.00 %,

1/1/56

208,385

California

—

12.33%

265,000

California

Community

Choice

Financing

Authority

,

5.00 %,

1/1/56

289,994

270,000

Central

Valley

Energy

Authority

,

5.00 %,

12/1/55

294,110

150,000

City

of

Los

Angeles

Department

of

Airports

,

5.25 %,

5/15/50

156,344

200,000

Los

Angeles

Department

of

Water

&

Power

,

5.00 %,

7/1/49

201,758

90,000

Los

Angeles

Unified

School

District/CA

,

5.00 %,

7/1/45

97,920

175,000

University

of

California

,

5.00 %,

5/15/43

189,477

Colorado

—

3.11%

100,000

City

&

County

of

Denver

CO

Airport

System

Revenue

,

5.00 %,

11/15/53

101,286

115,000

Colorado

Health

Facilities

Authority

,

5.00 %,

8/1/36

120,831

80,000

Colorado

Health

Facilities

Authority

,

5.00 %,

5/15/37

88,065

Connecticut

—

0.71%

70,000

State

of

Connecticut

Special

Tax

Revenue

,

5.00 %,

9/1/26

71,154

District

of

Columbia

—

1.59%

100,000

Metropolitan

Washington

Airports

Authority

,

5.00 %,

10/1/50

102,425

50,000

Washington

Metropolitan

Area

Transit

Authority

,

5.00 %,

7/15/38

55,530

Florida

—

6.98%

150,000

County

of

Miami-Dade

FL

,

4.00 %,

7/1/34

156,454

100,000

County

of

Miami-Dade

FL

Aviation

Revenue

,

5.25 %,

10/1/55

104,944

220,000

Greater

Orlando

Aviation

Authority

,

5.25 %,

10/1/49

228,993

95,000

Hillsborough

County

Aviation

Authority

,

5.50 %,

10/1/54

100,133

100,000

School

District

of

Broward

County/FL

,

5.00 %,

7/1/29

107,585

Georgia

—

4.46%

140,000

City

of

Atlanta

GA

Airport

Passenger

Facility

,

5.25 %,

7/1/43

149,035

Sterling

Capital

National

Municipal

Bond

ETF

Schedule

of

Investments

(continued)

December

31,

2025

-

(Unaudited)

Principal

Amount

Fair

Value

MUNICIPAL

BONDS

—

(continued)

Georgia

—

(continued)

$

290,000

Main

Street

Natural

Gas,

Inc.

,

4.00 %,

9/1/52

$

296,991

Illinois

—

8.51%

100,000

Chicago

O'Hare

International

Airport

,

5.50 %,

1/1/59

103,547

150,000

City

of

Chicago

IL

Wastewater

Transmission

Revenue

,

5.00 %,

1/1/40

164,301

165,000

Illinois

Finance

Authority

,

5.00 %,

5/15/37

183,276

180,000

Illinois

State

Toll

Highway

Authority

,

5.00 %,

1/1/26

180,000

100,000

State

of

Illinois

,

5.00 %,

3/1/32

111,071

100,000

State

of

Illinois

,

5.25 %,

5/1/45

104,434

Kansas

—

0.73%

70,000

State

of

Kansas

Department

of

Transportation

,

5.00 %,

9/1/27

72,886

Maryland

—

3.36%

115,000

County

of

Baltimore

MD

,

5.00 %,

3/1/29

123,591

200,000

Maryland

Health

&

Higher

Educational

Facilities

,

5.25 %,

5/15/55

211,065

Massachusetts

—

2.21%

110,000

Massachusetts

Development

Finance

Agency

,

5.25 %,

7/1/50

113,247

100,000

Massachusetts

Educational

Financing

Authority

,

5.00 %,

7/1/33

108,174

Nebraska

—

1.07%

100,000

Omaha

Public

Power

District

,

5.00 %,

2/1/33

106,788

New

Jersey

—

0.99%

95,000

New

Jersey

Economic

Development

Authority

,

5.00 %,

11/1/27

99,159

New

York

—

9.51%

100,000

City

of

New

York

NY

,

5.00 %,

8/1/38

110,303

135,000

City

of

New

York

NY

,

5.00 %,

3/1/42

144,762

100,000

Metropolitan

Transportation

Authority

,

5.25 %,

11/15/55

104,523

115,000

New

York

City

Municipal

Water

Finance

Authority

,

5.00 %,

6/15/31

119,099

100,000

New

York

City

Municipal

Water

Finance

Authority

,

5.00 %,

6/15/52

103,260

90,000

New

York

City

Transitional

Finance

Authority

,

5.00 %,

11/1/34

104,754

140,000

New

York

City

Transitional

Finance

Authority

,

5.00 %,

11/1/30

155,537

100,000

Port

Authority

of

New

York

&

New

Jersey

,

5.00 %,

7/15/29

106,768

North

Carolina

—

4.16%

115,000

City

of

Charlotte

NC

Airport

Revenue

,

5.25 %,

7/1/53

121,431

Sterling

Capital

National

Municipal

Bond

ETF

Schedule

of

Investments

(continued)

December

31,

2025

-

(Unaudited)

Principal

Amount

Fair

Value

MUNICIPAL

BONDS

—

(continued)

North

Carolina

—

(continued)

$

135,000

Nash

Health

Care

Systems

,

5.75 %,

2/1/50

$

145,195

145,000

North

Carolina

Turnpike

Authority

,

5.00 %,

1/1/58

148,083

Ohio

—

3.06%

180,000

State

of

Ohio

,

5.00 %,

5/1/37

200,830

100,000

State

of

Ohio

,

5.00 %,

1/1/28

104,627

Oregon

—

1.08%

100,000

City

of

Portland

OR

Sewer

System

Revenue

,

5.00 %,

3/1/33

108,125

Pennsylvania

—

6.45%

175,000

City

of

Philadelphia

PA

,

5.00 %,

5/1/36

192,190

100,000

Northampton

County

General

Purpose

Authority

,

5.00 %,

8/15/34

112,587

115,000

Pennsylvania

Economic

Development

Financing

,

5.00 %,

5/15/29

122,989

100,000

Pennsylvania

Turnpike

Commission

,

5.25 %,

12/1/55

106,735

100,000

Pittsburgh

Water

&

Sewer

Authority

,

5.00 %,

9/1/34

109,477

South

Carolina

—

3.13%

185,000

South

Carolina

Jobs-Economic

Development

Authority

,

5.25 %,

11/1/44

197,645

110,000

South

Carolina

Transportation

Infrastructure

Bank

,

5.00 %,

10/1/27

114,688

Texas

—

13.68%

180,000

Austin

Independent

School

District

,

5.00 %,

8/1/36

201,218

100,000

City

of

Houston

TX

,

5.00 %,

3/1/34

113,504

150,000

City

of

Houston

TX

Airport

System

Revenue

,

5.50 %,

7/1/50

158,564

135,000

Dallas

Area

Rapid

Transit

,

5.00 %,

12/1/31

146,642

100,000

Dallas

Fort

Worth

International

Airport

,

5.00 %,

11/1/34

112,004

185,000

Lamar

Consolidated

Independent

School

District

,

5.00 %,

2/15/41

200,549

120,000

Spring

Independent

School

District

,

5.25 %,

8/15/55

127,844

175,000

Texas

Municipal

Gas

Acquisition

&

Supply

,

5.50 %,

1/1/32

194,573

100,000

Texas

Public

Finance

Authority

,

5.00 %,

2/1/39

110,218

Washington

—

1.05%

95,000

State

of

Washington

,

5.00 %,

2/1/38

104,535

Total

(Cost $9,856,048)

9,842,219

Shares

Fair

Value

MONEY

MARKET

FUNDS

—

0.21%

21,071

Federated

Hermes

Treasury

Obligations

Fund,

3.67%

(a) 21,071

Sterling

Capital

National

Municipal

Bond

ETF

Schedule

of

Investments

(continued)

December

31,

2025

-

(Unaudited)

Shares

Fair

Value

MONEY

MARKET

FUNDS

—

0.21%

-

continued

Total

Money

Market

Funds

(Cost

$21,071)

$

21,071

Total

Investments—

98.85%

(Cost

$9,877,119)

9,863,290

Other

Assets

in

Excess

of

Liabilities

—

1.15%

114,940

NET

ASSETS

—

100.00%

$

9,978,230

(a) Represents

the

current

yield

as

of

report

date.

Sterling

Capital

Hedged

Equity

Premium

Income

ETF

Schedule

of

Investments

December

31,

2025

-

(Unaudited)

COMMON

STOCKS

—

97.04%

Shares

Fair

Value

Communications

—

10.30%

Alphabet,

Inc.,

Class

A

2,079

$

650,727

Meta

Platforms,

Inc.,

Class

A

525

346,547

Netflix,

Inc.

(a) 1,603

150,298

1,147,572

Consumer

Discretionary

—

10.08%

Amazon.com,

Inc.

(a) 2,216

511,497

Booking

Holdings,

Inc.

107,106

Darden

Restaurants,

Inc.

627

115,381

Home

Depot,

Inc.

(The)

167,577

McDonald's

Corp.

110,638

TJX

Companies,

Inc.

(The)

722

110,906

1,123,105

Consumer

Staples

—

3.07%

Costco

Wholesale

Corp.

110,380

Procter

&

Gamble

Co.

(The)

804

115,221

Walmart,

Inc.

1,044

116,312

341,913

Energy

—

1.76%

Williams

Companies,

Inc.

(The)

3,265

196,259

Financials

—

15.85%

Aflac,

Inc.

1,194

131,662

Chubb

Ltd.

118,294

Hartford

Insurance

Group,

Inc.

(The)

1,292

178,038

JPMorgan

Chase

&

Co.

1,237

398,586

MasterCard,

Inc.,

Class

A

574

327,685

Moody's

Corp.

506

258,490

Visa,

Inc.,

Class

A

1,006

352,814

1,765,569

Health

Care

—

8.40%

AbbVie,

Inc.

525

119,957

Amgen,

Inc.

116,523

Boston

Scientific

Corp.

(a) 1,213

115,659

Eli

Lilly

&

Co.

217,085

Insulet

Corp.

(a) 380

108,011

Intuitive

Surgical,

Inc.

(a) 201

113,839

Sterling

Capital

Hedged

Equity

Premium

Income

ETF

Schedule

of

Investments

(continued)

December

31,

2025

-

(Unaudited)

COMMON

STOCKS

—

97.04%

-

continued

Shares

Fair

Value

Health

Care

—

8.40%

-

continued

Johnson

&

Johnson

697

$

144,244

935,318

Industrials

—

12.06%

AMETEK,

Inc.

663

136,121

Amphenol

Corp.,

Class

A

1,738

234,873

Emerson

Electric

Co.

1,049

139,223

Illinois

Tool

Works,

Inc.

865

213,050

Parker-Hannifin

Corp.

156,455

Republic

Services,

Inc.

541

114,654

Vertiv

Holdings

Co.,

Class

A

618

100,122

W.W.

Grainger,

Inc.

131,177

Waste

Management,

Inc.

537

117,984

1,343,659

Materials

—

2.82%

Air

Products

&

Chemicals,

Inc.

721

178,101

Sherwin-Williams

Co.

(The)

136,417

314,518

Real

Estate

—

1.09%

Equinix,

Inc.

121,819

Technology

—

29.30%

Apple,

Inc.

2,388

649,202

Broadcom,

Inc.

1,027

355,445

Cadence

Design

Systems,

Inc.

(a) 331

103,464

Lam

Research

Corp.

941

161,080

Microsoft

Corp.

1,391

672,715

Monolithic

Power

Systems,

Inc.

103,325

Motorola

Solutions,

Inc.

115,762

Nvidia

Corp.

3,623

675,690

Oracle

Corp.

504

98,235

Palantir

Technologies,

Inc.,

Class

A

(a) 598

106,295

Palo

Alto

Networks,

Inc.

(a) 582

107,204

ServiceNow,

Inc.

(a) 753

115,352

3,263,769

Utilities

—

2.31%

Vistra

Corp.

680

109,705

Sterling

Capital

Hedged

Equity

Premium

Income

ETF

Schedule

of

Investments

(continued)

December

31,

2025

-

(Unaudited)

COMMON

STOCKS

—

97.04%

-

continued

Shares

Fair

Value

Utilities

—

2.31%

-

continued

WEC

Energy

Group,

Inc.

1,405

$

148,171

257,876

Total

Common

Stocks

(Cost $10,890,246)

10,811,377

Description

Number

of

Contracts

Notional

Amount

Exercise

Price

Expiration

Date

Fair

Value

PURCHASED

OPTIONS

—

2.00%

PURCHASED

PUT

OPTIONS

—

2.00%

SPDR

S&P

500

ETF

Trust

$

2,727,680

$

620.00 March

2026

$

17,720

SPDR

S&P

500

ETF

Trust

2,727,680

620.00 June

2026

44,360

SPDR

S&P

500

ETF

Trust

2,727,680

620.00 September

2026

69,040

SPDR

S&P

500

ETF

Trust

2,727,680

620.00 December

2026

91,200

Total

Purchased

Put

Options

(Cost

$238,001)

222,320

Total

Purchased

Options

(Cost

$238,001)

222,320

Total

Investments

—

99.04%

(Cost

$11,128,247)

11,033,697

Other

Assets

in

Excess

of

Liabilities — 0.96%

107,119

NET

ASSETS

—

100.00%

$

11,140,816

(a) Non-income

producing

security.

Sterling

Capital

Hedged

Equity

Premium

Income

ETF

Schedule

of

Open

Written

Options

Contracts

December

31,

2025

-

(Unaudited)

Description

Number

of

Contracts

Notional

Amount

Exercise

Price

Expiration

Date

Fair

Value

WRITTEN

OPTIONS

(0.56)%

WRITTEN

CALL

OPTIONS

(0.04)%

AbbVie,

Inc.

(4) $

(91,396)

$

240.00 January

2026

$

(280) Aflac,

Inc.

(8) (88,216)

115.00 January

2026

(160) Air

Products

and

Chemicals,

Inc.

(5) (123,510)

270.00 January

2026

(185) Alphabet,

Inc.

(14) (438,200)

350.00 January

2026

(196) Amazon.com,

Inc.

(15) (346,230)

260.00 January

2026

(135) AMETEK,

Inc.

(4) (82,124)

220.00 January

2026

(90) Amgen,

Inc.

(2) (65,462)

345.00 January

2026

(238) Amphenol

Corporation

(7) (94,598)

155.00 January

2026

(70) Apple,

Inc.

(16) (434,976)

300.00 January

2026

(80) Boston

Scientific

Corporation

(8) (76,280)

105.00 January

2026

(72) Broadcom,

Inc.

(7) (242,270)

480.00 January

2026

(14) Cadence

Design

Systems,

Inc.

(2) (62,516)

375.00 January

2026

(220) Chubb

Ltd.

(2) (62,424)

325.00 January

2026

(74) Costco

Wholesale

Corporation

(1) (86,234)

975.00 January

2026

(13) Darden

Restaurants,

Inc.

(4) (73,608)

210.00 January

2026

(4) Eli

Lilly

&

Company

(1) (107,468)

1,160.00

January

2026

(330) Emerson

Electric

Company

(7) (92,904)

150.00 January

2026

(35) Equinix,

Inc.

(1) (76,616)

820.00 January

2026

(148) Hartford

Insurance

Group,

Inc.

(The)

(9) (124,020)

145.00 January

2026

(117) Home

Depot,

Inc.

(The)

(3) (103,230)

395.00 January

2026

(59) Illinois

Tool

Works,

Inc.

(6) (147,780)

270.00 January

2026

(105) Insulet

Corporation

(3) (85,272)

340.00 January

2026

(720) Intuitive

Surgical,

Inc.

(1) (56,636)

615.00 January

2026

(395) Johnson

&

Johnson

(5) (103,475)

230.00 January

2026

(15) JPMorgan

Chase

&

Company

(8) (257,776)

340.00 January

2026

(1,064)

Lam

Research

Corporation

(6) (102,708)

195.00 January

2026

(372) Mastercard,

Inc.

(4) (228,352)

595.00 January

2026

(452) McDonald's

Corporation

(2) (61,126)

330.00 January

2026

(14) Meta

Platforms,

Inc.

(4) (264,036)

715.00 January

2026

(344) Microsoft

Corporation

(9) (435,258)

525.00 January

2026

(117) Monolithic

Power

Systems,

Inc.

(1) (90,636)

1,160.00

January

2026

(100) Moody's

Corporation

(3) (153,255)

520.00 January

2026

(1,545)

Motorola

Solutions,

Inc.

(2) (76,664)

410.00 January

2026

(90) Netflix,

Inc.

(11) (103,136)

112.00 January

2026

(33) NVIDIA

Corporation

(25) (466,250)

210.00 January

2026

(650) Oracle

Corporation

(3) (58,473)

250.00 January

2026

(30) Palantir

Technologies,

Inc.

(4) (71,100)

230.00 January

2026

(28) Palo

Alto

Networks,

Inc.

(4) (73,680)

220.00 January

2026

(12) Parker-Hannifin

Corporation

(1) (87,896)

950.00 January

2026

(240) Procter

&

Gamble

Company

(The)

(5) (71,655)

155.00 January

2026

(35) Republic

Services,

Inc.

(4) (84,772)

220.00 January

2026

(340) ServiceNow,

Inc.

(5) (76,595)

194.00 January

2026

(75) Sherwin-Williams

Company

(The)

(3) (97,209)

350.00 January

2026

(75) Sterling

Capital

Hedged

Equity

Premium

Income

ETF

Schedule

of

Open

Written

Options

Contracts

(continued)

December

31,

2025

-

(Unaudited)

Description

Number

of

Contracts

Notional

Amount

Exercise

Price

Expiration

Date

Fair

Value

WRITTEN

OPTIONS

(0.56)%

(continued)

WRITTEN

CALL

OPTIONS

(0.04)%

(continued)

TJX

Companies,

Inc.

(The)

(5) $

(76,805)

$

165.00 January

2026

$

(45) Vertiv

Holdings

Company

(4) (64,804)

210.00 January

2026

(20) Visa,

Inc.

(7) (245,497)

365.00 January

2026

(322) Vistra

Corporation

(5) (80,665)

205.00 January

2026

(45) Walmart,

Inc.

(7) (77,987)

125.00 January

2026

(28) Waste

Management,

Inc.

(4) (87,884)

230.00 January

2026

(148) WEC

Energy

Group,

Inc.

(9) (94,914)

115.00 January

2026

(23) Williams

Companies,

Inc.

(The)

(12) (72,132)

65.00 January

2026

(72) WW

Grainger,

Inc.

(1) (100,905)

1,080.00

January

2026

(100) Total

Written

Call

Options

(Premiums

Received

$39,286)

(10,174)

WRITTEN

PUT

OPTIONS

(0.52)%

SPDR

S&P

500

ETF

Trust

(40) $(2,717,680)

480.00 March

2026

(2,520)

SPDR

S&P

500

ETF

Trust

(40) (2,717,680)

480.00 June

2026

(10,000)

SPDR

S&P

500

ETF

Trust

(40) (2,717,680)

480.00 September

2026

(17,840)

SPDR

S&P

500

ETF

Trust

(40) (2,717,680)

480.00 December

2026

(26,000)

Total

Written

Put

Options

(Premiums

Received

$64,506)

(56,360)

Total

Written

Options

(Premiums

Received

$103,792)

$(66,534)

## 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:** 434 Fayetteville St

  - **City:** Raleigh

  - **State:** NC

  - **Foreign country:** US

  - **Zip / Postal Code:** 27601

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

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

- **a. Name of Series:** STERLING CAPITAL NATIONAL MUNICIPAL BOND ETF

- **b. EDGAR series identifier (if any):** S000097704

- **c. LEI of Series:** 529900EG2C3KF9O6IS57

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

- **a. Date of fiscal year-end:** 2026-09-30

- **b. Date as of which information is reported:** 2025-12-31

**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:** $10003080.58

**Total Liabilities:** $24850.29

**Net Assets:** $9978230.29

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 2.14961858 | **1-Year:** 369.43619767 | **5-Year:** 3135.32776704 | **10-Year:** 3662.83609559 | **30-Year:** 0.00000000

**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 C000267178 |  |  |  |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $0.00                                      |
| Month 2  | $0.00                    | $0.00                                      |
| Month 3  | $-2318.43                | $-13829.40                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ATLANTA GA                                                         | City of Atlanta GA Airport Passenger Facility Charge                            | CUSIP: 04780TEY6<br>LEI: 549300GHLQ0J51NUBM84 | Long             | DBT              | MUN               | US        |    140000 | PA      | $149035.33    | 1.49%             | 2043-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| AUSTIN TEX INDPT SCH DIST                                          | Austin Independent School District 5%, Due 08/01/2036                           | CUSIP: 052430VV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $201217.43    | 2.02%             | 2036-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BALTIMORE CNTY MD                                                  | County of Baltimore MD 5%, Due 03/01/2029                                       | CUSIP: 059134EX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    115000 | PA      | $123590.14    | 1.24%             | 2029-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST ALA                                     | Black Belt Energy Gas District Floating Rate, Due 06/01/2049                    | CUSIP: 09182TCR6<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    275000 | PA      | $290133.64    | 2.91%             | 2049-06-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| BROWARD CNTY FLA SCH BRD                                           | School District of Broward County/FL 5%, Due 07/01/2029                         | CUSIP: 115065B86<br>LEI: 5493006KVNQDJ1D0OD92 | Long             | DBT              | MUN               | US        |    100000 | PA      | $107585.11    | 1.08%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING AUTH                                  | California Community Choice Financing Authority Floating Rate, Due 01/01/2056   | CUSIP: 13013JFW1<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    265000 | PA      | $289993.69    | 2.91%             | 2056-01-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRAL VY ENERGY AUTH CALIF                                       | Central Valley Energy Authority Floating Rate, Due 12/01/2055                   | CUSIP: 15569DAA0<br>LEI: 254900G5IPQ9MA3FRJ55 | Long             | DBT              | MUN               | US        |    270000 | PA      | $294109.52    | 2.95%             | 2055-12-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CHARLOTTE N C                                                      | City of Charlotte NC Airport Revenue 5.25%, Due 07/01/2053                      | CUSIP: 161036VP0<br>LEI: 5493001QNY6JJFWHQ568 | Long             | DBT              | MUN               | US        |    115000 | PA      | $121431.40    | 1.22%             | 2053-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL O HARE INTL ARPT                                       | Chicago O'Hare International Airport 5.5%, Due 01/01/2059                       | CUSIP: 1675934T6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $103547.33    | 1.04%             | 2059-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CHICAGO ILL                                                        | City of Chicago IL Wastewater Transmission Revenue 5%, Due 01/01/2040           | CUSIP: 167727J49<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    150000 | PA      | $164299.86    | 1.65%             | 2040-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACS AUTH                                          | Colorado Health Facilities Authority 5%, Due 08/01/2036                         | CUSIP: 19648FJW5<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    115000 | PA      | $120831.47    | 1.21%             | 2036-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HEALTH FACS AUTH                                          | Colorado Health Facilities Authority 5%, Due 05/15/2037                         | CUSIP: 19648FYD0<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |     80000 | PA      | $88064.66     | 0.88%             | 2037-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST                                                     | State of Connecticut Special Tax Revenue 5%, Due 09/01/2026                     | CUSIP: 207758VN0<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |     70000 | PA      | $71153.64     | 0.71%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DALLAS-FORT WORTH TEX INTL ARPT                                    | Dallas Fort Worth International Airport 5%, Due 11/01/2034                      | CUSIP: 23503CFV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $112003.74    | 1.12%             | 2034-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DALLAS TEX AREA RAPID TRAN                                         | Dallas Area Rapid Transit 5%, Due 12/01/2031                                    | CUSIP: 235241TE6<br>LEI: 75YWM81F2R6UQGJIEW47 | Long             | DBT              | MUN               | US        |    135000 | PA      | $146641.55    | 1.47%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENVER COLO CITY & CNTY                                            | City & County of Denver CO Airport System Revenue 5%, Due 11/15/2053            | CUSIP: 249182TN6<br>LEI: MMTY7HA2MSCBUO4F7J71 | Long             | DBT              | MUN               | US        |    100000 | PA      | $101285.98    | 1.02%             | 2053-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federated Hermes Money Market Obligations Trust                    | FEDERATED HERMES TREASURY OBLIGATIONS FUND                                      | CUSIP: 31423R500<br>LEI: 25490005VWJDWX717014 | Long             | STIV             | RF                | US        |     21071 | PA      | $21071.38     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| GREATER ORLANDO AVIATION AUTH ORLANDO FLA                          | Greater Orlando Aviation Authority 5.25%, Due 10/01/2049                        | CUSIP: 392275EN9<br>LEI: 549300CP6PUG5S184F61 | Long             | DBT              | MUN               | US        |    220000 | PA      | $228992.02    | 2.29%             | 2049-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HILLSBOROUGH CNTY FLA AVIATION AUTH                                | Hillsborough County Aviation Authority 5.5%, Due 10/01/2054                     | CUSIP: 432308X25<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     95000 | PA      | $100133.45    | 1.00%             | 2054-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HOUSTON TEX                                                        | City of Houston TX 5%, Due 03/01/2034                                           | CUSIP: 442332CX8<br>LEI: 549300C64URYS0WQQY42 | Long             | DBT              | MUN               | US        |    100000 | PA      | $113504.31    | 1.14%             | 2034-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON TEX                                                        | City of Houston TX Airport System Revenue 5.5%, Due 07/01/2050                  | CUSIP: 442349JU1<br>LEI: 549300C64URYS0WQQY42 | Long             | DBT              | MUN               | US        |    150000 | PA      | $158562.68    | 1.59%             | 2050-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ILLINOIS FIN AUTH                                                  | Illinois Finance Authority 5%, Due 05/15/2037                                   | CUSIP: 45204FUQ6<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    165000 | PA      | $183276.36    | 1.84%             | 2037-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                        | State of Illinois 5%, Due 03/01/2032                                            | CUSIP: 452153CT4<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    100000 | PA      | $111070.70    | 1.11%             | 2032-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                                        | State of Illinois 5.25%, Due 05/01/2045                                         | CUSIP: 452153KC2<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    100000 | PA      | $104433.99    | 1.05%             | 2045-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST TOLL HWY AUTH                                          | Illinois State Toll Highway Authority 5%, Due 01/01/2026                        | CUSIP: 452252PC7<br>LEI: 549300ISBFGI8MJJKM98 | Long             | DBT              | MUN               | US        |    180000 | PA      | $180000.00    | 1.80%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CNTY ALA                                                 | County of Jefferson AL Sewer Revenue 5%, Due 10/01/2038                         | CUSIP: 472682ZH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    115000 | PA      | $125770.20    | 1.26%             | 2038-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KANSAS ST DEPT TRANSN                                              | State of Kansas Department of Transportation 5%, Due 09/01/2027                 | CUSIP: 485424RE7<br>LEI: 5493001635XK841MIO47 | Long             | DBT              | MUN               | US        |     70000 | PA      | $72885.98     | 0.73%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAMAR TEX CONS INDPT SCH DIST                                      | Lamar Consolidated Independent School District 5%, Due 02/15/2041               | CUSIP: 513174L59<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    185000 | PA      | $200549.42    | 2.01%             | 2041-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CALIF DEPT ARPTS                                       | City of Los Angeles Department of Airports 5.25%, Due 05/15/2050                | CUSIP: 5444453B3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $156344.00    | 1.57%             | 2050-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CALIF DEPT WTR & PWR                                   | Los Angeles Department of Water & Power 5%, Due 07/01/2049                      | CUSIP: 544532AR5<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |    200000 | PA      | $201758.24    | 2.02%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CALIF UNI SCH DIST                                     | Los Angeles Unified School District/CA 5%, Due 07/01/2045                       | CUSIP: 544647JK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     90000 | PA      | $97919.89     | 0.98%             | 2045-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAIN STR NAT GAS INC GA                                            | Main Street Natural Gas, Inc. Floating Rate, Due 09/01/2052                     | CUSIP: 56035DDX7<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    290000 | PA      | $296992.34    | 2.98%             | 2052-09-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST HEALTH & HIGHER EDL FACS AUTH                          | Maryland Health & Higher Educational Facilities Authority                       | CUSIP: 57421CLS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $211065.36    | 2.12%             | 2055-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS EDL FING AUTH                                        | Massachusetts Educational Financing Authority 5%, Due 07/01/2033                | CUSIP: 57563RTT6<br>LEI: 5493007K5OP7V6CL0Y88 | Long             | DBT              | MUN               | US        |    100000 | PA      | $108174.42    | 1.08%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY                                       | Massachusetts Development Finance Agency 5.25%, Due 07/01/2050                  | CUSIP: 57585BEX2<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    110000 | PA      | $113246.71    | 1.13%             | 2050-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN TRANSN AUTH N Y                                       | Metropolitan Transportation Authority 5.25%, Due 11/15/2055                     | CUSIP: 59261A5G8<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    100000 | PA      | $104523.26    | 1.05%             | 2055-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| METROPOLITAN WASH D C ARPTS AUTH                                   | Metropolitan Washington Airports Authority Aviation Revenue                     | CUSIP: 592647PD7<br>LEI: 7HERAVJJLN8J1DZ6AZ19 | Long             | DBT              | MUN               | US        |    100000 | PA      | $102424.85    | 1.03%             | 2050-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FLA                                                | County of Miami-Dade FL 4%, Due 07/01/2034                                      | CUSIP: 59333FXG0<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |    150000 | PA      | $156454.41    | 1.57%             | 2034-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MIAMI-DADE CNTY FLA                                                | County of Miami-Dade FL Aviation Revenue 5.25%, Due 10/01/2055                  | CUSIP: 593340AD4<br>LEI: 549300QG0NBD9HULR263 | Long             | DBT              | MUN               | US        |    100000 | PA      | $104944.20    | 1.05%             | 2055-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NASH HEALTH CARE SYS NORTH CAROLINA                                | Nash Health Care Systems 5.75%, Due 02/01/2050                                  | CUSIP: 631163BP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    135000 | PA      | $145194.94    | 1.46%             | 2050-02-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ECONOMIC DEV AUTH                                       | New Jersey Economic Development Authority 5%, Due 11/01/2027                    | CUSIP: 64577BC85<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |     95000 | PA      | $99159.39     | 0.99%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y                                                       | City of New York NY 5%, Due 08/01/2038                                          | CUSIP: 64966Q6D7<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    100000 | PA      | $110302.88    | 1.11%             | 2038-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y                                                       | City of New York NY 5%, Due 03/01/2042                                          | CUSIP: 64966SAS5<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    135000 | PA      | $144762.38    | 1.45%             | 2042-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY MUN WTR FIN AUTH                                 | New York City Municipal Water Finance Authority 5%, Due 06/15/2031              | CUSIP: 64972GPP3<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |    115000 | PA      | $119099.26    | 1.19%             | 2031-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY MUN WTR FIN AUTH                                 | New York City Municipal Water Finance Authority 5%, Due 06/15/2052              | CUSIP: 64972GZS6<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |    100000 | PA      | $103260.10    | 1.03%             | 2052-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY TRANSITIONAL FIN AUTH                            | New York City Transitional Finance Authority Future Tax Secured Revenue         | CUSIP: 64972JJR0<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |     90000 | PA      | $104754.02    | 1.05%             | 2034-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK N Y CITY TRANSITIONAL FIN AUTH                            | New York City Transitional Finance Authority Future Tax Secured Revenue         | CUSIP: 64972JPX0<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |    140000 | PA      | $155537.63    | 1.56%             | 2030-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA TPK AUTH                                            | North Carolina Turnpike Authority 5%, Due 01/01/2058                            | CUSIP: 65830RDA4<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |    145000 | PA      | $148082.90    | 1.48%             | 2058-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTHAMPTON CNTY PA GEN PURP AUTH                                  | Northampton County General Purpose Authority 5%, Due 08/15/2034                 | CUSIP: 66353RDH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $112586.58    | 1.13%             | 2034-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST                                                            | State of Ohio 5%, Due 05/01/2037                                                | CUSIP: 677523DC3<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |    180000 | PA      | $200830.14    | 2.01%             | 2037-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST HOSP FAC REV ACTING BY AND THROUGH THE OHIO DEV FING COMMN | State of Ohio 5%, Due 01/01/2028                                                | CUSIP: 677561LV2<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |    100000 | PA      | $104626.76    | 1.05%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OMAHA PUB PWR DIST NEB                                             | Omaha Public Power District 5%, Due 02/01/2033                                  | CUSIP: 682001GT3<br>LEI: 54930000VJEJ9CGIYG32 | Long             | DBT              | MUN               | US        |    100000 | PA      | $106788.40    | 1.07%             | 2033-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ECONOMIC DEV FING AUTH                                | Pennsylvania Economic Development Financing Authority                           | CUSIP: 70870JEW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    115000 | PA      | $122989.23    | 1.23%             | 2029-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TPK COMMN                                          | Pennsylvania Turnpike Commission 5.25%, Due 12/01/2055                          | CUSIP: 709225NY8<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |    100000 | PA      | $106734.96    | 1.07%             | 2055-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA                                                    | City of Philadelphia PA 5%, Due 05/01/2036                                      | CUSIP: 717813YX1<br>LEI: 549300IVFOPB4AG7UL47 | Long             | DBT              | MUN               | US        |    175000 | PA      | $192189.01    | 1.93%             | 2036-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PITTSBURGH PA WTR & SWR AUTH                                       | Pittsburgh Water & Sewer Authority 5%, Due 09/01/2034                           | CUSIP: 725304VX4<br>LEI: 54930034DVH6W22T1E86 | Long             | DBT              | MUN               | US        |    100000 | PA      | $109477.29    | 1.10%             | 2034-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTH N Y & N J                                                | Port Authority of New York & New Jersey 5%, Due 07/15/2029                      | CUSIP: 73358W5E0<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |    100000 | PA      | $106767.96    | 1.07%             | 2029-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORTLAND ORE                                                       | City of Portland OR Sewer System Revenue 5%, Due 03/01/2033                     | CUSIP: 736742ZY6<br>LEI: 254900RPNQMJF9NBMF52 | Long             | DBT              | MUN               | US        |    100000 | PA      | $108124.99    | 1.08%             | 2033-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA JOBS-ECONOMIC DEV AUTH                              | South Carolina Jobs-Economic Development Authority 5.25%, Due 11/01/2044        | CUSIP: 837032BX8<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |    185000 | PA      | $197644.86    | 1.98%             | 2044-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA TRANSN INFRASTRUCTURE BK                            | South Carolina Transportation Infrastructure Bank 5%, Due 10/01/2027            | CUSIP: 837152VJ3<br>LEI: 549300YI1NMCP4VLJN43 | Long             | DBT              | MUN               | US        |    110000 | PA      | $114688.66    | 1.15%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTH ALA                                          | Southeast Energy Authority A Cooperative District Floating Rate, Due 12/01/2051 | CUSIP: 84136FAV9<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |    150000 | PA      | $151516.58    | 1.52%             | 2051-12-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTH COOP DIST ALA                                | Southeast Energy Authority A Cooperative District Floating Rate, Due 01/01/2056 | CUSIP: 84136HBC6<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |    200000 | PA      | $208385.06    | 2.09%             | 2056-01-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTH COOP DIST ALA                                | Southeast Energy Authority A Cooperative District 5%, Due 10/01/2030            | CUSIP: 84136HCT8<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |    250000 | PA      | $268586.20    | 2.69%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SPRING TEX INDPT SCH DIST                                          | Spring Independent School District 5.25%, Due 08/15/2055                        | CUSIP: 850001CN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    120000 | PA      | $127843.97    | 1.28%             | 2055-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TEXAS MUN GAS ACQUISITION & SUPPLY CORP IV                         | Texas Municipal Gas Acquisition & Supply Corporation IV                         | CUSIP: 88256PAQ3<br>LEI: 549300PTUE847QDBBW22 | Long             | DBT              | MUN               | US        |    175000 | PA      | $194572.96    | 1.95%             | 2032-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TEXAS PUB FIN AUTH                                                 | Texas Public Finance Authority 5%, Due 02/01/2039                               | CUSIP: 882669DW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $110218.31    | 1.10%             | 2039-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY CALIF                                                   | University of California 5%, Due 05/15/2043                                     | CUSIP: 91412HPT4<br>LEI: RRR42I7GG51DB5HDQR14 | Long             | DBT              | MUN               | US        |    175000 | PA      | $189476.63    | 1.90%             | 2043-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON D C MET AREA TRAN AUTH                                  | Washington Metropolitan Area Transit Authority Dedicated Revenue                | CUSIP: 93878YDJ5<br>LEI: 549300ADKOK76HQMJS30 | Long             | DBT              | MUN               | US        |     50000 | PA      | $55530.48     | 0.56%             | 2038-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST                                                      | State of Washington 5%, Due 02/01/2038                                          | CUSIP: 93974EVF0<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |     95000 | PA      | $104534.69    | 1.05%             | 2038-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-31

**Name of Applicant:** Sterling Capital Funds

**Signature:** Todd Miller

**Name of Signer:** Todd Miller

**Title:** Treasurer