# EDGAR Filing Document

**Accession Number:** 0000889284
**File Stem:** 0001752724-25-208376
**Filing Date:** 2025-8
**Character Count:** 241761
**Document Hash:** 8852a94d09ac85b0be67b579974789c7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-208376.hdr.sgml**: 20250827

**ACCESSION NUMBER**: 0001752724-25-208376

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250827

**DATE AS OF CHANGE**: 20250827

**PERIOD START**: 20250930

**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:** 251262561

**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 INTERMEDIATE US GOVERNMENT FUND (Series ID: S000003557)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000009890 | INSTITUTIONAL CLASS | BBGVX           |
| C000009891 | A CLASS             | BGVAX           |
| C000009893 | C CLASS             | BIUCX           |

## Nport-Ex

Sterling

Capital

Behavioral

Large

Cap

Value

Equity

Fund

Schedule

of

Investments

June

30,

2025

-

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

99.53%

Automobiles

—

1.40%

12,230

General

Motors

Co.

$

601,838

Banks

—

8.15%

1,410

Citigroup,

Inc.

120,019

6,406

JPMorgan

Chase

&

Co.

1,857,164

2,514

PNC

Financial

Services

Group,

Inc.

468,660

7,687

U.S.

Bancorp

347,837

9,000

Wells

Fargo

&

Co.

721,080

3,514,760

Biotechnology

—

4.33%

2,931

AbbVie,

Inc.

544,052

2,160

Amgen,

Inc.

603,094

6,492

Gilead

Sciences,

Inc.

719,768

1,866,914

Broadline

Retail

—

1.26%

Dillard's,

Inc.,

Class

A

196,380

2,413

eBay,

Inc.

179,672

3,340

Etsy,

Inc.

167,534

543,586

Building

Products

—

3.14%

6,010

Hayward

Holdings,

Inc.

(a) 82,938

6,512

Johnson

Controls

International

PLC

687,797

1,330

Trane

Technologies

PLC

581,755

1,352,490

Capital

Markets

—

7.99%

7,520

Bank

of

New

York

Mellon

Corp.

(The)

685,147

2,530

CME

Group,

Inc.

697,319

8,390

Franklin

Resources,

Inc.

200,102

Goldman

Sachs

Group,

Inc.

(The)

305,748

6,199

Morgan

Stanley

873,191

1,950

Northern

Trust

Corp.

247,241

1,859

State

Street

Corp.

197,686

5,274

Virtu

Financial,

Inc.,

Class

A

236,222

3,442,656

Chemicals

—

0.77%

2,150

CF

Industries

Holdings,

Inc.

197,800

3,680

Mosaic

Co.

(The)

134,246

332,046

Communications

Equipment

—

2.40%

14,897

Cisco

Systems,

Inc.

1,033,554

Construction

&

Engineering

—

1.07%

EMCOR

Group,

Inc.

209,142

1,470

MasTec

,

Inc.

(a) 250,532

459,674

Sterling

Capital

Behavioral

Large

Cap

Value

Equity

Fund

Schedule

of

Investments

(continued)

June

30,

2025

-

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

(continued)

Consumer

Finance

—

2.29%

3,594

Capital

One

Financial

Corp.

$

764,660

3,337

Synchrony

Financial

222,711

987,371

Consumer

Staples

Distribution

&

Retail

—

2.34%

8,836

Kroger

Co.

(The)

633,806

3,812

Maplebear

Inc.

(a) 172,455

2,601

US

Foods

Holding

Corp.

(a) 200,303

1,006,564

Containers

&

Packaging

—

0.90%

1,974

Crown

Holdings,

Inc.

203,283

3,374

Siligan

Holdings,

Inc.

182,803

386,086

Distributors

—

0.31%

3,620

LKQ

Corp.

133,976

Diversified

Consumer

Services

—

0.56%

23,113

ADT,

Inc.

195,767

867

H&R

Block,

Inc.

47,590

243,357

Diversified

Telecommunication

Services

—

2.80%

30,782

AT&T,

Inc.

890,831

7,408

Verizon

Communications,

Inc.

320,544

1,211,375

Electric

Utilities

—

3.40%

5,250

Duke

Energy

Corp.

619,500

10,404

Exelon

Corp.

451,742

4,280

Southern

Co.

(The)

393,032

1,464,274

Electrical

Equipment

—

3.04%

5,180

Emerson

Electric

Co.

690,649

1,170

GE

Vernova

LLC

619,106

1,309,755

Energy

Equipment

&

Services

—

0.56%

6,977

TechnipFMC

PLC

240,288

Entertainment

—

2.07%

7,180

Walt

Disney

Co.

(The)

890,392

Financial

Services

—

0.54%

8,407

MGIC

Investment

Corp.

234,051

Food

Products

—

0.60%

805

Ingredion,

Inc.

109,174

3,332

Pilgrim's

Pride

Corp.

(a) 149,873

259,047

Ground

Transportation

—

1.23%

5,670

Uber

Technologies,

Inc.

(a) 529,011

Sterling

Capital

Behavioral

Large

Cap

Value

Equity

Fund

Schedule

of

Investments

(continued)

June

30,

2025

-

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

(continued)

Health

Care

Providers

&

Services

—

6.97%

1,822

Cencora

,

Inc.

$

546,327

2,072

Cigna

Group

(The)

684,961

10,660

CVS

Health

Corp.

735,326

1,207

HCA

Healthcare,

Inc.

462,402

783

McKesson

Corp.

573,767

3,002,783

Health

Care

REITs

—

0.35%

4,167

Omega

Healthcare

Investors,

Inc.

152,721

Hotels,

Restaurants

&

Leisure

—

2.47%

1,066

Expedia,

Inc.

(a) 179,813

2,171

Royal

Caribbean

Cruises

Ltd.

679,828

3,927

Travel

+

Leisure

Co.

202,672

1,062,313

Household

Products

—

0.95%

1,520

Colgate-Palmolive

Co.

138,168

2,105

Kimberly-Clark

Corp.

271,377

409,545

Insurance

—

4.48%

3,430

Aflac,

Inc.

361,728

2,922

Allstate

Corp.

588,228

1,316

Axis

Capital

Holdings

Ltd.

136,627

1,023

Hanover

Insurance

Group,

Inc.

(The)

(a) 173,777

1,201

Old

Republic

International

Corp.

46,166

2,330

Travelers

Cos.,

Inc.

(Inc)

(The)

623,368

1,929,894

It

Services

—

2.42%

3,540

International

Business

Machines

Corp.

1,043,521

Machinery

—

1.37%

1,870

Allison

Transmission

Holdings,

Inc.

177,631

9,119

Gates

Industrial

Corp.

PLC

(a) 210,011

Parker-Hannifin

Corp.

202,556

590,198

Media

—

2.64%

1,524

Charter

Communications,

Inc.,

Class

A

(a) 623,026

2,870

Comcast

Corp.,

Class

A

102,430

3,521

Fox

Corporation,

Class

A

197,317

4,136

Fox

Corporation,

Class

B

213,542

1,136,315

Metals

&

Mining

—

1.54%

11,400

Newmont

Goldcorp

Corp.

664,164

Mortgage

Real

Estate

Investment

Trusts

(REITs)

—

0.37%

13,969

Rithm

Capital

Corp.

157,710

Sterling

Capital

Behavioral

Large

Cap

Value

Equity

Fund

Schedule

of

Investments

(continued)

June

30,

2025

-

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

(continued)

Office

REITs

—

0.43%

6,110

Cousins

Properties,

Inc.

$

183,483

Oil,

Gas

&

Consumable

Fuels

—

5.89%

2,548

Cheniere

Energy,

Inc.

620,489

22,130

Kinder

Morgan,

Inc.

650,622

7,140

ONEOK,

Inc.

582,838

10,935

Williams

Companies,

Inc.

(The)

686,827

2,540,776

Passenger

Airlines

—

0.43%

2,350

United

Continental

Holdings,

Inc.

(a) 187,131

Pharmaceuticals

—

1.73%

13,770

Bristol-Myers

Squibb

Co.

637,413

3,050

Royalty

Pharma

PLC,

Class

A

109,892

747,305

Professional

Services

—

0.22%

1,810

Concentrix

Corp.

95,668

Retail

REITs

—

2.65%

9,671

Realty

Income

Corp.

557,146

3,616

Simon

Property

Group,

Inc.

581,309

1,138,455

Semiconductors

&

Semiconductor

Equipment

—

2.40%

Broadcom,

Inc.

115,773

1,734

Cirrus

Logic,

Inc.

(a) 180,778

4,645

QUALCOMM,

Inc.

739,763

1,036,314

Software

—

2.53%

6,622

Gen

Digital,

Inc.

194,687

3,280

salesforce.com,

Inc.

894,423

1,089,110

Specialized

REITs

—

0.85%

3,290

EPR

Properties

191,675

5,405

VICI

Properties,

Inc.

176,203

367,878

Specialty

Retail

—

1.47%

8,586

Gap,

Inc.

(The)

187,261

Lowe's

Cos.,

Inc.

59,905

1,130

Penske

Automotive

Group,

Inc.

(a) 194,145

Ulta

Beauty,

Inc.

(a) 191,806

633,117

Technology

Hardware,

Storage

&

Peripherals

—

1.32%

4,630

Dell

Technologies,

Inc.,

Class

C

567,638

Textiles,

Apparel

&

Luxury

Goods

—

1.05%

783

Ralph

Lauren

Corp.

214,761

Sterling

Capital

Behavioral

Large

Cap

Value

Equity

Fund

Schedule

of

Investments

(continued)

June

30,

2025

-

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

(continued)

Textiles,

Apparel

&

Luxury

Goods

—

(continued)

2,715

Tapestry,

Inc.

$

238,404

453,165

Tobacco

—

3.85%

11,478

Altria

Group,

Inc.

672,955

5,428

Philip

Morris

International,

Inc.

988,602

1,661,557

Total

Common

Stocks

(Cost $34,870,643)

42,893,826

Shares

Fair

Value

MONEY

MARKET

FUNDS

—

0.44%

190,059

Federated

Hermes

Treasury

Obligations

Fund,

Institutional

Shares,

4.18%

(b) 190,059

Total

Money

Market

Funds

(Cost

$190,059)

190,059

Total

Investments—

99.97%

(Cost

$35,060,702)

43,083,885

Other

Assets

in

Excess

of

Liabilities

—

0.03%

14,811

NET

ASSETS

—

100.00%

$

43,098,696

(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

June

30,

2025

(Unaudited)

dl

Shares

Fair

Value

COMMON

STOCKS

—

98.64%

Automobile

Components

—

0.51%

28,190

Dana,

Inc.

$

483,459

Automotive

—

1.23%

70,290

American

Axle

&

Manufacturing

Holdings,

Inc.

(a) 286,783

4,230

Aptiv

Holdings

Ltd.

(a) 288,571

5,640

BorgWarner,

Inc.

188,827

9,220

Phinia,

Inc.

410,198

1,174,379

Banking

—

3.31%

14,910

Berkshire

Hills

Bancorp,

Inc.

373,346

7,950

Capital

City

Bank

Group,

Inc.

312,833

8,660

Enterprise

Financial

Services

Corp.

477,166

9,630

First

Mid-Illinois

Bancshares,

Inc.

361,029

5,500

Great

Southern

Bancorp,

Inc.

323,290

9,160

HomeTrust

Bancshares,

Inc.

(a) 342,676

4,730

Metropolitan

Bank

Holding

Corp.

(a) 331,100

22,210

Shore

Bancshares,

Inc.

349,141

8,920

Third

Coast

Bancshares

Inc.

(a) 291,416

3,161,997

Banks

—

13.63%

6,350

1st

Source

Corp.

394,145

11,400

Amalgamated

Financial

Corp.

355,680

24,040

Associated

Banc-Corp.

586,336

9,524

Axos

Financial,

Inc.

(a) 724,206

11,710

Bank

of

NT

Butterfield

&

Son

Ltd.

(The)

518,519

6,558

Bank

OZK

308,619

15,631

BankUnited,

Inc.

556,307

15,053

Business

First

Bancshares,

Inc.

371,056

13,640

Byline

Bancorp,

Inc.

(a) 364,597

8,050

Camden

National

Corp.

326,669

11,634

Cathay

General

Bancorp

529,696

14,720

Columbia

Banking

System,

Inc.

344,154

7,260

Community

Trust

Bancorp,

Inc.

384,199

7,520

Customers

Bancorp,

Inc.

(a) 441,725

3,740

East

West

Bancorp,

Inc.

377,665

6,052

First

Financial

Corp.

327,958

11,640

Hancock

Whitney

Corp.

668,137

14,560

Hanmi

Financial

Corp.

359,341

12,962

Independent

Bank

Corp.

Michigan

420,098

7,999

Mercantile

Bank

Corp.

371,234

5,862

Northeast

Bank

521,659

12,600

Northeast

Community

Bancorp,

Inc.

292,887

15,243

OFG

Bancorp

652,401

19,710

Old

Second

Bancorp,

Inc.

349,655

4,432

Preferred

Bank

383,567

Sterling

Capital

Behavioral

Small

Cap

Value

Equity

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

(continued)

Banks

—

(continued)

15,370

Renasant

Corp.

$

552,244

9,123

South

Plains

Financial,

Inc.

328,793

15,780

Univest

Financial

Corp.

474,031

3,189

Wintrust

Financial

Corp.

395,372

6,760

Zions

Bancorp.

351,114

13,032,064

Biotech

&

Pharma

—

0.45%

21,300

Innoviva,

Inc.

(a) 427,917

Broadline

Retail

—

0.30%

690

Dillard's,

Inc.,

Class

A

(a) 288,303

Cable

&

Satellite

—

0.25%

23,800

Liberty

Global

Ltd.,

Class

A

(a) 238,238

Capital

Markets

—

0.39%

2,920

Northern

Trust

Corp.

370,227

Chemicals

—

2.10%

3,380

Cabot

Corp.

253,500

3,850

CF

Industries

Holdings,

Inc.

354,200

49,300

Ecovyst,

Inc.

(a) 405,738

8,020

Mosaic

Co.

(The)

292,570

37,980

Perimeter

Solutions,

Inc.

(a) 528,681

46,050

Rayonier

Advanced

Materials,

Inc.

(a) 177,293

2,011,982

Commercial

Services

&

Supplies

—

1.90%

23,790

CoreCivic,

Inc.

(a) 501,255

27,578

Interface,

Inc.

577,208

38,110

Pitney

Bowes

Inc.

415,780

31,522

Steelcase,

Inc.,

Class

A

328,774

1,823,017

Commercial

Support

Services

—

0.81%

22,910

Healthcare

Services

Group,

Inc.

(a) 344,337

9,410

Heidrick

&

Struggles

International,

Inc.

430,602

774,939

Communications

Equipment

—

0.40%

13,070

NETGEAR,

Inc.

(a) 379,945

Construction

&

Engineering

—

2.42%

2,660

Argan,

Inc.

586,477

4,240

Granite

Construction,

Inc.

396,482

2,486

Sterling

Construction

Co.,

Inc.

(a) 573,595

16,100

Tutor

Perini

Corp.

(a) 753,157

2,309,711

Consumer

Finance

—

1.24%

11,428

Bread

Financial

Holdings,

Inc.

652,768

Sterling

Capital

Behavioral

Small

Cap

Value

Equity

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

(continued)

Consumer

Finance

—

(continued)

7,999

Synchrony

Financial

$

533,853

1,186,621

Consumer

Staples

Distribution

&

Retail

—

0.36%

14,570

United

Natural

Foods,

Inc.

(a) 339,627

Containers

&

Packaging

—

0.34%

75,680

Ardagh

Metal

Packaging

SA

(a) 323,910

Diversified

Consumer

Services

—

1.74%

42,070

ADT,

Inc.

(a) 356,333

630

Graham

Holdings

Co.,

Class

B

596,087

21,660

Perdoceo

Education

Corp.

708,065

1,660,485

Electric

Utilities

—

2.45%

22,300

AES

Corp.

234,596

5,740

Edison

International

296,184

4,650

Eversource

Energy

295,833

8,059

Otter

Tail

Corp.

621,267

3,310

Pinnacle

West

Capital

Corp.

296,146

14,747

Portland

General

Electric

Co.

599,171

2,343,197

Electrical

Equipment

—

0.34%

16,820

Kimball

Electronics,

Inc.

(a) 323,449

Electronic

Equipment,

Instruments

&

Components

—

2.62%

2,250

Arrow

Electronics,

Inc.

(a) 286,718

9,680

Benchmark

Electronics,

Inc.

375,874

5,370

Eplus,

Inc.

(a) 387,177

2,687

Jabil,

Inc.

586,034

3,650

Plexus

Corp.

(a) 493,882

9,030

ScanSource,

Inc.

(a) 377,544

2,507,229

Energy

Equipment

&

Services

—

0.30%

8,370

TechnipFMC

PLC

288,263

Engineering

&

Construction

—

0.40%

4,870

Primoris

Services

Corp.

379,568

Entertainment

—

0.49%

8,107

Marcus

Corp.

(The)

(a) 136,684

28,980

Warner

Bros

Discovery,

Inc.

(a) 332,111

468,795

Entertainment

Content

—

0.34%

83,370

fuboTV,

Inc.

(a) 321,808

Equity

Real

Estate

-Investment

Trusts

-(Reits)

—

1.13%

16,690

American

Assets

Trust,

Inc.

329,628

Sterling

Capital

Behavioral

Small

Cap

Value

Equity

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

(continued)

Equity

Real

Estate

-Investment

Trusts

-(Reits)

—

(continued)

23,446

Essential

Properties

Realty

Trust,

Inc.

$

748,161

1,077,789

Financial

Services

—

3.51%

12,440

Banco

Latinoamericano

de

Comercio

Exterior

SA,

Class

E

501,332

11,774

Enact

Holdings,

Inc.

437,404

12,100

Jackson

Financial

Corp.,

Class

A

1,074,359

12,857

MGIC

Investment

Corp.

357,939

34,350

Pagseguro

Digital

Ltd.,

Class

A

(a) 331,134

18,188

Radian

Group,

Inc.

655,132

3,357,300

Food

Products

—

1.54%

5,600

Cal-Maine

Foods,

Inc.

557,928

21,975

Dole

PLC

(a) 307,430

2,380

Ingredion,

Inc.

322,776

6,440

Pilgrim's

Pride

Corp.

289,671

1,477,805

Gas

Utilities

—

2.20%

18,370

MDU

Resources

Group,

Inc.

(a) 306,228

5,055

National

Fuel

Gas

Co.

(a) 428,209

5,710

New

Jersey

Resources

Corp.

255,922

2,030

Northwest

Natural

Holdings

Co.

80,632

8,520

ONE

Gas,

Inc.

(a) 612,246

1,550

Spire,

Inc.

(a) 113,135

8,430

UGI

Corp.

307,021

2,103,393

Health

Care

Equipment

&

Supplies

—

1.06%

7,170

Inmode

Ltd.

(a) 103,535

4,452

Lantheus

Holdings,

Inc.

(a) 364,440

10,780

Omnicell,

Inc.

(a) 316,932

22,120

Tactile

Systems

Technology,

Inc.

(a) 224,297

1,009,204

Health

Care

Facilities

&

Services

—

0.83%

34,750

Pediatrix

Medical

Group,

Inc.

(a) 498,663

13,410

Progyny,

Inc.

(a) 295,020

793,683

Health

Care

Providers

&

Services

—

2.94%

40,140

AdaptHealth

Corp.

(a) 378,520

2,448

DaVita,

Inc.

(a) 348,718

4,430

Encompass

Health

Corp.

543,250

20,100

Premier,

Inc.,

Class

A

440,793

10,133

Select

Medical

Holdings

Corp.

153,819

3,023

Tenet

Healthcare

Corp.

(a) 532,048

2,267

Universal

Health

Services,

Inc.,

Class

B

410,667

2,807,815

Sterling

Capital

Behavioral

Small

Cap

Value

Equity

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

(continued)

Health

Care

REITs

—

1.86%

2,590

Alexandria

Real

Estate

Equities,

Inc.

$

188,112

16,260

CareTrust

REIT,

Inc.

497,556

12,360

LTC

Properties,

Inc.

427,780

36,060

Sabra

Health

Care

REIT,

Inc.

664,946

1,778,394

Health

Care

Technology

—

0.40%

13,950

HealthStream,

Inc.

385,997

Hotel

&

Resort

Reits

—

0.66%

49,646

DiamondRock

Hospitality

Co.

380,289

24,705

Park

Hotels

&

Resorts,

Inc.

252,732

633,021

Hotel

&

Resort

REITs

—

0.45%

36,709

Apple

Hospitality

REIT,

Inc.

428,394

Hotels,

Restaurants

&

Leisure

—

0.90%

24,510

Accel

Entertainment

Inc

(a) 288,483

1,610

Expedia,

Inc.

271,575

5,810

Travel

+

Leisure

Co.

(a) 299,854

859,912

Household

Products

—

0.39%

11,980

Central

Garden

&

Pet

Co.,

Class

A

(a) 374,854

Industrial

Intermediate

Prod

—

0.67%

10,690

Insteel

Industries,

Inc.

397,775

15,480

Mayville

Engineering

Co.,

Inc.

247,061

644,836

Industrial

REITs

—

0.37%

6,432

Innovative

Industrial

Properties,

Inc.

355,175

Insurance

—

4.49%

3,290

Assured

Guaranty

Ltd.

286,559

5,295

Axis

Capital

Holdings

Ltd.

549,727

6,549

Brighthouse

Financial,

Inc.

352,140

16,630

CNO

Financial

Group,

Inc.

641,585

16,210

Donegal

Group

Inc.,

Class

A

324,605

25,670

Heritage

Insurance

Holdings,

Inc.

640,210

12,860

NMI

Holdings,

Inc.,

Class

A

542,563

12,520

United

Fire

Group,

Inc.

359,324

7,317

Unum

Group

590,921

4,287,634

Internet

Media

&

Services

—

0.97%

11,840

EverQuote,

Inc.

286,291

22,700

Lyft,

Inc.,

Class

A

357,752

21,390

Upwork,

Inc.

287,482

931,525

Sterling

Capital

Behavioral

Small

Cap

Value

Equity

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

(continued)

Leisure

Facilities

&

Services

—

1.17%

5,960

Cracker

Barrel

Old

Country

Store,

Inc.

$

364,037

26,740

International

Game

Technology

PLC

422,759

3,870

Monarch

Casino

&

Resort,

Inc.

334,523

1,121,319

Leisure

Products

—

0.29%

14,090

Mattel,

Inc.

277,855

Machinery

—

2.00%

1,880

Alamo

Group,

Inc.

410,554

18,980

Kennametal,

Inc.

435,781

8,557

Mueller

Industries,

Inc.

680,025

37,180

Titan

International,

Inc.

381,839

1,908,199

Marine

Transportation

—

0.61%

5,216

Matson,

Inc.

580,802

Media

—

0.70%

6,050

Fox

Corporation,

Class

A

339,042

6,430

Fox

Corporation,

Class

B

331,981

671,023

Metals

&

Mining

—

0.58%

1,817

Alpha

Metallurgical

Resources,

Inc.

204,376

40,304

SunCoke

Energy,

Inc.

346,212

550,588

Mortgage

Real

Estate

Investment

Trusts

(REITs)

—

0.34%

28,784

Rithm

Capital

Corp.

324,971

Multi-Utilities

—

1.11%

14,030

Avista

Corp.

532,439

10,260

NorthWestern

Corp.

526,338

1,058,777

Office

REITs

—

0.67%

11,298

Cousins

Properties,

Inc.

339,279

8,708

Kilroy

Realty

Corp.

298,771

638,050

Oil

&

Gas

Producers

—

1.73%

20,700

CNX

Resources

Corp.

697,177

23,120

Diversified

Energy

Co

PLC

339,170

11,420

Excelerate

Energy,

Inc.,

Class

A

334,834

6,990

Range

Resources

Corp.

284,283

1,655,464

Oil

&

Gas

Services

&

Equipment

—

0.75%

29,390

MRC

Global,

Inc.

402,937

66,030

RPC,

Inc.

312,322

715,259

Sterling

Capital

Behavioral

Small

Cap

Value

Equity

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

(continued)

Oil,

Gas

&

Consumable

Fuels

—

4.06%

APA

Corp.

$

1,902

31,780

Ardmore

Shipping

Corp.

305,088

73,890

Berry

Petroleum

Corp.

204,675

12,510

Coterra

Energy,

Inc.

317,504

35,830

DHT

Holdings,

Inc.

387,322

13,250

Dorian

LPT

Ltd.

323,035

2,090

Gulport

Energy

Corp.

420,446

10,670

International

Seaways,

Inc.

389,242

13,350

Magnolia

Oil

&

Gas

Corp.,

Class

A

300,108

122,410

Nordic

American

Tankers

Ltd.

321,938

6,840

Ovintiv,

Inc.

260,262

19,410

Permian

Resources

Corp.

264,364

13,600

World

Fuel

Services

Corp.

385,560

3,881,446

Paper

&

Forest

Products

—

0.32%

6,040

Sylvamo

Corp.

302,604

Passenger

Airlines

—

2.19%

6,140

Allegiant

Travel

Co.

337,393

2,903

Copa

Holdings

SA,

Class

A

319,243

8,704

SkyWest,

Inc.

896,251

21,920

Sun

Country

Airlines

Holdings

Inc.

257,560

3,610

United

Continental

Holdings,

Inc.

287,464

2,097,911

Pharmaceuticals

—

2.78%

9,279

Amphastar

Pharmaceuticals,

Inc.

213,046

8,070

Harmony

Biosciences

Holdings,

Inc.

255,012

2,736

Jazz

Pharmaceuticals

PLC

290,344

15,000

Organon

&

Co.

145,200

14,820

Pacira

Pharmaceuticals,

Inc./DE

354,198

16,830

Phibro

Animal

Health

Corp.,

Class

A

429,839

10,330

Royalty

Pharma

PLC,

Class

A

372,190

11,970

Supernus

Pharmaceuticals,

Inc.

377,294

24,822

Viatris,

Inc.

221,660

2,658,783

Professional

Services

—

0.35%

11,580

IBEX

Holdings

Ltd

336,978

Real

Estate

Management

&

Development

—

0.90%

15,130

Forestar

Group,

Inc.

302,600

4,170

Howard

Hughes

Holdings,

Inc.

281,475

16,659

RMR

Group,

Inc.

(The),

Class

A

272,375

856,450

Real

Estate

Services

—

0.34%

29,660

Cushman

&

Wakefield

PLC

328,336

Sterling

Capital

Behavioral

Small

Cap

Value

Equity

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

(continued)

REIT

—

0.98%

22,780

Alexander

&

Baldwin,

Inc.

$

406,167

19,120

COPT

Defense

Properties

527,330

933,497

Retail

-

Discretionary

—

0.91%

7,230

Build-A-Bear

Workshop,

Inc.

372,779

9,680

Rush

Enterprises,

Inc.,

Class

A

498,617

871,396

Retail

REITs

—

0.54%

24,608

Kimco

Realty

Corp.

517,260

Semiconductors

&

Semiconductor

Equipment

—

1.00%

13,776

Amkor

Technology,

Inc.

289,158

20,140

Photronics,

Inc.

379,236

3,880

Skyworks

Solutions,

Inc.

289,138

957,532

Software

—

2.19%

25,233

Adeia,

Inc.

356,794

12,370

Computer

Programs

&

Systems,

Inc.

289,705

14,500

Consensus

Cloud

Solutions,

Inc.

334,370

6,740

Gen

Digital,

Inc.

198,156

20,430

OneSpan,

Inc.

340,978

10,090

RingCentral,

Inc.,

Class

A

286,052

3,730

Zoom

Video

Communications,

Inc.

290,865

2,096,920

Specialized

REITs

—

2.08%

6,275

EPR

Properties

365,582

6,410

Gaming

and

Leisure

Properties,

Inc.

299,219

20,630

Safehold,

Inc.

321,003

115,469

Uniti

Group,

Inc.

498,826

15,550

VICI

Properties,

Inc.

506,929

1,991,559

Specialty

Finance

—

0.63%

40,040

AG

Mortgage

Investment

Trust,

Inc.

302,302

1,790

World

Acceptance

Corp.

295,565

597,867

Specialty

Retail

—

2.86%

6,650

Buckle,

Inc.

301,578

13,830

Gap,

Inc.

(The)

301,632

35,610

Sally

Beauty

Holdings,

Inc.

329,749

14,280

Signet

Jewelers

Ltd.

1,135,973

9,280

Urban

Outfitters,

Inc.

673,171

2,742,103

Steel

—

0.31%

13,810

Ryerson

Holding

Corp.

297,882

Sterling

Capital

Behavioral

Small

Cap

Value

Equity

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

(continued)

Technology

Hardware

—

1.42%

44,270

Cricut,

Inc.,

Class

A

$

299,708

21,520

Daktronics,

Inc.

325,382

5,950

Flex

Ltd.

297,024

17,130

NetScout

Systems,

Inc.

424,995

1,347,109

Technology

Services

—

0.19%

5,580

LiveRamp

Holdings,

Inc.

184,363

Telecommunications

—

0.54%

12,480

Globalstar,

Inc.

293,904

7,320

Iridium

Communications,

Inc.

(a) 220,844

514,748

Textiles,

Apparel

&

Luxury

Goods

—

0.65%

12,692

G-III

Apparel

Group

Ltd.

284,301

1,220

Ralph

Lauren

Corp.

334,621

618,922

Trading

Companies

&

Distributors

—

0.41%

26,710

DNOW,

Inc.

396,109

Transportation

&

Logistics

—

0.35%

45,380

Golden

Ocean

Group

Ltd.

332,182

Total

Common

Stocks

(Cost $82,562,272)

94,290,125

Shares

Fair

Value

MONEY

MARKET

FUNDS

—

1.26%

1,206,258

Federated

Hermes

Treasury

Obligations

Fund,

Institutional

Shares,

4.18%

(b) 1,206,258

Total

Money

Market

Funds

(Cost

$1,206,258)

1,206,258

Total

Investments—

99.90%

(Cost

$83,768,530)

95,496,383

Other

Assets

in

Excess

of

Liabilities

—

0.10%

93,891

NET

ASSETS

—

100.00%

$

95,590,274

(a) Non-income

producing

security.

(b) Represents

the

current

yield

as

of

report

date.

Sterling

Capital

Special

Opportunities

Fund

Schedule

of

Investments

June

30,

2025

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

99.20%

Asset

Management

—

3.37%

91,751

Apollo

Global

Management,

Inc.

$

13,016,714

Capital

Markets

—

5.35%

137,658

Charles

Schwab

Corp.

(The)

12,559,917

15,474

S&P

Global,

Inc.

8,159,285

20,719,202

Commercial

Services

&

Supplies

—

3.03%

238,913

Copart,

Inc.

(a) 11,723,461

Communications

Equipment

—

2.22%

29,125

F5,

Inc.

(a) 8,572,070

Construction

Materials

—

3.77%

158,776

CRH

PLC

14,575,637

Entertainment

—

1.91 %

30,420

Take-Two

Interactive

Software,

Inc.

(a) 7,387,497

Health

Care

Equipment

&

Supplies

—

6.49%

54,826

Danaher

Corp.

10,830,328

163,078

DexCom,

Inc.

(a) 14,235,079

25,065,407

Health

Care

Facilities

&

Services

—

3.39%

42,062

UnitedHealth

Group,

Inc.

13,122,082

Health

Care

Providers

&

Services

—

2.46%

24,863

HCA

Healthcare,

Inc.

9,525,015

Household

Durables

—

1.49%

52,152

Lennar

Corporation,

Class

A

5,768,533

Insurance

—

2.03%

70,670

Brown

&

Brown,

Inc.

7,835,183

Interactive

Media

&

Services

—

3.85%

84,018

Alphabet,

Inc.,

Class

C

14,903,953

Internet

&

Direct

Marketing

Retail

—

4.70%

82,811

Amazon.com,

Inc.

(a) 18,167,905

IT

Services

—

5.49%

109,906

Akamai

Technologies,

Inc.

(a) 8,766,103

26,138

CACI

International,

Inc.,

Class

A

(a) 12,459,985

21,226,088

Machinery

—

4.24%

17,782

Deere

&

Co.

9,041,969

92,181

Mueller

Industries,

Inc.

7,325,624

16,367,593

Oil

&

Gas

Producers

—

1.82%

85,970

ONEOK,

Inc.

7,017,731

Sterling

Capital

Special

Opportunities

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

(continued)

Pharmaceuticals

—

3.86%

888,652

Teva

Pharmaceutical

Industries

Ltd.

-

ADR

(a) $

14,893,808

Real

Estate

Management

&

Development

—

2.03%

55,974

CBRE

Group,

Inc.,

Class

A

(a) 7,843,077

Semiconductors

—

8.25%

172,011

Coherent

Corp.

(a) 15,345,101

213,780

Marvell

Technology,

Inc.

16,546,571

31,891,672

Semiconductors

&

Semiconductor

Equipment

—

8.00%

145,953

NVIDIA

Corp.

23,059,115

36,066

NXP

Semiconductors

N.V.

7,880,060

30,939,175

Software

—

15.16%

22,223

Intuit,

Inc.

17,503,501

44,090

Microsoft

Corp.

21,930,807

87,497

Oracle

Corp.

19,129,469

58,563,777

Technology

Services

—

3.90%

42,500

Visa,

Inc.,

Class

A

15,089,625

Wireless

Telecommunication

Services

—

2.39%

38,758

T-Mobile

US,

Inc.

9,234,481

Total

Common

Stocks

(Cost $218,717,797)

383,449,686

Shares

Fair

Value

MONEY

MARKET

FUNDS

—

0.68%

2,646,875

Federated

Hermes

Treasury

Obligations

Fund,

Institutional

Shares,

4.18%

(b) 2,646,875

Total

Money

Market

Funds

(Cost

$2,646,875)

2,646,875

Total

Investments—

99.88%

(Cost

$221,364,672)

386,096,561

Other

Assets

in

Excess

of

Liabilities

—

0.12%

471,029

NET

ASSETS

—

100.00%

$

386,567,590

(a) Non-income

producing

security.

(b) Represents

the

current

yield

as

of

report

date.

ADR

-

American

Depositary

Receipt.

Sterling

Capital

Equity

Income

Fund

Schedule

of

Investments

June

30,

2025

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

98.63%

Beverages

—

3.08%

289,875

PepsiCo,

Inc.

$

38,275,095

Biotechnology

—

2.82%

188,918

AbbVie,

Inc.

35,066,959

Capital

Markets

—

17.14%

105,403

Ameriprise

Financial,

Inc.

56,256,743

890,420

Charles

Schwab

Corp.

(The)

81,241,922

38,176

Goldman

Sachs

Group,

Inc.

(The)

27,019,064

224,113

Nasdaq,

Inc.

20,040,184

187,433

Raymond

James

Financial,

Inc.

28,746,599

213,304,512

Chemicals

—

4.49%

118,916

New

Linde

PLC

55,793,009

Commercial

Support

Services

—

1.91%

104,061

Waste

Management,

Inc.

23,811,238

Containers

&

Packaging

—

0.99%

70,475

Avery

Dennison

Corp.

12,366,248

Electrical

Equipment

—

3.49%

130,607

Rockwell

Automation,

Inc.

43,383,727

Health

Care

Equipment

&

Supplies

—

3.48%

196,128

Abbott

Laboratories

26,675,369

96,243

Becton

Dickinson

and

Co.

16,577,857

43,253,226

Health

Care

Providers

&

Services

—

4.50%

100,578

Elevance

Health,

Inc.

39,120,819

54,476

UnitedHealth

Group,

Inc.

16,994,878

56,115,697

Hotels,

Restaurants

&

Leisure

—

3.22%

88,948

Domino's

Pizza,

Inc.

40,079,969

Household

Durables

—

1.52%

146,575

DR

Horton,

Inc.

18,896,449

Insurance

—

12.11%

365,097

Aflac,

Inc.

38,503,130

129,694

Everest

Group,

Ltd.

44,076,506

193,849

Marsh

&

McLennan

Cos.,

Inc.

42,383,145

319,778

MetLife,

Inc.

25,716,547

150,679,328

It

Services

—

3.40%

141,693

Accenture

PLC,

Class

A

42,350,621

Machinery

—

2.87%

70,268

Deere

&

Co.

35,730,575

Sterling

Capital

Equity

Income

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

(continued)

Oil,

Gas

&

Consumable

Fuels

—

3.84%

1,600,081

Coterra

Energy,

Inc.

$

40,610,055

53,425

Valero

Energy

Corp.

7,181,389

47,791,444

Pharmaceuticals

—

0.26%

20,896

Johnson

&

Johnson

3,191,864

Professional

Services

—

7.76%

181,758

Automatic

Data

Processing,

Inc.

56,054,167

389,589

Booz

Allen

Hamilton

Corp.

40,567,903

96,622,070

Semiconductors

&

Semiconductor

Equipment

—

4.93%

257,522

Analog

Devices,

Inc.

61,295,386

Software

—

5.51%

137,825

Microsoft

Corp.

68,555,533

Specialized

REITs

—

1.43%

419,511

CubeSmart

17,829,218

Specialty

Retail

—

3.24%

110,026

Home

Depot,

Inc.

(The)

40,339,932

Tobacco

—

0.99%

211,036

Altria

Group,

Inc.

12,373,041

Trading

Companies

&

Distributors

—

5.65%

322,756

Exagen,

Inc.

70,280,119

Total

Common

Stocks

(Cost $848,760,334)

1,227,385,260

Shares

Fair

Value

MONEY

MARKET

FUNDS

—

1.62%

20,101,608

Federated

Hermes

Treasury

Obligations

Fund,

Institutional

Shares,

4.18%

(a) 20,101,608

Total

Money

Market

Funds

(Cost

$20,101,608)

20,101,608

Total

Investments—

100.25%

(Cost

$868,861,942)

1,247,486,868

Liabilities

in

Excess

of

Other

Assets

—

(0.25)%

(3,162,634)

NET

ASSETS

—

100.00%

$

1,244,324,234

(a) Represents

the

current

yield

as

of

report

date.

Sterling

Capital

Mid

Cap

Relative

Value

Fund

Schedule

of

Investments

June

30,

2025

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

97.53%

Aerospace

&

Defense

—

2.81%

3,360

Curtiss-Wright

Corp.

$

1,641,528

Automobile

Components

—

1.46%

6,946

Dorman

Products,

Inc.

(a) 852,066

Banks

—

6.87%

10,480

East

West

Bancorp,

Inc.

1,058,270

51,276

Huntington

Bancshares,

Inc.

859,386

7,980

UMB

Financial

Corp.

839,177

10,181

Wintrust

Financial

Corp.

1,262,240

4,019,073

Building

Products

—

2.58%

4,041

Carlisle

Cos.,

Inc.

1,508,909

Capital

Markets

—

2.53%

2,766

Ameriprise

Financial,

Inc.

1,476,297

Chemicals

—

1.00%

18,087

Avient

Corp.

584,391

Construction

&

Engineering

—

5.34%

18,345

MasTec,

Inc.

(a) 3,126,538

Consumer

Staples

Distribution

&

Retail

—

10.89%

15,645

BJ's

Wholesale

Club

Holdings,

Inc.

(a) 1,687,000

5,911

Casey's

General

Stores,

Inc.

3,016,207

19,007

Performance

Food

Group

Co.

(a) 1,662,542

6,365,749

Containers

&

Packaging

—

3.75%

83,699

Amcor

PLC

769,194

8,091

Avery

Dennison

Corp.

1,419,728

2,188,922

Electrical

Equipment

—

1.40%

3,885

Powell

Industries,

Inc.

817,598

Electronic

Equipment,

Instruments

&

Components

—

3.45%

8,754

Arrow

Electronics,

Inc.

(a) 1,115,523

5,055

CDW

Corp.

902,772

2,018,295

Entertainment

—

2.99%

7,183

Take-Two

Interactive

Software,

Inc.

(a) 1,744,392

Sterling

Capital

Mid

Cap

Relative

Value

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

(continued)

Financial

Services

—

2.99%

10,143

Fiserv,

Inc.

(a) $

1,748,755

Gas

Utilities

—

2.73%

21,415

Southwest

Gas

Corp.

1,593,062

Health

Care

Equipment

&

Supplies

—

0.98%

3,335

Becton

Dickinson

and

Co.

574,454

Health

Care

REITs

—

1.90%

60,223

Sabra

Health

Care

REIT,

Inc.

1,110,512

Household

Durables

—

1.53%

8,462

PulteGroup,

Inc.

892,402

Industrial

REITs

—

2.25%

7,824

EastGroup

Properties,

Inc.

1,307,548

Insurance

—

5.94%

8,172

American

Financial

Group,

Inc.

1,031,388

17,130

First

American

Financial

Corp.

1,051,611

8,153

Hanover

Insurance

Group,

Inc.

(The)

(a) 1,384,950

3,467,949

Life

Sciences

Tools

&

Services

—

4.74%

6,145

ICON

PLC

(a) 893,790

9,917

Revvity,

Inc.

959,172

2,252

Thermo

Fisher

Scientific,

Inc.

913,096

2,766,058

Machinery

—

2.46%

12,657

Oshkosh

Corp.

1,437,076

Multi-Utilities

—

3.32%

48,113

Nisource,

Inc.

1,940,878

Oil,

Gas

&

Consumable

Fuels

—

5.58%

42,608

Coterra

Energy,

Inc.

1,081,391

4,283

Gulport

Energy

Corp.

(a) 861,611

11,060

Phillips

1,319,458

3,262,460

Professional

Services

—

4.31%

5,276

CACI

International,

Inc.,

Class

A

(a) 2,515,069

Residential

REITs

—

1.95%

7,709

Mid-America

Apartment

Communities,

Inc.

1,141,009

Sterling

Capital

Mid

Cap

Relative

Value

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

(continued)

Retail

REITs

—

1.52%

34,134

Brixmor

Property

Group,

Inc.

$

888,849

Semiconductors

&

Semiconductor

Equipment

—

0.73%

5,735

Skyworks

Solutions,

Inc.

427,372

Software

—

3.81%

5,152

Commvault

Systems,

Inc.

(a) 898,148

7,670

PTC,

Inc.

(a) 1,321,848

2,219,996

Specialized

REITs

—

2.02%

6,782

Digital

Realty

Trust,

Inc.

1,182,306

Trading

Companies

&

Distributors

—

3.70%

2,867

United

Rentals,

Inc.

2,159,998

Total

Common

Stocks

(Cost $36,838,772)

56,979,511

Shares

Fair

Value

MONEY

MARKET

FUNDS

—

2.59%

1,510,175

Federated

Hermes

Treasury

Obligations

Fund,

Institutional

Shares,

4.18%

(b) 1,510,175

Total

Money

Market

Funds

(Cost

$1,510,175)

1,510,175

Total

Investments—

100.12%

(Cost

$38,348,947)

58,489,686

Liabilities

in

Excess

of

Other

Assets

—

(0.12)%

(72,915)

NET

ASSETS

—

100.00%

$

58,416,771

(a) Non-income

producing

security.

(b) Represents

the

current

yield

as

of

report

date.

Sterling

Capital

Real

Estate

Fund

Schedule

of

Investments

June

30,

2025

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

98.41%

Equity

Real

Estate

Investment

Trusts

(REITs)

—

2.27%

48,337

Essential

Properties

Realty

Trust,

Inc.

$

1,542,434

Health

Care

REITs

—

14.65%

95,029

Sabra

Health

Care

REIT,

Inc.

1,752,335

46,574

Ventas,

Inc.

2,941,148

34,315

Welltower,

Inc.

5,275,245

9,968,728

Hotel

&

Resort

REITs

—

3.24%

53,095

Apple

Hospitality

REIT,

Inc.

619,619

16,078

Ryman

Hospitality

Properties,

Inc.

1,586,416

2,206,035

Industrial

REITs

—

12.39%

11,648

EastGroup

Properties,

Inc.

1,946,614

31,578

First

Industrial

Realty

Trust,

Inc.

1,519,849

31,486

Prologis,

Inc.

3,309,808

46,521

Rexford

Industrial

Realty,

Inc.

1,654,752

8,431,023

Office

REITs

—

4.34%

18,113

Boston

Properties,

Inc.

1,222,084

165,729

Brandywine

Realty

Trust

710,977

32,904

Highwoods

Properties,

Inc.

1,022,985

2,956,046

Residential

REITs

—

16.39%

12,741

Camden

Property

Trust

1,435,783

8,418

Essex

Property

Trust,

Inc.

2,385,661

65,865

Invitation

Homes,

Inc.

2,160,372

14,862

Mid-America

Apartment

Communities,

Inc.

2,199,725

21,921

NexPoint

Residential

Trust,

Inc.

730,408

54,874

UDR,

Inc.

2,240,505

11,152,454

Retail

REITs

—

11.40%

73,624

Brixmor

Property

Group,

Inc.

1,917,169

36,769

InvenTrust

Properties

Corp.

(a) 1,007,471

89,482

Kite

Realty

Group

Trust

2,026,767

49,082

NETSTREIT

Corp.

(a) 830,958

64,592

Tanger

Factory

Outlet

Centers,

Inc.

1,975,223

7,757,588

Sterling

Capital

Real

Estate

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

(continued)

Specialized

REITs

—

33.73%

28,949

American

Tower

Corp.,

Class

A

$

6,398,309

34,655

CubeSmart

1,472,838

30,019

Digital

Realty

Trust,

Inc.

5,233,212

3,856

Equinix,

Inc.

3,067,332

17,103

Extra

Space

Storage,

Inc.

2,521,666

6,971

SBA

Communications

Corp.,

Class

A

1,637,070

80,294

VICI

Properties,

Inc.

2,617,584

22,948,011

Total

Common

Stocks

(Cost $39,544,571)

66,962,319

Shares

Fair

Value

MONEY

MARKET

FUNDS

—

1.26%

858,573

Federated

Hermes

Treasury

Obligations

Fund,

Institutional

Shares,

4.18%

(b) 858,573

Total

Money

Market

Funds

(Cost

$858,573)

858,573

Total

Investments—

99.67%

(Cost

$40,403,144)

67,820,892

Other

Assets

in

Excess

of

Liabilities

—

0.33%

227,373

NET

ASSETS

—

100.00%

$

68,048,265

(a) Non-income

producing

security.

(b) Represents

the

current

yield

as

of

report

date.

Sterling

Capital

Small

Cap

Value

Fund

Schedule

of

Investments

June

30,

2025

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

.91

%

Aerospace

&

Defense

—

.78

%

34,546

Moog,

Inc.,

Class

A

$

6,251,790

Automobile

Components

—

.21

%

24,755

Dorman

Products,

Inc.

(a) 3,036,696

215,732

Garret

Motion,

Inc.

(a) 2,267,343

5,304,039

Banks

—

.93

%

70,299

Columbia

Banking

System,

Inc.

1,643,591

67,224

Community

Bank

System,

Inc.

3,823,029

83,104

Glacier

Bancorp,

Inc.

3,580,120

112,542

Old

National

Bancorp

(a) 2,401,646

49,750

United

Bankshares,

Inc.

1,812,393

71,398

Webster

Financial

Corp.

3,898,331

47,360

Wintrust

Financial

Corp.

5,871,692

23,030,802

Capital

Markets

—

.62

%

21,984

Affiliated

Managers

Group,

Inc.

4,325,792

Chemicals

—

.15

%

109,866

Avient

Corp.

3,549,770

Construction

&

Engineering

—

.61

%

44,688

MasTec,

Inc.

(a) 7,616,176

Consumer

Staples

Distribution

&

Retail

—

.25

%

48,243

BJ's

Wholesale

Club

Holdings,

Inc.

(a) 5,202,043

13,276

Casey's

General

Stores,

Inc.

6,774,345

56,735

Performance

Food

Group

Co.

(a) 4,962,610

16,938,998

Electric

Utilities

—

.02

%

82,140

Portland

General

Electric

Co.

3,337,348

Electrical

Equipment

—

.39

%

46,120

EnerSys

3,955,712

Electronic

Equipment,

Instruments

&

Components

—

.01

%

51,692

Belden,

Inc.

5,985,933

44,566

Crane

NXT

Co.

2,402,107

44,300

Eplus,

Inc.

(a) 3,194,030

11,582,070

Energy

Equipment

&

Services

—

.97

%

185,280

Select

Energy

Services,

Inc.,

Class

A

1,600,819

Entertainment

—

.84

%

19,362

Take-Two

Interactive

Software,

Inc.

(a) 4,702,062

Gas

Utilities

—

.44

%

54,250

Southwest

Gas

Corp.

4,035,658

Sterling

Capital

Small

Cap

Value

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

(continued)

Household

Durables

—

.33

%

57,544

Meritage

Homes

Corp.

$

3,853,722

Industrial

REITs

—

.78

%

95,638

First

Industrial

Realty

Trust,

Inc.

4,603,057

Insurance

—

.38

%

35,871

Hanover

Insurance

Group,

Inc.

(The)

(a) 6,093,407

51,339

Selective

Insurance

Group,

Inc.

4,448,524

10,541,931

Life

Sciences

Tools

&

Services

—

.82

%

13,772

West

Pharmaceutical

Services,

Inc.

3,013,314

Machinery

—

.31

%

36,956

Crane

Co.

7,017,575

44,441

Oshkosh

Corp.

5,045,831

12,063,406

Office

REITs

—

.52

%

80,892

Highwoods

Properties,

Inc.

2,514,932

Oil,

Gas

&

Consumable

Fuels

—

.43

%

16,549

Chord

Energy

Corp.

1,602,771

40,311

Matador

Resources

Co.

1,923,641

75,552

Northern

Oil

and

Gas,

Inc.

2,141,899

5,668,311

Professional

Services

—

.56

%

12,356

CACI

International,

Inc.,

Class

A

(a) 5,890,105

Retail

REITs

—

.55

%

83,581

Tanger

Factory

Outlet

Centers,

Inc.

2,555,907

Semiconductors

&

Semiconductor

Equipment

—

.84

%

55,743

ON

Semiconductor

Corp.

(a) 2,921,491

20,856

Qorvo,

Inc.

(a) 1,770,883

4,692,374

Software

—

.84

%

27,234

PTC,

Inc.

(a) 4,693,508

Trading

Companies

&

Distributors

—

.33

%

10,381

Herc

Holdings,

Inc.

1,367,074

7,685

United

Rentals,

Inc.

5,789,879

7,156,953

Total

Common

Stocks

(Cost $48,947,774)

163,478,556

Sterling

Capital

Small

Cap

Value

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Shares

Fair

Value

MONEY

MARKET

FUNDS

—

.07

%

1,776,309

Federated

Hermes

Treasury

Obligations

Fund,

Institutional

Shares,

4.18%

(b) $

1,776,309

Total

Money

Market

Funds

(Cost

$1,776,309)

1,776,309

Total

Investments—

.98

%

(Cost

$50,724,083)

165,254,865

Other

Assets

in

Excess

of

Liabilities

—

.02

%

31,975

NET

ASSETS

—

100.00%

$

165,286,840

(a) Non-income

producing

security.

(b) Represents

the

current

yield

as

of

report

date.

G.O.

-

General

Obligation

Sterling

Capital

Ultra

Short

Bond

Fund

Schedule

of

Investments

June

30,

2025

(Unaudited)

+

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

37.65%

AEROSPACE

&

DEFENSE

—

0.94%

$

250,000

Boeing

Co.

(The),

2.60%,

10/30/25

$

247,849

ASSET

MANAGEMENT

—

1.74%

250,000

Blackstone

Secured

Lending

Fund,

3.63%,

1/15/26

248,430

215,000

Blackstone

Private

Credit

Fund,

2.63%,

12/15/26

207,729

300,000

UBS

Group

AG,

–%,

2/02/27

(a) —

456,159

AUTOMOTIVE

—

2.12%

250,000

Ford

Motor

Credit

Co

LLC,

6.95%,

3/06/26

252,411

300,000

Hyundai

Capital

America,

5.50%,

3/30/26

(a) 301,855

554,266

BANKING

—

3.08%

300,000

Barclays

PLC,

6.97%,

11/02/26

(H15T1Y

+

bps)

(b) 302,490

300,000

Societe

Generale

SA,

–%,

12/14/26

(a) —

250,000

Credit

Agricole

SA,

1.25%,

1/26/27

(a) 245,232

260,000

JPMorgan

Chase

&

Co.,

5.25%,

10/22/28

(O/N

SOFR

+86

bps)

260,783

808,505

BANKS

—

3.29%

250,000

ABN

AMRO

Bank

N.V.,

4.75%,

7/28/25

(a) 249,991

364,000

Lloyds

Banking

Group

PLC,

4.58%,

12/10/25

363,641

250,000

Australia

&

New

Zealand

Banking

Group

Ltd.,

4.40%,

5/19/26

(a) 249,635

863,267

BEVERAGES

—

0.93%

250,000

Bacardi

Ltd.,

2.75%,

7/15/26

(a) 244,817

CAPITAL

MARKETS

—

1.67%

300,000

Blue

Owl

Capital

Corp.,

3.75%,

7/22/25

299,765

140,000

Brightsphere

Investment

Group,

Inc.,

4.80%,

7/27/26

139,791

439,556

ELECTRIC

UTILITIES

—

0.30%

78,000

Vistra

Operations

Co.

LLC,

5.05%,

12/30/26

(a) 78,381

ENTERTAINMENT

CONTENT

—

0.95%

250,000

Discovery

Communications

LLC,

4.90%,

3/11/26

249,595

HEALTH

CARE

FACILITIES

&

SERVICES

—

1.96%

300,000

HCA

Inc.,

5.25%,

6/15/26

300,416

215,000

IQVIA,

Inc.,

5.00%,

10/15/26

(a) 214,780

Sterling

Capital

Ultra

Short

Bond

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

HEALTH

CARE

FACILITIES

&

SERVICES

—

(continued)

$

515,196

INSURANCE

—

5.85%

$

300,000

F&G

Global

Funding,

5.15%,

7/07/25

(a)(c) 300,007

250,000

Reliance

Standard

Life

Global

Funding

II,

5.24%,

2/02/26

(a) 250,643

190,000

Brighthouse

Financial

Global

Funding,

1.55%,

5/24/26

(a) 184,805

300,000

Athene

Global

Funding,

5.29%,

8/27/26

(SOFRIX

+

bps)

(a) 301,192

250,000

SBL

Holdings,

Inc.,

5.13%,

11/13/26

(a) 247,851

250,000

Marsh

&

McLennan

Cos,

Inc.,

5.09%,

11/08/27

(O/N

SOFR

+

bps)

250,578

1,535,076

LEISURE

FACILITIES

&

SERVICES

—

0.92%

230,000

NCL

Corp.

Ltd.,

8.13%,

1/15/29

(a) 242,462

MACHINERY

—

0.96%

250,000

Regal

Rexnord

Corp.,

6.05%,

2/15/26

251,445

MORTGAGE

REAL

ESTATE

INVESTMENT

-TRUSTS

(REITS)

—

0.84%

225,000

Starwood

Property

Trust,

Inc.,

3.63%,

7/15/26

(a) 221,176

OIL

&

GAS

PRODUCERS

—

1.12%

300,000

MPLX

LP,

Class

B,

1.75%,

3/01/26

294,205

200,000

Sabine

Pass

Liquefaction

LLC,

5.88%,

6/30/26

—

294,205

REIT

—

1.70%

250,000

VICI

Properties

LP

/

VICI

Note

Co.,

Inc.,

4.25%,

12/01/26

(a) 248,476

207,000

Global

Net

Lease

Operating

Partnership

LP,

3.75%,

12/15/27

(a) 197,690

446,166

SOFTWARE

—

0.97%

250,000

Concentrix

Corp.,

6.65%,

8/02/26

254,512

SPECIALTY

FINANCE

—

4.52%

108,000

Ladder

Capital

Finance

Holdings

LLLP,

Class

B,

5.25%,

10/01/25

(a) 107,956

250,000

Capital

One

Financial

Corp.,

4.20%,

10/29/25

249,644

250,000

Air

Lease

Corp.,

2.88%,

1/15/26

247,452

300,000

Avolon

Holdings

Funding

Ltd.,

5.50%,

1/15/26

(a) 300,462

285,000

AerCap

Ireland

Capial

DAC,

1.75%,

1/30/26

280,017

Sterling

Capital

Ultra

Short

Bond

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

SPECIALTY

FINANCE

—

(continued)

$

1,185,531

TELECOMMUNICATIONS

—

0.94%

$

250,000

T-Mobile

USA

Inc.,

2.25%,

2/15/26

246,125

TRANSPORTATION

&

LOGISTICS

—

1.82%

75,000

Delta

Air

Lines,

Inc.

/

SkyMiles

IP

Ltd.,

4.50%,

10/20/25

(a) 74,819

250,000

Delta

Air

Lines,

Inc.,

7.38%,

1/15/26

253,480

148,000

United

Airlines,

Inc.,

4.38%,

4/15/26

(a)(c) 147,022

475,321

TRANSPORTATION

EQUIPMENT

—

1.03%

271,000

Daimler

Truck

Finance

North

America

LLC,

5.26%,

9/25/27

(O/N

SOFR

+

bps)

(a) 271,290

Total

(Cost $10,653,410)

9,880,900

Principal

Amount

Fair

Value

ASSET

BACKED

SECURITIES

—

39.04%

31,421

GreatAmerica

Leasing

Receivables

Funding

LLC,

Series

,

Class

A2,

5.35%,

2/16/26

(a) 31,438

112,500

Hertz

Vehicle

Financing

LLC

,

Class

A,

3.73%,

9/25/26

(a) 112,332

31,403

Fannie

Mae,

Series

,

Class

BH,

2.50%,

1/25/27

31,130

152,770

Mercedes-Benz

Auto

Lease

Trust,

Series

2024-A

,

Class

A2B,

4.72%,

2/16/27

(SOFR30A

+

bps)

152,801

375,000

Avis

Budget

Rental

Car

Funding

AESOP

LLC,

Series

2A

,

Class

A,

2.02%,

2/20/27

(a) 370,682

200,000

Ford

Credit

Floorplan

Master

Owner

Trust,

Series

,

Class

A2,

5.05%,

4/15/27

(SOFR30A

+

bps)

(a) 200,515

27,613

GM

Financial

Consumer

Automobile

Receivables,

Series

,

Class

A3,

3.64%,

4/16/27

27,560

150,000

Hertz

Vehicle

Financing

LLC,

Series

1A

,

Class

A,

5.49%,

6/25/27

(a) 150,765

350,000

Ford

Credit

Auto

Owner

Trust,

Series

2022-A

,

Class

B,

1.91%,

7/15/27

345,639

44,259

OneMain

Direct

Auto

Receivables

Trust,

Series

1A

,

Class

A,

3.63%,

9/14/27

(a) 44,111

452,000

GreatAmerica

Leasing

Receivables

Funding

LLC,

Series

,

Class

B,

1.31%,

9/15/27

(a) 447,218

168,205

Carmax

Select

Receivables

Trust,

Series

2024-A

,

Class

A2A,

5.78%,

9/15/27

168,792

144,000

GM

Financial

Consumer

Automobile

Receivables,

Series

,

Class

A4,

0.99%,

10/18/27

142,334

Sterling

Capital

Ultra

Short

Bond

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

ASSET

BACKED

SECURITIES

—

(continued)

$

25,131

Santander

Drive

Auto

Receivables

Trust,

Series

2022-4

,

4.42%,

11/15/27

$

25,110

250,000

Bridgecrest

Lending

Auto

Sec.

Trust,

Series

2025-2

,

Class

A2,

4.84%,

1/18/28

249,982

148,590

World

Omni

Select

Auto

Trust,

Series

2024-A

,

Class

A2A,

5.37%,

2/15/28

148,926

205,549

World

Omni

Auto

Receivables

Trust,

Series

2022-D

,

Class

A3,

5.61%,

2/15/28

206,318

143,651

AmeriCredit

Automobile

Receivables

Trust,

Series

2024-1

,

Class

A2A,

5.75%,

2/18/28

143,973

230,000

Ally

Auto

Receivables

Trust,

Series

2022-2

,

Class

A4,

4.87%,

4/17/28

230,867

300,000

PFS

Financing

Corp.,

Series

C

,

Class

A,

5.10%,

4/17/28

(a)(d) 300,586

277,329

MMAF

Equipment

Finance

LLC,

Series

2022-B

,

Class

A3,

5.61%,

7/10/28

(a) 277,563

33,953

OneMain

Direct

Auto

Receivables

Trust,

Series

1A

,

Class

A,

0.87%,

7/14/28

(a) 33,727

115,000

Santander

Drive

Auto

Receivables

Trust,

Series

2023-4

,

Class

B,

5.77%,

12/15/28

116,500

2,358

Enterprise

Fleet

Financing,

Series

,

Class

A2,

4.65%,

5/20/29

(a) 2,356

277,009

Affirm

Asset

Securitization

Trust,

Series

2025-X1

,

Class

A,

5.08%,

4/15/30

(a) 277,268

205,227

Chenango

Park

CLO

Ltd.,

Series

1A

,

Class

A1AR,

5.31%,

4/15/30

(TSFR3M

+

bps)

(a) 205,221

418,199

VOYA

CLO,

Series

2017-2A

,

Class

A1R,

5.50%,

6/07/30

(a) 418,242

232,714

Dryden

Senior

Loan

Fund,

Series

50A

,

Class

A1R,

5.52%,

7/15/30

((TSFR3M

+

26.20 bps)

+

bps)

(a)(b) 232,732

250,000

Dryden

CLO

Ltd.,

Series

53A

,

Class

BR,

–%,

1/15/31

(a)(d) 250,000

107,735

ARI

Fleet

Lease

Trust,

Series

A

,

Class

A3,

3.43%,

1/15/31

(a) 107,519

170,760

KKR

CLO

Ltd.,

Series

,

Class

A,

5.52%,

4/15/31

((TSFR3M

+

26.20 bps)

+

bps)

(a)(b) 170,758

143,643

OCP

CLO

Ltd.,

Series

2014-5A

,

Class

A1R,

5.62%,

4/26/31

(TSFR3M

+

bps)

(a) 143,672

250,049

Madison

Park

Funding

XXIII

Ltd.,

Series

23A

,

Class

AR,

5.51%,

7/27/31

(a) 250,334

256,405

Dryden

Senior

Loan

Fund,

Series

40A

,

Class

AR2,

5.48%,

8/15/31

(a) 256,725

300,000

Affirm

Master

Trust,

Series

1A

,

Class

A,

4.99%,

2/15/33

(a) 302,304

Sterling

Capital

Ultra

Short

Bond

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

ASSET

BACKED

SECURITIES

—

(continued)

$

275,000

Ford

Credit

Auto

Owner

Trust,

Series

,

Class

A,

1.06%,

4/15/33

(a) $

272,224

179,000

Goldentree

Loan

Management

US

Clo

Ltd.,

Series

7A

,

Class

ARR,

5.37%,

4/20/34

(a) 179,055

270,866

OneMain

Financial

Issuance

Trust,

Series

3A

,

Class

A,

5.94%,

5/15/34

(a) 272,326

250,000

SoFi

Consumer

Loan

Program

Trust,

Series

2025-2

,

Class

A,

4.82%,

6/25/34

(a) 250,392

250,000

Magnetite

XXXI

Ltd.

,

Class

A1,

5.62%,

7/15/34

(a) 250,040

55,926

SMB

Private

Education

Loan

Trust,

Series

2017-A

,

Class

A2A,

2.88%,

9/15/34

(a) 55,785

300,000

Peace

Park

CLO

Ltd.,

Series

1A

,

Class

A,

5.66%,

10/20/34

(a) 300,051

297,215

Chesapeake

Funding

II

LLC,

Series

1A

,

Class

A1,

5.52%,

5/15/36

(a) 300,194

100,000

OneMain

Financial

Issuance

Trust,

Series

2021-1

,

Class

A2,

5.06%,

6/16/36

(SOFR30A

+

bps)

(a) 99,941

179,984

Fannie

Mae

,

6.75%,

7/01/36

(H15T1Y

+

219.40 bps)

185,132

252,184

SMB

Private

Education

Loan

Trust,

Series

B

,

Class

A2B,

5.43%,

6/15/37

(a) 252,303

172,803

Sierra

Timeshare

Rec

Funding

LLC,

Series

2021-1

,

Class

A,

0.99%,

11/20/37

(a) 169,729

285,665

Wheels

Fleet

Lease

Funding

LLC,

Series

1A

,

Class

A2,

5.15%,

2/18/39

(TSFR1M

+

bps)

(a) 286,097

45,607

Government

National

Mortgage

Association,

Series

,

Class

GA,

2.50%,

12/20/40

45,257

368,367

Tricon

Residential

Trust,

Series

2025-SFR

,

Class

A,

5.43%,

3/17/42

(TSFR1M

+

bps)

(a) 368,424

121,472

SMB

Private

Education

Loan

Trust,

Series

2024-C

,

Class

A1B,

5.40%,

6/17/52

(SOFR30A

+

bps)

(a) 120,602

265,487

Nelnet

Student

Loan

Trust,

Series

2025-A

,

Class

A1B,

5.40%,

3/15/57

(a) 263,577

Total

(Cost $10,195,236)

10,247,129

Principal

Amount

Fair

Value

COLLATERALIZED

MORTGAGE

OBLIGATIONS

—

3.88%

30,290

AmeriCredit

Automobile

Receivables

Trust,

Series

2021-3,

Class

B,

1.17%,

8/18/27

30,232

240,296

World

Omni

Auto

Receivables

Trust,

Series

2021-C,

Class

A4,

0.64%,

9/15/27

239,234

306,816

Bridgecrest

Lending

Auto

Sec.

Trust,

Series

2025-1,

Class

A2,

5.01%,

9/15/27

306,767

207,872

MMAF

Equipment

Finance

LLC,

Series

2022-A,

Class

A3,

3.20%,

1/13/28

(a) 206,390

Sterling

Capital

Ultra

Short

Bond

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

COLLATERALIZED

MORTGAGE

OBLIGATIONS

—

(continued)

235,119

SoFi

Consumer

Loan

Program

Trust,

Series

2025-1,

Class

A,

4.80%,

2/27/34

(a) 235,557

Total

(Cost $1,014,206)

$

1,018,180

Principal

Amount

Fair

Value

COMMERCIAL

MORTGAGE-BACKED

SECURITIES

—

14.10%

154,319

Freddie

Mac

Multifamily

Structured

Pass

Through,

Series

K052,

Class

A2,

3.15%,

11/25/25

153,424

323,210

BX

Trust,

Series

2021-BXMF,

Class

A,

5.06%,

10/15/26

(TSFR1M

+

75.00 bps)

(a) 322,806

280,000

PFS

Financing

Corp.,

Series

A,

Class

A,

5.15%,

1/15/28

(a) 280,439

338,132

BX

Trust,

Series

2021-RISE,

Class

A,

5.17%,

11/15/36

(TSFR1M

+

86.20 bps)

(a) 337,920

—

Citicorp

Residential

Mortgage

Trust,

Series

2007-2,

Class

A6,

6.77%,

6/25/37

—

148,042

Hilton

Grand

Vacations

Trust,

Series

2023-1,

Class

A,

5.72%,

1/25/38

(a) 151,088

154,820

ELP

Commercial

Mortgage

Trust,

Series

2021-ELP,

Class

C,

5.75%,

11/15/38

(a) 154,626

88,844

BX

Commercial

Mortgage

Trust,

Series

2021-CIP,

Class

B,

5.70%,

12/15/38

(a) 88,789

1,541

JPMBB

Commercial

Mortgage

Securities

Trust,

Series

2014-C23,

Class

A5,

3.93%,

9/15/47

1,531

125,332

CSAIL

Commercial

Mortgage

Trust,

Series

2015-C3,

Class

A4,

3.72%,

8/15/48

124,838

287,228

CSAIL

Commercial

Mortgage

Trust,

Series

2015-C4,

Class

A4,

3.81%,

11/15/48

286,104

350,000

Wells

Fargo

Commercial

Mortgage

Trust,

Series

P2,

Class

A4,

3.81%,

12/15/48

347,899

321,696

Citigroup

Commercial

Mortgage

Trust,

Series

P3,

Class

A3,

3.06%,

4/15/49

318,316

170,000

Citigroup

Commercial

Mortgage

Trust,

Series

2016-C1,

3.21%,

5/10/49

167,792

350,000

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust,

Series

C29,

Class

A4,

3.33%,

5/15/49

345,197

340,000

CSAIL

Commercial

Mortgage

Trust,

Series

2015-C7,

Class

A5,

3.50%,

11/15/49

334,753

200,000

JPMCC

Commercial

Mortgage

Securities

Trust,

Series

JP5,

Class

A5,

3.72%,

3/15/50

196,853

87,228

Citigroup

Commercial

Mortgage

Trust,

Series

GC33,

Class

A4,

3.78%,

9/10/58

86,929

Total

(Cost $3,647,576)

3,699,304

Sterling

Capital

Ultra

Short

Bond

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

U.S.

GOVERNMENT

&

AGENCIES

—

0.00%

400,000

United

States

Treasury

Bill,

0.00 %

,

10/21/25

—

Total

(Cost $394,777)

$

—

Shares

Fair

Value

MONEY

MARKET

FUNDS

—

5.58%

1,463,705

Federated

Hermes

Treasury

Obligations

Fund,

Institutional

Shares,

4.18%

(e) 1,463,705

Total

Money

Market

Funds

(Cost

$1,463,705)

1,463,705

Total

Investments—

100.31%

(Cost

$27,383,910)

26,324,218

Liabilities

in

Excess

of

Other

Assets

—

(0.31)%

(81,301)

NET

ASSETS

—

100.00%

$

26,242,917

(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

June

30,

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

June

30,

2025

is

$447,031

,

which

represents

1.7%

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

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

56.17%

AEROSPACE

&

DEFENSE

—

3.19%

$

283,000

RTX

Corp.,

5.75%,

11/08/26

$

288,225

400,000

BAE

Systems

PLC,

5.00%,

3/26/27

(a) 404,600

365,000

Boeing

Co.

(The),

6.26%,

5/01/27

375,518

250,000

Howmet

Aerospace,

Inc.,

6.75%,

1/15/28

263,330

1,331,673

ASSET

MANAGEMENT

—

1.85%

371,000

Blackstone

Private

Credit

Fund,

3.25%,

3/15/27

360,730

268,000

Blue

Owl

Technology

Finance

Corp.,

6.10%,

3/15/28

(a) 269,452

139,000

Ares

Strategic

Income

Fund,

5.45%,

9/09/28

(a) 139,068

769,250

AUTOMOTIVE

—

1.56%

419,000

Hyundai

Capital

America,

5.25%,

1/08/27

(a) 422,897

225,000

Ford

Motor

Credit

Co.

LLC,

5.80%,

3/05/27

226,775

649,672

BANKING

—

3.77%

325,000

Nordea

Bank

Abp,

4.38%,

3/17/28

(a) 327,766

325,000

Citigroup

Inc.,

4.64%,

5/07/28

(SOFRRATE

+

114.30 bps)

325,861

250,000

Manufacturers

&

Traders

Trust

Co,

4.76%,

7/06/28

251,735

200,000

Standard

Chartered

PLC,

5.55%,

1/21/29

(H15T1Y

+

bps)

(a) 204,288

450,000

Bank

of

America

Corp.,

4.98%,

1/24/29

(SOFRRATE

+

bps)

456,418

1,566,068

BANKS

—

9.34%

414,000

Macquarie

Bank

Ltd.,

5.39%,

12/07/26

(a) 421,064

342,000

Bank

of

Montreal,

5.37%,

6/04/27

349,271

400,000

National

Australia

Bank

Ltd/New

York,

5.09%,

6/11/27

407,501

345,000

Lloyds

Banking

Group

PLC,

5.99%,

8/07/27

350,230

310,000

ING

Groep

N.V.,

6.08%,

9/11/27

315,694

300,000

Danske

Bank

A/S,

5.43%,

3/01/28

(a) 305,179

528,000

Morgan

Stanley,

5.56%,

4/13/28

539,722

497,000

JPMorgan

Chase

&

Co.,

5.57%,

4/22/28

507,197

350,000

Bank

of

Nova

Scotia

(The),

4.40%,

9/08/28

(SOFR

+

bps)

350,594

339,000

Barclays

PLC,

4.84%,

9/10/28

(SOFR

+

bps)

341,617

3,888,069

Sterling

Capital

Short

Duration

Bond

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

BIOTECH

&

PHARMA

—

0.60%

$

247,000

Eli

Lilly

&

Co.,

4.55%,

2/12/28

$

250,256

CAPITAL

MARKETS

—

1.55%

237,000

Brightsphere

Investment

Group,

Inc.,

4.80%,

7/27/26

(b) 236,647

400,000

Blackstone

Secured

Lending

Fund,

5.88%,

11/15/27

408,289

644,936

CHEMICALS

—

0.21%

85,000

Ecolab

Inc.,

4.30%,

6/15/28

85,592

COMMERCIAL

SERVICES

&

SUPPLIES

—

0.83%

339,000

Element

Fleet

Management

Corp.,

5.64%,

3/13/27

(a) 344,272

COMMERCIAL

SUPPORT

SERVICES

—

0.52%

216,000

Prime

Security

Services

Borrower

LLC,

5.75%,

4/15/26

(a) 217,120

CONSUMER

FINANCE

—

0.96%

396,000

American

Express

Co.,

5.10%,

2/16/28

400,485

DIVERSIFIED

FINANCIAL

SERVICES

—

0.69%

283,000

National

Rural

Utilities

Cooperative

Finance

Corp.,

5.60%,

11/13/26

287,758

ELECTRIC

UTILITIES

—

4.01%

126,000

Vistra

Operations

Co.

LLC,

5.05%,

12/30/26

(a) 126,616

380,000

Duke

Energy

Corp.,

4.85%,

1/05/27

(b) 383,748

133,000

Georgia

Power

Co.,

5.00%,

2/23/27

134,878

400,000

FirstEnergy

Corp.,

3.90%,

7/15/27

395,516

350,000

Entergy

Louisiana

LLC,

3.25%,

4/01/28

341,775

281,000

Dominion

Energy

Inc.,

4.60%,

5/15/28

282,851

1,665,384

FOOD

—

0.82%

337,000

Mars,

Inc.,

4.60%,

3/01/28

(a) 339,739

FORESTRY,

PAPER

&

WOOD

PRODUCTS

—

0.21%

85,000

Georgia-Pacific

LLC,

4.40%,

6/30/28

(a) 85,426

HOME

CONSTRUCTION

—

0.82%

335,000

Meritage

Homes

Corp.,

5.13%,

6/06/27

338,822

HOTELS,

RESTAURANTS

&

LEISURE

—

0.76%

315,000

Carnival

Corp.,

5.75%,

3/01/27

(a) 317,601

INSTITUTIONAL

FINANCIAL

SERVICES

—

1.02%

70,000

LPL

Holdings,

Inc.,

5.70%,

5/20/27

71,311

Sterling

Capital

Short

Duration

Bond

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

INSTITUTIONAL

FINANCIAL

SERVICES

—

(continued)

$

350,000

Sumitomo

Mitsui

Trust

Bank

Ltd.,

4.45%,

9/10/27

(a) $

351,372

422,683

INSURANCE

—

4.91%

439,000

SBL

Holdings,

Inc.,

5.13%,

11/13/26

(a) 435,227

322,000

Jackson

National

Life

Global

Funding,

4.90%,

1/13/27

(a) 324,224

400,000

F&G

Global

Funding,

5.88%,

6/10/27

(a) 408,828

425,000

Athene

Global

Funding,

5.35%,

7/09/27

(a) 431,599

345,000

GA

Global

Funding

Trust,

4.40%,

9/23/27

(a) 344,320

96,000

Sammons

Financial

Group

Global

Funding,

5.05%,

1/10/28

(a) 97,409

2,041,607

LEISURE

FACILITIES

&

SERVICES

—

0.71%

292,000

Starbucks

Corp,

4.50%,

5/15/28

293,459

MACHINERY

—

0.60%

246,000

John

Deere

Capital

Corp,

4.25%,

6/05/28

247,455

METALS

&

MINING

—

0.35%

146,000

Rio

Tinto

Finance

USA

PLC,

4.50%,

3/14/28

147,150

MORTGAGE

REAL

ESTATE

INVESTMENT

-TRUSTS

(REITS)

—

1.16%

489,000

Starwood

Property

Trust,

Inc.,

3.63%,

7/15/26

(a) 480,690

MULTI-UTILITIES

—

0.90%

390,000

Ameren

Corp.,

1.95%,

3/15/27

375,893

OIL

&

GAS

PRODUCERS

—

3.10%

333,000

Permian

Resources

Operating

LLC,

8.00%,

4/15/27

(a) 340,458

340,000

APA

Corp.,

4.88%,

11/15/27

(a) 337,895

275,000

ONEOK

Inc.,

5.63%,

1/15/28

(a) 281,130

327,000

Woodside

Finance

Ltd.,

4.90%,

5/19/28

329,204

1,288,687

OIL,

GAS

&

CONSUMABLE

FUELS

—

0.27%

109,000

Diamondback

Energy,

Inc.,

5.20%,

4/18/27

110,489

REIT

—

2.96%

425,000

Brixmor

Operating

Partnership

LP,

3.90%,

3/15/27

421,322

245,000

Global

Net

Lease

Operating

Partnership

LP,

3.75%,

12/15/27

(a) 233,981

256,000

LXP

Industrial

Trust,

6.75%,

11/15/28

270,996

325,000

CubeSmart

LP,

2.25%,

12/15/28

302,784

Sterling

Capital

Short

Duration

Bond

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

REIT

—

(continued)

$

1,229,083

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

—

0.54%

$

220,000

Broadcom,

Inc.,

5.05%,

7/12/27

223,112

SOFTWARE

—

0.76%

312,000

Synopsys,

Inc.,

4.65%,

4/01/28

315,176

SPECIALTY

FINANCE

—

2.74%

248,000

OneMain

Finance

Corp.,

3.50%,

1/15/27

242,794

450,000

AerCap

Ireland

Capital

DAC,

6.10%,

1/15/27

459,987

325,000

Ladder

Capital

Finance

Holdings

LLLP,

4.25%,

2/01/27

(FIXED)

(a) 320,419

113,000

Avolon

Holdings

Funding

Ltd.,

4.95%,

1/15/28

(a) 113,590

1,136,790

TECHNOLOGY

HARDWARE

—

0.73%

300,000

Motorola

Solutions

Inc.,

4.60%,

2/23/28

302,191

TECHNOLOGY

SERVICES

—

0.71%

292,000

Fiserv,

Inc.,

5.15%,

3/15/27

295,813

TELECOMMUNICATIONS

—

0.61%

250,250

Sprint

Spectrum

Co.

LLC

/

Sprint

Spectrum

Co.

II

LLC,

5.15%,

3/20/28

(a) 251,966

TOBACCO

&

CANNABIS

—

0.71%

295,000

Philip

Morris

International

Inc.,

4.13%,

4/28/28

294,423

TRANSPORTATION

&

LOGISTICS

—

1.70%

258,000

United

Airlines,

Inc.,

4.38%,

4/15/26

(a) 256,294

150,000

Delta

Air

Lines

Inc.,

4.95%,

7/10/28

150,857

300,000

Delta

Air

Lines,

Inc.

/

SkyMiles

IP

Ltd.,

4.75%,

10/20/28

(a) 300,696

707,847

Total

(Cost $23,054,165)

23,346,637

Principal

Amount

Fair

Value

ASSET

BACKED

SECURITIES

—

27.58%

176,710

OneMain

Direct

Auto

Receivables

Trust,

Series

1A,

Class

A,

3.63%,

9/14/27

(a) 176,116

240,000

Americredit

Automobile

Receivables

Trust,

Series

1,

Class

C,

2.98%,

9/20/27

237,038

588,000

Hertz

Vehicle

Financing

III

LP,

Series

2A

,

Class

A,

1.68%,

12/27/27

(a) 565,346

Sterling

Capital

Short

Duration

Bond

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

ASSET

BACKED

SECURITIES

—

(continued)

$

300,000

Avis

Budget

Rental

Car

Funding

AESOP

LLC,

Series

3A

,

Class

A,

5.44%,

2/22/28

(a) $

303,736

545,000

AmeriCredit

Automobile

Receivables

Trust,

Series

,

Class

C,

5.32%,

4/18/28

548,832

200,000

BANK5

Trust,

Series

2024-5YR5

,

6.27%,

2/15/29

208,407

500,000

PFS

Financing

Corp.,

Series

D

,

Class

A,

5.34%,

4/16/29

(a) 508,558

220,000

Avis

Budget

Rental

Car

Funding

AESOP

LLC,

Series

1A

,

Class

A,

4.80%,

8/20/29

(a) 222,421

683,000

Enterprise

Fleet

Financing,

Series

,

Class

A3,

5.42%,

10/22/29

(a) 691,562

392,000

OneMain

Direct

Auto

Receivables

Trust,

Series

1A

,

Class

A,

5.41%,

11/14/29

(a) 395,624

375,331

Dryden

Senior

Loan

Fund,

Series

50A

,

Class

A1R,

5.52%,

7/15/30

((TSFR3M

+

26.20 bps)

+

bps)

(a)(c) 375,361

270,000

Dryden

CLO

Ltd.,

Series

53A

,

Class

BR,

–%,

1/15/31

(a)(d) 270,000

450,000

Santander

Drive

Auto

Receivables

Trust,

Series

2025-2

,

4.87%,

5/15/31

454,830

226,248

ARI

Fleet

Lease

Trust,

Series

B

,

Class

A2,

6.05%,

7/15/32

(a) 228,057

424,000

Affirm

Master

Trust,

Series

1A

,

Class

A,

4.99%,

2/15/33

(a) 427,256

290,000

Goldentree

Loan

Management

US

Clo

Ltd.,

Series

7A

,

Class

ARR,

5.37%,

4/20/34

(a) 290,090

275,000

Magnetite

XXXI

Ltd.

,

Class

A1,

5.62%,

7/15/34

(a) 275,044

500,000

Peace

Park

CLO

Ltd.,

Series

1A

,

Class

A,

5.66%,

10/20/34

(a) 500,085

296,678

Fannie

Mae

,

6.75%,

7/01/36

(H15T1Y

+

219.40 bps)

305,162

364,337

BX

Trust,

Series

2021-RISE

,

Class

C,

5.88%,

11/15/36

(a) 363,431

351,224

Hilton

Grand

Vacations

Trust,

Series

2024-3A

,

Class

A,

4.98%,

8/27/40

(a) 354,690

285,220

Sierra

Timeshare

Receivables

Funding

LLC,

Series

2024-2A

,

Class

A,

5.14%,

6/20/41

(a) 287,480

159,791

Sierra

Timeshare

Receivables

Funding

LLC,

Series

3A,

Class

A,

4.83%,

8/20/41

(a) 160,398

528,092

Tricon

Residential

Trust,

Series

2025-SFR

,

Class

A,

5.43%,

3/17/42

(TSFR1M

+

bps)

(a) 528,174

459,955

MVW

LLC,

Series

2024-2

,

Class

A,

4.43%,

3/20/42

(a) 458,863

364,244

HINNT

LLC,

Series

2025-A

,

Class

A,

5.01%,

3/15/44

(a) 367,492

357,000

Morgan

Stanley

Bank

of

America,

Series

C31

,

Class

A5,

3.10%,

11/15/49

347,436

Sterling

Capital

Short

Duration

Bond

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

ASSET

BACKED

SECURITIES

—

(continued)

$

432,268

SMB

Private

Education

Loan

Trust,

Series

2021-B

,

Class

A,

1.31%,

7/17/51

(a)(b) $

405,212

381,191

Navient

Refinance

Loan

Trust,

Series

A

,

Class

A,

5.15%,

2/16/55

(a) 385,361

75,000

Benchmark

Mortgage

Trust,

Series

2023-V2

,

Class

A3,

5.81%,

5/15/55

(c) 77,381

228,000

BMO

Mortgage

Trust,

Series

2023-5C1

,

7.12%,

8/15/56

241,837

100,000

BANK5

Trust,

Series

2023-5YR3

,

Class

AS,

7.32%,

9/15/56

(c) 106,912

444,352

Navient

Private

Education

Refi

Loan

Trust,

Series

2021-F

,

1.11%,

2/18/70

(a) 393,486

Total

(Cost $11,377,387)

11,461,678

Principal

Amount

Fair

Value

COMMERCIAL

MORTGAGE-BACKED

SECURITIES

—

5.26%

394,041

ELP

Commercial

Mortgage

Trust,

Series

2021-ELP,

Class

C,

5.75%,

11/15/38

(a) 393,549

85,730

BX

Commercial

Mortgage

Trust,

Series

2021-ACNT,

Class

C,

5.93%,

11/15/38

(a) 85,623

287,204

BX

Commercial

Mortgage

Trust,

Series

2021-CIP,

Class

B,

5.70%,

12/15/38

(a) 287,025

261,884

SMR

Mortgage

Trust,

Series

2022-IND,

Class

A,

5.96%,

2/15/39

(a) 262,337

1,850

JPMBB

Commercial

Mortgage

Securities

Trust,

Series

2014-C23,

Class

A5,

3.93%,

9/15/47

1,838

30,706

CSAIL

Commercial

Mortgage

Trust,

Series

2015-C3,

Class

A4,

3.72%,

8/15/48

30,585

415,092

CD

Mortgage

Trust,

Series

2016-CD2,

Class

A4,

3.53%,

11/10/49

(c) 400,750

410,000

CD

Mortgage

Trust,

Series

2017-CD3,

Class

A4,

3.63%,

2/10/50

394,625

225,000

JPMCC

Commercial

Mortgage

Securities

Trust,

Series

JP5,

Class

A5,

3.72%,

3/15/50

221,459

100,000

BANK5

Trust,

Series

2023-5YR4,

Class

AS,

7.27%,

12/15/56

(c) 107,015

Total

(Cost $2,158,815)

2,184,806

Principal

Amount

Fair

Value

COLLATERALIZED

MORTGAGE

OBLIGATIONS

—

4.34%

9,346

Fannie

Mae,

Series

72,

Class

NA,

2.50%,

8/25/42

9,235

297,974

Fannie

Mae,

Series

35,

Class

CB,

2.00%,

2/25/43

288,495

177,844

Fannie

Mae,

Series

100,

Class

DA,

3.00%,

2/25/43

173,592

66,022

Fannie

Mae,

Series

71,

Class

PD,

2.50%,

3/25/43

65,459

Sterling

Capital

Short

Duration

Bond

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

COLLATERALIZED

MORTGAGE

OBLIGATIONS

—

(continued)

192,370

Freddie

Mac,

Series

4828,

Class

QA,

3.50%,

3/15/47

189,720

563,934

Chase

Home

Lending

Mortgage

Trust,

Series

2019-

ATR2,

Class

A3,

3.50%,

8/25/49

(a) 511,820

150,000

CSAIL

Commercial

Mortgage

Trust,

Series

2015-C7,

Class

A5,

3.50%,

11/15/49

147,685

400,000

Benchmark

Mortgage

Trust,

Series

2023-V3,

Class

A3,

6.36%,

7/15/56

(c) 419,244

Total

(Cost $1,882,265)

$

1,805,250

Principal

Amount

Fair

Value

MUNICIPAL

BONDS

—

0.23%

New

York

—

0.23%

$

95,000

City

of

New

York

NY

,

4.67 %,

2/1/28

96,223

Total

(Cost $95,000)

96,223

Principal

Amount

Fair

Value

U.S.

TREASURY

BONDS

&

NOTES

—

4.73%

424,400

United

States

Treasury

Note,

4.13 %

,

11/15/27

428,329

1,575,000

United

States

Treasury

Note,

2.75 %

,

2/15/28

1,537,532

Total

(Cost $1,952,242)

1,965,861

Shares

Fair

Value

MONEY

MARKET

FUNDS

—

2.03%

844,848

Federated

Hermes

Treasury

Obligations

Fund,

Institutional

Shares,

4.18%

(e) 844,848

Total

Money

Market

Funds

(Cost

$844,848)

844,848

Total

Investments—

100.39%

(Cost

$41,384,722)

41,725,303

Liabilities

in

Excess

of

Other

Assets

—

(0.39)%

(162,727)

NET

ASSETS

—

100.00%

$

41,562,576

(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) 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

June

30,

2025

is

$1,025,606,

which

represents

2.5%

of

net

assets.

(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

June

30,

2025. The

maturity

date

reflected

is

the

final

maturity

date.

Sterling

Capital

Short

Duration

Bond

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

(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

Intermediate

U.S.

Government

Fund

Schedule

of

Investments

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

ASSET

BACKED

SECURITIES

—

5.39%

$

100,000

BANK5

Trust,

Series

2024-5YR5

,

6.27%,

2/15/29

$

104,204

183,000

Avis

Budget

Rental

Car

Funding

AESOP

LLC,

Series

2023-1A

,

Class

A,

5.36%,

6/20/30

(a) 187,765

148,063

Fannie

Mae-Aces,

Series

M1

,

Class

1A3,

3.43%,

1/25/33

138,764

100,000

BANK

Trust,

Series

2024-BNK48

,

Class

A5,

5.05%,

9/15/34

100,486

62,689

United

States

Small

Business

Administration,

Series

2015-20G

,

Class

1,

2.88%,

7/01/35

(b) 58,846

26,000

BMO

Mortgage

Trust,

Series

2023-5C1

,

7.12%,

8/15/56

27,578

150,000

BANK5

Trust,

Series

2023-5YR3

,

Class

AS,

7.32%,

9/15/56

(c) 160,367

150,000

BANK5

Trust,

Series

2024-5YR6

,

Class

A3,

6.23%,

5/15/57

157,921

100,000

BANK5

Trust,

Series

2024-5YR6

,

Class

AS,

6.79%,

5/15/57

(c) 106,140

Total

(Cost $1,031,667)

1,042,071

Principal

Amount

Fair

Value

MORTGAGE-BACKED

SECURITIES

—

32.72%

Fannie

Mae

—

20.31%

133,647

4.00%,

12/01/33,

Pool

#MA1689

132,269

34,506

4.00%,

12/01/36,

Pool

#MA2856

34,072

32,481

4.00%,

2/01/37,

Pool

#MA2914

32,078

330,691

1.50%,

12/01/40,

Pool

#MA4202

274,903

107,702

6.00%,

9/01/43,

Pool

#MA5158

110,143

29,969

4.00%,

5/01/47,

Pool

#BE9598

28,133

97,196

3.50%,

12/01/47,

Pool

#CA0833

89,032

43,166

5.00%,

8/01/48,

Pool

#CA2219

43,115

43,601

3.50%,

9/01/49,

Pool

#BJ9608

39,718

50,864

3.50%,

10/01/49,

Pool

#CA4431

46,258

78,224

3.00%,

3/01/50,

Pool

#FM2714

68,498

173,423

3.00%,

7/01/50,

Pool

#CA6421

150,849

180,357

3.00%,

7/01/50,

Pool

#CA6422

156,871

145,635

2.00%,

8/01/50,

Pool

#CA6799

116,951

162,496

2.50%,

8/01/50,

Pool

#CA6707

137,558

224,778

2.00%,

9/01/50,

Pool

#CA7019

180,258

259,523

2.50%,

9/01/50,

Pool

#BQ2883

217,245

120,439

2.50%,

9/01/50,

Pool

#BQ0538

100,806

Sterling

Capital

Intermediate

U.S.

Government

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

MORTGAGE-BACKED

SECURITIES

—

(continued)

Fannie

Mae

—

(continued)

400,862

3.50%,

9/01/50,

Pool

#FS5284

364,526

321,390

2.00%,

10/01/50,

Pool

#CA7224

257,215

255,096

2.50%,

10/01/50,

Pool

#FM4638

213,538

235,600

2.50%,

10/01/50,

Pool

#FM4530

197,289

162,663

4.00%,

7/01/52,

Pool

#FS2516

151,690

380,472

4.50%,

11/01/52,

Pool

#FS6858

364,593

119,889

5.00%,

11/01/52,

Pool

#CB5278

118,050

286,035

6.00%,

5/01/54,

Pool

#FM2472

293,232

$

3,918,890

Federal

Home

Loan

Banks

—

0.27%

60,000

1.90%,

10/07/31

52,364

—

Freddie

Mac

—

11.57%

80,707

4.00%,

12/01/35,

Pool

#ZA2401

79,786

49,842

4.00%,

3/01/39,

Pool

#ZA6403

48,999

169,550

2.00%,

12/01/40,

Pool

#RB5090

146,343

110,988

3.50%,

1/01/47,

Pool

#ZT0941

101,637

82,449

3.00%,

12/01/51,

Pool

#SD8184

71,995

101,688

3.50%,

6/01/52,

Pool

#SD2670

93,218

153,883

4.50%,

6/01/52,

Pool

#SD1265

148,349

156,979

4.50%,

8/01/52,

Pool

#SD1515

150,984

233,247

5.00%,

9/01/52,

Pool

#RA7936

230,814

161,484

4.00%,

2/01/53,

Pool

#SD7560

152,128

145,537

5.50%,

2/01/53,

Pool

#QF8052

146,436

165,839

5.00%,

3/01/53,

Pool

#SD2390

163,401

83,607

6.00%,

5/01/53,

Pool

#SD3072

85,656

140,344

6.00%,

7/01/53,

Pool

#SD3223

143,747

181,011

5.50%,

6/01/54,

Pool

#SD5479

181,885

286,507

6.00%,

9/01/54,

Pool

#SD6337

293,135

2,238,513

Ginnie

Mae

II

—

0.57%

24,471

5.00%,

11/20/38,

Pool

#4283

24,200

90,436

4.00%,

7/20/52,

Pool

#786280

84,393

108,593

Total

(Cost $6,868,118)

6,318,360

Sterling

Capital

Intermediate

U.S.

Government

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

U.S.

GOVERNMENT

&

AGENCIES

—

1.79%

174,389

Fannie

Mae

Pool,

5.50 %

,

2/01/54

175,134

169,840

Fannie

Mae

Pool,

5.50 %

,

11/01/54

170,317

Total

(Cost $341,167)

$

345,451

Principal

Amount

Fair

Value

COLLATERALIZED

MORTGAGE

OBLIGATIONS

—

21.53%

109,875

Freddie

Mac,

Series

3787,

Class

LM,

4.00%,

1/15/31

109,763

57,922

Freddie

Mac,

Series

4151,

Class

PA,

2.00%,

1/15/33

55,005

175,000

Freddie

Mac,

Series

4172,

Class

KB,

3.00%,

2/15/33

163,589

215,402

Ginnie

Mae,

Series

181,

Class

AV,

5.50%,

2/20/33

221,176

61,071

Fannie

Mae,

Series

2013-44,

Class

DJ,

1.85%,

5/25/33

56,994

24,569

Fannie

Mae,

Series

2003-44,

Class

Q,

3.50%,

6/25/33

24,051

150,134

Ginnie

Mae,

Series

2023-79,

Class

DV,

5.50%,

5/20/34

152,764

91,839

Fannie

Mae,

Series

2005-31,

Class

PB,

5.50%,

4/25/35

94,616

33,702

Ginnie

Mae,

Series

2013-133,

Class

PL,

3.50%,

2/16/37

33,179

506,030

Fannie

Mae-Aces,

Series

M1,

Class

2A1,

3.94%,

12/25/37

492,330

141,409

Freddie

Mac,

Series

4863,

Class

AJ,

3.50%,

7/15/38

137,108

52,434

Freddie

Mac,

Series

4122,

Class

BC,

3.00%,

5/15/40

49,942

142,714

Ginnie

Mae,

Series

137,

Class

WA,

5.59%,

7/20/40

147,538

150,000

Ginnie

Mae,

Series

81,

Class

AL,

4.50%,

8/20/40

148,070

100,000

Progress

Residential

Trust,

Series

SFR1,

Class

A,

3.40%,

2/17/42

(a) 94,749

164,057

Fannie

Mae,

Series

2012-87,

Class

MB,

2.00%,

5/25/42

154,620

16,458

Fannie

Mae,

Series

2016-49,

Class

DA,

3.50%,

10/25/42

16,357

116,308

Fannie

Mae,

Series

2012-150,

Class

KA,

1.75%,

1/25/43

97,785

141,064

Freddie

Mac,

Series

4173,

Class

NB,

3.00%,

3/15/43

129,341

315,000

Freddie

Mac,

Series

4669,

Class

QY,

3.50%,

9/15/44

306,379

39,141

Ginnie

Mae,

Series

2015-162,

Class

EB,

2.50%,

9/20/44

37,071

331,853

Freddie

Mac,

Series

4601,

Class

NJ,

1.90%,

9/15/45

296,076

147,421

Fannie

Mae,

Series

2016-49,

Class

PA,

3.00%,

9/25/45

139,653

88,568

Freddie

Mac,

Series

4656,

Class

PA,

3.50%,

10/15/45

86,424

123,415

Fannie

Mae,

Series

2016-24,

Class

CD,

1.75%,

2/25/46

104,770

188,282

Fannie

Mae,

Series

2016-88,

Class

PK,

2.50%,

3/25/46

173,440

84,885

Freddie

Mac,

Series

5380,

Class

A,

5.50%,

9/25/47

85,386

Sterling

Capital

Intermediate

U.S.

Government

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

COLLATERALIZED

MORTGAGE

OBLIGATIONS

—

(continued)

224,895

Fannie

Mae,

Series

2019-25,

Class

PD,

2.50%,

5/25/48

202,641

187,121

Freddie

Mac,

Series

4942,

Class

NC,

2.50%,

10/25/49

163,344

189,714

Ginnie

Mae,

Series

2022-137,

Class

PA,

4.00%,

5/20/52

185,711

Total

(Cost $4,261,034)

$

4,159,872

Principal

Amount

Fair

Value

COMMERCIAL

MORTGAGE-BACKED

SECURITIES

—

12.64%

19,029

Freddie

Mac

Multifamily

Structured

Pass

Through,

Series

K049,

Class

A2,

3.01%,

7/25/25

18,971

262,178

Fannie

Mae-Aces,

Series

2015-M17,

Class

A2,

2.92%,

11/25/25

260,914

210,000

Freddie

Mac

Multifamily

Structured

Pass

Through,

Series

K060,

Class

A2,

3.30%,

10/25/26

207,292

481,436

Freddie

Mac

Multifamily

Structured

Pass

Through,

Series

K061,

Class

A2,

3.35%,

11/25/26

475,800

360,260

Fannie

Mae-Aces,

Series

2017-M7,

Class

A2,

2.96%,

2/25/27

353,363

191,514

Fannie

Mae-Aces,

Series

2017-M8,

Class

A2,

3.06%,

5/25/27

187,839

125,000

Freddie

Mac

Multifamily

Structured

Pass

Through,

Series

K066,

Class

A2,

3.12%,

6/25/27

(Special

footnote)

122,787

171,739

Freddie

Mac

Multifamily

Structured

Pass

Through,

Series

K069,

Class

A2,

3.19%,

9/25/27

168,560

275,000

Freddie

Mac

Multifamily

Structured

Pass

Through,

Series

K079,

Class

A2,

3.93%,

6/25/28

274,157

378,493

Fannie

Mae-Aces,

Series

2018-M10,

Class

A2,

3.36%,

7/25/28

371,196

1,541

JPMBB

Commercial

Mortgage

Securities

Trust,

Series

2014-C23,

Class

A5,

3.93%,

9/15/47

1,531

Total

(Cost $2,491,260)

2,442,410

Principal

Amount

Fair

Value

U.S.

GOVERNMENT

AGENCIES

—

0.36%

86,000

Federal

Farm

Credit

Banks

Funding

Corp.,

2.40 %

,

3/24/36

69,199

Total

(Cost $70,163)

69,199

Principal

Amount

Fair

Value

MUNICIPAL

BONDS

—

0.21%

Wisconsin

—

0.21%

$

40,000

State

of

Wisconsin,

TXB,

Revenue

Bonds,

Pension

Fundings

Series

A,

(AGM)

,

5.70 %,

5/1/26

(b) 40,478

Total

(Cost $40,448)

40,478

Sterling

Capital

Intermediate

U.S.

Government

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

U.S.

TREASURY

BONDS

&

NOTES

—

24.33%

1,350,000

United

States

Treasury

Strip

Coupon,

0.00 %

,

5/15/29

1,165,866

220,000

United

States

Treasury

Note,

0.63 %

,

8/15/30

187,627

1,150,200

United

States

Treasury

Note,

1.13 %

,

2/15/31

(b) 995,193

1,750,000

United

States

Treasury

Note,

2.75 %

,

8/15/32

(b) 1,614,375

1,000,000

United

States

Treasury

Strip

Coupon,

0.00 %

,

11/15/32

737,205

Total

(Cost $4,706,142)

$

4,700,266

Shares

Fair

Value

MONEY

MARKET

FUNDS

—

0.68%

132,270

Federated

Hermes

Treasury

Obligations

Fund,

Institutional

Shares,

4.18%

(d) 132,270

Total

Money

Market

Funds

(Cost

$132,270)

132,270

Total

Investments—

99.65%

(Cost

$19,942,269)

19,250,377

Other

Assets

in

Excess

of

Liabilities

—

0.35%

66,984

NET

ASSETS

—

100.00%

$

19,317,361

(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) 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

June

30,

2025

is

$536,755,

which

represents

2.8%

of

net

assets.

(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

June

30,

2025. The

maturity

date

reflected

is

the

final

maturity

date.

(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

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

20.15%

AEROSPACE

&

DEFENSE

—

0.67%

$

2,190,000

BAE

Systems

PLC,

5.13%,

3/26/29

(a) $

2,244,719

1,741,000

Boeing

Co.

(The),

6.30%,

5/01/29

1,840,501

860,000

Howmet

Aerospace,

Inc.,

5.95%,

2/01/37

913,133

2,483,000

Boeing

Co.

(The),

5.71%,

5/01/40

2,453,052

2,847,000

RTX

Corp.,

4.50%,

6/01/42

2,519,949

9,971,354

ASSET

MANAGEMENT

—

0.10%

1,540,000

Ares

Finance

Co.

III

LLC,

4.13%,

6/30/51

(H15T5Y

+

323.70 bps)

(a)(b) 1,504,178

AUTOMOTIVE

—

0.05%

670,000

Hyundai

Capital

America,

5.40%,

6/23/32

(a) 678,581

BANKING

—

0.48%

2,421,000

Mitsubishi

UFJ

Financial

Group

Inc.,

2.49%,

10/13/32

(H15T1Y

+

bps)

(b) 2,118,048

1,923,000

US

Bancorp,

4.84%,

2/01/34

(b) 1,898,808

3,008,000

Bank

of

America

Corp.,

5.74%,

2/12/36

(SOFRRATE

+

169.70 bps)

(b) 3,056,543

7,073,399

BANKS

—

3.59%

3,825,000

Macquarie

Group

Ltd.,

1.34%,

1/12/27

(SOFR

+

bps)

(a)(b) 3,760,806

2,993,000

Fifth

Third

Bancorp,

4.06%,

4/25/28

(b) 2,973,603

3,024,000

Wells

Fargo

&

Co.,

MTN,

4.81%,

7/25/28

(b) 3,049,492

5,893,000

Bank

of

America

Corp.,

3.42%,

12/20/28

(b) 5,760,312

2,070,000

Huntington

Bancshares,

Inc.,

6.21%,

8/21/29

(b) 2,172,087

1,547,000

KeyCorp,

2.55%,

10/01/29

1,428,414

5,122,000

JPMorgan

Chase

&

Co.,

5.01%,

1/23/30

(b) 5,216,537

1,546,000

Citizens

Financial

Group,

Inc.,

5.84%,

1/23/30

(b) 1,601,257

1,604,000

Comerica,

Inc.,

5.98%,

1/30/30

(SOFR

+

215.50 bps)

(b) 1,642,964

3,042,000

Sumitomo

Mitsui

Financial

Group,

Inc.,

2.13%,

7/08/30

2,718,048

3,721,000

Wells

Fargo

&

Co.,

2.88%,

10/30/30

(b) 3,476,646

6,530,000

Citigroup,

Inc.,

2.98%,

11/05/30

(b) 6,109,202

3,715,000

Toronto-Dominion

Bank

(The),

3.63%,

9/15/31

(USSW5

+

220.50 bps)

(b) 3,672,559

4,120,000

Westpac

Banking

Corp.,

GMTN,

4.32%,

11/23/31

(USISOA05

+

bps)

(b) 4,092,857

3,490,000

JPMorgan

Chase

&

Co.,

4.91%,

7/25/33

(b) 3,510,205

Sterling

Capital

Total

Return

Bond

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

BANKS

—

(continued)

$

2,046,000

Bank

of

America

Corp.,

5.29%,

4/25/34

(b) $

2,086,989

53,271,978

BEVERAGES

—

0.52%

2,989,000

Constellation

Brands,

Inc.,

4.90%,

5/01/33

2,961,624

2,760,000

Bacardi

Ltd.

/

Bacardi-Martini

BV,

5.40%,

6/15/33

(a) 2,750,732

2,241,000

Anheuser-Busch

InBev

Finance,

Inc.,

4.90%,

2/01/46

2,042,000

7,754,356

BIOTECH

&

PHARMA

—

0.29%

2,151,000

Pfizer

Investment

Enterprises

Pte

Ltd.,

4.65%,

5/19/30

2,180,750

2,233,000

CSL

Finance

PLC,

4.25%,

4/27/32

(a) 2,178,965

4,359,715

BIOTECHNOLOGY

—

0.24%

3,535,000

Amgen,

Inc.,

5.25%,

3/02/30

3,642,400

CABLE

&

SATELLITE

—

0.30%

1,653,000

Charter

Communications

Operating

LLC,

6.10%,

6/01/29

1,730,599

2,584,000

Charter

Communications

Operating

LLC,

6.55%,

6/01/34

2,757,019

4,487,618

CAPITAL

MARKETS

—

1.16%

2,220,000

Blue

Owl

Capital

Corp.,

3.40%,

7/15/26

2,184,330

4,203,000

Morgan

Stanley,

3.59%,

7/22/28

(b) 4,129,431

1,058,000

Ares

Management

Corp.,

6.38%,

11/10/28

1,121,172

1,886,000

Jefferies

Financial

Group,

Inc.,

4.15%,

1/23/30

1,841,997

3,509,000

BlackRock,

Inc.,

1.90%,

1/28/31

(c) 3,087,619

4,787,000

Morgan

Stanley,

MTN,

5.25%,

4/21/34

(b) 4,869,567

17,234,116

CONSUMER

SERVICES

—

0.29%

2,317,000

Duke

University,

3.30%,

10/01/46

1,648,241

3,898,000

Lehigh

University,

3.48%,

11/15/46

2,874,160

4,522,401

DIVERSIFIED

TELECOMMUNICATION

SERVICES

—

0.23%

4,310,000

AT&T,

Inc.,

3.50%,

6/01/41

3,381,045

ELECTRIC

UTILITIES

—

1.73%

3,394,000

NextEra

Energy

Capital

Holdings,

Inc.,

2.44%,

1/15/32

2,944,820

1,835,000

Southern

California

Edison

Co.,

5.95%,

11/01/32

1,883,075

2,804,000

DTE

Electric

Co.,

5.20%,

4/01/33

2,881,033

Sterling

Capital

Total

Return

Bond

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

ELECTRIC

UTILITIES

—

(continued)

$

2,113,000

CenterPoint

Energy

Houston

Electric

LLC,

5.15%,

3/01/34

$

2,131,402

2,305,000

Duke

Energy

Florida

LLC,

6.40%,

6/15/38

2,527,160

3,248,000

Indiana

Michigan

Power

Co.,

4.55%,

3/15/46

2,742,222

3,838,000

Duke

Energy

Progress

LLC,

3.60%,

9/15/47

2,811,685

2,644,000

Puget

Sound

Energy,

Inc.,

4.22%,

6/15/48

2,112,043

2,400,000

Southwestern

Public

Service

Co.,

3.15%,

5/01/50

1,553,955

2,128,000

Entergy

Louisiana

LLC,

5.70%,

3/15/54

2,099,907

1,484,000

Southern

California

Edison

Co.,

5.75%,

4/15/54

1,329,266

647,000

Nevada

Power

Co.,

6.25%,

5/15/55

(H15T5Y

+

193.60 bps)

(b) 643,864

25,660,432

FINANCIAL

SERVICES

—

0.09%

1,550,000

KKR

Group

Finance

Co.

III

LLC,

5.13%,

6/01/44

(a) 1,406,794

FOOD

—

0.40%

3,329,000

Mars,

Inc.,

5.20%,

3/01/35

(a) 3,368,878

2,981,000

Kraft

Heinz

Foods

Co.,

4.88%,

10/01/49

2,559,416

5,928,294

GAS

&

WATER

UTILITIES

—

0.33%

2,505,000

Sempra

Global,

3.25%,

1/15/32

(a) 2,133,650

2,864,000

Southern

Co

Gas

Capital

Corp,

4.95%,

9/15/34

2,834,821

4,968,471

HEALTH

CARE

EQUIPMENT

&

SUPPLIES

—

0.19%

2,691,000

GE

HealthCare

Technologies,

Inc.,

5.86%,

3/15/30

2,842,049

HEALTH

CARE

FACILITIES

&

SERVICES

—

0.44%

1,510,000

IQVIA,

Inc.,

6.25%,

2/01/29

1,578,178

2,601,000

HCA,

Inc.,

5.50%,

6/01/33

2,662,933

2,269,000

CVS

Health

Corp,

6.05%,

6/01/54

2,223,715

6,464,826

HOME

CONSTRUCTION

—

0.10%

1,415,000

DR

Horton

Inc.,

4.85%,

10/15/30

1,427,469

HOUSEHOLD

DURABLES

—

0.10%

1,570,000

Meritage

Homes

Corp.,

3.88%,

4/15/29

(a) 1,512,746

INSURANCE

—

1.68%

2,933,000

SBL

Holdings,

Inc.,

5.13%,

11/13/26

(a) 2,907,785

2,297,000

GA

Global

Funding

Trust,

5.50%,

1/08/29

(a) 2,353,935

Sterling

Capital

Total

Return

Bond

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

INSURANCE

—

(continued)

$

2,313,000

AXIS

Specialty

Finance

LLC,

3.90%,

7/15/29

$

2,246,042

1,794,000

Fortitude

Group

Holdings

LLC,

6.25%,

4/01/30

(a) 1,845,684

583,000

American

International

Group

Inc.,

4.85%,

5/07/30

592,280

1,392,000

RGA

Global

Funding,

5.50%,

1/11/31

(a) 1,435,708

1,654,000

Enstar

Group

Ltd.,

3.10%,

9/01/31

1,470,390

2,765,000

Athene

Holding

Ltd.,

5.88%,

1/15/34

2,863,393

1,456,000

SBL

Holdings,

Inc.,

7.20%,

10/30/34

(a) 1,391,755

1,712,000

Transatlantic

Holdings,

Inc.,

8.00%,

11/30/39

2,150,262

2,904,000

Meiji

Yasuda

Life

Insurance

Co.,

5.20%,

10/20/45

(a)(b) 2,910,895

1,409,000

Corebridge

Financial,

Inc.,

6.38%,

9/15/54

(H15T5Y

+

264.60 bps)

(b) 1,404,322

1,400,000

Athene

Holding

Ltd.,

6.63%,

10/15/54

(b) 1,378,161

24,950,612

INTERACTIVE

MEDIA

&

SERVICES

—

0.15%

2,344,000

Meta

Platforms,

Inc.,

5.40%,

8/15/54

2,285,966

INTERNET

&

DIRECT

MARKETING

RETAIL

—

0.14%

3,517,000

Amazon.com,

Inc.,

2.70%,

6/03/60

(c) 2,019,850

IT

SERVICES

—

0.15%

2,181,000

Gartner,

Inc.,

4.50%,

7/01/28

(a) 2,158,264

MACHINERY

—

0.13%

1,940,000

Caterpillar

Inc.,

5.20%,

5/15/35

1,977,540

METALS

&

MINING

—

0.65%

2,024,000

Anglo

American

Capital

PLC,

5.50%,

5/02/33

(a) 2,064,139

2,330,000

Steel

Dynamics,

Inc.,

5.38%,

8/15/34

2,365,879

2,682,000

Glencore

Funding

LLC,

5.67%,

4/01/35

(a) 2,736,069

2,722,000

Freeport-McMoRan

Inc.,

5.45%,

3/15/43

2,572,332

9,738,419

MULTI-UTILITIES

—

0.29%

2,638,000

Sempra,

3.80%,

2/01/38

2,182,928

2,449,000

CMS

Energy

Corp.,

4.70%,

3/31/43

2,120,642

4,303,570

OIL

&

GAS

PRODUCERS

—

0.47%

1,464,000

Antero

Resources

Corp.,

5.38%,

3/01/30

(a) 1,473,367

1,755,000

Energy

Transfer

LP,

3.75%,

5/15/30

1,683,850

2,202,000

Woodside

Finance

Ltd.,

6.00%,

5/19/35

2,247,667

Sterling

Capital

Total

Return

Bond

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

OIL

&

GAS

PRODUCERS

—

(continued)

$

1,849,000

APA

Corp.,

5.10%,

9/01/40

(a) $

1,550,714

6,955,598

OIL,

GAS

&

CONSUMABLE

FUELS

—

0.93%

3,421,000

Aker

BP

ASA,

3.75%,

1/15/30

(a) 3,257,520

2,525,000

Pioneer

Natural

Resources

Co.,

1.90%,

8/15/30

2,238,129

1,981,000

Targa

Resources

Corp.,

6.50%,

3/30/34

2,128,795

2,030,000

Diamondback

Energy,

Inc.,

5.40%,

4/18/34

2,036,007

2,393,000

MPLX

LP,

4.50%,

4/15/38

2,116,432

1,961,000

ONEOK,

Inc.,

7.15%,

1/15/51

2,111,781

13,888,664

REIT

—

1.00%

3,279,000

American

Tower

Trust,

Series

2018-1,

Class

A,

3.65%,

3/15/28

(a)(c) 3,203,309

2,070,000

LXP

Industrial

Trust,

2.70%,

9/15/30

1,855,007

3,096,000

Store

Capital

LLC,

2.75%,

11/18/30

2,728,357

1,479,000

Tanger

Properties

LP,

2.75%,

9/01/31

1,296,946

1,625,000

Invitation

Homes

Operating

Partnership

LP,

4.15%,

4/15/32

1,538,229

2,085,000

Prologis

Targeted

US

Logistics

Fund

LP,

5.50%,

4/01/34

(a) 2,128,870

2,260,000

Phillips

Edison

Grocery

Center,

4.95%,

1/15/35

2,188,522

14,939,240

RETAIL

-

DISCRETIONARY

—

0.29%

2,181,000

O'Reilly

Automotive

Inc.,

4.20%,

4/01/30

2,158,872

2,430,000

Lowe's

Cos

Inc.,

1.70%,

10/15/30

2,115,288

4,274,160

SEMICONDUCTORS

—

0.50%

1,352,000

Microchip

Technology

Inc.,

5.05%,

2/15/30

1,371,499

3,362,000

Foundry

JV

Holdco

LLC,

6.15%,

1/25/32

(a) 3,537,639

2,465,000

Intel

Corp.,

5.20%,

2/10/33

2,485,838

7,394,976

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

—

0.21%

3,323,000

Broadcom,

Inc.,

4.93%,

5/15/37

(a) 3,225,051

SOFTWARE

—

0.18%

2,639,000

Oracle

Corp.,

6.13%,

8/03/65

2,641,660

SPECIALTY

FINANCE

—

0.28%

1,322,000

AerCap

Ireland

Capital

DAC,

6.15%,

9/30/30

1,409,816

Sterling

Capital

Total

Return

Bond

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

SPECIALTY

FINANCE

—

(continued)

$

1,691,000

Ladder

Capital

Finance

Holdings

LLLP,

7.00%,

7/15/31

(a) $

—

2,695,000

American

Express

Co.,

5.44%,

1/30/36

(SOFRINDX

+

bps)

2,751,076

4,160,892

TECHNOLOGY

HARDWARE

—

0.32%

2,344,000

Motorola

Solutions

Inc.,

4.85%,

8/15/30

2,369,255

2,390,000

Dell

International

LLC

/

EMC

Corp.,

5.50%,

4/01/35

2,413,767

4,783,022

TECHNOLOGY

SERVICES

—

0.30%

2,580,000

Kyndryl

Holdings,

Inc.,

3.15%,

10/15/31

2,330,011

2,176,000

Verisk

Analytics,

Inc.,

5.25%,

3/15/35

2,188,324

4,518,335

TELECOMMUNICATIONS

—

0.56%

2,409,000

AT&T,

Inc.,

4.30%,

2/15/30

2,401,163

2,330,000

Sprint

Capital

Corp.,

8.75%,

3/15/32

2,826,500

3,007,000

T-Mobile

USA,

Inc.,

6.00%,

6/15/54

3,061,010

8,288,673

TOBACCO

&

CANNABIS

—

0.32%

2,166,000

Philip

Morris

International,

Inc.,

5.13%,

2/15/30

2,228,437

2,347,000

BAT

Capital

Corp.,

6.42%,

8/02/33

2,548,891

4,777,328

TRANSPORTATION

&

LOGISTICS

—

0.30%

2,351,000

Delta

Air

Lines

Inc.,

5.25%,

7/10/30

2,366,091

2,229,000

Burlington

Northern

Santa

Fe

LLC,

4.95%,

9/15/41

2,097,352

4,463,443

Total

(Cost $301,897,831)

299,837,485

Principal

Amount

Fair

Value

MUNICIPAL

BONDS

—

1.07%

Alabama

—

0.18%

2,675,000

Alabama

Economic

Settlement

Authority,

Economic

Imports,

Taxable

BP

-

Settlement

Revenue

Series

B

,

4.26 %,

9/15/32

(c) 2,634,080

California

—

0.09%

1,145,000

State

of

California,

Build

America

Bonds,

School

Improvements

G.O.

,

7.63 %,

3/1/40

(c) 1,370,535

New

York

—

0.80%

5,000,000

City

of

New

York

NY

,

5.68 %,

10/1/33

5,319,229

Sterling

Capital

Total

Return

Bond

Fund

Schedule

of

Investments

(continued)

June

30,

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

$

309,002

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

6,306,286

Total

(Cost $16,449,988)

15,939,132

Principal

Amount

Fair

Value

ASSET

BACKED

SECURITIES

—

14.17%

8,720,000

Carvana

Auto

Receivables

Trust,

Series

P2

,

Class

B,

1.27%,

3/10/27

8,537,422

3,987,000

GreatAmerica

Leasing

Receivables

Funding

LLC

,

5.00%,

9/15/28

(a) 4,032,694

5,741,000

BANK5

Trust,

Series

2024-5YR5

,

6.27%,

2/15/29

5,982,324

13,050,000

OneMain

Direct

Auto

Receivables

Trust,

Series

1A

,

Class

A,

5.41%,

11/14/29

(a) 13,170,656

4,543,000

Avis

Budget

Rental

Car

Funding

AESOP

LLC,

Series

8A

,

Class

A,

6.02%,

2/20/30

(a) 4,748,446

3,127,000

Avis

Budget

Rental

Car

Funding

AESOP

LLC,

Series

2023-1A

,

Class

A,

5.36%,

6/20/30

(a) 3,208,427

9,600,000

Dryden

CLO

Ltd.,

Series

53A

,

Class

BR,

–%,

1/15/31

(a)(b) 9,600,000

17,494,000

Hertz

Vehicle

Financing

III

LLC,

Series

2A

,

Class

A,

5.48%,

1/27/31

(a) 17,785,662

5,625,000

ARI

Fleet

Lease

Trust,

Series

B

,

Class

A3,

5.89%,

7/15/32

(a) 5,753,463

246,582

New

Century

Home

Equity

Loan

Trust,

Series

,

Class

M1,

5.56%,

10/25/33

(c) 246,504

10,114

RAAC

Trust,

STEP,

Series

2004-SP1

,

Class

AI3,

6.12%,

3/25/34

10,058

1,126,555

Saxon

Asset

Securities

Trust,

Series

,

Class

M1,

5.33%,

12/26/34

(TSFR1M

+

bps)

(b) 1,092,396

3,394,162

OneMain

Financial

Issuance

Trust,

Series

S1

,

Class

A,

4.13%,

5/14/35

(a) 3,381,508

20,805,000

OneMain

Financial

Issuance

Trust,

Series

1A

,

Class

A1,

1.55%,

6/16/36

(a) 19,902,665

2,863,975

BX

Trust,

Series

2021-RISE

,

Class

C,

5.88%,

11/15/36

(a) 2,856,855

15,000,000

CIFC

Funding

Ltd.,

Series

2017-3A

,

Class

AR,

5.81%,

4/20/37

(TSFR3M

+

bps)

(a)(d) 15,048,451

11,103,000

OHA

Credit

Funding

Ltd.,

Series

5A

,

Class

AR,

5.62%,

10/18/37

(a)(d) 11,145,302

Sterling

Capital

Total

Return

Bond

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

ASSET

BACKED

SECURITIES

—

(continued)

$

10,500,335

CARLYLE

US

CLO

Ltd.,

Series

2017-3A

,

Class

A1R2,

5.67%,

10/21/37

(a)(d) $

10,545,381

11,500,000

Reese

Parl

CLO

Ltd.,

Series

1A

,

Class

ARR,

5.58%,

1/15/38

(TSFR3M

+

bps)

(a)(b) 11,538,870

13,303,000

Toyota

Auto

Loan

Extended

Note

Trust,

Series

2025-1A

,

Class

A,

4.65%,

5/25/38

(a) 13,480,535

3,686,249

MVW

LLC,

Series

2024-2

,

Class

A,

4.43%,

3/20/42

(a) 3,677,491

13,356,854

Freddie

Mac

,

1.50%,

7/25/50

10,240,608

2,002,000

BMO

Mortgage

Trust,

Series

2023-5C1

,

7.12%,

8/15/56

2,123,500

3,607,000

BANK5

Trust,

Series

2023-5YR3

,

Class

AS,

7.32%,

9/15/56

3,856,301

13,268,154

SMB

Private

Education

Loan

Trust,

Series

2024-E

,

Class

A-1A,

5.09%,

10/16/56

(a) 13,397,179

5,192,000

BANK5

Trust,

Series

2024-5YR6

,

Class

A3,

6.23%,

5/15/57

5,466,147

9,377,000

BANK5

Trust,

Series

2024-5YR6

,

Class

AS,

6.79%,

5/15/57

9,952,755

Total

(Cost $210,025,051)

210,781,600

Principal

Amount

Fair

Value

COMMERCIAL

MORTGAGE-BACKED

SECURITIES

—

9.24%

4,030,684

FRESB

Mortgage

Trust,

Series

SB52,

Class

A10F,

3.46%,

6/25/28

3,939,109

1,396,000

Benchmark

Mortgage

Trust,

Series

V6,

Class

A3,

5.93%,

3/15/29

1,456,503

5,293,000

Benchmark

Mortgage

Trust,

Series

V6,

Class

AS,

6.38%,

3/15/29

5,529,410

1,449,097

Fannie

Mae-Aces,

Series

2019-M9,

Class

A2,

2.94%,

6/25/29

1,395,445

3,386,000

Freddie

Mac

Multifamily

Structured

Pass

Through,

Series

K153,

Class

A3,

3.12%,

10/25/31

3,152,975

8,536,000

Freddie

Mac

Multifamily

Structured

Pass

Through,

Series

K155,

Class

A3,

3.75%,

4/25/33

8,133,327

21,171

CSFB

Mortgage-Backed

Pass-Through

Certificates,

Series

1,

Class

2A1,

6.50%,

2/25/34

21,172

37,241

CHL

Mortgage

Pass-Through

Trust,

Series

3,

Class

A4,

5.75%,

4/25/34

37,047

8,994

Citigroup

Mortgage

Loan

Trust,

Inc.,

Series

NCM2,

Class

3CB2,

6.50%,

8/25/34

(c) 8,973

3,080,414

ELP

Commercial

Mortgage

Trust,

Series

2021-ELP,

Class

C,

5.75%,

11/15/38

(a) 3,076,564

2,929,389

BX

Commercial

Mortgage

Trust,

Series

2021-ACNT,

Class

C,

5.93%,

11/15/38

(a) 2,925,727

Sterling

Capital

Total

Return

Bond

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

COMMERCIAL

MORTGAGE-BACKED

SECURITIES

—

(continued)

2,614,305

BX

Commercial

Mortgage

Trust,

Series

2021-CIP,

Class

B,

5.70%,

12/15/38

(a) 2,612,671

2,597,776

SMR

Mortgage

Trust,

Series

2022-IND,

Class

A,

5.96%,

2/15/39

(a) 2,602,273

32,104

Freddie

Mac,

Series

4710,

Class

GA,

3.00%,

3/15/44

31,978

1,072,983

JP

Morgan

Chase

Commercial

Mortgage,

Series

C3,

Class

B,

5.01%,

2/15/46

(a)(b) 1,037,025

15,085

COMM

Mortgage

Trust,

3.69%,

8/10/47

14,919

13,826

GS

Mortgage

Securities

Trust,

3.93%,

9/12/47

13,794

960,059

CSAIL

Commercial

Mortgage

Trust,

Series

2015-C4,

Class

A4,

3.81%,

11/15/48

956,302

2,812,000

Wells

Fargo

Commercial

Mortgage

Trust,

Series

P2,

Class

A4,

3.81%,

12/15/48

2,795,121

4,314,000

CD

Mortgage

Trust,

Series

2016-CD2,

Class

A4,

3.53%,

11/10/49

(b) 4,164,955

2,562,000

Morgan

Stanley

Capital

I

Trust,

Series

BNK2,

Class

A4,

3.05%,

11/15/49

2,496,839

2,209,000

GS

Mortgage

Securities

Trust,

Series

2016-GS4,

Class

A4,

3.44%,

11/15/49

2,170,347

1,517,000

JP

Morgan

Chase

Commercial

Mortgage,

Series

JP4,

Class

A4,

3.65%,

12/15/49

1,492,947

5,198,000

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust,

Series

C32,

Class

A4,

3.72%,

12/15/49

5,132,409

723,000

Wells

Fargo

Commercial

Mortgage

Trust,

Series

C37,

Class

A5,

3.79%,

12/15/49

712,863

530,000

CD

Mortgage

Trust,

Series

2017-CD3,

Class

A4,

3.63%,

2/10/50

510,125

3,742,000

JPMCC

Commercial

Mortgage

Securities

Trust,

Series

JP5,

Class

A5,

3.72%,

3/15/50

3,683,112

1,337,000

Citigroup

Commercial

Mortgage

Trust,

Series

P7,

Class

A4,

3.71%,

4/14/50

1,307,731

7,241,000

COMM

Mortgage

Trust,

Series

COR2,

Class

A3,

3.51%,

9/10/50

7,060,398

8,591,000

Wells

Fargo

Commercial

Mortgage

Trust,

Series

C40,

Class

A4,

3.58%,

10/15/50

8,414,622

8,910,000

Morgan

Stanley

Capital

I,

Series

HR2,

Class

A4,

3.59%,

12/15/50

8,686,677

9,850,000

Morgan

Stanley

Capital

I

Trust,

Series

H3,

Class

A5,

4.18%,

7/15/51

9,711,612

3,447,000

CFCRE

Commercial

Mortgage

Trust,

Series

C7,

Class

A3,

3.84%,

12/10/54

3,398,314

3,127,000

Benchmark

Mortgage

Trust,

Series

V2,

Class

AS,

6.54%,

5/15/55

3,253,810

8,156,000

Benchmark

Mortgage

Trust,

Series

2024-V7,

Class

A3,

6.23%,

5/15/56

(b) 8,589,674

Sterling

Capital

Total

Return

Bond

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

COMMERCIAL

MORTGAGE-BACKED

SECURITIES

—

(continued)

6,548,000

Benchmark

Mortgage

Trust,

Series

2024-V7,

Class

AS,

6.53%,

5/15/56

6,873,262

5,789,000

BANK5

Trust,

Series

2023-5YR4,

Class

AS,

7.27%,

12/15/56

6,195,111

8,434,000

Benchmark

Mortgage

Trust,

Series

V5,

Class

A3,

5.81%,

1/10/57

8,754,734

2,940,000

BBCMS

Mortgage

Trust,

Series

5C25,

Class

A3,

5.95%,

3/15/57

3,068,699

2,002,000

BBCMS

Mortgage

Trust,

Series

5C25,

Class

AS,

6.36%,

3/15/57

2,092,381

Total

(Cost $140,618,352)

$

137,510,957

Principal

Amount

Fair

Value

COLLATERALIZED

MORTGAGE

OBLIGATIONS

—

3.98%

456,709

Freddie

Mac,

Series

4136,

Class

HZ,

3.50%,

11/15/27

452,683

2,107,000

BANK5,

Series

2023-5YR4,

Class

B,

7.61%,

12/15/28

2,265,372

324,000

Freddie

Mac,

Series

4160,

Class

HH,

2.50%,

12/15/32

305,834

8,119,443

Ginnie

Mae,

Series

132,

Class

DV,

6.00%,

7/20/34

8,301,902

98,493

Ginnie

Mae,

Series

2008-51,

Class

PG,

5.00%,

6/20/38

99,140

88,451

Fannie

Mae,

Series

2013-16,

Class

A,

1.75%,

1/25/40

88,121

151,614

Freddie

Mac,

Series

3632,

Class

PK,

5.00%,

2/15/40

154,178

2,341,520

Ginnie

Mae,

Series

2014-2,

Class

AG,

2.29%,

3/20/40

2,092,651

39,377

Freddie

Mac,

Series

4077,

Class

PJ,

3.50%,

11/15/40

39,268

730,000

Freddie

Mac,

Series

3762,

Class

LN,

4.00%,

11/15/40

696,424

468,928

Fannie

Mae,

Series

2011-38,

Class

D,

4.50%,

5/25/41

(c) 467,508

9,355,000

Progress

Residential

Trust,

Series

SFR1,

Class

A,

3.40%,

2/17/42

(a) 8,863,766

3,423,180

Freddie

Mac,

Series

5427,

Class

HZ,

3.50%,

8/15/42

2,803,905

6,956,976

Freddie

Mac,

Series

4112,

Class

PB,

4.00%,

9/15/42

6,697,842

891,000

Fannie

Mae,

Series

2013-70,

Class

CY,

3.50%,

7/25/43

771,405

237,193

Freddie

Mac,

Series

4328,

Class

KD,

3.00%,

8/15/43

229,571

1,118,332

Freddie

Mac,

Series

4427,

Class

KA,

2.25%,

7/15/44

1,052,631

8,183,817

Freddie

Mac,

Series

5300,

Class

AB,

5.50%,

1/25/49

8,290,048

10,567,884

Ginnie

Mae,

Series

154,

Class

GA,

6.00%,

4/20/50

10,808,101

4,548,114

Freddie

Mac,

Series

5499,

Class

A,

5.50%,

10/25/52

4,687,853

Total

(Cost $58,615,344)

59,168,203

Sterling

Capital

Total

Return

Bond

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

MORTGAGE-BACKED

SECURITIES

—

24.93%

Fannie

Mae

—

14.70%

5.00%,

9/01/25,

Pool

#255892

733,684

4.00%,

12/01/33,

Pool

#MA1689

726,120

428,758

4.00%,

6/01/34,

Pool

#MA1922

425,316

390,084

4.00%,

3/01/35,

Pool

#MA2211

385,765

176,452

5.50%,

8/01/37,

Pool

#995082

181,670

1,981,555

3.50%,

8/01/38,

Pool

#FM2472

1,913,260

71,971

4.50%,

10/01/39,

Pool

#AC2645

71,186

80,108

5.00%,

6/01/40,

Pool

#AD4927

81,105

84,098

5.00%,

6/01/40,

Pool

#AD8718

85,144

4,482,424

4.00%,

8/01/40,

Pool

#FM4673

4,433,992

10,432,541

1.50%,

12/01/40,

Pool

#MA4202

8,672,591

160,363

4.50%,

12/01/40,

Pool

#AH1100

159,883

99,926

4.50%,

3/01/41,

Pool

#AB2467

99,390

176,494

4.50%,

5/01/41,

Pool

#AI1023

173,348

127,037

4.50%,

11/01/41,

Pool

#AJ4994

126,356

145,492

4.50%,

12/01/41,

Pool

#AJ7696

144,533

361,440

3.50%,

6/01/42,

Pool

#AB5373

339,027

329,466

3.50%,

5/01/43,

Pool

#AB9368

308,657

623,239

3.50%,

5/01/43,

Pool

#AL3605

578,435

877,142

3.50%,

8/01/43,

Pool

#AU0613

818,577

161,096

4.50%,

11/01/44,

Pool

#MA2100

157,880

530,720

4.50%,

1/01/45,

Pool

#MA2158

518,921

626,380

4.00%,

3/01/45,

Pool

#MA2217

(c) 595,157

564,253

4.00%,

6/01/46,

Pool

#MA2653

534,725

492,163

4.50%,

7/01/46,

Pool

#AS7568

480,512

674,912

4.00%,

11/01/46,

Pool

#MA2808

639,417

829,200

4.00%,

5/01/47,

Pool

#BE9598

778,390

1,158,255

4.00%,

8/01/47,

Pool

#BH5117

1,096,736

2,898,839

4.00%,

4/01/48,

Pool

#BM3900

2,740,574

1,056,699

5.00%,

8/01/48,

Pool

#CA2219

1,055,465

2,663,042

3.00%,

11/01/48,

Pool

#BM5822

2,362,379

8,975,039

4.50%,

11/01/48,

Pool

#BM7046

8,799,267

3,710,338

3.50%,

10/01/49,

Pool

#CA4431

3,374,340

5,316,771

3.00%,

3/01/50,

Pool

#FM2714

4,655,703

9,223,800

3.00%,

3/01/50,

Pool

#FM2870

8,150,138

Sterling

Capital

Total

Return

Bond

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

MORTGAGE-BACKED

SECURITIES

—

(continued)

Fannie

Mae

—

(continued)

6,150,633

2.00%,

7/01/50,

Pool

#CA6301

4,933,278

7,584,805

2.50%,

9/01/50,

Pool

#BQ0538

6,348,391

13,739,745

3.50%,

9/01/50,

Pool

#FS5284

12,494,354

3,187,095

3.00%,

10/01/50,

Pool

#CA7381

2,771,073

4,185,022

4.00%,

8/01/51,

Pool

#FS8708

3,943,924

3,853,152

3.00%,

11/01/51,

Pool

#CB2170

3,343,867

10,035,820

3.50%,

4/01/52,

Pool

#FS1185

9,054,404

12,838,042

3.50%,

4/01/52,

Pool

#FS1475

11,705,392

1,637,078

4.00%,

5/01/52,

Pool

#FS1790

1,522,932

7,682,654

4.50%,

6/01/52,

Pool

#FS2157

7,434,935

5,815,492

4.50%,

11/01/52,

Pool

#FS3809

5,593,394

5,670,773

5.00%,

11/01/52,

Pool

#CB5278

5,583,761

6,573,644

5.50%,

3/01/53,

Pool

#FS3925

6,627,404

7,014,594

4.50%,

5/01/53,

Pool

#CB6304

6,747,586

14,165,962

5.00%,

5/01/53,

Pool

#FS4929

14,055,546

8,626,200

5.50%,

5/01/53,

Pool

#FS4571

8,690,377

8,550,309

6.00%,

6/01/53,

Pool

#FS6616

8,696,291

10,282,216

5.50%,

7/01/53,

Pool

#FS5589

10,330,867

6,105,419

6.00%,

7/01/53,

Pool

#FS5233

6,252,583

13,958,814

6.00%,

9/01/53,

Pool

#CB7124

14,404,201

12,213,245

6.00%,

4/01/54,

Pool

#FA0566

12,464,107

$

218,662,811

Federal

Farm

Credit

Banks

Funding

Corp.

—

0.29%

5,325,000

2.40%,

3/24/36

4,284,677

—

Freddie

Mac

—

9.59%

5.00%,

7/01/25,

Pool

#ZA1892

29,062

2.50%,

1/01/28,

Pool

#ZK4918

28,484

135,985

3.50%,

7/01/30,

Pool

#ZS8575

134,327

22,410

5.00%,

3/01/36,

Pool

#ZS4230

22,748

733,212

4.00%,

4/01/36,

Pool

#ZA2413

724,674

6,688

5.00%,

7/01/36,

Pool

#ZS1139

6,793

555,237

3.50%,

8/01/36,

Pool

#ZA2425

536,647

73,301

6.50%,

9/01/36,

Pool

#ZS4257

77,118

1,364,411

3.50%,

11/01/36,

Pool

#ZA2439

1,317,360

Sterling

Capital

Total

Return

Bond

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

MORTGAGE-BACKED

SECURITIES

—

(continued)

Freddie

Mac

—

(continued)

32,631

5.00%,

2/01/37,

Pool

#ZI5759

33,157

1,089,531

4.00%,

5/01/37,

Pool

#ZA2461

1,072,976

27,438

4.50%,

10/01/39,

Pool

#ZI9349

27,152

3,796,348

3.00%,

5/01/40,

Pool

#RB5049

3,543,286

85,128

5.00%,

6/01/40,

Pool

#ZA1049

86,187

215,069

5.00%,

7/01/40,

Pool

#ZJ0194

217,744

26,084

5.00%,

9/01/40,

Pool

#ZA1066

26,409

5,276,404

2.00%,

12/01/40,

Pool

#RB5090

4,554,183

311,823

4.00%,

12/01/42,

Pool

#ZS3671

299,210

237,330

3.50%,

5/01/43,

Pool

#ZL5915

222,391

120,878

4.00%,

5/01/44,

Pool

#ZA4468

115,002

63,497

4.00%,

7/01/44,

Pool

#ZS4573

60,528

115,397

4.00%,

9/01/44,

Pool

#ZL8439

108,527

1,417,112

3.50%,

1/01/45,

Pool

#ZL8964

1,323,192

1,276,620

3.50%,

5/01/46,

Pool

#ZS4663

1,179,093

362,443

4.00%,

8/01/46,

Pool

#ZS4673

343,419

862,495

3.50%,

9/01/46,

Pool

#ZS4678

798,910

1,984,154

3.50%,

9/01/47,

Pool

#ZM4305

1,825,484

534,454

3.50%,

1/01/48,

Pool

#ZM5375

490,280

441,663

4.00%,

2/01/48,

Pool

#ZT1639

418,253

431,177

4.00%,

6/01/48,

Pool

#ZT0541

408,277

2,164,278

3.00%,

11/01/49,

Pool

#QA4336

1,899,071

1,917,013

3.50%,

6/01/50,

Pool

#RA2794

1,744,826

8,002,778

2.50%,

7/01/50,

Pool

#RA2970

6,706,707

196,349

3.00%,

1/01/51,

Pool

#SD8123

171,063

1,100,514

3.00%,

12/01/51,

Pool

#SD8184

960,978

4,495,667

3.50%,

4/01/52,

Pool

#RA7191

4,068,821

8,900,723

4.00%,

5/01/52,

Pool

#RA7306

8,329,293

10,492,148

3.50%,

6/01/52,

Pool

#SD2670

9,618,245

9,000,429

4.00%,

8/01/52,

Pool

#SD3617

8,478,349

8,465,089

4.50%,

8/01/52,

Pool

#SD1515

8,141,789

8,575,722

5.00%,

9/01/52,

Pool

#RA7936

8,486,257

8,156,501

5.00%,

10/01/52,

Pool

#SD1710

8,033,869

8,378,762

5.50%,

2/01/53,

Pool

#QF8052

8,430,503

10,515,084

4.00%,

3/01/53,

Pool

#SD3107

9,839,953

Sterling

Capital

Total

Return

Bond

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

MORTGAGE-BACKED

SECURITIES

—

(continued)

Freddie

Mac

—

(continued)

2,692,887

5.00%,

3/01/53,

Pool

#SD2390

2,653,294

14,452,135

5.50%,

3/01/53,

Pool

#SD2774

14,576,812

5,058,235

6.00%,

5/01/53,

Pool

#SD3072

5,182,184

9,716,552

5.00%,

8/01/53,

Pool

#SD3814

9,599,477

1,506,306

5.00%,

9/01/53,

Pool

#SD4220

1,492,134

4,214,006

5.50%,

12/01/54,

Pool

#SD6940

4,236,771

$

142,652,291

Ginnie

Mae

I

—

0.00%

43,758

5.00%,

2/15/40,

Pool

#737037

44,293

Ginnie

Mae

II

—

0.35%

5,579,490

4.00%,

7/20/52,

Pool

#786280

5,206,669

Total

(Cost $385,685,175)

370,850,741

Principal

Amount

Fair

Value

U.S.

GOVERNMENT

&

AGENCIES

—

4.30%

4,369,215

Fannie

Mae,

2.50 %

,

11/01/50

3,672,290

13,227,820

Fannie

Mae,

2.50 %

,

6/01/52

11,151,881

24,409,287

Fannie

Mae,

3.00 %

,

6/01/52

21,367,305

13,527,256

Fannie

Mae,

6.00 %

,

6/01/54

13,831,631

6,911,534

Fannie

Mae,

5.50 %

,

11/01/54

6,930,974

7,105,556

Fannie

Mae,

5.00 %

,

5/01/55

6,975,235

Total

(Cost $64,061,860)

63,929,316

Principal

Amount

Fair

Value

U.S.

TREASURY

BONDS

&

NOTES

—

20.92%

10,638,400

United

States

Treasury

Bond,

2.63 %

,

2/15/29

10,244,862

24,876,300

United

States

Treasury

Bond,

4.00 %

,

2/28/30

25,118,261

111,043,700

United

States

Treasury

Bond,

4.13 %

,

11/15/32

(c) 111,811,464

36,483,500

United

States

Treasury

Bond,

4.00 %

,

2/15/34

36,102,988

81,655,700

United

States

Treasury

Bond,

2.50 %

,

2/15/45

57,484,337

65,822,200

United

States

Treasury

Bond,

1.38 %

,

8/15/50

32,453,430

41,583,100

United

States

Treasury

Bond,

4.25 %

,

8/15/54

37,973,817

Total

(Cost $310,141,129)

311,189,159

Sterling

Capital

Total

Return

Bond

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Shares

Fair

Value

MONEY

MARKET

FUNDS

—

1.05%

15,603,941

Federated

Hermes

Treasury

Obligations

Fund,

Institutional

Shares,

4.18%

(e) 15,603,941

Total

Money

Market

Funds

(Cost

$15,603,941)

$

15,603,941

Total

Investments—

99.91%

(Cost

$1,504,598,671)

1,486,310,534

Other

Assets

in

Excess

of

Liabilities

—

0.09%

1,403,129

NET

ASSETS

—

100.00%

$

1,487,713,663

(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

June

30,

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

June

30,

2025

is

$88,458,931,

which

represents

5.9%

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.

GMTN

Global

Medium

Term

Note

G.O.

General

Obligation

MTN

Medium

Term

Note

STEP

Step

Coupon

Bond

Sterling

Capital

Long

Duration

Corporate

Bond

Fund

Schedule

of

Investments

June

30,

2025

(Unaudited)

c

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

90.40%

AEROSPACE

&

DEFENSE

—

3.57%

$

196,000

Howmet

Aerospace,

Inc.,

5.95%,

2/01/37

$

208,109

139,000

RTX

Corp.,

4.45%,

11/16/38

128,085

268,000

Boeing

Co.

(The),

5.71%,

5/01/40

264,768

212,000

RTX

Corp.,

2.82%,

9/01/51

130,973

194,000

Lockheed

Martin

Corp.,

4.15%,

6/15/53

153,957

207,000

L3Harris

Technologies,

Inc.,

5.60%,

7/31/53

202,559

111,000

RTX

Corp.,

6.40%,

3/15/54

121,671

294,000

Boeing

Co.

(The),

6.86%,

5/01/54

321,847

125,000

Boeing

Co.

(The),

5.93%,

5/01/60

118,820

1,650,789

ASSET

MANAGEMENT

—

0.57%

95,000

Blue

Owl

Finance

LLC,

Series

C10,

4.13%,

10/07/51

64,805

97,000

KKR

Group

Finance

Co.

X

LLC,

3.25%,

12/15/51

(a) 62,209

146,000

Ares

Management

Corp.,

5.60%,

10/11/54

137,784

264,798

AUTOMOTIVE

—

0.44%

67,000

General

Motors

Financial

Co.

Inc.,

6.10%,

1/07/34

68,958

173,000

Ford

Motor

Co.,

4.75%,

1/15/43

133,028

201,986

BANKS

—

7.30%

143,000

Morgan

Stanley,

2.48%,

9/16/36

121,512

114,000

Bank

of

America

Corp.,

2.48%,

9/21/36

(b) 96,598

96,000

Fifth

Third

Bancorp,

8.25%,

3/01/38

114,981

187,000

Bank

of

America

Corp.,

4.24%,

4/24/38

(b) 170,257

100,000

HSBC

Holdings

PLC,

6.80%,

6/01/38

108,403

264,000

Morgan

Stanley,

3.97%,

7/22/38

(b) 229,878

122,000

JPMorgan

Chase

&

Co.,

3.88%,

7/24/38

(TSFR3M

+

bps)

(b) 107,599

81,000

Citigroup,

Inc.,

3.88%,

1/24/39

69,820

128,000

Westpac

Banking

Corp.,

2.96%,

11/16/40

94,731

66,000

Citigroup,

Inc.,

5.32%,

3/26/41

(b) 64,370

365,000

JPMorgan

Chase

&

Co.,

3.11%,

4/22/41

(TSFR3M

+

bps)

(b) 279,749

143,000

Wells

Fargo

&

Co.,

3.07%,

4/30/41

(b) 108,061

362,000

Bank

of

America

Corp.

MTN,

2.68%,

6/19/41

(b) 258,198

56,000

Citigroup,

Inc.,

5.88%,

1/30/42

57,895

153,000

JPMorgan

Chase

&

Co.,

3.16%,

4/22/42

(b) 115,368

204,000

Barclays

PLC,

3.33%,

11/24/42

(H15T1Y

+

bps)

(b) 151,438

363,000

Wells

Fargo

&

Co.,

5.38%,

11/02/43

344,215

93,000

JPMorgan

Chase

&

Co.,

5.53%,

11/29/45

(b) 93,207

200,000

Lloyds

Banking

Group

PLC,

3.37%,

12/14/46

142,509

161,000

JPMorgan

Chase

&

Co.,

4.26%,

2/22/48

135,649

136,000

Charles

Schwab

Corp.

(The),

Series

H,

4.00%,

12/31/49

(H15T10Y

+

307.90 bps)

(b)(c) 126,162

Sterling

Capital

Long

Duration

Corporate

Bond

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

BANKS

—

(continued)

$

232,000

Bank

of

America

Corp.

MTN,

4.33%,

3/15/50

(TSFR3M

+

bps)

(b) $

192,673

117,000

Wells

Fargo

&

Co.

MTN,

5.01%,

4/04/51

(TSFR3M

+

bps)

(b) 106,531

113,000

S&P

Global,

Inc.,

3.70%,

3/01/52

85,419

3,375,223

BEVERAGES

—

2.91%

144,000

Diageo

Capital

PLC,

3.88%,

4/29/43

115,819

317,000

Anheuser-Busch

Cos.

LLC,

4.90%,

2/01/46

(FIXED)

290,575

200,000

Bacardi

Ltd.,

5.30%,

5/15/48

(a) 175,994

379,000

Anheuser-Busch

InBev

Worldwide

Inc.,

5.55%,

1/23/49

376,126

214,000

Constellation

Brands,

Inc.,

3.75%,

5/01/50

155,672

96,000

PepsiCo,

Inc.,

2.75%,

10/21/51

59,892

194,000

PepsiCo,

Inc.,

4.65%,

2/15/53

171,025

1,345,103

BIOTECH

&

PHARMA

—

1.99%

110,000

Wyeth

LLC,

5.95%,

4/01/37

117,330

187,000

Pfizer

Investment

Enterprises

Pte

Ltd.,

5.11%,

5/19/43

178,327

200,000

Roche

Holdings,

Inc.,

2.61%,

12/13/51

(a) 122,260

190,000

CSL

Finance

PLC,

4.75%,

4/27/52

(a) 162,994

200,000

Roche

Holdings

Inc.,

5.22%,

3/08/54

(a) 193,974

91,000

CSL

Finance

PLC,

5.42%,

4/03/54

(a) 85,974

59,000

AbbVie

Inc.,

5.60%,

3/15/55

59,021

919,880

BIOTECHNOLOGY

—

3.06%

134,000

AbbVie,

Inc.,

4.05%,

11/21/39

117,452

192,000

Gilead

Sciences,

Inc.,

2.60%,

10/01/40

137,754

56,000

Amgen,

Inc.,

5.15%,

11/15/41

52,771

131,000

AbbVie,

Inc.,

4.40%,

11/06/42

115,183

260,000

Amgen,

Inc.,

5.60%,

3/02/43

257,923

90,000

Baxalta,

Inc.,

5.25%,

6/23/45

84,033

149,000

AbbVie,

Inc.,

4.45%,

5/14/46

128,256

218,000

Amgen,

Inc.,

5.65%,

3/02/53

212,854

114,000

Amgen,

Inc.,

2.77%,

9/01/53

67,605

116,000

AbbVie,

Inc.,

5.40%,

3/15/54

112,793

171,000

Amgen,

Inc.,

4.40%,

2/22/62

133,478

1,420,102

CABLE

&

SATELLITE

—

2.03%

190,000

Time

Warner

Cable

LLC,

6.55%,

5/01/37

196,236

103,000

Time

Warner

Cable

LLC,

5.88%,

11/15/40

98,886

315,000

Charter

Communications

Operating

LLC,

6.48%,

10/23/45

312,116

141,000

Charter

Communications

Operating

LLC,

6.83%,

10/23/55

144,294

Sterling

Capital

Long

Duration

Corporate

Bond

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

CABLE

&

SATELLITE

—

(continued)

$

269,000

Charter

Communications

Operating

LLC,

4.40%,

12/01/61

$

188,619

940,151

CAPITAL

MARKETS

—

0.93 %

146,000

Goldman

Sachs

Group,

Inc.

(The),

6.75%,

10/01/37

160,276

106,000

Jefferies

Financial

Group,

Inc.,

6.50%,

1/20/43

110,594

193,000

Intercontinental

Exchange,

Inc.,

4.25%,

9/21/48

157,511

428,381

CHEMICALS

—

0.23%

52,000

Dow

Chemical

Co.

(The),

4.38%,

11/15/42

42,313

88,000

LYB

International

Finance

III

LLC,

4.20%,

5/01/50

65,208

107,521

COMMERCIAL

SERVICES

&

SUPPLIES

—

0.24%

175,000

Republic

Services,

Inc.,

2.95%,

1/15/52

111,502

COMMUNICATIONS

EQUIPMENT

—

0.10%

48,000

Cisco

Systems,

Inc.,

5.30%,

2/26/54

46,549

CONSTRUCTION

MATERIALS

—

0.35%

106,000

Vulcan

Materials

Co.,

4.50%,

6/15/47

89,428

88,000

Martin

Marietta

Materials,

Inc.,

4.25%,

12/15/47

71,395

160,823

CONTAINERS

&

PACKAGING

—

0.66%

27,000

Packaging

Corp.

of

America,

4.05%,

12/15/49

20,632

139,000

Packaging

Corp.

of

America,

3.05%,

10/01/51

87,016

200,000

Smurfit

Kappa

Treasury

ULC,

5.78%,

4/03/54

197,357

305,005

DIVERSIFIED

FINANCIAL

SERVICES

—

0.49%

140,000

Corebridge

Financial,

Inc.,

4.40%,

4/05/52

111,852

116,000

Apollo

Global

Management,

Inc.,

5.80%,

5/21/54

114,560

226,412

DIVERSIFIED

TELECOMMUNICATION

SERVICES

—

3.84%

289,000

AT&T,

Inc.,

4.50%,

5/15/35

275,385

204,000

Verizon

Communications,

Inc.,

5.25%,

3/16/37

203,025

127,000

Verizon

Communications,

Inc.,

2.65%,

11/20/40

89,595

149,000

Verizon

Communications,

Inc.,

3.40%,

3/22/41

114,929

287,000

AT&T,

Inc.,

3.50%,

6/01/41

225,142

150,000

Deutsche

Telekom

AG,

3.63%,

1/21/50

(a) 108,943

345,000

AT&T,

Inc.,

3.65%,

9/15/59

231,462

547,000

AT&T,

Inc.,

3.85%,

6/01/60

382,471

213,000

Verizon

Communications,

Inc.,

3.70%,

3/22/61

147,004

1,777,956

ELECTRIC

UTILITIES

—

13.80%

74,000

Appalachian

Power

Co.,

5.80%,

10/01/35

75,592

66,000

Commonwealth

Edison

Co.,

5.90%,

3/15/36

70,492

68,000

Florida

Power

&

Light

Co.,

5.85%,

5/01/37

69,916

Sterling

Capital

Long

Duration

Corporate

Bond

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

ELECTRIC

UTILITIES

—

(continued)

$

124,000

Duke

Energy

Carolinas

LLC,

6.10%,

6/01/37

$

131,924

74,000

Duke

Energy

Florida

LLC,

6.35%,

9/15/37

80,875

140,000

Public

Service

Electric

&

Gas

Co.

MTN,

5.38%,

11/01/39

142,135

107,000

Massachusetts

Electric

Co.,

5.90%,

11/15/39

(a) 109,610

65,000

Puget

Sound

Energy,

Inc.,

5.64%,

4/15/41

64,356

100,000

Florida

Power

&

Light

Co.,

4.13%,

2/01/42

84,954

161,000

Virginia

Electric

and

Power

Co.,

4.00%,

1/15/43

129,700

110,000

MidAmerican

Energy

Co.,

4.80%,

9/15/43

100,211

184,000

Consolidated

Edison

Co.

of

New

York,

Inc.,

4.45%,

3/15/44

158,466

76,000

Exelon

Corp.,

5.10%,

6/15/45

69,037

125,000

Exelon

Corp.,

4.45%,

4/15/46

103,369

223,000

Duke

Energy

Indiana

LLC,

3.75%,

5/15/46

168,904

120,000

Duke

Energy

Ohio,

Inc.,

3.70%,

6/15/46

89,613

124,000

FirstEnergy

Corp.,

4.85%,

7/15/47

105,366

118,000

DTE

Electric

Co.,

3.75%,

8/15/47

89,795

100,000

Alabama

Power

Co.,

3.70%,

12/01/47

(d) 76,168

113,000

Connecticut

Light

and

Power

Co.

(The),

4.00%,

4/01/48

88,652

79,000

Consolidated

Edison

Co.

of

New

York,

Inc.,

4.65%,

12/01/48

67,064

83,000

CenterPoint

Energy

Houston

Electric

LLC,

4.25%,

2/01/49

66,617

80,000

FirstEnergy

Transmission

LLC,

4.55%,

4/01/49

(a) 67,808

141,000

San

Diego

Gas

&

Electric

Co.,

4.10%,

6/15/49

108,150

245,000

Entergy

Texas,

Inc.,

3.55%,

9/30/49

171,126

137,000

Union

Electric

Co.,

3.25%,

10/01/49

93,441

230,000

Xcel

Energy,

Inc.,

3.50%,

12/01/49

157,522

290,000

Georgia

Power

Co.,

3.70%,

1/30/50

216,143

172,000

AEP

Transmission

Co.

LLC,

3.65%,

4/01/50

(d) 126,062

132,000

San

Diego

Gas

&

Electric

Co.,

3.32%,

4/15/50

88,515

161,000

Baltimore

Gas

and

Electric

Co.,

2.90%,

6/15/50

100,669

235,000

CenterPoint

Energy

Houston

Electric

LLC,

2.90%,

7/01/50

(d) 150,470

113,000

Berkshire

Hathaway

Energy

Co.,

4.25%,

10/15/50

90,270

155,000

Commonwealth

Edison

Co.,

3.13%,

3/15/51

102,416

178,000

Duke

Energy

Progress

LLC,

2.90%,

8/15/51

110,634

134,000

PECO

Energy

Co.,

2.85%,

9/15/51

84,385

133,000

Puget

Sound

Energy,

Inc.,

2.89%,

9/15/51

82,335

147,000

DTE

Electric

Co.,

3.65%,

3/01/52

108,037

55,000

Northern

States

Power

Co.,

4.50%,

6/01/52

46,693

109,000

MidAmerican

Energy

Co.,

2.70%,

8/01/52

67,472

178,000

Duke

Energy

Corp.,

5.00%,

8/15/52

156,053

109,000

Oncor

Electric

Delivery

Co.

LLC,

4.95%,

9/15/52

96,640

93,000

Duke

Energy

Carolinas

LLC,

5.35%,

1/15/53

89,169

Sterling

Capital

Long

Duration

Corporate

Bond

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

ELECTRIC

UTILITIES

—

(continued)

$

204,000

Southern

California

Edison

Co.,

5.70%,

3/01/53

$

183,004

70,000

Union

Electric

Co.,

5.45%,

3/15/53

67,533

150,000

Indiana

Michigan

Power

Co.,

5.63%,

4/01/53

147,230

123,000

Berkshire

Hathaway

Energy

Co.,

4.60%,

5/01/53

102,786

78,000

Public

Service

Electric

and

Gas

Co.,

5.45%,

8/01/53

76,482

81,000

Entergy

Texas,

Inc.,

5.80%,

9/01/53

79,829

92,000

Duke

Energy

Corp.,

6.10%,

9/15/53

93,572

68,000

Southern

California

Edison

Co.,

5.88%,

12/01/53

62,069

69,000

Duke

Energy

Carolinas

LLC,

5.40%,

1/15/54

66,359

162,000

NextEra

Energy

Capital

Holdings,

Inc.,

5.55%,

3/15/54

155,814

204,000

Entergy

Louisiana

LLC,

5.70%,

3/15/54

201,307

91,000

Public

Service

Electric

and

Gas

Co.,

5.50%,

3/01/55

89,744

114,000

Duke

Energy

Progress

LLC,

5.55%,

3/15/55

111,428

229,000

Virginia

Electric

and

Power

Co.,

5.65%,

3/15/55

225,547

35,000

Entergy

Mississippi

LLC,

5.80%,

4/15/55

35,020

22,000

DTE

Electric

Co.,

5.85%,

5/15/55

22,524

80,000

Florida

Power

&

Light

Co.,

5.80%,

3/15/65

81,115

145,000

Dominion

Energy

South

Carolina,

Inc.,

5.10%,

6/01/65

129,756

6,387,945

ENERGY

EQUIPMENT

&

SERVICES

—

0.17%

84,000

Halliburton

Co.,

4.85%,

11/15/35

80,847

EQUITY

REAL

ESTATE

-INVESTMENT

TRUSTS

-(REITS)

—

0.24%

161,000

NNN

REIT,

Inc.,

3.50%,

4/15/51

110,410

FINANCIAL

SERVICES

—

1.03%

82,000

Blackstone

Holdings

Finance

Co.

LLC,

6.25%,

8/15/42

(a) 85,158

69,000

Carlyle

Holdings

II

Finance

LLC,

5.63%,

3/30/43

(a) 66,096

70,000

KKR

Group

Finance

Co.

III

LLC,

5.13%,

6/01/44

(a) 63,533

200,000

UBS

Group

AG,

5.38%,

9/06/45

(USISSO01

+

bps)

(a)(b) 192,820

37,000

BlackRock

Funding,

Inc.,

5.25%,

3/14/54

35,483

33,000

BlackRock

Funding,

Inc.,

5.35%,

1/08/55

32,163

475,253

FOOD

—

1.87%

221,000

Kraft

Heinz

Foods

Co.,

6.88%,

1/26/39

244,480

150,000

Nestle

Holdings,

Inc.,

2.50%,

9/14/41

(a) 103,967

71,000

Cargill,

Inc.,

4.76%,

11/23/45

(a) 63,373

105,000

Kraft

Heinz

Foods

Co.,

4.88%,

10/01/49

90,151

76,000

Cargill,

Inc.,

4.38%,

4/22/52

(a) 62,082

304,000

Mars,

Inc.,

5.70%,

5/01/55

(a) 303,257

867,310

FOOD

&

STAPLES

RETAILING

—

0.24%

157,000

Kenvue,

Inc.,

2.50%,

9/22/41

110,874

Sterling

Capital

Long

Duration

Corporate

Bond

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

GAS

&

WATER

UTILITIES

—

0.43%

$

309,000

Southern

Co

Gas

Capital

Corp.,

3.15%,

9/30/51

$

197,441

GAS

UTILITIES

—

0.16%

88,000

Atmos

Energy

Corp.,

4.13%,

10/15/44

72,872

HEALTH

CARE

EQUIPMENT

&

SUPPLIES

—

0.54%

84,000

Stryker

Corp.,

4.63%,

3/15/46

74,311

70,000

Abbott

Laboratories,

4.90%,

11/30/46

(d) 66,257

100,000

GE

HealthCare

Technologies,

Inc.,

6.38%,

11/22/52

107,742

248,310

HEALTH

CARE

FACILITIES

&

SERVICES

—

1.16%

218,000

UnitedHealth

Group

Inc.,

2.75%,

5/15/40

158,161

169,000

HCA,

Inc.,

5.50%,

6/15/47

157,045

162,000

HCA,

Inc.,

3.50%,

7/15/51

107,313

116,000

HCA,

Inc.,

6.00%,

4/01/54

113,483

536,002

HEALTH

CARE

PROVIDERS

&

SERVICES

—

1.80%

226,000

UnitedHealth

Group,

Inc.,

3.50%,

8/15/39

182,384

229,000

CVS

Health

Corp.,

5.13%,

7/20/45

202,805

154,000

UnitedHealth

Group,

Inc.,

3.75%,

10/15/47

114,641

194,000

Elevance

Health,

Inc.,

4.38%,

12/01/47

158,568

70,000

CVS

Health

Corp.,

5.88%,

6/01/53

66,883

123,000

UnitedHealth

Group,

Inc.,

4.95%,

5/15/62

105,552

830,833

HOTELS,

RESTAURANTS

&

LEISURE

—

0.96%

173,000

McDonald's

Corp.,

4.88%,

12/09/45

156,020

185,000

McDonald's

Corp.,

3.63%,

9/01/49

134,188

224,000

Starbucks

Corp.,

3.50%,

11/15/50

155,949

446,157

HOUSEHOLD

PRODUCTS

—

0.42%

250,000

Haleon

US

Capital

LLC,

4.00%,

3/24/52

193,005

INDEPENDENT

POWER/RENEWABLE

ELECTRICITY

PRODUCERS

—

0.13%

70,000

Tennessee

Valley

Authority,

4.25%,

9/15/52

58,194

INSURANCE

—

5.26%

119,000

SBL

Holdings,

Inc.,

7.20%,

10/30/34

(a) 113,749

91,000

New

York

Life

Insurance

Co.,

6.75%,

11/15/39

(a) 102,185

57,000

Transatlantic

Holdings,

Inc.,

8.00%,

11/30/39

71,592

116,000

Teachers

Insurance

&

Annuity

Ass.

of

America,

6.85%,

12/16/39

(a) 130,599

123,000

Enstar

Finance

LLC,

5.50%,

1/15/42

(H15T5Y

+

400.60 bps)

(b) 120,989

76,000

Securian

Financial

Group,

Inc.,

4.80%,

4/15/48

(a) 65,980

76,000

Berkshire

Hathaway

Finance

Corp.,

4.20%,

8/15/48

63,776

154,000

New

York

Life

Insurance

Co.,

3.75%,

5/15/50

(a) 113,767

132,000

Pacific

LifeCorp,

3.35%,

9/15/50

(a) 88,951

Sterling

Capital

Long

Duration

Corporate

Bond

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

INSURANCE

—

(continued)

$

130,000

Prudential

Financial,

Inc.,

3.70%,

10/01/50

(H15T5Y

+

303.50 bps)

(b) $

118,576

162,000

Northwestern

Mutual

Life

Insurance

Co.

(The),

3.45%,

3/30/51

(a) 112,096

96,000

Fidelity

National

Financial,

Inc.,

3.20%,

9/17/51

58,988

173,000

Global

Atlantic

Fin

Co.,

4.70%,

10/15/51

(H15T5Y

+

379.60 bps)

(a)(b) 169,825

60,000

Berkshire

Hathaway

Finance

Corp.,

3.85%,

3/15/52

46,429

134,000

Athene

Holding

Ltd.,

3.45%,

5/15/52

85,128

113,000

Aon

North

America,

Inc.,

5.75%,

3/01/54

111,355

91,000

Global

Atlantic

Fin

Co.,

6.75%,

3/15/54

(a) 93,226

158,000

Athene

Holding

Ltd.,

6.25%,

4/01/54

155,932

164,000

Corebridge

Financial,

Inc.,

6.38%,

9/15/54

(H15T5Y

+

264.60 bps)

(b) 163,455

165,000

Athene

Holding

Ltd.,

6.63%,

10/15/54

(b) 162,426

36,000

Northwestern

Mutual

Life

Insurance

Co.

(The),

6.17%,

5/29/55

(a) 37,593

150,000

W

R

Berkley

Corp.,

3.15%,

9/30/61

92,108

76,000

Guardian

Life

Insurance

Co.

of

America

(The),

4.88%,

6/19/64

(a) 65,225

115,000

New

York

Life

Insurance

Co.,

4.45%,

5/15/69

(a) 89,512

2,433,462

INTERACTIVE

MEDIA

&

SERVICES

—

0.68%

213,000

Meta

Platforms,

Inc.,

4.45%,

8/15/52

179,582

48,000

Meta

Platforms,

Inc.,

5.40%,

8/15/54

46,812

89,000

Meta

Platforms,

Inc.,

5.75%,

5/15/63

89,966

316,360

INTERNET

&

DIRECT

MARKETING

RETAIL

—

0.80%

225,000

Amazon.com,

Inc.,

2.50%,

6/03/50

135,227

411,000

Amazon.com,

Inc.,

2.70%,

6/03/60

236,042

371,269

IT

SERVICES

—

0.59%

129,000

Visa,

Inc.,

4.30%,

12/14/45

112,136

198,000

Fiserv,

Inc.,

4.40%,

7/01/49

162,100

274,236

MACHINERY

—

0.66%

108,000

Deere

&

Co.,

3.90%,

6/09/42

91,964

111,000

Caterpillar,

Inc.,

3.80%,

8/15/42

91,712

87,000

Cummins,

Inc.,

5.45%,

2/20/54

84,249

36,000

Caterpillar

Inc.,

5.50%,

5/15/55

35,880

303,805

MEDIA

—

1.10%

229,000

Comcast

Corp.,

3.25%,

11/01/39

179,407

182,000

Comcast

Corp.,

2.80%,

1/15/51

109,129

117,000

Comcast

Corp.,

2.89%,

11/01/51

71,204

Sterling

Capital

Long

Duration

Corporate

Bond

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

MEDIA

—

(continued)

$

158,000

Comcast

Corp.,

5.50%,

5/15/64

$

147,143

506,883

METALS

&

MINING

—

1.08%

70,000

Newmont

Corp.,

4.88%,

3/15/42

64,886

142,000

Southern

Copper

Corp.,

5.88%,

4/23/45

140,408

169,000

Steel

Dynamics,

Inc.,

3.25%,

10/15/50

111,413

120,000

Rio

Tinto

Finance

USA

PLC,

5.75%,

3/14/55

120,149

107,000

Nucor

Corp.,

2.98%,

12/15/55

65,087

501,943

MULTI-UTILITIES

—

1.44%

207,000

Sempra,

3.80%,

2/01/38

171,290

169,000

Dominion

Energy,

Inc.,

3.30%,

4/15/41

124,737

95,000

CMS

Energy

Corp.,

4.70%,

3/31/43

82,263

117,000

NiSource,

Inc.,

4.80%,

2/15/44

103,270

121,000

CMS

Energy

Corp.,

3.75%,

12/01/50

108,763

93,000

Dominion

Energy,

Inc.,

4.85%,

8/15/52

78,575

668,898

OIL

&

GAS

PRODUCERS

—

4.61%

40,000

Woodside

Finance

Ltd.,

6.00%,

5/19/35

40,830

89,000

TransCanada

PipeLines

Ltd.,

6.20%,

10/15/37

93,179

110,000

Enterprise

Products

Operating

LLC,

6.13%,

10/15/39

117,116

100,000

Cheniere

Corpus

Christi

Holdings

LLC,

2.74%,

12/31/39

81,389

84,000

Enterprise

Products

Operating

LLC,

6.45%,

9/01/40

92,090

94,000

BP

Capital

Markets

America,

Inc.,

3.06%,

6/17/41

69,382

132,000

APA

Corp.,

5.25%,

2/01/42

(a) 105,588

105,000

Shell

Finance

US,

Inc.,

4.55%,

8/12/43

92,597

80,000

Eastern

Gas

Transmission

&

Storage,

Inc.,

4.80%,

11/01/43

69,391

97,000

DCP

Midstream

Operating

LP,

5.60%,

4/01/44

88,495

109,000

Plains

All

American

Pipeline

LP/PAA

Finance

Corp.,

4.70%,

6/15/44

90,386

165,000

APA

Corp.,

5.35%,

7/01/49

(a) 130,972

227,000

Enterprise

Products

Operating

LLC,

3.30%,

2/15/53

150,104

158,000

Woodside

Finance

Ltd.,

5.70%,

9/12/54

142,674

150,000

Aker

BP

ASA,

5.80%,

10/01/54

(a) 136,745

80,000

ConocoPhillips

Co.,

4.03%,

3/15/62

57,603

200,000

Saudi

Arabian

Oil

Co.,

5.88%,

7/17/64

(a) 182,619

167,000

TotalEnergies

Capital

SA,

5.43%,

9/10/64

(FIXED)

156,236

254,000

ONEOK,

Inc.,

5.85%,

11/01/64

235,478

2,132,874

OIL,

GAS

&

CONSUMABLE

FUELS

—

4.03%

120,000

MPLX

LP,

4.50%,

4/15/38

106,131

56,000

Energy

Transfer

LP,

7.50%,

7/01/38

64,027

290,000

Exxon

Mobil

Corp.,

4.23%,

3/19/40

259,352

Sterling

Capital

Long

Duration

Corporate

Bond

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

OIL,

GAS

&

CONSUMABLE

FUELS

—

(continued)

$

73,000

Williams

Cos.

Inc.

(The),

6.30%,

4/15/40

$

77,488

43,000

Equinor

ASA,

5.10%,

8/17/40

42,408

158,000

Kinder

Morgan

Energy

Partners

LP,

5.63%,

9/01/41

151,785

211,000

Energy

Transfer

LP,

5.00%,

5/15/44

181,817

126,000

Energy

Transfer

LP,

5.35%,

5/15/45

113,477

72,000

Kinder

Morgan,

Inc.,

5.55%,

6/01/45

67,918

93,000

MPLX

LP,

5.20%,

12/01/47

80,998

82,000

MPLX

LP,

4.70%,

4/15/48

66,525

63,000

Energy

Transfer

LP,

5.00%,

5/15/50

52,647

69,000

ONEOK,

Inc.,

7.15%,

1/15/51

74,305

80,000

MPLX

LP,

4.95%,

3/14/52

66,230

88,000

Diamondback

Energy,

Inc.,

4.25%,

3/15/52

66,218

86,000

Targa

Resources

Corp.,

6.25%,

7/01/52

85,164

88,000

Kinder

Morgan,

Inc.,

5.45%,

8/01/52

81,055

89,000

ONEOK,

Inc.,

6.63%,

9/01/53

92,495

70,000

Energy

Transfer

LP,

5.95%,

5/15/54

66,591

72,000

Diamondback

Energy,

Inc.,

5.90%,

4/18/64

66,638

1,863,269

PERSONAL

PRODUCTS

—

0.29%

144,000

Kenvue,

Inc.,

5.05%,

3/22/53

133,941

PHARMACEUTICALS

—

1.36%

158,000

Bristol-Myers

Squibb

Co.,

2.35%,

11/13/40

108,435

96,000

Zoetis,

Inc.,

4.70%,

2/01/43

87,714

166,000

Bristol-Myers

Squibb

Co.,

4.25%,

10/26/49

134,590

207,000

Bristol-Myers

Squibb

Co.,

2.55%,

11/13/50

120,801

88,000

Merck

&

Co.,

Inc.,

2.75%,

12/10/51

54,076

116,000

Bristol-Myers

Squibb

Co.,

6.40%,

11/15/63

125,654

631,270

REIT

—

1.85%

157,000

American

Tower

Trust,

Series

2018-1,

Class

A,

3.65%,

3/15/28

(a) 153,376

113,000

UDR,

Inc.,

3.10%,

11/01/34

95,143

135,000

Kimco

Realty

OP

LLC,

4.25%,

4/01/45

110,853

88,000

Simon

Property

Group

LP,

3.25%,

9/13/49

58,892

40,000

Mid-America

Apartments

LP,

2.88%,

9/15/51

25,169

146,000

American

Homes

Rent

LP,

4.30%,

4/15/52

113,597

71,000

Prologis

LP,

5.25%,

6/15/53

66,588

70,000

Public

Storage

Operating

Co.,

5.35%,

8/01/53

67,180

77,000

VICI

Properties

LP,

6.13%,

4/01/54

75,692

94,000

Realty

Income

Corp.,

5.38%,

9/01/54

90,105

856,595

RETAIL

-

DISCRETIONARY

—

0.24%

110,000

ERAC

USA

Finance

LLC,

5.63%,

3/15/42

(a) 109,536

Sterling

Capital

Long

Duration

Corporate

Bond

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

ROAD

&

RAIL

—

1.36%

$

92,000

CSX

Corp.,

6.00%,

10/01/36

$

98,759

105,000

Union

Pacific

Corp.,

3.60%,

9/15/37

91,202

31,000

Union

Pacific

Corp.,

3.38%,

2/14/42

24,069

76,000

Norfolk

Southern

Corp.,

3.95%,

10/01/42

62,075

87,000

CSX

Corp.,

4.30%,

3/01/48

72,198

56,000

Norfolk

Southern

Corp.,

3.40%,

11/01/49

39,254

245,000

Union

Pacific

Corp.,

2.95%,

3/10/52

156,308

100,000

CSX

Corp.,

4.50%,

11/15/52

84,337

628,202

SEMICONDUCTORS

—

0.77%

177,000

Foundry

JV

Holdco

LLC,

6.40%,

1/25/38

(a) 186,387

259,000

Intel

Corp.,

2.80%,

8/12/41

174,055

360,442

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

—

1.28%

145,000

Broadcom,

Inc.,

3.47%,

4/15/34

(a) 129,528

164,000

Broadcom,

Inc.,

3.50%,

2/15/41

(a) 129,977

201,000

Lam

Research

Corp.,

2.88%,

6/15/50

129,857

123,000

Broadcom,

Inc.,

3.75%,

2/15/51

(a) 92,005

122,000

KLA

Corp.,

4.95%,

7/15/52

111,185

592,552

SOFTWARE

—

3.15%

138,000

Oracle

Corp.,

3.80%,

11/15/37

118,133

111,000

Oracle

Corp.,

3.65%,

3/25/41

87,507

145,000

Oracle

Corp.,

4.00%,

7/15/46

111,831

128,000

Oracle

Corp.,

3.60%,

4/01/50

89,516

285,000

Microsoft

Corp.,

2.53%,

6/01/50

176,122

121,000

Oracle

Corp.,

3.95%,

3/25/51

89,309

173,000

Salesforce,

Inc.,

2.90%,

7/15/51

110,719

101,000

Oracle

Corp.,

6.90%,

11/09/52

112,346

114,000

Synopsys,

Inc.,

5.70%,

4/01/55

113,345

86,000

Oracle

Corp.,

4.38%,

5/15/55

67,314

129,000

Oracle

Corp.,

3.85%,

4/01/60

88,897

380,000

Microsoft

Corp.,

2.68%,

6/01/60

224,697

65,000

Oracle

Corp.,

6.13%,

8/03/65

65,066

1,454,802

SPECIALTY

FINANCE

—

0.51%

296,000

AerCap

Ireland

Capital

DAC,

3.85%,

10/29/41

236,681

SPECIALTY

RETAIL

—

1.22%

117,000

Lowe's

Cos,

Inc.,

5.00%,

4/15/40

109,794

141,000

Home

Depot,

Inc.

(The),

3.13%,

12/15/49

95,152

262,000

Lowe's

Cos,

Inc.,

3.50%,

4/01/51

179,452

291,000

Home

Depot,

Inc.

(The),

2.75%,

9/15/51

178,274

562,672

Sterling

Capital

Long

Duration

Corporate

Bond

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

(continued)

TECHNOLOGY

HARDWARE

—

0.34%

$

79,000

Dell

International

LLC

/

EMC

Corp.,

5.40%,

4/15/34

$

80,454

111,000

Dell

International

LLC

/

EMC

Corp.,

3.45%,

12/15/51

76,071

156,525

TECHNOLOGY

HARDWARE,

STORAGE

&

PERIPHERALS

—

1.28%

191,000

Apple,

Inc.,

3.85%,

5/04/43

159,979

203,000

Apple,

Inc.,

3.85%,

8/04/46

164,309

180,000

Apple,

Inc.,

2.65%,

5/11/50

112,910

248,000

Apple,

Inc.,

2.70%,

8/05/51

155,123

592,321

TECHNOLOGY

SERVICES

—

0.14%

80,000

Kyndryl

Holdings,

Inc.,

4.10%,

10/15/41

63,713

TELECOMMUNICATIONS

—

1.63%

259,000

T-Mobile

USA,

Inc.,

4.38%,

4/15/40

229,496

73,000

Telefonica

Emisiones

SA,

5.21%,

3/08/47

64,586

159,000

T-Mobile

USA,

Inc.,

5.65%,

1/15/53

153,830

169,000

T-Mobile

USA,

Inc.,

3.60%,

11/15/60

112,688

196,000

T-Mobile

USA,

Inc.,

5.80%,

9/15/62

191,992

752,592

TOBACCO

—

0.71%

271,000

Philip

Morris

International,

Inc.,

4.38%,

11/15/41

236,209

123,000

Altria

Group,

Inc.,

3.88%,

9/16/46

90,969

327,178

TOBACCO

&

CANNABIS

—

0.64%

69,000

BAT

Capital

Corp.,

4.39%,

8/15/37

61,701

141,000

BAT

Capital

Corp.,

4.54%,

8/15/47

113,903

109,000

BAT

Capital

Corp.,

7.08%,

8/02/53

121,410

297,014

TRANSPORTATION

&

LOGISTICS

—

1.13%

75,132

Polar

Tankers,

Inc.,

5.95%,

5/10/37

(a) 78,285

88,000

Burlington

Northern

Santa

Fe

LLC,

4.95%,

9/15/41

82,803

172,000

Burlington

Northern

Santa

Fe

LLC,

4.90%,

4/01/44

160,646

214,000

Burlington

Northern

Santa

Fe

LLC,

5.20%,

4/15/54

202,544

524,278

WIRELESS

TELECOMMUNICATION

SERVICES

—

0.59%

200,000

America

Movil

SAB

de

CV,

6.13%,

3/30/40

208,649

84,000

Vodafone

Group

PLC,

4.25%,

9/17/50

65,472

274,121

Total

(Cost $44,655,003)

41,825,068

Principal

Amount

Fair

Value

U.S.

TREASURY

BONDS

&

NOTES

—

6.80%

169,200

United

States

Treasury

Note,

4.00 %

,

2/15/34

167,435

713,400

United

States

Treasury

Bond,

2.00 %

,

11/15/41

490,630

Sterling

Capital

Long

Duration

Corporate

Bond

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

U.S.

TREASURY

BONDS

&

NOTES

—

(continued)

$

3,536,200

United

States

Treasury

Bond,

2.50 %

,

2/15/45

$

2,489,430

Total

(Cost $3,159,275)

3,147,495

Shares

Fair

Value

MONEY

MARKET

FUNDS

—

1.43%

663,388

Federated

Hermes

Treasury

Obligations

Fund,

Institutional

Shares,

4.18%

(e) 663,388

Total

Money

Market

Funds

(Cost

$663,388)

663,388

Total

Investments—

98.74%

(Cost

$48,527,666)

45,685,951

Other

Assets

in

Excess

of

Liabilities

—

1.26%

582,841

NET

ASSETS

—

100.00%

$

46,268,792

(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

June

30,

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

June

30,

2025

is

$258,

686,

which

represents

0.6%

of

net

assets.

(e) Represents

the

current

yield

as

of

report

date.

MTN

Medium

Term

Note

Sterling

Capital

Quality

Income

Fund

Schedule

of

Investments

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

—

0.16%

REIT

—

0.16%

$

250,000

American

Tower

Trust,

Series

2018-1,

Class

A,

3.65%,

3/15/28

(a)(b) $

244,229

Total

(Cost $250,000)

244,229

Principal

Amount

Fair

Value

ASSET

BACKED

SECURITIES

—

14.31%

509,000

Carvana

Auto

Receivables

Trust,

Series

P2

,

Class

B,

1.27%,

3/10/27

498,343

600,000

Carvana

Auto

Receivables

Trust,

Series

P3

,

Class

B,

1.42%,

8/10/27

576,972

1,309,000

BANK5

Trust,

Series

2024-5YR5

,

6.27%,

2/15/29

1,364,024

1,250,000

Avis

Budget

Rental

Car

Funding

AESOP

LLC,

Series

4A

,

Class

A,

5.49%,

6/20/29

(a) 1,283,466

415,000

OneMain

Direct

Auto

Receivables

Trust,

Series

1A

,

Class

A,

5.41%,

11/14/29

(a) 418,837

1,000,000

Avis

Budget

Rental

Car

Funding

AESOP

LLC,

Series

8A

,

Class

A,

6.02%,

2/20/30

(a) 1,045,223

1,000,000

Hertz

Vehicle

Financing

III

LLC,

Series

4A

,

Class

A,

6.15%,

3/25/30

(a) 1,042,713

29,296

United

States

Small

Business

Administration,

Series

20D

,

Class

1,

4.36%,

4/01/30

(b) 29,266

1,316,006

Dryden

Senior

Loan

Fund,

Series

50A

,

Class

A1R,

5.52%,

7/15/30

((TSFR3M

+

26.20 bps)

+

bps)

(a)(c) 1,316,112

1,009,000

Dryden

CLO

Ltd.,

Series

53A

,

Class

BR,

–%,

1/15/31

(a)(c)(d)

1,009,000

994,000

Hertz

Vehicle

Financing

III

LLC,

Series

2A

,

Class

A,

5.48%,

1/27/31

(a) 1,010,572

78,024

Saxon

Asset

Securities

Trust,

Series

,

Class

M1,

5.33%,

12/26/34

(TSFR1M

+

bps)

(c) 75,658

1,486,000

CIFC

Funding

2021-VII

Ltd.,

Series

7A

,

Class

A1,

5.67%,

1/23/35

(a) 1,486,267

1,500,000

Neuberger

Berman

Loan

Advisers

CLO

Ltd.,

Series

47A

,

Class

A,

5.54%,

4/14/35

(TSFR3M

+

bps)

(a)(c) 1,503,585

1,012,000

OneMain

Financial

Issuance

Trust,

Series

2A

,

Class

A,

3.14%,

10/14/36

(a)(b) 986,875

232,466

BX

Trust,

Series

2021-RISE

,

Class

C,

5.88%,

11/15/36

(a) 231,888

1,500,000

Reese

Parl

CLO

Ltd.,

Series

1A

,

Class

ARR,

5.58%,

1/15/38

(TSFR3M

+

bps)

(a)(c) 1,505,070

1,326,845

Hilton

Grand

Vacations

Trust,

Series

2024-3A

,

Class

A,

4.98%,

8/27/40

(a) 1,339,941

468,809

Sierra

Timeshare

Receivables

Funding

LLC,

Series

3A

,

Class

A,

4.83%,

8/20/41

(a) 470,589

Sterling

Capital

Quality

Income

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

ASSET

BACKED

SECURITIES

—

(continued)

$

1,854,810

Tricon

Residential

Trust,

Series

2025-SFR

,

Class

A,

5.43%,

3/17/42

(TSFR1M

+

bps)

(a)(c) $

1,855,100

914,130

MVW

LLC,

Series

2024-2

,

Class

A,

4.43%,

3/20/42

(a) 911,958

167,694

SoFi

Professional

Loan

Program

Trust,

Series

A

,

Class

A2FX,

2.54%,

5/15/46

(a)(b) 161,310

1,475,229

Government

National

Mortgage

Association,

Series

,

Class

AW,

5.89%,

2/20/51

1,518,659

51,000

BMO

Mortgage

Trust,

Series

2023-5C1

,

7.12%,

8/15/56

54,095

178,000

BANK5

Trust,

Series

2023-5YR3

,

Class

AS,

7.32%,

9/15/56

(c) 190,303

252,000

BANK5

Trust,

Series

2024-5YR6

,

Class

A3,

6.23%,

5/15/57

265,306

240,000

BANK5

Trust,

Series

2024-5YR6

,

Class

AS,

6.79%,

5/15/57

(c) 254,736

Total

(Cost $22,352,796)

22,405,868

Principal

Amount

Fair

Value

COMMERCIAL

MORTGAGE-BACKED

SECURITIES

—

8.61%

318,473

FRESB

Mortgage

Trust,

Series

2017-SB36,

Class

A10F,

2.88%,

7/25/27

(b) 309,775

85,000

Benchmark

Mortgage

Trust,

Series

V6,

Class

A3,

5.93%,

3/15/29

88,684

553,000

Benchmark

Mortgage

Trust,

Series

V6,

Class

AS,

6.38%,

3/15/29

577,700

140,000

Freddie

Mac

Multifamily

Structured

Pass

Through,

Series

K159,

Class

A2,

3.95%,

11/25/30

138,287

9,192

CSFB

Mortgage-Backed

Pass-Through

Certificates,

Series

1,

Class

2A1,

6.50%,

2/25/34

9,192

22,345

CHL

Mortgage

Pass-Through

Trust,

Series

3,

Class

A4,

5.75%,

4/25/34

22,229

8,972

Citigroup

Mortgage

Loan

Trust,

Inc.,

Series

NCM2,

Class

3CB2,

6.50%,

8/25/34

8,950

1,000,000

Freddie

Mac

Multifamily

Structured

Pass

Through,

Series

K1522,

Class

A2,

2.36%,

10/25/36

792,881

250,708

ELP

Commercial

Mortgage

Trust,

Series

2021-ELP,

Class

C,

5.75%,

11/15/38

(a) 250,395

237,472

BX

Commercial

Mortgage

Trust,

Series

2021-ACNT,

Class

C,

5.93%,

11/15/38

(a) 237,175

232,582

SMR

Mortgage

Trust,

Series

2022-IND,

Class

A,

5.96%,

2/15/39

(a) 232,985

75,265

JP

Morgan

Chase

Commercial

Mortgage,

Series

C3,

Class

B,

5.01%,

2/15/46

(a)(c) 72,743

6,415

COMM

Mortgage

Trust,

3.69%,

8/10/47

6,344

523

GS

Mortgage

Securities

Trust,

3.93%,

9/12/47

521

Sterling

Capital

Quality

Income

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

COMMERCIAL

MORTGAGE-BACKED

SECURITIES

—

(continued)

156,665

CSAIL

Commercial

Mortgage

Trust,

Series

2015-C3,

Class

A4,

3.72%,

8/15/48

(b) 156,048

644,000

Wells

Fargo

Commercial

Mortgage

Trust,

Series

P2,

Class

A4,

3.81%,

12/15/48

640,134

589,000

CD

Mortgage

Trust,

Series

2016-CD2,

Class

A4,

3.53%,

11/10/49

(b)(c) 568,651

500,000

GS

Mortgage

Securities

Trust,

Series

2016-GS4,

Class

A4,

3.44%,

11/15/49

(b) 491,251

185,000

JP

Morgan

Chase

Commercial

Mortgage,

Series

JP4,

Class

A4,

3.65%,

12/15/49

182,067

500,000

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust,

Series

C32,

Class

A4,

3.72%,

12/15/49

(b) 493,691

50,000

Wells

Fargo

Commercial

Mortgage

Trust,

Series

C37,

Class

A5,

3.79%,

12/15/49

49,299

700,000

CD

Mortgage

Trust,

Series

2017-CD3,

Class

A4,

3.63%,

2/10/50

673,750

250,000

COMM

Mortgage

Trust,

Series

COR2,

Class

A3,

3.51%,

9/10/50

(b) 243,765

300,000

Wells

Fargo

Commercial

Mortgage

Trust,

Series

C40,

Class

A4,

3.58%,

10/15/50

293,841

435,000

Morgan

Stanley

Capital

I

Trust,

Series

H3,

Class

A5,

4.18%,

7/15/51

428,889

325,000

BBCMS

Mortgage

Trust,

Series

C7,

Class

A5,

2.04%,

4/15/53

288,053

64,000

GS

Mortgage

Securities

Trust,

Series

GC47,

Class

A5,

2.38%,

5/12/53

57,690

220,800

Wells

Fargo

Commercial

Mortgage

Trust,

Series

C56,

Class

A5,

2.45%,

6/15/53

200,314

589,492

Benchmark

Mortgage

Trust,

Series

B18,

Class

A5,

1.93%,

7/15/53

513,584

659,333

Morgan

Stanley

Capital

I

Trust,

Series

HR8,

Class

A4,

2.04%,

7/15/53

579,634

300,000

Wells

Fargo

Commercial

Mortgage

Trust,

Series

C58,

Class

A4,

2.09%,

7/15/53

262,084

500,000

Wells

Fargo

Commercial

Mortgage

Trust,

Series

C57,

Class

A4,

2.12%,

8/15/53

444,800

250,000

BANK

Trust,

Series

2020-BNK29,

Class

A4,

2.00%,

11/15/53

213,811

500,000

GS

Mortgage

Securities

Trust,

Series

GSA2,

Class

A5,

2.01%,

12/12/53

(b) 435,456

1,250,000

Benchmark

Mortgage

Trust,

Series

B21,

Class

A5,

1.98%,

12/17/53

(b) 1,083,225

100,000

CFCRE

Commercial

Mortgage

Trust,

Series

C7,

Class

A3,

3.84%,

12/10/54

98,588

Sterling

Capital

Quality

Income

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

COMMERCIAL

MORTGAGE-BACKED

SECURITIES

—

(continued)

80,000

Benchmark

Mortgage

Trust,

Series

V2,

Class

AS,

6.54%,

5/15/55

83,244

209,000

Benchmark

Mortgage

Trust,

Series

2024-V7,

Class

A3,

6.23%,

5/15/56

(c) 220,113

167,000

Benchmark

Mortgage

Trust,

Series

2024-V7,

Class

AS,

6.53%,

5/15/56

175,295

1,000,000

BANK5

Trust,

Series

2023-5YR4,

Class

AS,

7.27%,

12/15/56

(c) 1,070,152

220,000

Benchmark

Mortgage

Trust,

Series

V5,

Class

A3,

5.81%,

1/10/57

228,366

75,000

BBCMS

Mortgage

Trust,

Series

5C25,

Class

A3,

5.95%,

3/15/57

78,283

51,000

BBCMS

Mortgage

Trust,

Series

5C25,

Class

AS,

6.36%,

3/15/57

53,302

436,141

Citigroup

Commercial

Mortgage

Trust,

Series

GC33,

Class

A4,

3.78%,

9/10/58

434,647

Total

(Cost $14,422,290)

$

13,489,888

Principal

Amount

Fair

Value

COLLATERALIZED

MORTGAGE

OBLIGATIONS

—

30.28%

151,895

Fannie

Mae,

Series

2013-91,

Class

DV,

3.00%,

10/25/26

150,632

215,000

Freddie

Mac,

Series

4097,

Class

CU,

1.50%,

8/15/27

207,353

496,755

Freddie

Mac,

Series

4136,

Class

HZ,

3.50%,

11/15/27

492,377

208,000

BANK5,

Series

2023-5YR4,

Class

B,

7.61%,

12/15/28

223,634

298,191

Ginnie

Mae,

Series

79,

Class

V,

2.80%,

3/16/29

285,506

142,231

Freddie

Mac

Principal

Strips,

Series

219,

–%,

3/01/32

128,710

44,753

Freddie

Mac,

Series

2485,

Class

WG,

6.00%,

8/15/32

46,636

119,000

Freddie

Mac,

Series

4160,

Class

HH,

2.50%,

12/15/32

(b) 112,328

112,478

Fannie

Mae,

Series

2003-21,

Class

OW,

4.00%,

3/25/33

109,425

28,006

Fannie

Mae,

Series

2003-19,

Class

AR,

5.50%,

3/25/33

28,897

108,006

Freddie

Mac,

Series

2768,

Class

PC,

4.00%,

3/15/34

104,611

41,203

Ginnie

Mae,

Series

2004-69,

Class

GC,

5.50%,

4/20/34

41,570

127,292

Freddie

Mac,

Series

3042,

Class

PZ,

5.75%,

9/15/35

133,772

331,040

Ginnie

Mae,

Series

2005-60,

Class

WZ,

5.50%,

9/20/35

338,101

766,638

Freddie

Mac

Principal

Strips,

Series

236,

–%,

4/01/36

631,763

569,122

Fannie

Mae,

Series

59,

Class

DH,

6.50%,

7/25/36

608,289

147,291

Ginnie

Mae,

Series

2007-57,

Class

ZA,

5.75%,

10/20/37

149,209

587,901

Fannie

Mae,

Series

2008-2,

Class

PH,

5.50%,

2/25/38

597,799

63,160

Freddie

Mac,

Series

3440,

Class

EM,

5.00%,

4/15/38

64,805

Sterling

Capital

Quality

Income

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

COLLATERALIZED

MORTGAGE

OBLIGATIONS

—

(continued)

527,000

Fannie

Mae,

Series

2009-28,

Class

HX,

5.00%,

5/25/39

527,375

86,425

Freddie

Mac,

Series

3816,

Class

HM,

4.50%,

5/15/40

86,804

500,000

Freddie

Mac,

Series

3714,

Class

PB,

4.75%,

8/15/40

(b) 497,249

1,000,000

Ginnie

Mae,

Series

81,

Class

AL,

4.50%,

8/20/40

987,131

Freddie

Mac,

Series

3803,

Class

PJ,

4.25%,

1/15/41

825,833

Fannie

Mae,

Series

2010-150,

Class

YL,

4.00%,

1/25/41

752,799

200,000

Freddie

Mac,

Series

3815,

Class

TB,

4.50%,

2/15/41

193,368

42,335

Freddie

Mac,

Series

4215,

Class

LD,

2.00%,

7/15/41

41,027

918,734

Freddie

Mac,

Series

3895,

Class

PW,

4.50%,

7/15/41

915,250

750,000

Ginnie

Mae,

Series

2011-135,

Class

PG,

3.00%,

10/16/41

670,179

25,291

Freddie

Mac,

Series

4293,

Class

MH,

3.00%,

12/15/41

24,399

843,637

Fannie

Mae,

Series

2011-131,

Class

PB,

4.50%,

12/25/41

839,364

220,879

Freddie

Mac,

Series

4094,

Class

ME,

2.50%,

8/15/42

196,674

515,500

Freddie

Mac,

Series

4088,

Class

CD,

3.00%,

8/15/42

421,607

2,381,804

Freddie

Mac,

Series

5427,

Class

HZ,

3.50%,

8/15/42

1,950,920

628,000

Freddie

Mac,

Series

4135,

Class

AY,

2.00%,

11/15/42

518,684

724,000

Freddie

Mac,

Series

4125,

Class

JC,

2.50%,

11/15/42

567,634

98,745

Freddie

Mac,

Series

4173,

Class

NB,

3.00%,

3/15/43

90,539

75,801

Freddie

Mac,

Series

4352,

Class

ZX,

4.00%,

4/15/44

72,611

1,696,842

Freddie

Mac

REMICS,

Series

5419,

Class

Z,

4.00%,

4/15/44

1,466,113

1,000,000

Freddie

Mac,

Series

4507,

Class

GB,

3.00%,

9/15/45

874,427

3,102,236

Fannie

Mae,

Series

2015-65,

Class

CZ,

3.50%,

9/25/45

2,671,403

95,588

Fannie

Mae,

Series

2016-85,

Class

GA,

2.50%,

10/25/45

88,588

475,000

Freddie

Mac,

Series

4650,

Class

JE,

3.00%,

7/15/46

422,387

1,165,511

Fannie

Mae,

Series

73,

Class

DZ,

3.00%,

10/25/46

(b) 1,018,551

487,076

Ginnie

Mae,

Series

126,

Class

A,

2.50%,

11/16/46

462,533

712,000

Ginnie

Mae,

Series

2017-75,

Class

DL,

3.00%,

3/20/47

596,948

1,495,000

Fannie

Mae,

Series

2017-42,

Class

HL,

3.00%,

6/25/47

1,371,092

640,903

Fannie

Mae,

Series

20,

Class

KL,

3.50%,

1/25/48

528,959

928,004

Freddie

Mac,

Series

4795,

Class

JB,

4.00%,

5/15/48

879,802

2,117,296

Freddie

Mac,

Series

4841,

Class

PZ,

4.50%,

9/15/48

2,052,786

863,000

Ginnie

Mae,

Series

2019-6,

Class

JK,

3.50%,

1/20/49

766,783

Sterling

Capital

Quality

Income

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

COLLATERALIZED

MORTGAGE

OBLIGATIONS

—

(continued)

3,768,887

Government

National

Mortgage

Association,

Series

90,

Class

AB,

3.00%,

7/20/49

3,350,475

712,840

Freddie

Mac,

Series

4941,

Class

MB,

3.00%,

7/25/49

644,524

282,484

Chase

Home

Lending

Mortgage

Trust,

Series

2019-

ATR2,

Class

A3,

3.50%,

8/25/49

(a) 256,380

662,399

Fannie

Mae,

Series

2015-65,

Class

BL,

3.50%,

9/25/49

539,396

3,293,168

Freddie

Mac,

Series

4938,

Class

KA,

2.50%,

10/25/49

2,868,807

760,079

Fannie

Mae,

Series

5,

Class

MG,

3.50%,

2/25/50

693,941

438,867

Fannie

Mae,

Series

12,

Class

LC,

2.00%,

3/25/50

363,330

312,919

Fannie

Mae,

Series

2020-10,

Class

Q,

3.00%,

3/25/50

267,188

1,500,000

Fannie

Mae,

Series

56,

Class

AQ,

2.00%,

8/25/50

1,183,628

344,214

Freddie

Mac,

Series

5115,

Class

G,

2.50%,

9/25/50

280,562

729,719

Freddie

Mac

REMICS,

Series

5067,

Class

DP,

2.00%,

1/25/51

621,088

1,460,198

SMB

Private

Education

Loan

Trust,

Series

2024-F,

Class

A1A,

5.06%,

3/16/54

(a) 1,475,381

1,495,000

Benchmark

Mortgage

Trust,

Series

2023-B39,

Class

A5,

5.75%,

7/15/56

1,575,137

1,500,000

BANK

Trust,

Series

2023-BNK46,

Class

A4,

5.75%,

8/15/56

1,570,688

1,500,000

BMO

Mortgage

Trust,

Series

2023-C7,

Class

A5,

6.16%,

12/15/56

1,605,637

1,500,000

BANK

Trust,

Series

2024-BNK47,

Class

A5,

5.72%,

6/15/57

1,577,441

1,500,000

Wells

Fargo

Commercial

Mortgage

Trust,

Series

2024-

C63,

Class

A5,

5.31%,

8/15/57

1,531,669

Total

(Cost $48,158,843)

$

47,415,021

Principal

Amount

Fair

Value

MORTGAGE-BACKED

SECURITIES

—

41.14%

Fannie

Mae

—

25.26%

216,592

4.50%,

3/01/34,

Pool

#CA3294

219,003

44,714

5.50%,

6/01/38,

Pool

#984277

(b) 45,842

24,956

5.50%,

8/01/38,

Pool

#995072

25,604

31,811

4.50%,

9/01/39,

Pool

#AC1830

31,739

30,353

4.50%,

10/01/40,

Pool

#AE4855

30,228

56,068

3.50%,

2/01/41,

Pool

#AH5646

52,714

88,081

4.00%,

3/01/41,

Pool

#AH4008

85,163

26,398

4.50%,

6/01/41,

Pool

#AC9298

26,074

62,372

5.00%,

7/01/41,

Pool

#AI5595

63,097

109,919

4.00%,

9/01/41,

Pool

#AJ1717

106,106

Sterling

Capital

Quality

Income

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

MORTGAGE-BACKED

SECURITIES

—

(continued)

Fannie

Mae

—

(continued)

1,658,409

6.00%,

10/01/41,

Pool

#FS4183

1,738,416

1,493,698

2.00%,

12/01/41,

Pool

#MA4501

1,285,789

467,861

6.00%,

8/01/43,

Pool

#MA5129

479,022

34,353

4.50%,

10/01/44,

Pool

#MA2066

33,575

97,437

4.00%,

12/01/44,

Pool

#MA2127

92,660

98,496

4.50%,

1/01/45,

Pool

#MA2158

96,306

114,984

3.50%,

3/01/45,

Pool

#AS4552

106,888

100,662

4.00%,

10/01/45,

Pool

#AL7487

95,488

724,742

3.00%,

10/01/46,

Pool

#BC4764

642,900

68,907

4.00%,

11/01/46,

Pool

#MA2808

65,283

93,334

3.00%,

2/01/47,

Pool

#BE2329

82,674

46,531

4.00%,

5/01/47,

Pool

#BE9598

43,680

44,392

4.50%,

11/01/47,

Pool

#BM3286

43,482

2,933,034

4.00%,

12/01/47,

Pool

#BM5019

2,790,805

51,496

4.50%,

5/01/48,

Pool

#CA1711

49,950

1,287,615

3.50%,

6/01/50,

Pool

#CA6097

1,169,641

180,357

3.00%,

7/01/50,

Pool

#CA6422

156,871

173,423

3.00%,

7/01/50,

Pool

#CA6421

150,849

663,273

3.00%,

8/01/50,

Pool

#FS0973

587,284

818,085

3.50%,

9/01/50,

Pool

#FS5284

743,933

404,522

2.50%,

3/01/51,

Pool

#FM6523

338,779

285,003

3.00%,

5/01/51,

Pool

#FM7346

248,870

906,822

2.50%,

8/01/51,

Pool

#FM8438

761,519

1,073,254

4.00%,

8/01/51,

Pool

#FS1976

1,016,070

1,617,137

3.00%,

9/01/51,

Pool

#FM8821

1,412,101

263,714

3.00%,

11/01/51,

Pool

#CB2170

228,858

670,917

3.50%,

2/01/52,

Pool

#MA4550

608,668

764,696

3.00%,

3/01/52,

Pool

#BV4143

667,550

590,236

3.50%,

4/01/52,

Pool

#FS1260

536,621

2,951,798

3.50%,

5/01/52,

Pool

#CB3593

2,674,853

545,056

4.50%,

6/01/52,

Pool

#FS2157

527,481

3,228,024

4.50%,

10/01/52,

Pool

#BW9905

3,101,548

415,617

5.00%,

11/01/52,

Pool

#CB5278

409,240

490,066

5.50%,

3/01/53,

Pool

#FS3925

494,074

1,152,780

6.00%,

6/01/53,

Pool

#FS6616

1,172,462

Sterling

Capital

Quality

Income

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

MORTGAGE-BACKED

SECURITIES

—

(continued)

Fannie

Mae

—

(continued)

3,565,660

4.50%,

9/01/53,

Pool

#FS8829

3,417,252

1,307,450

6.00%,

4/01/54,

Pool

#FA0566

1,334,305

2,768,081

6.00%,

5/01/54,

Pool

#FM2472

2,837,742

3,282,076

5.00%,

10/01/54,

Pool

#FS9535

3,221,296

3,364,707

5.50%,

11/01/54,

Pool

#FS9455

3,385,153

$

39,535,508

Federal

Home

Loan

Banks

—

0.31%

550,000

1.90%,

10/07/31

479,999

—

Freddie

Mac

—

15.31%

26,017

4.00%,

11/01/32,

Pool

#ZS8993

25,814

117,825

4.00%,

5/01/37,

Pool

#ZA2461

116,035

15,429

5.50%,

10/01/39,

Pool

#ZI9359

15,811

25,712

5.00%,

4/01/40,

Pool

#ZI9910

26,031

44,203

5.50%,

4/01/40,

Pool

#ZA1042

45,495

144,368

2.00%,

8/01/40,

Pool

#RB5076

126,253

19,643

5.00%,

8/01/40,

Pool

#ZA1056

19,887

51,101

4.00%,

11/01/40,

Pool

#ZJ0654

49,392

53,789

4.00%,

12/01/40,

Pool

#ZJ0811

52,007

127,281

3.50%,

8/01/42,

Pool

#ZL3508

119,388

430,189

6.00%,

2/01/43,

Pool

#RB5221

440,160

161,625

3.50%,

3/01/43,

Pool

#ZT1107

150,422

97,362

3.50%,

3/01/45,

Pool

#ZT1164

90,611

76,588

3.00%,

1/01/46,

Pool

#ZS4646

68,112

81,340

4.00%,

4/01/46,

Pool

#ZM1015

77,083

78,671

3.50%,

12/01/47,

Pool

#ZM5123

72,063

1,604,450

4.00%,

6/01/48,

Pool

#ZT0541

1,519,240

544,572

2.50%,

7/01/51,

Pool

#QC4230

458,072

857,416

3.00%,

8/01/51,

Pool

#SD8162

742,928

904,454

3.00%,

2/01/52,

Pool

#RA6664

787,813

615,532

4.50%,

6/01/52,

Pool

#SD1265

593,397

981,118

4.50%,

8/01/52,

Pool

#SD1515

943,647

672,355

5.00%,

10/01/52,

Pool

#SD1710

662,246

1,383,158

4.00%,

12/01/52,

Pool

#SD5808

1,296,922

587,291

5.00%,

1/01/53,

Pool

#RA8382

578,037

Sterling

Capital

Quality

Income

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

MORTGAGE-BACKED

SECURITIES

—

(continued)

Freddie

Mac

—

(continued)

3,436,300

5.00%,

2/01/53,

Pool

#SD2473

3,384,160

831,639

5.50%,

2/01/53,

Pool

#QF8052

836,775

1,036,246

4.50%,

5/01/53,

Pool

#SD2952

1,000,926

895,996

5.00%,

6/01/53,

Pool

#SD3128

882,822

869,740

5.50%,

6/01/53,

Pool

#SD3136

873,698

1,114,498

6.00%,

7/01/53,

Pool

#SD3223

1,141,517

678,792

5.50%,

6/01/54,

Pool

#SD5479

682,068

2,731,455

6.00%,

9/01/54,

Pool

#SD6558

2,786,553

3,324,060

5.50%,

11/01/54,

Pool

#SD6622

3,340,105

$

24,005,490

Ginnie

Mae

II

—

0.26%

6,319

4.00%,

12/20/40,

Pool

#755678

6,011

436,451

4.00%,

7/20/52,

Pool

#786280

407,287

413,298

Total

(Cost $65,643,754)

64,434,295

Principal

Amount

Fair

Value

U.S.

GOVERNMENT

&

AGENCIES

—

0.79%

1,227,631

Fannie

Mae

Pool,

5.50 %

,

2/01/54

1,232,871

Total

(Cost $1,223,030)

1,232,871

Principal

Amount

Fair

Value

U.S.

TREASURY

BONDS

&

NOTES

—

3.75%

517,000

United

States

Treasury

Note,

4.13 %

,

11/15/32

520,575

2,251,000

United

States

Treasury

Note,

4.00 %

,

2/15/34

2,227,522

2,644,100

United

States

Treasury

Bond,

2.38 %

,

2/15/42

(b) 1,923,583

2,158,200

United

States

Treasury

Bond,

1.88 %

,

11/15/51

(b) 1,200,667

Total

(Cost $6,485,772)

5,872,347

Shares

Fair

Value

MONEY

MARKET

FUNDS

—

1.23%

1,924,927

Federated

Hermes

Treasury

Obligations

Fund,

Institutional

Shares,

4.18%

(e) 1,924,927

Sterling

Capital

Quality

Income

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Shares

Fair

Value

MONEY

MARKET

FUNDS

—

1.23%

-

continued

Total

Money

Market

Funds

(Cost

$1,924,927)

$

1,924,927

Total

Investments—

100.32%

(Cost

$160,541,412)

157,099,446

Liabilities

in

Excess

of

Other

Assets

—

(0.32)%

(503,777)

NET

ASSETS

—

100.00%

$

156,595,669

(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) 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

June

30,

2025is

$X,

which

represents

X%

of

net

assets.

(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

June

30,

2025. The

maturity

date

reflected

is

the

final

maturity

date.

(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

North

Carolina

Intermediate

Tax-Free

Fund

Schedule

of

Investments

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

MUNICIPAL

BONDS

—

96.43%

North

Carolina

—

96.43%

$

575,000

Brunswick

County,

NC,

Enterprise

Systems

Revenue,

Callable

2/1/33

@

,

5.00 %,

2/1/41

$

609,836

500,000

Brunswick

County,

NC,

Enterprise

Systems

Revenue,

Callable

2/1/33

@

,

5.00 %,

2/1/42

526,546

1,100,000

Cabarrus

County,

NC,

Refunding

Revenue

Bonds

Series

A

,

5.00 %,

6/1/31

1,231,917

1,695,000

Charlotte,

NC,

Current

Refunding

G.O.

Series

A

,

5.00 %,

6/1/29

1,846,106

2,000,000

Charlotte,

NC,

Current

Refunding

G.O.

Series

A,

Callable

6/1/29

@

,

5.00 %,

6/1/34

2,131,636

2,000,000

Charlotte,

NC,

Public

Facilities,

Certification

of

Participation

Series

B,

Callable

12/1/31

@

,

5.00 %,

12/1/32

2,231,307

2,275,000

Charlotte,

NC,

Recreational

Facilities

Improvements

Revenue,

Callable

12/1/28

@

,

5.00 %,

12/1/33

2,402,532

1,520,000

Charlotte,

NC,

Recreational

Facilities

Improvements

Revenue,

Callable

12/1/28

@

,

5.00 %,

12/1/34

1,599,232

2,650,000

Charlotte,

NC,

Water

&

Sewer

System

Revenue,

Refunding

Revenue

Bonds

Series

A,

Callable

7/1/32

@

,

5.00 %,

7/1/39

2,846,100

1,590,000

Chatham

County,

NC,

Refunding

Revenue

(County

Guaranteed)

,

5.00 %,

12/1/28

1,645,902

1,760,000

City

of

Asheville

NC

Water

System

Revenue

,

5.00 %,

8/1/42

1,857,948

1,720,000

City

of

Fayetteville

NC

Public

Works

Comm.

Rev.

,

5.00 %,

3/1/40

1,836,300

2,000,000

City

of

Greensboro

NC

,

5.00 %,

4/1/41

2,120,553

2,100,000

Concord,

NC,

Recreational

Facility

Improvements

G.O.,

Callable

9/1/33

@

,

5.00 %,

9/1/34

2,386,033

500,000

County

of

Ashe

NC

,

5.00 %,

6/1/39

544,277

720,000

County

of

Ashe

NC

,

5.00 %,

6/1/38

790,283

2,210,000

County

of

Forsyth,

NC

,

5.00 %,

6/1/30

2,440,508

2,000,000

County

of

Guilford

NC

,

5.00 %,

3/1/32

2,260,897

2,060,000

County

of

Guilford

NC

,

5.00 %,

3/1/39

2,267,154

2,000,000

County

of

Iredell

NC

,

5.00 %,

4/1/37

2,252,094

2,000,000

County

of

Mecklenburg

NC

,

5.00 %,

2/1/31

2,235,350

1,795,000

County

of

Transylvania,

NC

,

5.00 %,

4/1/30

1,977,196

1,450,000

County

of

Wake

NC

,

5.00 %,

4/1/39

1,594,450

1,150,000

Currituck

County,

NC,

Callable

4/1/33

@

,

5.00 %,

4/1/36

1,270,945

1,150,000

Currituck

County,

NC,

Callable

4/1/33

@

,

5.00 %,

4/1/37

1,262,387

Sterling

Capital

North

Carolina

Intermediate

Tax-Free

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

MUNICIPAL

BONDS

—

(continued)

North

Carolina

—

(continued)

$

1,000,000

Currituck

County,

NC,

Callable

4/1/33

@

,

5.00 %,

4/1/38

$

1,088,308

1,890,000

Durham

County,

NC,

Current

Refunding

G.O.

,

5.00 %,

6/1/29

2,057,753

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

1,013,141

1,690,000

Fayetteville,

NC,

Public

Works

Commission,

Electric

Light

&

Power

Improvements

Revenue,

Callable

3/1/24

@

,

5.00 %,

3/1/29

1,785,417

1,180,000

Fuquay-Varina

NC

Combined

Utilities

Revenue

,

5.00 %,

2/1/38

1,293,330

2,000,000

Greensboro,

NC,

Recreational

Facility

Improvements

G.O.

Series

B,

Callable

4/1/32

@

,

5.00 %,

4/1/40

2,135,871

880,000

Johnston

County,

NC,

Water

Utility

Improvements

Revenue

Bonds,

Callable

4/1/33

@

,

5.00 %,

4/1/39

949,724

1,000,000

Macon

County,

NC

,

5.00 %,

10/1/41

1,069,985

1,195,000

Monroe,

NC,

Advanced

Refunding

Revenue

Bonds,

Callable

3/1/26

@

,

5.00 %,

3/1/29

1,210,396

1,000,000

North

Carolina

Agricultural

&

Technical

State

University,

Refunding

Revenue

Series

A,

Callable

10/1/25

@

,

5.00 %,

10/1/32

1,004,163

500,000

North

Carolina

Agricultural

&

Technical

State

University,

Refunding

Revenue

Series

A

,

5.00 %,

10/1/43

514,654

1,215,000

North

Carolina

Agricultural

&

Technical

State

University,

Refunding

Revenue

Series

A,

Callable

10/1/25

@

,

5.00 %,

10/1/34

1,219,875

1,000,000

North

Carolina

Agricultural

&

Technical

State

University,

Refunding

Revenue

Series

A

,

5.00 %,

10/1/52

1,013,642

500,000

North

Carolina

Agricultural

&

Technical

State

University,

Refunding

Revenue

Series

A

,

5.00 %,

10/1/48

509,885

520,000

North

Carolina

Capital

Facilities

Finance

Agency,

The

Arc

of

North

Carolina

Project,

Refunding

Revenue

(Housing

and

Urban

Development,

Section

8)

,

5.00 %,

10/1/25

519,742

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

2,345,151

Sterling

Capital

North

Carolina

Intermediate

Tax-Free

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

MUNICIPAL

BONDS

—

(continued)

North

Carolina

—

(continued)

$

1,000,000

North

Carolina

Central

University,

University

&

College

Improvements,

Revenue

Bonds,

Callable

4/1/29

@

,

5.00 %,

4/1/37

$

1,029,234

1,205,000

North

Carolina

Central

University,

University

&

College

Improvements,

Revenue

Bonds,

Callable

4/1/29

@

,

5.00 %,

4/1/33

1,266,541

1,000,000

North

Carolina

Housing

Finance

Agency

,

6.25 %,

1/1/56

1,118,588

2,500,000

North

Carolina

Medical

Care

Commission

,

5.00 %,

2/1/51

2,523,355

1,000,000

North

Carolina

Medical

Care

Commission

,

5.00 %,

6/1/55

1,077,538

2,000,000

North

Carolina

Medical

Care

Commission,

Advance

Refunding

Revenue

Bonds,

Vidant

Health,

Callable

6/1/25

@

,

5.00 %,

6/1/40

1,999,918

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

1,608,531

1,040,000

North

Carolina

Municipal

Power

Agency

No

,

5.00 %,

1/1/29

1,059,230

1,100,000

North

Carolina

State,

Advance

Refunding

Revenue

Bonds

Series

B,

Callable

5/1/27

@

,

5.00 %,

5/1/28

1,146,328

3,000,000

North

Carolina

State,

Advance

Refunding

Revenue

Bonds

Series

B,

Callable

5/1/27

@

,

5.00 %,

5/1/30

(a) 3,113,590

2,500,000

North

Carolina

State,

Build

North

Carolina

Bonds,

Highway

Improvements

Revenue

Bonds

Series

A,

Callable

5/1/29

@

,

5.00 %,

5/1/31

2,685,203

1,500,000

North

Carolina

Turnpike

Authority,

Senior

Lien,

Advance

Refunding

Revenue

(AGM)

,

5.00 %,

1/1/27

1,544,787

2,100,000

North

Carolina

Turnpike

Authority,

Senior

Lien,

Advance

Refunding

Revenue,

Callable

1/1/27

@

(AGM)

,

5.00 %,

1/1/28

2,162,323

1,060,000

Pitt

County,

NC,

Advance

Refunding

Revenue

Bonds

Series

B,

Callable

10/1/26

@

,

5.00 %,

4/1/30

1,087,632

2,000,000

Raleigh,

NC,

Combined

Enterprise

System

Revenue,

Current

Refunding

Revenue

Bonds,

Callable

9/1/33

@

,

5.00 %,

9/1/48

2,078,229

1,025,000

Raleigh,

NC,

Refunding

Notes

G.O.

Series

A,

Callable

4/1/33

@

,

5.00 %,

4/1/36

1,143,953

2,200,000

Raleigh,

NC,

Refunding

Notes

G.O.

Series

A,

Callable

4/1/33

@

,

5.00 %,

4/1/40

2,370,053

1,985,000

Sampson

County,

NC,

Refunding

Revenue,

Callable

12/1/25

@

,

5.00 %,

12/1/26

(a) 2,001,102

1,000,000

State

of

North

Carolina

,

5.00 %,

3/1/33

1,062,057

Sterling

Capital

North

Carolina

Intermediate

Tax-Free

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

MUNICIPAL

BONDS

—

(continued)

North

Carolina

—

(continued)

$

1,470,000

Town

of

Apex,

NC,

Callable

2/1/33

@

,

5.00 %,

2/1/35

(a) $

1,650,873

1,195,000

Town

of

Fuquay-Varina

NC,

Multi-Utility

Improvements

G.O.

,

5.00 %,

8/1/31

1,344,583

1,080,000

Town

of

Garner

NC,

Public

Improvements

G.O.

,

5.00 %,

2/1/31

1,205,903

1,080,000

Town

of

Garner

NC,

Public

Improvements

G.O.,

Callable

2/1/33

@

,

5.00 %,

2/1/34

1,218,412

1,730,000

Town

of

Holly

Springs

NC

,

5.00 %,

2/1/33

(a) 1,976,700

1,005,000

Town

of

Huntersville,

NC

,

5.00 %,

12/1/28

1,084,361

1,030,000

Union

County,

NC,

Public

Improvements

Bonds

G.O.,

Callable

3/1/32

@

,

5.00 %,

3/1/34

1,149,630

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

1,640,799

1,100,000

University

of

North

Carolina

at

Wilmington,

Current

Refunding

Revenue

Bonds

Series

B,

Callable

10/1/29

@

,

5.00 %,

10/1/34

1,174,369

1,585,000

Wake

County,

NC,

Public

Improvements,

G.O.

Series

A,

Callable

3/1/28

@

,

5.00 %,

3/1/30

1,675,962

1,725,000

Wake

County,

NC,

Refunding

Revenue

Bonds

Series

A,

Callable

8/1/28

@

,

5.00 %,

8/1/32

1,822,747

350,000

Watauga

Public

Facilities

Corp.,

School

Improvements

Revenue

Bonds,

Callable

6/1/32

@

,

5.25 %,

6/1/40

377,783

325,000

Watauga

Public

Facilities

Corp.,

School

Improvements

Revenue

Bonds,

Callable

6/1/32

@

,

5.00 %,

6/1/35

357,515

400,000

Watauga

Public

Facilities

Corp.,

School

Improvements

Revenue

Bonds,

Callable

6/1/32

@

,

5.00 %,

6/1/36

437,267

375,000

Watauga

Public

Facilities

Corp.,

School

Improvements

Revenue

Bonds,

Callable

6/1/32

@

,

5.00 %,

6/1/37

407,443

375,000

Watauga

Public

Facilities

Corp.,

School

Improvements

Revenue

Bonds,

Callable

6/1/32

@

,

5.00 %,

6/1/38

404,402

650,000

Watauga

Public

Facilities

Corp.,

School

Improvements

Revenue

Bonds,

Callable

6/1/32

@

Series

Callable

6/1/32

@

,

5.25 %,

6/1/42

689,559

2,060,000

Wilmington,

NC,

Public

Improvements

G.O.

Series

A

,

5.00 %,

5/1/31

2,310,377

1,365,000

Winston-Salem,

NC,

Public

Improvements

G.O.

Series

B,

Callable

6/1/33

@

,

5.00 %,

6/1/35

1,535,082

Total

(Cost $118,853,397)

118,440,485

Sterling

Capital

North

Carolina

Intermediate

Tax-Free

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Shares

Fair

Value

MONEY

MARKET

FUNDS

—

2.62%

3,218,601

Federated

Hermes

Treasury

Obligations

Fund,

Institutional

Shares,

4.18%

(b) 3,218,601

Total

Money

Market

Funds

(Cost

$3,218,601)

$

3,218,601

Total

Investments—

99.05%

(Cost

$122,071,998)

121,659,086

Other

Assets

in

Excess

of

Liabilities

—

0.95%

1,171,017

NET

ASSETS

—

100.00%

$

122,830,103

(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

June

30,

2025

is

$8,742,245,

which

represents

7.1 %

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

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

MUNICIPAL

BONDS

—

96.35%

South

Carolina

—

96.35%

$

500,000

Aiken

County,

SC,

Consolidated

School

District,

Special

Obligation

Bonds,

School

Improvements

Revenue,

Callable

6/1/29

@

,

4.00 %,

6/1/33

$

504,353

500,000

Charleston,

SC,

Waterworks

&

Sewer

System

Revenue,

Water

Utility

Improvements

Revenue

Bonds,

Callable

1/1/30

@

,

5.00 %,

1/1/38

526,492

750,000

Charleston,

SC,

Waterworks

&

Sewer

System

Revenue,

Water

Utility

Improvements

Revenue

Bonds,

Callable

7/1/32

@

,

5.00 %,

1/1/52

(a) 769,428

500,000

Columbia,

SC,

Waterworks

&

Sewer

System

Revenue,

Water

&

Sewer

Utility

Improvements

Revenue,

Callable

2/1/28

@

,

5.00 %,

2/1/48

529,977

500,000

Columbia,

SC,

Waterworks

&

Sewer

System

Revenue,

Water

&

Sewer

Utility

Improvements

Revenue,

Callable

2/1/33

@

,

5.25 %,

2/1/52

520,799

700,000

County

of

Beaufort

SC

,

5.00 %,

3/1/31

781,719

500,000

County

of

Dorchester

SC

,

5.00 %,

10/1/36

559,470

780,000

Dorchester

County

School

District

No.

4,

School

Improvements

G.O.

Series

A,

Callable

9/1/33

@

(SCSDE)

,

5.00 %,

3/1/43

816,500

500,000

Florence,

SC,

Combined

Waterworks

&

Sewerage

System

Revenue,

Water

Utility

Improvements

Revenue

Bonds,

Callable

9/1/33

@

,

5.00 %,

9/1/37

549,057

500,000

Greenville

Health

System,

Hospital

System

Board

Series

B,

Callable

5/1/24

@

,

5.00 %,

5/1/31

500,956

500,000

Greenwood

County,

SC

,

5.00 %,

10/1/32

539,502

500,000

Lancaster

County,

SC,

School

District,

School

Improvements

G.O.

Series

A,

Callable

3/1/27

@

(SCSDE)

,

4.00 %,

3/1/30

505,031

635,000

Lexington

&

Richland

School

District

No.

,

5.00 %,

3/1/33

719,486

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

642,070

500,000

Lexington

County,

SC,

School

District

No.

2,

G.O.

Series

C,

Callable

3/1/27

@

(SCSDE)

,

5.00 %,

3/1/31

515,709

1,085,000

Lugoff-Elgin

Water

Authority,

Refunding

Revenue

Series

B,

Callable

7/1/26

@

,

5.00 %,

7/1/30

(a) 1,104,859

500,000

Newberry

Investing

in

Children's

Education

,

5.00 %,

12/1/30

544,280

500,000

Oconee

County,

SC

,

5.00 %,

4/1/41

530,539

Sterling

Capital

South

Carolina

Intermediate

Tax-Free

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

MUNICIPAL

BONDS

—

(continued)

South

Carolina

—

(continued)

$

500,000

Orangeburg

County,

SC,

Correctional

Facilities

Improvements,

Installment

Purchase

Revenue

Bonds,

Callable

12/1/27

@

,

5.00 %,

12/1/29

$

516,201

715,000

Patriots

Energy

Group

Financing

Agency

,

5.25 %,

2/1/54

767,608

500,000

Richland

County,

DC,

School

District

No.

2,

Refunding

Bonds

G.O.

Series

B,

Callable

3/1/27

@

(SCSDE)

,

4.00 %,

3/1/29

507,762

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) 880,713

490,000

SCAGO

Educational

Facilities

Corp.

for

Sumter

County

School

17,

Refunding

Revenue

,

5.00 %,

12/1/25

493,445

415,000

South

Carolina

Jobs-Economic

Development

Auth

Series

2025-B-2

,

5.00 %,

11/1/49

440,131

400,000

South

Carolina

Jobs-Economic

Development

Authority

,

5.00 %,

11/1/33

(a) 446,709

645,000

South

Carolina

Jobs-Economic

Development

Authority

,

5.00 %,

11/1/34

714,296

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) 858,850

500,000

South

Carolina

Jobs-Economic

Development

Authority,

Wofford

College

Project,

University

&

College

Improvements

Revenue,

Callable

4/1/29

@

,

5.00 %,

4/1/44

501,988

750,000

South

Carolina

Public

Service

Authority,

Callable

12/1/32

@

,

5.25 %,

12/1/36

819,530

500,000

South

Carolina

Transportation

Infrastructure

Bank,

Advance

Refunding

Revenue

Series

A,

Callable

10/1/27

@

(AGM)

,

5.00 %,

10/1/38

511,121

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

530,582

500,000

Spartanburg

County

School

District

No.

5,

SC,

School

Improvements

G.O.,

Callable

3/1/32

(SCSDE)

,

5.00 %,

3/1/37

543,158

750,000

State

of

South

Carolina,

University

&

College

Improvements

G.O.

Series

A,

Callable

4/1/32

@

,

5.00 %,

4/1/39

802,350

Total

(Cost $20,663,017)

20,494,671

Sterling

Capital

South

Carolina

Intermediate

Tax-Free

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Shares

Fair

Value

MONEY

MARKET

FUNDS

—

2.64%

562,482

Federated

Hermes

Treasury

Obligations

Fund,

Institutional

Shares,

4.18%

(b) 562,482

Total

Money

Market

Funds

(Cost

$562,482)

$

562,482

Total

Investments—

98.99%

(Cost

$21,225,499)

21,057,153

Other

Assets

in

Excess

of

Liabilities

—

1.01%

214,546

NET

ASSETS

—

100.00%

$

21,271,699

(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

June

30,

2025

is

$2,499,167,

which

represents

11.7%

of

net

assets.

(b) Represents

the

current

yield

as

of

report

date.

AGM

Assured

Guaranty

Municipal

Corp.

G.O.

General

Obligation

SCAGO

South

Carolina

Association

of

Governmental

Organizations

SCSDE

South

Carolina

School

District

Enhancement

Sterling

Capital

Virginia

Intermediate

Tax-Free

Fund

Schedule

of

Investments

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

MUNICIPAL

BONDS

—

97.94%

Virginia

—

97.94%

$

1,000,000

Albemarle

County,

VA,

Economic

Development

Authority,

Public

Improvements

Revenue

,

5.00 %,

6/1/27

$

1,045,631

1,000,000

Albemarle

County,

VA,

School

Improvements

G.O.,

(State

Aid

Withholding)

,

5.00 %,

6/1/26

1,021,193

1,000,000

Arlington

County,

VA,

Public

Improvements

G.O.,

Callable

8/15/27

@

,

5.00 %,

8/15/30

1,043,457

1,085,000

Chesapeake

Bay

Bridge

&

Tunnel

District,

First

Tier

General

Resolution,

Highway

Improvements,

Revenue

Bonds,

Callable

7/1/26

@

(AGM)

,

5.00 %,

7/1/41

1,090,136

1,000,000

Chesapeake,

VA,

Chesapeake

Expressway,

Callable

7/15/34

@

,

5.00 %,

7/15/41

1,054,373

1,000,000

Chesapeake,

VA,

Public

Improvements,

Refunding

G.O.

Series

A,

Callable

18/1/27

@

,

5.00 %,

8/1/30

1,042,807

1,000,000

Chesterfield

County,

VA,

School

Improvements

G.O.,

(State

Aid

Withholding)

Series

A,

Callable

1/1/28

@

,

4.00 %,

1/1/31

1,028,299

500,000

Chesterfield

County,

VA,

School

Improvements

G.O.,

(State

Aid

Withholding),

Callable

1/1/33

@

,

5.00 %,

1/1/40

534,378

1,000,000

City

of

Alexandria,

VA

,

5.00 %,

12/15/33

1,148,548

1,145,000

Culpeper

County,

VA,

Economic

Development

Authority,

VA

Capital

Projects,

Refunding

Revenue,

Callable

6/1/24

@

,

4.00 %,

6/1/26

1,145,805

1,145,000

Fairfax

County,

VA,

School

Improvements

G.O.,

Current

Refunding

Series

A,

Callable

4/1/30

@

,

5.00 %,

10/1/30

(a) 1,261,591

1,000,000

Fairfax

County,

VA,

Sewer

Revenue

,

5.00 %,

7/15/54

1,037,594

1,000,000

Hampton

Roads

Transp.

Accountability

Comm.

,

5.00 %,

7/1/31

1,099,835

500,000

Henrico

County

Economic

Development

Authority

,

5.00 %,

11/1/35

550,595

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

1,082,937

1,000,000

Loudoun

County,

VA,

Miscellaneous

Purposes

Revenue

G.O.

(State

Aid

Withholding)

Series

A

,

5.00 %,

12/1/29

1,097,501

1,000,000

Lynchburg

Economic

Development

Authority

,

5.00 %,

1/1/35

1,073,659

1,000,000

Manassas,

VA,

Public

Improvements,

Public

Facilities

G.O.

(State

Aid

Withholding),

Callable

7/1/29

@

,

4.00 %,

7/1/33

1,031,823

1,000,000

Norfolk,

VA,

Callable

8/1/28

@

,

5.00 %,

8/1/47

1,070,584

Sterling

Capital

Virginia

Intermediate

Tax-Free

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

MUNICIPAL

BONDS

—

(continued)

Virginia

—

(continued)

$

500,000

Norfolk,

VA,

Water

Revenue,

Callable

11/1/33

@

,

5.00 %,

11/1/44

$

524,770

1,000,000

Norfolk,

VA,

Water

Revenue,

Callable

11/1/33

@

,

5.00 %,

11/1/40

1,075,125

1,000,000

Roanoke,

VA,

School

Improvements

G.O.,

Callable

4/1/32

@

,

5.00 %,

4/1/34

(a) 1,112,101

500,000

Salem

Economic

Development

Authority

,

5.00 %,

4/1/40

494,942

1,000,000

Salem,

VA,

School

Improvements

G.O.,

Current

Refunding

,

5.00 %,

5/1/28

1,063,957

500,000

Spotsylvania

County,

VA,

School

Improvements

G.O.,

Callable

7/15/32

@

,

5.00 %,

1/15/38

542,601

1,000,000

Spotsylvania

County,

VA,

School

Improvements

G.O.,

Callable

7/15/32

@

,

5.00 %,

1/15/37

1,094,813

1,085,000

Suffolk,

VA,

Callable

2/1/32

@

,

5.00 %,

2/1/43

(a) 1,137,513

1,000,000

Upper

Occoquan

Sewage

Authority

,

5.00 %,

7/1/37

1,125,027

1,000,000

Virginia

College

Building

Authority,

University

&

College

Improvements

Revenue

Bonds

(State

Intercept)

Series

C

,

5.00 %,

9/1/29

1,090,249

1,215,000

Virginia

Commonwealth

Transportation

Board,

Federal

Highway

Transportation

Grant,

Callable

9/15/26

@

,

5.00 %,

9/15/30

1,242,795

1,000,000

Virginia

Housing

Development

Authority,

Callable

4/1/26

@

,

3.00 %,

10/1/29

991,675

1,000,000

Virginia

Port

Authority

Commonwealth

Port

Fund,

Airport

&

Marina

Improvements

Revenue

Bonds

Series

A

,

5.00 %,

7/1/41

1,052,950

1,000,000

Virginia

Public

School

Authority,

School

Improvements

Revenue

Bonds

(State

Aid

Withholding)

,

5.00 %,

1/15/30

1,099,225

1,035,000

Virginia

Public

School

Authority,

School

Improvements

Revenue

Bonds

(State

Aid

Withholding)

,

5.00 %,

8/15/30

1,147,920

1,000,000

Winchester

Economic

Development

Authority,

Callable

1/1/34

@

,

5.00 %,

1/1/42

1,021,413

Total

(Cost $35,556,425)

35,277,822

Shares

Fair

Value

MONEY

MARKET

FUNDS

—

0.79%

285,871

Federated

Hermes

Treasury

Obligations

Fund,

Institutional

Shares,

4.18%

(b) 285,871

Sterling

Capital

Virginia

Intermediate

Tax-Free

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Shares

Fair

Value

MONEY

MARKET

FUNDS

—

0.79%

-

continued

Total

Money

Market

Funds

(Cost

$285,871)

$

285,871

Total

Investments—

98.73%

(Cost

$35,842,296)

35,563,693

Other

Assets

in

Excess

of

Liabilities

—

1.27%

456,883

NET

ASSETS

—

100.00%

$

36,020,576

(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

June

30,

2025

is

$3,422,095,

which

represents

9.5%

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

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

MUNICIPAL

BONDS

—

97.95%

West

Virginia

—

97.95%

$

500,000

Berkeley

County

Public

Service

Sewer

,

5.00 %,

6/1/40

$

519,453

1,000,000

Berkeley

County,

Board

of

Education,

School

Improvements

G.O.

(West

Virginia

Board

Commission)

,

4.00 %,

6/1/28

1,034,123

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) 1,766,405

1,500,000

Berkeley

County,

WV,

Public

Service

Sewer

District,

Miscellaneous

Purposes

Revenue

Series

C,

Callable

10/30/23

@

(BAM)

,

4.50 %,

10/1/32

1,500,680

1,080,000

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) 1,099,373

610,000

Fairmont

State

University

,

5.00 %,

6/1/26

620,041

1,360,000

Marshall

University,

WV,

University

&

College

Improvements

Revenue

Bonds

Series

A

(AGM)

,

5.00 %,

5/1/30

1,475,126

705,000

Morgantown

Utility

Board,

WV,

Combined

Water

Utility

Improvements

Revenue

Series

B,

Callable

6/1/28

@

,

5.00 %,

12/1/34

736,039

1,140,000

Morgantown

Utility

Board,

WV,

Water

Utility

Improvements

Revenue

Bonds

Series

B,

Callable

6/1/28

@

,

5.00 %,

12/1/36

1,181,763

750,000

Ohio

County,

WV,

Board

of

Education,

School

Improvements

G.O.

(West

Virginia

Board

Commission)

,

3.00 %,

6/1/28

747,635

1,000,000

Ohio

County,

WV,

Board

of

Education,

School

Improvements

G.O.

(West

Virginia

Board

Commission)

,

4.00 %,

6/1/29

1,036,588

1,275,000

Ohio

County,

WV,

Callable

6/1/34

@

,

5.25 %,

6/1/44

1,260,759

1,000,000

Putnam

County

Board

of

Education/WV

,

5.00 %,

6/1/32

1,106,746

1,500,000

Putnam

County

Board

of

Education/WV

,

5.00 %,

6/1/37

1,629,381

1,265,000

School

Building

Authority

of

West

Virginia,

Lottery

Capital

Improvements

Revenue

Series

A,

Callable

7/1/24

@

,

5.00 %,

7/1/28

1,267,422

1,000,000

State

of

West

Virginia,

Callable

6/1/29

@

,

5.00 %,

6/1/44

1,013,943

1,505,000

State

of

West

Virginia,

Callable

6/1/31

@

,

5.00 %,

6/1/45

1,555,823

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

1,052,852

Sterling

Capital

West

Virginia

Intermediate

Tax-Free

Fund

Schedule

of

Investments

(continued)

June

30,

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 %,

6/1/35

$

1,117,578

1,000,000

Taylor

County,

WV,

Board

of

Education,

Callable

6/1/34

@

,

5.00 %,

6/1/36

1,108,949

850,000

West

Virginia

Commissioner

of

Highways,

Callable

9/1/27

@

,

5.00 %,

9/1/28

887,048

500,000

West

Virginia

Economic

Development

Authority

,

3.38 %,

3/1/40

498,909

1,145,000

West

Virginia

Economic

Development

Authority,

Lottery

Recreational

Facilities

Improvements

Revenue

Series

A,

Callable

7/1/27

@

,

5.00 %,

7/1/28

1,196,261

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

1,593,881

1,015,000

West

Virginia

Economic

Development

Authority,

State

Office

Building

3,

Public

Improvements

Revenue

Series

D,

Callable

6/1/5

@

,

5.00 %,

6/1/26

1,020,208

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

1,477,617

1,000,000

West

Virginia

Hospital

Finance

Authority,

Health

Care

Facilities

Revenue

Bonds

Series

A,

Callable

6/1/33

@

,

5.00 %,

6/1/41

1,027,695

1,385,000

West

Virginia

Hospital

Finance

Authority,

United

Health

System

Obligation,

Health,

Hospital,

Nursing

Home

Improvements

Refunding

Revenue

Bonds

,

5.00 %,

6/1/26

1,409,058

1,070,000

West

Virginia

Housing

Development

Fund,

Revenue

Bonds

Series

A

,

3.25 %,

5/1/29

1,073,790

905,000

West

Virginia

Housing

Development

Fund,

Revenue

Bonds

Series

A

,

3.30 %,

11/1/29

909,213

735,000

West

Virginia

Lottery

Excess

Lottery

Revenue

,

5.00 %,

7/1/39

777,297

1,980,000

West

Virginia

Parkways

Authority,

Highway

Improvements,

Senior

Lien

Revenue

Bonds,

Callable

6/1/31

@

,

5.00 %,

6/1/47

2,011,651

1,105,000

West

Virginia

Parkways

Authority,

Senior

Turnpike

Toll

Revenue,

Highway

Improvements,

Callable

6/1/28

@

,

5.00 %,

6/1/39

1,130,916

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

1,064,441

Sterling

Capital

West

Virginia

Intermediate

Tax-Free

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

Principal

Amount

Fair

Value

MUNICIPAL

BONDS

—

(continued)

West

Virginia

—

(continued)

$

1,500,000

West

Virginia

University,

University

Projects,

University

&

College

Improvements

Revenue

Series

A,

Callable

10/1/31

@

,

5.00 %,

10/1/44

$

1,532,393

1,015,000

West

Virginia

Water

Development

Authority

,

5.00 %,

11/1/35

1,044,821

1,050,000

West

Virginia

Water

Development

Authority,

Loan

Program

II,

Refunding

Revenue

Series

A-II,

Callable

11/1/23

@

,

5.00 %,

11/1/26

(a) 1,051,714

740,000

West

Virginia

Water

Development

Authority,

West

Virginia

Infrastructure

&

Jobs,

Current

Refunding

Revenue

Bonds,

Callable

10/1/26

@

,

5.00 %,

10/1/30

755,232

1,100,000

West

Virginia

Water

Development

Authority,

West

Virginia

Infrastructure

&

Jobs,

Current

Refunding

Revenue

Bonds,

Callable

10/1/26

@

,

5.00 %,

10/1/31

1,121,829

1,500,000

Wood

County,

WV,

Board

of

Education,

Callable

6/1/33

@

,

4.50 %,

6/1/34

1,584,208

1,000,000

Wood

County,

WV,

Board

of

Education,

Callable

6/1/33

@

,

4.50 %,

6/1/35

1,042,378

1,000,000

Wyoming

County,

WV,

Board

of

Education,

Callable

6/1/34

@

,

5.00 %,

6/1/35

1,099,847

1,000,000

Wyoming

County,

WV,

Board

of

Education,

Callable

6/1/34

@

,

5.00 %,

6/1/36

1,090,589

Total

(Cost $49,909,723)

49,231,675

Shares

Fair

Value

MONEY

MARKET

FUNDS

—

7.03%

3,533,172

Federated

Hermes

Treasury

Obligations

Fund,

Institutional

Shares,

4.18%

(b) 3,533,172

Total

Money

Market

Funds

(Cost

$3,533,172)

3,533,172

Total

Investments—

104.98%

(Cost

$53,442,895)

52,764,847

Liabilities

in

Excess

of

Other

Assets

—

(4.98)%

(2,503,891)

NET

ASSETS

—

100.00%

$

50,260,956

(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

June

30,

2025

is

$3,028,940,

which

represents

6.0%

of

net

assets.

(b) Represents

the

current

yield

as

of

report

date.

AGM

Assured

Guaranty

Municipal

Corp.

Sterling

Capital

West

Virginia

Intermediate

Tax-Free

Fund

Schedule

of

Investments

(continued)

June

30,

2025

(Unaudited)

BAM

Build

America

Mutual

G.O.

General

Obligation

## 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 Intermediate U.S. Government Fund

- **b. EDGAR series identifier (if any):** S000003557

- **c. LEI of Series:** 5493004IIF8E6ZHYLY36

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

- **a. Date of fiscal year-end:** 2025-09-30

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $19340231.64

**Total Liabilities:** $59785.60

**Net Assets:** $19280446.04

**Cash Not Reported:** $23.86

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 9.35378141 | **1-Year:** 679.95470762 | **5-Year:** 2724.12562988 | **10-Year:** 3021.99080235 | **30-Year:** 2.24091302

**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 C000009890 | 0.79%                | -0.80%               | 1.37%                |
| Class ID C000009893 | -0.41%               | -1.77%               | 0.17%                |
| Class ID C000009891 | -1.26%               | -2.70%               | -0.81%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $6002.43                 | $86525.24                                  |
| Month 2  | $740.05                  | $-189219.99                                |
| Month 3  | $824.88                  | $192274.35                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS                              | CUSIP: 3137BW5Q3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    315000 | PA      | $306377.63    | 1.59%             | 2044-09-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association        | CUSIP: 38384AY64<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    150134 | PA      | $152764.24    | 0.79%             | 2034-05-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae Pool                                 | CUSIP: 31418A2X5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    133647 | PA      | $132268.80    | 0.69%             | 2033-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac Pool                                | CUSIP: 3132DQSL1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    140344 | PA      | $143746.58    | 0.75%             | 2053-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae-Aces                                 | CUSIP: 3136AQC99<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    262178 | PA      | $260913.89    | 1.35%             | 2025-11-25      | Variable      | 2.92%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac Pool                                | CUSIP: 31329QDG3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |     49842 | PA      | $48998.62     | 0.25%             | 2039-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac Multifamily Structured Pass Through | CUSIP: 3137FBU79<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    171739 | PA      | $168560.34    | 0.87%             | 2027-09-25      | Variable      | 3.19%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae-Aces                                 | CUSIP: 3136BPRX1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    506030 | PA      | $492330.27    | 2.55%             | 2037-12-25      | Variable      | 3.94%                 | No            |                  2 | On Loan: No      |
| U.S. Treasury Security Stripped Interest Security      | United States Treasury Strip Coupon 0 05/15/29  | CUSIP: 912833XS4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1350000 | PA      | $1165866.18   | 6.05%             | 2029-05-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac Pool                                | CUSIP: 3132DP6F0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    101688 | PA      | $93217.84     | 0.48%             | 2052-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS                               | CUSIP: 3136ASHD1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    123415 | PA      | $104770.39    | 0.54%             | 2046-02-25      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| U.S. Treasury Security Stripped Interest Security      | United States Treasury Strip Coupon 0 11/15/32  | CUSIP: 9128337S3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $737205.19    | 3.82%             | 2032-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS                               | CUSIP: 3136ATJR6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    147421 | PA      | $139652.74    | 0.72%             | 2045-09-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BANK5 2023-5YR3                                        | BANK5                                           | CUSIP: 06211EAP6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    150000 | PA      | $160367.39    | 0.83%             | 2056-09-15      | Variable      | 7.32%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association        | CUSIP: 38384FBN1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    215402 | PA      | $221175.10    | 1.15%             | 2033-02-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae Pool                                 | CUSIP: 3140Q74T1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     97196 | PA      | $89031.89     | 0.46%             | 2047-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS                              | CUSIP: 3137FQW25<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    187121 | PA      | $163344.17    | 0.85%             | 2049-10-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association        | CUSIP: 38383UWQ9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    189714 | PA      | $185710.99    | 0.96%             | 2052-05-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae Pool                                 | CUSIP: 3140XR3K9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    169840 | PA      | $170317.45    | 0.88%             | 2054-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac Pool                                | CUSIP: 3133BV5M3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    145537 | PA      | $146435.51    | 0.76%             | 2053-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac Pool                                | CUSIP: 3132ADBJ6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    110988 | PA      | $101637.53    | 0.53%             | 2047-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae Pool                                 | CUSIP: 3140QED33<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    173423 | PA      | $150848.87    | 0.78%             | 2050-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association        | CUSIP: 38379FSM2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     39141 | PA      | $37070.88     | 0.19%             | 2044-09-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association        | CUSIP: 38378UAE7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     33702 | PA      | $33179.41     | 0.17%             | 2037-02-16      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac Multifamily Structured Pass Through | CUSIP: 3137BTAC5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    210000 | PA      | $207292.09    | 1.08%             | 2026-10-25      | Variable      | 3.30%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae Pool                                 | CUSIP: 3140XPSD2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    286035 | PA      | $293233.33    | 1.52%             | 2054-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS                               | CUSIP: 3136A7WK4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    164057 | PA      | $154620.00    | 0.80%             | 2042-05-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac Pool                                | CUSIP: 3133KPY93<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    233247 | PA      | $230813.85    | 1.20%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae Pool                                 | CUSIP: 31418CGY4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     32481 | PA      | $32078.45     | 0.17%             | 2037-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae Pool                                 | CUSIP: 31418DU42<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    330691 | PA      | $274904.09    | 1.43%             | 2040-12-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae-Aces                                 | CUSIP: 3136AV7G8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    360260 | PA      | $353362.80    | 1.83%             | 2027-02-25      | Variable      | 2.96%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS                              | CUSIP: 3137B0HP2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    141064 | PA      | $129340.94    | 0.67%             | 2043-03-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD | Freddie Mac Multifamily Structured Pass Through | CUSIP: 3137BLMZ8<br>LEI: N/A                  | Long             | ABS-O            | USGSE             | US        |     19029 | PA      | $18971.24     | 0.10%             | 2025-07-25      | Fixed         | 3.01%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac Pool                                | CUSIP: 3132DWCV3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |     82449 | PA      | $71995.05     | 0.37%             | 2051-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae Pool                                 | CUSIP: 3140HBVA3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     43601 | PA      | $39717.79     | 0.21%             | 2049-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD | Freddie Mac Multifamily Structured Pass Through | CUSIP: 3137FGZT5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    275000 | PA      | $274157.46    | 1.42%             | 2028-06-25      | Variable      | 3.93%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS                              | CUSIP: 3137A5HU1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    109875 | PA      | $109762.68    | 0.57%             | 2031-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae Pool                                 | CUSIP: 3140XL2S6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    400862 | PA      | $364527.14    | 1.89%             | 2050-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD | Freddie Mac REMICS                              | CUSIP: 3137HBM43<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     84885 | PA      | $85386.46     | 0.44%             | 2047-09-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae-Aces                                 | CUSIP: 3136BPRU7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    148063 | PA      | $138764.26    | 0.72%             | 2033-01-25      | Variable      | 3.43%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac Pool                                | CUSIP: 3132DPUP1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    165839 | PA      | $163400.74    | 0.85%             | 2053-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac Pool                                | CUSIP: 3132DVMH5<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    161484 | PA      | $152128.20    | 0.79%             | 2053-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae Pool                                 | CUSIP: 3140QED41<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    180357 | PA      | $156870.69    | 0.81%             | 2050-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | UMBS Fannie Mae Pool                            | CUSIP: 3140QENZ1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    162496 | PA      | $137558.08    | 0.71%             | 2050-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Federated Hermes Money Market Obligations Trust        | Federated Hermes Treasury Oligations Fund       | CUSIP: 31423R500<br>LEI: 25490005VWJDWX717014 | Long             | STIV             | RF                | US        |    132270 | PA      | $132270.05    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK5 2024-5YR5                                        | BANK5 2024-5YR5                                 | CUSIP: 065931BG1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $104203.51    | 0.54%             | 2029-02-15      | Variable      | 6.27%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | Government National Mortgage Association        | CUSIP: 38377YX39<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    142714 | PA      | $147538.27    | 0.77%             | 2040-07-20      | Variable      | 5.59%                 | No            |                  2 | On Loan: No      |
| BANK5 2024-5YR6                                        | BANK5 Trust                                     | CUSIP: 066043AB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    150000 | PA      | $157920.29    | 0.82%             | 2057-05-15      | Fixed         | 6.22%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS                               | CUSIP: 31394CY63<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     91839 | PA      | $94616.11     | 0.49%             | 2035-04-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS                               | CUSIP: 31393CVL4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     24569 | PA      | $24051.42     | 0.12%             | 2033-06-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae Pool                                 | CUSIP: 3140QB4R6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     50864 | PA      | $46257.62     | 0.24%             | 2049-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae Pool                                 | CUSIP: 3140QQ2L8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    119889 | PA      | $118049.89    | 0.61%             | 2052-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BANK 2024-BNK48                                        | BANK 2024-BNK48 A5                              | CUSIP: 06541GAH0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $100485.79    | 0.52%             | 2034-09-15      | Variable      | 5.05%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae Pool                                 | CUSIP: 3140QERV6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    145635 | PA      | $116950.89    | 0.61%             | 2050-08-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS                              | CUSIP: 3137FKZU3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    141409 | PA      | $137107.90    | 0.71%             | 2038-07-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                           | United States Treasury Note                     | CUSIP: 91282CBL4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1150200 | PA      | $995192.58    | 5.16%             | 2031-02-15      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac Multifamily Structured Pass Through | CUSIP: 3137BTUM1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    481436 | PA      | $475798.90    | 2.47%             | 2026-11-25      | Variable      | 3.35%                 | No            |                  2 | On Loan: No      |
| JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST             | JPMBB Commercial Mortgage Securities Trust      | CUSIP: 46643ABE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1541 | PA      | $1531.26      | 0.01%             | 2047-09-15      | Fixed         | 3.93%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS                               | CUSIP: 3136AUSV4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    188282 | PA      | $173440.14    | 0.90%             | 2046-03-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Banks                                | Federal Home Loan Banks                         | CUSIP: 3130APEP6<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGSE             | US        |     60000 | PA      | $52363.57     | 0.27%             | 2031-10-07      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | Ginnie Mae II Pool                              | CUSIP: 3622AB2M3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     90436 | PA      | $84392.82     | 0.44%             | 2052-07-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                           | United States Treasury Note                     | CUSIP: 91282CAE1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    220000 | PA      | $187627.34    | 0.97%             | 2030-08-15      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae Pool                                 | CUSIP: 3140XHYN1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    162663 | PA      | $151689.92    | 0.79%             | 2052-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST                                           | State of Wisconsin                              | CUSIP: 977100AC0<br>LEI: 549300VTAT608CNZ5827 | Long             | DBT              | MUN               | US        |     40000 | PA      | $40477.83     | 0.21%             | 2026-05-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae Pool                                 | CUSIP: 3140X8A80<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    235600 | PA      | $197288.92    | 1.02%             | 2050-10-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae Pool                                 | CUSIP: 3140FVUY0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     29969 | PA      | $28132.75     | 0.15%             | 2047-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BANK5 2024-5YR6                                        | BANK5 Trust 2024-5YR6                           | CUSIP: 066043AG5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $106140.07    | 0.55%             | 2057-05-15      | Variable      | 6.79%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association               | Ginnie Mae II Pool                              | CUSIP: 36202EXL8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     24471 | PA      | $24199.92     | 0.13%             | 2038-11-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae Pool                                 | CUSIP: 3140X6AQ4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     78224 | PA      | $68497.52     | 0.36%             | 2050-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae-Aces                                 | CUSIP: 3136AW7J0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    191514 | PA      | $187839.35    | 0.97%             | 2027-05-25      | Variable      | 3.06%                 | No            |                  2 | On Loan: No      |
| Fnma Pass-Thru I                                       | Fannie Mae Pool                                 | CUSIP: 3140KNFZ6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    259523 | PA      | $217244.65    | 1.13%             | 2050-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS                              | CUSIP: 3137AUY86<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     52434 | PA      | $49942.01     | 0.26%             | 2040-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac Pool                                | CUSIP: 3132DNVG5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    156979 | PA      | $150983.59    | 0.78%             | 2052-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS                              | CUSIP: 3137AXK44<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     57922 | PA      | $55004.91     | 0.29%             | 2033-01-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| PROGRESS RESIDENTIAL 2025-SFR1 TRUS                    | Progress Residential Trust                      | CUSIP: 74334NAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $94748.97     | 0.49%             | 2042-02-17      | Fixed         | 3.40%                 | Yes           |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS                              | CUSIP: 3137BQUN5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    331853 | PA      | $296075.45    | 1.54%             | 2045-09-15      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac Pool                                | CUSIP: 3132DTCQ1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    181011 | PA      | $181884.75    | 0.94%             | 2054-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS                               | CUSIP: 3136ADB57<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     61071 | PA      | $56994.43     | 0.30%             | 2033-05-25      | Fixed         | 1.85%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae Pool                                 | CUSIP: 31418EWU0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    107702 | PA      | $110142.63    | 0.57%             | 2043-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac Pool                                | CUSIP: 3132DQMV5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |     83607 | PA      | $85655.92     | 0.44%             | 2053-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BMO 2023-5C1 MORTGAGE TRUST                            | BMO 2023-5C1 Mortgage Trust                     | CUSIP: 055986AF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     26000 | PA      | $27577.92     | 0.14%             | 2056-08-15      | Variable      | 7.12%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS                              | CUSIP: 3137AYDC2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    175000 | PA      | $163589.18    | 0.85%             | 2033-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae Pool                                 | CUSIP: 3140KKS47<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    120439 | PA      | $100806.00    | 0.52%             | 2050-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae-Aces                                 | CUSIP: 3136B2HA3<br>LEI: N/A                  | Long             | ABS-O            | USGSE             | US        |    378493 | PA      | $371195.55    | 1.93%             | 2028-07-25      | Variable      | 3.35%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac REMICS                              | CUSIP: 3137BVCC8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     88568 | PA      | $86424.20     | 0.45%             | 2045-10-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal Farm Credit Banks                              | Federal Farm Credit Banks Funding Corp.         | CUSIP: 3133EMUA8<br>LEI: 254900C5LP6DN9OP9V83 | Long             | DBT              | USGSE             | US        |     86000 | PA      | $69198.54     | 0.36%             | 2036-03-24      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS                               | CUSIP: 3136ATKQ6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     16458 | PA      | $16357.01     | 0.08%             | 2042-10-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                           | United States Treasury Note                     | CUSIP: 91282CFF3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1750000 | PA      | $1614375.00   | 8.37%             | 2032-08-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae Pool                                 | CUSIP: 3140W0GL3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    174389 | PA      | $175133.09    | 0.91%             | 2054-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae Pool                                 | CUSIP: 3140X8EL7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    255096 | PA      | $213537.50    | 1.11%             | 2050-10-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae Pool                                 | CUSIP: 3140QEYR7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    224778 | PA      | $180257.68    | 0.93%             | 2050-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae Pool                                 | CUSIP: 3140QFA25<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    321390 | PA      | $257215.96    | 1.33%             | 2050-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac Pool                                | CUSIP: 3133KYUP2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    169550 | PA      | $146342.63    | 0.76%             | 2040-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac Multifamily Structured Pass Through | CUSIP: 3137F2LJ3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    125000 | PA      | $122787.21    | 0.64%             | 2027-06-25      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS                               | CUSIP: 3136ABAA1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    116308 | PA      | $97785.16     | 0.51%             | 2043-01-25      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae Pool                                 | CUSIP: 3140XNTQ7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    380472 | PA      | $364594.49    | 1.89%             | 2052-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac Pool                                | CUSIP: 31329KU28<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |     80707 | PA      | $79786.26     | 0.41%             | 2035-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE (H) 23-85                                   | Government National Mortgage Association        | CUSIP: 38384BAG6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | CORP              | US        |    150000 | PA      | $148069.67    | 0.77%             | 2040-08-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae REMICS                               | CUSIP: 3136B4B49<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    224895 | PA      | $202641.49    | 1.05%             | 2048-05-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Small Business Administration                          | United States Small Business Administration     | CUSIP: 83162CXD0<br>LEI: N/A                  | Long             | ABS-O            | USGA              | US        |     62689 | PA      | $58846.18     | 0.31%             | 2035-07-01      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac Pool                                | CUSIP: 3132DUBE6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    286507 | PA      | $293135.70    | 1.52%             | 2054-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                       | Freddie Mac Pool                                | CUSIP: 3132DNMN0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    153883 | PA      | $148349.23    | 0.77%             | 2052-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae Pool                                 | CUSIP: 31418CE67<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     34506 | PA      | $34071.64     | 0.18%             | 2036-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding AESOP LLC               | Avis Budget Rental Car Funding AESOP LLC        | CUSIP: 05377RHY3<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |    183000 | PA      | $187765.34    | 0.97%             | 2030-06-20      | Fixed         | 5.36%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                  | Fannie Mae Pool                                 | CUSIP: 3140Q9PD9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     43166 | PA      | $43115.36     | 0.22%             | 2048-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-30

**Name of Applicant:** Sterling Capital Funds

**Signature:** Todd Miller

**Name of Signer:** Todd Miller

**Title:** Treasurer