N-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF

REGISTERED MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811-08879

SUN CAPITAL ADVISERS TRUST

(Exact name of registrant as specified in charter)

One Sun Life Executive Park, Wellesley Hills, Massachusetts  02481

(Address of principal executive offices)  (Zip code)

John T. Donnelly

Sun Capital Advisers Trust

One Sun Life Executive Park

Wellesley Hills, Massachusetts 02481

(Name and address of agent for service)

Registrant’s telephone number, including area code: (800) 432-1102 x 3330

Date of fiscal year end: December 31

Date of reporting period: September 30, 2010

Item 1. SCHEDULE OF INVESTMENTS.

SUN CAPITAL INVESTMENT GRADE BOND FUND

PORTFOLIO OF INVESTMENTS

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code*	Principal Amount (000)		Value
ASSET BACKED SECURITIES – 0.1%
Airplanes Pass Through Trust, Series D 10.88%, 3/15/12(1)		$	494	$	—	**
SLM Student Loan Trust, Series 2008-5, Class A2 1.60%, 10/25/16(2)			160		162,577
SLM Student Loan Trust, Series 2008-5, Class A4 2.20%, 7/25/23(2)			215		225,236
Total Asset Backed Securities (Cost $636,776)					387,813
COMMERCIAL MORTGAGE BACKED SECURITIES – 2.0%
Banc of America Mortgage Securities, Inc., Series 2003-H, Class 2A3 3.11%, 9/25/33(2)			760		742,678
Bear Stearns Commercial Mortgage Securities, Series 2007-T28, Class A3 5.79%, 9/11/42			1,000		1,080,936
Citigroup/Deutsche Bank Commercial Mortgage Trust, Series 2005-C1, Class A3 5.40%, 7/15/44(2)			750		819,642
Commercial Mortgage Asset Trust, Series 1999-C1, Class F 6.25%, 1/17/32(3)			400		369,993
GMAC Commercial Mortgage Securities, Inc., Series 2003-C1, Class A2 4.08%, 5/10/36			800		838,535
GS Mortgage Securities Corp., Series 2005-GG4, Class AJ 4.78%, 7/10/39			700		600,531
JP Morgan Chase Commercial Mortgage Securities Corp., Series 2005-LDP5 Mortgage Certificate, Class A3 5.39%, 12/15/44(2)			550		594,379
JP Morgan Chase Commercial Mortgage Securities Corp., Series 2006-LDP7 Mortgage Certificate, Class AM 6.06%, 4/15/45(2)			500		497,111

	Country Code*		Principal Amount (000)		Value
Morgan Stanley Capital I, Series 2004-T15, Class B 5.45%, 6/13/41(2)			$	1,500	$	1,517,042
Total Commercial Mortgage Backed Securities (Cost $6,840,640)						7,060,847
CORPORATE DEBT OBLIGATIONS – 54.9%
AEROSPACE & DEFENSE – 0.9%
L-3 Communications Corp. 6.38%, 10/15/15				3,000		3,093,750
AUTOMOTIVE – 3.1%
American Honda Finance Corp. 2.38%, 3/18/13(3)				2,500		2,555,517
Ford Motor Credit Co. LLC 3.28%, 1/13/12(2)				2,000		1,998,000
5.63%, 9/15/15				3,000		3,084,957
Hyundai Capital America 3.75%, 4/6/16(3)(4)				3,500		3,485,825
						11,124,299
BANKS – 11.8% Ally Financial, Inc. 7.00%, 2/1/12				300		310,125
8.30%, 2/12/15(3)				2,000		2,180,000
Bank of Nova Scotia 1.45%, 7/26/13(3)		CA		5,000		5,054,070
Barclays Bank PLC 2.50%, 1/23/13		GB		3,000		3,065,154
Canadian Imperial Bank of Commerce 1.45%, 9/13/13		CA		5,000		5,033,375
Countrywide Financial Corp. 6.25%, 5/15/16				325		349,792
HSBC Bank USA NA 4.88%, 8/24/20				3,500		3,650,500
Huntington Capital 6.65%, 5/15/37(2)				300		262,345
Lloyds Banking Group PLC 5.92%, 10/1/15(2)(3)		GB		500		355,000
Lloyds TSB Bank PLC 6.50%, 9/14/20(3)		GB		4,050		4,089,022
Merrill Lynch & Co., Inc. 5.70%, 5/2/17				400		413,695
Morgan Stanley 5.50%, 7/24/20				3,200		3,296,698
Royal Bank of Scotland PLC 1.03%, 9/29/15(2)		GB		2,500		2,127,915
3.95%, 9/21/15		GB		2,000		2,020,910
UBS AG 2.25%, 8/12/13		CH		5,000		5,050,625

SUN CAPITAL INVESTMENT GRADE BOND FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code*		Principal Amount (000)		Value
UBS Preferred Funding Trust I 8.62%, 10/1/10(2)			$	2,200	$	2,200,000
Westpac Banking Corp. 1.08%, 4/8/13(2)(3)		AU		3,000		3,000,000
						42,459,226
BROKERAGE – 0.1%
Jefferies Group, Inc. 6.25%, 1/15/36				500		459,084
BUILDING MATERIALS – 0.1%
C10 Capital SPV., Ltd. 6.72%, 12/31/16(2)(3)		VG		650		423,963
CABLE – 0.5% DIRECTV Holdings LLC 7.63%, 5/15/16				1,000		1,115,000
Time Warner Entertainment Co. 10.15%, 5/1/12				500		566,826
						1,681,826
DIVERSIFIED – 0.9%
Noble Group Ltd. 4.88%, 8/5/15(3)		BM		3,000		3,103,725
ELECTRIC UTILITIES – 5.6%
Allegheny Energy Supply Co. LLC 5.75%, 10/15/19(3)				1,500		1,551,496
8.25%, 4/15/12(3)				750		809,954
Ameren Corp. 8.88%, 5/15/14				4,000		4,633,744
Centerpoint Energy, Inc. 6.50%, 5/1/18				750		870,524
CMS Energy Corp. 4.25%, 9/30/15				5,000		5,043,140
Enel Finance International SA 5.13%, 10/7/19(3)		LU		2,000		2,121,052
Georgia Power Co. 0.61%, 3/15/13(2)				2,500		2,507,440
PSEG Energy Holdings, Inc. 8.50%, 6/15/11				200		204,331
Toledo Edison Co. 7.25%, 5/1/20				1,850		2,329,749
						20,071,430
ELECTRONIC EQUIPMENT & INSTRUMENTS – 0.3%
Jabil Circuit, Inc. 7.75%, 7/15/16				1,000		1,096,250
FINANCIALS – 5.2%
Allied Capital Corp. 6.00%, 4/1/12				500		510,311
Caisse centrale Desjardins du Quebec 1.70%, 9/16/13(3)		CA		5,000		5,036,210
Discover Financial Services 6.45%, 6/12/17				2,650		2,850,626

	Country Code*		Principal Amount (000)		Value
GATX Corp. 4.75%, 5/15/15			$	2,000	$	2,138,394
General Electric Capital Corp. 1.88%, 9/16/13				5,000		5,015,040
International Lease Finance Corp. 8.63%, 9/15/15(3)				3,000		3,210,000
						18,760,581
FOOD, BEVERAGES & RESTAURANTS – 1.0%
Corn Products International, Inc. 4.63%, 11/1/20				3,500		3,580,356
GAMING – 0.6% Mashantucket Western Pequot Tribe 8.50%, 11/15/15(1)(3)				1,000		150,000
MGM Resorts International 11.13%, 11/15/17				1,000		1,138,750
Wynn Las Vegas Capital Corp. 7.75%, 8/15/20(3)				1,000		1,055,000
						2,343,750
GAS & PIPELINE UTILITIES – 1.7%
Enterprise Products Operating LP 7.03%, 1/15/18(2)				1,000		995,000
Florida Gas Transmission Co. LLC 7.90%, 5/15/19(3)				3,500		4,392,825
Southern Union Co. 7.20%, 11/1/11(2)				380		342,950
TransCanada PipeLines Ltd. 6.35%, 5/15/17(2)		CA		600		561,000
						6,291,775
HEALTH CARE – 1.1%
Hospira, Inc. 5.60%, 9/15/40				4,000		4,142,212
HOME CONSTRUCTION – 0.2%
KB Home & Broad Home Corp. 6.38%, 8/15/11				650		660,562
HOTELS, RESTAURANTS & LEISURE – 0.8%
Wyndham Worldwide Corp. 5.75%, 2/1/18				3,000		3,009,501
INSURANCE – 5.1%
Assured Guaranty US Holdings, Inc. 6.40%, 12/15/16(2)				600		438,000

SUN CAPITAL INVESTMENT GRADE BOND FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code*		Principal Amount (000)		Value
CNA Financial Corp. 5.88%, 8/15/20			$	4,600	$	4,690,477
Humana, Inc. 6.45%, 6/1/16				500		555,073
Liberty Mutual Group, Inc. 7.80%, 3/15/37(3)				750		708,750
Metropolitan Life Global Funding I 2.50%, 9/29/15(3)				5,000		5,009,380
New York Life Global Funding 2.25%, 12/14/12(3)				4,725		4,844,245
Prudential Financial, Inc. 3.63%, 9/17/12				2,000		2,078,420
						18,324,345
MACHINERY – 0.3%
Case New Holland, Inc. 7.75%, 9/1/13				1,000		1,086,250
MANUFACTURING - DIVERSIFIED – 1.4%
Ingersoll Rand Global Holding Co., Ltd. 9.50%, 4/15/14		BM		1,750		2,165,336
Textron, Inc. 7.25%, 10/1/19				2,500		2,960,970
						5,126,306
METALS & MINING – 1.3%
ArcelorMittal 9.85%, 6/1/19		LU		1,137		1,461,393
Teck Resources, Ltd. 10.75%, 5/15/19		CA		2,500		3,148,250
						4,609,643
MULTIMEDIA – 1.1%
NBC Universal Inc. 4.38%, 4/1/21(3)(4)				4,000		4,048,736
OFFICE EQUIPMENT – 1.1%
Xerox Corp. 6.75%, 2/1/17				3,500		4,103,743
OIL & GAS - EXPLORATION & PRODUCTION – 1.9%
Anadarko Petroleum Corp. 6.20%, 3/15/40				4,000		3,899,536
Motiva Enterprises LLC 6.85%, 1/15/40(3)				2,500		2,996,345
						6,895,881
OIL FIELD SERVICES – 0.7%
Pride International, Inc. 8.50%, 6/15/19				2,200		2,552,000

	Country Code*		Principal Amount (000)		Value
PAPER PRODUCTS – 0.4%
International Paper Co. 9.38%, 5/15/19			$	1,000	$	1,297,286
PIPELINES – 1.3%
El Paso Pipeline Partners Operating Co. LP 6.50%, 4/1/20				2,000		2,159,044
Williams Partners LP 6.30%, 4/15/40				2,200		2,425,199
						4,584,243
REAL ESTATE INVESTMENT TRUSTS – 3.5%
Developers Diversified Realty Corp. 7.88%, 9/1/20				4,000		4,144,628
Dexus Finance Property, Ltd. 7.13%, 10/15/14(3)		AU		4,400		4,845,408
National Retail Properties, Inc. 6.25%, 6/15/14				550		602,768
Prologis 6.63%, 5/15/18				1,750		1,724,838
Reckson Operating Partnership 5.15%, 1/15/11				700		701,029
Simon Property Group LP 5.75%, 5/1/12				550		578,933
						12,597,604
RETAIL – 0.8%
Controladora Comercial Mexicana S.A. de C.V. 6.63%, 6/1/15(1)		MX		600		366,622
QVC, Inc. 7.13%, 4/15/17(3)				2,500		2,587,500
						2,954,122
TELECOMMUNICATIONS – 2.1%
Frontier Communications Corp. 8.25%, 4/15/17				2,500		2,734,375
Nextel Communications, Inc. Series C 5.95%, 3/15/14				2,000		1,990,000
Telecom Italia Capital SpA 7.18%, 6/18/19		LU		2,500		2,934,235
						7,658,610
Total Corporate Debt Obligations (Cost $190,557,745)						198,141,059

SUN CAPITAL INVESTMENT GRADE BOND FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code*	Principal Amount (000)		Value
RESIDENTIAL NON-AGENCY MORTGAGE BACKED SECURITIES – 2.2%
JP Morgan Mortgage Trust, Series 2003-A1, Class 1A1 2.69%, 10/25/33(2)		$	1,028	$	1,017,815
JP Morgan Mortgage Trust, Series 2005-A3, Class 7CA1 2.92%, 6/25/35(2)			37		32,538
JP Morgan Mortgage Trust, Series 2005-A5, Class TA1 5.43%, 8/25/35(2)			768		783,507
Master Adjustable Rate Mortgage Trust, Series 2006-2, Class 3A1 3.95%, 1/25/36(2)			167		148,120
MLCC Mortgage Investors, Inc., Series 2006-2, Class 2A 4.83%, 5/25/36(2)			2,063		1,957,837
Residential Accredited Loans, Inc., Series 2005-QA7, Class A22 3.16%, 7/25/35(2)			785		561,119
Wamu Mortgage Pass Through Certificates, Series 2003-AR10, Class A7 2.78%, 10/25/33(2)			385		371,715
Wamu Mortgage Pass Through Certificates, Series 2004-AR14, Class A1 2.73%, 1/25/35(2)			1,232		1,209,447
Wamu Mortgage Pass Through Certificates, Series 2005-AR18, Class 3A2 5.54%, 1/25/36(2)			224		72,243
Wells Fargo Mortgage Backed Securities Trust, Series 2004-AA, Class A1 4.99%, 12/25/34(2)			698		686,020
Wells Fargo Mortgage Backed Securities Trust, Series 2004-K, Class 1A2 4.47%, 7/25/34(2)			1,047		1,065,193
Total Residential Non-Agency Mortgage Backed Securities (Cost $7,606,530)					7,905,554
U.S. GOVERNMENT GUARANTEED NOTES – 0.7%
FDIC Structured Sale Guaranteed Notes, Series 2010-S1, Class 1A 0.81%, 2/25/48(2)(3)			1,704		1,707,604

	Country Code*	Principal Amount (000)		Value
TLGP General Electric Capital Corp. 0.37%, 3/11/11(2)		$	1,000	$	1,000,892
Total U.S. Government Guaranteed Notes (Cost $2,704,368)					2,708,496
U.S. TREASURY AND U.S. GOVERNMENT AGENCY OBLIGATIONS – 38.4%
Federal Home Loan Mortgage Corp.
2.73%, 8/1/32(2)			35		35,486
4.50%, TBA(4)			4,000		4,206,248
5.00%, 9/1/19			164		175,028
5.00%, 11/1/19			330		352,236
5.00%, TBA(4)			33,900		35,605,577
5.50%, 10/1/17			83		88,975
5.50%, 11/1/17			166		178,964
5.50%, 6/1/33			172		184,134
5.50%, 9/1/37			662		702,205
5.50%, 5/1/38			113		119,579
5.50%, 2/1/39			201		213,036
6.00%, 1/1/17			58		62,935
6.00%, 2/1/29			12		13,233
6.00%, 8/1/37			412		442,375
6.50%, 10/1/16			33		35,780
6.50%, 11/1/16			4		4,113
6.50%, 9/1/34			231		255,059
7.00%, 11/1/29			17		19,159
7.00%, 1/1/31			6		6,473
7.00%, 4/1/31			4		4,007
7.00%, 8/1/31			77		87,875
7.50%, 3/1/30			4		4,183
7.50%, 12/1/30			16		18,383
Federal National Mortgage Association
4.00%, TBA(4)			5,000		5,218,750
4.50%, 6/1/19			682		724,040
5.00%, 6/1/18			211		224,720
5.00%, 7/1/20			469		500,692
5.00%, 10/1/20			193		205,765
5.00%, 12/1/20			116		124,136
5.00%, 10/1/35			35		36,609
5.00%, 5/1/36			1,400		1,467,658
5.00%, 7/1/36			381		403,772
5.00%, 9/1/39			11,548		12,163,632
5.00%, TBA(4)			28,000		29,470,000
5.50%, 3/1/22			162		174,042
5.50%, 12/1/32			773		830,612
5.50%, 6/1/35			713		762,398
5.50%, 8/1/35			434		464,651
5.50%, 6/1/37			1,101		1,171,536
5.50%, 11/1/38			6,160		6,553,888
6.00%, 12/1/13			2		1,809
6.00%, 11/1/16			10		11,305
6.00%, 1/25/32			835		910,222
6.00%, 12/1/36			412		444,840
6.00%, 11/1/37			338		363,538
6.00%, 10/1/38			212		228,207
8.00%, 8/1/30			3		3,392
Government National Mortgage Association

SUN CAPITAL INVESTMENT GRADE BOND FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code*		Principal Amount (000)		Value
5.50%, 12/15/38			$	4,447	$	4,787,789
6.00%, 8/15/16				23		25,327
6.00%, TBA(4)				300		325,500
6.50%, 9/15/31				46		51,721
6.50%, 3/15/32				36		40,561
6.50%, 9/15/32				73		81,590
6.50%, 10/15/32				118		131,972
7.00%, 12/15/14				14		15,238
7.00%, 2/15/28				15		16,596
7.50%, 3/15/30				3		3,374
7.50%, 9/15/30				12		13,231
U.S. Treasury Inflation Indexed Bonds
1.88%, 7/15/13				1,187		1,261,558
2.00%, 1/15/14				6,194		6,643,406
U.S. Treasury Notes
2.38%, 3/31/16				5,000		5,242,580
3.50%, 5/15/20				7,780		8,444,957
4.25%, 11/15/14				5,000		5,668,360
4.25%, 11/15/17				500		578,554
Total U.S. Treasury and U.S. Government Agency Obligations (Cost $134,728,094)						138,607,571
SHORT TERM INVESTMENTS – 23.5%
COMMERCIAL PAPER(5) – 12.8%
Coca-Cola Co. 0.20%, 11/29/10(3)				5,000		4,998,361
FCAR Owner Trust
0.28%, 10/26/10				130		129,975
0.30%, 12/1/10				4,670		4,667,758
Hewlett-Packard Co. 0.19%, 10/12/10(3)				5,000		4,999,710
JP Morgan Chase & Co. 0.20%, 10/18/10				4,265		4,264,597
PepsiCo, Inc. 0.18%, 11/23/10(3)				4,000		3,998,940
Procter & Gamble International Funding SCA 0.19%, 10/20/10(3)		LU		4,200		4,199,579
Societe Generale North America 0.23%, 10/1/10				5,000		5,000,000
Thunder Bay Funding LLC 0.23%, 10/21/10(3)				5,000		4,999,361
United Parcel Service, Inc. 0.17%, 11/1/10(3)				6,000		5,999,122
Wal-Mart Stores, Inc. 0.20%, 10/26/10(3)				2,900		2,899,597
Total Commercial Paper (Cost $46,156,867)						46,157,000

	Country Code*		Principal Amount (000)		Value
FOREIGN GOVERNMENT OBLIGATIONS(5) – 3.3%
Canadian Wheat Board 0.17%, 10/27/10		CA	$	2,000	$	1,999,754
Export Development Canada 0.20%, 10/19/10		CA		3,000		2,999,700
Province of British Columbia 0.23%, 10/12/10		CA		3,000		2,999,789
Province of Ontario 0.22%, 10/5/10		CA		4,000		3,999,903
Total Foreign Government Obligations (Amortized cost $11,999,146)						11,999,146
FOREIGN GOVERNMENT SPONSORED COMMERCIAL PAPER(5) – 1.4%
Kreditanstalt fuer Wiederaufbau 0.17%, 10/5/10(3) (Amortized cost $4,999,906)		DE		5,000		4,999,906
			Shares
MUTUAL FUNDS – 6.0%
Federated Prime Obligation Fund				11,068,815		11,068,815
State Street Institutional Liquid Reserves Fund				10,457,382		10,457,382
Total Mutual Funds (Cost $21,526,197)						21,526,197
Total Short Term Investments (Cost $84,682,116)						84,682,249
TOTAL INVESTMENTS – 121.8% (Cost $427,756,269)						439,493,589
Liabilities in excess of other assets – (21.8)%						(78,741,211	)
NET ASSETS – 100.0%					$	360,752,378

FDIC Federal Deposit Insurance Corporation

TBA To Be Announced. Securities are purchased on a forward commitment basis with an approximate principal amount and no definite maturity date. The actual principal and maturity date will be determined upon settlement when the specific mortgage pools are assigned. At the period end, total market value of the TBA securities amounts to $74,826,075 which represents approximately 20.7% of net assets.

TLGP Temporary Liquidity Guarantee Program. Under the Temporary Liquidity Guarantee Program, the Federal Deposit Insurance Corporation guarantees principal and interest in the event of payment default or bankruptcy until the earlier of maturity date of the debt or until June 30, 2012.

AU Australia

SUN CAPITAL INVESTMENT GRADE BOND FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

BM Bermuda

CA Canada

CH Switzerland

DE Germany

GB Great Britain

LU Luxembourg

MX Mexico

VG British Virgin Islands

* Unless otherwise noted the issuer country code for all securities is United States.

** Security is fair valued by management.

(1) Security is in default and is non-income producing.

(2) Variable rate security. The interest rate shown reflects the rate in effect at the period end.

(3) Eligible for resale under rule 144A or exempt from registration under Section 4(2) of the Securities Act of 1933. These securities may be resold in transactions exempt from registration. At the period end, the value of these securities amounted to $106,786,196, representing 29.6% of net assets.

(4) Security (or a portion thereof) has been purchased on a delayed delivery or when-issued basis.

(5) Interest rates represent annualized yield at date of purchase.

SUN CAPITAL INVESTMENT GRADE BOND FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

(6) Fair Value Measurements †

The following table summarizes the inputs used to value the Fund’s assets and liabilities, as applicable, measured at fair value at the period end:

Assets	Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)			Total
Asset Backed Securities	$	—	$	387,813	$	—	*	$	387,813
Commercial Mortgage Backed Securities		—		7,060,847		—			7,060,847
Corporate Debt Obligations (a)		—		198,141,059		—			198,141,059
Residential Non-Agency Mortgage Backed Securities		—		7,905,554		—			7,905,554
U.S. Government Guaranteed Notes		—		2,708,496		—			2,708,496
U.S. Treasury and U.S. Government Agency Obligations		27,839,415		110,768,156		—			138,607,571
Short Term Investments
Commercial Paper		4,667,758		41,489,242		—			46,157,000
Foreign Government Obligations		—		11,999,146		—			11,999,146
Foreign Government Sponsored Commercial Paper		—		4,999,906		—			4,999,906
Mutual Funds		21,526,197		—		—			21,526,197
Total Short Term Investments		26,193,955		58,488,294		—			84,682,249
Total Investments	$	54,033,370	$	385,460,219	$	—	*	$	439,493,589

† See Note 2b in the Notes to Portfolios of Investments for additional information.

* The only investment held by the Fund whose fair value was determined using Level 3 inputs had a value of $0 and $0 at December 31, 2009, and September 30, 2010.

(a) See Portfolio of Investments for additional detailed categorizations.

SUN CAPITAL MONEY MARKET FUND

PORTFOLIO OF INVESTMENTS

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code*		Principal Amount (000)		Value
COMMERCIAL PAPER(1) – 53.3%
Bank of America Corp. 0.20%, 10/6/10			$	4,900	$	4,899,864
Bank of Montreal
0.18%, 10/22/10		CA		2,000		1,999,790
0.19%, 11/12/10		CA		3,000		2,999,335
Barclays U.S. Funding LLC
0.20%, 11/15/10				3,000		2,999,250
0.22%, 10/8/10				2,000		1,999,914
Caterpillar Financial Services Corp. 0.22%, 12/8/10				2,777		2,775,846
Coca-Cola Co.
0.20%, 11/23/10(2)				3,500		3,498,969
0.22%, 11/29/10(2)				3,300		3,298,810
E.I. du Pont de Nemours & Co. 0.19%, 10/19/10(2)				3,400		3,399,677
FCAR Owner Trust 0.27%, 10/25/10				5,000		4,999,100
General Electric Capital Corp. 0.16%, 11/15/10				3,500		3,499,300
Hewlett-Packard Co.
0.19%, 10/7/10(2)				2,000		1,999,937
0.19%, 10/12/10(2)				4,000		3,999,768
0.20%, 10/1/10(2)				1,000		1,000,000
HSBC Finance Corp. 0.22%, 10/29/10				4,000		3,999,316
JP Morgan Chase & Co.
0.15%, 10/1/10				1,400		1,400,000
0.20%, 10/18/10				3,600		3,599,660
Nestle Capital Corp.
0.18%, 11/19/10(2)				1,500		1,499,633
0.18%, 12/7/10(2)				1,000		999,665
0.22%, 12/15/10(2)				2,000		1,999,083
Nestle Finance International Ltd. 0.21%, 11/8/10		LU		1,000		999,778
PepsiCo, Inc.
0.18%, 11/2/10(2)				2,000		1,999,680
0.18%, 11/23/10(2)				2,000		1,999,470
0.19%, 10/13/10(2)				3,000		2,999,810
Procter & Gamble Co. 0.26%, 11/22/10(2)				1,000		999,625
Procter & Gamble International Funding SCA 0.19%, 10/20/10(2)		LU		5,800		5,799,418
Societe Generale North America 0.23%, 10/1/10				1,500		1,500,000
State Street Corp. 0.25%, 10/4/10				5,000		4,999,896
The Goldman Sachs Group, Inc. 0.21%, 10/18/10				2,000		1,999,802

	Country Code*		Principal Amount (000)		Value
Thunder Bay Funding LLC 0.23%, 10/21/10(2)			$	5,000	$	4,999,361
Toyota Motor Credit Corp. 0.22%, 12/21/10				2,000		1,999,010
UBS Finance Delaware LLC 0.18%, 10/18/10				1,527		1,526,870
0.25%, 10/8/10				2,443		2,442,881
United Parcel Service, Inc. 0.17%, 11/1/10(2)				7,000		6,998,975
Wal-Mart Stores, Inc. 0.20%, 10/7/10(2)				4,300		4,299,857
0.20%, 10/26/10(2)				2,700		2,699,625
Total Commercial Paper (Amortized cost $105,130,975)						105,130,975
FOREIGN GOVERNMENT OBLIGATIONS(1) – 9.1%
Canadian Wheat Board 0.17%, 10/27/10		CA		3,000		2,999,632
Export Development Canada 0.20%, 10/19/10		CA		3,000		2,999,700
Province of British Columbia 0.23%, 10/12/10		CA		3,000		2,999,789
0.37%, 11/30/10		CA		3,000		2,998,150
0.40%, 10/12/10		CA		1,000		999,878
Province of Ontario 0.22%, 10/5/10		CA		5,000		4,999,878
Total Foreign Government Obligations (Amortized cost $17,997,027)						17,997,027
FOREIGN GOVERNMENT SPONSORED COMMERCIAL PAPER(1) – 5.1%
European Investment Bank SNAT 0.21%, 12/17/10				5,000		4,997,754
Kreditanstalt fuer Wiederaufbau
0.18%, 10/27/10(2)		DE		2,000		1,999,740
0.20%, 10/14/10(2)		DE		3,000		2,999,783
Total Foreign Government Sponsored Commercial Paper (Amortized cost $9,997,277)						9,997,277
U.S. GOVERNMENT GUARANTEED NOTES – 9.6%
TLGP General Electric Capital Corp. 0.37%, 3/11/11(3)				7,000		7,000,000
TLGP Goldman Sachs Group, Inc. 0.37%, 3/15/11(3)				12,000		12,000,000
Total U.S. Government Guaranteed Notes (Amortized cost $19,000,000)						19,000,000
U.S. TREASURY AND U.S. GOVERNMENT AGENCY OBLIGATIONS(1) – 14.3%
Federal Home Loan Mortgage Corp. Discount Notes
0.16%, 10/13/10				1,215		1,214,935
0.16%, 11/16/10				2,000		1,999,604
Federal National Mortgage Association Discount Notes
0.13%, 11/15/10				700		699,886

SUN CAPITAL MONEY MARKET FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code*	Principal Amount (000)		Value
0.16%, 11/10/10		$	1,000	$	999,828
0.17%, 10/4/10			550		549,992
0.17%, 11/17/10			495		494,890
0.18%, 10/1/10			1,594		1,594,000
U.S. Treasury Bills
0.13%, 12/2/10			3,000		2,999,349
0.15%, 10/28/10			4,910		4,909,466
0.15%, 11/18/10			4,200		4,199,146
0.15%, 11/26/10			4,000		3,999,061
0.15%, 12/16/10			4,500		4,498,575
Total U.S. Treasury and U.S. Government Agency Obligations (Amortized cost $28,158,732)					28,158,732
		Shares
MUTUAL FUNDS – 8.2%
Federated Prime Obligation Fund			7,868,361		7,868,361
State Street Institutional Liquid Reserves Fund			8,296,424		8,296,424
Total Mutual Funds (Cost $16,164,785)					16,164,785
TOTAL INVESTMENTS – 99.6% (Cost $196,448,796)					196,448,796
Other assets less liabilities – 0.4%					818,897
NET ASSETS – 100.0%				$	197,267,693

SNAT Supranational

TLGP Temporary Liquidity Guarantee Program. Under the Temporary Liquidity Guarantee Program, the Federal Deposit Insurance Corporation guarantees principal and interest in the event of payment default or bankruptcy until the earlier of maturity date of the debt or until June 30, 2012.

CA Canada

DE Germany

LU Luxembourg

* Unless otherwise noted the issuer country code for all securities is United States.

(1) Interest rates represent annualized yield at date of purchase.

(2) Security exempt from registration under Section 4(2) of the Securities Act of 1933. These securities may be resold in transactions exempt from registration. At the period end, the value of these securities amounted to $59,490,886, representing 30.2% of net assets.

(3) Variable rate security. The interest rate shown reflects the rate in effect at the period end.

SUN CAPITAL MONEY MARKET FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

(4) Fair Value Measurements †

The following table summarizes the inputs used to value the Fund’s assets and liabilities, as applicable, measured at fair value at the period end:

Assets	Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Commercial Paper	$	—	$	105,130,975	$	—	$	105,130,975
Foreign Government Obligations		—		17,997,027		—		17,997,027
Foreign Government Sponsored Commercial Paper		—		9,997,277		—		9,997,277
U.S. Government Guaranteed Notes		—		19,000,000		—		19,000,000
U.S. Treasury and U.S. Government Agency Obligations		—		28,158,732		—		28,158,732
Mutual Funds		16,164,785		—		—		16,164,785
Total Investments	$	16,164,785	$	180,284,011	$	—	$	196,448,796

† See Note 2b in the Notes to Portfolios of Investments for additional information.

SUN CAPITAL GLOBAL REAL ESTATE FUND

PORTFOLIO OF INVESTMENTS

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code**		Shares		Value
COMMON STOCKS – 95.5%
REAL ESTATE INVESTMENT TRUSTS – 72.0%
DIVERSIFIED – 8.9%
British Land Co. PLC		GB		301,518	$	2,202,493
CapLease, Inc.				510,892		2,855,886
Cousins Properties, Inc.				283,702		2,025,632
Land Securities Group PLC		GB		254,222		2,557,883
Stockland		AU		1,777,031		6,595,541
Vornado Realty Trust				64,576		5,523,185
						21,760,620
INDUSTRIAL – 6.4%
DuPont Fabros Technology, Inc.				146,906		3,694,686
Goodman Group		AU		8,062,011		5,026,055
Segro PLC		GB		1,600,271		6,862,851
						15,583,592
MORTGAGE – 1.4%
Starwood Property Trust, Inc.				165,951		3,297,446
OFFICE – 12.6%
Alexandria Real Estate Equities, Inc.				26,068		1,824,760
BioMed Realty Trust, Inc.				263,944		4,729,877
Boston Properties, Inc.				31,370		2,607,474
Digital Realty Trust, Inc.				81,784		5,046,073
Douglas Emmett, Inc.				95,430		1,670,979
Duke Realty Corp.				134,146		1,554,752
Lexington Realty Trust				361,200		2,586,192
Mack-Cali Realty Corp.				103,700		3,392,027
Nippon Building Fund, Inc.		JP		262		2,294,226
Parkway Properties, Inc.				246,025		3,641,170
SL Green Realty Corp.				20,511		1,298,962
						30,646,492
RESIDENTIAL – 5.4%
Equity Lifestyle Properties, Inc.				67,413		3,672,660
Equity Residential				30,059		1,429,907
Home Properties, Inc.				73,303		3,877,729
Mid-America Apartment Communities, Inc.				69,586		4,055,472
						13,035,768
RETAIL – 25.1%
CFS Retail Property Trust		AU		2,528,544		4,631,310
Corio NV		NL		71,592		4,894,531
Federal Realty Investment Trust				17,027		1,390,425
Hammerson PLC		GB		798,252		4,944,418
Japan Retail Fund Investment Corp.		JP		888		1,249,880
Kimco Realty Corp.				123,370		1,943,078
Klepierre		FR		95,296		3,675,219
Mercialys SA		FR		57,340		2,235,627
Simon Property Group, Inc.				100,707		9,339,567
The Link REIT		HK		1,937,176		5,742,481
Unibail-Rodamco		FR		49,145		10,897,052

	Country Code**		Shares		Value
Westfield Group		AU		857,964	$	10,166,786
						61,110,374
SPECIALIZED – 12.2%
Big Yellow Group PLC		GB		343,233		1,759,898
Entertainment Properties Trust				115,460		4,985,563
Medical Properties Trust, Inc.				520,779		5,280,699
Nationwide Health Properties, Inc.				32,515		1,257,355
Plum Creek Timber Co., Inc.				85,671		3,024,187
Public Storage				50,605		4,910,709
Ventas, Inc.				73,128		3,771,211
Weyerhaeuser Co.				303,351		4,780,812
						29,770,434
						175,204,726
REAL ESTATE MANAGEMENT & DEVELOPMENT – 23.5%
DIVERSIFIED REAL ESTATE ACTIVITIES – 17.1%
Beni Stabili S.p.A		IT		952,992		895,126
Capitaland Ltd.		SG		2,160,367		6,669,523
Hang Lung Properties, Ltd.		HK		902,375		4,390,426
Mitsubishi Estate Co. Ltd.		JP		356,563		5,800,342
Mitsui Fudosan Co., Ltd.		JP		342,462		5,776,072
Sun Hung Kai Properties, Ltd.		HK		726,936		12,526,514
Tokyo Tatemono Co., Ltd.		JP		400,510		1,535,257
Wharf Holdings, Ltd.		HK		649,931		4,171,567
						41,764,827
REAL ESTATE OPERATING COMPANIES – 6.4%
Atrium European Real Estate Ltd.		JE		1,152,975		6,406,630
BR Malls Participacoes SA		BR		696,506		5,820,683
NTT Urban Development Corp.		JP		1,987		1,670,908
PSP Swiss Property AG*		CH		21,444		1,585,413
						15,483,634
						57,248,461
Total Common Stocks (Cost $187,110,332)						232,453,187
SHORT TERM INVESTMENTS – 4.3%
MUTUAL FUNDS – 4.3%
Federated Prime Obligation Fund				3,534,264		3,534,264
State Street Institutional Liquid Reserves Fund				7,010,260		7,010,260
Total Short Term Investments (Cost $10,544,524)						10,544,524
TOTAL INVESTMENTS – 99.8% (Cost $197,654,856)						242,997,711
Other assets less liabilities – 0.2%						545,690
NET ASSETS – 100.0%					$	243,543,401

REIT Real Estate Investment Trust

AU Australia

BR Brazil

SUN CAPITAL GLOBAL REAL ESTATE FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

CH Switzerland

FR France

GB Great Britain

HK Hong Kong

IT Italy

JE Jersey

JP Japan

NL Netherlands

SG Singapore

* Non-income producing security.

** Unless otherwise noted the issuer country code for all securities is United States.

SUN CAPITAL GLOBAL REAL ESTATE FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

Distribution of investments by country of issuer, as a percentage of net assets, is as follows. Figures may not total to 100% due to the exclusion of the Fund’s other assets and liabilities.

United States	45.2	%
Hong Kong	11.0
Australia	10.9
Great Britain	7.5
Japan	7.5
France	6.9
Singapore	2.7
Jersey	2.6
Brazil	2.4
Netherlands	2.0
Other (individually less than 2%)	1.1

SUN CAPITAL GLOBAL REAL ESTATE FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

(1) Fair Value Measurements

All investments are categorized as Level 1 under the fair value hierarchy. See Note 2b in the Notes to Portfolios of Investments for additional information.

During the period ended September 30, 2010, Sun Capital Global Real Estate Fund had securities with a total value of $133,088,706 transferred from Level 2 to Level 1 as a result of the fair value pricing techniques for international equities utilized by the Fund. The Fund recognizes transfers between the fair value measurement levels as of the beginning of the period.

SC DAVIS VENTURE VALUE FUND

PORTFOLIO OF INVESTMENTS

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code**		Shares		Value
COMMON STOCKS – 96.9%
AEROSPACE & DEFENSE – 0.3%
Lockheed Martin Corp.				20,440	$	1,456,963
AUTOMOBILES – 1.5%
Harley-Davidson, Inc.				232,046		6,599,388
BEVERAGES – 4.2%
Diageo PLC ADR		GB		93,897		6,479,832
Heineken Holding NV		NL		131,759		5,764,022
The Coca-Cola Co.				116,740		6,831,625
						19,075,479
CAPITAL MARKETS – 6.6%
Ameriprise Financial, Inc.				94,705		4,482,387
Bank of New York Mellon Corp.				472,760		12,353,219
GAM Holding, Ltd.*		CH		180,800		2,741,485
Julius Baer Group, Ltd.		CH		204,200		7,433,200
The Charles Schwab Corp.				15,400		214,060
The Goldman Sachs Group, Inc.				18,421		2,663,308
						29,887,659
CHEMICALS – 1.1%
Air Products & Chemicals, Inc.				8,600		712,252
Monsanto Co.				38,940		1,866,394
Potash Corp. of Saskatchewan, Inc.		CA		10,185		1,467,048
Praxair, Inc.				9,500		857,470
						4,903,164
COMMERCIAL BANKS – 4.2%
Wells Fargo & Co.				749,723		18,840,539
COMMERCIAL SERVICES & SUPPLIES – 1.6%
Iron Mountain, Inc.				330,824		7,390,608
COMPUTERS & PERIPHERALS – 0.9%
Hewlett-Packard Co.				94,980		3,995,809
CONSTRUCTION MATERIALS – 0.3%
Martin Marietta Materials, Inc.				4,800		369,456
Vulcan Materials Co.				30,974		1,143,560
						1,513,016
CONSUMER FINANCE – 4.8%
American Express Co.				510,075		21,438,452
CONTAINERS & PACKAGING – 2.3%
Sealed Air Corp.				465,033		10,453,942
DIVERSIFIED FINANCIAL SERVICES – 0.7%
JP Morgan Chase & Co.				12,536		477,246
Moody’s Corp.				102,996		2,572,840
						3,050,086
ELECTRICAL EQUIPMENT – 0.2%
ABB Ltd. ADR*		CH		43,020		908,582

	Country Code**		Shares		Value
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS – 1.1%
Agilent Technologies, Inc.*				143,148	$	4,776,849
ENERGY EQUIPMENT & SERVICES – 0.9%
Schlumberger, Ltd.		AN		11,600		714,676
Transocean, Ltd.*		CH		52,482		3,374,068
						4,088,744
FOOD & STAPLES RETAILING – 8.8%
Costco Wholesale Corp.				364,845		23,528,854
CVS Caremark Corp.				512,122		16,116,479
						39,645,333
FOOD PRODUCTS – 1.5%
Mead Johnson Nutrition Co., Class A				40,616		2,311,456
Nestle SA		CH		15,300		815,097
The Hershey Co.				34,620		1,647,566
Unilever NV		NL		63,750		1,904,850
						6,678,969
HEALTH CARE EQUIPMENT & SUPPLIES – 1.7%
Baxter International Inc.				60,760		2,898,860
Becton, Dickinson & Co.				65,700		4,868,370
						7,767,230
HEALTH CARE PROVIDERS & SERVICES – 1.8%
Express Scripts, Inc.*				164,721		8,021,913
HOUSEHOLD DURABLES – 0.1%
Hunter Douglas NV		AN		14,850		597,003
HOUSEHOLD PRODUCTS – 1.2%
The Procter & Gamble Co.				89,105		5,343,627
INDUSTRIAL CONGLOMERATES – 0.5%
Tyco International Ltd.		CH		60,422		2,219,300
INSURANCE – 10.7%
Aon Corp.				13,390		523,683
Berkshire Hathaway, Inc., Class A*				85		10,582,500
Fairfax Financial Holdings Ltd.		CA		5,200		2,116,986
Fairfax Financial Holdings Ltd.(1)		CA		1,960		798,173
Loews Corp.				402,260		15,245,654
Markel Corp.*				1,463		504,135
The Progressive Corp.				626,224		13,069,295
Transatlantic Holdings, Inc.				101,420		5,154,164
						47,994,590
INTERNET & CATALOG RETAIL – 0.4%
Liberty Media Corp. - Interactive, Series A*				116,182		1,592,855
INTERNET SOFTWARE & SERVICES – 1.2%
Google, Inc., Class A*				10,250		5,389,347
IT SERVICES – 0.3%
Visa, Inc., Class A				19,410		1,441,387

SC DAVIS VENTURE VALUE FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code**		Shares		Value
MARINE – 1.2%
China Shipping Development Co., Ltd.		CN		1,173,800	$	1,615,727
Kuehne & Nagel International AG		CH		32,086		3,852,998
						5,468,725
MEDIA – 0.8%
Grupo Televisa SA ADR		MX		105,956		2,004,688
Liberty Media-Starz, Series A*				9,177		595,404
The Walt Disney Co.				24,840		822,452
						3,422,544
METALS & MINING – 1.2%
BHP Billiton PLC		GB		85,600		2,722,997
Rio Tinto PLC		GB		46,472		2,716,436
						5,439,433
OIL, GAS & CONSUMABLE FUELS – 13.9%
Canadian Natural Resources, Ltd.		CA		314,202		10,871,389
China Coal Energy Co., Ltd.		CN		2,419,300		3,997,426
Devon Energy Corp.				195,231		12,639,255
EOG Resources, Inc.				187,833		17,462,834
Occidental Petroleum Corp.				184,960		14,482,368
OGX Petroleo e Gas Participacoes SA*		BR		246,100		3,207,154
						62,660,426
PAPER & FOREST PRODUCTS – 1.0%
Sino-Forest Corp.*		CA		269,730		4,493,315
Sino-Forest Corp.*(1)		CA		6,300		104,949
						4,598,264
PERSONAL PRODUCTS – 0.2%
Natura Cosmeticos SA		BR		28,600		769,090
PHARMACEUTICALS – 8.7%
Johnson & Johnson				205,890		12,756,944
Merck & Co., Inc.				366,433		13,488,399
Pfizer, Inc.				510,760		8,769,749
Roche Holding AG		CH		28,700		3,919,544
						38,934,636
PROFESSIONAL SERVICES – 0.2%
The Dun & Bradstreet Corp.				9,300		689,502
REAL ESTATE MANAGEMENT & DEVELOPMENT – 1.7%
Brookfield Asset Management, Inc.		CA		120,100		3,407,237
Hang Lung Group, Ltd.		HK		669,900		4,373,127
						7,780,364
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT – 1.8%
Texas Instruments, Inc.				292,845		7,947,813
SOFTWARE – 1.5%
Activision Blizzard, Inc.				228,220		2,469,340
Microsoft Corp.				177,000		4,334,730
						6,804,070

	Country Code**		Shares		Value
SPECIALTY RETAIL – 2.8%
Bed Bath & Beyond, Inc.*				177,080	$	7,687,043
CarMax, Inc.*				168,987		4,707,978
						12,395,021
TOBACCO – 1.2%
Philip Morris International, Inc.				94,228		5,278,653
TRANSPORTATION INFRASTRUCTURE – 1.4%
China Merchants Holdings International Co., Ltd.		HK		1,608,455		5,846,025
LLX Logistica SA*		BR		58,500		320,160
						6,166,185
WIRELESS TELECOMMUNICATION SERVICES – 0.4%
America Movil SAB de C.V. ADR, Series L		MX		34,550		1,842,551
Total Common Stocks (Cost $383,422,573)						435,268,111

	Principal Amount (000)
CORPORATE DEBT OBLIGATIONS – 0.3%
AUTOMOBILES – 0.3%
Harley-Davidson, Inc. 15.00%, 2/1/14 (Cost $1,000,000)	$	1,000		1,325,140
SHORT TERM INVESTMENTS – 1.0%
COMMERCIAL PAPER(2) – 1.0%
UBS Finance Delaware LLC 0.19%, 10/1/10 (Amortized cost $4,625,000)		4,625		4,625,000
TOTAL INVESTMENTS – 98.2% (Cost $389,047,573)				441,218,251
Other assets less liabilities – 1.8%				8,151,546
NET ASSETS – 100.0%			$	449,369,797

ADR American Depositary Receipt

AN Netherlands Antilles

BR Brazil

CA Canada

CH Switzerland

CN China

GB Great Britain

HK Hong Kong

MX Mexico

NL Netherlands

* Non-income producing security.

** Unless otherwise noted the issuer country code for all securities is United States.

SC DAVIS VENTURE VALUE FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

(1) Eligible for resale under rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the period end, the value of these securities amounted to $903,122, representing 0.2% of net assets.

(2) Interest rates represent annualized yield at date of purchase.

SC DAVIS VENTURE VALUE FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

(3) Fair Value Measurements †

The following table summarizes the inputs used to value the Fund’s assets and liabilities, as applicable, measured at fair value at the period end:

Assets	Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Common Stocks
Aerospace & Defense	$	1,456,963	$	—	$	—	$	1,456,963
Automobiles		6,599,388		—		—		6,599,388
Beverages		19,075,479		—		—		19,075,479
Capital Markets		29,887,659		—		—		29,887,659
Chemicals		4,903,164		—		—		4,903,164
Commercial Banks		18,840,539		—		—		18,840,539
Commercial Services & Supplies		7,390,608		—		—		7,390,608
Computers & Peripherals		3,995,809		—		—		3,995,809
Construction Materials		1,513,016		—		—		1,513,016
Consumer Finance		21,438,452		—		—		21,438,452
Containers & Packaging		10,453,942		—		—		10,453,942
Diversified Financial Services		3,050,086		—		—		3,050,086
Electrical Equipment		908,582		—		—		908,582
Electronic Equipment, Instruments & Components		4,776,849		—		—		4,776,849
Energy Equipment & Services		4,088,744		—		—		4,088,744
Food & Staples Retailing		39,645,333		—		—		39,645,333
Food Products		6,678,969		—		—		6,678,969
Health Care Equipment & Supplies		7,767,230		—		—		7,767,230
Health Care Providers & Services		8,021,913		—		—		8,021,913
Household Durables		597,003		—		—		597,003
Household Products		5,343,627		—		—		5,343,627
Industrial Conglomerates		2,219,300		—		—		2,219,300
Insurance		47,994,590		—		—		47,994,590
Internet & Catalog Retail		1,592,855		—		—		1,592,855
Internet Software & Services		5,389,347		—		—		5,389,347
IT Services		1,441,387		—		—		1,441,387
Marine		5,468,725		—		—		5,468,725
Media		3,422,544		—		—		3,422,544
Metals & Mining		5,439,433		—		—		5,439,433
Oil, Gas & Consumable Fuels		62,660,426		—		—		62,660,426
Paper & Forest Products		4,493,315		104,949		—		4,598,264
Personal Products		769,090		—		—		769,090
Pharmaceuticals		38,934,636		—		—		38,934,636
Professional Services		689,502		—		—		689,502
Real Estate Management & Development		7,780,364		—		—		7,780,364
Semiconductors & Semiconductor Equipment		7,947,813		—		—		7,947,813
Software		6,804,070		—		—		6,804,070
Specialty Retail		12,395,021		—		—		12,395,021
Tobacco		5,278,653		—		—		5,278,653
Transportation Infrastructure		6,166,185		—		—		6,166,185
Wireless Telecommunication Services		1,842,551		—		—		1,842,551
Total Common Stocks		435,163,162		104,949		—		435,268,111
Corporate Debt Obligations
Automobiles		—		1,325,140		—		1,325,140
Short Term Investments
Commercial Paper		—		4,625,000		—		4,625,000
Total Investments		435,163,162		6,055,089		—		441,218,251

† See Note 2b in the Notes to Portfolio of Investments for additional information.

During the period ended September 30, 2010, SC Davis Venture Value Fund had securities with a total value of $21,855,823 transferred from Level 2 to Level 1 as a result of the fair value pricing techniques for international equities utilized by the Fund. The Fund recognizes transfers between the fair value measurement levels as of the beginning of the period.

SC OPPENHEIMER MAIN STREET SMALL CAP FUND

PORTFOLIO OF INVESTMENTS

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code**		Shares		Value
COMMON STOCKS – 99.6%
AEROSPACE & DEFENSE – 1.7%
BE Aerospace, Inc.*				51,895	$	1,572,937
Ceradyne, Inc.*				13,672		319,241
Cubic Corp.				7,174		292,699
Ducommun, Inc.				2,370		51,619
GenCorp, Inc.*				27,920		137,366
LMI Aerospace, Inc.*				980		15,602
Spirit AeroSystems Holdings, Inc., Class A*				23,350		465,366
Teledyne Technologies, Inc.*				2,280		90,790
						2,945,620
AIR FREIGHT & LOGISTICS – 0.9%
Atlas Air Worldwide Holdings, Inc.*				6,072		305,422
HUB Group, Inc.*				41,933		1,226,959
						1,532,381
AIRLINES – 0.8%
Alaska Air Group, Inc.*				6,140		313,324
Allegiant Travel Co.				4,530		191,710
Hawaiian Holdings, Inc.*				36,398		218,024
JetBlue Airways Corp.*				52,110		348,616
Pinnacle Airlines Corp.*				6,860		37,250
Republic Airways Holdings, Inc.*				1,830		15,152
United Continental Holdings, Inc.*				14,040		331,765
						1,455,841
AUTO COMPONENTS – 0.7%
Cooper Tire & Rubber Co.				15,654		307,288
Dana Holding Corp.*				61,910		762,731
Federal-Mogul Corp.*				2,000		37,820
Fuel Systems Solutions, Inc.*				3,180		124,370
						1,232,209
BEVERAGES – 0.2%
Cott Corp.*		CA		38,334		300,922
BIOTECHNOLOGY – 1.7%
Acorda Therapeutics, Inc.*				13,785		455,181
Cubist Pharmaceuticals, Inc.*				14,010		327,694
Human Genome Sciences, Inc.*				12,090		360,161
Martek Biosciences Corp.*				15,869		359,115
PDL BioPharma, Inc.				44,203		232,508
Savient Pharmaceuticals, Inc.*				58,988		1,349,056
Targacept, Inc.*				1,260		28,148
						3,111,863
BUILDING PRODUCTS – 0.3%
Aaon, Inc.				6,243		146,835
Apogee Enterprises, Inc.				3,621		33,132
Gibraltar Industries, Inc.*				6,110		54,868
Quanex Building Products Corp.				4,230		73,052
Smith A O Corp.				4,560		263,979
						571,866

	Country Code**		Shares		Value
CAPITAL MARKETS – 3.4%
American Capital, Ltd.*				40,800	$	237,048
Ares Capital Corp.				75,800		1,186,270
BGC Partners, Inc.				586		3,498
BlackRock Kelso Capital Corp.				24,896		286,304
Calamos Asset Management, Inc.				3,360		38,640
Federated Investors, Inc., Class B				3,260		74,198
Fifth Street Finance Corp.				30,850		343,669
Gladstone Capital Corp.				14,760		166,345
Gladstone Investment Corp.				10,094		67,630
Hercules Technology Growth Capital, Inc.				5,670		57,324
Investment Technology Group, Inc.*				2,100		29,862
Knight Capital Group, Inc.*				49,505		613,367
MCG Capital Corp.				23,571		137,655
MF Global Holdings Ltd.*				143,944		1,036,397
Oppenheimer Holdings, Inc., Class A				610		17,050
optionsXpress Holdings, Inc.*				43,990		675,686
PennantPark Investment Corp.				979		10,387
Rodman & Renshaw Capital Group, Inc.*				25,276		54,343
Solar Capital Ltd.				990		21,236
Stifel Financial Corp.*				12,644		585,291
TICC Capital Corp.				13,070		135,274
Triangle Capital Corp.				3,986		63,696
W.P. Carey & Co., LLC				5,010		145,039
						5,986,209
CHEMICALS – 2.2%
Arch Chemicals, Inc.				1,260		44,213
Ashland, Inc.				5,223		254,726
Cytec Industries, Inc.				22,464		1,266,520
Hawkins, Inc.				6,031		213,618
Innophos Holdings, Inc.				14,235		471,179
Innospec, Inc.*				3,378		51,447
KMG Chemicals, Inc.				3,862		54,416
Koppers Holdings, Inc.				1,360		36,543
Minerals Technologies, Inc.				5,603		330,129
NewMarket Corp.				2,116		240,547
OM Group, Inc.*				5,370		161,744
Omnova Solutions, Inc.*				6,704		48,202
PolyOne Corp.*				22,632		273,621
Stepan Co.				1,991		117,688
W.R. Grace & Co.*				10,892		304,322
						3,868,915
COMMERCIAL BANKS – 2.8%
Alliance Financial Corp.				1,911		57,770
Banco Latinoamericano de Comercio Exterior SA, Class E		PA		10,131		146,393
Banco Macro SA ADR		AR		7,297		325,008
BBVA Banco Frances SA ADR		AR		7,604		75,280
CapitalSource, Inc.				94,964		507,108
Century Bancorp, Inc., Class A				2,150		51,363

SC OPPENHEIMER MAIN STREET SMALL CAP FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code**		Shares		Value
City Holding Co.				2,590	$	79,435
First Midwest Bancorp, Inc.				43,670		503,515
FirstMerit Corp.				25,580		468,626
Grupo Financiero Galicia SA ADR*		AR		380		3,792
Hancock Holding Co.				12,408		373,109
IBERIABANK Corp.				18,628		931,027
International Bancshares Corp.				2,879		48,626
National Bankshares, Inc.				1,656		42,725
Northrim Bancorp, Inc.				3,058		50,763
Synovus Financial Corp.				319,790		786,683
Westamerica Bancorporation				9,424		513,514
						4,964,737
COMMERCIAL SERVICES & SUPPLIES – 1.5%
Consolidated Graphics, Inc.*				5,874		243,477
Deluxe Corp.				20,952		400,812
Ennis, Inc.				8,502		152,101
G&K Services, Inc.				4,284		97,932
M&F Worldwide Corp.*				5,564		135,484
R.R. Donnelley & Sons Co.				16,066		272,479
UniFirst Corp.				4,422		195,231
Waste Connections, Inc.*				28,036		1,111,908
						2,609,424
COMMUNICATIONS EQUIPMENT – 2.9%
Arris Group, Inc.*				113,097		1,104,958
Black Box Corp.				6,214		199,221
Blue Coat Systems, Inc.*				81,194		1,953,528
Comtech Telecommunications Corp.*				6,890		188,441
Interdigital, Inc.*				10,752		318,367
Ituran Location and Control Ltd.		IL		3,662		52,733
Oplink Communications, Inc.*				410		8,134
Plantronics, Inc.				10,190		344,218
Polycom, Inc.*				32,130		876,506
Sierra Wireless, Inc.*		CA		11,360		117,803
						5,163,909
COMPUTERS & PERIPHERALS – 1.2%
China Digital TV Holding Co., Ltd. ADR*		KY		8,025		54,329
QLogic Corp.*				41,413		730,525
Rimage Corp*				2,854		46,920
STEC, Inc.*				690		8,591
Synaptics, Inc.*				45,484		1,279,920
						2,120,285
CONSTRUCTION & ENGINEERING – 0.9%
Chicago Bridge & Iron Co., NV*		NL		8,380		204,891
Comfort Systems USA, Inc.				3,397		36,450
Dycom Industries, Inc.*				13,078		130,649
EMCOR Group, Inc.*				11,410		280,572
Great Lakes Dredge & Dock Co.				15,940		92,611
Michael Baker Corp.*				5,263		173,469
Sterling Construction Co., Inc.*				5,618		69,551

	Country Code**		Shares		Value
Tutor Perini Corp.*				35,101	$	705,179
						1,693,372
CONSTRUCTION MATERIALS – 0.5%
Eagle Materials, Inc.				37,391		886,167
CONSUMER FINANCE – 1.3%
Advance America Cash Advance Centers, Inc.				36,085		145,422
Cash America International, Inc.				11,305		395,675
Credit Acceptance Corp.*				3,650		221,044
EZCORP, Inc., Class A*				19,791		396,612
First Cash Financial Services, Inc.*				14,400		399,600
Nelnet, Inc., Class A				15,931		364,501
World Acceptance Corp.*				7,404		326,961
						2,249,815
CONTAINERS & PACKAGING – 1.1%
Boise, Inc.*				26,488		171,907
Myers Industries, Inc.				7,939		68,196
Packaging Corp of America				58,814		1,362,721
Rock-Tenn Co.				5,931		295,423
						1,898,247
DIVERSIFIED CONSUMER SERVICES – 1.7%
Bridgepoint Education, Inc.*				5,770		89,204
Capella Education Co.*				21,145		1,641,275
Career Education Corp.*				15,508		332,957
Corinthian Colleges, Inc.*				19,618		137,718
CPI Corp.				1,910		49,431
Hillenbrand, Inc.				3,998		85,997
Lincoln Educational Services Corp.*				10,480		151,017
Pre-Paid Legal Services, Inc.*				3,792		236,962
Sotheby’s				8,530		314,074
						3,038,635
DIVERSIFIED FINANCIAL SERVICES – 1.1%
Encore Capital Group, Inc.*				8,312		149,782
Life Partners Holdings, Inc.				12,069		229,673
MSCI, Inc., Class A*				47,406		1,574,354
						1,953,809
DIVERSIFIED TELECOMMUNICATION SERVICES – 0.3%
Cincinnati Bell, Inc.*				85,861		229,249
HickoryTech Corp.				5,678		48,433
IDT Corp., Class B*				3,580		63,688
Neutral Tandem, Inc.*				5,650		67,517
Nortel Inversora SA ADR*		AR		3,258		78,225
Telecom Corp. of New Zealand Ltd. ADR		NZ		3,290		24,741
						511,853
ELECTRIC UTILITIES – 1.0%
Companhia Paranaense de Energia-Copel ADR		BR		16,296		362,586
El Paso Electric Co.*				10,403		247,383

SC OPPENHEIMER MAIN STREET SMALL CAP FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code**		Shares		Value
Empresa Distribuidora y Comercializadora Norte SA ADR*		AR		6,566	$	51,477
UIL Holdings Corp.				14,650		412,544
Unisource Energy Corp.				1,190		39,782
Westar Energy, Inc.				28,812		698,115
						1,811,887
ELECTRICAL EQUIPMENT – 1.8%
AZZ, Inc.				7,084		303,479
Brady Corp., Class A				1,540		44,922
Franklin Electric Co., Inc.				1,430		47,419
Fushi Copperweld, Inc.*				8,290		72,040
Generac Holdings, Inc.*				34,410		469,352
Harbin Electric, Inc.*				7,080		126,661
Hubbell, Inc., Class B				6,656		337,792
Jinpan International Ltd.		VG		9,560		96,365
Powell Industries, Inc.*				9,251		287,891
Regal-Beloit Corp.				16,742		982,588
Thomas & Betts Corp.*				9,138		374,841
						3,143,350
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS – 1.1%
Anixter International, Inc.*				5,516		297,809
AVX Corp.				22,190		306,666
Celestica, Inc.*		CA		10,460		88,178
Checkpoint Systems, Inc.*				2,690		54,741
Coherent, Inc.*				2,820		112,828
CTS Corp.				2,600		25,012
Insight Enterprises, Inc.*				18,943		296,268
MTS Systems Corp.				1,680		52,080
Multi Fineline Electronix, Inc.*				11,075		243,539
Park Electrochemical Corp.				220		5,795
Power-One, Inc.*				12,110		110,080
Spectrum Control, Inc.*				6,012		88,497
Tech Data Corp.*				19		766
Vishay Intertechnology, Inc.*				33,640		325,635
						2,007,894
ENERGY EQUIPMENT & SERVICES – 1.1%
Acergy SA ADR		LU		23,608		435,568
Atwood Oceanics, Inc.*				3,290		100,181
Bolt Technology Corp*				4,477		45,889
Cal Dive International, Inc.*				24,867		136,022
Compagnie Generale de Geophysique-Veritas ADR*		FR		9,046		197,565
Complete Production Services, Inc.*				10,090		206,340
Gulfmark Offshore, Inc., Class A*				383		11,766
Matrix Service Co.*				3,938		34,458
Oil States International, Inc.*				9,055		421,510
Precision Drilling Corp.*		CA		17,770		121,724
Superior Energy Services, Inc.*				3,100		82,739
TETRA Technologies, Inc.*				11,630		118,626
TGC Industries, Inc.*				10,956		42,071
						1,954,459
FOOD & STAPLES RETAILING – 0.1%
Nash Finch Co.				3,741		159,142

	Country Code**		Shares		Value
The Andersons, Inc.				2,570	$	97,403
						256,545
FOOD PRODUCTS – 1.9%
Cal-Maine Foods, Inc.				7,000		202,860
Corn Products International, Inc.				8,150		305,625
Darling International, Inc.*				21,580		183,862
Del Monte Foods Co.				19,520		255,907
Flowers Foods, Inc.				34,500		856,980
Fresh Del Monte Produce, Inc.*		KY		4,226		91,704
Overhill Farms, Inc.*				7,868		35,878
TreeHouse Foods, Inc.*				30,924		1,425,596
						3,358,412
GAS UTILITIES – 0.7%
AGL Resources, Inc.				375		14,385
Atmos Energy Corp.				9,986		292,090
Chesapeake Utilities Corp.				1,290		46,724
Nicor, Inc.				6,590		301,954
Southwest Gas Corp.				10,876		365,325
The Laclede Group, Inc.				4,514		155,372
						1,175,850
HEALTH CARE EQUIPMENT & SUPPLIES – 3.2%
American Medical Systems Holdings, Inc.*				9,621		188,379
Atrion Corp.				925		145,697
China Medical Technologies, Inc. ADR*		KY		320		4,157
Cyberonics, Inc.*				290		7,737
Dexcom, Inc.*				23,490		310,538
Greatbatch, Inc.*				30,078		697,509
Haemonetics Corp.*				590		34,533
Hill-Rom Holdings, Inc.				4,957		177,907
ICU Medical, Inc.*				2,840		105,903
Immucor, Inc.*				4,490		89,037
Integra Lifesciences Holdings Corp.*				21,032		829,923
Invacare Corp.				12,392		328,512
Kensey Nash Corp.*				7,189		207,690
Kinetic Concepts, Inc.*				8,336		304,931
Merit Medical Systems, Inc.*				3,376		53,645
Orthofix International*		AN		16,251		510,606
Quidel Corp.*				232		2,550
Sirona Dental Systems, Inc.*				7,658		275,994
STERIS Corp.				9,138		303,564
Symmetry Medical, Inc.*				8,889		85,690
Teleflex, Inc.				350		19,873
The Cooper Cos., Inc.				3,320		153,450
Utah Medical Products, Inc.				1,716		50,279
Volcano Corp.*				29,356		762,669
Young Innovations, Inc.				1,866		53,386
						5,704,159
HEALTH CARE PROVIDERS & SERVICES – 4.2%
Air Methods Corp.*				350		14,553
Allied Healthcare International, Inc.*				16,784		41,960
Almost Family, Inc.*				3,650		108,149
Amedisys, Inc.*				5,936		141,277

SC OPPENHEIMER MAIN STREET SMALL CAP FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code**		Shares		Value
America Service Group, Inc.				5,617	$	83,581
AMERIGROUP Corp.*				7,510		318,950
AmSurg Corp.*				15,212		265,906
Centene Corp.*				802		18,919
Chemed Corp.				4,530		258,074
Continucare Corp.*				16,056		67,435
Corvel Corp.*				1,188		50,431
Emergency Medical Services Corp., Class A*				5,724		304,803
Gentiva Health Services, Inc.*				10,319		225,470
Health Management Associates, Inc., Class A*				205,926		1,577,393
Healthspring, Inc.*				14,971		386,851
Healthways, Inc.*				3,946		45,931
HMS Holdings Corp.*				15,088		889,287
Kindred Healthcare, Inc.*				2,582		33,618
LHC Group, Inc.*				10,407		241,338
LifePoint Hospitals, Inc.*				8,898		311,964
Lincare Holdings, Inc.				12,124		304,191
Magellan Health Services, Inc.*				8,722		412,027
MEDNAX, Inc.*				2,730		145,509
Metropolitan Health Networks, Inc.*				22,876		86,929
Molina Healthcare, Inc.*				11,820		319,022
NovaMed, Inc.*				3,742		36,260
Providence Service Corp.*				2,620		42,942
Sun Healthcare Group, Inc.*				24,471		207,269
The Ensign Group, Inc.				3,352		60,168
Triple-S Management Corp., Class B*		PR		10,126		170,623
U.S. Physical Therapy, Inc.*				6,798		113,663
Universal American Financial Corp.				11,070		163,282
Universal Health Services, Inc., Class B				44		1,710
						7,449,485
HEALTH CARE TECHNOLOGY – 1.1%
Allscripts Heathcare Solutions, Inc.*				47,238		872,486
MedAssets, Inc.*				22,678		477,145
SXC Health Solutions Corp.*		CA		17,020		620,719
						1,970,350
HOTELS, RESTAURANTS & LEISURE – 2.4%
AFC Enterprises, Inc.*				7,119		88,276
Ambassadors Group, Inc.				6,827		77,418
Ameristar Casinos, Inc.				27,745		484,150
Bally Technologies, Inc.*				51,275		1,792,061
Bob Evans Farms, Inc.				1,540		43,228
Brinker International, Inc.				7,040		132,774
Carrols Restaurant Group, Inc.*				6,546		34,694
CEC Entertainment, Inc.*				10,739		368,670
Cracker Barrel Old Country Store, Inc.				950		48,222
Jack In The Box, Inc.*				32,729		701,710
Papa John’s International, Inc.*				12,729		335,791
Ruby Tuesday, Inc.*				4,790		56,857
Speedway Motorsports, Inc.				7,784		122,053
						4,285,904

	Country Code**		Shares		Value
HOUSEHOLD DURABLES – 0.6%
American Greetings Corp.				12,306	$	228,768
Blyth, Inc.				5,942		245,048
CSS Industries, Inc.				2,410		41,669
Helen of Troy, Ltd.*		BM		4,426		111,934
Kid Brands, Inc.*				8,452		72,687
La-Z-Boy, Inc.*				1,469		12,398
National Presto Industries, Inc.				3,076		327,502
						1,040,006
HOUSEHOLD PRODUCTS – 0.2%
Central Garden And Pet Co., Class A*				26,975		279,461
INDUSTRIAL CONGLOMERATES – 0.2%
Carlisle Cos., Inc.				3		90
Seaboard Corp.				75		132,825
Tredegar Corp.				15,788		299,656
						432,571
INSURANCE – 5.5%
Allied World Assurance Co. Holdings, Ltd.		BM		5,792		327,769
American Equity Investment Life Holding Co.				23,380		239,411
American Safety Insurance Holdings, Ltd.*		BM		3,228		52,746
AMERISAFE, Inc.*				10,003		187,856
Amtrust Financial Services, Inc.				19,225		279,147
Argo Group International Holdings, Inc.		BM		7,541		261,974
Aspen Insurance Holdings, Ltd.		BM		11,639		352,429
CNA Surety Corp.*				11,015		197,389
CNO Financial Group, Inc.*				52,642		291,637
EMC Insurance Group, Inc.				2,220		47,330
Employers Holdings, Inc.				8,874		139,943
Endurance Specialty Holdings, Ltd.		BM		9,713		386,577
Enstar Group, Ltd.*		BM		2,721		197,545
FBL Financial Group, Inc.				7,614		197,812
First Mercury Financial Corp.				10,431		105,145
Flagstone Reinsurance Holdings SA		LU		17,174		182,216
FPIC Insurance Group, Inc.*				5,998		210,470
Greenlight Capital Re, Ltd., Class A*		KY		10,396		260,108
Hanover Insurance Group, Inc.				21,409		1,006,223
Harleysville Group, Inc.				4,100		134,439
Horace Mann Educators Corp.				13,740		244,297
Infinity Property & Casualty Corp.				6,717		327,588
Maiden Holdings Ltd.		BM		8,460		64,381
Meadowbrook Insurance Group, Inc.				13,600		121,992
Mercer Insurance Group, Inc.				2,724		48,487
Mercury General Corp.				7,550		308,569
Montpelier Re Holdings Ltd.		BM		18,400		318,688
National Financial Partners Corp.*				8,260		104,654

SC OPPENHEIMER MAIN STREET SMALL CAP FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code**		Shares		Value
National Interstate Corp.				1,639	$	35,681
National Western Life Insurance Co.				605		85,111
Navigators Group, Inc.*				2,940		131,212
OneBeacon Insurance Group, Ltd.		BM		10,384		148,387
Platinum Underwriters Holdings, Ltd.		BM		9,434		410,568
PMA Capital Corp.*				970		7,314
Primerica, Inc.				3,240		65,902
ProAssurance Corp.*				6,724		387,235
Protective Life Corp.				12,270		266,995
RLI Corp.				1,470		83,231
Safety Insurance Group, Inc.				8,258		347,001
Selective Insurance Group, Inc.				5,980		97,414
StanCorp Financial Group, Inc.				7,521		285,798
Symetra Financial Corp.				17,550		183,573
Unitrin, Inc.				13,312		324,680
Validus Holdings Ltd.		BM		9,313		245,491
						9,702,415
INTERNET & CATALOG RETAIL – 0.0%+
NutriSystem, Inc.				1,030		19,817
INTERNET SOFTWARE & SERVICES – 1.9%
AOL, Inc.*				12,300		304,425
Earthlink, Inc.				37,319		339,230
j2 Global Communications, Inc.*				48,814		1,161,285
Perficient, Inc.*				5,683		51,943
Saba Software, Inc.*				12,174		66,227
Sohu.com, Inc.*				5,590		322,096
United Online, Inc.				35,748		204,478
Valueclick, Inc.*				29,407		384,643
VistaPrint NV*		NL		13,320		514,818
Web.com Group, Inc.*				3,884		21,362
						3,370,507
IT SERVICES – 3.1%
Acxiom Corp.*				19,003		301,388
Broadridge Financial Solutions, Inc.				17,802		407,132
CACI International, Inc., Class A*				24,984		1,130,776
Cass Information Systems, Inc.				541		18,562
Convergys Corp.*				3,734		39,020
CSG Systems International, Inc.*				16,415		299,245
DST Systems, Inc.				7,247		324,955
Euronet Worldwide, Inc.*				650		11,693
Forrester Research, Inc.*				2,392		79,127
Global Cash Access Holdings, Inc.*				32,251		131,584
Mantech International Corp., Class A*				1,690		66,924
MAXIMUS, Inc.				4,540		279,573
Ness Technologies, Inc.*				17,278		77,751
NeuStar, Inc., Class A*				63,535		1,579,480
Patni Computer Systems, Ltd. ADR		IN		10,978		200,897

	Country Code**		Shares		Value
Satyam Computer Services, Ltd. ADR*		IN		185	$	720
Syntel, Inc.				1,052		46,814
Teletech Holdings, Inc.*				22,108		328,083
TNS, Inc.*				1,827		30,968
Unisys Corp.*				3,864		107,806
						5,462,498
LEISURE EQUIPMENT & PRODUCTS – 0.8%
Jakks Pacific, Inc.*				8,460		149,234
Polaris Industries, Inc.				4,138		269,384
Pool Corp.				41,215		827,185
Sturm Ruger & Co., Inc.				17,009		232,003
						1,477,806
LIFE SCIENCES TOOLS & SERVICES – 0.4%
Bio-Rad Laboratories, Inc.*				190		17,197
Bruker Corp.*				13,560		190,247
Cambrex Corp.*				18,092		76,891
eResearchTechnology, Inc.*				22,255		166,467
Harvard Bioscience, Inc.*				13,092		49,750
ICON PLC ADR*		IE		10,812		233,755
Kendle International, Inc.*				2,536		23,636
						757,943
MACHINERY – 3.2%
Alamo Group, Inc.				2,610		58,281
Altra Holdings, Inc.*				3,988		58,743
American Railcar Industries, Inc.*				4,210		66,013
Blount International, Inc.*				970		12,348
Briggs & Stratton Corp.				8,680		165,007
China Yuchai International Ltd.		BM		6,590		126,067
Crane Co.				2,140		81,192
Duoyuan Global Water, Inc. ADR*		VG		590		7,688
Duoyuan Printing, Inc.*				10,250		29,110
EnPro Industries, Inc.*				21,289		665,920
FreightCar America, Inc.				15,037		369,910
Gardner Denver, Inc.				23,633		1,268,620
Hawk Corp., Class A*				320		13,846
Kaydon Corp.				490		16,954
LB Foster Co.*				270		7,814
NACCO Industries, Inc., Class A				770		67,290
Oshkosh Corp.*				11,336		311,740
Terex Corp.*				20,320		465,734
The Timken Co.				9,204		353,065
Toro Co.				7,435		418,070
Valmont Industries, Inc.				40		2,896
Wabtec Corp.				20,463		977,927
Watts Water Technologies, Inc., Class A				6,460		219,963
						5,764,198
MARINE – 0.3%
Diana Shipping, Inc.*		MH		15,186		192,862
Excel Maritime Carriers Ltd.*		LR		21,610		121,448
Paragon Shipping, Inc., Class A		MH		20,070		79,076

SC OPPENHEIMER MAIN STREET SMALL CAP FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code**		Shares		Value
Safe Bulkers, Inc.		MH		24,119	$	190,782
						584,168
MEDIA – 1.5%
China MediaExpress Holdings, Inc.*				6,590		67,218
Dex One Corp.*				5,090		62,505
Gannett Co., Inc.				23,068		282,122
Harte-Hanks, Inc.				8,238		96,137
Imax Corp.*		CA		60,400		1,018,344
Jon Wiley & Sons, Inc.				1,924		78,615
Journal Communications, Inc., Class A*				11,076		49,953
Lee Enterprises, Inc.*				28,878		77,393
McClatchy Co., Class A*				14,250		56,003
Meredith Corp.				790		26,315
National CineMedia, Inc.				960		17,184
Scholastic Corp.				9,437		262,537
Sinclair Broadcast Group, Inc.*				31,848		223,573
The New York Times Co., Class A*				11,160		86,378
Valassis Communications, Inc.*				9,180		311,110
						2,715,387
METALS & MINING – 0.7%
Compass Minerals International, Inc.				16,013		1,226,916
Redcorp Ventures Ltd.*(1)		CA		91,400		444
						1,227,360
MULTI-LINE RETAIL – 0.4%
Big Lots, Inc.*				10,245		340,646
Dillard’s, Inc.				12,670		299,519
						640,165
MULTI-UTILITIES – 0.5%
Integrys Energy Group, Inc.				5,290		275,397
NorthWestern Corp.				24,544		699,504
						974,901
OFFICE ELECTRONICS – 0.0%+
Zebra Technologies Corp., Class A*				620		20,857
OIL, GAS & CONSUMABLE FUELS – 3.3%
Bill Barrett Corp.*				8,510		306,360
Callon Petroleum Co.*				14,320		70,884
Cloud Peak Energy, Inc.*				16,000		292,000
Contango Oil & Gas Co.*				2,320		116,371
CVR Energy, Inc.*				22,796		188,067
Dominion Resources Black Warrior Trust				3,338		45,397
Gran Tierra Energy, Inc.*				16,920		130,622
Gulfport Energy Corp.*				4,524		62,612
Holly Corp.				68,423		1,967,161
James River Coal Co.*				6,110		107,108
MarkWest Energy Partners LP				27,729		996,026
PAA Natural Gas Storage LP				23,630		570,428
Pengrowth Energy Trust		CA		27,897		308,541
Petrobras Argentina SA ADR		AR		1,120		18,525

	Country Code**		Shares		Value
PetroQuest Energy, Inc.*				16,890	$	102,860
PrimeEnergy Corp.*				1,112		20,350
Stone Energy Corp.*				15,688		231,084
Teekay Offshore Partners LP		MH		6,000		138,840
Teekay Tankers Ltd., Class A		MH		4,527		58,896
Vaalco Energy, Inc.*				14,040		80,590
W&T Offshore, Inc.				10,440		110,664
						5,923,386
PAPER & FOREST PRODUCTS – 0.7%
Buckeye Technologies, Inc.				20,024		294,553
Clearwater Paper Corp.*				3,408		259,281
Domtar Corp.				4,666		301,330
Glatfelter				13,790		167,687
KapStone Paper and Packaging Corp.*				13,194		160,175
						1,183,026
PERSONAL PRODUCTS – 0.4%
China Sky One Medical, Inc.*				3,110		23,636
Herbalife, Ltd.		KY		6,594		397,948
Inter Parfums, Inc.				50		879
Nu Skin Enterprises, Inc., Class A				2,760		79,488
Prestige Brands Holdings, Inc.*				16,986		167,992
						669,943
PHARMACEUTICALS – 2.7%
Endo Pharmaceuticals Holding, Inc.*				11,282		375,014
Hi-Tech Pharmacal Co., Inc.*				4,000		80,960
Impax Laboratories, Inc.*				14,770		292,446
Indevus Pharmaceuticals, Inc.*				600		—
King Pharmaceuticals, Inc.*				19,421		193,433
Medicis Pharmaceutical Corp., Class A				11,216		332,554
Par Pharmaceutical Cos., Inc.*				8,392		244,039
Perrigo Co.				14,794		950,071
Questcor Pharmaceuticals, Inc.*				40,906		405,788
Salix Pharmaceuticals Ltd.*				33,220		1,319,498
Valeant Pharmaceuticals International, Inc.		CA		13,192		330,460
Viropharma, Inc.*				14,920		222,457
						4,746,720
PROFESSIONAL SERVICES – 0.7%
CBIZ, Inc.*				2,690		15,952
Dolan Co.*				8,590		97,668
GP Strategies Corp.*				6,466		58,776
Korn / Ferry International*				18,750		310,125
Robert Half International, Inc.				27,500		715,000
						1,197,521
REAL ESTATE INVESTMENT TRUSTS – 6.1%
Associated Estates Realty Corp.				13,834		193,399
Brandywine Reality Trust				55,930		685,143
BRE Properties, Inc.				7,320		303,780
CBL & Associates Properties, Inc.				22,004		287,372
Chatham Lodging Trust*				12,300		228,903

SC OPPENHEIMER MAIN STREET SMALL CAP FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code**		Shares		Value
Colonial Properties Trust				1,060	$	17,161
Digital Realty Trust, Inc.				20,940		1,291,998
Education Realty Trust, Inc.				5,720		40,898
Essex Property Trust, Inc.				2,850		311,904
Extra Space Storage, Inc.				14,650		234,986
Government Properties Income Trust				2,400		64,080
Hatteras Financial Corp.				40,084		1,141,192
Home Properties, Inc.				5,900		312,110
Hospitality Properties Trust				4,870		108,747
LaSalle Hotel Properties				46,578		1,089,459
Mid-America Apartment Communities, Inc.				25,358		1,477,864
Pebblebrook Hotel Trust*				6,390		115,084
PS Business Parks, Inc.				5,120		289,638
Saul Centers, Inc.				40		1,678
Starwood Property Trust, Inc.				24,452		485,861
Strategic Hotels & Resorts, Inc.*				111,050		470,852
Tanger Factory Outlet Centers, Inc.				28,126		1,325,860
Taubman Centers, Inc.				6,810		303,794
U-Store-It Trust				13,370		111,640
						10,893,403
REAL ESTATE MANAGEMENT & DEVELOPMENT – 0.1%
Altisource Portfolio Solutions SA*		LU		7,870		245,072
ROAD & RAIL – 1.5%
Amerco*				2,330		185,188
Avis Budget Group, Inc.*				1,729		20,143
Genesee & Wyoming, Inc., Class A*				13,160		571,013
Old Dominion Freight Line, Inc.*				71,436		1,815,903
						2,592,247
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT – 5.5%
Amkor Technology, Inc.*				42,490		279,159
ASM International NV*		NL		1,040		26,458
Atheros Communications, Inc.*				49,175		1,295,761
Cabot Microelectronics Corp.*				5,200		167,336
China Sunergy Co., Ltd. ADR*		KY		38,310		172,778
Fairchild Semiconductor International, Inc.*				33,830		318,002
GT Solar International, Inc.*				39,827		333,352
Himax Technologies, Inc. ADR		KY		42,144		104,517
Integrated Device Technology, Inc.*				14,520		84,942
JA Solar Holdings Co., Ltd. ADR*		KY		26,900		250,977
Kulicke & Soffa Industries, Inc.*				15,440		95,574
Lattice Semiconductor Corp.*				40,100		190,475
Micrel, Inc.				22,557		222,412
Microsemi Corp.*				5,020		86,093
Netlogic Microsystems, Inc.*				49,806		1,373,649
O2Micro International Ltd. ADR*		KY		2,360		14,420

	Country Code**		Shares		Value
PMC-Sierra, Inc.*				29,850	$	219,696
RF Micro Devices, Inc.*				55,280		339,419
Semtech Corp.*				57,959		1,170,192
Silicon Motion Technology Corp. ADR*		KY		7,792		42,778
Skyworks Solutions, Inc.*				52,634		1,088,471
Solarfun Power Holdings Co., Ltd. ADR*		KY		17,630		231,835
Standard Microsystems Corp.*				790		18,020
Teradyne, Inc.*				28,990		322,949
Tessera Technologies, Inc.*				9,100		168,350
Varian Semiconductor Equipment Associates, Inc.*				31,190		897,648
Veeco Instruments, Inc.*				8,370		291,862
						9,807,125
SOFTWARE – 4.5%
Actuate Corp.*				26,112		134,477
Blackboard, Inc.*				27,520		991,821
Changyou.com Ltd. ADR*		KY		5,932		163,130
Compuware Corp.*				37,473		319,645
Concur Technologies, Inc.*				14,121		698,142
FactSet Research Systems, Inc.				17,169		1,392,921
Fair Issac Corp.				16,483		406,471
Giant Interactive Group, Inc. ADR		KY		15,651		100,479
Lawson Software, Inc.*				13,870		117,479
Manhattan Associates, Inc.*				12,993		381,344
Microstrategy, Inc.*				4,446		385,068
Monotype Imaging Holdings, Inc.*				6,032		55,193
Net 1 UEPS Technologies, Inc.*				20,905		241,662
Netscout Systems, Inc.*				2,620		53,736
Perfect World Co. Ltd. ADR*		KY		8,665		222,344
Pervasive Software, Inc.*				8,826		43,600
Quest Software, Inc.*				16,991		417,809
Shanda Games Ltd. ADR*		KY		26,710		143,166
TIBCO Software, Inc.*				95,013		1,685,531
Virnetx Holding Corp.				2,340		34,351
Websense, Inc.*				4,615		81,870
						8,070,239
SPECIALTY RETAIL – 3.9%
Aeropostale, Inc.*				12,567		292,183
AnnTaylor Stores Corp.*				9,400		190,256
Books-A-Million, Inc.				4,884		29,304
Cabela’s, Inc.*				7,642		145,045
Childrens Place Retail Stores, Inc.*				33,699		1,643,500
Collective Brands, Inc.*				5,390		86,995
DSW, Inc.*				10,140		291,018
Finish Line, Inc., Class A				20,134		280,064
Gymboree Corp.*				7,835		325,466
Jo-Ann Stores, Inc.*				7,776		346,421
JOS A Bank Clothiers, Inc.*				5,943		253,231
Kirkland’s, Inc.*				19,767		273,971
Rental-A-Center, Inc.				18,409		411,993
Select Comfort Corp.*				12,650		85,767
Signet Jewelers, Ltd.*		BM		10,061		319,336

SC OPPENHEIMER MAIN STREET SMALL CAP FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code**		Shares		Value
Stage Stores, Inc.				17,665	$	229,645
The Cato Corp.				16,748		448,176
The Men’s Wearhouse, Inc.				1,090		25,931
Tractor Supply Co.				33,566		1,331,228
						7,009,530
TEXTILES, APPAREL & LUXURY GOODS – 2.4%
Deckers Outdoor Corp.*				5,898		294,664
Fossil, Inc.*				15,828		851,388
Jones Apparel Group, Inc.				11,110		218,200
Oxford Industries, Inc.				700		16,646
Perry Ellis International, Inc.*				7,556		165,099
Phillips-Van Heusen Corp.				34,109		2,051,997
Timberland Co., Class A*				16,955		335,879
True Religion Apparel, Inc.*				1,770		37,772
Warnaco Group, Inc.*				6,640		339,503
						4,311,148
THRIFT & MORTGAGE FINANCE – 1.5%
BofI Holding, Inc.*				3,110		36,916
Federal Agricultural Mortgage Corp.				4,700		50,854
First Defiance Financial Corp.				6,103		61,518
First Niagara Financial Group, Inc.				38,002		442,723
MGIC Investment Corp.*				109,710		1,012,623
Northwest Bancshares, Inc.				40,980		458,566
Radian Group, Inc.				72,530		567,185
						2,630,385
TOBACCO – 0.0%+
Alliance One International, Inc.*				12,448		51,659
TRADING COMPANIES & DISTRIBUTORS – 0.3%
Aircastle Ltd.		BM		11,138		94,450
Applied Industrial Technologies, Inc.				9,640		294,984
DXP Enterprises, Inc.*				3,152		59,825
Fly Leasing Ltd. ADR		BM		3,990		52,668
Interline Brands, Inc.*				3,974		71,691
TAL International Group, Inc.				1,270		30,760
						604,378
WATER UTILITIES – 0.5%
Aqua America, Inc.				40,876		833,870
WIRELESS TELECOMMUNICATION SERVICES – 0.4%
Cellcom Israel, Ltd.		IL		8,790		266,952
NTELOS Holdings Corp.				7,870		133,161
USA Mobility, Inc.				18,459		295,898
						696,011
Total Common Stocks (Cost $150,326,093)						177,150,097
SHORT TERM INVESTMENTS – 0.8%
MUTUAL FUNDS – 0.8%
State Street Institutional Treasury Plus Money Market Fund (Cost $1,463,606)				1,463,606		1,463,606

	Value
TOTAL INVESTMENTS – 100.4% (Cost $151,789,699)	$	178,613,703
Liabilities in excess of other assets – (0.4)%		(640,826	)
NET ASSETS – 100.0%	$	177,972,877

ADR American Depositary Receipt

AN Netherlands Antilles

AR Argentina

BM Bermuda

BR Brazil

CA Canada

FR France

IE Ireland

IL Israel

IN India

KY Cayman Islands

LR Liberia

LU Luxembourg

MH Marshall Islands

NL Netherlands

NZ New Zealand

PA Panama

PR Puerto Rico

VG British Virgin Islands

* Non-income producing security.

** Unless otherwise noted the issuer country code for all securities is United States.

+ Amount is less than 0.05%.

(1) Eligible for resale under rule 144A of the Securities Act of 1933. This security may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the period end, the value of this security amounted to $444, representing less than 0.05% of net assets.

SC OPPENHEIMER MAIN STREET SMALL CAP FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

(2) Fair Value Measurements

All investments are categorized as Level 1 under the fair value hierarchy. See Note 2b in the Notes to Portfolios of Investments for additional information.

SC OPPENHEIMER LARGE CAP CORE FUND

PORTFOLIO OF INVESTMENTS

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Shares		Value
COMMON STOCKS – 99.3%
AEROSPACE & DEFENSE – 4.6%
L-3 Communications Holdings, Inc.		17,300	$	1,250,271
Lockheed Martin Corp.		22,800		1,625,184
Northrop Grumman Corp.		26,800		1,624,884
Raytheon Co.		24,400		1,115,324
The Boeing Co.		7,300		485,742
				6,101,405
AIRLINES – 1.3%
Southwest Airlines Co.		136,400		1,782,748
AUTO COMPONENTS – 0.7%
Johnson Controls, Inc.		29,500		899,750
AUTOMOBILES – 0.7%
Ford Motor Co.*		38,500		471,240
Harley-Davidson, Inc.		15,400		437,976
				909,216
BEVERAGES – 0.5%
PepsiCo, Inc.		9,600		637,824
BIOTECHNOLOGY – 0.8%
Cephalon, Inc.*		17,100		1,067,724
CAPITAL MARKETS – 1.3%
Bank of New York Mellon Corp.		66,400		1,735,032
CHEMICALS – 0.5%
The Sherwin-Williams Co.		8,300		623,662
COMMERCIAL BANKS – 5.3%
BB&T Corp.		63,500		1,529,080
PNC Financial Services Group, Inc.		18,300		949,953
U.S. Bancorp		70,900		1,532,858
Wells Fargo & Co.		124,500		3,128,685
				7,140,576
COMMERCIAL SERVICES & SUPPLIES – 0.5%
R.R. Donnelley & Sons Co.		41,400		702,144
COMMUNICATIONS EQUIPMENT – 1.5%
Motorola, Inc.*		236,000		2,013,080
COMPUTERS & PERIPHERALS – 5.5%
Apple, Inc.*		14,200		4,029,250
Hewlett-Packard Co.		74,900		3,151,043
SanDisk Corp.*		3,900		142,935
				7,323,228
CONTAINERS & PACKAGING – 0.2%
Sealed Air Corp.		14,900		334,952
DIVERSIFIED FINANCIAL SERVICES – 2.8%
Bank of America Corp.		64,700		848,217
JP Morgan Chase & Co.		76,900		2,927,583
				3,775,800

	Shares		Value
DIVERSIFIED TELECOMMUNICATION SERVICES – 2.6%
Verizon Communications, Inc.		108,600	$	3,539,274
ENERGY EQUIPMENT & SERVICES – 0.7%
National-Oilwell Varco, Inc.		20,400		907,188
FOOD & STAPLES RETAILING – 6.9%
CVS Caremark Corp.		55,200		1,737,144
Kroger Co.		19,200		415,872
Safeway, Inc.		61,200		1,294,992
Wal-Mart Stores, Inc.		71,300		3,815,976
Walgreen Co.		57,500		1,926,250
				9,190,234
FOOD PRODUCTS – 3.7%
ConAgra Foods, Inc.		6,700		146,998
H.J. Heinz Co.		8,500		402,645
Kellogg Co.		6,900		348,519
Sara Lee Corp.		47,300		635,239
The Hershey Co.		32,600		1,551,434
Tyson Foods, Inc., Class A		120,000		1,922,400
				5,007,235
GAS UTILITIES – 0.7%
ONEOK, Inc.		22,100		995,384
HEALTH CARE EQUIPMENT & SUPPLIES – 0.1%
Medtronic, Inc.		5,700		191,406
HEALTH CARE PROVIDERS & SERVICES – 11.2%
Aetna, Inc.		57,600		1,820,736
AmerisourceBergen Corp.		45,300		1,388,898
Cardinal Health, Inc.		42,900		1,417,416
CIGNA Corp.		7,800		279,084
Express Scripts, Inc.*		8,400		409,080
Humana, Inc.*		23,600		1,185,664
McKesson Corp.		25,700		1,587,746
Medco Health Solutions, Inc.*		46,900		2,441,614
UnitedHealth Group, Inc.		63,600		2,232,996
WellPoint, Inc.*		39,600		2,242,944
				15,006,178
HOTELS, RESTAURANTS & LEISURE – 1.0%
Starbucks Corp.		54,100		1,383,878
HOUSEHOLD DURABLES – 0.6%
Whirlpool Corp.		9,600		777,216
HOUSEHOLD PRODUCTS – 3.7%
Colgate-Palmolive Co.		5,700		438,102
The Procter & Gamble Co.		76,500		4,587,705
				5,025,807
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS – 0.2%
NRG Energy, Inc.*		11,600		241,512
INDUSTRIAL CONGLOMERATES – 0.7%
3m Co.		10,500		910,455
INSURANCE – 1.0%
Genworth Financial Inc., Class A*		107,300		1,311,206

SC OPPENHEIMER LARGE CAP CORE FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Shares		Value
INTERNET SOFTWARE & SERVICES – 1.3%
Google, Inc., Class A*		3,200	$	1,682,528
IT SERVICES – 2.5%
Computer Sciences Corp.		13,000		598,000
International Business Machines Corp.		20,600		2,763,284
				3,361,284
MACHINERY – 0.9%
Cummins, Inc.		13,500		1,222,830
MEDIA – 4.7%
Comcast Corp., Class A		107,700		1,947,216
The Interpublic Group of Cos., Inc.*		200,100		2,007,003
Time Warner Cable, Inc.		8,900		480,511
Time Warner, Inc.		60,600		1,857,390
				6,292,120
METALS & MINING – 2.3%
Cliffs Natural Resources, Inc.		38,700		2,473,704
Titanium Metals Corp.*		27,800		554,888
				3,028,592
MULTI-UTILITIES – 0.6%
NiSource, Inc.		44,900		781,260
OIL, GAS & CONSUMABLE FUELS – 10.9%
Chevron Corp.		33,800		2,739,490
ConocoPhillips		35,300		2,027,279
Exxon Mobil Corp.		58,200		3,596,178
Marathon Oil Corp.		53,000		1,754,300
Peabody Energy Corp.		28,100		1,377,181
The Williams Cos., Inc.		76,800		1,467,648
Valero Energy Corp.		94,400		1,652,944
				14,615,020
PAPER & FOREST PRODUCTS – 2.5%
International Paper Co.		99,900		2,172,825
MeadWestvaco Corp.		50,600		1,233,628
				3,406,453
PHARMACEUTICALS – 2.4%
Bristol-Myers Squibb Co.		55,200		1,496,472
Johnson & Johnson		12,200		755,912
Pfizer, Inc.		55,100		946,067
				3,198,451
ROAD & RAIL – 1.3%
Union Pacific Corp.		21,000		1,717,800
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT – 0.8%
Advanced Micro Devices, Inc.*		73,200		520,452
Broadcom Corp., Class A		17,100		605,169
				1,125,621
SOFTWARE – 2.5%
Microsoft Corp.		137,100		3,357,579
SPECIALTY RETAIL – 4.0%
Best Buy Co., Inc.		15,600		636,948

	Shares		Value
Limited Brands, Inc.		36,700	$	982,826
Ross Stores, Inc.		22,200		1,212,564
The Gap, Inc.		61,100		1,138,904
TJX Cos., Inc.		32,700		1,459,401
				5,430,643
THRIFT & MORTGAGE FINANCE – 0.8%
Hudson City Bancorp, Inc.		84,600		1,037,196
TOBACCO – 1.5%
Philip Morris International, Inc.		6,800		380,936
Reynolds American, Inc.		27,300		1,621,347
				2,002,283
WIRELESS TELECOMMUNICATION SERVICES – 1.0%
Sprint Nextel Corp.*		302,300		1,399,649
Total Common Stocks (Cost $127,025,005)				133,193,423
SHORT TERM INVESTMENTS – 0.6%
MUTUAL FUNDS – 0.6%
State Street Institutional Treasury Plus Money Market Fund (Cost $759,188)		759,188		759,188
TOTAL INVESTMENTS – 99.9% (Cost $127,784,193)				133,952,611
Other assets less liabilities – 0.1%				138,052
NET ASSETS – 100.0%			$	134,090,663

* Non-income producing security.

SC OPPENHEIMER LARGE CAP CORE FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

(1) Fair Value Measurements

All investments are categorized as Level 1 under the fair value hierarchy. See Note 2b in the Notes to Portfolios of Investments for additional information.

SC WMC LARGE CAP GROWTH FUND

PORTFOLIO OF INVESTMENTS

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code**		Shares		Value
COMMON STOCKS – 99.3%
AEROSPACE & DEFENSE – 2.2%
Honeywell International, Inc.				57,971	$	2,547,245
The Boeing Co.				29,731		1,978,301
						4,525,546
AIR FREIGHT & LOGISTICS – 0.9%
C.H. Robinson Worldwide, Inc.				28,097		1,964,542
AIRLINES – 0.9%
Southwest Airlines Co.				137,822		1,801,333
AUTOMOBILES – 0.9%
Ford Motor Co.*				149,369		1,828,277
BEVERAGES – 0.8%
Anheuser-Busch InBev NV ADR		BE		30,058		1,765,907
BIOTECHNOLOGY – 0.1%
Amylin Pharmaceuticals, Inc.*				9,856		205,498
CAPITAL MARKETS – 1.6%
Morgan Stanley				30,949		763,821
The Goldman Sachs Group, Inc.				18,490		2,673,284
						3,437,105
COMMERCIAL BANKS – 0.8%
Wells Fargo & Co.				70,105		1,761,739
COMMUNICATIONS EQUIPMENT – 8.1%
Cisco Systems, Inc.*				455,847		9,983,049
Emulex Corp.*				170,733		1,782,452
Juniper Networks, Inc.*				104,288		3,165,141
Riverbed Technology, Inc.*				41,113		1,873,931
						16,804,573
COMPUTERS & PERIPHERALS – 13.9%
Apple, Inc.*				32,501		9,222,159
Dell, Inc.*				181,876		2,357,113
EMC Corp.*				325,759		6,616,165
NetApp, Inc.*				129,103		6,428,038
QLogic Corp.*				193,417		3,411,876
SanDisk Corp.*				25,521		935,345
						28,970,696
CONSUMER FINANCE – 1.0%
American Express Co.				48,156		2,023,997
DIVERSIFIED CONSUMER SERVICES – 0.8%
ITT Educational Services, Inc.*				23,489		1,650,572
ELECTRICAL EQUIPMENT – 0.9%
Emerson Electric Co.				37,277		1,963,007
ENERGY EQUIPMENT & SERVICES – 0.8%
Baker Hughes, Inc.				14,841		632,227
Oceaneering International, Inc.*				17,614		948,690
						1,580,917

	Country Code**		Shares		Value
FOOD PRODUCTS – 0.8%
General Mills, Inc.				43,992	$	1,607,468
HEALTH CARE EQUIPMENT & SUPPLIES – 2.6%
Hologic, Inc.*				58,426		935,400
Intuitive Surgical, Inc.*				2,273		644,941
Medtronic, Inc.				87,002		2,921,527
Stryker Corp.				16,529		827,277
						5,329,145
HEALTH CARE PROVIDERS & SERVICES – 2.4%
Laboratory Corp. of America Holdings*				25,974		2,037,141
UnitedHealth Group, Inc.				57,257		2,010,293
WellPoint, Inc.*				18,040		1,021,786
						5,069,220
HOTELS, RESTAURANTS & LEISURE – 2.1%
Carnival Corp.		PA		26,414		1,009,279
Las Vegas Sands Corp.*				54,188		1,888,452
Starbucks Corp.				60,635		1,551,043
						4,448,774
HOUSEHOLD PRODUCTS – 0.7%
Clorox Co.				16,699		1,114,825
The Procter & Gamble Co.				5,698		341,709
						1,456,534
INDUSTRIAL CONGLOMERATES – 1.8%
General Electric Co.				232,394		3,776,402
INSURANCE – 1.3%
Lincoln National Corp.				110,442		2,641,773
INTERNET & CATALOG RETAIL – 2.5%
Amazon.com, Inc.*				12,885		2,023,718
Expedia, Inc.				73,406		2,070,784
Priceline.com, Inc.*				3,036		1,057,560
						5,152,062
INTERNET SOFTWARE & SERVICES – 2.8%
eBay, Inc.*				15,010		366,244
Google, Inc., Class A*				10,231		5,379,357
						5,745,601
IT SERVICES – 4.7%
International Business Machines Corp.				72,498		9,724,882
LIFE SCIENCES TOOLS & SERVICES – 1.1%
Waters Corp.*				32,000		2,264,960
MACHINERY – 8.9%
Caterpillar, Inc.				79,884		6,285,273
Cummins, Inc.				18,643		1,688,683
Dover Corp.				40,906		2,135,702
Illinois Tool Works, Inc.				35,160		1,653,223
Ingersoll-Rand PLC		IE		40,115		1,432,507
Joy Global, Inc.				33,070		2,325,483
Parker Hannifin Corp.				40,902		2,865,594
						18,386,465

SC WMC LARGE CAP GROWTH FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code**		Shares		Value
MEDIA – 1.9%
News Corp., Class A				96,650	$	1,262,249
Omnicom Group, Inc.				66,580		2,628,578
						3,890,827
METALS & MINING – 1.9%
Cliffs Natural Resources, Inc.				10,556		674,740
Nucor Corp.				52,560		2,007,792
Teck Resources, Ltd., Class B		CA		28,771		1,184,214
						3,866,746
OIL, GAS & CONSUMABLE FUELS – 3.4%
Anadarko Petroleum Corp.				26,685		1,522,379
Exxon Mobil Corp.				25,534		1,577,746
Occidental Petroleum Corp.				21,803		1,707,175
Valero Energy Corp.				126,703		2,218,569
						7,025,869
PHARMACEUTICALS – 0.4%
Eli Lilly & Co.				24,902		909,670
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT – 9.8%
Altera Corp.				192,688		5,811,470
Analog Devices, Inc.				80,979		2,541,121
Atheros Communications, Inc.*				18,656		491,586
Broadcom Corp., Class A				60,461		2,139,715
Intel Corp.				125,985		2,422,692
Intersil Corp.				198,918		2,325,351
Texas Instruments, Inc.				4,637		125,848
Xilinx, Inc.				166,153		4,421,331
						20,279,114
SOFTWARE – 11.8%
Adobe Systems, Inc.*				49,716		1,300,074
Autodesk, Inc.*				23,992		767,024
BMC Software, Inc.*				32,140		1,301,027
Check Point Software Technologies Ltd.*		IL		57,125		2,109,626
Citrix Systems, Inc.*				14,818		1,011,180
Longtop Financial Technologies, Ltd. ADR*		KY		18,221		716,996
Microsoft Corp.				297,116		7,276,371
Oracle Corp.				241,050		6,472,193
Red Hat, Inc.*				43,052		1,765,132
VMware, Inc., Class A*				21,804		1,852,032
						24,571,655
SPECIALTY RETAIL – 3.9%
Advanced Auto Parts, Inc.				32,153		1,886,738
Guess?, Inc.				15,889		645,570
Ross Stores, Inc.				33,916		1,852,492
The Buckle, Inc.				19,563		519,202
The Home Depot, Inc.				51,652		1,636,335
TJX Cos., Inc.				34,827		1,554,329
						8,094,666
TEXTILES, APPAREL & LUXURY GOODS – 0.8%
Coach, Inc.				38,175		1,639,999
Total Common Stocks (Cost $184,453,039)						206,165,541

	Principal Amount (000)		Value
SHORT TERM INVESTMENTS – 0.7%
REPURCHASE AGREEMENTS – 0.7%
State Street Bank and Trust Company, 0.01%, dated 9/30/10, due 10/1/10 (collateralized by $1,340,000 U.S. Treasury Note, 2.125%, 5/31/15, with a value of $1,406,598, total to be received $1,374,926) (Amortized cost $1,374,926)	$	1,375	$	1,374,926
TOTAL INVESTMENTS – 100.0%
(Cost $185,827,965)				207,540,467
Other assets less liabilities – 0.0%+				81,833
NET ASSETS – 100.0%			$	207,622,300

ADR American Depositary Receipt

BE Belgium

CA Canada

IE Ireland

IL Israel

KY Cayman Islands

PA Panama

+ Amount is less than 0.05%.

* Non-income producing security.

** Unless otherwise noted the issuer country code for all securities is United States.

SC WMC LARGE CAP GROWTH FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

(1) Fair Value Measurements †

The following table summarizes the inputs used to value the Fund’s assets and liabilities, as applicable, measured at fair value at the period end:

Assets	Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Common Stocks (a)	$	206,165,541	$	—	$	—	$	206,165,541
Short Term Investments
Repurchase Agreements		—		1,374,926		—		1,374,926
Total Investments	$	206,165,541	$	1,374,926	$	—	$	207,540,467

† See Note 2b in the Notes to Portfolios of Investments for additional information.

(a) See Portfolio of Investments for additional detailed categorizations.

SC WMC BLUE CHIP MID CAP FUND

PORTFOLIO OF INVESTMENTS

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code**	Shares		Value
COMMON STOCKS – 96.8%
AEROSPACE & DEFENSE – 1.4%
BE Aerospace, Inc.*			13,400	$	406,154
Rockwell Collins, Inc.			30,890		1,799,343
					2,205,497
AIR FREIGHT & LOGISTICS – 2.0%
C.H. Robinson Worldwide, Inc.			16,200		1,132,704
Expeditors International of Washington, Inc.			42,900		1,983,267
					3,115,971
AIRLINES – 1.9%
Southwest Airlines Co.			222,200		2,904,154
AUTOMOBILES – 1.4%
Harley-Davidson, Inc.			73,000		2,076,120
BIOTECHNOLOGY – 2.0%
Amylin Pharmaceuticals, Inc.*			84,120		1,753,902
Regeneron Pharmaceuticals, Inc.*			21,700		594,580
Vertex Pharmaceuticals, Inc.*			18,400		636,088
					2,984,570
BUILDING PRODUCTS – 1.5%
Lennox International, Inc.			55,800		2,326,302
CAPITAL MARKETS – 3.2%
SEI Investments Co.			108,300		2,202,822
Stifel Financial Corp.*			25,100		1,161,879
T Rowe Price Group, Inc.			9,350		468,108
Waddell & Reed Financial, Inc., Class A			40,800		1,116,288
					4,949,097
CHEMICALS – 3.5%
CF Industries Holdings, Inc.			15,300		1,461,150
FMC Corp.			18,260		1,249,167
Scotts Miracle-Gro Co., Class A			30,000		1,551,900
The Sherwin-Williams Co.			14,130		1,061,728
					5,323,945
COMMERCIAL BANKS – 3.7%
Huntington Bancshares, Inc.			226,700		1,285,389
M&T Bank Corp.			25,800		2,110,698
Synovus Financial Corp.			258,100		634,926
TCF Financial Corp.			96,500		1,562,335
					5,593,348
COMMERCIAL SERVICES & SUPPLIES – 1.1%
Herman Miller, Inc.			6,900		135,792
HNI Corp.			35,100		1,009,476
Republic Services, Inc.			18,195		554,766
					1,700,034
COMMUNICATIONS EQUIPMENT – 1.5%
ADTRAN, Inc.			3,200		112,960
Polycom, Inc.*			47,500		1,295,800

	Country Code**		Shares		Value
Riverbed Technology, Inc.*				20,850	$	950,343
						2,359,103
COMPUTERS & PERIPHERALS – 1.8%
NetApp, Inc.*				53,800		2,678,702
CONSTRUCTION & ENGINEERING – 0.8%
Jacobs Engineering Group, Inc.*				31,400		1,215,180
DIVERSIFIED CONSUMER SERVICES – 1.3%
DeVry, Inc.				9,800		482,258
ITT Educational Services, Inc.*				9,000		632,430
Strayer Education, Inc.				4,700		820,150
						1,934,838
DIVERSIFIED FINANCIAL SERVICES – 0.7%
IntercontinentalExchange, Inc.*				10,300		1,078,616
ELECTRIC UTILITIES – 1.4%
Northeast Utilities				72,500		2,143,825
ELECTRICAL EQUIPMENT – 0.8%
Ametek, Inc.				24,000		1,146,480
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS – 0.5%
National Instruments Corp.				22,900		747,914
ENERGY EQUIPMENT & SERVICES – 0.5%
ENSCO International PLC ADR		GB		18,500		827,505
FOOD PRODUCTS – 1.0%
Dean Foods Co.*				38,900		397,169
Flowers Foods, Inc.				7,700		191,268
Smithfield Foods, Inc.*				52,900		890,307
						1,478,744
GAS UTILITIES – 1.4%
UGI Corp.				73,000		2,088,530
HEALTH CARE EQUIPMENT & SUPPLIES – 2.9%
Beckman Coulter, Inc.				44,500		2,171,155
Edwards Lifesciences Corp.*				15,800		1,059,390
ResMed, Inc.*				38,300		1,256,623
						4,487,168
HEALTH CARE PROVIDERS & SERVICES – 3.5%
Lincare Holdings, Inc.				84,750		2,126,377
Patterson Cos., Inc.				58,400		1,673,160
Universal Health Services, Inc., Class B				37,700		1,465,022
						5,264,559
HOTELS, RESTAURANTS & LEISURE – 0.2%
The Cheesecake Factory, Inc.*				13,600		359,992
HOUSEHOLD DURABLES – 1.2%
NVR, Inc.*				2,716		1,758,691
INDUSTRIAL CONGLOMERATES – 1.0%
Carlisle Cos., Inc.				48,800		1,461,560

SC WMC BLUE CHIP MID CAP FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code**		Shares		Value
INSURANCE – 4.1%
Brown & Brown, Inc.				83,200	$	1,679,808
Genworth Financial Inc., Class A*				113,300		1,384,526
Unum Group				87,020		1,927,493
W.R. Berkley Corp.				48,071		1,301,282
						6,293,109
INTERNET & CATALOG RETAIL – 0.3%
Netflix, Inc.*				2,900		470,264
INTERNET SOFTWARE & SERVICES – 2.6%
Equinix, Inc.*				6,540		669,369
GSI Commerce, Inc.*				28,100		694,070
VeriSign, Inc.*				83,400		2,647,116
						4,010,555
IT SERVICES – 3.9%
Gartner, Inc.*				44,200		1,301,248
Genpact, Ltd.*		BM		85,500		1,515,915
Global Payments, Inc.				12,700		544,703
Teradata Corp.*				22,200		856,032
The Western Union Co.				94,800		1,675,116
						5,893,014
LEISURE EQUIPMENT & PRODUCTS – 0.7%
Hasbro, Inc.				25,100		1,117,201
LIFE SCIENCES TOOLS & SERVICES – 0.7%
Qiagen NV*		NL		60,410		1,071,673
MACHINERY – 5.2%
IDEX Corp.				49,700		1,764,847
Ingersoll-Rand PLC		IE		41,900		1,496,249
Joy Global, Inc.				26,000		1,828,320
PACCAR, Inc.				60,000		2,889,000
						7,978,416
MEDIA – 2.8%
Discovery Communications, Inc., Class A*				58,650		2,554,207
DreamWorks Animation SKG, Inc., Class A*				51,900		1,656,129
						4,210,336
METALS & MINING – 0.5%
Steel Dynamics, Inc.				53,400		753,474
MULTI-UTILITIES – 1.1%
Wisconsin Energy Corp.				28,900		1,670,420
OIL, GAS & CONSUMABLE FUELS – 6.1%
Cobalt International Energy, Inc.*				54,100		516,655
Consol Energy, Inc.				45,600		1,685,376
Denbury Resources, Inc.*				42,300		672,147
El Paso Corp.				63,600		787,368
Frontier Oil Corp.				46,100		617,740
Holly Corp.				21,400		615,250
Noble Energy, Inc.				13,300		998,697
Overseas Shipholding Group, Inc.				28,500		978,120

	Country Code**		Shares		Value
Peabody Energy Corp.				23,200	$	1,137,032
SM Energy Co.				11,300		423,298
Ultra Petroleum Corp.*		CA		22,500		944,550
						9,376,233
PERSONAL PRODUCTS – 0.4%
The Estee Lauder Cos., Inc. Class A				9,600		607,008
PHARMACEUTICALS – 3.5%
King Pharmaceuticals, Inc.*				129,600		1,290,816
Mylan, Inc.*				80,600		1,516,086
Watson Pharmaceuticals, Inc.*				58,200		2,462,442
						5,269,344
PROFESSIONAL SERVICES – 1.8%
Manpower, Inc.				27,600		1,440,720
Robert Half International, Inc.				50,850		1,322,100
						2,762,820
REAL ESTATE INVESTMENT TRUSTS – 2.2%
Alexandria Real Estate Equities, Inc.				19,000		1,330,000
AMB Property Corp.				29,000		767,630
Host Hotels & Resorts, Inc.				25,629		371,108
Public Storage				9,900		960,696
						3,429,434
ROAD & RAIL – 1.8%
Con-Way, Inc.				21,750		674,033
JB Hunt Transport Services, Inc.				35,600		1,235,320
Kansas City Southern*				21,000		785,610
						2,694,963
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT – 3.5%
Altera Corp.				40,500		1,221,480
Analog Devices, Inc.				29,200		916,296
Lam Research Corp.*				30,700		1,284,795
Maxim Integrated Products, Inc.				52,700		975,477
Xilinx, Inc.				32,400		862,164
						5,260,212
SOFTWARE – 6.1%
BMC Software, Inc.*				17,900		724,592
Check Point Software Technologies Ltd.*		IL		49,500		1,828,035
Citrix Systems, Inc.*				24,400		1,665,056
FactSet Research Systems, Inc.				14,800		1,200,724
MICROS Systems, Inc.*				38,400		1,625,472
Red Hat, Inc.*				30,900		1,266,900
Salesforce.com, Inc.*				8,500		950,300
						9,261,079
SPECIALTY RETAIL – 4.6%
Advanced Auto Parts, Inc.				17,200		1,009,296
AutoZone, Inc.*				3,700		846,967
O’Reilly Automotive, Inc.*				20,700		1,101,240
Office Depot, Inc.*				120,900		556,140

SC WMC BLUE CHIP MID CAP FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code**	Shares		Value
Penske Automotive Group, Inc.*			85,980	$	1,134,936
Staples, Inc.			91,700		1,918,364
Urban Outfitters, Inc.*			13,300		418,152
					6,985,095
THRIFT & MORTGAGE FINANCE – 0.8%
MGIC Investment Corp.*			55,880		515,772
People’s United Financial, Inc.			54,000		706,860
					1,222,632
WATER UTILITIES – 0.6%
Aqua America, Inc.			47,500		969,000
WIRELESS TELECOMMUNICATION SERVICES – 1.3%
American Tower Corp. Class A*			39,900		2,045,274
Total Common Stocks (Cost $127,221,438)					147,562,001

	Principal Amount (000)
SHORT TERM INVESTMENTS – 3.2%
REPURCHASE AGREEMENTS – 3.2%
State Street Bank and Trust Company, 0.01%, dated 9/30/10, due 10/1/10 (collateralized by $4,750,000 U.S. Treasury Note, 2.125%, 5/31/15, with a value of $4,986,075, total to be received $4,884,737) (Amortized cost $4,884,736)	$	4,885		4,884,736
TOTAL INVESTMENTS – 100.0%
(Cost $132,106,174)				152,446,737
Other assets less liabilities – 0.0%+				5,953
NET ASSETS – 100.0%			$	152,452,690

ADR American Depositary Receipt

BM Bermuda

CA Canada

GB Great Britain

IE Ireland

IL Israel

NL Netherlands

+ Amount is less than 0.05%.

* Non-income producing security.

** Unless otherwise noted the issuer country code for all securities is United States.

SC WMC BLUE CHIP MID CAP FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

(1) Fair Value Measurements †

The following table summarizes the inputs used to value the Fund’s assets and liabilities, as applicable, measured at fair value at the period end:

Assets	Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Common Stocks (a)	$	147,562,001	$	—	$	—	$	147,562,001
Short Term Investments
Repurchase Agreements		—		4,884,736		—		4,884,736
Total Investments	$	147,562,001	$	4,884,736	$	—	$	152,446,737

† See Note 2b in the Notes to Portfolios of Investments for additional information.

(a) See Portfolio of Investments for additional detailed categorizations.

SC LORD ABBETT GROWTH & INCOME FUND

PORTFOLIO OF INVESTMENTS

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code**		Shares		Value
COMMON STOCKS – 96.2%
AEROSPACE & DEFENSE – 0.5%
Lockheed Martin Corp.				40,810	$	2,908,937
AIRLINES – 2.3%
AMR Corp.*				410,640		2,574,713
Delta Air Lines, Inc.*				863,621		10,052,548
						12,627,261
AUTOMOBILES – 1.5%
Ford Motor Co.*				656,830		8,039,599
BEVERAGES – 0.7%
PepsiCo, Inc.				56,720		3,768,476
BIOTECHNOLOGY – 1.5%
Amgen, Inc.*				148,330		8,174,466
CAPITAL MARKETS – 8.7%
Bank of New York Mellon Corp.				442,600		11,565,138
Franklin Resources, Inc.				34,420		3,679,498
Morgan Stanley				252,900		6,241,572
State Street Corp.				128,011		4,820,894
The Charles Schwab Corp.				485,550		6,749,145
The Goldman Sachs Group, Inc.				93,970		13,586,183
						46,642,430
CHEMICALS – 2.7%
Potash Corp. of Saskatchewan, Inc.		CA		13,120		1,889,805
The Dow Chemical Co.				214,030		5,877,264
The Mosaic Co.				117,300		6,892,548
						14,659,617
COMMERCIAL BANKS – 10.3%
Keycorp				666,470		5,305,101
M&T Bank Corp.				43,560		3,563,644
PNC Financial Services Group, Inc.				127,820		6,635,136
Regions Financial Corp.				390,580		2,839,517
Suntrust Banks, Inc.				480,499		12,411,289
Wells Fargo & Co.				795,900		20,000,967
Zions Bancorporation				234,050		4,999,308
						55,754,962
COMPUTERS & PERIPHERALS – 0.8%
EMC Corp.*				223,410		4,537,457
CONSTRUCTION & ENGINEERING – 0.3%
Fluor Corp.				34,350		1,701,356
DIVERSIFIED FINANCIAL SERVICES – 7.9%
Bank of America Corp.				729,104		9,558,553
Citigroup, Inc.*				2,456,870		9,581,793
JP Morgan Chase & Co.				608,207		23,154,441
						42,294,787
DIVERSIFIED TELECOMMUNICATION SERVICES – 2.8%
AT&T, Inc.				320,880		9,177,168

	Country Code**		Shares		Value
Verizon Communications, Inc.				185,110	$	6,032,735
						15,209,903
ELECTRIC UTILITIES – 1.3%
NextEra Energy, Inc.				32,690		1,778,009
Progress Energy, Inc.				72,360		3,214,231
Southern Co.				53,750		2,001,650
						6,993,890
ELECTRICAL EQUIPMENT – 0.9%
Emerson Electric Co.				87,650		4,615,649
ENERGY EQUIPMENT & SERVICES – 2.8%
Halliburton Co.				137,412		4,544,215
Schlumberger, Ltd.		AN		172,100		10,603,081
						15,147,296
FOOD & STAPLES RETAILING – 1.3%
Kroger Co.				317,630		6,879,866
FOOD PRODUCTS – 1.4%
Archer-Daniels-Midland Co.				229,050		7,311,276
HEALTH CARE EQUIPMENT & SUPPLIES – 0.9%
Baxter International, Inc.				57,040		2,721,379
Covidien PLC		IE		54,780		2,201,608
						4,922,987
HEALTH CARE PROVIDERS & SERVICES – 3.0%
CIGNA Corp.				85,640		3,064,199
Tenet Healthcare Corp.*				283,120		1,336,326
UnitedHealth Group, Inc.				339,550		11,921,601
						16,322,126
HOTELS, RESTAURANTS & LEISURE – 3.1%
Carnival Corp.		PA		140,640		5,373,854
Hyatt Hotels Corp., Class A*				133,480		4,990,817
Marriott International, Inc., Class A				177,242		6,350,581
						16,715,252
HOUSEHOLD DURABLES – 0.4%
Pulte Homes, Inc.*				243,300		2,131,308
HOUSEHOLD PRODUCTS – 0.9%
Colgate-Palmolive Co.				60,700		4,665,402
INSURANCE – 1.9%
Berkshire Hathaway, Inc., Class B*				64,090		5,298,961
MetLife, Inc.				131,810		5,068,095
						10,367,056
INTERNET & CATALOG RETAIL – 2.1%
HSN, Inc.*				380,254		11,369,595
MACHINERY – 4.3%
Caterpillar, Inc.				135,840		10,687,891
Eaton Corp.				148,920		12,284,411
						22,972,302

SC LORD ABBETT GROWTH & INCOME FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code**		Shares		Value
MEDIA – 2.8%
Comcast Corp., Class A				538,790	$	9,741,323
Omnicom Group, Inc.				44,710		1,765,151
Time Warner Cable, Inc.				64,736		3,495,097
						15,001,571
METALS & MINING – 6.1%
Barrick Gold Corp.		CA		219,810		10,175,005
Cliffs Natural Resources, Inc.				73,330		4,687,254
Freeport-McMoRan Copper & Gold, Inc.				35,750		3,052,692
Newmont Mining Corp.				157,820		9,912,674
United States Steel Corp.				110,350		4,837,744
						32,665,369
MULTI-LINE RETAIL – 1.2%
Target Corp.				124,460		6,651,142
MULTI-UTILITIES – 1.2%
PG&E Corp.				108,200		4,914,444
Public Service Enterprise Group, Inc.				40,620		1,343,710
						6,258,154
OIL, GAS & CONSUMABLE FUELS – 10.2%
Anadarko Petroleum Corp.				66,840		3,813,222
Apache Corp.				22,170		2,167,339
Chevron Corp.				226,360		18,346,478
El Paso Corp.				393,230		4,868,187
Exxon Mobil Corp.				186,481		11,522,661
Hess Corp.				88,550		5,235,076
Marathon Oil Corp.				102,420		3,390,102
Suncor Energy, Inc.		CA		103,330		3,363,392
Valero Energy Corp.				115,680		2,025,557
						54,732,014
PAPER & FOREST PRODUCTS – 1.2%
International Paper Co.				293,870		6,391,672
PHARMACEUTICALS – 4.9%
Abbott Laboratories				155,250		8,110,260
Johnson & Johnson				74,590		4,621,596
Merck & Co., Inc.				145,358		5,350,628
Pfizer, Inc.				168,480		2,892,802
Teva Pharmaceutical Industries, Ltd. ADR		IL		102,100		5,385,775
						26,361,061
REAL ESTATE INVESTMENT TRUSTS – 0.2%
Annaly Capital Management, Inc.				73,300		1,290,080
ROAD & RAIL – 1.9%
Hertz Global Holdings, Inc.*				954,610		10,109,320
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT – 0.8%
Intel Corp.				131,510		2,528,937
Texas Instruments, Inc.				70,630		1,916,898
						4,445,835

	Country Code**	Shares		Value
SOFTWARE – 1.0%
Oracle Corp.			209,650	$	5,629,102
SPECIALTY RETAIL – 0.4%
J. Crew Group, Inc.*			71,040		2,388,365
Total Common Stocks (Cost $422,691,751)					518,656,941
SHORT TERM INVESTMENTS – 3.9%
MUTUAL FUNDS – 3.9%
State Street Institutional Liquid Reserves Fund (Cost $21,209,903)			21,209,903		21,209,903
TOTAL INVESTMENTS – 100.1% (Cost $443,901,654)					539,866,844
Liabilities in excess of other assets – (0.1)%					(725,739	)
NET ASSETS – 100.0%				$	539,141,105

ADR American Depositary Receipt

AN Netherlands Antilles

CA Canada

IE Ireland

IL Israel

PA Panama

* Non-income producing security.

** Unless otherwise noted the issuer country code for all securities is United States.

SC LORD ABBETT GROWTH & INCOME FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

(1) Fair Value Measurements

All investments are categorized as Level 1 under the fair value hierarchy. See Note 2b in the Notes to Portfolios of Investments for additional information.

SC GOLDMAN SACHS MID CAP VALUE FUND

PORTFOLIO OF INVESTMENTS

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code**		Shares		Value
COMMON STOCKS – 97.4%
AEROSPACE & DEFENSE – 0.8%
L-3 Communications Holdings, Inc.				16,412	$	1,186,095
Rockwell Collins, Inc.				15,774		918,836
						2,104,931
AIR FREIGHT & LOGISTICS – 0.5%
UTI Worldwide, Inc.		VG		87,608		1,408,737
AIRLINES – 1.0%
Alaska Air Group, Inc.*				25,798		1,316,472
JetBlue Airways Corp.*				209,311		1,400,291
						2,716,763
AUTO COMPONENTS – 1.5%
Autoliv, Inc.				36,399		2,377,947
BorgWarner, Inc.*				4,250		223,635
Federal-Mogul Corp.*				10,371		196,116
TRW Automotive Holdings Corp.*				25,529		1,060,985
						3,858,683
BEVERAGES – 0.4%
Dr Pepper Snapple Group, Inc.				26,034		924,728
Molson Coors Brewing Co., Class B				4,705		222,170
						1,146,898
BIOTECHNOLOGY – 0.5%
Cephalon, Inc.*				16,224		1,013,027
Myriad Genetics, Inc.*				19,201		315,088
						1,328,115
BUILDING PRODUCTS – 0.4%
Armstrong World Industries, Inc.*				24,214		1,005,123
CAPITAL MARKETS – 0.5%
Federated Investors, Inc., Class B				36,144		822,637
Legg Mason, Inc.				15,598		472,775
Raymond James Financial, Inc.				3,362		85,160
						1,380,572
CHEMICALS – 2.7%
Ashland, Inc.				8,326		406,059
Cabot Corp.				26,979		878,706
Cytec Industries, Inc.				19,624		1,106,401
Eastman Chemical Co.				23,773		1,759,202
Huntsman Corp.				132,685		1,533,839
PPG Industries, Inc.				8,060		586,768
Scotts Miracle-Gro Co., Class A				8,489		439,136
The Sherwin-Williams Co.				3,304		248,262
						6,958,373
COMMERCIAL BANKS – 5.5%
Bank of Hawaii Corp.				2,071		93,029
CIT Group, Inc.*				10,699		436,733

	Country Code**		Shares		Value
Comerica, Inc.				31,133	$	1,156,591
Fifth Third Bancorp				152,732		1,837,366
Fulton Financial Corp.				130,578		1,183,037
Keycorp				110,979		883,393
M&T Bank Corp.				16,801		1,374,490
Popular, Inc.*		PR		305,621		886,301
Regions Financial Corp.				249,664		1,815,057
Suntrust Banks, Inc.				138,672		3,581,898
TCF Financial Corp.				66,090		1,069,997
						14,317,892
COMMERCIAL SERVICES & SUPPLIES – 0.8%
Avery Dennison Corp.				9,894		367,265
Cintas Corp.				13,520		372,476
R.R. Donnelley & Sons Co.				87,255		1,479,845
						2,219,586
COMMUNICATIONS EQUIPMENT – 0.4%
EchoStar Corp., Class A*				12,497		238,443
Tellabs, Inc.				116,784		870,041
						1,108,484
COMPUTERS & PERIPHERALS – 0.5%
Lexmark International, Inc., Class A*				6,177		275,618
Seagate Technology*		IE		50,290		592,416
Western Digital Corp.*				14,584		414,040
						1,282,074
CONSTRUCTION & ENGINEERING – 0.2%
KBR, Inc.				3,860		95,291
URS Corp.*				9,050		343,719
						439,010
CONSUMER FINANCE – 0.4%
AmeriCredit Corp.*				39,405		963,846
CONTAINERS & PACKAGING – 0.3%
Sealed Air Corp.				7,807		175,501
Sonoco Products Co.				17,684		591,353
						766,854
DISTRIBUTORS – 0.3%
Genuine Parts Co.				15,579		694,668
DIVERSIFIED CONSUMER SERVICES – 0.1%
Hillenbrand, Inc.				12,577		270,531
DIVERSIFIED FINANCIAL SERVICES – 0.1%
Moody’s Corp.				6,540		163,369
DIVERSIFIED TELECOMMUNICATION SERVICES – 0.7%
CenturyLink, Inc.				15,359		606,066
Qwest Communications International, Inc.				192,262		1,205,483
						1,811,549
ELECTRIC UTILITIES – 4.2%
DPL, Inc.				56,956		1,488,260
Edison International(1)				95,472		3,283,282
FirstEnergy Corp.				21,059		811,614

SC GOLDMAN SACHS MID CAP VALUE FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code**		Shares		Value
Great Plains Energy, Inc.				12,617	$	238,461
Northeast Utilities				10,364		306,463
Pepco Holdings, Inc.				37,521		697,891
Pinnacle West Capital Corp.				49,376		2,037,748
PPL Corp.				21,180		576,731
Progress Energy, Inc.				32,025		1,422,551
Westar Energy, Inc.				5,601		135,712
						10,998,713
ELECTRICAL EQUIPMENT – 0.9%
General Cable Corp.*				7,297		197,895
Rockwell Automation, Inc.				31,202		1,926,099
Thomas & Betts Corp.*				5,360		219,867
						2,343,861
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS – 1.7%
Arrow Electronics, Inc.*				25,409		679,182
Avnet, Inc.*				26,783		723,409
Ingram Micro, Inc., Class A*				80,963		1,365,036
National Instruments Corp.				4,798		156,703
Tech Data Corp.*				4,747		191,304
Vishay Intertechnology, Inc.*				136,093		1,317,380
Vishay Precision Group, Inc.*				9,044		141,177
						4,574,191
ENERGY EQUIPMENT & SERVICES – 2.0%
Dresser-Rand Group, Inc.*				7,697		284,063
Exterran Holdings, Inc.*				91,176		2,070,607
Nabors Industries, Ltd.*		BM		53,389		964,206
Oil States International, Inc.*				22,758		1,059,385
Rowan Cos., Inc.*				4,174		125,772
SEACOR Holdings, Inc.*				10,082		858,583
						5,362,616
FOOD PRODUCTS – 3.2%
Bunge, Ltd.		BM		9,625		569,415
Campbell Soup Co.				21,993		786,250
ConAgra Foods, Inc.				49,648		1,089,277
Corn Products International, Inc.				13,179		494,212
Hormel Foods Corp.				42,194		1,881,852
Lancaster Colony Corp.				6,657		316,208
Smithfield Foods, Inc.*				20,706		348,482
Tyson Foods, Inc., Class A				182,490		2,923,490
						8,409,186
GAS UTILITIES – 0.5%
Atmos Energy Corp.				11,981		350,444
Energen Corp.				23,857		1,090,742
						1,441,186
HEALTH CARE EQUIPMENT & SUPPLIES – 1.3%
Boston Scientific Corp.*				218,085		1,336,861
CareFusion Corp.*				29,905		742,840
Hill-Rom Holdings, Inc.				36,133		1,296,814
						3,376,515
HEALTH CARE PROVIDERS & SERVICES – 2.3%
Coventry Health Care, Inc.*				83,330		1,794,095
Health Net, Inc.*				45,537		1,238,151

	Country Code**		Shares		Value
Humana, Inc.*				56,338	$	2,830,421
WellCare Health Plans, Inc.*				3,957		114,595
						5,977,262
HOTELS, RESTAURANTS & LEISURE – 0.3%
Choice Hotels International, Inc.				13,916		507,377
Panera Bread Co., Class A*				3,218		285,147
Wendy’s/Arby’s Group, Inc., Class A				26,735		121,110
						913,634
HOUSEHOLD DURABLES – 3.1%
Garmin Ltd.		CH		34,015		1,032,355
Harman International Industries, Inc.*				40,718		1,360,388
Leggett & Platt, Inc.				58,738		1,336,877
Mohawk Industries, Inc.*				52,954		2,822,448
Whirlpool Corp.(1)				20,663		1,672,877
						8,224,945
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS – 1.6%
Constellation Energy Group				40,694		1,311,975
Mirant Corp.*				98,853		984,576
NRG Energy, Inc.*				95,581		1,989,996
						4,286,547
INDUSTRIAL CONGLOMERATES – 0.2%
Carlisle Cos., Inc.				6,945		208,003
Textron, Inc.				15,103		310,517
						518,520
INSURANCE – 8.5%
American International Group, Inc.*				21,817		853,045
American National Insurance				2,361		179,365
Aon Corp.				3,404		133,130
Aspen Insurance Holdings, Ltd.		BM		43,436		1,315,242
Assurant, Inc.				28,392		1,155,554
Axis Capital Holdings, Ltd.		BM		17,806		586,530
Cincinnati Financial Corp.				3,034		87,531
CNA Financial Corp.*				31,051		869,117
Endurance Specialty Holdings, Ltd.		BM		30,871		1,228,666
Everest Re Group, Ltd.		BM		4,120		356,256
Fidelity National Financial, Inc., Class A				22,683		356,350
Genworth Financial Inc., Class A*				34,405		420,429
Lincoln National Corp.				44,671		1,068,530
Marsh & McLennan Cos., Inc.				60,204		1,452,120
MBIA, Inc.*				37,062		372,473
Mercury General Corp.				17,092		698,550
Old Republic International Corp.				43,597		603,818
Reinsurance Group of America, Inc.				3,561		171,961
RenaissanceRe Holdings Ltd.		BM		3,802		227,968
Symetra Financial Corp.				28,312		296,144

SC GOLDMAN SACHS MID CAP VALUE FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code**		Shares		Value
The Principal Financial Group, Inc.				3,961	$	102,669
The Progressive Corp.(1)				75,326		1,572,054
Transatlantic Holdings, Inc.				14,536		738,720
Unitrin, Inc.				8,409		205,096
Unum Group(1)				152,541		3,378,783
W.R. Berkley Corp.				54,026		1,462,484
White Mountains Insurance Group, Ltd.		BM		4,171		1,286,587
XL Group PLC		IE		44,588		965,776
						22,144,948
INTERNET & CATALOG RETAIL – 1.6%
Expedia, Inc.				75,449		2,128,416
Liberty Media Corp. - Interactive, Series A*				141,538		1,940,486
						4,068,902
INTERNET SOFTWARE & SERVICES – 0.4%
AOL, Inc.*				40,090		992,227
IT SERVICES – 1.1%
Amdocs, Ltd.*		GG		18,243		522,845
Computer Sciences Corp.				9,586		440,956
Teradata Corp.*				42,304		1,631,242
The Western Union Co.				9,121		161,168
						2,756,211
MACHINERY – 3.6%
AGCO Corp.*				38,092		1,485,969
Cummins, Inc.				13,348		1,209,062
Eaton Corp.				34,844		2,874,282
Joy Global, Inc.				4,756		334,442
Lincoln Electric Holdings, Inc.				3,167		183,116
Oshkosh Corp.*				14,179		389,922
Parker Hannifin Corp.				9,630		674,678
The Timken Co.				59,470		2,281,269
						9,432,740
MEDIA – 2.5%
Cablevision Systems Corp., Class A				18,726		490,434
CBS Corp., Class B(1)				39,060		619,492
Clear Channel Outdoor Holdings, Inc., Class A*				12,827		146,613
DISH Network Corp., Class A				214,803		4,115,625
Liberty Global, Inc., Class A*				3,360		103,744
Liberty Media-Starz, Series A*				4,724		306,493
Scripps Networks Interactive, Inc., Class A				7,852		373,598
Virgin Media, Inc.				16,380		377,068
						6,533,067
METALS & MINING – 1.1%
Compass Minerals International, Inc.				1,300		99,606
Reliance Steel & Aluminum Co.				45,395		1,885,254
Schnitzer Steel Industries, Inc., Class A				14,922		720,434

	Country Code**		Shares		Value
Titanium Metals Corp.*				12,889	$	257,265
						2,962,559
MULTI-LINE RETAIL – 0.1%
Big Lots, Inc.*				9,270		308,227
MULTI-UTILITIES – 5.9%
Alliant Energy Corp.				5,134		186,621
Ameren Corp.				112,005		3,180,942
Consolidated Edison, Inc.				5,574		268,778
DTE Energy Co.				30,622		1,406,469
Integrys Energy Group, Inc.				79,244		4,125,443
MDU Resources Group, Inc.				84,077		1,677,336
NiSource, Inc.				196,457		3,418,352
TECO Energy, Inc.				62,976		1,090,744
						15,354,685
OFFICE ELECTRONICS – 0.1%
Xerox Corp.				27,164		281,147
OIL, GAS & CONSUMABLE FUELS – 7.8%
Cimarex Energy Co.				48,809		3,230,180
Frontier Oil Corp.				35,721		478,661
Murphy Oil Corp.				24,907		1,542,241
Peabody Energy Corp.				2,178		106,744
QEP Resources, Inc.				37,920		1,142,909
SM Energy Co.				42,012		1,573,770
Southern Union Co.				4,158		100,041
Sunoco, Inc.				88,169		3,218,169
Teekay Corp.		MH		9,396		251,155
Tesoro Corp.				189,470		2,531,319
Valero Energy Corp.				362,348		6,344,713
						20,519,902
PAPER & FOREST PRODUCTS – 1.8%
Domtar Corp.				14,305		923,817
International Paper Co.				116,056		2,524,218
MeadWestvaco Corp.				48,071		1,171,971
						4,620,006
PERSONAL PRODUCTS – 0.1%
NBTY, Inc.*				4,899		269,347
PHARMACEUTICALS – 1.5%
Endo Pharmaceuticals Holding, Inc.*				5,878		195,385
Forest Laboratories, Inc.*				74,566		2,306,326
King Pharmaceuticals, Inc.*				148,853		1,482,576
						3,984,287
PROFESSIONAL SERVICES – 0.7%
Manpower, Inc.				34,605		1,806,381
REAL ESTATE INVESTMENT TRUSTS – 11.7%
AMB Property Corp.				15,587		412,588
Annaly Capital Management, Inc.				25,857		455,083
AvalonBay Communities, Inc.				56,601		5,882,542
Boston Properties, Inc.				13,371		1,111,398
BRE Properties, Inc.				70,645		2,931,767
Chimera Investment Corp.				38,630		152,589
CommonWealth REIT				39,105		1,001,088

SC GOLDMAN SACHS MID CAP VALUE FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code**	Shares		Value
Equity Residential			16,985	$	807,976
Federal Realty Investment Trust			21,017		1,716,248
Hospitality Properties Trust			5,497		122,748
Host Hotels & Resorts, Inc.			13,357		193,409
Liberty Property Trust			67,852		2,164,479
Mack-Cali Realty Corp.			40,499		1,324,722
Nationwide Health Properties, Inc.			57,458		2,221,901
Plum Creek Timber Co., Inc.			45,983		1,623,200
Rayonier, Inc.			89,414		4,481,430
Realty Income Corp.			34,515		1,163,846
Regency Centers Corp.			28,456		1,123,158
Senior Housing Properties Trust			59,997		1,409,929
Weyerhaeuser Co.			15,551		245,084
					30,545,185
ROAD & RAIL – 0.4%
Ryder System, Inc.			14,334		613,065
Werner Enterprises, Inc.			19,997		409,739
					1,022,804
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT – 1.4%
Advanced Micro Devices, Inc.*			30,349		215,781
Fairchild Semiconductor International, Inc.*			77,921		732,458
Integrated Device Technology, Inc.*			183,840		1,075,464
LSI Corp.*			98,115		447,404
Micron Technology, Inc.*			178,683		1,288,305
					3,759,412
SOFTWARE – 0.6%
Novell, Inc.*			112,010		668,700
Parametric Technology Corp.*			4,483		87,598
Quest Software, Inc.*			3,445		84,712
Synopsys, Inc.*			26,333		652,268
					1,493,278
SPECIALTY RETAIL – 1.3%
Autonation, Inc.*			76,172		1,770,999
Office Depot, Inc.*			37,674		173,300
Urban Outfitters, Inc.*			22,527		708,249
Williams-Sonoma, Inc.			25,095		795,512
					3,448,060
TEXTILES, APPAREL & LUXURY GOODS – 0.0%+
Timberland Co., Class A*			4,355		86,273
THRIFT & MORTGAGE FINANCE – 1.5%
Hudson City Bancorp, Inc.			149,365		1,831,215
New York Community Bancorp, Inc.			81,321		1,321,466
Washington Federal, Inc.			45,248		690,485
					3,843,166
TOBACCO – 3.9%
Lorillard, Inc.			125,992		10,118,417

	Country Code**	Shares		Value
TRADING COMPANIES & DISTRIBUTORS – 0.2%
WESCO International, Inc.*			10,761	$	422,800
WIRELESS TELECOMMUNICATION SERVICES – 0.7%
Leap Wireless International, Inc.*			8,157		100,738
Telephone & Data Systems, Inc.			25,319		830,463
US Cellular Corp.*			17,844		820,289
					1,751,490
Total Common Stocks
(Cost $214,864,481)					254,898,755
SHORT TERM INVESTMENTS – 2.3%
MUTUAL FUNDS – 2.3%
State Street Institutional Liquid Reserves Fund (Cost $6,184,189)			6,184,189		6,184,189
TOTAL INVESTMENTS – 99.7% (Cost $221,048,670)					261,082,944
Other assets less liabilities – 0.3%					666,305
NET ASSETS – 100.0%				$	261,749,249

REIT Real Estate Investment Trust

BM Bermuda

CH Switzerland

GG Guernsey

IE Ireland

MH Marshall Islands

PR Puerto Rico

VG British Virgin Islands

+ Amount is less than 0.05%.

* Non-income producing security.

** Unless otherwise noted the issuer country code for all securities is United States.

SC GOLDMAN SACHS MID CAP VALUE FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

(1) At the period end, securities (or portions thereof) with an aggregate market value of $1,482,542 have been pledged to cover margin requirements for the following open futures contracts:

Type	Description	Expiration Date		Contracts		Aggregate Face Value ($)		Aggregate Notional Value ($)		Unrealized Appreciation ($)
Long	S&P Midcap 400 E-Mini December Futures		12/17/10		74		5,772,995		5,920,740		147,745

SC GOLDMAN SACHS MID CAP VALUE FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

(2) Fair Value Measurements

All investments and financial derivative instruments are categorized as Level 1 under the fair value hierarchy. See Note 2b in the Notes to Portfolios of Investments for additional information.

SC GOLDMAN SACHS SHORT DURATION FUND

PORTFOLIO OF INVESTMENTS

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code**	Principal Amount (000)		Value
ASSET BACKED SECURITIES – 6.3%
Bank of America Auto Trust, Series 2009-1A, Class A2 1.70%, 12/15/11(1)		$	1,141	$	1,141,165
Bank of America Auto Trust, Series 2009-2A, Class A3 2.13%, 9/15/13(1)			7,000		7,086,578
Bank of America Auto Trust, Series 2009-3A, Class A3 1.67%, 12/15/13(1)			9,500		9,603,900
Brazos Higher Education Authority, Series 2004-I, Class A2 0.45%, 6/27/22(2)			5,814		5,750,753
Brazos Higher Education Authority, Series 2005-1, Class 1A2 0.37%, 12/26/18(2)			4,518		4,473,113
Brazos Higher Education Authority, Series 2005-2, Class A9 0.39%, 12/26/17(2)			4,876		4,850,993
College Loan Corporation Trust, Series 2004-1, Class A3 0.66%, 4/25/21(2)			4,000		3,982,787
College Loan Corporation Trust, Series 2005-2, Class A2 0.64%, 10/15/21(2)			2,345		2,337,788
Ford Credit Auto Owner Trust, Series 2009-E, Class A3 1.51%, 1/15/14			7,500		7,569,635
Nelnet Student Loan Corp., Series 2004-2A, Class A3 0.42%, 11/25/15(2)			1,411		1,409,422
Northstar Education Finance, Inc., Series 2004-2, Class A1 0.61%, 4/28/16(2)			3,596		3,435,806
Northstar Education Finance, Inc., Series 2004-1, Class A3 0.66%, 4/28/17(2)			4,284		4,256,154
SLM Student Loan Trust, Series 2004-2, Class A4 0.63%, 10/25/19(2)			3,840		3,820,492
SLM Student Loan Trust, Series 2007-1, Class A3 0.53%, 7/25/18(2)			6,000		5,975,617

	Country Code**		Principal Amount (000)		Value
SLM Student Loan Trust, Series 2007-7, Class A2 0.70%, 1/25/16(2)			$	3,000	$	2,994,219
Total Asset Backed Securities (Cost $68,501,612)						68,688,422
COLLATERALIZED MORTGAGE OBLIGATIONS – 1.7%
Federal Home Loan Mortgage Corp., Series 3318, Class AF 0.51%, 5/15/37(2)				1,823		1,815,709
Federal National Mortgage Association, Series 2009-70, Class AL 5.00%, 8/25/19				15,370		16,742,062
Total Collateralized Mortgage Obligations (Cost $17,982,745)						18,557,771
CONVERTIBLE BONDS – 0.4%
OIL & GAS – EXPLORATION & PRODUCTION – 0.4%
Transocean, Inc., Series B 1.50%, 12/15/37 (Cost $4,336,844)		KY		4,450		4,355,437
CORPORATE DEBT OBLIGATIONS – 40.7%
BANKS – 8.9%
ANZ National (International) Ltd. 3.25%, 4/2/12(1)		NZ		7,900		8,209,119
Banco Santander Chile 2.88%, 11/13/12(1)		CL		6,400		6,458,810
Bank of Nova Scotia 1.45%, 7/26/13(1)		CA		8,800		8,895,163
Canadian Imperial Bank of Commerce
2.00%, 2/4/13(1)		CA		9,600		9,844,301
2.60%, 7/2/15(1)		CA		1,500		1,560,742
Cie de Financement Foncier 1.63%, 7/23/12(1)		FR		2,600		2,610,621
Commonwealth Bank of Australia 2.40%, 1/12/12(1)		AU		4,600		4,707,842
Intesa Sanpaolo New York 2.38%, 12/21/12		IT		4,800		4,806,307
Lloyds TSB Bank PLC 4.38%, 1/12/15(1)		GB		1,625		1,664,193
Royal Bank of Scotland PLC 1.50%, 3/30/12(1)		GB		9,400		9,495,053
Royal Bank of Scotland PLC, Series 2 3.40%, 8/23/13		GB		2,725		2,793,684
Stadshypotek AB 1.45%, 9/30/13(1)		SE		8,100		8,126,463

SC GOLDMAN SACHS SHORT DURATION FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code**		Principal Amount (000)		Value
Standard Chartered PLC 3.85%, 4/27/15(1)		GB	$	3,150	$	3,285,576
Swedbank AB 3.00%, 12/22/11(1)		SE		5,100		5,243,769
UBS AG 2.25%, 8/12/13		CH		4,925		4,974,866
Wachovia Corp. 5.50%, 5/1/13				4,050		4,451,740
Wells Fargo & Co. 4.38%, 1/31/13				1,000		1,067,214
Westpac Banking Corp. 3.25%, 12/16/11(1)		AU		8,700		8,956,563
						97,152,026
BROKERAGE – 1.5%
The Bear Stearns Cos., LLC
0.70%, 1/31/11(2)				8,000		8,006,904
6.95%, 8/10/12				7,875		8,705,395
						16,712,299
CABLE – 0.3%
Time Warner Cable, Inc. 6.20%, 7/1/13				3,350		3,773,943
COMPUTER & PERIPHERALS – 0.8%
Dell, Inc. 1.40%, 9/10/13				3,050		3,061,529
Hewlett-Packard Co.
2.25%, 5/27/11				1,500		1,519,669
6.13%, 3/1/14				3,250		3,755,762
						8,336,960
ELECTRIC UTILITIES – 0.5%
Enel Finance International SA 5.70%, 1/15/13(1)		LU		3,325		3,586,820
Georgia Power Co. 1.30%, 9/15/13				1,650		1,653,899
						5,240,719
ENVIRONMENTAL SERVICES – 0.6%
Allied Waste North America, Inc. 6.38%, 4/15/11				1,675		1,723,407
Waste Management, Inc.
5.00%, 3/15/14				1,825		2,007,485
6.38%, 11/15/12				2,275		2,496,185
						6,227,077
FINANCIALS – 1.7%
American Express Credit Corp. 2.75%, 9/15/15				5,200		5,232,609
General Electric Capital Corp. 6.00%, 6/15/12				1,000		1,079,225
HSBC Finance Corp.
0.63%, 8/9/11(2)				1,400		1,398,341
0.77%, 4/24/12(2)				3,400		3,372,147

	Country Code**		Principal Amount (000)		Value
John Deere Capital Corp.
1.04%, 6/10/11(2)			$	2,475	$	2,488,157
5.25%, 10/1/12				525		570,669
LeasePlan Corp. NV 3.00%, 5/7/12(1)		NL		3,900		4,029,901
						18,171,049
FOOD, BEVERAGES & RESTAURANTS – 2.0%
Anheuser-Busch InBev NV 4.70%, 4/15/12				1,725		1,820,827
Anheuser-Busch InBev Worldwide, Inc.
2.50%, 3/26/13				3,075		3,154,873
3.00%, 10/15/12				1,725		1,791,040
General Mills, Inc.
5.25%, 8/15/13				2,125		2,371,891
6.00%, 2/15/12				2,850		3,039,787
Kellogg Co. 5.13%, 12/3/12				2,050		2,227,331
Kraft Foods, Inc. 2.63%, 5/8/13				4,950		5,130,329
Pepsico, Inc. 4.65%, 2/15/13				1,000		1,089,846
The Kroger Co. 6.75%, 4/15/12				1,200		1,300,598
						21,926,522
HEALTH CARE – 0.3%
Roche Holdings, Inc. 5.00%, 3/1/14(1)				3,175		3,549,844
HEALTH CARE - PRODUCTS – 0.2%
St. Jude Medical, Inc. 3.75%, 7/15/14				2,025		2,171,478
INSURANCE – 1.7%
Metropolitan Life Global Funding I
2.50%, 1/11/13(1)				3,000		3,071,850
5.13%, 11/9/11(1)				3,150		3,272,343
5.13%, 4/10/13(1)				1,000		1,088,395
5.13%, 6/10/14(1)				2,750		3,050,817
New York Life Global Funding 4.65%, 5/9/13(1)				1,000		1,083,049
Prudential Financial, Inc.
2.75%, 1/14/13				4,350		4,456,349
5.10%, 9/20/14				774		846,049
The Chubb Corp. 6.00%, 11/15/11				2,050		2,165,720
						19,034,572
INVESTMENT COMPANIES – 1.2%
FIH Erhvervsbank A/S
2.00%, 6/12/13(1)		DK		6,100		6,238,677
2.45%, 8/17/12(1)		DK		7,200		7,383,910
						13,622,587

SC GOLDMAN SACHS SHORT DURATION FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code**		Principal Amount (000)		Value
MANUFACTURING DIVERSIFIED – 0.3%
Tyco International Finance SA 6.00%, 11/15/13		LU	$	3,115	$	3,530,510
MULTIMEDIA – 2.3%
Comcast Cable Communications Holdings, Inc. 8.38%, 3/15/13				4,300		4,993,556
Comcast Corp. 5.45%, 11/15/10				3,675		3,695,058
NBC Universal, Inc. 2.10%, 4/1/14(1)(3)				2,975		2,988,819
Reed Elsevier Capital, Inc.
4.63%, 6/15/12				5,650		5,921,923
6.75%, 8/1/11				950		996,207
The Walt Disney Co. 6.38%, 3/1/12				2,700		2,913,546
Thomson Reuters Corp. 5.95%, 7/15/13		CA		3,000		3,368,091
						24,877,200
OIL & GAS – 0.8%
BP Capital Markets PLC 3.13%, 10/1/15		GB		2,700		2,714,183
Shell International Finance BV 1.88%, 3/25/13		NL		5,700		5,834,440
						8,548,623
PHARMACEUTICALS – 1.7%
Express Scripts, Inc. 5.25%, 6/15/12				3,075		3,282,722
Medco Health Solutions, Inc. 2.75%, 9/15/15				2,700		2,742,517
Merck & Co., Inc. 1.88%, 6/30/11				1,700		1,719,445
Novartis Capital Corp. 1.90%, 4/24/13				2,975		3,053,864
Pfizer, Inc. 4.45%, 3/15/12				3,325		3,500,005
Teva Pharmaceutical Finance III LLC 1.50%, 6/15/12				3,650		3,695,129
						17,993,682
PIPELINES – 0.8%
Enterprise Products Operating LLC 7.63%, 2/15/12				2,475		2,661,340
The Williams Cos., Inc. 6.38%, 10/1/10(1)				1,400		1,400,000
TransCanada PipeLines Ltd. 8.63%, 5/15/12		CA		1,525		1,707,361
Williams Partners LP 7.50%, 6/15/11				3,050		3,181,007
						8,949,708

	Country Code**		Principal Amount (000)		Value
REAL ESTATE INVESTMENT TRUSTS – 0.8%
Simon Property Group LP 4.20%, 2/1/15			$	3,675	$	3,943,382
WEA Finance LLC / WCI Finance LLC 5.40%, 10/1/12(1)				4,350		4,640,132
						8,583,514
REFINING – 1.6%
ConocoPhillips 9.38%, 2/15/11				5,800		5,993,122
Devon Financing Corp. ULC 6.88%, 9/30/11		CA		1,800		1,904,251
EnCana Corp.
4.75%, 10/15/13		CA		1,700		1,850,380
6.30%, 11/1/11		CA		775		817,711
Energy Transfer Partners LP 5.65%, 8/1/12				3,325		3,537,474
XTO Energy, Inc. 5.75%, 12/15/13				3,175		3,649,720
						17,752,658
RETAIL – 0.7%
CVS Caremark Corp. 5.75%, 8/15/11				2,900		3,021,655
Wal-Mart Stores Inc. 3.20%, 5/15/14				4,000		4,282,648
						7,304,303
SAVINGS & LOANS – 0.2%
U.S. Central Federal Credit Union 1.90%, 10/19/12				2,400		2,461,774
SOFTWARE – 1.4%
Fiserv, Inc. 6.13%, 11/20/12				4,875		5,320,048
Microsoft Corp. 2.95%, 6/1/14				5,000		5,301,170
Oracle Corp. 4.95%, 4/15/13				4,100		4,516,351
						15,137,569
SPECIAL PURPOSE BANKS – 3.5%
Kreditanstalt Fur Wiederaufbau
2.50%, 5/28/13		DE		5,500		5,742,132
3.75%, 6/27/11		DE		900		922,787
L-Bank BW Foerderbank 3.25%, 10/29/10		DE		4,000		4,006,840
Landwirtschaftliche Rentenbank
1.88%, 9/24/12		DE		12,300		12,578,767
3.25%, 3/15/13		DE		9,000		9,515,133
4.13%, 7/15/13		DE		5,200		5,642,822
						38,408,481

SC GOLDMAN SACHS SHORT DURATION FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code**		Principal Amount (000)		Value
SPECIAL PURPOSE ENTITIES – 0.5%
MassMutual Global Funding II 0.79%, 9/27/13(1)(2)			$	5,300	$	5,292,215
TELECOMMUNICATIONS – 3.8%
France Telecom SA
4.38%, 7/8/14		FR		6,000		6,614,778
7.75%, 3/1/11		FR		2,500		2,573,363
Rogers Communications, Inc.
5.50%, 3/15/14		CA		625		700,623
6.25%, 6/15/13		CA		625		703,304
6.38%, 3/1/14		CA		4,250		4,895,949
7.88%, 5/1/12		CA		250		276,060
Telecom Italia Capital 5.25%, 11/15/13		LU		5,175		5,560,004
Telefonica Emisiones SAU 5.86%, 2/4/13		ES		3,500		3,819,207
Verizon Wireless Capital LLC
3.75%, 5/20/11				5,475		5,583,613
5.25%, 2/1/12				4,625		4,897,380
7.38%, 11/15/13				1,803		2,133,564
Vodafone Group PLC 5.35%, 2/27/12		GB		3,225		3,415,781
						41,173,626
TOBACCO – 0.4%
Philip Morris International, Inc. 4.88%, 5/16/13				3,750		4,116,772
TRANSPORTATION – 0.6%
Burlington Northern Santa Fe Corp. 5.90%, 7/1/12				4,200		4,542,758
CSX Corp. 6.75%, 3/15/11				1,425		1,460,890
						6,003,648
UTILITIES – 1.6%
Duke Energy Corp. 6.30%, 2/1/14				3,100		3,541,663
MidAmerican Energy Holdings Co. 5.00%, 2/15/14				3,600		3,948,430
Progress Energy, Inc.
6.85%, 4/15/12				3,050		3,304,544
7.10%, 3/1/11				1,525		1,563,079
Public Service Co. of Colorado 7.88%, 10/1/12				1,125		1,271,813
Southern Co. 0.92%, 10/21/11(2)				2,100		2,107,211
4.15%, 5/15/14				1,400		1,516,704
						17,253,444
Total Corporate Debt Obligations (Cost $431,222,442)						443,306,803

	Country Code**		Principal Amount (000)		Value
FOREIGN GOVERNMENT AGENCY OBLIGATIONS – 0.6%
Societe Financement de l’Economie Francaise 2.00%, 2/25/11(1)		FR	$	5,000	$	5,035,045
Swedish Housing Finance Corp. 3.13%, 3/23/12(1)		SE		1,700		1,758,426
Total Foreign Government Agency Obligations (Cost $6,760,457)						6,793,471
FOREIGN GOVERNMENT OBLIGATIONS – 1.3%
Province of Ontario 1.88%, 11/19/12 (Cost $14,281,242)		CA		14,300		14,649,020
MUNICIPAL BONDS – 0.7%
Pennsylvania Higher Education Assistance Agency 1.10%, 4/25/19(2)				3,936		3,962,329
San Francisco, California City & County Airports Commission 1.87%, 5/1/12				3,500		3,539,095
Total Municipal Bonds (Cost $7,435,997)						7,501,424
U.S. GOVERNMENT GUARANTEED NOTES – 8.6%
FDIC Structured Sale Guaranteed Notes, Series 2010-S1, Class 1A 0.81%, 2/25/48(1)(2)				2,557		2,561,406
TLGP Ally Financial, Inc. 2.20%, 12/19/12				6,900		7,133,179
TLGP BancWest Corp. 2.15%, 3/27/12				10,100		10,349,682
TLGP Citibank NA 1.88%, 5/7/12				6,900		7,043,955
TLGP Citigroup Funding, Inc.
1.88%, 10/22/12				11,300		11,588,354
1.88%, 11/15/12				4,300		4,408,622
TLGP Citigroup, Inc. 2.13%, 4/30/12				15,500		15,892,863
TLGP General Electric Capital Corp.
2.00%, 9/28/12				4,700		4,829,410
2.13%, 12/21/12				10,000		10,318,410
2.20%, 6/8/12				15,000		15,420,570
3.00%, 12/9/11				1,800		1,854,671
TLGP HSBC USA, Inc. 3.13%, 12/16/11				1,900		1,961,419
Total U.S. Government Guaranteed Notes (Cost $91,338,570)						93,362,541
U.S. TREASURY AND U.S. GOVERNMENT AGENCY OBLIGATIONS – 35.1%
Federal Home Loan Mortgage Corp. 4.50%, 1/15/13				12,500		13,594,475

SC GOLDMAN SACHS SHORT DURATION FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code**	Principal Amount (000)			Value
4.50%, 5/1/23		$	16		$	16,510
5.00%, 3/1/16			1			987
5.00%, 5/1/16			2			2,592
5.00%, 9/1/16			5			5,163
5.00%, 11/1/16			84			89,069
5.00%, 10/1/17			747			797,294
5.00%, 11/1/17			1,859			1,983,669
5.00%, 3/1/18			5			5,370
5.00%, 8/1/18			5			5,518
5.00%, 4/1/38			74			78,565
5.00%, 3/1/39			256			273,597
5.00%, 4/1/39			544			578,477
5.00%, 5/1/39			88			94,021
5.00%, 6/1/39			271			288,745
5.00%, 10/1/39			287			305,973
5.50%, 1/1/20			1,002			1,082,941
6.50%, 10/1/37			556			620,143
6.50%, 12/1/38			321			356,014
Federal National Mortgage Association
2.05%, 4/26/13			16,000			16,121,440
2.30%, 4/1/35(2)			2,477			2,562,819
2.74%, 11/1/34(2)(3)			10,364			10,867,207
2.82%, 6/1/35(2)			6,937			7,286,860
2.89%, 4/1/37(2)			1,850			1,937,386
3.50%, TBA(3)			12,000			12,288,744
5.00%, 5/1/39			26			27,582
5.00%, 6/1/39			36			38,615
5.00%, 7/1/39			29			31,013
6.00%, 3/1/32			0	*		84
6.00%, 5/1/33			5			5,577
6.00%, 12/1/33			2			2,348
6.00%, 4/1/35			3			2,805
6.00%, 2/1/36			6			6,214
6.00%, 3/1/36			5			5,029
6.00%, 5/1/36			2			1,943
6.00%, 6/1/36			4			4,166
Government National Mortgage Association 4.00%, TBA(3)			7,000			7,226,874
U.S. Treasury Bonds
3.88%, 8/15/40			100			103,375
4.38%, 5/15/40			2,200			2,470,886
U.S. Treasury Inflation Indexed Bonds
2.38%, 4/15/11			8,457			8,561,110
3.00%, 7/15/12			15,884			16,866,696
U.S. Treasury Notes
0.38%, 8/31/12			15,000			14,988,870
0.38%, 9/30/12			1,200			1,198,687
0.63%, 6/30/12			55,100			55,323,706
0.63%, 7/31/12			22,000			22,091,960
0.75%, 5/31/12			39,300			39,535,014
0.88%, 1/31/12			30,900			31,122,109
1.00%, 3/31/12			55,400			55,947,352
1.25%, 9/30/15			700			698,907
1.38%, 1/15/13			20,400			20,803,226
1.38%, 3/15/13(4)			30,400			31,024,720
1.75%, 4/15/13			2,800			2,884,644
Total U.S. Treasury and U.S. Government Agency Obligations
(Cost $379,400,437)						382,217,091

	Country Code**	Principal Amount (000)		Value
SHORT TERM INVESTMENTS – 7.6%
MUNICIPAL BONDS – 0.5%
State of Illinois 3.00%, 6/14/11 (Cost $5,130,627)		$	5,100	$	5,156,508
		Shares
MUTUAL FUNDS – 7.1%
State Street Institutional Liquid Reserves Fund (Cost $77,327,286)			77,327,286		77,327,286
Total Short Term Investments (Cost $82,457,913)					82,483,794
TOTAL INVESTMENTS – 103.0% (Cost $1,103,718,259)					1,121,915,774
Liabilities in excess of other assets – (3.0)%					(32,205,985	)
NET ASSETS – 100.0%				$	1,089,709,789

FDIC Federal Deposit Insurance Corporation

TBA To Be Announced. Securities are purchased on a forward commitment basis with an approximate principal amount and no definite maturity date. The actual principal and maturity date will be determined upon settlement when the specific mortgage pools are assigned. At the period end, total market value of the TBA securities amounts to $19,515,618 which represents approximately 1.8% of net assets.

TLGP Temporary Liquidity Guarantee Program. Under the Temporary Liquidity Guarantee Program, the Federal Deposit Insurance Corporation guarantees principal and interest in the event of payment default or bankruptcy until the earlier of maturity date of the debt or until June 30, 2012.

AU Australia

CA Canada

CH Switzerland

CL Chile

DE Germany

DK Denmark

ES Spain

FR France

GB Great Britain

IT Italy

KY Cayman Islands

LU Luxembourg

NL Netherlands

NZ New Zealand

SE Sweden

* Amount is less than $500.

** Unless otherwise noted the issuer country code for all securities is United States.

SC GOLDMAN SACHS SHORT DURATION FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

(1) Eligible for resale under rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the period end, the value of these securities amounted to $156,921,507, representing 14.4% of net assets.

(2) Variable rate security. The interest rate shown reflects the rate in effect at the period end.

(3) Security (or a portion thereof) has been purchased on a delayed delivery or when-issued basis.

SC GOLDMAN SACHS SHORT DURATION FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

(4) At the period end, securities (or portions thereof) with an aggregate market value of $2,041,100 have been pledged to cover margin requirements for the following open futures contracts:

Type	Description	Expiration Date		Contracts		Aggregate Face Value ($)		Aggregate Notional Value ($)		Unrealized Appreciation / (Depreciation) ($)
Long	90-Day Eurodollar December Futures		12/13/10		21		5,196,558		5,231,100		34,542
Short	90-Day Eurodollar December Futures		12/19/11		103		25,156,205		25,569,750		(413,545	)
Short	90-Day Eurodollar June Futures		6/13/11		62		15,253,395		15,424,825		(171,430	)
Short	90-Day Eurodollar March Futures		3/14/11		62		15,311,520		15,436,450		(124,930	)
Short	90-Day Eurodollar September Futures		9/19/11		103		25,246,330		25,600,650		(354,320	)
Short	U.S. Treasury 10 Year Note December Futures		12/21/10		10		1,259,671		1,260,469		(798	)
Long	U.S. Treasury 2 Year Note December Futures		12/31/10		1,239		271,556,499		271,941,142		384,643
Short	U.S. Treasury 30 Year Bond December Futures		12/21/10		79		10,561,709		10,563,781		(2,072	)
Short	U.S. Treasury 5 Year Note December Futures		12/31/10		379		45,758,486		45,808,664		(50,178	)
Net unrealized depreciation											(698,088	)

SC GOLDMAN SACHS SHORT DURATION FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

(5) Fair Value Measurements †

The following table summarizes the inputs used to value the Fund’s assets and liabilities, as applicable, measured at fair value at the period end:

Assets	Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)			Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Asset Backed Securities	$	—		$	68,688,422	$	—	$	68,688,422
Collateralized Mortgage Obligations		—			18,557,771		—		18,557,771
Convertible Bonds (a)		—			4,355,437		—		4,355,437
Corporate Debt Obligations (a)		—			443,306,803		—		443,306,803
Foreign Government Agency Obligations		—			6,793,471		—		6,793,471
Foreign Government Obligations		—			14,649,020		—		14,649,020
Municipal Bonds		—			7,501,424		—		7,501,424
U.S. Government Guaranteed Notes		—			93,362,541		—		93,362,541
U.S. Treasury and U.S. Government Agency Obligations		303,621,262			78,595,829		—		382,217,091
Short Term Investments
Municipal Bonds		—			5,156,508		—		5,156,508
Mutual Funds		77,327,286			—		—		77,327,286
Total Short Term Investments		77,327,286			5,156,508		—		82,483,794
Total Investments		380,948,548			740,967,226		—		1,121,915,774
Financial Derivative Instruments
Futures Contracts		419,185			—		—		419,185
Total Financial Derivative Instruments	$	419,185		$	—	$	—	$	419,185
Liabilities
Financial Derivative Instruments
Futures Contracts	$	(1,117,273	)	$	—	$	—	$	(1,117,273	)
Total Financial Derivative Instruments	$	(1,117,273	)	$	—	$	—	$	(1,117,273	)

† See Note 2b in the Notes to Portfolios of Investments for additional information.

(a) See Portfolio of Investments for additional detailed categorizations.

SC COLUMBIA SMALL CAP VALUE FUND

PORTFOLIO OF INVESTMENTS

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code**	Shares		Value
COMMON STOCKS – 99.7%
AEROSPACE & DEFENSE – 1.8%
AAR Corp.*			8,640	$	161,222
Ceradyne, Inc.*			9,950		232,333
Esterline Technologies Corp.*			4,060		232,354
Ladish Co., Inc.*			9,500		295,735
					921,644
AIR FREIGHT & LOGISTICS – 0.3%
Pacer International, Inc.*			24,860		150,154
AIRLINES – 0.3%
SkyWest, Inc.			11,510		160,680
BIOTECHNOLOGY – 0.4%
Martek Biosciences Corp.*			8,410		190,318
BUILDING PRODUCTS – 1.6%
Ameron International Corp.			3,860		262,326
Lennox International, Inc.			3,700		154,253
Smith A O Corp.			3,780		218,824
Universal Forest Products, Inc.			5,920		173,160
					808,563
CAPITAL MARKETS – 3.0%
Federated Investors, Inc., Class B			5,500		125,180
GFI Group, Inc.			34,180		158,595
International Assets Holding Corp.*			13,880		251,228
Investment Technology Group, Inc.*			18,910		268,900
Knight Capital Group, Inc.*			26,340		326,353
optionsXpress Holdings, Inc.*			13,150		201,984
Piper Jaffray Cos., Inc.*			7,730		225,175
					1,557,415
CHEMICALS – 2.2%
Fuller H B Co.			16,650		330,836
Minerals Technologies, Inc.			4,610		271,621
OM Group, Inc.*			18,112		545,533
					1,147,990
COMMERCIAL BANKS – 7.6%
Ameris Bancorp*			21,823		204,045
Bancfirst Corp.			6,060		245,188
BancTrust Financial Group, Inc.*			16,027		49,043
Bryn Mawr Bank Corp.			12,556		216,214
Chemical Financial Corp.			14,950		308,568
Columbia Banking System, Inc.			15,900		312,435
Community Trust Bancorp, Inc.			9,750		264,127
First Citizens BancShares, Inc.			2,050		379,803
First Commonwealth Financial Corp.			51,500		280,675
First Financial Corp.			10,902		321,609
First National Bank Alaska			100		189,600
Hancock Holding Co.			7,913		237,944
Investors Bancorp, Inc.*			15,300		181,152
Merchants Bancshares, Inc.			9,730		242,666

	Country Code**		Shares		Value
Northfield Bancorp, Inc.				14,402	$	155,830
Northrim Bancorp, Inc.				11,588		192,361
West Coast Bancorp*				64,050		146,034
						3,927,294
COMMERCIAL SERVICES & SUPPLIES – 2.0%
ABM Industries, Inc.				8,150		175,959
Consolidated Graphics, Inc.*				5,970		247,456
Ennis, Inc.				10,650		190,528
G&K Services, Inc.				7,536		172,273
United Stationers, Inc.*				4,300		230,093
						1,016,309
COMMUNICATIONS EQUIPMENT – 2.2%
Anaren, Inc.*				11,338		190,365
Bel Fuse, Inc., Class B				6,560		136,579
Black Box Corp.				7,200		230,832
Plantronics, Inc.				6,300		212,814
Symmetricom, Inc.*				27,850		159,302
Tekelec, Inc.*				15,020		194,659
						1,124,551
CONSTRUCTION & ENGINEERING – 2.9%
Comfort Systems USA, Inc.				15,670		168,139
Dycom Industries, Inc.*				21,550		215,284
EMCOR Group, Inc.*				12,000		295,080
KBR, Inc.				10,350		255,024
KHD Humboldt Wedag International AG		DE		9,833		80,429
Layne Christensen Co.*				7,250		187,703
Pike Electric Corp.*				18,290		133,151
Sterling Construction Co., Inc.*				12,750		157,845
						1,492,655
CONSTRUCTION MATERIALS – 0.2%
Eagle Materials, Inc.				4,580		108,546
CONSUMER FINANCE – 0.6%
Cash America International, Inc.				9,590		335,650
CONTAINERS & PACKAGING – 2.2%
Greif, Inc., Class A				3,400		200,056
Greif, Inc., Class B				9,023		517,920
Packaging Corp of America				6,950		161,032
Silgan Holdings, Inc.				8,010		253,917
						1,132,925
DIVERSIFIED CONSUMER SERVICES – 0.5%
Regis Corp.				13,050		249,647
DIVERSIFIED FINANCIAL SERVICES – 0.5%
Medallion Financial Corp.				15,750		122,693
Pico Holdings, Inc.*				4,100		122,426
						245,119
DIVERSIFIED TELECOMMUNICATION SERVICES – 0.3%
Warwick Valley Telephone Co.				11,562		164,643
ELECTRIC UTILITIES – 1.2%
ALLETE, Inc.				8,500		309,655

SC COLUMBIA SMALL CAP VALUE FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code**		Shares		Value
MGE Energy, Inc.				7,300	$	289,007
						598,662
ELECTRICAL EQUIPMENT – 1.3%
Belden, Inc.				8,600		226,868
Broadwind Energy, Inc.*				108,730		203,325
GrafTech International Ltd.*				15,780		246,641
						676,834
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS – 3.5%
Anixter International, Inc.*				5,189		280,154
Benchmark Electronics, Inc.*				17,050		279,620
Brightpoint, Inc.*				24,245		169,473
CTS Corp.				18,250		175,565
Electro Scientific Industries, Inc.*				12,050		133,875
Littelfuse, Inc.*				5,350		233,795
Methode Electronics, Inc.				17,650		160,262
MTS Systems Corp.				6,150		190,650
Nam Tai Electronics, Inc.*		VG		35,310		163,132
						1,786,526
ENERGY EQUIPMENT & SERVICES – 3.0%
Cal Dive International, Inc.*				27,190		148,730
Dawson Geophysical Co.*				6,620		176,423
Gulf Island Fabrication, Inc.				12,560		228,592
Matrix Service Co.*				13,800		120,750
Patterson-UTI Energy, Inc.				14,750		251,930
T-3 Energy Services, Inc.*				7,200		188,280
TGC Industries, Inc.*				25,061		96,234
Tidewater, Inc.				4,700		210,607
Union Drilling, Inc.*				28,250		126,560
						1,548,106
FOOD & STAPLES RETAILING – 0.8%
Ruddick Corp.				7,600		263,568
Spartan Stores, Inc.				11,730		170,085
						433,653
FOOD PRODUCTS – 0.7%
Fresh Del Monte Produce, Inc.*		KY		16,230		352,191
GAS UTILITIES – 1.2%
Nicor, Inc.				8,040		368,393
The Laclede Group, Inc.				7,110		244,726
						613,119
HEALTH CARE EQUIPMENT & SUPPLIES – 2.7%
Analogic Corp.				3,350		150,348
Angiodynamics, Inc.*				11,150		169,926
Cantel Medical Corp.				11,250		182,250
ICU Medical, Inc.*				4,565		170,229
Kensey Nash Corp.*				8,884		256,659
Medical Action Industries, Inc.*				17,000		153,850
Symmetry Medical, Inc.*				19,190		184,992
Young Innovations, Inc.				5,150		147,341
						1,415,595
HEALTH CARE PROVIDERS & SERVICES – 4.1%
AmSurg Corp.*				10,940		191,231

	Country Code**		Shares		Value
Centene Corp.*				6,820	$	160,884
Healthspring, Inc.*				16,650		430,236
Kindred Healthcare, Inc.*				16,730		217,825
Magellan Health Services, Inc.*				5,800		273,992
Medcath Corp.*				20,510		206,536
NovaMed, Inc.*				11,876		115,078
Owens & Minor, Inc.				7,160		203,774
Triple-S Management Corp., Class B*		PR		9,350		157,547
U.S. Physical Therapy, Inc.*				9,470		158,338
						2,115,441
HOTELS, RESTAURANTS & LEISURE – 1.8%
Benihana, Inc.*				23,525		178,555
Bob Evans Farms, Inc.				9,040		253,753
CEC Entertainment, Inc.*				4,800		164,784
Jack In The Box, Inc.*				7,250		155,440
Red Robin Gourmet Burgers, Inc.*				8,000		156,880
						909,412
HOUSEHOLD DURABLES – 1.0%
American Greetings Corp.				9,270		172,329
Cavco Industries, Inc.*				4,950		177,754
CSS Industries, Inc.				9,561		165,310
						515,393
INSURANCE – 9.5%
Allied World Assurance Co. Holdings, Ltd.		BM		3,760		212,778
American Safety Insurance Holdings, Ltd.*		BM		13,770		225,002
Argo Group International Holdings, Inc.		BM		8,790		305,365
Baldwin & Lyons, Inc., Class B				9,385		238,848
CNA Surety Corp.*				16,700		299,264
eHealth, Inc.*				26,564		343,207
EMC Insurance Group, Inc.				10,550		224,926
FBL Financial Group, Inc.				10,750		279,285
First Mercury Financial Corp.				21,722		218,958
Global Indemnity PLC*		IE		28,725		461,036
Hanover Insurance Group, Inc.				3,940		185,180
Harleysville Group, Inc.				5,500		180,345
Horace Mann Educators Corp.				20,850		370,713
National Western Life Insurance Co.				1,030		144,900
Navigators Group, Inc.*				7,750		345,883
Safety Insurance Group, Inc.				8,060		338,681
Stewart Information Services Corp.				13,300		150,556
United Fire & Casualty Co.				16,750		355,268
						4,880,195
INTERNET SOFTWARE & SERVICES – 1.0%
InfoSpace, Inc.*				18,106		156,798
United Online, Inc.				31,140		178,121
Valueclick, Inc.*				13,330		174,356
						509,275
IT SERVICES – 2.5%
Acxiom Corp.*				12,640		200,470

SC COLUMBIA SMALL CAP VALUE FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code**		Shares		Value
CACI International, Inc., Class A*				5,000	$	226,300
CSG Systems International, Inc.*				10,750		195,973
MAXIMUS, Inc.				3,200		197,056
Moneygram International, Inc.*				85,516		208,659
Teletech Holdings, Inc.*				16,790		249,164
						1,277,622
LEISURE EQUIPMENT & PRODUCTS – 0.5%
Jakks Pacific, Inc.*				14,240		251,194
MACHINERY – 3.5%
Astec Industries, Inc.*				6,550		186,871
CIRCOR International, Inc.				6,100		192,760
EnPro Industries, Inc.*				8,270		258,686
FreightCar America, Inc.				6,900		169,740
Harsco Corp.				5,800		142,564
Kadant, Inc.*				11,700		221,247
LB Foster Co.*				5,770		166,984
Mueller Industries, Inc.				9,600		254,304
Robbins & Myers, Inc.				7,000		187,460
						1,780,616
MARINE – 0.3%
Diana Shipping, Inc.*		MH		12,820		162,814
MEDIA – 0.4%
Scholastic Corp.				8,410		233,966
METALS & MINING – 2.3%
Carpenter Technology Corp.				4,390		147,987
Haynes International, Inc.				6,900		240,948
Olympic Steel, Inc.				8,990		206,680
RTI International Metals, Inc.*				6,620		202,704
Terra Nova Royalty Corp.*		CA		10,600		79,076
Thompson Creek Metals Co., Inc.*		CA		29,230		315,100
						1,192,495
MULTI-UTILITIES – 1.6%
Avista Corp.				14,120		294,826
CH Energy Group, Inc.				5,350		236,256
NorthWestern Corp.				9,950		283,575
						814,657
OIL, GAS & CONSUMABLE FUELS – 3.3%
Berry Petroleum Co.				6,740		213,860
Bill Barrett Corp.*				6,850		246,600
Forest Oil Corp.*				5,950		176,715
Holly Corp.				6,000		172,500
International Coal Group, Inc.*				33,476		178,092
Stone Energy Corp.*				15,025		221,318
Swift Energy Co.*				9,700		272,376
World Fuel Services Corp.				7,570		196,896
						1,678,357
PHARMACEUTICALS – 0.4%
Medicis Pharmaceutical Corp., Class A				7,700		228,305

	Country Code**		Shares		Value
PROFESSIONAL SERVICES – 1.5%
CDI Corp.				11,200	$	144,704
FTI Consulting, Inc.*				4,550		157,839
Kforce, Inc.*				10,300		141,316
Korn / Ferry International*				11,450		189,383
Lecg Corp.*				22,596		24,856
Navigant Consulting, Inc.*				12,050		140,142
						798,240
REAL ESTATE INVESTMENT TRUSTS – 5.4%
Chesapeake Lodging Trust				3,163		51,747
DCT Industrial Trust, Inc.				53,760		257,510
DiamondRock Hospitality Co.*				32,800		311,272
Franklin Street Properties Corp.				17,450		216,729
Getty Realty Corp.				7,810		209,542
National Health Investors, Inc.				5,900		259,954
Potlatch Corp.				9,200		312,800
Starwood Property Trust, Inc.				16,430		326,464
Sunstone Hotel Investors, Inc.*				19,150		173,691
Terreno Realty Corp.*				11,700		213,174
Universal Health Realty Income Trust				6,300		216,783
Urstadt Biddle Properties, Inc., Class A				13,500		244,080
						2,793,746
REAL ESTATE MANAGEMENT & DEVELOPMENT – 0.4%
Avatar Holdings, Inc.*				10,056		191,868
ROAD & RAIL – 1.3%
Heartland Express, Inc.				11,550		171,748
Ryder System, Inc.				4,600		196,742
Werner Enterprises, Inc.				15,600		319,644
						688,134
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT – 2.2%
Amkor Technology, Inc.*				25,270		166,024
ATMI, Inc.*				10,150		150,829
Integrated Device Technology, Inc.*				24,990		146,191
MKS Instruments, Inc.*				7,070		127,119
Tessera Technologies, Inc.*				7,620		140,970
Varian Semiconductor Equipment Associates, Inc.*				4,450		128,071
Verigy Ltd.*		SG		13,600		110,568
Zoran Corp.*				18,950		144,778
						1,114,550
SOFTWARE – 1.6%
Compuware Corp.*				18,050		153,966
Jack Henry & Associates, Inc.				5,300		135,150
Monotype Imaging Holdings, Inc.*				16,550		151,433
Parametric Technology Corp.*				7,800		152,412
Progress Software Corp.*				6,900		228,390
						821,351
SPECIALTY RETAIL – 4.8%
America’s Car-mart, Inc.*				7,300		183,814
Christopher & Banks Corp.				24,150		191,027

SC COLUMBIA SMALL CAP VALUE FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code**	Shares		Value
Finish Line, Inc., Class A			15,340	$	213,379
Foot Locker, Inc.			16,350		237,565
GameStop Corp., Class A*			10,050		198,086
OfficeMax, Inc.*			15,350		200,931
Pacific Sunwear of California, Inc.*			80,780		422,479
Rental-A-Center, Inc.			15,600		349,128
Shoe Carnival, Inc.*			11,885		240,315
The Men’s Wearhouse, Inc.			10,100		240,279
					2,477,003
TEXTILES, APPAREL & LUXURY GOODS – 0.3%
Movado Group, Inc.*			16,048		174,602
THRIFT & MORTGAGE FINANCE – 4.9%
Bank Mutual Corp.			46,370		240,660
BankFinancial Corp.			28,203		258,622
Beneficial Mutual Bancorp, Inc.*			29,330		263,090
Brookline Bancorp, Inc.			32,333		322,683
Clifton Savings Bancorp, Inc.			17,395		149,597
ESSA Bancorp, Inc.			15,219		180,193
Home Federal Bancorp, Inc.			22,526		274,141
TrustCo Bank Corp NY			29,650		164,854
United Financial Bancorp, Inc.			13,929		188,181
Washington Federal, Inc.			14,830		226,306
Westfield Financial, Inc.			30,260		236,028
					2,504,355
TRADING COMPANIES & DISTRIBUTORS – 0.9%
Applied Industrial Technologies, Inc.			7,300		223,380
Kaman Corp.			8,750		229,338
					452,718
WIRELESS TELECOMMUNICATION SERVICES – 1.2%
NTELOS Holdings Corp.			14,050		237,726
Shenandoah Telecommunications Co.			9,460		171,888
Syniverse Holdings, Inc.*			9,110		206,524
					616,138
Total Common Stocks (Cost $54,097,729)					51,341,236
		Principal Amount (000)
SHORT TERM INVESTMENTS – 0.5%
REPURCHASE AGREEMENTS – 0.5%
State Street Bank and Trust Company, 0.01%, dated 9/30/10, due 10/1/10 (collateralized by $250,000 U.S. Treasury Note, 2.125%, 5/31/15, with a value of $262,425, total to be received $257,191) (Amortized cost $257,191)		$	257		257,191

	Value
TOTAL INVESTMENTS – 100.2% (Cost $54,354,920)	$	51,598,427
Liabilities in excess of other assets – (0.2)%		(110,647	)
NET ASSETS – 100.0%	$	51,487,780

BM Bermuda

CA Canada

DE Germany

IE Ireland

KY Cayman Islands

MH Marshall Islands

PR Puerto Rico

SG Singapore

VG British Virgin Islands

* Non-income producing security.

** Unless otherwise noted the issuer country code for all securities is United States.

SC COLUMBIA SMALL CAP VALUE FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

(1) Fair Value Measurements †

The following table summarizes the inputs used to value the Fund’s assets and liabilities, as applicable, measured at fair value at the period end:

Assets	Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Common Stocks (a)	$	51,341,236	$	—	$	—	$	51,341,236
Short Term Investments
Repurchase Agreements		—		257,191		—		257,191
Total Investments	$	51,341,236	$	257,191	$	—	$	51,598,427

† See Note 2b in the Notes to Portfolios of Investments for additional information.

(a) See Portfolio of Investments for additional detailed categorizations.

SC PIMCO HIGH YIELD FUND

PORTFOLIO OF INVESTMENTS

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code*	Principal Amount (000)		Value
ASSET BACKED SECURITIES – 0.2%
Credit-Based Asset Servicing and Securitization LLC, Series 2007-CB1, Class AF1A 0.33%, 1/25/37(1)		$	24	$	10,691
Credit-Based Asset Servicing and Securitization LLC, Series 2007-CB1, Class AF2 5.81%, 1/25/37(2)			300		145,542
Lehman XS Trust, Series 2005-7N, Class 3A1 0.54%, 12/25/35(1)			309		151,609
SACO I Trust, Series 2005-2, Class A 0.46%, 4/25/35(1)(3)			20		7,873
Total Asset Backed Securities (Cost $203,450)					315,715
COLLATERALIZED MORTGAGE OBLIGATIONS – 3.3%
Adjustable Rate Mortgage Trust, Series 2005-7, Class 1A1 2.99%, 10/25/35(1)			56		36,076
Banc of America Alternative Loan Trust, Series 2005-4, Class CB6 0.66%, 5/25/35(1)			47		33,878
Banc of America Funding Corp., Series 2006-A, Class 3A2 5.65%, 2/20/36(1)			392		226,185
Banc of America Funding Corp., Series 2006-B, Class 2A1 5.50%, 3/20/36(1)			147		112,235
Countrywide Alternative Loan Trust, Series 2005-43, Class 4A3 5.59%, 10/25/35(1)			54		37,471
Countrywide Alternative Loan Trust, Series 2005-62, Class 2A1 1.37%, 12/25/35(1)			66		40,538
Countrywide Alternative Loan Trust, Series 2006-0A2, Class A5 0.49%, 5/20/46(1)			56		25,386
Countrywide Alternative Loan Trust, Series 2006-43 CB, Class A 0.63%, 2/25/37(1)			54		23,613

	Country Code*	Principal Amount (000)		Value
Countrywide Home Loan Mortgage Pass Through Trust, Series 2005-2, Class 2A1 0.58%, 3/25/35(1)		$	79	$	49,964
Countrywide Home Loan Mortgage Pass Through Trust, Series 2005-2, Class A1A 0.58%, 3/25/35(1)			46		27,330
Deutsche Alt-A Securities, Inc. Mortgage Loan Trust, Series 2005-6, Class 1A3 5.50%, 12/25/35			38		27,702
Downey Savings & Loan Association Mortgage Loan Trust, Series 2005-AR1, Class 2A1A 0.51%, 3/19/45(1)			19		12,939
First Horizon Alternative Mortgage Securities Trust, Series 2006-FA2, Class 1A5 6.00%, 5/25/36			41		32,953
Harborview Mortgage Loan Trust, Series 2006-1, Class 2A1A 0.50%, 3/19/36(1)			436		252,984
IndyMac IMSC Mortgage Loan Trust, Series 2007-F2, Class 1A2 6.00%, 7/25/37			281		190,068
IndyMac INDEX Mortgage Loan Trust, Series 2005-AR13, Class 4A1 2.61%, 8/25/35(1)			36		27,451
IndyMac INDEX Mortgage Loan Trust, Series 2005-AR15, Class A1 5.09%, 9/25/35(1)			53		40,335
JP Morgan Mortgage Trust, Series 2007-S3, Class 1A97 6.00%, 8/25/37			71		62,463
MortgageIT Trust, Series 2005-1, Class 1A1 0.58%, 2/25/35(1)			278		201,008
Residential Accredit Loans, Inc., Series 2006-Q010, Class A1 0.42%, 1/25/37(1)			611		352,632
Residential Accredit Loans, Inc., Series 2006-QA2, Class 3A1 5.50%, 2/25/36(1)			313		182,171

SC PIMCO HIGH YIELD FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code*	Principal Amount (000)		Value
Residential Asset Securitization Trust, Series 2006-R1, Class A2 0.66%, 1/25/46(1)		$	2,100	$	1,002,217
Residential Asset Securitization Trust, Series 2007-A5, Class 2A3 6.00%, 5/25/37			60		48,597
Structured Asset Mortgage Investments, Inc., Series 2005-AR6, Class 2A1 0.57%, 9/25/45(1)			30		19,918
Thornburg Mortgage Securities Trust, Series 2006-5, Class A1 0.38%, 10/25/46(1)			89		88,547
Wamu Mortgage Pass-Through Certificates, Series 2006-AR12, Class 1A2 5.69%, 10/25/36(1)			398		309,408
Wamu Mortgage Pass-Through Certificates, Series 2006-AR12, Class 2A3 5.69%, 10/25/36(1)			93		70,827
Wamu Mortgage Pass-Through Certificates, Series 2006-AR16, Class 1A1 5.43%, 12/25/36(1)			162		121,959
Wamu Mortgage Pass-Through Certificates, Series 2007-HY2, Class 1A1 5.42%, 12/25/36(1)			2,185		1,630,865
Total Collateralized Mortgage Obligations (Cost $4,223,813)					5,287,720
CORPORATE DEBT OBLIGATIONS – 84.4%
ADVERTISING – 0.8%
Lamar Media Corp. 7.88%, 4/15/18			250		262,500
Visant Corp. 7.63%, 10/1/12			600		601,200
10.00%, 10/1/17(3)			375		391,875
					1,255,575
AEROSPACE & DEFENSE – 0.5%
Alliant Techsystems, Inc. 6.88%, 9/15/20			250		254,062
BE Aerospace, Inc. 6.88%, 10/1/20			150		153,000
Esterline Technologies Corp. 7.00%, 8/1/20(3)			375		388,125
					795,187

	Country Code*	Principal Amount (000)		Value
AIRLINES – 2.2%
American Airlines Pass Through Trust, Series 2001-02 6.98%, 4/1/11		$	10	$	9,870
American Airlines, Inc. 10.50%, 10/15/12(3)			600		648,000
Continental Airlines, Inc. 7.75%, 7/2/14			290		296,143
Delta Air Lines, Inc. 7.11%, 9/18/11			700		731,500
9.50%, 9/15/14(3)			539		584,815
United Air Lines, Inc. 9.75%, 1/15/17			571		629,566
10.40%, 11/1/16			487		543,297
					3,443,191
AUTOMOBILES & COMPONENTS – 0.1%
Oshkosh Corp. 8.25%, 3/1/17			50		53,750
8.50%, 3/1/20			50		54,125
					107,875
AUTOMOTIVE – 4.0%
Allison Transmission, Inc. 11.00%, 11/1/15(3)			50		54,250
Arvinmeritor, Inc. 8.13%, 9/15/15			105		106,312
Cooper-Standard Automotive, Inc. 8.50%, 5/1/18(3)			375		389,062
Ford Motor Credit Co. LLC 3.28%, 1/13/12(1)			500		499,500
6.63%, 8/15/17			250		266,359
7.00%, 10/1/13			165		177,025
7.50%, 8/1/12			125		132,695
7.80%, 6/1/12			500		531,758
8.00%, 12/15/16			1,000		1,130,371
8.13%, 1/15/20			225		258,540
8.70%, 10/1/14			500		560,937
12.00%, 5/15/15			1,000		1,259,467
The Goodyear Tire & Rubber Co. 8.25%, 8/15/20			300		315,750
10.50%, 5/15/16			100		113,250
TRW Automotive, Inc. 7.00%, 3/15/14(3)			25		26,375
7.25%, 3/15/17(3)			500		531,250
					6,352,901
BANKS – 8.3%
Ally Financial, Inc. 6.63%, 5/15/12			1,275		1,312,606
6.88%, 8/28/12			400		416,650
8.00%, 3/15/20(3)			250		273,125
8.00%, 11/1/31			770		810,384
8.30%, 2/12/15(3)			250		272,500
BAC Capital Trust VI 5.63%, 3/8/35			100		94,002

SC PIMCO HIGH YIELD FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code*		Principal Amount (000)		Value
Bank of America Corp. 8.13%, 5/15/18(1)			$	100	$	103,154
Bank of America Corp. Capital Trust VII 5.25%, 8/10/35				650		803,849
Barclays Bank PLC 14.00%, 6/15/19(1)		GB		400		783,879
Capital One Capital V 10.25%, 8/15/39				600		649,500
Citigroup Capital XXI 8.30%, 12/21/57(1)				200		210,000
HBOS PLC 6.75%, 5/21/18(3)		GB		2,100		2,110,070
Intesa Sanpaolo SpA 8.05%, 6/20/18(1)		IT		400		545,300
NB Capital Trust IV 8.25%, 4/15/27				100		102,500
Rabobank Nederland Boerenleenbank BA 11.00%, 6/30/19(1)(3)		NL		600		780,000
RBS Capital Trust 6.47%, 6/30/12(1)				50		52,519
Regions Bank 7.50%, 5/15/18				175		184,385
Regions Financial Corp. 0.46%, 6/26/12(1)				200		191,030
7.38%, 12/10/37				1,000		917,213
Royal Bank of Scotland Group PLC 7.65%, 9/30/31(1)		GB		375		359,063
Societe Generale 5.92%, 4/5/17(1)(3)		FR		150		142,127
Wachovia Capital Trust III 5.80%, 3/15/11(1)				1,000		877,500
Wells Fargo & Co. 7.98%, 3/15/18(1)				300		315,750
Wells Fargo Capital XIII 7.70%, 3/26/13(1)				1,000		1,037,500
						13,344,606
BROKERAGE – 0.0%+
Lehman Brothers Holdings, Inc. 6.63%, 1/18/12(4)				25		5,531
6.88%, 5/2/18(4)				25		5,875
						11,406
BUILDING MATERIALS – 0.1%
Building Materials Corp. of America 7.50%, 3/15/20(3)				75		75,375
Texas Industries, Inc. 9.25%, 8/15/20(3)				125		129,688
						205,063
CHEMICALS – 2.8%
Celanese US Holdings LLC 6.63%, 10/15/18(3)				125		127,813
CF Industries, Inc. 6.88%, 5/1/18				250		269,062
7.13%, 5/1/20				125		136,719

	Country Code*		Principal Amount (000)		Value
Chemtura Corp. 7.88%, 9/1/18(3)			$	200	$	209,000
Ferro Corp. 7.88%, 8/15/18				100		103,750
Hexion US Finance Corp. 8.88%, 2/1/18				400		392,000
Huntsman International LLC 8.63%, 3/15/20				400		414,000
8.63%, 3/15/21(3)				100		103,500
Ineos Finance PLC 9.00%, 5/15/15(3)		GB		500		521,875
9.25%, 5/15/15(3)		GB		125		180,631
Lyondell Chemical Co. 8.00%, 11/1/17(3)				750		819,375
11.00%, 5/1/18				350		387,187
Oxea Finance 9.50%, 7/15/17(3)		LU		250		269,375
9.63%, 7/15/17(3)		LU		250		367,226
Vertellus Specialties, Inc. 9.38%, 10/1/15(3)				125		129,687
						4,431,200
COAL – 0.8%
Arch Coal, Inc. 7.25%, 10/1/20				100		105,625
CONSOL Energy, Inc. 8.00%, 4/1/17(3)				750		811,875
8.25%, 4/1/20(3)				250		273,125
Peabody Energy Corp. 6.50%, 9/15/20				100		107,625
						1,298,250
COMMERCIAL SERVICES – 0.8%
Corrections Corp. of America 7.75%, 6/1/17				250		268,750
Interactive Data Corp. 10.25%, 8/1/18(3)				250		267,500
Lender Processing Services, Inc. 8.13%, 7/1/16				155		167,012
Live Nation Entertainment, Inc. 8.13%, 5/15/18(3)				225		227,250
PHH Corp. 9.25%, 3/1/16(3)				100		104,000
Quintiles Transnational Corp. 9.50%, 12/30/14(3)(5)				300		308,250
						1,342,762
COMPUTER & PERIPHERALS – 1.6%
Aramark Corp. 3.97%, 2/1/15(1)				525		478,406
8.50%, 2/1/15				75		78,000
Brocade Communications Systems, Inc. 6.63%, 1/15/18				100		104,000
6.88%, 1/15/20				250		262,500
Seagate HDD Cayman 6.88%, 5/1/20(3)		KY		350		342,125

SC PIMCO HIGH YIELD FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code*		Principal Amount (000)		Value
SunGard Data Systems, Inc. 9.13%, 8/15/13			$	250	$	255,313
10.63%, 5/15/15				950		1,059,250
						2,579,594
CONSUMER PRODUCTS – 1.2%
Central Garden and Pet Co. 8.25%, 3/1/18				375		382,969
Diversey, Inc. 8.25%, 11/15/19				500		535,000
Jarden Corp. 7.50%, 5/1/17				500		517,500
Spectrum Brands Holdings, Inc. 9.50%, 6/15/18(3)				400		429,000
The Scotts Miracle-Gro Co. 7.25%, 1/15/18				50		52,687
						1,917,156
CONSUMER SERVICES – 0.3%
WMG Acquisition Corp. 9.50%, 6/15/16				500		535,000
CONTAINERS & GLASS – 1.4%
Ardagh Packaging Finance 7.38%, 10/15/17(3)(6)		IE		200		272,650
9.25%, 10/15/20(3)(6)		IE		100		136,325
Ball Corp. 6.75%, 9/15/20				125		132,500
Berry Plastics Corp. 5.28%, 2/15/15(1)				445		419,413
9.50%, 5/15/18				500		470,000
Crown Americas LLC 7.63%, 5/15/17				150		162,000
7.75%, 11/15/15				25		26,031
Crown European Holdings SA 7.13%, 8/15/18(3)		FR		50		71,571
Graham Packaging Co. LP 8.25%, 10/1/18(3)				75		76,219
Graphic Packaging International, Inc. 7.88%, 10/1/18				250		256,875
OI European Group B.V. 6.88%, 3/31/17		NL		50		70,889
Owens-Brockway Glass Container, Inc. 6.75%, 12/1/14				100		139,733
7.38%, 5/15/16				25		26,906
						2,261,112
ELECTRIC UTILITIES – 0.1%
CMS Energy Corp. 8.75%, 6/15/19				150		179,103
FINANCIALS – 5.4%
CIT Group, Inc. 7.00%, 5/1/13				390		392,287
7.00%, 5/1/14				511		509,227
7.00%, 5/1/15				661		655,549
7.00%, 5/1/16				1,000		984,841

	Country Code*		Principal Amount (000)		Value
7.00%, 5/1/17			$	141	$	138,179
FCE Bank PLC 7.13%, 1/15/13		GB		500		708,890
HSBC Finance Capital Trust IX 5.91%, 11/30/35(1)				100		93,375
International Lease Finance Corp. 6.63%, 11/15/13				100		100,250
6.75%, 9/1/16(3)				250		267,500
7.13%, 9/1/18(3)				500		538,750
8.63%, 9/15/15(3)				750		802,500
8.75%, 3/15/17(3)				475		509,438
Pinafore LLC 9.00%, 10/1/18(3)				250		262,500
Pinnacle Foods Finance LLC 8.25%, 9/1/17(3)				1,000		1,012,500
SLM Corp., Series A 0.73%, 10/25/11(1)				175		166,973
3.10%, 10/1/10(1)				350		350,000
5.00%, 10/1/13				100		97,998
5.13%, 8/27/12				100		101,093
8.00%, 3/25/20				150		148,849
8.45%, 6/15/18				360		363,623
UPCB Finance Ltd. 7.63%, 1/15/20(3)		KY		250		355,723
						8,560,045
FOOD, BEVERAGES & RESTAURANTS – 1.1%
American Stores Co. 7.90%, 5/1/17				100		96,750
Constellation Brands, Inc. 7.25%, 5/15/17				150		159,937
Cott Beverages USA, Inc. 8.13%, 9/1/18(3)				150		158,813
Michael Foods, Inc. 9.75%, 7/15/18(3)				500		535,000
Smithfield Foods, Inc. 7.75%, 7/1/17				500		506,875
TreeHouse Foods, Inc. 7.75%, 3/1/18				250		268,750
						1,726,125
GAMING – 1.0%
MGM Resorts International 9.00%, 3/15/20(3)				100		105,250
10.38%, 5/15/14				500		556,250
11.13%, 11/15/17				175		199,281
Wynn Las Vegas Capital Corp. 7.75%, 8/15/20(3)				175		184,625
7.88%, 11/1/17				500		536,250
						1,581,656
GAS & PIPELINE UTILITIES – 0.7%
Enterprise Products Operating LP 8.38%, 8/1/66(1)				750		782,813
Southern Natural Gas Co. 5.90%, 4/1/17(3)				25		27,441

SC PIMCO HIGH YIELD FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code*		Principal Amount (000)		Value
TransCanada PipeLines Ltd. 6.35%, 5/15/67(1)		CA	$	325	$	303,875
						1,114,129
HEALTH CARE – 5.2%
American Renal Holdings 8.38%, 5/15/18(3)				100		103,000
Capella Healthcare, Inc. 9.25%, 7/1/17(3)				250		267,500
Community Health Systems, Inc. 8.88%, 7/15/15				1,500		1,593,750
DaVita, Inc. 7.25%, 3/15/15				500		519,063
HCA, Inc. 7.25%, 9/15/20				400		428,000
8.50%, 4/15/19				150		167,250
9.13%, 11/15/14				175		184,406
9.25%, 11/15/16				2,125		2,300,312
9.63%, 11/15/16(5)				1,140		1,236,900
9.88%, 2/15/17				125		138,125
LifePoint Hospitals, Inc. 6.63%, 10/1/20(3)				350		357,000
Radiation Therapy Services, Inc. 9.88%, 4/15/17(3)				250		246,875
Tenet Healthcare Corp. 8.00%, 8/1/20(3)				150		149,625
United Surgical Partners International, Inc. 8.88%, 5/1/17				225		230,063
Vanguard Health Holding Co. II LLC 8.00%, 2/1/18				200		203,000
8.00%, 2/1/18(3)				200		200,000
						8,324,869
HEALTH CARE - FACILITIES – 2.1%
Alere, Inc. 8.63%, 10/1/18(3)				275		279,125
Biomet, Inc. 10.00%, 10/15/17				650		717,437
10.38%, 10/15/17(5)				1,825		2,025,750
11.63%, 10/15/17				320		356,400
						3,378,712
HOLDING COMPANIES – 0.8%
Reynolds Group Issuer, Inc. 7.75%, 10/15/16(3)				500		508,750
8.50%, 5/15/18(3)				850		830,875
						1,339,625
HOTELS, RESTAURANTS & LEISURE – 0.1%
Marina District Finance Co., Inc. 9.50%, 10/15/15(3)				50		48,500
9.88%, 8/15/18(3)				50		48,250
Scientific Games Corp. 8.13%, 9/15/18(3)				100		102,000
						198,750

	Country Code*		Principal Amount (000)		Value
INSURANCE – 2.6%
American International Group, Inc. 0.39%, 3/20/12(1)			$	40	$	38,750
4.00%, 9/20/11				500		681,374
5.45%, 5/18/17				425		432,438
5.95%, 10/4/10				150		235,635
6.25%, 5/1/36				2,300		2,231,000
8.18%, 5/15/38(1)				250		250,000
8.25%, 8/15/18				200		233,000
						4,102,197
INTERNET & CATALOG RETAIL – 0.1%
Equinix, Inc. 8.13%, 3/1/18				100		106,750
LEISURE & ENTERTAINMENT – 1.2%
Harrah’s Operating Co., Inc. 10.00%, 12/15/18				70		55,913
11.25%, 6/1/17				500		547,500
Las Vegas Sands Corp. 6.38%, 2/15/15				250		252,187
Starwood Hotels & Resorts Worldwide, Inc. 6.75%, 5/15/18				200		215,000
Travelport LLC 9.88%, 9/1/14				500		514,375
11.88%, 9/1/16				350		374,500
						1,959,475
MACHINERY – 0.2%
Case New Holland, Inc. 7.88%, 12/1/17(3)				350		380,188
MANUFACTURING DIVERSIFIED – 1.0%
Actuant Corp. 6.88%, 6/15/17				15		15,300
Amsted Industries, Inc. 8.13%, 3/15/18(3)				250		260,313
Bombardier, Inc. 7.50%, 3/15/18(3)		CA		275		295,625
RBS Global, Inc. 8.50%, 5/1/18				750		762,187
SPX Corp. 6.88%, 9/1/17(3)				200		212,000
						1,545,425
METALS & MINING – 1.3%
Alcoa, Inc. 5.95%, 2/1/37				250		230,099
Freeport-McMoRan Copper & Gold, Inc. 8.38%, 4/1/17				775		865,094
Novelis, Inc. 7.25%, 2/15/15		CA		550		559,625
Steel Dynamics, Inc. 7.63%, 3/15/20(3)				25		25,938
7.75%, 4/15/16				50		52,000

SC PIMCO HIGH YIELD FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code*	Principal Amount (000)		Value
Teck Resources, Ltd. 9.75%, 5/15/14	CA	$	121	$	149,183
10.25%, 5/15/16	CA		129		156,735
					2,038,674
MULTIMEDIA – 5.4%
Cablevision Systems Corp. 7.75%, 4/15/18			250		264,375
CCO Holdings LLC 7.88%, 4/30/18(3)			250		259,375
8.13%, 4/30/20(3)			200		212,000
Clear Channel Worldwide Holdings, Inc. Series B 9.25%, 12/15/17			750		800,625
CSC Holdings LLC 7.63%, 7/15/18			210		226,275
7.88%, 2/15/18			865		943,931
8.50%, 6/15/15			475		518,937
8.63%, 2/15/19			325		365,625
DISH DBS Corp. 6.63%, 10/1/14			25		26,125
7.00%, 10/1/13			200		212,250
7.13%, 2/1/16			935		982,919
7.75%, 5/31/15			75		79,969
7.88%, 9/1/19			100		107,625
Insight Communications Co., Inc. 9.38%, 7/15/18(3)			300		318,750
LIN Television Corp. 8.38%, 4/15/18(3)			250		264,062
LIN Television Corp., Series B 6.50%, 5/15/13			250		248,125
Nielsen Finance LLC 0.00%, 8/1/16(2)			250		250,312
7.75%, 10/15/18(3)(6)			250		248,168
11.50%, 5/1/16			250		283,750
Quebecor Media, Inc. 7.75%, 3/15/16	CA		55		56,719
The McClatchy Co. 11.50%, 2/15/17			150		159,563
UPC Holding BV 8.00%, 11/1/16	NL		250		351,037
8.38%, 8/15/20(3)	NL		500		685,033
9.75%, 4/15/18(3)	NL		100		146,038
Videotron Ltee 9.13%, 4/15/18	CA		600		675,000
					8,686,588
OIL & GAS – EXPLORATION & PRODUCTION – 2.5%
Anadarko Petroleum Corp. 6.45%, 9/15/36			250		250,301
Coffeyville Resources LLC 9.00%, 4/1/15(3)			50		52,750
Continental Resources, Inc. 7.13%, 4/1/21(3)			75		78,000
7.38%, 10/1/20(3)			50		52,750
8.25%, 10/1/19			50		54,750
Denbury Resources, Inc. 8.25%, 2/15/20			149		162,596

	Country Code*		Principal Amount (000)		Value
9.75%, 3/1/16			$	250	$	280,625
Forest Oil Corp. 7.25%, 6/15/19				100		102,250
8.50%, 2/15/14				250		273,125
Harvest Operations Corp. 6.88%, 10/1/17(3)(6)		CA		150		153,375
Linn Energy LLC 8.63%, 4/15/20(3)				425		450,500
Newfield Exploration Co. 6.88%, 2/1/20				250		265,625
7.13%, 5/15/18				330		352,275
Penn Virginia Corp. 10.38%, 6/15/16				150		164,250
Petrohawk Energy Corp. 7.25%, 8/15/18(3)				300		306,000
10.50%, 8/1/14				250		283,125
Plains Exploration & Production Co. 7.00%, 3/15/17				250		256,250
7.63%, 4/1/20				325		340,844
QEP Resources, Inc. 6.88%, 3/1/21				100		108,250
						3,987,641
OIL & GAS EQUIPMENT & SERVICES – 0.9%
Amerigas Partners LP 7.13%, 5/20/16				460		479,550
7.25%, 5/20/15				50		51,750
Cie Generale De Geophysique-Veritas 7.50%, 5/15/15		FR		735		747,862
7.75%, 5/15/17		FR		175		178,938
						1,458,100
PAPER PRODUCTS – 1.3%
Georgia-Pacific LLC 7.13%, 1/15/17(3)				650		688,187
7.25%, 6/1/28				10		10,275
7.70%, 6/15/15				815		902,612
8.00%, 1/15/24				115		129,088
8.25%, 5/1/16(3)				50		55,563
8.88%, 5/15/31				200		228,000
						2,013,725
PHARMACEUTICALS – 1.6%
Mylan, Inc. 7.63%, 7/15/17(3)				200		212,750
7.88%, 7/15/20(3)				500		535,625
NBTY, Inc. 9.00%, 10/1/18(3)(6)				150		157,500
Novasep Holding SAS 9.75%, 12/15/16(3)		FR		200		154,000
Valeant Pharmaceuticals International 6.75%, 10/1/17(3)				100		102,000
7.00%, 10/1/20(3)				500		511,250
7.63%, 3/15/20(3)				150		190,500
Warner Chilcott Co., LLC 7.75%, 9/15/18(3)		IE		750		770,625
						2,634,250

SC PIMCO HIGH YIELD FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code*		Principal Amount (000)		Value
PIPELINES – 2.2%
Dynegy Holdings Pass Through Trust, Series A 7.27%, 11/8/10			$	26	$	25,510
Dynegy Holdings Pass Through Trust, Series B 7.67%, 11/8/16				200		185,500
El Paso Corp. 7.80%, 8/1/31				200		207,574
8.05%, 10/15/30				1,010		1,052,299
8.25%, 2/15/16				300		333,750
El Paso Pipeline Partners Operating Co. LP 6.50%, 4/1/20				125		134,940
Energy Transfer Equity LP 7.50%, 10/15/20				350		368,375
Kinder Morgan Finance Co. 5.70%, 1/5/16		CA		320		330,000
Kinder Morgan, Inc. 5.15%, 3/1/15				850		850,000
						3,487,948
REAL ESTATE INVESTMENT TRUSTS – 0.2%
Ventas Realty LP 6.50%, 6/1/16				375		391,372
REFINING – 2.7%
Berry Petroleum Co. 10.25%, 6/1/14				325		366,437
Chesapeake Energy Corp. 7.25%, 12/15/18				150		161,625
7.63%, 7/15/13				25		27,250
9.50%, 2/15/15				2,000		2,315,000
Opti Canada, Inc. 7.88%, 12/15/14		CA		125		94,063
8.25%, 12/15/14		CA		290		220,400
Range Resources Corp. 6.75%, 8/1/20				150		156,000
7.25%, 5/1/18				25		26,250
7.50%, 10/1/17				125		133,125
Sandridge Energy, Inc. 8.63%, 4/1/15(5)				750		750,000
						4,250,150
RESTAURANTS – 0.1%
NPC International, Inc. 9.50%, 5/1/14				165		168,300
RETAIL – 2.0%
Ferrellgas Partners LP 6.75%, 5/1/14				100		101,751
Inergy LP 7.00%, 10/1/18(3)				150		153,750
J.C. Penney Co., Inc. 7.13%, 11/15/23				50		52,250
7.95%, 4/1/17				225		252,562
Limited Brands, Inc. 7.00%, 5/1/20				75		81,000
New Albertsons, Inc.

	Country Code*		Principal Amount (000)		Value
7.45%, 8/1/29			$	375	$	303,750
8.70%, 5/1/30				250		220,000
Phillips-Van Heusen Corp. 7.38%, 5/15/20				250		263,437
QVC, Inc. 7.13%, 4/15/17(3)				150		155,250
7.38%, 10/15/20(3)				50		51,750
7.50%, 10/1/19(3)				250		261,250
Roadhouse Financing, Inc. 10.75%, 10/15/17(3)(6)				175		178,937
Sally Holdings LLC 9.25%, 11/15/14				500		526,250
Suburban Propane Partners LP 7.38%, 3/15/20				50		53,125
SUPERVALU, Inc. 7.50%, 11/15/14				520		522,600
8.00%, 5/1/16				50		50,375
						3,228,037
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT – 0.3%
Sensata Technologies BV 8.00%, 5/1/14		NL		414		428,490
SOFTWARE – 0.3%
Fidelity National Information Services, Inc. 7.63%, 7/15/17(3)				100		106,750
First Data Corp. 9.88%, 9/24/15				155		126,713
ManTech International Corp. 7.25%, 4/15/18				175		181,562
						415,025
SPECIAL PURPOSE ENTITIES – 1.1%
Conti-Gummi Finance BV 7.13%, 10/15/18(3)(6)		NL		175		234,990
7.50%, 9/15/17(3)		NL		100		138,711
8.50%, 7/15/15(3)		NL		75		110,064
El Paso Performance-Linked Trust 7.75%, 7/15/11(3)				250		258,820
NSG Holdings LLC 7.75%, 12/15/25(3)				490		445,900
Universal City Development Partners Ltd. 8.88%, 11/15/15				200		206,250
Ziggo Bond Co. BV 8.00%, 5/15/18(3)		NL		250		358,705
						1,753,440
TELECOMMUNICATIONS – 9.8%
Angel Lux Common SA 8.88%, 5/1/16(3)		LU		625		664,062
Crown Castle International Corp. 7.13%, 11/1/19				250		266,250
7.75%, 5/1/17(3)				175		193,375
Digicel Ltd. 8.25%, 9/1/17(3)		BM		750		787,500

SC PIMCO HIGH YIELD FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code*		Principal Amount (000)		Value
Frontier Communications Corp. 6.63%, 3/15/15			$	25	$	25,813
7.13%, 3/15/19				550		563,750
7.45%, 7/1/35				100		87,000
7.88%, 4/15/15				125		135,000
8.25%, 5/1/14				125		137,344
8.25%, 4/15/17				200		218,750
8.50%, 4/15/20				250		275,937
9.00%, 8/15/31				90		95,963
Intelsat Corp. 9.25%, 8/15/14				225		232,875
9.25%, 6/15/16				150		159,937
Intelsat Jackson Holdings SA 7.25%, 10/15/20(3)		LU		500		502,500
8.50%, 11/1/19(3)		LU		825		895,125
9.50%, 6/15/16		LU		25		26,656
Intelsat Luxembourg SA 11.50%, 2/4/17(5)		LU		372		397,555
Intelsat Subsidiary Holding Co., Ltd. 8.88%, 1/15/15		BM		50		51,750
MetroPCS Wireless, Inc. 9.25%, 11/1/14				395		413,763
Qwest Capital Funding, Inc. 8.88%, 3/15/12				150		164,625
Qwest Communications International, Inc. 7.13%, 4/1/18(3)				250		262,500
7.50%, 2/15/14				1,525		1,555,500
8.00%, 10/1/15				100		108,250
Qwest Corp. 7.50%, 6/15/23				250		251,250
8.38%, 5/1/16				250		295,625
Sprint Capital Corp. 6.90%, 5/1/19				1,500		1,507,500
7.63%, 1/30/11				75		76,219
8.38%, 3/15/12				75		80,250
8.75%, 3/15/32				400		420,000
Sprint Nextel Corp. 6.00%, 12/1/16				145		143,187
8.38%, 8/15/17				700		759,500
Telesat Canada LLC 11.00%, 11/1/15		CA		575		649,750
TW Telecom Holdings, Inc. 8.00%, 3/1/18				100		104,750
Virgin Media Finance PLC 9.50%, 8/15/16		GB		175		197,750
Virgin Media Secured Finance PLC 6.50%, 1/15/18		GB		350		369,250
West Corp. 9.50%, 10/15/14				110		115,088
Wind Acquisition Finance SA 11.00%, 12/1/15		LU		50		71,741
11.75%, 7/15/17(3)		LU		750		840,469
12.00%, 12/1/15(3)		LU		300		317,625
Windstream Corp. 7.88%, 11/1/17				200		208,500
8.63%, 8/1/16				995		1,052,212
						15,682,446

	Country Code*		Principal Amount (000)		Value
TEXTILES & APPAREL – 0.1%
Levi Strauss & Co. 7.63%, 5/15/20			$	225	$	233,438
TRANSPORTATION – 0.1%
Kansas City Southern 8.00%, 6/1/15				75		80,719
UTILITIES – 5.8%
AES Red Oak LLC, Series A 8.54%, 11/30/19				800		821,803
Calpine Corp. 7.88%, 7/31/20(3)				275		282,563
Energy Future Holdings Corp. 9.75%, 10/15/19				39		37,940
10.00%, 1/15/20(3)				250		248,190
Energy Future Intermediate Holding Co. LLC 9.75%, 10/15/19				47		45,722
FPL Group Capital, Inc., Series B 6.35%, 10/1/16(1)				50		47,500
Intergen NV 9.00%, 6/30/17(3)		NL		1,000		1,057,500
Ipalco Enterprises, Inc. 7.25%, 4/1/16(3)				40		43,000
Midwest Generation LLC, Series B 8.56%, 1/2/16				486		480,463
NRG Energy, Inc. 7.38%, 2/1/16				275		282,906
7.38%, 1/15/17				815		835,375
8.50%, 6/15/19				1,050		1,106,438
NV Energy, Inc. 7.80%, 6/15/12				25		25,505
Quicksilver Resources, Inc. 9.13%, 8/15/19				575		630,344
11.75%, 1/1/16				300		351,750
Reliant Energy Mid-Atlantic Power Holdings LLC, Series C 9.68%, 7/2/26				100		104,250
RRI Energy, Inc. 7.63%, 6/15/14				500		495,000
7.88%, 6/15/17				150		139,875
Sithe Independence Funding Corp., Series A 9.00%, 12/30/13				63		65,086
Tenaska Alabama Partners LP 7.00%, 6/30/21(3)				323		328,158
The AES Corp. 7.75%, 10/15/15				175		187,250
8.00%, 10/15/17				245		264,600
8.00%, 6/1/20				1,095		1,188,075
9.75%, 4/15/16				175		201,250
						9,270,543

SC PIMCO HIGH YIELD FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code*		Principal Amount (000)		Value
WHOLESALE – 0.2%
American Tire Distributors Holdings, Inc. 9.75%, 6/1/17(3)			$	200	$	213,000
McJunkin Red Man Corp. 9.50%, 12/15/16(3)				200		176,000
						389,000
Total Corporate Debt Obligations (Cost $121,487,608)						134,975,813
FOREIGN GOVERNMENT OBLIGATIONS – 1.3%
Brazil Notas do Tesouro Nacional, Series F 10.00%, 1/1/12		BR		501		290,700
10.00%, 1/1/17		BR		3,400		1,858,184
Total Foreign Government Obligations (Cost $1,819,678)						2,148,884
LOAN ASSIGNMENTS – 2.2%
SENIOR LOANS – 2.2%
American General Finance Corp. 7.25%, 4/8/15(1)				500		502,155
Energy Future Competitive Holdings Co. 3.76%, 10/10/14(1)				1,959		1,515,786
3.79%, 10/10/14(1)				10		7,834
First Data Corp. 3.01%, 9/24/14(1)				452		397,374
3.01%, 9/24/14(1)				21		18,758
Newsday LLC 10.50%, 8/1/13(1)				200		212,376
Texas Competitive Electric Holdings Co. LLC 3.76%, 10/10/14(1)				494		380,187
3.79%, 10/10/14(1)				3		1,925
Vodafone 6.88%, 8/11/15(1)				500		500,000
Total Loan Assignments (Cost $3,157,111)						3,536,395
			Shares
COMMON STOCKS – 0.1%
MULTIMEDIA – 0.1%
Dex One Corp.**				9,862		121,106
PIPELINES – 0.0%+
SemGroup Corp., Class A**				77		1,790
Total Common Stocks (Cost $307,692)						122,896
CONVERTIBLE PREFERRED STOCKS – 0.4%
BANKS – 0.4%
Wells Fargo & Co., Series L 7.50%, 12/31/49 (Cost $384,735)				625		628,750

	Country Code*	Shares		Value
PREFERRED STOCKS – 0.0%+
BANKS – 0.0%+
Citigroup Capital XIII 7.88%, 10/30/15 (Cost $37,500)			1,500	$	38,850
WARRANTS – 0.0%+
PIPELINES – 0.0%+
SemGroup Corp., expires 11/30/14** (Cost $81)			81		430
		Principal Amount (000)
SHORT TERM INVESTMENTS – 7.1%
U.S. TREASURY AND U.S. GOVERNMENT AGENCY OBLIGATIONS(7) – 6.1%
Federal Home Loan Mortgage Corp. Discount Notes 0.01%, 10/6/10		$	200		199,993
0.23%, 10/5/10			300		299,992
U.S. Treasury Bills 0.01%, 10/7/10			4,800		4,799,927
0.01%, 10/14/10			1,567		1,566,939
0.01%, 10/21/10(8)			2,911		2,910,802
Total U.S. Treasury and U.S. Government Agency Obligations (Amortized cost $9,777,653)					9,777,653
		Shares
MUTUAL FUNDS – 1.0%
State Street Institutional U.S. Government Money Market Fund (Cost $1,484,881)			1,484,881		1,484,881
Total Short Term Investments (Cost $11,262,534)					11,262,534
TOTAL INVESTMENTS – 99.0% (Cost $142,884,202)					158,317,987
Other assets less liabilities – 1.0%					1,543,155
NET ASSETS – 100.0%				$	159,861,142

BM Bermuda

BR Brazil

CA Canada

FR France

GB Great Britain

IE Ireland

IT Italy

KY Cayman Islands

LU Luxembourg

NL Netherlands

SC PIMCO HIGH YIELD FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

* Unless otherwise noted the issuer country code for all securities is United States.

** Non-income producing security.

+ Amount is less than 0.05%.

(1) Variable rate security. The interest rate shown reflects the rate in effect at the period end.

(2) Security is a “Step-up” bond where the coupon increases on a predetermined future date.

(3) Eligible for resale under rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the period end, the value of these securities amounted to $37,799,731, representing 23.6% of net assets.

(4) Security is in default and is non-income producing.

(5) Payment in-kind bond security.

(6) Security (or a portion thereof) has been purchased on a delayed delivery or when-issued basis.

(7) Interest rates represent annualized yield at date of purchase.

SC PIMCO HIGH YIELD FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

(8) At the period end, securities (or portions thereof) with an aggregate market value of $112,992 have been pledged to cover margin requirements for the following open futures contracts:

Type	Description	Expiration Date		Contracts		Aggregate Face Value ($)		Aggregate Notional Value ($)		Unrealized Appreciation ($)
Long	90-Day Eurodollar December Futures		12/13/10		53		12,980,900		13,202,300		221,400
Long	90-Day Eurodollar March Futures		3/14/11		53		12,959,162		13,195,675		236,513
Net unrealized appreciation											457,913

(9) At the period end, open forward currency exchange contracts were as follows:

Counterparty	Contracts to Deliver			In Exchange For			Settlement Date		Unrealized Appreciation / (Depreciation) ($)
Barclays Bank PLC		EUR	2,984,000		USD	3,825,488		10/26/10		(241,752	)
Barclays Bank PLC		USD	2,000		CNY	13,259		11/23/10		(17	)
Barclays Bank PLC		USD	2,000		CNY	13,278		11/23/10		(14	)
Barclays Bank PLC		EUR	99,000		USD	125,788		11/23/10		(9,120	)
Barclays Bank PLC		USD	365,500		EUR	281,000		11/23/10		17,419
Citibank NA		USD	180,916		EUR	133,000		11/23/10		323
Citibank NA		USD	267,866		GBP	171,000		12/20/10		610
Citibank NA		USD	6,000		CNY	39,801		11/17/10		(49	)
Citibank NA		USD	4,760		CNY	32,000		1/10/11		31
Deutsche Bank AG (London)		USD	2,000		CNY	13,276		11/17/10		(15	)
Deutsche Bank AG (London)		USD	6,000		CNY	39,798		11/17/10		(50	)
Deutsche Bank AG (London)		USD	6,000		CNY	39,708		11/17/10		(63	)
Deutsche Bank AG (London)		USD	3,744		CNY	24,775		11/17/10		(39	)
Deutsche Bank AG (London)		USD	10,745		CNY	72,174		1/10/11		63
Deutsche Bank AG (London)		EUR	790,000		USD	1,011,698		11/23/10		(64,836	)
JPMorgan Securities		BRL	3,252,193		USD	1,810,294		10/4/10		(111,806	)
JPMorgan Securities		EUR	50,000		USD	64,937		10/26/10		(3,214	)
Morgan Stanley Capital Services, Inc.		USD	3,000		CNY	19,848		11/17/10		(32	)
Morgan Stanley Capital Services, Inc.		USD	3,000		CNY	19,854		11/17/10		(32	)
Morgan Stanley Capital Services, Inc.		USD	10,000		CNY	66,410		1/10/11		(56	)
Morgan Stanley Capital Services, Inc.		BRL	3,252,193		USD	1,804,769		12/2/10		(95,224	)
Morgan Stanley Capital Services, Inc.		USD	1,827,075		BRL	3,252,193		10/4/10		95,025
UBS AG		GBP	1,063,000		USD	1,655,957		12/20/10		(12,989	)
Net unrealized depreciation										(425,837	)

BRL - Brazilian Real

CNY - Yuan Renminbi

EUR - Euro

GBP - Great British Pound

USD - United States Dollar

(10) At the period end, open swap contracts were as follows:

Credit Default Swap Contracts on Corporate Issues - Sell Protection (a)

Counterparty	Reference Entity	(Pay)/ Receive Fixed Rate			Expiration Date		Implied Credit Spread (b)			Notional Amount (c) (000) ($)		Market Value ($)		Upfront Premiums Paid / (Received) ($)			Unrealized Appreciation / (Depreciation) ($)
Bank of America NA	American International Group, Inc.		5.00	%		9/20/11		0.94	%		200		7,946		(46,000	)		53,946

SC PIMCO HIGH YIELD FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

(Continued)

Counterparty	Reference Entity	(Pay)/ Receive Fixed Rate			Expiration Date		Implied Credit Spread (b)			Notional Amount (c) (000) ($)		Market Value ($)			Upfront Premiums Paid / (Received) ($)			Unrealized Appreciation / (Depreciation) ($)
Bank of America NA	American International Group, Inc.		5.00	%		9/20/11		0.94	%		200		7,946			(48,000	)		55,946
Bank of America NA	SLM Corp.		5.00	%		12/20/10		2.72	%		100		517			(8,250	)		8,767
Bank of America NA	SLM Corp.		5.00	%		12/20/10		2.72	%		200		1,034			(20,500	)		21,534
Barclays Bank PLC	SLM Corp.		5.00	%		12/20/13		4.58	%		50		608			(5,500	)		6,108
Citibank NA	Dynegy Holdings, Inc.		5.00	%		9/20/14		9.75	%		100		(15,019	)		(14,000	)		(1,019	)
Deutsche Bank AG	Ally Financial, Inc.		5.00	%		3/20/12		2.55	%		60		2,114			(9,300	)		11,414
Deutsche Bank AG	RRI Energy, Inc.		5.00	%		9/20/14		7.52	%		300		(23,568	)		(43,500	)		19,932
Deutsche Bank AG	RRI Energy, Inc.		5.00	%		9/20/14		7.52	%		300		(23,568	)		(43,500	)		19,932
Deutsche Bank AG	SLM Corp.		5.00	%		6/20/12		3.41	%		100		2,652			(13,000	)		15,652
Goldman Sachs International	Dynegy Holdings, Inc.		5.00	%		9/20/14		9.75	%		100		(15,019	)		(22,000	)		6,981
Goldman Sachs International	El Paso Corp.		5.00	%		9/20/14		2.58	%		500		44,905			(47,500	)		92,405
Total											2,210		(9,452	)		(321,050	)		311,598

(a) If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will pay to the buyer of the protection an amount up to the notional amount of the swap and in certain instances, take delivery of the security. As a buyer of protection, the Fund will generally receive from the seller of protection an amount up to the notional amount of the swap if a credit event occurs.

(b) Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues as of period end serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of that particular agreement.

(c) The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.

SC PIMCO HIGH YIELD FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

(11) Fair Value Measurements †

The following table summarizes the inputs used to value the Fund’s assets and liabilities, as applicable, measured at fair value at the period end:

Assets	Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)		Total
Asset Backed Securities	$	—	$	315,715		$	—	$	315,715
Collateralized Mortgage Obligations		—		5,287,720			—		5,287,720
Corporate Debt Obligations (a)		—		134,975,813			—		134,975,813
Foreign Government Obligations		—		2,148,884			—		2,148,884
Loan Assignments		—		3,536,395			—		3,536,395
Common Stocks (a)		122,896		—			—		122,896
Convertible Preferred Stocks (a)		628,750		—			—		628,750
Preferred Stocks (a)		38,850		—			—		38,850
Warrants (a)		—		430			—		430
Short Term Investments
U.S. Treasury and U.S. Government Agency Obligations		—		9,777,653			—		9,777,653
Mutual Funds		1,484,881		—			—		1,484,881
Total Short Term Investments		1,484,881		9,777,653			—		11,262,534
Total Investments		2,275,377		156,042,610			—		158,317,987
Financial Derivative Instruments
Forward Foreign Currency Exchange Contracts		—		113,471			—		113,471
Futures Contracts		457,913		—			—		457,913
Swap Contracts		—		312,617			—		312,617
Total Financial Derivative Instruments	$	457,913	$	426,088		$	—	$	884,001
Liabilities
Financial Derivative Instruments
Forward Foreign Currency Exchange Contracts	$	—	$	(539,308	)	$	—	$	(539,308	)
Swap Contracts		—		(1,019	)		—		(1,019	)
Total Financial Derivative Instruments	$	—	$	(540,327	)	$	—	$	(540,327	)

† See Note 2b in the Notes to Portfolios of Investments for additional information.

(a) See Portfolio of Investments for additional detailed categorizations.

SC PIMCO TOTAL RETURN FUND

PORTFOLIO OF INVESTMENTS

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code*		Principal Amount (000)		Value
ASSET BACKED SECURITIES – 0.6%
Bear Stearns Asset Backed Securities Trust, Series 2006-SD3 5.50%, 8/25/36			$	2,039	$	1,157,547
Countrywide Asset-Backed Certificates, Series 2006-2, Class 2A2 0.45%, 6/25/36(1)				243		210,181
Ford Credit Auto Owner Trust, Series 2008-C, Class A3 1.68%, 6/15/12(1)				516		517,942
Ford Credit Auto Owner Trust, Series 2009-D, Class A2 1.21%, 1/15/12				138		138,201
Structured Asset Securities Corp., Series 2007-WF1, Class A2 0.35%, 2/25/37(1)				2,225		2,199,657
Total Asset Backed Securities (Cost $3,721,236)						4,223,528
COLLATERALIZED MORTGAGE OBLIGATIONS – 2.9%
Arkle Master Issuer PLC, Series 2006-1A, Class 4A2 0.46%, 2/17/52(1)(2)				9,000		8,887,176
Arran Residential Mortgages Funding PLC, Series 2010-1A, Class A2B 2.22%, 5/16/47(1)(2)		GB		1,000		1,361,417
Bear Stearns Alt-A Trust, Series 2005-4 2.85%, 5/25/35(1)				169		131,869
Bear Stearns Alt-A Trust, Series 2006-1 5.35%, 2/25/36(1)				184		93,697
Countrywide Home Loan Mortgage Pass Through Trust, Series 2005-29, Class A1 5.75%, 12/25/35				2,167		1,977,090
Federal National Mortgage Association, Series 2005-75, Class FL 0.71%, 9/25/35(1)				842		840,988
Federal National Mortgage Association, Series 2007-30, Class AF 0.57%, 4/25/37(1)				447		445,958
First Horizon Asset Securities, Inc., Series 2005-AR4, Class 2A1 3.05%, 10/25/35(1)				689		553,641

	Country Code*		Principal Amount (000)		Value
First Horizon Asset Securities, Inc., Series 2005-AR6, Class 4A1 5.72%, 2/25/36(1)			$	659	$	616,014
Harborview Mortgage Loan Trust, Series 2005-4 3.05%, 7/19/35(1)				444		351,711
JP Morgan Mortgage Trust, Series 2005-S3, Class 1A2 5.75%, 1/25/36				100		90,699
JP Morgan Mortgage Trust, Series 2007-A1 3.28%, 7/25/35(1)				606		475,137
Master Adjustable Rate Mortgage Trust, Series 2005-6, Class 5A2 2.56%, 7/25/35(1)				1,362		1,057,995
MLCC Mortgage Investors, Inc., Series 2005-1, Class 2A5 2.37%, 4/25/35(1)				1,200		1,110,878
Nomura Asset Acceptance Corp., Series 2005-AP2, Class A5 4.98%, 5/25/35(3)				356		240,128
Wachovia Mortgage Loan Trust LLC, Series 2005-B, Class 2A4 3.80%, 10/20/35(1)				2,800		2,336,606
Total Collateralized Mortgage Obligations (Cost $19,719,137)						20,571,004
COMMERCIAL MORTGAGE BACKED SECURITIES – 1.3%
Citigroup/Deutsche Bank Commercial Mortgage Trust, Series 2007-CD5, Class A4 5.89%, 11/15/44(1)				5,000		5,404,431
JP Morgan Chase Commercial Mortgage Securities Corp., Series 2003-CB7, Class A4 4.88%, 1/12/38(1)				2,800		3,001,946
Morgan Stanley Capital I, Series 2004-IQ8, Class A5 5.11%, 6/15/40(1)				600		642,059
Total Commercial Mortgage Backed Securities (Cost $7,151,578)						9,048,436
CONVERTIBLE BONDS – 0.4%
OIL & GAS - EXPLORATION & PRODUCTION – 0.4%
Transocean, Inc., Series B 1.50%, 12/15/37 (Cost $2,695,407)		CH		2,900		2,838,375

SC PIMCO TOTAL RETURN FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code*	Principal Amount (000)		Value
CORPORATE DEBT OBLIGATIONS – 25.0%
AGRICULTURAL – 0.1%
Altria Group, Inc. 4.13%, 9/11/15		$	500	$	536,225
BAT International Finance PLC 9.50%, 11/15/18(2)	GB		160		217,545
					753,770
AUTOMOTIVE – 0.9%
Ford Motor Credit Co. LLC 5.63%, 9/15/15			3,400		3,496,285
7.38%, 2/1/11			1,000		1,018,523
7.80%, 6/1/12			2,000		2,127,032
					6,641,840
BANKS – 12.0%
Ally Financial, Inc. 5.38%, 6/6/11			2,800		2,828,000
6.00%, 4/1/11			200		200,720
6.88%, 9/15/11			400		410,206
7.50%, 9/15/20(2)			300		319,500
American Express Bank, FSB 5.50%, 4/16/13			400		435,384
Banco Santander Chile 1.77%, 4/20/12(1)(2)	CL		900		899,602
Bank of America Corp. 5.65%, 5/1/18			1,900		2,013,060
5.75%, 12/1/17			300		320,746
6.00%, 9/1/17			1,100		1,190,988
Bank of China Hong Kong Ltd. 5.55%, 2/11/20(2)	HK		100		105,613
Bank of Montreal 2.85%, 6/9/15(2)	CA		300		315,764
Barclays Bank PLC 5.00%, 9/22/16	GB		1,500		1,641,192
6.05%, 12/4/17(2)	GB		500		542,242
Barnett Capital III 1.09%, 2/1/27(1)			200		139,193
BBVA Bancomer SA Texas 7.25%, 4/22/20(2)	MX		1,100		1,181,666
Bear Stearns Cos., LLC 5.30%, 10/30/15			100		111,560
BNP Paribas 7.20%, 6/25/37(1)(2)	FR		100		99,000
7.78%, 7/2/18(1)	FR		100		143,209
Citigroup Capital XXI 8.30%, 12/21/37(1)			1,600		1,680,000
Citigroup, Inc. 3.63%, 11/30/17(1)			800		1,045,027
5.50%, 4/11/13			700		750,990
5.50%, 10/15/14			400		434,028
6.13%, 11/21/17			200		218,470
8.50%, 5/22/19			200		247,268

	Country Code*	Principal Amount (000)		Value
Commonwealth Bank of Australia 0.95%, 7/12/13(1)(2)	AU	$	1,600	$	1,603,141
Credit Agricole SA 8.38%, 10/13/19(1)(2)	FR		2,300		2,461,000
Danske Bank A/S 2.50%, 5/10/12(2)	DK		300		307,134
Deutsche Bank AG 6.00%, 9/1/17	DE		300		345,825
Dexia Credit Local 0.69%, 3/5/13(1)(2)	FR		3,300		3,287,840
0.94%, 9/23/11(1)(2)	FR		400		401,421
0.96%, 4/29/14(1)(2)	FR		1,700		1,692,879
Fortis Bank Nederland Holding NV 3.00%, 4/17/12	NL		200		279,039
ING Bank NV 1.09%, 3/30/12(1)(2)	NL		4,200		4,185,174
2.63%, 2/9/12(2)	NL		1,400		1,431,006
Intesa Sanpaolo New York 2.38%, 12/21/12	IT		2,400		2,403,154
Itau Unibanco Holding SA 6.20%, 4/15/20(2)	BR		1,800		1,875,227
JP Morgan Chase & Co., Series 3 1.04%, 9/30/13(1)			2,000		2,005,882
JP Morgan Chase & Co., Series I 7.90%, 4/30/18(1)			300		321,489
JP Morgan Chase Bank NA 0.62%, 6/13/16(1)			300		284,207
JP Morgan Chase Capital XXI, Series U 1.42%, 2/2/37(1)			1,000		715,468
Lloyds TSB Bank PLC 2.30%, 4/1/11(2)	GB		1,800		1,816,562
2.80%, 4/2/12(2)	GB		4,300		4,411,469
Macquarie Bank Ltd. 4.10%, 12/17/13(2)	AU		300		327,446
Merrill Lynch & Co., Inc. 0.58%, 2/15/11(1)			1,500		1,485,332
1.19%, 5/30/14(1)			100		127,643
6.88%, 4/25/18			200		224,339
Morgan Stanley 0.83%, 1/9/14(1)			500		472,604
1.01%, 10/15/15(1)			2,000		1,834,428
5.95%, 12/28/17			400		429,670
National Australia Bank Ltd. 2.55%, 1/13/12(2)	AU		1,000		1,023,977
Nordea Bank AB 4.88%, 1/27/20(2)	SE		1,800		1,952,370
Northern Rock Asset Management PLC 5.63%, 6/22/17(2)	GB		1,300		1,378,221
Royal Bank of Scotland Group PLC 0.78%, 4/8/11(1)(2)	GB		5,000		5,003,375
1.45%, 10/20/11(2)	GB		4,600		4,634,109
2.63%, 5/11/12(2)	GB		200		205,422

SC PIMCO TOTAL RETURN FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code*		Principal Amount (000)		Value
3.00%, 12/9/11(2)		GB	$	2,800	$	2,874,586
5.00%, 10/1/14		GB		100		100,225
6.99%, 10/5/17(1)(2)		GB		200		162,000
Santander US Debt SA Unipersonal 1.09%, 3/30/12(1)(2)		ES		3,100		3,056,926
2.99%, 10/7/13(2)(4)		ES		1,800		1,796,760
Scotland International Finance No. 2 BV 4.25%, 5/23/13(2)		NL		1,200		1,185,602
Societe Generale 5.92%, 4/5/17(1)(2)		FR		400		379,006
State Bank of India/London 4.50%, 7/27/15(2)		IN		1,000		1,050,505
State Street Capital Trust IV 1.29%, 6/15/37(1)				200		144,241
Swedbank AB 2.80%, 2/10/12(2)		SE		1,000		1,029,553
UBS AG/Stamford CT 1.44%, 2/23/12(1)		CH		800		805,539
Union Planters Corp. 7.75%, 3/1/11				300		304,859
Wachovia Bank NA 0.62%, 3/15/16(1)				400		366,877
Wachovia Corp. 0.66%, 10/15/11(1)				3,900		3,903,440
5.30%, 10/15/11				650		680,523
Westpac Banking Corp. 3.59%, 8/14/14(2)		AU		300		322,110
						84,363,033
CHEMICALS – 0.1%
The Dow Chemical Co. 4.85%, 8/15/12				900		952,511
6.00%, 10/1/12				100		108,352
						1,060,863
DIVERSIFIED – 0.1%
Noble Group Ltd. 4.88%, 8/5/15(2)		BM		1,000		1,034,575
ELECTRIC UTILITIES – 0.2%
Electricite de France 6.50%, 1/26/19(2)		FR		400		488,520
Entergy Corp. 3.63%, 9/15/15				1,000		1,009,828
						1,498,348
FINANCIALS – 4.7%
American Express Co. 7.00%, 3/19/18				700		843,069
CIT Group, Inc. 7.00%, 5/1/13				300		301,500
7.00%, 5/1/14				500		498,750
Countrywide Financial Corp. 5.80%, 6/7/12				2,100		2,230,817
General Electric Capital Corp., Series A 0.73%, 1/8/16(1)				100		92,771
6.15%, 8/7/37				100		104,724
6.88%, 1/10/39				800		918,716
International Lease Finance Corp.

	Country Code*		Principal Amount (000)		Value
0.86%, 7/1/11(1)			$	1,870	$	1,805,678
1.27%, 8/15/11(1)				1,600		2,082,944
5.40%, 2/15/12				3,700		3,718,500
6.38%, 3/25/13				2,000		2,010,000
6.75%, 9/1/16(2)				400		428,000
LeasePlan Corp. NV 3.00%, 5/7/12(2)		NL		1,000		1,033,308
3.13%, 2/10/12		NL		200		279,163
Nomura Holdings, Inc. 6.70%, 3/4/20		JP		2,300		2,628,323
SLM Corp. 4.75%, 3/17/14				100		124,829
SLM Corp., Series A 0.49%, 3/15/11(1)				1,800		1,785,256
0.80%, 1/27/14(1)				500		431,894
8.45%, 6/15/18				1,000		1,010,064
Sydney Airport Finance Co., Pty Ltd. 5.13%, 2/22/21(2)(4)		AU		100		99,902
The Goldman Sachs Group, Inc. 0.60%, 2/6/12(1)				200		198,731
0.74%, 3/22/16(1)				600		554,715
5.95%, 1/18/18				6,800		7,468,630
6.15%, 4/1/18				1,100		1,220,132
6.25%, 9/1/17				700		784,555
						32,654,971
FOOD, BEVERAGES & RESTAURANTS – 0.5%
Anheuser-Busch InBev Worldwide, Inc. 4.13%, 1/15/15				1,200		1,291,750
5.38%, 1/15/20				1,200		1,354,549
Tate & Lyle International Finance PLC 6.63%, 6/15/16(2)		GB		500		563,311
						3,209,610
HEALTH CARE – 0.7%
HCA, Inc. 7.88%, 2/15/20				4,000		4,375,000
Roche Holdings, Inc. 6.00%, 3/1/19(2)				600		726,878
						5,101,878
INSURANCE – 1.4%
American International Group, Inc. 1.03%, 4/26/11(1)				100		135,020
5.05%, 10/1/15				100		101,750
5.45%, 5/18/17				100		101,750
5.85%, 1/16/18				200		207,000
8.25%, 8/15/18				1,000		1,165,000
Metropolitan Life Global Funding I 0.93%, 7/13/11(1)(2)				2,400		2,404,047
Ohio National Financial Services, Inc. 6.38%, 4/30/20(2)				5,100		5,539,018
Pacific LifeCorp. 6.00%, 2/10/20(2)				100		107,824

SC PIMCO TOTAL RETURN FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code*		Principal Amount (000)		Value
The Hartford Financial Services Group, Inc. 8.13%, 6/15/38(1)			$	300	$	303,000
						10,064,409
INVESTMENT COMPANIES – 1.0%
FIH Erhvervsbank A/S 0.66%, 6/13/13(1)(2)		DK		6,500		6,492,648
Temasek Financial I Ltd. 4.30%, 10/25/19(2)		SG		300		324,853
						6,817,501
METALS & MINING – 0.2%
Alcoa, Inc. 6.15%, 8/15/20				600		616,887
Gerdau Holdings, Inc. 7.00%, 1/20/20(2)		BR		200		223,500
Gerdau Trade, Inc. 5.75%, 1/30/21(2)(4)		VG		200		202,926
Vale Overseas Ltd. 6.88%, 11/10/39		KY		300		343,788
						1,387,101
OIL & GAS – 0.5%
Ras Laffan Liquefied Natural Gas Co. Ltd. III 6.75%, 9/30/19		QA		1,200		1,425,996
Shell International Finance BV 5.50%, 3/25/40		NL		300		343,433
6.38%, 12/15/38		NL		1,000		1,267,890
Total Capital SA 4.45%, 6/24/20		FR		200		218,861
						3,256,180
OIL & GAS - EXPLORATION & PRODUCTION – 0.4%
Gazprom OAO 9.63%, 3/1/13		DE		2,400		2,727,600
Transocean, Inc. 4.95%, 11/15/15		CH		100		103,987
						2,831,587
PIPELINES – 0.1%
El Paso Corp. 7.88%, 6/15/12				400		425,697
REFINING – 0.2%
Petrobras International Finance Co. 7.88%, 3/15/19		KY		1,300		1,621,233
SAVINGS & LOANS – 0.1%
Nationwide Building Society 6.25%, 2/25/20(2)		GB		600		660,480
SPECIAL PURPOSE BANKS – 0.3%
The Export-Import Bank of Korea 5.13%, 6/29/20		KR		300		323,033
5.88%, 1/14/15		KR		900		1,005,842

	Country Code*	Principal Amount (000)		Value
8.13%, 1/21/14	KR	$	400	$	469,500
					1,798,375
SPECIAL PURPOSE ENTITIES – 0.4%
Mizuho Capital Investment EUR 1 Ltd. 5.02%, 6/30/11(1)	KY		1,000		1,295,088
MUFG Capital Finance 5 Ltd. 6.30%, 1/25/17(1)	KY		1,000		1,464,863
					2,759,951
TELECOMMUNICATIONS – 0.1%
Verizon Wireless Capital LLC 2.95%, 5/20/11(1)			1,000		1,016,650
TRANSPORTATION – 0.1%
Ryder System, Inc. 6.00%, 3/1/13			400		432,701
UTILITIES – 0.9%
Centrais Eletricas Brasileiras SA 6.88%, 7/30/19(2)	BR		1,600		1,888,000
MidAmerican Energy Holdings Co. 6.13%, 4/1/36			300		343,213
Nakilat, Inc. 6.07%, 12/31/33	QA		2,800		3,080,000
NRG Energy, Inc. 8.25%, 9/1/20(2)			700		721,875
					6,033,088
Total Corporate Debt Obligations (Cost $164,031,800)					175,423,841
FOREIGN GOVERNMENT AGENCY OBLIGATIONS – 1.3%
Banco Nacional de Desenvolvimento Economico e Social 4.13%, 9/15/17(2)	BR		200		271,437
Canada Housing Trust No. 1 3.35%, 12/15/20	CA		1,600		1,580,391
Korea Housing Finance Corp. 4.13%, 12/15/15(2)	KR		3,500		3,671,287
Societe Financement de l’Economie Francaise 0.73%, 7/16/12(1)(2)	FR		1,000		1,001,770
3.38%, 5/5/14(2)	FR		2,100		2,259,102
Total Foreign Government Agency Obligations (Cost $8,421,273)					8,783,987
FOREIGN GOVERNMENT OBLIGATIONS – 1.1%
Canadian Government Bond 2.00%, 12/1/14	CA		1,900		1,859,503
2.50%, 9/1/13	CA		1,500		1,496,603
Federal Republic of Brazil 7.88%, 3/7/15	BR		2,200		2,700,500

SC PIMCO TOTAL RETURN FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code*	Principal Amount (000)		Value
Province of Ontario Canada 4.70%, 6/2/37	CA	$	1,300	$	1,354,696
4.60%, 6/2/39	CA		300		309,943
United Mexican States, Series A 6.05%, 1/11/40	MX		200		229,000
Total Foreign Government Obligations (Cost $7,727,121)					7,950,245
MUNICIPAL BONDS – 2.0%
California Infrastructure & Economic Development Bank 6.49%, 5/15/49			1,000		1,096,270
California State University 6.43%, 11/1/30			200		218,034
City of New York, NY 6.25%, 6/1/35			3,800		4,008,962
Contra Costa, California Community College District 6.50%, 8/1/34			1,600		1,748,608
County of Clark, NV 6.82%, 7/1/45			300		332,685
Los Angeles Unified School District, California 6.76%, 7/1/34			200		226,824
Metropolitan Transportation Authority 7.34%, 11/15/39			1,100		1,371,271
New Jersey Economic Development Authority 1.29%, 6/15/13(1)			1,300		1,293,617
New York State Thruway Authority 5.88%, 4/1/30			1,000		1,105,620
State of California 7.63%, 3/1/40			1,000		1,099,880
7.95%, 3/1/36			400		428,840
State of Illinois 4.07%, 1/1/14			400		413,488
State of Louisiana 3.00%, 5/1/43(1)			400		404,196
Total Municipal Bonds (Cost $12,758,673)					13,748,295
U.S. TREASURY AND U.S. GOVERNMENT AGENCY OBLIGATIONS – 67.8%
Federal Home Loan Mortgage Corp. 4.50%, 9/1/40			1,000		1,041,105
4.50%, TBA(4)			1,000		1,039,844
5.50%, 4/1/37			137		145,149
5.50%, 7/1/37			456		483,595
5.50%, 8/1/37			234		248,716
5.50%, 7/1/38			723		767,599
5.50%, 8/1/38			574		609,596
5.50%, 2/1/39			21		22,129
5.50%, 2/1/40			2,000		2,123,062

	Country Code*	Principal Amount (000)		Value
Federal National Mortgage Association 1.13%, 9/30/13		$	3,400	$	3,425,571
1.63%, 10/26/15			900		899,643
4.00%, 9/1/40			1,000		1,029,073
4.00%, 10/1/40			1,000		1,029,073
4.00%, TBA(4)			33,000		33,917,796
4.50%, 4/1/39			1,000		1,042,667
4.50%, 8/1/39			708		738,185
4.50%, 3/1/40			1,302		1,357,005
4.50%, 5/1/40			15,185		15,830,726
4.50%, 6/1/40			2,000		2,085,020
4.50%, 7/1/40			2,784		2,902,653
4.50%, 8/1/40			10,403		10,844,964
4.50%, 9/1/40			13,206		13,768,060
4.50%, TBA(4)			5,000		5,206,250
4.63%, 10/15/13			1,200		1,334,684
5.50%, 2/1/34			14		14,638
5.50%, 3/1/36			474		505,413
5.50%, 8/1/36			16		17,254
5.50%, 12/1/36			11		11,215
5.50%, 2/1/38			2,179		2,318,183
5.50%, TBA(4)			4,000		4,251,876
6.00%, 8/1/36			380		410,871
6.00%, 9/1/36			69		74,212
6.00%, 10/1/36			13		14,327
6.00%, 12/1/36			423		457,163
6.00%, 1/1/37			156		168,444
6.00%, 4/1/37			280		301,937
6.00%, 5/1/37			53		56,945
6.00%, 8/1/37			859		924,887
6.00%, 9/1/37			3,176		3,417,134
6.00%, 10/1/37			451		484,867
6.00%, 11/1/37			81		86,825
6.00%, 12/1/37			4,616		4,966,750
6.00%, 1/1/38			829		891,842
6.00%, 3/1/38			1,123		1,207,158
6.00%, 6/1/38			76		81,391
6.00%, 8/1/38			1,187		1,281,579
6.00%, 7/1/39			89		95,454
6.00%, 9/1/39			242		260,461
6.00%, TBA(4)			17,000		18,259,054
6.50%, TBA(4)			2,000		2,180,624
Government National Mortgage Association 5.50%, 2/15/37			707		761,293
6.00%, 6/15/36			249		271,756
6.00%, 10/15/37			114		123,920
6.00%, 8/15/38			128		138,962
6.00%, 10/15/38			886		962,943
6.00%, 11/15/38			109		118,703
6.00%, 2/15/39			3,598		3,910,200
6.00%, 11/15/39			8,315		9,035,581
6.00%, 1/15/40			94		102,665
6.00%, 5/15/40			97		105,205
6.00%, TBA(4)			4,000		4,332,500
6.50%, 12/15/37			260		286,513
6.50%, 8/15/38			553		608,921
U.S. Treasury Bond 9.88%, 11/15/15			2,400		3,418,687

SC PIMCO TOTAL RETURN FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code*	Principal Amount (000)		Value
U.S. Treasury Inflation Indexed Bonds 1.25%, 7/15/20		$	2,599	$	2,727,217
1.75%, 1/15/28			3,954		4,191,390
2.00%, 1/15/26			2,746		3,019,554
2.38%, 1/15/25			2,544		2,925,924
2.38%, 1/15/27			2,919		3,369,203
2.50%, 1/15/29			3,656		4,312,364
U.S. Treasury Notes 0.38%, 8/31/12			122,020		121,929,461
0.38%, 9/30/12			3,200		3,196,499
0.63%, 6/30/12			21,100		21,185,666
0.63%, 7/31/12			3,100		3,112,958
1.25%, 8/31/15			2,600		2,599,189
1.75%, 7/31/15			3,900		3,993,834
1.88%, 6/30/15			14,900		15,353,988
1.88%, 8/31/17			4,700		4,695,963
1.88%, 9/30/17			10,600		10,573,500
2.13%, 5/31/15			8,100		8,444,898
2.38%, 7/31/17			16,900		17,449,250
2.50%, 4/30/15			7,700		8,163,201
2.50%, 6/30/17(5)(7)			24,000		25,005,000
2.75%, 11/30/16			9,600		10,200,000
2.75%, 5/31/17			10,000		10,578,910
3.00%, 2/28/17			4,000		4,301,876
3.13%, 10/31/16			700		759,774
3.13%, 1/31/17			1,000		1,083,594
3.13%, 4/30/17(7)			9,000		9,738,981
3.25%, 12/31/16			3,300		3,601,382
Total U.S. Treasury and U.S. Government Agency Obligations (Cost $469,231,401)					475,324,094
		Shares
CONVERTIBLE PREFERRED STOCKS – 0.0%+
BANKS – 0.0%+
Wells Fargo & Co., Series L 7.50%, 12/31/49 (Cost $129,360)			200		201,200
PREFERRED STOCKS – 0.9%
BANKS – 0.9%
Citigroup, Inc., Series 1 6.15%, 12/15/12 (Cost $6,376,725)			405,000		6,055,155
		Principal Amount (000)
SHORT TERM INVESTMENTS – 4.6%
U.S. TREASURY AND U.S. GOVERNMENT AGENCY OBLIGATIONS(6) – 3.9%
Federal Home Loan Mortgage Corp. Discount Notes 0.23%, 10/5/10			8,500		8,499,774
0.25%, 10/15/10			5,800		5,799,436

	Country Code*	Principal Amount (000)		Value
0.26%, 10/20/10		$	3,200	$	3,199,569
Federal National Mortgage Association Discount Notes 0.25%, 10/15/10			2,800		2,799,728
U.S. Treasury Bills 0.21%, 10/21/10			6,700		6,699,758
0.30%, 10/21/10(5)			140		139,989
Total U.S. Treasury and U.S. Government Agency Obligations (Amortized cost $27,138,254)					27,138,254
		Shares
MUTUAL FUNDS – 0.7%
State Street Institutional U.S. Government Money Market Fund (Cost $4,876,290)			4,876,290		4,876,290
Total Short Term Investments (Cost $32,014,544)					32,014,544
TOTAL INVESTMENTS – 107.9% (Cost $733,978,255)					756,182,704
Liabilities in excess of other assets – (7.9)%					(55,139,197	)
NET ASSETS – 100.0%				$	701,043,507

TBA To Be Announced. Securities are purchased on a forward commitment basis with an approximate principal amount and no definite maturity date. The actual principal and maturity date will be determined upon settlement when the specific mortgage pools are assigned. At the period end, total market value of the TBA securities amounts to $69,187,944 which represents approximately 9.9% of net assets. At the period end, the broker pledged securities with an aggregate market value of $259,929 and delivered cash of $340,000 to the Fund as collateral.

AU Australia

BM Bermuda

BR Brazil

CA Canada

CH Switzerland

CL Chile

DE Germany

DK Denmark

ES Spain

FR France

GB Great Britain

HK Hong Kong

IN India

IT Italy

JP Japan

KR Korea, Republic of

KY Cayman Islands

SC PIMCO TOTAL RETURN FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

MX Mexico

NL Netherlands

QA Qatar

SE Sweden

SG Singapore

VG British Virgin Islands

+ Amount is less than 0.05%.

* Unless otherwise noted the issuer country code for all securities is United States.

(1) Variable rate security. The interest rate shown reflects the rate in effect at the period end.

(2) Eligible for resale under rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the period end, the value of these securities amounted to $93,927,607 representing 13.4% of net assets.

(3) Security is a “Step-up” bond where the coupon increases on a predetermined future date.

(4) Security (or a portion thereof) has been purchased on a delayed delivery or when-issued basis.

(5) Security (or a portion thereof) has been pledged as collateral for open swap and swaption contracts. At the period end, the value of securities pledged amounted to $417,128.

(6) Interest rates represent annualized yield at date of purchase.

SC PIMCO TOTAL RETURN FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

(7) At the period end, securities (or portions thereof) with an aggregate market value of $1,303,451 have been pledged to cover margin requirements for the following open futures contracts:

Type	Description	Expiration Date		Contracts		Aggregate Face Value ($)		Aggregate Notional Value ($)		Unrealized Appreciation ($)
Long	90-Day Eurodollar December Futures		12/13/10		212		52,576,050		52,809,200		233,150
Long	90-Day Eurodollar December Futures		12/19/11		27		6,686,662		6,702,750		16,088
Long	90-Day Eurodollar June Futures		6/13/11		115		28,531,825		28,610,563		78,738
Long	90-Day Eurodollar June Futures		6/18/12		27		6,660,563		6,683,513		22,950
Long	90-Day Eurodollar March Futures		3/14/11		374		92,873,625		93,116,650		243,025
Long	90-Day Eurodollar March Futures		3/19/12		27		6,673,950		6,693,638		19,688
Long	90-Day Eurodollar September Futures		9/19/11		45		11,159,450		11,184,750		25,300
Long	U.S. Treasury 10 Year Note December Futures		12/21/10		415		51,768,516		52,309,453		540,937
Long	U.S. Treasury 5 Year Note December Futures		12/31/10		66		7,900,219		7,977,234		77,015
Net unrealized appreciation											1,256,891

(8) At period end, the Fund had the following open forward sales contracts:

Description	Interest Rate			Maturity Date		Settlement Date		Principal Amount ($)		Value ($)
Government National Mortgage Association		6.00	%		TBA-30 Yr		10/20/10		4,000,000		4,340,000
(Proceeds receivable $4,343,125)											4,340,000

(9) At the period end, open forward foreign currency exchange contracts were as follows:

Counterparty	Contracts to Deliver		In Exchange For		Settlement Date		Unrealized Appreciation / (Depreciation) ($)
Bank of America Securities LLC	USD	1,294,675	CAD	1,332,000		11/18/10		(1,430	)
Bank of America Securities LLC	USD	1,299,534	CAD	1,337,000		11/18/10		(1,436	)
Bank of America Securities LLC	USD	30,000	IDR	305,100,000		10/7/10		4,168
Bank of America Securities LLC	USD	128,589	KRW	151,832,000		11/12/10		4,751
Bank of America Securities LLC	USD	101,533	KRW	119,433,000		11/12/10		3,355
Bank of America Securities LLC	USD	100,000	ZAR	723,230		10/28/10		3,370
Barclays Bank PLC	CAD	1,369,000	USD	1,283,831		11/18/10		(45,337	)
Barclays Bank PLC	EUR	10,883,000	USD	13,952,006		10/26/10		(881,698	)
Barclays Bank PLC	EUR	90,000	USD	115,936		11/23/10		(6,707	)
Barclays Bank PLC	EUR	1,000,000	USD	1,347,675		11/23/10		(15,026	)
Barclays Bank PLC	KRW	13,090,000	USD	11,025		11/12/10		(471	)
Barclays Bank PLC	KRW	15,125,343	USD	12,269		11/12/10		(1,014	)
Barclays Bank PLC	USD	280,512	AUD	300,000		10/29/10		8,614
Barclays Bank PLC	USD	299,623	CAD	308,000		11/18/10		(584	)
Barclays Bank PLC	USD	306,000	CNY	2,027,556		4/7/11		(1,571	)
Barclays Bank PLC	USD	315,000	CNY	2,086,560		4/7/11		(1,712	)
Barclays Bank PLC	USD	241,000	CNY	1,595,420		4/7/11		(1,455	)
Barclays Bank PLC	USD	241,000	CNY	1,595,420		4/7/11		(1,455	)
Barclays Bank PLC	USD	70,000	IDR	684,110,000		11/24/10		6,007

SC PIMCO TOTAL RETURN FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

(Continued)

Counterparty	Contracts to Deliver		In Exchange For		Settlement Date		Unrealized Appreciation / (Depreciation) ($)
Barclays Bank PLC	USD	100,000	IDR	934,000,000		7/27/11		(10	)
Barclays Bank PLC	USD	99,185	KRW	116,126,000		11/12/10		2,798
Barclays Bank PLC	USD	775,127	MXN	9,951,850		2/22/11		4,187
Barclays Bank PLC	USD	36,498	MXN	482,864		2/22/11		1,315
Barclays Bank PLC	USD	10,000	MYR	33,749		10/12/10		927
Barclays Bank PLC	USD	10,000	MYR	34,176		10/12/10		1,065
Barclays Bank PLC	USD	10,000	MYR	34,347		10/12/10		1,120
Barclays Bank PLC	USD	10,000	MYR	34,400		10/12/10		1,138
Barclays Bank PLC	USD	17,213	MYR	58,000		10/12/10		1,565
Barclays Bank PLC	USD	20,187	MYR	66,472		10/12/10		1,334
Barclays Bank PLC	USD	10,000	MYR	34,051		10/12/10		1,025
Barclays Bank PLC	USD	47,837	PHP	2,223,000		11/15/10		2,615
Barclays Bank PLC	USD	3,869	TWD	121,000		10/12/10		5
Barclays Bank PLC	USD	94,000	TWD	2,908,830		10/12/10		(878	)
Barclays Bank PLC	USD	300,000	ZAR	2,171,550		10/28/10		10,377
Barclays Bank PLC	USD	100,000	ZAR	718,750		10/28/10		2,730
Barclays Bank PLC	USD	100,000	ZAR	728,400		1/28/11		2,646
Barclays Bank PLC	USD	100,000	ZAR	760,150		9/13/11		3,543
Barclays Bank PLC	IDR	549,660,000	USD	61,518		10/7/10		(39	)
Barclays Bank PLC	MYR	160,000	USD	51,772		10/12/10		(31	)
Barclays Bank PLC	USD	100,000	IDR	902,000,000		11/24/10		215
Barclays Bank PLC	USD	500,000	IDR	4,505,000,000		11/24/10		521
Barclays Bank PLC	USD	200,000	IDR	1,793,000,000		11/24/10		(792	)
Barclays Bank PLC	USD	59,519	IDR	549,660,000		7/27/11		(675	)
Barclays Bank PLC	USD	200,000	INR	9,316,000		11/12/10		5,921
Barclays Bank PLC	USD	400,000	INR	18,092,000		11/12/10		(94	)
Barclays Bank PLC	USD	100,000	MXN	1,303,090		2/22/11		2,043
Barclays Bank PLC	USD	100,000	MXN	1,282,850		2/22/11		458
Barclays Bank PLC	USD	51,502	MYR	160,000		2/7/11		(91	)
Barclays Bank PLC	USD	100,000	PHP	4,485,000		6/15/11		(260	)
Barclays Bank PLC	USD	100,000	PHP	4,468,500		6/15/11		(627	)
BNP Paribas SA	USD	100,000	CAD	103,223		10/5/10		315
Citibank NA	CAD	206,436	USD	200,054		10/5/10		(567	)
Citibank NA	GBP	500,000	USD	783,650		10/5/10		(1,794	)
Citibank NA	IDR	563,500,000	USD	62,807		10/7/10		(300	)
Citibank NA	KRW	778,400,000	USD	629,600		11/12/10		(54,001	)
Citibank NA	KRW	27,850,000	USD	23,147		11/12/10		(1,312	)
Citibank NA	USD	199,572	CAD	205,000		11/18/10		(537	)
Citibank NA	USD	199,448	CAD	206,000		11/18/10		558
Citibank NA	USD	315,790	GBP	200,000		10/5/10		(1,612	)
Citibank NA	USD	783,235	GBP	500,000		12/20/10		1,783
Citibank NA	USD	120,000	IDR	1,219,260,000		10/7/10		16,545
Citibank NA	USD	80,000	IDR	778,400,000		11/24/10		6,483
Citibank NA	USD	100,000	IDR	919,300,000		4/15/11		(199	)
Citibank NA	USD	60,611	IDR	563,500,000		7/27/11		(285	)
Citibank NA	USD	40,000	IDR	382,000,000		7/27/11		895
Citibank NA	USD	60,000	IDR	571,800,000		7/27/11		1,214
Citibank NA	USD	54,362	KRW	63,481,093		11/12/10		1,388
Citibank NA	USD	30,000	KRW	34,770,000		11/12/10		535
Citibank NA	USD	60,000	KRW	69,282,000		11/12/10		844

SC PIMCO TOTAL RETURN FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

(Continued)

Counterparty	Contracts to Deliver		In Exchange For		Settlement Date		Unrealized Appreciation / (Depreciation) ($)
Citibank NA	USD	60,000	KRW	70,155,000		11/12/10		1,611
Citibank NA	USD	60,000	KRW	70,056,000		11/12/10		1,524
Citibank NA	USD	30,000	KRW	35,034,000		11/12/10		767
Citibank NA	USD	60,000	KRW	69,714,000		11/12/10		1,224
Citibank NA	USD	125,180	MXN	1,659,892		2/22/11		4,803
Citibank NA	USD	100,000	MXN	1,304,400		2/22/11		2,146
Citibank NA	USD	100,000	MXN	1,282,900		2/22/11		462
Citibank NA	USD	100,000	MXN	1,269,650		2/22/11		(576	)
Citibank NA	USD	36,391	MYR	124,601		10/12/10		3,951
Citibank NA	USD	17,809	MYR	60,000		10/12/10		1,617
Citibank NA	USD	34,798	MYR	116,000		10/12/10		2,759
Citibank NA	USD	35,232	MYR	116,000		10/12/10		2,325
Citibank NA	USD	20,193	MYR	66,472		10/12/10		1,328
Citibank NA	USD	400,000	PHP	17,608,000		11/15/10		(378	)
Citibank NA	USD	100,000	PHP	4,406,000		11/15/10		(4	)
Citibank NA	USD	47,146	PHP	2,197,000		11/15/10		2,716
Citibank NA	USD	47,017	PHP	2,175,000		11/15/10		2,346
Citibank NA	USD	60,711	PHP	2,800,000		11/15/10		2,836
Citibank NA	USD	100,000	SGD	132,160		3/9/11		509
Citibank NA	USD	10,679	TWD	335,000		10/12/10		46
Citibank NA	USD	800	TWD	24,868		10/12/10		(4	)
Citibank NA	USD	100,000	ZAR	733,225		10/28/10		4,799
Credit Suisse AG (London)	CAD	1,596,000	USD	1,515,894		11/18/10		(33,669	)
Deutsche Bank AG (London)	USD	100,000	CAD	103,213		10/5/10		305
Deutsche Bank AG (London)	USD	2,010,224	CNY	13,496,646		4/7/11		16,238
Deutsche Bank AG (London)	USD	8,543,083	EUR	6,671,000		11/23/10		547,493
Deutsche Bank AG (London)	USD	60,000	KRW	69,756,000		11/12/10		1,261
Deutsche Bank AG (London)	USD	100,000	MXN	1,273,450		2/22/11		(278	)
Deutsche Bank AG (London)	USD	85,231	MYR	277,000		10/12/10		4,453
Deutsche Bank AG (London)	USD	45,787	PHP	2,130,000		11/15/10		2,555
Deutsche Bank AG (London)	USD	79,000	TWD	2,448,210		10/12/10		(624	)
Deutsche Bank AG (London)	USD	20,979	TWD	649,000		1/14/11		(165	)
Deutsche Bank AG (London)	USD	10,066	TWD	316,872		1/14/11		97
Goldman Sachs International	GBP	1,725,000	USD	2,685,502		12/20/10		(22,807	)
Goldman Sachs International	USD	30,000	KRW	35,190,000		11/12/10		904
HSBC Bank PLC	BRL	17,862,831	USD	10,086,296		10/4/10		(470,932	)
HSBC Bank PLC	IDR	136,500,000	USD	15,229		10/7/10		(57	)
HSBC Bank PLC	IDR	579,800,000	USD	64,739		10/7/10		(193	)
HSBC Bank PLC	USD	1,400,000	BRL	2,506,840		10/4/10		81,584
HSBC Bank PLC	USD	2,000,000	BRL	3,582,200		10/4/10		117,139
HSBC Bank PLC	USD	300,000	BRL	538,770		10/4/10		18,422
HSBC Bank PLC	USD	1,100,000	BRL	2,001,120		10/4/10		82,695
HSBC Bank PLC	USD	400,000	BRL	708,280		10/4/10		18,605
HSBC Bank PLC	USD	9,953,656	BRL	17,862,831		12/2/10		482,146
HSBC Bank PLC	USD	100,000	BRL	178,850		12/2/10		4,488
HSBC Bank PLC	USD	100,000	BRL	177,450		12/2/10		3,670
HSBC Bank PLC	USD	242,000	CNY	1,602,040		4/7/11		(1,461	)
HSBC Bank PLC	USD	242,000	CNY	1,602,040		4/7/11		(1,461	)
HSBC Bank PLC	USD	157,995	GBP	100,000		10/5/10		(906	)
HSBC Bank PLC	USD	315,930	GBP	200,000		10/5/10		(1,752	)

SC PIMCO TOTAL RETURN FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

(Continued)

Counterparty	Contracts to Deliver		In Exchange For		Settlement Date		Unrealized Appreciation / (Depreciation) ($)
HSBC Bank PLC	USD	40,000	IDR	383,800,000		11/24/10		2,641
HSBC Bank PLC	USD	61,690	IDR	592,840,000		11/24/10		4,177
HSBC Bank PLC	USD	100,000	IDR	901,500,000		11/24/10		160
HSBC Bank PLC	USD	110,000	IDR	1,046,100,000		7/27/11		1,991
HSBC Bank PLC	USD	110,000	IDR	1,041,150,000		7/27/11		1,461
HSBC Bank PLC	USD	100,000	IDR	930,000,000		7/27/11		(438	)
HSBC Bank PLC	USD	14,696	IDR	136,500,000		7/27/11		(83	)
HSBC Bank PLC	USD	62,519	IDR	579,800,000		7/27/11		(448	)
HSBC Bank PLC	USD	100,000	MYR	310,000		2/7/11		(392	)
HSBC Bank PLC	USD	100,000	SGD	132,170		3/9/11		517
HSBC Bank PLC	USD	100,000	SGD	131,906		3/9/11		316
HSBC Bank PLC	USD	300,000	ZAR	2,199,030		10/28/10		14,305
JPMorgan Securities	USD	199,422	CAD	205,000		11/18/10		(386	)
JPMorgan Securities	CAD	316,000	USD	300,352		11/18/10		(6,454	)
JPMorgan Securities	KRW	315,000,000	USD	254,793		11/12/10		(21,845	)
JPMorgan Securities	USD	1,168,539	BRL	2,099,281		10/4/10		72,170
JPMorgan Securities	USD	315,413	GBP	200,000		12/20/10		(1,406	)
JPMorgan Securities	USD	200,000	IDR	1,803,000,000		11/24/10		319
JPMorgan Securities	USD	500,000	IDR	4,506,000,000		11/24/10		632
JPMorgan Securities	USD	100,000	IDR	923,000,000		4/15/11		202
JPMorgan Securities	USD	50,000	IDR	472,000,000		7/27/11		530
JPMorgan Securities	USD	110,000	KRW	126,032,500		11/12/10		683
JPMorgan Securities	USD	60,000	KRW	70,191,000		11/12/10		1,643
JPMorgan Securities	USD	50,000	KRW	56,540,000		11/12/10		(346	)
JPMorgan Securities	USD	100,000	MXN	1,269,450		2/22/11		(591	)
JPMorgan Securities	USD	100,000	MYR	310,250		2/7/11		(312	)
JPMorgan Securities	USD	100,000	PHP	4,480,000		6/15/11		(371	)
JPMorgan Securities	USD	100,000	PHP	4,492,000		6/15/11		(104	)
JPMorgan Securities	USD	26,314	TWD	831,000		1/14/11		338
JPMorgan Securities	USD	100,000	ZAR	723,080		10/28/10		3,349
JPMorgan Securities	USD	100,000	ZAR	728,400		1/28/11		2,647
Morgan Stanley Capital Services, Inc.	JPY	658,465,000	USD	7,823,966		11/1/10		(65,652	)
Morgan Stanley Capital Services, Inc.	USD	686,165	AUD	778,000		10/29/10		63,635
Morgan Stanley Capital Services, Inc.	USD	400,000	BRL	708,480		10/4/10		18,723
Morgan Stanley Capital Services, Inc.	USD	600,000	BRL	1,068,300		10/4/10		31,383
Morgan Stanley Capital Services, Inc.	USD	245,000	CNY	1,623,125		4/7/11		(1,295	)
Morgan Stanley Capital Services, Inc.	USD	120,000	KRW	138,132,000		11/12/10		1,309
Morgan Stanley Capital Services, Inc.	USD	123,000	KRW	138,965,400		11/12/10		(959	)
Morgan Stanley Capital Services, Inc.	USD	146,501	KRW	174,900,000		11/12/10		7,099
Morgan Stanley Capital Services, Inc.	USD	185,027	KRW	218,600,000		11/12/10		6,951
Morgan Stanley Capital Services, Inc.	USD	100,000	KRW	116,250,000		11/12/10		2,092
Morgan Stanley Capital Services, Inc.	USD	100,000	KRW	116,143,000		11/12/10		1,998
Morgan Stanley Capital Services, Inc.	USD	100,000	KRW	115,160,000		1/19/11		1,428
Morgan Stanley Capital Services, Inc.	USD	200,000	KRW	230,220,000		1/19/11		2,769
Morgan Stanley Capital Services, Inc.	USD	100,000	KRW	115,110,000		1/19/11		1,384
Morgan Stanley Capital Services, Inc.	USD	100,000	KRW	115,208,000		1/19/11		1,471
Morgan Stanley Capital Services, Inc.	USD	200,000	KRW	228,920,000		1/19/11		1,624
Morgan Stanley Capital Services, Inc.	USD	200,000	KRW	227,820,000		1/19/11		655
Morgan Stanley Capital Services, Inc.	USD	100,000	MXN	1,303,220		2/22/11		2,053
Morgan Stanley Capital Services, Inc.	USD	100,000	MXN	1,283,600		2/22/11		517

SC PIMCO TOTAL RETURN FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

(Continued)

Counterparty	Contracts to Deliver		In Exchange For		Settlement Date		Unrealized Appreciation / (Depreciation) ($)
Morgan Stanley Capital Services, Inc.	USD	100,000	MXN	1,284,100		2/22/11		556
Morgan Stanley Capital Services, Inc.	USD	200,000	MXN	2,548,700		2/22/11		(415	)
Morgan Stanley Capital Services, Inc.	USD	100,000	MXN	1,268,940		2/22/11		(631	)
Morgan Stanley Capital Services, Inc.	USD	100,000	MXN	1,269,940		2/22/11		(553	)
Morgan Stanley Capital Services, Inc.	USD	100,000	MXN	1,266,350		2/22/11		(834	)
Morgan Stanley Capital Services, Inc.	USD	200,000	MXN	2,531,300		2/22/11		(1,778	)
Morgan Stanley Capital Services, Inc.	USD	25,362	TWD	797,000		1/14/11		200
Morgan Stanley Capital Services, Inc.	USD	100,000	ZAR	731,575		10/28/10		4,563
Morgan Stanley Capital Services, Inc.	USD	100,000	ZAR	759,900		9/13/11		3,508
Royal Bank of Scotland PLC	CAD	898,000	USD	877,184		11/18/10		5,313
Royal Bank of Scotland PLC	KRW	12,680,000	USD	10,414		11/12/10		(722	)
Royal Bank of Scotland PLC	USD	200,000	BRL	359,520		10/4/10		12,482
Royal Bank of Scotland PLC	USD	500,000	BRL	897,800		10/4/10		30,615
Royal Bank of Scotland PLC	USD	200,000	BRL	359,220		10/4/10		12,305
Royal Bank of Scotland PLC	USD	500,000	BRL	895,100		10/4/10		29,019
Royal Bank of Scotland PLC	USD	1,200,000	BRL	2,137,920		10/4/10		63,546
Royal Bank of Scotland PLC	USD	100,000	BRL	177,630		12/2/10		3,775
Royal Bank of Scotland PLC	USD	100,000	BRL	178,830		12/2/10		4,476
Royal Bank of Scotland PLC	USD	500,000	BRL	894,050		12/2/10		22,321
Royal Bank of Scotland PLC	USD	400,000	BRL	715,040		12/2/10		17,740
Royal Bank of Scotland PLC	USD	30,000	IDR	305,100,000		10/7/10		4,168
Royal Bank of Scotland PLC	USD	40,000	IDR	378,000,000		7/27/11		467
Net unrealized appreciation								331,141

AUD -Australian Dollar

BRL -Brazilian Real

CAD -Canadian Dollar

CNY -Yuan Renminbi

EUR -Euro

GBP -Great British Pound

IDR -Indonesian Rupiah

INR -Indian Rupee

JPY -Japanese Yen

KRW -South Korean Won

MXN -Mexican Peso

MYR -Malaysian Ringgit

PHP -Philippine Peso

SGD -Singapore Dollar

TWD -New Taiwan Dollar

USD -United States Dollar

ZAR -South African Rand

(10) At the period end, open written option contracts were as follows:

Options on Exchange-Traded Futures Contracts

Type	Description	Counterparty	Expiration Date		Strike Price ($)		Number of Contracts		Value ($)
Call	U.S. Treasury 5 Year Note December Futures	Credit Suisse Securities LLC		11/26/10		121.00		18		11,391
Call	U.S. Treasury 5 Year Note December Futures	Credit Suisse Securities LLC		11/26/10		121.50		23		9,523

SC PIMCO TOTAL RETURN FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

(Continued)

Type	Description	Counterparty	Expiration Date		Strike Price ($)		Number of Contracts		Value ($)
Put	U.S. Treasury 5 Year Note December Futures	Credit Suisse Securities LLC		11/26/10		119.00		41		7,047
Written options (Premium received, $37,731)								82		27,961

Inflation Floor Options

Description	Counterparty	Strike Index		Exercise Index	Expiration Date		Notional Amount (000) ($)		Value ($)
Floor - OTC CPURNSA Index	Citibank NA		217.965	Maximum of [1-(Index Final/Index Initial)] or $0		9/29/20		1,300		16,770
Floor - OTC CPURNSA Index	Citibank NA		216.687	Maximum of [1-(Index Final/Index Initial)] or $0		4/7/20		2,100		26,622
Floor - OTC CPURNSA Index	Deutsche Bank AG		215.949	Maximum of [1-(Index Final/Index Initial)] or $0		3/10/20		1,000		10,993
Written inflation floor options (Premium received, $42,970)								4,400		54,385

Interest Rate Swaptions

Type

Description

Counterparty

Pay/Receive Floating Rate

Floating Rate

Exercise Rate

Expiration Date

Notional Amount (000) ($)

Value ($)

Call

OTC -5 Year Interest Rate Swap

Bank of America NA

Receive

3-Month USD-LIBOR

1.45

%

10/29/10

3,500

6,480

Put

OTC -5 Year Interest Rate Swap

Bank of America NA

Pay

3-Month USD-LIBOR

1.95

%

10/29/10

3,500

674

Put

OTC -2 Year Interest Rate Swap

Bank of America NA

Pay

3-Month USD-LIBOR

2.25

%

9/24/12

7,100

47,444

Put

OTC -3 Year Interest Rate Swap

Bank of America NA

Pay

3-Month USD-LIBOR

3.00

%

6/18/12

11,000

58,934

Put

OTC -10 Year Interest Rate Swap

Bank of America NA

Pay

3-Month USD-LIBOR

4.00

%

6/13/11

1,700

9,684

Put

OTC -3 Year Interest Rate Swap

Barclays Bank PLC

Pay

3-Month USD-LIBOR

3.00

%

6/18/12

8,900

47,683

Put

OTC -10 Year Interest Rate Swap

Barclays Bank PLC

Pay

3-Month USD-LIBOR

4.00

%

6/13/11

900

5,127

Put

OTC -2 Year Interest Rate Swap

Citibank NA

Pay

3-Month USD-LIBOR

2.25

%

9/24/12

800

5,263

Call

OTC -5 Year Interest Rate Swap

Citibank NA

Receive

3-Month USD-LIBOR

1.45

%

10/29/10

1,400

2,592

Call

OTC -5 Year Interest Rate Swap

Citibank NA

Receive

3-Month USD-LIBOR

1.60

%

10/29/10

2,200

11,112

Put

OTC -5 Year Interest Rate Swap

Citibank NA

Pay

3-Month USD-LIBOR

1.95

%

10/29/10

3,400

655

Put

OTC -5 Year Interest Rate Swap

Citibank NA

Pay

3-Month USD-LIBOR

2.10

%

10/29/10

2,200

101

Put

OTC -3 Year Interest Rate Swap

Citibank NA

Pay

3-Month USD-LIBOR

3.00

%

6/18/12

7,800

41,789

Put

OTC -5 Year Interest Rate Swap

Citibank NA

Pay

3-Month USD-LIBOR

3.25

%

7/16/12

5,000

71,086

Call

OTC -5 Year Interest Rate Swap

Deutsche Bank AG*

Receive

3-Month USD-LIBOR

1.45

%

10/29/10

5,500

10,182

SC PIMCO TOTAL RETURN FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

(Continued)

Type	Description	Counterparty	Pay/Receive Floating Rate	Floating Rate	Exercise Rate	Expiration Date	Notional Amount (000) ($)	Value ($)
Put	OTC -3 Year Interest Rate Swap	Deutsche Bank AG*	Pay	3-Month USD-LIBOR	2.75%	6/18/12	6,300	41,840
Put	OTC -3 Year Interest Rate Swap	Deutsche Bank AG*	Pay	3-Month USD-LIBOR	3.00%	6/18/12	5,300	28,395
Put	OTC -10 Year Interest Rate Swap	Deutsche Bank AG*	Pay	3-Month USD-LIBOR	4.00%	6/13/11	800	4,557
Call	OTC -10 Year Interest Rate Swap	Goldman Sachs Bank	Receive	3-Month USD-LIBOR	3.25%	10/29/10	3,300	194,066
Put	OTC -10 Year Interest Rate Swap	Goldman Sachs Bank	Pay	3-Month USD-LIBOR	4.00%	6/13/11	900	5,127
Put	OTC -10 Year Interest Rate Swap	Goldman Sachs Bank	Pay	3-Month USD-LIBOR	5.00%	10/29/10	3,300	—
Call	OTC -5 Year Interest Rate Swap	Morgan Stanley Capital Services Inc.	Receive	3-Month USD-LIBOR	1.45%	10/29/10	5,700	10,552
Put	OTC -5 Year Interest Rate Swap	Morgan Stanley Capital Services Inc.	Pay	3-Month USD-LIBOR	1.95%	10/29/10	5,700	1,097
Put	OTC -2 Year Interest Rate Swap	Morgan Stanley Capital Services Inc.	Pay	3-Month USD-LIBOR	2.25%	9/24/12	1,000	6,682
Call	OTC -10 Year Interest Rate Swap	Morgan Stanley Capital Services Inc.	Receive	3-Month USD-LIBOR	3.25%	10/29/10	13,000	764,504
Put	OTC -10 Year Interest Rate Swap	Morgan Stanley Capital Services Inc.	Pay	3-Month USD-LIBOR	5.00%	10/29/10	13,000	1
Put	OTC -10 Year Interest Rate Swap	Morgan Stanley Capital Services Inc.	Pay	3-Month USD-LIBOR	10.00%	7/10/12	2,000	547
Put	OTC -2 Year Interest Rate Swap	Royal Bank of Scotland PLC	Pay	3-Month USD-LIBOR	2.25%	9/24/12	28,800	192,450
Put	OTC -3 Year Interest Rate Swap	Royal Bank of Scotland PLC	Pay	3-Month USD-LIBOR	2.75%	6/18/12	5,900	39,183
Put	OTC -3 Year Interest Rate Swap	Royal Bank of Scotland PLC	Pay	3-Month USD-LIBOR	3.00%	6/18/12	14,900	79,828
Put	OTC -5 Year Interest Rate Swap	Royal Bank of Scotland PLC	Pay	3-Month USD-LIBOR	3.25%	7/16/12	1,700	24,169
Put	OTC -5 Year Interest Rate Swap	Royal Bank of Scotland PLC	Pay	3-Month USD-LIBOR	4.00%	12/1/10	12,800	1
Put	OTC -10 Year Interest Rate Swap	Royal Bank of Scotland PLC	Pay	3-Month USD-LIBOR	4.00%	6/13/11	1,900	10,823
Written swaptions (Premium received, $1,536,946)							191,200	1,722,628

Credit Default Swaption Contracts on Credit Indices

Type	Description	Counterparty	Buy/Sell Protection	Exercise Rate	Expiration Date	Notional Amount (000) ($)		Value ($)
Put	OTC -CDX.IG-15 5-Year Index	Bank of America NA	Sell	1.20%	12/15/10		2,000		8,460
Written credit default swaptions (Premium received, $11,100)							2,000		8,460

CDX.IG	- Credit Derivatives Index - Investment Grade
CPURNSA	- Consumer Price All Urban Non-Seasonally Adjusted Index
LIBOR	- London Interbank Offered Rate
OTC	- Over the Counter
USD	- United States Dollar

SC PIMCO TOTAL RETURN FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

(11) At the period end, open swap contracts were as follows:

Interest Rate Swap Contracts

Counterparty	Pay/ Receive Floating Rate	Floating Rate Index	Fixed Rate	Expiration Date	Notional Amount (000) ($)	Market Value ($)	Upfront Premiums Paid / (Received) ($)	Unrealized Appreciation ($)
Bank of America NA	Pay	6-Month EUR- EURIBOR	2.00%	9/15/15	5,589	8,372	(33,670)	42,042
Barclays Bank PLC	Pay	6-Month EUR- EURIBOR	2.00%	9/15/15	5,044	7,555	(32,099)	39,654
Goldman Sachs Bank	Pay	BRL-BZDIOVRA	12.65%	1/2/14	591	26,797	6,547	20,250
HSBC Bank USA, NA**	Pay	MXN-TIIE-Banxico	7.33%	1/28/15	476	29,684	2,681	27,003
Morgan Stanley Capital Services Inc.	Pay	BRL-BZDIOVRA	12.59%	1/2/13	118	2,830	272	2,558
Morgan Stanley Capital Services Inc.	Pay	BRL-BZDIOVRA	12.51%	1/2/14	591	23,504	4,601	18,903
Morgan Stanley Capital Services Inc.	Pay	6-Month EUR- EURIBOR	2.00%	9/15/15	3,681	5,514	(17,338)	22,852
Royal Bank of Scotland PLC	Pay	3-Month CAD- CDOR	5.70%	12/18/24	3,110	107,085	(2,193)	109,278
Total					19,200	211,341	(71,199)	282,540

BRL -Brazilian Real

BZDIOVRA -Brazilian Interbank Deposit Rate Over

CAD -Canadian Dollar

CDOR -Canadian Deposit Offered Rate

EUR -Euro

EURIBOR -Euro Interbank Offered Rate

MXN -Mexican Peso

TIIE -Tasa de Interes Interbancaria de Equilibrio (Interbank Equilibrium Interest Rate)

Credit Default Swap Contract on Corporate Issue - Buy Protection (a)

Counterparty	Reference Entity	(Pay)/ Receive Fixed Rate	Expiration Date	Implied Credit Spread (b)	Notional Amount (c) (000) ($)	Market Value ($)	Unrealized Appreciation ($)
Barclays Bank PLC	Tate & Lyle International Finance PLC	(1.15)%	6/20/16	1.30%	500	4,032	4,032

Credit Default Swap Contracts on Corporate and Sovereign Issues - Sell Protection (a)

Counterparty	Reference Entity	(Pay)/ Receive Fixed Rate	Expiration Date	Implied Credit Spread (b)	Notional Amount (c) (000) ($)	Market Value ($)	Upfront Premiums Paid / (Received) ($)	Unrealized Appreciation ($)
Bank of America NA	Japan Government Bond	1.00%	3/20/15	0.50%	300	6,648	3,413	3,235
Barclays Bank PLC	Brazilian Government International Bond	1.00%	6/20/15	1.10%	500	(2,367)	(7,191)	4,824
Barclays Bank PLC	United Mexican States, Series A	1.00%	3/20/15	1.16%	400	(2,759)	(8,999)	6,240

SC PIMCO TOTAL RETURN FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

(Continued)

Counterparty	Reference Entity		(Pay)/ Receive Fixed Rate			Expiration Date		Implied Credit Spread (b)			Notional Amount (c) (000) ($)		Market Value ($)			Upfront Premiums Paid / (Received) ($)			Unrealized Appreciation ($)
Barclays Bank PLC		United Mexican States, Series A		1.00	%		9/20/15		1.20	%		3,300		(31,381	)		(44,617	)		13,236
Citibank NA		Brazilian Government International Bond		1.00	%		9/20/15		1.13	%		1,000		(5,978	)		(15,694	)		9,716
Citibank NA		United Mexican States, Series A		1.00	%		3/20/15		1.16	%		400		(2,759	)		(9,184	)		6,425
Deutsche Bank AG*		Brazilian Government International Bond		1.00	%		6/20/15		1.10	%		500		(2,367	)		(4,780	)		2,413
Deutsche Bank AG*		Japan Government Bond		1.00	%		3/20/15		0.50	%		700		15,511			8,131			7,380
Deutsche Bank AG*		United Mexican States, Series A		1.00	%		3/20/15		1.16	%		200		(1,380	)		(4,592	)		3,212
Deutsche Bank AG*		United Mexican States, Series A		1.00	%		9/20/15		1.20	%		3,000		(28,528	)		(40,561	)		12,033
Goldman Sachs International		Brazilian Government International Bond		1.00	%		6/20/15		1.10	%		500		(2,367	)		(6,716	)		4,349
Goldman Sachs International		Metlife, Inc.		1.00	%		9/20/15		2.15	%		1,000		(52,729	)		(64,375	)		11,646
Goldman Sachs International		United Kingdom Gilt		1.00	%		6/20/15		0.62	%		2,200		38,502			20,327			18,175
HSBC Bank USA, NA**		Brazilian Government International Bond		1.00	%		9/20/15		1.13	%		1,200		(7,173	)		(11,923	)		4,750
Morgan Stanley Capital Services Inc.		Brazilian Government International Bond		1.00	%		6/20/15		1.10	%		500		(2,367	)		(4,839	)		2,472
Morgan Stanley Capital Services Inc.		Brazilian Government International Bond		1.00	%		9/20/15		1.13	%		4,900		(29,290	)		(68,592	)		39,302
Total												20,600		(110,784	)		(260,192	)		149,408

Credit Default Swap Contracts on Credit Indices - Sell Protection (a)

Counterparty	Reference Entity	(Pay)/Receive Fixed Rate			Expiration Date		Notional Amount (c) (000) ($)		Market Value(d) ($)			Upfront Premiums Paid / (Received) ($)			Unrealized Appreciation / (Depreciation) ($)
Bank of America NA	CDX.IG-15 5-Year Index		1.00	%		12/20/15		3,800		(12,040	)		(19,970	)		7,930
Barclays Bank PLC	CDX.EM-13 Index		5.00	%		6/20/15		6,000		734,424			769,300			(34,876	)
Barclays Bank PLC	CDX.EM-14 Index		5.00	%		12/20/15		1,400		184,680			176,300			8,380
Citibank NA	CDX.HY-15 Index		5.00	%		12/20/15		600		(15,384	)		(15,937	)		553
Citibank NA	CDX.IG-15 5-Year Index		1.00	%		12/20/15		1,500		(4,752	)		(6,231	)		1,479
Deutsche Bank AG*	CDX.EM-13 Index		5.00	%		6/20/15		2,000		244,808			246,500			(1,692	)
Deutsche Bank AG*	CDX.EM-14 Index		5.00	%		12/20/15		800		105,532			103,150			2,382
Deutsche Bank AG*	CDX.IG-15 5-Year Index		1.00	%		12/20/15		3,400		(10,772	)		(13,827	)		3,055

SC PIMCO TOTAL RETURN FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

(Continued)

Counterparty	Reference Entity		(Pay)/Receive Fixed Rate			Expiration Date		Notional Amount (c) (000) ($)		Market Value (d) ($)			Upfront Premiums Paid / (Received) ($)			Unrealized Appreciation / (Depreciation) ($)
Goldman Sachs International		CDX.IG-15 5-Year Index		1.00	%		12/20/15		500		(1,584	)		(2,362	)		778
HSBC Bank USA, NA**		CDX.EM-13 Index		5.00	%		6/20/15		3,100		379,452			363,590			15,862
HSBC Bank USA, NA**		CDX.EM-14 Index		5.00	%		12/20/15		400		52,766			52,200			566
Morgan Stanley Capital Services Inc.		CDX.EM-13 Index		5.00	%		6/20/15		1,900		232,567			214,250			18,317
Morgan Stanley Capital Services Inc.		CDX.EM-14 Index		5.00	%		12/20/15		900		118,723			117,000			1,723
Morgan Stanley Capital Services Inc.		CDX.HY-14 Index		5.00	%		6/20/15		4,500		(40,011	)		(73,125	)		33,114
Total									30,800		1,968,409			1,910,838			57,571

CDX.EM - Credit Derivatives Index - Emerging Markets

CDX.HY - Credit Derivatives Index - High Yield

CDX.IG - Credit Derivatives Index - Investment Grade

* At the period end, cash of $645,000 has been received as collateral for these open swap and swaption contracts.

** At the period end, cash of $650,000 has been received as collateral for these open swap contracts.

(a) If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will pay to the buyer of the protection an amount up to the notional amount of the swap and in certain instances, take delivery of the security. As a buyer of protection, the Fund will generally receive from the seller of protection an amount up to the notional amount of the swap if a credit event occurs.

(b) Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate and sovereign issues as of period end serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of that particular agreement.

(c) The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.

(d) The quoted market prices and resulting values for credit default swap contracts on credit indices serve as an indicator of the current status of the payment/performance risk and represent the likelihood of an expected liability (or profit) for the credit derivative had the notional amount of the swap agreement been closed/sold as of the period end. Increasing market values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.

SC PIMCO TOTAL RETURN FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

(12) Fair Value Measurements †

The following table summarizes the inputs used to value the Fund’s assets and liabilities, as applicable, measured at fair value at the period end:

Assets	Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)		Total
Asset Backed Securities	$	—		$	4,223,528		$	—	$	4,223,528
Collateralized Mortgage Obligations		—			20,571,004			—		20,571,004
Commercial Mortgage Backed Securities		—			9,048,436			—		9,048,436
Convertible Bonds (a)		—			2,838,375			—		2,838,375
Corporate Debt Obligations (a)		—			175,423,841			—		175,423,841
Foreign Government Agency Obligations		—			8,783,987			—		8,783,987
Foreign Government Obligations		—			7,950,245			—		7,950,245
Municipal Bonds		—			13,748,295			—		13,748,295
U.S. Treasury and U.S. Government Agency Obligations		309,932,263			165,391,831			—		475,324,094
Convertible Preferred Stocks (a)		201,200			—			—		201,200
Preferred Stocks (a)		—			6,055,155			—		6,055,155
Short Term Investments
U.S. Treasury and U.S. Government Agency Obligations		—			27,138,254			—		27,138,254
Mutual Funds		4,876,290			—			—		4,876,290
Total Short Term Investments		4,876,290			27,138,254			—		32,014,544
Total Investments		315,009,753			441,172,951			—		756,182,704
Financial Derivative Instruments
Forward Foreign Currency Exchange Contracts		—			1,996,423			—		1,996,423
Futures Contracts		1,256,891			—			—		1,256,891
Swap Contracts		—			530,119			—		530,119
Total Financial Derivative Instruments		1,256,891			2,526,542			—		3,783,433
Other Financial Instruments
Forward Sales Contracts		—			3,125			—		3,125
Total Other Financial Instruments	$	—		$	3,125		$	—	$	3,125
Liabilities
Financial Derivative Instruments
Forward Foreign Currency Exchange Contracts	$	—		$	(1,665,282	)	$	—	$	(1,665,282	)
Swap Contracts		—			(36,568	)		—		(36,568	)
Written Option Contracts		(27,961	)		(54,385	)		—		(82,346	)
Written Swaption Contracts		—			(1,731,088	)		—		(1,731,088	)
Total Financial Derivative Instruments	$	(27,961	)	$	(3,487,323	)	$	—	$	(3,515,284	)

† See Note 2b in the Notes to Portfolios of Investments for additional information.

(a) See Portfolio of Investments for additional detailed categorizations.

SC INVESCO SMALL CAP GROWTH FUND

PORTFOLIO OF INVESTMENTS

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code**	Shares		Value
COMMON STOCKS – 98.0%
AEROSPACE & DEFENSE – 2.6%
Hexcel Corp.*			13,019	$	231,608
TransDigm Group, Inc.			7,853		487,279
					718,887
AIR FREIGHT & LOGISTICS – 1.6%
Forward Air Corp.			8,038		208,988
HUB Group, Inc.*			8,038		235,192
					444,180
AIRLINES – 0.4%
Continental Airlines, Inc., Class B*			3,918		97,323
AUTO COMPONENTS – 1.4%
TRW Automotive Holdings Corp.*			9,204		382,518
BIOTECHNOLOGY – 3.5%
Acorda Therapeutics, Inc.*			6,035		199,276
BioMarin Pharmaceutical, Inc.*			11,508		257,204
Martek Biosciences Corp.*			9,744		220,507
United Therapeutics Corp.*			5,241		293,548
					970,535
CAPITAL MARKETS – 3.5%
Affiliated Managers Group, Inc.*			3,513		274,049
Federated Investors, Inc., Class B			7,184		163,508
Greenhill & Co., Inc.			3,008		238,595
optionsXpress Holdings, Inc.*			9,406		144,476
Stifel Financial Corp.*			3,234		149,702
					970,330
CHEMICALS – 0.6%
Calgon Carbon Corp.*			11,508		166,866
COMMERCIAL BANKS – 3.0%
City National Corp.			3,937		208,937
Cullen/Frost Bankers, Inc.			3,645		196,356
Huntington Bancshares, Inc.			33,946		192,474
SVB Financial Group*			5,886		249,095
					846,862
COMMERCIAL SERVICES & SUPPLIES – 2.0%
Corrections Corp of America*			10,514		259,485
Fuel Tech, Inc.*			12,433		77,955
Tetra Tech, Inc.*			9,978		209,239
					546,679
COMMUNICATIONS EQUIPMENT – 4.2%
Ciena Corp.*			14,032		218,478
F5 Networks, Inc.*			2,949		306,136
Finisar Corp.*			6,999		131,511
Harmonic, Inc.*			28,539		196,349
Polycom, Inc.*			11,629		317,239
					1,169,713

	Country Code**	Shares		Value
CONTAINERS & PACKAGING – 1.1%
Greif, Inc., Class A			5,339	$	314,147
ELECTRIC UTILITIES – 1.0%
ITC Holdings Corp.			4,423		275,332
ELECTRICAL EQUIPMENT – 1.1%
Regal-Beloit Corp.			5,222		306,479
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS – 1.8%
Cogent, Inc.*			13,768		146,492
Coherent, Inc.*			4,424		177,004
Tech Data Corp.*			4,568		184,090
					507,586
ENERGY EQUIPMENT & SERVICES – 2.4%
Dril-Quip, Inc.*			3,645		226,391
FMC Technologies, Inc.*			3,524		240,654
Patterson-UTI Energy, Inc.			12,267		209,520
					676,565
FOOD PRODUCTS – 1.2%
Diamond Foods, Inc.			4,429		181,545
Ralcorp Holdings, Inc.*			2,507		146,609
					328,154
HEALTH CARE EQUIPMENT & SUPPLIES – 4.7%
American Medical Systems Holdings, Inc.*			11,405		223,310
Gen-probe, Inc.*			4,406		213,515
Insulet Corp.*			10,181		143,959
Meridian Bioscience, Inc.			8,925		195,279
NuVasive, Inc.*			3,898		136,976
Sirona Dental Systems, Inc.*			5,879		211,879
Zoll Medical Corp.*			6,038		194,846
					1,319,764
HEALTH CARE PROVIDERS & SERVICES – 4.4%
Chemed Corp.			5,339		304,163
Health Management Associates, Inc., Class A*			24,176		185,188
MEDNAX, Inc.*			4,423		235,746
PSS World Medical, Inc.*			9,330		199,475
Rehabcare Group, Inc.*			6,398		129,368
VCA Antech, Inc.*			8,928		188,291
					1,242,231
HEALTH CARE TECHNOLOGY – 1.8%
Allscripts Heathcare Solutions, Inc.*			15,030		277,604
Quality Systems, Inc.			3,445		228,438
					506,042
HOTELS, RESTAURANTS & LEISURE – 6.9%
Brinker International, Inc.			11,730		221,228
Buffalo Wild Wings, Inc.*			4,394		210,429
Choice Hotels International, Inc.			6,222		226,854
Darden Restaurants, Inc.			5,176		221,429

SC INVESCO SMALL CAP GROWTH FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code**	Shares		Value
Jack In The Box, Inc.*			11,508	$	246,731
P.F. Chang’s China Bistro, Inc.			7,128		329,314
Penn National Gaming, Inc.*			8,683		257,104
WMS Industries, Inc.*			5,446		207,329
					1,920,418
HOUSEHOLD PRODUCTS – 0.9%
Church & Dwight Co., Inc.			4,081		265,020
INSURANCE – 1.4%
Brown & Brown, Inc.			6,983		140,987
ProAssurance Corp.*			4,287		246,888
					387,875
INTERNET SOFTWARE & SERVICES – 2.6%
GSI Commerce, Inc.*			7,590		187,473
Open Text Corp.*	CA		4,932		232,001
The Knot, Inc.*			14,750		134,668
VistaPrint NV*	NL		4,359		168,475
					722,617
IT SERVICES – 2.1%
Alliance Data Systems Corp.*			3,161		206,287
Global Payments, Inc.			4,423		189,702
SRA International, Inc.*			10,112		199,409
					595,398
LEISURE EQUIPMENT & PRODUCTS – 0.6%
Pool Corp.			8,402		168,628
LIFE SCIENCES TOOLS & SERVICES – 2.2%
Parexel International Corp.*			9,289		214,855
PerkinElmer, Inc.			9,553		221,056
Techne Corp.			3,096		191,116
					627,027
MACHINERY – 3.2%
Bucyrus International, Inc.			4,344		301,256
Kaydon Corp.			5,457		188,812
Lindsay Corp.			3,511		152,097
Wabtec Corp.			5,339		255,151
					897,316
MEDIA – 1.4%
DreamWorks Animation SKG, Inc., Class A*			5,644		180,100
National CineMedia, Inc.			11,967		214,209
					394,309
METALS & MINING – 0.6%
Carpenter Technology Corp.			5,339		179,978
MULTI-LINE RETAIL – 0.8%
Big Lots, Inc.*			7,126		236,939
OIL, GAS & CONSUMABLE FUELS – 2.6%
Bill Barrett Corp.*			5,594		201,384
Carrizo Oil & Gas, Inc.*			8,192		196,116
Goodrich Petroleum Corp.*			6,843		99,703
SandRidge Energy, Inc.*			38,616		219,339
					716,542

	Country Code**	Shares		Value
PERSONAL PRODUCTS – 0.8%
Nu Skin Enterprises, Inc.			8,140	$	234,432
PHARMACEUTICALS – 3.0%
Medicis Pharmaceutical Corp., Class A			8,457		250,750
Perrigo Co.			3,853		247,440
Valeant Pharmaceuticals International, Inc.	CA		13,180		330,159
					828,349
PROFESSIONAL SERVICES – 1.2%
Costar Group, Inc.*			6,996		340,775
REAL ESTATE INVESTMENT TRUSTS – 0.7%
BioMed Realty Trust, Inc.			11,639		208,571
ROAD & RAIL – 1.1%
Knight Transportation, Inc.			16,604		320,955
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT – 5.2%
Advanced Energy Industries, Inc.*			16,025		209,287
Cymer, Inc.*			3,630		134,600
Hittite Microwave Corp.*			4,929		234,867
Microsemi Corp.*			11,740		201,341
ON Semiconductor Corp.*			25,054		180,639
Power Integrations, Inc.			5,472		173,955
Semtech Corp.*			5,955		120,231
Volterra Semiconductor Corp.*			9,274		199,577
					1,454,497
SOFTWARE – 10.2%
ANSYS, Inc.*			4,904		207,194
Aspen Technology, Inc.*			17,811		184,700
Commvault Systems, Inc.*			9,291		241,845
Fair Issac Corp.			2,196		54,153
Informatica Corp.*			15,319		588,403
Lawson Software, Inc.*			30,129		255,193
MICROS Systems, Inc.*			6,573		278,235
Nice Systems, Ltd. ADR*	IL		8,926		279,294
Quest Software, Inc.*			11,900		292,621
SuccessFactors, Inc.*			11,133		279,550
Websense, Inc.*			10,912		193,579
					2,854,767
SPECIALTY RETAIL – 3.9%
Chico’s FAS, Inc.			14,244		149,847
Group 1 Automotive, Inc.*			7,037		210,266
Gymboree Corp.*			4,215		175,091
Tractor Supply Co.			6,092		241,609
Williams-Sonoma, Inc.			9,695		307,331
					1,084,144
TEXTILES, APPAREL & LUXURY GOODS – 2.4%
Maidenform Brands, Inc.*			7,635		220,270
Steven Madden Ltd.*			5,961		244,759
Warnaco Group, Inc.*			4,309		220,319
					685,348

SC INVESCO SMALL CAP GROWTH FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code**	Shares		Value
TRADING COMPANIES & DISTRIBUTORS – 0.6%
Watsco, Inc.			3,156	$	175,726
WIRELESS TELECOMMUNICATION SERVICES – 1.3%
SBA Communications Corp.*			8,928		359,798
Total Common Stocks (Cost $24,100,608)					27,449,622
		Principal Amount (000)
SHORT TERM INVESTMENTS – 6.7%
REPURCHASE AGREEMENTS – 6.7%
State Street Bank and Trust Company, 0.01%, dated 9/30/10, due 10/1/10 (collateralized by $1,830,000 U.S. Treasury Note, 2.125%, 5/31/15, with a value of $1,920,951, total to be received $1,878,448) (Amortized cost $1,878,447)		$	1,878		1,878,447
TOTAL INVESTMENTS – 104.7% (Cost $25,979,055)					29,328,069
Liabilities in excess of other assets – (4.7)%					(1,310,811	)
NET ASSETS – 100.0%				$	28,017,258

ADR American Depositary Receipt

CA Canada

IL Israel

NL Netherlands

* Non-income producing security.

** Unless otherwise noted the issuer country code for all securities is United States.

SC INVESCO SMALL CAP GROWTH FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

(1) Fair Value Measurements †

The following table summarizes the inputs used to value the Fund’s assets and liabilities, as applicable, measured at fair value at the period end:

Assets	Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Common Stocks (a)	$	27,449,622	$	—	$	—	$	27,449,622
Short Term Investments
Repurchase Agreements		—		1,878,447		—		1,878,447
Total Investments	$	27,449,622	$	1,878,447	$	—	$	29,328,069

† See Note 2b in the Notes to Portfolios of Investments for additional information.

(a) See Portfolio of Investments for additional detailed categorizations.

SC ALLIANCEBERNSTEIN INTERNATIONAL VALUE FUND

PORTFOLIO OF INVESTMENTS

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code**	Shares		Value
COMMON STOCKS – 96.5%
AEROSPACE & DEFENSE – 1.1%
BAE Systems PLC	GB		125,500	$	674,837
Bombardier, Inc.	CA		41,100		201,725
					876,562
AIRLINES – 0.5%
British Airways PLC*	GB		101,700		387,898
AUTO COMPONENTS – 0.7%
NGK SPARK PLUG Co., Ltd.	JP		20,000		267,609
Sumitomo Rubber Industries, Ltd.	JP		27,900		272,383
					539,992
AUTOMOBILES – 2.6%
Bayerische Motoren Werke AG	DE		12,100		848,520
Nissan Motor Co., Ltd.	JP		78,300		683,765
Renault SA*	FR		12,400		638,053
					2,170,338
BEVERAGES – 0.3%
Asahi Breweries, Ltd.	JP		13,000		260,062
BUILDING PRODUCTS – 0.7%
Asahi Glass Co., Ltd.	JP		53,000		540,285
CAPITAL MARKETS – 2.2%
Credit Suisse Group AG	CH		8,600		367,577
Deutsche Bank AG	DE		11,700		640,314
Macquarie Group, Ltd.	AU		9,600		336,545
UBS AG*	CH		27,421		465,458
					1,809,894
CHEMICALS – 2.8%
Agrium, Inc.	CA		7,000		525,221
Air Water, Inc.	JP		25,000		297,077
Arkema SA	FR		6,800		347,907
BASF SE	DE		6,700		422,483
Clariant AG*	CH		22,500		329,034
Nippon Shokubai Co., Ltd.	JP		21,000		182,630
Zeon Corp.	JP		29,000		240,393
					2,344,745
COMMERCIAL BANKS – 12.8%
Australia & New Zealand Banking Group, Ltd.	AU		39,000		892,628
Banco do Brasil SA	BR		8,100		153,814
Bank of China Ltd.	CN		182,000		95,939
Bank of Queensland Ltd.	AU		25,900		280,377
Barclays PLC	GB		182,000		856,567
Bendigo and Adelaide Bank Ltd.	AU		22,800		201,642
BNP Paribas	FR		17,519		1,245,965
Danske Bank A/S*	DK		23,500		566,995
DnB NOR ASA	NO		41,000		558,063
HSBC Holdings PLC	GB		80,125		811,851
KB Financial Group, Inc. ADR	KR		4,047		173,495
KBC GROEP NV*	BE		9,800		439,606

	Country Code**	Shares		Value
Mitsubishi UFJ Financial Group, Inc.	JP		40,100	$	186,858
National Australia Bank, Ltd.	AU		46,800		1,146,243
National Bank of Canada	CA		5,000		315,531
Societe Generale	FR		11,554		665,479
Sumitomo Mitsui Financial Group, Inc.	JP		21,800		635,093
Turkiye Garanti Bankasi AS	TR		36,100		209,630
Turkiye Is Bankasi, C Shares	TR		19,011		80,825
Turkiye Vakiflar Bankasi T.A.O.	TR		42,900		130,490
UniCredit SpA	IT		337,068		860,658
					10,507,749
COMMERCIAL SERVICES & SUPPLIES – 0.7%
Rentokil Initial PLC*	GB		176,200		285,096
Toppan Printing Co., Ltd.	JP		35,000		273,778
					558,874
COMMUNICATIONS EQUIPMENT – 0.3%
Nokia Oyj	FI		28,500		286,344
COMPUTERS & PERIPHERALS – 1.4%
Fujitsu, Ltd.	JP		46,000		322,904
NEC Corp.	JP		69,000		183,493
Toshiba Corp.	JP		141,000		682,367
					1,188,764
CONSTRUCTION & ENGINEERING – 1.1%
Bouygues SA	FR		20,500		879,900
CONSTRUCTION MATERIALS – 0.3%
Boral Ltd.	AU		59,800		266,456
CONSUMER FINANCE – 0.5%
Orix Corp.	JP		5,750		439,447
CONTAINERS & PACKAGING – 0.7%
Amcor, Ltd.	AU		58,500		368,096
Smurfit Kappa Group PLC*	IE		20,600		207,814
					575,910
DISTRIBUTORS – 0.4%
Inchcape PLC*	GB		61,800		302,700
DIVERSIFIED FINANCIAL SERVICES – 0.4%
Challenger Financial Services Group Ltd.	AU		70,400		287,831
DIVERSIFIED TELECOMMUNICATION SERVICES – 5.0%
BT Group PLC	GB		157,000		345,284
Deutsche Telekom AG	DE		16,800		229,828
France Telecom SA	FR		33,600		726,013
Nippon Telegraph & Telephone Corp.	JP		15,000		654,947
Telecom Corp. of New Zealand, Ltd.	NZ		114,582		171,661
Telecom Italia SpA	IT		421,200		588,556
Telecom Italia SpA RSP	IT		163,600		184,332
Telefonica SA	ES		32,800		812,241

SC ALLIANCEBERNSTEIN INTERNATIONAL VALUE FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code**	Shares		Value
Telstra Corp., Ltd.	AU		146,200	$	370,231
					4,083,093
ELECTRIC UTILITIES – 3.8%
E.ON AG	DE		33,300		981,921
Electricite de France	FR		12,400		534,852
Enel SpA	IT		47,928		255,471
Kyushu Electric Power Co., Inc.	JP		19,500		445,220
The Kansai Electric Power Co., Inc.	JP		16,800		407,925
The Tokyo Electric Power Co., Inc.	JP		22,000		536,560
					3,161,949
ELECTRICAL EQUIPMENT – 0.3%
Sumitomo Electric Industries Ltd.	JP		17,400		212,185
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS – 0.3%
AU Optronics Corp. ADR*	TW		7,374		77,132
Hitachi, Ltd.	JP		41,000		179,265
					256,397
ENERGY EQUIPMENT & SERVICES – 0.8%
Compagnie Generale de Geophysique-Veritas*	FR		16,400		359,953
Petroleum Geo-Services ASA*	NO		24,650		281,030
					640,983
FOOD & STAPLES RETAILING – 2.1%
Aeon Co., Ltd.	JP		21,800		233,982
Carrefour SA	FR		3,600		193,437
Casino Guichard-Perrachon SA	FR		3,210		293,895
Delhaize Group	BE		7,600		551,189
Koninklijke Ahold NV	NL		36,600		493,361
					1,765,864
FOOD PRODUCTS – 1.7%
Ajinomoto Co., Inc.	JP		27,000		264,243
Nestle SA	CH		17,116		911,843
Premier Foods PLC*	GB		218,000		55,718
Tate & Lyle PLC	GB		27,500		201,656
					1,433,460
GAS UTILITIES – 0.5%
Tokyo Gas Co., Ltd.	JP		87,000		394,981
HEALTH CARE PROVIDERS & SERVICES – 0.4%
Medipal Holdings Corp.	JP		26,600		338,076
HOTELS, RESTAURANTS & LEISURE – 0.5%
Mitchells & Butlers PLC*	GB		39,925		182,196
Thomas Cook Group PLC	GB		42,500		114,699
Tui Travel PLC	GB		40,000		134,721
					431,616
HOUSEHOLD DURABLES – 2.0%
Electrolux AB, Series B	SE		18,100		445,763
Sharp Corp.	JP		52,000		517,633

	Country Code**		Shares		Value
Sony Corp.		JP		22,800	$	704,921
						1,668,317
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS – 0.4%
Drax Group PLC		GB		50,000		301,063
INDUSTRIAL CONGLOMERATES – 0.9%
Cookson Group PLC*		GB		36,400		312,779
Koninklijke Philips Electronics NV		NL		6,820		214,351
Siemens AG		DE		1,900		200,557
						727,687
INSURANCE – 4.3%
Allianz SE		DE		10,150		1,147,087
Aviva PLC		GB		101,700		637,284
Insurance Australia Group, Ltd.		AU		68,000		239,240
Legal & General Group PLC		GB		257,200		418,177
Muenchener Rueckversicherungs AG		DE		4,950		685,606
Old Mutual PLC		GB		193,600		422,127
						3,549,521
IT SERVICES – 1.1%
Cap Gemini SA		FR		11,600		581,944
Logica PLC		GB		171,500		341,611
						923,555
LEISURE EQUIPMENT & PRODUCTS – 0.1%
Namco Bandai Holdings, Inc.		JP		10,600		98,280
MACHINERY – 1.2%
Cargotec Oyj, B Shares		FI		6,500		280,898
Charter International PLC		JE		26,200		285,633
Vallourec SA		FR		4,058		403,122
						969,653
MEDIA – 1.5%
Informa PLC		JE		61,300		403,384
Vivendi		FR		30,870		843,775
						1,247,159
METALS & MINING – 7.5%
BHP Billiton PLC		GB		17,900		569,412
BHP Billiton, Ltd.		AU		5,000		188,042
JFE Holdings, Inc.		JP		15,800		483,198
Kazakhmys PLC		GB		19,900		453,908
KGHM Polska Miedz SA		PL		3,000		121,059
Lundin Mining Corp.*		CA		71,400		356,688
Mitsubishi Materials Corp.*		JP		123,000		353,618
Rio Tinto PLC		GB		26,300		1,537,318
ThyssenKrupp AG		DE		18,700		609,787
Vale SA ADR		BR		4,100		113,775
Xstrata PLC		GB		72,640		1,389,862
						6,176,667
MULTI-LINE RETAIL – 1.4%
Marks & Spencer Group PLC		GB		93,000		566,990
PPR		FR		3,400		550,412
						1,117,402

SC ALLIANCEBERNSTEIN INTERNATIONAL VALUE FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code**		Shares		Value
MULTI-UTILITIES – 0.2%
RWE AG		DE		2,670	$	180,356
OFFICE ELECTRONICS – 0.3%
Konica Minolta Holdings, Inc.		JP		29,500		287,650
OIL, GAS & CONSUMABLE FUELS – 9.2%
BP PLC		GB		231,300		1,554,407
China Petroleum & Chemical Corp.		CN		142,000		125,916
Eni SpA		IT		16,500		356,074
Gazprom OAO ADR		RU		3,700		77,515
JX Holdings, Inc.		JP		92,900		538,615
Lukoil ADR		RU		2,100		119,070
Nexen, Inc.		CA		26,939		541,974
OMV AG		AT		10,900		408,040
Penn West Energy Trust		CA		23,968		480,338
Royal Dutch Shell PLC, A Shares		GB		69,000		2,087,286
Suncor Energy, Inc.		CA		14,596		475,232
Total SA		FR		14,400		742,143
Yanzhou Coal Mining Co. Ltd.		CN		44,000		107,975
						7,614,585
PAPER & FOREST PRODUCTS – 0.7%
Mondi PLC		GB		42,000		339,456
Oji Paper Co., Ltd.		JP		55,000		243,112
						582,568
PHARMACEUTICALS – 7.5%.
Astellas Pharma, Inc.		JP		5,200		187,806
AstraZeneca PLC		GB		25,100		1,274,955
Bayer AG		DE		13,200		920,439
GlaxoSmithKline PLC		GB		39,700		782,365
Novartis AG		CH		24,050		1,379,146
Roche Holding AG		CH		3,800		518,964
Sanofi-Aventis SA		FR		16,300		1,086,050
						6,149,725
PROFESSIONAL SERVICES – 0.3%
Randstad Holding NV*		NL		5,911		268,539
REAL ESTATE MANAGEMENT & DEVELOPMENT – 2.3%
Great Eagle Holdings Ltd.		BM		66,000		200,326
Lend Lease Group		AU		14,000		102,976
Mitsui Fudosan Co., Ltd.		JP		34,000		573,455
New World Development, Ltd.		HK		188,939		379,882
NTT Urban Development Corp.		JP		314		264,049
Sumitomo Realty & Development Co., Ltd.		JP		20,000		413,273
						1,933,961
ROAD & RAIL – 1.6%
Central Japan Railway Co.		JP		34		250,072
East Japan Railway Co.		JP		7,900		476,953
FirstGroup PLC		GB		43,700		249,056
West Japan Railway Co.		JP		87		312,024
						1,288,105

	Country Code**		Shares		Value
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT – 0.3%
Samsung Electronics Co., Ltd. GDR		KR		750	$	257,250
SPECIALTY RETAIL – 0.5%
Esprit Holdings Ltd.		BM		77,207		418,432
TOBACCO – 2.6%
British American Tobacco PLC		GB		21,800		813,162
Imperial Tobacco Group PLC		GB		21,800		649,639
Japan Tobacco, Inc.		JP		196		652,473
						2,115,274
TRADING COMPANIES & DISTRIBUTORS – 3.3%
ITOCHU Corp.		JP		46,000		420,987
Mitsubishi Corp.		JP		31,300		742,756
Mitsui & Co., Ltd.		JP		49,700		739,427
Noble Group Ltd.		BM		262,727		377,579
Rexel SA*		FR		25,500		456,611
						2,737,360
WIRELESS TELECOMMUNICATION SERVICES – 2.4%
KDDI Corp.		JP		90		430,702
Vodafone Group PLC		GB		623,800		1,539,465
						1,970,167
Total Common Stocks (Cost $72,493,491)						79,525,631
EQUITY LINKED SECURITIES – 0.4%
COMMERCIAL BANKS – 0.1%
Hana Financial Group, Inc. (Deutsche Bank AG), expires 11/18/19*(1)		DE		3,400		100,640
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS – 0.0%+
AU Optronics Corp., (Credit Suisse Group AG), expires 2/17/12*		CH		19,947		20,745
METALS & MINING – 0.2%
Tata Steel Ltd., (Merrill Lynch & Co., Inc.), expires 12/23/14*(1)				7,300		106,779
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT – 0.1%
United Microelectronics Corp., (JP Morgan Chase & Co.), expires 9/29/14*(1)				202,400		89,056
Total Equity Linked Securities (Cost $316,814)						317,220
SHORT TERM INVESTMENTS – 1.6%
MUTUAL FUNDS – 1.6%
AllianceBernstein Government Short Term Investment Fund (Cost $1,354,665)				1,354,665		1,354,665

SC ALLIANCEBERNSTEIN INTERNATIONAL VALUE FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Value
TOTAL INVESTMENTS – 98.5% (Cost $74,164,970)	$	81,197,516
Other assets less liabilities – 1.5%		1,204,718
NET ASSETS – 100.0%	$	82,402,234

ADR American Depositary Receipt

GDR Global Depositary Receipt

AT Austria

AU Australia

BE Belgium

BM Bermuda

BR Brazil

CA Canada

CH Switzerland

CN China

DE Germany

DK Denmark

ES Spain

FI Finland

FR France

GB Great Britain

HK Hong Kong

IE Ireland

IT Italy

JE Jersey

JP Japan

KR Korea, Republic of

NL Netherlands

NO Norway

NZ New Zealand

PL Poland

RU Russia

SE Sweden

TR Turkey

TW Taiwan, Province of China

* Non-income producing security.

** Unless otherwise noted the issuer country code for all securities is United States.

+ Amount is less than 0.05%.

(1) Eligible for resale under rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the period end, the value of these securities amounted to $296,475, representing 0.4% of net assets.

SC ALLIANCEBERNSTEIN INTERNATIONAL VALUE FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

Distribution of investments by country of issuer, as a percentage of net assets, is as follows. Figures may not total to 100% due to the exclusion of the Fund’s other assets and liabilities.

Great Britain	25.0	%
Japan	21.6
France	12.8
Germany	8.5
Australia	5.7
Switzerland	4.8
Canada	3.5
Italy	2.7
Other (individually less than 2%)	13.9

SC ALLIANCEBERNSTEIN INTERNATIONAL VALUE FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

(2) At the period end, cash of $48,200 has been pledged to cover margin requirements for the following open futures contracts:

Type	Description	Expiration Date	Contracts		Aggregate Face Value ($)		Aggregate Notional Value ($)		Unrealized Appreciation / (Depreciation) ($)
Long	DJ Euro Stoxx 50 Index December Futures	12/17/10		14		534,419		522,561		(11,858	)
Long	Topix Index December Futures	12/10/10		3		293,162		297,017		3,855
Net unrealized depreciation										(8,003	)

(3) At the period end, open forward foreign currency exchange contracts were as follows:

Counterparty	Contracts to Deliver			In Exchange For			Settlement Date		Unrealized Depreciation ($)
State Street Bank		CAD	252,000		USD	238,727		11/15/10		(5,958	)
State Street Bank		CAD	712,000		USD	678,270		11/15/10		(13,062	)
Net unrealized depreciation										(19,020	)

CAD - Canadian Dollar

USD - United States Dollar

SC ALLIANCEBERNSTEIN INTERNATIONAL VALUE FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

(4) Fair Value Measurements †

The following table summarizes the inputs used to value the Fund’s assets and liabilities, as applicable, measured at fair value at the period end:

Assets	Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)		Total
Common Stocks (a)	$	79,525,631		$	—		$	—	$	79,525,631
Equity Linked Securities (a)		—			317,220			—		317,220
Short Term Investments
Mutual Funds		1,354,665			—			—		1,354,665
Total Investments		80,880,296			317,220			—		81,197,516
Financial Derivative Instruments
Futures Contracts		3,855			—			—		3,855
Total Financial Derivative Instruments	$	3,855		$	—		$	—	$	3,855
Liabilities
Financial Derivative Instruments
Forward Foreign Currency Exchange Contracts	$	—		$	(19,020	)	$	—	$	(19,020	)
Futures Contracts		(11,858	)		—			—		(11,858	)
Total Financial Derivative Instruments	$	(11,858	)	$	(19,020	)	$	—	$	(30,878	)

† See Note 2b in the Notes to Portfolios of Investments for additional information.

(a) See Portfolio of Investments for additional detailed categorizations.

During the period ended September 30, 2010, SC AllianceBernstein International Value Fund had securities with a total value of $52,952,927 transferred from Level 2 to Level 1 as a result of the fair value pricing techniques for international equities utilized by the Fund. The Fund recognizes transfers between the fair value measurement levels as of the beginning of the period.

SC BLACKROCK INFLATION PROTECTED BOND FUND

PORTFOLIO OF INVESTMENTS

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Country Code*		Principal Amount (000)		Value
ASSET BACKED SECURITIES – 0.2%
Bank of America Credit Card Trust, Series 2007-A2, Class A2 0.28%, 6/17/13(1)			$	490	$	489,806
Bank of America Credit Card Trust, Series 2008-A5, Class A5 1.46%, 12/16/13(1)				143		144,142
Capital One Auto Finance Trust, Series 2006-C, Class A4 0.29%, 5/15/13(1)				207		206,149
Total Asset Backed Securities (Cost $833,581)						840,097
CORPORATE DEBT OBLIGATIONS – 0.3%
BANKS – 0.2%
Suncorp-Metway Ltd. 0.67%, 12/17/10(1)(2)		AU		650		650,293
TELECOMMUNICATIONS – 0.1%
Verizon Wireless Capital LLC 2.95%, 5/20/11(1)				395		401,577
Total Corporate Debt Obligations (Cost $1,045,000)						1,051,870
FOREIGN GOVERNMENT OBLIGATIONS – 10.4%
Deutsche Bundesrepublik Inflation Linked Bond 1.50%, 4/15/16		DE		11,650		17,049,005
France Government Bond 1.60%, 7/25/15		FR		11,986		17,493,228
Hellenic Republic Government Bond 2.30%, 7/25/30		GR		748		504,204
Total Foreign Government Obligations (Cost $33,582,319)						35,046,437
U.S. TREASURY AND U.S. GOVERNMENT AGENCY OBLIGATIONS – 75.7%
Federal Home Loan Mortgage Corp. 4.00%, 9/1/40				25,600		26,280,276
Federal National Mortgage Association 4.00%, 10/1/40				25,600		26,344,276
Government National Mortgage Association 4.00%, 9/20/40				25,400		26,296,244
U.S. Treasury Inflation Indexed Bonds 0.50%, 4/15/15				8,118		8,337,786
1.25%, 4/15/14				15,241		16,034,955
1.25%, 7/15/20				5,444		5,712,262
1.38%, 7/15/18(4)				5,207		5,569,436
1.38%, 1/15/20				3,848		4,089,301

	Country Code*	Principal Amount (000)		Value
1.63%, 1/15/15		$	156	$	167,160
1.63%, 1/15/18			3,720		4,036,222
1.75%, 1/15/28			16,586		17,579,570
1.88%, 7/15/13			4,465		4,745,981
1.88%, 7/15/15			4,481		4,871,377
1.88%, 7/15/19			10,833		12,007,851
2.00%, 4/15/12			2,611		2,701,229
2.00%, 7/15/14			1,446		1,563,628
2.00%, 1/15/16			13,376		14,659,746
2.00%, 1/15/26			6,366		7,000,533
2.13%, 2/15/40			15,772		17,624,496
2.38%, 1/15/17			8,968		10,109,062
2.38%, 1/15/25			8,470		9,739,336
2.38%, 1/15/27			6,915		7,982,514
2.50%, 7/15/16			51		57,460
2.50%, 1/15/29			4,356		5,138,900
3.00%, 7/15/12			3,250		3,450,591
3.38%, 1/15/12			589		617,144
3.38%, 4/15/32			1,027		1,386,651
3.50%, 1/15/11			1,015		1,023,721
3.63%, 4/15/28			257		344,358
3.88%, 4/15/29(3)			7,533		10,474,927
Total U.S. Treasury and U.S. Government Agency Obligations (Cost $247,229,293)					255,946,993
		Shares
SHORT TERM INVESTMENTS – 13.4%
MUTUAL FUNDS – 13.4%
BlackRock Liquidity Funds TempFund			22,679,041		22,679,041
State Street Institutional U.S. Government Money Market Fund			22,679,041		22,679,041
Total Short Term Investments (Cost $45,358,082)					45,358,082
TOTAL INVESTMENTS – 100.0% (Cost $328,048,275)					338,243,479
Liabilities in excess of other assets – 0.0%+					(51,868	)
NET ASSETS – 100.0%				$	338,191,611

AU Australia

DE Germany

FR France

GR Greece

* Unless otherwise noted the issuer country code for all securities is United States.

+ Amount is less than 0.05%.

(1) Variable rate security. The interest rate shown reflects the rate in effect at the period end.

SC BLACKROCK INFLATION PROTECTED BOND FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

(2) Eligible for resale under rule 144A of the Securities Act of 1933. This security may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the period end, the value of this security amounted to $650,293, representing 0.2% of net assets.

(3) Security (or a portion thereof) has been pledged as collateral for open swap and swaption contracts. At the period end, the value of securities pledged amounted to $304,289.

SC BLACKROCK INFLATION PROTECTED BOND FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

(4) At the period end, securities (or portions thereof) with an aggregate market value of $1,000,336 have been pledged to cover margin requirements for the following open futures contracts:

Type	Description	Expiration Date		Contracts		Aggregate Face Value ($)		Aggregate Notional Value ($)		Unrealized Appreciation / (Depreciation) ($)
Short	German Euro-Bobl December Futures		12/8/10		235		38,386,350		38,639,081		(252,731	)
Long	U.S. Treasury 10 Year Note December Futures		12/21/10		310		38,820,511		39,074,532		254,021
Long	U.S. Treasury 2 Year Note December Futures		12/31/10		131		28,719,919		28,752,453		32,534
Short	U.S. Treasury 30 Year Bond December Futures		12/21/10		11		1,476,385		1,470,906		5,479
Short	U.S. Treasury 5 Year Note December Futures		12/31/10		700		83,978,303		84,607,032		(628,729	)
Short	Ultra Long U.S. Treasury Bond December Futures		12/21/10		7		986,993		988,969		(1,976	)
Net unrealized depreciation											(591,402	)

(5) At the period end, open forward foreign currency exchange contracts were as follows:

Counterparty	Contracts to Deliver		In Exchange For		Settlement Date		Unrealized Depreciation ($)
UBS AG	EUR	25,280,000	USD	33,007,666		11/17/10		(1,443,159	)

EUR - Euro

USD - United States Dollar

(6) At the period end, open written option contracts were as follows:

Interest Rate Swaptions

Type

Description

Counterparty

Pay/Receive Floating Rate

Floating Rate

Exercise Rate

Expiration Date

Notional Amount (000) ($)

Value ($)

Call

OTC -10 Year Interest Rate Swap

Citibank NA

Receive

3-Month USD-LIBOR

2.28

%

12/14/10

5,100

24,905

Put

OTC -10 Year Interest Rate Swap

Citibank NA

Pay

3-Month USD-LIBOR

3.28

%

12/14/10

5,100

12,358

Written swaptions (Premium received, $53,550)

10,200

37,263

LIBOR - London Interbank Offered Rate

OTC - Over the Counter

USD - United States Dollar

(7) At the period end, open swap contracts were as follows:

Interest Rate Swap Contracts

Counterparty	Pay/Receive Floating Rate	Floating Rate Index	Fixed Rate			Expiration Date		Notional Amount (000) ($)		Market Value ($)			Unrealized Appreciation / (Depreciation) ($)
Barclays Bank PLC*	Receive	3-Month USD-LIBOR		2.12	%		7/16/15		18,000		(566,631	)		(566,631	)
Citibank NA	Receive	3-Month USD-LIBOR		0.79	%		7/26/12		11,400		(47,347	)		(47,347	)
Citibank NA	Pay	3-Month USD-LIBOR		2.26	%		6/21/15		19,600		755,086			755,086

SC BLACKROCK INFLATION PROTECTED BOND FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

(Continued)

Counterparty	Pay/ Receive Floating Rate		Floating Rate Index		Fixed Rate			Expiration Date		Notional Amount (000) ($)		Market Value ($)			Unrealized Appreciation / (Depreciation) ($)
Citibank NA		Receive		3-Month USD- LIBOR		3.58	%		5/12/20		8,000		(746,022	)		(746,022	)
Citibank NA		Receive		3-Month USD- LIBOR		3.59	%		12/14/19		500		(47,869	)		(47,869	)
Citibank NA		Receive		3-Month USD- LIBOR		4.26	%		8/26/20		3,300		(505,675	)		(505,675	)
Deutsche Bank AG		Receive		3-Month USD- LIBOR		0.83	%		7/27/12		21,000		(99,222	)		(99,222	)
Deutsche Bank AG		Receive		3-Month USD- LIBOR		3.64	%		3/8/20		6,900		(683,516	)		(683,516	)
Deutsche Bank AG		Pay		3-Month USD- LIBOR		3.69	%		2/9/20		6,400		663,820			663,820
Deutsche Bank AG		Pay		3-Month USD- LIBOR		3.75	%		5/4/20		9,900		1,073,468			1,073,468
Deutsche Bank AG		Receive		3-Month USD- LIBOR		3.94	%		4/9/20		7,500		(936,931	)		(936,931	)
Total											112,500		(1,140,839	)		(1,140,839	)

Total Return Swap Contracts

Pay/Receive Total Return on Reference Entity	Counterparty	Reference Entity	Number of Shares or Units	Floating Rate	Notional Amount (000) ($)	Maturity Date	Market Value ($)	Unrealized Appreciation ($)
Receive	Barclays Bank PLC*	Barclays Capital Inflation Linked Index	349,756	1-Month USD-LIBOR	84,578	10/21/10	1,049,268	1,049,268

* At the period end, the broker pledged a security with a fair value of $723,006 to the Fund as collateral for these open swap contracts.

LIBOR - London Interbank Offered Rate

USD - United States Dollar

SC BLACKROCK INFLATION PROTECTED BOND FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

(8) Fair Value Measurements †

The following table summarizes the inputs used to value the Fund’s assets and liabilities, as applicable, measured at fair value at the period end:

Assets	Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)		Total
Asset Backed Securities	$	—		$	840,097		$	—	$	840,097
Corporate Debt Obligations (a)		—			1,051,870			—		1,051,870
Foreign Government Obligations		—			35,046,437			—		35,046,437
U.S. Treasury and U.S. Government Agency Obligations		177,026,197			78,920,796			—		255,946,993
Short Term Investments
Mutual Funds		45,358,082			—			—		45,358,082
Total Investments		222,384,279			115,859,200			—		338,243,479
Financial Derivative Instruments
Futures Contracts		292,034			—			—		292,034
Swap Contracts		—			3,541,642			—		3,541,642
Total Financial Derivative Instruments	$	292,034		$	3,541,642		$	—	$	3,833,676
Liabilities
Financial Derivative Instruments
Forward Foreign Currency Exchange Contracts	$	—		$	(1,443,159	)	$	—	$	(1,443,159	)
Futures Contracts		(883,436	)		—			—		(883,436	)
Swap Contracts		—			(3,633,213	)		—		(3,633,213	)
Written Swaption Contracts		—			(37,263	)		—		(37,263	)
Total Financial Derivative Instruments	$	(883,436	)	$	(5,113,635	)	$	—	$	(5,997,071	)

† See Note 2b in the Notes to Portfolios of Investments for additional information.

(a) See Portfolio of Investments for additional detailed categorizations.

SC IBBOTSON MODERATE FUND

PORTFOLIO OF INVESTMENTS

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Shares		Value
INVESTMENT COMPANIES(1) – 99.9%
MFS International Growth Portfolio		2,165,723	$	27,439,716
MFS Research International Portfolio		1,084,847		13,723,319
MFS Value Portfolio		2,907,907		36,988,581
SC AllianceBernstein International Value Fund		2,166,351		20,645,325
SC BlackRock Inflation Protected Bond Fund		8,051,314		86,873,681
SC Columbia Small Cap Value Fund		1,081,242		10,369,111
SC Davis Venture Value Fund		3,236,320		35,340,609
SC Goldman Sachs Mid Cap Value Fund		4,037,104		34,194,272
SC Goldman Sachs Short Duration Fund		12,287,824		127,424,732
SC Lord Abbett Growth & Income Fund		2,263,508		16,908,404
SC Oppenheimer Large Cap Core Fund		2,414,453		20,402,129
SC PIMCO High Yield Fund		3,387,483		33,298,955
SC PIMCO Total Return Fund		7,382,993		87,119,323
SC WMC Blue Chip Mid Cap Fund		1,422,768		18,794,761
SC WMC Large Cap Growth Fund		3,664,630		31,369,234
Sun Capital Investment Grade Bond Fund		8,129,562		77,312,138
Total Investment Companies (Cost $632,409,291)				678,204,290

	Principal Amount (000)
SHORT TERM INVESTMENTS – 0.1%
REPURCHASE AGREEMENTS – 0.1%
State Street Bank and Trust Company, 0.01%, dated 9/30/10, due 10/1/10 (collateralized by $680,000 U.S. Treasury Note, 2.125%, 5/31/15, with a value of $713,796, total to be received $698,840) (Amortized cost $698,840)	$	699		698,840
TOTAL INVESTMENTS – 100.0% (Cost $633,108,131)				678,903,130
Other assets less liabilities – 0.0%+				271,882
NET ASSETS – 100.0%			$	679,175,012

+ Amount is less than 0.05%.

(1) Sun Capital Advisers LLC or its affiliate, Massachusetts Financial Services Company (“MFS”), serves as investment adviser to these underlying funds. These are affiliated securities.

SC IBBOTSON MODERATE FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

(2) Fair Value Measurements †

The following table summarizes the inputs used to value the Fund’s assets and liabilities, as applicable, measured at fair value at the period end:

Assets	Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Investment Companies	$	678,204,290	$	—	$	—	$	678,204,290
Short Term Investments
Repurchase Agreements		—		698,840		—		698,840
Total Investments	$	678,204,290	$	698,840	$	—	$	678,903,130

† See Note 2b in the Notes to Portfolios of Investments for additional information.

SC IBBOTSON BALANCED FUND

PORTFOLIO OF INVESTMENTS

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Shares		Value
INVESTMENT COMPANIES(1) – 99.8%
MFS Emerging Markets Equity Portfolio		1,477,791	$	24,206,214
MFS International Growth Portfolio		5,685,817		72,039,304
MFS Research International Portfolio		2,841,005		35,938,716
MFS Value Portfolio		8,460,758		107,620,848
SC AllianceBernstein International Value Fund		3,772,097		35,948,082
SC BlackRock Inflation Protected Bond Fund		7,757,872		83,707,441
SC Columbia Small Cap Value Fund		2,231,045		21,395,722
SC Davis Venture Value Fund		7,940,508		86,710,342
SC Goldman Sachs Mid Cap Value Fund		7,107,092		60,197,073
SC Goldman Sachs Short Duration Fund		12,755,156		132,270,972
SC Invesco Small Cap Growth Fund		1,266,520		12,209,256
SC Lord Abbett Growth & Income Fund		4,787,925		35,765,799
SC Oppenheimer Large Cap Core Fund		7,091,638		59,924,345
SC PIMCO High Yield Fund		4,908,017		48,245,808
SC PIMCO Total Return Fund		11,238,737		132,617,091
SC WMC Blue Chip Mid Cap Fund		2,734,881		36,127,783
SC WMC Large Cap Growth Fund		8,819,713		75,496,745
Sun Capital Global Real Estate Fund		3,328,208		36,310,750
Sun Capital Investment Grade Bond Fund		11,438,219		108,777,463
Total Investment Companies (Cost $1,121,468,458)				1,205,509,754

	Principal Amount (000)
SHORT TERM INVESTMENTS – 0.3%
REPURCHASE AGREEMENTS – 0.3%
State Street Bank and Trust Company, 0.01%, dated 9/30/10, due 10/1/10 (collateralized by $2,895,000 U.S. Treasury Note, 2.125%, 5/31/15, with a value of $3,038,882, total to be received $2,978,688) (Amortized cost $2,978,687)	$	2,979	2,978,687

	Value
TOTAL INVESTMENTS – 100.1% (Cost $1,124,447,145)	$	1,208,488,441
Liabilities in excess of other assets – (0.1)%		(1,004,832	)
NET ASSETS – 100.0%	$	1,207,483,609

(1) Sun Capital Advisers LLC or its affiliate, MFS, serves as investment adviser to these underlying funds. These are affiliated securities.

SC IBBOTSON BALANCED FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

(2) Fair Value Measurements †

The following table summarizes the inputs used to value the Fund’s assets and liabilities, as applicable, measured at fair value at the period end:

Assets	Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Investment Companies	$	1,205,509,754	$	—	$	—	$	1,205,509,754
Short Term Investments
Repurchase Agreements		—		2,978,687		—		2,978,687
Total Investments	$	1,205,509,754	$	2,978,687	$	—	$	1,208,488,441

† See Note 2b in the Notes to Portfolios of Investments for additional information.

SC IBBOTSON GROWTH FUND

PORTFOLIO OF INVESTMENTS

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

	Shares		Value
INVESTMENT COMPANIES(1) – 100.1%
MFS Emerging Markets Equity Portfolio		706,867	$	11,578,481
MFS International Growth Portfolio		3,555,102		45,043,140
MFS Research International Portfolio		1,768,303		22,369,029
MFS Value Portfolio		4,392,608		55,873,968
SC AllianceBernstein International Value Fund		2,409,588		22,963,378
SC BlackRock Inflation Protected Bond Fund		2,001,746		21,598,842
SC Columbia Small Cap Value Fund		1,010,532		9,691,003
SC Davis Venture Value Fund		5,081,584		55,490,893
SC Goldman Sachs Mid Cap Value Fund		3,525,043		29,857,113
SC Goldman Sachs Short Duration Fund		1,030,105		10,682,193
SC Invesco Small Cap Growth Fund		598,471		5,769,262
SC Lord Abbett Growth & Income Fund		3,617,298		27,021,219
SC Oppenheimer Large Cap Core Fund		4,524,085		38,228,520
SC Oppenheimer Main Street Small Cap Fund		619,518		7,081,096
SC PIMCO Total Return Fund		4,553,710		53,733,783
SC WMC Blue Chip Mid Cap Fund		1,211,121		15,998,909
SC WMC Large Cap Growth Fund		6,218,173		53,227,562
Sun Capital Global Real Estate Fund		2,590,617		28,263,631
Sun Capital Investment Grade Bond Fund		3,908,424		37,169,112
Total Investment Companies (Cost $492,537,880)				551,641,134
	Principal Amount (000)
SHORT TERM INVESTMENTS – 0.0%+
REPURCHASE AGREEMENTS – 0.0%+
State Street Bank and Trust Company, 0.01%, dated 9/30/10, due 10/1/10 (collateralized by $180,000 U.S. Treasury Note, 2.125%, 5/31/15, with a value of $188,946, total to be received $181,793) (Amortized cost $181,793)	$	182		181,793

	Value
TOTAL INVESTMENTS – 100.1% (Cost $492,719,673)	$	551,822,927
Liabilities in excess of other assets – (0.1)%		(427,293	)
NET ASSETS – 100.0%	$	551,395,634

+ Amount is less than 0.05%.

(1) Sun Capital Advisers LLC or its affiliate, MFS, serves as investment adviser to these underlying funds. These are affiliated securities.

SC IBBOTSON GROWTH FUND

PORTFOLIO OF INVESTMENTS (Continued)

September 30, 2010 (Unaudited) Sun Capital Advisers Trust                

(2) Fair Value Measurements †

The following table summarizes the inputs used to value the Fund’s assets and liabilities, as applicable, measured at fair value at the period end:

Assets	Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Investment Companies	$	551,641,134	$	—	$	—	$	551,641,134
Short Term Investments
Repurchase Agreements		—		181,793		—		181,793
Total Investments	$	551,641,134	$	181,793	$	—	$	551,822,927

† See Note 2b in the Notes to Portfolios of Investments for additional information.

Notes to Portfolios of Investments (Unaudited)

NOTE 1 – ORGANIZATION

Sun Capital Advisers Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”) as an open-end management investment company. The Trust was established as a Delaware statutory trust under the laws of Delaware by an Agreement and Declaration of Trust dated July 13, 1998. It currently consists of twenty funds (each referred to as a “Fund” and, collectively, as “the Funds”), which are offered only to variable annuity and variable life insurance separate accounts established by affiliated insurance companies to fund variable annuity contracts and variable life insurance policies. Three of the Funds (Ibbotson Moderate Fund, Ibbotson Balanced Fund and Ibbotson Growth Fund) are affiliated “Fund-of-Funds”, which invest in other Funds of the Trust and in other mutual funds managed by MFS, an affiliate of the investment adviser to each Fund of the Trust, Sun Capital Advisers LLC (“Sun Capital”).

Each of the Funds is an open-end mutual fund under the 1940 Act. Each is classified as a diversified mutual fund except for the Global Real Estate Fund and BlackRock Inflation Protected Bond Fund, which are not classified as diversified mutual funds. Each Fund offers Initial Class Shares and Service Class Shares. The Funds are:

Sun Capital Investment Grade Bond Fund (“Investment Grade Bond Fund”)

Sun Capital Money Market Fund (“Money Market Fund”)

Sun Capital Global Real Estate Fund (“Global Real Estate Fund”)

SC Davis Venture Value Fund (“Davis Venture Value Fund”)

SC Oppenheimer Main Street Small Cap Fund (“Oppenheimer Main Street Small Cap Fund”)

SC Oppenheimer Large Cap Core Fund (“Oppenheimer Large Cap Core Fund”)

SC WMC Large Cap Growth Fund (“WMC Large Cap Growth Fund”)

SC WMC Blue Chip Mid Cap Fund (“WMC Blue Chip Mid Cap Fund”)

SC Lord Abbett Growth & Income Fund (“Lord Abbett Growth & Income Fund”)

SC Goldman Sachs Mid Cap Value Fund (“Goldman Sachs Mid Cap Value Fund”)

SC Goldman Sachs Short Duration Fund (“Goldman Sachs Short Duration Fund”)

SC Columbia Small Cap Value Fund (“Columbia Small Cap Value Fund”)

SC PIMCO High Yield Fund (“PIMCO High Yield Fund”)

SC PIMCO Total Return Fund (“PIMCO Total Return Fund”)

SC Invesco Small Cap Growth Fund (“Invesco Small Cap Growth Fund”)

SC AllianceBernstein International Value Fund (“AllianceBernstein International Value Fund”)

SC BlackRock Inflation Protected Bond Fund (“BlackRock Inflation Protected Bond Fund”)

SC Ibbotson Moderate Fund (“Ibbotson Moderate Fund”)

SC Ibbotson Balanced Fund (“Ibbotson Balanced Fund”)

SC Ibbotson Growth Fund (“Ibbotson Growth Fund”)

Each Fund-of-Funds seeks to achieve its objective by investing in a portfolio of underlying affiliated funds (“underlying funds”) which, in turn, may invest in a variety of U.S. and foreign equity, fixed income, money market and derivative instruments. The Fund-of-Funds do not invest in the underlying funds for the purpose of exercising management or control; however, investments by the Fund-of-Funds, within their principal investment strategies, may represent a significant portion of the underlying funds’ net assets. Each Fund-of-Funds’ “Portfolio of Investments” lists the underlying funds held as an investment of the Fund-of-Funds as of period end, but does not include the holdings of the underlying funds. A complete list of the holdings of each underlying fund as of September 30, 2010 is available at the SEC’s website at www.sec.gov if not already provided in this report under the name of the underlying fund.

NOTE 2 – FAIR VALUATION

a) Determination of Net Asset Value

The net asset value per share (“NAV”) of each Fund is determined as of the close of regular trading on the New York Stock Exchange (normally 4:00 p.m. New York time) on each day the New York Stock Exchange is open for

business (a valuation day). If the New York Stock Exchange closes early for any reason, each Fund will accelerate the determination of its NAV to that earlier time.

b) Valuation of Investments

Valuation techniques of the Funds’ major categories of assets and liabilities are as follows:

Investments in securities and option contracts listed on the National Association of Securities Dealers Automation Quotation System (“NASDAQ”) are valued at the NASDAQ Official Closing Price on the day of valuation. Securities and option contracts listed on any other U.S. or foreign exchanges are valued at the last sale price on the exchange or system in which they are principally traded on the valuation date, or if no sales occurred on that day, at the mean between the closing bid and asked prices. Over-the-counter (OTC) equity securities not quoted on the NASDAQ are valued at the last sale price on the valuation day, or, if no sale occurs, at the mean between the last bid and asked prices. If both bid and asked prices are not available on the valuation day, the last bid price is used to value securities and purchased option contracts and the last asked price is used to value written option contracts. Debt securities are valued by a dealer or by a pricing service based upon a computerized matrix system, which considers market transactions and dealer supplied valuations. The fair value of corporate bonds is estimated using various techniques, which may consider recently executed transactions in securities of the issuer or comparable issuers, market price quotations (where observable), bond spreads, fundamental data relating to the issuer, and adjusted credit default swap spreads. The fair value of asset backed and mortgage backed securities is estimated using models that consider the future cash flows of each tranche of the entity, establish a benchmark yield, and develop an estimated tranche specific spread to the benchmark yield based on the unique attributes of the tranche. U.S. Government and agency securities are normally valued using a model that incorporates market observable data, such as reported sales of similar securities, broker quotes, yields, bids, offers and reference data. Short-term securities maturing in 60 days or less are valued at amortized cost, which approximates market value. Investments in open end mutual funds and underlying funds are valued at their daily closing net asset value per share as reported by the investment company. Securities for which current market quotations are not readily available or are considered unreliable are stated at fair value as determined in good faith by an Internal Pricing Committee under the oversight of the Board of Trustees.

The close of foreign exchanges before the determination of each Fund’s NAV gives rise to the possibility that significant events, including broad market moves, may have occurred after these foreign exchanges close but before the Funds determine their NAVs. In consideration of this, the Board of Trustees has approved an independent pricing vendor to facilitate the fair value process of equity securities traded on particular foreign exchanges. The frequency with which this fair value process is used cannot be predicted and may be utilized to a significant extent. The value of securities used for net asset value calculation under this fair value process may differ from published prices for the same securities.

Exchange traded futures and certain options on futures contracts are valued at the settlement price determined by the relevant exchange. Swap contracts and OTC options and swaptions are valued daily based upon quotations from an independent pricing vendor. Depending on the product and the terms of the transaction, the fair value of the OTC derivatives can be modeled taking into account the counterparties’ creditworthiness and using a series of techniques, including simulation models. Many pricing models do not entail material subjectivity because the methodologies used do not necessitate significant judgments and the pricing inputs are observed from actively quoted markets. The U.S. dollar value of forward foreign currency contracts is determined using forward currency exchange rates supplied by a quotation service.

In accordance with Rule 2a-7 of the 1940 Act, the Money Market Fund values its securities initially at cost, and thereafter, securities are assumed to have a constant amortization to maturity of any discount or premium. Amortized cost approximates fair value.

Accounting principles generally accepted in the United States of America (“U.S. GAAP”) defines the fair value of a financial instrument as the price that a Fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. In accordance with U.S. GAAP, the Funds have

categorized their financial instruments, based on priority of the inputs to the valuation technique, into a three-level hierarchy. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to significant unobservable inputs (Level 3). The Funds utilize valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. If the inputs used to measure fair value for a security fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the fair value measurement of the instrument. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. Changes in valuation techniques may result in transfers into or out of an investment’s assigned level within the hierarchy.

The three-tier hierarchy of fair value measurements is summarized in the three broad levels listed below:

Level 1 – quoted prices in active markets for identical assets or liabilities

The types of assets and liabilities utilizing Level 1 valuations generally include exchange traded domestic and foreign equities, listed derivatives (such as warrants, rights, futures, options), investments in publicly-traded mutual funds with quoted market prices and certain over the counter actively traded U.S. Treasury securities.

Level 2 – significant other observable inputs, including:

a) Quoted prices for identical or similar assets or liabilities in active and non-active markets,

b) Inputs other than quoted market prices that are observable, and

c) Inputs that are derived principally from or corroborated by observable market data through correlation or other means

The types of assets and liabilities utilizing Level 2 valuations generally include debt securities such as U.S. Government Agency obligations, municipal bonds, mortgage-backed securities, asset-backed securities, collateralized mortgage obligations, corporate debt obligations, loan assignments and those securities valued at amortized cost; OTC derivatives such as swaps, options, swaptions, foreign forward currency exchange contracts and equity-linked securities; and certain foreign exchange traded equity securities fair valued by a pricing service that considers the correlation of the trading patterns of the foreign security to the intraday trading in the U.S. markets for investments such as American Depositary Receipts, futures, exchange-traded funds, and the movements of certain indexes of securities based on a statistical analysis of the historical relationship.

Level 3 – significant unobservable inputs (including the Funds’ own assumptions in determining the fair value of assets or liabilities)

Generally, the types of assets and liabilities utilizing Level 3 valuations are securities whose trading has been suspended or which has been de-listed from its primary trading exchange; securities in default or bankruptcy proceedings for which there is no current market quotation; securities and certain derivatives valued by broker quotes which may include brokers’ assumptions about the assumptions a market participant would use.

The tables summarizing the inputs used to value the Fund’s assets and liabilities measured at fair value as of September 30, 2010 and transfers among levels, if any, are incorporated within each Fund’s Portfolio of Investments. During the period ended September 30, 2010, there were no significant changes to valuation techniques described above and the related inputs.

c) Derivative Instruments

In the normal course of pursuing their investment objectives, the Funds may trade financial instruments and enter into financial transactions where risk of potential loss exists due to changes in the market (market or equity risk), failure of the other party to a transaction to perform or a decline in credit quality of the issuer (counterparty and credit risk), fluctuations in the value of foreign currencies (foreign currency exchange risk) and unfavorable changes in interest rates (interest rate risk).

The following is a summary of the fair valuations of the Funds’ financial derivative instruments (not accounted for as hedging instruments under U.S. GAAP) categorized by risk exposure:

Asset Derivatives

Fund	Derivative Type	Interest Rate		Foreign Exchange		Credit		Equity		Total
Goldman Sachs Mid Cap Value	Futures Contracts	$	—	$	—	$	—	$	147,745	$	147,745
	Total Value	$	—	$	—	$	—	$	147,745	$	147,745
Goldman Sachs Short Duration	Futures Contracts	$	419,185	$	—	$	—	$	—	$	419,185
	Total Value	$	419,185	$	—	$	—	$	—	$	419,185
PIMCO High Yield	Forward Foreign Currency Exchange Contracts	$	—	$	113,471	$	—	$	—	$	113,471
	Futures Contracts		457,913		—		—		—		457,913
	Swap Contracts		—		—		312,617		—		312,617
	Total Value	$	457,913	$	113,471	$	312,617	$	—	$	884,001
PIMCO Total Return	Forward Foreign Currency Exchange Contracts	$	—	$	1,996,423	$	—	$	—	$	1,996,423
	Futures Contracts		1,256,891		—		—		—		1,256,891
	Swap Contracts		282,540		—		247,579		—		530,119
	Total Value	$	1,539,431	$	1,996,423	$	247,579	$	—	$	3,783,433
AllianceBernstein International Value	Futures Contracts	$	—	$	—	$	—	$	3,855	$	3,855
	Total Value	$	—	$	—	$	—	$	3,855	$	3,855
BlackRock Inflation Protected Bond	Futures Contracts	$	292,034	$	—	$	—	$	—	$	292,034
	Swap Contracts		3,541,642		—		—		—		3,541,642
	Total Value	$	3,833,676	$	—	$	—	$	—	$	3,833,676

Liability Derivatives

Fund	Derivative Type	Interest Rate			Foreign Exchange			Credit			Equity			Total
Goldman Sachs Short Duration	Futures Contracts	$	(1,117,273	)	$	—		$	—		$	—		$	(1,117,273	)
	Total Value	$	(1,117,273	)	$	—		$	—		$	—		$	(1,117,273	)
PIMCO High Yield	Forward Foreign Currency Exchange Contracts	$	—		$	(539,308	)	$	—		$	—		$	(539,308	)
	Swap Contracts		—			—			(1,019	)		—			(1,019	)
	Total Value	$	—		$	(539,308	)	$	(1,019	)	$	—		$	(540,327	)
PIMCO Total Return	Forward Foreign Currency Exchange Contracts	$	—		$	(1,665,282	)	$	—		$	—		$	(1,665,282	)
	Swap Contracts		—			—			(36,568	)		—			(36,568	)
	Written Option Contracts		(1,804,974	)		—			(8,460	)		—			(1,813,434	)
	Total Value	$	(1,804,974	)	$	(1,665,282	)	$	(45,028	)	$	—		$	(3,515,284	)
AllianceBernstein International Value	Forward Foreign Currency Exchange Contracts	$	—		$	(19,020	)	$	—		$	—		$	(19,020	)
	Futures Contracts		—			—			—			(11,858	)		(11,858	)
	Total Value	$	—		$	(19,020	)	$	—		$	(11,858	)	$	(30,878	)
BlackRock Inflation Protected Bond	Forward Foreign Currency Exchange Contracts	$	—		$	(1,443,159	)	$	—		$	—		$	(1,443,159	)
	Futures Contracts		(883,436	)		—			—			—			(883,436	)
	Swap Contracts		(3,633,213	)		—			—			—			(3,633,213	)
	Written Option Contracts		(37,263	)		—			—			—			(37,263	)
	Total Value	$	(4,553,912	)	$	(1,443,159	)	$	—		$	—		$	(5,997,071	)

For additional information on the Funds’ policy regarding valuation of investments and other significant accounting policies, please refer to the Funds’ most recent Semi-Annual or Annual Report to Shareholders.

NOTE 3 – FEDERAL INCOME TAX COST

The identified cost of investments owned by each Fund for federal income tax purposes was the same as the cost for financial reporting purposes. Accordingly, gross unrealized appreciation and depreciation at September 30, 2010 were as follows:

Fund	Identified Tax Cost		Gross Unrealized					Net Unrealized Appreciation/ (Depreciation)
			Appreciation		(Depreciation)
Investment Grade Bond	$	427,756,269	$	13,404,912	$	(1,667,592	)	$	11,737,320
Money Market		196,448,796		—		—			—
Global Real Estate		197,654,856		51,757,014		(6,414,159	)		45,342,855
Davis Venture Value		389,047,573		56,822,298		(4,651,620	)		52,170,678
Oppenheimer Main Street Small Cap		151,789,699		31,384,856		(4,560,852	)		26,824,004
Oppenheimer Large Cap Core		127,784,193		9,450,501		(3,282,083	)		6,168,418
WMC Large Cap Growth		185,827,965		26,756,634		(5,044,132	)		21,712,502
WMC Blue Chip Mid Cap		132,106,174		22,703,241		(2,362,678	)		20,340,563
Lord Abbett Growth & Income		443,901,654		101,675,813		(5,710,623	)		95,965,190
Goldman Sachs Mid Cap Value		221,048,670		43,770,633		(3,736,359	)		40,034,274
Goldman Sachs Short Duration		1,103,718,259		18,390,926		(193,411	)		18,197,515
Columbia Small Cap Value		54,354,920		1,856,277		(4,612,770	)		(2,756,493	)
PIMCO High Yield		142,884,202		15,850,923		(417,138	)		15,433,785
PIMCO Total Return		733,978,255		22,932,027		(727,578	)		22,204,449
Invesco Small Cap Growth		25,979,055		3,865,789		(516,775	)		3,349,014
AllianceBernstein International Value		74,164,970		9,014,330		(1,981,784	)		7,032,546
BlackRock Inflation Protected Bond		328,048,275		10,390,382		(195,178	)		10,195,204
Ibbotson Moderate		633,108,131		45,794,999		—			45,794,999
Ibbotson Balanced		1,124,447,145		84,041,296		—			84,041,296
Ibbotson Growth		492,719,673		59,103,254		—			59,103,254

NOTE 4 – INVESTMENT TRANSACTIONS IN WRITTEN OPTIONS AND SWAPTIONS

Transactions in options and swaptions written during the nine months ended September 30, 2010 were as follows:

PIMCO High Yield Fund	Number of Contracts			Notional Par			Premium Amount
Beginning of period		8		$	26,100,000		$	236,692
Written		—			—			—
Bought back		(8	)		(16,100,000	)		(149,307	)
Expired		—			(10,000,000	)		(87,385	)
Exercised		—			—			—
End of period		—		$	—		$	—

PIMCO Total Return Fund	Number of Contracts			Notional Par			Premium Amount
Beginning of period		2,200,314		$	87,900,000		$	997,851
Written		13,100,509			322,000,000			2,677,189
Bought back		(2,200,496	)		(99,000,000	)		(1,105,506	)
Expired		(13,100,223	)		(113,300,000	)		(940,787	)
Exercised		(22	)		—			—
End of period		82		$	197,600,000		$	1,628,747
BlackRock Inflation Protected Bond Fund	Number of Contracts			Notional Par			Premium Amount
Beginning of period		270		$	6,600,000		$	391,727
Written		—			10,200,000			53,550
Bought back		(270	)		—			(66,677	)
Expired		—			(6,600,000	)		(325,050	)
Exercised		—			—			—
End of period		—		$	10,200,000		$	53,550

NOTE 5 – SUBSEQUENT EVENTS

Effective November 15, 2010, BlackRock Investment Management, LLC replaced OppenheimerFunds, Inc. as subadviser to the SC Oppenheimer Main Street Small Cap Fund (the “Fund”). Also effective November 15, 2010, the name of the Fund was changed to SC BlackRock Small Cap Index Fund. In connection with this change, the Fund changed its investment goal and investment strategy from an active to a passive management approach, and will attempt to invest in a portfolio of assets whose performance is expected to match approximately the performance of the Russell 2000 Index.

Effective November 15, 2010, BlackRock Investment Management, LLC replaced OppenheimerFunds, Inc. as subadviser to the SC Oppenheimer Large Cap Core Fund (the “Fund”). Also effective November 15, 2010, the name of the Fund was changed to SC BlackRock Large Cap Index Fund. In connection with this change, the Fund changed its investment goal and investment strategy from an active to a passive management approach, and will attempt to invest in a portfolio of assets whose performance is expected to match approximately the performance of the Standard & Poor’s^® 500 Index.

Effective November 15, 2010, the name of the SC Ibbotson Moderate Fund was changed to SC Ibbotson Conservative Fund.

Other Information

Other information regarding the Funds is available in the Funds’ most recent Report to Shareholders. This information is also available on the U.S. Securities and Exchange Commission (“SEC”) website at www.sec.gov; and available for review and copying at the SEC’s Public Reference Room in Washington, D.C. Information about the operations of the Public Reference Room may be obtained by calling 800-SEC-0330.

Item  2. CONTROLS AND PROCEDURES.

(a) Based upon their evaluation of the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) as conducted within 90 days of the filing date of this Form N-Q, the registrant’s principal financial officer and principal executive officer have concluded that those disclosure controls and procedures provide reasonable assurance that the material information required to be disclosed by the registrant on this report is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms.

(b) There has been no change in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the quarter ended September 30, 2010 that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item  3. EXHIBITS.

A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940, as amended, is filed herewith.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant)	SUN CAPITAL ADVISERS TRUST
By (Signature and Title)*	/s/ JOHN T. DONNELLY
	John T. Donnelly, President
Date: November 23, 2010

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By (Signature and Title)*	/s/ JOHN T. DONNELLY
	John T. Donnelly, President
	(Chief Executive Officer)
Date: November 23, 2010
By (Signature and Title)*	/s/ LENA METELITSA
	Lena Metelitsa, Treasurer
	(Chief Financial Officer)
Date: November 23, 2010

* Print name and title of each signing officer under his or her signature.

EX-99.(CERT)

SUN CAPITAL ADVISERS TRUST

CERTIFICATION

I, John T. Donnelly, certify that:

1. I have reviewed this report on Form N-Q of Sun Capital Advisers Trust;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and

d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date:	November 23, 2010	/s/ JOHN T. DONNELLY
		John T. Donnelly, President
		(Chief Executive Officer)

SUN CAPITAL ADVISERS TRUST

CERTIFICATION

I, Lena Metelitsa, certify that:

1. I have reviewed this report on Form N-Q of Sun Capital Advisers Trust;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and

d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely

affect the registrant’s ability to record, process, summarize, and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date:	November 23, 2010	/s/ LENA METELITSA
		Lena Metelitsa, Treasurer
		(Chief Financial Officer)